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PAOLO POMPEI, PRESIDENT AND CEO TIMO KOPONEN, CFO OCTOBER 27, 2026 STRONG PROFITABILITY IMPROVEMENT CONTINUED IN THE THIRD QUARTER INTERIM REPORT JANUARY – SEPTEMBER 2026
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AGENDA 2 1 2 3 Quarterly highlights Financial performance Business units 5 Assumptions and guidance 4 Ca sh flow and financial position
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QUARTERLY HIGHLIGHTS
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TIRE MARKET DEVELOPMENT IN 1 – 9/2026 PASSENGER CAR & LIGHT TRUCK TIRES TRUCK TIRES • Europe RT +11% AGRI & FORESTRY TIRES • Europe RT & OE +2%• Europe RT - 2% • North America RT - 3% 4 PC/LT replacement tire markets remained soft, while European heavy tire segments were more resilient Market data based on sell - in data provided by tiremaker associations and Nokian Tyres’ own estimates of sales by tire manufactur ers that do not belong to any association
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HIGHLIGHTS OF Q3 2026 5 • Operating profit improved significantly , driven by price repositioning and lower manufacturing and material costs. • Sales grew across all regions, reflecting high customer trust in our brand. • New flagship winter tires became available to consumers and ranked high in magazine tests. • Record - high share of larger rim size tires , supporting a higher - value product mix. • Group - wide efficiency improvement initiatives progressing in line with our plan.
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LATEST TEST SUCCESS REINFORCES OUR PREMIUM POSITIONING IN WINTER AND ALL - SEASON 6 #1 HAKKAPELIITTA R5 (studless winter) #1 of 6 Tekniikan Maailma (FI 18/2025) Aftonbladet (SE 9/2026) SNOWPROOF 3P (studless winter) #2 of 9 Sport Auto (DE 10/2026) SEASONPROOF 2 (all - season) #3 of 9 Motor (PL 39/2026) SEASONPROOF C1 (all - season) #3 of 6 Promobil (DE 10/2026) NOKIAN TYRES HAKKAPELIITTA 01 (studded winter) OUTPOST nAT (all - weather) #2 of 7 Tyre Reviews (International 6/2026) Selected results in 2026. More comprehensive list at www.nokiantyres.com/tires/test - success/ (FI 7/2026 ) (FI 18/2026) (NO 3/2026 ) (SE 9/2026) (SE 12/2026)
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FINANCIAL PERFORMANCE 7
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GROWTH IN ALL KEY METRICS IN Q3 8 SEGMENTS EBITDA SEGMENTS OPERATING PROFIT • Net sales increased by 4.4 %, or 2.9 % in comparable currencies. • Sales grew in all regions, supported by price repositioning. NET SALES 65.4 80.1 Q3’25 Q3’26 Q3’25 Q3’26 OPERATING PROFIT 21.8 37.9 • Segments operating profit increased by 45 % to EUR 47 million (EUR 32.4 million), corresponding to 13.1% of net sales, compared with 9.4 % in the prior year. • Improvement was driven by price repositioning and lower manufacturing and material costs. • Segments EBITDA increased by 22% to EUR 80.1 million (EUR 65.4 million), representing 22.3 % of net sales, compared with 19% in the prior year. • Operating profit improved to EUR 37.9 million, compared with EUR 21.8 million in the prior year. Q3’25 Q3’26 Q3’25 Q3’26 EUR million 32.4 47.0 344.1 359.1
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NET SALES GREW IN ALL REGIONS IN Q3, LED BY NORDICS AND NORTH AMERICA 9 NET SALES BY BUSINESS UNIT , EUR million Q3’26 Q3’25 77.2 74.9 Change 3 .0% Vianor 247.1 234.0 +4.3% Passenger Car Tyres 56.7 55.4 + 2.4 % Heavy Tyres NET SALES BY GEOGRAPHICAL AREA, EUR million 167.7 96.8 78.4 176.4 97.9 82.5 0 20 40 60 80 100 120 140 160 180 200 Nordics Central and Southern Europe North America Q3'25 Q3'26 + 5.2 % +5.3% +1.2% CC* C hange 0.0% +5.6% +1.7% * Comparable currencies
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10 WINTER TIRES DOMINATE MIX, LARGER TIRE SIZES REACHED A RECORD SHARE OF OUR SALES Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 WINTER TIRES ALL - SEASON & ALL - WEATHER TIRES SUMMER TIRES Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 18 - INCH AND LARGER TIRES Shares based on sales value 73% 76 % 22% 19 % 4% 5% 48% 5 4 % • Winter tires increased their share to 76% in Q3 and were clearly the largest segment by sales value. • ≥18” tires accounted for 54 % of sales value in Q3, up from 48% in the prior year. 9M’25: 48% 9M’26: 52% 9M’25: 55% 9M’26: 59% 9M’25: 16% 9M’26: 15% 9M’25: 29% 9M’26: 26%
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KEY FINANCIALS 11 EUR million 7 – 9/2026 7 – 9/2025 1 – 9/2026 1 – 9/2025 2025 Net sales 359.1 344.1 1,018.7 957.3 1,373.6 Operating profit 37.9 21.8 54.9 0.7 35.8 Operating profit, % 10.5% 6.3% 5.4% 0.1% 2.6% Segments EBITDA 80.1 65.4 187.1 135.1 222.2 Segments EBITDA, % 22.3% 19.0% 18.4% 14.1% 16.2% Segments operating profit 47.0 32.4 87.7 40.2 91.3 Segments operating profit, % 13.1% 9.4% 8.6% 4.2% 6.6% Segments ROCE, %* 6.4% 3.6% 4.7% Equity ratio, % 45.8% 44.6% 50.3% Gearing, % 77.3% 86.2% 57.0% Interest - bearing net debt 900.9 987.4 664.0 Capital expenditure 12.6 32.3 37.1 122.0 126.9 Cash flow from operating activities - 59.0 - 80.6 - 132.6 - 185.9 146.2 In addition to IFRS figures, Nokian Tyres publishes alternative non - IFRS segments figures, which exclude the ramp - up of the Romanian factory and other possible items that are not indicative of the Group’s underlying business performance. *Rolling 12 months
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CAPEX IS NORMALIZING AFTER THE MAJOR INVESTMENT PHASE 0 100 200 300 400 2022 2023 2024 2025* 2026E 12 Estimate Investments Depreciation EUR million • Capex is normalizing towards depreciation over time. • 2026 capex will be lower than in the previous year as we leverage our state - of - the - art manufacturing platform. *Capex 2025 including Romanian state aid of EUR 32.6 million
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BUSINESS UNITS
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Q3: PASSENGER CAR TYRES 14 Continued sales and profit growth EUR million 7 −9/2026 7 −9/2025 1 −9/2026 1 −9/2025 2025 Net sales 247.1 234.0 668.4 614.3 858.4 Net sales change in comparable currencies, % 4.3% 13.2% 8.8% 14.9% 11.5% Segment operating profit 50.8 38.9 96.5 48.7 80 .9 Segment operating profit, % 20.5% 16.6% 14.4% 7.9% 9.4% • Net sales increased by 4.3% in comparable currencies. • ASP improved and the share of ≥18” tires was record high • The new Nokian Tyres Hakkapeliitta 01 and Snowproof 3P winter tires became available to consumers and ranked high in magazine tests • Segment operating profit improved due to price repositioning and lower manufacturing and material costs. Update all
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Q3: PASSENGER CAR TYRES BRIDGE Price/mix and materials supported segment operating profit positively SEGMENT OPERATING PROFIT , EUR million 12 3 0 230 240 250 255 245 235 7 - 9/2025 Sales Volume Price/Mix Net Sales excl FX effect 244 247 7 - 9/2026 - 2 234 Currency +6% - 0,9% +5,2% +1,3% NET SALES , EUR million 15
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PASSENGER CAR TYRES NET SALES - QUARTERLY CHANGES YoY Change % 16 Q1 Q2 Q3 Q4 Q1 Q2 21,7% 6,4% - 3,3% - 4,6% 5,7% 10,5% Q3 - 0,9% Q1 Q2 Q3 Q4 Q1 Q2 0,5% 4,9% 16,5% 8,5% 3,4% 3,1% Q3 5,2% Q1 Q2 Q3 Q4 Q1 Q2 - 0,5% - 2,1% - 1,7% - 1,4% - 2,1% 0,3% Q3 1,3% Sales Volumes Price / Mix Currency 2025 2026 2025 2026 2025 2026
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Q3: HEAVY TYRES 17 Sales grew slightly, profitability at a good level • Net sales increased by 1.7% in comparable currencies. • Strong growth in agri • Segment operating profit improved to EUR 8.7 million, representing 15.3% of net sales, supported by disciplined pricing and cost management. EUR million 7 −9/2026 7 −9/2025 1 −9/2026 1 −9/2025 2025 Net sales 56.7 55.4 178.7 172.0 232.0 Net sales change in comparable currencies, % 1.7% - 4.4% 3.6% - 0.6% - 1.2% Segment operating profit 8.7 5.0 27.4 18.3 24.3 Segment operating profit, % 15.3% 9.0% 15.3% 10.6% 10.5%
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Q3: VIANOR 18 Sales and profitability at the previous year’s level in the low season • Net sales were flat at EUR 77.2 million in comparable currencies. • Segment operating profit was EUR - 6.8 million, representing - 8.8% of net sales, impacted by cost inflation. EUR million 7 −9/2026 7 −9/2025 1 −9/2026 1 −9/2025 2025 Net sales 77.2 74.9 238.9 231.4 363.8 Net sales change in comparable currencies, % 0.0% 7.0% 0.5% 4.2% 1.6% Segment operating profit - 6.8 - 6.4 - 18.1 - 14.7 - 3.5 Segment operating profit, % - 8.8% - 9.0% - 7.6% - 6.5% - 1.0% Update all
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CASH FLOW AND FINANCIAL POSITION
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HIGHER EBITDA AND LOWER INVESTMENTS SUPPORTED CASH FLOW 20 CHANGE IN CASH FLOWS , EUR million 1 – 9/2026 vs. 1 – 9/2025 - 87 - 45 - 12 4 4 - 100 - 80 - 60 - 40 - 20 0 20 40 60 1 - 9/2025 61 EBITDA and other Working Capital 85 Investments Financial items and taxes Dividends - 100 Debts and other 1 - 9/2026
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NET DEBT DECREASED YEAR - OVER - YEAR 21 Liquidity EUR 330 million I ncl. cash and committed undrawn credit facilities at the end of Q3’26 987 901 NET DEBT , EUR million Q3’25 Q3’26 - 86 DEBT MATURITIES 0 50 100 150 200 250 300 350 400 450 500 550 600 2026 2027 2028 2029 2030 2031- Committed Credit Facilities | Withdrawn (Major) * Committed Credit Facilities | Undrawn (Major) Leases | IFRS 16 Debt Market | Commercial Papers, Bonds Loans EUR million *Withdrawn loans due in Q4/2026
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ASSUMPTIONS AND GUIDANCE
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TIRE INDUSTRY ASSUMPTIONS FOR 2026 PASSENGER CAR & LIGHT TRUCK TIRES TRUCK TIRES RT +5 − 10% Demand expected to grow in Europe. RT - 2% − 0% Demand expected to be flat, with mixed regional development. 23 Market data based on sell - in data provided by tiremaker associations and Nokian Tyres’ own estimates of sales by tire manufacturers that do not belong to any association AGRI & FORESTRY TIRES OE & RT 0 − +3% Demand expected to grow modestly in Europe.
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GUIDANCE FOR 2026 (updated on October 27, 2026) In 2026, Nokian Tyres’ net sales are expected to grow compared to the previous year and segments operating profit as a percentage of net sales to be at the higher end of the 9 – 10% range. Assumptions Tire demand in Nokian Tyres’ markets is expected to remain flat in 2026. Development of global economy as well as geopolitical, trade and tariff uncertainties, including the ongoing conflict in the Middle East, cause volatility to the company’s business environment. Nokian Tyres’ profitability improvement is supported by new high - performing products, price/mix and efficiency improvements. 24 24
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STRATEGY EXECUTION UNDERWAY AND DELIVERING RESULTS 25 Premium positioning strengthening through brand, products and pricing Disciplined execution and efficiency improvements across the organization supporting profitability improvement New products driving growth in our selected segments (winter, all - season/all - weather, agricultural and forestry tires) Investment phase completed, creating foundation for stronger cash generation
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Q&A
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APPENDIX 27
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7 – 9/2026 • Net sales EUR 359.1 million (344.1), +4.4% • Segments operating profit EUR 47.0 million (32.4) 1 – 9/2026 • Net sales EUR 1,018.7 million (957.3), +6.4% • Segments operating profit EUR 87.7 million (40.2) GROUP SEGMENTS OPERATING PROFIT 2022 – Q3/2026 APPENDIX 28 SEGMENTS OPERATING PROFIT PER QUARTER , EUR million CUMULATIVE SEGMENTS OPERATING PROFIT PER PERIOD , EUR million -20 0 20 40 60 Q 1 Q 2 Q 3 Q 4 2022 2023 2024 2025 2026 -20 0 20 40 60 80 100 1-3 1-6 1-9 1-12
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NET SALES , EUR million 1 – 9 /2026: PASSENGER CAR TYRES BRIDGE Volume, price/mix and materials supported segment operating profit positively SEGMENT OPERATING PROFIT , EUR million 32 22 0 700 680 660 640 620 1 - 9/2025 614 668 668 1 - 9/2026 Currency Price/Mix 0 Net Sales excl FX effect Sales Volume +9% +5,2% +3,5% +0,0% APPENDIX
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NET DEBT AND DEBT MATURITIES APPENDIX 621 647 271 308 110 121 0 100 200 300 400 500 600 700 800 900 1000 1100 0 100 200 300 400 500 600 700 800 900 1000 1100 Debt 1002 Cash 101 Net Debt 901 Debt 1076 Cash 89 Net Debt 987 EUR million Net Debt Q3/ 2026 Q3/ 2025 0 24 324 127 23 46 171 100 10 31 23 16 10 20 24 200 76 0 50 100 150 200 250 300 350 400 450 500 0 100 200 300 400 500 600 2026 Share of Total 18% 2027 5% 2028 52% 2029 14% 2030 3% 2031- 7% EUR million Debt Maturities Q3/ 2026 Committed Credit Facilities | Withdrawn (Major) * Committed Credit Facilities | Undrawn (Major) Leases | IFRS 16 Debt Market | Commercial Papers, Bonds Loans *Withdrawn loans due in Q4/2026 Available liquidity, EUR million Q3/2026 Q3/2025 Cash 101 89 Committed undrawn credit facilities 228 214 Total 330 303 30
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DISCLAIMER Statements in this presentation, which are not historical facts, such as expectations, anticipations, beliefs and estimates, are forward - looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties which may cause actual results to materially differ from tho se expressed in such forward - looking statements. Nokian Tyres assumes no responsibility to update any of the forward - looking statements contained herein. No representation or warranty, express or implied, is made or giv en by or on behalf of Nokian Tyres or its employees or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this presentation.