Slides
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11 ° = Wallenius Wilhelmsen ASA Q2 2026 W
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This presentation contains forward-looking information and statements relating to the business, financial performance and results of the Group, and/or the industry and markets in which it operates. Forward-looking statements are statements that are not historical facts and may be identified by words such as "aims", "anticipates", "believes", "estimates", "expects", "foresees", "intends", "plans", "predicts", "projects", "targets", and similar expressions. Such forward-looking statements are based on current expectations, estimates and projections, reflect current views with respect to future events, and are subject to risks, uncertainties and assumptions. Forward-looking statements are not guarantees of future performance and risks. Uncertainties and other important factors could cause the actual results of operations, financial condition and liquidity of the Group or the industry to differ materially from this results expressed or implied in this presentation by such forward-looking statements. No representation is made that any of these forward-looking statements or forecasts will come to pass or that any forecast result will be achieved, and you are cautioned not to place any undue influence on any forward-looking statement. Disclaimer
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1. Highlights 2. Market update 3. Business update 4. Sustainability update 5. Financial update 6. Prospects & Q&A Agenda
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Strong outlook 4 Adjusted EBITDA for Q2 2026 ended at USD 361m, down 7% QoQ, reflecting higher bunker expenses in Shipping services Maintained outlook for 2026 with adjusted EBITDA of about USD 1.6bn Continued strong and growing shipping demand from Asia resulted in full utilization of fleet and increasing freight and charter rates Resolved to pay a total dividend of USD 0.61 per share for H1-26, based on 50% of the net profit combined with an extraordinary dividend of USD 100m Continued positive development in Logistics services due to operational improvement program Check with Kristin the part of increasing freight and charter rates. Take out Government part? Check Workiva on what it says
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1. Highlights 2. Market update 3. Business update 4. Sustainability update 5. Financial update 6. Prospects & Q&A Agenda
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Three major market trends to watch 6 Chinese exports booming RoRo in short supply Rates strengthening1 2 3
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Source: CPCA, KAMA, JAMA Development of passenger car volumes ex. West Source: Mobility Global (prev. S&P) Continued strong volume growth ex-Asia driven by China 7 Million light vehicles and implicit YoY changeMillion light vehicles and implicit YoY change Development of passenger car volumes ex. East 2.4 3.3 2.2 2022 3.8 4.0 2.7 2023 4.7 3.8 2.7 2024 5.7 3.8 2.6 2025 4.3 1.5 1.4 6.8 L12M 8.5 3.6 2.8 Annu. 2026 data 0.7 3.4 1.8 2020 1.5 3.4 2.0 2021 5.9 6.8 7.9 10.5 11.2 12.1 13.9 14.9 +49% +15% +23% China Japan Korea 2.1 0.3 2021 2.0 0.6 0.2 2022 2.2 0.6 0.2 2023 2.0 0.5 0.2 2024 1.9 0.5 0.20.6 0.8 0.2 1.3 L12M 1.7 0.4 0.2 Annu. 2026 data 2.0 0.7 0.3 2020 3.1 3.1 2.8 2025 2.8 2.6 2.4 2.3 3.0 -6% -12% EU USA UK 34% 72% 0% 2% ex.East China Japan Korea YoY YTD change -13% -12% -12% -15% ex.West EU USA UK YoY YTD change
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Source: CPCA Chinese Exports of Passenger Vehicles Domestic market weakness accelerates China’s export push 8 Million unitsMillion units Chinese Retails Sales of Passenger Vehicles 2022 2023 2024 2025 12 months rolling 20.5 21.7 22.9 23.7 21.5 -9% 2022 2023 2024 2025 12 months rolling 2.4 3.8 4.7 5.7 7.5 +31%
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Source: Mobility Global, WAWI Analysis World excl. Mainland China, US and Russia auto sales Chinese OEMs taking market share in China and abroad 9 Market share of auto salesMarket share of auto sales Mainland China auto sales 71% 29% 0 10 20 30 40 50 60 70 80 90 100 2018 2019 2020 2021 2022 2023 2024 2025 2026E Chinese Non-Chinese 11% 89% 0 10 20 30 40 50 60 70 80 90 100 2018 2019 2020 2021 2022 2023 2024 2025 2026E Chinese Non-Chinese
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Sources: China Customs, SMMT, VFACTS, UK – car registrations by Chinese OEM brands, AUS – car registrations by country of origin, China, 3 months lag from export to registration Australia No signs of inventory build-up of Chinese cars in destination markets 10 Thousand vehicles (lhs) and percentage (rhs)Thousand vehicles (lhs) and percentage (rhs) United Kingdom 0 20 40 60 80 100 120 140 160 180 200 220 5 10 15 20 25 30 35 40 45 50 0 07-24 08-24 09-24 10-24 11-24 12-24 01-25 03-25 04-25 05-25 06-25 07-25 08-25 09-25 10-25 11-25 12-25 01-26 02-26 03-26 04-26 05-26 06-26 07-26 02-25 0 20 40 60 80 100 120 140 160 180 200 220 240 5 10 15 20 25 30 35 40 45 50 55 60 65 0 07-24 08-24 09-24 10-24 11-24 01-25 02-25 03-25 04-25 05-25 06-25 07-25 08-25 09-25 10-25 11-25 12-25 01-26 02-26 03-26 04-26 05-26 06-26 07-26 12-24 China Customs Car reg Ratio - Sales/Export
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China Customs vehicle exports1 and RoRo capacity2 trend Chinese OEMs prefer RoRo but struggle to find capacity 11Source: Chinese customs, WAWI analysis, 1 Exports include light vehicles and H&H above 5mt 2 RoRo capacity based on internal analysis of AIS vessel movements and estimated deployed capacity at Chinese ports • A widening capacity deficit push OEMs to find alternative transport modes, including container, LoLo, and landbridge options • Our analysis indicates that annual non- RoRo volumes currently range between 2m and 4m unitsNon-RoRo cargo 22 Q1 22 Q2 22 Q3 22 Q4 23 Q1 23 Q2 23 Q3 23 Q4 24 Q1 24 Q2 24 Q3 24 Q4 25 Q1 25 Q2 25 Q3 25 Q4 26 Q1 26 Q2 China Customs exports RoRo capacity Illustrative
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Fleet development as expected with ordering activity picking up 12Source: Clarksons and WAWI analysis. 1 Calculation excludes all vessels below 2,000 CEU, no delays, and deliveries are not timeweighted. Options are not included 2 6.5k CEU capacity vessel, 3 6.5k CEU equivalent vessel • Expect around 60 vessels to be delivered to the fleet in 2026 • 17 vessels ordered in Q2 2026, increasing order book to ~21% • New slots for delivery only available from 2030 and onward2025 0.2 2026E 0.4 2027E 0.3 2028E 2029E 0.1 2030E 0.2 2023 5.9 4.1 4.4 5.0 5.4 5.7 6.0 5.9 2024 +8% +13% +9% +6% +3% +1% -2% Newbuildings Fleet size Recycling Vessels ≥ 30-year-old Q1-26: 16x vessel delivered Q2-26: 14x vessels delivered Q3-26: 3x vessels delivered & 14x to be delivered Q4-26: 12x to be delivered 30-year-old3: 2027 – 16 vessels 2028 – 28 vessels 2029 – 54 vessels Development of global fleet capacity1 Million CEU
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Assessed “spot” rate levels from Asia to Europe 1-year TC-in rates1 development Increasingly tight freight and charter market despite fleet growth 13 USD per cbm USDk per day 60 70 80 90 100 110 120 130 140 150 160 170 Jan 25 Mar 25 May 25 Jul 25 Sep 25 Nov 25 Jan 26 Mar 26 May 26 Jul 26 Sep 26 +79% Jul 24Jul 23 Jan 25 Jul 25 Jan 26 Jul 26 35 40 45 50 55 60 65 70 75 80 85 90 95 100 105 110 115 120 Jan 24 90 80 +88% +80% A recent 2-year agreement for a newbuild was concluded at USD 80K/d 6.5k 1-TC 7k 1-TC (DF) Sources: Hesnes Shipping (freight rate), Clarksons (TC-rates) and WAWI analysis. 1 6.5k CEU equivalent vessel
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Jul 22 Jan 23 Jul 23 Jan 24 Jul 24Jan 20 Jul 20 Jul 25Jan 21 Jan 26Jul 21 Jul 26Jan 22 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 Jan 25 Source: Clarksons Bunker prices continue to be elevated following Strait of Hormuz closure The ME conflict has triggered significant volatility in fuel prices 14 USD/t High and volatile fuel prices Fuel availability currently sufficient Customer sentiment switching to EVs MGO Bunker Prices, Singapore VLSFO Bunker Prices (0.5% Sulphur), Singapore
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1. Highlights 2. Market update 3. Business update 4. Sustainability update 5. Financial update 6. Prospects & Q&A Agenda
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Adjusted EBITDA of USD 361m in the quarter 16 Shipping services Logistic services Government services 411 409 354 333 299 Q2 25 Q3 25 Q4 25 Q2 26Q1 26 -10% 32 34 28 42 47 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 +10% USD m in revenues USD m in revenues998 278 86 USD m of adj. EBITDA299 47 26 USD m of adj. EBITDA USD m of adj. EBITDA Adj. EBITDA, USD m Q2 2026 financials USD m in revenues 41 44 22 23 26 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 +11%
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Shipping services volumes and H&H share Seasonal pickup in volumes QoQ, largely unchanged YoY as capacity remains stable and fully utilized 17 Million cbm1 & H&H/BB %-share of total2 Source: WAWI internal data. 1 Prorated volume (WW Ocean, EUKOR, ARC and Armacup), 2 H&H/Breakbulk share calculated based on unprorated volumes. Auto H&H/BB Share of H&H/BB Prior to Red Sea avoidance • Volumes recovered from a seasonal slow in Q1 ex. West and was flat QoQ ex. East due to capacity • H&H and BB share of volume was stable QoQ but marginally up YoY – nominal volumes slowly improving 28% Q2 23 27% Q3 23 27% Q4 23 25% Q1 24 25% Q2 24 23% Q3 24 23% Q4 24 21% Q4 22 24% Q2 25 23% Q3 25 23% Q4 25 25% Q1 26 25% Q2 26 31% Q2 22 31% Q3 22 28% Q1 25 28% 13.7 13.1 13.6 Q1 23 +4% -1% TBU
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1 TCE earnings/day is net of fuel surcharges and fuel cost Net freight rate/cbm and estimated net TCE earnings/day1 Net rate per cbm for Q2 2026 down 3% QoQ due to cargo mix 18 54 57 55 55 54 56 57 60 61 61 66 66 65 65 62 63 61 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 -3% -5% Net freight rate per CBM (USD 000) Estimated TCE earnings/day (USD) Q2 25 -6.1 Price effect 2.5 Customer/trade Mix Q2 26 64.9 61.4 -5% Q1 26 -0.4 Price effect -1.5 Customer/trade Mix Q2 26 63.2 61.4 -3% Net freight rate/cbm YoY (USD) Net freight rate/cbm QoQ (USD)
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Middle East effect on Wallenius Wilhelmsen Hormuz and Bab-el-Mandeb straits still effectively closed 19 Hormuz Bab-el- Mandeb No sailings through Strait of Hormuz at present Bab-el-Mandeb remains a no-go zone From Q1-2026 presentation
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Adjusted EBITDA Continued positive development in Logistics services due to improvement program launched in H2 2025 20 USD m and EBITDA margin 28 30 34 28 42 47 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 0 5 10 15 20 25 30 35 40 45 50 55 60 65 10% Q1 25 11% Q2 25 13% Q3 25 11% Q4 25 15% Q1 26 17% Q2 26 MIRRAT contribution Logistics EBITDA margin excl MIRRAT From Q4-25 presentation
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Government services revenue split1 Government services impacted by regular docking of vessels and temporary lower volumes 21 Million USD Source: WAWI internal data. 1 Not fully adjusted for eliminations • Q2 negatively impacted by regular docking of vessels • Middle East conflict and vessel activation has temporary increased competition for cargo in the Atlantic 93 86 79 87 63 54 64 13 13 13 13 13 17 14 4 8 14 13 12 16 8 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 111 107 106 112 88 87 Q2 26 86 -19% -1% US Government MSP Commercial
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1 Estimated contracted Net freight value based on forecasts, 2 Includes contract values above and below USD 100m, excludes the business areas terminals and inland 3 Includes estimated contract values above and below USD 100m, 4 Weighted by net freight for Shipping and revenue for Logistics % of Shipping volume based on contract startup1 Estimated contract revenue split for Logistics services (USD m)2 Contract backlog details Sold out in 2026 – negotiations for 2027 ongoing 22 7% 5% 9% 58% 13% 10% 1% 2026E 4% 47% 8% 1% 40% 2027E Contract Start 2022 Contract Start 2023 Contract Start 2024 Contract Start 2025 Contract Start 2026 Rate Agreement Renewal 12% 20% 68% 2026E 2027E After 2028E Shipping services Logistics services Value of contract backlog 6.5bn USD 2.7bn USD Value of contracts entered during Q23 ~460m USD ~141m USD Weighted contract duration4 2.9 years 8.1 years Average net rate in book of business ~USD 54 per cbm N/A Estimated lifting capacity
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1. Highlights 2. Market update 3. Business update 4. Sustainability update 5. Financial update 6. Prospects & Q&A Agenda
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LTIF for Shipping & Government and Logistics services Positive QoQ development in LTIF’s for Shipping and Logistics 241 LTIF Shipping (including Government services): frequency per million man-hours exposed, 2 LTIF Logistics: per million man-hours worked • LTIF Shipping1 is at 0.21 for Q2 2026, down from 0.41 in Q1 2026 • LTIF Logistics2 is at 12.23 for Q2 2026, down from 13.77 in Q1 2026 1.12 Q3 24 0.18 Q4 24 1.02 Q1 25 0.20 Q2 25 0.54 Q3 25 0.66 Q4 25 0.41 Q1 26 Q2 26 0.21 LTIF LTM Target 12.18 Q3 24 9.25 Q4 24 12.35 Q1 25 10.08 Q2 25 9.63 Q3 25 9.02 Q4 25 13.77 Q1 26 Q2 26 12.23 Logistics2 Shipping & Govt.1
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Morning Concert safely exits the Persian Gulfon 30 June 25 There were difficult days, but what impressed me most was how the crew continued to look after each other. Crew, Morning Concert
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Total emissions CO2e intensity Absolute emissions remains stable with intensity down due to increased fuel efficiency and low carbon fuels 26 Thousand tonne CO2e gCO2e / tonne nautical miles (EEOI) Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 57.7 61.2 64.7 61.8 61.8 64.0 63.6 60.6 60.7 -2% -5% 178 180 182 188 190 198 192 191 990 997 Q3 24 Q4 24 1,010 Q1 25 1,020 Q2 25 1,039 Q3 25 1,065 Q4 25 1,034 Q1 26 1,029 Q2 26 1,168 1,177 1,192 1,208 1,229 1,263 1,226 1,220 1% 0% Tank-to-wake Well-to-tank • EEOI decreased YoY by 2% and QoQ by 5%, reflecting lower emissions intensity through improved fuel efficiency, and increased use of biofuels and LNG, despite higher speed and cargo transport work • Total fuel consumption increased by 3% YoY driven by higher average sailing speeds, while total emissions increased only by 1% as it was supported by increased use of biofuel, LNG and bio-LNG. • Total emissions were broadly stable QoQ, declining slightly as fuel efficiency and greater use of low-carbon fuels offset higher speed. Actual CO2e intensity CO2e intensity target 7% 5% 5% 7% 7% 9% 9% 11% Biofuel/LNG % of fuel consumption
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Wind in her sail: installation of wing sail on Tirranna completed 27 Video credit: Oceanbird Image credit: David Falk, Göteborgs Hamn
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1. Highlights 2. Market update 3. Business update 4. Sustainability update 5. Financial update 6. Prospects & Q&A Agenda
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Financial highlights USD m, except EPS, per cent and multiples ° Metric ¹ Long-term, over-the-cycle targets. ROCE: LTM adj. EBIT / LTM average capital employed | Equity ratio: Total equity / total ass ets | Leverage ratio: Net interest-bearing debt / LTM adj. EBITDA. ROCE and equity ratio adjusted following the Q2 2024 restatement. 30 FINANCIAL TARGETS 1PERFORMANCE 1 350 1 253 472 389 1 305 361 472 381 349 403 177 138 451 322 260 1 742 2 065 2 011 -3% 4% -24% -7% -26% -9% -66% -22% -42% -19% 15% -3% Q2 2025 Q1 2026 Q2 2026 YoY QoQ Target >12% >35% <3.0x >1.0bn Q2 2026 15.6 % 48.8 % 1.2x 1.2bn ROCE Equity ratio Leverage ratio Liquidity 0.90 0.38 0.29 -67% -22% Revenue Adjusted EBITDA Reported EBITDA Net profit Operating cash flow Net debt EPS
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974 943 9981 033 1 011 -3.5% +5.8% Adjustment reversals are linked to adjustments made in Q4 25 (see Q4 25 report for more detail) Revenue1 (USD m) Adj. EBITDA development QoQ (USD m) Adj. EBITDA (USD m) Shipping services adjusted EBITDA down USD 34m QoQ on increased cost, especially net bunker cost 30 411 409 354 333 299 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 -27% -10% 333 299 10 Q1 26 adj. EBITDA Net freight Net bunker cost Other voyage + cargo expenses Vessel opex Charter expenses SG&A Q2 26 adj. EBITDA -31 -8 -5 -3 3 Adjustment reversals
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net fuel surchage Average quarterly VLSFO Bunker Price Sources: Clarksons, WAWI data QoQ change in net bunker cost vs VLSFO development Net bunker costs are expected to come down in H2 31 USD million (lhs) and USD/metric ton (rhs) • In Q3 2026, net bunker cost is expected to decrease as costs are recovered through Bunker Adjustment Factors (BAF) • There is typically a 2–4-month lag between fuel price changes and fuel surcharge • When fuel prices increase, our recovery lags, and when fuel costs decline, recovery overshoots 18 6 -49 -68 -80 -60 -40 -20 0 20 40 60 80 100 100 200 300 400 500 600 700 800 900 1,000 0 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Q4 26 Q3 22
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Revenue (USD m) Adj. EBITDA development QoQ (USD m) Logistics services adjusted EBITDA up 8% QoQ driven by the operational improvement program launched in H2 2025 32 273 272 261 289 278 +2% -4% 32 34 28 42 46 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 +42% +8% 42 46 17 Q1 26 adj. EBITDA Revenue Operating cost SG&A Q2 26 adj. EBITDA -11 -2 +8% Adj. EBITDA (USD m) Adjustment reversals
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Revenue (USD m) Adj. EBITDA development QoQ (USD m) Government services adjusted EBITDA up 11% QoQ, driven by higher US Government volumes 33 106 112 86 87 86 -19% -1% 41 44 22 23 26 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 -37% +11% 23 26 11 3 1 Q1 26 adj. EBITDA US government revenues MSP Commercial revenues Operational cost SG&A Q2 26 adj. EBITDA -3 -8 +11% Adj. EBITDA (USD m)
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890 627 547 361 552 Net proceeds/ repayments Dividend (34) Other financial items 11 Taxes paid Cash Q2 26 Cash RCF FX effect on cash Cash Q1 26 EBITDA (74) Δ Other assets/ liab (14) (14) Other operating items (109) Net capex 12 Other investing items2 0 (38) Interest paid 1 437 1 179 (364) -18% (-258) Cash flow and liquidity development Solid liquidity position 34 Million USD 1 Cash conversion: Operating cash flow/adj. EBITDA 2 Includes interest received on bank deposits and dividends from joint ventures and associates • Cash and cash equivalents at quarter end of USD 0.6bn with total liquidity reserves of USD 1.2bn • Operating cash flow was USD 260m, reflecting lower EBITDA and higher working capital, mainly due to fuel prices and inventory. Cash conversion ratio 72%1 • Investing cash flow negative USD 98m mainly explained by newbuild instalments (USD 54m) and other vessel CAPEX • Financing cash negative USD 436m driven by lease and debt payments, including scheduled instalments and dividend to minority shareholders of subsidiaries Operating cash flow Investing cash flow Financing cash flow 260 -98 -436
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Equity NIBD Liquidity reserves Continued strong financial position 35 Billion USD Billion USD Billion USD 1.4 0.5 Q2 25 1.1 0.6 Q3 25 1.1 0.9 Q4 25 0.9 0.5 Q1 26 0.6 0.6 Q2 26 1.9 1.7 2.0 1.4 1.2 -18% Cash balance RCF 1.5 1.5 -1.1 Q3 25 1.3 1.5 -1.1 Q4 25 1.4 1.5 -0.9 Q1 26 1.11.6 -0.6 Q2 26 1.5 -1.4 Q2 25 1.7 1.9 1.7 2.1 2.0 0.9x 1.0x 1.0x 1.2x 1.2x 1.5 -3% Bank/bond debt Leasing debt Cash balance Leverage ratio 40.9% Q2 25 40.3% Q3 25 42.2% Q4 25 39.4% Q1 26 48.8% Q2 26 3.3 3.1 3.3 3.1 3.7 20% Book equity Equity ratio • Equity ratio increased to 48.8%, reflecting the accounting remeasurement of the EUKOR put liability • EUKOR put liability reduced to USD 386m (non- current) from USD 851m in Q1 (current) • NIBD at USD 2.0bn with reduction in both interest-bearing debt and cash balance QoQ • Leverage ratio remained stable at 1.2x • Total liquidity reserves of USD 1.2bn, down 18% reflecting debt repayments and continued focus on rightsizing liquidity
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We have taken significant steps to optimize our capital structure and efficiency during the past 18 months 36 Repaid higher cost debt • Lower debt levels with high-cost debt repaid drive significant interest cost savings Rightsized liquidity and reduced cash position • Cash balance reduced following debt repayments and dividend distribution • Strong liquidity position maintained with (drawn) ship loans converted to revolving credit facilities USD 1.4bn → 0.6bn cash balance USD 1.8bn → 1.1bn Bank/bond debt Secured access to more flexible funding at improved terms • Debt refinanced at significantly reduced margins with longer tenor and increased flexibility • Long-term committed funding capacity supported by revolving credit facilities USD 1.2bn Refinanced
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Declared dividends1 Cash dividend of USD 258m for H1 2026 approved 37 USD 1 Dividend for H1 2024 is not showing payment of the second tranche of the 2023 dividend of USD 0.46 per share. The payment in H1 2024 was the first under the company’s revised dividend policy. The USD 0.61 was linked to H1 2024 earnings • On August 10, 2026, the Board resolved to pay a dividend USD 0.61 per share for H1 2026, equal to USD 258m • The dividend is based on 50% of the company’s net profit for H1 2026 plus an extraordinary dividend of USD 100m considering the strong financial position • The last day of trading including dividend will be August 25, 2026, and the payment date will be o/a September 16, 2026 50% H1 2024 95% H2 2024 72% H1 2025 94% H2 2025 82% H1 2026 0.61 1.24 1.10 1.01 0.61 0.61 0.65 0.59 0.77 0.33 0.54 0.47 0.37 0.24 Ordinary dividend Extraordinary dividend per share Share ot net profit 257 524 465 428 Total dividend (USDm) 258
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1. Highlights 2. Market update 3. Business update 4. Sustainability update 5. Financial update 6. Prospects & Q&A Agenda
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Prospects 39 Strong demand, in particular for Shipping services, has continued into the second half of 2026 and we expect solid volumes and high utilization to continue. The time charter market for vessels has tightened further and will continue to put pressure on capacity. We expect 2026 to be another solid year for Wallenius Wilhelmsen and maintain our expectation of an adjusted EBITDA for 2026 of about USD 1.6bn. However, our outlook remains dependent on the length and the effects of the Middle East conflict, and other potential material adverse effects. TBU
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Save the Date Market Update 2026 24.09.2026 in Oslo, Norway More information to come
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Q&A
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Thank you!
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Appendix
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Source: China Customs, WAWI Analysis Chinese light vehicles exports split by destination (excl. Russia) Chinese exports increased to all destination markets QoQ and YoY except to the Middle East 44 Thousand units 332 310 355 324 319 380 367 369 452 511 537 579 745147 208 244 212 212 260 245 233 334 408 448 345 547 119 126 138 112 126 157 99 134 136 124 214 90 140 82 100 103 116 177 112 112 129 207 181 261 313 420 125 137 173 155 216 223 274 260 325 397 472 315 255 72 77 66 70 159 87 1 000 0 200 400 600 800 1 200 1 400 1 600 1 800 2 000 2 200 2 400 3241 Q4 24 3151 Q1 25 40 Q2 25 Q3 25 62 Q4 25 59 Q1 26 Q2 26Q4 23 1463 Q2 23 11884 943 1 070 971 1 120 1 202 1 169 1 208 1 567 1 752 51 1 772 2 352 Q3 23 1442 1239 54 Q1 24 2247 Q2 24 3038 Q3 24 2 059 +33% +50% Europe Other Asia North America South America and Caribbean1 North Africa and Middle East Oceania Africa QoQ growth YoY growth 65% 64% 3% 103% -22% South America and Caribbean North America1 Other Asia Africa 29% 56% 34% -19% 59% Europe 121% 115% 128% 46% North Africa and Middle East Oceania Slide not included in Q2 webcast
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Sources: WAWI analysis, European Automobile Manufacturers’ Association (ACEA), Kraftfahrt-Bundesamt (KBA), Society of Motor Manufacturers and Traders (SMMT), National Association of the Automotive Industry (ANFIA), Automotive Manufacturers Association (OSD), Polish Automotive Industry Association (PZPM), BOVAG, FEBIAC, ANFAVEA, New car registrations in different markets Chinese OEMs continue their success abroad 45 Market share and YoY H1 change Country 2025 auto market Chinese OEM %-share H1 2025 H1 2026 EU + EFTA + UK 13.3 m 7% 11% 2.9 m 2% 4% 2.0 m 10% 18% 1.5 m 5% 12% 0.8 m 13% 9% 0.6 m 6% 13% 0.4 m 4% 8% 0.4 m 3% 7% 0.3 m 3% 6% 2.6 m N/A 20% 1.2 m 16% 28% 1.6x 1.8x 2.2x 2.2x 1.8x 2.3x 2.1x N/A 1.8x 2.2x 0.7x Slide not included in Q2 webcast
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Volumes handles at our facilities Logistic services volumes 461 Excludes stevedoring Auto 1.1 1.2 1.3 1.4 1.5 1.6 1.5 1.6 1.6 1.5 1.5 1.5 1.5 1.6 1.4 1.5 1.5 0% -3% Million units H&H 67 96 116 64 63 59 55 49 55 55 44 36 43 46 47 45 48 5% +10% ‘000 Units Terminals1 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 542 Q2 22 Q3 22 508 526 486 493 478 479 Q4 22 443 454 449 436429 317 286 317 343342 +8% +15% ‘000 Units Slide not included in Q2 webcast Terminals Volume ex. MIRRAT H&H