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TOKMANNI Q2 / 2026 GROUP SOLID PERFORMANCE IN TOKMANNI SEGMENT , PROGRESS IN DOLLARSTORE Sampo Päällysaho , CEO Tapio Arimo , CFO 7 August 2026 MAN OHO 3 B TOKMANNI GROUP
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Agenda 1. Q2 in brief 2. Key figures 3. Looking ahead 4. Q&A Tokmanni Group's Business Review Q2/20262
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Tokmanni Group has a strong position in the Nordic variety discount retail market, Q2/2026 3 208 Tokmanni stores 34 Click Shoes stores 5,131 employees 142 Dollarstore stores 2,342 employees 12 Big Dollar stores 193 employees Tokmanni Group's Business Review Q2/2026 72% 28% Tokmannisegment Dollarstoresegment 457.7 EURm Revenue by segment 55.0% (54.8%) sales of groceries 26.3% (25.1%) sales of private labels* 6,700 (2,800) shared products (73%) (27%) * Private label products, exclusive brands and non-branded products
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We are developing our store network in Finland, Sweden and Denmark Tokmanni Group's Business Review Q2/20264 Tokmanni Group stores 30.6.2026 30.6.2025 Change year-on-year Change during Q2/2026 Tokmanni segment 242 240 +2 +2 Tokmanni 208 204 +4 +2 Click Shoes and Shoe House 34 36 -2 0 Dollarstore segment 154 143 +11 +3 Dollarstore 142 134 +8 +2 Big Dollar 12 9 +3 +1 Total 396 383 +13 +5
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Tokmanni Group Q2/2026 • Revenue grew by 3.3% to EUR 457.7 million, supported by the low- price programme across all markets, a successful spring and summer season, and new store openings • Sales increased in both segments, driven by higher customer visits and higher average basket size • Tokmanni Group’s comparable EBIT in line with the comparison period • Dollarstoresegment’s operating expenses increase was mainly due to the opening of new Dollarstoreand Big Dollar stores and various development projects • Cash flow for the quarter was EUR 45.7 million (75.3) Tokmanni Group's Business Review Q2/20265 341,8 442,9 432,8 510,8 363,6 457,7 Q1/2025 Q2/2025 Q3/2025 Q4/2025 Q1/2026 Q2/2026 +3,3% Revenue, EUR million -11,2 21,4 26,4 48,2 -13,7 21,0 Q1/2025 Q2/2025 Q3/2025 Q4/2025 Q1/2026 Q2/2026 EUR -0,4 Comparable EBIT, EUR million
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Tokmanni segment Q2/2026 • Revenue increased by 2.3% to EUR 329.6 million • Customer visits increased as consumers continued to prioritise value-for-money shopping • Seasonal demand, particularly in garden products was strong, campaigns were well received, and sales of non-grocery products, especially apparel increased • Digitalisationcontinued to enhance customer and employee experience through data-driven decision-making and operational development • Tokmanni Klubi grew to 1.6 million registered members, with members shopping more frequently and spending more money per visit than non-members, supporting sales growth and customer loyalty • Operating expenses were well in control • Comparable EBIT improved to EUR 22.3 million, supported by solid sales development and continued cost control Tokmanni Group's Business Review Q2/20266 242,7 322,2 314,6 364,2 258,4 329,6 Q1/2025 Q2/2025 Q3/2025 Q4/2025 Q1/2026 Q2/2026 +2,3% Revenue, EUR million -2,5 20,8 26,3 40,9 -2,2 22,3 Q1/2025 Q2/2025 Q3/2025 Q4/2025 Q1/2026 Q2/2026 EUR +1,5 Comparable EBIT, EUR million
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Tokmanni Group's Business Review Q2/20267 EUROSPAR supermarkets 1. Ylöjärvi, June 2025 2. Masku, October 2025 3. Tornio, November 2025 4. Järvenpää, March 2026 5. Joensuu Raatekangas, May 2026 6. Iisalmi, June 2026 EUROSPAR conversion has significantly increased footfall in converted stores. We are planning to open an additional 4-5 EUROSPAR supermarkets during 2026.
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Dollarstore segment Q2/2026 • Revenue increased to EUR 130.2 million, supported by new store openings and positive currency effects • Strong growth e.g. in drinks, coffee, toys, party and grilling, and positive customer response to campaigns • Continued rollout of the shared assortment across Tokmanni and Dollarstore • Encouraging pilot store performance, with sales and gross margin per square metre significantly higher than in the comparable group of existing Dollarstorestores • Comparable EBIT declined as investments in new stores and development initiatives increased operating expenses • During the 12 months, we have opened 11 stores which contributed positively to revenue and EBIT impact was neutral Tokmanni Group's Business Review Q2/20268 99,2 121,0 119,1 148,5 106,4 130,2 Q1/2025 Q2/2025 Q3/2025 Q4/2025 Q1/2026 Q2/2026 +7.7% Revenue, EUR million -7,8 1,6 1,1 8,3 -10,5 -0,4 Q1/2025 Q2/2025 Q3/2025 Q4/2025 Q1/2026 Q2/2026 EUR -2,0 Comparable EBIT, EUR million
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Tokmanni Group's Business Review Q2/20269 Dollarstore and Big Dollar stores opened in the last 12 months Dollarstore, Sweden 1. Västerås, Erikslund, September 2025 2. Östhammar, Ostober 2025 3. Västerås, Hälla, October 2025 4. Gothenburg, Sisjön, November 2025 5. Gothenburg, Gamlestaden, December 2025 6. Gothenburg, Kållered, March 2026 7. Kiruna, June 2026 8. Helsingborg, Väla, June 2026 Big Dollar, Denmark 1. Skive, September 2025 2. Guldborgsund, November 2025 3. Ringsted, January 2026
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• Renewing the concept and assortment, supported by encouraging pilot store results • Increasing marketing efforts to improve awareness, customer traffic and campaign effectiveness • Rolling out shared assortment across Tokmanni, Dollarstoreand Big Dollar • Like-for-like customer visits turned positive in June and basket grew by 4.2% • Strengthening Group-wide commercial planning and sourcing cooperation • Improving operational efficiency through harmonised systems, processes and ways of working • Shifting focus in Sweden towards productivity and profitability of the existing store base Dollarstore turnaround Tokmanni Group's Business Review Q2/202610
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Attractive Offers Across all Markets Tokmanni Group's Business Review Q2/202611
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Tokmanni Group’s key figures Tokmanni Group's Business Review Q2/202612
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• Tokmanni Group’s revenue grew by 3.3% (4.8%) and was EUR 457.7 million (442.9) • Like-for-like revenue grew by 0.3 % (1.9 %) • Comparable gross profit was EUR 158.5 million (157.7) and comparable gross margin was 34.6% (35.6%) • Comparable EBIT amounted to EUR 21.0 million (21.4), 4.6% of revenue (4.8%) • Cash flow from operating activities amounted to EUR 45.7 million (75.3) Tokmanni Group’s key figures Q2/2026 Tokmanni Group's Business Review Q2/202613
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Tokmanni Group’s Revenue • In the second quarter, Tokmanni Group’s revenue grew by 3.3% and was EUR 457.7 million (442.9) • Like-for-like revenue increased by 0.3% (1.9%) • Tokmanni segment’s revenue increased by 2.3% and was EUR 329.6 million (322.2) • Dollarstoresegment’s revenue increased by 6.4% in local currencies and was EUR 130.2 million (121.0) Tokmanni Group's Business Review Q2/202614 Revenue, EUR million 316,1 322,2 329,6 564,2 564,9 588,0 106,6 121,0 130,2 197,7 220,1 236,6 -0,2 Q2/2024 -0,3 Q2/2025 -2,1 Q2/2026 -0,2 1-6/2024 -0,3 1-6/2025 -3,3 1-6/2026 422,5 442,9 457,7 761,7 784,7 821,3 Tokmanni segment Dollarstore segment Eliminations
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Group’s sales of grocery products increased by 3.4% in Q2/2026 Tokmanni Group's Business Review Q2/202615 (55,5) (44,5)54,4% 45,6% Groceries Non-groceries Tokmanni segment’s share of revenue, % Q2/2026 329.6 EURm 56,3% 43,7% Groceries Non-groceries Dollarstore segment’s share of revenue, % Q2/2026 130.2 EURm (54,5%) 52,3% (45,5%) (55,5%) (44,5%) Tokmanni, Dollarstoreand Big Dollar stores have dry food and beverages in all their stores, fresh food is offered in approx. 20 Tokmanni stores, incl. the Tokmanni- EUROSPAR store entities,in Finland. Groceries: food, beverages, pet products, health products, household papers, magazines, cleaning products, daily cosmetics.
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Private labels support growth Tokmanni Group's Business Review Q2/202616 (55,5) (44,5) 26,3% 73,7% Private labels* Others Private label products by Tokmanni Group, share of revenue Q2/2026 457.7 EURm (25,1%) 52,3% (74,9%) * Private label products, exclusive brands and non-branded products
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Tokmanni Group’s Comparable gross profit • In the second quarter, Tokmanni Group’s comparable gross profit was EUR 158.5 million (157.7), and comparable gross margin was 34.6% (35.6%) • T okmanni segment’s comparable gross profit was EUR 111.6 (112.1) and comparable gross margin 33.9% (34.8%) • Dollarstoresegment’s comparable gross profit was EUR 47.4 (45.8) and comparable gross margin 36.4% (37.9%) Tokmanni Group's Business Review Q2/202617 155,2 157,7 158,5 270,6 273,1 278,7 36,7 35,6 34,6 35,5 34,8 33,9 Q2/2024 Q2/2025 Q2/2026 1-6/2024 1-6/2025 1-6/2026 Comparable gross profit, EUR million Comparable gross margin, % Comparable gross profit
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Tokmanni Group’s Comparable operating expenses • In the second quarter, Tokmanni Group’s comparable operating expenses were well in control, 22.7% of revenue (23.6%), or EUR 103.9 million (104.7) • Personnel expenses were 14.1% (14.7%) of revenue, or EUR 64.5 million (65.0) • Tokmanni segment’s comparable operating expenses were 21.2% (22.4%) of revenue, or EUR 69.9 million (72.2) • Dollarstoresegment’s comparable operating expenses were 26.0% (26.4%) of revenue, or EUR 33.8 million (31.9) Tokmanni Group's Business Review Q2/202618 Dollarstore segment’s financials have been included in Tokmanni Group financials starting 1 August 2023. 18,5 19,2 20,5 21,2 22,8 23,6 22,7 21,7 22,4 21,2 25,5 26,4 26,0 10 12 14 16 18 20 22 24 26 28 Q2/2020 Q2/2021 Q2/2022 Q2/2023 Q2/2024 Q2/2025 Q2/2026 Group Tokmanni segment Dollarstore segment Comparable operating expenses, %
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Tokmanni Group’s Comparable EBIT • In the second quarter, Tokmanni Group’s comparable EBIT was EUR 21.0million (21.4), and comparable EBIT % was4.6% (4.8%) • Tokmanni segment’s comparable EBIT was EUR 22.3 million (20.8), and comparable EBIT % was6.8% (6.5%) • Dollarstoresegment’s comparable EBIT was EUR -0.4 million (1.6), and comparable EBIT % was-0.3% (1.3%) • Group functions and eliminationswere EUR -0.9 million (-1.1) Tokmanni Group's Business Review Q2/202619 Comparable EBIT 2,1 22,3 24,8 18,3 20,1 26,5 20,8 -0,4 -0,6 -6,1 -10,9 -0,8 -1,1 -0,9 -1,4 6,6 4,8 4,6 3,0 1,3 0,9 Q2/2024 Q2/2025 Q2/2026 1-6/2024 1-6/2025 1-6/2026 27,9 21,4 21,0 22,8 10,2 7,3 -1,9 -2,0 1,6 Tokmanni segment, EUR million Dollarstore segment, EUR million % of revenue (Group) Group functions and eliminations
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Tokmanni Group’s Inventories • Tokmanni Group’s inventory levels decreased year- on-year, reflecting disciplined inventory management and improved demand planning • The value of Tokmanni Group’s inventories was EUR 446.4 million (465.2) at the end of June • The value of Tokmanni segment’s inventories in Finland was EUR 312.3 million (328.3) • The value of Dollarstoresegment’s inventories in Sweden and Denmark was EUR 134.4 million (136.9) Tokmanni Group's Business Review Q2/202620 Dollarstore segment’s financials have been included in Tokmanni Group financials starting 1 August 2023. 150 200 250 300 350 400 450 500 Q1/2021 Q2/2021 Q3/2021 Q4/2021 Q1/2022 Q2/2022 Q3/2022 Q4/2022 Q1/2023 Q2/2023 Q3/2023 Q4/2023 Q1/2024 Q2/2024 Q3/2024 Q4/2024 Q1/2025 Q2/2025 Q3/2025 Q4/2025 Q1/2026 Q2/2026 253,7252,6 313,9 292,0 390,9 465,2 446,4 Tokmanni segment Dollarstore segment Inventories, EUR million
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Tokmanni Group’s Financing • At the end of June, Tokmanni Group’sinterest- bearing debt totalled EUR 912.0million (924.8) – EUR 160.0 million (220.0) in non-current loans from financial institutions excluding amortised issue costs – EUR 100.0 million in bond loan excluding amortised issue costs – EUR 36.0 million (127.0) in short-term credit facility loans and commercial paper program – EUR 617.7 million (578.8) in lease liabilities 21 Tokmanni Group's Business Review Q2/2026 Dollarstore segment’s financials have been included in Tokmanni Group financials starting 1 August 2023. 151,3 299,4 299,0 254,1 263,9 284,0 271,2 365,3 346,1 332,1 315,0 301,2 294,3 540,3 565,1 572,2 574,2 561,0 561,0 575,4 578,8 613,3 640,8 628,8 617,7 0 100 200 300 400 500 600 700 289,9Q1/2023 129,1 332,8 Q2/2023 Q3/2023 Q4/2023 Q1/2024 Q2/2024 Q3/2024 Q4/2024 Q1/2025 Q2/2025 Q3/2025 Q4/2025 Q1/2026 Q2/2026 Debt and loans from financial institutions including amortised emission costs Lease liabilities Tokmanni Group’s interest-bearing debt, EUR million
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Net debt / comparable EBITDA Rolling 12 months comparable EBITDA Tokmanni Group's Business Review Q2/202622 • At the end of June, Tokmanni Group’s net debt / comparable EBITDA excl. IFRS 16 impact was 3.26 (3.53) • The financial position was good – Net debt excl. IFRS liabilities were EUR 282.2 (331.8) • The long-term goal is to keep the ratio of net debt to comparable EBITDA, excluding the impact of IFRS 16, below 2.25 at year-end * The figures have not been adjusted for the change in accounting principles and are therefore not directly comparable. Dollarstore segment’s financials have been included in Tokmanni Group financials starting 1 August 2023. 2,75 4,70 3,94 3,81 3,70 3,57 4,19 4,19 4,32 4,01 4,17 4,11 1,61 2,85 2,26 2,41 2,56 3,54 3,53 3,53 3,20 3,26 0,0 0,5 1,0 1,5 2,0 2,5 3,0 3,5 4,0 4,5 5,0 Q1/2023* 2,80 1,31 Q2/2023* Q3/2023* 3,73 1,56 Q4/2023* Q1/2024* Q2/2024* Q3/2024* 2,34 Q4/2024 Q1/2025 Q2/2025 Q3/2025 2,57 Q4/2025 Q1/2026 Q2/2026 with lease liabilities without lease liabilities Net debt / comparable EBITDA
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Tokmanni Group’s Cash flow from operating activities • In the second quarter, Tokmanni Group’s cash flow from operating activities was on a good level atEUR 45.7 million (75.3) • The development of net cash flow from operating activities was mainly driven by the relative change in net working capital compared to the comparison period of the previous year • While inventory levels were lower than a year earlier, the overall contribution of net working capital to cash flow was less favourable than in the previous year Tokmanni Group's Business Review Q2/202623 43,9 75,3 45,7 4,0 0,1 31,9 Q2/2024 Q2/2025 Q2/2026 1-6/2024 1-6/2025 1-6/2026 Tokmanni Group’s net cash flow from operating activities, EUR million * The figures have not been adjusted for the change in accounting principles and are therefore not directly comparable. Dollarstore segment’s financials have been included in Tokmanni Group financials starting 1 August 2023.
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Tokmanni Group’s capital expenditure • In the second quarter, Tokmanni Group’s capital expenditure totalled EUR 8.2 million (7.1) • T okmanni segment’s capital expenditure totalled EUR 7.2 million (4.1) • Dollarstoresegment’s capital expenditure totalled EUR 1.1 million (3.0) • Capital expenditure was mainly related to the store network expansion, the development and maintenance of the store network and the development of digital services Tokmanni Group's Business Review Q2/202624 10,5 4,1 7,2 15,2 7,1 11,1 2,3 3,0 3,4 4,6 2,5 Q2/2024 Q2/2025 1,1 Q2/2026 1-6/2024 1-6/2025 1-6/2026 12,8 7,1 8,2 18,6 11,7 13,6 Tokmanni segment Dollarstore segment Capital expenditure, EUR million
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Looking ahead Tokmanni Group's Business Review Q2/202625
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• Deepened cooperation with the SPAR network • Agreed with SPAR International to introduce SPAR-branded grocery products to Dollarstorestores in Sweden • Tokmanni and Dollarstorewill share a SPAR-branded assortment, strengthening sourcing synergies and cooperation across the Group • First SPAR-branded products expected to arrive in Dollarstorestores later this year • Among the best-selling products in Finland are sugar, pasta, biscuits, hand soap, canned tuna and chocolate products Strengthening SPAR cooperation and Group-wide synergies Tokmanni Group's Business Review Q2/202626
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• Well positioned to meet customers’ demand for low prices, a wide assortment and an easy shopping experience • Preparations for the autumn and Christmas seasons are progressing well • Continued focus on strengthening the market positions of Tokmanni, Dollarstoreand Big Dollar • No impact to date from geopolitical uncertainty on product availability, supply chains or seasonal preparations • Strategy and financial targets are being evaluated and updated for the next strategy period strong foundation for future success Tokmanni Group's Business Review Q2/202627
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New members to Tokmanni Group’s Executive Team Ulrika Göransson has been appointed Chief Strategy and Transformation Officer as of 1 September 2026. Tokmanni Group's Business Review Q2/202628 Martin Sörenhag has been appointed Managing Director of Dollarstore segment as of 1 November 2026.
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• In 2026, Tokmanni Group expects its revenue to be EUR 1,780–1,860 million. • Comparable EBIT is expected to be EUR 85–105 million. Guidance 2026 unchanged 29 Tokmanni Group's Business Review Q2/2026
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Tokmanni Group's Business Review Q2/202630 Q&A ir@tokmanni.fi Next event: Business review Q3/2026 6 November 2026