Interim report
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INTERIM REPORT – Q3 2026 #01 ASKER HEALTHCARE GROUP CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKERFINANCIAL OVERVIEW START Key ratios 1 July–30 September 1 January–30 September Rolling 12 months Full-year Amounts in SEKm 2026 2025 Change 2026 2025 Change 2025/2026 2025 Net sales 4,756 4,129 15% 13,963 12,111 15% 18,639 16,787 Adjusted EBITA* 473 383 24% 1,385 1,125 23% 1,855 1,594 Adjusted EBITA margin, %* 9.9% 9.3% 0.6 p.p. 9.9% 9.3% 0.6 p.p. 10.0% 9.5% EBITA* 445 348 28% 1,349 983 37% 1,756 1,390 EBITA margin, %* 9.4% 8.4% 1.0 p.p. 9.7% 8.1% 1.6 p.p. 9.4% 8.3% EBIT 312 242 29% 971 728 33% 1,252 1,009 Profit for the period 219 146 50% 641 374 71% 777 510 Earnings per share before and after dilution (SEK) 0.56 0.37 51% 1.63 0.91 79% 1.97 1.25 Earnings per share before and after dilution (SEK), adjusted* 0.56 0.37 51% 1.63 0.94 73% 1.97 1.28 Net debt/EBITDA** 2.33 2.22 0.11x 2.33 2.22 0.11x 2.33 2.26 Return on net working capital (EBITA/ NWC), %* 68.8% 66.5% 2.3 p.p. 68.8% 66.5% 2.3 p.p. 68.8% 67.0% Adjusted cash flow from operating activities* 364 439 –17% 1,113 760 46% 1,738 1,385 * Refer to Note 5 for the calculation of alternative performance measures and the definitions section for further information about these performance indicators. ** EBITDA rolling 12 months adjusted for leases and items affecting comparability. 1 July–30 September 2026 • Net sales amounted to SEK 4,756m (4,129), up 15%. • Adjusted EBITA amounted to SEK 473m (383), up 24%. • The adjusted EBITA margin was 9.9% (9.3). • EBIT amounted to SEK 312m (242), and profit for the quarter amounted to SEK 219m (146). • Earnings per share before and after dilution amounted to SEK 0.56 (0.37). • Return on net working capital (EBITA/NWC) amounted to 68.8% (66.5). • Adjusted cash flow from operating activities amounted to SEK 364m (439). 1 January–30 September 2026 • Net sales amounted to SEK 13,963m (12,111), up 15%. • Adjusted EBITA amounted to SEK 1,385m (1,125), up 23%. • The adjusted EBITA margin was 9.9% (9.3). • EBIT amounted to SEK 971m (728), and profit for the period amounted to SEK 641m (374). • Earnings per share before and after dilution amounted to SEK 1.63 (0.91). • Return on net working capital (EBITA/NWC) amounted to 68.8% (66.5). • Adjusted cash flow from operating activities amounted to SEK 1,113m (760). Strong adjusted EBITA growth of 24%, solid organic performance and robust underlying cash flow. The EBITA margin reached our target of at least 10% over a rolling 12 months for the first time, and we signed four new acquisitions. Interim Report January–September 2026 Q3
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INTERIM REPORT – Q3 2026 #02 ASKER HEALTHCARE GROUP START FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKER CEO’S COMMENTS FINANCIAL OVERVIEW products in stock from the third quarter of this year until the first quarter of next year, so as to ensure that we can always deliver to our customers. This additional security measure impacted EBITA for the quarter by SEK 16m and increased working capital by approxi- mately SEK 100m. Start-up is scheduled for the fourth quarter; we will then have the most modern and highly automated ware - house in our sector in Northern Europe. We have also future- proofed our growth capacity in the region by incorporating the expansion options of additional automation and space. Looking ahead with the same drive and quality Since we are presented with many opportunities, we must remain disciplined about what we choose to prioritise and what we pay. Areas of focus: • As the market leader in Europe, continuing to outperform market growth and strengthen our margins. Decentralisation remains the foundation, but is supplemented with increased collaboration among the companies in the areas of procure- ment, private label, logistics and IT as well as by an improved mix contribution from acquisitions. • Continue our acquisition strategy, based on a string of carefully selected acquisitions, to broaden and enhance our offering to the healthcare sector in Europe. • Another priority area for us is capitalising on opportunities as global manufacturers increasingly seek to leverage Asker’s position, scale, expertise, experience and presence in 19 countries to more effectively reach more customers all over Europe. We have come a long way since we entered Europe more than ten years ago. But we are far from finished. New opportunities for collaboration and acquisitions are emerging all the time. Our ambition remains firm – to drive progress in healthcare in Europe and generate healthy stable growth. I am confident that our organisation and our “twin engine” will keep delivering with the strength and quality of recent years. Johan Falk, CEO Strong growth and improved EBITA margin Long-term healthy growth We have the privilege of working in a stable and growing industry, and leveraging this foundation, we have maintained a high growth rate in Asker for many years. Trends in healthcare evolve slowly, but the progress Asker has made can be clearly seen when we look back over the period since our IPO nearly two years ago. For the full-year 2024, adjusted EBITA was SEK 1,362m. Now, calculated on a rolling 12 months basis, adjusted EBITA is SEK 1,855m, up 36%. At the same time, the adjusted EBITA margin increased from 9.1% to 10% and now meets our financial target. Earnings per share have risen from SEK 0.94 per share for the full-year 2024 to SEK 1.97 per share for the past 12 months. Underlying this trend is the hard work of the companies to grow their businesses, look after their customers and con- stantly identify improved and more efficient ways of working, combined with the economies of scale from being part of a growing Group. This has generated an operating cash flow (adjusted for paid contingent considerations) of SEK 2.5 billion during this period. We primarily use cash flow to invest in additional high- quality companies. The acquisitions are expected to contribute at least 10–12% to annual EBITA growth. Since the business is capital-light, a typical year allocates approximately 2% to capital investments in the operations. In addition to welcom- ing 20 new companies to Asker, we have also taken the extra steps of investing just over SEK 300m in a brand new distribu- tion centre over the past couple of years. Four new acquisitions in the quarter We continued to deliver growth in the third quarter that ex- ceeded our financial target. Sales increased by 15% and adjust- ed EBITA by 24%, with acquisitions made over the past year contributing to a solid start and a positive margin mix, which is part of the reason for the strong EBITA growth. We signed and completed the acquisitions of Murray Surgical in Ireland and Med Kjemi in Norway during the quarter. Ambercell in the Baltics and Labo Clinic in Poland were also signed during the quarter and finalised in early October. Together, these companies broaden our offering, strengthen our local footprint and contribute to our ambition to be a lead- ing partner to caregivers, patients and suppliers in Europe. Warehouse in Gothenburg soon ready The new warehouse in Gothenburg will soon be ready for full use and is both on schedule and within budget. As previously announced, we have double distribution centres and extra Our businesses continued to maintain strong growth in the third quarter. Adjusted EBITA increased by 24% and underlying cash flow remained robust. Organic sales growth was 5% and organic adjusted EBITA growth was 4% (8% excluding the temporary double costs for the start-up of the new warehouse in Gothenburg). Four acquisitions were signed during the quarter. The EBITA margin reached our target of at least 10% over a rolling 12 months for the first time, while capital efficiency remained high at an EBITA/NWC of 69%. CEO’S COMMENTS
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#03 ASKER HEALTHCARE GROUP INTERIM REPORT – Q3 2026 START CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKER FINANCIAL OVERVIEW Financial performance – Group Net sales Net sales for the third quarter amounted to SEK 4,756m (4,129), up 15% year-on-year, of which 5% was organic growth and 10% from acquisitions. Sales growth was driven by a solid organic performance, primarily in Business Area North, and the completion of acquisitions in the Business Areas West and Central. Net sales in the January-September period amounted to SEK 13,963m (12,111), up 15%, of which 5% was organic growth and 11% from acquisitions, while exchange rates had a negative impact of 1%. Adjusted EBITA, net financial items and profit for the period Adjusted EBITA for the third quarter amounted to SEK 473m (383), up 24%, of which 4% was organic growth, 19% from acquisitions and exchange rates had a positive impact of 1%. The adjusted EBITA margin was 9.9% (9.3) for the third quarter. Earnings were negatively impacted in an amount of SEK 16m as a result of parallel operations during the start-up phase of the new distribution centre in Gothenburg. Excluding these costs, adjusted EBITA would have amounted to SEK 488m and adjusted organic EBITA growth would have been 8%. Adjusted EBITA in the January-September period amounted to SEK 1,385m (1,125), up 23%, of which 6% was organic growth and 18% from acquisi- tions, while exchange rates had a negative impact of –1%. Growth was driven by sales growth and improved margins in both established and newly acquired companies. The adjusted EBITA margin was 9.9% (9.3) for the period. Operating profit (EBIT) amounted to SEK 312m (242) for the third quarter and to SEK 971m (728) for the January-September period. Confirmed credit losses remained low and corresponded to 0.01% of net sales both for the quarter and for the January- September period, in line with last year. Confirmed impairment due to obsolete or dam- aged inventory also remained low, amounting to approximately 0.5% of the inventory value, which was also in line with last year. Net financial items amounted to SEK –18m (–61) for the third quarter and to SEK –136m (–241) for the January-September period. The lower net financial expense compared with the preceding year is primarily the result of unrealised foreign exchange rate gains on loans and derivatives, respectively. Tax amounted to SEK –75m (–35) for the third quarter and to SEK –194m (–113) for the January-September period, yielding an effective tax rate of 26% (19) for the quarter and 23% (23) for the period. Profit for the period amounted to SEK 219m (146) in the third quarter and to SEK 641m (374) for the January- September period. Financial position and cash flow Adjusted cash flow from operating activities amounted to SEK 364m (439) for the third quarter and to SEK 1,113m (760) for the January-September period. The decline in cash flow for the quarter was primarily due to the temporary build-up of inventory that occurred in connection with the scheduled opening of the new distribution centre in Gothenburg. Cash flow from investing activities amounted to SEK –336m (–974) for the third quarter and SEK –1,023m (–2,249) for the January-September period. Cash flow was mainly attributable to business acquisitions during the year, with the decline in outflow due to two major platform acquisitions completed last year. Cash flow from investments in non-current assets was mainly related to automation solutions at the new distribution centre in Gothenburg and investments in companies with rental operations. Cash flow related to intangible assets primarily pertained to investments in IT systems. Cash flow from financing activities amounted to SEK –24m (126) for the third quarter and SEK 19m (1,934) for the January-September period. The change compared with last year was mainly attributable to the new share issue and loan restructuring conducted in connection with the IPO in 2025. Net debt increased to SEK 4,637m (3,648). Net debt in Adjusted EBITA per quarter SEKm Adjusted EBITA margin % Adjusted EBITA 20252024 2026 0 100 200 300 400 500 Q3Q2Q1Q4Q3Q2Q1Q4Q3 0 2 4 6 8 10 Net sales per quarter SEKm 20252024 2026 0 1,000 2,000 3,000 4,000 5,000 Q3Q2Q1Q4Q3Q2Q1Q4Q3 Adjusted EBITA growth Jan–Sep 2026 % 6% 23% 18% –1% 0 5 10 15 20 25 Total growth Exchange rate effect Acquired growth Organic growth
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#04 ASKER HEALTHCARE GROUP INTERIM REPORT – Q3 2026 START CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKER FINANCIAL OVERVIEW relation to adjusted EBITDA amounted to 2.33 (2.22). Return on net working capital (EBITA/NWC) increased to 68.8% (66.5). At the end of the quarter, cash and cash equiv- alents amounted to SEK 801m (906) and undrawn credit facilities to SEK 503m (728). Items affecting comparability Items affecting comparability amounted to SEK 27m (34) for the third quarter, of which SEK 11m (19) was related to acquisition costs and SEK 16m (14) to revaluations of contingent considerations. Items affecting comparability amounted to SEK 37m (142) for the January–September period, of which SEK 31m (56) was related to acquisition costs, SEK 2m (70) to revaluations of contingent considerations, and SEK 4m (16) to other items affecting comparability, with the year-on-year difference attributable to items affecting comparability related to the IPO in 2025. Earnings per share Profit for the period attributable to the Parent Company’s shareholders amounted to SEK 214m (142) for the third quarter and to SEK 626m (362) for the January–Septem- ber period. Earnings per share before and after dilution amounted to SEK 0.56 (0.37) for the third quarter and SEK 1.63 (0.91) for the January-September period. The average number of common shares outstanding, before and after dilution, used in the calculation of earnings per share was 383,036,497 for both the third quarter and the period, and 383,036,497 for the third quarter of 2025 and 363,245,342 for the period in 2025. Refer to Note 5 for a reconciliation and calculation. At the end of the period, the number of common shares outstanding totalled 383,036,497. * EBITDA rolling 12 months adjusted for expenses attributable to leases and items affecting comparability. Financial targets and rolling 12-month outcomes TARGET >15% Adjusted EBITA growth per year OUTCOME +21% TARGET >10% Adjusted EBITA margin (medium term) OUTCOME 10.0% TARGET >50% Return on net working capital, EBITA/NWC OUTCOME 69% TARGET <2.5x Net debt/ EBITDA* OUTCOME 2.33x Dividend policy TARGET >30% OUTCOME FOR 2025 0.39 SEK/SHARE (corresponding to 30%) Progress towards 2030 sustainability targets is on track STATUS AS PER 2025 –22% ON TRACK Reduced Scope 1 and 2 emissions* STATUS AS PER 2025 –40% ON TRACK Reduced Scope 3 emissions** STATUS AS PER 2025 85% ON TRACK Code of Conduct for suppliers*** * Reduced Scope 1 and 2 emissions as a percentage compared to the 2021 base year, market-based. ** Total Scope 3, category 1 emissions per SEK m gross profit (tCO2e/SEKm). *** Percentage of suppliers, based on sales, that have signed Asker’s Code of Conduct or an equivalent code. For all sustainability targets, refer to the 2025 Annual Report. TARGET 2030 –42% TARGET 2030 –52% TARGET 2030 >90%
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#05 ASKER HEALTHCARE GROUP INTERIM REPORT – Q3 2026 START CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKER FINANCIAL OVERVIEW Financial performance – Business areas Asker Healthcare Group focuses on northern, western and central Europe and currently has a presence in 19 countries. The Group also has a quality and audit office in Asia. The Group’s operations are conducted in three business areas defined by geographical market, comprising North, West and Central. North consists of Sweden, Norway, Finland, Estonia, Latvia and Lithuania. Operations are conducted through 18 subsidiaries. The average number of full-time equivalents during the period was 911 (857). Financial performance Net sales in the third quarter amounted to SEK 1,326m (1,180), up 12%, of which 10% was organic growth, while exchange rates had an impact of 2%. Adjusted EBITA for the third quarter amounted to SEK 108m (117), and the adjusted EBITA margin amounted to 8.2% (9.9). The third quarter is the region’s smallest quarter based on volume. Earnings were negatively affected by parallel operations during the start-up of the new distribu- tion centre in Gothenburg. Net sales for the January-September period amounted to SEK 4,109m (3,707), up 11%, of which 9% was organic growth and 2% from acquisitions. Adjusted EBITA for the January–September period amounted to SEK 487m (469), up 4%, and the adjusted EBITA margin amounted to 11.9% (12.7). Business Area North continued to report solid organic growth and high operational efficiency. Work on completing the new distribution centre in Gothenburg proceeded according to plan. Customers and parts of the oper- ations are currently being transferred to the new warehouse, which is expected to be fully operational by the end of the year. The temporary build-up of inventory is expected to decline in the fourth quarter, and even further in early 2027. 1 July–30 September 1 January–30 September Rolling 12 months Full-year Amounts in SEKm 2026 2025 Change 2026 2025 Change 2025/2026 2025 Net sales 1,326 1,180 12% 4,109 3,707 11% 5,611 5,210 Adjusted EBITA 108* 117 –7% 487* 469 4% 699 681 Adjusted EBITA margin, % 8.2% 9.9% –1.7 p.p. 11.9% 12.7% -0.8 p.p. 12.5% 13.1% * Including SEK 16m in extra costs related to the new distribution centre. 0 1 2 3 4 Total growth Exchange rate effect Acquired growth Organic growth Adjusted EBITA growth – North Jan–Sep 2026 % 1% 2% 1% 4% Business Area North Net sales per segment, LTM, 1 October 2025 – 30 September 2026 North West Central 30% 50% 20%
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#06 ASKER HEALTHCARE GROUP INTERIM REPORT – Q3 2026 START CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKER FINANCIAL OVERVIEW Business Area West Adjusted EBITA growth – West Jan–Sep 2026 % 0 5 10 15 20 25 30 35 Total growth Exchange rate effect Acquired growth Organic growth 33% –2% 14% 21% West consists of the Netherlands, Belgium, Luxembourg, the UK, Ireland and Denmark. Operations are conducted through 19 subsidiaries. The average number of full-time equivalents during the period was 2,126 (2,093). Financial performance Net sales in the third quarter amounted to SEK 2,460m (2,215), up 11%, of which 3% was organic growth and 8% from acquisitions. Adjusted EBITA for the third quarter amounted to SEK 284m (212), up 34%, and the adjusted EBITA margin amounted to 11.5% (9.6). Net sales in the January–September period amounted to SEK 7,040m (6,243), up 13%, of which 4% was organic growth and 11% from acquisitions, while exchange rates had a negative impact of 2%. Adjusted EBITA for the January-September period amounted to SEK 721m (543), up 33%, and the adjusted EBITA margin amounted to 10.2% (8.7). Business Area West continued to improve its sales and margins, driven by economies of scale and an expanded product and service offering. The region also benefited from operational efficiency due to the ongoing upgrades and improvements to the distribution centres. The new acquisitions also made a significant contribution through the econo- mies of scale that were created when the companies were able to quickly leverage the benefits of new opportunities for cooperation. 1 July–30 September 1 January–30 September Rolling 12 months Full-year Amounts in SEKm 2026 2025 Change 2026 2025 Change 2025/2026 2025 Net sales 2,460 2,215 11% 7,040 6,243 13% 9,340 8,543 Adjusted EBITA 284 212 34% 721 543 33% 936 757 Adjusted EBITA margin, % 11.5% 9.6% 1.9 p.p. 10.2% 8.7% 1.5 p.p. 10.0% 8.9%
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#07 ASKER HEALTHCARE GROUP INTERIM REPORT – Q3 2026 START CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKER FINANCIAL OVERVIEW Business Area Central Central consists of France, Germany, Austria, Switzerland, Slovakia, Poland and the Czech Republic. Operations are conducted through 17 subsidiaries. The average number of full-time equivalents during the period was 1,010 (766). Financial performance Net sales for the third quarter amounted to SEK 971m (735), up 32%, of which the entire amount was from acquisitions. Adjusted EBITA for the third quarter amounted to SEK 110m (65), up 68%, and the adjusted EBITA margin amounted to 11.3% (8.9). Net sales in the January-September period amounted to SEK 2,815m (2,161), up 30%, of which 2% was organic growth and 30% from acquisitions, while exchange rates had a negative impact of 2%. Adjusted EBITA for the January-September period amounted to SEK 280m (177), up 58%, and the adjusted EBITA margin amounted to 9.9% (8.2). The rapid and successful acquisition process in Business Area Central remained the primary driver of sales growth. During the quarter, the business area continued to focus on effi- ciency enhancements and improving margins, as well as on a broader product offering and an improved product mix, which drove the margin trend in both the quarter and the January-September period. 0 10 20 30 40 50 60 Total growth Exchange rate effect Acquired growth Organic growth Adjusted EBITA growth – Central Jan–Sep 2026 % 14% 58% –2% 46% 1 July–30 September 1 January–30 September Rolling 12 months Full-year Amounts in SEKm 2026 2025 Change 2026 2025 Change 2025/2026 2025 Net sales 971 735 32% 2,815 2,161 30% 3,688 3,034 Adjusted EBITA 110 65 68% 280 177 58% 361 259 Adjusted EBITA margin, % 11.3% 8.9% 2.4 p.p. 9.9% 8.2% 1.7 p.p. 9.8% 8.5%
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#08 ASKER HEALTHCARE GROUP INTERIM REPORT – Q3 2026 START CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKER FINANCIAL OVERVIEW Employees During the period, full-time equivalents in the Group averaged 4,095 (3,761), of which the Group function had 48 (45) full-time equivalents. The number of employees was 4,898 at the end of the period (4,486) and 4,559 at the start of the year. Parent Company Asker Healthcare Group AB (559184-9848) is the Parent Company of the Group. Net sales for the Parent Company amounted to SEK 5m (3) for the third quarter. Net financial items amounted to SEK 0m (16) and loss before tax was SEK –9m (18). Total assets amounted to SEK 7,640m (7,784) and total liabilities to SEK 3,316m (3,268). The Parent Company has 2 (2) employees. Accounting policies This interim report has been prepared in accordance with IAS 34 Interim Financial Reporting, the Swedish Corporate Report- ing Board’s recommendation RFR 1 and the Swedish Annual Accounts Act. The information submitted in accordance with IAS 34.16A has been presented both in the consolidated finan- cial statements and in other sections of this interim report. The interim report is presented in million Swedish kronor (SEKm) unless otherwise stated. Amounts in parentheses refer to the preceding year. There may be differences in totals since indi- vidual items have been rounded to the nearest whole SEKm. The accounting policies have been applied as described in the Group’s 2025 Annual Report. For more information, refer to the disclosures as described in the Group’s 2025 Annual Report. A new standard, IFRS 18 Presentation and Disclosures in Financial Statements, was published on 9 April 2024 and is effective as of 1 January 2027. The standard includes new re- quirements for the presentation and disclosure of information in financial statements and also introduces a new structure for the income statement with operating, investing and financing categories, as well as new mandatory subtotals. The principles for aggregation and disaggregation have been clarified, and specific disclosure requirements are introduced for manage- ment-defined performance measures (MPMs). Asker is in the process of implementing the standard, and this includes the presentation of the future income statement, performance measures and the necessary adjustments to reporting and preparing comparative information. The Parent Company’s financial statements have been pre- pared in accordance with the Swedish Corporate Reporting Board’s recommendation RFR 2 Accounting for Legal Entities and the Swedish Annual Accounts Act. RFR 2 means that the Parent Company for the legal entity is to apply all IFRS accounting standards and statements as adopted by the EU as far as possible within the framework of the Annual Accounts Act and taking into account the relationship between account- ing and taxation. Estimates and judgments There have been no changes in the estimates and judgments described in the Group’s most recently issued Annual Report for 2025. Other information Related-party transactions The Annual General Meeting of Asker on 7 May 2026 re- solved, in accordance with the Board of Directors’ proposal, to introduce a long-term performance-based investment share programme for the Group Management Team and other key employees in the Asker Group (“LTIP 2026”). The Board nominates programme participants, which may include not more than 130 participants, divided into four categories. The participants in the programme are required to invest in shares in Asker. The maximum investment potential of each category will be proportionate to the participant’s annual basic salary. Each investment share carries entitlement to two to five per- formance share rights, depending on the category. The maxi- mum allotment, including adjustments for dividends, amounts to 1,220,000 common shares, representing a maximum dilution of 0.32%. The allocation of performance share rights, meaning entitlement to receive shares in Asker, is subject to certain per- formance targets being met (Adjusted EBITA growth, reduc- tion of CO2 emissions and percentage of suppliers who have signed Asker’s Code of Conduct), that the participant remains an employee of Asker and holds investment shares from the start date until the end of the vesting period, extending until the publication of the interim report for the first quarter of 2029. If these targets are met, the performance share rights will be converted into common shares after the vesting period. Furthermore, the Annual General Meeting in May resolved to authorise the Board of Directors to issue a maximum of 1,220,000 Class C shares, repurchase issued Class C shares and transfer own common shares to secure the delivery of per- formance shares. The Class C shares are unlisted. In all other respects, related-party transactions are the same as those described in the Group’s Annual Report. Material risks and uncertainties The Group’s strategic and operational position, and the expected trend in its earnings and financial position, may be affected by risks and uncertainties that the Group is exposed to. Asker works continuously to identify and monitor risks so that it can leverage opportunities to achieve business targets or counteract such risks that the Group is unwilling to take. The material risks that are deemed to have the greatest impact on the Group are strategic and operational risks related to geopolitics and disruptions to the global supply chain, IT and information security-related risks and financial stability. In addi- tion, the Group is impacted by financial risks such as currency risks, liquidity risks and refinancing risks. Changes to risk during the quarter The general uncertainty in global markets remains high. Company management is closely following developments and mitigation plans are followed up and adjusted as necessary. Increasing geopolitical unrest could disrupt supply chains, but the geopolitical situation did not impact the Group’s finan- cial position during the quarter. For more information on the Group’s risks, refer to the risk section in the Group’s Annual Report for 2025.
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#09 ASKER HEALTHCARE GROUP INTERIM REPORT – Q3 2026 START CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKER FINANCIAL OVERVIEW Danderyd, 4 November 2026 Asker Healthcare Group AB Johan Falk CEO
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ASKER HEALTHCARE GROUP INTERIM REPORT – Q3 2026 START CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKER FINANCIAL OVERVIEW #10 Auditor’s report Asker Healthcare Group AB, corporate identity number 559184-9848 Introduction We have reviewed the condensed interim report for Asker Healthcare Group AB as at September 30, 2026 and for the nine months period then ended. The Board of Directors and the Managing Director are responsible for the preparation and presentation of this interim report in accordance with IAS 34 and the Swedish Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on our review. Scope of review We conducted our review in accordance with the International Standard on Review Engagements, ISRE 2410 Review of Inter- im Financial Statements Performed by the Independent Auditor of the Entity. A review consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in ac- cordance with International Standards on Auditing and other generally accepted auditing standards in Sweden. The procedures performed in a review do not enable us to ob- tain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the interim report is not prepared, in all material respects, in accordance with IAS 34 and the Swedish Annual Accounts Act regarding the Group, and in accordance with the Swedish Annual Accounts Act regarding the Parent Company. Stockholm, 4 November 2026 Ernst & Young AB Jennifer Rock-Baley Authorised Public Accountant
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#11 ASKER HEALTHCARE GROUP INTERIM REPORT – Q3 2026 START CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKERFINANCIAL OVERVIEW Financial statements – Group Consolidated income statement 1 July–30 September 1 January–30 September Full-year Amounts in SEKm Note 2026 2025 2026 2025 2025 Net sales 2 4,756 4,129 13,963 12,111 16,787 Cost of goods sold –2,755 –2,446 –8,132 –7,169 –9,916 Gross profit 2,001 1,683 5,831 4,942 6,871 Selling expenses –1,164 –1,033 –3,396 –2,970 –4,119 Administrative expenses –511 –398 –1,493 –1,192 –1,680 Other operating income 15 8 58 33 54 Other operating expenses –28 –18 –29 –85 –117 Operating profit (EBIT) 312 242 971 728 1,009 Financial income 132 54 287 212 222 Financial expenses –151 –114 –423 –454 –572 Profit before tax 294 181 835 487 659 Income tax –75 –35 –194 –113 –149 Profit for the period 219 146 641 374 510 Profit attributable to: Parent Company’s shareholders 214 142 626 362 492 Non-controlling interests 5 4 15 12 18 Earnings per share before and after dilution (SEK) 5 0.56 0.37 1.63 0.91 1.25
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#12 ASKER HEALTHCARE GROUP INTERIM REPORT – Q3 2026 START CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKERFINANCIAL OVERVIEW Condensed consolidated statement of comprehensive income 1 July–30 September 1 January–30 September Full-year Amounts in SEKm 2026 2025 2026 2025 2025 Profit for the period 219 146 641 374 510 Other comprehensive income for the period Items that have been or can be reclassified to the income statement Translation differences for the period on translation of foreign operations 114 –48 266 –216 –276 T otal other comprehensive income for the period 114 –48 266 –216 –276 Comprehensive income for the period 333 98 907 158 234 Of which, attributable to: Parent Company’s shareholders 328 93 891 146 216 Non-controlling interests 5 4 15 12 18
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#13 ASKER HEALTHCARE GROUP INTERIM REPORT – Q3 2026 START CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKERFINANCIAL OVERVIEW Condensed consolidated balance sheet 30 September 31 December Amounts in SEKm Note 2026 2025 2025 ASSETS Goodwill 6,934 6,192 6,369 Other intangible assets 3,324 2,691 3,027 Tangible assets 2,292 1,501 1,780 Financial non-current assets 77 27 32 Deferred tax assets 100 97 94 T otal non-current assets 12,727 10,508 11,302 Inventories 2,624 2,014 2,041 Accounts receivable 2,162 1,913 2,052 Other current receivables 591 596 495 Cash and cash equivalents 801 906 884 T otal current assets 6,179 5,429 5,472 TOTAL ASSETS 18,906 15,937 16,774 EQUITY AND LIABILITIES Equity attributable to Parent Company’s shareholders 7,308 6,481 6,555 Non-controlling interests 46 28 33 T otal equity 7,354 6,509 6,588 Interest-bearing liabilities 3 4,296 4,335 4,224 Lease liabilities 1,042 656 727 Deferred tax liabilities 692 545 606 Other non-current liabilities and provisions 3 714 452 591 T otal non-current liabilities 6,744 5,988 6,149 Interest-bearing liabilities 3 1,261 219 557 Lease liabilities 376 248 306 Accounts payable 1,834 1,492 1,610 Other current liabilities 3 1,338 1,482 1,565 T otal current liabilities 4,808 3,441 4,038 TOTAL EQUITY AND LIABILITIES 18,906 15,937 16,774
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#14 ASKER HEALTHCARE GROUP INTERIM REPORT – Q3 2026 START CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKERFINANCIAL OVERVIEW Condensed consolidated statement of changes in equity 30 September 31 December Amounts in SEKm 2026 2025 2025 Opening balance 6,588 3,502 3,502 Comprehensive income for the period 907 158 234 Paid share issue* – 1,426 1,426 Set-off issue* – 1,439 1,439 Investment share programme 13 – 4 Dividends paid to Parent Company’s shareholders –149 – – Dividends paid to non-controlling interests –2 –15 –15 Transactions attributable to non-controlling interests –3 –1 –1 Closing balance 7,354 6,509 6,588 Equity attributable to: Parent Company’s shareholders 7,308 6,481 6,555 Non-controlling interests 46 28 33 * In conjunction with the IPO on 27 March 2025, Asker conducted a new share issue totalling SEK 1,500m, consisting of 21,428,571 shares at a subscription price of SEK 70 per share. Transaction costs for the full-year amounted to SEK 93m, which, net of tax, impacted equity in the amount of SEK 1,426m. In parallel, a directed set-off issue was conducted to repay existing shareholder loans. The value of shareholder loans with accrued interest amounted to SEK 1,439m, meaning that 20,552,600 new shares were issued at a subscription price of SEK 70 per share.
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#15 ASKER HEALTHCARE GROUP INTERIM REPORT – Q3 2026 START CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKERFINANCIAL OVERVIEW Condensed consolidated statement of cash flows 1 July–30 September 1 January–30 September Full-year Amounts in SEKm Note 2026 2025 2026 2025 2025 Operating profit (EBIT) 312 242 971 728 1,009 Adjustments for non-cash items* 302 179 776 570 839 Interest received 4 2 9 7 10 Interest paid –66 –46 –181 –148 –201 Income tax paid –76 –76 –221 –261 –337 475 301 1,354 896 1,321 Change in current receivables –45 –26 61 –94 –87 Change in inventories –207 34 –343 –7 53 Change in current liabilities 4 136 130 –201 –35 41 Cash flow from operating activities 360 439 871 760 1,328 Investments in intangible assets** –27 –30 –102 –183 –223 Investments in tangible assets –84 –59 –222 –183 –367 Sale of intangible and tangible assets 2 – 50 – 15 Acquisition of subsidiaries (less acquired cash) 4 –228 –885 –750 –1,882 –2,331 Cash flow from investing activities –336 –974 –1,023 –2,249 –2,906 New borrowings – 994 – 5,098 5,098 Repayments of borrowings – –121 – –4,158 –4,258 Repayment of lease liabilities –103 –75 –277 –208 –290 Changes in overdraft facilities 79 –658 448 –213 59 Share issue – – – 1,407 1,407 Private placement for non-controlling interests – – – 24 24 Dividends paid to Parent Company’s shareholders – – –149 – – Dividends paid to holders of non-controlling interests – –14 –2 –15 –15 Cash flow from financing activities –24 126 19 1,934 2,025 Cash flow for the period –1 –409 –134 446 447 Cash and cash equivalents at the beginning of the period 777 1,325 884 490 490 Exchange rate differences in cash and cash equiv- alents 26 –10 51 –30 –53 Cash and cash equivalents at the end of the period 801 906 801 906 884 * Pertains mainly to amortisation and revaluation of contingent considerations. ** Of which, investments in distribution rights in the Baltics amounted to SEK 21m in the January-September 2026 period and to SEK 98m for the full-year 2025. The payment in 2026 refers to a deferred portion.
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#16 ASKER HEALTHCARE GROUP INTERIM REPORT – Q3 2026 START CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKERFINANCIAL OVERVIEW Condensed income statement for the Parent Company 1 July–30 September 1 January–30 September Full-year Amounts in SEKm 2026 2025 2026 2025 2025 Net sales 5 3 17 14 19 Gross profit 5 3 17 14 19 Administrative expenses –14 –0 –37 –42 –53 Other operating income and expenses 0 0 0 1 1 Operating loss –9 3 –21 –28 –34 Financial income and expenses 0 16 –3 49 67 Appropriations – – – – 43 Profit/loss before tax –9 18 –23 21 76 Income tax 1 –15 1 –15 –19 Profit/loss for the period –8 3 –23 6 58 The Parent Company has no transactions to report in other comprehensive income, and subsequently the Parent Company’s comprehensive income is consistent with profit/ loss for the period.
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#17 ASKER HEALTHCARE GROUP INTERIM REPORT – Q3 2026 START CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKERFINANCIAL OVERVIEW Condensed balance sheet for the Parent Company 30 September 31 December Amounts in SEKm 2026 2025 2025 ASSETS Financial non-current assets 3,592 3,574 3,578 T otal non-current assets 3,592 3,574 3,578 Current assets 4,048 4,210 4,176 Cash and cash equivalents 0 0 0 T otal current assets 4,048 4,210 4,176 TOTAL ASSETS 7,640 7,784 7,754 EQUITY AND LIABILITIES Restricted equity 1 1 1 Non-restricted equity 4,311 4,414 4,470 T otal equity 4,311 4,415 4,470 Untaxed reserves – 91 – Provisions 13 10 11 Non-current liabilities 3,285 3,232 3,188 Current liabilities 30 36 84 T otal liabilities 3,316 3,268 3,273 TOTAL EQUITY AND LIABILITIES 7,640 7,784 7,754
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#18 ASKER HEALTHCARE GROUP INTERIM REPORT – Q3 2026 START CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKERFINANCIAL OVERVIEW Notes NOTE 1 Segment information 1 July–30 September 1 January–30 September Full-year Amounts in SEKm 2026 2025 2026 2025 2025 Net sales from external customers North 1,326 1,180 4,109 3,707 5,210 West 2,460 2,215 7,040 6,243 8,543 Central 971 735 2,815 2,161 3,034 Other and eliminations – – – – – T otal net sales from external customers 4,756 4,129 13,963 12,111 16,787 Net sales from other operating segments North 20 21 63 68 93 West 32 23 76 50 72 Central 3 4 10 8 11 Other and eliminations –56 –48 –149 –125 –175 T otal net sales from other operating segments – – – – – T otal net sales 4,756 4,129 13,963 12,111 16,787 Adjusted EBITA North 108 117 487 469 681 West 284 212 721 543 757 Central 110 65 280 177 259 Other and eliminations –29 –12 –103 –64 –102 T otal adjusted EBITA 473 383 1,385 1,125 1,594 Items affecting comparability (see definitions and Note 5) –27 –34 –37 –142 –204 EBITA North 106 113 480 442 625 West 265 199 710 534 743 Central 104 50 262 117 185 Other and eliminations –29 –14 –104 –111 –163 T otal EBITA 445 348 1,349 983 1,390 Amortisation of intangible assets from acquisitions –102 –86 –288 –197 –288 Amortisation of intangible assets from operating activities –31 –21 –90 –57 –93 Operating profit (EBIT) 312 242 971 728 1,009 Net financial items –18 –61 –136 –241 –350 Profit before tax 294 181 835 487 659
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#19 ASKER HEALTHCARE GROUP INTERIM REPORT – Q3 2026 START CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKERFINANCIAL OVERVIEW NOTE 2 Net sales Asker’s companies primarily sell medical supplies, devices, equipment and related services, where some equipment requires installation. Two performance obligations have been identified in customer contracts comprising delivery of medical equipment that includes installation, since both the equipment and the installation are deemed to be distinct performance obligations. The performance obligation for the sale of medical NOTE 3 Fair value of financial instruments Asker’s financial assets and financial liabilities measured at fair value through profit or loss refer to derivatives and liabilities related to contingent considerations arising in connection with business combinations. For derivatives, the fair value is deter- mined based on observable market data, meaning level 2 of the fair value hierarchy stipulated in IFRS 13. The closing balance for positive derivatives amounted to SEK 69m (5), and the clos- ing balance for negative derivatives amounted to SEK 9m (26). Liabilities for contingent considerations are recognised based on the acquired company’s earnings, meaning a multiple valuation based on future EBITDA or EBITA performance measures, discounted using the Group’s discount rate, with Contingent consideration 30 September 31 December Amounts in SEKm 2026 2025 2025 Opening balance 870 688 688 Acquisitions 189 158 215 Payments –468 –166 –166 Remeasurement* 2 70 96 Discount effect* 58 40 61 Reclassifications – – 8 Exchange rate differences 45 –18 –32 Closing balance 696 771 870 * The earnings effect of the remeasurement of contingent considerations amounts to SEK –2m (–70) and is rec- ognised in other operating expenses. The impact of the discount effect is SEK –58m (–40) and is recognised in net financial items. 1 July–30 September 1 January–30 September Full-year Amounts in SEKm 2026 2025 2026 2025 2025 Sale of goods North 1,188 1,058 3,698 3,332 4,697 West 2,253 2,175 6,430 6,148 7,855 Central 858 706 2,537 2,066 2,670 T otal goods 4,299 3,939 12,666 11,546 15,223 Sale of services North 137 122 410 375 512 West 207 39 609 95 688 Central 113 29 277 95 364 T otal services 456 190 1,297 565 1,564 T otal net sales 4,756 4,129 13,963 12,111 16,787 supplies, devices and equipment is satisfied when Asker’s com- panies deliver the supplies and equipment in accordance with the delivery terms in the specific contract and control is thus transferred to the customer. Installation of medical equipment is a service that is recognised over time as it is performed. The same applies for service contracts. future EBITDA/EBITA measures obtained from company man- agement’s best estimates based on adopted business plans, implying valuation in level 3 according to the fair value hierarchy. There were no transfers between levels during the period. Other assets and liabilities are recognised at amortised cost. The fair value of liabilities to credit institutions is estimated to be consistent with the carrying amount since the loans carry variable interest rates. The fair value of short-term borrowing corresponds to its carrying amount since the discount effect is not material. See below for a table of the changes in contingent considerations in level 3, from both business combinations and asset acquisitions.
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#20 ASKER HEALTHCARE GROUP INTERIM REPORT – Q3 2026 START CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKERFINANCIAL OVERVIEW As part of Asker’s value creation, whereby organic growth is complemented with acquisitions of small and medium-sized companies to add new products, customer groups and/or channels and thus build a full-service offering and create a platform for a more efficient value chain for the healthcare sec- tor, the following business combinations have been completed in 2026. • On 2 February, the Group acquired 100% of the shares in Van Heek Medical (signed in the fourth quarter of 2025), a leading manufacturer and distributor of medical supplies in the Benelux region. The company had 64 employees and sales of approximately SEK 350m in the most recent financial year. Identified excess values consist of customer relation- ships, trademarks and goodwill. • On 3 February, the Group acquired 100% of the shares in German Healthcare (GHC) and Medicalprodukte Vertrieb Flensburg (MPF), two interlinked medical supplies companies within the home care segment in Germany. The companies had 140 employees and sales of approximately SEK 300m in the most recent financial year. Identified excess values consist of customer relationships, trademarks and goodwill. • On 1 April, the Group acquired 100% of the shares in RMS Medical Devices, a fast-growing medical device distributor based in Belgium. The company had 25 employees and sales of approximately SEK 170m in the most recent financial year. Identified excess values consist of customer relationships, trademarks and goodwill. • In June, it was decided that the Group would discontinue the acquisition of Kirstine Hardam in Denmark, which had been announced in June 2025, in full agreement with the company’s owner. • On 3 July, the Group acquired 100% of the shares in Murray Surgical, a leading distributor of specialist surgical and medical products to the healthcare sector in Ireland. The company had nine employees and sales of approximately SEK 73m in the most recent financial year. Identified excess values consist of customer relationships, customer contracts, trademarks and goodwill. • On 1 September, the Group acquired 100% of the shares in Med Kjemi, a specialist distributor of equipment and consum- ables for hospital laboratories in Norway. The company had five employees and sales of approximately SEK 50m in 2025. Identified excess values consist of customer relationships and goodwill. Preliminary purchase price allocations for acquired identifiable net assets are provided below. Since individual disclosures about acquisitions are not material, disclosures are provided in aggregated form. NOTE 4 Business combinations Acquired assets measured at fair value Amounts in SEKm T otal for the period Intangible assets 431 Tangible assets 11 Right-of-use assets 55 Inventories 149 Other current assets 179 Cash and cash equivalents 45 Deferred tax assets/liabilities –101 Interest-bearing liabilities –60 Lease liabilities –55 Other operating liabilities –140 T otal identifiable net assets 514 Goodwill 348 Non-controlling interests – Consideration 862 Paid consideration 566 Outstanding consideration 2026 107 Contingent consideration 189 T otal estimated consideration 862 Effect of acquisitions on cash flow Amounts in SEKm T otal for the period Paid consideration –566 Cash and cash equivalents in acquired companies 45 Paid contingent consideration impacting investing activities* –226 Paid consideration attributable to non-controlling interest –3 T otal cash flows in investing activities –750 Paid contingent consideration impacting operating activities* –242 T otal cash flow from operating activities –242 * According to IFRS Accounting Standards, payments of contingent considerations must be allocated in the statement of cash flows between investing activities and operating activities based on how they have impacted initial purchase price alloca- tions and earnings, respectively, in subsequent periods. Other current assets mainly relate to accounts receivable. There is no material difference between acquired receivables and the gross amount, and there are no receivables that are not expected to be settled. Control was obtained through initial cash payments, forthcoming settlements of purchase considerations related to completed acquisitions, and contin- gent consideration agreements. Asker prepares preliminary purchase price allocations for the period during which there is uncertainty regarding the outcome of specific components of the acquisition agreements, for example, during the period that the company engages external valuation specialists and the external valuation has not yet been completed, or in cases when the final acquisition balance has not been received. However, the valuation period never extends for more than one year from the acquisition date. The purchase price allocations for acquisitions completed as of the fourth quarter of 2025 up to and including the third quarter of 2026 are preliminary since the Group has not received final, definitive information from
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#21 ASKER HEALTHCARE GROUP INTERIM REPORT – Q3 2026 START CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKERFINANCIAL OVERVIEW NOTE 4 Business combinations, cont. Acquisitions in the last two years Y ear Month of closure Acquisitions Business area Country Acquired shareholding Net sales*, SEKm No. of full-time equivalents 2026 September Med Kjemi North Norway 100% 50 5 2026 July Murray Surgical West Ireland 100% 73 9 2026 April RMS West Belgium 100% 170 19 2026 February GHC/MPF Central Germany 100% 300 117 2026 February Van Heek Medical West Netherlands 100% 350 59 2025 December Cardio Dépôt Central France 100% 25 5 2025 November InnoMedicus Central Switzerland 100% 50 10 2025 October Novus Med West UK 100% 80 12 2025 October Finmed Central France 79% 380 62 2025 October Dartin Central Czech Republic 100% 46 23 2025 September Oudshoorn West Netherlands 100% 37 8 2025 August HNC West UK 100% 60 19 2025 July Scan Modul West Netherlands 100% 400 94 2025 July ITAK North Estonia 100% 90 67 2025 May MS Labors Central Austria 100% 23 5 2025 February HSL Group West Ireland 97% 800 150 2025 February Mayumana West Netherlands 100% 60 11 2024 November Hauser Central Austria 100% 23 5 2024 November Opitek West Denmark 100% 10 3 2024 October Kvinto North Norway 100% 60 3 * Estimated net sales at date of acquisition, annual basis the acquired companies. No material changes were made to the Group’s purchase price allocations during the quarter with respect to acquisitions in the prior year. Fair value adjustments to intangible assets generally com- prise customer relationships, customer contracts and trade- marks. Goodwill is justified based on high profitability and the personnel included in the acquired companies. For acquisi- tions, Asker usually applies an acquisition structure with basic consideration and possible contingent consideration. The con- tingent consideration is based on the earnings of the acquiree, implying a multiple valuation based on future EBITDA or EBITA performance measures, discounted using the Group’s dis- count rate. Future EBITDA/EBITA performance measures are obtained from management’s best estimate based on adopted business plans. Contingent consideration is initially measured at the present value of probable future outcomes, which for the acquisitions during the period has been estimated at SEK 189m (151). In total, contingent considerations for acquisitions completed during the period may amount to between SEK 0m and SEK 545m. No changes were made to the method for cal- culating consideration. Transaction costs for the acquisitions made during the period amounted to SEK 13m (37) and are included in administrative expenses in profit or loss. The impact on the Group’s net sales from the acquired companies since the acquisition date amounted to SEK 502m and the impact on the Group’s EBITA since the acquisition date amounted to SEK 94m. If all acquired companies had been consolidated from 1 January 2026, net sales for the period would have amounted to SEK 14,131m and EBITA to SEK 1,370m. Completed acquisitions after the end of the reporting period • On 1 October, the Group completed the acquisition of 100% of the shares in Ambercell Solutions, a leading Baltic medtech solutions provider and distributor with a broad portfolio of medical products, technologies and clinical solutions. The company had 45 employees and sales of approximately SEK 250m in the most recent year. • On 1 October, the Group completed the acquisition of 100% of the shares in Labo Clinic, a Polish distributor with a market-leading position in neurosurgical microscopes and a specialised offering for operating rooms and hospital phar- macy workflows. The company had 13 employees and sales of approximately SEK 100m in the most recent financial year. • On 2 November, the Group completed the acquisition of 100% of the shares in Teresa, a specialist provider of mobility aids and personal assistive equipment in Estonia. The company had 26 employees and sales of approximately SEK 41m in the most recent year.
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#22 ASKER HEALTHCARE GROUP INTERIM REPORT – Q3 2026 START CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKERFINANCIAL OVERVIEW Adjusted EBITA and adjusted EBITA margin, % 1 July–30 September 1 January–30 September Rolling 12 months Full-year Amounts in SEKm 2026 2025 2026 2025 2025/2026 2025 Operating profit (EBIT) 312 242 971 728 1,252 1,009 Amortisation of intangible assets from acquisi- tions 102 86 288 197 379 288 Amortisation of intangible assets from operating activities 31 21 90 57 125 93 EBITA 445 348 1,349 983 1,756 1,390 Items affecting comparability Acquisition costs 11 19 31 56 65 90 Revaluation of contingent considerations 16 14 2 70 28 96 Other non-recurring items – 1 4 16 6 18 T otal items affecting comparability 27 34 37 142 99 204 Adjusted EBITA 473 383 1,385 1,125 1,855 1,594 Net sales 4,756 4,129 13,963 12,111 18,639 16,787 Adjusted EBITA margin, % (Adjusted EBITA/Net sales) 9.9% 9.3% 9.9% 9.3% 10.0% 9.5% Adjusted EBITA growth Rolling 12 months Full-year Amounts in SEKm 2025/2026 2025 Adjusted EBITA 1,855 1,594 Growth, current period compared with previous 21.2% 17.1% EBITA margin 1 July–30 September 1 January–30 September Rolling 12 months Full-year Amounts in SEKm 2026 2025 2026 2025 2025/2026 2025 EBITA 445 348 1,349 983 1,756 1,390 Net sales 4,756 4,129 13,963 12,111 18,639 16,787 EBITA margin 9.4% 8.4% 9.7% 8.1% 9.4% 8.3% Adj. cash flow from operating activities 1 July–30 September 1 January–30 September Full-year Amounts in SEKm 2026 2025 2026 2025 2025 Cash flow from operating activities 360 439 871 760 1,328 Payment of contingent considerations that im- pacted operating activities 5 – 242 – 57 Adj. cash flow from operating activities 364 439 1,113 760 1,385 NOTE 5 Alternative performance measures Certain information in Asker’s interim report that is used by management and analysts to assess and evaluate the Group’s financial position and earnings is not defined in accordance with IFRS Accounting Standards. The Group believes that the information aids the understanding of Asker’s financial position and earnings. This information should be regarded as supple- mentary information and does not replace the consolidated financial statements prepared in accordance with IFRS.
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#23 ASKER HEALTHCARE GROUP INTERIM REPORT – Q3 2026 START CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKERFINANCIAL OVERVIEW EBITDA adjusted for leases and items affecting comparability 1 July–30 September 1 January–30 September Rolling 12 months Full-year Amounts in SEKm 2026 2025 2026 2025 2025/2026 2025 Operating profit (EBIT) 312 242 971 728 1,252 1,009 Depreciation of tangible assets 141 113 392 310 517 435 Amortisation of intangible assets from acquisi- tions 102 86 288 197 379 288 Amortisation of intangible assets from operating activities 31 21 90 57 125 93 Operating profit (EBITDA) 586 461 1,740 1,293 2,273 1,825 Items affecting comparability 27 34 37 142 99 204 Expenses attributable to leases –108 –79 –299 –221 –383 –305 EBITDA adjusted for leases and items affecting comparability 506 417 1,478 1,213 1,989 1,724 Net debt 30 September 31 December Amounts in SEKm 2026 2025 2025 Non-current interest-bearing liabilities 4,296 4,334 4,223 Non-current interest-bearing liabilities to credit institutions 4,296 4,334 4,223 Current interest-bearing liabilities 1,142 219 557 Current interest-bearing liabilities to credit institutions 1,142 219 557 Cash and cash equivalents 801 906 884 Net debt 4,637 3,648 3,896 Debt/equity ratio 30 September 31 December Amounts in SEKm 2026 2025 2025 Net debt 4,637 3,648 3,896 Total equity 7,354 6,509 6,588 Debt/equity ratio 0.6 0.6 0.6 Net debt/EBITDA adjusted for leases and items affecting comparability 30 September 31 December Amounts in SEKm 2026 2025 2025 Net debt 4,637 3,648 3,896 EBITDA adjusted for leases and items affecting comparability, rolling 12 months 1,989 1,647 1,724 Net debt/EBITDA adjusted for leases and items affecting comparability 2.33 2.22 2.26 Outstanding consideration 119 – – Net debt/EBITDA adjusted for leases and items affecting comparability, including outstanding consideration 2.39 2.22 2.26 Capital employed 30 September 31 December Amounts in SEKm 2026 2025 2025 Total equity 7,354 6,509 6,588 Total interest-bearing liabilities 5,557 4,554 4,781 Contingent considerations 696 771 870 Compound call and put option 140 43 127 Total lease liabilities 1,418 904 1,033 T otal capital employed 15,165 12,780 13,399 NOTE 5 Alternative performance measures, cont.
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#24 ASKER HEALTHCARE GROUP INTERIM REPORT – Q3 2026 START CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKERFINANCIAL OVERVIEW NOTE 5 Alternative performance measures, cont. Return on capital employed 30 September 31 December Amounts in SEKm 2026 2025 2025 Operating profit (EBIT), rolling 12 months 1,252 1,016 1,009 Average capital employed 14,228 11,668 12,456 Return on capital employed, % 8.8% 8.7% 8.1% Goodwill from owner change 2019 –2,493 –2,493 –2,493 Adjusted average capital employed 11,735 9,175 9,963 Return on adjusted capital employed, % 10.7% 11.1% 10.1% Net working capital 30 September 31 December Amounts in SEKm 2026 2025 2025 Inventories 2,624 2,014 2,041 Accounts receivable 2,162 1,913 2,052 Accounts payable –1,834 –1,492 –1,610 Advance payments from customers –8 –10 –25 T otal net working capital 2,944 2,425 2,459 Return on net working capital (EBITA/NWC), % 30 September 31 December Amounts in SEKm 2026 2025 2025 Adjusted EBITA, rolling 12 months 1,855 1,531 1,594 Average net working capital 2,697 2,303 2,378 Return on net working capital (EBITA/NWC), % 68.8% 66.5% 67.0% Earnings per share Asker has calculated earnings per share in accordance with IAS 33, whereby profit attributable to the Parent Company has been adjusted for the interest component of preference shares, with adjustment being made for the number of common shares received after the conversion of preference shares to common shares in conjunction with the IPO, and the number of shares has been calculated based on the average number of shares outstanding. As an alternative performance measure, Asker has calculated earnings per share based on recognised profit or loss for the period, and as if the effects of the new share issue, the set-off issue and the conversion of preference shares to common shares had taken place before the start of the initial comparative period. 1 July–30 September 1 January–30 September Rolling 12 months Full-year 2026 2025 2026 2025 2025/2026 2025 Profit or loss attributable to Parent Company’s shareholders (SEKm) 214 142 626 362 756 492 Adjustment for interest component of preference shares (SEKm) – – – –31 – –31 Adjusted profit or loss attributable to Parent Company’s shareholders (SEKm) 214 142 626 331 756 461 Average number of common shares outstanding 383,036,497 383,036,497 383,036,497 363,245,342 383,036,497 368,248,106 Earnings per share (SEK) 0.56 0.37 1.63 0.91 1.97 1.25 Profit or loss attributable to Parent Company’s shareholders (SEKm) 214 142 626 362 756 492 Total number of common shares outstanding 383,036,497 383,036,497 383,036,497 383,036,497 383,036,497 383,036,497 Adjusted earnings per share (SEK) 0.56 0.37 1.63 0.94 1.97 1.28
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#25 ASKER HEALTHCARE GROUP INTERIM REPORT – Q3 2026 START CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKERFINANCIAL OVERVIEW Financial key performance indicators 2026 2025 2024 Amounts in SEKm unless otherwise stated Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Net sales 4,756 4,686 4,521 4,676 4,129 3,987 3,995 4,303 3,597 EBITA 445 475 428 407 348 323 311 359 272 EBITA margin, % 9.4% 10.1% 9.5% 8.7% 8.4% 8.1% 7.8% 8.3% 7.6% Adjusted EBITA 473 471 442 470 383 378 364 406 306 Adjusted EBITA margin, % 9.9% 10.0% 9.8% 10.0% 9.3% 9.5% 9.1% 9.4% 8.5% EBITDA adjusted for leases and items affecting comparability 506 503 469 511 417 408 389 433 335 Capital employed 15,165 14,273 14,074 13,399 12,780 12,321 11,324 10,247 9,894 Average capital employed 14,228 13,632 13,143 12,456 11,668 10,946 10,158 9,615 9,211 EBIT 312 349 310 281 242 249 237 287 212 Return on capital employed, % 8.8% 8.7% 8.2% 8.1% 8.7% 9.0% 9.9% 10.0% 8.2% Return on adjusted capital employed, % 10.7% 10.6% 10.2% 10.1% 11.1% 11.7% 13.2% 13.6% 11.2% Total assets 18,906 17,832 17,753 16,774 15,937 15,208 14,234 13,118 12,631 Equity 7,354 7,018 6,871 6,588 6,509 6,424 6,239 3,502 3,356 Profit for the period 219 225 197 136 146 133 95 108 82 Net debt 4,637 4,511 3,871 3,896 3,648 2,886 2,585 3,091 3,113 Net debt/EBITDA adjusted for leases and items affecting comparability 2.3 2.4 2.1 2.3 2.2 1.8 1.7 2.1 2.2 Debt/equity ratio 0.6 0.6 0.6 0.6 0.6 0.4 0.4 0.9 0.9 Net working capital 2,944 2,767 2,619 2,459 2,425 2,380 2,250 2,157 2,112 Average net working capital 2,697 2,567 2,470 2,378 2,303 2,225 2,125 2,020 1,917 Return on net working capital (EBITA/NWC), % 68.8% 68.7% 67.7% 67.0% 66.5% 65.4% 66.5% 67.4% 66.3% Adjusted cash flow from operating activities 364 330 419 625 439 211 109 459 223 1 January–30 September Rolling 12 months Full-year Amounts in SEKm unless otherwise stated 2026 2025 2025/2026 2025 Net sales 13,963 12,111 18,639 16,787 EBITA 1,349 983 1,756 1,390 EBITA margin, % 9.7% 8.1% 9.4% 8.3% Adjusted EBITA 1,385 1,125 1,855 1,594 Adjusted EBITA margin, % 9.9% 9.3% 10.0% 9.5% EBITDA adjusted for leases and items affecting comparability 1,478 1,213 1,989 1,724 Average capital employed 14,228 11,668 14,228 12,456 Return on capital employed, % 8.8% 8.7% 8.8% 8.1% Net debt 4,637 3,648 4,637 3,896 Net debt/EBITDA adjusted for leases and items affecting comparability 2.3 2.2 2.3 2.3 Debt/equity ratio 0.6 0.6 0.6 0.6 Average net working capital 2,697 2,303 2,697 2,378 Return on net working capital (EBITA/NWC), % 68.8% 66.5% 68.8% 67.0% Average number of full-time equivalents 4,095 3,761 4,030 3,695 Number of employees at the end of the period 4,898 4,486 4,898 4,559 Adjusted cash flow from operating activities 1,113 760 1,738 1,385 Earnings per share before and after dilution (SEK) 1.63 0.91 1.97 1.25 Earnings per share before and after dilution (SEK), adjusted* 1.63 0.94 1.97 1.28 * Refer to Note 5 for the calculation of alternative performance measures.
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#26 ASKER HEALTHCARE GROUP INTERIM REPORT – Q3 2026 START CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKERFINANCIAL OVERVIEW Definitions KEY PERFORMANCE INDICATORS DEFINITIONS PURPOSE EBITA Operating profit before amortisation and impairment of intangible assets. EBITA provides an overall view of profit generated by op- erations and is a metric that the Group considers to be relevant for investors who want to understand earnings generation before amortisation of intangible assets. EBITA margin, % EBITA as a percentage of net sales. The KPI is used to measure the company’s profitability before amortisation and impairment of intangible assets. Items affecting comparability Acquisition costs, revaluation of contingent consider- ations, as well as other non-recurring items deemed to affect comparability. Items affecting comparability make adjustments for items that are not deemed to reflect the underlying operations. Adjusted EBITA EBITA excluding items affecting comparability. The KPI increases comparability of EBITA over time since it makes adjustments for the impact of items affecting comparability that are considered to be of a non-recurring nature and therefore do not reflect the underlying operations. Adjusted EBITA margin, % Adjusted EBITA as a percentage of net sales. The KPI is used to measure the company’s profitability excluding the impact of acquisition and integration ex- penses and other items affecting comparability. Organic growth Year-on-year change in net sales or profit/loss, excluding exchange rate effects, from entities that have been part of the Group for at least 12 months. Growth that arises when Group companies take over specific assets (asset acquisitions) from other operators is normally considered organic growth. This could take the form of the Group taking over distribution contracts and paying a compen- sation fee to a previous operator. Organic growth is used to illustrate growth from the underlying business operations adjusted for the effects of currency and acquisitions. EBITA growth Percentage change in EBITA between two periods. The KPI is used to measure the company’s earnings growth. EBITDA adjusted for leases and items affecting comparability Operating profit before depreciation, amortisation and impairment of tangible and intangible assets less actual rent costs attributable to leases and items affecting comparability. The metric shows the company’s earnings generation before investments in non-current assets as if all leases had been recognised as operating leases and adjusted for acquisition and integration expenses and other items affecting comparability. Adjusted cash flow from operating activities Cash flow from operating activities, adjusted for pay- ments of contingent considerations that, under IFRS Accounting Standards, must be presented under operat- ing activities in the statement of cash flows. This metric shows the company’s underlying cash flow from operating activities. Capital employed Equity and interest-bearing liabilities including contingent considerations and liabilities related to compound call and put options. Capital employed is a metric that the Group considers to be relevant for investors who want to understand the company’s net assets that are to generate profit. Adjusted capital employed Equity and interest-bearing liabilities including contingent considerations and liabilities related to combined call and put options less the goodwill arising from the change of ownership in 2019. The metric adjusts capital employed by the goodwill that arose from the change of ownership in 2019 to better reflect the capital of the underlying operations. Average capital employed/ adjusted capital employed Average capital employed/adjusted capital employed for the four most recent quarters. The measure provides an understanding of capital em- ployed/adjusted capital employed over time and is used to calculate the return on capital employed. Return on capital employed/ adjusted capital employed, % Operating profit (EBIT) rolling 12 months as a percentage of average capital employed/adjusted capital employed. The metric is an indication of how efficient the Group is at utilising its capital resources. Net debt Non-current and current interest-bearing liabilities to credit institutions less cash and cash equivalents. This KPI is used as a supplement to assess the feasibility of paying dividends and making strategic investments, and for assessing the Group’s ability to meet its financial commitments. Net debt/EBITDA adjusted for leases and items affecting comparability Net debt as a percentage of EBITDA less actual rent costs attributable to leases and items affecting compara- bility, rolling 12 months. This KPI is a debt ratio that shows how many years it would take to pay off the company’s debt, provided that its net debt and EBITDA are constant and without taking into account cash flows for interest, tax and investments. Debt/equity ratio Net debt as a percentage of equity. The metric shows the proportion of net debt as a per- centage of equity. Net working capital Total of inventories and accounts receivable less ac- counts payable and advance payments from customers. This metric shows the capital that the company has available to finance the operating activities.
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#27 ASKER HEALTHCARE GROUP INTERIM REPORT – Q3 2026 START CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKERFINANCIAL OVERVIEW KEY PERFORMANCE INDICATORS DEFINITIONS PURPOSE Average net working capital Total of inventories and accounts receivable less ac- counts payable and advance payments from customers, average for the four most recent quarters. The measure provides an understanding of working capital over time and is used to calculate the return on net working capital. Return on net working capital (EBITA/NWC), % Adjusted EBITA rolling 12 months as a percentage of average net working capital. The KPI is used to analyse profitability and is a metric that puts a premium on high EBITA and low net working capital requirements. Cash flow from operating activities Total of cash flow for the period from operating activities. Cash flow is used to provide an overview of the cash and cash equivalents that flow in and out of the operations. Average number of full-time equivalents Calculated as the average number of employees for the year, taking into account the percentage of full-time employment. The metric can be used to compare specific key perfor- mance indicators in relation to average employees. Number of employees at the end of the period The number of employees in the Group at the end of the period. This metric is used to know how many employees the Group has at the end of a given period. Earnings per share Profit for the period, adjusted for the amount related to the settlement of preference shares, attributable to the Parent Company’s shareholders divided by the average number of common shares outstanding. Earnings per share is used to determine the value of the company’s average number of common shares outstanding. Adjusted earnings per share Recognised profit for the period attributable to the Parent Company’s shareholders divided by the total number of common shares outstanding. Adjusted earnings per share is used to determine the value of the company’s total number of common shares outstanding.
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ASKER HEALTHCARE GROUP INTERIM REPORT – Q3 2026 START CEO’S COMMENTS FINANCIAL STATEMENTS DEFINITIONS ABOUT ASKERFINANCIAL OVERVIEW Address: Asker Healthcare Group AB Svärdvägen 3A, SE-182 33 Danderyd, Sweden www.asker.com About Asker Healthcare Group Financial calendar Date Year-end report 10 February 2027 Interim Report – Q1 2027 22 April 2027 Annual General Meeting 2027 5 May 2027 Interim Report – Q2 2027 16 July 2027 Interim Report – Q3 2027 22 October 2027 Additional information Investors and analysts Thomas Moss, CFO and Head of IR Tel: +46 70 219 79 05 E-mail: ir@asker.com Media Emma Rheborg, Head of Communication Tel: +46 73 313 62 17 E-mail: emma.rheborg@asker.com The information was submitted for publica- tion, through the agency of the contact per- sons set out above, on 4 November 2026, at 8:10 a.m. CET. Leading provider of medical products and solutions – Driving progress in the European healthcare sector. Asker Healthcare Group is a European leading provider of medical products and solutions. Over the past decade we have organically and via acquisitions built a pan-European group with deep knowledge in healthcare, attracting entrepreneurs that together with us want to drive progress and support the healthcare sector to improve patient outcomes, reduce the total cost of care and ensure a fair and sustainable value chain. By combining entrepreneurial responsibility with a distinct steering model, we have created a solid platform for growth with continuous acquisitions in the fragmented European MedTech-market. Today, the Group consists of more than 60 companies in 19 countries and more than 5,000 employees, and brings significant scale and knowledge sharing, to the benefit of the Group and the healthcare sector. We are “Health in progress”. Organic growth and platform for economies of scale Acquisition engine and natural consolidation of the market Asker’s strategy for value creation – its twin engine – is built on two distinct but interlinked components that combine organic growth with acquisitions. asker.com/sustainability/ sustainability-reporting/msci