Interim report
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WILH. WILHELMSEN HOLDING ASA Third quarter 2026
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Highlights for the quarter Wilhelmsen delivered another solid quarter, with total income and EBITDA increasing year-over- year. Net profit after financial items and tax amounted to USD 155 million. Key figures USD mill EBITDA 42 45 50 62 61 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 20 40 60 80 USD mill Shareholders' equity 3 197 3 262 3 373 3 535 3 815 Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026 500 1 000 1 500 2 000 2 500 3 000 3 500 4 000 4 500 USD EPS 3.37 3.07 2.68 3.49 3.70 Q3 2025 Q4 2025Q1 2026Q2 2026 Q3 2026 1.00 2.00 3.00 4.00 Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 2 USD 61 million in EBITDA Including: • USD 40 million EBITDA in Maritime Services. • USD 24 million EBITDA in New Energy. Up 47% from the corresponding period last year and down 2% from the previous quarter. USD 122 million in share of profit from joint ventures and associates Of which: • USD 72 million share of profit from Wallenius Wilhelmsen. • USD 51 million share of profit from Hyundai Glovis. • USD 2 million share of loss from other joint ventures and associates. Down 8% from the corresponding period last year and up 8% from the previous quarter. USD 8 million impairment of goodwill in Maritime Services Post quarter events Wallenius Wilhelmsen completed a USD 300 million private placement in October to finance its newbuilding program. Wilhelmsen participated in the offering, investing approximately USD 50 million and now holds a 37.04% ownership interest. A second dividend of NOK 8.50 per share will be paid on 19 November. This is in addition to the dividend of NOK 20.00 per share paid in May.
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Financial performance Group liquidity and debt USD mill Cash and cash equivalents Current financial investments Interest- bearing debt Lease liabilities Net interest- bearing debt Maritime Services 148 21 43 (85) New Energy 147 310 82 244 Strategic Holdings and Investments 227 410 130 26 (481) Eliminations (152) (176) (7) (31) Total WWH Group 370 410 285 143 (352) Group result for third quarter 2026 Total income for the Wilh. Wilhelmsen Holding ASA group (referred to as Wilhelmsen or group) was USD 327 million in the third quarter of 2026, up 5% from the corresponding period last year and up 2% from the previous quarter. The increase from last quarter was due to higher income in Maritime Services. EBITDA amounted to USD 61 million, up 47% year- over-year and down 2% from the previous quarter. EBITDA was up for both Maritime Services and New Energy year-over-year and for Maritime Services quarter-on-quarter. Share of profit from joint ventures and associates was USD 122 million, down 8% from the same period last year, but up 8% from previous quarter driven by higher contributions from Wallenius Wilhelmsen ASA and Hyundai Glovis Co., Ltd. Net profit to equity holders of the company was USD 154 million, corresponding to earnings per share (EPS) of USD 3.70. Other comprehensive income was USD 154 million, driven by currency translation differences. Total comprehensive income, including net profit and other comprehensive income attributable to equity holders of the company amounted to USD 307 million. Group balance sheet Total assets increased by USD 300 million in the third quarter, while shareholders’ equity increased by USD 280 million to USD 3 815 million. As of 30 September, the group equity ratio remained strong at 76%. In September, Wilhelmsen sold 11 964 own A-shares as part of a share purchase program for employees. Group cash flow, liquidity and debt Cash and cash equivalents amounted to USD 370 million at the end of the third quarter, an increase of USD 121 million from the previous quarter. Operating cash flow for the period was USD 19 million. Cash flow from investing activities was an inflow of USD 118 million, including dividends received from associates and proceeds from sale of the investment in Qube, partly offset by investments in tangible assets and increase in financial investments. Cash flow from financing activities was negative with USD 16 million, primarily related to debt and lease repayments. Total interest-bearing debt, including lease liabilities, was USD 428 million by the end of the third quarter, up USD 2 million from the previous quarter. Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 3 USD mill Q3 2026 Q2 2026 Q-on-Q change Q3 2025 Y-o-Y change YTD 2026 YTD 2025 Y-o-Y change Total income 327 320 2 % 310 5 % 954 921 4 % of which operating revenue 326 320 2 % 311 5 % 955 924 3 % of which other gain/(loss) (1) (3) EBITDA 61 62 (2) % 42 47 % 174 135 29 % Operating profit/EBIT 37 41 (10) % 19 89 % 109 79 38 % Share of profit/(loss) from associates 122 112 8 % 133 (8) % 318 461 (31) % Financial items 9 7 (1) 20 25 of which change in fair value financial assets (5) 4 (3) (4) of which other financial income/(expenses) 14 3 2 19 29 Profit/(loss) before tax/EBT 167 160 5 % 151 11 % 447 565 (21) % Tax income/(expenses) (12) (13) (3) (32) (24) Profit/(loss) for the period 155 147 5 % 147 5 % 415 542 (23) % Profit/(loss) to equity holders of the company 154 146 6 % 141 9 % 412 523 (21) % EPS (USD) 3.70 3.49 6 % 3.37 10 % 9.87 12.44 (21) % Other comprehensive income 154 (33) (17) 106 198 Total comprehensive income 309 114 171 % 131 136 % 521 740 (30) % Total comprehensive income to equity holders of the company 307 113 173 % 129 139 % 517 715 (28) % Total assets 5 031 4 731 6 % 4 442 13 % Shareholders' equity 3 815 3 535 8 % 3 197 19 % Total equity 3 829 3 548 8 % 3 336 15 % Equity ratio 76% 75% 75%
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Segment information Maritime Services This includes Ships Service, Port Services, Ship Management, and other business units and activities reported under the Maritime Services segment. USD mill Q3 2026 Q2 2026 Q-on-Q change Q3 2025 Y-o-Y change YTD 2026 YTD 2025 Y-o-Y change Total income 238 228 4 % 222 7 % 689 649 6 % of which Ships Service 145 141 3 % 136 7 % 420 401 5 % of which Port Services 51 48 6 % 44 16 % 142 125 14 % of which Ship Management 40 39 3 % 41 (4) % 118 120 (1) % of which other activities/eliminations 2 1 70 % 1 131 % 9 4 EBITDA 40 39 2 % 24 69 % 111 84 32 % EBITDA margin (%) 17% 17% 11% 16% 13% Operating profit/EBIT 28 30 (7) % 11 142 % 82 56 45 % EBIT margin (%) 12% 13% 5% 12% 9% Share of profit/(loss) from associates (4) 1 (2) 2 Financial items 6 (5) (4) 2 34 Tax income/(expense) (8) (6) (2) (19) (20) Profit/(loss) 22 21 6 285 % 63 72 (12) % Profit margin (%) 9% 9% 3% 9% 11% Profit/(loss) to non-controlling interests 1 1 1 3 2 Profit/(loss) to equity holders of the company 21 19 5 306 % 60 70 (13) % Maritime Services Total income for Maritime Services was USD 238 million in the third quarter, up 7% from the corresponding period last year and up 4% from the previous quarter. Revenue increased across all business units quarter-on-quarter, while Ship Management reported slightly lower revenue year- over-year. EBITDA ended at USD 40 million, up 69% year- over-year, driven by performance improvements as well as a weaker comparable period impacted by one-off accruals. EBITDA was up 2% from previous quarter driven by strong performance from all business units. Financial items amounted to USD 6 million, mainly reflecting positive development on the hedging program. Tax expenses for the quarter were USD 8 million, including changes in deferred tax. The quarter was negatively impacted by goodwill impairments of USD 8 million, recognised partly in depreciation and impairment, and partly in share of profit. The quarter ended with a net profit to equity holders of the company of USD 21 million. The situation in the Middle East continued to impact the activities in the segment, but had a neutral financial impact in the quarter. Ships Service Wilhelmsen Ships Service offers a portfolio of maritime solutions to the merchant fleet. Total income for Ships Service was USD 145 million, up 7% from the corresponding period last year and up 3% from the previous quarter. The year-over- year increase was driven by a combination of price increases and higher volumes, mainly in technical water treatment, refrigerants, fuel oil, lubricants and emission control chemicals. Quarter-on- quarter growth was driven by volume increase in fuel oil, technical water treatment, cleaning and maintenance chemicals and gas & cylinders, partly offset by lower sales in lubricants and ropes. Port Services Wilhelmsen Port Services provides full agency, husbandry, and protective agency services to the merchant fleet. Total income for Port Services was USD 51 million, up 16% from the corresponding period last year and up 6% from the previous quarter. The year-over- year and quarter-on-quarter increase was mainly due to strong activity in cargo operations and husbandry. Ship Management Wilhelmsen Ship Management provides full technical management, crewing, and related services for all major vessel types. Total income for Ship Management was USD 40 million in the third quarter, down 4% from same period last year but up 3% from the previous quarter. Underlying performance remained stable, with a stable fleet under management. Other activities This includes Wilhelmsen Chemicals, Wilhelmsen Insurance Services, Global Business Services, and certain other activities reported under the Maritime Services segment. Total income from other activities increased year- over-year and quarter-on-quarter driven by solid activity across the portfolio. A large part of the income is generated from intercompany services and product sales to other Maritime Services entities, which are eliminated in the segment accounts. Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 4
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Segment information New Energy This includes NorSea and other business units and activities reported under the New Energy segment. New Energy Total income for New Energy amounted to USD 88 million in the third quarter, stable from the corresponding period last year but down 4% from the previous quarter. EBITDA was USD 24 million, up 15% from corresponding period last year, reflecting continued strong performance in NorSea, but slightly down 5% from the previous quarter. Share of profit from joint ventures and associates was USD 2 million in the third quarter, down from previous quarter which was impacted by gains from Edda Wind’s completion of fleet sale. Net financial items amounted to an expense of USD 9 million. The increase from previous quarter was due to higher interest rates and increased debt drawdowns. Profit to equity holders was USD 7 million in the third quarter. NorSea NorSea provides supply bases and integrated logistics solutions to the offshore industry. Wilhelmsen owns 99.7% of NorSea. Total income for NorSea was USD 87 million in the third quarter. This was stable year-over-year, but down 4% from the previous quarter. Activity levels in NorSea remain solid. Share of profit from joint ventures and associates in NorSea was USD 3 million in the third quarter, supported by continued solid activity in CCB. Other activities This includes Edda Wind AS (owned 37.8 %), Reach Subsea ASA (owned 29.6%), Raa Labs AS (owned 74.6%), Massterly AS (owned 50%), and certain other business units and activities reported under the New Energy segment. Total income for other activities was USD 1 million for the quarter. Share of profit from other activities was USD 1 million for the quarter, down from previous quarter which was impacted by the gain from the Edda Wind fleet sale. Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 5 USD mill Q3 2026 Q2 2026 Q-on-Q change Q3 2025 Y-o-Y change YTD 2026 YTD 2025 Y-o-Y change Total income 88 91 (4) % 87 — % 263 269 (2) % of which NorSea (Energy Infrastructure) 87 90 (4) % 87 — % 260 267 (3) % of which other activities/eliminations 1 1 1 3 2 EBITDA 24 25 (5) % 21 15 % 70 57 23 % EBITDA margin (%) 27% 28% 24% 27% 21% Operating profit/EBIT 13 14 (9) % 12 8 % 38 32 18 % EBIT margin (%) 15% 16% 14% 14% 12% Share of profit/(loss) from associates 2 37 (94) % 4 neg. 36 18 107 % Financial items (9) (2) (4) (15) (22) Tax income/(expense) (1) 1 Profit/(loss) 7 48 (86) % 12 (45) % 59 28 110 % Profit margin (%) 8% 53% 14% 22% 10% Profit/(loss) to non-controlling interests 1 1 Profit/(loss) to equity holders of the company 7 48 (86) % 12 (44) % 58 27 111 %
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Segment information Strategic Holdings and Investments This includes the strategic holdings in Wallenius Wilhelmsen ASA and Hyundai Glovis Co., Ltd, and other financial and non-financial investments, business units and activities reported under the Strategic Holdings and Investments segment. Strategic Holdings and Investments Strategic Holdings and Investments reported a USD 126 million profit in the third quarter. This represents a year-over-year decline, but increase from previous quarter. The reduction from corresponding period last year was mainly due to lower share of profit from Wallenius Wilhelmsen ASA, partly offset by higher contribution from Hyundai Glovis Co., Ltd, and higher other financial income. The increase from previous quarter was mainly driven by higher share of profit from Wallenius Wilhelmsen and Hyundai Glovis Co., Ltd. Wallenius Wilhelmsen Wallenius Wilhelmsen ASA is a market leader in RoRo shipping and vehicle logistics and is listed on Oslo Børs. Wilhelmsen owned 37.9% of the company in Q3, and it is reported as an associate in Wilhelmsen’s accounts. Share of profit from Wallenius Wilhelmsen was USD 72 million for the quarter. This is down from USD 97 million in the corresponding period last year, but up from USD 48 million in the previous quarter. The book value of the 37.9 % shareholding in Wallenius Wilhelmsen ASA was USD 1 181 million at the end of the quarter. Hyundai Glovis Wilhelmsen holds a 11.0% ownership interest in Hyundai Glovis Co., Ltd., which is reported as an associate in Wilhelmsen’s accounts. Share of profit from Hyundai Glovis amounted to USD 51 million for the quarter, up from USD 31 million in the corresponding period last year, and up from USD 27 million in the previous quarter. The book value of the 11.0 % shareholding in Hyundai Glovis was USD 934 million at the end of the quarter. Financial investments Financial investments include cash and cash equivalents, current financial investments, and other financial assets held by the parent and fully owned subsidiaries. Net income from investment management was USD 7 million for the quarter. The market value of current financial investments stood at USD 410 million at the end of the third quarter. The change in fair value of non-current financial assets in Strategic Holdings and Investments resulted in a loss of USD 5 million for the quarter. The fair value at the end of the third quarter was USD 35 million. The acquisition of Qube Holdings Limited by a Macquarie-led consortium was completed in August, resulting in the sale of Wilhelmsen’s 25 million shares in Qube for a total consideration of USD 92 million. Other activities This includes Wilservice AS, holding company activities, and certain other business units and activities reported under the Strategic Holdings and Investments segment. Income for other activities remained limited during the quarter. Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 6 USD mill Q3 2026 Q2 2026 Q-on-Q change Q3 2025 Y-o-Y change YTD 2026 YTD 2025 Y-o-Y change Total income 4 4 4 12 12 of which operating revenue 4 4 4 12 12 of which other gain/(loss) EBITDA (2) (2) (3) (6) (5) Operating profit/EBIT (4) (3) (4) (10) (9) Share of profit/(loss) from associates 123 74 66 % 128 (4) % 284 442 (36) % of which Wallenius Wilhelmsen ASA 72 48 51 % 97 (26) % 182 340 (47) % of which Hyundai Glovis 51 27 91 % 31 64 % 102 101 1 % of which other/eliminations (1) Change in fair value financial assets (5) 4 (3) 2 Other financial income/(expenses) 17 17 9 39 18 of which investment management 7 9 6 20 12 of which financial income from group companies 1 1 3 3 9 of which other financial income/(expense) 9 7 16 (3) Tax income/(expense) (5) (8) (1) (14) (6) Profit/(loss) 126 85 49 % 129 (3) % 300 448 (33) % Profit/(loss) to non-controlling interests 5 16 Profit/(loss) to equity holders of the company 126 85 49 % 124 1 % 300 432 (31) %
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Outlook Wilhelmsen is an industrial holding company within the maritime industry. The group’s main activities are within maritime services, offshore energy services, and RoRo shipping and vehicle logistics. These activities are carried out through fully and partly owned entities, most of which are among the market leaders within their segments. Founded in Norway in 1861, Wilhelmsen maintains a vision of shaping the maritime industry. Outlook for Maritime Services Maritime Services delivers value creating solutions to the global merchant fleet, focusing on Ships Service, Port Services, and Ship Management. Short term, a volatile global trade environment is expected to have an impact on global shipping. The indirect impact on Maritime Services’ operation from fluctuating shipping markets has historically been relatively limited. The segment is sensitive to currency movements and the effects of this may increase in periods with volatility. The impact to Maritime Services following the escalation in the Middle East remains uncertain. Given the scope of the group’s activities in the area, the conflict will have an impact on the performance, but the overall consequences will depend on the duration and scale of the conflict, as well as the marine traffic and activity levels in the affected areas. Underlying demand for Maritime Services is expected to remain stable for the remainder of 2026, but the uncertainty, especially related to the developments in the Middle East, will require continued close monitoring. Looking further ahead, we believe that the Maritime Services market will continue to grow, supported by a growing world economy. With global networks, strong brands built over many years, and a long history of innovation and market adaptation, Wilhelmsen is in a good position to service this market. Outlook for New Energy The New Energy segment focuses on developing and strengthening industrial positions within the maritime energy value chain and the energy transition. With segment companies representing energy infrastructure, offshore wind, and technology and decarbonisation, Wilhelmsen is driving value creation by bringing together their unique competencies. Geopolitical risks continue to impact the European energy market, supporting continued solid activity for New Energy operations in 2026. Longer term, the economic uncertainty and changing energy market dynamics may impact activity levels in the segments and areas serviced by the group companies. Ongoing climate measures and focus on energy mix, energy security and energy addition, continue to support a gradual transition from oil and gas to renewable energy and the decarbonisation of the global fleet. With a broad range of operations, infrastructure, and initiatives across offshore and other maritime activities, Wilhelmsen is well positioned to capitalise on these shifts in energy and technology. Outlook for Strategic Holdings and Investments Wilhelmsen holds large strategic shareholdings in Wallenius Wilhelmsen ASA and in Hyundai Glovis Co., Ltd. These shareholdings enable the group to continue providing and developing world leading logistics services to the global automotive and RoRo industries. The Strategic Holdings and Investments segment continues to deliver solid underlying performance and the contribution is expected to remain robust for the remainder of the year. However, the duration and impact of the ongoing Middle East conflict remain uncertain. In addition, trade- related measures, including tariffs and the temporarily suspended port fees, global trade imbalances and continued car carrier fleet growth create a more challenging environment for the segment companies. This may affect future contributions. Long term, Wallenius Wilhelmsen ASA and Hyundai Glovis have the size, global reach, human and physical assets, financial capacity and customer base to succeed in a continuously changing world. Outlook for the Wilhelmsen group Wilhelmsen retains a strong balance sheet, solid liquidity, and a balanced portfolio of leading maritime operations and investments. However, considerable uncertainty persists, specifically regarding geopolitical tension, the ongoing conflict in the Middle East, and an uncertain global trade environment, potentially impacting future performance and cash inflow. Although the above factors impact future outlook, the group retains its capacity to support, grow, and expand its business portfolio, and to deliver yearly dividends in line with the dividend policy. Lysaker, 4 November 2026 The board of directors of Wilh. Wilhelmsen Holding ASA Forward-looking statements presented in this report are based on various assumptions. These assumptions were reasonable when made, but as assumptions are inherently subject to uncertainties and contingencies which are difficult or impossible to predict, Wilhelmsen cannot give assurances that expectations regarding the outlook will be achieved or accomplished. Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 7
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Consolidated income statement USD mill Note Q3 2026 Q3 2025 YTD 2026 YTD 2025 Full year 2025 Operating revenue 326 311 955 924 1 234 Other gain/(loss) 5 (1) (3) (3) Total income 327 310 954 921 1 231 Operating expenses Cost of goods and change in inventory (101) (103) (297) (320) (421) Employee benefits (123) (117) (357) (339) (456) Other expenses (41) (48) (127) (127) (174) Operating profit before depreciation and amortisation (EBITDA) 61 42 174 135 180 Depreciation, amortisation and impairment 7/8 (25) (22) (65) (56) (75) Operating profit (EBIT) 37 19 109 79 106 Share of profit from joint ventures and associates 4 122 133 318 461 571 Financial items Change in fair value financial assets 10 (5) (3) (4) 8 Other financial income/(expenses) 11 14 2 19 29 34 Net financial items 9 (1) 20 25 43 Profit before tax 167 151 447 565 719 Tax income/(expense) 6 (12) (3) (32) (24) (48) Profit for the period 155 147 415 542 671 Attributable to: Equity holders of the company 154 141 412 523 652 Non-controlling interests 1 6 4 18 18 Basic/diluted earnings per share (USD) 9 3.70 3.37 9.87 12.44 15.52 Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 8
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Consolidated comprehensive income USD mill Q3 2026 Q3 2025 YTD 2026 YTD 2025 Full year 2025 Profit for the period 155 147 415 542 671 Items that may be reclassified to the income statement Cash flow hedges (net after tax) 1 1 (1) (1) Comprehensive income from joint ventures and associates 2 7 (1) (9) 4 Currency translation differences 152 (25) 106 208 165 Items that will not be reclassified to the income statement Remeasurement pension liabilities, net of tax 1 Other comprehensive income, net of tax 154 (17) 106 198 169 Total comprehensive income for the period 309 131 521 740 840 Total comprehensive income attributable to: Equity holders of the company 307 129 517 715 820 Non-controlling interests 2 2 4 25 19 Total comprehensive income for the period 309 131 521 740 840 Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 9
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Consolidated balance sheet USD mill Note 30.09.2026 30.09.2025 31.12.2025 ASSETS Deferred tax assets 6 24 42 39 Goodwill 7 101 96 95 Other intangible assets 7 43 32 34 Properties and other tangible assets 7 715 647 662 Right-of-use assets 8 137 142 139 Investments in joint ventures and associates 4 2 383 2 172 2 274 Non-current financial investments 10 55 118 129 Other non-current assets 31 22 28 Non-current assets 3 489 3 271 3 400 Inventories 145 131 129 Current financial investments 14 410 310 257 Other current assets 618 428 411 Cash and cash equivalents 370 303 214 Current assets 1 543 1 171 1 011 Total assets 5 031 4 442 4 411 USD mill Note 30.09.2026 30.09.2025 31.12.2025 EQUITY AND LIABILITIES Paid-in capital 9 115 115 115 Own shares 9 (2) (1) (1) Retained earnings 9/12 3 701 3 082 3 147 Attributable to equity holders of the parent 3 815 3 197 3 262 Non-controlling interests 15 139 14 Total equity 3 829 3 336 3 275 Pension liabilities 23 23 22 Deferred tax liabilities 6 9 10 10 Non-current interest-bearing debt 13 237 263 253 Non-current lease liabilities 8/13 114 119 114 Other non-current liabilities 8 8 8 Non-current liabilities 392 425 408 Current income tax 5 3 18 Public duties payable 8 13 16 Current interest-bearing debt 13 48 18 27 Current lease liabilities 8/13 29 32 32 Other current liabilities 720 616 635 Current liabilities 810 682 728 Total equity and liabilities 5 031 4 442 4 411 Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 10
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Consolidated cash flow statement USD mill Note Q3 2026 Q3 2025 YTD 2026 YTD 2025 Full year 2025 Cash flow from operating activities Profit before tax 167 151 447 565 719 Share of (profit)/loss from joint ventures and associates 4 (122) (133) (318) (461) (571) Changes in fair value financial assets 10 5 3 4 (8) Financial (income)/expenses 11 (14) (2) (19) (29) (34) Depreciation, amortisation and impairment 7/8 25 22 65 56 75 Other (gain)/loss 5 1 3 3 Change in inventories (9) (3) (14) (2) (1) Change in other assets and liabilities (20) 19 (67) 12 60 Tax paid (company income tax, withholding tax) (14) (4) (30) (18) (26) Net cash flow from operating activities 19 54 64 131 217 Cash flow from investing activities Dividend received from joint ventures and associates 98 177 436 409 411 Proceeds from sale of fixed assets 7 1 2 1 Investments in tangible and intangible assets 7 (14) (20) (68) (44) (75) Investments in subsidiaries, joint ventures and associates (5) 5 (6) (41) (53) Loan repayments from joint ventures, associates and others 1 1 Loan granted to joint ventures and associates (1) (11) Dividend received / proceeds from sale of financial investments 110 (2) 121 21 148 Purchase of current financial investments (74) (86) (220) (199) (264) Interest received 3 2 7 5 7 Net cash flow from investing activities 118 76 271 149 166 USD mill Note Q3 2026 Q3 2025 YTD 2026 YTD 2025 Full year 2025 Cash flow from financing activities Net proceeds from issue of debt after debt expenses 2 8 45 68 Repayment of debt (5) (22) (30) (88) (122) Repayment of lease liabilities (11) (10) (34) (29) (39) Interest paid including interest derivatives (4) (4) (12) (14) (19) Cash from/ (to) financial derivatives 1 9 12 8 Purchase of non-controlling interest (2) (127) (Investment)/disposal own shares 2 (36) (35) (34) Dividend to shareholders 2 (91) (53) (83) Net cash flow from financing activities (16) (36) (187) (161) (348) Net change in cash and cash equivalents 121 95 148 119 35 Cash and cash equivalents at the beginning of the period 249 209 214 155 155 Effect of exchange rate changes on cash 1 8 28 24 Cash and cash equivalents at the end of the period 370 303 370 303 214 Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 11
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Statement of changes in equity USD mill Share capital Own shares Retained earnings Total Non-controlling interests Total equity Balance at 31.12.2025 115 (1) 3 147 3 262 14 3 275 Profit for the period 412 412 4 415 Other comprehensive income 105 105 106 Change in put option in associate* 164 164 164 Reclass and change in ownership NCI (1) (1) (1) (2) (Purchase)/sale of own shares (1) (35) (36) (36) Paid dividend to shareholders (91) (91) (2) (93) Balance at 30.09.2026 115 (2) 3 701 3 815 15 3 829 Balance at 31.12.2024 118 (3) 2 465 2 580 115 2 695 Increase share capital Profit for the period 523 523 18 542 Other comprehensive income 192 192 6 198 Change in put option in associate* (17) (17) (17) Reclass and change in ownership NCI (2) (2) 2 (1) (Purchase)/sale of own shares (2) (35) (36) (36) Cancellation of own shares (2) 4 2 2 Paid dividend to shareholders (45) (45) (3) (48) Balance at 30.09.2025 115 (1) 3 082 3 197 139 3 336 Balance at 31.12.2024 118 (3) 2 465 2 580 115 2 695 Profit for the period 652 652 18 671 Other comprehensive income 168 168 1 169 Change in put option in associate* (23) (23) (23) Reclass and change in ownership NCI (2) (2) (118) (120) (Purchase)/sale of own shares (2) (34) (36) (36) Cancellation of own shares (2) 4 2 2 Paid dividend to shareholders (79) (79) (3) (82) Balance at 31.12.2025 115 (1) 3 147 3 262 14 3 275 *Put option in Wallenius Wilhelmsen ASA Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 12
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Notes Note 1 Accounting policies General information This consolidated interim financial report has been prepared in accordance with International Accounting Standards (IAS 34), "interim financial reporting". The consolidated interim financial reporting should be read in conjunction with the annual financial statements for the year end 31 December 2025 for Wilh.Wilhelmsen Holding ASA group, which have been prepared in accordance with IFRS® endorsed by the EU. Basic policies The accounting policies implemented are consistent with those of the annual financial statements for Wilh. Wilhelmsen Holding ASA group for the year end 31 December 2025. Roundings As a result of rounding adjustments, the figures in one or more columns or rows may not add up to the total of that column or row. Note 2 Significant acquisitions and disposals 2026 Q1 No material acquisitions or disposals. Q2 In the New Energy Segment, Edda Wind completed the sale of its fleet of SOV/CSOVs (including newbuildings). The transaction generated a net positive accounting effect of USD 25 million in the quarter. Q3 No material acquisitions or disposals. 2025 Q1 No material acquisitions or disposals. Q2 No material acquisitions or disposals. Q3 No material acquisitions or disposals. Q4 Increased shareholding in Treasure ASA from 84.2% to 100%. Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 13
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Note 3.1 Segment reporting – income statement quarterly figures USD mill Maritime Services New Energy Strategic Holdings and Investments Eliminations Total WWH Group Q3 2026 Q3 2025 Q3 2026 Q3 2025 Q3 2026 Q3 2025 Q3 2026 Q3 2025 Q3 2026 Q3 2025 Operating revenue 238 223 87 87 4 4 (3) (3) 326 311 Other gain/(loss) (1) (1) Total income 238 222 88 87 4 4 (3) (3) 327 310 Operating expenses Cost of goods and change in inventory (89) (85) (12) (18) (101) (103) Employee benefits (81) (78) (38) (36) (4) (4) (123) (117) Other expenses (28) (35) (14) (13) (2) (2) 3 2 (41) (48) Operating profit before depreciation and amortisation (EBITDA) 40 24 24 21 (2) (3) 61 42 Depreciation, amortisation and impairment (12) (12) (11) (9) (1) (1) (25) (22) Operating profit (EBIT) 28 11 13 12 (4) (4) 37 19 Share of profit/(loss) from joint ventures and associates (4) 2 4 123 128 122 133 Financial items Change in fair value financial assets (1) (5) (3) (5) (3) Other financial income/(expenses) 6 (3) (9) (4) 17 9 14 2 Net financial items 6 (4) (9) (4) 11 6 9 (1) Profit before tax 30 8 6 12 131 131 167 151 Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 14
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Note 3.2 Segment reporting – income statement YTD figures USD mill Maritime Services New Energy Strategic Holdings and Investments Eliminations Total WWH Group YTD 2026 YTD 2025 Full year 2025 YTD 2026 YTD 2025 Full year 2025 YTD 2026 YTD 2025 Full year 2025 YTD 2026 YTD 2025 Full year 2025 YTD 2026 YTD 2025 Full year 2025 Operating revenue 690 653 873 262 269 358 12 12 15 (10) (9) (12) 955 924 1234 Other gain/(loss) (1) (4) (3) (3) (3) Total income 689 649 869 263 269 358 12 12 15 (10) (9) (12) 954 921 1231 Operating expenses Cost of goods and change in inventory (258) (247) (329) (38) (72) (92) (1) (1) (2) (297) (320) (421) Employee benefits (234) (227) (305) (112) (103) (137) (11) (9) (14) (357) (339) (456) Other expenses (86) (90) (123) (42) (37) (51) (6) (7) (9) 8 7 9 (127) (127) (174) Operating profit before depreciation and amortisation (EBITDA) 111 84 112 70 57 79 (6) (5) (10) (1) (1) (2) 174 135 180 Depreciation, amortisation and impairment (29) (28) (36) (32) (25) (35) (4) (4) (5) 1 1 1 (65) (56) (75) Operating profit (EBIT) 82 56 77 38 32 44 (10) (9) (15) 109 79 106 Share of profit/(loss) from joint ventures and associates (2) 2 2 36 18 27 284 442 541 318 461 571 Financial items Change in fair value financial assets 1 1 (7) (7) 2 14 (4) 8 Other financial income/(expenses) 3 33 25 (15) (16) (16) 39 18 33 (8) (7) (7) 19 29 34 Net financial items 2 34 26 (15) (22) (23) 40 20 47 (8) (7) (7) 20 25 43 Profit before tax 82 92 105 59 27 48 314 453 573 (8) (7) (7) 447 565 719 Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 15
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Note 3.3 Segment reporting – balance sheet USD mill Maritime Services New Energy Strategic Holdings and Investments Eliminations Total WWH Group 30.09.2026 30.09.2025 30.09.2026 30.09.2025 30.09.2026 30.09.2025 30.09.2026 30.09.2025 30.09.2026 30.09.2025 ASSETS Deferred tax assets 17 31 4 4 4 7 24 42 Goodwill 100 96 1 101 96 Other intangible assets 38 28 4 3 1 1 43 32 Properties and other tangible assets 175 173 537 469 4 4 715 647 Right-of-use assets 40 36 79 84 24 29 (7) (8) 137 142 Investments in joint ventures and associates 31 34 228 315 2 125 1 823 2 383 2 172 Non-current financial investments 18 17 2 5 35 96 55 118 Other non-current assets 7 6 27 18 (3) (2) 31 22 Non-current assets 425 422 881 899 2 193 1 960 (9) (10) 3 489 3 271 Inventories 145 131 145 131 Current financial investments 410 310 410 310 Other current assets 445 338 85 83 110 128 (22) (121) 618 428 Cash and cash equivalents 148 164 147 17 227 134 (152) (11) 370 303 Current assets 738 632 232 99 747 572 (174) (132) 1 543 1 171 Total assets 1 163 1 054 1 112 998 2 939 2 532 (184) (142) 5 031 4 442 EQUITY AND LIABILITIES Shareholders' equity 423 271 638 574 2 753 2 351 1 1 3 815 3 197 Non-controlling interests 6 5 9 9 125 15 139 Total equity 429 276 646 582 2 753 2 476 1 1 3 829 3 336 Pension liabilities 15 15 2 1 6 7 23 23 Deferred tax liabilities 9 10 9 10 Non-current interest-bearing debt 39 244 230 (3) (3) (3) (2) 237 263 Non-current lease liabilities 31 28 68 72 21 26 (6) (7) 114 119 Other non-current liabilities 5 5 2 3 8 8 Non-current liabilities 61 98 315 306 24 30 (9) (9) 392 425 Current income tax (1) (1) 5 3 5 3 Public duties payable 7 8 1 4 1 8 13 Current interest-bearing debt 21 120 66 22 134 7 (173) (131) 48 18 Current lease liabilities 12 11 14 18 5 5 (1) (1) 29 32 Other current liabilities 634 542 70 65 18 10 (1) (1) 720 616 Current liabilities 673 680 151 110 162 26 (176) (133) 810 682 Total equity and liabilities 1 163 1 054 1 112 998 2 939 2 532 (184) (142) 5 031 4 442 Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 16
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Note 3.4 Segment reporting – cash flow USD mill Maritime Services New Energy Strategic Holdings and Investments Q3 2026 Q3 2025 Q3 2026 Q3 2025 Q3 2026 Q3 2025 Cash flow from operating activities Profit before tax 30 8 6 12 131 131 Share of (profit)/loss from joint ventures and associates 4 (2) (4) (123) (128) Changes in fair value financial assets 1 5 3 Financial (income)/expenses (6) 3 9 4 (17) (9) Depreciation, amortisation and impairment 12 12 11 9 1 1 Other (gain)/loss 1 Change in other assets and liabilities (20) 9 (11) (10) (7) 14 Net cash flow from operating activities 20 33 12 10 (9) 11 Cash flow from investing activities Dividend received from joint ventures and associates 1 1 98 176 Net sale/(investments) in tangible and intangible assets (4) (9) (9) (10) Net sale/(investments) and repayment/(granted loan) to entities (5) (2) Net changes in other investments/financial items 1 1 38 (84) Net cash flow from investing activities (9) (7) (9) (11) 135 91 Cash flow from financing activities Net change of debt incl net change of debt between segments (26) (19) (7) (112) 14 11 Net change in other financial items (1) (3) (3) (5) (1) Dividend to shareholders and dividend between segments 124 (122) Net cash flow from financing activities (27) (23) (11) 7 13 (111) Net change in cash and cash equivalents (15) 3 (7) 7 140 (8) Cash and cash equivalents at the beg. of the period 162 160 149 10 88 141 Effect of exchange rate changes on cash 2 1 5 (1) 1 Cash and cash equivalents at the end of the period 148 164 147 17 227 134 Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 17
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Note 3.5 Segment reporting – breakdown New Energy income statement NOK mill USD mill NorSea Group NorSea Group in New Energy Other New Energy New Energy Quarterly figures Q3 2026 Property Logistics Other and eliminations Total NorSea Group Total Total income 173 417 234 824 87 1 88 Operating expenses (40) (324) (221) (584) (62) (2) (64) EBITDA 133 94 12 239 25 (1) 24 Depreciation, amortisation and impairment (59) (18) (25) (102) (11) (11) EBIT 74 76 (13) 137 14 (1) 13 Share of profit/(loss) from JVs and associates 1 25 26 3 (1) 2 Net financial income/(expenses) (6) 1 (44) (50) (5) (4) (9) Profit/(loss) before tax 69 77 (32) 114 12 (6) 6 NOK mill USD mill NorSea Group NorSea Group in New Energy Other New Energy New Energy Quarterly figures Q3 2025 Property Logistics Other and eliminations Total NorSea Group Total Total income 170 488 215 873 87 1 87 Operating expenses (57) (388) (202) (646) (64) (2) (66) EBITDA 114 100 13 227 22 (2) 21 Depreciation, amortisation and impairment (49) (23) (21) (93) (9) (9) EBIT 65 77 (8) 134 13 (1) 12 Share of profit/(loss) from JVs and associates 2 21 22 2 2 4 Net financial income/(expenses) (1) 2 (42) (41) (4) (4) Profit/(loss) before tax 65 79 (29) 115 11 12 Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 18
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Cont. Note 3.5 Segment reporting – breakdown New Energy income statement NOK mill USD mill NorSea Group NorSea Group in New Energy Other New Energy New Energy Year-to-date figures Q3 2026 Property Logistics Other and eliminations Total NorSea Group Total Total income 524 1 249 708 2 481 260 3 263 Operating expenses (133) (952) (693) (1 779) (186) (6) (193) EBITDA 390 297 15 702 74 (4) 70 Depreciation, amortisation and impairment (174) (54) (72) (300) (31) (1) (32) EBIT 217 243 (57) 402 42 (5) 38 Share of profit/(loss) from JVs and associates 4 115 119 13 24 36 Net financial income/(expenses) (18) (1) (139) (158) (17) 2 (15) Profit/(loss) before tax 202 241 (81) 362 38 21 59 NOK mill USD mill NorSea Group NorSea Group in New Energy Other New Energy New Energy Year-to-date figures Q3 2025 Property Logistics Other and eliminations Total NorSea Group Total Total income 511 1 490 786 2 787 267 2 269 Operating expenses (170) (1 203) (780) (2 154) (206) (6) (212) EBITDA 341 287 6 633 61 (4) 57 Depreciation, amortisation and impairment (124) (63) (60) (247) (24) (1) (25) EBIT 217 224 (55) 386 37 (5) 32 Share of profit/(loss) from JVs and associates 3 55 58 6 12 18 Change in fair value financial assets (7) (7) Net financial income/(expenses) (8) 7 (152) (153) (15) (1) (16) Profit/(loss) before tax 212 231 (152) 292 28 (1) 27 Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 19
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Cont. Note 3.5 Segment reporting – breakdown New Energy income statement NOK mill USD mill NorSea Group NorSea Group in New Energy Other New Energy New Energy Full year figures 2025 Property Logistics Other and eliminations Total NorSea Group Total Total income 689 1 908 1 080 3 677 355 4 358 Operating expenses (226) (1 535) (1 067) (2 828) (273) (7) (279) EBITDA 462 373 13 849 82 (3) 79 Depreciation, amortisation and impairment (179) (88) (84) (351) (34) (1) (35) EBIT 283 285 (71) 498 48 (4) 44 Share of profit/(loss) from JVs and associates 4 3 75 81 8 19 27 Change in fair value financial assets (7) (7) Net financial income/(expenses) 48 3 (221) (170) (16) (16) Profit/(loss) before tax 335 291 (217) 409 40 9 48 Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 20
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Note 3.6 Segment reporting – breakdown New Energy selected balance sheet items NOK mill USD mill NorSea Group NorSea Group in New Energy New Energy 30.09.2026 Properties and other tangible assets 5 211 544 537 Right-of-use assets 760 79 79 Investments in joint ventures and associates 1 205 126 228 Other non-current assets 302 34 37 Total non-current assets 7 478 782 881 Current assets excluding cash 1 007 105 85 Non-current interest-bearing debt 2 311 244 244 Current interest-bearing debt 1 153 120 66 Non-current lease liabilities 647 68 68 Current lease liabilities 138 14 14 Total interest-bearing debt 4 248 446 391 Cash and cash equivalents 102 11 147 Net interest-bearing debt 4 147 435 244 30.09.2025 Properties and other tangible assets 4 745 476 469 Right-of-use assets 838 84 84 Investments in joint ventures and associates 1 014 101 315 Other non-current assets 253 28 31 Total non-current assets 6 850 689 899 Current assets excluding cash 818 82 83 Non-current interest-bearing debt 2 265 230 230 Current interest-bearing debt 707 71 22 Non-current lease liabilities 718 72 72 Current lease liabilities 181 18 18 Total interest-bearing debt 3 871 391 342 Cash and cash equivalents 91 8 17 Net interest-bearing debt 3 780 383 325 NOK mill USD mill NorSea Group NorSea Group in New Energy New Energy 31.12.2025 Properties and other tangible assets 4 940 490 483 Right-of-use assets 851 84 84 Investments in joint ventures and associates 1 123 111 326 Other non-current assets 235 26 31 Total non-current assets 7 148 711 925 Current assets excluding cash 684 68 69 Non-current interest-bearing debt 2 443 245 245 Current interest-bearing debt 816 81 31 Non-current lease liabilities 698 69 69 Current lease liabilities 181 18 18 Total interest-bearing debt 4 138 413 363 Cash and cash equivalents 109 9 34 Net interest-bearing debt 4 029 403 329 Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 21
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Note 4 Investments in joint ventures and associates USD mill 30.09.2026 30.09.2025 Ownership Book value Book value Strategic Holdings and Investments: Wallenius Wilhelmsen ASA 37.9 % 1 181 1 029 Hyundai Glovis Co., Ltd. 11.0 % 934 785 Other associates 20-50 % 10 10 Maritime Services: Wilhelmsen Ahrenkiel Ship Management 50.0 % 8 14 Other associates 20-50 % 22 20 New Energy: Joint ventures Coast Center Base 50.0 % 103 91 Other joint ventures 50.0 % 2 2 Associates Edda Wind AS 37.8 % 50 157 Reach Subsea ASA 29.6 % 50 52 Other associates 33-49 % 23 14 Total investment in joint ventures and associates 2 383 2 172 USD mill Q3 2026 Q3 2025 Share of profit/(loss) from joint ventures and associates Wallenius Wilhelmsen ASA 72 97 Hyundai Glovis Co., Ltd. 51 31 Joint ventures and associates in New Energy * 2 4 Joint ventures and associates in Maritime Services ** (4) Share of profit/(loss) from joint ventures and associates 122 133 * Share of profit/(loss) from the associated company Reach Subsea ASA is based on financial figures Q2 2026 plus estimate for Q3. ** Share of profit/(loss) in Maritime Services affected by goodwill impairment. Note 5 Other gain/(loss) No material gain/(loss) from sale of assets during Q3 2026. Note 6 Tax The effective tax rate for the group will change from period to period, dependent on the group gains and losses from investments within the exemption method. Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 22
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Note 7 Intangible and tangible assets USD mill Properties Other tangible assets Intangible assets Total Cost at 01.01.2026 780 262 216 1 257 Acquisition 46 13 12 71 Business combinations 6 6 Reclass/disposal (3) (26) (28) Currency translation differences 31 4 7 42 Cost at 30.09.2026 854 278 217 1 349 Accumulated depreciation and impairment at 01.01.2026 (275) (104) (87) (466) Depreciation/amortisation (15) (10) (5) (30) Reclass/disposal 2 1 26 28 Impairment (4) (3) (7) Currency translation differences (9) (2) (4) (14) Accumulated depreciation and impairment at 30.09.2026 (297) (119) (73) (490) Carrying value at 30.09.2026 556 159 144 859 Cost at 01.01.2025 662 239 202 1 103 Acquisition 25 13 7 44 Business combinations 2 2 Reclass/disposal (3) (13) (24) (40) Currency translation differences 88 20 29 137 Cost at 30.09.2025 773 259 214 1 246 Accumulated depreciation and impairment at 01.01.2025 (239) (91) (77) (407) Depreciation/amortisation (13) (9) (6) (27) Reclass/disposal 2 6 18 26 Impairment (8) (8) Currency translation differences (32) (10) (13) (55) Accumulated depreciation and impairment at 30.09.2025 (281) (104) (86) (471) Carrying value at 30.09.2025 491 155 128 775 USD mill Properties Other tangible assets Intangible assets Total Cost at 01.01.2025 662 239 202 1 103 Acquisition 45 20 11 76 Business combinations 4 4 Reclass/disposal (12) (17) (24) (53) Currency translation differences 81 20 27 127 Cost at 31.12.2025 780 262 216 1 257 Accumulated depreciation and impairment at 01.01.2025 (239) (91) (77) (407) Depreciation/amortisation (17) (12) (8) (37) Reclass/disposal 10 8 19 37 Impairment* (8) (8) Currency translation differences (29) (9) (13) (51) Accumulated depreciation and impairment at 31.12.2025 (275) (104) (87) (466) Carrying value at 31.12.2025 505 157 129 791 *See the annual financial statements for the year end 31 December 2025 for Wilh.Wilhelmsen Holding ASA group. Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 23
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Note 8 Right-of-use assets and lease liabilities The group leases several assets such as buildings, property, machinery, equipment and vehicles. USD mill Properties and land Machinery, equipment and vehicles Total Cost at 01.01.2026 203 34 237 Additions including remeasurements 17 7 23 Reclass/disposal (3) (3) (7) Change in estimates (1) (1) Currency translation differences 6 1 7 Cost at 30.09.2026 221 38 260 Accumulated depreciation and impairment at 01.01.2026 (87) (10) (98) Depreciation (23) (5) (27) Reclass/disposal 2 2 5 Currency translation differences (3) (3) Accumulated depreciation and impairment at 30.09.2026 (110) (13) (123) Carrying value at 30.09.2026 111 25 137 USD mill Properties and land Machinery, equipment and vehicles Total Cost at 01.01.2025 167 28 194 Additions including remeasurements 21 10 31 Reclass/disposal (8) (6) (14) Change in estimates (1) (1) Currency translation differences 19 4 23 Cost at 30.09.2025 199 35 234 Accumulated depreciation and impairment at 01.01.2025 (65) (9) (74) Depreciation (17) (4) (21) Reclass/disposal 7 4 11 Change in estimates 1 1 Currency translation differences (8) (1) (9) Accumulated depreciation and impairment at 30.09.2025 (82) (10) (92) Carrying value at 30.09.2025 117 25 142 USD mill Properties and land Machinery, equipment and vehicles Total Cost at 01.01.2025 167 28 194 Additions including remeasurements 28 11 38 Reclass/disposal (9) (8) (17) Change in estimates (1) (1) Currency translation differences 18 4 22 Cost at 31.12.2025 203 34 237 Accumulated depreciation and impairment at 01.01.2025 (65) (9) (74) Depreciation (24) (6) (30) Reclass/disposal 8 5 13 Change in estimates 1 1 Currency translation differences (7) (1) (8) Accumulated depreciation and impairment at 31.12.2025 (87) (10) (98) Carrying value at 31.12.2025 116 24 139 Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 24
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Note 9 Shares and share capital The number of shares is as follows with a nominal value of NOK 20: 30.09.2026 30.09.2025 31.12.2025 Shares A-shares 32 676 367 32 676 367 32 676 367 B-shares 9 673 633 9 673 633 9 673 633 Total shares 42 350 000 42 350 000 42 350 000 Own shares A-shares 663 078 229 841 229 841 B-shares 190 025 164 309 164 309 Total own shares 853 103 394 150 394 150 Earnings per share taking into consideration the weighted average number of outstanding shares in the period. Basic earnings per share is calculated by dividing profit for the period after non-controlling interests, by average number of total outstanding shares. Earnings per share is calculated based on 41 496 897 outstanding shares per Q3 2026. Corresponding per Q3 2025 was 41 955 850 shares. In September, the company sold 11 964 own A-shares to employees as part of the employee share program at a price of NOK 824.61 per share. Note 10 Non-current financial assets to fair value USD mill 30.09.2026 30.09.2025 31.12.2025 Non-current financial assets to fair value At 01.01 129 105 105 Acquisition 6 4 4 Reclass (2) Sale during the year* (87) (1) Currency translation adjustment through other comprehensive income 7 13 14 Change in fair value through income statement (4) 8 Total non-current financial assets to fair value 55 118 129 Non-current financial assets to fair value are held in subsidiaries with different functional currencies and thereby creating translation adjustment. *Primarily related to the sale of the shares in Qube Holding Limited (Qube) as announced in the second quarter and completed in the third quarter. Note 11 Other financial income/(expenses) USD mill Q3 2026 Q3 2025 YTD 2026 YTD 2025 Investment management 7 6 20 12 Interest income 3 2 7 5 Other financial income 11 2 13 5 Interest expenses (6) (6) (18) (19) Other financial expenses (1) (1) (5) (3) Net financial currency (6) (1) (3) (18) Net financial currency derivatives 7 (1) 6 47 Other financial income/(expenses) 14 2 19 29 Note 12 Paid dividend The dividend for fiscal year 2025 of NOK 20.00 per share was approved by the Annual General Meeting on 30 April 2026 and paid to the shareholders in May 2026. A second dividend of NOK 8.50 per share will be paid on 19 November. The dividend for fiscal year 2024 of NOK 20.00 per share was paid in May 2025 (NOK 12.00 per share) and in November 2025 (NOK 8.00 per share). Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 25
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Note 13 Interest-bearing debt USD mill 30.09.2026 30.09.2025 31.12.2025 Non-current interest-bearing debt 237 263 253 Current interest-bearing debt 48 18 27 Non-current lease liabilities 114 119 114 Current lease liabilities 29 32 32 Total interest-bearing debt 428 432 427 Cash and cash equivalents 370 303 214 Current financial investments 410 310 257 Net interest-bearing debt (352) (181) (45) Loan agreements entered into by group companies contain financial covenants related to leverage and equity ratio. The group was in compliance with these covenants at 30 September 2026 (analogous for 30 September 2025). USD mill 30.09.2026 30.09.2025 31.12.2025 Interest-bearing debt Bankloan 285 281 281 Lease liabilities 143 151 146 Total interest-bearing debt 428 432 427 Repayment schedule for interest-bearing debt Due in 1 year 77 50 59 Due in 2 years 42 76 255 Due in 3 years 38 209 22 Due in 4 years 202 17 19 Due in 5 years and later 68 80 71 Total interest-bearing debt 428 432 427 Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 26
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Note 14 Financial level USD mill Level 1 Level 2 Level 3 Total 2026 Financial assets at fair value Equities 175 175 Bonds 234 234 Financial derivatives 16 16 Financial assets at fair value 13 42 55 Total financial assets at 30.09 409 29 42 480 Financial liabilities at fair value Financial derivatives (1) (1) Total financial liabilities at 30.09 (1) (1) 2025 Financial assets at fair value Equities 110 110 Bonds 200 200 Financial derivatives 21 21 Financial assets at fair value 68 9 41 118 Total financial assets at 30.09 378 30 41 449 Financial liabilities at fair value Financial derivatives (2) (2) Total financial liabilities at 30.09 (2) (2) The fair value of financial instruments traded in active markets is based on quoted market prices at the balance sheet date. A market is regarded as active if quoted prices are readily and regularly available from an exchange, dealer, broker, industry group, pricing service, or regulatory agency, and those prices represent actual and regularly occurring market transactions on an arm's length basis. The quoted market price used for financial assets held by the group is the current close price. These instruments are included in level 1. Instruments included in level 1 at the end of September 2026 are liquid investment grade bonds and listed equities (analogous for September 2025). The fair value of financial instruments are not traded in an active market (over-the-counter contracts) are based on third party quotes (Mark-to-Market). These quotes use observable market rates for price discovery. The different techniques typically applied by financial counterparties (banks) are described in the annual financial statements for Wilh. Wilhelmsen Holding ASA group for the year end 31 December 2025. These instruments, FX and IR derivatives, are included in level 2. If one or more of the significant inputs is not based on observable market data, the derivatives is in level 3. Primarily illiquid investment funds and structured notes are included in level 3. Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 27
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Note 15 Related party transactions WWH delivers services to the Wallenius Wilhelmsen group. These include primarily in-house services such as canteen, post, switchboard and rent of office facilities. Generally, Shared Services are priced using a cost plus 5% margin calculation, in accordance with the principles set out in the OECD Transfer Pricing Guidelines and are delivered according to agreements that are renewed annually. In addition group companies have several transactions with associates. The contracts governing such transactions are based on commercial market terms. Note 16 Contingencies The size and global activities of the group dictate that companies in the group will be involved from time to time in disputes and legal actions. The group is not aware of any financial risk associated with disputes and legal actions which are not largely covered through insurance arrangements. Nevertheless, any such disputes/actions which might exist are of such a nature that they will not significantly affect the group’s financial position. Note 17 Events after the balance sheet date Subsequent to quarter-end, Wallenius Wilhelmsen completed a USD 300 million private placement in October to fund its newbuilding program. Wilhelmsen participated in the offering and now holds a 37.04% ownership interest. No other material events occurred between the balance sheet date and the date when the accounts were presented providing new information about the conditions prevailing on the balance sheet date. Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 28
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Note 18 Alternative performance measures This section describes non-GAAP financial alternative performance measures (APM) that may be used in the quarterly and annual reports and related presentations. The following measures are not defined nor specified in the applicable financial reporting framework of IFRS. They may be considered as non-GAAP financial measures that may include or exclude amounts that are calculated and presented according to IFRS. These APMs are intended to enhance comparability of the income statements, balance sheets and cash flows from period to period and it is the company’s experience that these are frequently used by investors, analysts and other parties. Internally, these APMs are used by the management to measure performance on a regular basis. The APMs should not be considered as a substitute for measures of performance in accordance with IFRS. EBITDA is defined as Total income (Operating revenue and gain/(loss) on sale of assets) adjusted for Operating expenses. EBITDA is used as an additional measure of operational profitability, excluding the impact from financial items, taxes, depreciation and amortization. EBITDA adjusted is defined as EBITDA excluding certain income and/or cost items which are not regarded as part of the underlying operational performance for the period. The company does not report EBITDA adjusted on a regular basis, but may use it on a case by case basis to better explain operational performance. EBITDA margin is defined as EBITDA as a per cent of Total income. EBITDA margin adjusted is defined as EBITDA adjusted as a per cent of Total income, with Total income also adjusted for the same income elements as those which have been adjusted for in EBITDA adjusted. EBIT is defined as Total income (Operating revenue and gain/(loss) on sale of assets) less Operating expenses, Other gain/loss and depreciation and amortization. EBIT is used as a measure of operational profitability excluding the effects of how the operations were financed, taxed and excluding foreign exchange gains & losses. EBIT adjusted, EBIT margin and EBIT margin adjusted will, if used, be prepared in the same manner as described under EBITDA. Net interest-bearing debt (NIBD) is defined as total interest bearing debt (Non-current interest-bearing debt, Non-current lease liabilities, Current interest- bearing debt and Current lease liabilities) less Cash and cash equivalents and Current financial investments. Equity ratio is defined as Total equity as a percent of Total assets. Wilh. Wilhelmsen Holding group Q3 2026 - unaudited 29