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ASSA ABLOY is the global leader in access solutions. Every day we help people feel safe, secure and experience a more open world. © ASSA ABLOY. All rights reserved ASSA ABLOY Q3 interim report 2026
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© ASSA ABLOY. All rights reserved Good organic sales development • Strong sales growth in Americas and EMEIA • Good sales growth in Global Technologies and Entrance Systems • Decline in APAC Record high EBIT and margin • Excellent operating leverage Strong cash flow • Increase of 6% versus last year Electromechanical organic sales growth was 9% in the regional divisions 3 acquisitions completed MFP11 to be launched in Q4 Record high sales, operating profit and margin
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© ASSA ABLOY. All rights reserved 3 Q3 2026 figures in summary 38 146 40 771 6 416 7 102 5 000 5 500 6 000 6 500 7 000 7 500 8 000 Q3 2025 Q3 2026 31 500 34 700 37 900 41 100 Sales, MSEK EBIT*, MSEKSales MSEK 40,771 7% +4% organic +2% net acquired +1% FX effects EBITA margin* 18.7% +80 bps EBIT margin* 17.4% +60 bps EBIT* MSEK 7,102 +11% EPS* SEK 4.24 +14%
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© ASSA ABLOY. All rights reserved 4 Emerging markets organic growth excl. China +6% 55 5 4 5 Share of sales, % Change in local currencies QTD 2026 vs. QTD 2025, % Organic change QTD 2026 vs. QTD 2025, % 7 4 3 2 1 1 2 2 31 7 4 6 2 0 Sales by region Jul-Sep 2026
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© ASSA ABLOY. All rights reserved 5 Highlights from around the world Project winNew product launch New product launch DoorBird expands its portfolio with the world's first IP video door station featuring integrated 4G/5G connectivity, for residential, commercial and hospitality projects. The portfolio offers flexible access options and support for projects of up to 3,000 units, simplifying installation and security. Entrance Systems expands swing-door portfolio with new door operator designed for interior applications, offering a streamlined solution for everyday use. The solution combines easy installation, smooth operation and low energy consumption, delivering reliable performance and enhanced user comfort. ASSA ABLOY has secured a MEUR 3 eCLIQ project with a German premium automotive manufacturer. The contract includes 15,000 cylinders and supports the customer's access management needs across its operations, with completion scheduled for 2026.
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© ASSA ABLOY. All rights reserved 6 70 000 80 000 90 000 100 000 110 000 120 000 130 000 140 000 150 000 160 000 -20 -15 -10 -5 0 5 10 15 20 25 30 2021 2022 2023 2024 2025 2026 Organic growth, % Acquired growth, % Sales in fixed currencies LTM, MSEK FX adjusted sales growth MSEK% Sales LTM* vs 2021 (adjusted for FX) +51%
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© ASSA ABLOY. All rights reserved 7 Operating margin 10% 11% 12% 13% 14% 15% 16% 17% 18% 19% 2021 2022 2023 2024 2025 2026 EBIT, % quarterly EBIT, % LTM EBITA, % LTM EBIT % target range EBIT %, LTM 16.7% EBITA %, LTM 17.8%
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© ASSA ABLOY. All rights reserved 8 Operating income 0 2 500 5 000 7 500 10 000 12 500 15 000 17 500 20 000 22 500 25 000 27 500 0 1 000 2 000 3 000 4 000 5 000 6 000 7 000 8 000 2021 2022 2023 2024 2025 2026 EBIT, quarterly EBIT, LTM MSEKMSEK EBIT LTM vs 2021 +81%EBIT >SEK 7bn for the first time
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© ASSA ABLOY. All rights reserved 9 The pipeline remains active • 3 acquisitions completed in Q3 • 11 acquisitions completed as of September 2026 – Representing annualized sales of MSEK 3,200 Acquisitions Grow the core Extend the core Service and distribution New technologies Acquisition targets
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© ASSA ABLOY. All rights reserved 10 Classic Brass • Strengthens position with architects and designers • Sales of MSEK ~155 in 2025 • Accretive to EPS from the start A US manufacturer of premium cabinet and door hardware
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© ASSA ABLOY. All rights reserved 11 PACLOCK • Adds expertise in delivering customized high security solutions • Sales of MSEK ~155 in 2025 • Accretive to EPS from the start A US padlock and security hardware manufacturer
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© ASSA ABLOY. All rights reserved 12 Organic sales +5% • Very strong sales growth in Central Europe • Good sales growth in MEIA and the Nordics • Small growth in South Europe • Stable growth in UK/Ireland Opening Solutions EMEIA 5% 7% 9% 11% 13% 15% 17% 19% 0 1 000 2 000 3 000 4 000 5 000 6 000 7 000 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Sales, MSEK EBIT*, % EBIT margin 15.8% (15.0%*) • Strong operating leverage (+110bps) driven by operational efficiencies, volume growth, and price/cost • FX -10bps • M&A -20bps Share of sales 16%
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© ASSA ABLOY. All rights reserved 13 Organic sales +6% • Strong sales growth in the North America Non-Residential segment • Good sales growth in Latin America and the North America Residential segment Opening Solutions Americas 29% 5% 7% 9% 11% 13% 15% 17% 19% 21% 0 2 000 4 000 6 000 8 000 10 000 12 000 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Sales, MSEK EBIT*, % EBIT margin 19.6% (18.5%*) • Excellent operating leverage (+140bps) driven by volume growth, price/cost, and strong operational efficiencies • FX +0bps • M&A -30bps Share of sales
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© ASSA ABLOY. All rights reserved 14 Organic sales -1% • Small sales growth in Pacific & Northeast Asia • Sales decline in Greater China & Southeast Asia Opening Solutions APAC 5% EBIT margin 9.8% (10.2%*) • Stable operating leverage (+0 bps) despite negative volume, driven by positive mix, price/cost and operational efficiencies • FX -20bps • M&A -20bps • Internal transfer from Americas 0% 2% 4% 6% 8% 10% 12% 0 500 1 000 1 500 2 000 2 500 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Sales, MSEK EBIT*, % Share of sales
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© ASSA ABLOY. All rights reserved 15 Global Technologies 17% Organic sales +4% • Strong sales growth in HID • Good sales growth in Global Solutions EBIT margin 20.0% (19.8%*) • Excellent operating leverage (+80 bps) driven by positive mix, price/cost and operational efficiencies • FX -30bps • M&A -30bps 0% 5% 10% 15% 20% 25% 0 1 000 2 000 3 000 4 000 5 000 6 000 7 000 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Sales, MSEK EBIT*, % Share of sales
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© ASSA ABLOY. All rights reserved 16 Organic sales +3% • Strong sales growth in Pedestrian and Perimeter Security • Small sales growth in Doors & Automation • Decline in Industrial • Good growth in service Entrance Systems 33% EBIT margin 17.1% (17.4%*) • Strong operating leverage (+40 bps) driven by positive mix, price/cost and operational efficiencies • FX +0bps • M&A -70bps • Sentinel and acquisitions costs for Gunnebo Entrance Control 0% 5% 10% 15% 20% 25% 0 2 000 4 000 6 000 8 000 10 000 12 000 14 000 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Sales, MSEK EBIT*, % Share of sales
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© ASSA ABLOY. All rights reserved 17 Financial summary July – September * MSEK 2025 2026 Change Sales 38,146 40,771 7% - Organic growth 1,119 1,428 4% - Acquired net growth 1,853 935 2% - FX-differences -2,243 262 1% EBIT 6,416 7,102 11% EBITA, % 17.9% 18.7% +80 bps EBIT, % 16.8% 17.4% +60 bps Income before tax 5,563 6,333 14% Net income 4,144 4,718 14% EPS, SEK 3.73 4.24 14% January-September* FX & acquisition ‘run-rate’ effects on sales in Q4 2026 (30 Sep 2026): FX: 5% M&A: 2% January-September * 2025 2026 Change 114,102 115,781 1% 2,671 3,568 3% 5,417 2,623 2% -4,572 -4,512 -4% 18,216 19,242 6% 17.0% 17.8% +80 bps 16.0% 16.6% +60 bps 15,648 17,018 9% 11,658 12,678 9% 10.49 11.41 9% Operating cash flow 6,969 7,405 6% ROCE, % 12 months OVA, 12 months 14,845 16,847 +13% 14.2% 14.9% +70 bps 10,817 11,871 10% Operational Value Added (OVA) = EBIT – WACC x Capital Employed (including goodwill)
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© ASSA ABLOY. All rights reserved 18 Margin drivers • Organic – excellent operating leverage from price/cost, MFP, and operational efficiencies, • M&A – transaction and integration costs for recent and ongoing acquisitions Sales drivers • Organic – Price +2% and volume +2% • Currency – weaker SEK • M&A – small carryover effect from 2025 and eleven acquisitions in 2026 MSEK Q3 2025 Organic Currency Q3 2026 ex acq/div Acq/div Q3 2026 Growth 2% 4% 1% 5% 2% 7% Sales 38,146 1,428 262 39,837 935 40,771 EBIT* 6,416 672 2 7,090 11 7,102 EBIT, %* 16.8% 47.0% 0.8% 17.8% 1.2% 17.4% Dilution/accretion +1.1 pts -0.1 pts -0.4 pts Bridge analysis Q3 2026
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© ASSA ABLOY. All rights reserved 19 Direct material Price realization andsourcing initiatives Conversion cost Operating efficiencies S, G & A Investments in R&Dand sellingcosts offset by efficiencies in administrative expenses including results from first AI initiatives Cost breakdown as % of sales – Q3 2026 % QTD 2025 QTD 2026 excl. acq/div Δ QTD 2026 Direct material -33.0% -32.2% +0.8 pts -32.3% Conversion cost -23.9% -23.7% +0.2 pts -23.9% Gross margin 43.1% 44.1% +1.0 pts 43.8% S, G & A -26.3% -26.3% 0.0 pts -26.4% EBIT margin* 16.8% 17.8% +1.0 pts 17.4%
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© ASSA ABLOY. All rights reserved 20 0 2 500 5 000 7 500 10 000 12 500 15 000 17 500 20 000 22 500 25 000 0 1 000 2 000 3 000 4 000 5 000 6 000 7 000 8 000 9 000 2021 2022 2023 2024 2025 2026 Operating cash flow, quarterly Operating cash flow, LTM EBT*, LTM Operating cash flow MSEK MSEK Operating cash flow, LTM Cash conversion, LTM 109% Operating cash flow, LTM SEK 25 bn
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© ASSA ABLOY. All rights reserved 21 0% 10% 20% 30% 40% 50% 60% 70% 80% 0 10 000 20 000 30 000 40 000 50 000 60 000 70 000 80 000 2021 2022 2023 2024 2025 2026 Net debt, MSEK Gearing, % Gearing % and net debt, MSEK MSEK 54% Net debt/Equity 2.0 Net debt/EBITDA* 30 Sep 2025 Operating activities Investing activities Tax Dividend FX Other 30 Sep 2026 66 681 -24,072 7,608 4,132 6,841 3,435 -413 64,212 Change in net debt, MSEK
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© ASSA ABLOY. All rights reserved 22 0 2 4 6 8 10 12 14 16 18 0,0 0,5 1,0 1,5 2,0 2,5 3,0 3,5 4,0 4,5 2021 2022 2023 2024 2025 2026 EPS*, quarterly EPS*, LTM Earnings per share LTM, SEKQuarterly, SEK Dividend % of EPS* since 2021 42% Total dividend paid since 2021 SEK 30 bn FY EPS* CAGR since 2021 10%
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© ASSA ABLOY. All rights reserved Good organic sales development of 4% Record operating profit and margin Strong cash flow improvement • Up by 6% versus last year MFP11 to be launched in Q4 “We are proud of what we have accomplished in the first nine months and are confident in our ability to deliver another strong year.“ Nico Delvaux, Q3 report 2026 Conclusions
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ASSA ABLOY is the global leader in access solutions. Every day we help people feel safe, secure and experience a more open world. © ASSA ABLOY. All rights reserved Q&A
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© ASSA ABLOY. All rights reserved Appendix
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© ASSA ABLOY. All rights reserved 26 MSEK Q3 2025 Organic Currency Q3 2026 ex acq/div Acq/Div Q3 2026 Growth 5% 5% 0% 5% 1% 6% Sales 6,325 298 15 6,638 89 6,727 EBIT* 951 117 -9 1,059 3 1,062 EBIT, %* 15.0% 39.3% -61.3% 16.0% 3.2% 15.8% Dilution/accretion +1.1 pts -0.1 pts -0.2 pts 12 months figures Q3 2025 Q3 2026 Sales 25,637 26,592 EBIT* 3,693 4,147 Operating cash flow 3,957 4,501 Cash flow/EBIT* 107% 109% Opening Solutions EMEIA’s bridge * Excluding items affecting comparability.
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© ASSA ABLOY. All rights reserved 27 MSEK Q3 2025 Organic Currency Q3 2026 ex acq/div Acq/Div Q3 2026 Growth -3% 6% 1% 7% 2% 9% Sales 10,840 680 110 11,631 201 11,831 EBIT* 2,003 284 17 2,304 10 2,314 EBIT, %* 18.5% 41.7% 15.6% 19.8% 5.0% 19.6% Dilution/accretion +1.4pts 0.0 pts -0.3 pts 12 months figures Q3 2025 Q3 2026 Sales 44,209 43 962 EBIT* 7,949 8,164 Operating cash flow 7,926 10,720 Cash flow/EBIT* 100% 131% Opening Solutions Americas’ bridge * Excluding items affecting comparability.
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© ASSA ABLOY. All rights reserved 28 MSEK Q3 2025 Organic Currency Q3 2026 ex acq/div Acq/Div Q3 2026 Growth -13% -1% 3% 2% 2% 4% Sales 2,119 -22 68 2,165 49 2,214 EBIT* 217 -2 0 215 1 217 EBIT, %* 10.2% 8.5% 0.4% 9.9% 2.5% 9.8% Dilution/accretion 0.0 pts -0.2 pts -0.2 pts 12 months figures Q3 2025 Q3 2026 Sales 8,469 7,922 EBIT* 627 640 Operating cash flow 831 498 Cash flow/EBIT* 133% 78% Opening Solutions APAC’s bridge * Excluding items affecting comparability.
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© ASSA ABLOY. All rights reserved 29 MSEK Q3 2025 Organic Currency Q3 2026 ex acq/div Acq/Div Q3 2026 Growth 7% 4% 1% 5% 1% 6% Sales 6,729 267 31 7,027 77 7,104 EBIT* 1,330 107 -9 1,428 -7 1,421 EBIT, %* 19.8% 40.1% -28.0% 20.3% -9.2% 20.0% Dilution/accretion +0.8 pts -0.3 pts -0.3 pts 12 months figures Q3 2025 Q3 2026 Sales 25,807 26,445 EBIT* 4,607 4,919 Operating cash flow 5,365 5,310 Cash flow/EBIT* 116% 108% Global Technologies’ bridge * Excluding items affecting comparability.
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© ASSA ABLOY. All rights reserved 30 MSEK Q3 2025 Organic Currency Q2 2026 ex acq/div Acq/Div Q3 2026 Growth 5% 3% 0% 3% 4% 7% Sales 12,595 342 47 12 983 519 13,502 EBIT* 2,187 109 2 2,298 4 2,302 EBIT, %* 17.4% 31.8% 4.7% 17.7% 0.8% 17.1% Dilution/accretion 0.4 pts 0.0 pts -0.7 pts 12 months figures Q3 2025 Q3 2026 Sales 51,424 51,285 EBIT* 8,763 8,709 Operating cash flow 8,879 7,410 Cash flow/EBIT* 101% 85% Entrance Systems’ bridge * Excluding items affecting comparability.
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© ASSA ABLOY. All rights reserved 31 Cost breakdown as % of sales % QTD 2025 QTD 2026 excl. acquisitions Δ QTD 2026 Direct material -33.0% -32.2% +0.8 pts -32.3% Conversion cost -23.9% -23.7% +0.2 pts -23.9% Gross margin 43.1% 44.1% +1.0 pts 43.8% S, G & A -26.3% -26.3% 0.0 pts -26.4% EBIT* 16.8% 17.8% +1.0 pts 17.4% % YTD 2025 YTD 2026 excl. acquisitions Δ YTD 2026 Direct material -32.8% -32.1% +0.7 pts -32.3% Conversion cost -24.3% -24.3% 0.0 pts -24.3% Gross margin 42.9% 43.6% +0.7 pts 43.4% S, G & A -26.9% -26.8% +0.1 pts -26.8% EBIT* 16.0% 16.8% +0.8 pts 16.6% * Excluding items affecting comparability.
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ASSA ABLOY is the global leader in access solutions. Every day we help people feel safe, secure and experience a more open world. © ASSA ABLOY. All rights reserved Thank you