Interim report
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Amounts in SEK million Jul–Sep 2026 Jul–Sep 2025 Jan–Sep 2026 Jan–Sep 2025 Oct 2025 –Sep 2026 J a n – D e c 2025 Net sales 7 ,027 6,433 21,701 20,295 29,614 28,208 Operating profit (EBIT) 460 342 1,354 1,027 1,996 1,668 Operating margin (EBIT), % 6.5 5.3 6.2 5.1 6.7 5.9 EBITA 460 342 1,355 1,027 1,996 1,668 EBITA margin, % 6.5 5.3 6.2 5.1 6.7 5.9 Profit/loss after tax 347 245 1,016 742 1,509 1,234 Cash flow from operating activities 800 -111 1,250 292 2,411 1,453 Cash conversion, 12 m, % 110 63 110 63 110 79 Net debt/EBITDA, 12 m, times 1.0 1.5 1.0 1.5 1.0 1.1 Order intake 10,317 5,997 30,244 21,929 37 ,244 28,929 Order backlog, only installation projects 24,216 16,381 24,216 16,381 24,216 15,325 Interim Report � Net sales increased by 9 (-2) percent to SEK 7 ,027 (6,433) million, with organic growth being 9 (-3) percent � The order intake increased by 72 (5) percent, to SEK 10,317 (5,997) million � EBITA increased by 34 (17) percent, to SEK 460 (342) million, with a negative impact of SEK 8 million from non-recurring items � The EBITA margin increased to 6.5 (5.3) percent; the margin amounted to 6.7 (5.3) percent when adjusted for non-recurring items � Profit after tax increased by 42 (22) percent, to SEK 347 (245) million � Cash flow from operating activities was SEK 800 (-111) million � Basic and diluted earnings per share were SEK 1.70 (1.19) July–September 2026 July–September 2026 � Net sales increased by 7 (-6) percent to SEK 21,701 (20,295) million, with organic growth being 7 (-6) percent � The order backlog increased by 48 (-1) percent, to SEK 24,216 (16,381) million � EBITA increased by 32 (10) percent, to SEK 1,355 (1,027) million, with a positive impact of SEK 90 million from non-recurring items � The EBITA margin increased to 6.2 (5.1) percent; the margin amounted to 5.8 (5.1) percent when adjusted for non-recurring items � Profit after tax increased by 37 (16) percent, to SEK 1,016 (742) million � Cash flow from operating activities increased to SEK 1,250 (292) million � Net debt amounted to SEK -2,564 (-3,469) million � Basic earnings per share amounted to SEK 4.97 (3.61) and diluted earnings per share were SEK 4.96 (3.61) January–September 2026
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2 BRAVIDA INTERIM REPORT JULY – SEPTEMBER 2026 Improved profitability and all-time high order backlog in a growing market I am pleased to be able to report that the increased activity seen during the year is now also being reflected in the form of signed contracts and a all-time high order backlog. Our strategy has for a long time been to work continuously on project selection, and we now see that our strong order backlog has the right margin expectations. We are thus well-posi - tioned for continued growth and gradually improving profitability as we convert our order backlog into production. During the third quarter, the order intake increased by 72 percent, to SEK 10,317 million, and the order backlog reached a record high of SEK 24,216 million, which is an increase of 48 percent compared to the previous year. We also report organic growth of 9 percent and an increase in net sales to SEK 7 ,027 million. In addition to this, we have improved our profitability in all markets. The main reasons for this are a combination of generally higher volumes, the ongoing transformation in Denmark, and a focus on project implementation and operational efficiency right across the business. The restructuring efforts that have been carried out in Sweden have further enhanced the organisation, and although some work still remains to be done before we are in the position in which we want to be, we are now better placed for a broad market recovery. I can report that our installation operations have benefited from good demand for small and medium-sized projects as well as larger, more advanced projects such as data centres, infrastructure and defence facilities. This is despite the fact that demand in certain areas remains weak, for example new construction in Norway and the somewhat hesitant market in parts of southern Sweden. At the same time, our service operations have continued to experience high growth. This has been driven by Sweden and Norway in particular, but there has been good development in all countries. Scope and flexibility for investments Cash flow from operating activities amounted to SEK 800 million during the third quarter, and cash conversion for the rolling twelve months was 110 percent. The cash flow will continue to fluctuate depending on seasonal variations and the timing of payments relating to larger projects. Together with net debt in relation to EBITDA of 1.0 times, the strong balance sheet gives us the flexibility and capacity to both invest in the business and carry out value-creating acquisitions. During the quarter, we also completed one acquisition, Åslunds El, which strengthens our position in Stockholm and Uppsala. However, we are continually identifying and evaluating potential complementary acquisitions. At the same time, as part of our capital allocation we are implementing the buyback programme that was decided by the Board in order to create long-term value for our shareholders. Stable platform for growth Our sales growth, together with a continued focus on efficient production, has contributed to us improving our margin, and EBITA increased by 34 percent, to SEK 460 million. The EBITA margin improved by 1.2 percentage points, to 6.5 percent. As a decentralised company, but with the economies of scale of a large company, small and medium-sized projects are managed by our local units. At the same time, for large, more advanced projects, such as the expansive data centre and infrastructure projects, we work with integrated management and as a unified organisation. I am convinced that this provides us with a well-balanced and stable platform for ensuring good growth going forwards. An industry with future-proof professions During 2026, we at Bravida have really positioned ourselves as a strong and reliable partner in large, advanced projects and I am very proud of this. Data centres are – and have been for more than 10 years – an important area in which our wide-ranging technical competence, local presence and experience in carrying out large and advanced projects give us a strong position. The projects have high demands regarding coordination and delivery reliability. This is very suited to Bravida’s integrated range of services and well-established working methods. We have gone from being a company that delivers electrical, heating, plumbing and ventilation solutions for office buildings to being an integral part of the ongoing transition in society. The fact that our industry, and the professional roles in it, are such important parts of society's transformation also means that we will need a significant workforce in the future. I would therefore like to tell all young people that training to become an electrician or a heating and plumbing technician means stepping into a future-proof profession. Well positioned for achieving long-term shareholder value As we now close the accounts on the third quarter, I can once again conclude that the digitalisation and electrification of society, along with increased investment in infrastructure, power supply and defence, are creating attractive long-term opportu- nities for Bravida. I believe that we at Bravida are well positioned to meet the growing demand, because we are continually enhancing our working methods, focusing on our sustainability work, strength- ening the organisation and ensuring that we have the right competence and capacity in the business. As a result of our close cooperation with clients and suppliers, carefully balanced resource planning and clearly defined contractual terms, we also put in place the right conditions to continue delivering with a high level of quality. Taken together, all of this combined provides us with a stable foundation for achieving long-term sustainable and profitable growth. With a well-filled order backlog, a strong financial position and an even more efficient organisational structure, I feel confident that Bravida remains in an excellent position to grow profitably and gradually strengthen its margins, thereby creating long-term shareholder value. Mattias Johansson, CEO and Group President
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3 BRAVIDA INTERIM REPORT JULY – SEPTEMBER 2026 FINANCIAL OVERVIEW FINANCIAL OVERVIEW Nordic market outlook As specialists in technical systems and advanced projects, Bravida offers services through the entire value chain – from design and project management to installation, service and aftersales. Our services are closely linked to the development of society and its long-term investment needs. Ongoing geopolitical uncertainty is expected to encourage investment in infrastructure and defence, while an aging population is leading to increasing needs in the area of healthcare. In addition, developments in AI, digitalisation and energy efficiency are accelerating as a result of the sustainabil- ity transition in society. The housing market is expected to be characterised by continued weak levels of new production. In general, Bravida’s markets are expected to grow gradually over the coming years. Particularly strong demand is expected in the areas of data centres, defence facilities, hospitals and care properties, transport infrastructure, and electrification and digitalisation projects. Net sales July–September 2026 Net sales increased during the third quarter of 2026 by 9 (-2) percent and amounted to SEK 7 ,027 (6,433) million, of which organic growth was 9 (-3) percent. Acquisition-related growth amounted to -1 (3) percent, with the divestment of ABEKA offsetting acquisition-driven growth during the quarter. The currency effect was 1 (-2) percent. Net sales increased in all countries. Net installation sales increased by 10 (0) percent and net service sales increased by 8 (-4) percent. Installation activities accounted for 53 (52) percent of total net sales. January–September 2026 Net sales increased during 2026 by 7 (-6) percent and amounted to SEK 21,701 (20,295) million, of which organic growth was 7 (-6) percent. Acquisitions had a marginal impact of 0 (2) percent on net sales, with the divestment of ABEKA somewhat offsetting acquisition-driven growth during the period. Currency effects had a negative impact of 0 (-2) percent. Net installation sales increased by 9 (-7) percent and net service sales increased by 5 (-4) percent. Installation activities accounted for 52 (51) percent of total net sales. Earnings July–September 2026 EBITA increased by 34 (17) percent and amounted to SEK 460 (342) million, with an associated EBITA margin of 6.5 (5.3) percent. EBITA across all business segments is stable and gradually recovering as a result of volume growth, a well- balanced production capacity and ongoing improvements in the cost structure. Group-wide earnings were SEK 6 (-4) million. Net financial items amounted to SEK -19 (-31) million, as a result of low borrowing. Profit after financial items was SEK 441 (311) million. Profit after tax was SEK 347 (245) million. Basic and diluted earnings per share increased by 43 percent, to SEK 1.70 (1.19). January–September 2026 EBITA increased by 32 (10) percent and amounted to SEK 1,355 (1,027) million, with an associated EBITA margin of 6.2 (5.1) percent. EBITA across all business segments is stable and gradually recovering as a result of volume growth, a well- balanced production capacity and ongoing improvements in the cost structure. EBITA for the period was positively affected by SEK 158 million relating to the divestment of the company ABEKA at the start of the second quarter of 2026, and impacted negatively by SEK -68 million due to restructuring costs related to the Swedish operations. Excluding these items, the EBITA margin was 5.8 percent. Group-wide profit amounted to SEK 170 (1) million, with the increase resulting from capital gains from the divestment of the company ABEKA. Net financial items amounted to SEK -64 (-84) million, as a result of low borrowing. Profit after financial items was SEK 1,290 (943) million. Profit after tax was SEK 1,016 (742) million. Basic earnings per share increased by 38 percent, to SEK 4.97 (3.61), and diluted earnings per share increased to SEK 4.96 (3.61). Net sales (SEK million) /uni0030 /uni0032/uni0020/uni0030/uni0030/uni0030 /uni0034/uni0020/uni0030/uni0030/uni0030 /uni0036/uni0020/uni0030/uni0030/uni0030 /uni0038/uni0020/uni0030/uni0030/uni0030 /uni0031/uni0030/uni0020/uni0030/uni0030/uni0030 /uni0032/uni0030/uni0020/uni0030/uni0030/uni0030 /uni0032/uni0032/uni0020/uni0030/uni0030/uni0030 /uni0032/uni0034/uni0020/uni0030/uni0030/uni0030 /uni0032/uni0036/uni0020/uni0030/uni0030/uni0030 /uni0032/uni0038/uni0020/uni0030/uni0030/uni0030 /uni0033/uni0030/uni0020/uni0030/uni0030/uni0030 /uni0032/uni0034/uni0030/uni0039/uni0032/uni0034/uni0031/uni0032/uni0032/uni0035/uni0030/uni0033/uni0032/uni0035/uni0030/uni0036/uni0032/uni0035/uni0030/uni0039/uni0032/uni0035/uni0031/uni0032/uni0032/uni0036/uni0030/uni0033/uni0032/uni0036/uni0030/uni0036/uni0032/uni0036/uni0030/uni0039 Net sales by quarter Net sales, rolling 12 months Order intake (SEK million) /uni0030 /uni0033/uni0020/uni0030/uni0030/uni0030 /uni0036/uni0020/uni0030/uni0030/uni0030 /uni0039/uni0020/uni0030/uni0030/uni0030 /uni0031/uni0032/uni0020/uni0030/uni0030/uni0030 /uni0031/uni0035/uni0020/uni0030/uni0030/uni0030 /uni0031/uni0035/uni0020/uni0030/uni0030/uni0030 /uni0032/uni0030/uni0020/uni0030/uni0030/uni0030 /uni0032/uni0035/uni0020/uni0030/uni0030/uni0030 /uni0033/uni0030/uni0020/uni0030/uni0030/uni0030 /uni0033/uni0035/uni0020/uni0030/uni0030/uni0030 /uni0034/uni0030/uni0020/uni0030/uni0030/uni0030 /uni0032/uni0034/uni0030/uni0039/uni0032/uni0034/uni0031/uni0032/uni0032/uni0035/uni0030/uni0033/uni0032/uni0035/uni0030/uni0036/uni0032/uni0035/uni0030/uni0039/uni0032/uni0035/uni0031/uni0032/uni0032/uni0036/uni0030/uni0033/uni0032/uni0036/uni0030/uni0036/uni0032/uni0036/uni0030/uni0039 Order intake by quarter Order intake, rolling 12 months Net sales by country, Q3 2026 43% Sweden 27% Denmark 20% Norway 10% Finland Consolidated earnings overview
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4 BRAVIDA INTERIM REPORT JULY – SEPTEMBER 2026 FINANCIAL OVERVIEW FINANCIAL OVERVIEW Order intake and order backlog July–September 2026 The order intake increased by 72 (5) percent, to SEK 10,317 (5,997) million. The order intake increased significantly in Finland and Sweden during the quarter, with contracts being signed for installation assignments for data centres with respective order values of SEK 2,200 million and SEK 1,500 million. January–September 2026 The order intake increased by 38 (4) percent, to SEK 30,244 (21,929) million. The order intake shows steady growth, with the significant order intakes in Norway, Finland and Sweden regarding data centres standing out in particular. The order backlog increased by 48 (-1) percent, to SEK 24,216 (16,381) million. The divestment of ABEKA decreased the order backlog by SEK -564 million. In a period-to-period comparison with the previous year, the effect of the divestment was SEK -517 million. The order backlog only includes installation projects. Depreciation Depreciation in the quarter amounted to SEK -163 (-154) million, of which SEK -144 (-137) million related to depreciation of right-of-use assets. Depreciation in the January–September period totalled SEK -488 (-467) million, of which SEK -431 (-417) million related to depreciation of right-of-use assets. Tax The tax expense for the quarter was SEK -94 (-67) million. Profit before tax was SEK 441 (311) million. Tax paid totalled SEK -69 (-81) million. The tax expense for the January–September period was SEK -274 (-201) million. Profit before tax was SEK 1,290 (943) million. Tax paid totalled SEK -246 (-333) million. Cash flow July–September 2026 Cash flow from operating activities was SEK 800 (-111) million. Cash flow from operating activities before changes in working capital was SEK 527 (418) million. Changes in working capital amounted to SEK 273 (-529) million. In a period-to-period comparison, the development of the working capital mainly results from a positive change in the net between contract assets and contract liabilities, as well as an increase in trade receivables and a decrease in trade payables. Cash flow from investing activities amounted to SEK -28 (-130) million, which is net of divestments and acquisitions of subsidiaries. Cash flow from financing activities was SEK -665 (530) million. Cash flow for the quarter was SEK 107 (289) million. Cash conversion on a 12-month basis was 110 (63) percent. The outcome for cash conversion can vary on a quarterly basis due to cash flow from major projects. January–September 2026 Cash flow from operating activities was SEK 1,250 (292) million. Cash flow from operating activities before changes in working capital was SEK 1,387 (1,139) million. Changes in working capital amounted to SEK -136 (-847) million. The development of the working capital mainly results from a positive change in the net between contract assets and contract liabilities, as well as an increase in trade receivables and an increase in trade payables and other liabilities. Cash flow from investing activities amounted to SEK 7 (-324) million, which is net of divestments and acquisitions of subsidiaries. Cash flow from financing activities was SEK -1,425 (-227) million, including dividends of -777 (-767) million. Cash flow for the period was SEK -167 (-259) million. Acquisitions and divestments During the third quarter, one acquisition was completed in Sweden, adding annual sales of approximately SEK 56 million. During the second quarter, the company ABEKA El och Kraftanläggningar AB (ABEKA) was divested, as its operations are not in line with Bravida's core business operations. ABEKA's sales for 2025 amounted to SEK 472 million and its EBITA was SEK 36 million. For further information, see Note 3. Financial position Net debt was SEK -2,564 (-3,469) million, which resulted in net debt/EBITDA of 1.0 (1.5) times. Consolidated cash and cash equivalents amounted to SEK 965 (616) million. Interest-bearing liabilities totalled SEK -3,529 (-4,085) million, of which leasing amounted to SEK -1,449 (-1,394) million. Total credit facilities were SEK 2,500 (2,500) million, of which SEK 2,500 (2,500) million was unused on 30 September 2026. At the end of the period, equity totalled SEK 9,571 (8,701) million. The equity/ assets ratio was 39.7 (37 .0) percent. Employees The average number of employees changed by -1 (-5) percent, to 13,137 (13,238). Parent company Revenue for the third quarter was SEK 63 (56) million and earn - ings after net financial items were SEK -30 (-26) million. Revenue during the first nine months period 2026 was SEK 192 (180) million and earnings after net financial items were SEK -83 (-102) million. Net sales and growth Amounts in SEK million Jul–Sep 2026 Jul–Sep 2025 Jan–Sep 2026 Jan–Sep 2025 Jan–Dec 2025 Net sales 7 ,027 6,433 21,701 20,295 28,208 Change 594 -142 1,406 -1,249 -1,444 Total growth, % 9 -2 7 -6 -5 Of which Organic growth, % 9 -3 7 -6 -5 Acquisition-based growth, % -1 3 0 2 2 Currency effects, % 1 -2 0 -2 -2
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5 BRAVIDA INTERIM REPORT JULY – SEPTEMBER 2026 FINANCIAL OVERVIEW FINANCIAL OVERVIEW Significant risks A volatile global situation, financial unease and political decisions are factors that affect demand for Bravida's installa- tion services. The demand for service and maintenance work is influenced to a lesser extent by economic fluctuations. Operating risks relate to day-to-day operations such as tendering, price risks, capacity utilisation and revenue recogni- tion. The management of these risks is part of Bravida’s business process. Revenue is recognised over time based on each project’s stage of completion and forecast final outcome. A well-developed process for monitoring projects is essential for limiting the risk of incorrect revenue recognition. Bravida continually monitors the financial status of each project to ensure that individual project calculations are not exceeded. The Group is also exposed to write-down risks in fixed-price contracts and various types of financial risk such as currency, interest rate and credit risks. Transactions with related parties During the third quarter of 2026, the parent company invoiced SEK 63 (56) million to the subsidiaries, and the figure for the period January–September 2026 was SEK 192 (180) million. Other related parties include the Board of Directors and Group Management, as well as their families and the companies they control. Apart from ordinary board fees paid to members of the Board of Directors, there were no other significant transactions with related parties during the quarter or during the period January–September. Shares and ownership structure Bravida has been listed on Nasdaq Stockholm (Large Cap) since 2015, with the ticker BRAV . The company's share capital amounts to approximately SEK 4.1 million, divided into ordinary shares (ISIN:SE0007491303) and non-listed class C shares. Ordinary shares entitle holders to one vote and a dividend payment, while class C shares entitle holders to one-tenth of a vote and no dividend. At the end of the period, the number of shares amounted to 207 ,126,598 shares, consisting of 204,756,409 ordinary shares and 2,370,189 class C shares, and a total of 204,993,428 votes. As at 30 September 2026, the ownership of the five largest shareholders amounted to 33.77 percent in terms of the number of votes. No shareholder has a holding of more than ten percent in Bravida. As at 30 September 2026, Swedish institutional owners held 38.74 percent and foreign institutional owners held 42.59 percent in terms of the number of votes. The price of an ordinary share on 30 September 2026 was SEK 151.00 (91.75), giving a market capitalisation of SEK 30,918 (18,077) million, based on the number of ordinary shares. Total shareholder return over the past 12-month period as of 30 September 2026 was 73.7 (23.9) percent. Repurchase of own ordinary shares Based on the authorisation granted by the 2026 Annual General Meeting, the Board of Directors has decided to implement a share buyback programme. The aim of the programmes is to optimise the company's capital structure and contribute to increased shareholder value. The first programme was decided on 4 May and ran from 8 May to 9 July. Under the programme, Bravida repurchased 863,100 of its own ordinary shares at an average price of SEK 115.85, for a total sum of approximately SEK 100 million. On 13 July, Bravida's Board of Directors decided to initiate another programme for the repurchasing of ordinary shares, for a maximum sum of SEK 100 million. The programme has been running during the period from 13 August to 19 October 2026. During the period from 13 August to 30 September 2026, a total of 542,555 ordinary shares were repurchased, for a total sum of SEK 76 million. As a result of these repurchases, Bravida holds 1,418,569 of its own ordinary shares and 2,370,189 of its own class C shares as of 30 September 2026. After the balance sheet date, Bravida has repurchased an additional 162,645 ordinary shares. A total of 705,200 ordinary shares have thus been repurchased within the framework of the repurchase programme, at an average purchase price of SEK 141.79 per share, corresponding to a total repurchase amount of SEK 100 million. As of 19 October 2026, Bravida's holding of own shares amounted to 1,581,214 ordinary shares and 2,370,189 class C shares. Events occurring during the period January – September 2026 – A new Swedish organisation came into effect on 1 January 2026. This change has impacted earnings as a result of restructuring costs of approximately SEK 90 million, with SEK -20 million impacting profit for the fourth quarter of 2025 and SEK -68 million impacting the period January – September 2026. – On 1 April 2026, ABEKA El och Kraftanläggningar AB (ABEKA) was divested, as the company’s operations are not in line with Bravida's core business. ABEKA's sales for 2025 amounted to SEK 472 million and its EBITA was SEK 36 million. The divestment had a positive impact of SEK 158 million on second-quarter earnings and of SEK 208 million on cash flow. – On 8 June 2026, Bravida was awarded an installation contract with an order value equivalent to just over SEK 4.3 billion. The contract includes project management, design and all the technical installations for a new data centre that is being built outside Stavanger. – On 8 June 2026, the District Court in Rogaland, Norway, issued a ruling in the dispute between Bravida and New Stavanger University Hospital regarding unpaid receivables. The outcome was largely in Bravida’s favor. The ruling was appealed by the counterparty to a higher court at the beginning of September 2026. – On 8 July, Bravida in Sweden signed a contract with EcoDataCenter regarding installation assignments with an order value of SEK 650 million. – On 10 July, Bravida signed a contract as the main contractor to perform all the installation work for atNorth's data centre in Kouvola, Finland, with an order value of approximately SEK 2.2 billion. – On 26 August, Bravida signed a contract to perform extensive installation work in a data centre in the Mälardalen region with an order value of approximately SEK 850 million. Bravida's assignment includes installations relating to electrics, heating and plumbing, ventilation and sprinklers. – On 1 September, Bravida Sweden acquired Åslunds El AB, thereby strengthening its range of electrics services in Stockholm and Uppsala. Åslunds El had sales of approxi- mately SEK 56 million in the previous financial year 2025 and has 29 employees. Significant events since the end of the period Bravida’s Board of Directors has decided to conduct an additional share buyback programme for a maximum of SEK 100 million, which will run until the next reporting date.
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6 BRAVIDA INTERIM REPORT JULY – SEPTEMBER 2026 FINANCIAL OVERVIEW FINANCIAL OVERVIEW Financial and sustainability targets Financial targets Outcome 30/09/2026 Outcome 30/09/2025 Outcome 31/12/2025 Target Sales growth, R12 m, % 4 -4 -5 > 5 EBITA margin, R12 m, % 6.7 5.3 5.9 > 7 Cash conversion, R12 m, % 110 63 79 > 100 Net debt/EBITDA, R12 m, times 1.0 1.5 1.1 < 2.5 Dividend, % 63 73 63 > 50 Sustainability targets Outcome 30/09/2026 Outcome 30/09/2025 Outcome 31/12/2025 Target L TIFR, R12 m 4.9 5.0 4.9 < 5.5 Change in CO 2e emissions Scope 1* , R12 m compared to baseline year, % -33 -20 -26 42% reduction in Scope 1 by 2029 compared to baseline year 2023 Change in CO 2e emissions Scope 1* , R12 m compared to previous year, % -16 -15 -18 KPI to compare development from previous year Change in tonnes CO 2e Scope 1*/net sales, R12 m, % -34 -17 -23 KPI to compare development in relation to net sales, compared to baseline year 2023 Proportion of electric vehicles in the Group's overall vehicle fleet, R12 m, % 51 42 45 57% electric vehicles by 2029 * Historical data has been restated in order to be compliant with Bravida's SBTi targets and as a result of updated emission factors and a baseline year recalculation in accordance with SBTi’s guidelines, which means that the stated historical figures differ from those in previously published interim reports. EBITA (SEK million) /uni0030 /uni0031/uni0030/uni0030 /uni0032/uni0030/uni0030 /uni0033/uni0030/uni0030 /uni0034/uni0030/uni0030 /uni0035/uni0030/uni0030 /uni0036/uni0030/uni0030 /uni0037/uni0030/uni0030 /uni0030 /uni0033/uni0030/uni0030 /uni0036/uni0030/uni0030 /uni0039/uni0030/uni0030 /uni0031/uni0020/uni0032/uni0030/uni0030 /uni0031/uni0020/uni0035/uni0030/uni0030 /uni0031/uni0020/uni0038/uni0030/uni0030 /uni0032/uni0020/uni0031/uni0030/uni0030 /uni0032/uni0034/uni0030/uni0039/uni0032/uni0034/uni0031/uni0032/uni0032/uni0035/uni0030/uni0033/uni0032/uni0035/uni0030/uni0036/uni0032/uni0035/uni0030/uni0039/uni0032/uni0035/uni0031/uni0032/uni0032/uni0036/uni0030/uni0033/uni0032/uni0036/uni0030/uni0036/uni0032/uni0036/uni0030/uni0039 EBITA by quarter EBITA, rolling 12 months EBITA margin, % /uni0030/uni002C/uni0030 /uni0031/uni002C/uni0030 /uni0032/uni002C/uni0030 /uni0033/uni002C/uni0030 /uni0034/uni002C/uni0030 /uni0035/uni002C/uni0030 /uni0036/uni002C/uni0030 /uni0037/uni002C/uni0030 /uni0038/uni002C/uni0030 /uni0039/uni002C/uni0030 /uni0032/uni0034/uni0030/uni0039/uni0032/uni0034/uni0031/uni0032/uni0032/uni0035/uni0030/uni0033/uni0032/uni0035/uni0030/uni0036/uni0032/uni0035/uni0030/uni0039/uni0032/uni0035/uni0031/uni0032/uni0032/uni0036/uni0030/uni0033/uni0032/uni0036/uni0030/uni0036/uni0032/uni0036/uni0030/uni0039 EBITA margin per quarter EBITA margin, rolling 12 months Cash flow from operating activities (SEK million) /uni002D.case/uni0033/uni0030/uni0030 /uni0030 /uni0033/uni0030/uni0030 /uni0036/uni0030/uni0030 /uni0039/uni0030/uni0030 /uni0031/uni0020/uni0032/uni0030/uni0030 /uni0031/uni0020/uni0035/uni0030/uni0030 /uni002D.case/uni0033/uni0030/uni0030 /uni0032/uni0030/uni0030 /uni0037/uni0030/uni0030 /uni0031/uni0020/uni0032/uni0030/uni0030 /uni0031/uni0020/uni0037/uni0030/uni0030 /uni0032/uni0020/uni0032/uni0030/uni0030 /uni0032/uni0020/uni0037/uni0030/uni0030 /uni0032/uni0034/uni0030/uni0039/uni0032/uni0034/uni0031/uni0032/uni0032/uni0035/uni0030/uni0033/uni0032/uni0035/uni0030/uni0036/uni0032/uni0035/uni0030/uni0039/uni0032/uni0035/uni0031/uni0032/uni0032/uni0036/uni0030/uni0033/uni0032/uni0036/uni0030/uni0036/uni0032/uni0036/uni0030/uni0039 Cash flow from operating activities per quarter Cash flow from operating activities, rolling 12 months Bravida's aim is that no employees should suffer from physical or mental ill health as a result of their work. Bravida works proactively with training and preventive measures to reduce occupational injuries at the Group. The Group-wide goal is to achieve an L TIFR (occupational injuries resulting in at least one day of sick leave) below 5.5. In the Group, the L TIFR was 4.9 (5.0) in the third quarter of 2026. The L TIFR was 3.6 (4.0) in Sweden, 11.5 (10.3) in Denmark, 1.9 (2.5) in Norway and 5.9 (6.7) in Finland. Bravida's long-term target is to be climate neutral through- out the entire value chain by 2045. Bravida has climate targets approved by the Science Based Targets initiative (SBTi). The target for Scope 1 is to reduce emissions by 42 percent by 2029 compared to the baseline year 2023. The percentage change in Scope 1 CO2e emissions compared to the baseline year was -47 (-26) percent in Sweden, -21 (-6) percent in Denmark, -33 (-46) percent in Norway and 29 (4) percent in Finland. To achieve the Scope 1 target, Bravida is working to, for example, convert its vehicle fleet to electric vehicles. The proportion of electric vehicles in the Group's overall vehicle fleet was 51 (42) percent at the end of the third quarter. The proportion of electric vehicles was 52 (47) percent in Sweden, 51 (27) percent in Denmark 53 (51), percent in Norway and 28 (25) percent in Finland.
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7 BRAVIDA INTERIM REPORT JULY – SEPTEMBER 2026 SWEDEN Operations in Sweden Amounts in SEK million Jul–Sep 2026 Jul–Sep 2025 Jan–Sep 2026 Jan–Sep 2025 Oct 2025 –Sep 2026 Jan–Dec 2025 Net sales 3,047 2,878 10,066 9,520 13,920 13,373 Total growth, % 6 -7 6 -7 -5 Organic growth, % 9 -11 7 -9 -8 Acquisition-based growth, % -3 4 -1 2 3 EBITA 187 172 543 542 893 891 EBITA margin, % 6.1 6.0 5.4 5.7 6.4 6.7 Order intake 4,293 2,925 11,862 9,729 15,046 12,913 Order backlog 8,944 8,350 8,944 8,350 8,944 7 ,680 Average number of employees 5,683 5,704 5,683 5,704 5,847 5,869 Continuing collaboration with EcoDataCenter in Borlänge Bravida has been commissioned by EcoDataCenter to carry out installation work for another data centre in Kvarnsveden, Borlänge. The assignment includes the installation of electricity and power supply facilities, lighting and cooling systems. The new data centre will be the eighth for which Bravida performs installation work for EcoDataCenter. The project has already started and completion is scheduled for the first quarter of 2028. Net sales (SEK million) /uni0030 /uni0031/uni0020/uni0030/uni0030/uni0030 /uni0032/uni0020/uni0030/uni0030/uni0030 /uni0033/uni0020/uni0030/uni0030/uni0030 /uni0034/uni0020/uni0030/uni0030/uni0030 /uni0035/uni0020/uni0030/uni0030/uni0030 /uni0030 /uni0033/uni0020/uni0030/uni0030/uni0030 /uni0036/uni0020/uni0030/uni0030/uni0030 /uni0039/uni0020/uni0030/uni0030/uni0030 /uni0031/uni0032/uni0020/uni0030/uni0030/uni0030 /uni0031/uni0035/uni0020/uni0030/uni0030/uni0030 /uni0032/uni0034/uni0030/uni0039/uni0032/uni0034/uni0031/uni0032/uni0032/uni0035/uni0030/uni0033/uni0032/uni0035/uni0030/uni0036/uni0032/uni0035/uni0030/uni0039/uni0032/uni0035/uni0031/uni0032/uni0032/uni0036/uni0030/uni0033/uni0032/uni0036/uni0030/uni0036/uni0032/uni0036/uni0030/uni0039 Net sales by quarter Net sales, rolling 12 months EBITA (SEK million) /uni0030 /uni0031/uni0030/uni0030 /uni0032/uni0030/uni0030 /uni0033/uni0030/uni0030 /uni0034/uni0030/uni0030 /uni0030 /uni0033/uni0030/uni0030 /uni0036/uni0030/uni0030 /uni0039/uni0030/uni0030 /uni0031/uni0020/uni0032/uni0030/uni0030 /uni0032/uni0034/uni0030/uni0039/uni0032/uni0034/uni0031/uni0032/uni0032/uni0035/uni0030/uni0033/uni0032/uni0035/uni0030/uni0036/uni0032/uni0035/uni0030/uni0039/uni0032/uni0035/uni0031/uni0032/uni0032/uni0036/uni0030/uni0033/uni0032/uni0036/uni0030/uni0036/uni0032/uni0036/uni0030/uni0039 EBITA by quarter EBITA, rolling 12 months Net sales and earnings July–September 2026 The net sales of the Swedish operations increased by 6 (-7) percent during the third quarter of 2026, and amounted to SEK 3,047 (2,878) million. Organic growth developed strongly and increased to 9 (-11) percent. This reflected good demand in northern Sweden, while the market in southern Sweden is also gradually improving. Acquisition-related growth amounted to -3 (4) percent, relates to the acquisition of Åslunds El AB in September 2026 and Elpalko AB in November 2025. The divestment of ABEKA on 1 April 2026 affected the quarter's acquisition-driven growth. Installation activities accounted for 53 (55) percent of net sales. EBITA amounted to SEK 187 (172) million for the third quarter, with restructuring costs having an impact of SEK -8 (–) million on EBITA. The EBITA margin for the quarter amounted to 6.1 (6.0) percent. January–September 2026 Net sales increased by 6 (-7) percent to SEK 10,066 (9,520) million during the period. Organic growth developed positively, increasing to 7 (-9) percent. Acquisition-driven growth amounted to -1 (2) percent, which is mainly attributable to the acquisition of Contub AB in June 2025 and Elpalko AB in November 2025. The divestment of ABEKA on 1 April 2026 affected the period's acquisition-driven growth. Installation activities accounted for 53 (53) percent of net sales. The Swedish operations are stable and gradually recovering as a result of volume growth, a well-balanced production capacity and ongoing improvements in the cost structure. EBITA amounted to SEK 543 (542) million for the period, with restructuring costs having an impact of SEK -68 (–) million on EBITA. The EBITA margin for the period amounted to 5.4 (5.7) percent. Order intake and order backlog July–September 2026 The order intake increased to SEK 4,293 (2,925) million. The order intake mainly consists of significant signed contracts with a value of SEK 1,300 million regarding installation assignments for data centres. The order intake also relates to small and medium-sized installation projects as well as service contracts. January–September 2026 The order intake increased to SEK 11,862 (9,729) million. The order backlog was SEK 8,944 (8,350) million as of 30 September 2026. The divestment of ABEKA decreased the order backlog by SEK -564 million. The order backlog only includes installation projects. Operations in Sweden Photo: EcoDataCenter
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8 BRAVIDA INTERIM REPORT JULY – SEPTEMBER 2026 Net sales and earnings July–September 2026 The net sales of the Danish operations increased by 1 (20) percent during the third quarter of 2026, and amounted to SEK 1,929 (1,910) million. Organic growth increased by 1 (23) percent, with currency effects having a 0 (-3) percent impact. No acquisitions have been completed in the Danish operations. Installation activities accounted for 55 (55) percent of net sales. EBITA increased to SEK 146 (105) million, with an associated EBITA margin of 7 .5 (5.5) percent. The positive earnings trend is primarily due to the continued focus on margin before volume and a gradual phasing out of low-margin projects as these become completed. January–September 2026 Net sales increased by 5 (8) percent, to SEK 5,657 (5,382) million, during the period. The increase consists of organic growth of 7 (11) percent, with currency effects having a -2 (-3) percent impact. No acquisitions have been completed in the Danish operations. Installation activities accounted for 55 (54) percent of net sales. The Danish operations have continuing volume growth, a well-balanced production capacity and ongoing improvements in the cost structure. EBITA increased in the period to SEK 335 (240) million, with an associated EBITA margin of 5.9 (4.5) percent. Order intake and order backlog July–September 2026 The order intake increased to SEK 1,853 (1,375) million. During the quarter, an installation contract was signed for a new data centre at the Port of Esbjerg in Denmark; the order value is confidential but it is around what we call a medium-sized data centre project. The order intake also relates to small and medium-sized installation projects as well as service contracts. January–September 2026 The order intake decreased to SEK 5,577 (6,247) million. At the end of the period, the order backlog totalled SEK 4,590 (4,649) million. The order backlog only includes installation projects. Operations in Denmark Operations in Denmark Amounts in SEK million Jul–Sep 2026 Jul–Sep 2025 Jan–Sep 2026 Jan–Sep 2025 Oct 2025 –Sep 2026 Jan–Dec 2025 Net sales 1,929 1,910 5,657 5,382 7 ,613 7 ,339 Total growth, % 1 20 5 8 5 Organic growth, % 1 23 7 11 8 Acquisition-based growth, % 0 0 0 0 0 Currency effects, % 0 -3 -2 -3 -3 EBITA 146 105 335 240 465 370 EBITA margin, % 7. 5 5.5 5.9 4.5 6.1 5.0 Order intake 1,853 1,375 5,577 6,247 7 ,448 8,117 Order backlog 4,590 4,649 4,590 4,649 4,590 4,465 Average number of employees 3,042 2,949 3,042 2,949 3,086 2,993 Net sales (SEK million) /uni0030 /uni0034/uni0030/uni0030 /uni0038/uni0030/uni0030 /uni0031/uni0020/uni0032/uni0030/uni0030 /uni0031/uni0020/uni0036/uni0030/uni0030 /uni0032/uni0020/uni0030/uni0030/uni0030 /uni0032/uni0020/uni0034/uni0030/uni0030 /uni0032/uni0020/uni0030/uni0030/uni0030 /uni0033/uni0020/uni0030/uni0030/uni0030 /uni0034/uni0020/uni0030/uni0030/uni0030 /uni0035/uni0020/uni0030/uni0030/uni0030 /uni0036/uni0020/uni0030/uni0030/uni0030 /uni0037/uni0020/uni0030/uni0030/uni0030 /uni0038/uni0020/uni0030/uni0030/uni0030 /uni0032/uni0034/uni0030/uni0039/uni0032/uni0034/uni0031/uni0032/uni0032/uni0035/uni0030/uni0033/uni0032/uni0035/uni0030/uni0036/uni0032/uni0035/uni0030/uni0039/uni0032/uni0035/uni0031/uni0032/uni0032/uni0036/uni0030/uni0033/uni0032/uni0036/uni0030/uni0036/uni0032/uni0036/uni0030/uni0039 Net sales by quarter Net sales, rolling 12 months EBITA (SEK million) /uni002D.case/uni0033/uni0030 /uni0030 /uni0033/uni0030 /uni0036/uni0030 /uni0039/uni0030 /uni0031/uni0032/uni0030 /uni0031/uni0035/uni0030 /uni002D.case/uni0031/uni0030/uni0030 /uni0030 /uni0031/uni0030/uni0030 /uni0032/uni0030/uni0030 /uni0033/uni0030/uni0030 /uni0034/uni0030/uni0030 /uni0035/uni0030/uni0030 /uni0032/uni0034/uni0030/uni0039/uni0032/uni0034/uni0031/uni0032/uni0032/uni0035/uni0030/uni0033/uni0032/uni0035/uni0030/uni0036/uni0032/uni0035/uni0030/uni0039/uni0032/uni0035/uni0031/uni0032/uni0032/uni0036/uni0030/uni0033/uni0032/uni0036/uni0030/uni0036/uni0032/uni0036/uni0030/uni0039 EBITA by quarter EBITA, rolling 12 months DENMARK Bravida chosen as the technical partner for a mid-sized data centre in Denmark Bravida has been selected as the technical partner for the construction of Danish Data Center 1 (DDC1) at the Port of Esbjerg. Bravida will supply the majority of the technical installations, including electrical systems, heating and plumbing installations, ventilation, cooling, fire prevention and security systems, and building automation. The facility is being developed with a focus on energy efficiency, supply certainty and close integration with the local energy system. The project will involve specialists from several of Bravida's regions and specialised business areas, working together in an interdisciplinary team. Bravida's installation work is scheduled for completion in autumn 2027 . Photo: Bravida
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9 BRAVIDA INTERIM REPORT JULY – SEPTEMBER 2026 Framework agreement with Avinor for electrical services Bravida has signed a new framework agreement with Avinor at Bergen Flesland Airport. The contract covers the operation, maintenance and development of electrical installations, and was awarded to Bravida based on the company's excellent competence regarding quality and delivery capability. The contract runs for four years, with an extension option, and further expands Bravida's service operations in the Bergen region. Bravida already delivers ICT and plumbing services at the airport, so the new contract is an important addition to this long-standing client relationship. Photo: Avinor, Øystein Løwer NORWAY Net sales and earnings July–September 2026 The net sales of the Norwegian operations increased by 19 (-10) percent during the third quarter of 2026, and amounted to SEK 1,388 (1,165) million. Organic growth amounted to 11 (-7) percent, and was mainly attributable to increased produc- tion in the business operations. Currency effects had a 7 (-3) percent impact. Acquisition-driven growth was 1 (0) percent, with this attributable to the acquisition of Nitek AS in November 2025. Installation activities accounted for 42 (36) percent of net sales. EBITA increased to SEK 86 (66) million, with an associated EBITA margin of 6.2 (5.7) percent. The positive earnings trend is a result of volume growth and a continued focus on margins. January–September 2026 Net sales increased by 7 (-14) percent during the period, to SEK 4,193 (3,906) million. Organic growth amounted to 3 (-11) percent, and was mainly attributable to increased production in the business operations. Acquisition-driven growth was 1 (0) percent, with this attributable to the acquisition of Nitek AS. Currency effects had a 3 (-3) percent impact. Installation activities accounted for 40 (39) percent of net sales. The Norwegian operations are stable and gradually recovering as a result of volume growth, a well-balanced production capacity and ongoing improvements in the cost structure. EBITA amounted to SEK 242 (218) million during the period. The EBITA margin was 5.8 (5.6) percent. Order intake and order backlog July–September 2026 The order intake increased to SEK 1,462 (996) million. The order intake relates primarily to small and medium-sized installation projects as well as service contracts. January–September 2026 The order intake increased to SEK 8,693 (4,113) million. At the end of the period, the order backlog had increased to SEK 7 ,018 (2,129) million. The order backlog only includes installation projects. Operations in Norway Operations in Norway Amounts in SEK million Jul–Sep 2026 Jul–Sep 2025 Jan–Sep 2026 Jan–Sep 2025 Oct 2025 –Sep 2026 Jan–Dec 2025 Net sales 1,388 1,165 4,193 3,906 5,699 5,412 Total growth, % 19 -10 7 -14 -13 Organic growth, % 11 -7 3 -11 -9 Acquisition-based growth, % 1 0 1 0 0 Currency effects, % 7 -3 3 -3 -4 EBITA 86 66 242 218 358 334 EBITA margin, % 6.2 5.7 5.8 5.6 6.3 6.2 Order intake 1,462 996 8,693 4,113 10,081 5,501 Order backlog 7 ,018 2,129 7 ,018 2,129 7 ,018 1,991 Average number of employees 3,292 3,412 3,292 3,412 3,229 3,349 Net sales (SEK million) /uni0030 /uni0034/uni0030/uni0030 /uni0038/uni0030/uni0030 /uni0031/uni0020/uni0032/uni0030/uni0030 /uni0031/uni0020/uni0036/uni0030/uni0030 /uni0032/uni0020/uni0030/uni0030/uni0030 /uni0030 /uni0031/uni0020/uni0034/uni0030/uni0030 /uni0032/uni0020/uni0038/uni0030/uni0030 /uni0034/uni0020/uni0032/uni0030/uni0030 /uni0035/uni0020/uni0036/uni0030/uni0030 /uni0037/uni0020/uni0030/uni0030/uni0030 /uni0032/uni0034/uni0030/uni0039/uni0032/uni0034/uni0031/uni0032/uni0032/uni0035/uni0030/uni0033/uni0032/uni0035/uni0030/uni0036/uni0032/uni0035/uni0030/uni0039/uni0032/uni0035/uni0031/uni0032/uni0032/uni0036/uni0030/uni0033/uni0032/uni0036/uni0030/uni0036/uni0032/uni0036/uni0030/uni0039 Net sales by quarter Net sales, rolling 12 months EBITA (SEK million) /uni0030 /uni0033/uni0030 /uni0036/uni0030 /uni0039/uni0030 /uni0031/uni0032/uni0030 /uni0031/uni0035/uni0030 /uni0030 /uni0038/uni0030 /uni0031/uni0036/uni0030 /uni0032/uni0034/uni0030 /uni0033/uni0032/uni0030 /uni0034/uni0030/uni0030 /uni0032/uni0034/uni0030/uni0039/uni0032/uni0034/uni0031/uni0032/uni0032/uni0035/uni0030/uni0033/uni0032/uni0035/uni0030/uni0036/uni0032/uni0035/uni0030/uni0039/uni0032/uni0035/uni0031/uni0032/uni0032/uni0036/uni0030/uni0033/uni0032/uni0036/uni0030/uni0036/uni0032/uni0036/uni0030/uni0039 EBITA by quarter EBITA, rolling 12 months
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10 BRAVIDA INTERIM REPORT JULY – SEPTEMBER 2026 FINLAND Net sales and earnings July–September 2026 The net sales of the Finnish operations increased by 33 (-18) percent during the third quarter of 2026, and amounted to SEK 701 (528) million. The operations are showing gradual positive progress, with demand in Inner Finland and in Ostro - bothnia being stronger. Organic growth was 33 (-21) percent, and currency effects had a 0 (-2) percent impact. Acquisi- tion-driven growth amounted to 0 (5) percent. Installation activities accounted for 70 (67) percent of net sales. EBITA increased to SEK 36 (3) million, with an associated EBITA margin of 5.1 (0.6) percent. The positive earnings trend is a result of volume growth together with a focus on margins. January–September 2026 Net sales increased by 16 (-13) percent during the period, to SEK 1,888 (1,628) million. Organic growth developed positively, amounting to 17 (-19) percent. Currency effects had a -2 (-3) percent impact. Acquisition-driven growth was 1 (9) percent, with this attributable to the acquisition of TS Sähkötekniikka Oy. Installation activities accounted for 70 (69) percent of net sales. The Finnish operations are stable and gradually recovering as a result of volume growth, a well-balanced production capacity and ongoing improvements in the cost structure. EBITA for the period increased to SEK 64 (26) million, with an associated EBITA margin of 3.4 (1.6) percent. Order intake and order backlog July–September 2026 The order intake increased to SEK 2,748 (749) million. The significant increase in the order intake is due to Bravida Finland signing a contract during the quarter to perform all the installation work as the main contractor for atNorth's data centre in Kouvola, Finland. This has an order value of approxi- mately SEK 2,200 million. The order intake also relates to small and medium-sized installation projects as well as service contracts. January–September 2026 The order intake increased to SEK 4,215 (1,980) million. At the end of the period, the order backlog totalled SEK 3,665 (1,253) million. The order backlog only includes installation projects. Operations in Finland Operations in Finland Amounts in SEK million Jul–Sep 2026 Jul–Sep 2025 Jan–Sep 2026 Jan–Sep 2025 Oct 2025 –Sep 2026 Jan–Dec 2025 Net sales 701 528 1,888 1,628 2,524 2,264 Total growth, % 33 -18 16 -13 -9 Organic growth, % 33 -21 17 -19 -14 Acquisition-based growth, % 0 5 1 9 8 Currency effects, % 0 -2 -2 -3 -3 EBITA 36 3 64 26 86 48 EBITA margin, % 5.1 0.6 3.4 1.6 3.4 2.1 Order intake 2,748 749 4,215 1,980 4,812 2,577 Order backlog 3,665 1,253 3,665 1,253 3,665 1,188 Average number of employees 955 971 955 971 964 980 Net sales (SEK million) /uni0030 /uni0031/uni0035/uni0030 /uni0033/uni0030/uni0030 /uni0034/uni0035/uni0030 /uni0036/uni0030/uni0030 /uni0037/uni0035/uni0030 /uni0039/uni0030/uni0030 /uni0030 /uni0035/uni0030/uni0030 /uni0031/uni0020/uni0030/uni0030/uni0030 /uni0031/uni0020/uni0035/uni0030/uni0030 /uni0032/uni0020/uni0030/uni0030/uni0030 /uni0032/uni0020/uni0035/uni0030/uni0030 /uni0033/uni0020/uni0030/uni0030/uni0030 /uni0032/uni0034/uni0030/uni0039/uni0032/uni0034/uni0031/uni0032/uni0032/uni0035/uni0030/uni0033/uni0032/uni0035/uni0030/uni0036/uni0032/uni0035/uni0030/uni0039/uni0032/uni0035/uni0031/uni0032/uni0032/uni0036/uni0030/uni0033/uni0032/uni0036/uni0030/uni0036/uni0032/uni0036/uni0030/uni0039 Net sales by quarter Net sales, rolling 12 months EBITA (SEK million) /uni0030 /uni0031/uni0030 /uni0032/uni0030 /uni0033/uni0030 /uni0034/uni0030 /uni0035/uni0030 /uni0030 /uni0032/uni0035 /uni0035/uni0030 /uni0037/uni0035 /uni0031/uni0030/uni0030 /uni0031/uni0032/uni0035 /uni0032/uni0034/uni0030/uni0039/uni0032/uni0034/uni0031/uni0032/uni0032/uni0035/uni0030/uni0033/uni0032/uni0035/uni0030/uni0036/uni0032/uni0035/uni0030/uni0039/uni0032/uni0035/uni0031/uni0032/uni0032/uni0036/uni0030/uni0033/uni0032/uni0036/uni0030/uni0036/uni0032/uni0036/uni0030/uni0039 EBITA by quarter EBITA, rolling 12 months Bravida chosen as main contractor for atNorth's data centre in Kouvola Bravida has signed a contract to perform all the installation work, as the main contractor, for atNorth's data centre in Kouvola. The assignment includes all the installation work and management of the construction contract (CSA). The project will be led by the Bravida Group's PMO – Special Projects business area. The work will be carried out together with Bravida's Finnish organisation, which has a track record of successfully carrying out industrial projects. Photo: Bravida
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11 BRAVIDA INTERIM REPORT JULY – SEPTEMBER 2026 FINANCIAL OVERVIEW Consolidated income statement, summary Amounts in SEK million Jul–Sep 2026 Jul–Sep 2025 Jan–Sep 2026 Jan–Sep 2025 Oct 2025 –sep 2026 Jan–Dec 2025 Net sales 7 ,027 6,433 21,701 20,295 29,614 28,208 Production costs -5,970 -5,479 -18,500 -17 ,338 -25,076 -23,914 Gross profit/loss 1,057 954 3,201 2,957 4,538 4,295 Results from sale of subsidiaries – – 158 – 158 – Sales costs and administrative expenses -597 -612 -2,004 -1,930 -2,700 -2,627 Operating profit/loss 460 342 1,354 1,027 1,996 1,668 Net financial items -19 -31 -64 -84 -89 -109 Profit/loss before tax 441 311 1,290 943 1,907 1,559 Tax -94 -67 -274 -201 -398 -325 Profit/loss for the period 347 245 1,016 742 1,509 1,234 Profit/loss for the period attributable to: Owners of the parent company 347 244 1,015 739 1,507 1,231 Non-controlling interests – 1 1 3 2 3 Profit/loss for the period 347 245 1,016 742 1,509 1,234 Basic earnings per share, SEK 1.70 1.19 4.97 3.61 7. 3 8 6.02 Diluted earnings per share, SEK 1.70 1.19 4.96 3.61 7. 3 7 6.01 Consolidated statement of comprehensive income, summary Amounts in SEK million Jul–Sep 2026 Jul–Sep 2025 Jan–Sep 2026 Jan–Sep 2025 Oct 2025 –sep 2026 Jan–Dec 2025 Profit/loss for the period 347 245 1,016 742 1,509 1,234 Other comprehensive income Items that have been or can be transferred to profit/loss for the year Translation differences for the period from the translation of foreign operations 160 -20 350 -149 249 -250 Items that cannot be transferred to profit/loss for the year Revaluation of defined-benefit pensions – – – – 53 53 Tax attributable to the revaluation of pensions – – – – -11 -11 Other comprehensive income for the period 160 -20 350 -149 291 -208 Comprehensive income for the period 507 225 1,366 593 1,800 1,027 Comprehensive income for the period attributable to: Owners of the parent company 507 224 1,365 590 1,799 1,024 Non-controlling interests – 1 1 3 2 3 Comprehensive income for the period 507 225 1,366 593 1,800 1,027 Financial reporting
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12 BRAVIDA INTERIM REPORT JULY – SEPTEMBER 2026 FINANCIAL OVERVIEW Consolidated statement of changes in equity, summary Amounts in SEK million Jan–Sep 2026 Jan–Sep 2025 Jan–Dec 2025 Consolidated equity Amount at start of period 9,127 8,828 8,828 Comprehensive income for the period 1,366 593 1,027 New issue and repurchase of class C shares 0 – – Buyback of own shares -172 – – Exercise of non-controlling interests’ put option – 18 17 Dividend -777 -767 -767 Long-term incentive programme 27 29 22 Amount at end of period 9,571 8,701 9,127 Equity/assets ratio 39.7% 37 .0% 40.6% Consolidated balance sheet, summary* Amounts in SEK million 30/09/2026 30/09/2025 31/12/2025 Goodwill 11,668 11,520 11,309 Right-of-use assets 1,393 1,350 1,414 Other non-current assets 588 512 522 Total non-current assets 13,649 13,382 13,245 Trade receivables and similar receivables 5,235 4,967 4,861 Contract assets 3,245 3,473 2,228 Other current assets 1,040 1,049 861 Cash and cash equivalents 965 616 956 Assets held for sale – – 318 Total current assets 10,484 10,106 9,223 Total assets 24,133 23,488 22,468 Equity attributable to owners of the parent company 9,571 8,689 9,115 Non-controlling interests – 12 12 Total equity 9,571 8,701 9,127 Non-current liabilities 1,697 1,771 1,643 Lease liabilities 954 913 944 Total non-current liabilities 2,651 2,684 2,587 Lease liabilities 495 482 515 Trade payables 2,684 2,653 2,475 Contract and similar liabilities 3,544 3,378 2,569 Other current liabilities 5,188 5,591 5,042 Liabilities associated with assets held for sale – – 152 Total current liabilities 11,910 12,103 10,753 Total liabilities 14,562 14,787 13,340 Total equity and liabilities 24,133 23,488 22,468 Of which interest-bearing liabilities 3,529 4,085 3,593 * A reassessment of the presentation has resulted in an adjustment of comparative periods, see Note 1.
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13 BRAVIDA INTERIM REPORT JULY – SEPTEMBER 2026 FINANCIAL OVERVIEW Consolidated cash flow statement, summary Amounts in SEK million Jul–Sep 2026 Jul–Sep 2025 Jan–Sep 2026 Jan–Sep 2025 Oct 2025 –sep 2026 Jan–Dec 2025 Cash flow from operating activities Profit/loss before tax 441 311 1,290 943 1,907 1,559 Adjustments for non-cash items 155 188 343 529 480 667 Income taxes paid -69 -81 -246 -333 -328 -415 Cash flow from operating activities before changes in working capital 527 418 1,387 1,139 2,059 1,811 Cash flow from changes in working capital Change in inventories -11 0 -20 -2 -11 7 Change in trade receivables and other operating receivables -472 -44 -1,134 -624 -259 251 Change in trade payables and other operating liabilities 756 -484 1,017 -221 622 -616 Cash flow from operating activities 800 -111 1,250 292 2,411 1,453 Investing activities Acquisitions of subsidiaries and businesses -19 -85 -132 -204 -172 -244 Divestment of subsidiaries and businesses – – 208 – 208 – Other -9 -45 -69 -120 -105 -156 Cash flow from investing activities -28 -130 7 -324 -69 -400 Financing activities Net change in borrowing -440 664 -53 1,075 -611 518 Repayment of lease liabilities -141 -134 -423 -411 -568 -556 Acquisition of non-controlling interests – – – -125 – -125 Dividend paid – – -777 -767 -777 -767 Buyback of own shares -84 – -172 – -172 – Cash flow from financing activities -665 530 -1,425 -227 -2,128 -930 Cash flow for the period 107 289 -167 -259 214 123 Cash and cash equivalents at start of period 764 329 956 909 616 909 Translation difference on cash and cash equivalents 94 -1 177 -33 135 -76 Cash and cash equivalents at end of period 965 616 965 616 965 956
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14 BRAVIDA INTERIM REPORT JULY – SEPTEMBER 2026 FINANCIAL OVERVIEW Parent company income statement, summary Amounts in SEK million Jul–Sep 2026 Jul–Sep 2025 Jan–Sep 2026 Jan–Sep 2025 Jan–Dec 2025 Net sales 63 56 192 180 263 Sales costs and administrative expenses -64 -54 -196 -204 -354 Operating profit/loss -2 1 -4 -24 -90 Net financial items -28 -28 -78 -78 -107 Profit/loss after net financial items -30 -26 -83 -102 -198 Net Group contributions – – – – 589 Appropriations – – – – -100 Profit/loss before tax -30 -26 -83 -102 291 Tax – – – – -68 Profit/loss for the period -30 -26 -83 -102 224 Parent company balance sheet, summary Amounts in SEK million 30/09/2026 30/09/2025 31/12/2025 Shares in subsidiaries 7, 3 4 1 7, 3 4 1 7, 3 4 1 Non-current receivables 3 2 2 Deferred tax asset 1 1 1 Total non-current assets 7 ,345 7 ,344 7 ,344 Receivables from Group companies 2,417 2,922 3,502 Current receivables 247 206 92 Total current receivables 2,664 3,129 3,594 Cash and bank balances 809 381 683 Total current assets 3,473 3,510 4,277 Total assets 10,818 10,854 11,622 Restricted equity 4 4 4 Non-restricted equity 1,820 2,506 2,825 Equity 1,824 2,510 2,829 Untaxed reserves 872 772 872 Liabilities to credit institutions 750 750 750 Provisions 8 7 7 Total non-current liabilities 758 757 757 Short-term loans 1,330 1,941 1,383 Liabilities to Group companies 5,971 4,824 5,723 Current liabilities 61 50 56 Total current liabilities 7 ,363 6,814 7 ,163 Total equity and liabilities 10,818 10,854 11,622 Of which interest-bearing liabilities 2,080 2,691 2,133
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15 BRAVIDA INTERIM REPORT JULY – SEPTEMBER 2026 FINANCIAL OVERVIEW Quarterly data INCOME STATEMENT Jul–Sep 2026 Apr–Jun 2026 Jan–Mar 2026 Oct–Dec 2025 Jul–Sep 2025 Apr–Jun 2025 Jan–Mar 2025 Oct–Dec 2024 Net sales 7 ,027 7 ,629 7 ,045 7 ,913 6,433 6,974 6,888 8,108 Production costs -5,970 -6,462 -6,038 -6,576 -5,479 -5,961 -5,897 -6,751 Gross profit/loss 1,057 1,137 1,007 1,338 954 1,013 991 1,357 Results from sale of subsidiaries – 158 – – – – – – Sales costs and administrative expenses -597 -724 -682 -696 -612 -635 -684 -753 Operating profit/loss 460 570 325 641 342 378 307 604 Net financial items -19 -27 -19 -24 -31 -35 -18 -51 Profit/loss after financial items 441 543 306 617 311 342 289 553 Tax -94 -115 -65 -124 -67 -73 -62 -130 Profit/loss for the period 347 429 240 493 245 269 228 423 BALANCE SHEET* 30/09/2026 30/06/2026 31/03/2026 31/12/2025 30/09/2025 30/06/2025 31/03/2025 31/12/2024 Goodwill 11,668 11,526 11,495 11,309 11,520 11,490 11,334 11,406 Other non-current assets 1,981 1,999 2,021 1,936 1,862 1,882 1,866 1,907 Current assets 9,519 8,805 8,271 8,267 9,489 9,508 8,948 9,176 Cash and cash equivalents 965 764 895 956 616 329 608 909 Total assets 24,133 23,094 22,683 22,468 23,488 23,209 22,756 23,398 Equity 9,571 9,137 9,510 9,127 8,701 8,465 8,909 8,828 Long-term loans 750 750 750 750 750 – – – Non-current liabilities 1,901 1,887 1,911 1,837 1,934 1,964 2,002 2,134 Current liabilities 11,910 11,320 10,512 10,753 12,103 12,781 11,844 12,435 Total equity and liabilities 24,133 23,094 22,683 22,468 23,488 23,209 22,756 23,398 CASH FLOW Jul–Sep 2026 Apr–Jun 2026 Jan–Mar 2026 Oct–Dec 2025 Jul–Sep 2025 Apr–Jun 2025 Jan–Mar 2025 Oct–Dec 2024 Cash flow from operating activities 800 96 354 1,161 -111 123 280 756 Cash flow from investing activities -28 140 -105 -77 -130 -171 -22 -109 Cash flow from financing activities -665 -372 -389 -703 530 -226 -531 -949 Cash flow for the period 107 -135 -139 382 289 -275 -273 -301 KEY INDICATORS Jul–Sep 2026 Apr–Jun 2026 Jan–Mar 2026 Oct–Dec 2025 Jul–Sep 2025 Apr–Jun 2025 Jan–Mar 2025 Oct–Dec 2024 Operating margin (EBIT), % 6.5 7. 5 4.6 8.1 5.3 5.4 4.5 7. 5 EBITA margin, % 6.5 7. 5 4.6 8.1 5.3 5.4 4.5 7. 5 Return on equity, % 16.1 15.1 13.4 13.8 13.6 12.9 12.3 12.5 Net debt -2,564 -3,226 -2,499 -2,637 -3,469 -3,131 -2,156 -2,192 Net debt/EBITDA 1.0 1.3 1.1 1.1 1.5 1.4 1.0 1.0 Cash conversion, % 110 77 77 79 63 80 101 105 Interest coverage, multiple 12.0 14.6 9.7 13.1 8.5 10.3 10.0 13.7 Equity/assets ratio, %* 39.7 39.6 41.9 40.6 3 7. 0 36.5 39.2 3 7. 7 Order intake 10,317 11,691 8,236 7 ,000 5,997 8,109 7 ,823 6,327 Order backlog 24,216 20,372 16,727 15,325 16,381 16,854 15,586 14,929 Average number of employees 13,137 12,984 13,000 13,397 13,238 13,416 13,493 13,756 Administrative expenses as % of sales 8.5 9.5 9.7 8.8 9.5 9.1 9.9 9.3 Working capital as % of sales* -1.1 0.1 -1.3 -1.7 0.6 -1.3 -2.5 -2.4 Basic earnings per share, SEK 1.70 2.10 1.17 2.41 1.19 1.31 1.11 2.07 Diluted earnings per share, SEK 1.70 2.10 1.17 2.41 1.19 1.31 1.11 2.06 Equity per share, SEK 46.74 44.63 46.45 44.56 42.47 41.32 43.49 43.03 Share price at balance sheet date, SEK 151.00 123.60 98.40 89.75 91.75 95.15 90.75 80.10 * A reassessment of the presentation has resulted in an adjustment of comparative periods, see Note 1.
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16 BRAVIDA INTERIM REPORT JULY – SEPTEMBER 2026 FINANCIAL OVERVIEW Reconciliation of key indicators, not defined by IFRS Amounts in SEK million Jul–Sep 2026 Apr–Jun 2026 Jan–Mar 2026 Oct–Dec 2025 Jul–Sep 2025 Apr–Jun 2025 Jan–Mar 2025 Oct–Dec 2024 Interest-bearing liabilities Long-term loans -750 -750 -750 -750 -750 – – – Short-term loans -1,330 -1,770 -1,135 -1,383 -1,941 -2,026 -1,309 -1,615 Lease liability -1,449 -1,470 -1,509 -1,460 -1,394 -1,433 -1,455 -1,485 Total interest-bearing liabilities -3,529 -3,990 -3,394 -3,593 -4,085 -3,459 -2,764 -3,100 Net debt Interest-bearing liabilities -3,529 -3,990 -3,394 -3,593 -4,085 -3,459 -2,764 -3,100 Cash and cash equivalents 965 764 895 956 616 329 608 909 Total net debt -2,564 -3,226 -2,499 -2,637 -3,469 -3,131 -2,156 -2,192 EBITA Operating profit, EBIT 460 570 325 641 342 378 307 604 Amortisation and impairment of non-current intangible assets 0 0 0 0 0 0 0 0 EBITA 460 570 325 641 342 378 307 604 EBITDA / Adjusted EBITDA Operating profit, EBIT 460 570 325 641 342 378 307 604 Depreciation 156 147 162 166 154 155 158 170 EBITDA 616 717 487 807 497 532 464 774 Adjustment profit on sale of subsidiary – -158 – – – – – – Adjusted EBITDA 616 560 487 807 497 532 464 774 Working capital Current assets* 10,484 9,569 8,945 8,905 10,106 9,837 9,556 10,085 Cash and cash equivalents -965 -764 -895 -956 -616 -329 -608 -909 Current liabilities* -11,910 -11,320 -10,340 -10,602 -12,103 -12,781 -11,844 -12,435 Lease, current liability 495 504 515 515 482 490 497 505 Short-term loans 1,330 1,770 1,135 1,383 1,941 2,026 1,309 1,615 Provisions* 246 272 280 275 357 374 356 433 Total working capital -321 31 -361 -478 166 -382 -734 -706 Interest coverage ratio Profit/loss before tax 441 543 306 617 311 342 289 553 Interest expenses 40 40 35 51 41 37 32 44 Total 481 583 341 668 353 379 321 597 Interest expenses 40 40 35 51 41 37 32 44 Interest coverage ratio, multiple 12,0 14,6 9,7 13,1 8,5 10,3 10,0 13,7 Cash conversion Cash flow from operating activities, 12 m 2,412 1,501 1,527 1,453 1,048 1,352 1,777 1,896 Income taxes paid 328 341 332 415 392 381 370 257 Net interest income 89 101 110 109 135 145 148 168 Investments in machinery and equipment, m -105 -141 -168 -156 -137 -102 -78 -54 Adjusted cash flow from operating activities, 12 m 2,724 1,801 1,800 1,821 1,437 1,776 2,217 2,268 Adjusted EBITDA, 12 m 2,470 2,350 2,323 2,301 2,268 2,223 2,186 2,167 Cash conversion, % 110 77 77 79 63 80 101 105 * A reassessment of the presentation has resulted in an adjustment of comparative periods, see Note 1. Reconciliation of key indicators, not defined under IFRS The company presents certain financial measures in this quarterly report that are not defined under IFRS. The company considers that these indicators provide valuable additional information for investors and the company’s management as they allow relevant trends to be assessed. Bravida’s definitions of these indicators may differ from other companies’ definitions of the same terms. These financial measures should therefore be regarded as complementary rather than replacing the measures defined under IFRS. See page 21 for definitions of key indicators.
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17 BRAVIDA INTERIM REPORT JULY – SEPTEMBER 2026 NOTES Notes NOTE 2. Segment reporting and revenue distribution Net sales by country Amounts in SEK million Jul–Sep 2026 Distri- bution Jul–Sep 2025 Distri- bution Jan–Sep 2026 Distri- bution Jan–Sep 2025 Distri- bution Jan–Dec 2025 Distri- bution Sweden 3,047 43% 2,878 45% 10,066 46% 9 ,520 47% 13,373 47% Denmark 1,929 27% 1,910 30% 5,657 26% 5,382 26% 7 ,339 26% Norway 1,388 20% 1,165 18% 4,193 19% 3,906 19% 5,412 19% Finland 701 10% 528 8% 1,888 9% 1,628 8% 2,264 8% Group-wide and eliminations -38 -48 -104 -140 -179 Total 7 ,027 6,433 21,701 20,295 28,208 EBITA, EBITA margin and profit/loss before tax Amounts in SEK million Jul–Sep 2026 EBITA margin Jul–Sep 2025 EBITA margin Jan–Sep 2026 EBITA margin Jan–Sep 2025 EBITA margin Jan–Dec 2025 EBITA margin Sweden 187 6.1% 172 6.0% 543 5.4% 542 5.7% 891 6.7% Denmark 146 7. 5 % 105 5.5% 335 5.9% 240 4.5% 370 5.0% Norway 86 6.2% 66 5.7% 242 5.8% 218 5.6% 334 6.2% Finland 36 5.1% 3 0.6% 64 3.4% 26 1.6% 48 2.1% Group-wide and eliminations 6 -4 170 1 26 EBITA 460 6.5% 342 5.3% 1,355 6.2% 1,027 5.1% 1,668 5.9% Depreciation and amortisation of intangible assets 0 0 0 0 0 Net financial items -19 -31 -64 -84 -109 Profit/loss before tax (EBT) 441 311 1,290 943 1,559 NOTE 1. Accounting policies This interim report for the Group has been prepared in accordance with International Reporting Standards (IFRS) using IAS 34 Interim Reporting. The parent company applies Recommendation RFR 2 Accounting for Legal Entities and Chapter 9 of the Swedish Annual Accounts Act regarding interim reports. The accounting policies applied are consistent with what is set out in the 2025 Annual Report. The IASB has published supplements to standards that apply from 1 January 2026 or later. Such supplements have not had any material impact on Bravida’s financial statements. The company has made a preliminary assessment of the effects of IFRS 18 Presentation and Disclosure in Financial Statements and believes that the standard will not have a material impact on the company’s financial reporting or the presentation of alternative key indicators. Otherwise, the new standards and interpretations are not expected to have a material impact on the Group’s financial statements in current or future periods, nor on future transactions. Bravida has some defined-benefit pension plans, for which the effects of changes in actuarial assumptions, including pension indexation, are difficult to estimate with a reasonable degree of reliability. Reported pension obligations amount to SEK 243 million. The overall judgement made indicates that the effects are not significant with regard to assessing the Group’s financial position and performance. Effects for defined benefit pensions that are recognised in other comprehensive income have therefore not been estimated in this Interim Report. The pension liability will be determined using an actuarial calculation in the end-of-year accounts latest as at 31 December 2026. All amounts in this Interim Report are stated in millions of Swedish kronor (SEK million), unless specified otherwise, and rounding differences may therefore occur. A reassessment regarding their presentation has been made of invoiced amounts relating to legal disputes in Denmark and Norway. The amounts have previously been presented gross, with invoiced amounts as an asset and estimated uncertainty as a liability. As a result of the reassessment, the amounts are now presented net as an asset. The change in their presentation only affects reported assets and liabilities, and has no impact on the profit or equity. The comparison periods have been retroactively adjusted in accordance with the change in presentation. Effect on the Group’s balance sheet Amounts in SEK million 30/09/2025 31/12/2025 Trade receivables and similar receivables -469 -910 Contract assets -96 -83 Total assets -564 -992 Provisions -114 -231 Contract liabilities and similar liabilities -360 -605 Other liabilities -90 -156 Total liabilities -564 -992
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18 BRAVIDA INTERIM REPORT JULY – SEPTEMBER 2026 NOTES NOTE 2. Segment reporting and revenue distribution, cont. Distribution of revenues by category Jul–Sep 2026 Jul–Sep 2025 Amounts in SEK million Service Installation Total Service Installation Total Sweden 1,437 1,611 3,047 1,308 1,570 2,878 Denmark 875 1,055 1,929 859 1,051 1,910 Norway 807 581 1,388 740 425 1,165 Finland 209 491 701 175 353 528 Eliminations -3 -35 -38 -2 -46 -48 Group 3,324 3,703 7 ,027 3,080 3,353 6,433 Jan–Sep 2026 Jan–Sep 2025 Amounts in SEK million Service Installation Total Service Installation Total Sweden 4,699 5,367 10,066 4,508 5,012 9 ,520 Denmark 2,568 3,088 5,657 2,479 2,903 5,382 Norway 2,527 1,666 4,193 2,366 1,540 3,906 Finland 563 1,325 1,888 510 1,117 1,628 Eliminations -17 -87 -104 -15 -125 -140 Group 10,341 11,360 21,701 9 ,848 10,447 20,295 Average number of employees Jan–Sep 2026 Jan–Sep 2025 Jan–Dec 2025 Sweden 5,683 5,704 5,869 Denmark 3,042 2,949 2,993 Norway 3,292 3,412 3,349 Finland 955 971 980 Group-wide 165 200 206 Total 13,137 13,238 13,397
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19 BRAVIDA INTERIM REPORT JULY – SEPTEMBER 2026 NOTES Effects of acquisitions Bravida normally uses an acquisition structure with a fixed purchase price and contingent consideration. The contingent consideration is initially valued at the likely final amount, which for the year’s acquisitions is SEK 10 million. The contingent considerations are due for payment within three to five years. The acquisitions are reported in aggregate form in the table below as individually they are not of sufficient size to justify separate recognition of each acquisition. Acquisitions of subsidiaries and operations are generally reported in the cash flow statement within investing activities. Acquisitions of subsidiaries and operations are reported net and include cash settled purchase prices for the year's acquisitions, cash settlement of debt-recorded purchase prices for previously made acquisitions and acquired cash and cash equivalents. Acquisitions after the balance sheet date No acquisitions have been made after the end of the reporting period. NOTE 4. Seasonal variations Bravida’s business is affected by seasonal variations in the construction industry and employees’ annual holiday. Bravida usually has a lower level of activity in the third quarter as it is the main holiday period. The fourth quarter normally has the highest earnings because a lot of projects are completed during that period. NOTE 5. Financial instruments, fair value The fair value of the Group’s financial assets and liabilities is not materially different from carrying amounts. No items other than the contingent consideration are recognised at fair value in the balance sheet, belongs to level 3 in the fair value hierarchy. Note 6. Divestment of subsidiaries On 12 January 2026, Bravida announced the divestment of ABEKA EL & Kraftanläggningar AB to Vidia Climate Fund I. The transaction was completed on April 1, 2026 and generated a capital gain in the second quarter of 2026 of MSEK 158. The capital gain is reported as other income in the income statement and within the Group in the segment reporting. The cash flow effect, net from the sale was MSEK 208 in the second quarter of 2026 and is presented as cash flow from investing activities. The transaction is in line with Bravida's strategy, ABEKA's operations are not in line with Bravida's core business, which is the explanation for the sale. ABEKA's sales for 2025 amounted to MSEK 472 and EBITA amounted to MSEK 36. NOTE 3. Acquisition of operations Bravida made the following acquisitions in January – September: Acquired unit Country Technical area Art Date Percentage of votes Employees Estimated annual sales, million SEK Åslunds El AB Sweden Electrics Company September 100% 29 56 Assets and liabilities included in acquisition Fair value recognised in the Group, SEK million Intangible assets - Property, plant and equipment 0 Trade receivables* 3 Contract assets 4 Other current assets 1 Cash and cash equivalents 6 Non-current liabilities 0 Trade payables -2 Contract liabilities - Other current liabilities -3 Net identifiable assets and liabilities 9 Consolidated goodwill 33 Consideration 42 Consideration recognised as a liability** 18 Cash consideration paid 24 Cash and cash equivalents, acquired 6 Net effect on cash and cash equivalents 18 * There are no material write downs of trade receivables. ** Of the total consideration recognised as a liability in the period, SEK 10 million consists of contingent consideration.
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20 BRAVIDA INTERIM REPORT JULY – SEPTEMBER 2026 NOTES Information This information is information that Bravida Holding is obliged to make public pursuant to the EU Market Abuse Regulation. The information was provide for publication, through the agency of the contact person set out below, at 07:30 am CEST on 23 October 2026. This is a translation of the Swedish Interim Report of Bravida Holding AB. In the event of inconsistency between the English and the Swedish versions, the Swedish version shall prevail. Bravida does not provide a forecast. This report contains information and opinions on future prospects for Bravida’s business activities. The information is based on the Group Management’s current expectations and estimates. Actual future outcomes may vary considerably from the forward-looking statements in this report, partly because of changes in economic, market and competitive conditions. For further information, please contact: Dennis Bader, Head of Investor Relations Email: dennis.bader@bravida.se Telephone: +46 735 92 28 55 Financial reporting dates Interim Report October–December 2026 10 February 2027 Annual Report 2026 Week 13, 2027 Interim Report January – March 2027 27 April 2027 Annual General Meeting 2027 27 April 2027 Interim Report April – June 2027 15 July 2027 Interim Report July – September 2027 26 October 2027 Stockholm 23 October 2026 Bravida Holding AB Mattias Johansson CEO and Group President The auditor’s report on the review of the interim report To the Board Of Directors of Bravida Holding AB (publ), Corporate ID number 556891-5390 Introduction We have conducted a limited assurance review of the summary interim financial information (Interim Report) for Bravida Holding AB (publ) at 30 September 2026 and the nine-month period ended at such date. The Board of Directors and the Chief Executive Officer 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 limited assurance review. Scope and focus of the limited assurance review We conducted our limited assurance review in accordance with the International Standard on Review Engagements ISRE 2410, ‘Review of Interim Financial Information Performed by the Independent Auditor of the Entity’ . A limited assurance review consists of making enquiries, primarily addressing persons responsible for financial and accounting matters, and applying analytical and other limited assurance procedures. The procedures performed in a limited assurance review vary in nature from, and are considerably less in scope than, an audit conducted in accordance with the ISA and other generally accepted auditing standards. The procedures performed in a limited assurance review do not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, the conclusion expressed based on a limited assurance review does not have the assurance of a conclusion based on an audit. Conclusion Based on the limited assurance procedures we have performed, nothing has come to our attention that causes us to believe that this Interim Report has not been prepared for the Group, in all material respects, in accordance with IAS 34 and the Swedish Annual Accounts Act, and for the Parent Company in accord- ance with the Swedish Annual Accounts Act. Stockholm 23 October 2026. KPMG AB Henrik Lind, Authorised Public Accountant
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21 BRAVIDA INTERIM REPORT JULY – SEPTEMBER 2026 DEFINITIONS * See page 16 for reconciliation of key indicators. 1) The definition has been changed to be in relation to adjusted EBITDA to take into account results from the sale of subsidiaries. Definitions Sustainability definitions Please note that newly acquired companies are not included in the reporting of sustainability indicators. Change in CO2e emissions, vehicles Refers to scope 1 and 3 emissions from vehicles either leased or owned by Group companies and includes both service vehicles and company cars. Emissions are calculated in accordance with the GHG Protocol and emission factors for petrol, diesel, vehicle gas and HVO100 (Tank To Wheel) are based on data from the Swedish Energy Agency. LTI FR (Lost Time Injury Frequency Rate) The number of work accidents that lead to at least one day of sickness absence per million working hours. The reporting includes employed staff and the definition of occu- pational injuries is based on the “Target Zero” initiative. Operational definitions Installation/contracting The installation and refurbishment of technical systems in properties, facilities and infrastructure. Electrics Power supply, lighting, heaing, control and surveillance systems. Telecom and other low-voltage installations. Fire and intruder alarm products and systems, access control systems, CCTV and integrated security systems. Service Operation and maintenance, as well as minor refurbishment of installa- tions in buildings and facilities. Technical area heating & plumbing Water, wastewater, heating, sanita- tion, cooling and sprinkler systems. District heating and cooling. Industrial piping with expertise in all types of pipe welding. Energy saving through integrated energy systems. Ventilation and air conditioning Comfort ventilation and comfort cooling through air treatment, air conditioning and climate control. Commercial cooling in freezer and cold rooms. Process ventilation, control systems. Energy audits and energy efficiency through heat recovery ventilation, heat pumps, etc. Other Refers to other technical areas such as power, security, cooling, solar panels, energy optimisation, sprinklers, building automation and technical facility management. Financial definitions Adjusted EBITDA* Operating profit before scheduled depreciation and impairment, adjusted for gains on sale of subsidiaries. Improves the ability to compare over time by excluding items with irregularity in frequency or size. Average number of employees Calculated as the average number of employees during the year, taking account of the percentage of full-time employment. Basic earnings per share Profit/loss for the period attribut- able to shareholders of the parent company divided by the average number of outstanding ordinary shares. Capital structure (Net debt/EBITDA) Net debt divided by EBITDA, based on a rolling 12-month calculation. A healthy capital structure provides a solid basis for continued business operations. The capital structure should enable a high degree of financial flexibility and provide scope for acquisitions. Cash conversion* 1) Cash conversion, 12 months. Cash flow from operating activities adjusted for tax payments, net financial items and investments in machinery and equipment in relation to adjusted EBITDA. This key indicator measures the share of profit converted into cash flow. The purpose is to analyse what percentage of earnings can be converted into cash and cash equivalents and, in the longer term, the opportunity for investments, acquisitions and dividends, with the exception of interest-related cash flows. Diluted earnings per share Profit/loss for the period attributable to shareholders of the parent company divided by the average number of outstanding ordinary shares after dilution. EBITA* Operating profit before amortisation and write downs of non-current intangible assets. EBITA is the key indicator and performance metric used for internal operation- al monitoring. EBITA provides an overall view of profit generated by operating activities. EBITA margin* EBITA expressed as a percentage of net sales. EBITDA* Operating profit before scheduled depreciation and impairment. EBITDA is a measure that the Group regards as relevant for investors who want to understand earnings generation before investments in non-current assets. Equity/assets ratio Equity including non-controlling interests as a percentage of total assets. Equity per share, SEK Equity attributable to shareholders of the parent company divided by the number of ordinary shares outstanding at period end. Interest coverage ratio* Profit/loss after financial items plus interest expense, divided by interest expense. This key indicator is a measure of by how much earnings can fall without interest payments being jeopardised or by how much interest on borrowing can increase without operating profit turning negative. Net debt* Interest-bearing liabilities, (including lease liabilities, excluding pension liabilities) less cash and cash equivalents. This key indicator is a measure to show the Group’s total interest-bearing debt. Net financial items Total exchange differences on borrowing and cash and cash equivalents in foreign currency, other financial revenue and other finance costs. Net sales Net sales are recognised according to the principle of accounting over time, previous revenues are recognised as the projects are completed. Operating margin Operating profit/loss as a percentage of net sales. Operating profit/EBIT Earnings before net financial items and tax. Order backlog The value of remaining, not yet accrued project revenues from orders on hand at the end of the period. The order backlog does not include service operations, only installation projects. Order intake The value of new projects and contracts received, and changes in existing projects and contracts over the period in question. Includes both the installation business and the service business. Organic growth The change in sales adjusted for currency effects, as well as acquisi- tions and disposals compared with the same period in the previous year. Sales from acquisitions and divestments are eliminated for a period of 12 months from the date of acquisition or divestment. Return on equity 12-month rolling net profit/loss as a percentage of average equity. Working capital* Total current assets, excluding cash and cash equivalents, minus current liabilities excluding current provisions and interest-bearing short-term loans. This key indicator shows how much working capital is tied up in the business and may be set in relation to sales to understand how efficiently tied-up working capital is being used.
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THIS IS BRAVIDA 22BRAVIDA INTERIM REPORT JULY – SEPTEMBER 2026 This is Bravida Bravida is the partner that makes sure everything works – throughout the entire life cycle of the property – by providing everything from consulting advice and design to installation and service. By offering our customers resource-efficient solutions for properties and facilities of all sizes, Bravida plays an important role in the transition to an energy-smart society. Technology partner throughout the entire life cycle of the property Bravida helps customers create energy- efficient technical solutions for buildings and facilities of all sizes. We ensure the technology functions cohesively throughout the life cycle of the property – from planning and installation to operation, maintenance and renovation. Planning Installation Optimisation of daily operations Renovation Energy optimisation and upgrades Operations and maintenance Technical partner throughout the entire life cycle Our technical solutions Electrics Heating & plumbing HVAC Energy Management Power Cooling Technical Facility Management Critical Power Electric car charging Automation Solar panels Security Sprinklers This is what we do With sales just SEK 28 billion and about 13,000 employees, we are one of the Nordic region’s leading suppliers of end-to-end solutions for service and installation in properties and facilities. We install electricity, heating, plumbing, pipes, ventilation and numerous other energy-efficient technical solutions. We also provide extensive knowledge of and longstanding experience with design. With service and regular maintenance, we ensure that everything that needs to work, works – 24 hours a day, throughout the year. This is where we are located Our employees are the heart of Bravida’s organisation and it is we who together make things happen. We realise that local presence and close proximity to our 91,000 customers are central aspects for our business. That’s why we have a presence in 206 places across Sweden, Norway, Denmark and Finland.
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THIS IS BRAVIDA 23 BRAVIDA INTERIM REPORT JULY – SEPTEMBER 2026 Long-term and profitable growth The best customer offering Sustainable business operations The best team Bästa kunderbju- dandet Efficient delivery Shared culture Through our values and inspiring and driven leadership, we create a common corporate culture. Common working methods At Bravida, we develop shared working methods and a shared set of tools that are used throughout the business to run and further develop our operations. Common strategy Every part of the organisation works actively to execute our common strategy through our focus areas: the best customer offering, the best team, efficient production, sustainable business operations and long-term and profitable growth. The Bravida Way – we interact with the customer as one company Creating the right conditions for profitable growth is a key part of Bravida’s approach. We are selective and actively opt out of projects and customers that do not have the potential to be profitable, while striving to achieve the right balance between service and installation. The aim is for the longer-term service work to have a stabilising effect on our overall operations. Growing through acquisitions is a priority and is financed by our strong cash flows from operations. In every location in which we have a presence, we want to be our customers’ first choice and the most attractive employer. Bravida’s customer offering shall be unique and offer complete end-to-end solutions for the entire life cycle of properties. The best customer offering Bravida’s ability to offer end-to-end solutions in all technology areas is unique in terms of its scope. We continuously strengthen our competence and our local presence through wise acquisitions that further complement our offering. We are a close partner to our customers and there is always a focus on the customer, based on the values reliability, efficiency, safety and quality. Efficient delivery Those who choose Bravida meet an expert at every stage, from the provision of consulting advice and project design to installation and service. We work efficiently, are cost-conscious and make sure to keep good order, at our work - places and in our assignments. We stay at the forefront of technology and continuously develop our digital delivery capabilities through IoT. Sustainable business We are a close partner in our customers’ efforts to achieve their sustainability targets. With our solutions, we help create a more resilient society, today and for the future. At the same time, we strive to make our own business operations even more sustainable. The best team Our employees are at the heart of our organisation. Through our shared values, working methods, and mindset, we collaborate to build a sustainable and profitable future for our customers and ourselves. Long-term and profitable growth We aim to grow profitably, so we only accept projects and assignments with good margins. The primary objective for local branches is profitability, and only after that is growth prioritised. We also grow through acquisitions. Bravida’s objective is to be the largest or second-largest market participant in those places in which we choose to operate. Our strategy Our vision is to always deliver the experience of when it just works.
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Our vision is to always deliver the experience of when it just works Head office Bravida Holding AB (publ) 126 81 Stockholm Sweden Street address: Mikrofonvägen 28 Stockholm Telephone: +46 8 695 20 00 www.bravidagroup.com Sweden Bravida Sverige AB Mikrofonvägen 28 126 81 Stockholm Sweden Telephone: +46 8 695 20 00 www.bravida.com Norway Bravida Norge AS Lørenveien 73 0580 Oslo Norway Telephone: +47 2404 80 00 www.bravida.no Denmark Bravida Danmark A/S Park Allé 373 2605 Brøndby Denmark Telephone: +45 4322 1100 www.bravida.dk Finland Bravida Finland Oy Valimotie 21 00380 Helsinki Finland Telephone: +358 10 238 8000 www.bravida.fi