Annual report
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MOBILE LIVING MADE EASY ANNUAL AND SUSTAINABILITY REPORT 2025
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DOMETIC CASES Learn more about Dometic and get inspired by our ambassadors. Camping World Myrtle Beach Capt. Robert Trosset III – The Divemaster First-Time Parents Steff and Christian CONTENTS DOMETIC TODAY About Dometic 1 2025 in brief 2 Comments from the CEO 3 Five reasons to invest in Dometic 5 THE MARKET Market Trends 7 Dometic’ s total addressable market 8 TARGETS AND HOW WE CREATE VALUE Financial targets 11 Sustainability targets 12 How we create value 13 Dometic strategy 14 Profitable expansion in mobile living 15 Product leadership through innovation 20 Continuous cost reductions 22 Together, we build our future! 25 SUSTAINABILITY Empowering adventures and preserving nature 28 Sustainability platform 2030 29 Key sustainability highlights 30 THE SEGMENTS Land Vehicles 34 Marine 36 Mobile Cooling Solutions 37 Global Ventures 38 THE DOMETIC SHARE AND SHAREHOLDERS 39 BOARD OF DIRECTORS REPORT Introduction 41 Risks and risk management 48 Corporate governance report 51 Board of Directors 60 Group management 62 SUSTAINABILITY STATEMENT Introduction 64 General disclosures 65 Environmental disclosures 89 T axonomy 109 Social disclosures 112 Governance disclosures 122 FINANCIAL REPORTS AND NOTES Key ratios 129 Group financial statements 130 Parent Company financial statements 134 Notes 137 Proposed distribution of earnings 179 Auditor’ s report 180 Financial calendar 2026 185 1 2 3The statutory Annual Report comprises pages 43–179. The statutory Sustainability Report as required under the Swedish Annual Accounts Act is provided on pages 64–126. Comparative figures in brackets refer to the corresponding figures for the preceding year. DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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Dometic is a global outdoor technology company dedicated to making mobile living easy . Leveraging our core expertise in cooling, heating, power and electronics, mobility and space optimization, we enable more people to connect with nature and enjoy a greater sense of freedom outdoors. We do this by designing smart, sustainable and reliable products with outstanding design. Millions of people worldwide use our solutions while camping or exploring nature in RVs, boats and cars. Our portfolio includes installed products for land vehicles and boats, as well as standalone solutions for outdoor enthusiasts. 1) Before amortization and impairment of acquisition-related intangible assets and items affecting comparability . EBITA margin 20251) Net sales 2025, SEK bn (24.6) (10.8) 21.0 10.6% Number of employees worldwide, approx. 7 000 Countries, products sold in 100 Dometic is headquartered in Stockholm, Sweden, and its shares are listed on Nasdaq Stockholm Large Cap. 1DOMETIC TODAYDOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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Net sales by sales channel SEKm Net sales by geographic region Percent 2025 IN BRIEF In 2025, Dometic operated in a challenging market characterized by continued soft consumer demand and cautious purchasing behavior and inventory management across sales channels. Despite declining organic net sales, the EBITA1 margin was solid supported by an improved gross margin, continued efficiency initiatives and a favourable mix as a result of higher share of net sales in the Service & Aftermarket channel. Free cash flow remained good and contributed to further debt reductions. Unfa- vorable currency developments, particularly the weakening of the USD, increasingly weighed on earnings toward the end of the year. The global restructuring program launched in 2024 progressed accord- ing to plan, strengthening the foundation for long-term margin expansion by cost and efficiency measures mainly in the supply chain. The program’ s annual run-rate savings at year-end 2025 amounted to approximately SEK 350 m. Sustainability performance also advanced, with increased use of renewable energy , improved safety metrics, and a higher product innovation index. COMMENT 2025 2024 Net sales, SEKm 21,042 24,620 Operating profit (EBITA¹), SEK m 2,226 2,670 EBITA margin, % 10.6 10.8 Adjusted earnings per share², SEK 2.52 3.21 Profit for the period, SEK m 428 –2,303 Free cash flow, SEKm 1,445 2,304 Leverage ratio (net debt / EBITDA) 3.3× 3.1× Share of sales in Service & Aftermarket and Distribution, % 62 60 Product innovation index, % 23 21 CO2 emissions (scope 1 & 2) reduction vs. 2023 baseline, % change 32 23 1) Before amortization and impairment of acquisition-related intangible assets and excluding items affecting comparability 2) Adjusted for amortization and impairment of acquisition-related intangible assets and items affecting comparability Original Equipment Manufacturer, OEM, 39% (40) Service & Aftermarket, 29% (29) Distribution 32% (31) 2025 (2024) Americas, 59% (58) EMEA,34% (33) APAC, 7% (9) 2025 (2024) 20252024202320222021 Net Sales 21,04221,516 29,764 27,775 24,620 20252024202320222021 EBITA EBITA margin 3,348 3,931 3,463 2,670 2,226 16% 13% 12% 11% 10.6% 20252024202320222021 Free cash flow 196 458 3,111 2,304 1,445 Net Sales SEK m Free cash flow SEK m EBITA and EBITA margin1) SEK m 2DOMETIC TODAYDOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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RESILIENT MARGINS IN AN UNCERTAIN MARKET 2025 was another year of tough market conditions and declining demand in the outdoor industry . Retailers stayed cautious, keeping inventories low, while consumer sentiment remained weak. Still, positive signals emerged during the year: the sales decline eased, order intake improved, and certain channel inventories began to normalize. We continued to work relentlessly to mitigate the impact of lower sales, protecting margins through increased cost efficiency while also investing in growth initiatives to be ready when the market demand is back. Our end markets have been under pressure for several years and are currently trading near ten-year lows. Based on what we view as normalized demand, the North American and European markets for recrea- tional vehicles (RVs) remain roughly 15–20 percent below normal levels. The marine market shows a similar pattern. A significant number of RVs and boats were sold during the pandemic years, which suggests a growing pent-up demand for aftermarket products and upgrades as this fleet ages. After several years of declining demand, we are now beginning to see early , positive signals across different areas and are gradually shifting our organizational focus toward growth. At the same time, the broader environment remains uncertain, and we will safeguard the strong cost and efficiency culture we have built in recent years. Investing for growth This shift means strengthening our front-end sales capabilities, continuing to invest in world-class product development for outdoor enthusiasts, and expanding our service, parts, and accessories offering. Product development is central to our strategy and the most important driver for organic growth. Since 2018, our investments in this area have increased by nearly 70 per- cent, and our innovation index has risen to 23 percent, moving steadily toward our target of 25 percent. Innovation and new product momentum During the year, we launched several new products and received multiple industry awards, including recognition for the Dometic Gyro boat stabilizer. We introduced new series of active and passive cool- ers for the outdoor market, next-generation furnaces COMMENTS f ROM T hE CEO 3DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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for the RV industry , and new mobile power solutions, just to name a few. We also launched a range of after- market products aiming to grow our market share in the value segment and respond to the downtrading trend we have seen growing in recent years. To underscore the importance of returning to growth, we initiated nine Group-wide projects to drive and track important growth opportunities. While it is too early to say that we have passed the bottom of the demand cycle, we are preparing for the next growth phase. Strategy execution provides resilience A firm and consistent execution of the strategy we introduced in 2019 remains essential for our financial performance and for building the resilience needed to manage the declining market demand of recent years. The strategy focuses on profitable expansion in mobile living, product leadership through innovation and continuous cost reductions. Since its launch, we have grown the Group, created a more diversified and resilient sales mix and increased sales per full-time employee. At the same time, we have continued to strengthen our innovation capability by steadily increasing our R&D investments, positioning ourselves as a global leader in Outdoor T ech. Given the market conditions, we announced a global restructuring program at the very end of 2024. The program includes structural cost reductions to protect margins and free up resources for investment in strategic growth areas. By the end of 2025, it had generated SEK 350 m in positive annual run rate EBITA effects, and we remain on track to reach SEK 750 m by the end of 2026, when the program is fully imple- mented. Assuming market conditions remain similar to those at the time of launch, we are targeting an EBITA1) margin of 14 percent for the full year 2027 . Continued progress in repositioning of the Group Our transformation journey , shifting from a regional-led setup to a global, product led organization, continues to advance. The first major steps were taken in 2021 and 2022 with the creation of the global Marine and Mobile Cooling segments. In 2025, we continued this shift by consolidating our three regional Land Vehicles segments into one global Land Vehicles segment. This simplified structure strengthens our ability to prioritize resources and accelerate global product development, realize efficiencies across regions, and build a stronger foundation for becoming even more customer focused in the land vehicles industry . Resilient financial performance despite market headwinds Net sales declined organically by –8 percent in 2025 to SEK 21,042 m, due to subdued market conditions. Despite this, we delivered solid results with stable margins, supported by benefits from our global restructuring program and an improved sales mix, with a higher share coming from the Service & Aftermarket and Distribution sales channels. Shifting more of our business toward these channels is strategically impor- tant, as they offer higher margins and stability as well as recurring revenue compared with the OEM channel. In 2018, Service & Aftermarket and Distribution channels represented 38 percent of total sales; today it has increased to 61 percent. The gross margin improved to 29.2 percent (27 .7), and the EBITA1) margin remained stable at 10.6 percent (10.8), despite increasingly unfavorable currency effects toward year-end. Free cash flow remained strong at SEK 1,445 m, enabling further reduction of net debt which now is down more than 30 percent over the past three years. Working-capital discipline remains high across the organization, with net working capital as a share of net sales decreasing from 29 percent to 25 percent. The leverage ratio was 3.3× (3.1) at year-end, and we continue to work toward our target of around 2.5×. On sustainability , we achieved progress across all target areas. Injuries reached an all-time low, equality continues to improve, and our share of renewable energy exceeds our targets. The innovation index rose to 23 percent, which means we are developing new products with lower climate impact. Early in March 2026, geopolitical uncertainty escalated rapidly , increasing market volatility and con- tributing to early signs of softer demand. Against this backdrop, the Board took a precautionary decision to withdraw the previously communicated dividend proposal in order to preserve financial flexibility . Favorable long-term trends in Mobile Living Long-term trends in Mobile Living remain strong, supported by a growing global interest in outdoor life- styles. In the short term, however, uncertainties persist due to factors such as low consumer confidence and the volatile geopolitical environment. The most impor- tant trigger for our growth is confidence level among consumers; an improvement in consumer demand will lift the sentiment across all our industries. On the positive side, inventories in the recreational vehicles sales channels are now at more balanced levels, and production of new vehicles has been subdued for quite some time. This suggests that production will likely need to increase in several markets. On the negative side, geopolitical uncertainty , including potential tariffs, may affect the overall North American market. In the U.S. marine industry , many dealers still report excess inventory , while the European marine market appears more normalized. In this environment, we will continue to act pro- actively on short term market developments while relentlessly driving our strategic agenda to deliver on our targets. Finally , I would also like to express my sincere gratitude to all employees across the Group for their hard work and dedicated efforts throughout the year. Stockholm, March 2026 Juan Vargues President and CEO 1) Before amortization and impairment of acquisition-related intangi- ble assets and items affecting comparability . COMMENTS f ROM T hE CEO 4DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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FIVE REASONS TO INVEST IN DOMETIC Dometic has a history of more than 100 years and was listed on Nasdaq Stockholm in 2015. Since the listing, the initial main exposure to the Recreational Vehicle market has expanded into the marine industry and mobile cooling products, and the Service & Aftermarket sales channel has grown in importance. Building on its core competences and market‑leading positions, Dometic has increased net sales more than fourfold, driven by organic growth and by expanding its addressable market, while at the same time improving efficiency through the continuous industrialization of operations. ACTIVE ON A MARKET WITH LONG-TERM STRUCTURAL GROWTH IN MOBILE LIVING Underlying global market trends support long-term growth for Dometic. Outdoor living, mobility and sustainability are all growing global trends that create opportunities for expansion. Global growth trends, such as increased usage of outdoor products and innovation have resulted in steadily growing demand for Dometic’ s outdoor tech solutions and generated a foundation for continued profitable growth. Read more on page 7 GROWTH AND DIVERSIFICATION STRATEGY THAT CREATES IMPROVED STABILITY Investments in innovative products, branding and marketing, com- bined with an acquisitive agenda, have resulted in a business model that is well diversified in various geographic regions, products and customer segments, which improves stability . Expanding the Service & Aftermarket and Distribution and Sales channels gives a more balanced business mix. Volatility decreases and the margin improves by becoming more diverse and less dependent on the OEM business. The shift contributes to trans- forming Dometic into a more consumer-oriented company with a greater share of recurring sales of durable lower-ticket discretionary spend products. Read more on page 15 INDUSTRIALIZATION ADDS STABILITY AND SUPPORTS MARGIN RESILIENCE The increased industrialization of Dometic’ s operations reduces complexity and costs, leading to increased streamlining, efficiency and margins. A third global restructuring program was announced in 2024 that also includes to discontinue and/or divestment of non-strategic parts of the portfolio which will increase the focus on Dometic’ s strategic growth areas in Mobile Living. Read more on page 22 COMMITTED TO DRIVE SUSTAINABILITY As a market leader in Mobile Living solutions, Dometic is commit- ted to driving sustainability in the industry . This means offering innovative, durable, low-carbon products that inspire an active, comfortable and responsible life in the outdoors. Dometic has clear and measurable sustainability targets that contribute to the result. Read more on page 27 CLEAR AND VALUE-GENERATING FINANCIAL TARGETS 1) WITH AN ATTRACTIVE DIVIDEND POLICY 10 percent growth – Average annual net sales growth 18–19 percent profitability – EBITA margin2) of 18–19 percent 2.5× Leverage – Net debt to EBITDA leverage ratio of around 2.5× 40 percent Dividend – At least 40 percent of net profit Read more on page 11 1 2 3 4 5 1) Medium to long-term financial targets over a business cycle. 2) Before amortization and impairment of acquisition-related intangible assets and items affecting comparability . DOMETIC TODAY 5DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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THE MARKET DOMETIC DG3 GYRO BOAT STABILIZER AN ACTIVE, ELECTRIC GYROSCOPIC STABILIZER FOR RECREATIONAL BOATS, DESIGNED TO SIGNIFICANTLY REDUCE BOAT ROLL. ENGINEERED FOR SMOOTH, RELIABLE STABILIZATION IN CHALLENGING SEA CONDITIONS.
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STRONG GLOBAL MARKET TRENDS 4 THE WORLD IS BECOMING MORE MOBILE Demand for Mobile Living products is spreading to new age groups as interest in outdoor living grows. At the same time, mobile workplaces and new delivery trends are emerging. Impact on Dometic: Dometic plays a key role in these evolving trends through its technological expertise, global presence and broad product offering. Dometic operates in a global market undergoing transformation driven by several key trends. The Group leverages its leading position, global organization and core competencies to develop innovative products and solutions for consumers worldwide. Six major global trends have been identified that create opportunities for profitable growth in existing and new vertical markets. 1 INCREASED LEISURE SPENDING People are investing more time and money in outdoor activities. An active outdoor lifestyle is becoming increasingly popular, driven by urbanization and changing demographics. This broad range of outdoor enthusiasts creates opportunities, from adventurers going off-grid for extended periods to families using cars or boats for day trips and weekends. Impact on Dometic: By leveraging its technological expertise, Dometic offers a unique range of solutions for outdoor living, including both installed products in recreational vehicles and boats, as well as standalone products. 2 MARKET CONSOLIDATION Many markets remain fragmented and local with limited industrialization. Strong brands will lead in global markets, targeting well-informed consumers who demand high standards from both products and companies. Impact on Dometic: With its size and leading positions in key product areas, Dometic is well positioned to drive industry consolida- tion. Over time, this supports value-adding acquisitions to build global leadership with strong local presence. 3 INNOVATION IS BECOMING INCREASINGLY IMPORTANT Design, quality , sustainability , customer experience and connectivity are critical to staying competitive. The rapid growth of electric vehicles accelerates innovation in the Mobile Living market. Impact on Dometic: With its scale, established product develop- ment processes and close customer relationships, Dometic is well positioned to continuously develop products and solutions based on customer needs. 5 SUSTAINABILITY IS A REALITY Environmental regulations, customer requirements, electrification and changing travel habits drive demand for sustainable, recyclable and energy-efficient products. Impact on Dometic: As a pioneer in Mobile Living, Dometic is committed to sustainability by offering innovative, durable, low-carbon footprint products that promote an active, comfortable and responsible outdoor lifestyle. 6 DIGITALIZATION AND E-COMMERCE REVOLUTION Building a consumer-focused business model is a key competitive advantage in today’ s market, where consumers are well informed. Strong brands, seamless business flows and effective B2B and B2C e-commerce channels are essential. Impact on Dometic: Dometic has accelerated efforts to engage directly with consumers, developed ambassador programs, increased social media presence and invested in a global direct-to-consumer e-commerce platform, dometic.com Global market trends such as increased leisure spending and mobility support the long-term demand for Dometic’ s products. Dometic holds a unique global position with strong brands, lasting customer relationships and extensive market presence. Combined with continued investments in innovative outdoor technical products across all sales channels and with a focus on the consumer, this creates a solid foundation for long-term profitable growth, even though the market in recent years has shown a declining demand. THE MARkET 7DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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DOMETIC’S TOTAL ADDRESSABLE MARKET The six global trends influence the various vertical end- user markets where Dometic operates. Existing verti- cals, such as RV and Marine, are impacted by demand for sustainable solutions and new user preferences for flexibility and comfort. New verticals offer opportuni- ties for growth by applying core competencies across different applications. Dometic’ s total addressable market exceeds SEK 200 billion, with significant poten- tial in both established and emerging segments. A market larger than SEK 200 b Of Dometic’ s total addressable market, approximately 30 percent is in the end-user markets where Dometic traditionally was present (RV , CPV and Marine) and where the Group already has strong market-leading positions. These markets have historically been grow- ing 1–3 percent on an average annual basis, sometimes with large fluctuations between years. Approximately 50 percent of the addressable market is in the outdoor standalone area, a more stable and fast-growing market. For example, the camping equipment market in North America has shown accelerated growth for the past 15 years. Market trends and new innovations are also opening up opportunities for new growth areas in the vertical areas of Hospitality and Residential. >SEK 200 bn Dometic’ s total addressable market … to be used across several vertical end-user markets MARINE CPV – COMMERCIAL & PASSENGER VEHICLES RV – RECREATIONAL VEHICLES RESIDENTIAL HOSPITALITY FOOD & BEVERAGE CLIMATE POWER & CONTROL OTHER APPLICATIONS CORE COMPETENCES PRODUCT APPLICATION AREAS VERTICAL END-USER MARKETS COOLING HEATING POWER & ELECTRONICS MOBILITY SPACE OPTIMIZATION … to develop products and solutions in four major application areas … OUTDOOR STANDALONE Using our core competences … THE MARkET 8DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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FROM SERVICE COUNTERS TO SALES CONFIDENCE: CAMPING WORLD MYRTLE BEACH 1 2 3 Partnerships aren’t just about products, they’re about creating experiences that empower people. At Camping World’ s Myrtle Beach, South Carolina (U.S.) service center, a first-of-its-kind initiative is helping their staff connect with Dometic solutions in a way that transforms how they serve recreational vehicle (RV) customers. The idea was simple: give service and parts counter teams interactive displays and easy-to-use tools that show how Dometic products improve life on the road. By seeing and using these products themselves, service staff gain confidence and authentic insights they can share with customers. This pilot project is more than a showroom – it’ s a learning hub. Service staff can explore features, understand benefits, and discover simple ways to communicate value to RVers. The goal? Better conver- sations, stronger sales, and happier customers. Why it matters: • Interactive displays make product knowledge hands-on and engaging. • Direct experience builds trust and confidence in selling. • Clear selling tools simplify how benefits are explained to RVers. This is a test for both Camping World and Dometic. Success will be measured by results and by how employees feel about the tools provided. It’ s about creating confidence and connection: when employees understand the value of the products they support, customers benefit most — and that’ s a win for everyone. “Seeing is believing. Which is why the Camping World team can now experience Dometic products first hand.” Quick links to Dometic cases Read more stories DOMETIC AMBASSADORS 9DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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TARGETS AND HOW WE CREATE VALUE DOMETIC RECON SYSTEM MODULAR COOLER SYSTEM THAT CAN BE INTERLOC kED AND STACkED. kEEPS CONTENTS COLD FOR UP TO 8 DAYS AND IS UP TO 30% LIGHTER THAN kS TO ITS INJECTION-MOLDED, WELDED CONSTRUCTION.
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FINANCIAL TARGETS Medium to long-term financial targets over a business cycle 10% TARGET −15% 2025 ACTUAL 18 –19% TARGET 11% 2025 ACTUAL 2.5× TARGET 3.3× 2025 ACTUAL 40% TARGET -20,000 -10,000 0 10,000 20,000 30,000 40,000 25242322212019 SEK m % Net Sales Growth 21,042 -15% -20 -10 0 10 20 30 40 Operating profit (EBITA) Operating profit (EBITA) margin 0 1,000 2,000 3,000 4,000 25242322212019 SEK m % 2,226 10.6% 0 5 10 15 20 Net debt/EBITDA leverage ratio 0 1 2 3 4 25242322212019 Ratio (x) 3.3 GROWTH Average annual net sales growth including organic growth and M&A. PROFITABILITY Operating (EBITA) margin of 18–19 percent, before amortization and impairment of acquisition-related intangible assets and items affecting comparability . LEVERAGE Net debt to EBITDA leverage ratio around 2.5×. DIVIDEND Dividend of at least 40 percent of profit for the year. Outcome 2025 Net sales growth was –15 percent of which organic growth was –8 percent. Net sales growth for the last 5 years was 4 percent, impacted by challenging market conditions and lower market demand following the pandemic. Outcome 2025 Net debt to EBITDA leverage ratio was 3.3×, compared to 3.1× at the end of 2024. Average net debt to EBITDA leverage ratio 2019–2025 was 2.7×. Outcome 2025 The Board of Directors proposes that no dividend be paid for the financial year 2025. As geopolitical uncertainty escalated rapidly and market conditions became more volatile early in 2026, the Board took a precautionary decision to withdraw its previously communicated dividend proposal of SEK 1.00 per share in order to safeguard financial flexibility . Outcome 2025 The 2025 EBITA margin was impacted by lower net sales. Average EBITA margin 2019–2025 was 13.0 percent. Sales mix, product innovation and continuous measures to reduce cost and improve efficiency have supported margin resilience. Growth Net sales and growth Profitability EBITA and EBITA margin before items affecting comparability Dividend Pay-out ratio1) Leverage Net debt to EBITDA leverage ratio – % 2025 ACTUAL 0 40 80 120 160 25242322212019 % Dividend pay-out ratio, % 0 1) 2024 and proposal by Board of Directors for 2025 refers to adjusted profit for the year. TARGETS AND STRATEGY 11DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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INNOVATION AND SUSTAINABILITY TARGETS 1 1) New broader measurement specification from 2022 0 10 20 30 40 50 2524232221 Percent female managers % 31% Share of female managers Progress The share of female managers reached 31 (29) percent, exceeding the 2025 target. This achievement reinforces lead- ership diversity , which supports stronger decision-making and long-term business performance. 30% TARGET 31% 2025 ACTUAL FEMALE MANAGERS 0 1 2 3 4 2524232221 LTIFR, Injury rate/Million working hours Ratio 0.7 LTIFR Progress Safety is a top priority at Dometic. Lost Time Injury Frequency Rate improved to 0.7 (1.6), well exceeding the 2025 target of 1.5. This reflects Dometic’ s continued focus on safety , while ongoing efforts in training, prevention and risk management remain essential to sustain performance. <1.5 TARGET 0.7 2025 ACTUAL HEALTH AND SAFETY 0 10 20 30 2524232221 Product Innovation index % 23% Product innovation index Progress Dometic’ s aim is to ensure that new products have a lower climate impact and improved energy efficiency compared to previous models. The Product innovation index improved to 23 percent (21). 25% TARGET 23% 2025 ACTUAL PRODUCT INNOVATION INDEX 0 20 40 60 80 100 2524232221 New ESG audited DM suppliers % 64% Share of high-spend DM suppliers assessed for sustainability Progress Dometic assesses direct material (DM) suppliers with high spend on sustainability performance. In 2025, 64 percent have undergone a sustain- ability assessment, strengthening risk mitiga- tion and transparency in the value chain. This is a new target from the reporting year 2025 and provides broader coverage of suppliers than the previous target. >65% TARGET 64% 2025 ACTUAL SUSTAINABLE SOURCING Short and medium-term targets on innovation and sustainability -32% 0 20 40 60 80 100 2524232221 GHG emissions change vs. 2023 % Scope 1 and 2 GHG emissions reductions Progress Scope 1 and 2 greenhouse gas (GHG) emissions have been reduced by 32 percent from the 2023 baseline. This progress, driven by sourcing 36 percent renewable electricity , supports long-term climate commitments. CLIMATE CHANGE −25% TARGET −32% 2025 ACTUAL TARGETS AND STRATEGY 12DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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HOW WE CREATE VALUE Market • Well-diversified product offering and geographic spread. • Strong brands in many attractive markets and product groups. • Large installed base of products on the market. • Extensive Service & Aftermarket and Distribution network. STAKEHOLDER VALUESTRATEGY AND KEY ACTIVITIESGLOBAL MARKET TRENDS Profitable expansion in mobile living Product leadership through innovation Continuous cost reductions Building together We drive sustainability in our industry Financial • Track record of resilient margins and cash flow. • Clear and ambitious financial targets that support continued value creation. • Well-diversified and balanced financing structure. Sustainability • Clearly defined sustainability focus areas and targets, with ownership within Group Management. • Offering innovative, durable, low-carbon products that inspire an active, comfortable and responsible outdoor life. Employees and organization • Approx. 7 ,000 employees. • Sales offices in more than 30 countries. • 22 manufacturing and assembly sites in 11 countries. • Global teams established to secure structural improvements. ASSETS AND RESOURCES Long-term increased leisure spending Market consolidation Innovation is becoming increasingly important The world is becoming more mobile Sustainability is a reality Digitalization and e-commerce revolution Customers Innovative, sustainable, energy-efficient and reliable products with outstanding design Society A responsible company that promotes fair business and labor practices as well as resource efficiency throughout the value chain Employees Attract, develop, engage and retain talented employees Shareholders Profitable growth resulting in attractive total returns 1 4 5 6 2 3 TARGETS AND STRATEGY 13DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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DOMETIC STRATEGY To succeed in the mission of making mobile living easy , Dometic aims to deliver profitable growth through clearly defined priorities Profitable expansion in Mobile Living, Product leadership through inno- vation, and Continuous cost reductions. The foundation for all strategic work is “Building together,” recognizing that strategy execution relies on the collective commitment and teamwork of all employees. Sustainability remains a core part of the strategy and is embedded in both long-term thinking and day-to-day operations. Altogether, the strategy is designed to support Dometic reaching its long-term goal of delivering an EBITA margin of 18 - 19 percent, with a stepwise milestone of 14 percent by 2027 ( assuming market conditions equivalent to the ones in 2024). Dometic is committed to make mobile living easy by providing the best customer experiences through innovative, smart and reliable products with outstanding design. OUR VISION To be the true world leader, most successful and innovative provider of Outdoor T ech Living Solutions To lead in innovation and provide smart, reliable products with outstanding design that offer true added value to our customers To offer an attractive workplace to our employees SUSTAINABILITY OUR STRATEGY Common Values Global talent pool and development Employee engagement Common toolbox for execution Strong leadership skills at all levels of the organization BUILDING TOGETHER PROFITABLE EXPANSION IN MOBILE LIVING PRODUCT LEADERSHIP THROUGH INNOVATION CONTINUOUS COST REDUCTIONS TARGETS AND STRATEGY 14DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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A growing share of the population seeks time outdoors, using their cars, boats, or recreational vehicles as the hub of their outdoor experience. New consumer groups are entering the market, increasing the demand for products and solutions that make outdoor life convenient, flexible, and accessible. Products used outdoors for cooling, cooking and storage must be easy to use, energy efficient, and adaptable, and sustainable mobile power solutions are essential to support them. With a broad range of tech-enabled outdoor living products, Dometic holds a strong position in this growing Mobile Living market with significant opportunities to continue expanding into existing and new vertical end markets. Three main channels to reach the market Dometic operates through three primary sales channels: 1. Service & Aftermarket: Replacement products, upgrade products, spare parts, service & mainte- nance kits etc., sold via independent distributors, dealers and service providers, as well as through Dometic’ s own service organization. 2. Distribution: Primarily standalone products sold through physical and digital distributors and retailers, as well as Dometic’ s own B2C e-commerce dometic.com. 3. Original Equipment Manufacturer (OEM): Products for installation sold directly to manu- facturers of RVs, boats, or CPVs. OEM 39% OEM 61% Service & Aftermarket 29% Service & Aftermarket 28% Distribution 32% Distribution 11% NET SALES 2017 SEK 14.0 B NET SALES 2025 SEK 21Bn Distribution of net sales by sales channels, 2017 vs. 2025 The Service & Aftermarket and Distribution sales channels have grown in importance PROFITABLE EXPANSION IN MOBILE LIVING TARGETS AND STRATEGY 15DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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Shift in mix creates resilience Dometic is focused on growing its sales in the Service & Aftermarket and Distribution channels. Growth in these areas leads to a better balanced and more resilient business mix while also contributing to margin expansion. Exposure to these sales channels has increased in recent years as a result of acquisitions, organic initiatives including new product development and scaling of the B2C platform www.dometic.com. The OEM sales channel remains strategically important. It offers scale advantages and also creates Service & Aftermarket potential. Regardless of channel, Dometic develops solutions with the consumer in mind, creating “pull” throughout the value chain. Direct-to-consumer sales contribute to this by increasing consumer interaction and improving order and supply-chain efficiency . In 2025, net sales via dometic.com grew by 17 percent. 6 percent of Sales & Aftermarket and Distribution sales channels (i.e. non-OEM sales) was direct-to-consumer (DTC). The long-term ambition is to reach 20 percent of this share, supporting both growth and margin improvement. Increased demand for portable products Broader automotive trends, such as the rise of SUVs and family-oriented outdoor lifestyles, are expanding Dometic’ s addressable market. Many consumers now use their own vehicles to enjoy outdoor experiences spontaneously and effortlessly . Electrification and sustainability trends further reinforce this shift. Leveraging know-how from the RV and Marine industries, Dometic has developed and acquired portable products to serve these users. By increasing the share of flexible, vehicle-adjacent products, expo- sure shifts from high-ticket to lower-ticket discretionary sales while the potential customer base expands dra- matically from ~15 million registered RVs worldwide to more than 300 million registered vehicles suitable for outdoor use (RVs, SUVs, pickups and station wagons). Approximately 35 million new SUVs, station wagons, and pickups are sold annually , compared to historical RV production of 700,000–800,000 units per year. Dometic has also built a significant Mobile Power Solutions business, organically and through acquisitions, addressing a fast-growing market driven by electrification and sustainability . Investments in capabilities and an organizational structure dedicated to this segment will continue to drive global expansion as the customer base shares many characteristics regardless of geography . Maintenance and upgrade kits support future growth Dometic’ s large, and continuously growing, installed base across leisure and professional markets is an important driver of organic growth in the Service & With know-how from the RV and Marine industries, Dometic has created and acquired portable products designed to meet the needs of these users. Aftermarket sales channel. Replacement products, upgrades and spare parts create stable, recurring demand. Additional service offerings, such as preven- tive maintenance and modernization kits, strengthen customer relationships and support future growth. Increased technology content also drives service and aftermarket needs. Collaboration with OEMs is also critical to strong product development, as many new product launches are tied to OEM needs. OEM remains a key channel that provides scale, technology collaboration, and aftermarket opportunities, and Dometic has a strong position in OEM across RV , Marine and CPV . 20% Our ambition is to have 20 percent of the non-OEM business as DTC TARGETS AND STRATEGY 16DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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A managed acquisition pipeline A balanced mix of organic growth and strategic acquisitions continues to be critical in strengthening Dometic’ s global leadership. Carefully selected acquisitions have been instrumental in building today’ s footprint and will remain a source of synergies and scal- ability going forward. “Bolt-on” acquisitions enhance existing categories or expand local presence, while occasional larger “Transformational” acquisitions, such as Igloo in 2021, enable entry into new growth areas at critical scale. Dometic’ s industries still remain fragmented, and leading the consolidation provides long-term advantage. Allocation of capital toward M&A is how- ever governed by the Group’ s financial leverage, with a short-term focus on bringing leverage down. As leverage improves, carefully selected acquisitions will continue to support profitable expansion. While the central team manages the acquisition process and pipeline, the segments play a crucial role in identifying and evaluating targets as well as the integration of the completed acquisitions. M&A STRATEGY Selective and disciplined approach to acquisitions Bolt-on • Strengthen core technologies. • Build global platforms. • Increase local presence. • Gain access to distribution channels. • Create synergies and cost efficiencies. Transformational • Accelerate entry into new markets. • Platforms for growth (organic and additional bolt-ons). CRITERIA TYPE OF ACQUISITION Strategic • Exposure to markets with strong growth trends and attractive dynamics. • Strong market presence. • Preferably lower-ticket discretionary spend. • Service & Aftermarket exposure. • Aligned with Sustainability vision. • Add capabilities, strengthen product portfolio. Financial • Support Group financial targets. • Track record of profitable growth. • Synergy opportunities. Other • Dometic’ s capacity for successful integration. • Cultural fit. Complementary “Bolt-on” acquisitions play an important role in existing businesses to strengthen the offering or further increase local presence. In new growth areas, larger “Transformational” platform acquisitions will occasionally be crucial in order to become relevant to the market and gain a critical mass from which to expand. TARGETS AND STRATEGY 17DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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Aligning the portfolio Dometic continuously reviews its portfolio with respect to both acquisi- tions and divestments. All products – new and existing – must align with the strategy , particularly regarding Service & Aftermarket opportunities and long-term market growth potential. Strategy execution highlights • 5 percent net sales CAGR 2017–2025. • Sales share from Distribution and Service & Aftermarket 62 percent compared to 39 percent in 2018. • Direct-to-consumer net sales through the dometic.com platform grew 17 percent in 2025. Net sales development A combination of acquisitive and organic growth SEK b Acquired and organic growth 0 5 10 15 20 25 30 25242322212019181716151413121110090807060504030201 CAGR 6% CAGR 6% CAGR 6% CAGR 6% CAGR 5% CAGR 5% Prioritized acquisition opportunities • Service & Aftermarket. • Mobile power solutions. • Outdoor standalone equipment. • Marine products and solutions. Divestment opportunities • Non-strategic areas with low synergy opportunities. • Low-margin OEM-business with limited Service & Aftermarket sales opportunities. Continuous portfolio review • Aligned with Dometic strategy . • Positive market trends. • Build strong market positions globally . • Opportunity for high-margin expansion. • Generates Service & Aftermarket opportunities. • Consumer orientation. • In line with Sustainability vision. PORTFOLIO REVIEW Acquisition and divestment opportunities There is continuous strategic review of the existing portfolio, and Dometic is considering both acquisitions and divestments going forward. TARGETS AND STRATEGY 18DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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1 2 3Quick links to Dometic ambassadors Read more stories THE DIVEMASTER Capt. Robert Trosset III of Finz Dive & T ackle (finzdivecenter.com) leads SCUBA and snorkeling trips in the remote waters of Dry Tortugas National Park, a 70-mile crossing from Key West, Florida. Aboard his custom-built aluminum catamaran Park Shark, Robert offers an immersive experience, from tours of historic Fort Jefferson to exploring pristine underwater worlds. His boat showcases Dometic technology , including a DG3 Gyrostabilizer for the smoothest ride in ever-changing seas. The Park Shark also features Optimus Electric Power Steering, a Dometic climate control system, refrigerator/freezers, blinds and a Gravity Toilet for comfort. Advanced power management and lithium-ion batteries eliminate the need for a generator, ensuring quiet, eco-friendly voyages. Robert says the DG3 has been a game-changer: “It helps us land flat off waves and eliminates roll at anchor. I can run offshore in any weather knowing passengers enjoy a comfortable ride.” People come from around the world for diving and marine life, he says. “We take pride in delivering a first-class experi- ence they’ll never forget. Little touches, like relaxing in air conditioning or enjoying ice cream on deck, make it special. Dometic plays an important role in every voyage.” “This is a true boating adventure, but it doesn’t mean we have to leave the comforts of home behind.” “ DG3 has been a game-changer: I can run offshore in any weather knowing passengers enjoy a comfortable ride.” DOMETIC AMBASSADORS 19DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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Dometic continues to invest in innovation as a long- term driver of profitable growth. The form of innova- tion varies across segments: in some areas, innovation is driven by advanced engineering and technology development; in others, by design, usability , and functionality enhancements. Across all segments, deep consumer insight guides development. Innovation key driver for growth Dometic listens to both customers and consumers to understand expectations for products, solutions, delivery , support, and service, with the question “What does the end consumer really need?” as the guiding star for how our products, complete solutions, delivery , support and service can be improved. Early identification of relevant consumer benefits ensures integration in the product development process at the right quality and cost. Customer interaction for best results Close interaction with consumers and Dometic ambas- sadors also helps product developers navigate trade- offs between weight, size, performance, sustainability , and design. The product management organization plays a central role in market intelligence, idea gen- eration, product roadmaps, sales support, and full lifecycle management including product phase-in as well as phase-out. An active approach to building and protecting the IP portfolio gives benefits as it strengthens technology and design leadership, secures brand recognition and cost control, while allowing room for local adaptation. Investments in product innovation Investments in R&D, SEK m 2025 2018 350 590 69% Investments in product innovation have increased, and several new products were launched in 2025. R&D in percent of net sales is 2.6 percent supported by increased efficiency and a focus on global product platforms. PRODUCT LEADERSHIP THROUGH INNOVATION TARGETS AND STRATEGY 20DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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Global offerings within Land Vehicles, Marine, Mobile Cooling and Mobile Power Dometic aims to increase innovation while strength- ening competitiveness. This requires balancing global and regional product approaches to improve efficiency , flexibility , whilst reducing product com- plexity and time to market. A stronger global product dimension within the organization improves alignment between commercial and product strategies and enables platform-based development across shared customer bases. Global product areas – Land Vehicles, Marine Mobile Cooling and Mobile Power – with dedicated product managers ensure modularity , cost control, quality , sustainability , and reuse of components between products and projects. Dometic’ s four core technologies; electronics, connectivity , cooling, and mobile power, support customer offerings in the product areas. The Dometic Product Development Process (DPDP) provides structure for global develop- ment initiatives, prioritizing larger projects that drive significant market impact while expanding into new areas, especially standalone outdoor products. Dometic has also built a strong global position in mobile power solutions, offering products that enable renewable energy generation through solar panels, in combination with products for energy conversion and storage. Efforts are underway to adapt a compre- hensive part of the product portfolio to this offering for an enhanced and more sustainable consumer experience. Design for serviceability In addition to the focus on improving product perfor- mance, quality , and cost, Dometic has increasingly focused on developing products optimized for Service & Aftermarket. This includes designing for service- ability and creating products specifically tailored to aftermarket needs. Lifecycle thinking gives more sustainable products Dometic has strengthened its capabilities to drive sustainable product leadership, recognizing it as a critical differentiator and long-term value driver. Market studies indicate that consumers, especially younger ones, are willing to pay more for sustainable products. Integrating lifecycle thinking across the organization is essential to making sustainability a meaningful product attribute. Strategy execution highlights Products launched in 2025 include: • The innovative Dometic Gyrostabilizer DG3, as an entry into the important and growing vessel stabilizer segment • Dometic Recon, a stackable, modular cooling system of hard and soft mobile coolers with acces- sories engineered to lock together, stay cold for up to eight days, and adapt to any adventure • A next generation RV furnace, the Dometic 35K Furnace Essential • Dometic CFX5 – Dometic’ s most advanced portable electric cooler to date, as well as a new series of both hard and soft passive coolers Other highlights: • Dometic’ s innovation index improved to 23 percent (21) during 2025. • Investments in product development have increased 69 percent since 2018. • The IP portfolio has grown to more than 3,500 rights, more than doubling since 2018. • Net sales from products built on global platforms have increased significantly since 2018. TARGETS AND STRATEGY 21DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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Number of manufacturing sites Number T o strengthen competitiveness and support long- term profitable growth, cost reduction is a key pillar of the strategy . Efforts focus on reducing ineffi- ciencies and waste while leveraging automation and digitalization. As cost discipline has become embedded in the Dometic DNA, it provides a solid foundation for any profitable growth initiatives. A structured approach to reducing complexity … Dometic’ s scale and global scope bring advantages but also introduce complexity . Reducing unnecessary complexity improves agility , efficiency , and innovation. Initiatives target reductions in the number of suppliers, sites, legal entities, stockkeeping units (SKUs), and IT systems. A structured, cross-functional process guides opti- mization efforts. Initial steps include SKU reduction, supplier consolidation, and stronger category management. Later steps involve outsourcing non- core activities and consolidating sites. The final step is optimizing processes for sourcing, supply chain, lean methods, and automation. These steps are imple- mented in parallel based on differing timelines. … is giving tangible results Progress has been strong, particularly in SKU reduction and modular product design, which reduce cost and complexity . Strategic sourcing structures are coordi- nated centrally and are established in key areas such as electronics and compressors, whereas non-core 2025 2018 28 4 22 -31% The total number of manufacturing sites has been reduced from 28 in 2018 to 22 in 2025, including four sites added through acquisitions. This equals an underlying reduction of 31 percent. CONTINUOUS COST REDUCTIONS TARGETS AND STRATEGY 22DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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components and products are outsourced to external suppliers which provide improved flexibility and greater economies of scale. Sourcing offices in Mexico and Hungary complement the existing office in China to support the shift towards sourcing from low-cost countries. Clear ownership gets the job done Lean methods are essential to operational excellence, helping Dometic increase competitiveness and customer value with fewer resources by removing inefficiencies. Clear ownership of common processes enhances alignment across product development, manufacturing, logistics, sales, administration, and IT . Global key process owners have been appointed and they develop, lead and coordinate the implementation of common processes, training programs, and IT applications in their respective areas. Their focus on continuous improvement allows room for profitable growth initiatives. Continuous optimization of manufacturing and distribution Optimizing manufacturing is critical to achieving cost reductions. Key priorities are building abilities to be flexible, to manage seasonality and cyclicality , and to be asset-light. Actions include reducing vertical integration through outsourcing of non-core activities, consolidating manufacturing sites, evaluating shifting production to low-cost countries, adapting to changes in global trade policies and increasing automation and assembly near major markets. Dometic also works to reduce environmental impact across all parts of operations as well as the supply chain. Climate risks are identified and evaluated in the risk management process and thus included in the strategic planning. Closer relationship with strategic partners Dometic is reducing in-house manufacturing while increasing outsourced value. This includes standard- izing sourcing processes and reducing the number of suppliers. Instead, Dometic will be working more closely with a higher number of strategic partners, which leads to improved flexibility , reliability , quality , and sustainability . Successful restructuring programs The restructuring programs announced in 2019 and 2022 have been successfully completed, affecting 24 sites and 2,000 employees. In 2024, a new global restructuring program was launched targeting annual cost reductions of SEK 750 million by the end of 2026. This defined program includes further consolidation of sites and distribution centres during the course of 2025 and 2026. In connection with the Develop operations in steps Complexity reduction is the starting point for driving industrialization. The second step involves outsourcing of non-core activities and consolidation of sites. The third and final step is to optimize the structure through common processes. REDUCE COMPLEXITY-STEP 1 REDUCE COMPLEXITY-STEP 2 OPTIMIZATION1 2 3 LEAN EXCELLENCESUSTAINABILITY DIGITALIZATION OUTSOURCING NON-CORE PRODUCTION VALUE ANALYSIS/VALUE ENGINEERING LEAN AUTOMATION SOURCING EXCELLENCE SUPPLY CHAIN EXCELLENCE CONSOLIDATE SITES SKU REDUCTION 1) CATEGORY MANAGEMENT TRANSFER SUPPLIERS FROM HCC TO LCC 2) SUPPLIER REDUCTION 1) Stock Keeping Units. 2) High Cost Countries to Low Cost Countries. TARGETS AND STRATEGY 23DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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announcement of this program, Dometic introduced a positive stepwise milestone of 14 percent EBITA margin by 2027 on the path toward the long-term goal of 18–19%. Digitalization for improved efficiency Dometic is accelerating digitalization to automate processes and improve efficiency , customer service, and scalability . Implementation of seamless flow and coordination and optimization of the IT structure ena- bles more efficient coordination of support functions. Everything is done with the focus on how Dometic can serve existing and new customers across the world better and more efficiently . Key initiatives include: • Electronic data interchange (EDI) with major cus- tomers and suppliers to reduce transactional costs. • A global B2B solution to automate flows and reduce costs. • A global B2C solution to reach new customers. Artificial Intelligence as a growth supporter The role of AI within Dometic is evolving from a focus on governance and risk management to gradually becoming an enabler of growth, innovation and cost reductions. AI supports faster product development, enhanced design capabilities, improved marketing precision, and deeper customer insights. Generative AI further expands opportunities in areas such as soft- ware development, consumer interaction, and service solutions. In brief, used correctly , it is an opportunity for driving sales as well as cost reductions and efficiency . Dometic is building a comprehensive framework for AI usage, exploring applications across product design, software development, marketing, sales, and intellectual property . Each project is responsible for identifying use cases and implementing governance models to mitigate risks such as information leakage, IP challenges, and quality concerns. Strategy execution highlights • Net sales per full-time equivalent have increased by 27 percent since 2018 (48 percent since 2017) – a sign of increased efficiency . • Contractor share increased to 19 percent from 5 percent in 2018, which increases flexibility . • Manufacturing sites reduced from 28 in 2018 to 22 in 2025 (including four acquired sites). • Supplier count reduced by 36 percent com - pared to 2018. • The Global restructuring program 2024 reached annual run-rate savings of SEK 350 m at year-end 2025. LOGISTICS NETWORK The ability to have a flexible infrastructure, adapt quickly to seasonality and cyclicality , and be asset-light is key .Future manufacturing footprint structure MODULE FACTORIES Low component variety REGIONAL ASSEMBLY PLANTS LOCAL CUSTOMERS COMMON LCC SUPPLIER: MODULE AND COMPONENTS REGIONAL LOW-COST COUNTRY SUPPLIERS TARGETS AND STRATEGY 24DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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Our four Core Values provide guidance on who we are and what we represent. They help us align priorities and enable decentralized decision-making while building a “ONE Dometic” culture together. TOGETHER WE BUILD OUR FUTURE We win as a team. We are ONE Dometic. We inspire personal growth through a positive feedback culture. WE PLAY TO WIN We are passionate and competitive. We aim for excellence. We have fun delivering results. WE EMBRACE CHANGE We are curious, collaborative and consumer driven. We fail forward and learn quickly . We innovate and improve. WE WALK THE TALK We do what we say . We do the right thing. We care about our people and our planet. TOGETHER WE BUILD OUR FUTURE! TARGETS AND STRATEGY 25DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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Diversity, Equity and Inclusion Dometic believes that teamwork, including a shared sense of purpose and the willingness to take respon - sibility as individuals and as a Group, is essential for its success. Good teamwork will help make Dometic not only a successful company , but also a great place to work. Diversity is a strategic asset for Dometic and a key element of our competitive edge. Diversity is embraced to the fullest and is seen as crucial for com- pany success and motivation at work. Having a diverse workforce helps to acquire and retain the best talent, build employee engagement, enhance innovation and improve business performance. Diversity , equity and inclusion principles apply across the entire Group and cover all facets. Diversity is understood to mean respecting that each individual is unique, more perspectives enrich the culture, and Dometic fosters the ability to set aside personal prejudices. Dometic can only achieve its aspirations if employ- ees team up, live the core values and act consistently with the Group strategy . Dometic offers employees professional development and growth opportunities and embraces talent management and improved internal communication and interaction. Dometic’ s aim is to develop an organizational culture where taking ownership, acting like one global company and being innovative characterizes the corporate culture. This mindset will help cultivate collaboration and partnership that will foster involve- ment and participation among all employees. Together we build our future Dometic employees should show clear focus, develop their capabilities continuously and find passion in everything Dometic does in order to execute the Group strategy . The core values are not only guiding principles; they define how team members in Dometic operate, behave and interact. One of the most important pillars of sustainable and long-term organizational success is the systematic development of good leaders. Dometic believes in investing in leadership development and expects the efforts to have a positive effect on the bottom line. Leaders in Dometic manage rapid changes due to new technologies, politics, environmental concerns and unexpected events. Leaders need to be equipped and trained to be able to lead teams successfully and build organizational capacity for positive change. Acceleration of leadership development In order to strengthen the culture and foster an inclusive and effective leadership, Dometic has defined Strategic Growth Leadership as key during the continued transformation journey . This means a leader who: Thinks boldly and acts decisively to turn strategy into action while nurturing curiosity , adapt- ability and long-term value, and who aligns teams around clear priorities and fosters a culture of learning and execution. In order to develop Strategic Growth leadership throughout the Group, Dometic has invested heavily in leadership training through a suite of highly experiential training initiatives globally to strengthen these abilities. A newly developed internal leadership develop- ment program, ELEVATE, has been run in all our main regions (Americas, EMEA and APAC) with 60 partici- pants in 2025, of which 30 percent were women. Another key focus area for Dometic is to listen to feedback and input from our employees. The first global employee survey was conducted in 2019 and repeated in 2021,2023 and 2025. After every survey , Dometic works actively with the resulting action plans. Strategy execution highlights • A global re-organization of the Land Vehicles segment • A new global HR KPI dashboard • Continuous leadership development through expanded global leader- ship development structure. • 88 percent engagement rate in the employee engagement survey . 31% Share of female managers. A significant increase in recent years TARGETS AND STRATEGY 26DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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SUSTAINABILITY 2030 DOMETIC GO COMPACT CAMP SHELTER LIGHTWEIGHT AND STABLE ALUMINUM FRAME WITH SPRING-LOADED CONNECTORS. WATERPROOF, SOLUTION- DYED RIPSTOP POLYESTER PROVIDING UV PROTECTION AND HIGH DURABILITY. EASY TO TRANSPORT AND FITS IN A CAR TRUNK.
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Our sustainability commitment means creating innovative, durable, and low-carbon solutions that reduce impact and enhance enjoyment. By encouraging a conscious, active, and comfortable outdoor lifestyle, we help ensure freedom and responsibility go hand in hand. Behind every Dometic product stands a team committed to embedding sustainability at every level of the company . With Dometic, people can confidently explore nature, know- ing their choices support the development and manufacturing of innovative high-tech products and solutions with lower environmental and social impact, solutions that drive profitable growth, as well as sustainable development. With confidence that people want to choose sustainability , to foster a future where environmental impact is minimized and human rights are protected; Dometic is committed to enabling them to enjoy nature while preserving it and preserving societal values of respect, diversity , equity , inclusion and well-being. EMPOWERING ADVENTURES AND PRESERVING NATURE For further information on Dometic’ s sustainability policies, targets, and actions, refer to the Sustainability Statement on pages 64–126. Planet E: We aim to increase renewable electricity in our operations, reduce waste and avoid landfilling, use lower- GWP refrigerants, design products with lower energy consumption and higher recycled or renewable material content. People S: We ensure safe and healthy workplaces, promote fair and equal opportunities, foster diversity and inclusion, and uphold zero tolerance for child or forced labor. Governance G: Build a culture of integrity and ethical conduct. Protect whistleblowers and encourage transparency . Enforce anti- corruption and anti-bribery measures. Provide ongoing training and strengthen incident prevention. SUSTAINABILITY 28DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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SUSTAINABILITY PLATFORM 2030 Dometic places sustainability at the heart of its strategy , guided by a structured platform across Planet, People, and Governance, with clearly defined targets and ownership at the Group Management level. Implementation takes place through cross-functional teams. A set of sus- tainability metrics is integrated into the long-term incentive program. Dometic contributes to at least six United Nations Sustainable Development Goals (SDGs) in support of the 2030 Agenda for Sustainable Development. Dometic has near-term targets for Scope 1 and Scope 2. In 2025, absolute greenhouse gas emissions from own operations were reduced by 32 (23) per- cent compared with 2023 levels, exceeding the 2025 target. These results are mainly driven by powering production with 36 percent renewable electricity . Circularity is strengthened through a goal for 70 percent of new product development projects to have significant sustainability ambition and a commit- ment to divert a substantial share of operational waste from landfill. In 2025, the sustainability platform began a renewal phase. Key steps included strengthening sustainability governance, introducing a Sustainability Reporting Manual, improving data quality , and expanding reporting scope. These foun- dations mark the start of a multi-year journey to increase ambition and integrate sustainability across operations and value chain. The Sustainability Statement, from page 64 to 126, reflects this progress and outlines the roadmap ahead. Dometic prioritizes safe and diverse workplaces, with the Lost Time Injury Frequency Rate improving to 0.7 (1.6) in 2025, exceeding the LTIFR target for 2025, and continued progress in increasing the share of female managers. The company also advances its sustainability governance objectives, sustaining high levels of Code of Conduct awareness and strengthening sustainability assess- ments of key suppliers. Embedding sustainability through actions and clear commitments In 2025, the sustainability platform began a renewal phase. Key steps included strengthening sustainability governance, introducing a Sustainability Reporting Manual, improving data quality , and expanding reporting scope. These foundations mark the start of a multi-year journey to increase ambition and integrate sustainability across operations and value chain. The Sustainability Statement, from page 64–126, reflects this progress and outlines the roadmap ahead. Area Metric 2025 Actuals 2025 Target 2026 Target 2030 Target Planet E Percentage of renewable electricity in operations 36% 35% 45% 70% GHG emission reduction Scope 1 & 2 (vs 2023 baseline) 32% 25% 38% 45% Percentage of waste diverted from landfill 76% – 75% 90% Percentage of new product development projects with a significant sustainability ambition 36% 70% 70% 80% People S Lost Time Injury Frequency Rate (LTIFR) 0.7 1.5 1.0 <1.0 Percentage of female managers 31% 30% 30% 30% Governance G Percentage of employees completing Code of Conduct training 97% 100% 100% 100% Percentage of direct material suppliers that have signed the Code of Conduct 95% 100% 100% 100% Percentage of high-spend direct material suppliers assessed for sustainability 64% 65% 70% 95% SUSTAINABILITY 29DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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KEY SUSTAINABILITY HIGHLIGHTS Eleven Dometic minibar models have been recognized as ENERGY STAR® Most Efficient for the fourth year in a row in 2025, setting the standard for energy-efficient hospitality . Recon, a new modular cooler system, is designed for versatility and resource efficiency . Through advanced injection-molded construction, the coolers are significantly lighter than traditional models, reducing material use while maintaining durability and performance. Dometic launched the Dometic DG3 Gyrostabilizer, which uses 40% less power and features bearings that last three times longer than comparable products. Dometic’ s FreshJet rooftop air conditioners deliver up to 3,600 W of cooling capacity and reduce global warming potential by up to 70 percent compared with previous models. Operating at only 40 dB, they combine high efficiency with enhanced sleep comfort. 36% Dometic has continued to increase the share of renewable electricity across operations, reaching 36%, compared to 12% from baseline year 2023. 0.7 LTIFR In 2025, Dometic demonstrated significant progress in Environment, Health, and Safety (EHS) performance through proactive risk management and employee engagement, lowering the LTIFR to 0.7 from 1.6 in 2024. 31% Dometic has increased the share of female managers, to 31%, demonstrating the significance of gender equality in Dometic’ s workforce. 65% From March 2025, Dometic has gradually increased the recycled content of acrylic glass in windows, potentially cutting climate impact by up to 65% compared to conventional acrylic glass materials. RECON DG3 GYROSTABILIZER SUSTAINABILITY 30DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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1 2 3Quick links to Dometic cases Read more stories Adventure isn’t a trend, it’ s a growing lifestyle. Steff (Ukraine) and Christian (Swedish–Norwegian) grew up outdoors hiking, skiing, camping and building mem- ories around campfires. Steff recalls 1990s Ukraine as “a relaxed land of undocumented discovery ,” while Christian started motocross at four, later taking up skiing and cycling. They met in Slovenia during a cycling trip: Steff was traveling in a campervan, Christian with friends. Soon they were touring Norway under sunny skies and snow-covered peaks, sparking shared wanderlust. For years, they roamed Europe in an old Fiat Ducato, sleeping beside their bikes, sometimes roadside. As they planned for a baby , they realized the Ducato lacked comfort. Enter “campervan 2.0” with a Dometic 200 Ah lithium battery , DC-DC and shore- power chargers, a compressor fridge, and windows with roof vents for a true camper vibe. These upgrades let them stay off-grid longer and enjoy self-sufficient living, with a baby in tow. Today , intro- ducing their now one-year-old son to skiing, hiking and van camping across Scandinavia is part of their routine. “ Although we used to travel with cycling as our main priority , our son is now the focus. Once we have packed the van and taken off, life on the road with him gets simpler.” – Steff Gutovska FROM CYCLING ADVENTURES TO FAMILY ROAD TRIPS: FIRST-TIME PARENTS STEFF & CHRISTIAN DOMETIC AMBASSADORS 31DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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THE SEGMENTS FRONTRUNNER DOMETIC SLIMSPORT ROOF RACK THE SLIMSPORT IS IDEAL IF YOU WANT A SLEEK, AFFOR ‑ DABLE, LOW‑PROFILE ROOF RACK THAT STILL OFFERS EXCELLENT ACCESSORY COMPATIBILITY, DURABILITY AND QUIET PERFORMANCE.
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In 2025, Dometic had four reported segments: Land Vehicles, Marine, Mobile Cooling Solutions and Global Ventures. To simplify the organizational structure and realize synergies across different geographies, Dometic consolidated its three geographical Land Vehicle segments into one global Land Vehicles segment at the start of 2025. For transparency , net sales and EBITA for the former Land Vehicles Americas, Land Vehicles EMEA and Land Vehicles APAC are disclosed as additional information for 2025. SEGMENT STRUCTURE LAND VEHICLES Products and solutions for: Recreational vehicles (RV), Commercial and passenger vehicles (CPV), as well as standalone outdoor products. MARINE The complete product offering for customers in the Marine industry globally . GLOBAL VENTURES Mobile Power Solutions: The complete offering of mobile power products globally . Other Global Verticals: The Residential and Hospitality businesses globally . MOBILE COOLING SOLUTIONS Igloo and Dometic branded mobile cooling and drinkware products globally . Sales channels, share of segment’ s net sales Sales channels, share of segment’ s net sales Sales channels, share of segment’ s net sales Sales channels, share of segment’ s net sales 51% 59%38% 41% 1%, 3% 96% 29% 25% 46%11% Share of Group net sales Share of Group net sales Share of Group net sales Share of group net sales OEM Service & Aftermarket Distribution (44)44% (23)23% (24)24% (10)9% 0 20 40 60 80 100 0 20 40 60 80 100 0 20 40 60 80 100 0 20 40 60 80 100 33THE SEgMENTS DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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LAND VEHICLES Market and business summary The RV industry production in the US increased some- what in 2025, following 2024, which represented a 10-year low. Industry RV production in the EMEA and APAC regions decreased compared to 2024. Retailer inventory levels in EMEA, initially high at the start of the year, returned to more normal levels during the year. Overall, end-customer demand was negatively impacted by continued weakness in consumer confidence, partly due to uncertainties regarding trade policies in some markets. New product development to make mobile living easier remains a top priority . In 2025, this was demon- strated through several new products including the launch of FreshJet 5, a new generation of low-profile rooftop air conditioners for RVs, offering improved cooling performance and quieter operation. Dometic also introduced the 35K Furnace Essential, a compact and efficient RV furnace delivering high-performance heat. These innovations strengthen Dometic’ s position as a leader in comfort solutions for mobile living. Sales declined –9 percent on an organic basis, with decline in all three regions. Service & Aftermarket and Distribution sales channels accounted for 49 percent (48) of total Land Vehicles net sales. Despite net sales decline, the EBITA margin increased due to positive impact from structural cost reductions delivered by the Global Restructuring Program initiated at the end of 2024. The sales mix, with a higher share of sales in the Service & Aftermarket sales channel, was positive for the margin development. Around 2 percentage points of the organic sales decline were a result of certain discontinuations of low margin businesses such as large compressor refrigerator and cooking products in the RV segment. Offering, major products and markets • Products for manufacturers of Recreational Vehicles (RV OEM) and Commercial and Passenger Vehicles (CPV OEM). • Service & Aftermarket products for the RV and CPV markets. • Americas account for 32 percent of Land Vehicles’ sales, EMEA 58 percent and APAC 10 percent. • United States and Canada are the biggest markets in the Americas, Germany and the UK in EMEA and Australia and New Zealand are the biggest markets in the APAC region. • The major product categories include air conditioning, appliances and windows. • The three geographical L V segments were consolidated into a global segment. Land Vehicles Americas EMEA APAC 2023 2024 2025 2023 2024 2025 2023 2024 2025 2023 2024 2025 Net sales, SEK m 12,424 10,858 9,169 4,206 3,533 2,984 6,739 6,084 5,250 1,478 1,241 935 Net sales growth, % –9 –13 –16 –27 –16 –16 3 –10 –14 9 –16 –25 Organic growth, % –15 –13 –9 –16 –32 –7 –3 –10 –9 8 –15 –16 EBITA margin, %1) 7.4 6.1 7.3 –3.8 –6.7 –3.7 9.3 9.0 10.4 30.7 28.3 25.0 1) EBITA margin before amortization and impairment of acquisition-related intangible assets and items affecting comparability . The former Land Vehicles Americas, Land Vehicles EMEA and Land Vehicles APAC are disclosed as additional information for 2025. THE SEgMENTS 34DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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Sustainability Operations in the Americas have continued to run on 100 percent renewable electricity since 2024 and made substantial progress in diverting waste from landfills in 2025. In addition, significant product design improvements were introduced for packaging, vents and refrigerants. In the APAC region, the share of renewable energy increased through on-site solar generation and the purchase of energy certificates. Notable progress was achieved in shifting waste from landfills to incineration, as well as reducing workplace accidents through enhanced safety measures. In the EMEA region, extensive work was carried out on customer engagement and university collaborations across several sustainability projects, alongside continued efforts to expand renewable electricity usage. Furthermore, considerable product improvements were implemented, including reduced packaging and increased automation in production processes. Land Vehicles cont. Segment as a proportion of Group net sales Land Vehicles (total), 44% Rest of Group, 56% Land Vehicles Americas, 14% Land Vehicles EMEA, 25% Land Vehicles APAC, 4% THE SEgMENTS 35DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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MARINE 2025 2024 2023 Net sales, SEK m 4,814 5,571 6,492 Net sales growth, % –14 –14 1 Organic growth, % –6 –14 –4 EBITA margin, %1) 19.7 21.5 25.0 1) EBITA margin before amortization and impairment of acquisition-related intangible assets and items affecting comparability . Segment as a proportion of Group net salesKey figures Marine, 23% Rest of Group, 77% Market and business summary Production in the US boat industry , which is the segment’ s largest market, decreased further in 2025 compared to the 10-year-low level in 2024. This had a negative impact on industry demand and consequently also on Dometic’ s sales in the OEM sales channel. The production of larger boats in Europe however was more stable. High retailer inventory levels in the marine industry and lower consumer confidence impacted net sales in the Service & Aftermarket sales channel negatively . Service & Aftermarket accounted for 43 percent (42) of total net sales in the segment. A milestone was reached with the launch of the Dometic DG3 Gyrostabilizer, marking an entry into the fast-growing vessel stabilizer market. This innovative product uses advanced engineering and integrates seamlessly with Dometic’ s ecosystem to keep boats steady in waves and wakes, resulting in a safer ride that helps prevent seasickness and enhances comfort for everyone on board. The EBITA margin in 2025 remained high, how- ever declining as a result of the net sales decrease, but supported by cost reductions and investments in product innovation that are generating results. The sales mix, with a higher share of net sales in the Service & Aftermarket sales channel, was positive for the margin development. The Global restructuring program announced at the end of 2024 is expected to contribute to improved cost structure and financial performance in the segment. Sustainability The marine segment has made substantial progress in increasing recycling rates and reducing overall waste generation. In addition, it has continued to operate on 100 percent renewable electricity since 2024. Offering, major products and markets • Products for boat and boat engine manufacturers in the Marine industry globally . • Service & Aftermarket products for the Marine industry globally . • T argeting mainly leisure boats but the products are also used by commercial boats. • All types of outboard and inboard boats can use Dometic products and solutions. Typical boat sizes range between 15 to 45 feet. Also larger boats like yachts are in scope. • Main products are steering systems, air conditioning and fuel systems. • More than 75 percent of the segment’ s net sales were in North America. THE SEgMENTS 36DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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MOBILE COOLING SOLUTIONS 2025 2024 2023 Net sales, SEK m 5,087 5,824 6,243 Net sales growth, % –13 –7 –6 Organic growth, % –6 –7 –11 EBITA margin, %1) 7.6 9.2 8.8 1) EBITA margin before amortization and impairment of acquisition-related intangible assets and items affecting comparability . Key figures Mobile Cooling Solutions, 24% Rest of Group, 76% Market and business summary The consumer demand for the Igloo-branded portfolio remained healthy during the year, even though sales declined. The decline was partly due to manufacturing constraints driven by external factors for a limited time during the peak of the season, and retailers contin- uing their focus on keeping low inventories. Igloo maintained its US market-leading position in hardside coolers with a market share of more than 50 percent. Several new products were introduced during the year including the Dometic Recon series, a modular cooling system of hard, stackable coolers in a variety of different sizes and with significantly improved cooling performance; as well as a range of soft coolers, Dometic Unrestricted Collection, with insulated, carry-anywhere soft coolers that double as travel bags and everyday haulers. EBITA and margin were negatively impacted by lower sales volume, government mandated wage increases, the timing of mitigating actions to compen- sate for tariff costs and a positive one-time item in the prior year. Integration activities are progressing as planned. Utilizing combined technology skills, Igloo-branded active cooling boxes have been launched globally at the same time as Dometic-branded coolers have been introduced in the US market. With its own man- ufacturing facility in T exas, Igloo products are primarily manufactured in-house, which results in cost benefits, flexibility and short lead times for the important North American market, that makes up around 80 percent of the segment’ s total sales. Sustainability The Mobile Cooling segment has set 2030 targets for renewable energy share, emissions reduction and waste diversion with defined workstreams. The proposed 7 .7 MW on-site solar project will go live in January 2027 , covering approximately 14 percent of the electricity consumption of the segment. Offering, major products and markets • Mobile Cooling boxes and Drinkware products globally under the trademarks of Dometic and Igloo. • Dometic brand is positioned in the “Upper better” and “Best” product categories. • The Igloo brand is positioned in the “Good” and “Lower better” product categories while the pro- ducts are sold through retailers or e-commerce (DTC). • The main product categories are hard passive coolers, active (powered) hard coolers, soft passive coolers and drinkware. • More than 80 percent of the segment’ s net sales were in North America. Segment as a proportion of Group net sales THE SEgMENTS 37DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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GLOBAL VENTURES Global Ventures, 9% Rest of Group, 91% Global Ventures consists of the subsegments Mobile Power Solutions and Other Global Verticals. Mobile Power Solutions Through acquisitions made in recent years, Dometic has built a strong global position and presence in this area, providing a comprehensive suite of power solu- tions tailored for outdoor living. The product range includes solar panels and alternators for efficient power generation, advanced inverters and chargers for seamless power conversion, and a diverse selection of lithium batteries for reliable energy storage. With these solutions, outdoor enthusiasts can enjoy peace of mind and unparalleled freedom during their adven- tures, whether in a recreational vehicle, a boat, or out in nature. Other Global Verticals Other Global Verticals includes the Hospitality and Residential businesses. Hospitality is related primarily to the lodging industry , with the main products being in-room minibars and safety boxes. The strategy is to continue to address the lodging business, while also using Dometic technologies and products for new customer segments, such as in health care and elderly care institutions. Residential is related mainly to grills and outdoor kitchen solutions for the Residential outdoor market and is to a large extent the result of the 2021 acquisition of Twin Eagles, a leading US manufac- turer of predominantly freestanding and built-in grills. Market and business summary Net sales in subsegment Mobile Power Solutions declined mainly due to lower production in the RV industry , strict inventory management in the Service & Aftermarket sales channel and portfolio changes related to restructuring. In Other Global Verticals, organic net sales in both Hospitality and Residential increased. The EBITA margin for the segment improved slightly , mainly as result of good performance in Hospitality and Residential. Key figures Segment as a proportion of Group net sales 2025 2024 2023 Net sales, SEK m 1,971 2,368 2,616 Net sales growth, % –17 –9 –13 Organic growth, % –7 –10 –18 EBITA margin, %1) 11.8 11.4 14.1 1) EBITA margin before amortization and impairment of acquisition-related intangible assets and items affecting comparability . THE SEgMENTS 38DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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Shareholding by size Holding size No. of shares Capital, % Votes, % Number of known owners Share of known owners, % 1–100 283,888 0.1% 0.1% 7,730 44.0% 101–200 448,845 0.1% 0.1% 2,673 15.2% 201–300 302,263 0.1% 0.1% 1,144 6.5% 301–400 292,623 0.1% 0.1% 791 4.5% 401–500 354,644 0.1% 0.1% 737 4.2% 501–1,000 1,454,031 0.5% 0.5% 1,776 10.1% 1,001–2,000 1,709,484 0.5% 0.5% 1,084 6.2% 2,001–5,000 2,903,268 0.9% 0.9% 858 4.9% 5,001–10,000 2,542,359 0.8% 0.8% 334 1.9% 10,001–20,000 2,567,110 0.8% 0.8% 166 1.0% 20,001–50,000 3,686,289 1.2% 1.2% 111 0.6% 50,001–100,000 2,212,660 0.7% 0.7% 29 0.2% 100,001–500,000 14,324,304 4.5% 4.5% 63 0.4% 500,001–1,000,000 13,167,775 4.1% 4.1% 18 0.1% 1,000,001–5,000,000 50,600,166 15.8% 15.8% 24 0.1% 5,000,001–10,000,000 16,836,102 5.3% 5.3% 3 0.0% 10,000,001–20,000,000 96,463,365 30.2% 30.2% 7 0.0% 20,000,001– 87,286,687 27.3% 27.3% 4 0.0% Unknown holding size 22,064,130 6.9% 6.9% 0 0.0% Total 319,499,993 100% 100% 17,552 100% Source: Monitor by Modular Finance AB. Compiled and processed data from various sources, including Euroclear, Morningstar and the Swedish Financial Supervisory Authority (Finansinspektionen). Share price and trading Dometic’ s shares have been listed on Nasdaq Stockholm since Novem- ber 25, 2015, and the shares are traded on Large Cap. In 2025, the share price decreased by –10 percent (–42). The closing price was SEK 46.9 (52.0) on the last business day of the year, corresponding to a market capitalization of SEK 15.0 billion (16.6). The highest price paid in 2025 was SEK 61.0 (90.9) and the lowest price paid was SEK 31.2 (50.9). A total of 194.3 million shares (132.4) were traded during the year on Nasdaq Stockholm corresponding to an average daily trading volume of 527 ,319 shares (527 ,319). Share capital and capital structure As of December 31, 2025, the share capital amounted to SEK 798,750, divided into 319,499,933 shares. All shares are of the same class and carry equal rights in all respects. According to the Articles of Associa- tion, the company should have no less than 200,000,000 shares and no more than 800,000,000 shares. The share capital shall not be less than SEK 500,000 and not more than SEK 2,000,000. Dometic’ s shares are registered with Euroclear Sweden AB, which manages the Compa- ny’ s share register and registers shares for individuals. Dividend and dividend policy The Board of Directors of Dometic has adopted a dividend policy , according to which the Board of Directors aims to propose to the annual shareholders’ meeting that over a business cycle, at least 40 percent of the profit for the year shall be distributed to the shareholders. For further information, see “Proposed distribution of earnings” on page 179. THE DOMETIC SHARE AND SHAREHOLDERS 15 largest shareholders Shareholders Share capital, % Voting rights, % 1 NN Group N.V. 7.6% 7.6% 2 First Swedish National Pension Fund 7.0% 7.0% 3 Carnegie Fonder 6.4% 6.4% 4 Nordea Funds 6.4% 6.4% 5 Incentive AS 5.7% 5.7% 6 Swedbank Robur Fonder 5.6% 5.6% 7 Fourth Swedish National Pension Fund 5.1% 5.1% 8 Vanguard 4.1% 4.1% 9 Norges Bank Investment Management 3.4% 3.4% 10 Handelsbanken Fonder 3.4% 3.4% 11 Alecta Tjänstepension 3.4% 3.4% 12 Alcur Fonder 2.6% 2.6% 13 Harris Associates 1.9% 1.9% 14 BlackRock 1.8% 1.8% 15 Dimensional Fund Advisors 1.6% 1.6% Total top 15 66.0% 66.0% Others 34.0% 34.0% Total 100.0% 100.0% Source: Monitor by Modular Finance AB. Compiled and processed data from various sources, including Euroclear, Morningstar and the Swedish Financial Supervisory Authority (Finansinspektionen). THE SHARE 39DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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In March 2026, Dometic’ s Board of Directors decided to withdraw the previously communicated dividend proposal of SEK 1.00 per share. The decision was taken against the backdrop of recent geopolitical developments, which have increased economic uncertainty and volatility and may have a negative impact on consumer sentiment and demand for Dometic’ s products. In light of this, the Board of Directors considered it proactive and prudent to withdraw the dividend proposal in order to maintain financial flexibility . Shareholders On December 31, 2025, Dometic had 17 ,552 shareholders, according to the share register kept by Euroclear Sweden AB. The largest share- holder was NN Group N. V ., with 7 .6 percent of the shares. Dometic’ s ten largest shareholders held shares corresponding to 55 percent of the shares. Institutional owners held shares corresponding to 82 percent of the shares. Of the total number of shares, 39 percent was held by Swedish institutional owners. 7 percent was held by Swedish private individuals and the remaining 43 percent was held by foreign institutional owners, other and by unknown ownership. Foreign investors are not always recorded in the share register, as foreign banks and other custodians may be registered for one or several customers’ shares. This explains why the actual owners are not normally displayed in the register. SEK Number No. of shares traded per month (thousands) Dometic OMX Stockholm P I 0 5,000 10,000 15,000 20,000 25,000 30,000 20252024202320222021 0 30 60 90 120 150 180 Share price development 2020–2025 SEK Number No. of shares traded (thousands) Dometic OMX Stockholm P I DecNovOctJan Feb Mar Apr May Jun Jul Aug Sep 0 2,000 4,000 6,000 8,000 10,000 12,000 0 40 80 120 160 Share price development 2025Owner type distribution Owner type No. of shares Capital, % Votes, % Number of known owners Share of known owners, % Foreign institutional owners 137,313,462 43.0% 43.0% 120 0.7% Swedish institutional owners 124,528,901 39.0% 39.0% 80 0.5% Swedish private individuals 22,991,640 7.2% 7.2% 16,512 94.1% Unknown owner type 22,064,130 6.9% 6.9% 0 0.0% Other 12,601,860 3.9% 3.9% 840 4.8% Total 319,499,993 100.0% 100.0% 19 264 100.0% Source: Monitor by Modular Finance AB. Compiled and processed data from various sources, including Euroclear, Morningstar and the Swedish Financial Supervisory Authority (Finansinspektionen). Country distribution Country No. of shares Capital, % Votes, % Number of known owners Share of known owners, % Sweden 155,596,111 48.7% 48.7% 17,030 97.0% United States 46,035,200 14.4% 14.4% 80 0.5% Norway 37,971,836 11.9% 11.9% 62 0.4% Netherlands 24,261,987 7.6% 7.6% 11 0.1% Finland 21,926,171 6.9% 6.9% 104 0.6% Other 11,644,558 3.6% 3.6% 265 1.5% Unknown country 22,064,130 6.9% 6.9% 0 0.0% Total 319,499,993 100.0% 100.0% 17,552 100.0% Source: Monitor by Modular Finance AB. Compiled and processed data from various sources, including Euroclear, Morningstar and the Swedish Financial Supervisory Authority (Finansinspektionen). ABG Sundal Collier Fredrik Ivarsson Berenberg Trion Reid DNB Carnegie Henrik Christiansson Analyst coverage At the end of 2025, the following analysts had active coverage of Dometic: Danske Bank Daniel Schmidt Jefferies Rizk Maidi Kepler Cheuvreux Mats Liss Nordea Agnieszka Vilela Pareto Alexander Siljeström SB1 Markets SEB Enskilda Johan Eliason Gustav Hageus THE SHARE 40DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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BOARD OF DIRECTORS’ REPORT DOMETIC MODULAR DRINKWARE UNIQUE INSULATED BOTTLE SYSTEM WITH 400+ COMBINATIONS, 90% RECYCLED STEEL, COPPER INSULATION, AND VACUUM TECHNOLOGY FOR LONG-LASTING TEMPERATURE RETENTION. LEAK-PROOF, BPA-FREE, AND DURABLE.
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BOARD OF DIRECTORS’ REPORT 43 Risks and risk management 48 Corporate governance report 51 Board of directors 60 Group management 62 Sustainability Statement 64 FINANCIAL REPORTS Key ratios 129 Consolidated income statement 130 Consolidated statement of comprehensive income 130 Consolidated balance sheet 131 Consolidated statement of changes in equity 132 Consolidated statement of cash flow 133 Parent company income statement 134 Parent company statement of comprehensive income 134 Parent company balance sheet 135 Parent company statement of changes in equity 136 Parent company statement of cash flow 136 CONTENTS NOTE 1 General information 137 NOTE 2 Summary of material accounting policies 137 NOTE 3 Financial risk management and financial instruments 141 NOTE 4 Critical accounting estimates and assumptions 146 NOTE 5 Segment information 148 NOTE 6 Net sales and operating profit 150 NOTE 7 Audit fees 152 NOTE 8 Leasing agreements 153 NOTE 9 Employee benefit expense and remuneration 154 NOTE 10 Other operating income and expenses 156 NOTE 11 Financial income and expenses 156 NOTE 12 T axes 157 NOTE 13 Other non-current assets 159 NOTE 14 Intangible assets 159 NOTE 15 T angible fixed assets 162 NOTE 16 Inventories 163 NOTE 17 Trade Receivables 163 NOTE 18 Prepaid expenses and accrued income 164 NOTE 19 Provisions for pensions 165 NOTE 20 Other provisions 167 NOTE 21 Liabilities to credit institutions 168 NOTE 22 Accrued expenses and prepaid income 170 NOTE 23 Pledged assets 170 NOTE 24 Contingent liabilities 170 NOTE 25 Cash flow details 170 NOTE 26 Shares in subsidiaries 173 NOTE 27 Transactions with related parties 174 NOTE 28 Earnings per share and proposed distribution of earnings 175 NOTE 29 Business combinations 176 NOTE 30 Significant events after the reporting period 176 NOTE 31 Definitions 177 CONTENTS 42DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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BOARD OF DIRECTORS’ REPORT The Board of Directors and the President and CEO of Dometic Group AB (publ) registration number 556829- 4390 (the “ Company” or the “parent Company”), hereby submit the following Annual Report, including the Sustainability and Corporate Governance Reports, together with the Consolidated Financial Statements and the Parent Company Financial Statements for the financial year 2025. Business and organization Dometic and its subsidiaries jointly known as the Dometic Group (“Dometic”, the “Group”, or the “Dometic Group”) is a global outdoor tech company on a mission to make mobile living easy . Leveraging Dometic’ s core expertise in cooling, heating, power & electronics, mobility , and space optimiza- tion, more people are empowered to connect with nature and elevate their sense of freedom in the outdoors. This is achieved by creating smart, sustainable, and reliable prod- ucts with outstanding design. Millions of people around the world use Dometic’ s products while camping and exploring nature with their cars, RVs or boats. The range of offerings includes installed products for land vehicles and boats, as well as standalone solutions for outdoor enthusiasts. Dometic employs approximately 7 ,000 people worldwide, had net sales of SEK 21 billion in 2025 and is headquartered in Stockholm, Sweden. Dometic operates 22 manufacturing and assembly sites in 11 countries with sales in approximately 100 countries. The Group is organized into four segments: Land Vehicles, Marine, Mobile Cooling Solutions and Global Ventures. Significant events in the fiscal year Refinancing Dometic issued bonds on two occasions during 2025 in order to refinance existing indebtedness and to broaden the Group’ s sources of funding. In the first quarter Dometic issued SEK 2.5 billion in the Swedish krona bond market. The bonds were issued across three tranches consisting of a 3-year Floating Rate Note with a coupon of 3m Stibor +275bps, a 3-year Fixed Rate Note with a coupon of 4.925% and a 5-year Floating Rate note with a coupon of 3m Stibor +325bps. In the third quarter Dometic issued a EUR 300 m bond with a 5-year maturity and a fixed rate of 5.00 percent. Both bonds bond were issued under Dometic’ s EUR 1,500 m EMTN (Euro Medium T erm Note) program. Global restructuring program Considering the lower market demand in recent years and increased competition in certain product categories, par- ticularly within the Land Vehicle Americas segment, Dometic initiated a strategic review of its product portfolio and consequently announced a global restructuring program at the end of 2024. The program aims to support margin expansion and free up resources to invest in and drive profitable growth in strategic focus areas. It includes both portfolio adjustments and structural cost reductions. Portfolio changes involve exploring divestment oppor- tunities and/or discontinuing non strategic businesses. This includes low margin operations and areas with limited or no synergies with the rest of the portfolio. Total annual net sales for businesses to be discontinued amount to around SEK 800 m. Total annual net sales for businesses where divestment opportunities are being explored amount to SEK 1,500–3,000 m. The program is expected to have an annual positive impact on EBITA1) of approximately SEK 750 million when fully implemented by the end of 2026. Restructuring charges of SEK 1,200 m related to the program were reported in full in the fourth quarter of 2024 as items affecting comparability . Since the start of the program, approximately 300 employees have been affected, and one manufacturing site and two distribution centers have been closed. Annual run rate savings at the end of 2025 amounted to approximately SEK 350 million, and cash outflows related to restructuring charges in 2025 were SEK 212 m. The impact on net sales from portfolio changes was –1 percentage point. Macroeconomic environment The current macroeconomic situation continues to create uncertainty . It is difficult to predict how geopolitical devel- opments, including potential changes to import tariffs in the US, may impact operations. Dometic will remain proactive and respond to developments while continuing to relent- lessly drive the strategic agenda to deliver on its targets. Lawsuit filed by ACON As communicated before, ACON, the seller of Igloo, filed a lawsuit against Dometic in 2022, making certain claims related to the Stock Purchase Agreement (“SPA”). Dometic is confident that the lawsuit lacks any merit, is vehemently contesting this lawsuit and has filed counterclaims against ACON related to its conduct under, and non-compliance with, the SPA. Trial is expected to take place in March 2026. Putative class action complaints In 2025, two putative class action lawsuits (“Lieber et al. v. Igloo Products Corp.” and “Strauss v. Igloo Products Corp.”) were filed against Igloo Products Corp. relating to the labelling on certain Igloo-brand coolers. These lawsuits have since been consolidated into a single action and Igloo intends to vigorously dispute the allegations raised in the consolidated action. Multiple putative class action complaints were filed against Igloo Products Corp. in US federal courts relating to Igloo’ s 90 QT Rolling Coolers (“Coolers”). These lawsuits followed Igloo’ s announcement in February 2025 of a voluntary recall of approximately 1 million Coolers. The voluntary recall was instituted to mitigate the potential risk of the tow handle pinching consumers’ fingertips against the Cooler. Igloo is providing consumers with a replacement handle at no cost to mitigate this risk. The lawsuits have since been consoli- dated into a single action, and Igloo intends to vigorously dispute the allegations raised in the consolidated action. Other legal matters In 2025, Igloo received notice of an investigation and possi- bility of enforcement action by the U.S. Consumer Product Safety Commission (“CPSC”) related to Igloo’ s compliance with the reporting requirements under the Consumer Product Safety Act with respect to the Coolers. Igloo is cooperating fully with the CPSC investigation. Organization To simplify the organizational structure and to secure syn- ergy realization across the different geographies, Dometic changed its Land Vehicles organizational structure. The three former regional Land Vehicles segments – Americas, EMEA and APAC – were consolidated into one reported global Land Vehicles segment. Changes in Group Management In November 2025, Stefan Fristedt, Chief Financial Officer, announced his decision to leave the Dometic. He will remain in his position until April 2026. Goran Popovski was appointed Head of the newly formed Land Vehicles segment. He will be a member of Group Management and will assume his position on January 1, 2026. 1) Before amortization and impairment of acquisition-related intangible assets and items affecting comparability BOARD OF DIRECTORS’ REPORT 43DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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Acquisitions There were no acquisitions in 2025. Business, result and financial position 2025 was a year impacted by continued restrained con- sumer spending and customers continuing to be cautious with their inventory levels. Due to these challenging market conditions, full year organic net sales declined –8%. To counteract the market effects, a key priority was to reduce costs and increase efficiency by the execution of the Global Restructuring Program. The program includes capacity adjustments, reduction of manufacturing and warehouse sites and exits of non-core product areas or product areas with insufficient profitability . The program also frees up resources that instead will be utilized to invest in areas with growth potential, such as product development and sales capabilities. The product innovation index, which shows the share of sales coming from products launched in the past three years, improved to 23% (21). The full-year EBITA1) margin remained high, amounting to 10.6% (10.8) despite the lower volumes, as well as the unfavorable impact from changes in exchange rates, particularly the weakening of the USD, which became more pronounced toward the end of the year. Earnings per share were SEK 1.34 (–7 .21). Adjusted earnings per share were SEK 2.52 (3.21). Free cash flow remained solid and amounted to SEK 1,445 m (2,304), supporting further reduction of the net debt. The Net debt to EBITDA leverage ratio was 3.3x (3.1x) at year end. Net sales Net sales were SEK 21,042 m (24,620). Total growth was a decrease of –15%, of which –8% was organic growth, –6% currency translation, and –1% impact from portfolio changes related to the ongoing Global restructuring program. Organic net sales decreased in the OEM sales channel by –12%, in the Service & Aftermarket sales channel by –6%, and in the Distribution sales channel by –4%. Segment Land Vehicles reported net sales of SEK 9,169 m (10,858), representing 44% (44) of Group net sales in 2025. Total growth was –16%, of which –9% was organic, –5% currency translation and –1% portfolio changes related to the ongoing Global Restructuring Program. Organic net sales declined across all regions and sales channels, primarily due to lower demand in the OEM sales channel. In EMEA, the Service & Aftermarket sales channel was relatively stable, while in the Americas the OEM sales channel had the lowest rate of decline. Segment Marine reported net sales of SEK 4,814 m (5,571), representing 23% (23) of Group net sales in 2025. Total growth was –14%, of which –6% was organic and –7% was currency translation. The organic net sales decline was attributable to both sales channels; however, the Service & Aftermarket sales channel was relatively more stable com- pared to the OEM sales channel. Segment Mobile Cooling Solutions reported net sales of SEK 5,087 m (5,824), representing 24% (24) of Group net sales in 2025. Total growth was –13%, of which –6% was organic and –7% currency translation. Just about all net sales in Mobile Cooling Solutions are attributable to the Distribu- tion sales channel. Segment Global Ventures reported net sales of SEK 1,971 m (2,368), representing 9% (10) of Group net sales in 2025. Total growth was –17%, of which –7% was organic growth, –6% currency translation and –4% portfolio changes. Organic net sales in subsegment Other Global Verticals increased while organic net sales in subsegment Mobile Power Solutions declined mainly due to lower demand in the OEM sales channel. Gross profit The gross profit for the Group was SEK 6,136 m (6,820) and the gross margin increased 29.2% (27 .7), driven mainly by favourable mix as well as cost and efficiency measures. Sales and administration Sales and administrative expenses were SEK –3,325 m (–3,645). The expenses amounted to 15.8% (14.8) of net sales. Research and development Research and development expenses were SEK –558 m (–587). In addition, R&D expenses of SEK –32 m (–42) were capitalized during the year. In total, this corresponds to 2.8% (2.6) of net sales. Operating profit (EBITA 1)) EBITA1) was SEK 2,234 m (2,670), corresponding to a mar- gin of 10.6% (10.8). EBITA1) and EBITA margin were impacted by unfavorable currency effects. Sales and administrative expenses as well as research and development expenses declined, but as a percentage of net sales they increased. Items affecting comparability Items affecting comparability were SEK –8 m (–1,200). Prior-year costs were mainly related to the Global Restructur- ing Program announced in December 2024. Amortization and impairment of acquisition -related intangible assets Amortization and impairment of acquisition-related intangi- ble assets were SEK –526 m (–2,593, including a goodwill impairment of SEK –2,000 m). Operating profit (EBIT) Operating profit (EBIT) was SEK 1,700 m (–1,123, including a goodwill impairment of SEK –2,000 m), corresponding to a margin of 8.1% (–4.6). Operating profit (EBITA 1) and EBIT) by segment Land Vehicles: Operating profit (EBITA1)) amounted to SEK 667 m (664), corresponding to a margin of 7 .3% (6.1). The impact of lower net sales was mitigated by cost reduc- tions under the Global Restructuring Program and a sales mix with a higher share of Service & Aftermarket net sales compared to the previous year. Items affecting comparability in 2025 were –5 m (–983 in the previous year related to the Global Restructuring Program). The EBITA-margin improved in Americas and EMEA, while the margin in APAC was lower. Operating profit (EBIT) was SEK 538 m (–2,456), corresponding to a margin of 5.9% (–22.6). 2024 was negatively impacted by a non cash goodwill impairment of SEK –2,000 m. Marine: Operating profit (EBITA1)) was SEK 947 m (1,198), corresponding to a margin of 19.7% (21.5). The decline was due to lower net sales, partly offset by cost reductions, a higher share of Service & Aftermarket net sales, and unfavorable currency impact from the weaker USD. Operating profit (EBIT) was SEK 762 m (897), corresponding to a margin of 15.8% (16.1). There were no items affecting comparability in 2025, while 2024 included items affecting comparability of SEK –100 m. Mobile Cooling Solutions: Operating profit (EBITA1)) was SEK 387 m (538), corresponding to a margin of 7 .6% (9.2). EBITA and margin were negatively impacted by lower sales volume, government mandated wage increases, and the timing of mitigating actions to compensate for tariff costs, in addition to the absence of last year’ s positive one time item of SEK 63 m. Items affecting comparability was SEK –4 m (–54 related to the Global Restructuring Program). Operating profit (EBIT) was SEK 224 m (297), corresponding to a margin of 4.4% (5.1). Global Ventures: Operating profit (EBITA1)) was SEK 234 m (271), corresponding to a margin of 11.8% (11.4). The decline was related to Mobile Power Solutions due to lower net sales mainly in the OEM sales channel. There were no items affecting comparability in 2025, while 2024 included items affecting comparability of SEK –63 m and were related to the Global Restructuring Program announced 2024. Operating profit (EBIT) was SEK 176 m (139), corresponding to a margin of 8.9% (5.9%). 1) Before amortization and impairment of acquisition-related intangible assets and items affecting comparability BOARD OF DIRECTORS’ REPORT 44DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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Financial items Financial items a net amount of SEK –850 m (–847), whereof SEK –814 m (–838) in interest on external bank and bond loans. Other FX revaluations and other items amounted to SEK –245 m (–160) and financial income amounted to SEK 208 m (151). Taxes T axes totaled SEK –422 m (–332), corresponding to 50% (–17) of profit before tax. The tax rate is negatively affected by non-deductible interest expenses in Sweden and a tax provision for ongoing tax audits. Current tax amounted to SEK –354 m (–724) and deferred tax to SEK –68 m (392). Paid tax was SEK –513 m (–740) corresponding to a paid tax rate of 60% (–38). Deferred tax recognized in the balance sheet on tax losses amounted to SEK 831 m, of which SEK 144 m has been recognized during the year. The recog- nition is supported by future utilization based on forecasts. Profit for the period Profit for the period was SEK 428 m (–2,303). Cash flow Cash flow was SEK 1,413 m (–195). The improvement was largely due to the net of raised and repaid long-term borrowings. Net cash flow from operating activities was SEK 2,839 m (3,869). Net cash flow from investments was SEK –331 m (–519) of which SEK 0 m (–159) were payments of deferred considerations related to acquisitions completed previous years and SEK –362 m (–379) related to investments in intangible and tangible assets. Net cash flow from financing was SEK –1,096 m (–3,545). The net of paid and received interest was SEK –727 m (–854). The cash flow effect from short-term borrowings was SEK –92 m (389). Dividend paid to shareholders was SEK –415 m (–607). Free cash flow was SEK 1,445 m (2,304). The decline was driven by lower net cash flow from operating activities. Average core working capital in relation to net sales amounted to 25% (29). Investments Total investments in intangible and tangible fixed assets amounted to SEK 362 m (379), corresponding to 1.8% (1.5) of net sales. Investments in tangible fixed assets amounted to SEK 296 m (312), of which SEK 78 m (80) refers to machinery , equip- ment, and tools, SEK 3 m (7) to buildings, and SEK 215 m (225) to construction in progress and advance payments. Investments in intangible fixed assets amounted to SEK 66 m (67). Payments of deferred considerations related to acquisitions from previous years amounted to SEK – m (–159). Financial position Bonds were issued on two occasions during the year, SEK 2,500 m and EUR 300 m, with the purpose to refinance existing indebtedness. SEK 2,500 m in the Swedish krona bond market was issued across three tranches consisting of a 3-year Floating Rate Note with a coupon of 3m Stibor +275bps, a 3-year Fixed Rate Note with a coupon of 4.925% and a 5-year Floating Rate note with a coupon of 3m Stibor +325bps. A EUR 300 m bond was issued with a 5-year maturity at a fixed rate of 5.00%. Both were issued under Dometic’ s EUR 1,500 m Euro Medium T erm Note programme (EMTN). During the year, Dometic repaid an EKN-backed loan of SEK 1,000 m and a SEK 1,000 m bond (both maturing in 2025) and EUR 100 m of the EUR 300 m bond with maturity in May 2026. A USD 220 m loan was also repaid and the maturity of a USD 233 m loan was extended with one year. Interest-bearing liabilities, excluding pension provisions, amounted to SEK 14,679 m (15,464). The debts are denomi- nated in SEK, EUR, and USD. The average maturity of total interest-bearing debts was 2.7 years (2.1) at year-end 2025. Group cash and cash equivalents at year-end amounted to SEK 4,860 m (4,213). Dometic has an undrawn revolving credit facility available of EUR 300 m maturing in 2028. At year-end 2025, net debt amounted to SEK 9 878 m (11 289) and the net debt to EBITDA leverage ratio, was 3.3x (3.1×). The Senior Credit Facilities Agreement (SFA) and the EMTN-program bonds may be terminated under certain cus- tomary conditions, including a change of control or delisting from Nasdaq Stockholm; see note 21 for further details. There are no pledged assets or securities in the SFA or the EMTN program. The SFA financing include covenants that are assessed at the end of each quarter. Other financial risks are described in note 3. Financial instruments Dometic Group uses currency forward contracts to hedge forecasted future cash flows in foreign currency and loans in foreign currency to hedge translation risk on net investments in foreign operations. The fair values of Dometic’ s derivative assets and liabilities were SEK 2.1 m (16.6) and SEK 0.2 m (12.6), respectively . Values are based on quoted prices in an active market. No transfers between levels of the fair value hierarchy occurred during the period. Other current and non-current liabilities, mainly referring to potential earnouts from acquisitions, are measured at fair value based on management’ s best estimates and belong to level 3 of the fair value hierarchy . For additional information, see note 3. Parent Company The Parent Company , Dometic Group AB (publ), comprises the functions of the Group’ s head office, such as Group Management and administration. The Parent Company invoices its costs to Group companies. For 2025, the Parent Company reported an operating profit of SEK 1 m (4), including administrative expenses of SEK –244m (–243) and other operating income of SEK 245 m (247), fully attributable to income from Group companies. Net financial expenses totaled SEK 103 m (1,451), includ- ing interest income from Group companies of SEK 516 m (741), other financial income and expenses of SEK –413 m (–1,090). In 2024, the Parent Company received a dividend of SEK m 1,800 from Group companies. Net result for the year amounted to SEK –69 m (1,643). The Parent Company has no branch offices. The Group has three branch offices in total. For information on employ- ees, salaries, and remuneration, see note 9. For information on shares in subsidiaries, see note 26. Other significant events Authorization to issue new shares and/or warrants and/ or convertibles in Dometic Group AB (publ) In accordance with the proposal by the Board of Directors, the annual shareholders’ meeting 2025 authorized the Board of Directors to resolve, on one or several occasions until the next annual shareholders’ meeting, on the issuance of new shares and/or warrants and/or convertibles with or without deviation from the shareholders’ pre-emptive right. Such resolution may provide for payment in cash, against set-off of claims or in kind or otherwise on special condi- tions. The total number of shares that may be issued and the total number of shares that shall be possible to subscribe/ convert to under the authorization shall in total be within the limits of the articles of association and shall not exceed 10% of the total number of shares in the company at the time of the board’ s resolution on an issue. The purpose of the authorization, and the reasons for any deviation from the shareholders’ pre-emptive right, is to increase the Dometics’ s financial flexibility . Should the board BOARD OF DIRECTORS’ REPORT 45DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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of directors resolve on an issue with deviation from the share- holders’ pre-emptive right, the reason shall be to enable the company to finance the operations or to strengthen the balance sheet in a fast and efficient way , acquire companies, businesses or parts thereof with payment in own shares, warrants and/or convertibles, secure financial capacity for current or future possible acquisitions of companies, busi- nesses or parts thereof and/or to enable a broadening of the ownership of the company . The issue price shall be deter- mined in accordance with prevailing market conditions. Significant events after the reporting period In March 2026, Dometic’ s Board of Directors decided to withdraw the previously communicated dividend proposal of SEK 1.00 per share. The decision was taken due to the backdrop of recent geopolitical developments, which have increased economic uncertainty and volatility and may have a negative impact on consumer sentiment and demand for Dometic’ s products. In light of this, the Board of Directors considered it proactive and prudent to withdraw the dividend proposal in order to maintain financial flexibility . Future development Dometic Group has set its financial targets as outlined below and has a roadmap of initiatives to continue to implement its strategy . Dometic does not provide a financial outlook. The Group’s medium to long-term financial targets Dometic has the following medium to long-term finan- cial targets, adopted by the Board of Directors, over a business cycle: • Average annual net sales growth of 10%, including organic growth and M&A. • Operating (EBITA1)) margin of 18–19%. • Net debt to EBITDA leverage ratio around 2.5×. • Dividend of at least 40% of profit for the period. Dometic announced a Global restructuring program in December 2024. The program includes both portfolio changes and structural cost reductions and will have an annual positive impact on EBITA1) estimated to SEK 750 m when fully implemented at the end of 2026. After program completion, and assuming the market conditions at the time of the announcement, Dometic is targeting an EBITA1) margin of 14% for the full year 2027 . Employees and remuneration Number of employees The number of employees in terms of headcount was 7 ,167 (7 ,558). Guidelines for remuneration for the CEO and Group Management The annual shareholders’ meeting resolved on April 11, 2024 to adopt the below guidelines for remuneration for the CEO and the Dometic Group management (the “Group Management”). The guidelines shall be subject to approval by the shareholders’ meeting at least every fourth year. The guidelines apply to arrangements entered into following the adoption of the guidelines, as well as to any changes made in existing agreements following the adoption of the guidelines. The guidelines’ promotion of the Company’s business strategy, long-term interests and sustainability The common ground for the Company’ s business strategy and for all activities is found in the global strategy . By defining the way forward through well-defined toolboxes within the areas of profitable expansion, product leadership and cost reductions, Dometic is leveraging its full strengths as a global Company and industrializing Dometic while maintaining a successful entrepreneurial approach. For more information regarding the Company’ s business strategy , please see https://www.dometicgroup.com/ en-us/our-company/strategy . A prerequisite for the successful implementation of the Company’ s business strategy and safeguarding of its long-term interests, including its sustainability , is that the Company is able to recruit and retain qualified personnel. To this end, it is necessary that the Company offers compet- itive remuneration. These guidelines enable the Company to offer the executive management a competitive total remuneration. Variable cash remuneration covered by these guidelines, shall aim at promoting the Company’ s business strategy and long-term interests, including its sustainability . Total remuneration The total remuneration shall be based on the position held, individual performance, performance of the Dometic Group and be competitive in the country of employment. The overall remuneration package may consist of the base salary , variable salary based on short-term annual performance targets, long-term incentives, pension, and other benefits, including non-monetary benefits. Remuneration under employments subject to other rules than Sweden may be duly adjusted to comply with manda- tory rules or established local practice, considering, to the extent possible, the overall purpose of these guidelines. Base salary and variable salary Base salary shall be the basis for the total remuneration. The base salary shall be market relevant and reflect the degree of responsibility involved in the position. The base salary levels shall be reviewed annually . Members of Group Management shall, in addition to the base salary , dependent on an annual decision by the Board of Directors, be eligible for short-term variable compensa- tion that is based on short-term annual predetermined and measurable performance targets which can be financial or non-financial. The performance targets shall be designed to contribute to the Company’ s business strategy and long-term interests, by being clearly linked to the business strategy . The short-term variable remuneration shall be linked mainly to financial parameters such as EBITA, cash conversion etc. Non-financial parameters can occur. The weighting of the different parameters can vary between 10–60%. The variable salary potential shall be dependent on the position and may amount for the CEO to a maximum of 75% of the base salary and for the other members of Group Management to a maximum of 50% of the annual base salary , according to individual agreements. The extent to which the criteria for awarding short-term variable cash remuneration have been satisfied shall be evaluated/determined when the measurement period has ended. The Remuneration Committee is responsible for the evaluation. For financial targets, the evaluation shall be based on the latest financial information made public by the Company , with any adjustments considered appropriate by the Remuneration Committee and Board of Directors. Long-term incentive programs In addition to base salary and short-term variable cash remuneration, long-term incentive programs (LTI) may be implemented. Such programs shall be designed to ensure a long-term commitment to Dometic Group’ s development, be implemented on market terms and have a term of no less than three years. Long-term incentive programs shall be cash-based and linked to the development of earnings per share and ESG targets. The total remuneration during the three-year measurement period may amount to a maximum of 100% of the participant’ s annual base salary at the time of the implementation of the program. All participants in the LTI are required to invest a proportion of the net variable cash renumeration in Dometic shares. Members of the Group Management are required to invest until they hold Dometic shares equivalent to a value corresponding to their annual base salary . Pensions and insurance Pension and disability benefits shall reflect regulations and practice in the country of employment. The value of the pension and the benefits shall be in line with market practice in the country , and the pension premiums for 1) Before amortization and impairment of acquisition-related intangible assets and items affecting comparability BOARD OF DIRECTORS’ REPORT 46DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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premium-based pension shall not exceed 40% of the annual base salary for the CEO and 35% for the other members of Group Management. If possible, pension plans shall, in line with the Group remuneration policy , be defined contribu- tion plans. The retirement age is normally 65 years. Variable salary components shall not qualify for pension benefits, save for situations when the rules in a general pension plan are applicable (for example the Swedish ITP plan). Other benefits Other benefits, such as company car, medical or health insurance, housing or travel benefits or similar, may be part of the total remuneration and shall aim to facilitate Group Management’ s duties and correspond to what is considered reasonable in relation to market practice in the country of employment. Premiums and other costs relating to such benefits may amount to not more than 10% of the fixed annual base salary . Notice of termination and severance pay Upon termination of employment, the notice period may not exceed twelve months. Fixed cash salary during the notice period and severance pay may not, in total, exceed an amount corresponding to the fixed cash salary for two years. When termination is made by the executive, the notice period may not exceed six months, without any right to severance pay . Severance pay shall not form a basis for vacation pay or pension benefits. Local employment laws and regulations may influence the terms and conditions for notice given by the Company . The Group Management shall be obliged not to compete with the Company during the notice period. Salary and employment conditions for employees In the preparation of the Board of Directors’ proposal for these remuneration guidelines, the salary and employment conditions for employees of the Company have been taken into account by the inclusion of information on the employ - ees’ total income, the components of the remuneration and increase and growth rate over time, in the Remuner - ation Committee’ s and the Board of Directors’ basis of decision when evaluating whether the guidelines and the limitations set out herein are reasonable. The development of the gap between the remuneration to executives and remuneration to other employees will be disclosed in the remuneration report. The decision-making process to determine, review and implement the guidelines The Board of Directors has established a Remuneration Committee. The Committee’ s tasks include preparing the Board of Directors’ decision to propose guidelines for executive remuneration. The Board of Directors shall prepare a proposal for new guidelines at least every fourth year and submit it to the general meeting. The guidelines shall be in force until new guidelines are adopted by the general meeting. The Remuneration Committee shall also monitor and evaluate programs for variable remuneration for the executive management, the application of the guidelines for executive remuneration as well as the current remuneration structures and compensation levels in the Company . The members of the Remuneration Committee are independent of the Company and its executive management. The CEO and other members of the executive management do not participate in the Board of Directors’ processing of and resolutions regarding remuneration-related matters in so far as they are affected by such matters. Authority for the Board of Directors to deviate from the guidelines for remuneration Under special circumstances and if it is necessary to serve the Company’ s long-term interests, including its sustainabil- ity , or to ensure the Company’ s financial viability , the Board of Directors may , in whole or in part, in an individual case deviate from these guidelines for remuneration. In case of such deviation, the next annual shareholders’ meeting shall be informed of the reasons. Sustainability and environmental impact For more information on the Dometic Group and sustaina- bility , refer to the Sustainability Statement starting on page 64. This is the statutory sustainability report in accordance with the Swedish Annual Accounts Act. For information on subsidiaries in the Group, see note 26. Dometic conducts activities subject to notification to and permission from authorities in Tidaholm, Sweden, in the form of devices containing enclosed radiation sources and storage of flammable goods. The business has the necessary permits, and no permit processes are ongoing. No changes are planned in the business that affect the permits and no violations have occurred during the year. Dometic’ s depend- ence on the activity subject to notification and authorization is not significant. The share, shareholders and proposed distribution of earnings The share Dometic’ s shares have been listed on Nasdaq Stockholm since November 25, 2015 and the shares are traded on Large Cap. The share capital amounted to SEK 798,750 divided into 319,499,933 shares. The quotient value (nomi- nal value) of the share is SEK 0.0025 per share. All shares are of the same class and carry equal rights in all respects. At the annual shareholders‘ meeting, each share carries one vote and each shareholder is entitled to vote the full number of shares such shareholder holds in the Company . Shareholders On December 31, 2025 Dometic had 17 ,552 shareholders according to the share register kept by Euroclear Sweden AB. Of the total number of shares, 39% was held by Swedish institutional owners, 7% was held by Swedish private individ- uals and the remaining 43% was held by foreign institutional owners, other and by unknown ownership. The largest shareholder was NN Group N. V ., with 7 .6% of the shares and voting rights. The First Swedish National Pension Fund was the second-largest shareholder, with 7 .0% of the shares and voting rights. The ten largest shareholders accounted for around 55% of the shares and voting rights. Articles of Association The articles of association contain no separate provisions pertaining to the appointment and dismissal of Board members, nor to amendments to the articles of association. Proposed distribution of earnings The Board of Directors’ proposes that no dividend is to be paid for 2025. For further information, refer to page 179, “Proposed distribution of earnings”. The following earnings (SEK) are at the disposal of the annual shareholders’ meeting: Retained earnings 11,944,650,622 Net result for the year –68,934,159 Total 11,875,716,463 The Board of Directors proposes that earnings be distributed as follows: To be carried forward 11,875,716,463 Total 11,875,716,463 BOARD OF DIRECTORS’ REPORT 47DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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maps help raise risk awareness and support management and the business operations at different levels of the organ- ization in prioritization of risks and decisions on risk-miti- gating actions. The annual risk assessment, including risk registers and risk maps, also serves as a foundation for the Group’ s control functions, such as Internal Control and Internal Audit, for their prioritization of focus areas. Risk response i.e. risk-mitigating actions could include avoiding the risk, reducing the risk, sharing the risk or accepting the risk. The preferred action depends on the probability , impact and nature of the risk, whether e.g. avoiding it by not engaging in certain businesses, reduc- ing the exposure of it by hedging or strengthening internal processes, sharing it through insurance or joint ventures, or accepting it as part of the business in combination with monitoring it to be able to react fast if the risk materializes. Monitoring is executed in the daily business operations and more formally at the Risk Committee meetings as well as at the Audit Committee and Board of Directors’ meet- ings respectively . Risk universe The risk framework includes a universe of risks that could impact Dometic’ s ability to achieve established strategic and other objectives including financial targets and sus - tainability targets. The risks to which Dometic is exposed are classified into four main categories: strategic risks, execution risks, compliance & regulatory risks and reporting risks. Each main category has subcategories with defined underlying risks. Sustainability risks are integrated in the main categories and subcategories. Risks are mapped to strategic and other objectives including financial targets and sustainability targets. Risk owners are identified for each risk in the risk universe. Strategic risks Strategic risks can impact Dometic’ s ability to achieve strategic objectives including financial targets and sustain- RISKS AND RISK MANAGEMENT Risks are part of any business and as a global Group with production and distribution all over the world, Dometic faces risks that can impact its ability to achieve estab- lished strategic and other objectives, including financial targets and sustainability targets. Effective risk manage- ment of strategic risks, execution risks, compliance & regulatory risks and reporting risks create opportunities and effective risk mitigation. Dometic Three Lines Model The key to effective risk management is identifying known risks and preparing for any unknown risks to which the Group is exposed to. While mitigating risks usually comes at a cost, effective risk management adds value by estab- lishing clear process and risk ownership combined with risk identification, risk assessment, risk prioritization and risk response i.e. risk mitigating actions as well as effective monitoring. See page 57 for more details on the Dometic Three Lines Model. Risk management In line with Dometic Three Lines Model, Risk Management as part of the second line of responsibility constitutes an important role by providing and supporting management and the business operations with a risk framework including a risk management process and a risk universe for identifica- tion, assessment and prioritization of risks, and for providing risk response i.e. risk-mitigating actions as well as effective monitoring. The risk framework aligns strategic risks with the Group strategic objectives and the strategy toolbox for execution. Each defined tool in the strategy toolbox represents both risks and opportunities that, correctly managed, help the Group deliver on its strategy . Risks in the risk framework and especially the strategic risks are connected to the objectives defined for each of the three pillars in the Group strategy . Read more about the Dometic strategy on page 14. During 2025, risk assessments were performed on Group, Segment, and Group Function levels to assess risks and related risk mitigating actions. Group risk assessments mainly focused on the strategic risks and Segment risk assessments mainly focused on the execution risks, since the Segments execute on the strategy and decisions made by Group Management and the Board of Directors. Group Function risk assessments added common risks as well as compliance & regulatory risks and reporting risks aspects that complement both the Group and Segment risk assessments. The Risk Committee, which comprises the members of Group Management, held meetings in connection with Group Management meetings, during which significant time was dedicated to plan for and present results from risk assessments as well as review of risk mitigating actions. Strategic risks are assessed top-down by Group Man- agement, while execution risks, compliance & regulatory risks and reporting risks are assessed top-down by Group Management and global process and risk owners as well as bottom-up by Segment Management, Group Functions and process and risk owners, as applicable. The Risk Committee discusses and makes decisions on risk mitigating actions and the members of Group Management act as global process and risk owners as applicable. The work of the Risk Committee is regularly reported to the Audit Committee and annually to the Board of Directors. With strategic risks, execution risks, compliance & regulatory risks and reporting risks identified and assessed annually , the results thereof in terms of risk registers and risk RISK IDENTIFICATION RISK ASSESSMENT RISK PRIORITIZATION RISK RESPONSE MONITORING Risk management process ability targets. Strategic risks are divided into the following subcategories: • Market and sales risks. • Product risks. • Manufacturing, distribution and sourcing risks. • Organizational risks. • External risks. Strategic risks are assessed top-down by Group Manage- ment and strategic risk maps are used for e.g. evaluating the Group’ s opportunities and strategic position. Examples of market and sales risks are customer depend- ency , cyclicality , seasonality and segment dependency , market trends, channel conflicts, e-commerce, brand and reputation and M&A opportunities and prioritization. Examples of product risks are product prioritization, technol- ogy disruption and product lifecycle management. There are also manufacturing, distribution and sourcing risks and within organizational risks there are competence management and leadership risks. External risks could be political, geopolitical, RISKS AND RISK MANAGEMENT 48DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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climate change, weather-related, hazards, inflation, interest rate, sourcing and risks related to compensation, external crime and pandemics. Climate risks are identified and evaluated in Dometic’ s risk management process. Climate-related physical risks are assessed as part of Dometic’ s risk management process. In accordance with the CSRD requirements, disclosures on climate-related risks, impacts, and opportunities are presented in the Sustainabil- ity Statement. Political risks could be tariffs or other trade barriers caused by political decisions and geopolitical risks could be risk of military invasion. Special attention was given to the sourcing risk, as an effect of the development in Ukraine and the US tariffs situation. Dometic continues to follow the development in Ukraine as well as in neighbouring countries and takes necessary actions needed to protect the Group including its employees and assets. Dometic has stopped all business activities in Russia. The current macroeconomic situation brings uncertainty , and it is difficult to predict how geopolitical, inflation and interest rate developments will impact Dometic’ s business operations short term. Dometic is actively working to balance capacity and resources with demand across the organization. While closely monitoring and acting on short-term market developments, Dometic will continue to implement its strategic agenda to deliver on its targets. Execution risks Execution risks are operational, commercial and financial risks associated with Dometic’ s business operations. Execution risks are divided into the following subcategories: • Product risks. • Sales, sourcing/suppliers, distribution and manufacturing risks. • Corporate Governance risks. • Organizational risks. • Information and IT risks. • Asset risks. • Financial risks. Execution risks are assessed top-down by Group Man- agement and global process and risk owners as well as bottom-up by Segment Management, Group Functions and process and risk owners. Execution risk maps are used by Dometic’ s business operations to support in business assessments, prioritizations and decisions. Execution risks can impact Dometic’ s business opera- tions’ ability to reach established objectives and targets. Execution risks are mitigated by implementing clear process ownership, internal governing documents, by effective internal control, quality programs, whistle-blower systems, insurance programs and proper crisis manage - ment as well as by reducing environmental impact and improving energy efficiency . Examples of product-related risks are inefficient intro- duction of new products, reactions to product quality issues, product safety and liability , environmental and business disruption risks. Examples of sales, sourcing/ suppliers, distribution, and manufacturing risks are price control, customer/supplier contracts, suppliers and supply chain, manufacturing of existing products, distribution and environmental risks. Examples of corporate governance risks are ineffective organization, process ownership, internal processes, internal controls, internal governing documents, digitalization, internal corruption, fraud and misconduct risks. Examples of organizational risks are employee health and safety , working conditions, ability to attract, hire, retain competence and personnel, change management, M&A integration and security risks. Examples of Information and IT risks are Information Security , IT operations, IT security , cybercrime, social media, and Artificial Intelligence (AI) risks. Examples of asset risks are tangible assets, inventory and intangible asset including goodwill risks. Examples of financial risks are credit, liquidity and financing, impairment, tax, interest rate and currency risks. For more information on financial risks and risk management, see Note 3 financial risk management and financial instruments. Compliance & Regulatory risks Compliance & Regulatory risks are both internal compliance with internal governing documents as well as external compliance with laws, rules and regulations etc. Com- pliance & Regulatory risks are divided into the following subcategories: • Internal governing documents risks. • Laws, rules and regulations risks. • Other compliance and regulatory risks. Compliance & Regulatory risks are assessed top-down by Group Management and global process and risk owners as well as bottom-up by Segment Management, Group Func- tions and process and risk owners. Compliance & regulatory risk maps are used to support in business risk assessments, risk prioritizations and decisions. Dometic is subject to stringent environmental and other regulatory requirements, which can result in additional cost The Risk Committee is comprised of the members of Group Management. The work of the Risk Committee is regularly reported to the Audit Committee and annually to the Board of Directors including the annual risk assessment. JA N FEB M AR APR MAY JUN JUL AUG SEP OCT N O V D E C Risks, Annual Report Audit Committee Q1 – Risk Committee Audit Committee Q2 – Risk Committee Audit Committee and Board of Directors – Annual risk assessment Q4 – Risk Committee Audit Committee Q3 – Risk Committee THE ANNUAL CYCLE The Risk Management process annual cycle RISKS AND RISK MANAGEMENT 49DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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for the Group impacting the financial result or liability , restrict operations or result in the limitation or suspension of the sale or production of a product. The introduction of new laws, rules and regulations, the discovery of previously unknown contamination or the imposition of new or increased regu- latory requirements could affect the Group’ s financial result and quality of financial reporting. Internal compliance risks in relation to Internal governing documents, are mitigated by active dialogue, intranet publications and training of employees, annual assessments of internal governing documents by Compliance and by Group Internal Control. External compliance risks in relation to laws, rules and regulations, are mitigated by active review by the Group Quality function and continuous dialogue between Segment entities and Group Functions, such as Legal, HR, Finance and T ax. Laws, rules and regulations risks may be related to Group, Segment or local laws, rules and regulations. Examples of other compliance and regulatory risks are other specific industry or market requirements as well as dispute and litigation risks. A more detailed description of Dometic’ s work with internal control over financial reporting is provided in the Corporate Governance Report, section Internal control over financial reporting on page 57 . Reporting risks Reporting risks are risks associated with Dometic’ s reporting, information and communication, both financial and non-financial. Reporting risks are divided into the following subcategories: • External reporting risks. • Internal reporting risks. Reporting risks are assessed top-down by Group Management and global process and risk owners as well as bottom-up by Segment Management, Group Functions and process and risk owners, and reporting risk maps are used in the risk assess- ment. External reporting is supported by e.g. an Information Policy approved by the Board of Directors and internal reporting is supported by other internal governing documents. Examples of external reporting risks are related to external reporting, communication and information both financial, such as Interim reports, Full-year reports and Annual reports, and non-financial. Examples of internal reporting risks are related to internal reporting, communication and information, both financial and non-financial, including decision-supporting material and monitoring-supporting material. A more detailed description of Dometic’ s work with internal control over financial reporting is provided in the Corporate Governance Report, section Internal control over financial reporting on page 57 . Climate Risk Disclosure For climate risk disclosure, see the Sustainability Statement on page 64. STRATEGIC RISKS EXECUTION RISKS COMPLIANCE & REGULATORY RISKS REPORTING RISKS DOMETIC RISK UNIVERSE • Market and sales risks • Product risks • Manufacturing, distribution and sourcing risks • Organizational risks • External risk factors • Product-related risks • Sales, sourcing/suppliers, distribution, manufacturing risks • Corporate Governance risks • Organizational risks • Information and IT risks • Asset risks • Financial risks • Internal governing documents risks • Laws, rules and regulations risks • Other compliance and regulatory risks • External reporting risks • Internal reporting risks RISKS AND RISK MANAGEMENT 50DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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CORPORATE GOVERNANCE REPORT Dometic is a global outdoor tech company on a mission to make mobile living easy . Leveraging Dometic’ s core expertise in cooling, heating, power & electronics, mobility , and space optimization, more people are empowered to connect with nature and elevate their sense of freedom in the outdoors. This is achieved by creating smart, sustaina- ble, and reliable products with outstanding design. Millions of people around the world use Dometic’ s products while camping and exploring nature with their cars, RVs, or boats. The range of offerings includes installed products for land vehicles and boats, as well as standalone solutions for outdoor enthusiasts. Dometic employs approximately 7 ,000 people worldwide, had net sales of SEK 21 billion in 2025 and is headquartered in Stockholm, Sweden. Dometic Group AB (publ), registration number 556829-4390 with the Swedish Companies Registration Office (the “Company” or the “parent Company), and its subsidiaries are jointly known as the Dometic Group (“Dometic”, ”Group”, or “Dometic Group”). The registered office of the Board of Directors of the Company (the “Board”) is in Solna, Sweden. The address of the Group headquarters is Hemvärnsgatan 15, 6th floor, SE-171 54 Solna, Sweden. The Company is a public Swedish limited liability company . The Company’ s shares are listed on the Nasdaq Stockholm Large Cap List. The Company strives to maintain strict norms and efficient governance processes to ensure that the Group’ s operations create long-term value for its shareholders and other stakeholders. This involves the maintenance of an efficient organizational structure, system of internal controls and risk management and transparent internal and external reporting. The governance of the Company and the Group is based on the Swedish Companies Act, the Swedish Annual Accounts Act, the Nordic Main Market Rulebook for Issuers of Shares (“Rulebook for Issuers”) and the Swedish Corporate Govern- ance Code (the “Code”) and other applicable Swedish and foreign laws, rules and regulations as well as internal regulations in terms of Dometic’ s internal governing documents, that together constitute the framework for corporate governance at Dometic. The Code is published on the website of the Swedish Corporate Governance Board, which administers the Code: www.corporategovernanceboard.se. This corporate governance report has been drawn up as a part of the Company’ s application of the Code. There have been no deviations from the Code by the Company in 2025. There has been no infringement by the Company of applicable stock exchange rules and no breach of good practice on the securities market reported by the disciplinary committee of Nasdaq Stockholm or the Swedish Securities Council in 2025. The Dometic corporate governance structure as regards the organization is presented on the next page. Highlights 2025 Re-election of Fredrik Cappelen as the Chairman of the Board. Eva Karlsson, President of Land Vehicles EMEA left the Company in August 2025. Announcement that Stefan Fristedt, Chief Financial Officer, will be leave the Company by the end of April 2026. Shareholders’ Meeting Pursuant to the Swedish Companies Act, the shareholders’ meeting is the Company’ s highest decision making body at which the shareholders exercise their voting rights. At the annual shareholders’ meeting, shareholders have the oppor - tunity to ask questions about the Company and the Group and the results for the past year. The annual shareholders’ meeting of the Company is held in Stockholm, Sweden, usually in April or May . The annual shareholders’ meeting resolves upon: • Adoption of statutory financial statements. • Disposition of the Company’ s disposable earnings and dividend. • Discharge from liability of the Board members and the CEO. • Election of the Board members, the Chairman of the Board and the external auditor. • Remuneration to the Board members, the Chairman of the Board and the external auditor. Applicable laws, rules and regulations, examples Internal regulations in terms of Dometic’s internal governing documents, examples • Swedish Companies Act. • Swedish Annual Accounts Act. • Nordic Main Market Rulebook for Issuers of Shares. • Swedish Corporate Governance Code. • Articles of Association. • Rules of Procedure for the Board of Directors. • Instructions for the CEO. • Instructions for the Remuneration Committee. • Instructions for the Audit Committee. • Instructions for the reporting of financial situation of Dometic Group AB (publ) and the Dometic Group. • Code of Conduct. • Guidelines for Remuneration. • Diversity and Inclusion Policy . • Finance Policy (incl. T ax, Treasury and Credit Policy). • Information Policy . • Insider Policy . • Internal Audit Policy . • Dividend Policy . • Privacy Policy . • IT Policy . • Finance Manual. • Internal Control Charter. • Processes for internal control and risk management. • Internal Control Framework - Minimum Internal Control Requirements (MICR). • Principles for the appointment and work of the Nomination Committee. • Guidelines for remuneration for the CEO and Group Management, and, if applicable, adoption of long-term share or share-price related incentive programs. • Approval of the remuneration report. • Other important matters, such as authorization to acquire and transfer shares in the Company , authorization to issue new shares in the Company , amendments to the Company’ s Articles of Association, if applicable. CORPORATE GOVERNANCE REPORT 51DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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Extraordinary shareholders’ meetings may be held at the discretion of the Board or, if requested, by the external auditor or by shareholders owning at least 10% of all shares in the Company . According to the Company’ s Articles of Association, shareholders’ meetings are convened by publication of a convening notice in the Swedish National Gazette (Sw. Post- och Inrikes Tidningar) and on the Group’ s website, www.dometicgroup.com. At the time of the notice conven- ing the shareholders’ meeting, information regarding the notice is published in the Swedish daily newspaper Svenska Dagbladet. The Company’ s Articles of Association are available on the Group’ s website, www.dometicgroup.com. Participation in decision-making at shareholders’ meetings requires that the shareholder shall be registered in the share register by a stipulated date prior to the meeting and shall provide notice of participation in the manner prescribed in the notice convening the shareholders’ meeting. In addition, the shareholder’ s presence at the shareholders’ meeting, either personally or through a proxy , is normally required, unless the Board, before the shareholder’ s meeting, has resolved to allow the exercise of voting rights in advance of the shareholders’ meeting (postal voting) or to collect proxies pursuant to the procedure stated in the Swedish Companies Act. Individual shareholders may request that the Board includes a specific issue in the agenda of a shareholders’ meeting. The address and the last date for making such a request for the respective shareholders’ meeting shall be published on the Group’ s website, www.dometicgroup.com. Decisions at the shareholders’ meeting are usually taken on the basis of a simple majority . However, as regards certain issues, the Swedish Companies Act stipulates that proposals must be approved by shareholders representing a larger number of the votes cast and the shares represented at the shareholders’ meeting. The minutes recorded at the shareholders’ meeting shall be published on the Group’ s website, www.dometicgroup.com, not later than two weeks following the shareholders’ meeting. A press Dometic corporate governance structure – organization nomination commit tee remuner ation commit teeaudit commit tee internal audit shareholders by the shareholders ’ meeting board of directors ceo cfo group management ex ternal auditor segment management and group operations release containing the decisions made by the share holders’ meeting shall be published on the Group’ s website, www.dometicgroup.com, immediately after the share- holders’ meeting. All shares in the Company carry equal voting rights, namely one vote per share. The Company’ s Articles of Association do not have any specific provisions regarding the appointment and dismissal of directors or about amend- ing the Articles. Annual Shareholders’ Meeting 2025 The 2025 annual shareholders’ meeting of the Company was held at Hotel At Six, Brunkebergstorg 6, SE-111 51 Stockholm, Sweden, on April 15, 2025. The shareholders were also able to exercise their voting rights by voting in advance of the meeting (postal voting), in accordance with the Company’ s Articles of Association. 287 shareholders representing a total of 70, 49% of the votes were repre- sented at the meeting. Decisions at the 2025 annual shareholders’ meeting included: • Adoption of statutory financial statements for the financial year 2024. • Approval of a dividend to shareholders of SEK 1.30 per share for financial year 2024. The record date for the dividend was set for April 17 , 2025. The dividend was paid out to shareholders on April 24, 2025. • Discharge from liability of the individual Board members and the CEO. • Re-election of the Board members Fredrik Cappelen, Heléne Vibbleus, Jacqueline Hoogerbrugge, Mengmeng Du, Peter Sjölander, Rainer E. Schmückle and Patrik Frisk. • Re-election of Fredrik Cappelen as the Chairman of the Board. • Re-election of the audit firm Öhrlings Pricewaterhouse- Coopers AB as external auditor. • Approval of remuneration to the Board members, the Chairman of the Board and the external auditor. • Approval of the Board’ s remuneration report. • Authorization for the Board to issue new shares and/or warrants and/or convertibles. Annual Shareholders’ Meeting 2026 The 2026 annual shareholders’ meeting of the Company shall be held on Tuesday April 14, 2026, at Hotel At Six, Brunkebergstorg 6, SE-111 51 Stockholm, Sweden. For addi- tional information regarding the next annual shareholders’ meeting and how to register attendance, see the Group’ s website, www.dometicgroup.com. Nomination Committee The 2021 annual shareholders’ meeting resolved to adopt the following principles for the appointment and work of the Nomination Committee, applicable until further notice. The Nomination Committee shall be composed of the Chairman of the Board together with one representative of each of the three largest shareholders, based on ownership in the Company as of August 31. Should any of the three largest shareholders renounce its right to appoint one representative to the Nomination Committee, such right shall transfer to the shareholder, who then in turn, after these three, is the largest shareholder in the Company . The Board shall convene the Nomination Committee. The member representing the largest share- holder shall be appointed the chairman of the Nomination Committee, unless the Nomination Committee unanimously appoints someone else. Should a shareholder having appointed a representative to the Nomination Committee no longer be among the CORPORATE GOVERNANCE REPORT 52DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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three largest shareholders at a point in time falling three months before the annual shareholders’ meeting at the latest, the representative appointed by such shareholder shall resign and the shareholder who is then among the three largest shareholders shall have the right to appoint one representative to the Nomination Committee. Should such change in the ownership occur during the three-month period prior to the annual shareholders’ meeting, the already established composition of the Nomination Com- mittee shall remain unchanged. Should a member resign from the Nomination Committee before his or her work is completed, the shareholder who has appointed such member shall appoint a new member, unless that share- holder is no longer one of the three largest shareholders, in which case the largest shareholder in turn shall appoint the substitute member. A shareholder who has appointed a representative to the Nomination Committee shall have the right to discharge such representative and appoint a new representative. Changes to the composition of the Nomination Commit- tee shall be announced immediately . The term of the office for the Nomination Committee ends when the next Nom- ination Committee has been appointed. The Nomination Committee shall carry out its duties as set out in the Code. The composition of the Nomination Committee for the annual shareholders’ meeting is publicly announced on the Group’ s website, www.dometicgroup.com no later than six months before the annual shareholders’ meeting. The Nomination Committee’ s tasks include preparing a proposal for the next annual shareholders’ meeting regarding: • Chairman of the annual shareholders’ meeting • Board members • Chairman of the Board • Remuneration to the Board members and the Chairman of the Board • Remuneration for Board committee work • Amendments of the principles for the appointment and work of the Nomination Committee, if deemed necessary • External auditor and external auditor’ s fee In addition, the Nomination Committee shall assess the independence of the Board members in relation to the Company and the largest shareholders. The Nomination Committee’ s proposals are publicly announced no later than on the date of the notice of the annual shareholders’ meeting. Shareholders wishing to submit proposals to the Nomination Committee should send a letter to Nomination Committee, Dometic Group AB (publ), Hemvärnsgatan 15, 6th floor, SE- 171 54 Solna, Sweden. No remuneration is paid to members of the Nomination Committee. The Company shall pay any necessary expenses that the Nomination Committee may incur in its work. Further information regarding the Nomination Committee and its work can be found on the Group’ s website: www.dometicgroup.com. Nomination Committee for the Annual Shareholders’ Meeting 2025 The Nomination Committee for the 2025 annual share - holders’ meeting comprised four members. Niklas Antman (Incentive AS) was the Chairman of the Nomination Committee. For the proposal for the 2025 annual shareholders’ meeting, the Nomination Committee made an assessment of the composition and size of the Board at that time as well as the Group’ s operations. Areas of particular interest were Dometic’ s strategies and goals and the demands on the Board that were expected from the Group’ s positioning for the future. The Nomination Committee also considered that a breadth and variety as regards experience, competence, diversity and gender shall be represented among the Board members. The Nomination Committee proposed re-election of the Board members: Fredrik Cappelen, Rainer E. Schmückle, Jacqueline Hoogerbrugge, Peter Sjölander, Heléne Vib- bleus, Mengmeng Du and Patrik Frisk, and the re-election of Fredrik Cappelen as the Chairman of the Board. After the election at the 2025 annual shareholders’ meeting, three out of seven Board members are women (42.9%). Nomination Committee for the Annual Shareholders’ Meeting 2026 The Nomination Committee for the 2026 annual share- holders’ meeting is based on the ownership in the Company as of August 31, 2025. The composition of the Nomination Committee was announced on the Group’ s website, www.dometicgroup.com in the beginning of October 2025, i.e. six months before the 2026 annual shareholders’ meeting, in accordance with the Code’ s announcement requirement. The Nomination Committee’ s members are: Filippa Gerstädt (Nordea Funds), Simon Peterson (Carnegie Fonder), Niklas Antman (Incentive AS) and Fredrik Cappelen, Chairman of the Board of Directors of Dometic Group AB (publ). Simon Peterson (Carnegie Fonder) is the Chairman of the Nomination Committee. Nomination Committee Name Appointed by Percentage of votes, August 31, 2025 Filippa Gerstädt Nordea Funds 6.88% Simon Peterson Carnegie Fonder 6.40% Niklas Antman Incentive AS 5.92% Fredrik Cappelen Chairman of the Board ownership through legal entity 0.35% The Board of Directors The Board has the overall responsibility for the Company’ s and the Group’ s organization and administration by contin- uously monitoring the operations, ensuring an appropriate organization, management, governing documents and internal control. The Board establishes objectives and strat- egies and makes decisions concerning major investments and operational changes. The Chairman of the Board has a leading role and is responsible for ensuring that the Board’ s work is well organized and performed efficiently . Composition of the Board The Board comprises seven members, without deputies, who are elected by the annual shareholders’ meeting. The annual shareholders’ meeting elects the Chairman of the Board. Directly after the annual shareholders’ meeting, the Board holds a meeting for formal constitution of the Board at which the members of the committees of the Board are elected. The Chairman of the Board is Fredrik Cappelen. Two of the seven Board members are not Swedish citizens. All Board members are non-executive members. For additional information regarding the Board members, see pages 60–61. The information is updated regularly on the Group’ s website, www.dometicgroup.com. Diversity Policy for the Board of Directors The Nomination Committee shall apply the Swedish Corporate Governance Code (the “Code”) article 4.1 as its Diversity Policy in respect of the Board. The goal of the Policy is for the Board to have a composition appropriate to the Company’ s and the Group’ s operations, phase of develop- ment and other relevant circumstances. The Board members elected by the shareholders’ meeting are collectively to exhibit diversity and breadth of qualifications, experience and background. The Company shall strive for gender balance on the Board. As set out in the Nomination Committee’ s proposal on election of the Board members for the 2025 annual shareholders’ meeting, the Nomination Committee applied article 4.1 of the Code as the Diversity Policy in its nomi- nation process. The 2025 annual shareholders’ meeting resolved to appoint the Board members in accordance with the Nomination Committee’ s proposal. After the election at the 2025 annual shareholders’ meeting, three out of seven Board members are women (42.9%). CORPORATE GOVERNANCE REPORT 53DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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The above-mentioned application of the Diversity Policy has also been made in respect of the Nomination Committee’ s preparation of the proposals for the 2026 annual sharehold- ers’ meeting. The Board is considered to be in compliance with relevant requirements for independence. The assessment of each Board member’ s independence is presented on pages 60–61. All Board members have been considered inde- pendent both in relation to the Company and its executive management and in relation to the major shareholders. Accordingly , the Company is in compliance with the Code’ s independence requirement. The Board’s tasks One of the main tasks of the Board is to manage the Group’ s operations in such a way as to assure that the interests of shareholders and other stakeholders in terms of long-term profitable growth and value creation are being met in the best possible manner. The Board’ s work is governed by applicable laws, rules and regulations as well as internal reg- ulations in terms of Dometic’ s internal governing documents (“internal governing documents”) that together constitute the framework for corporate governance at Dometic. The Board deals with and decides on Group-related issues, such as: • Objectives and strategies. • Appointing, evaluating, and, if necessary , dismissing the CEO. • Identifying how sustainability issues impact business risks and opportunities. • Internal governing documents, as applicable. • Ensuring that there is an appropriate system of internal controls and risk management to follow up the Group’ s operations and the risks to the Group that are associated with its operations. • Ensuring that there is a satisfactory process for monitoring the Group’ s compliance with applicable laws, rules and regulations as well as internal governing documents. • Ensuring that the Group’ s external communications are characterized by openness and that they are accurate, reliable and relevant. • Evaluating its work annually . • Evaluating the work of the CEO continuously . • Matters that according to the Instructions for the CEO fall outside of the scope of the CEO’ s day-to-day management. For information regarding examples of applicable laws, rules and regulations as well as internal governing documents, see the table on page 51. Working Procedures and Board Meetings The Board determines its working procedures, documented in the Rules of Procedure for the Board of Directors, each year and reviews these Rules of Procedure as required. The Rules of Procedure describe the Chairman of the Board’ s duties as well as the responsibilities delegated to the committees appointed by the Board. In accordance with the Rules of Procedure for the Board of Directors and the Swedish Corporate Governance Code (the “Code”), the Chairman of the Board shall, among other, things: • Organize and lead the Board’ s work • Verify that the Board’ s decisions are implemented effi- ciently and effectively • Ensure that the Board discharges its duties • Ensure the efficient and effective functioning of the Board, including necessary introductory training for new Board members and ensure that the Board regularly updates and develops its knowledge of the Group and its operations • Be responsible for contacts with the shareholders regard- ing ownership issues • Ensure that the Board receives sufficient information and documentation to enable it to conduct its work. The Rules of Procedure for the Board of Directors stipulate that the meeting for the formal constitution of the Board shall be held directly after the annual shareholders’ meeting. Decisions at such statutory Board meetings include the election of chairman and members of the committees of the Board and authorization to sign on behalf of the Company . In addition to the statutory Board meeting, the Board shall hold at least four ordinary Board meetings during the year. These meetings are held in conjunction with the publication of the Company’ s Interim reports, Full-year reports and Annual reports, in connection with visits to the Group manufactur- ing facilities, as applicable, and coordinated with the most important processes of the Group, such as strategy , budget and risk. Furthermore, extraordinary Board meetings may be held when necessary by telephone, video conferences or per capsulam. The Board’s work in 2025 During the year, the Board held 12 meetings, including statutory , ordinary and extraordinary . The attendance of each Board member at these meetings is presented on pages 60–61. Ordinary Board meetings follow a calendar that is established annually . In addition to the Board meetings, the Chairman of the Board and the CEO have continuous con- tact pertaining to operations and other important matters. All Board meetings during the year followed an agenda, which, together with the documentation for each item on the agenda, was made available for the Board members in advance of the meetings. Meetings usually last for half a day or one entire day in order to allow time for presentations and discussions. Normally the CEO and the CFO are present at ordinary Board meetings and Dometic’ s Group General Counsel serves as secretary at the Board meetings. Each scheduled ordinary Board meeting includes a review of the Group’ s business and the financial results and financial position as well as the outlook for the forthcoming quarters, as presented by the CEO and the CFO. The meetings also deal with investments, and the establishment of new operations, acquisitions and divestments. The Board decides on individual investments exceeding SEK 30 million and a total investment level above the approved investment budget. Major items addressed by the Board in 2025 included: • Strategy implementation • Value creation and growth opportunities • Monitoring emerging uncertainties • Restructuring program • Risk assessments and contingency plans • Structural cost reduction and price increase activities • Funding strategy , expansion of financing sources and cash flow • Organizational changes. Ensuring Quality in Financial Reporting The Rules of Procedure for the Board of Directors and the Instructions for the reporting of financial situation of Dometic Group AB (publ) and the Dometic Group determined annually by the Board include detailed instructions on the type of financial reports and similar information, which shall be submitted to the Board. In addition to the Company’ s Interim reports, Full-year reports and Annual reports, the Board reviews and evaluates comprehensive financial infor- mation regarding the Group as a whole and the segments within the Group. The Board also reviews, primarily through the Board’ s Audit Committee, the most important accounting principles applied by the Group in financial reports and major changes in these principles as well as internal control over financial reporting. For more information see section Internal control over financial reporting on page 56. The Company’ s external auditor reports to the Board as necessary and at a minimum once a year. The external auditor also attends the meetings of the Audit Committee. The Audit Committee reports to the Board after each of its meetings. Minutes are taken at all Audit Committee meet- ings and are made available to all Board members and to the external auditor. Board Work Evaluation The Board evaluates its work annually with regards to its Rules of Procedure for the Board of Directors and the work- ing climate as well as regards the focus of the Board’ s work. CORPORATE GOVERNANCE REPORT 54DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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This evaluation also focuses on access to and requirements of special competence in the Board. The evaluation is a tool for the development of the Board’ s work and also serves as input for the Nomination Committee’ s work. The evaluation of the Board is initiated and led each year by the Chairman of the Board. The 2025 annual evaluation was carried out in survey form. All Board members responded to the written question- naire. The result of the evaluation was discussed at a Board meeting and also presented for the Nomination Committee by the Chairman of the Board. The Board’ s work is progressing well. The Board mem- bers are making a constructive contribution to both the strategic discussion and the governance of the Company and the Group. The discussions are seen as open and the dialogue between the Board and the management is also considered positive and constructive. Remuneration to Board members Remuneration to the Board members and the Chairman of the Board is determined by the annual shareholders’ meeting. The remuneration to the Board members and the Chairman of the Board was revised in 2025. For an overview of remuneration to the Board members and the Chairman of the Board, please see the table below. Remuneration to Board members (applicable from the respective annual shareholders’ meeting) SEK 2025 2024 Chairman of the Board 1,410,000 1,350,000 Board member 505,000 485,000 Chairman of the Audit Committee 240,000 220,000 Member of the Audit Committee 110,000 100,000 Chairman of the Remuneration Committee 110,000 105,000 Member of the Remuneration Committee 57,000 55,000 Committees of the Board The Board has established an Audit Committee and a Remuneration Committee. The work of the respective committee is carried out pursuant to the Rules of Procedure for the Board of Directors and the Instructions for the Audit Committee and the Remuneration Committee, respectively . The major tasks of these Committees are preparatory and advisory , but the Board may delegate decision-making power as set out in the respective instructions or in a specific authorization by the Board in an individual case. The issues considered at Committee meetings shall be recorded in minutes of the meetings and reported at the following Board meeting. The members and Chairmen of the Committees are appointed at the statutory Board meeting following election of Board members, or when a Committee member needs to be replaced. Audit Committee The Audit Committee shall support the Board in monitor- ing that the Company and the Group are organized and managed in such a way that their respective accounts, management of funds and financial conditions in all aspects are controlled in a satisfactory manner in accordance with laws, rules and regulations and internal governing documents, as well as monitoring that the Company and the Group has an appropriate system of internal controls and risk management. As of the 2025 annual shareholders’ meeting, the Audit Committee comprises three members: Peter Sjölander (Chairman), Jacqueline Hoogerbrugge and Fredrik Cappelen. The Audit Committee meets all the requirements including accounting and auditing compe- tence as stipulated in the Swedish Companies Act, as well as independence as stipulated in the Swedish Corporate Governance Code (the “Code”). At least four (4) meetings are held annually . Additional meetings are held if required. In 2025, the Audit Committee held 6 meetings, which were recorded in minutes. The attendance of each member at these meetings is presented on pages 60–61. Dometic’ s CFO, the Heads of Internal Audit and Internal Control, Risk Management, Accounting, Business Control, T ax, Treasury , Investor Relations, IT as well as Sustainability participated in the Audit Committee meet- ings. The external auditor participated in the ordinary Audit Committee meetings. The Dometic Group General Counsel serves as secretary at Audit Committee meetings. The Audit Committee’ s tasks include: • To monitor the financial reporting process and review financial reports and submit observations and recommen- dations to ensure their integrity , for the Board’ s approval • To monitor the effectiveness of internal control, internal audit, regulatory compliance and risk management in general, and in particular with regards to the financial reporting • To maintain regular contact with the external auditor and keep itself informed of the outcome of the external audit of the Company and the Group, including the audit of the financial reports and the consolidated financial reports and the conclusions from the quality control carried out by the Swedish Inspectorate of Auditors (Sw. Revisorsinspektionen) • To inform the Board of the outcome of the external audit and explain how the audit contributed to the integrity of the financial reporting and of the role of the Audit Com- mittee in that process • To review and monitor the objectivity and independence of the external auditor as well as the external auditor’ s engagements in tasks other than audit services. • To prepare the proposal concerning election of the external auditor for adoption by the annual share holders’ meeting. In 2025, the work of the Audit Committee focused on monitoring the financial reporting processes, in particular as regards identifying risks and their impact on the quality of the financial reporting processes as well as monitoring the inter- nal control environment by e.g., following up on the results of the work performed by the Risk Management, Internal Control and Internal Audit functions as well as the results from the external audit. The Audit Committee also reviewed the plans of the external audit. In addition, the Audit Committee reviewed the Company’ s Interim reports, Full-year report and Annual report, including the Sustainability report. The work of the Audit Committee in 2025 also focused on funding strategy , expansion of financing sources and cash flow, sustainability reporting processes, follow-up on mergers and acquisitions, non-cash goodwill impairment and tax. Remuneration Committee One of the Remuneration Committee’ s primary tasks is to prepare the Board’ s proposal concerning Guidelines for remuneration for the CEO and the other members of Group Management for adoption by the annual shareholders’ meeting. The Remuneration Committee monitors and evaluates the applied remuneration structure and remuner- ation levels in the Group as well as programs for variable remuneration, both ongoing and those that have ended during the year, for the CEO and the other members of Group Management. The Remuneration Committee also monitors the application of the Guidelines for Remuneration for the CEO and the other members of Group Management adopted by the annual shareholders’ meeting. As of the 2025 annual shareholders’ meeting, the Remu- neration Committee comprises three members: Patrik Frisk (Chairman), Rainer E. Schmückle and Fredrik Cappelen. At least two (2) meetings are held annually . Additional meetings are held if required. In 2025 the Remuneration Committee held three meet- ings, which were recorded in minutes. The attendance of each member at these meetings is presented on pages 60–61. Dometic’ s CEO and the Head of Human Resources participated in the Remuneration Committee meetings. The CEO does not participate in regard to items on the agenda relating to remuneration of the CEO. The Remuneration Committee’ s tasks include: • To review and recommend to the Board the Guidelines for remuneration for the CEO and the other members of CORPORATE GOVERNANCE REPORT 55DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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Group Management for adoption by the annual share- holders’ meeting, if applicable; • To review and make a recommendation to the Board for any changes in the compensation of the CEO and approve changes for the other members of Group Management; • To monitor and evaluate programs for variable remuner- ation, both ongoing and those that have ended during the year, for the CEO and the other members of Group Management; • To monitor and evaluate compliance with the Guidelines for Remuneration for the CEO and the other members of Group Management adopted by the annual shareholders’ meeting as well as the current remuneration structures and remuneration levels in the Group; • To assist the Board in preparing a remuneration report for approval by the annual shareholders’ meeting; • To prepare any proposals for shareholders’ resolutions regarding share or share-price-related incentive programs (if relevant); • To prepare any Board resolutions regarding short-term variable salary and incentive programs not requiring shareholder approval (i.e. variable cash remuneration schemes) for the CEO and Group Management. CEO and Group Management Group Management includes the CEO, the CFO, the four segment presidents and the additional five Group staff heads. The CEO is appointed by the Board. The CEO, in turn, appoints other members of Group Management and shall administer the Company’ s and the Group’ s operations pursuant to the instructions and directives issued by the Board. Group Management holds monthly meetings to review the previous month’ s results, to update forecasts and plans, and to discuss strategic issues. The CEO reports to the Board and ensures that the Board receives the information required to be able to make well-founded decisions. The Company’ s CEO in 2025 was Juan Vargues. He has a Management Education IMD Lausanne (CH); Executive MBA, Lund University (EFL); and high school degree in Mechanical Engineering, T ekniska Vuxen gymnasiet, Gothenburg. Juan Vargues has been Head of Entrance Systems at ASSA ABLOY , has previously worked as President and CEO of the Besam Group and has held several positions within the SKF Group. He holds 871,160 shares in the Company as of December 31, 2025. For details regarding members of Group Manage- ment, see pages 62–63. The information is updated regularly on the Group’ s website www.dometicgroup.com. Changes in Group Management during 2025 Eva Karlsson, President of Land Vehicles EMEA, left the Company in August 2025. Chialing Hsueh was appointed EVP and Head of Business Development as of September, 2025. Announcement that Stefan Fristedt, Chief Financial Officer, will be leaving the Company by the end of April 2026. Remuneration for the CEO and Group Management Guidelines for Remuneration for the CEO and the other members of Group Management are adopted by the annual shareholders’ meeting, based on the proposal from the Board, at least every fourth year. Remuneration to the CEO is resolved upon by the Board, based on proposals from the Remuneration Committee. Remuneration to the other members of Group Management is resolved upon by the Remuneration Committee, based on proposals from the CEO and reported to the Board. The total remuneration shall be based on the position held, individual performance, performance of the Group and be competitive in the country of employment. Remuneration may comprise: • Base salary; • Variable salary; • Long-term incentive programs; • Pensions and other benefits. Members of Group Management shall, in addition to the base salary , dependent on an annual decision by the Board, be eligible to variable salary that is based on short-term annual predetermined and measurable performance targets. In addition to the base salary and variable salary , long- term incentive programs may be implemented. Such pro- grams shall be designed to ensure a long-term commitment to the Group’ s development, be implemented on market terms and have a term of no less than three years. Share and share-price-related incentive programs shall be approved by the shareholders’ meeting. Under special circumstances and if it is necessary to serve the Company’ s long-term interests, including its sustainabil- ity or to ensure the Company’ s financial viability , the Board may in an individual case deviate from the Guidelines for Remuneration for the CEO and the other members of Group Management. In case of such deviation, the next annual shareholders’ meeting shall be informed of the reasons. The Guidelines for Remuneration for the CEO and the other members of Group Management can be found on the Group’ s website, www.dometicgroup.com. External auditor The 2025 annual shareholders’ meeting re-elected Öhrlings PricewaterhouseCoopers AB (PwC) as the Company’ s external auditor for a one-year period until the 2026 annual shareholders’ meeting. Authorized Public Accountant Patrik Adolfson is the auditor in charge of the Company . The external auditor audits the annual accounts and consolidated accounts of Dometic Group AB (publ), the proposed appropriation of the Company’ s profit or loss and the administration of the Board of Directors and the CEO of Dometic Group AB (publ). Based on the audit, the external auditor recommends the annual shareholders’ meeting on adoption of the income statement and balance sheet for the parent Company and the Group respectively , on appropriation of the Company’ s profit or loss and on the discharge from liability of the individual Board members and the CEO for the financial year. In addition, the external auditor provides a review report on the interim report for the third quarter. Pursuant to the decision of the 2025 annual shareholders’ meeting, the external auditor’ s fee until the 2026 annual shareholders’ meeting is paid in accordance with approved invoices within the external auditors’ quotation. When PwC is engaged to provide services other than the audit services, decisions pertaining to the nature, scope and fees for such work are made by the CFO and the Chairman of the Audit Committee. The external audit is conducted in accordance with the International Standards on Auditing (ISA) and generally accepted auditing standards in Sweden. Audits of local statutory financial statements for legal entities outside of Sweden are performed as required by law or applicable regulations in the respective countries and as required by IFAC GAAS1), including issuance of audit opinions for the various legal entities. Dometic’s internal governing documents Dometic’ s internal governing documents, in the form of policies, guidelines and manuals etc., are exemplified on page 51 insofar as they concern the governance of the Com- pany and the Group. The internal governing documents are mainly communicated via the Dometic intranet and are updated as needed on a regular basis to reflect changes in laws, rules and regulations or changes in Dometic’ s opera- tions or processes. Internal control over financial reporting The Board is responsible for internal control and risk man- agement in accordance with the Swedish Companies Act and the Swedish Corporate Governance Code. Below is the Board’ s report on internal control and risk management over financial reporting. The description of the Group’ s system of internal controls and risk management with regards to financial reporting is based on the framework developed by the Committee of Sponsoring Organizations of the Treadway Commis- sion (COSO). The framework comprises five integrated components: the control environment, risk assessment, CORPORATE GOVERNANCE REPORT 56DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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control activities, information and communication, and mon- itoring, as well as 17 fundamental principles related to the five components designed to provide reasonable assurance regarding the achievement of objectives. The description below is limited to internal control and risk management over financial reporting. Internal control over financial reporting aims to provide reasonable assurance of the accurate, reliable and relevant external financial reporting in Interim reports, Full-year reports and Annual reports and to ensure that external financial reporting is prepared in accordance with laws, accounting standards and other requirements applicable to listed companies. Control environment Internal control over financial reporting is based on the overall control environment. Dometic’ s overall control environment combines corporate culture, core values and internal governing documents including processes as the basis for carrying out internal control across the Group. The Board and Group Management set the tone at the top regarding the importance of effective internal control, including expected standards of conduct of the employees. This involves integrity and ethical values, the parameters enabling the Board to carry out its oversight responsibilities, the organizational structure and assignment of responsibility and authority , the process for attracting, developing, and retaining employees, and the rigor around performance measures, as well as incentives and rewards to drive accountability for performance. This is communicated in the form of internal governing documents such as Rules of Procedure for the Board of Directors, Instructions for the CEO, Instructions for the Audit Committee, Instructions for the reporting of financial situa- tion, Code of Conduct, Finance Policy , Information Policy , Insider Policy , Internal Audit Policy , IT Policy , Finance Manual, Internal Control Charter, Processes for internal control and risk management as well as Internal Control Framework - Minimum Internal Control Requirements (MICR). In addition, corporate culture and core values are important parts of the corporate governance of Dometic. Risk assessment Risk management within Dometic comprises a risk frame- work including a risk management process and a risk universe for identification, assessment and prioritization of risks, and for providing risk response i.e., risk mitigating actions as well as effective monitoring. The risk universe is a universe of risks that could impact Dometic’ s ability to achieve established strategic and other objectives including financial targets as well as to achieve objectives of internal control over financial reporting, i.e. to provide reasonable assurance of the accurate, reliable and relevant external financial reporting in Interim reports, Full- year reports and Annual reports, and to ensure that external financial reporting is prepared in accordance with laws, accounting standards and other requirements applicable to listed companies. The risks to which Dometic is exposed are classified into four main categories: Strategic risks, Execution risks, Compliance & Regulatory risks and Reporting risks, whereof the two latter main categories are attributable to internal control over financial reporting. Compliance & Regulatory risks are assessed top-down by Group Management as well as bottom-up by Segment Man- agement and Compliance & Regulatory risk maps are used in the risk assessment. Compliance attributable to internal control over financial reporting relates to laws, accounting standards and other requirements applicable to listed com- panies as well as to internal governing documents e.g., the Finance Policy , Information Policy , IT Policy , Finance Manual, Internal Control Charter, Processes for internal control and risk management as well as Internal Control Framework - Minimum Internal Control Requirements (MICR). Reporting risks are risks associated with Dometic’ s report- ing, information and communication, both financial and non-financial. Reporting risks are divided into the following subcategories: • External reporting risks. • Internal reporting risks. Reporting risks are assessed top-down by Group Manage- ment as well as bottom-up by Segment Management and Reporting risk maps are used in the risk assessment. External reporting is supported by e.g., an Information Policy approved by the Board, and Internal reporting is supported by other internal governing documents. Examples of External reporting risks are related to external reporting, communication and information both financial, such as Interim reports, Full-year reports and Annual reports, and non-financial. Examples of Internal reporting risks are BOARD OF DIRECTORS AND COMMITTEES APPOINTED BY THE BOARD EXTERNAL ASSURANCE PROVIDERS Governing body roles: Accountability to stakeholders for organizational oversight. GROUP MANAGEMENT , SEGMENT MANAGEMENT AND GROUP OPERATIONS Actions including managing risks to achieve objectives. First line roles: Management including managing risks and internal control in business operations to achieve objectives. Second line roles: Expertise, support, monitor and challenge on risk- related matters by Group functions such as Product Development, Operations and Quality, Finance, IT, HR, Marketing, Legal and Compliance, Risk Management and Internal Control, to achieve objectives. INTERNAL AUDIT Third line roles: Provides independent, objective assurance and advice aimed to add value and help the organization to achieve objectives. Source: IIA’ s Three Lines Model. Dometic Three Lines Model Accountability , reporting Delegation, direction, resources, oversight Alignment, communication coordination, collaboration CORPORATE GOVERNANCE REPORT 57DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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related to internal reporting, communication and informa- tion, both financial and non-financial, including decision supporting material and monitoring of performance sup- porting material. During 2025 risk assessments were performed on Group and Segment level as well as per Group Function to assess risks and related risk-mitigating actions to support manage- ment in prioritization of risks and decision on risk-mitigating actions. A more detailed description of Dometic’ s risks and risk management is provided on page 48. Control activities Dometic maintains a comprehensive financial reporting system that enables comprehensive monitoring of Group performance. Financial reports for the different legal entities and segments are reviewed on a continuous basis by the central finance function. This entails thorough monitoring of the financial results in accordance with the financial report- ing calendar for the financial year. Financial data are reported by approximately 80 report- ing units in accordance with the standardized procedures for financial reporting that are stipulated in the Finance Manual. This financial reporting is the basis for the Group’ s consolidated financial reports. The CFO as well as other rep- resentatives of the central finance function meet the segment managers and review the segment’ s results every month. Business reviews are carried out on a quarterly basis, where the CEO, the CFO and relevant representatives of the central functions meet the management of the respective segments to discuss the business. The product portfolio is reviewed on a monthly and quarterly basis as part of the internal process for product development. Larger projects are reviewed at least on a quarterly basis. Dometic also maintains an Internal Control Framework – Minimum Internal Control Requirements (MICR), with the purpose to add value by reducing risks and preventing losses, and to ensure efficiency and effectiveness of internal control over financial reporting. Details about the MICR Internal Control Framework is provided on page 58–59 under Internal Control. Information and communication Dometic maintains information and communication pro- cesses to ensure adequate internal financial reporting, for monitoring of performance and for decision support, as well as for providing accurate, reliable and relevant external financial reporting to the financial markets. Dometic is subject to the provisions of the EU Market Abuse Regulation No 596/2014 (MAR) which contains extensive requirements on Dometic’ s handling of inside information. The MAR regulates how inside information is to be disclosed to the market and circumstances in which publication may be delayed. It also requires Dometic to keep a list of persons working for the Group who have access to inside information about Dometic. Dometic uses InsiderLog, a digital tool, to ensure that the above persons meet the requirements of MAR and the Dometic Insider Policy , from the decision to delay disclosure of inside information all the way to the notice to be submit- ted to the Swedish Financial Supervisory Authority when the information has been disclosed. Only authorized persons in Dometic have access to InsiderLog. For more information, see www.insiderlog.com. Internal information and communication The internal governing documents relevant to internal control over financial reporting are e.g., the Finance Policy , Information Policy , IT Policy , Finance Manual, Internal Control Charter, Processes for internal control and risk management as well as Internal Control Framework Mini- mum Internal Control Requirements (MICR). The documents can be accessed on the Group’ s intranet by all relevant personnel. The CFO reports to the Audit Committee on the results, critical accounting issues and other issues that could affect the quality of the Group’ s external financial reports at the Audit Committee meetings where the Interim reports, Full-year reports and Annual reports are dealt with. The Chairman of the Audit Committee reports on the Committee’ s work to the Board in the form of observations, recommendations and proposed decisions at the Board meeting following the Committee meetings and in the form of minutes from the Committee meetings that are submitted to the Board. Internal financial reports for decision support and for support in monitoring of performance are submitted to Group Management and the Board on a regular basis. External information and communication Dometic aims to provide the financial markets with accurate, reliable and relevant information in a timely manner. The Group has an Information Policy meeting the requirements of a listed company . Financial information is issued regularly in the form of Interim reports, Full-year reports, Annual reports and in press releases on all matters that could materially affect the share price. Interim reports, Full-year reports and Annual reports are to be found at the Group’ s website, www.dometicgroup.com, as well as press releases, presentations and relevant internal governing documents. Monitoring Ongoing evaluations, separate evaluations and some combinations of the two are used to ascertain whether each of the five components of internal control is present and functioning. Ongoing evaluations are performed by the Board, the Audit Committee and management at different levels of the Group, and separate evaluations are conducted as deemed necessary for instance by the Internal Audit function. The Audit Committee evaluates the Group’ s internal control based on the result of the work performed by the Group’ s control functions with a role to play in the internal control over financial reporting, i.e. Internal Control and Internal Audit. The Group’ s control functions are present at the Audit Committee’ s meetings to report on the effective- ness of internal control over financial reporting when the Group’ s Interim reports, Full-year reports and Annual reports are on the agenda for the Audit Committee meetings. The Audit Committee reports the results of its work to the Board, which supports the Board in its monitoring of the effective- ness of internal control over financial reporting and on the adequacy of the reporting to the Board. Dometic Three Lines Model The Dometic corporate governance structure as regards the organization presented on page 52 is further illustrated by the Dometic Three Lines Model, as defined by the Institute of Internal Auditors (IIA), which helps organizations identify structures and processes that best assist the achievements of objectives and facilitate strong governance and risk man- agement. For this purpose, the Three Lines Model defines the roles of Governing Body i.e. the Board of Directors, which are clearly distinguished from those of First Line i.e. Management, Second Line i.e. Group Functions and Third Line i.e. Intern Audit. All roles working together collectively contribute to the creation and protection of value when they are aligned with each other and with the prioritized interests of their stakeholders. Alignment of activities is achieved through e.g. communication, cooperation and collaboration. Internal Control and Internal Audit The Group’ s control functions Internal Control and Internal Audit functions are organized under one lead, the Head of Internal Audit and Internal Control, with different functional reporting lines, to the Audit Committee Chairman for the Group Internal Audit function to ensure its independence, and to the CFO for the Group Internal Control function. Internal Control Internal Control is a Group function within Dometic that shall ensure compliance with the internal governing documents for efficient and effective operations and internal control. The Internal Control Charter internal governing document, including the four building blocks vision, governance, roles and responsibilities, and framework for internal control, is an integral component for fostering sound corporate CORPORATE GOVERNANCE REPORT 58DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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Dometic internal audit and internal control functions apac marineamericas internal control internal audit audit commit tee emea head of internal audit and internal control cfo inter nal audit inter nal control Internal Audit process governance within Dometic. The scope of the Group Internal Control function and the Internal Control Charter is internal control over financial reporting (ICFR). The Head of Internal Control reports functionally and administratively to the CFO. The Internal Control Framework – Minimum Internal Control Requirements (MICR) has been developed and implemented under the leadership of the Group Internal Control function with the purpose to add value by reducing risks and preventing losses, and to ensure efficiency and effectiveness of internal control over financial reporting. The MICR framework is built on a risk-based approach identifying key processes that affect financial reporting and on controls related to these processes. The MICR framework includes systematic MICR self-assessments. The MICR framework is evaluated and adjusted annually and has been updated following the Group’ s expansion and new laws, rules or regulations to ensure it is suited for the Group’ s current needs. This covers nine key processes (entity level controls, purchase to pay , inventory , order to cash, payroll, fixed assets, financial closing, IT and sustainability). The MICR self-assessments results are assessed by the segment Internal Control Coordinators and on a selective basis subject to internal audit by the Internal Audit function. Internal Audit Internal Audit is an independent and objective assurance and advisory function established by Dometic to add value to and improve its operations. It helps the organization accomplish its objectives by bringing a systematic, disci- plined approach to evaluate and improve the effectiveness of risk management, internal control and governance. Internal Audit is a Group function within Dometic that shall act as an independent assurance function for the Board, pri- marily through its Audit Committee, and to support Group Management as an independent Business Advisor. The scope of Internal Audit includes all business operations and processes as well as all management and organizational levels of Dometic in all geographic locations. Its mission, expectations and authority within the organiza- tion are outlined in an Internal Audit Policy approved by the Board. The Policy sets forth the Internal Audit requirements, mission and objective, scope, responsibilities, organiza- tional structure, independence and objectivity , authority , resources and working standards, reporting, as well as qual- ity assurance and improvement program for Internal Audit. The Group Internal Audit function is led by the Head of Internal Audit with segment Internal Auditors located in each segment headquarters. The Head of Internal Audit reports functionally to the Audit Committee Chairman on internal audit matters and administratively to the CFO. The Head of Internal Audit has full access to the Audit Committee and its Chairman. The Group Internal Audit function is authorized full, free and unrestricted access to Dometic’ s records, physical properties and personnel pertinent to carrying out its engagements. The Group Internal Audit function prepares an annual Internal Audit plan, including segment annual Internal Audit plans, utilizing a risk-based approach. The results of the annual risk assessment described in the section Risks and Risk Management on page 48 serve as input to the Internal Audit plans, which means that the plans are directly linked to these annual risk assessment results with risk maps. In addition, input from Group Management and Segment Management to capture business needs, is gathered to ensure effective Internal Audit targeting. The Internal Audit plan is presented annually by the Head of Internal Audit to the Audit Committee for input and approval. Internal audits are conducted based on a defined Internal Audit process incl the internal audit plan and comprising the activities e.g. internal audit announcement and commu- nication of information requests, fieldwork, management response, issuance of Internal audit reports with recommen- dations, and subsequent following up on agreed action plans and deadlines in response to the recommendations to verify their status of implementation. The Internal Audit reports are distributed to different organizational levels and legal entities both at Segment and Group levels as applicable, along with a separate report to the Audit Committee. The Internal Audit methodology includes data analytics as a means of assessing and testing large data populations for selected internal audits, to increase coverage, identify abnormalities and increase testing efficiency . internal audit pl an internal audit announcement and information requests internal audit field work management response (action plans and deadlines ) internal audit report (entity, segment, group, audit committee ) follow up action pl ans and deadlines CORPORATE GOVERNANCE REPORT 59DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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BOARD OF DIRECTORS Fredrik Cappelen Chairman since 2013. Born 1957 . Sweden. M.Sc. in Economics from Uppsala University . Studies in political science at Uppsala University . Member of the Remuneration and Audit Committees. Position and Board membership: Chairman of the board of directors of Transcom WorldWide AB, Eterna Invest AB, Ideal of Sweden AB, Rossignol Group S.A. and Scienta Scientific AB. Member of the board of directors of Securitas AB. Previous positions: Chairman of the board of directors of Dustin Group AB, Byggmax Group AB, Granngården AB, Svedbergs AB, Sanitec Oy , T erveystalo Oy and KonfiDents GmbH. Chairman and deputy chairman of the board of directors of Munksjö AB. Member of the board of directors of Carnegie Investment Bank AB and Cramo Oy . CEO and President of Nobia AB. CEO and member of the Group management of STORA Building-products AB. Vice President Marketing and Sales and member of group management of STORA Finepaper AB. CEO of Kauko GmbH and Kauko International. Board meeting attendance: 12/12 Remuneration Committee attendance: 3/3 Audit Committee attendance: 4/4 Holdings in Dometic: 1,134,040 1) Independence in relation to the Company and its executive management/In relation to major shareholders: Y es/Y es Mengmeng Du Board member since 2021. Born 1980. China. M.Sc. in Economics and Business Administration from Stockholm School of Economics. M.Sc. Computer Science from Royal Institute of T echnology in Stockholm. Position and Board membership: Member of the board of directors of Clas Ohlson Aktiebolag, Tryg A/S and Swappie Oy . Previous positions: Member of the Swedish National Innovation Council. Member of the board of directors of Finnair PLC, Livförsäkringsbolaget Skandia, ömsesidigt, Filippa K Group AB, Skånska Byggvaror AB and Qliro Group AB (publ) as well as a number of managerial positions at Spotify , COO at Acast, VP product development at Stardoll and management consultant at Bain & Company . Board meeting attendance: 12/12 Holdings in Dometic: 2,500 Independence in relation to the Company and its executive management/In relation to major shareholders: Y es/Y es Patrik Frisk Board member since 2023. Born 1963. Sweden. High School Degree Chairman of the Remuneration Committee. Position and Board membership: President Adjacent Business Models, and Member of the Executive Committee at T echnip Energies. Member of the board of directors of First North USWE. Chairman and CEO of Reju. Previous Positions: Member of the board of directors of Gildan Activewear and Two T en Footwear Foundation. Managerial positions at W .L. Gore & Associates, Peak Performance, Lager 157 and Mover Sportswear. VF Corporation: GM The North Face, President Action Sports & Outdoor (The North Face, Vans, Reef, Jansport, Protec), President Timberland Inc., President Outdoor (The North Face, Timberland, Smartwool, Jansport, Lucy). CEO and President Aldo Group. CEO, President and member of the Board of Directors, Under Armour Inc. Board meeting attendance: 12/12 Remuneration Committee attendance: 3/3 Holdings in Dometic: 2,750 Independence in relation to the company and its executive management/In relation to major shareholders: Y es/Y es Jacqueline Hoogerbrugge Board member since 2017 . Born 1963. The Netherlands. M.Sc. in Chemical Engineering from Rijks Universiteit Groningen. Member of the Audit Committee. Position and Board membership: Member of the board of directors of Broadview B. V ., BA Glass I- Serviços de Gestão e Investimentos S.A., Koninklijke Jumbo Food Groep BV and Orion SA. Previous positions: President Operations of Cloetta. Member of the board of directors of Swedish Match AB, IKEA Industries AB and Cederroth International. VP Operations Medical Division and VP Procurement Worldwide Baby Division of Danone. Procurement Director, Factory Director, Supply Chain Manger, Operations Manager and Services Manager of Unilever. Sales Manager Hydrocarbon Sector, Marketing Co-ordinator and Process Engineer of Fluor Daniel Board meeting attendance: 12/12 Audit Committee attendance: 6/6 Holdings in Dometic: 10,000 Independence in relation to the Company and its executive management/In relation to major shareholders: Y es/Y es 1) Through legal entity BOARD OF DIRECTORS 60DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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Peter Sjölander Board member since 2017 . Born 1959. Sweden. M.Sc. in Economics from Gothenburg University . Chairman of the Audit Committee. Position and Board membership: Senior Executive Advisor of Altor. Industrial Advisor to EQT AB. Chairman of the board of directors of Eton Group AB and Active Brands AS. Previous positions: CEO of Helly Hansen AS. SVP , Product & Brand Europe, CMO Global Brand & Global Licensing of AB Electrolux. General Manager Central Europe NIKE CEE and Global Business Director, Nike ACG of Nike Inc. European Director of Footwear, Marketing Director European Outdoor and Director of Marketing Nordics of Nike Europe BV . Marketing and Buying Director of Intersport. Brand Director of Mölnlycke AB. Member of the board of directors of BTX Group A/S, OBH Nordica Group, Varier AS, Fit Flop Ltd, F&S Ltd, SATS Elixia, Stadium AB and Fiskars Oy . Chairman of Superdry plc, Grundens AB, Revolution Race AB, SWIMS AS. Senior advisor to F&S (London, UK). Board meeting attendance: 12/12 Audit Committee attendance: 4/4 Holdings in Dometic: 22,000 1) Independence in relation to the Company and its executive management/In relation to major shareholders: Y es/Y es Rainer Schmückle Board member since 2011. Born 1959. Germany . Degree in Industrial Engineering at the University of Karlsruhe. Member of the Remuneration Committee. Position and Board membership: Chairman of the board of directors of STIGA C (Luxembourg) and STIGA SpA (Italy). Member of the board of directors of Kunstoffteile Schwanden AG (Switzerland) and ACPS Automotive (Netherlands). Previous positions: Member of the board of directors of Autoneum AG (Switzerland), Autoneum Holding Ltd., Canoo Inc., Wittur GmbH, Frostbite Holding AB and MAN Truck&Bus AG. CEO of MAG IAS GmbH. COO Automotive of Johnson Controls, Inc. COO of Mercedes Cars of Daimler AG. President and CEO of Freightliner Corporation. Board meeting attendance: 11/12 Remuneration Committee attendance: 3/3 Holdings in Dometic: 78,895 1) Independence in relation to the Company and its executive management/In relation to major shareholders: Y es/Y es Heléne Vibbleus Board member since 2017 . Born 1958. Sweden. B.Sc. in Business Administration and Economics from Linköping University . Position and Board membership: Member of the Board of Directors of Linjemontage i Grästorp AB. Previous positions: Member of the board of directors of Trelleborg AB, TradeDoubler AB, Scandi Standard AB, Marine Harvest ASA (Norway), Renewable Energy Corporation ASA (Norway), Orio AB, Swedbank Sjuhärad AB, Segulah Medical Acceleration AB and Tyréns AB. Deputy chairman of the board of directors of Swedish International Development Cooperation Agency (SIDA). Chairman of the board of directors of Nordic Growth Market NGM AB and of Invisio Communications AB. Vice President, Internal Audit, Chief Audit Executive, CAE, of Autoliv Inc. Chief Audit Executive, CAE of Elekta AB. Senior Vice President Group Controller of AB Electrolux. Partner and member of the board of directors of PricewaterhouseCoopers, Sweden. Board meeting attendance: 12/12 Audit Committee attendance: 2/2 Holdings in Dometic: 5,000 Independence in relation to the Company and its executive management/In relation to major shareholders: Y es/Y es 1) Through legal entity BOARD OF DIRECTORS 61DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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GROUP MANAGEMENT Juan Vargues Born 1959. President and CEO since 2018. Interim President of segment Land Vehicles until December 31, 2025. Management Education IMD Lausanne (CH), Executive MBA Lund University (EFL), High School Degree in Mechanical Engineering T ekniska Vuxengymnasiet, Gothenburg. Holdings in Dometic: 871,160 1) Peter Jannerö Born 1969. Chief Marketing officer since 2023. Master of Science in Business Administration with a Major in Marketing, School of Economics and Commercial Law, Gothenburg. Holdings in Dometic: 0 Anders Fransson Born 1969. EVP and Head of Group Operations and Sustainability since 2023. MSc in Mechanical engineering, Linköping University , Sweden. Holdings in Dometic: 235 Eric B. Fetchko Born 1962. President of segment Marine since 2022. Mechanical Engineering from British Columbia Institute of T echnology , Vancouver, Canada. Holdings in Dometic: 21,783 Jenny Evelius Born 1969. EVP and Head of Group HR since 2023. MSc Business Administration – Stockholm School of Economics, Sweden. Holdings in Dometic: 6,000 1) Including related party . GROUP MANAGEMENT 62DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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Anton Lundqvist Born 1970. Chief T echnology Officer since 2018. Ph.D. Chemical Engineering – Electrochemistry and T ech. Lic, Chemical Engineering – Electrochemistry from KTH Royal Institute of T echnology . M.Sc. Chemical Engineering – Energy T echnology from KTH Royal Institute of T echnology . Holdings in Dometic: 48,469 Anna Smieszek Born 1964. EVP and Group General Counsel since 2015. Masters of Law from University of Silesia and Stockholm University . PhD studies at Oxford University , Diploma Program in International Law from Stockholm University . Holdings in Dometic: 18,826 Joshua Militello Born 1974. President of Segment Mobile Cooling Solutions since 2024. Bachelor’ s degrees in Political Science and Psychology from State University of New York College at Potsdam. Holdings in Dometic: 6,262 Chialing Hsueh Born 1963. EVP and Head of Business Development since 2025. M.Sc. in Marketing, University of Massachusetts, USA. B.Sc., Soochow University , T aiwan. Holdings in Dometic: 103,955 AUDITOR Patrik Adolfson Born 1973. Auditor in charge, Öhrlings PricewaterhouseCoopers AB. Auditor in charge for Dometic since 2022. Other auditor assignments: Anticimex Group AB, Cavotec Group AB (publ), NCC AB (publ), Röko AB (publ). and Yubico AB (publ). Member of FAR (the institute for the accountancy profession in Sweden). OTHER CHANGES IN GROUP MANAGEMENT Eva Karlsson left Dometic in August 2025. Stefan Fristedt will be leaving his position as Chief Financial Officer by the end of April 2026. Goran Popovski, most recently President of the Mining and Infrastructure Attachments Division at Epiroc, was appointed President of Segment Land Vehicles, as of January 1, 2026. Stefan Fristedt Born 1966. CFO since 2019. Bachelor’ s degree in Business Administration and Economics from the University of Lund and an MBA from the University of Lund. Holdings in Dometic: 35,043 GROUP MANAGEMENT 63DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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SUSTAINABILITY STATEMENT The sustainability statement provides a coherent overview of the Dometic’ s material environmental, social and governance impacts, risks and opportunities, and how these are managed across the value chain. They are presented as a distinct section of the management report, struc- tured in line with the European Sustainability Reporting Standards (ESRS) to enable comparability and informed stakeholder decision-making. General disclosures 65 Environmental disclosures ESRS E1 Climate Change 90 ESRS E2 Pollution 99 ESRS E5 Resource use and circular economy 102 TAX EU T axonomy 107 Social disclosures 112 ESRS S1 Own workforce 113 Governance disclosures 122 ESRS G1 Business conduct 123 Guidance for readers Each chapter heading includes an ESRS code indicating the overarching standard to which the section refers. Both qualitative and quantitative disclosures are accompanied by ESRS references, indicating the specific requirements that Dometic’ s data addresses. Where possible, Dometic has provided quantitative comparisons with data from the previous year. DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT 64
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ESRS 2 GENERAL DISCLOSURES Basis for preparation BP-1 General basis for preparation of sustainability statements Dometic Group AB (publ), headquartered in Stockholm, Sweden, is a publicly listed company . This sustainability report covers the financial year ended December 31, 2025. The report is published annually and has been prepared in accordance with the Swedish Annual Accounts Act, the Corporate Sustainability Reporting Directive (CSRD), and the European Sustainability Reporting Standards (ESRS), as adopted by the European Commission. No additional frameworks have been applied in the overall preparation of this statement. The information presented is based on data and pro- cesses integrated into the Group’ s sustainability governance framework and reflects Dometic’ s material sustainability matters, and their most significant impacts, risks, and opportunities identified through the double materiality assessment. This sustainability statement is prepared on a consoli- dated basis, aligned with the scope of consolidation used in the Group’ s financial statements. It covers Dometic Group AB (publ) and all consolidated subsidiaries (the Group’ s own operations). No subsidiaries within the consolidation perimeter are exempted from individual or consolidated sustainability reporting under Articles 19a(9) or 29a(8) of Directive 2013/34/EU. For the quantitative disclosures under the environmental topical standards, minor sites and sales offices are excluded due to their immaterial impact. These exclusions will be transparently described in each relevant environmental topical standard, along with the rationale and scope of the data reported. The sustainability statement also includes value chain information related to Dometic’ s direct and indirect business relationships (both upstream and downstream), where material impacts, risks and opportunities have been identified. While Dometic strives for transparency , visibility across all tiers of the upstream supply chain and downstream activities remain limited. Dometic has not used the option to omit information relating to intellectual property , know-how, or results of innovation. Further, Dometic has not used the exemption option for impending developments or matters in the course of negotiation. Where applicable, 2024 data is presented in brackets to provide context for year-over-year comparisons. Dometic applies the precautionary principle in sustainability manage- ment and reporting, taking preventive measures whenever environmental or social risks are identified. BP-2 Disclosures in relation to specific circumstances Unless otherwise stated, Dometic applies the time horizon specification as defined in ESRS 1 by adopting the following time intervals as of end of the reporting period: • the short-term time horizon: the reporting period; • the medium-term horizon: from the end of the reporting period up to 5 years; • the long-term horizon: more than 5 years. Where materiality has been identified, Dometic includes information from both upstream and downstream activities. When value chain data are unavailable, Dometic uses expert judgment, estimates, and proxies are used to ensure completeness of disclosures. Dometic is committed to transparent disclosure regarding the nature and scope of methodological or data changes, including explanations of differences between previously reported and revised metrics. Where restate- ments of prior-year figures are not feasible, this is also noted. Changes in the preparation or presentation of sustainability information compared with previous reporting periods are described under each respective sustainability matter. The The general disclosures section sets out the overall context for the sustainability statement, including Dometic’ s business model, strategy , governance, and the process used to determine material impacts, risks and opportunities. It also explains the basis for preparation of the sustain- ability statement, key assumptions and boundaries, ensuring transpar- ency and understandability of all subsequent topic-specific disclosures. BP-1 General basis for preparation of sustainability statements 65 BP-2 Disclosures in relation to specific circumstances 65 GOV-1 The role of the administrative, management and supervisory bodies 67 GOV-2 Information provided to and sustainability matters addressed by the undertaking’ s administrative, management and supervisory bodies 68 GOV-3 Integration of sustainability-related performance in incentive schemes 70 GOV-4 Statement in due diligence 70 GOV-5 Risk management and internal controls over sustainability reporting 71 SBM-1 Strategy , business model and value chain 72 SBM-2 Interests and views of stakeholder 74 SBM-3 Material impacts, risks and opportunities and their interaction with strategy and business model 75 IRO-1 Description of the processes to identify and assess material impacts, risks and opportunities 78 IRO-2 Disclosure requirements in ESRS covered by the undertaking’ s sustainability statement 82 65DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT General disclosures
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General disclosures main change from the previous reporting period is that all sustainability metrics have been restated to include data from acquired entities, unless otherwise specified. The information disclosed in E2-5 is in ranges due to confidentiality reasons. In 2025, Dometic introduced several new entity-specific metrics and targets to enhance sustainability performance monitoring and aligned with international frameworks: • A short-term and medium-term Scope 1 and Scope 2 GHG emission reduction target was introduced. The baseline year for GHG emission reduction targets was changed from 2020 to the 2023 calendar year. Jointly , a renewable electricity target was introduced. Long- term Scope 1 and Scope 2 emission reduction targets remain internal at this stage, pending further data quality improvements and feasibility assessments. For additional information, refer to ESRS E1 on page 90. • A new consolidated product sustainability entity-specific metric was launched to track the share of products devel- oped with sustainability ambition. This metric replaces previous indicators (e.g., energy efficiency , lightweight- ing, life extension) and integrates them into a single, more comprehensive measure. • A new waste diversion rate target for the short and medium term was introduced to advance Dometic’ s circularity efforts and reduce the volume of operational waste sent to landfill. For additional information, refer to ESRS E5 on page 102. • A new entity-specific metric to advance Dometic’ s sus- tainable sourcing program was implemented: the share of high-spend direct material suppliers assessed for sustaina- bility , replacing the 2024 metric focused on ESG audits of new suppliers. The share of the high-spend direct material is planned to be assessed for sustainability in the short and medium term to strengthen oversight and accountability in the supplier due diligence process and enable strategic engagement with suppliers on sustainability topics. The scope of the metric was significantly broadened to include both new and current Dometic’ s strategic direct material suppliers. Dometic’ s use of phase-in provision For the financial year 2025, Dometic has applied the EU Commission’ s Quick Fix, which allows certain ESRS disclo- sures that have been assessed material to be reported under simplified requirements. Dometic made use of the phase-in provision for ESRS E4 Biodiversity and Ecosystems and ESRS S2 Workers in the Value Chain. ESRS E4 Biodiversity and ecosystems Dometic recognizes the importance of biodiversity and ecosystem services, as reflected in its Code of Conduct, which includes a commitment to protect healthy natural ecosystems and their ability to support outdoor leisure activities, core to Dometic’ s business model. This policy calls for proactive measures to minimize negative effects on nature and is grounded in internationally recognized conventions and standards, including the United Nations Global Compact and the Rio Declaration on Environment and Development. Dometic is in the early phases of devel- oping metrics, targets and meaningful actions that align with stakeholder expectations. As of the reporting period, Dometic has not yet devel- oped or implemented metrics for biodiversity and ecosys- tems. No quantitative data or indicators are available for disclosure in 2025. Dometic is planning to initiate baseline data collection and the assessment of nature-related impacts and risks, focusing on ecosystem services. The process will evaluate physical, regulatory , and reputational risks to identify key dependencies on ecosystems, assess site-spe- cific exposures, and inform targeted mitigation actions. This assessment is designed to guide future priorities and support the development of effective metrics, targets and management processes for nature-related risks. Dometic will start assessing its own operations and is planning to extend this work to key suppliers, in line with evolving regulatory requirements. ESRS S2 Workers in the Value Chain Dometic addresses impacts and risks to workers in the value chain through its Business Partner Code of Conduct, which defines expectations on labour rights, working conditions, health and safety , diversity and inclusion, and ethical business conduct. This policy forms the basis of Dometic’ s Human Right Due Diligence Procedures which are designed to identify , prevent, mitigate and remediate actual and potential negative impacts on own workforce and workers in the value chain. These steering documents are grounded in internationally recognized conventions and standards, including the United Nations Global Compact, the Universal Declaration of Human Rights and the International Labour Organization (ILO) Declaration on Fundamental Principles and Rights at Work, the UN Guiding Principles on Business and Human Rights and the OECD Guidelines for Multina- tional Enterprises. Dometic manages impacts and risks to workers in the value chain through its Sustainable Sourcing program, which covers all direct material suppliers, with particular attention to critical suppliers currently defined by spend. Key actions include requiring suppliers to sign the Business Partner Code of Conduct and conducting sustainability assessments via EcoVadis. Through the latter platform, Dometic tracks supplier performance on social sustainability matters. The Sustainable Sourcing program is set to expand its ambition through actions outlined in a roadmap extend- ing to 2030. These actions include broader supplier risk screening, setting improvement targets, and implementing corrective action plans. In 2025, 95% of all direct material suppliers signed the Code of Conduct, and 64% of high-spend direct material suppliers were assessed for sustainability . The program aims for 100% of direct material suppliers to sign the code of conduct and 95% of high-spend direct material suppliers to be assessed for sustainability by 2030. Dometic applies the European Commission’ s transitional provisions (“Quick Fix”) phase-in options in its reporting for the financial year 2025. The exemptions include Standard E4 Biodiversity and Ecosystems and S2 Workers in the Value Chain. Furthermore, phase-in options are applied with respect to the following disclosure requirements and data points: • E1-9 (all datapoints), • E2-6 (all datapoints), • E5-6 (all datapoints), • S1-7 (all datapoints), • S1-8 (non EEA datapoints), • S1-11 (all datapoints), • S1-12 (all datapoints), • S1-13 (all datapoints), • S1-14 (data points related to cases of work-related ill- health, number of days lost to injuries, accidents, fatalities and work-related ill-health of non-employees) and • S1-15 (all datapoints). The objective is to ensure a gradual and quality-assured implementation of CSRD reporting in line with applicable EU regulations. For further details on the materiality status of ESRS E4, ESRS S1, and ESRS S2, refer to T able 4 on page 76. Dometic’ s sustainability statement has been subject to limited assurance by Öhrlings PricewaterhouseCoopers AB (PwC). Except for PwC’ s assurance, no other sustainability metrics in this report have been externally validated. The limited assurance engagement performed by PwC did not include verification of conformity with any specific ISO/IEC or CEN/CENELEC standard. No information has been incorporated by reference in this Sustainability Statement. 66DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT
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Governance GOV-1 The role of the administrative, management and supervisory bodies The objective of this Disclosure Requirement is to provide The Board of Directors holds the ultimate responsibility for overseeing sustainability-related matters, including the management of sustainability impacts, risks, and opportu- nities. The Board of Directors consists of seven members: three women (43%) and four men (57%). Six members (86%) are over the age of 50, and all are over 30. In terms of nationality , the Board includes four Swedish members (57%), one German member (14%), one Dutch member (14%), and one Chinese member (14%), reflecting Dometic’ s international presence and operations. All members are considered independent in accordance with applicable corporate governance standards. This corresponds to 100% independent board members. The Board demonstrates diversity in both nationality and professional background. The professional backgrounds of the Board members span a wide range of industries and expertise, including executive leadership in global manufacturing, consumer goods, finance, technology , and corporate governance. Several members have held senior positions such as CEO, CFO, or board chair in multinational companies, and possess experience in areas such as oper- ations, strategy , product development, and sustainability . This diversity of gender, age, nationality , and professional experience supports the Board’ s ability to oversee Dometic’ s global business and address the varied challenges and opportunities across its markets. The expertise and skills of Dometic’ s Board of Directors and Group Management include strategic leadership, corporate and sustainabili- ty-related competences. Several members have experience in overseeing sustainability strategy risks, or disclosures, in addition to deep operational and industry knowledge. Expertise in global manufacturing equips the Board to understand and maintain clear oversight of climate-related impacts and risks across operations and the value chain, and to recognize, for example, the need for climate adaptation initiatives within business contingency plans. Further, expertise in governance and internal control equips the Board to provide a robust oversight of sustainability IROs, and the integration of sustainability reporting into estab- lished governance processes. Overall, the Board’ s collective experience across manufacturing, governance, finance, technology , and sustainability enables it to understand and oversee the company’ s most significant sustainability IROs, and to integrate these considerations into strategic deci- sion-making and reporting processes. To support continuous improvement, both the Board and Group Management are committed to ongoing learning as sustainability legislation, standards and stakeholder expecta- tions evolve. In addition, the Board and Group Management have access to internal and external sustainability experts and advisors as needed to support decision-making and ensure regulatory alignment. Dometic’ s Group Management consists of ten members: three women (30%) and seven men (70%) with a wide range of nationalities. All members are over the age of 50. There is no formal representation of employees or other workers in either the Group Management or the Board of Directors. The professional backgrounds of Group Management span a wide range of expertise, including executive leadership in global manufacturing, finance, technology , human resources, legal, product development, and operations. This diversity of gender, nationality , age, and professional experience supports Group Management’ s ability to oversee Dometic’ s global business and drive the integration of sustainability into strategy , operations, and business processes. The President and CEO, together with Group Manage- ment, are accountable for integrating sustainability into Dometic’ s strategy , operations, and business processes. Responsibilities include overseeing the company’ s material sustainability impacts, risks, and opportunities, driving continuous improvement, and ensuring compliance with evolving reporting requirements and sustainability perfor- mance indicators. Dometic’ s Executive Vice President (EVP) & Head of Group Operations & Sustainability leads the overall sustaina- bility agenda, including the implementation of sustainability targets. The EVP & Head of Group Operations & Sustain- ability reports directly to the President & CEO, who in turn reports to the Board of Directors. To support oversight, the Dometic Group Sustaina- bility Committee serves as an internal governance body dedicated to shaping sustainability priorities, developing targeted initiatives and programs, and embedding sustain- ability across the organization. The committee comprises senior executives, including EVP and Head of Group Oper- ations & Sustainability , Chief T echnology Officer, Global Sustainability Officer, Global Head of Product Sustainability , Head of Group Business Control, and Group Sustainability Controller. Progress towards several of the sustainability tar- gets is regularly reviewed by Group Management, ensuring ongoing oversight and accountability . The Group Sustain- ability Committee is chaired by the Global Sustainability Officer, who reports to the EVP & Head of Group Operations & Sustainability . The Committee reports to Group Manage- ment and provides updates to the Board through the CEO as part of the established governance process. Dometic’ s Executive Vice President (EVP) & Head of Group Operations & Sustainability and Chief Financial Officer (CFO) share accountability for the company’ s compli- ance with the Corporate Sustainability Reporting Directive (CSRD). The CFO is responsible for sustainability data gov- ernance, and coordination of non-financial reporting across the organization, ensuring alignment between financial and non-financial disclosures and integrating sustainability into internal controls. The Ethics Committee is an internal governance body that monitors compliance with applicable laws and regulations and the Dometic Code of Conduct. It consists of represent- atives of the Legal, Internal Audit and Control and Human BOARD OF DIRECTORS Oversees and approves the overall direction and ambition of sustainability targets. GROUP SUSTAINABILITY COMMITTEE Internal advisory body to Group Management and the Board on targets and implementation. CEO AND GROUP MANAGEMENT Design, set, and implement targets in day-to-day operations, ensuring they are embedded in business strategy and actions. BUSINESS FUNCTIONS Implement sustainability strategy through developing specific initiatives and programs to achieve targets. 67DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT General disclosures
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General disclosures Resource departments. The Head of Internal Audit and Control, who reports administratively to the CFO, presents the reported cases and their handling to the President & CEO on a quarterly basis and to the Chairman of the Audit Committee on a half-year basis. The Board of Directors oversees the setting of sustain- ability targets and monitors progress through established governance processes. This includes review and approval of targets by the Board and regular reporting cycles where the President & CEO and Group Management present updates on sustainability performance. Progress is tracked using metrics and dashboards integrated into segment and functional business performance reviews on a monthly or quarterly basis. The Group Sustainability Committee provides updates to Group Management and, through the Executive Vice President (EVP) & Head of Group Operations & Sustainability , ensures that the Board is informed as part of the established governance process. The responsibilities over the impacts, risks and opportu- nities are formally set out in the Board’ s Rules of Procedure, the mandates of Group Management and its committees, and in internal governing documents such as the Internal Control Framework, the Sustainability Reporting Manual, the Financial Reporting Manual, the Human Rights Due Diligence Procedures, Health and Safety Guidelines and related process documentation for Dometic’ s Enterprise Risk Management. GOV-2 Information provided to and sustainability matters addressed Overall accountability for sustainability governance rests with the Board of Directors. The Board formally approves key governing documents that set the strategic direction for sus- tainability , including the Code of Conduct and the Diversity , Equity and Inclusion Policy . These documents serve as the foundation for additional governing documents including operational guidelines and procedures developed and maintained by senior executives within Group Management. Senior executives in Group Management are accounta- ble for ensuring that the company’ s governing documents are up to date, reflect stakeholder expectations, and comply with applicable regulations. They are responsible for approv- ing these documents and ensuring that appropriate teams are tasked and resourced to prepare and maintain them. Sustainability is an integrated part of Dometic’ s strategy . The company’ s sustainability commitments and ambitions are operationalized into action through programs, road- maps, metrics, goals and targets. Dometic’ s sustainability governance is supported by a structured internal framework that ensures regular and informed decision-making by the Group Management and the Board of Directors. The Board and Group Management ensure that appropriate mechanisms for monitoring performance against sustaina- bility targets are embedded in the operational governance framework, enabling regular review and adaptation. The Board of Directors is informed about material impacts, risks, and opportunities, as well as the implementation of due diligence and progress on sustainability targets, through quarterly reporting cycles that include externally disclosed sustainability metrics and dashboards. These updates are presented by Group Management as part of established governance processes. The Group Sustainability Committee, which meets every month, is the central internal body responsible for prepar- ing and coordinating sustainability-related information. This includes updates on strategic initiatives, governance structures, and progress toward key sustainability objectives. In 2025, the Committee particularly focused on climate change (negative impacts, risks, and opportunities), energy (positive and negative impacts, risks, and opportunities), human rights (negative impacts and risks), and sustainability reporting developments. While the Board of Directors retains ultimate responsibil- ity for the oversight of sustainability matters, this responsi- bility is supported by the Audit Committee (AC). The Audit Committee oversees the integrity and statutory compliance of Dometic CSRD reporting. To support oversight, a desig- nated member of the internal Group Sustainability Com- mittee is tasked with preparing and presenting a briefing at the AC meetings. These presentations cover significant developments in Dometic’ s DMA as well as updates on the Group’ s sustainability reporting developments. Dometic’ s administrative, management, and supervisory bodies consider material impacts, risks, and opportunities (IROs) as part of their strategic and risk oversight. Material IROs are identified and validated through the DMA process, as detailed in section ESRS 2 IRO-1 on page 78. The results of the DMA are formally presented to the Group Sustaina- bility Committee, which reviews and discusses the findings in the context of Dometic’ s overall sustainability strategy and risk landscape. Following this, the DMA outcomes are escalated to Group Management and the Board of Directors for further deliberation. These findings serve as a structured input for strategic planning within Group Management and Board of Directors sessions and the Enterprise Management process, as described in section ESRS 2 GOV-5. Currently , Dometic does not have a fully formalized process for systematically integrating material IROs identified through the DMA into decision-making related to major investment and transaction activities. Sustainability-related IROs are considered through existing strategic, risk and gov- ernance processes, and the company continuously reviews its governance practices in line with regulatory expectations. In June 2025, the Board held a strategic planning session in which sustainability was a key topic. During the session, the President and CEO, the EVP and Head of Group Opera- tions and Sustainability , and the Chief T echnology Officer led in-depth discussions on the Group’ s medium- and long-term climate change targets, with particular focus on Scope 3 emissions reduction, to address the IROs of climate change. Execution of sustainability plans, actions and programs is driven by cross-functional teams at segment level. These teams are responsible for translating Dometic’ s sustainability strategy into tangible initiatives across the business. They integrate sustainability principles into core areas such as operations, working conditions, supply chain, and product development. Through cross-functional collaboration and action plans, they drive measurable improvements, monitor progress against sustainability targets, and adapt initiatives to address emerging risks and opportunities of Dometic’ s material sustainability matters. 68DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT
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T able 1. Dometic’ s steering documents Governing document Key content and main objective ESRS reference Senior level accountability Stakeholder awareness and implementation mechanisms Code of Conduct and Business Partner Code of Conduct Defines mandatory principles governing behavior across the company and its entire value chain, including human rights, labor, environment, and business ethics. It sets expectations for employees and business partners to act responsibly, ethically, and sustainably across Dometic’s value chain. It is based on international conventions and standards, including the UN Global Compact, Universal Declaration of Human Rights, ILO declaration, Rio Declaration and UN Convention Against Corruption. All material topics President and CEO Available in multiple languages; implemented via mandatory training for employees every two years; supplier compliance via signed agreements and online course. Diversity, Equity and Inclusion Policy Outlines commitments to fostering an inclusive and respectful culture, promoting non-dis- crimination, and ensuring equity across its workforce. It sets expectations to contribute to a workplace where everyone is treated fairly, feels valued, and has equitable opportunities to grow and contribute. All material topics EVP and Head of Group HR Available via Dometic’s intranet, embedded in Code of Conduct training, and supported by Dometic Academy resources. Implementation is driven through Segment action plans to actively integrated these principles into local practices and initiatives. Sustainability Reporting Manual Defines procedures and guidance for preparing consistent, accurate, and transparent sustain- ability disclosures across the Group. It sets expectations for data collection, validation, and reporting practices to ensure alignment with applicable standards and internal requirements. ESRS 2 and all material topics CFO Available via Dometic’s intranet, developed with internal stakeholder input, and aligned with the reporting tools in use. Health and Safety Guidelines Defines procedures and responsibilities for maintaining safe and healthy working environments across all Dometic sites. It sets expectations for risk assessment, training, incident reporting, and continuous improvement, ensuring compliance with internal standards and legal require- ments. S1 EVP and Head of Group HR Available via Dometic’s intranet. Supported by multilingual training; implemented via local teams and awareness campaigns. Human Rights Due Diligence procedures and guidelines Outlines Dometic’s structured approach for identifying, assessing, and managing human rights risks across its operations and value chain. It sets expectations for risk assessment, action planning, monitoring, and remediation, ensuring alignment with international standards and regulatory requirements. S1 Group Ethics Committee Available via Dometic’s intranet and is implemented through workshops, segment-level projects, action plans documented in an HRDDD risk register. Restricted Substance List (RSL) Outlines substances that are banned or restricted in Dometic’s products, materials, and pack- aging, in line with international regulations such as RoHS, REACH, and California Proposition 65. It sets expectations for suppliers to report the presence of regulated substances and supports compliance with legal and customer requirements. E2 CTO The list is available via dometicgroup.com and is regularly updated to reflect evolving legislation and best practices implemented via cross-functional meetings and compliance reviews. Product Design for Sustainability Guidelines Provides principles and recommendations for integrating environmental sustainability into prod- uct design. It supports the definition of sustainability targets in product development projects and the classification of ambition levels (A–D), promoting resource efficiency, sustainable materials, recyclable design, low–global warming potential (GWP) refrigerants, and transparent assess- ments through Life Cycle Assessments (LCAs) and Environmental Product Declarations (EPDs) E1, E2, E5 CTO Available via Dometic’s intranet, implemented through training in Dometic Academy, integration into product development processes, and periodic tracking of sustainability ambition levels at the project level. 69DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT General disclosures
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GOV-3 Integration of sustainability-related performance in incentive schemes Non-financial targets for innovation and sustainability are embedded in Dometic’ s long-term incentive programs, reinforcing strategic accountability . The long-term incentive programs includes year-over-year carbon intensity reduc- tion targets (tCO₂/net sales) for Scope 1, 2, and Scope 3.1 emissions, as well as a target for increasing the share of female managers. Each of these two targets carry 10% weight. Additionally , the target for Product Innovation Index is also weighted at 10%, to encourage innovation in product development and sustainability . In total, 30% of the long-term incentive programs are tied to these three non-fi- nancial targets, supporting progress toward Dometic’ s long-term goals. Dometic has two long-term incentive programs, both linked to the Company’ s sustainability targets. One program covers the President and CEO and the other members of Group Management. The other program covers additional senior executives and selected key employees within the Group. Senior executives and selected key employees are nomi- nated by segment or functional heads and approved by the President and CEO. This group represents approximately one percent of the global workforce. The number of individ- uals covered may vary from year to year, and participation is not guaranteed over time. In 2025, 20% of the long-term incentive remuneration recognized for Group Management was linked to climate- related considerations, as defined by the portion of the long- term incentive tied to carbon intensity reduction targets. The Board of Directors is responsible for approving and updating the main terms and conditions of the incentive schemes for the CEO and Group Management. The Board’ s Remuneration Committee prepares proposals and monitors the application and structure of these schemes. Implementation of new incentive plans, as well as decisions on target performance and participants, are subject to annual approval by the Board of Directors. GOV-4 Statement in due diligence As outlined in Dometic’ s Code of Conduct and Sustaina- bility Platform, Dometic is committed to respecting and promoting human rights, protecting the environment, and enhancing resource efficiency across our operations and value chain. Dometic actively works to minimize the risk of adverse impacts on people and the environment, both directly and indirectly . To support this commitment, due diligence processes are embedded across Dometic’ s operating model. An overview of these elements and its proactive approach to identifying, assessing, and addressing social and environmental risks and impacts across its operations and value chain is pre- sented in the following table. Dometic’ s approach to identifying, assessing, pre- venting, mitigating, and remediating human rights risks is governed by the company’ s Human Rights Due Diligence procedures. These procedures align with the UN Guiding Principles on Business and Human Rights (UNGPs) and reflect internationally recognized best practices in human rights risk management. Dometic’ s human rights risk assessment process includes a review of internal and external documentation, as well as surveys and workshops engaging representatives from global functions and regional segments. The assessment covers both Dometic’ s own workforce and its Tier 1 direct material and finished good suppliers. Findings from the risk assessment for own workforce inform segment-specific mitigation plans. Accountability for the design and implementation of preventive and mitigation measures relating to own workforce lies with the Heads of Human Resources in each segment. The assessment results also feed into the Group’ s DMA, ensuring alignment between human rights due diligence and overall sustainability reporting. In line with industry peers, Dometic’ s most salient human rights issues primarily concern labor rights and working conditions, both within its own operations and across the value chain. T able 2. Core elements of due diligence with references Core elements of due diligence Paragraphs in the sustainability statement a) Embedding due diligence in governance, strategy and business model i. ESRS 2 GOV-2 ii. ESRS 2 GOV-3 iii. ESRS 2 SBM-3 b) Engaging with affected stakeholders in all key steps of the due diligence i. ESRS 2 GOV-2 ii. ESRS 2 SBM-2 iii. ESRS 2 IRO-1 iv. ESRS 2 MDR-P v. Topical ESRS c) Identifying and assessing adverse impacts d) Taking actions to address those adverse impacts i. ESRS 2 IRO-1 ii. ESRS 2 SBM-3 e) Tracking the effectiveness of these efforts and communicating i. ESRS 2 MDR-A: Topical ESRS outline the actions taken and action plans designed to address adverse actual and potential impacts. ii. ESRS 2 MDR-T: Topical ESRS disclose the targets used to track effectiveness of actions and policies. iii. ESRS 2 MDR-M: Topical ESRS disclose the metrics and monitoring mechanisms to evaluate progress and outcomes 70DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT General disclosures
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GOV-5 Risk management and internal controls over sustainability reporting As a global company with operations and value chain spanning across multiple geographies, Dometic is exposed to a range of risks that could impact the achievement of its strategic, financial, and non-financial targets. Dometic’ s Enterprise Risk Management (ERM) frame- work classifies risks into four primary categories: strategic, execution, compliance and regulatory , and reporting risks. Sustainability reporting risks are assessed annually by internal stakeholders, including the CFO. The ERM process uses two main criteria for risk assessment: the potential financial impact (scored 1–5) and the probability of occurrence (scored 1–5). Risks are prioritized based on their combined scores, and thresholds for escalation are set according to the Group’ s risk appetite and governance requirements. The annual risk assessment is conducted at Group, Segment, and Group Function levels, and the results, including risk registers and risk maps, are reported to the Audit Committee. This process ensures that sustainability reporting risks are regularly reviewed, prioritized, integrated and addressed as part of Dometic’ s overall risk management and internal controls. The internal control framework for sustainability reporting is embedded within Dometic’ s broader internal control sys- tem and follows the same three-lines-of-defense structure as the financial reporting process. Dometic’ s Minimum Internal Control Requirements (MICR) include a mix of manual and automated controls. These controls are mandatory at local (legal entity), segment, and Group levels, and are designed to ensure data completeness and accuracy . Manual controls include data entry checks against invoices, review and approval of reported figures, and reconciliation of metrics to source data. Manual controls are conducted in the reporting tools, such as data capture in the company-wide GHG accounting and reporting platform and the company-wide health and safety incident reporting platform. Validation pro- cedures involve cross-checking reported data against source documents, with supporting documentation archived for audit evidence. Each sub-process has a designated owner responsible for data accuracy and control performance, ensuring accountability across all organizational levels. Roles and responsibilities for sustainability reporting controls are clearly defined. Control self-assessment (CSA) is performed by the individual responsible for each sub-pro- cess, often in consultation with the sub-process owner. For example, local site managers enter and validate energy data, while EHS managers review and approve figures prior to reporting. Segment Sustainability Controllers oversee data accuracy and investigate anomalies, while the Group Sustainability Controller compiles and verifies quarterly and annual sustainability reports. Evidence of control performance, such as documented checks, participation lists, and audit reports, is maintained and reported through established systems. The Group and Segment Controlling organizations support local teams in implementing improve- ments to sustainability reporting controls, ensuring that identified control gaps are addressed through structured follow-up, documentation, and alignment with internal control standards. Controls are reviewed and tested at defined intervals, quarterly , annually , or as needed, depending on the asso- ciated risk. For example, energy consumption data and supplier sustainability assessments are verified quarterly , while mandatory training programs are reviewed annually . Control effectiveness is tested at least once a year by some- one independent of the control performer. Controls are assessed using a maturity scale (1–6), and remediation plans are initiated for those not yet fully implemented. Progress is tracked through the CSA matrix. Group Internal Control reviews the design and operating effectiveness of key controls annually , and Internal Audit performs independent testing on a risk-based schedule. Results and improvement actions are reported to the Audit Committee. To further strengthen the reporting process and mitigate risks related to system complexity and process fragmenta- tion, Dometic introduced a Sustainability Reporting Manual in 2025. This manual, along with newly designed internal controls, supports consistent and reliable sustainability reporting. These controls are subject to regular review and refinement to ensure continued effectiveness. Dometic continues to evolve its ERM practices by inte- grating sustainability impacts, risks, and opportunities iden- tified through the DMA into strategic planning and broader risk management processes. The DMA has strengthened the identification of sustainability risks and impacts, sharpening Dometic’ s focus on climate change, resource efficiency , and evolving regulatory requirements. Insights from the DMA, combined with climate-related risk assessments, guide mitigation strategies that are regularly reviewed by manage- ment. Beginning in 2025, DMA findings were integrated into the ERM process, influencing the annual risk cycle and driving closer alignment between sustainability priorities and overall risk governance. 71DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT General disclosures
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T able 3. Dometic Sustainability T argets Area Metric Actuals 2025 Target 2025 Target 2026 Target 2030 Planet E Percentage of renewable electricity in operations (entity-specific) 36% 35% 45% 70% GHG emission reduction Scope 1 & 2 (vs 2023 baseline) 32% 25% 38% 45% Percentage of waste diverted from landfill 76% Internal target 75% 90% Percentage of new product development projects with a significant sustainability ambition (enti- ty-specific) 36% 70% 70% 80% People S Lost Time Injury Frequency Rate (LTIFR) 0.7 1.5 1.0 <1.0 Percentage of female managers (entity-specific) 31% 30% 30% 30% Governance G Percentage of employees completing Code of Conduct training (entity-specific) 97% 100% 100% 100% Percentage of direct material suppliers that have signed the Code of Conduct (entity-specific) 95% 100% 100% 100% Percentage of high-spend direct material suppliers assessed for sustainability (entity-specific) 64% 65% 70% 95% Strategy SBM-1 Strategy , business model and value chain As a pioneer in Mobile Living, Dometic is committed to sustainability . Millions of people around the world buy and use Dometic products as part of a growing movement of individuals who enjoy an active, mobile outdoor lifestyle, driven by a desire for freedom, adventure, and proximity to nature. Dometic wants nature to be for everyone to enjoy and explore. To meet rising demand for Mobile Living, Dometic delivers innovative, durable, and low-carbon products. The company serves Original Equipment Manufacturers (OEMs) of recreational vehicles, boats, and commercial vehicles, as well as retailers, distributors, and e-commerce channels. In addition, Dometic operates a Service & Aftermarket business providing replacement products, upgrades, spare parts, consumables and accessories through independent dealers and its own service network, with a strategic goal to expand this business to extend product lifetimes. Dometic’ s offering spans four main portfolio areas, including: • Food & Beverage: Portable and vehicle-integrated refrigerators, coolers, camp kitchens, cooking solutions, drinkware, and related accessories. • Climate: T emperature-control solutions for recreational vehicles, boats, and trucks, including air conditioning, heating, ventilation, and awnings. • Power & Control: Electrical and control systems for mobile applications, such as solar power systems, inverters, battery solutions, electronic controls and marine steering systems. • Other Applications: A broad selection of complementary products, including camping furniture, outdoor gear, sani- tation solutions, roof racks, and other standalone items. Changes in Business and Portfolio in 2025 Key launches included the Dometic Recon series of cooling products and the DG3 Gyro boat stabilizer. Some products have been modified or discontinued due to regulatory requirements. As part of its strategic transformation, Dometic consoli- dated its three regional Land Vehicles segments, Americas, EMEA, and APAC, into a single Land Vehicles segment, effective from the Q1 2026 interim report. This restructuring enhances global coordination and operational efficiency . In 2025, Dometic reported total revenue of SEK 21,042 m. The breakdown by segment was as follows: Land Vehicles SEK 9,169 m, Marine SEK 4,814 m, Mobile Cooling Solutions SEK 5,087 m, and Global Ventures SEK 1,971 m. This reflects the company’ s global footprint, with the geographical region Americas remaining the largest contributor to net sales. By sales channel, Service & Aftermarket accounted for SEK 6,170 m, Distribution for SEK 6,794 m, and Original Equipment Manufacturer (OEM) for SEK 8,078 m. Portfolio optimization included discontinuing non-stra- tegic and low-margin businesses such as large residential compressor refrigerators for RVs, hot & cooking appliances and window products in Land Vehicles Americas, gener- ator products in Global Ventures, and selected camping equipment in Land Vehicles EMEA. Certain RV awning and replacement fabric models were discontinued to streamline offerings. The restructuring program continues and since it started one manufacturing site and 4 distribution centers/ warehouses have been closed to improve Dometic’ s utilization and efficiency . In addition to publicly disclosed sustainability targets, Dometic developed internal Scope 3 targets. These targets address purchased goods and services (Scope 3.1), transportation and logistics (Scope 3.4 & 3.9), and use of sold products (Scope 3.11). They guide strategic decisions and will be disclosed externally once reliable tracking and verification, ensuring transparent and accurate reporting. See ESRS E1 on page 90. Dometic’ s sustainability goals extend across its product portfolio, customer segments, and global operations. For products and services, Dometic aims for 80% of new product development projects to include significant 72DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT General disclosures
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sustainability ambitions, focusing on energy efficiency and circular design. Current offerings in mobile cooling and climate control already integrate energy-efficient technolo- gies, supporting the company’ s ambition to reduce climate impact. Based on the assessment of the performance of this target since its inception this year, Dometic is investigating further on how to improve this metric to better reflect the product sustainability work. For customer categories, Dometic seeks to expand after- market services globally to enhance product longevity and circularity . This aligns well with OEM partnerships, where sustainability requirements are increasingly integrated into design and sourcing. Retail and e-commerce channels also provide opportunities to promote low-carbon and durable products to end-users. In terms of suppliers as stakeholders, Dometic aims for 100% of direct material suppliers to sign the Code of Conduct and 95% of high-spend suppliers to undergo sustainability assessments by 2030. Current supplier engagement programs are on track, but achieving full compliance will require deeper collaboration in regions with lower regulatory standards. Geographically , operations in EMEA, APAC, and the Americas have renewable electricity targets for 2026 to contribute to the Group’ s 2030 goal of 70% renewable electricity use. While progress is strong in EMEA, APAC and certain Americas sites, additional investment is required to meet interim milestones. The main challenges ahead include reducing Scope 3 emissions across the value chain, ensuring compliance with evolving sustainability regulations, and mitigating risks related to material scarcity and geopolitical instability . Critical solutions to address these challenges include accelerating circular design initiatives, expanding aftermar- ket services to extend product life, transitioning all manu- facturing sites to renewable electricity , and strengthening supplier engagement through sustainability assessments and capacity-building programs. Dometic is also investing in innovation projects focused on low-carbon materials and energy-efficient technologies to meet its 2030 targets. Dometic value chain Dometic Group operates a broad and complex value chain that spans multiple regions and stakeholder groups. Upstream activities and actors include direct suppliers of raw materials and finished products, as well as indirect suppliers such as providers of freight and logistics services. Key raw materials by spend include plastics, followed by packaging materials, steel, foam, aluminum, copper, and brass. A significant share of Dometic’ s direct material suppliers is in countries with low manufacturing costs, such as China. Own operations consist of more than 20 manufacturing and assembly facilities across the Americas, EMEA, and APAC geographical regions. Core production processes include plastic molding, metalworking, welding, forming, and refrigerant filling. At the end of the 2025 reporting period, Dometic employed 7 ,164 people globally . Blue-col- lar workers represented 55% of the workforce, alongside contracted personnel supporting production and other functions. For details in the workforce demographics, see S1-6, on page 119. Transportation and logistics are integrated throughout the value chain, covering upstream sourcing, own operations, and downstream distribution. These activities involve a wide network of indirect service providers, logistics partners, and customer pickup solutions across multiple geographies. Downstream, Dometic maintains a global sales pres- ence and serves both business-to-business (B2B) and business-to-consumer customers (B2C) through a variety of sales channels. Dometic products are available across key geographical regions, reflecting a broad and diverse market reach. Dometic’ s products are used globally , often in mobile and off-grid environments. End-of-life handling is similarly global, involving a wide range of local actors and waste manage- ment systems. Dometic participates in Extended Producer Responsibility (EPR) schemes, in line with applicable regula- tions across various jurisdictions. Dometic is not active in the fossil fuel sector as defined in Article 2, point (62), of Regulation (EU) 2018/1999 and does not derive revenues from exploration, extraction, process- ing, storage, refining, or distribution of fossil fuels, including coal, oil, or gas. Furthermore, Dometic does not generate revenues from T axonomy-aligned economic activities related to fossil gas under Article 8(7)(a) of Commission Delegated Regulation 2021/2178. Dometic is not active in chemicals production as defined under Division 20.2 of Annex I to Regulation (EC) No 1893/2006 and does not derive revenues from the manu- facture of plastics in primary forms or synthetic rubber. Dometic is not active in the production, distribution, or sale of tobacco products, nor does it derive any revenue from such activities. Dometic is not active in the production, Illustration 1. Dometic’ s value chain Workers in the value chain Suppliers, subcontractors, business partners RAW MATERIAL SUPPLIERS FINANCE CUSTOMERS SOCIETY ENVIRONMENTPRODUCTION PRODUCTS OWN WORKFORCE OFFICES AND DISTRIBUTIONS- CENTERS OWN OPERATIONSUPSTREAMS DOWNSTREAMS 73DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT General disclosures
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distribution, or sale of controversial weapons, including anti-personnel mines, cluster munitions, chemical weapons, or biological weapons. The company does not derive any revenue from such activities. Dometic acknowledges the upcoming requirement to disclose revenue breakdowns by significant ESRS sectors and to identify additional significant sectors as per ESRS 2 SBM-1 paragraphs 40(b) and 40(c). As the relevant Commission Delegated Act specifying the application date has not yet been adopted, Dometic will incorporate these disclosures in accordance with the timeline set forth by the European Commission. Dometic sources key raw materials such as plastics, metals, and packaging through a global network of suppli- ers, prioritizing quality , compliance, and sustainability . The company applies a structured approach to securing inputs, including supplier onboarding processes, adherence to the Business Partner Code of Conduct, and sustainability assess- ments for high-spend suppliers. Dometic collaborates with strategic partners to develop innovative materials that sup- port circularity and reduce carbon impact. Risk management measures include monitoring geopolitical developments, diversifying sourcing regions, and implementing corrective actions through audits and training programs. SBM-2 Interests and views of stakeholders The purpose of stakeholder engagement is to ensure that Dometic’ s strategy and business model reflect stakeholder priorities, regulatory trends, and emerging sustainability risks and opportunities. Their input is essential for under- standing expectations related to Dometic’ s sustainability matters and informs the evaluation of IROs across the business and value chain, and directly influences the prior- itization of climate mitigation, human rights, and ecosystem services in Dometic’ s strategic sustainability focus areas. This understanding forms a core input into the development and continuous refinement of Dometic’ s strategy and business model, ensuring they remain aligned with stakeholder priorities and evolving external expectations. Dometic’ s Sustainability Platform was first developed in 2022 based on a strategic review that incorporated macro trend analysis and stakeholder feedback to define focus areas, targets, and metrics. In 2024, the platform was updated through additional assessments, including benchmarking and the DMA, with stakeholder engagement at the core. This included direct dialogue with customers, investors, and lenders, and a survey sent to 83 stakeholders, including investors, customers, suppliers, employees, and Group Management, with 67 responses received. As a result of stakeholder feedback, Dometic amended its sustainability strategy by prioritizing climate mitigation and human rights, and further integrated these priorities into product development and sourcing practices, reinforcing the resilience of its business model. These adjustments were directly informed by insights gathered through the DMA and the due diligence process, where stakeholder expectations regarding climate, human rights, and ecosystem dependen- cies were systematically analyzed. Further, stakeholders also expressed growing interest in biodiversity and ecosystem services, prompting Dometic to begin assessing depend- encies and impacts on natural ecosystems as part of its sustainability strategy . Stakeholder engagement is an ongoing process. Employ- ees are engaged through biennial satisfaction surveys, town halls, workshops, and training. Customer input is gathered via key customer dialogue, voluntary disclosures such as CDP , EcoVadis, SAQ and Higg-FEM questionnaires and ad hoc customer questionnaires. CDP also supports engage- ment with investors and financial institutions. Supplier engagement is carried out through Dometic’ s Sustainable Sourcing Program, which includes development activities such as regional supplier forums, supplier reviews, and sus- tainability assessments. These mechanisms help ensure that suppliers’ perspectives are considered and that sustainabil- ity expectations are communicated and monitored. During the DMA, the views and interests of key stakeholder groups were analysed to assess actual and potential impacts, risks, and opportunities, thereby informing the identification and prioritization of sustainability matters. Dometic’ s sustainability initiatives deliver tangible bene- fits for key stakeholders. For customers, energy-efficient and durable products reduce operating costs and environmental impact, while aftermarket services extend product life and improve convenience. For investors, progress toward 2030 targets, such as 45% Scope 1 and 2 GHG reduction and 70% renewable electricity , strengthens resilience, mitigates regulatory risks, and enhances brand value. For employees and suppliers, commitments to health, safety , and ethical business practices foster trust and long-term partnerships. Communities benefit from reduced emissions and waste through circular design and responsible sourcing. These actions are expected to strengthen stakeholder trust and enhance perceptions of Dometic as a responsible and inno- vative company , thereby deepening long-term relationships with customers, investors, employees, and suppliers. Dometic engages in industry associations like the European Outdoor Group to align with sustainability best practices and collaborates with academia through initiatives such as a recent co-lead master’ s thesis on solar power optimization in off-grid motorhomes. Insights from stakeholders have supported the adoption of internal climate targets and continue to guide the develop- ment of Dometic’ s Sustainability Platform and action plans. Group Management and the Board of Directors are regularly updated on key engagement outcomes. These outcomes are shared during key governance touchpoints, such as annual strategy reviews and the materiality assessment validation process, through presentations and discussions led by one or several members of the Group Sustainability Committee. These mechanisms ensure that leadership is aware of stake- holder perspectives on sustainability-related IROs. Dometic’ s stakeholder engagement is continuous and will be reinforced during the next DMA in 2026, where stakeholders will play a central role in validating IROs. Interest and views of own workforce Dometic recognizes its own workforce as a key group of affected stakeholders whose interests, views, and rights directly shape the company’ s strategic direction and busi- ness model. Respect for human and labour rights, including fair working conditions, non-discrimination and harassment, and a safe and healthy workplace, is embedded in gov- ernance processes and informs strategic decision-making across all operations. This commitment is demonstrated in Dometic’ s workforce policies, including the Code of Con- duct, which highlights the company’ s zero-tolerance stance on discrimination, harassment, and retaliation, and sets clear expectations for ethical behaviour, responsible leadership, and respect for the dignity and rights of all employees. Engagement mechanisms such as employee engage- ment surveys, SpeakUp Line, DMA, Health & Safety audits, Human Rights Risk Assessment and consultations with workers’ representatives provide insight into potential risks and impacts, as well as workforce expectations. These inputs guide strategic priorities, influence resource alloca- tion for workforce-related programs and support continuous improvement of policies, procedures, and mitigation plans. Through this approach, Dometic ensures that the rights and perspectives of its own workforce are considered in shaping its strategy , operational planning, and long-term business model resilience. 74DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT General disclosures
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SBM-3 Material IROs and their interaction with strategy and business model Dometic’ s material impacts, risks and opportunities reflect where its business model, operations and value chain give rise to the most significant sustainability related effects. These were identified through the Group’ s DMA and include climate change, energy , pollution, ecosystem services, resource use and circularity , waste, human rights, health and safety and ethical business conduct. They arise across the value chain, from the sourcing of raw materials and upstream manufacturing to Dometic’ s own operations, the product use phase and end of life processes. Negative impacts relate to greenhouse gas emissions, resource consumption, pollution, risks to employees and value chain workers’ health and safety and potential human rights concerns in parts of the supply chain. The developments linked to Dometic’ s material impacts, risks and opportunities influence several dimensions of its strategy and business model, including product devel- opment, sourcing practices, supplier engagement and long-term investment priorities. In this context, Dometic’ s strategic direction, focused on innovation in the develop- ment of durable and energy efficient products, an expanded aftermarket business, solar powered solutions and the grad- ual integration of circular design considerations, provides flexibility to adapt to regulatory , market, technological and supply chain changes across short-, medium- and long-term horizons. Continued work to identify and manage environ- mental and social risks in the supply chain also supports the company’ s ability to respond to developments across its material topics. Together, these support the resilience of Dometic’ s strategy and business model in relation to all identified material impacts, risks and opportunities. Further information on climate-related scenario analysis is provided in ESRS E1. Financially , sustainability related risks may affect asset values and could contribute to increased compliance, material and operational costs. Opportunities linked to solar powered solutions expansion could support revenue diversification. Looking ahead, financial consequences may include capital investments in more efficient manufacturing equipment, circularity and low carbon materials, portfolio adjustments driven by innovation and potential liabilities associated with extended producer responsibility or human rights due diligence. There have been no changes to Dometic’ s material IROs compared with the previous reporting period. Innovation in durable, energy-efficient and circular solutions strengthens the resilience of Company’ s strategy and business model. 75DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT General disclosures
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T able 4. The overview of Dometic’ s material sustainability matters with their related IROs Sustainability matters Value chain Positive Impact Negative Impact Risk Opportunity Time horizons E1: Climate change Upstream Own operations Downstream Not applicable Dometic has a negative climate impact from greenhouse gas emissions across its operations and value chain. Despite significant mitigation in Scope 1 and 2, emissions remain high due to energy-intensive manufacturing. Upstream purchased direct materials and downstream use of sold products dominate Dometic’s climate impact. Dometic faces mitigation (transition and phsyical) risks, including future carbon-related fees on upstream raw materials, higher energy and production costs, and rising compliance requirements. It also faces adaptation risks from extreme weather disrupting operations and supply chains. Together, these risks may increase operational costs and cause value-chain disruptions. Effective climate mitigation can enhance Dometic’s resilience and create financial opportunities through energy efficiency and the development of more sustainable products. This could drive innovation, expand market share, reduce regulatory costs, and strengthen access to capital and competitive positioning. Short/ medium/long E1: Energy Upstream Own operations Downstream Dometic’s solar power solutions in mobile and recreational applications contribute to increased deployment of renewable energy in off-grid settings. Dometic’s operations are energy-intensive, particularly in plastic processing. The company also sources energy-intensive materials, such as steel components upstream. Further, many Dometic products consume energy downstream during use phase. In its own operations, Dometic faces risks from volatile energy prices and grid instability, especially in regions with energy-intensive manufacturing. In upstream, geopolitical energy volatility can also drive up the cost of sourced goods and transportation services, increasing overall sourcing costs and putting further pressure on margins. Rising demand for low-energy and renewable solutions, such as solar power systems for RVs, offers Dometic opportunities to strengthen its brand and expand market presence. At the same time, improving energy efficiency across operations can lower costs and support long-term profitability. Short/ medium/long E2: Pollution Upstream Downstream Not applicable Pollution-related impacts occur mainly upstream and downstream in Dometic’s value chain. In upstream, the production of direct sourced material may involve chemicals, process related air emissions and hazardous waste generated. In downstream, the use and end-of-life of certain products may lead to air emissions and waste generation. In upstream, given the complexity of global supply chains, there is an inherent risk that components or materials may contain substances subject to evolving chemical regulations. Limited multi-tier transparency and potential non-compliance can lead to redesign needs, supply disruptions or penalties. In downstream, improper disposal of products may also pose regulatory and reputational risks. Strengthened substance management and material substitution can support product innovation and regulatory alignment, reduce future compliance and waste management costs, lower the risk of penalties, and enhance brand value through improved environmental performance. Short/ medium/long E4: Ecosystems services Upstream Own operations Downstream Not applicable Dometic’s products are closely linked to outdoor living, making access to ecosystem services a key enabler of the company’s value proposition. While direct ecosystem impacts from Dometic’s own operations are limited, upstream activities, such as the extraction of metals, plastics, and rubber used in components, contribute to ecosystem degradation, including deforestation and habitat loss. These impacts reduce biodiversity and ecosystem integrity, undermining nature’s ability to provide recreational and cultural ecosystem services. Degradation of ecosystems may reduce public access to nature, lowering demand for recreational products and potentially affecting downstream sales. Dometic also faces growing regulatory and compliance risks, including upstream exposure to the EU deforestation-free products regulation (EUDR). Reputational risks related to deforestation and habitat loss in the upstream value chain may result in lost market trust, reduced customer loyalty, and constrained access to capital if responsible sourcing and ecosystem stewardship cannot be demonstrated. There is an opportunity to strengthen Dometic’s brand and market position by promoting low-impact outdoor living and engaging in ecosystem-positive initiatives. Supporting con- servation, designing minimal environmental disturbance, and clearly communicating commitment to nature protection can attract environmentally conscious consumers, support revenue growth, and enhance appeal to values-driven investors. Short/ medium/long E5: Resource use and circularity Upstream Own operations Downstream Not applicable Resource-use impacts occur across Dometic’s value chain. Upstream, the extraction of finite materials and the use of critical materials contribute to resource depletion. In Dometic’s own operations, material efficiency, including scrap rates, yield, and production quality, affects the amount of virgin material required. In downstream, product durability and the ability to extend product lifetimes influence future demand for new raw materials. Resource scarcity may impact supply chain resilience. In upstream, risks of increased material and procurement costs, particularly as demand for finite and critical materials rises in volatile markets. Failing to meet stakeholders’ expectations or comply with tightening circularity regulations in the downstream may lead to reputational harm, lost sales, and increased compliance or transition costs. In downstream, expanding Service & Aftermarket offerings, through refurbishment, remanufacturing, take-back programs, and design-for-disassembly, can improve circularity and reduce reliance on finite materials, lowering material and procurement costs and exposure to resource price volatility. These initiatives can also create new revenue streams, enhance customer loyalty and brand value, and support compliance with evolving circularity regulations. Short/ medium/long E5: Waste Own operations Downstream Not applicable In downstream, Dometic’s products and packaging generate post-consumer waste at the end of life, including plastics, metals, and electronic components. In own operations, manufacturing and assembly activities also generate waste, and if not properly managed, this waste contributes to landfill use, pollution, and the loss of valuable materials. In downstream, inadequate waste management of products may lead to increased regulatory and compliance risks, particularly as extended producer responsibility schemes expand, resulting in higher reporting, collection, and recycling costs, as well as potential fines or penalties. Poor handling of operational waste in Dometic’s own operations could also result in reputational damage and loss of stakeholder trust, with adverse financial impacts. In own operations, reducing waste can lower waste management and material costs, improve resource efficiency, and strengthen brand reputation. In downstream, proactive adaptation to extended producer responsibility schemes can reduce future compliance costs, support regulatory alignment, and create competitive advantage through innovation in product and packaging design. Short/ medium/long 76DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT General disclosures
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Sustainability matters Value chain Positive Impact Negative Impact Risk Opportunity Time horizons S1: Health and safety Own operations Not applicable Health and safety are key considerations for Dometic, with potential impacts on the physical and mental well-being of its workforce across manufacturing, assembly, logistics, and distribution operations. Work-related risks include injuries, ergonomic strain, noise, slips and falls, chemical exposure, and fire hazards, which may lead to absenteeism, legal and regulatory consequences, reduced employee retention, and reputational harm if not adequately managed. Workplace incidents may lead to absenteeism, higher costs, legal liabilities, fines, and reputational harm. Inadequate safety practices can also increase compliance risks, undermine trust, and negatively affect business continuity and employee retention. Strong health and safety performance may enhance Dometic’s reputation as a responsible employer, supporting talent attrac- tion and retention and reducing recruitment and training costs. Lower incident-related and legal costs, improved productivity, higher employee engagement, and a reinforced social respon- sibility profile contribute to the Group’s overall performance. Short/ medium/long S1: Human rights Own operations Not applicable Respect for human rights in the workplace is a key consid- eration for Dometic, particularly for vulnerable groups. The company faces internal challenges such as gender imbalance in management and operations, as well as alleged cases of discrimination and harassment, which can negatively affect employee well-being and engagement. Weak grievance mechanisms or inadequate follow-up on incidents may further undermine trust, increase external scrutiny, and expose the company to legal, reputational, and organizational risks. Human rights violations may result in legal liabilities, regulatory penalties, and financial losses, as well as reputational damage, especially in light of stricter regulations in regions such as the European Union. A lack of effective grievance mechanisms or failure to address reported incidents may lead to non-compliance, higher employee turnover and recruitment costs, and increased external scrutiny. These risks are further heightened in unstable geopolitical contexts where respect for human rights is deteriorating. Not applicable. Short/ medium S2: Health and safety Upstream Downstream Not applicable In upstream, common potential negative impacts include equipment-related injuries, ergonomic strain, noise exposure, chemical handling, and fire hazards, which can lead to serious harm to value chain workers, particularly in high-risk geographies. In downstream, health and safety impacts may arise in distribution, logistics and service activities, where workers can be exposed to manual-handling strain, loading-related injuries, traffic-related hazards. Health and safety incidents in the value chain may lead to operational disruptions and higher remediation and procurement costs, as well as reputational damage due to associations with poor labour practices. Non-compliance with emerging due diligence legislation and stakeholder expectations can expose Dometic to legal liabilities, financial penalties, and increased compliance costs, as well as potential loss of business partnerships. Health and safety standards among suppliers represent a financial opportunity for Dometic through enhanced ethical sourcing, supply chain resilience, and brand credibility. Potential financial benefits include reduced disruption-related and remediation costs, lower legal and compliance expenses, stronger long-term supplier relationships, and improved alignment with evolving regulatory requirements related to responsible business conduct. Short/ medium/long S2: Human rights Upstream Downstream Not applicable Dometic’s value chain includes sourcing from high-risk regions and sectors where poor working conditions may affect vulnerable workers upstream. Human rights risks may also arise downstream in distribution, logistics, or service activities where workers may be exposed to precarious employment conditions and inadequate labor protections. Human rights violations in the value chain may lead to legal liabilities, financial penalties, reputational damage, and higher compliance and procurement costs, particularly under expanding due diligence regulations. Not applicable. Short/ medium G1: Ethical business Own operations Not applicable Strong governance and ethical business conduct are material for Dometic, forming the foundation for responsible decision-making, legal compliance, and stakeholder confidence. Weak governance or unethical behavior, particularly related to anti-corruption, ethical conduct, and value chain integrity, may result in legal violations, financial losses, reputational damage, and erosion of employee and supplier trust, undermining corporate culture and sustainable business operations across global markets. Inadequate governance structures or weak ethical safeguards may lead to legal liabilities, regulatory sanctions, and financial losses, as well as reputational damage. Risks are particularly pronounced in relation to corruption, misconduct, and unethical practices within Dometic’s own operations or among business partners, potentially affecting revenues and business relationships. Gaps in oversight may also weaken corporate cul- ture, reduce employee engagement, and increase people-re- lated costs, further impacting overall financial performance. Well-functioning governance systems and a strong ethical culture enhance stakeholder confidence and protect long-term value. Demonstrated integrity can improve access to capital, lower the risk of costly legal or compliance issues, support stable business relationships, and strengthen operational efficiency, while enabling smoother regulatory compliance and reinforcing Dometic’s positioning as a responsible and transparent company. Short/ medium 77DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT General disclosures
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Impact, risk and opportunity management IRO-1 The processes to identify and assess material IROs In 2024, Dometic conducted its first DMA to define the scope of sustainability reporting and inform strategic decision-making. In line with the double materiality princi- ple, a topic is considered material if it represents significant impacts on people or the environment, or if it reflects sustainability-related risks and opportunities that may affect Dometic’ s business performance – or both. Process steps and responsibilities 1. Sustainability context analysis and IROs The process began with a sustainability context analysis, drawing on the 2022 strategic review, megatrend assess- ment, and previous stakeholder dialogues. Based on this analysis and the list of topical sustainability matters in ESRS, including application requirement 16, the Group Sustaina- bility Controller developed a list of potential impacts, risks and opportunities, and structured it according to the ESRS 1 classification. Input parameters included internal qualitative data from previous strategic reviews, megatrend analysis, and previous stakeholder dialogues, complemented by ESRS guidance and sustainability benchmarks. The scope covered Dometic’ s global operations and key value chain partners, including input from all Segment Presidents across all Regions. No quantitative data such as emissions or financial metrics was used; assumptions relied on qualitative thresh- olds for severity and likelihood, and ESRS 1 time horizons for financial materiality . 2. Stakeholder engagement and methodology Stakeholder engagement was a key element of the DMA. Twenty stakeholder groups across the value chain were mapped and evaluated on a five-point scale based on the degree to which they are affected by Dometic’ s operations. Groups scoring four or five were prioritized for further engagement. Five stakeholder groups were selected for engagement: • Dometic Group Management • Employees • Suppliers • Investors • Customers In total, 67 individual stakeholders from these five stake- holder groups participated through tailored surveys and interviews. Survey questions incorporated thresholds based on ESRS guidance, applying the severity criteria of scale, scope, and irremediability , as recommended by EFRAG to assess impact materiality . • For impact materiality , Dometic applies EFRAG’ s recom- mended approach by assessing actual and potential neg- ative and positive impacts on people and the environment against the severity criteria of scale, scope, irremediability , together with likelihood, in line with ESRS1. • For financial materiality , the criteria of likelihood and magnitude were used to assess potential effects on revenue, costs and assets using ESRS 1-time horizons for financial materiality . For the assessment, a qualitative methodology using ordinal response scales. Survey and interview response alternatives were assigned with a corresponding numerical value, rang- ing from the “lowest” response option ‘No impact’/’No risk/opportunity’ with a value of 0 to the “highest” option ‘Severe impact’/’Very high risk/opportunity’ with a value of 3. These scores were averaged per sustainability matter. These figures were then used to compare topics and to determine whether they met the thresholds for impact and financial materiality . All stakeholder responses were weighed equally to ensure a balanced and representative outcome. The stakeholders have been engaged continuously in 2025 to update the IROs. 3. Application of threshold and consolidation of IROs Risks and opportunities with potential financial effects were assessed using likelihood and magnitude criteria, and prior- itized where they could significantly influence revenue, cost structure, or asset values. Likelihood was assessed qualita- tively based on expert judgment and scenario analysis, while magnitude reflected potential financial effects on revenue, cost structure, or asset values. These criteria ensured that risks and opportunities with significant financial implications were prioritized for reporting. Monitoring is currently limited to periodic updates, with plans to strengthen integration into enterprise risk management over time. Negative impacts were prioritized based on their relative severity and likelihood, following ESRS 1 section 3.4. Sever- ity was assessed using scale, scope, and irremediability , while likelihood reflected the probability of occurrence. A topic was deemed material if it combined high severity with Imp a c t ma t er i a lit y Financial materiality H igherLow er Low er H igher Climate change Resource and circularity Energy Pollution Waste Health and safety Human rights Ethical business conduct Consumer and customer Biodiversity loss Other working conditions Water Affected communities Ecosystem services Material topics Illustration 2. The outcome of Dometic’ s DMA 78DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT General disclosures
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medium or high likelihood, or if it represented significant financial magnitude. Positive impacts were considered where relevant, using scale, scope, and likelihood as guiding criteria. These thresholds ensured that sustainability matters most critical to people, the environment, and Dometic’ s business performance were identified for report- ing purposes. The process also considered heightened risk factors linked to specific activities and geographies. Manufacturing operations in regions with limited regulatory enforcement and suppliers in high-risk countries were prioritized for human rights. No external experts were consulted during this assessment; the process relied on internal expertise and ESRS guidance to ensure methodological robustness. The results were consolidated into key impacts, risks, and opportunities by the Group Sustainability Controller, before being submitted for validation. 4. Validation, decision and material IROs The consolidated results of key IROs were validated by Dometic’ s Group Sustainability Committee, Group Manage- ment, and the Board of Directors. As part of this validation, findings from the 2024 Human Rights Risk Assessment were integrated to calibrate the impact materiality of the Human Rights and Health and Safety topics. Decision-making for materiality results is based on internal review and validation by the Group Sustainability Committee, with input from relevant functions and segments. While formalized internal control procedures such as documented signoffs are not yet in place, the process follows established governance practices and is evolving to strengthen consistency and accountability over time. The assessment identified 11 material sustainability matters: The sustainability matters cover both Dometic’ s own operations and its broader value chain. Among these, Climate Change, Energy , and Resource Use were identified as strategic priorities due to their combined environmental and financial relevance. Stakeholders also emphasized the importance of Human Rights, Health and Safety , and Ethical Business Conduct, while Diversity and Inclusion was highlighted as a key factor for Dometic’ s long-term success. All topical standards were assessed as part of the DMA, including E3 (Water and Marine Resources) and biodiversity related disclosures under E4. Both E3 and biodiversity were evaluated using the same methodology and thresholds described above. The assessment did not identify any impacts, risks, or opportunities for these topics that met Dometic’ s materiality thresholds. The assessment considered how Dometic’ s impacts and dependencies create risks and opportunities. For example, dependency on natural resources and stable supply chains was linked to risks such as resource scarcity and regulatory changes, while impacts related to energy use and emissions were connected to opportunities for efficiency improve- ments and innovation. These connections informed the prioritization of material topics and strategic actions. Opportunities identified through the assessment inform strategic planning and sustainability initiatives. While a formal process for integrating these opportunities into enterprise-wide management systems is still evolving, they are considered in business reviews and long-term planning discussions. Dometic expects the processes for identifying and assess- ing material impacts, risks, and opportunities to continue evolving as additional quantitative and qualitative data become available. This process is embedded in Dometic’ s sustainability due diligence framework and is evolving to strengthen integration with enterprise risk management. While full alignment is in progress, the approach ensures that identified impacts and risks are monitored regularly and informs mitigation actions across the organization. The material topics are monitored on a regular basis. Since this was Dometic’ s first DMA, conducted in 2024, no changes compared to a prior process apply . The process was last modified in 2024 during its initial development. The next revision is planned for 2026 to align with evolving ESRS guidance and business priorities. Currently , sustainability-related risks are assessed sepa- rately from other risk categories but follow similar principles of likelihood and impact. While full integration into the corporate risk register is in progress, sustainability risks are prioritized based on their potential to cause significant operational disruption, regulatory exposure, or reputational damage. No dedicated risk-assessment software is used; prioritization relies on internal scoring aligned with ESRS guidance. At present, sustainability-related risks are not fully and systematically included in the overall enterprise risk profile but inform strategic discussions at management level. Further integration into enterprise risk management is planned to enable consistent evaluation alongside opera- tional, financial, and compliance risks. At present, Dometic has not identified any material sustainability-related risks that are currently expected to affect the Group’ s financial position, cash flow, or assets and liability values within the next annual reporting period. The material risks and opportunities identified through Dometic’ s DMA are potential in nature and are generally expected to manifest over the medium to long term. The result of the DMA is the primary driver to determine the material standards, disclosure requirements, and data points. This process is complemented by a qualitative review of the data points in the Dometic context. For example, E1-8 is deemed not material because Dometic does not use internal carbon pricing, even though the E1 standard is material for Dometic. E1. ESRS 2 IRO-1 Process to identify and assess material climate-related IROs In 2022, Dometic conducted a high-level climate-related scenario analysis over a ten-year horizon, using two exter- nally referenced climate pathways (RCP 2.6 and RCP 8.5) as high-level reference scenarios: • Rapid Transition Scenario (RCP 2.6): 1.5–2°C temperature increase by 2100 • Business-as-Usual Scenario (RCP 8.5): 3–4°C temperature increase by 2100 The RCP 2.6 (1.5–2°C) and RCP 8.5 (3–4°C) scenarios used in Dometic’ s climate scenario analysis are broadly compara- ble in temperature outcomes to publicly available IEA and NGFS scenarios. Specifically , RCP 2.6 represents a rapid transition pathway consistent with limiting global warming to 1.5–2°C, similar to IEA and NGFS net-zero scenarios, while RCP 8.5 reflects a high-emission, business-as-usual future comparable to the NGFS Current Policies scenario. These scenarios were applied to explore potential strate- gic, operational, and financial implications of climate-related risks and opportunities, by identifying and assessing both transition events (such as regulatory changes, carbon pricing, and market shifts) and plausible physical events (such as flooding, storms, and heatwaves) across short- and medium-term horizons. The climate scenario analysis supported management’ s understanding of potential climate-related risks and oppor- tunities and provided qualitative input to the DMA process. T able 5 outlines the results of the qualitative climate scenario analysis, summarizing the main risks, opportunities, and potential financial impacts identified. This ten-year period aligns with the ESRS-defined short- and medium-term horizons. Long-term (>10 years) horizons will be incorpo- rated in future scenario analyses. Dometic recognizes that the current analysis is primarily qualitative and limited in scope. Dometic will further enhance its scenario analysis in the coming years, including more detailed alignment with IEA and NGFS frameworks and a deeper assessment of plausible transition and physical events across relevant time horizons. 79DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT General disclosures
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T able 5. Scenario analysis – climate-related risks and opportunities Rapid Transition Scenario 1.5–2 °C temperature increase by 2100 Description: Global warming is limited to no more than 2 °C through collaboration among governments, indus- tries and companies. Individuals push for tougher legisla- tion and green innovation, while increasing demand for more sustainable products and services. Carbon emis- sions are strictly limited, and the carbon tax is extended, which promotes processes with low carbon emissions and greater use of circular materials and products. Risks • Increased investment costs in innovation and production due to tougher legislation for manufacturing processes and materials, energy sources and the environmental performance of products (transition risk). • Higher costs for goods sold due to price increases for raw materials, energy and distribution, as well as higher carbon taxes and carbon-related fees (transition risk). • Increased costs for facilities due to changing weather conditions (physical risk). • Changed consumption patterns (transition risk). Opportunities • Competitive advantage through Dometic’ s long-term efforts to achieve more efficient resource use and a lower carbon footprint. • Increased demand for sustainable solutions with a smaller climate footprint, rewarding companies with a strong sustainability profile. • Travel trends increase demand for outdoor leisure products. • Investments in and development of new business mod- els and sustainable solutions attract more customers/ consumers. Potential impact on Dometic’ s financial result • Increased value of sustainable business and solutions. • Increased investment in the conversion to a low- carbon economy . • Increased operating costs for climate adaptation. Business As Usual Scenario 3–4 °C temperature increase by 2100 Description: Global warming of 3–4 °C, due to the failure to effectively reduce emissions and other negative envi- ronmental impacts. Extreme weather is common, causing a more event-driven business. Sea levels continue to rise, desertification and deforestation continue. More frequent forest fires. Access to key resources such as raw materials, energy , water and food declines, resulting in greater volatility and uncertainty for prices and food security . Risks • Production and distribution disruption due to extreme weather conditions (physical risk). • Rising insurance costs (physical risk). • Increased investment required to safeguard stable production and supply chain (physical risk). • Significantly higher cost for goods sold as resource scarcity leads to higher prices for raw materials, energy , water and distribution (physical risk). • Lower living standards and changed consumption behavior (physical risk). • Deteriorating natural environments: forests, coastlines, mountains, etc (physical risk). Opportunities • Competitive advantage through Dometic’ s long-term efforts to achieve lower resource use and carbon footprint. • Increased demand for sustainable solutions with a smaller climate footprint, rewarding companies with a strong sustainability profile. • Travel trends increase demand for outdoor leisure products. • Investments in and development of new business models and sustainable solutions attract more customers/consumers. Potential impact on Dometic’ s financial result • Increased value of sustainable business and solutions. • Increased investments in managing climate change and costs for adaptation. • Volatile and increased cost for energy , material, facilities and distribution. • Increased insurance costs. Scenario analysis Dometic has approached climate-related risks and opportunities, and the potential impact on Dometic’ s financial results, by means of scenario analysis as recommended by the TCFD framework. Below is a description of the scenarios explored and the identified risks, opportunities and potential impact on Dometic’ s financial results over the next ten years1). 1) The risks, opportunities and impact in this forward-looking statement reflect the Company’ s current expectations and are subject to uncertainties that could cause actual financial results to differ materially due to a variety of factors. 80DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT General disclosures
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Climate-related risks are currently integrated into Dometic’ s enterprise risk management framework through a high-level assessment by senior leadership. Impact and probability scores for weather and climate-related risks are assigned over a 5–10-year horizon based on management judgment rather than quantitative modeling. At present, these risks – both physical and transition – are assessed to have a high financial impact (estimated at SEK 100–250 million) and a high probability of occurrence (approximately 50–90% over five years). Dometic’ s manufacturing sites and distribution facilities, as well as supplier manufacturing sites and distribution facilities, may be exposed to physical climate hazards such as flooding, storms, and heatwaves, which could disrupt operations or increase costs for cooling, heating, and insurance. Upstream suppliers of plastics and metals may face water stress and resource scarcity under high-emission scenarios, while downstream product use could be affected by extreme weather reducing outdoor leisure activities. These exposures represent potential physical risks. Physical risks within Dometic’ s operations are managed through the Loss Prevention Standard (LPS) framework, with assessments performed by a third party . These evaluations cover internal and external hazards such as fire, earthquakes, and flooding, which could significantly disrupt daily operations. Transition risks considered include regulatory changes, carbon pricing, material and energy costs, insurance, and electrification trends in recreational vehicles. At this stage, the assessment is qualitative and does not yet include detailed exposure analysis at asset or activity level, nor sensi- tivity analysis of these transition events in terms of likelihood, magnitude, and duration. Dometic acknowledges this gap and will address it in future scenario-based assessments. In 2026, Dometic will strengthen its approach to iden- tifying and assessing climate-related risks through a more robust screening of manufacturing sites, warehouses, and key suppliers for exposure to climate hazards. This enhanced process will enable more detailed analysis and targeted mitigation and adaptation planning. Dometic will continue integrating enterprise risk management, business continuity planning, and loss prevention to further improve consistency and effectiveness in managing climate-related risks across the organization. Currently , geospatial coordinates are not included in our assessment. Dometic commits to integrate geospatial data into its climate risk screening process in the coming years to enhance precision in evaluating exposure and sensitivity across locations and supply chains. Dometic has initiated a qualitative climate scenario analysis to support future assessment of the resilience of its strategy and business model. At this stage, the analysis is primarily qualitative and is applied at a strategic level to support Dometic’ s understanding of the climate-related risk landscape. It does not yet include detailed evaluation of factors such as access to finance, asset redeployment, specific product portfolio shifts, workforce reskilling, or a granular assessment of specific physical climate hazards across the full value chain. As a result, the scenario analysis has not yet led to specific, scenario-driven strategic actions or business model adjustments, nor does it currently provide sufficient granu- larity to assess asset-level impacts, such as changes in asset useful lives or potential early obsolescence. Accordingly , Dometic is not yet able to reliably assess the compatibility of the climate scenarios used for ESRS E1 pur- poses with the critical climate-related assumptions applied in the financial statements. Dometic acknowledges these limitations and recognizes the importance of further integrat- ing scenario analysis outcomes into strategic planning and decision-making processes. Over the next two years, Dometic will work towards enhancing its scenario analysis capabilities, including more detailed, scenario-based assessments of transition and physical risks, clearer linkage to asset lifetimes, strategic planning horizons and capital allocation considerations, and increased transparency regarding the scenarios applied, including references to IEA scenarios and their role in the identification and assessment of transition events across all relevant time horizons. Dometic identifies various transition events over short-, medium-, and long-term horizons, considering events that may extend beyond 10 years in alignment with climate-re- lated public policy goals. Transition risks include stricter climate legislation, carbon taxation, increased operational costs related to energy , materials, and distribution, and evolving consumer behaviors favoring sustainable products. Dometic’ s scenario analysis incorporates these transition events to assess potential impacts on assets and business activities, including regulatory changes and market shifts associated with a transition to low-carbon economies. At this stage, exposure and sensitivity are assessed qualitatively based on management judgment rather than detailed asset-level or quantitative modelling. This includes impacts such as increased investment costs in innovation, higher operating costs due to carbon pricing, and changing demand patterns influenced by legislation and consumer trends. Assessments are conducted qualitatively through top-down and bottom-up processes across Group, Seg- ment, and functional levels to determine where significant exposure lies and to prioritize risk mitigation actions. Dometic conducted a high-level climate-related scenario analysis in 2022 using one Paris-aligned transition scenario (RCP 2.6 equivalent) and one high-emission scenario (RCP 8.5 equivalent). The analysis includes a Rapid Transition Scenario (equivalent to RCP 2.6) reflecting a pathway with strong climate policies, innovation, and emissions reduction, as well as a Business As Usual Scenario (RCP 8.5) representing high-emission outcomes. This scenario framework guides Dometic’ s understanding of transition risks and opportunities, including regulatory impacts and market evolution. 81DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT General disclosures
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E2: ESRS 2 IRO 1 Process to identify and assess pollution-related IROs Dometic has not yet conducted a systematic screening of its site locations and business activities to identify actual and potential pollution-related impacts, risks, and opportunities across its own operations and value chain. At ISO 14001-cer- tified sites, environmental aspects and impacts are identified and evaluated as part of the Environmental Management System, which includes pollution-related risks such as air emissions, water discharges, and hazardous waste. Dometic does not have consolidated data at Group level to confirm whether consultations with affected communities regarding pollution-related impacts, risks, and opportunities have been conducted. Such consultations may occur at site or regional level as part of local permitting processes or stakeholder engagement, but this information is not system- atically collected or reported at Group level. E5: ESRS 2 IRO 1 Process to identify and assess resource use-related IROs Dometic has not yet conducted a systematic screening of its assets and activities to identify the acutal and potential impact, risks, and opportunities in its own operations and value chain related to resource inflow and outflows. G1: ESRS 2 IRO 1 Process to identify and assess business conduct-related IROs Dometic identified material business conduct-related IROs by mapping its value chain and evaluating both own opera- tions and supplier relationships. Criteria considered include location (global operations), activity (governance, finance, sourcing, sales, supplier engagement), sector (consumer goods, manufacturing of vehicle parts and accessories), and transaction structure (direct and indirect supplier relation- ships). Risks such as legal liabilities and reputational damage are assessed alongside opportunities for stakeholder confidence and regulatory compliance. IRO-2 Disclosure requirements in ESRS covered by the undertaking’ s sustainability statement ESRS 2 ESRS 2 General disclosures Other information Page BP-1 General basis for preparation of sustainability statements 65 BP-2 Disclosures in relation to specific circumstances 65 GOV-1 The role of the administrative, management and supervisory bodies 67 GOV-2 Information provided to and sustainability matters addressed by Dometic’s administrative, management and supervisory bodies 68 GOV-3 Integration of sustainability-related performance in incentive schemes 70 GOV-4 Statement on due diligence 70 GOV-5 Risk management and internal controls over sustainability reporting 71 SBM-1 Strategy, business model and value chain 72 SBM-2 Interests and views of stakeholders 74 SBM-3 Material impacts, risks and opportunities and their interaction with strategy and business model 75 IRO-1 Description of the processes to identify and assess material impacts, risks and opportunities 78 IRO-2 Disclosure requirements in ESRS covered by Dometic’s sustainabil- ity statement 82 ESRS E1 ESRS E1 Climate change Other information Page ESRS 2 GOV-3 Integration of sustainability-related performance in incentive schemes 70 E1-1 Transition plan for climate change mitigation 90 ESRS 2 SBM-3 Material impacts, risks and opportunities and their interaction with strategy and business model 91 ESRS 2 IRO-1 Description of the processes to identify and assess material climate-related impacts, risks and opportunities 78 E1-2 Policies related to climate change mitigation and adaptation 92 E1-3 Actions and resources in relation to climate change policies 92 E1-4 Targets related to climate change mitigation and adaptation 94 E1-5 Energy consumption and mix 96 E1-6 Gross Scopes 1, 2, 3 and Total GHG emissions 96 82DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT General disclosures
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ESRS E2 ESRS E2 Pollution Other information Page ESRS 2 IRO-1 Description of the processes to identify and assess material pollution-related impacts, risks and opportunities 78 E2-1 Policies related to pollution 99 E2-2 Actions and resources related to pollution 100 E2-3 Targets related to pollution 101 E2-4 Pollution of air, water and soi 101 E2-5 Substances of concern and substances of very high concern 101 ESRS E5 ESRS E5 Resource use and circular economy Other information Page ESRS2 IRO-1 Description of the processes to identify and assess material resource use and circular economy-related impacts, risks and opportunities 78 E5-1 Policies related to resource use and circular economy 102 E5-2 Actions and resources related to resource use and circular economy 103 E5-3 Targets related to resource use and circular economy 104 E5-4 Resource inflows 104 E5-5 Resource outflows 105 ESRS S1 ESRS S1 Own workforce Other information Page ESRS 2 SBM-2 Interests and views of stakeholders 74 ESRS 2 SBM-3 Material impacts, risks and opportunities and their interaction with strategy and business model 75 S1-1 Policies related to own workforce 113 S1-2 Processes for engaging with own workers and workers’ representatives about impacts 115 S1-3 Processes to remediate negative impacts and channels for own workers to raise concerns 116 S1-4 Taking action on material impacts on own workforce, and approaches to mitigating material risks and pursuing material oppor- tunities related to own workforce, and effectiveness of those actions 116 S1-5 Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities 118 ESRS S1 ESRS S1 Own workforce Other information Page S1-6 Characteristics of Dometic’s employees 119 S1-9 Diversity metrics 120 S1-14 Health and safety metrics 120 S1-16 Compensation metrics (pay gap and total compensation) 121 S1-17 Incidents, complaints and severe human rights impacts 121 ESRS G1 ESRS G1 Business conduct Other information Page ESRS2 GOV-1 The role of the administrative, supervisory and management bodies 67 ESRS2 IRO-1 Description of the processes to identify and assess material impacts, risks and opportunities 78 G1-1 Corporate culture and business conduct policies and corporate culture 123 G1-3 Prevention and detection of corruption and bribery 124 G1-4 Confirmed incidents of corruption or bribery 126 83DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT General disclosures
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IRO-2 Datapoints that derive from other EU legislation Disclosure Requirement and related datapoint SFDR (1) reference Pillar 3 (2) reference Benchmark Regulation (3) reference EU Climate Law (4) reference Page ESRS 2 GOV-1 Board's gender diversity § 21 (d) Indicator number 13 Table #1 of Annex 1 Commission Delegated Regulation (EU) 2020/1816 (5), Annex II 67 Percentage of board members who are independent § 21 (e) Delegated Regulation (EU) 2020/1816, Annex II 67 ESRS 2 GOV-4 Statement on due diligence § 30 Indicator number 10 Table #3 of Annex 1 70 ESRS 2 SBM-1 Involvement in activities related to fossil fuel activities § 40 (d) i Indicators number 4 Table #1 of Annex 1 Article 449a Regulation (EU) No 575/2013; Commission Implementing Regulation (EU) 2022/2453 (6) Table 1: Qualitative information on Environmental risk and Table 2: Qualitative information on Social risk Delegated Regulation (EU) 2020/1816, Annex II 72 Involvement in activities related to chemical production § 40 (d) ii Indicator number 9 Table #2 of Annex 1 Delegated Regulation (EU) 2020/1816, Annex II 72 Involvement in activities related to controversial weapons § 40 (d) iii Indicator number 14 Table #1 of Annex 1 Delegated Regulation (EU) 2020/1818 (7), Article 12(1) Delegated Regulation (EU) 2020/1816, Annex II 72 Involvement in activities related to cultivation and production of tobacco § 40 (d) iv Delegated Regulation (EU) 2020/1818, Article 12(1) Delegated Regulation (EU) 2020/1816, Annex II 72 ESRS E1-1 Transition plan to reach climate neutrality by 2050 § 14 Regulation (EU) 2021/1119, Article 2(1) 90 Undertakings excluded from Paris-aligned Benchmarks § 16 (g) Article 449a Regulation (EU) No 575/2013; Commission Implementing Regulation (EU) 2022/2453 Template 1: Banking book-Climate Change transition risk: Credit quality of exposures by sector, emissions and residual maturity Delegated Regulation (EU) 2020/1818, Article12.1 (d) to (g), and Article 12.2 91 ESRS E1-4 GHG emission reduction targets § 34 Indicator number 4 Table #2 of Annex 1 Article 449a Regulation (EU) No 575/2013; Commission Implementing Regulation (EU) 2022/2453 Template 3: Banking book – Climate change transition risk: alignment metrics Delegated Regulation (EU) 2020/1818, Article 6 94 ESRS E1-5 Energy consumption from fossil sources disaggregated by sources (only high climate impact sectors) § 38 Indicator number 5 Table #1 and Indicator n. 5 Table #2 of Annex 1 96 Energy consumption and mix § 37 Indicator number 5 Table #1 of Annex 1 96 Energy intensity associated with activities in high climate impact sectors §s 40 to 43 Indicator number 6 Table #1 of Annex 1 96 84DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT General disclosures
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Disclosure Requirement and related datapoint SFDR (1) reference Pillar 3 (2) reference Benchmark Regulation (3) reference EU Climate Law (4) reference Page ESRS E1-6 Gross Scope 1, 2, 3 and Total GHG emissions § 44 Indicators number 1 and 2 Table #1 of Annex 1 Article 449a; Regulation (EU) No 575/2013; Commission Implementing Regulation (EU) 2022/2453 Template 1: Banking book – Climate change transition risk: Credit quality of exposures by sector, emissions and residual maturity Delegated Regulation (EU) 2020/1818, Article 5(1), 6 and 8(1) 96 Gross GHG emissions intensity §s 53 to 55 Indicators number 3 Table #1 of Annex 1 Article 449a Regulation (EU) No 575/2013; Commission Implementing Regulation (EU) 2022/2453 Template 3: Banking book – Climate change transition risk: alignment metrics Delegated Regulation (EU) 2020/1818, Article 8(1) 96 ESRS E1-7 GHG removals and carbon credits § 56 Regulation(EU) 2021/1119, Article 2(1) Not applicable ESRS E1-9 Exposure of the benchmark portfolio to climate-related physical risks § 66 Delegated Regulation (EU) 2020/1818, Annex II Delegated Regulation (EU) 2020/1816, Annex II [BP 2, page 65] Disaggregation of monetary amounts by acute and chronic physical risk § 66 (a) ESRS E1-9 Location of significant assets at material physical risk § 66 (c). Article 449a Regulation (EU) No 575/2013; Commission Implementing Regulation (EU) 2022/2453paragraphs 46 and 47; Template 5: Banking book – Climate change physical risk: Exposures subject to physical risk. [BP 2, page 65] Breakdown of the carrying value of its real estate assets by energy-efficiency classes § 67 (c). Article 449a Regulation (EU) No 575/2013; Commission Implementing Regulation(EU) 2022/2453paragraph 34; Template 2: Banking book -Climate change transition risk: Loans collateralised by immovable property - Energy efficiency of the collateral [BP 2, page 65] Degree of exposure of the portfolio to climate- related opportunities § 69 Delegated Regulation (EU) 2020/1818, Annex II [BP 2, page 65] ESRS E2-4 Amount of each pollutant listed in Annex II of the E-PRTR Regulation (European Pollutant Release and Transfer Register) emitted to air, water and soil, § 28 Indicator number 8 Table #1 of Annex 1 Indicator number 2 Table #2 of Annex 1 Indicator number 1 Table #2 of Annex 1 Indicator number 3 Table #2 of Annex 1 Not applicable ESRS E3-1 Water and marine resources § 9 Indicator number 7 Table #2 of Annex 1 Not material ESRS E3-1 Dedicated policy § 13 Indicator number 8 Table 2 of Annex 1 Not material ESRS E3-1 Sustainable oceans and seas § 14 Indicator number 12 Table #2 of Annex 1 Not material 85DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT General disclosures
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Disclosure Requirement and related datapoint SFDR (1) reference Pillar 3 (2) reference Benchmark Regulation (3) reference EU Climate Law (4) reference Page ESRS E3-4 Total water recycled and reused § 28 (c) Indicator number 6.2 Table #2 of Annex 1 Not material Total water consumption in m3 per net revenue on own operations § 29 Indicator number 6.1 Table #2 of Annex 1 Not material ESRS 2- IRO 1 E4 § 16 (a) i Indicator number 7 Table #1 of Annex 1 Not applicable E4 § 16 (b) Indicator number 10 Table #2 of Annex 1 Not applicable E4 § 16 (c) Indicator number 14 Table #2 of Annex 1 Not applicable ESRS E4-2 Sustainable land / agriculture practices or policies § 24 (b) Indicator number 11 Table #2 of Annex 1 Not applicable Sustainable oceans / seas practices or policies § 24 (c) Indicator number 12 Table #2 of Annex 1 Not applicable Policies to address deforestation § 24 (d) Indicator number 15 Table #2 of Annex 1 Not applicable ESRS E5-5 Non-recycled waste § 37 (d) Indicator number 13 Table #2 of Annex 1 105 Hazardous waste and radioactive waste § 39 Indicator number 9 Table #1 of Annex 1 105 ESRS 2- SBM3 - S1 Risk of incidents of forced labour § 14 (f) Indicator number 13 Table #3 of Annex I 113 Risk of incidents of child labour § 14 (g) Indicator number 12 Table #3 of Annex I 113 ESRS S1-1 Human rights policy commitments § 20 Indicator number 9 Table #3 and Indicator number 11 Table #1 of Annex I 113 Due diligence policies on issues addressed by the fundamental International Labor Organisation Conventions 1 to 8, § 21 Delegated Regulation (EU) 2020/1816, Annex II 113 Processes and measures for preventing trafficking in human beings § 22 Indicator number 11 Table #3 of Annex I 113 Workplace accident prevention policy or management system § 23 Indicator number 1 Table #3 of Annex I 113 86DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT General disclosures
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Disclosure Requirement and related datapoint SFDR (1) reference Pillar 3 (2) reference Benchmark Regulation (3) reference EU Climate Law (4) reference Page ESRS S1-3 Grievance/complaints handling mechanisms § 32 (c) Indicator number 5 Table #3 of Annex I 116 ESRS S1-14 Number of fatalities and number and rate of work- related accidents § 88 (b) and (c) Indicator number 2 Table #3 of Annex I Delegated Regulation (EU) 2020/1816, Annex II 120 Number of days lost to injuries, accidents, fatalities or illness § 88 (e) Indicator number 3 Table #3 of Annex I 120 ESRS S1-16 Unadjusted gender pay gap § 97 (a) Indicator number 12 Table #1 of Annex I Delegated Regulation (EU) 2020/1816, Annex II 121 Excessive CEO pay ratio § 97 (b) Indicator number 8 Table #3 of Annex I 121 ESRS S1-17 Incidents of discrimination § 103 (a) Indicator number 7 Table #3 of Annex I 121 Non-respect of UNGPs on Business and Human Rights and OECD § 104 (a) Indicator number 10 Table #1 and Indicator n. 14 Table #3 of Annex I Delegated Regulation (EU) 2020/1816, Annex II Delegated Regulation (EU) 2020/1818 Art 12 (1) 121 ESRS 2- SBM3 – S2 Significant risk of child labour or forced labour in the value chain § 11 (b) Indicators number 12 and n. 13 Table #3 of Annex I 75 ESRS S2-1 Human rights policy commitments § 17 Indicator number 9 Table #3 and Indicator n. 11 Table #1 of Annex 1 [BP 2, page 65] Policies related to value chain workers § 18 Indicator number 11 and n. 4 Table #3 of Annex 1 [BP 2, page 65] Non-respect of UNGPs on Business and Human Rights principles and OECD guidelines § 19 Indicator number 10 Table #1 of Annex 1 Delegated Regulation (EU) 2020/1816, Annex II Delegated Regulation (EU) 2020/1818, Art 12 (1) [BP 2, page 65] Due diligence policies on issues addressed by the fundamental International Labor Organisation Conventions 1 to 8, § 19 Delegated Regulation (EU) 2020/1816, Annex II [BP 2, page 65] ESRS S2-4 Human rights issues and incidents connected to its upstream and downstream value chain § 36 Indicator number 14 Table #3 of Annex 1 [BP 2, page 65] 87DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT General disclosures
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Disclosure Requirement and related datapoint SFDR (1) reference Pillar 3 (2) reference Benchmark Regulation (3) reference EU Climate Law (4) reference Page ESRS S3-1 Human rights policy commitments § 16 Indicator number 9 Table #3 of Annex 1 and Indicator number 11 Table #1 of Annex 1 Not material Non-respect of UNGPs on Business and Human Rights, ILO principles or and OECD guidelines § 17 Indicator number 10 Table #1 Annex 1 Delegated Regulation (EU) 2020/1816, Annex II Delegated Regulation (EU) 2020/1818, Art 12 (1) Not material ESRS S3-4 Human rights issues and incidents § 36 Indicator number 14 Table #3 of Annex 1 Not material ESRS S4-1 Policies related to consumers and end-users § 16 Indicator number 9 Table #3 and Indicator number 11 Table #1 of Annex 1 Not material Non-respect of UNGPs on Business and Human Rights and OECD guidelines § 17 Indicator number 10 Table #1 of Annex 1 Delegated Regulation (EU) 2020/1816, Annex II Delegated Regulation (EU) 2020/1818, Art 12 (1) Not material ESRS S4-4 Human rights issues and incidents § 35 Indicator number 14 Table #3 of Annex 1 Not material ESRS G1-1 United Nations Convention against Corruption § 10 (b) Indicator number 15 Table #3 of Annex 1 123 Protection of whistle- blowers § 10 (d) Indicator number 6 Table #3 of Annex 1 123 ESRS G1-4 Fines for violation of anti- corruption and anti-bribery laws § 24 (a) Indicator number 17 Table #3 of Annex 1 Delegated Regulation (EU) 2020/1816, Annex II) 126 Standards of anti- corruption and anti- bribery § 24 (b) Indicator number 16 Table #3 of Annex 1 126 For more information on Dometic’ s Double Materiality Assessment, including the list of material topics and an overview of the assessment results, see IRO-1 on page 78–82. 88DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT General disclosures
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ENVIRONMENTAL DISCLOSURES The environmental section presents information on Dometic’ s material climate change (E1), pollution (E2) and resource use and circular economy (E5) topics, including related policies, actions, metrics and targets. It aims to show how Dometic manages its most significant environmental impacts and dependencies, as well as the associated risks and opportunities. ESRS E1 Climate Change 90 ESRS E2 Pollution 99 ESRS E5 Resource use and circular economy 102 TAX T axonomy 107 89DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATEMENTS
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ESRS E1 Climate change E1-1 Transition plan for climate change mitigation 90 SBM-3 Material impacts, risks and opportunities 91 E1-2 Policies related to climate change mitigation and adaptation 92 E1-3 Actions and resources in relation to climate change policies 92 E1-4 T argets related to climate change mitigation and adaptation 94 E1-5 Energy consumption and mix 96 E1-6 Gross Scopes 1, 2, 3 and Total GHG emissions 96 Strategy E1-1 Transition plan for climate change mitigation Dometic has developed a Climate Transition Plan, aiming to limit global warming to 1.5°C and achieve climate neutrality by 2050. Dometic’ s climate work is guided by its Climate Transition Plan, operating as the principal tool for translating climate ambitions into concrete actions, providing clear timelines, prioritized measures and planned investments. It forms the foundation of Dometic’ s overall emissions reduction strat- egy , including coverage of Scope 1, 2, and material Scope 3 emissions. The plan addresses the company’ s exposure to cli- mate-related risks and opportunities and outlines reduction targets and reduction levers for Scope 1, 2, and material Scope 3 categories. Scope 3 emissions represent 96% of the Dometic Group’ s total emissions while Scope 1 and 2 emissions represent 4% of total emissions. The plan covers nearly 100% of Scope 1 and 2 emissions. The plan includes reduction of a subset of high-impact S3 emission sources from purchased goods and services (Scope 3.1), transport and distribution (Scope 3.4 and 3.9) and use of sold products (Scope 3.11). By targeting a subset of high-impact sources from these Scope 3 categories, the Climate Tran- sition Plan meets best-practice industry criteria for Scope 3 coverage for both near-term targets (≥ 67% of Scope 3) and long-term net-zero targets (≥ 90% of Scope 3). Y early reduction targets for Scope 1 and 2 emissions are disclosed. Y early internal reduction targets for material Scope 3 emissions are outlined in the plan. Implementation of the plan commenced in 2025. Key actions on decarboni- zation levers within Dometic’ s own operations are underway . For details of key actions and upcoming milestones, refer to E1-3 on page 92. The Climate Transition Plan was developed through a structured process, beginning with the selection of 2023 as a representative base year. Scope 3 accounting was completed for material emission sources, and the Scope 1 and 2 greenhouse gas (GHG) inventory was updated to reflect the impact of acquisitions made in 2021 and 2022, resulting in a restatement of 2023 emissions disclosed. This comprehensive inventory , combined with insights from stakeholder feedback, climate risk analysis, and enterprise Sustainability matters Value chain Impact Risk/ Opportunity Time horizon E1: Climate change Upstream Own operations Downstream Negative impact Risk and opportunity Short/medium/long E1: Energy Upstream Own operations Downstream Positive and negative impact Risk and opportunity Short/medium/long 90DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Environmental disclosures
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risk management (ERM), informed the development of the transition plan. To identify emission reduction levers, Dometic con- ducted a literature review combined with input from internal stakeholders across functions. The process highlighted opportunities involving changes to the product and service portfolio, as well as the adoption of lower-carbon materials and technologies that are already available, with cost com- petitiveness and supply conditions varying by technology and market. Key areas include operational improvements through energy efficiency upgrades and replacing ener- gy-intensive machinery with advanced alternatives; renew- able energy sourcing via energy attribute certificates (EACs) and power purchase agreements (PPAs); product redesign to enhance energy efficiency during use; circular solutions such as take-back schemes and refurbished offerings; and sourcing low-carbon materials like steel, aluminum, and plas- tics to reduce impacts from purchased goods and services. Additional measures include route optimization for land transport and the use of biofuels and emerging technologies such as electric trucks to reduce transportation-related emis- sions. In total, 48 emission reduction levers were identified in the Climate Transition Plan. Dometic’ s greenhouse gas (GHG) inventory has not undergone external verification. Similarly , the Climate Transition Plan and associated targets, although developed in accordance with industry criteria to set science-based targets, have not been submitted for third-party validation. The most significant risks to implementation of the transition plan include external dependencies such as the pace of decarbonization in the global electricity mix, the RV industry’ s transition to electrification, and the cost and availa- bility of low-carbon materials (e.g. steel, aluminum, plastics, biofuels). Dometic is actively developing mitigation strate- gies and partnerships to address these risks. Opportunities identified include product innovation in energy efficiency , renewable energy sourcing, and circular economy models that align with emerging markets and regulatory trends. Locked in emissions from energy intensive machinery pres- ent a challenge for Scope 1 and Scope 2 reductions. While Dometic can achieve its Climate Transition Plan and renewa- ble energy targets, doing so will require higher costs, which increases transition risk. The company is currently evaluating the financial viability of replacing this machinery with more energy efficient alternatives to reduce locked in emissions and support long term decarbonization. In relation to the climate change mitigation actions outlined under Disclosure Requirement E1-3, Dometic has identified substantial investment needs to support the implementation of its Climate Transition Plan. These invest- ments include upgrades to operational energy efficiency , replacement of energy-intensive machinery , sourcing of renewable electricity , adoption of low-carbon materials, product innovation to improve energy efficiency during the use phase, circular solutions to reduce Scope 3 emissions, and digital systems for emissions tracking and supplier engagement. While quantitative values and time periods for these investments are not disclosed at this stage, Dometic confirms that taxonomy-aligned CapEx KPIs are disclosed in accordance with Commission Delegated Regulation (EU) 2021/2178, for additional information refer to page 107 . CapEx plans are not relevant for Dometic at this stage, as the company does not maintain separate CapEx planning beyond the taxonomy-aligned disclosures referenced above. Furthermore, Dometic does not currently maintain objectives or plans (CapEx, CapEx plans, OpEx) for align- ing its economic activities with the criteria established in Commission Delegated Regulation (EU) 2021/2139; only taxonomy aligned CapEx KPIs are reported as noted above; except for regular business planning activities relevant for climate change actions. Dometic currently has limited direct involvement in coal, oil, and gas-related activities. However, the company recog- nizes significant value chain dependencies on fossil-based and carbon-intensive materials, particularly in the sourcing of plastics, steel, and aluminum. Efforts are underway to reduce these impacts through the adoption of recycled and low-carbon alternatives, as well as through material innova- tion and supplier engagement. As of the reporting period, Dometic does not meet the exclusion criteria for EU Paris aligned Benchmarks. The Climate Transition Plan is embedded in Dometic’ s business strategy and integrated into financial planning through a structured target-setting process. Annual interim targets for Scope 1 and 2 emissions, aligned with the 2030 goal, are developed during Q3 and Q4 through a formal dialogue between Group and the Segments. Once agreed, these targets are incorporated into segment budgets to ensure the allocation of resources required for delivery . For Scope 3, internal targets at the segment level are being progressively rolled out. At present, segments budget for Scope 3 reduction measures that contribute to long-term ambitions in a general manner, while specific targets at the segment or product-line level are established. In parallel, Group is engaging with the Investment Request team to better formalize the integration of the Climate Transition Plan into financial planning going forward. The Climate Transition Plan was developed by a cross-functional team and was presented to the Group Management as well as the Board of Directors in December 2024. In March 2025, Scope 1 and 2 short-term (2030) targets were disclosed and presented in this report. In May 2025, Group Management held a strategy session during which the implementation of the Climate Transition Plan was discussed, including the introduction of internal Scope 3 targets for both the near term and the long term (2050), covering key emission sources within the scope of the plan. The development of internal targets and associated perfor- mance metrics is expected to be phased in overtime. These discussions were subsequently noted and further consid- ered at the Board’ s strategy meeting in June 2025. Sustainability is an integrated part of Dometic’ s strategy , and the Board of Directors holds ultimate responsibility for overseeing sustainability matters, including the statutory sustainability report. In line with this responsibility , the Board has been informed about the Climate Transition Plan and its implementation as part of the company’ s governance model. ESRS 2 SBM-3 Material IROs and their interaction with strategy and business model For more information on how the material impacts related to climate change are identified and described, refer to page 75, and for a summary of the material topics, refer to page 81. As part of the Climate Transition Plan, a resilience analysis was conducted, focused exclusively on transition risks asso- ciated with climate change, intentionally excluding physical risks because the SBTi 1.0 framework centers on mitigation. Transition risks were assessed to align with the SBTi Net Zero Standard, using climate scenarios tied to 1.5°C and 2°C warming pathways. Distinct climate transition scenarios (1.5°C, 2°C) were developed and analyzed to determine feasible decarbonization pathways for Dometic’ s business. The scope covers only Dometic’ s own operations, including all segments, geographic locations and physical assets. The resilience analysis was embedded in the Climate Transition Plan and informed by the SBTi Net Zero Standard. The analysis applies SBTi timeframes, defining near-term as 3–10 years from the 2023 base year, which corresponds to the ESRS medium-term horizon, and long-term as periods beyond 10 years aligned with net-zero objectives, which fall under the ESRS long-term category of more than five years. Business and climate scenarios reflected alignment with the SBTi Net Zero Standard and were used to determine tran- sition risks, informing the setting of greenhouse gas (GHG) emissions reduction targets as reported under Disclosure Requirement E1-4. The assessment rated the implementation effort for each lever, adjusting timelines to reflect the impact of transition risks. This resilience analysis was conducted in 2024 as part of the development of the Climate Transition Plan and will be updated in the coming years as part of our enterprise risk management cycle. 91DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Environmental disclosures
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Dometic applies the following time horizons for climate risk and scenario analysis, in line with ESRS and SBTi guidance: • Short-term: 0–3 years (e.g., 2023–2026) • Medium-term: 3–10 years (e.g., 2026–2033), aligned with the SBTi near-term and ESRS medium-term horizon • Long-term: Beyond 10 years (e.g., 2033–2050), aligned with SBTi net-zero objectives and the ESRS long-term horizon These horizons are used consistently for climate and business scenario analysis (including the 1.5°C and 2°C sce- narios described in AR 11–12) and for setting GHG emissions reduction targets under E1-4. The 2026 and 2030 GHG targets fall within the short- and medium-term horizons. The analysis evaluated Dometic’ s capability to adjust its strategy and business model to climate change over mul- tiple time horizons. Decarbonization levers were detailed, reflecting the analysis, especially regarding the reduction potential, spend impact and implementation effort/com- plexity and risks. The decarbonization approach covers identification of climate-related transition risks and opportu- nities, potential financial impacts, and the response strategy . The magnitude of Dometic’ s climate-related impacts is reflected in its gross greenhouse gas (GHG) emissions across Scopes 1, 2 and 3. Detailed quantitative disclosures, including baseline comparisons and trends, are presented in ESRS E1-6 (Gross GHG emissions) and ESRS E1-4 (T argets related to climate change mitigation). Additional contextual information on climate change mitigation targets and the climate transition plan is provided in ESRS E1-1 (Transition plan for climate change mitigation). E1-2 Policies related to climate change mitigation and adaptation The policies related to climate change are described in the policy overview table 1 in ESRS 2 GOV-2, including details on the governance and implementation of these policies, refer to page 68. Supporting the Climate Transition plan are the Code of Conduct and the Design for Sustainability Guideline. Further details on how Dometic ensures its climate-related policies are accessible to potentially affected stakeholders, as well as those responsible for implementing them refer to section ESRS 2 GOV-2 on page 68. Code of Conduct The Code of Conduct establishes ethical principles and environmental standards guiding responsible and compliant behavior across the organization and value chain. The Code of Conduct applies to all Dometic employees, consultants, contractors, officers, and board members in every market where Dometic operates. The Dometic Business Partner Code of Conduct applies to all business partners globally . The Code of Conduct applies to Dometic’ s internal operations and the upstream value chain through supplier expectations outlined in the Dometic Business Partner Code of Conduct. It also extends to distributors and other down- stream business partners. The geographical scope covers all countries where Dometic operates. Affected stakeholder groups include employees, suppliers, contractors, and other business partners engaged in providing goods or services to Dometic. It reinforces Dometic’ s commitment to addressing climate change by requiring proactive measures to prevent, miti- gate, and rectify adverse climate impacts across operations and the value chain. It emphasizes reducing greenhouse gas emissions, improving energy efficiency , and sourcing renewable energy as integral parts of responsible business conduct. Employees are expected to support these efforts in daily activities, including product design, manufacturing, logistics, and travel decisions. The Design for Sustainability Guideline The Design for Sustainability Guideline sets clear rec- ommendations for reducing climate impact, particularly during the product use phase where most emissions occur. Objectives include improving energy efficiency , increasing the use of recycled and renewable materials, and promoting circularity , with ambition levels and project targets tracked through reviews and screening life cycle assessments. These guidelines apply to all new product development and major redesigns across all business segments and geographies, referencing recognized third-party standards such as ISO 14040/44 and FSC for packaging materials. In terms of climate change mitigation, Dometic is commit- ted to reducing its greenhouse gas emissions in line with its sustainability targets and prioritizing suppliers and partners that adopt more sustainable practices. The company also focuses on improving energy efficiency and increasing the share of renewable energy used in its operations. The Design for Sustainability Guideline directly targets mitigation by optimizing use-phase energy consumption, promoting lower GWP refrigerants, and improving material efficiency , while also addressing durability and longer product life- times, indirectly supporting adaptation. Broader circularity and resource efficiency goals are supported by requirements for recycled/renewable materials, recyclability , and minimi- zation of packaging and plastics. Dometic’ s current Business Continuity Planning (BCP) Guideline Regarding climate change adaptation, Dometic’ s current BCP Guideline covers elements of short-term climate resilience by implicitly supporting preparedness for acute climate-related hazards such as heat, flooding, storms, and drought, where these are identified as business interruption risks. However, the current BCP framework does not yet address long-term adaptation needs, including structured physical risk assessments, resilience planning for opera- tions and the supply chain, or climate-related investment considerations. To address this, Dometic has committed to updating the BCP Guideline in the coming years to explicitly integrate climate change adaptation requirements and form the basis for a more comprehensive adaptation steering document aligned with ESRS E1. Stakeholder expectations, including those of customers, regulators, and supply chain partners, are addressed through the Code of Conduct, supplier requirements, and sustainability targets informed by market expectation, such as customer requirements, industry benchmarks and regulatory standards. Overall, Dometic’ s integrated approach, guided by its Climate Transition Plan, Code of Conduct, and Design for Sustainability Guideline, ensures continuous improvement in climate performance in its operations and throughout its value chain, in line with both MDR-O and ESRS E1 requirements. E1-3 Actions and resources in relation to climate change Climate action is an essential part of Dometic’ s overall busi- ness strategy . Many climate actions are ongoing, particularly for activities in Dometic’ s own operations (Scope 1 & 2) and products, namely renewable electricity , energy efficiency , sustainable transport, and more energy-efficiency products, from the Climate Transition Plan. Actions and resources contributing to climate change mitigation In 2025, Dometic advanced several climate actions that form part of its Climate Transition Plan and overall sustainability strategy . Climate change-related investments today are not explicitly specified in the financial planning, but there are plans to do so in the coming years. These investments are directly aligned with climate mitigation objectives. Renewable electricity in own operations In 2025, Dometic increased the share of renewable elec- tricity across its manufacturing sites to 36%, up from 12% in 2023 and 29% in 2024. The sites covered by this action are in Canada, the United States, Mexico, China, and Australia. Currently , 84% of Dometic’ s global manufacturing and distribution facilities within the scope of GHG accounting 92DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Environmental disclosures
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and reporting were powered by 100% renewable electricity in 2025. The increase in renewable electricity in opera- tions is estimated to have reduced Scope 2 emissions by 5,456 tCO₂e compared to 2024. In 2025, Dometic initiated a project for the construction of a solar ground array at the T exas Mobile Cooling Solutions site, scheduled for completion in Q1 2026. To further accelerate progress, the company also designed a second strategic renewable energy initiative to install rooftop solar photovoltaic systems at its T exas facilities and enter into a Power Purchase Agreement (PPA). Installation is planned for 2026, with operations starting in 2027 . Upon completion, these two arrays are expected to supply approximately 20% of the site’ s electricity from on-site solar generation, strength- ening energy reliability , reducing costs, and supporting Dometic’ s 2030 targets for renewable energy and GHG emissions reduction. These actions affect Dometic’ s own operations (Scope 1 and Scope 2) and benefit customers through lower-carbon products and investors through alignment with climate targets. The measures described above are reduction levers for Scope 2 that include onsite renewable energy projects, energy attribute certificates, and direct contracts for renew- able electricity , and they directly support Dometic’ s Climate Transition Plan. Energy efficiency own operations Dometic has been implementing LED lighting upgrades across its facilities for several years. In 2024, these efforts continued at selected sites, and in 2025, the program expanded to include the Land Vehicle facility in Indiana. To reduce energy consumption and operational costs a LED lighting upgrade was launched in the L VA facility , supported by short-term ROI projections and reimbursement incen- tives, delivering immediate reductions in power usage. At the T ennessee site, progressive insulation improvements were completed to enhance thermal efficiency and lower energy demand. In 2024, Dometic launched several energy optimization initiatives across segments, including reducing cooling test time at a Land Vehicles Asia Pacific site (saving 12,000 kWh annually). These efforts continued in 2025 with operational efficiency measures at the Mobile Cooling Solutions manufacturing site in T exas. Actions included optimizing production schedules to reduce high-energy equipment use during low-demand periods, upgrading and adjusting cooling systems (scheduled for completion in office areas by year-end) and installing equipment monitoring on plant infrastructure and molding machines to quantify energy savings and support the machine replacement program. These initiatives contribute to Dometic’ s Climate Transition Plan and Code of Conduct commitments on energy and resource efficiency . The first two actions will deliver reduced energy consumption, cost savings, and improved thermal comfort for employees. The third action enables implemen- tation and reporting of energy efficiency actions in 2026 and later years. In 2025, Dometic implemented a series of operational efficiency measures at its T exas manufacturing site to reduce energy consumption and improve resource utilization. Key actions included optimizing production schedules to allow temporary shutdowns of high-energy equipment during periods of low demand and adjusting facility cooling sys- tems to reduce energy use during weekends and evenings, minimizing idle time for equipment and improving thermal management within the facility . In 2025, Dometic’ s Land Vehicles EMEA segment con- ducted an assessment of heating system performance across its regional sites to identify opportunities for improved energy efficiency . The analysis reviewed system effective- ness, maintenance practices, and scheduling strategies in relation to winter temperature variations in different EMEA regions. This initiative aimed to optimize energy use during colder months and reduce operational costs while maintain- ing site comfort and safety standards. In 2025, Dometic’ s Marine segment joined the U.S. Department of Energy’ s Better Plants Program, committing to reduce energy intensity by 25% over ten years. As part of this initiative, the site will establish a more granular baseline for stationary combustion of fuel and develop an energy management plan within 12 months. This commitment directly supports reductions in direct fuel consumption and Scope 1 emissions. These actions form part of Dometic’ s Climate Transition Plan and represent key decarbonisation levers focused on operational energy efficiency . They contribute to reducing Scope 1 and Scope GHG emissions and energy consump- tion within Dometic’ s own operations. While quantitative results for energy savings and GHG reductions are not yet validated for external disclosure, these measures are expected to deliver reductions reflected in the 2025 GHG inventory . These initiatives benefit customers through lower-carbon products and investors through alignment with climate targets. Resource efficiency upstream In 2025, Dometic continued its efforts to improve packaging efficiency across manufacturing operations. Building on the stretch film optimization completed in 2024, additional measures were implemented at selected sites to further reduce material use and improve resource efficiency in 2025. These actions contributed to lowering upstream Scope 3.1 GHG emissions associated with purchased packaging materials, as well as reducing operational waste and emissions linked to waste treatment. In 2025, Dometic introduced Recon, a new modular cooler system designed to enhance versatility and resource efficiency . Through advanced injection-molded construc- tion, the coolers are significantly lighter than traditional models, reducing material use while maintaining durability and performance. This approach supports Dometic’ s Climate Transition Plan by lowering the carbon footprint associated with raw material consumption and transpor- tation, contributing to Scope 3 GHG emission reductions across the product lifecycle. Building on the milestone achieved in 2024, when Dometic became the first company to offer RV windows made with recycled acrylic glass fully compliant with EU reg- ulations, the company advanced its circularity efforts in 2025 by increasing the share of recycled acrylic glass (rPMMA) in production. Starting in March 2025, the recycled content was gradually scaled up across RV window products, reducing reliance on virgin materials and improving resource efficiency . Supplier data indicates that using recycled acrylic glass can reduce cradle-to-gate GHG emissions by up to 65% compared to conventional materials. This initiative contributes to lowering upstream Scope 3.1 emissions and supports Dometic’ s Climate Transition Plan objectives for circularity and carbon reduction across the value chain. While further quantitative estimation of GHG reductions for 2025 and beyond are not yet validated for external disclosure, these initiatives are expected to deliver measur- able reductions reflected in the GHG inventory and support Dometic’ s long-term climate objectives. They also align with customer expectations for sustainable packaging and reinforce investor confidence through progress on resource efficiency . Energy efficiency downstream In 2024, Dometic continued to expand its portfolio of ener- gy-efficient products. In 2025, new launches such as CFX2, CFX5, and MY24 truck refrigerator delivered up to 30% greater energy efficiency compared to previous models. In addition to improved performance, these products feature significant weight reductions through optimized design and material use, supporting resource efficiency and lowering emissions associated with transportation. These innovations contribute to reducing downstream Scope 3 GHG emis- sions during use-phase of the products. In 2025, Dometic launched the innovative DG3 Gyrosta- bilizer, designed to improve energy efficiency during the 93DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Environmental disclosures
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product use phase. The DG3 uses approximately 40% less power compared to comparable products and incorpo- rates advanced bearings that last up to three times longer, reducing maintenance needs and extending product life. These improvements contribute to lowering GHG emissions during the use phase, supporting Dometic’ s Climate Transi- tion Plan objectives for downstream Scope 3 reductions. In 2025, eleven Dometic minibar models were rec- ognized as ENERGY STAR® Most Efficient for the fourth consecutive year, setting a benchmark for energy-efficient solutions in the hospitality sector. These models deliver superior performance while significantly reducing energy consumption during the product use phase. Improved energy efficiency directly contributes to lowering down- stream Scope 3 GHG emissions associated with product operation, supporting Dometic’ s Climate Transition Plan objectives for decarbonisation and lifecycle impact reduction. Refrigerants in products Dometic has been working for several years to transition to refrigerants with a lower global warming potential (GWP) compared to previous formulations across its product port- folio. In 2025, this long-term effort reached a key milestone when the Land Vehicles Americas segment ceased manu- facturing products using refrigerants classified as high-GWP under U.S. legislation, effective January 1, 2025. This change represents a reduction of more than 50% in GWP compared to the previous refrigerant, helping reduce greenhouse gas emissions during the product use phase and end-of-life, and supporting Dometic’ s broader decarbonization objectives and compliance with regulatory requirements. Actions and resources contributing to climate change adaptation In 2025, Dometic did not implement specific climate adap- tation actions beyond existing short-term business continuity practices. The current Business Continuity Planning Guide- line primarily addresses short-term operational resilience and does not yet include comprehensive measures for long- term climate-related risks such as heat, flooding, storms, or drought. Adaptation actions will be developed within the next two years to align with ESRS requirements. During the reporting period, Dometic did not identify any actual material impacts related to climate change or energy use that harmed stakeholders. Therefore, no remedy actions were required. If implementing the actions in the Climate Transition Plan would require additional investment and resources, it will be incorporated into the financial planning. This process will be in line with the existing financial reporting standards and processes. For further information on the investment in climate change mitigation and adaptation, please see the EU T axonomy section on page 107 . The implementation of Dometic’ s climate-related actions, including decarbonization measures, supply chain adjustments, and R&D investments, is highly dependent on the availability and allocation of financial and operational resources. Access to affordable financing and capital is critical for successful execution. The implementation of Dometic’ s climate-related action plan is primarily supported by internal human and operational resources, including ded- icated EHS teams, sustainability and financial controllers, and product compliance specialists. At present, no specific sustainable finance instruments, such as green bonds or green loans, are allocated to these actions. The ability to implement the action plan is subject to ongoing internal budget allocations and evolving regulatory requirements. Dometic does not currently track or disclose a consoli- dated amount of financial resources allocated specifically to climate-related actions at Group level. Expenditures related to climate change are integrated within broader operational and product development budgets and are not separately itemized in financial statements. The company will continue to assess resource needs and provide more detailed disclo- sures as data becomes available. Metrics and targets E1-4 T argets related to climate change mitigation and adaptation Dometic has established measurable, time-bound, and result-oriented targets to advance climate change mitigation across its operations. In 2025, Scope 1 and 2 GHG emis- sion reduction targets for 2026 and 2030 and renewable electricity usage in operations were set. T able 6 presents the targets for Scope 1 and Scope 2 GHG emissions disclosed separately and in aggregate. Absolute values (tCOe) for the baseline year 2023 and target years 2025 and 2030, as well as percentage reductions versus the baseline, are provided to ensure transparency and comparability . Dometic’ s Scope 1 and Scope 2 reduction targets are set in absolute terms using 2023 as the baseline year, covering all manufacturing sites and non-manufacturing sites larger than 6,000 m², including acquisitions from 2021–2022. Externally disclosed targets apply to activities under Domet- ic’ s operational control, following the GHG Protocol’ s operational control approach. Dometic currently does not externally disclose climate change mitigation targets for upstream or downstream value chain emissions. Geograph- ical boundaries cover all regions where Dometic operates within these criteria. The GHG reduction target was developed based on internal performance data, operational feasibility , and recognized scientific frameworks for climate action to ensure ambition and comparability . They aim for an average annual GHG reduction of approximately 4.2%, consistent with pathways required to meet the well-below 2°C scenario, and support EU and international climate policy goals. Assumptions include stable organizational boundaries, no normalization or multi-year averaging, and no external factor adjustments. While informed by science-based methodolo- gies, these targets have not been externally validated. The GHG emission reduction targets for Scope 1 and Scope 2 have been defined using the same organizational and operational boundaries as those applied in Dometic’ s GHG inventory . To ensure consistency , the Group Sustaina- bility Controller conducts a formal reconciliation of site-level data and inventory boundaries each year, verifying that all sites and activities included in the GHG inventory are also included in the target boundary . Any changes to the T able 6. Scope 1 & 2 T argets Scope Baseline Year 2023 (tCO2e) 2025 Target Reduction from BY 2026 Target Reduction from BY 2030 Target (tCO2e) 2030 Annual Target Reduction Scope 1 12,486 25% 38% 6,867 4.2% Scope 2 (market-based) 51,856 25% 38% 28,521 4.2% Scope 1 + 2 (Total) 64,342 25% 38% 35,388 4.2% 94DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Environmental disclosures
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inventory scope are reflected in future target updates. The GHG emission reduction target covers 100% of Scope 1 and Scope 2 emissions. Scope 3 emissions are not included in the current externally reported targets. T argets for Scope 2 emissions are set and tracked using the market-based method. The Scope 1 and 2 GHG emission reduction targets cover all greenhouse gases included in the Kyoto Protocol, expressed in CO₂ equivalents (tCOe). While all gases are considered, results are reported in aggregated form rather than disaggregated by individual gas. The renewable electricity target measures the percentage (%) of total electricity consumed from renewable sources within Dometic’ s own operations. The renewable electricity target is to achieve 45% of total electricity consumption from renewable sources by 2026 and 70% by 2030. The target is expressed as a relative share of total electricity consumed within Dometic’ s operational boundary . Y early reported values establish the baseline (12% , 2023) for performance evaluation, consistent with ESRS principles of transparent tracking rather than comparison to previous years. For the purpose of this target, “renewable electricity” refers exclu- sively to the following: • Electricity procured through Energy Attribute Certificates (EACs), other contractual instruments meeting GHG Protocol Scope 2 quality criteria. • Electricity procured through utility providers with Guaran- tee of Origins (GoOs). • Electricity from direct on-site generation from solar panels on Dometic premises. • However, electricity from the national grid without contractual instruments, i.e., national grid energy mix, is not included in this definition. The 2030 targets are subdivided into annual target mile- stones, ensuring consistent progress and ongoing monitor- ing. The renewable electricity target prioritizes clean energy use to decarbonize operations. Implementation is underway with improvements in renewable energy sources and energy efficiency . The targets were set together with Group Sustain- ability , Group Operations, finance and segment leadership. External stakeholders, including customers, investors, and other interested parties, have influenced Dometic’ s climate target-setting process through direct requests and ongoing dialogue, consistently expressing expectations for ambi- tious, science-based targets. While external stakeholders were not directly involved in the technical definition of the targets, their input was a key driver in the decision to pursue scope 1 and 2 emission reduction targets. Internal stakehold- ers, particularly those responsible for implementing climate reduction levers, are actively involved on a yearly basis as annual targets are set together with financial budgeting to ensure operational feasibility and alignment. Progress towards these targets is monitored through quarterly performance reviews involving segment leadership and HSE functions, and renewable electricity results are disclosed in the interim report. Energy targets for 2026 and 2030 are based on scientific and technical evidence demonstrating the environmental benefits of reducing energy consumption in manufacturing. These targets align with EU climate policies focusing on energy intensity reduction and emissions cuts. Industry benchmarks indicate energy efficiency improvements of 10–30% are technically feasible across manufacturing and operational sites, providing a scientifically supported basis for setting measurable, time-bound targets at Dometic’ s sites. Specific energy efficiency targets per Segment or product line will be developed in the next 2 years. The climate change targets were updated in 2025 due to an expanded reporting scope that includes acquisitions from 2021/22, resulting in substantial changes from the targets shown in the Annual & Sustainability Report 2024. Accord- ingly , the baseline was recalculated in 2025 to include these acquisition sites for 2023, ensuring full coverage of relevant activities. No normalization or multi-year averaging was applied because the baseline year (2023) reflects the most recent and complete operational scope. External factor adjustments were not performed due to lack of data and resources and were assessed as non-essential for representativeness. The recalculated baseline does not alter the ambition level of the targets but ensures comparability by aligning progress tracking with the expanded reporting scope, supporting transparent presentation of progress over time. For details on the climate scenarios considered, includ- ing a 1.5°C pathway and a high emission scenario, see E1-1. These scenarios inform Dometic’ s understanding of environmental, societal, technological, market, and policy developments and guide the identification of decarboniza- tion levers. During 2025, Scope 1 and 2 greenhouse gas (GHG) emissions were reduced by 32% from the 2023 baseline, as shown in Illustration 3. This progress was primarily driven by sourcing 36% renewable electricity , coupled with energy efficiency improvements. T arget performance is monitored quarterly using absolute emissions (tCO₂e) and the percent- age share of renewable electricity as key metrics. Progress is reviewed against planned milestones, and current results indicate that Dometic is on track to achieve its 2030 target of a 45% reduction in Scope 1 and 2 emissions. No significant negative deviations or unexpected trends were observed during the reporting period. Illustration 3. Scope 1 and 2 GHG emissions reduction -32% 0 20 40 60 80 100 2524232221 GHG emissions change vs. 2023 % 95DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Environmental disclosures
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E1-5 Energy consumption and mix Energy consumption is one of the most significant environ- mental aspects of Dometic’ s operations. Dometic’ s strategy to reduce impacts from energy consumption is mainly through renewable electricity and energy efficiency . Accounting principles: Energy The total energy consumption is reported in megawatt hours (MWh) and includes both direct and indirect energy use within Dometic’ s operational boundaries. Direct energy consumption covers fuels combusted on-site or in owned or controlled assets, including natural gas, diesel, gasoline, propane, liquefied petroleum gas (LPG), acetylene and other fossil or biobased fuels. It also includes energy generated from company-owned assets, such as solar panels. Indirect energy consumption refers to electricity , steam, district heating, and cooling purchased from external providers for operational use. Energy consumption data is collected from supplier invoices for electricity , heating, cooling, and fuels at all manufacturing sites and non-manufacturing sites larger than 6,000 m², in accordance with the ESRS 2 reporting scope. Fuel and electricity are reported into a central carbon management tool in different units and are all converted into megawatt hours (MWh) using standard conversion factors. Allocation between fossil and renewable sources is determined using supplier information and contractual agreements. Renewable electricity from the national grid is not accounted as renewable. Limitations include reliance on aggregated invoice data for smaller sites without sub-meter- ing, and the use of market-based instruments (e.g., EACs) which do not reflect physical delivery . These metrics have not been validated by third parties apart from CSRD’ s limited assurance from Dometic’ s external auditors. T able 7 . Energy consumption and energy mix Energy consumption and mix 2024 2025 (1) Fuel consumption from coal and coal products (MWh) – – (2) Fuel consumption from crude oil and petroleum products (MWh) – – (3) Fuel consumption from natural gas (MWh) 42,456 41,387 (4) Fuel consumtpion from other fossil sources (MWh) 7,365 6,019 (5) Consumption of purchased or acquired electricity, heat, steam, and cooling from fossil sources (MWh) 107,762 94,356 (6) Total fossil energy consumption (MWh) (calculated as the sum of lines 1 to 5) 157,584 141,762 Share of fossil sources in total energy consumption (%) 78% 73% (7) Consumption from nuclear sources (MWh) Share of consumption from nuclear sources in total energy consumption (%) (8) Fuel consumption for renewable sources, including biomass (also comprising indus- trial and municipal waste of biologic origin, biogas, renewable hydrogen, etc.) (MWh) (9) Consumption of purchased or acquired electricity, heat, steam, and cooling from renewable sources (MWh) 39,402 48,555 (10) The consumption of self-generated non-fuel renewable energy (MWh) 3,888 4,450 (11) Total renewable energy consumption (MWh) (calculated as the sum of lines 8 to 10) 43,290 53,004 Share of renewable sources in total energy consumption (%) 22% 27% Total energy consumption (MWh) (calculated as the sum of lines 6, 7 and 11) 200,873 194,766 T able 8. Energy intensity per net sales Energy intensity per net revenue 2024 2025 % change from PY Total energy consumption 200,873 194,766 –3% Total net sales (in Note 6) 24,620 21,042 –15% Total energy consumption per net sales (MWh/MSEK) 8.2 9.3 13% E1-6 Gross Scopes 1, 2, 3 and T otal GHG emissions Dometic defines its organizational boundaries for green- house gas (GHG) emissions in accordance with the GHG Protocol Corporate Accounting and Reporting Standard, applying the operational control approach. Under this approach, the geographical boundary comprises all regions and entities over which Dometic has operational control. GHG emissions are reported in thousands metric tonnes of carbon dioxide equivalents (ktCO2e) and classified as Scope 1, Scope 2, and Scope 3 emissions in line with the GHG Protocol. Scope 1 and Scope 2 GHG emissions are calculated using an activity-based approach and cover all manufac- turing sites as well as non-manufacturing sites larger than 6,000 m². Scope 2 emissions are disclosed using both the location-based and the market-based emission factors. Scope 3 GHG emissions are reported for the categories assessed as significant for Dometic’ s value chain in accord- ance with ESRS E1-6(c). The assessment of significance was based on a structured screening of all Scope 3 categories defined in the GHG Protocol. In this screening, Dometic considered a combination of estimated GHG emission magnitude, financial spend, relevance to Dometic’ s core activities and value chain, ability to influence emissions, and stakeholder expectations. The screening was supplemented by detailed calculations for selected Scope 3 categories where data availability allowed. Scope 3 categories were classified as significant where they were assessed to contribute substantially to total Scope 3 GHG emissions and/or were considered highly relevant to Dometic’ s business model and value chain based on the criteria described above. Based on this assessment, Purchased Goods and Services (Scope 3.1), Upstream Transportation and Distribution (Scope 3.4), Downstream Transportation and Distribution (Scope 3.9), and Use of Sold Products (Scope 3.11) were identified as significant and are therefore included in Dometic’ s Scope 3 GHG emissions 96DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Environmental disclosures
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reporting. The calculation methodologies applied vary by category and data availability , using a combination of activity-based and spend-based approaches. Other Scope 3 categories were assessed as not significant because they contribute minimally to total Scope 3 GHG emissions and/ or have limited relevance to Dometic’ s value chain based on the criteria described above. Dometic applies a hybrid methodology for Scope 3 accounting to capture the complexity of its upstream and downstream value chain. Emissions from Purchased Goods and Services (Scope 3.1) are estimated primarily at Group level using spend-based methods. Emissions related to the Use of Sold Products (Scope 3.11) are calculated using activity-based methods informed by business-specific and market data. Emissions from Upstream and Downstream Transportation (Scope 3.4 and 3.9) are calculated using a combination of activity data, spend-based estimates, and primary data from suppliers. Where primary data is not available across all tiers of the value chain, estimates, sector averages, and proxies are applied to ensure completeness of the inventory . The percentage of Scope 3 GHG emissions calculated using primary data from Dometic’ s own activities or from suppliers and other value chain partners amounts to 2%, with the remaining Scope 3 emissions estimated using secondary data sources such as emission factors, sector averages, and proxies, in accordance with ESRS E1-6e. During the reporting period, Dometic updated its GHG emissions inventory and related reduction targets to improve alignment with the GHG Protocol Corporate Accounting and Reporting Standard. Methodological updates included the use of more representative emission factors and the inclusion of data from acquired entities. As a result, previ- ously reported figures for Scope 1, Scope 2 and Scope 3.4 for 2023 have been restated to present a more accurate and complete GHG emissions inventory . Scope 1 emissions for 2023 were revised from 9 ktCO2e to 12 ktCO2e, Scope 2 (market-based) from 11 ktCO2e to 52 ktCO2e, and Scope T able 9. GHG emissions Retrospective Milestones and target years GHG emissions (ktCO2e) Base year 2023 2024 2025 % Change from BY % Change from PY 2025 2030 (2050) Annual % target / BY Scope 1 GHG emissions Gross Scope 1 GHG emissions 12 10 10 –19% –3% 9 7 – –4.2% Percentage of Scope 1 GHG emissions from regulated emission trading schemes (%) 0 0 0 – – – – – – Scope 2 GHG emissions Gross Scope 2 GHG emissions, location-based 61 58 56 –8% –4% – – – – Gross Scope 2 GHG emissions, market-based 52 39 34 –35% –14% 37 29 – –4.2% Significant scope 3 GHG emissions Total Gross indirect (Scope 3) GHG emissions 1,080 834 680 –37% –18% – – – – 1 Purchased goods and services 509 565 473 –7% –16% – – – – 4 Upstream transportation and distribution 156 29 23 –85% –21% – – – – 9 Downstream transportation 28 4 3 –89% –25% – – – – 11 Use of sold products 387 235 181 –53% –23% – – – – Total GHG emissions Total GHG emissions ( location-based) 1,153 903 747 –35% –17% – – – – Total GHG emissions ( market based) 1,144 883 724 –37% –18% – – – – 3.4 from 14 ktCO2e to 156 ktCO2e. These changes relate solely to methodological improvements and the inclusion of acquired entities; no material prior-period errors were identi- fied. Further details are provided in Topical Chapter E1. For market-based Scope 2 GHG emissions, Dometic applies the GHG Protocol “Scope 2 Guidance” (2015). The market-based method quantifies emissions based on electricity purchased through contractual instruments, either bundled with electricity or as unbundled instruments. Dometic uses Renewable Energy Certificates (RECs) and Guarantees of Origin (GoOs) as contractual instruments to reduce market-based emissions. The share of contractual instruments used in calculating market-based emissions in 2025 was 25%. At present, the company’ s reporting systems and data collection processes do not provide validated data on bio- genic GHG emissions. It is also worth noting that Dometic does not operate any biomass boilers at its sites, so biogenic emissions are not considered material for Scope 1 inventory . For Scope 1 and Scope 2 GHG emissions, Dometic is able to provide externally reported disaggregation by coun- try , based on data that has been subject to internal controls and validation procedures suitable for external disclosure. Further disaggregation of Scope 1 and Scope 2 emissions by individual GHG (e.g. CO2, CH4, N2O), by economic activity , or by source type (stationary combustion, mobile combustion, process emissions, and fugitive emissions) is not externally disclosed, as the underlying data has not been validated to a level appropriate for external reporting and limited assurance. Dometic continuously reviews its data col- lection and internal control processes. Any future expansion of externally reported disaggregation will be dependent on the availability of reliable, sufficiently validated data and internal resources. 97DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Environmental disclosures
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T able 10. Scope 1 & 2 emissions by country Disaggregation level (tCO2e) Scope 1 Scope 2 location-based Scope 2 market-based Canada 751 755 0 China 0 7,243 1,923 Germany 1,533 1,281 0 Hungary 206 605 0 Italy 279 65 0 Mexico 32 2,223 0 Slovakia 143 49 0 South Africa 195 1,024 0 Sweden 0 81 57 United Kingdom 13 35 0 United States 7,039 42,984 31,624 Accounting principles: GHG emissions For the calculation of GHG emissions, emission factors and calculation tools were applied in accordance with the GHG Protocol Corporate Standard and Scope 3 Standard. Scope 1 and Scope 2 emissions were calculated using emission factors from the EcoInvent database. Scope 2 market-based emissions were determined using supplier-specific emission factors where available. Scope 3 Category 1 (Purchased Goods and Services) emissions were calculated using pro- prietary emission factors provided by Matter S and modelled in an internal Excel-based calculation tool. Scope 3 Catego- ries 4 and 9 (Upstream and Downstream Transportation and Distribution) emissions were calculated using the EcoTransIT World tool and supplementary internal Excel-based mod- els. Where transport emissions data are not available, the spend-based approach is applied. Scope 3.9 is estimated based on the share of outbound freight paid by customers. Scope 3 Category 11 (Use of Sold Products) emissions were calculated using an internal Excel-based model applying emission factors from EcoInvent, selected based on prod- uct-specific use-phase assumptions. Dometic does not have joint ventures, unconsolidated subsidiaries, or jointly controlled operations or assets. In addition, Dometic has one associated company but does not maintain financial or operational control over the entity . Consequently , no GHG emissions from such entities are included in the reported figures in T able 9. All GHG emission scopes disclosed relate exclusively to the consolidated accounting group (parent and subsidiaries). Several Scope 3 categories are subject to measurement limitations due to reliance on secondary data and assump- tions, sector averages, and proxies, which results in a moderate to high level of measurement uncertainty . None of the GHG accounting and reporting has been validated by third parties apart from CSRD’ s limited assurance from Dometic’ s external auditors. Dometic will continue to refine its methodologies and increase the use of primary data as it becomes available. T able 11. GHG intensity GHG intensity per net revenue (ktCO2e/mSEK) 2024 2025 % change from PY Total GHG emissions (location-based) per net sales 0.037 0.035 –3.2% Total GHG emissions ( market-based) per net sales 0.036 0.034 –4.1% T able 12. Net sales used for GHG intensity Net sales (mSEK) 2024 2025 % change from PY Net sales used to calculate GHG intensity 24,620 21,042 –15% Net sales (other) 0 0 – Total net sales (in Note 6) 24,620 21,042 –15% 98DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Environmental disclosures
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Impact, risk and opportunity management E2-1 Policies related to pollution For an overview of the policies related to pollution, including details on the governance and implementation of these policies, refer to ESRS 2 GOV-2 on page 68. Dometic’ s efforts to prevent and manage pollution are guided by different Group-wide policies that meet or exceeds applicable environmental laws and regulations. The company has established policies and procedures to prevent and reduce releases to air, water, and soil, and to manage hazard- ous substances throughout the product lifecycle. Environmental impacts related to pollution occur upstream, in own operations and downstream in Dometic’ s value chain, primarily through resource extraction and material processing. Additional impacts also arise from transport and distribution emissions, product use, and the handling of end-of-life products. Potential pollution associ- ated with the end-of-life stage of products primarily arises from improper handling. If ozone-depleting refrigerants from cooling products are not properly recovered, they may be released into the atmosphere. Similarly , the incineration of plastic components under uncontrolled conditions can emit volatile organic compounds (VOCs), contributing to air pollution. Improper disposal of electronic waste may lead to the leaching of heavy metals into soil. These risks are largely avoidable; when end-of-life products are managed in accordance with established environmental standards and best practices, pollution can be significantly minimized or entirely prevented. Dometic’ s Code of Con- duct requires both the company and its business partners to actively minimize environmental impacts throughout the value chain. By setting clear principles, the Codes help drive continuous reduction of air emissions as well as soil and water pollutants beyond Dometic’ s own operation. Suppliers are required to comply with the Supplier Code of Conduct and Dometic’ s Substance Restricted List (RSL). These documents serve as key instruments to ensure com- pliance with regulations, prevent pollution, and promote responsible business practices throughout the supply chain. Through the Supplier Code of Conduct, suppliers are expected to actively assume environmental responsibility and contribute to preventing and managing pollution within their own operations. Dometic also addresses pollution indi- rectly through its Design for Sustainability guideline, which defines company-wide design principles and recommenda- tions. Environmental management is handled at site level in accordance with Group principles, and business segments are encouraged to maintain ISO 14001 certification. Dometic’ s Restricted Substance List (RSL) Dometic is committed to using safe materials and contrib- uting to sustainable solutions throughout the entire value chain. The Company’ s RSL serves as a governing document for identifying and restricting the use of substances subject to regulatory requirements or deemed to pose environ- mental or health risks. The list includes all substances that are restricted under applicable EU legislation and must be reported if they are present in any article or material delivered to the Group. Suppliers are required to report the presence of such substances directly to Dometic, regardless of concentration or exemptions. Additionally , depending on local, regional, or global regulations, suppliers may also have separate legal obligations to report certain substances to authorities. The Dometic RSL also supports the company’ s objectives for sustainable sourcing and responsible material management. The implementation of the RSL is overseen through a process that ensures cross-functional coordination and accountability . Regular meetings involving the sustainability , product and compliance teams are held to align on RSL implementation, monitor regulatory developments, and address identified risks. These meetings support continuous improvement and ensure that material restrictions are effectively integrated into product development. The RSL is made available to suppliers, typically through Dometic’ s supplier information channels and official documentation. While the specific method of communication may vary , suppliers are expected to access the list and ensure compliance with its requirements as part of their business relationship with Dometic. The RSL is publicly available at dometicgroup.com. Design for Sustainability guideline Dometic’ s Design for Sustainability guideline sets the approach for product development and defines compa- ny-wide design principles and recommendations. The guidelines support substance management and material substitution, contributing to product innovation. Design principles aim to reduce pollutant releases through material substitution, surface treatment choices, and refrigerant selection. They also include controls to minimize leaks during manufacturing and to limit pollution throughout the user and service phases. The guidelines do not specifically address pollution as a standalone topic they set out princi- ples for designing products to avoid or mitigate environ- mental impacts for example, through use phase efficiency , refrigerant selection, and material choices. Specifically , they advise avoiding flame retardants where not required and selecting the most environmentally sound alternatives when choosing surface treatments. The guidelines do not cover applicable legal requirements. Such requirements, for example REACH, RoHS, WEEE are embedded in the initial product requirements via the Dometic Product Develop- ment (DPDP) process. Dometic prioritizes replacing sub- stances of very high concern and allows their use only where no viable alternatives exist, supported by documented justification, risk management measures, and time-bound phase-out plans. A lead-in-brass phase-out plan is being developed to address EU T axonomy DNSH constraints for specific products. Environmental management systems Dometic’ s operations and value chain generate pollution primarily affecting air, but also water and soil. Environmental management is governed in a decentralized approach across segments and is adapted to local circumstances and customer demand. There is currently no consolidated Group-level guideline regarding the application of certified environmental management systems, but individual seg- ments are encouraged to pursue ISO 14001 environmental management certifications. Through these governing documents and processes, Dometic ensures a systematic, transparent approach to reducing environmental impacts and risks associated with pollution. The policies apply to all Dometic operations globally and extend to upstream suppliers through the Supplier Code of Conduct and RSL. Downstream impacts T able 13. Material sustainability matters and their related IROs Sustainability matters Value chain Positive/negative Impact Risk/ Opportunity Time horizon E2: Pollution Upstream Downstream Negative impact Risk and opportunity Short/medium/long E2 Pollution 99DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Environmental disclosures
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are addressed through product design guidelines and end- of-life considerations. There are currently no formal exclu- sions, but implementation may vary by region depending on regulatory requirements and certification status. Affected stakeholder groups include employees, suppliers, and customers. For details on the governance and implementa- tion of these policies related to pollution. For details on the governance and implementation of these policies related to pollution, refer to ESRS 2 GOV-2 on page 68. Through the implementation of its pollution-related governing documents, Dometic commits to respect several third-party standards and initiatives relevant to environmen- tal protection and pollution prevention, including the UN Global Compact, the Rio Declaration on Environment and Development, ISO 14001 for environmental management systems, and applicable EU legislation such as REACH, RoHS, and WEEE. These standards and frameworks guide Dometic’ s approach to pollution prevention, substance management, and responsible business conduct through- out the value chain. In setting Dometic’ s pollution-related governing docu- ments, Dometic considers the interests of key stakeholders, including customers and business partners, as reflected in the Code of Conduct and Supplier Code of Conduct. While there is no formal process for direct stakeholder consultation specifically for the development of pollution-related govern- ing documents at the Group level, stakeholder expectations are considered through alignment with international stand- ards, customer requirements, and regulatory frameworks. Local engagement may occur at the site or regional level as part of environmental management practices. For information on how Dometic makes the governing document available for implementation, refer to table 1 in ESRS 2 on page 69. Policies on incident prevention and response The prevention of pollution-related incidents and emer- gency situations, as well as the control and limit of impacts on people and the environment if incidents occur, is addressed through the following steering documents: the Health and Safety Guidelines, Loss Prevention Guideline, Business Contingency Plan, and the Novelty Risk Assess- ment embedded in the Dometic Product Development Process (DPDP). Together these documents establish a preventive control framework and incident response procedures. The Health and Safety Guidelines focus on incident prevention through outlining procedures for job hazard analyses, safe handling and storage of chemicals and training requirements for rele- vant employees and contractors in incident and emergency response. The Loss Prevention Guidelines further address incident prevention and impact minimization through risk assessments, prescribing protective measures and defining emergency response procedures, including roles, com- munication protocols and containment activities to protect people and the environment from harm. The Novelty Risk Assessment establishes requirements for assessing and mitigating risks to prevent incidents during the introduction of new production lines, manufacturing processes, and the launch of new products to the market. E2-2 Actions and resources related to pollution Each Dometic site’ s EHS team is responsible for managing compliance and reporting to local authorities on pollution- related data points. Pollution data collection is reviewed during Dometic’ s internal control process. Pollution-related IROs will be updated as part of the CSRD compliance process. Dometic has identified actions to prevent and, where necessary , reduce and mitigate pollution that cannot be fully avoided. Actions to prevent pollution include: • Compliance at manufacturing sites: Dometic’ s manufac- turing facilities ensure compliance with local environmen- tal legislation, including requirements for the prevention and limitation of pollution. Environmental controls are implemented through permits and management systems, and several sites maintain ISO 14001 certification. This is an ongoing action, maintained continuously at all manu- facturing sites. • Environmental Guidelines Development: Plans are underway to develop a Group consolidated Environ- mental Management System (EMS) guidelines for own operations by 2026. • Management of chemical substances: Dometic has implemented a RSL covering all substances restricted under applicable EU legislation. Suppliers are required to report any such substances present in materials or components delivered to the Group. The list governs the identification, restriction, and, where feasible, phase-out of substances with adverse environmental or health effects. This is an ongoing process, with the RSL updated regularly . Progress on these actions is overseen through defined responsibilities within Dometic’ s governance structure. Compliance with local environmental legislation is ensured at site and regional level in a decentralized manner. Progress on the development of Group EMS guidelines is overseen by the Head of Health, Safety & Environment (HSE) and the Global Sustainability Officer, in coordination with Segment Heads of HSE. The RSL is updated and maintained by the Head of Product Sustainability in collaboration with Product Compliance teams within the Segments. Actions to reduce and/ or mitigate pollution include: • DNSH alignment: Dometic aligns with the legal require- ments set out in Annex C – General criteria for the applica- tion of the “Do No Significant Harm” (DNSH) principle – relating to the prevention and control of pollution and the use and presence of chemicals. Exemptions for restricted substances are granted only where no technically viable alternative exists. Alignment with DNSH criteria is an ongoing process, with continuous improvements as regulations evolve. • REACH / Candidate List substances: Certain electrical products currently contain articles with substances listed on the REACH Candidate List (e.g., lead in brass). Dometic has identified the need to eliminate or reduce lead content to below 0.1% (w/w) to achieve full alignment with DNSH criteria under the EU T axonomy Regulation. This work is ongoing through product development and substance management processes. • Design for cleaner technologies and product solutions: Where feasible, Dometic invests in cleaner technologies and product solutions – for example, solar-powered systems – to reduce both direct and indirect pollution-re- lated impacts. The Design for Sustainability guidelines steer material choices, coatings, and refrigerants to avoid hazardous substances and minimize leakage during manufacturing, use, and service phases. • Group-wide data consolidation and site action plans: Dometic has initiated targeted actions to strengthen the management of pollution-related impacts and to improve data quality across the Group. Consolidating pollution data at Group level enables consistent monitoring across sites and business units. Site-specific action plans are being developed where pollution monitoring and reporting have previously been limited. These actions, coordinated by sustainability controllers and EHS teams, will enable Dometic to establish a Group-wide baseline for pollution performance and to define measurable targets and progress indicators in the coming years. These actions were initiated in 2025, with the aim to establish a Group-wide baseline and measurable targets within 2–4 years. 100DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Environmental disclosures
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Dometic has not established specific actions aimed at restoring or regenerating ecosystems affected by pollution. Thus, no dedicated resources are currently allocated to ecosystem restoration or regeneration. Given the nature of its operations, the company’ s environmental focus is on pre- venting pollution at the source through control measures, responsible chemical management, and strict compliance with local regulations. The implementation of Dometic’ s pollution-related action plan is primarily supported by internal human and operational resources, including dedicated EHS teams, sustainability and financial controllers, and product compliance specialists. At present, no specific sustainable finance instruments, such as green bonds or green loans, are allocated to these actions. The ability to implement the action plan is subject to ongoing internal budget allocations and evolving regulatory requirements. Dometic does not currently track or disclose a consoli- dated amount of financial resources allocated specifically to pollution-related actions at Group level. Expenditures related to pollution prevention and management are integrated within broader operational and EHS budgets and are not separately itemized in financial statements. Metrics and targets E2-3 T argets related to pollution At present, Dometic has not established a measurable, Group-wide target related to pollution. Pollution-related data are tracked at individual sites primarily for regulatory compliance. As a result, Dometic does not currently have a formal process in place to monitor the effectiveness of its policies and actions in relation to pollution-related impacts, risks, and opportunities (IROs). Ongoing efforts to consolidate pollution data and develop site-level action plans are expected to enable the establishment of measurable, Group-wide pollution targets within the next 2–4 years. This process will be carried out carefully , in accordance with the materiality concept, and with consideration for the management approach selected. The aim is to balance centralization with a decentralized management approach. E2-4 Pollution of air, water and soil In Dometic’ s direct operations, pollution risks are compar- atively low and primarily relate to air emissions and water discharges. Accordingly , the impact of pollution of air, water, and soil from Dometic’ s own activities is considered non-material. In 2025, 53% of Dometic’ s manufacturing and distribution sites were certified according to ISO 14001, driving continuous improvement and legal compliance environmental management system. Dometic’ s DMA has identified pollution-related risks and impacts across both upstream and downstream stages of the value chain as material. Impacts upstream occur in Dometic’ s value chain, particularly during the extraction and process- ing of metals, plastics, and plastic-based textiles used in raw materials or final products sourced by Dometic. These processes may involve substances of concern. Downstream impacts may arise from transportation, product use, and end-of-life product management. Currently , Dometic’ s data collection systems and processes are limited in their ability to provide validated data on pollution-related impacts across the value chain. Consequently , Dometic has chosen to apply the transitional provision related to Chapter 5: Value Chain for this reporting period. Looking ahead, Dometic aims to enhance its data collection systems and processes and develop an entity-spe- cific metric to enable future reporting in accordance with ESRS requirements. E2-5 Substances of concern and substances of very high concern Substances of concern and substances of very high concern (SVHCs) are chemicals with serious, long-lasting effects on human health or the environment. Dometic uses mixtures in production (e.g., coatings, adhesives, refrigerants) and places articles on the market globally . Dometic requires all suppliers to comply with the RSL. The RSL supports identifi- cation and, where required, notification to authorities and information to customers regarding substances of concern or SVHCs. The RSL covers substances requiring reporting to be notified to Dometic in case of their presence in an article or material delivered to Dometic Group. Reporting by suppliers shall be made using templates and tools provided by Dometic. SVCH is regulated and reported to the required and relevant national authorities following the rules set by European Chemicals Agency , ECHA. Some of the company’ s electrical products contain articles with substances listed on the REACH Candidate List, such as lead in brass. Dometic is actively working to eliminate or reduce the lead content to below 0.1% (w/w) to fully comply with the DNSH criteria under the EU T axonomy Regulation. Key risks include regulatory non-compliance, financial penalties, and reputational harm, especially in jurisdictions with increasingly strict pollution and chemical standards. The presence of SVHCs, such as lead in brass components, may also pose compliance risks under evolving chemical regulations like REACH. Conversely , strengthened sub- stance management and material substitution present opportunities to support product innovation and regulatory alignment. In the manufacturing and value chain of Dometic’ s products, substances of concern and substances of very high concern are to some extent used. A limited number of these substances are present in our products when they leave our production facilities. The most significant are those permitted under specific exemptions in RoHS, REACH, and EL V regulations. The SVHCs related to Dometic’ s products can be characterized into the following groups: • Lead in batteries and components. The total amount of lead in Dometic’ s products is estimated to be <200 metric tons in 2025. Lead is primarily used as an active component in lead acid batteries. Smaller quantities are used as an alloying element in brass and, to a lesser extent, in certain electronic components. Lead is used in compliance with the applicable RoHS and EU End-of-life Vehicles (EL V) exemptions. Dometic is currently assessing the opportunity to eliminate or reduce the lead content to below 0.1% (w/w) to fully comply with the Do No Significant Harm (DNSH) criteria under the EU T axonomy Regulation. The total amount of lead used is gradually decreasing, primarily due to an industry-wide shift from lead-acid batteries to lithium-ion batteries. • Chromate salts (Hexavalent Chromium). The total amount of chromate salts in Dometic’ s products (measured as Cr (VI)) is estimated to be <0.5 metric tons in 2025. Chromate is used as a corrosion inhibitor in absorption refrigerators. Dometic has obtained authorization for its use in Europe under the REACH Regulation, and its use in products is permitted under an exemption in the EL V Directive. Dometic has been engaged in an extensive effort over the past decade to replace chromate. Com- bined with a market shift from absorption technology to compressor technology , the use of chromate is expected to decrease significantly year by year. – Siloxanes. Dometic does not use siloxanes in its production process. However, siloxanes are a group of chemicals used as monomers in the production of silicone rubber. Consequently , it cannot be fully excluded that trace amounts of siloxanes may be present in certain components. The current content of siloxanes is expected to be very low. 101DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Environmental disclosures
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– Other chemicals. In addition to the substances listed above, there may theoretically be other chemicals present as contaminants, alloy constituents in trace quantities, or special additives. For regulatory com- pliance purposes Dometic monitors these substances through the RSL to ensure that their concentrations remain below applicable regulatory limits. Due to the nature of their presence, the exact quantities are not measured; however, the levels are expected to be low. Overall, the quantities associated with the use of these other chemicals are low. Given the continuous expansion of the SVHC list, Dometic also monitors potential risk substances, such as flame retard- ants, softeners and plasticizers, and metals, that may be added to the list in the future. In addition, Dometic closely monitors substances that are currently regulated but subject to specific regulatory exemptions, such as lead in brass. Accounting principles Dometic currently does not have complete visibility of all Substances of Concern and Substances of Very High Con- cern (SVHC) across operations and value chain, as informa- tion from certain segments/units/sites/products is not yet available at Group level. Nevertheless, Dometic reports on the data currently accessible, ensuring transparency regard- ing which segment/units/sites/products are included in the scope. All Dometic Group product portfolio is in scope. The quantity of lead and hexavalent chromium (the main contributors) has been estimated based on sales quantity of the different products and an estimated value of substance per product. For lead-acid batteries this value is based on an average value of lead per ampere-hour capacity of a battery and for hexavalent chromium it is based on an average amount of filling solution of the absorption refrigerators. T argeted actions have been initiated to strengthen the man- agement of pollution-related impacts and to improve data quality across the Group. Consolidating substances data at Group level will enable more consistent monitoring and follow-up. Site-specific action plans are being developed where data collection and reporting have previously been limited. These efforts are coordinated by the Sustainability Controlling function together with the EHS teams, as part of the ongoing process to establish consistent group-wide environmental reporting within Dometic’ s sustainability governance framework. The accounting principles will be further developed in the coming years. ESRS E5 Resource use and circular economy T able 14. Material sustainability matters and their related IROs Sustainability matters Value chain Impact Risk/ Opportunity Time horizon Resource use and circularity Upstream Own operations Downstream Negative impact Risk and opportunity Short/medium/long Waste Own operations Downstream Negative impact Risk and opportunity Short/medium/long Impact, risk and opportunity management E5-1 Policies related to resource use and circular economy For an overview of the policies related to resource use and circular economy , including details on the governance and implementation of these policies, refer to ESRS 2 GOV-2 on page 68. The Dometic Code of Conduct applies to both Dometic Group’ s own operations and Business Partners. It outlines Dometic’ s commitment to environmental responsibility and compliance with local environmental legislation and serves as the main policy adopted by the highest governance body , namely the Board of Directors. The Code of Conduct also reflects Dometic’ s commitment to considering the interests of key stakeholders, including customers and business partners, as well as guiding responsible business conduct throughout the value chain. Compliance with the Code of Conduct is ensured through mandatory training, internal audits, and regular compliance reviews as part of the Group’ s governance framework. The implementation of the principles outlined in the Code of Conduct is supported by several governing documents that support the management of impacts, risks, and opportunities related to resource use and the circular economy . Design for Sustainability Guideline Dometic’ s Design for Sustainability Guideline is an important governing document to address the impacts, risks and opportunities related to circularity and resource use, as well as waste management, across the value chain. It supports the development of innovative, durable, circular, and low carbon products. Dometic’ s approach to circularity is to increase the use of renewable and recycled materials and extend the expected lifetime of products through service and aftermarket programs such as preventative mainte- nance, spare parts, and upgrade kits. Through the guideline, Dometic promotes producer responsibility principles by encouraging circular product design, the use of recycled and renewable materials, and facilitating end-of-life man- agement through design for recyclability and disassembly . Implementation of the Design for Sustainability Guideline is monitored through its integration into the Dometic Product Development Process (DPDP), which includes defined checkpoints and reviews to ensure adherence to circularity and resource use principles. In markets where Extended Producer Responsibility (EPR) schemes apply , Dometic addresses these requirements through the compliance processes embedded within the DPDP . This approach enables Dometic to capture oppor- tunities related to secondary materials and aftermarket 102DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Environmental disclosures
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services, while also mitigating risks associated with resource scarcity and evolving regulatory requirements. The main metals used in Dometic products are steel, aluminum, and copper. Nickel, chrome, and zinc are used for coatings. Steel and aluminum are among the most widely recycled materials globally . Both metals can be reused repeatedly without loss of quality , making them essential for circularity . Dometic is currently establishing a baseline for the use of recycled metals and is committed to increasing the share of recycled content in its products over the coming years. In addition to metals, plastics represent a significant share of Dometic’ s raw material use. Dometic actively promotes the use of recycled and bio-based plastics, and the Design for Sustainability Guideline requires documentation of the percentage of recycled and/or bio-based content in plastic components. Dometic is working to expand the use of recy- cled plastics where technically feasible and to explore bio- based alternatives to reduce reliance on virgin fossil-based materials. Through the Value Analysis/Value Engineering (VAVE) process, Dometic systematically evaluates alternative features, materials, and designs to improve environmental performance, including the increased use of recycled and renewable materials where feasible. The company’ s approach to waste management follows the waste hierarchy , prioritizing prevention, preparation for reuse, and repair before recycling, recovery , and disposal. To address the impacts associated with product end-of- life treatment, Dometic has established the Design for Sustainability Guideline based on eco-design principles. Product end-of-life handling varies by product type, and the economic value and attractiveness of sorted and recycled materials depends on how effectively different fractions are separated. For example, it is essential that metals are kept clean and not mixed up, even very small impurities of other metals harm the recycling process significantly . Accordingly , the guideline prioritizes clear recycling instructions and design choices that enable easy disassembly , separation and identification of parts and materials, supported by the Design for Sustainability Guideline’ s recommendations to enhance product recyclability . Dometic has not yet established a consolidated Group- level governing document specifically addressing the management of impacts, risks, and opportunities related to waste at manufacturing and distribution sites. To strengthen governance and harmonize practices, Dometic plans to develop Group-wide Environmental Guidelines by 2026. These guidelines will form the foundation of an EMS for own operations and will include principles and procedures to manage impacts, risks, and opportunities arising from site-level waste management practices. Through the implementation of its resource use and circular economy-related governing documents, Dometic commits to respect several third-party standards and initia- tives, including the UN Global Compact, the Rio Declaration on Environment and Development, ISO 14001 for environ- mental management systems, and applicable EU legislation related to circularity , such as the Waste Framework Directive and the Packaging and Packaging Waste Regulation (PPWR), among others. E5-2 Actions and resources related to resource use and circular economy In 2024, Dometic initiated a series of actions to improve resource efficiency and embed circular economy principles across its operations. An action plan was launched to address gaps in waste accounting at manufacturing and distribution sites where this had not previously been a focus. In addition, a Scope 3.1 emission accounting exer- cise provided deeper insight into the resources Dometic sources and their associated climate impacts. Building on this analysis, Dometic integrated circularity initiatives into its Climate Transition Plan, identifying opportunities to reduce emissions and improve resource efficiency through meas- ures such as: • Increasing the use of alternative and recycled feedstock for upstream products • Reducing the quantity of plastics by using more efficient grades and recycled plastics • Expanding the use of recycled steel and aluminum • Switching to recycled packaging materials and implementing other circular packaging strategies • Introducing compressors manufactured with recycled materials This assessment was conducted at Group level to identify potential impacts and opportunities. Concrete action plans for individual segments will be developed in the coming two years. Actions and resources contributing to the circular economy • Dometic is currently establishing a baseline for the use of recycled metals and is exploring increasing the share of recycled content in its products. This initiative is led by product and sourcing teams with support from Group Sustainability and Group Finance. • A Lifecycle Assessment (LCA) tool is being investigated as a means to identify resource and emission hotspots at the product level and to guide actions that enhance efficiency in the use of technical and biological materials and water, while reducing emissions across the product life cycle. LCA models have already been developed and tested on selected products, including windows and minibars, with further testing planned for additional product categories during 2026. • Dometic promotes circularity by designing lighter, longer-lasting products, and using recycled materials. Starting in March 2025, Dometic will gradually increase the share of recycled acrylic glass (rPMMA) in RV window products. • Through the Design for Sustainability Guidelines and the Dometic Product Development Process, new products are engineered for durability , serviceability , repairability , upgradability , and recyclability . In 2025, 36% of the product development projects had a significant sustaina- bility ambition. • Dometic offers Service & Aftermarket – including replacement products, modernization/upgrade kits and spare parts. • Actions taken to engage with Dometic’ s upstream and downstream value chain and/or its local network on the development of collaborations or initiatives increasing the circularity of materials. Site initiatives – such as improved pallet/cardboard recycling, onsite LDPE regrind, and partnerships that turn plastic waste into benches – keep materials out of landfill and involve the company’ s value chain partners. • Measures to improve waste diversion from landfill and reduce site-level waste generation have been ongoing since 2022. In 2025, improvement in operational waste accounting was led by the Controlling organization and EHS teams. Operational improvements are led by the Manufacturing teams on site. The implementation of Dometic’ s resource use-related action plan is primarily supported by internal human and operational resources, including dedicated EHS teams, sustainability and financial controllers, and product compliance specialists. At present, no specific sustainable finance instruments, such as green bonds or green loans, are allocated to these actions. The ability to implement the action plan is subject to ongoing internal budget allocations and evolving regulatory requirements. Dometic does not currently track or disclose a consoli- dated amount of financial resources allocated specifically to resource use and circularity actions at Group level. Expendi- tures related to this topic are integrated within broader operational and product development budgets and are not separately itemized in financial statements. Progress on previously disclosed actions to reduce and recycle waste at manufacturing and distribution sites 103DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Environmental disclosures
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continued in 2025. Building on earlier initiatives, Dometic launched an action plan for site-waste reduction and landfill diversion in sites acquired in 2021/2022. The current initia- tives form the foundation for future performance evaluation and will be linked to targets, refer to ESRS E5-3. Quantitative progress will be reported as consolidated data becomes available. Governance of these actions is managed at the Group level, with oversight from sustainability and opera- tional leadership. Metrics and targets E5-3 T argets related to resource use and circular economy As there is no landfill diversion target set for 2025, perfor- mance data will be disclosed in future reports versus the 2026 target, once implementation is underway and tracking systems are established. Progress will be monitored through established performance indicators and reviewed quarterly , with analysis of trends and significant changes provided as validated data becomes available. In 2025, landfill diversion targets for 2026 and 2030 were set, aligned with the same scope of operations as the E1 climate change mitigation targets. This means that all global manufacturing sites, regardless of size, and all non-manufacturing sites larger than 6,000 m² are included in the metric. The landfill diversion target is measured as the percentage (%) of total waste generated that is diverted from landfill. The defined target level is to divert 90% of total waste generated from landfill by 2030, measured as a per- centage of total waste. For further information see section E5-5. This is an absolute target. Each year’ s reported value serves as the baseline for performance evaluation, rather than a comparison to previous years. The baseline year from which progress is measured is 2023, when Dometic reached 64% diversion rate. The target is further broken down into internal annual milestones to ensure consistent progress and monitoring. The target supports the EU waste hierarchy by prioritizing recycling over landfill and promoting circular resource use. While implementation is ongoing, improvements in waste handling and material sourcing are already underway , forming the basis for medium- and long-term performance against these targets. Progress toward the landfill diversion target is monitored through established performance indicators and reviewed quarterly during operational review meetings with segment heads of operations and EHS teams. Landfill diversion targets for 2026 and 2030 are based on scientific and technical evidence demonstrating the environ- mental benefits of diverting materials such as plastics, met- als, and paper from landfill to recycling or recovery . These targets align with the EU Waste Framework Directive’ s waste hierarchy , which prioritizes prevention, reuse, and recycling over disposal. Industry benchmarks indicate that diversion rates of 50–90% are technically achievable across manufac- turing and large operational sites, providing a scientifically supported basis for setting measurable, time-bound landfill diversion targets at Dometic’ s sites. However, these targets are voluntary and not subject to regulatory requirements. Stakeholders were actively consulted during the voluntary target-setting process to ensure alignment with operational priorities and broader sustainability objectives. These targets directly support Dometic’ s resource efficiency and circular economy policy objective to minimize waste generation, increase recycling rates, and reduce reliance on landfill disposal. By setting time-bound landfill diversion targets for 2026 and 2030, Dometic operationalizes this policy objective and translates it into measurable perfor- mance expectations. As there is no landfill diversion target set for 2025, per- formance data will be disclosed in future reports versus the 2026 target, once implementation is underway and tracking systems are established. Progress will be monitored through established performance indicators and reviewed quarterly , with analysis of trends and significant changes provided as validated data becomes available. At present, Dometic has identified several value chain-re- lated measures and reduction levers in its Climate Transition Plan – such as increasing the use of alternative and recycled feedstock for upstream products, reducing the quantity of plastics, expanding the use of recycled steel and aluminum, switching to recycled packaging materials, and introducing compressors manufactured with recycled materials. How- ever, Dometic has not yet established specific, measurable targets for these value chain-related circularity actions. The company will continue to assess and develop relevant targets as data availability and operational maturity improve. At present, Dometic does not track the effectiveness of these value chain-related circularity actions, as specific, measurable targets and related indicators have not yet been established. For more information on Dometic’ s Climate Transition Plan, targets and integrated circularity initiatives to increase resource efficiency and reduce emissions, refer to E1 climate change on page 90. E5-4 Resource inflows Dometic monitors resource inflows to ensure responsible sourcing and efficient material use across its operations. In 2024, the Group consolidated E5-related data to enable consistent tracking of material use and waste across sites, forming the basis for future performance evaluation. The main raw materials used in Dometic products are plastics (30%), packaging material (14%), steel (12%), foam (11%), aluminum (10%), copper (8%), brass (3%), and other materials (12%), This composition reflects the diverse material needs across our product portfolio, with plastics and metals representing the largest shares of our raw material spend. Dometic identifies any critical raw materials and rare earth elements where applicable. Dometic depends on finite resources such as metal ores used in electronics, contribut- ing to resource depletion and environmental impacts. To mitigate this, Dometic is increasing the share of recycled steel and aluminum in sourcing, reducing reliance on virgin materials and supporting circularity goals. At present, Dometic does not have internally validated and consolidated quantitative data on the overall total weight of materials used, the percentage of biological materials and related certification, or the absolute and percentage weight of secondary reused or recycled com- ponents and materials. During 2025, Dometic initiated an assessment to better understand the recycled content in the aluminum, steel, and stainless steel materials in the material inflow. A questionnaire was developed and distributed to key suppliers to collect component-level data, yielding a response rate of 68%. One key challenge identified was the limited availability of supporting documentation to verify reported recycled content, which constrains the possibility of public disclosure at this stage. In cases where data was not provided, Dometic has assumed a recycled content of zero, even for materials that are typically recycled at high rates across the industry . In 2026, Dometic aims to expand this initiative to include additional material categories and further strengthen data reliability through closer supplier collaboration. These resource inflow metrics are under development as part of the Group’ s resource inflow accounting process. Data collection systems are being enhanced to enable future reporting in line with ESRS requirements. Accounting principles Resource inflow data on total weight is collected monthly at site level by sourcing teams, validated by sustainability controllers, and consolidated through internal systems, by per invoice and per supplier and measured in spent. Whenever there is no data available, the weight of inflow materials is estimated based on the IDCO codes from similar materials. These actions align with Dometic’ s circular economy strategy and will support more robust disclosures in the coming years. 104DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Environmental disclosures
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E5-5 Resource outflows Dometic’ s ambition is to offer innovative, durable, circular and low carbon products, and the company aims to provide resources and energy efficient products. This ambition is supported by the Design for Sustainability Guidelines and Dometic’ s approach to circularity . Dometic actively increases the use of renewable and recycled materials and focuses on extending the expected lifetime of its products. Dometic plays an important role in enabling more circular lifestyles by designing products and solutions that support resource efficiency . Dometic’ s Design for Sustainability Guideline provides recommendations for product develop- ment projects on how to enhance the recyclability of each product. Dometic participates in mandatory EPR and recy- cling schemes in all markets where Dometic is active. These schemes cover categories such as packaging, electronics, and batteries, and require compliance with local regulations on collection, recycling, and reporting. Dometic ensures registration with Producer Responsibility Organizations (PROs), pays applicable fees, and monitors evolving require- ments to maintain compliance. In addition, the company is assessing emerging EPR obligations globally – such as digital product passports and modulated fee structures – to integrate circularity principles into product design and future reporting. Dometic does not assess product reparability using an established rating system. The company is, how- ever, using its Service and Aftermarket program to ensure durability and extend product lifetime. At present, Dometic Group does not have validated and consolidated quantitative data on the expected durability of products compared to industry averages, the rates of recyclable content in products, or the rates of recyclable content in product packaging. These metrics are under development as part of the Sustainability Reporting Manual implementation and resource outflow accounting process. Data collection systems are being enhanced to enable future reporting in line with ESRS requirements. Durability standards vary significantly within the markets relevant to Dometic’ s product offering, and no universally accepted benchmark currently exists. Meaningful compar- isons between manufacturers remain complex, particularly within the mobile living segment, where regulatory envi- ronments and usage intensity differ widely across regions and applications – from short recreational use to continuous life on the move or at sea. These distinct conditions require product-specific standards that address challenges such as vibration, temperature fluctuations, and irregular power supply . Dometic maintains a comprehensive perspective on product durability by monitoring multiple performance indicators and engaging in dialogue with relevant stand- ardization organizations across the automotive, marine, and outdoor industries. Real-world data, including warranty statistics and insights from global service partners and users, provide valuable input for continuous improvement. Although detailed measurement data for every product line are not yet systematically tracked, ongoing monitoring and follow-up activities support a holistic understanding of product performance in demanding mobile environments. The company’ s “Design for Sustainability” guideline is embedded within the product development process. Engineering teams integrate durability and endurance princi- ples early in the design phase, using advanced simulations to replicate years of exposure to harsh conditions – ranging from persistent road vibration to corrosive saltwater envi- ronments. Incorporating reliability at this stage prevents premature product failures, enhances customer satisfaction, and contributes to resource efficiency . As a result, reliability serves as a key enabler of long-term product performance, customer confidence, and sustainability progress. Sustainability principles are integrated early in product development, engineering durability and long-term performance from the start. 105DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Environmental disclosures
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Waste Dometic’ s production facilities support circularity by minimizing waste generation and landfill disposal. Dometic works continuously to increase resource efficiency through initiatives such as optimizing packaging, utilizing regrinds, and reducing product weights. These efforts are driven by EHS and Operations teams at each site and monitored through internal reporting processes. In 2025, operational waste amounted to 14,590 metric tons, of which 624 metric tons were hazardous waste. Overall, 74%, 10,819 tons of total waste was diverted from landfill, reflecting progress toward our circularity goals. Looking ahead, Dometic aims to further increase waste diversion and expand material reuse programs across all manufacturing sites. The main waste streams relevant to Dometic’ s manu- facturing activities include packaging waste (cardboard, plastics), production scrap (metals, plastics, foam), and general operational waste (wood pallets, mixed household waste). Materials present in these waste streams typically include plastics (e.g., LDPE, PP), metals (steel, aluminum), wood, paper/cardboard, and small quantities of electronic components. No radioactive waste is generated. Accounting principles Reported waste data is collected from the Group’ s waste handling contractors, based on the number of collections during the reporting period. Waste is measured in metric tonnes and categorized by treatment methods, including recycling, incineration, and landfill. It is further classified as hazardous or non-hazardous and by material type, such as wood, plastic, metal, household waste, and cardboard. Whenever invoice data is not available, an estimation is con- ducted on site level based on container sizes and discharge frequency from waste contractors. The data is then consol- idated and reported on group level. Currently , 66% sites in scope are estimated based on the approach, yielding 92% in the total waste reporting . This metric is used to evaluate the performance related to the material impacts and risks of the E5 waste sub topic. Waste diversion rate is defined as waste diverted (recy- cling and incineration with energy recovery) divided by total weight generated. In 2025, Dometic focused on improving waste data quality in alignment with the Sustainability Reporting Manual (SRM). The company completed the waste metric to cover the full scope of operations. Currently , Dometic waste metrics are not validated by any external body other than the statutory assurance provider; data collection and consolidation are carried out internally in collaboration with waste contractor. T able 15. T otal amount of waste from own operations (t), recycled and non-recycled 2024 2025 Total amount of waste generated 15,413 14,590 Hazardous waste 243 624 Non-hazardous waste 15,169 13,966 The total amount by weight diverted from disposal (recycled waste) by; Preparation for reuse (hazardous, non-hazardous) – – Recycling (hazardous, non-hazardous) 71, 9,156 205, 10,047 Other recovery operations (hazardous, non-hazardous) 18, 807 1, 772 The percentage of recycled waste 1%, 65% 1%, 74% The total amount by weight directed to disposal (non-recycled waste) by; Incineration (hazardous, non-hazardous) – – Landfill (hazardous, non-hazardous) 12, 5,121 8, 3,071 Other disposal operations (hazardous, non-hazardous) 142, 85 409, 76 The percentage of non-recycled waste 1%, 34% 3%, 22% 106DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Environmental disclosures
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In accordance with the EU’ s taxonomy for sustainable activities (EU 2020/852), Dometic has assessed which of its business activities qualify as “eligible,” meaning they fall within the scope of the taxonomy . Eligible activities can then be classified as “aligned” if they meet the technical screening criteria, comply with minimum social safeguards, and do not significantly harm (DNSH) other environmental objectives. For the reporting year 2025, Dometic applies the EU taxonomy rules prior to the Omnibus Delegated Act (EU) 2026/73 amendments, effective for reports on financial year 2025. Activities in scope The technical screening criteria for potentially aligned economic activities in 2025 apply specifically to those focused on environmental objectives mitigation and the transition to a circular economy . These criteria encompass a range of activities outlined in the taxonomy , including the manufacture of electrical and electronic equipment, renew- able energy technologies, batteries and energy-efficient equipment for buildings, among others. Dometic’ s products are designed and intended for out- door use, which do not categorize as household products in the context of the EU energy legislation and are thereby not eligible according to the EU framework. However, Dometic is a manufacturer of renewable energy technologies, batteries and other electrical equipment that are eligible according to the EU T axonomy framework, even though some of the products are entirely sourced as traded goods. Most of Dometic products are for mobile living, such as caravans, RVs, and boats, and therefore, not considered eligible under CCM 3.5. Revenue Dometic’ s share of total reported revenue associated with taxonomy-eligible activities in 2025 was 48.1%. This proportion is mainly allocated toward the circular economy objective covering net sales from electrical and electronic consumer-use equipment and spare parts. The remaining share is allocated toward the environmental objective climate change mitigation covering net sales from solar panels and batteries, and refrigeration appliances. It is challenging to determine the exact amount of electronic products sold outside the EU that are under CCM 3.5. Therefore, an estimate is conducted based on the similar products sold in the EU in ratio the overall sales figures in and out of the EU. This includes minibars, wine cellars and some specific compressor cooling boxes. Total turnover included in the denominator can be found in the consolidated income statement on row net sales. For a more detailed description of consolidated revenues, see note 6. As the Human Rights Due Diligence procedure was not implemented at the beginning of 2025, Dometic has not met the minimum safeguards in this reporting year. Con- sequently , Dometic has not reported aligned revenues for 2025 or comparable numbers for 2024. Capital expenditures (CapEx) Dometic’ s share of investment associated with taxonomy eligible activities in 2025 was 78.2%. The majority of the eligible investments are related to the Group’ s right of uses assets in buildings and investment associated with eligible revenue-related activities. A minor contribution is derived from investment in electrical cars, charging stations and improvement of building’ s energy efficiency . Taxonomy DOMETIC’S REPORTING IN ACCORDANCE WITH THE EU TAXONOMY REGULATION Total capital expenditure refers to this years investment in tangible and intangible assets excluding goodwill which is shown in notes 14 and 15 in the lines investments for the year and acquired in business combinations. Further on this years added right-of -use assets is shown in note 8 in line additions/changes during the year. The property owner is usually responsible for mainte- nance, renovation and repairs why Dometic has little to no possibility to impact the energy efficiency of the building. However, where it is possible, Dometic work together with property owner in order to minimize the building’ s climate related impact, e.g., by converting to renewable electricity , installing solar panels and other actions that increase the building´s energy efficiency . Other additional investments related to installations, minor renovations, new machinery , and technical equipment etc. that do not have a direct connection to the Group’ s eligi- ble products have not had a substantial impact on the site´s total energy performance and are therefore not considered aligned. As the Human Rights Due Diligence procedure was not implemented at the beginning of 2025, Dometic has not met the minimum safeguards in this reporting year. Conse- quently , Dometic has not reported aligned CapEx for 2025 or comparable numbers for 2024. Operating expenses (OpEx) According to the taxonomy regulation, operating expenses are defined as direct non-capitalized costs associated with maintaining the value of assets linked to companies’ eligible products. This relates to costs for research and development (R&D), short-term lease, repair and maintenance. Dometic’ s share of OpEx associated with taxonomy eligible activities in 2025 was 48.1%. Eligible expenses include a share of repair and maintenance, along with costs associated with collecting, processing, and storing user data from Dometic’ s products. The majority of expenses related to product devel- opment is targeting products that are not included in the current scope of the taxonomy . The denominator consists of repair and maintenance costs, low value and short-term lease cost (note 8) and product development cost. Repair and maintenance costs are presented as a part of costs for raw materials and manufacturing supplies (note 6). As the Human Rights Due Diligence procedure was not implemented at the beginning of 2025, Dometic has not met the minimum safeguards in this reporting year. Conse- quently , Dometic has not reported aligned OpEx for 2025 or comparable numbers for 2024. Minimum Safeguards As the Human Rights Due Diligence procedure was not implemented at the beginning of 2025, Dometic has not met the minimum safeguards in this reporting year. Con- sequently , Dometic has not reported aligned revenues for 2025. Despite of failing to meet the Minimum Safeguards, the following procedures have been implemented to ensure alignment with the policies and procedures of the Social Minimum Safeguards: • The Dometic Code of Conduct and the Code of Conduct for Business Partners define the ethical business practices of Dometic and its business partners within the areas of governance, environment, social conditions, and health and safety . 107DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Environmental disclosures
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• Dometic is a signatory to the UN Global Compact and committed to working with the ten universally accepted principles in the areas of human rights, labor, the environ- ment, and anti-corruption. • Dometic performs ESG assessments of all new direct material suppliers as part of the onboarding process. In addition, Dometic assesses its suppliers for ESG on a regular basis in order to ensure adherence to the Code of Conduct for Business Partners. Dometic has adopted effective environmental management systems (ISO 14001, ISO 50001, ISO 45001, SA 8000) in selected sites. See overview of certified sites on Dometicgroup.com. • Dometic views tax compliance as an essential component of our commitment to grow in a sustainable, responsible, and socially inclusive manner. Dometic complies with the tax regulations in countries where the Company operates. The Group T ax function and national tax and finance functions ensure that the financial, regulatory , and repu- tational risks associated with taxation are fully identified, evaluated and managed. Dometic’ s tax policy is approved annually by the Board of Directors. The purpose of the tax policy is to ensure that the Group has a framework that is in line with the Group’ s objectives regarding taxes and tax-related risks. According to the policy , Dometic shall comply with and be up to date with applicable laws, rules and regulations, and manage tax risks. Dometic shall not engage in artificial transactions or create structures that do not have any business purpose. For more information related to the Group’ s tax disclosures, see note 12. • Dometic’ s Code of Conduct states that the company sup- ports the principles of free enterprise and fair competition as the basis for business development and innovation. Dometic strives to compete on the market in a manner that is both ethical and fair, without engaging in any inappro- priate activities or unfair trade practices. In addition to training in the Code of Conduct, a global training on fair competition and anti-trust is assigned to selected target groups in the organization. 108DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Environmental disclosures
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Turnover1) Financial year 2025 2025 Substantial contribution criteria DNSH criteria (Does Not Significantly Harm) Minimum safeguards Proportion of T axonomy- aligned (A.1) or eligible (A.2) turnover, year 2024 Category (enabling activity) Category ( transitional activity) Economic activities Code Turnover Proportion of Turnover, year 2025 Climate change mitigation Climate change adaptation Water Pollution Circular economy Biodiveristy Climate change mitigation Climate change adaptation Water Pollution Circular economy Biodiveristy mSEK % Y; N; N/ EL Y; N; N/ EL Y; N; N/ EL Y; N; N/ EL Y; N; N/ EL Y; N; N/ EL Y/ N Y/ N Y/ N Y/ N Y/ N Y/ N Y/ N % E T A. TAXONOMY-ELIGIBLE ACTIVITIES A.1. Environmentally sustainable activities (T axonomy-aligned) Turnover of environmentally sustainable activities (T axonomy-aligned) (A.1) – – – – – – Of which Enabling – – – – – – Of which Transitional – – – – – – A.2 T axonomy-Eligible but not environmentally sustainable activities (not T axonomy-aligned activities) Manufacture of electrical and electronic equipment CE1.2 7 ,858 37 .3% N/EL N/EL N/EL N/EL EL N/EL 40.9% Sale of spare parts CE5.2 522 2.5% N/EL N/EL N/EL N/EL EL N/EL 4.7% Manufacture of renewable energy technologies CCM3.1 436 2.1% EL N/EL N/EL N/EL N/EL N/EL 2.3% Manufacture of batteries CCM3.4 254 1.2% EL N/EL N/EL N/EL N/EL N/EL 1.5% Manufacture of energy efficiency equipment for buildings CCM3.5 1,053 5.0% EL N/EL N/EL N/EL N/EL N/EL 2.2% Turnover of T axonomy-eligible but not environmentally sustainable activities (not T axonomy-aligned activities) (A.2) 10,123 48.1% 8.3% – – – 39.8% – 51.6% A. Turnover of T axonomy-eligible activities (A.1+A.2) 10,123 48.1% 8.3% – – – 39.8% – 51.7% B. TAXONOMY-NON-ELIGIBLE ACTIVITIES Turnover of T axonomy-non-eligible activities 10,919 51.9% 48.3% T otal 21,042 100% 100% 1) Proportion of turnover from products or services associated with T axonomy-aligned economic activities – disclosure covering year 2025 Proportion of Turnover/Total Turnover T axonomy-aligned per objective T axonomy-eligible per objective CCM 8.3% CCA WTR CE 39.8% PPC BIO 109DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Environmental disclosures
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CapEx2) Financial year 2025 2025 Substantial contribution criteria DNSH criteria (Does Not Significantly Harm) Minimum safeguards Proportion of T axonomy- aligned (A.1) or eligible (A.2) CapEx, year 2024 Category (enabling activity) Category ( transitional activity) Economic activities Code CapEx Proportion of CapEx, year 2025 Climate change mitigation Climate change adaptation Water Pollution Circular economy Biodiveristy Climate change mitigation Climate change adaptation Water Pollution Circular economy Biodiveristy mSEK % Y; N; N/ EL Y; N; N/ EL Y; N; N/ EL Y; N; N/ EL Y; N; N/ EL Y; N; N/ EL Y/ N Y/ N Y/ N Y/ N Y/ N Y/ N Y/ N % E T A. TAXONOMY-ELIGIBLE ACTIVITIES A.1. Environmentally sustainable activities (T axonomy-aligned) CapEx of environmentally sustainable activities (T axonomy-aligned) (A.1) – – – – – – Of which Enabling – – – – – – Of which Transitional – – – – – – A.2 T axonomy-eligible but not environmentally sustainable activities (not T axonomy-aligned activities) Manufacture of electrical and electronic equipment CE1.2 257 37 .3% N/EL N/EL N/EL N/EL EL N/EL 1.4% Renovation of existing buildlings CE3.2 0.2 0.0% N/EL N/EL N/EL N/EL EL N/EL 0.0% Sale of spare parts CE5.2 17 2.5% N/EL N/EL N/EL N/EL EL N/EL 0.0% Manufacture of renewable energy technologies CCM3.1 42 6.1% EL N/EL N/EL N/EL N/EL N/EL 0.2% Manufacture of batteries CCM3.4 8 1.2% EL N/EL N/EL N/EL N/EL N/EL 0.0% Manufacture of energy efficiency equipment for buildings CCM3.5 34 5.0% EL N/EL N/EL N/EL N/EL N/EL 0.9% Transport by motorbikes, passenger cars and light commercial vehicles CCM6.5 2 0.3% EL N/EL N/EL N/EL N/EL N/EL 0.3% Installation, maintenance, and repair of energy efficiency equipment CCM7 .3 7 1.0% EL N/EL N/EL N/EL N/EL N/EL 1.0% Installation, maintenance and repair of instruments and devices for measuring, regulation and controlling energy performance of buildings CCM7 .5 2 0.3% EL N/EL N/EL N/EL N/EL N/EL 0.3% Acquisition and ownership of buildings CCM7 .7 168 24.5% EL N/EL N/EL N/EL N/EL N/EL 0.0% CapEx of T axonomy-eligible but not environmentally sustainable activities (not T axonomy-aligned activities) (A.2) 538 78.2% 38.4% – – – 39.8% – 4.1% A. CapEx of T axonomy-eligible activities (A.1+A.2) 538 78.2% 38.4% – – – 39.8% – 4.1% B. TAXONOMY-NON-ELIGIBLE ACTIVITIES CapEx of T axonomy-non-eligible activities 149 21.8% 95.9% T otal 687 100% 100% 2) Proportion of CapEx from products or services associated with T axonomy-aligned economic activities – disclosure covering year 2025 Proportion of CapEx/Total CapEx T axonomy-aligned per objective T axonomy-eligible per objective CCM 38.4% CCA WTR CE 39.8% PPC BIO 110DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Environmental disclosures
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OpEx3) Financial year 2025 2025 Substantial contribution criteria DNSH criteria (Does Not Significantly Harm) Minimum safeguards Proportion of T axonomy- aligned (A.1) or eligible (A.2) OpEx, year 2024 Category (enabling activity) Category (transitional activity) Economic activities Code OpEx Proportion of OpEx, year 2025 Climate change mitigation Climate change adaptation Water Pollution Circular economy Biodiveristy Climate change mitigation Climate change adaptation Water Pollution Circular economy Biodiveristy mSEK % Y; N; N/ EL Y; N; N/ EL Y; N; N/ EL Y; N; N/ EL Y; N; N/ EL Y; N; N/ EL Y/ N Y/ N Y/ N Y/ N Y/ N Y/ N Y/ N % E T A. TAXONOMY-ELIGIBLE ACTIVITIES A.1. Environmentally sustainable activities (T axonomy-aligned) OpEx of environmentally sustainable activities (T axonomy-aligned) (A.1) – – – – – – Of which Enabling – – – – – – Of which Transitional – – – – – – A.2 T axonomy-eligible but not environmentally sustainable activities (not T axonomy-aligned activities) Manufacture of electrical and electronic equipment CE1.2 312 37 .3% N/EL N/EL N/EL N/EL EL N/EL 0.4% Sale of spare parts CE5.2 21 2.5% N/EL N/EL N/EL N/EL EL N/EL 0.0% Manufacture of renewable energy technologies CCM3.1 17 2.1% EL N/EL N/EL N/EL N/EL N/EL 0.0% Manufacture of batteries CCM3.4 10 1.2% EL N/EL N/EL N/EL N/EL N/EL 0.0% Manufacture of energy efficiency equipment for buildings CCM3.5 42 5.0% EL N/EL N/EL N/EL N/EL N/EL 0.2% OpEx of T axonomy-eligible but not environmentally sustainable activities (not T axonomy-aligned activities) (A.2) 403 48.1% 8.3% – – – 39.8% – 0.6% A. Turnover of T axonomy-eligible activities (A.1+A.2) 403 48.1% 8.3% – – – 39.8% – 0.6% B. TAXONOMY-NON-ELIGIBLE ACTIVITIES OpEx of T axonomy-non-eligible activities 434 51.9% 99.4% T otal 837 100% 100% 3) Proportion of OpEx from products or services associated with T axonomy-aligned economic activities – disclosure covering year 2025 Proportion of OpEx/Total OpEx T axonomy-aligned per objective T axonomy-eligible per objective CCM 8.3% CCA WTR CE 39.8% PPC BIO Nuclear and fossil-gas-related activities Row Nuclear energy related activities 1. The undertaking carries out, funds or has exposures to research, development, demonstration and deployment of innovative electricity generation facilities that produce energy from nuclear processes with minimal waste from the fuel cycle. NO 2. The undertaking carries out, funds or has exposures to construction and safe operation of new nuclear installations to produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production, as well as their safety upgrades, using best available technologies. NO 3. The undertaking carries out, funds or has exposures to safe operation of existing nuclear installations that produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production from nuclear energy , as well as their safety upgrades. NO Fossil gas related activities 4. The undertaking carries out, funds or has exposures to construction or operation of electricity generation facilities that produce electricity using fossil gaseous fuels. NO 5. The undertaking carries out, funds or has exposures to construction, refurbishment, and operation of combined heat/cool and power generation facilities using fossil gaseous fuels. NO 6. The undertaking carries out, funds or has exposures to construction, refurbishment and operation of heat generation facilities that produce heat/cool using fossil gaseous fuels. NO 111DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Environmental disclosures
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SOCIAL DISCLOSURES The social section covering S1 focuses on Dometic’ s own workforce, including working conditions, equal treatment and opportunities, and impacts on workers’ health, safety and well-being. It describes how Dometic identifies and manages material social impacts, risks and opportunities related to employees and other workers, and reports on progress through relevant metrics and targets. ESRS S1 Own workforce 113 DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATEMENTS 112
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Strategy SBM-3 Material IROs and their interaction with strategy and business model For information about the material IROs related to Dometic’ s own workforce, and their interaction with the company’ s strategy and business model, refer to ESRS 2 SBM-3 on page 75. Dometic’ s own workforce who could be materially impacted and are included in the scope of disclosure under ESRS 2 comprise: 1. Employees on Dometic’ s payroll • Regular employees: Individuals employed under an employment agreement, including those on probation or approved leave. • Seasonal, temporary , and interns: Staff engaged for limited periods to meet short-term needs. 2. Individuals engaged through business relationships (not on payroll) • Interim/Contractors: Individuals contracted via agencies or their own companies for short-term assignments. • Consultants: Professionals providing expertise for specific projects under service contracts. All regions where Dometic operates and employs or engages workforce under the categories listed above are included in the coverage. Material impacts relate to production line workers and distribution center workers, who include both employees of Dometic and workers contracted through third-party employment or staffing agencies. Material impacts also apply to office-based personnel, consisting of both employ- ees of Dometic and consultants working either as self-em- ployed individuals or through consultancy agencies. These groups were identified due to exposure to occupational health and safety risks and other risks related to working conditions. Where Dometic identifies material negative impacts on its own workforce, these may be widespread or systemic in the contexts where Dometics operates – including both within and outside the EU. For example, psychosocial risks such as work-related stress are recognised as widespread across many EU labor markets. Material negative impacts may also arise as individual occurrences, such as reported cases of discrimination or harassment through the Speak Up line, or specific occupational safety incidents across regions. Material risks for Dometic arising from its own workforce include increased absenteeism, turnover of production and distribution center workers, legal liabilities, fines, reputational harm, non-compliance, employee disengage- ment, and external scrutiny . Material opportunities include enhanced responsible-employer reputation, improved talent attraction and retention, reduced costs linked to incidents, and increased employee engagement. Dometic has not conducted a formal assessment of potential impacts of its transition plans for reducing environmental impacts and achieving climate-neutral operations on its own workforce. However, given the nature of Dometic’ s business and the skills of its workforce, material impacts are considered unlikely . Dometic will evaluate this topic in more detail as part of the next DMA cycle to confirm whether any material risks or opportunities exist. Dometic’ s Code of Conduct and related policies provide clear guidance prohibiting child labor and forced labor, and workforce training is conducted to ensure awareness of and compliance with these standards. A high-level human rights risk assessment at the segment level did not identify high risks of child labor or forced labor in Dometic’ s own operations. No specific types of operations or geographic areas were identified as being at significant risk. As part of the materiality assessment under ESRS 2 IRO 1, and the high-level human rights risk assessment at the segment level, Dometic has considered certain groups within its own workforce that could be at greater risk of harm based on their characteristics, work context, or activities. While no significant risks were identified, the following contexts were reviewed: • T emporary and seasonal employees engaged during peak periods. • Individuals engaged through business relationships (contractors and interim workers), who may operate under different contractual frameworks. • Migrant workers, particularly those engaged through agencies or in regions with weaker labor protections, who may face vulnerabilities related to documentation and language barriers. Impact, risk and opportunity management S1-1 Policies related to own workforce For an overview of the policies related to Dometic’ s own workforce, including details on the governance and imple- mentation of these policies, refer to section ESRS 2 GOV-2 on page 68. Dometic has developed a comprehensive set of work- force policies to responsibly manage the material IROs of its own employees and contractors across all operations. All Dometic policies are available via the Group’ s intranet. These policies ensure that material workforce IROs are identified, assessed, managed, and, where necessary , remediated. The policies cover material areas, such as health and safety , human rights, employee well-being, equal treatment, and inclusion. Together, the Code of Conduct, the Diver- sity , Equity and Inclusion (DEI) policy , the Health & Safety Guidelines and the Human Rights Due Diligence (HRDD) procedures form a coherent framework for fostering safe, fair, and dignified working conditions across all segments and geographies. As part of Dometic has a decentralized governance approach, segment and local-level steering documents, including workplace handbooks and anti-har- assment guidelines, complement the framework by address- ing local regulatory requirements and cultural contexts. The policies are guided and based on international standards, including the UN Global Compact, UN Guiding Principles on Business and Human Rights, ILO Conventions, and OECD Guidelines for Multinational Enterprises. They also comply with evolving EU and national regulatory requirements, the Corporate Sustainability Due Diligence Directive (CSDDD), and the Modern Slavery Acts in Australia and Canada. Dometic’ s workforce policies, outlined below, apply to all operational activities, including manufacturing, logistics, T able 16. Material sustainability matters and their related IROs Sustainability matters Value chain Impact Risk/ Opportunity Time horizon S1: Health & safety Own operations Negative impact Risk and opportunity Short/medium/long S1: Human rights Own operations Negative impact Risk Short/medium ESRS S1 Own workforce 113DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Social disclosures
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office functions, HR, and leadership, and cover the compa- ny’ s global own workforce of employees, contractors, and temporary workers. The policies apply to all Dometic sites and business segments worldwide, with implementation adapted to meet specific requirements at the local level or for each segment. Key stakeholders include employees, contractors, segment HR teams, and local management. Information about senior-level accountability for all S1 pol- icies and steering documents, refer to the ESRS 2 GOV-2 on page 68. The Code of Conduct and DEI Policy are approved by the Board, with implementation accountability assigned to the EVP Group HR and EVP Group Operations & Sustain- ability . Health & Safety Guidelines and HRDD procedures are overseen by the EVP Group Operations & Sustainability and the Group Ethics Committee, with implementation accountability also resting with the EVP Group HR and EVP Group Operations & Sustainability . All policies are adopted at Group level and implemented across segments and geographies. Accountability for implementation at Segment level rests with Segment Presidents and their leadership teams, supported by relevant Group functions for oversight and guidance. Mandatory training, site-specific programs, contractor briefings, workshops, posters, and ongoing com- munication campaigns support awareness of the policies. While Dometic’ s workforce policies are primarily devel- oped and adopted at the Group level and aligned with international standards, the interests of key stakeholders are considered during implementation and review. This con- sideration takes place through local HR and management consultations during policy roll-out and updates, including revisions to the Code of Conduct and related training materials, as well as through employee engagement surveys and site-level dialogue. Feedback from these interactions informs adjustments to implementation practices, such as health and safety programs and regional anti-harassment guidelines, and helps refine training content, communica- tion campaigns, and local steering documents, ensuring that policies remain relevant and effective across segments and geographies. In addition, Dometic considers customer input regarding expectations for the content of the Code of Conduct to ensure alignment with their own standards and requirements, further strengthening the policy framework. Dometic is committed to engaging with its own work- force on human rights and other social material issues as part of its overall workforce-related policy framework. Engage- ment takes place through the biennial Global Employee Survey , HRDD procedures, and regular regional or local interactions, supporting workforce practices that remain responsive and inclusive. Code of Conduct Dometic’ s Code of Conduct, available in English and Swed- ish on the Dometic Group website, sets out the company’ s ethical standards and expectations regarding human rights, labor rights, workplace safety , equal opportunity , and responsible employment practices. For internal accessibility , the Code is provided in ten additional languages on the Dometic intranet. The Code of Conduct explicitly prohibits discrimination and harassment, including gender, ethnicity , skin color, age, sexual orientation, religion, nationality , disability and preg- nancy or family responsibilities. It also forbids child labor, forced labor, and human trafficking, while affirming the rights to freedom of association and collective bargaining. Embedded principles include equal treatment, anti-harass- ment, privacy , and whistleblower protection. Compliance is overseen by the Group Ethics Committee. The Code of Conduct is monitored through the SpeakUp Line, an independent third-party service that provides a con- fidential channel for reporting concerns, as well as through case reviews and internal audits. The Code of Conduct is communicated to employees through employment agreements, onboarding sessions, multilingual training modules, and site posters. Mandatory training for all workforce is required every two years and reinforced through awareness campaigns and regular communication across the intranet and other workplace channels. Diversity , Equity and Inclusion (DEI) Policy The DEI Policy promotes equal opportunity , mitigates bias, and supports the creation of an inclusive workplace culture. It addresses impacts and risks such as discrimination, unequal treatment, lack of career development, and skill stagnation. The policy includes clear inclusion objectives, bias-mitigation training, leadership engagement, and segment-level action plans tailored to local contexts. DEI initiatives focus on building diverse leadership pipelines, increasing female representation in management, enhanc- ing inclusion metrics, and integrating DEI considerations into HR processes, including recruitment, performance reviews, and succession planning. Progress is monitored through engagement surveys and workforce analysis, ensuring con- tinuous improvement and accountability across all business segments. EVP HR oversees Group-wide coordination of DEI efforts, ensuring alignment and consistent implementation across all regions. Health & Safety (H&S) Guidelines Dometic’ s H&S Guidelines are designed to prevent work- place harm, strengthen compliance with international and national safety standards, and promote a proactive safety culture across all sites. They address workforce-related impacts and risks such as workplace accidents, psychosocial stress, burnout, and breaches of employment agreements. Core elements include systematic risk assessments, man- datory safety training for all employees and contractors, provision of personal protective equipment, emergency preparedness, and psychosocial risk management. The H&S Guideline provides a formal framework that establishes clear expectations for safe and healthy working conditions across all sites. It sets consistent standards and criteria to guide actions across regions and functions, ensuring the prevention of workplace accidents and health and safety incidents. The guideline defines processes to identify and manage material health and safety impacts and risks throughout the organization. Complementing this, the Loss Prevention Guideline offers additional directives on site safety and security . Together, these guidelines strengthen the Group’ s H&S programs by reducing risks, enabling compliance, and maintaining high safety standards. Implementation is supported by factory managers, safety officers, EHS committees, and other senior and local management at each site. Performance is continuously mon- itored through the AARO reporting system, regular audits, incident investigations, and key indicators, such as the LTIFR. Insights from site-level safety reviews and employee feed- back mechanisms are used to update and strengthen the guidelines over time. The H&S Guidelines form a foundation for delivering safe and compliant working environments across Dometic’ s operations. 114DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Social disclosures
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Human Rights Due Diligence (HRDD) Procedures Dometic’ s HRDD Procedures establish a structured approach for identifying, preventing, mitigating, and remediating human rights risks across its operations. The framework focuses particularly on risks related to discrimina- tion, harassment, unequal treatment, labor rights violations, and breach of employment agreement. The HRDD Procedures apply across all Dometic’ s opera- tions and are grounded in international standards, including the UN Guiding Principles on Business and Human Rights, ILO Conventions, and OECD Guidelines. The procedure supports Dometic in monitoring and assessing its alignment and compliance with these frameworks when developing and updating workforce-related policies, procedures, and guidelines. This steering document sets out clear processes to prevent, mitigate, and act upon identified adverse impacts, including discrimination, and provides guidance for appropriate remediation when incidents occur. In addition, the HRDD Procedures contribute to advancing diversity and inclusion across the Group by embedding bias-mitigation, equal-treatment principles, and proactive risk identification into employee and management practices. Continuous monitoring, including analysis of SpeakUp cases, human rights assessments, site audits, and materiality findings, ensures that the HRDD procedure remains relevant and effective. The HRDD incorporates stakeholder engagement through workshops, surveys, and local assessments designed to highlight the human rights risks and concerns of employees, including vulnerable groups. It encourages inclusions and positive actions for at-risk and vulnerable groups within its own workforce. It outlines clear escalation processes, remediation action procedures, and governance structures to ensure accountability , thereby addressing adverse impacts appropriately . Oversight rests with the Ethics Committee. Dometic’ s DMA identified work-life balance, flexible work arrangements and psychosocial well-being as material topics. While current practices exist, no formal Group-wide policy has yet been adopted for these matters. Dometic plans to develop and adopt a dedicated steering document within the next two years. S1-2 Engaging with own workers and workers’ representatives about impacts Dometic engages with its workforce through a combination of direct and representative channels to ensure that employ- ees’ perspectives inform the company’ s management of actual and potential impacts on its workforce. Engagement practices depend on local practices and legal requirements. This includes both direct dialogues, such as the Global Employee Survey , town halls, and open forums, as well as indirect representation through unions, works councils, and employee committees, where applicable. The Global Employee Survey , conducted every two years across the whole company , is a key mechanism for gathering feedback on employee experience, engagement, and workplace conditions. Its primary purpose is to identify strengths and areas for improvement in how Dometic supports its workforce, enabling the company to address risks and opportunities related to employee well-being, inclusion, and development. Insights from the survey are systematically analyzed and used to influence policies and guidelines, programs, and actions that impact employees, ensuring that workforce perspectives are consistently reflected in decisions across Dometic’ s global operations. These approaches ensure that workforce perspectives are consistently integrated into decisions that affect the work- force across Dometic’ s global operations. Workforce engagement occurs continuously and at multiple stages throughout the year, embedded in strategic processes and risk-management frameworks. During the DMA, employees were identified as one of the five prioritized stakeholder groups and contributed through questionnaires and interviews assessing IROs. The Global Employee Survey , covering the entire Group, with the most recently achieving a 88% participation rate in 2025, pro- vides structured feedback on workplace culture, leadership, and safety . Additional engagement takes place through the HRDD, and Health & Safety Risk Assessments, where employees participate in confidential validation workshops and site-level reviews. Ongoing engagement is also carried out through DEI and H&S programs, such as toolbox talks, emergency drill feedback sessions, and local risk-mitiga- tion projects. Engagement frequency is continuous, with structured activities both regular and ad hoc, aligned with business cycles, risk assessments, and change-management initiatives. Responsibility for ensuring meaningful workforce engagement lies with the Human Resources function, led by the EVP and Head of Group HR, who has operational responsibility for ensuring engagement occurs and that results inform the company’ s approach. Segment Heads of HR and local management support implementation and follow-up actions. Results from engagement processes are validated by Group Management to ensure workforce perspectives shape policy and management responses. Heads of HR, Operations, and Health & Safety were also directly involved in the 2024 Human Rights Risk Assessment. The Ethics Committee provides oversight, monitors griev- ance mechanisms. While Dometic does not have a Global Framework Agreement, it maintains strong collaboration with local workers’ representatives, such as engagement through unions, works councils, and employee committees, which enables understanding of workforce perspectives. Respect for human rights is embedded in Dometic’ s Code of Con- duct, which applies to all employees and business partners and is complemented by the company’ s SpeakUp Line and grievance mechanisms that uphold ethical conduct across all own workforce. Dometic assesses the effectiveness of its workforce-en- gagement processes through a combination of quantitative and qualitative measures. This includes analyzing participa- tion levels and satisfaction results from engagement surveys. The Global Employee Engagement Survey conducted in 2025 will be followed by a set of structured workshops to identify improvement areas. Effectiveness is further evalu- ated through relevant sustainability indicators linked to work- force well-being and representation. These include group- and segment-level DEI indicators, such as the proportion of female managers, as well as health and safety metrics, including LTIFR performance, incident reporting across all offices and sites, and the progress of corrective action plans per segment and locally on every site. Outcomes of engagement activities have led to updates to company guidelines, development of new training programs through Dometic Academy , segment-specific DEI initiatives, and improvements in workplace safety management, such as LTIFR tracking and corrective-action planning. To better understand and respond to the needs of potentially vulnerable or marginalized groups within the workforce, Dometic integrates inclusion and bias-mitigation principles into its Global Employee survey , DEI Policy and HRDD processes. Segment-level DEI plans to address gender equality and local context. The HRDD procedures are at an early stage. Over the next three years, Dometic will develop and formalize these procedures to ensure system- atic engagement with workers who may be particularly vulnerable or marginalized to identify and mitigate human right risks. This will include defining the methods for gaining their perspectives, establishing safeguards for safe partici- pation, and integrating these insights into Dometic’ s human rights risk assessments and mitigation plans. Dometic implements practical measures to reduce barriers and promote equal opportunities for employees 115DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Social disclosures
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who may be more susceptible to physical strain or ergo- nomic risks. These measures include upgrading machinery and implementing job-rotation schedules to reduce repet- itive strain and distribute physically demanding tasks, and setting measurable diversity targets, such as maintaining 30% female managers by 2026. In addition, confidential engagement channels, such as employee surveys, ensure that all workforce members, including those in vulnerable situations, can safely and anonymously share their perspec- tives. Grievance mechanisms, including the SpeakUp Line, are available to report concerns related to human rights or ethical conduct in several languages, ensuring accessibility for employees who may face language barriers. S1-3 Processes to remediate negative impacts and channels to raise concerns Dometic has established clear processes to identify , address, and remediate negative impacts on its workforce. These processes are grounded in the Code of Conduct, which sets out the company’ s responsibility to respect human rights, uphold fair labor practices, and maintain safe working conditions across all operations. When a material negative impact occurs – such as a workplace safety incident, breach of conduct, or human rights concern – the issue is investigated through internal channels managed by Human Resources and the Ethics Committee. Corrective actions may include remediation plans, policy updates, and, where necessary , disciplinary measures. Effectiveness is assessed through indicators such as LTIFR, SpeakUp case resolution rates, and follow-up reviews to confirm recurrence prevention. To enable concerns to be raised safely , Dometic provides multiple channels available to all workforce, including the multilingual SpeakUp Line, operated by an independent third-party provider to ensure confidentiality . Employees and contractors can also use works councils, unions, and employee committees where applicable, as well as workshops, surveys, and dialogue sessions with Human Resources. The Code of Conduct explicitly prohibits retaliation against anyone who raises concerns in good faith, including workers’ representatives. This commitment is supported by non-retaliation clauses, strict confidentiality of reporter identity , and oversight by the Ethics Committee to uphold compliance. The grievance and complaints-handling mechanism covers all employee-related matters and is supported by structured governance, mandatory training, and regular communication. Information on reporting channels is communicated via the intranet, workplace posters, team meetings, and workshops such as the Human Rights ses- sions held in 2024. Mandatory Code of Conduct training, reinforced during onboarding and conducted every two years, includes SpeakUp guidance and real-life case studies to strengthen awareness and reporting confidence. Cases reported through the SpeakUp Line are logged, tracked, and escalated to the Ethics Committee for over- sight. A remediation protocol for substantiated cases is defined within HRDD procedures, and all cases, whether reported via SpeakUp, management, or HR, are to be resolved. The Ethics Committee reviews timelines and out- comes to ensure compliance. Effectiveness of the grievance mechanism is evaluated through resolution rates, recurrence monitoring, and validation surveys, including the biennial employee engagement survey . S1-4 T aking action The design, improvement, and evaluation of actions taken on impacts on own workforce, approaches to mitigating risks and pursuing opportunities related to own work- force are informed by insights from the global employee engagement survey , complemented by findings from other processes such as risk assessments, training evaluations, and additional workforce feedback mechanisms. Current resources allocated to the workforce-related action plan primarily consist of internal human resources, including dedicated personnel responsible for implementing health and safety , diversity and inclusion initiatives, and operational budgets embedded within site-level planning. These resources support activities such as training, awareness programs, and inclusive recruitment practices. The ability to implement the action plan does not depend on external financial support or public policy development; it is funded through internal budgets. Dometic does not currently track or disclose a consolidated amount of financial resources allocated specifically to workforce-related actions at the Group level. Occupational Health and Safety Dometic continues to take structured and systematic action to prevent and mitigate material negative impacts on its workforce’ s health and safety , guided by its H&S Guideline and Loss Prevention Guideline (DLPG), and anchored in robust management systems and internationally recognized standards. Developed in 2022 and implemented across all Dometic sites and employees globally , the H&S Guideline serves as the foundation for health and safety practices. The guideline was reviewed in 2025, with a formal update scheduled for 2026, ensuring alignment with evolving operational and regulatory requirements. These actions build on the progress and commitments reported in 2024, demonstrating continuity and ongoing improvement in Dometic’ s approach to occupational health and safety . All actions described form part of the Group-wide Health & Safety program, which is implemented across all regional segments and geographies. The examples from the regional segments presented below are non exhaustive and illustrate how the Group-wide Health & Safety program is implemented. Occupational health and safety management system standards, such as ISO 45001, together with the Layered Safety Audit process, remain central to Dometic’ s H&S program. In 2025, Dometic prioritized actions within the Marine segment due to its previous weaker performance and the significant negative impact on overall Group safety metrics. ISO 45001 certification efforts increased within the Marine segment in 2025, with 9 out of 11 sites scheduled to complete certification by year-end and the remaining two planned for 2026, thereby expanding coverage and ensuring alignment with international standards. The Layered Safety Audit process was implemented at 10 of 11 Marine sites during 2025, resulting in 1,881 audits and 1,180 corrective actions between April and November, and generating over 1,000 contact hours between management and workers. These actions specifically cover the Marine segment and are part of a multi-year improvement plan that builds on progress reported in 2024. Across all segments, risk assessments were updated and followed at every location in 2025, with over 1,000 risk observations logged in the Land Vehicle EMEA segment, demonstrating proac- tive prevention and continuity of risk management practices throughout the organization. To support positive workforce outcomes, Dometic implemented targeted safety training and engagement initiatives in 2025, building on the foundation established in 2024. In the Land Vehicle EMEA segment, over 400 employ- ees participated in self-developed safe driving modules, contributing to a record-low LTIFR of 0.7 for overall Group result. Across the Marine segment, comprehensive safety training – including first aid, chemical handling, fire safety , forklift operation, and emergency response – was delivered at multiple sites, with safety leadership training implemented at key locations. Emergency preparedness was reinforced through the execution of fire, chemical leakage, and confined space rescue drills at select sites. Ergonomic assessments and workstation adjustments were conducted at specific facilities to address office safety and health, while contractor and visitor safety was enhanced through updated procedures and targeted instruction. The EHS Toolbox T alk 116DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Social disclosures
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initiative continued in 2025, keeping team members alert to potential hazards and strengthening communication across on-site teams. Moreover, the Group strengthened its approach to risk identification, mitigation, and elimination by reinforcing local procedures in alignment with the H&S Guideline. A notable example comes from the Land Vehicles EMEA segment, which launched a Hand Injury Reduction Program which defines on-site risk mitigation projects, including improvements to machine guarding, awareness activities, and inspections. The effectiveness of these actions was monitored through regular audits, incident investigations, and incident metrics including the LTIFR. In 2025, Dometic achieved a 56% reduction in the LTIFR compared to 2024. In the event of incidents, remedies included medical treatment, retraining, equipment modifications, and return-to-work plans involv- ing HR and union representatives. Root-cause analysis was systematically applied, with corrective actions implemented and tracked. Actions implemented and to be implemented are identi- fied through established processes such as health and safety inspections, site audits, safety walks, risk and hazard iden- tification processes, root cause analysis, and investigation into accidents. Findings from these processes determine the type, scope, and prioritization of the actions. Employee Well-being Dometic implemented various actions to strengthen employee health and well-being across its operations. Well-being actions are decentralized and implemented by regional HR teams across all segments, with the examples below illustrating non-exhaustive initiatives taken during the 2025 reporting period. The Mobile Cooling Wellness Activ- ity Program was expanded to provide access to all employ- ees, increasing capacity from 500 to 2,000 participants at no additional cost and generating estimated annual savings of approximately SEK 160,900 (USD 16,400). In addition, rate pass agreements were secured for virtual yoga and meditation sessions, enabling all L VA and Marine employees to participate without incurring additional costs, thereby supporting mental health and reducing stress. Moreover, On-site wellness activities were successfully hosted at the Katy location, achieving record-high participation among operations employees, and establishing a new benchmark for engagement. These initiatives demonstrate Dometic’ s commitment to fostering a culture of health and well-being and improving inclusivity while laying the foundation for future wellness programs across all sites. These actions build on well being activities implemented in 2024 and form part of an ongoing, multi year effort to broaden access to well being support across additional sites and regions. Diversity , Equity and Inclusion Dometic’ s approach to DE&I is guided by a global structure with dedicated teams in each segment, ensuring continuous focus on building a diverse workforce and an inclusive working environment. DE&I actions are implemented across all of Dometic’ s own workforce globally , with the segment-specific examples below serving as non-exhaustive illustrations of how these actions are executed in different regions and workforce groups, including underrepresented and vulnerable groups such as women and employees at higher risk of discrimination. The company implemented several key actions, including a global DE&I training initiative to strengthen awareness and foster an inclusive mindset across the organization. These actions are designed to mitigate the risk of discrimination, strengthen fair hiring practices, support equal opportunities, and contribute to a positive environment on workplace inclusion. They are developed in accordance with the DE&I policy and Code of Conduct objectives, as well as with guidance from the HRDD Procedure. The internal job market portal provides transparent access to all open positions, supporting equitable hiring practices. Furthermore, the launch of the Global Career site in 2024 enhanced recruitment quality , efficiency and GDPR compli- ance. DE&I training and transparent recruitment processes help to prevent negative impacts by raising awareness of bias and ensuring equitable access to roles. Dometic’ s DE&I work also supports opportunities in talent attraction, leadership development, and employer branding, particu- larly through initiatives that empower underrepresented and vulnerable groups. Dedicated efforts to strengthen gender diversity also continued, reflected in the increase in the percentage of female managers from 30% in 2024 to 31% in 2025, demonstrating the effectiveness of the actions. Dometic has, in addition, launched initiatives in areas with relatively lower representation of women, such as the implementation of the pilot network Women in Operations. These actions cover the company’ s global operations and apply to all employ- ees, including underrepresented and vulnerable groups. Progress is monitored through representation indicators, including the share of women in management (3 of 11 women) and the Board of Directors (3 of 8 women), which serve as key measures of effectiveness. The Company will continue to advance its DE&I initiatives, drawing on insights from the global employee engagement survey to guide future priorities and actions. Training and Skill Development Training and development are the core components of Dometic’ s organizational capability and are essential to supporting employees throughout the company’ s growth journey . The global and regional segment-level examples below represent non-exhaustive illustrations of how Dometic addresses material impacts and risks related to workforce competence, safety-critical skills, and equal access to learning and development opportunities. Training and development actions are coordinated through Dometic Academy under a central global framework, while regional segments with support from some global functions design and implement programs that address local capabil- ity needs. Training opportunities are available to Dometic’ s entire own workforce globally . Dometic Academy functions as the company’ s central learning management system, offering global access to structured training opportunities that support both strategic deployment and personal development. In 2024, Dometic strengthened its learning infrastructure by implementing a new global learning plat- form to enhance accessibility and knowledge sharing across all segments. In 2025, employees participated in 5,412 (6,039) training activities across 1,666 (1,772) sessions on Dometic Academy , demonstrating a strong commitment to continuous learning and skills development. These actions contribute directly to the organization’ s training and devel- opment objectives by ensuring employees gain the knowl- edge and capabilities necessary to meet business needs. Leadership development is also a priority to ensure that leaders are equipped to guide the company through the transition. Dometic’ s leadership model, built on driving performance, inspiring engagement and leading change, provides a framework to support ethical and effective leadership behavior. Furthermore, the Group launched a global Executive Development program to build agile leadership capabilities and introduced the ELEVATE Leader- ship program as the second phase in its leadership develop- ment series. Leadership development efforts will continue throughout 2026 to further strengthen the leadership pipeline, guided by insights from the 2025 global employee engagement survey . Additional Health & Safety and operational training were also delivered across Dometic to reinforce safe working practices. These actions help mitigate risks associated with competence and ensure employees have the skills needed for responsible decision-making. The effectiveness of the 117DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Social disclosures
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training programs is assessed through training completion rate, and dialogue with stakeholders. Overall, training and development initiatives cover the global workforce and directly support the company’ s ability to maintain and enhance critical competencies. Dometic’ s actions on Health & Safety and DE&I directly address the material negative impacts and risks identified in the DMA. Occupational Health and Safety actions mitigate physical injury risks and operational disruptions, while DE&I and human rights actions mitigate risks related to discrimination, equality , and worker well-being. Training, leadership development and human rights risk assessments provide systematic mitigation aligned with the material IROs. Progress in the metrics, including the reduction in LTIFR and the increase in the share of female managers, demonstrates the effectiveness of these actions and advancement toward the targets. Remedy for actual impacts During the reporting period, Dometic applied remedies for incidents affecting its workforce, including medical treat- ment, retraining, equipment modifications, and structured return-to-work plans in cooperation with HR and union representatives. These actions were implemented following the H&S Guideline. No material adverse impacts requiring financial compensation were identified. Where applicable, corrective actions and root-cause analysis were systemati- cally applied and tracked to prevent recurrence. Dometic takes steps to ensure that its own practices do not cause or contribute to material negative impacts on its workforce. Expectations for safe and responsible conduct are established through the Health & Safety Guideline, the HRDD Procedure, the DEI Policy and the Code of Conduct, which set requirements for fair treatment, non discrimina- tion and safe working conditions across the organisation. Dometic also applies GDPR based controls to safeguard workforce data, with restricted access to HR and learning systems to prevent misuse of personal information. When business pressures, operational timelines or commercial objectives create tension with health, safety or human rights considerations, Dometic’ s governance framework requires escalation and the prioritisation of workforce well being. Managers, HR and Health & Safety functions are expected to adjust or halt activities if they could compromise safe or responsible working conditions. Metrics and targets S1-5 T argets related to managing material IROs Dometic sets measurable, time-bound targets to strengthen safety , diversity , equity and inclusion of its global workforce. These targets are aligned with the company’ s core work- force policies, including the Code of Conduct, the Diversity , Equity and Inclusion (DEI) Policy and the Health & Safety Guidelines. They are designed to reduce negative impacts on employees, advance positive outcomes, and manage material workforce-related risks. All targets apply across Dometic’ s global operations and focus on the company’ s own workforce. All workforce-related targets disclosed in this section are annual targets designed to drive continuous improvement across Dometic’ s global operations. For the purpose of comparability and transparency , results for 2024 and 2023 are presented, thus the base year for reporting progress is 2023. Dometic engages internal stakeholders responsible for key programs, including health and safety training, injury-prevention initiatives, ISO 45001 implementation to identify needs and priorities. Through a structured dialogue between Group functions and segment stakeholders, the organization aligns on measurable, time-bound targets on Health and Safety . These targets are incorporated in the annual budget and operational plans, ensuring clear accountability and consistency across the Group. The restatement to include acquisitions in the health and safety target maintains comparability over time. No other changes to target definitions or methodologies were made during the reporting period. Feedback from employees collected through engagement surveys and local dialogues is used to identify lessons learned and to refine future H&S and DEI targets and action plans. T able 17 presents the Health and Safety and Diversity , Equity and Inclusion (DEI) targets. It includes baseline values for 2023 and target years of 2026 and 2030. The Lost Time Injury Frequency Rate (LTIFR) is a health and safety metric, defined as the number of lost time injuries per million hours worked. The target for the percentage of female managers is based on the gender distribution at top management level, measured in headcount, as described in the metric sections below. Further details on metric definitions and calculation methodologies are provided in the accounting principles sections. Health & Safety Dometic has set a target to reduce its LTIFR to below 1.5 by 2025, below 1.0 by 2026, and below 1.0 by 2030. These targets apply for the periods 2024–2025, 2025–2026, and 2027–2030 respectively reflecting the company’ s commit- ment to preventing workplace accidents and improving employee well-being. This target applies across all manufac- turing, logistics, and offices globally . Health and Safety performance is supported by external audits and structured action plans aimed at improving audit ratings. Internally , Operational Reviews require all segments to present detailed action plans to meet and, where pos- sible, exceed established targets. Progress is monitored through periodic reviews and corrective measures are implemented where gaps are identified. Performance in 2025 shows an improvement in health and safety outcomes, with an LTIFR of 0.7 , compared to 1.6 in the prior year and the 2023 baseline of 1.5. The 2025 result meets the 2025 target of below 1.5 and represents progress toward the targets of below 1.0 by 2026 and below 1.0 by 2030. Ongoing prevention initiatives are expected to drive further reductions toward the 2030 target. Note that acquisitions are included in the metric at the beginning of 2025, and the 2024 and 2023 figures have been restated accordingly . Performance in 2025 demonstrates progress against the 2023 baseline and DEI targets, with the share of female managers reaching 31%, compared to the 2023 baseline of 29% and meeting the 2025 target of 30%. The result also reflects progress toward the 2026 and 2030 targets, which are both set at 30%. 118DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Social disclosures
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Diversity , Equity and Inclusion To advance positive outcomes for its workforce, Dometic targets a 30% share of female managers by 2025, 2026, and 2030. These targets apply for the periods 2024–2025, 2025–2026, and 2027–2030 respectively . The target-setting process involves internal stakeholder engagement, primarily through the Group Human Resources function. The Group Head of HR leads the development of this target in collaboration with segment HR heads and relevant HR teams across Dometic Group. This process takes place as part of the annual strategic planning and budgeting cycle and is informed by workforce data, gender representation trends, business needs, and regional labor market conditions. Input from management teams and HR representatives ensures that targets are realistic, aligned with operational capacity , and responsive to workforce-re- lated risks and opportunities, including equal opportunity and talent retention. The proposed targets are reviewed and endorsed by senior management prior to implementation. This target supports the company’ s strategic objectives to promote equal opportunity , strengthen diversity in leader- ship, and mitigate bias across its global operations. Results for 2025 show that female manager representation has reached 31% (29%), placing the company on track to meet its 2030 target. The effectiveness of the DEI targets is assessed through employee survey insights, follow-up on human rights mitiga- tion actions, and the review and resolution of cases reported via the Whistleblowing system. S1-6 Characteristics of Dometic’ s employees This section provides an overview of the composition of the company’ s workforce, offering transparency on key characteristics that support social sustainability analysis. The disclosures include information on employee headcount by gender, by country . These metrics help stakeholders understand workforce structure, stability , and equality , and how the organization manages its social impacts. The table 18 shows the workforce distribution by gender, providing transparency on representation and supporting diversity monitoring. At the moment, Dometic does not report genders other than Male or Female on the Group level. However, Dometic will be exploring the possibility of including other genders in the reporting process for 2026. The total headcount has continued to decrease in 2025, mainly due to restructuring programs and site closures. T able 18. Employee headcount by gender (in Note 9) Gender 2024 2025 Male 4,837 4,581 Female 2,721 2,583 Other – – Not reported – – Total employees 7, 5 5 8 7,1 6 4 Employee headcount by country is presented in T able 19 for Dometic locations with at least 1 employee, representing at least 10% of the company’ s total workforce. T able 17 . Health and Safety and DE&I targets 2026 and 2030 Metric Baseline Year 2023 2026 Target 2030 Target Lost Time Injury Frequency Rate 1.5 <1.0 <1.0 Percent female manager 29% 30% 30% T able 19. Employee headcount by country (in Note 9) Country 2024 2025 Australia 187 176 Austria 4 3 Belgium 3 3 Canada 500 464 China 1,250 1,123 Denmark 13 12 Finland 5 5 France 51 50 Germany 886 840 Hong Kong 63 55 Hungary 375 315 Italy 151 155 Japan 16 16 Korea 7 5 Mexico 289 304 Netherlands 55 52 New Zealand 11 11 Norway 9 8 Poland 22 20 Portugal 0 1 Russia 2 1 Singapore 6 6 Slovakia 160 138 South Africa 321 289 Spain 21 21 Sweden 320 311 Switzerland 3 3 United Arab Emirates 13 12 United Kingdom 186 180 United States 2,630 2,576 Group Total 7, 5 5 8 7,1 6 4 119DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Social disclosures
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T able 20. Employee distribution by contract type and gender*, 2025 Type Male Female Not disclosed Total Employees (total) 4,581 2,583 – 7,164 Permanent employees 4,315 2,433 – 6,748 Temporary employees 266 150 – 416 Non-guaranteed hours employees** – – – – * Gender as specified by the employees themselves.**No data available. The number of permanent employees is defined as the employees employed by Dometic (or any of our affiliated companies) and who may be on an employment letter of offer of employment or employment contract. Regular also includes probation period and employees who are on company-approved leave, for example parental leave or an approved sabbatical. T emporary employees are considered to be both interim/contractor employees and seasonal employees. An interim/contractor is engaged through an external agency or their own company under a service contract to fill a role at Dometic on a short-term basis, such as covering employee absences or supporting peak workloads. A temporary or seasonal employee, on the other hand, is directly employed by Dometic and on our payroll for a limited period under an employment agreement (e.g., temporary staff, seasonal workers, interns, or apprentices) to meet short-term staffing needs. As such, the number of employees is the sum of the total number of permanent employees and number of temporary employees. T able 21. Workforce distribution by contract type and region Type Americas EMEA APAC Total Employees (total) 3,480 2,327 1,357 7,164 Permanent employees 3,106 2,291 1,351 6,748 Temporary employees 374 36 6 416 Non-guaranteed hours employees – – – – T able 22. Employee turnover 2025 Average number of employees, Dometic Group 7,164 Employees who had left the company as of December 31, 2025 1723 Turnover rate as a percentage 24% The rate of employee turnover according to the ESRS defini- tion – the proportion of employees who left the company in 2025 – amounted to 24% globally . Employee turnover is mainly due to restructuring pro- grams and site closures in 2025. Accounting principles The number of employees is counted at the last day of the reporting period. The average headcount is calculated of the average according to the headcount of the last day of each quarter for full year until December 31st. These numbers are the same as what have been reported in note 9. These metrics have not been validated by external parties except for Dometic’ s assurance provider. S1-9 Diversity metrics T able 23. Gender distribution at top management* 31 December 2024 31 December 2025 Gender distribution Number Percentage (%) Number Percentage (%) Male – – 348 66 Female – – 179 34 Other – – – – Not reported – – – – Total – – 527 – * Top management level is defined as one and two levels below the group management team. No data available for 2024. T able 24. Breakdown of employees by age 31 December 2024 31 December 2025 Age range Number Number Less than 30 years 1,058 1,459 Between 30 and 50 years old 4,232 3,494 Over 50 years old 2,343 2,211 Total 7, 5 5 8 7,1 6 4 Accounting principles The metric underlying the target on the share of female managers is the percentage of women in top management positions, as presented in the table above. The metric is calculated as the proportion of female managers within the total manager population at the end of each reporting period. The definition of “manager” was updated in 2024. Management positions include employees with direct people-management responsibility , employees reporting directly to members of Group management, and/or have a managerial position that belongs to any of the Group’ s segments’ management teams. S1-14 Health and safety metrics Dometic monitors its health and safety performance using a set of quantitative metrics covering work-related injuries, fatalities, and injury frequency . These metrics are used to track progress against the company’ s health and safety objectives and to identify trends and areas requiring correc- tive actions. Key metrics include the number of work-related fatalities, Lost Time Injuries (LTI), and the Lost Time Injury Frequency Rate (LTIFR), as presented in the table below. Currently , 100% of Dometic own workforce is covered by the health and safety management guideline, which is informed by international standards such as ISO 45001. 120DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Social disclosures
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T able 25. Health and safety metrics Metrics 2024 2025 Number of fatalities as result of work-related injuries and work-related ill health of employees on Dometic’s sites 0 0 Number of recordable work-related accidents Not available 52 Rate of recordable work-related accidents Not available 3.2 Lost Time Injury (LTI) 29 12 Lost Time Injury Frequency Rate (LTIFR) 1.6 0.7 In 2025, the company started a gap analysis to identify missing data and sources needed to complete quantitative disclosures on key Health and Safety metrics, including lost workdays due to work-related injuries, fatalities from work-related accidents, work-related ill health, and other relevant metrics. Accounting principles The number and rate of recordable work-related accidents are estimated based on data reported in Dometic’ s health and safety management system and, where relevant, external regulatory filings such as OSHA reports. Due to dif- ferences in regional regulatory definitions and classification rules, the data provided by sites cannot yet be fully harmo- nized or consolidated at Group level. Therefore, the metrics reflect best-available estimates. Dometic will develop and implement a standardized Group-wide methodology for health and safety reporting within the next two years to improve accuracy , consistency of future disclosures. A LTI is an unplanned work-related incident that results in at least one full day or shift of absence, excluding non-work-related events such as commuting incidents. The LTIFR is calculated as the number of LTIs per one million working hours. Working hours include regular and overtime hours for employees, contractors and subcontractors, while non-worked hours, such as public holidays, annual leave, sick leave, parental leave, training or labour disputes, are excluded. Working hours and LTIs are collected and reported monthly through our financial systems. S1-16 Compensation metrics The data required to disclose the gender pay gap are currently unavailable for the reporting year. While Dometic holds partial information across certain segments and regions, these figures are not yet consolidated or validated at Group level. Therefore, it is challenging for the HR function to make such estimates. Dometic plans to develop a harmonized methodology and fully aggregate and validate these metrics over the next two years as part of the ongoing implementation of the DEI Policy . The ratio of total annual remuneration of the highest-paid individual is presented in T able 26 below. While Dometic does not track the median income of the average FTE, the average FTE remuneration is presented in the Remuneration report, calculated by the total personnel costs (excluding Group Management members) divided by total number of employees in note 9. The average is used to calculate the ratio of the highest paid individual. This average FTE number excludes the the Group Management members, the 12 highest paid individuals within Dometic, and thus, presents a close proxy to the median figures. T able 26. T otal remuneration ratio Metrics 2024 2025 CEO Compensation (kSEK) 24,233 27,597 Average FTE Remuneration (kSEK) 600 570 Ratio between highest paid individual and average FTE 40 48 S1-17 Incidents, complaints and severe human rights impacts T able 27 . Reported alleged violations Reported alleged violations 2024 2025 Discrimination and harassment 4 6 General labour relations and other concerns 41 32 Severe human rights incidents connected to workforce 0 0 Total Human Rights & Work Incident Complaints 45 38 T able 27 summarizes alleged human rights violations and complaints submitted through Dometic’ s Speak-up line. Complaints are classified into discrimination and harass- ment, general labor relations and other concerns, and severe human rights incidents. In 2025, a total of 38 alleged violations of the Code of Conduct and/or applicable laws and regulations related to the own workforce were reported through Dometic’ s SpeakUp line. The majority of labor relations cases were handled within the respective segment. No fines, penalties, compensation for damages, or legal proceedings arose from the reported cases. As a result, no monetary amounts require reconciliation with the financial statements. No cases were reported to the police or any other governmental authority , and no legal proceedings were initiated during the reporting period. No severe human rights incidents were identified in 2025. No cases constituted non-respect of the UNGPs, ILO Declaration, or OECD Guidelines. All employees and contractors across Dometic’ s operations have access to the confidential Speak Up Line, available 24/7 in multiple languages, to report concerns or alleged human rights violations. Reports can be submitted anonymously through an independent third-party system. All cases are logged in the SpeakUp platform and handled in accordance with the Dometic Human Rights Due Diligence (HRDD) Procedure. Upon receipt, the Ethics Committee is notified immediately , performs an initial review within 48 hours, and oversees a structured investigation process, typ- ically completed within 30 days depending on complexity . Investigations are conducted by qualified and independent personnel, with progress updates provided to the Ethics Committee. Outcomes, corrective actions and remediation measures are documented, and cases are reported quar- terly to the President & CEO and bi-annually to the Audit Committee. This process ensures consistent classification, investigation and resolution of all complaints, and supports data quality and comparability across reporting periods. 121DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Social disclosures
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GOVERNANCE DISCLOSURES The governance section on G1 addresses business conduct, including ethical business practices, anti-corruption and anti-bribery , and whistle- blower protection. It explains how the administrative, management, and supervisory bodies shape and oversee Dometic’ s culture and compliance framework, and how material business conduct risks and incidents are identified, managed, and reported. ESRS G1 Business conduct 123 122DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT
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Impact, risk and opportunity management G1-1 Corporate culture and business conduct poli cies Dometic establishes and promotes its corporate culture through the Code of Conduct, supported by governing documents such as the Internal Audit Policy , Finance Policy (including T ax, Treasury , and Credit), Privacy Policy , Information Policy , Insider Policy , IT Policy , and Diversity and Inclusion Policy . These documents collectively contribute to integrity , transparency , and compliance across the organiza- tion. Corporate governance is reinforced through Domet- ic’ s internal control system, including the MICR framework, segregation of duties, and the four-eyes principle to mitigate risks; and prevent and detect fraud. Functions most exposed to corruption and bribery risks include sourcing, sales, and finance. The Code of Conduct and the Business Partner Code of Conduct define expectations for ethical behavior, anti-cor - ruption, and fair business conduct across all operations and value chains globally . The Code of Conduct is based on Dometic’ s core values, sustainability framework, and internationally recognized principles. Anti-corruption principles embedded in the Code of Conduct support consistency with international conventions. It is based on international conventions and standards, including the ten principles of the UN Global Compact and the UN Conven - tion Against Corruption. The Code of Conduct addresses material impacts, risks, and opportunities by mitigating risks of unethical behavior, corruption, and reputational harm across the business. It includes detailed commitments to legal compliance, zero tolerance for bribery and facilitation payments, fair compe- tition, conflict-of-interest disclosure, trade law compliance, and enforcement of requirements for accurate and truthful reporting. Anonymous reporting through the Whistleblow- ing system (SpeakUp Line) is also included as a core element. The Code of Conduct applies across all global operations and activities, and covers all employees, non-employees, contractors, and business partners. Dometic has established clear mechanisms for identify- ing, reporting and investigating concerns related to unlawful behaviour and breaches of the Code of Conduct. Employ- ees and contractors can raise concerns through multiple internal channels or anonymously via the 24/7 SpeakUp Line, operated by an independent third party and designed to protect confidentiality and prevent retaliation. All cases follow a defined intake to resolution process, including initial review within 48 hours, independent investigations, and documentation of outcomes. Serious matters are escalated to the Group Ethics Committee, which oversees case handling, corrective actions, and remediation in line with international standards. In addition, Dometic’ s Enterprise Risk Management process and related internal control framework require relevant functions, such as HR, Legal, Sourcing, Operations, and HSE, to identify risks, escalate breaches, and implement mitigation or corrective actions to prevent recurrence. All policies outlined above are adopted at Group level, approved by the Board of Directors, and implemented consistently across segments and geographies. Other Group steering documents outlined in T able 1 (ESRS 2) are approved by the respective Group Management respon- sible for the material topic. Dometic updates policies and steering documents to reflect changes in laws, regulations, and operational context, integrating findings from the DMA, which is conducted every two years. The Board of Directors holds ultimate accountability for policy implementation, with execution supported by Group Management. The Group General Counsel is responsible for the Code of Conduct, with Human Resource functions rolling out and following up on the adherence, supported by the Ethics Committee. Dometic monitors the implementation and effectiveness of its policies through recurring follow-up processes led by the Group functions responsible for each material topic, complemented by the enterprise risk management process, which assesses selected compliance and corruption-related risks at Group level. Monitoring includes annual reviews to ensure regulatory alignment, operational follow-up by HR, HSE, Legal & Compliance and Sourcing, and oversight of incidents, breaches and emerging risks reported through established internal processes. When SpeakUp investiga- tions conclude, findings and case trends are consolidated and escalated to Group Management and the Ethics Committee, which may request corrective actions or policy updates to ensure the policy framework remains effective, compliant, and aligned with Dometic’ s operational realities. Key stakeholders include Segment and Group Manage- ment, employees, contractors, segment HR teams, local management, finance, sales and procurement functions, suppliers, and customers. Governance-related policies are primarily developed and adopted at the Group level and aligned with international standards. The interests of key stakeholders are considered through the DMA and during the implementation and review of steering documents. This consideration occurs via input from enterprise risk assess- ments, consultations during policy roll-outs and updates, including revisions to the Code of Conduct and related training materials, as well as through the Global Employee Engagement Survey . In addition, customer input regarding expectations for the Code of Conduct is taken into account to ensure alignment with their standards and requirements, further strengthening the policy framework (Policies are internally available through Dometic’ s intranet for relevant stakeholders. The Code of Conduct and Business Partner Code of Conduct are publicly available in English and Swedish. Further, business partners have access to tailored online training via dometicgroup.com. Concerns about unlawful behavior or breaches of the Code can be reported through the SpeakUp Line, which is available to Dometic’ s own workforce as defined in S1. Reports are investigated promptly , independently , and objectively under defined procedures outlined in a flow chart for reported cases. The SpeakUp Line is managed by a third-party vendor to ensure privacy and allows anonymous reporting in all Group languages via web or toll-free phone. Employees are encouraged to report concerns to managers or HR representatives, and when this is not possible, to use the SpeakUp Line. Whistleblower protection through the Speak Up Line includes established reporting channels, training, and measures implemented to prevent retaliation in compli- ance with Directive (EU) 2019/1937 . All employees and contractors receive mandatory Code of Conduct training, which includes clear guidance on when and how to use the SpeakUp Line and the protections available for reporters. Awareness materials, such as posters displayed at sites globally , further support understanding of reporting options and reinforce that the channel is available to both employees and contractors. Internal reporting channels and handler responsibilities are outlined in internal guidance. The SpeakUp intake-to-res- olution flow chart describe how the whistleblower mechanism operates and the steps to be followed from T able 28. Material sustainability matters and their related IROs Sustainability matters Value chain Impact Risk/ Opportunity Time horizon G1: Ethical business Own operations Negative impact Risk and opportunity Short/medium ESRS G1 Business conduct 123DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Governance disclosures
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initial intake to closure. Personnel who receive and handle reports through the SpeakUp Line are members of the Ethics Committee and follow the established workflow. There is currently no formal training programme for managers who receive allegations directly through the line organization; however, all managers are required to complete the Code of Conduct training, which includes expectations related to confidentiality , avoidance of conflicts of interest, inde- pendence when handling concerns, and escalation rules. Dometic does not have a whistleblower protection policy; however, the company plans to develop and implement a dedicated steering document within the next years. Mandatory Code of Conduct training is required for all employees during onboarding and every two years there- after. Additional annual mandatory training covers IT Policy and Core Values and is available in multiple languages. Training is also supplemented by targeted modules such as anti-trust and export regulation. These trainings embed prin- ciples from the broader governance framework described above. Dometic aims to achieve 100% completion of mandatory Code of Conduct training by 2025 and 2030. Completion is monitored through the centralized learn- ing-management system (Dometic Academy), and trends in Speak Up Line cases are reviewed to assess effectiveness of mitigation activities implemented. G1-3 Prevention and detection of corruption and bribery Dometic has a zero-tolerance approach toward corruption and financial irregularities, including bribery , kickbacks, facilitation payments, fraud, and money laundering. This commitment is aligned with the UN Global Compact and its T en Principles for Responsible Business. This commitment is stated in Dometic’ s Code of Conduct and Business Partner Code of Conduct. Dometic has established procedures to prevent, detect, and address allegations or incidents of corruption and brib- ery . These procedures are embedded in the ERM process, and through processes managed by the Internal Audit and Internal Control Function. The ERM process is conducted annually . It identifies and mitigates risks related to business conduct, including: • Breaches of social or ethical responsibilities such as corruption or bribery . • Risks in the supply chain related to unethical practices. • Internal control failures, fraud, and misconduct. • Risks associated with digitization and information security vulnerabilities that could enable corrupt practices. Scenario-based workshops are held to assess risks and their potential impacts. Mitigation actions are defined in Q3 and monitored throughout the year by Segments, Group Functions, and Group Management. The status of risk management activities is reported to the Audit Committee, Group Management, and the Board of Directors. Internal control processes complement ERM through robust controls, reporting mechanisms, and internal audits. The internal audit function operates independently and provides objective assurance on risk management, internal controls, and governance processes. Prevention measures include clear policies, Code of Conduct compulsory training and internal controls. Detection mechanisms include internal audits and a whistleblowing channel (Dometic Speak Up Line). Allegations are investigated promptly , and disciplinary actions are applied where appropriate. Lessons learned are integrated into ongoing risk management and internal control processes. The investigators and investigating committees are sep- arate from the chain of management involved in the matter. Allegations received through the SpeakUp Line or other channels are reviewed by the Ethics Committee, which con- sists of Group Legal, Group HR, and Group Internal Audit and Control. When an investigation is required, the Ethics Committee forms an investigation team by assigning person- nel, a department, or an external investigator if needed. The investigation team is assigned operates independently from the management involved in the matter, reporting only to the Ethics Committee. Outcomes of investigations and risk assessments are reported to the Audit Committee, Group Management, and the Board of Directors. This reporting enables oversight and accountability at the highest govern- ance level. Anti-corruption and anti-bribery policy commitment are embedded in the Code of Conduct. The Code of Conduct is communicated to employees, contractors and consultants through employment agreements, onboarding sessions, multilingual training modules, and site posters. Mandatory training as described below is reinforced through awareness campaigns and regular communication across the intranet and other workplace channels. Dometic provides a robust Code of Conduct training program through the Dometic Academy platform. The training is designed to be accessible online and is available in multiple languages to accommodate Dometic’ s global workforce. It provides clear definitions and examples of corruption, bribery , kickbacks, facilitation payments, fraud, and money laundering, outlining Dometic’ s zero-tolerance policy . It uses interactive modules and case studies to demonstrate expected behaviors and decision-making in real-world situations. The training also covers legal and ethical obligations, including compliance with international conventions and relevant laws, and explains how to report concerns or suspected violations, highlighting the Dometic Speak Up Line, confidentiality , and protection against retaliation. For certain roles, additional modules address topics such as export regulations, anti-trust, and other compliance areas. New employees are required to com- plete the Code of Conduct training within their first weeks of employment. All employees must participate in refresher training every two years. The program is regularly updated to reflect changes in laws, regulations, and Dometic’ s internal policies. The Code of Conduct training is required to complete through the Dometic Academy platform or Code of Conduct training workshops. Completion of this training is mandatory for all employees, including Group Management members. The Board of Directors is subject to the requirements of the Code of Conduct and participates in governance and oversight of compliance matters. The Board of Directors is kept informed through the process, including reviewing and approving the policy . The three functions identified as being at risk for corrup- tion and bribery , sourcing, sales, and finance, completed the Code of Conduct training program with participation rates of 99% (88%) for sourcing, 98% (91%) for sales, and 97% (87%) for finance. T able 29. Supplier due diligence and management metrics (entity-specific) Metric Baseline Year 2026 Target 2030 Target Percent of direct material suppliers that have signed the Code of Conduct 96 100 100 Percent of high-spend direct material suppliers assessed for sustainability 64 70 95 124DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Governance disclosures
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Actions and progress During the reporting year, Dometic maintained its established governance and business conduct activities as mandated by the Board of Directors and Group Man- agement. These actions are designed to uphold high ethical standards, comply with international frameworks, and support Dometic’ s policy objectives and sustainability targets. By continuing these activities, the company aims to strengthen ethical culture, reduce compliance risks, and advance sustainability integration across operations. During 2025, Dometic has redesigned and updated the employee Code of Conduct training for its own operations, with a 97% completion rate. This renewed training has further strengthened Dometic’ s progress toward Ethical Business Conduct and reduced the negative impacts and risks associated with this sustainability topic. Dometic has continued to require its global direct material suppliers in the upstream value chain to conduct EcoVadis assessments since 2023, with each assessment valid for 36 months. In 2025, a new metric was created to reflect this action directly . Details are in the Supplier Due Diligence section. This new metric supports Dometic to continuously improve and reduce the risks related to Ethical Business Conduct. Training & Awareness Mandatory Code of Conduct training, including targeted anti-corruption and fair competition modules, was delivered to all employees worldwide, with regular refreshers to rein- force compliance and ethical behavior. In 2025, 97% (97%) of employees completed the Code of Conduct training. This training is intended to promote a consistent understanding of ethical principles and reduce the likelihood of miscon- duct. The scope of this action covers all employees in every geography where Dometic operates and is delivered in mul- tiple languages via the Dometic Academy . Training is sched- uled every two years, and when onboarding new hires, enabling that both existing and incoming employees are covered. Progress is monitored and reported annually , with completion rates targets of 100% and tracked and reported yearly to demonstrate consistency and improvement. Supplier Due Diligence Supplier due diligence is a key component of Dometic’ s governance framework. As shown in T able 30, in 2025, 95% (91%) of all direct material suppliers signed the Dometic Code of Conduct, not meeting the 2025 target. In addition, 64% of high-spend direct material suppliers were assessed for sustainability in 2025, slightly short of the 65% target. These actions strengthen supplier accountability and support Dometic in managing and mitigating sustainabili- ty-related risks in the supply chain. The scope of supplier due diligence covers direct mate- rial suppliers globally , with particular focus on high-spend suppliers considered critical. The Sustainable Sourcing pro- gram is set to expand its ambition through actions outlined in a roadmap extending to 2030. These actions include broader supplier risk screening to include indirect materials, defining and following up on corrective action plans through the EcoVadis platform, and requesting low-carbon and other more sustainable solutions during the sourcing process. The program also targets 95% sustainability assessment coverage for high-spend direct material suppliers by 2030, supported by annual targets to monitor progress. These actions align with Dometic’ s commitment to managing IROs identified in the DMA in relation to business conduct, as well as other material IROs outlined in T able 4, refer to ESRS 2, E1, E2 and E5. Monitoring & Continuous Improvement Monitoring and continuous improvement are embedded in Dometic’ s approach to governance. Progress is tracked through Code of Conduct training completion rates, supplier assessment coverage, and whistleblowing case res- olution. These indicators provide a basis for evaluating the effectiveness of governance measures and identifying areas for improvement. Monitoring activities cover both Domet- ic’ s own operations and its direct suppliers globally , with quarterly and annual reporting on metrics in the sustainability platform. Actions and program improvements are guided by regulatory developments, annual or quarterly reviews, and stakeholder feedback, and are implemented as part of the company’ s commitment to continuous improvement. Whistleblowing and remediation In 2025, there were 38 reported alleged violation to the Code of Conduct and/or applicable laws and regulations related to fraud submitted through Dometic’ s Speak-up line. No evidence of wrongdoing was found in the alleged cases of fraud. No fines, penalties, or compensation for damages were imposed in relation to these cases. No cases were reported to the police or any other governmental authority , and no legal proceedings were initiated during the report- ing period. Dometic’ s reporting also provides quantitative and qualitative information regarding the progress of actions and action plans disclosed in prior periods. Training completion rates, supplier assessment coverage, and whistleblowing case resolution are tracked and reported annually , allowing for year-over-year comparisons and demonstrating the company’ s commitment to transparency and continuous improvement. The scope of these actions covers Dometic’ s own operations and direct suppliers globally , with affected stakeholder groups including employees, management, suppliers, and internal control functions. Time horizons for key actions are clearly defined, with quarterly , annual, and 2030 targets established to guide implementation and monitor progress. Where material impacts have occurred, appropriate corrective actions have been taken. During the reporting period, Dometic did not consoli- date or validate quantitative data specifically related to the allocation of financial resources, operational expenditures, or investments dedicated to business conduct actions under ESRS G1. While expenditures associated with governance and compliance activities are integrated within broader operational and management budgets, these figures are not separately itemized in financial statements. The company’ s approach to resource allocation for business conduct is embedded in its overall governance framework, with internal resources – including dedicated personnel in legal, compliance, and sustainability functions – supporting the implementation of key actions. At present, no specific sustainable finance instruments, such as green bonds or loans, are allocated to business conduct initiatives. Dometic does not currently track or disclose a consoli- dated amount of financial resources allocated to business conduct actions at Group level. The ability to implement the action plan is subject to ongoing internal budget allocations and evolving regulatory requirements. As with other topical areas, future reporting will aim to quantify resource alloca- tion more precisely as data collection systems are enhanced and methodologies are harmonized across segments. No material adverse impacts requiring compensation were identified during the reporting period in relation to business conduct matters, and therefore, no related actions were taken. In the event that material impacts are identified T able 30. Supplier due diligence and management metrics and performance Metric 2024 2025 Percent of direct material suppliers that have signed the Code of Conduct 91 95 Percent of high-spend direct material suppliers assessed for sustainability Not available 64 125DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Governance disclosures
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in future periods, Dometic will implement appropriate remediation measures in accordance with applicable legal requirements and internal governance procedures. The company remains committed to strengthening its approach to tracking and reporting resource allocation, remedy actions, and financial impacts associated with business conduct, in line with evolving ESRS requirements. G1-4 Confirmed incidents of corruption or bribery No cases of corruption or bribery were identified in Domet- ic’ s value chain during 2025. Consequently , no fines related such cases were issued. T able 31. Incidents of corruption or bribery Metric 2024 2025 Number of convictions 0 0 Amount of fines 0 0 Actions taken – – Accounting principles Whenever there is a case with fines, the fines will be aggregated based on actual amount from the authorities at the exchange rate of the reporting year end from the local currency to Swedish Krona (SEK). These numbers are not validated by external parties. The share of direct material suppliers that have signed the Code of Conduct is an entity-specific metric defined as the percentage of active external direct material suppliers, with a rolling 12-month spend exceeding SEK 20,000, that have signed Dometic’ s Code of Conduct for Business Part- ners. External suppliers are suppliers outside the Dometic Group, and tooling equipment suppliers are excluded from the metric. The share of high-spend direct material suppliers assessed for sustainability is an entity-specific metric defined as the percentage of high-spend external direct material suppliers that have undergone a valid EcoVadis assessment or Dometic Supplier Sustainability assessment as part of Dometic’ s supplier evaluation process. Assessments are valid for 36 months. 126DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT Governance disclosures
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AUDITOR’S LIMITED ASSURANCE REPORT OF DOMETIC GROUP (PUBL)´S STATUTORY SUSTAINABILITY STATEMENT To the general meeting of the shareholders of Dometic Group AB (publ), org.nr 556829-4390 Conclusion We have conducted a limited assurance engagement of the sustainability state- ment for Dometic Group AB (publ) for the financial year 2025. The sustainability statement is included on pages 64–128 in this document. Based on our limited assurance engagement as described in the section Auditor’ s responsibility , nothing has come to our attention that causes us to believe that the sustainability statement does not, in all material respects, meet the require- ments of the Swedish Annual Accounts Act which includes, • whether the sustainability statement meets the requirements of ESRS, • whether the process that the company has carried out to identify reported sustainability information has been performed as described in the sustainability report, and, • Compliance with the reporting requirements of the EU’ s Green T axonomy Regulation, Article 8. Basis for conclusion We have conducted the limited assurance engagement in accordance with FAR’ s recommendation RevR 19 Revisorns översiktliga granskning av den lagstadgade hållbarhetsrapporten. Our responsibility according to this recommendation is further described in the section Auditor’ s responsibility . We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion. Other matter The sustainability report for the previous financial year has not been subject to a limited assurance review, and consequently no review of the comparative figures in the sustainability report for the year 2025 has been performed. Other information than the sustainability statement This document also contains other information than the sustainability statement and is found on 1–63 and 129–185. The Board of Directors and the Managing Director are responsible for this other information. Our conclusion on the sustainability statement does not cover this other information and we do not express any form of assurance conclusion regarding this other information. In connection with our limited assurance engagement on the sustainability state- ment, our responsibility is to read the information identified above and consider whether the information is materially inconsistent with the sustainability statement. In this procedure we also take into account our knowledge otherwise obtained in the limited assurance engagement and assess whether the information otherwise appears to be materially misstated. If we, based on the work performed concerning this information, conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Responsibilities of the Board of Directors and the Managing Director The Board of Directors, and the Managing Director, are responsible for the preparation of sustainability statement in accordance with Chapter 6, Sections 12–12f of the Swedish Annual Accounts Act, and for such internal control as the Board of Directors and the Managing Director determine necessary to enable the preparation of the sustainability statement that is free from material misstatements, whether due to fraud or error. Auditor’ s responsibility Our responsibility is to express a conclusion on whether the sustainability report has been prepared in accordance with Chapter 6, Sections 12–12f of the Swedish Annual Accounts Act based on our review. The limited assurance engagement has been conducted in accordance with FAR’ s recommendation RevR 19 Revisorns översiktliga granskning av den lagstadgade hållbarhetsrapporten. This recom- mendation requires that we plan and perform our procedures to obtain limited assurance that the sustainability statement is prepared in accordance with these requirements. The procedures in a limited assurance engagement vary in nature and timing from, and are less in extent than for, a reasonable assurance engagement. Consequently , the level of assurance obtained in a limited assurance engagement is substantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed. This means that it is not possible for us to obtain such assurance that we become aware of all significant matters that could have been identified if a reasonable assurance engagement had been performed. Our firm applies ISQM 1 (International Standard on Quality Management), which requires the firm to design, implement and operate a system of quality management, including policies and procedures regarding compliance with ethical requirements, professional standards, and applicable legal and regulatory requirements. We are independent of Dometic Group AB (publ) in accordance with profes- sional ethics for accountants in Sweden and have otherwise fulfilled our ethical responsibilities in accordance with these requirements. A limited assurance engagement involves performing procedures to obtain evidence about the sustainability statement. The auditor selects the procedures to be performed, including assessing the risks of material misstatements in the sustainability statement, whether due to fraud or error. In this risk assessment, the auditor considers the parts of the internal control that are relevant to how the Board of Directors and the Managing Director prepares the sustainability statement, in order to design procedures that are appropriate under the circumstances, but not for the purpose of providing a conclusion on the effectiveness of the company’ s internal control. The review consists of making inquiries, primarily of persons responsible for the preparation of the sustainability statement, performing analyti- cal review, and conducting other limited review procedures. 127DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT
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The review procedures primarily include: Summary of the work performed Our procedures regarding the process that the company has implemented to identify sustainability information to be reported included, but were not limited to, the following: • Obtaining an understanding of the process by: • Making inquiries to understand the sources of information used by manage- ment (e.g., stakeholder dialogues, business plans, and strategy documents); and • Reviewing the company’ s internal documentation of its process; and • Evaluating whether the information obtained from our actions regarding the process implemented by the company is consistent with the description of the process in ESRS 2 section of the sustainability statement. Our procedures regarding the sustainability report included, but were not limited to, the following: • Through inquiries, obtain a general understanding of the internal control environment, reporting processes, and information systems relevant to the preparation of the information in the sustainability statement. • Evaluate whether the information identified by the Process is included in the sustainability statement; • Evaluate whether the structure and the presentation of the sustainability statement is in accordance with the ESRS; • Perform inquires of relevant personnel and analytical procedures on selected information in the sustainability statement; • Perform substantive assurance procedures on selected information in the sustainability statement; • Through inquiries and analytical procedures, evaluate supporting evidence to the methods, assumptions and data for developing significant estimates and forward-looking information; • Obtain an understanding of the process to identify taxonomy-eligible and taxonomy-aligned economic activities and the corresponding disclosures in the sustainability statement; • The review of taxonomy disclosures included, but was not limited to, the following review procedures: • Conducted inquiries of management and other persons within the company to obtain an understanding of the process and sources of information used in the taxonomy disclosures. • Performed analytical procedures on selected taxonomy disclosures. • Evaluated whether the presentation of the taxonomy disclosures is consistent with the requirements of the EU T axonomy Regulation. Inherent limitations in preparing the sustainability statement In reporting forward-looking information in accordance with ESRS, the Board of Directors and the Managing Director of Dometic Group AB (publ) are required to prepare the forward-looking information on the basis of disclosed assumptions about events that may occur in the future and possible future actions by AB Dometic Group AB (publ). Actual outcomes are likely to be different since antici- pated events frequently do not occur as expected. Stockholm, 18 March 2026 Öhrlings PricewaterhouseCoopers AB Patrik Adolfson Authorized Public Accountant Partner in charge This is a translation of the Swedish language original. In the event of any differences between this translation and the Swedish language original, the latter shall prevail. 128DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025 SUSTAINABILITY STATMENT
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KEY RATIOS SEK m 2025 2024 2023 2022 2021 Result Net sales 21,042 24,620 27,775 29,764 21,516 Organic growth, % –8 –12 –12 –3 23 EBITDA 3,010 2,387 4,207 4,265 3,775 EBITDA before items affecting comparability 3,018 3,587 4,374 4,797 3,899 EBITA 2,226 1,470 3,296 3,399 3,225 EBITA before items affecting comparability 2,234 2,670 3,463 3,931 3,348 Operating profit (EBIT) 1,700 –1,123 2,682 2,789 2,855 Operating profit (EBIT) before items affecting comparability 1,708 77 2,850 3,321 2,979 Net result for the year 428 –2,303 1,332 1,784 1,726 Margins EBITDA, % 14.3 9.7 15.1 14.3 17.5 EBITDA, before items affecting comparability, % 14.3 14.6 15.7 16.1 18.1 EBITA, % 10.6 6.0 11.9 11.4 15.0 EBITA, before items affecting comparability, % 10.6 10.8 12.5 13.2 15.6 EBIT, % 8.1 –4,6 9.7 9.4 13.3 EBIT before items affecting comparability, % 8.1 0.3 10.3 11.2 13.8 Capital measures Return on operating capital, % 5.2 –2,9 6.4 6.8 9.9 RoOC, excl. goodwill and trademarks, % 19.2 –9,7 21.0 23.1 36.9 Core working capital/net sales, % 25 29 31 32 24 SEK m 2025 2024 2023 2022 2021 Financial position Total assets 45,815 52,822 54,119 57,451 52,030 Interest-bearing debt 15,118 15,976 16,851 19,170 16,802 Average maturity of interest-bearing debt 2.7 2.1 2.5 2.8 3.8 Net debt 9,878 11,289 12,029 14,284 11,752 Net debt to EBITDA leverage ratio 3.3 3.1 2.7 3.0 2.6 Equity 20,932 25,465 25,992 26,415 22,447 Operating capital 31,191 37,229 38,495 41,186 34,841 Operating capital excl. goodwill and trademarks 7,986 10,473 11,460 13,079 8,894 Capital employed 36,050 41,442 42,843 45,585 39,249 Core working capital 4,529 6,174 7,070 9,143 6,476 Equity ratio, % 46 48 48 46 43 Share Earnings per share before dilution, SEK 1.34 –7.21 4.17 5.58 5.58 Earnings per share after dilution, SEK 1.34 –7.21 4.17 5.58 5.58 Adjusted earnings per share before dilution, SEK 2.52 3.21 5.93 8.32 6.75 Adjusted earnings per share after dilution, SEK 2.52 3.21 5.93 8.32 6.75 Dividend per share, SEK1) – 1.30 1.90 1.30 2.45 Number of shares (Note 28) 319,499,993 319,499,993 319,499,993 319,499,993 319,499,993 Employees Average number of employees 7,164 7,558 8,093 8,834 7,650 Revenue per employee, SEK m 2.94 3.26 3.43 3.37 2.81 1) Proposed by the Board of Directors. FINANCIAL REPORTS 129DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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CONSOLIDATED INCOME STATEMENT SEK m Note 2025 2024 Net sales 5, 6 21,042 24,620 Cost of goods sold 6 –14,906 –17,800 Gross profit 6,136 6,820 Sales expenses 6 –1,971 –2,160 Administrative expenses 6, 7 –1,354 –1,485 Research and development expenses 6 –558 –587 Other operating income and expenses 10 –19 82 Items affecting comparability 6 –8 –1,200 Amortization and impairment of acquisition-related intangible assets 6 –526 –2,593 Operating profit 8, 9 1,700 –1,123 Financial income 11 208 151 Financial expenses 11 –1,058 –998 Net financial expenses –850 –847 Profit (loss) before tax 850 –1,970 Taxes 12 –422 –332 Net result for the year 428 –2,303 Profit (loss) for the year attributable to owners of the Parent Company 428 –2,303 Earnings per share 28 before dilution, SEK 1.34 –7.21 after dilution, SEK 1.34 –7.21 Average number of shares 28 before dilution 319,499,993 319,499,993 after dilution 319,499,993 319,499,993 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME SEK m Note 2025 2024 Net result for the year 428 –2,303 Other comprehensive income Items that will not be reclassified subsequently to profit or loss: Remeasurements of defined benefit plans, net of tax 19 21 22 Total 21 22 Items that may be reclassified subsequently to profit or loss: Cash flow hedges, net of tax 3 –1 15 Gains/losses from hedges of net investment in foreign operations, net of tax 3 1,023 –630 Exchange rate differences on translation of foreign operations –5,589 2,976 Total –4,567 2,361 Other comprehensive income for the year –4,546 2,383 Total comprehensive income for the year –4,118 80 Total comprehensive income for the year attributable to owners of the Parent Company –4,118 80 FINANCIAL REPORTS 130DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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CONSOLIDATED BALANCE SHEET SEK m Note December 31, 2025 December 31, 2024 ASSETS Non-current assets Goodwill 14 17,974 20,661 Trademarks 14 5,230 6,095 Other intangible assets 14 5,377 6,795 Buildings, land and land improvements 15 734 861 Machinery and other technical installations 15 754 956 Tools, equipment and installations 15 347 389 Construction in progress and advance payments 15 147 215 Right-of-use assets 8 1,550 1,878 Deferred tax assets 12 1,024 1,091 Other non-current assets 3, 13 211 248 Total non-current assets 33,347 39,189 Current assets Inventories 16 4,828 6,455 Trade receivables 3, 17 1,849 2,300 Current tax assets 226 84 Derivatives, current 3 2 17 Other current assets 3 451 361 Prepaid expenses and accrued income 18 251 203 Cash and cash equivalents 25 4,860 4,213 Total current assets 12,467 13,633 TOTAL ASSETS 45,815 52,822 SEK m Note December 31, 2025 December 31, 2024 EQUITY Equity attributed to owners of the Parent Company Share capital 28 1 1 Other paid-in capital 14,777 14,777 Other reserves 2,031 6,598 Retained earnings 4,123 4,089 TOTAL EQUITY 20,932 25,465 LIABILITIES Non-current liabilities Long-term borrowings 21 11,074 13,077 Deferred tax liabilities 12 2,781 3,091 Other long-term liabilities 3 4 5 Leasing liabilities, non-current 3, 8 1,411 1,716 Provisions for pensions and similar obligations 19 439 512 Other provisions, non-current 20 294 435 Total non-current liabilities 16,003 18,836 Current liabilities Short-term borrowings 21 3,605 2,388 Trade payables 3 2,148 2,581 Current tax liabilities 46 43 Advance payments from customers 19 25 Leasing liabilities, current 3, 8 400 443 Derivatives, current 3 0 13 Other provisions, current 20 423 731 Other current liabilities 3, 29 979 950 Accrued expenses and prepaid income 22 1,259 1,347 Total current liabilities 8,879 8,520 TOTAL LIABILITIES 24,883 27,356 TOTAL EQUITY AND LIABILITIES 45,815 52,822 FINANCIAL REPORTS 131DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Attributable to owners of the Parent Company SEK m Note Share capital Other paid-in capital Other reserves 3) Retained earnings Total equity Opening balance January 1, 2024 28 1 14,777 4,238 6,976 25,992 Net result for the year –2,303 –2,303 Other comprehensive income Remeasurements of defined benefit plans, net of tax 1) 22 22 Cash flow hedges, net of tax 15 15 Gains/losses from hedges of net investment in foreign operations, net of tax –630 –630 Exchange rate differences on translation of foreign operations 2,976 2,976 Total comprehensive income – – 2,361 –2,280 80 Transactions with owners Dividend paid to shareholders of the Parent Company –607 –607 Total transactions with owners – – – –607 –607 Closing balance December 31, 2024 1 14,777 6,598 4,089 25,465 Opening balance January 1, 2025 28 1 14,777 6,598 4,089 25,465 Net result for the year 428 428 Other comprehensive income Remeasurements of defined benefit plans, net of tax 2) 21 21 Cash flow hedges, net of tax –1 –1 Gains/losses from hedges of net investment in foreign operations, net of tax 1,023 1,023 Exchange rate differences on translation of foreign operations –5,589 –5,589 Total comprehensive income – – –4,567 449 –4,118 Transactions with owners Dividend paid to shareholders of the Parent Company –415 –415 Total transactions with owners – – – –415 –415 Closing balance December 31, 2025 1 14,777 2,031 4,123 20,932 1) 2024 remeasurements of defined benefit plans amounted to SEK 28 m, and the tax related remeasurements of defined benefit plans amounted to SEK –6 m. 2) 2025 remeasurements of defined benefit plans amounted to SEK 24 m, and the tax related remeasurements of defined benefit plans amounted to SEK –3 m. 3) Other reserves mainly consist of exchange rate differences on translation of foreign operations. FINANCIAL REPORTS 132DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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CONSOLIDATED STATEMENT OF CASH FLOW SEK m Note 2025 2024 Cash flow from operating activities Operating profit 1,700 –1,123 Adjustment for non-cash items Depreciation and amortization 25 1,310 3,510 Other non-cash items 25 –390 1,243 Changes in working capital Changes in inventories 811 843 Changes in trade receivables 193 142 Changes in trade payables –121 –151 Changes in other working capital –152 144 Income taxes paid –513 –740 Net cash flow from operations 2,839 3,869 Cash flow from investments Acquisitions of operations, net of cash acquired 29 – –159 Investments in fixed assets 14, 15 –362 –379 Proceeds from sales of fixed assets 14, 15 10 3 Other investing activities 22 17 Net cash flow from investments –331 –519 Cash flow from financing Raised long-term borrowings 25 5,755 – Repayment of long-term borrowings 25 –5,136 –2,056 Change in short-term borrowings 25 –92 389 Payment of lease liabilities 25 –336 –352 Paid interest –933 –939 Received interest 206 85 Other financing activities 25 –144 –66 Dividend paid to shareholders of the Parent Company –415 –607 Net cash flow from financing –1,096 –3,545 Cash flow for the year 1,413 –195 Cash and cash equivalents at beginning of year 25 4,213 4,348 Exchange differences on cash and cash equivalents –765 59 Cash and cash equivalents at end of year 4,860 4,213 FINANCIAL REPORTS 133DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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PARENT COMPANY INCOME STATEMENT PARENT COMPANY STATEMENT OF COMPREHENSIVE INCOME SEK m Note 2025 2024 Net result for the year –69 1,643 Other comprehensive income Other comprehensive income – – Total comprehensive income for the year –69 1,643 SEK m Note 2025 2024 Administrative expenses 6, 7, 9 –244 –243 Other operating income 6 245 247 Operating profit 1 4 Interest income from Group companies 11 516 741 Result from participation in Group companies 11 – 1,800 Other financial income and expenses 11 –413 –1,090 Net financial expenses 103 1,451 Group contributions –121 173 Profit (loss) before tax –17 1,629 Taxes 12 –52 14 Net result for the year –69 1,643 FINANCIAL REPORTS 134DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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PARENT COMPANY BALANCE SHEET SEK m Note December 31, 2025 December 31, 2024 ASSETS Non-current assets Shares in subsidiaries 26 16,238 16,228 Other intangible assets 14 0 0 Equipment 15 0 0 Deferred tax assets 12 0 66 Receivables from subsidiaries 4,347 7,302 Other non-current assets 13 88 78 Total non-current assets 20,674 23,674 Current assets Receivables from subsidiaries 6,397 4,395 Other current assets 13 11 Prepaid expenses and accrued income 18 19 16 Cash and cash equivalents 0 128 Total current assets 6,430 4,551 TOTAL ASSETS 27,104 28,225 SEK m Note December 31, 2025 December 31, 2024 EQUITY 28 Equity attributed to owners of the Parent Company Restricted equity Share capital 1 1 Unrestricted equity Retained earnings 11,945 10,717 Net result for the year –69 1,643 TOTAL EQUITY 11,877 12,361 PROVISIONS Other provisions 20 126 124 Total provisions 126 124 LIABILITIES Non-current liabilities Long-term borrowings 21 11,074 13,077 Total non-current liabilities 11,074 13,077 Current liabilities Short-term borrowings 21 3,605 2,388 Trade payables 27 21 Liabilities to subsidiaries 132 – Other current liabilities 14 3 Accrued expenses and prepaid income 22 249 252 Total current liabilities 4,028 2,664 TOTAL LIABILITIES 15,227 15,864 TOTAL EQUITY AND LIABILITIES 27,104 28,225 FINANCIAL REPORTS 135DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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PARENT COMPANY STATEMENT OF CHANGES IN EQUITY SEK m Note Share capital Other reserves Retained earnings Total equity Opening balance January 1, 2024 28 1 – 11,324 11,325 Net result for the year 1,643 1,643 Other comprehensive income – – Total comprehensive income – – 1,643 1,643 Transactions with owners Dividend paid to shareholders of the Parent Company –607 –607 Total transactions with owners – – –607 –607 Closing balance December 31, 2024 1 – 12,360 12,361 Opening balance January 1, 2025 28 1 – 12,360 12,361 Net result for the year –69 –69 Other comprehensive income – – Total comprehensive income – – –69 –69 Transactions with owners Dividend paid to shareholders of the Parent Company –415 –415 Total transactions with owners – – –415 –415 Closing balance December 31, 2025 1 – 11,876 11,877 PARENT COMPANY STATEMENT OF CASH FLOW SEK m Note 2025 2024 Cash flow from operating activities Operating profit 1 4 Adjustment for non-cash items Depreciation and amortization 25 0 1 Other non-cash items 25 –29 1302 Changes in working capital Changes in trade payables 8 6 Changes in other working capital –2,116 68 Income taxes paid 8 19 Net cash flow from operations –2,128 1,401 Cash flow from investments Investments in fixed assets – – Other investing activities –10 – Net cash flow from investments –10 – Cash flow from financing Raised long-term borrowings 25 5,755 0 Repayment of long-term borrowings 25 –5,136 –2,056 Group contributions 173 29 Change in short-term borrowings 25 –92 389 Paid interest –827 –819 Received interest 478 746 Other financing activities 25 2,074 1,045 Dividend paid to shareholders of the Parent Company –415 –607 Net cash flow from financing 2,010 –1,273 Cash flow for the year –128 128 Cash and cash equivalents at beginning of year 25 128 – Exchange differences on cash and cash equivalents – – Cash and cash equivalents at end of year 0 128 FINANCIAL REPORTS 136DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 1 General information Dometic Group AB (publ.) and its subsidiaries (together “Dometic Group”, “Dometic” or “the Group”) is a global outdoor tech group that aims to make it easier to live a mobile lifestyle. Drawing on Dometic’ s core expertise in cooling, heating, power and electronics, mobility and space optimization we enable more people to connect with nature and enjoy a greater sense of freedom outdoors. Dometic achieves this by designing smart, sustainable and reliable products with outstanding design. Millions of people worldwide use Dometic’ s solutions while camping or exploring nature in RVs, boats and cars. Dometic’ s portfolio includes installed products for land vehicles and boats, as well as standalone solutions for outdoor enthusiasts. The Parent Company is a publicly listed limited liability company with corporate identity number 556829-4390. The registered office of the Board of Directors of the Company is in Stockholm. The address of the Group headquarters is Hemvärns gatan 15, 6th floor, SE-171 54 Solna, Sweden. The consolidated financial statements and annual report cover the period January 1 to December 31, 2025 (comparative figures January 1 to December 31, 2024) and were authorized for issue by the Board of Directors on March 17 , 2026. The balance sheets and income statements are subject to approval by the annual shareholders’ meeting on April 14, 2026. Totals quoted in tables and statements may not always be the exact sum of the individual items because of rounding differences. The aim is for each line item to correspond to its source, and rounding differences may therefore arise. Unless otherwise stated, all amounts are reported in million Swedish krona (SEK m). NOTE 2 Summary of material accounting policies The principal accounting policies applied in the preparation of these consolidated financial statements are set out below. These policies have been consistently app- lied, unless otherwise stated. Standards or interpretations that are not applicable for the Group are not included in the summary below. Basis of preparation The consolidated financial statements of Dometic Group AB (publ.) have been pre- pared in accordance with IFRS Reporting Standards and associated interpretations as adopted by the European Union. The consolidated financial statements have been prepared under the acquisition cost principle, except for certain financial assets and liabilities, which are measured at fair value. Some additional information is disclosed in accordance with the sustainability and financial reporting standards of the Swedish Corporate Reporting Board and the Swedish Annual Accounts Act. The Parent Company applies the same accounting principles as the Group, except in the cases specified in section “Parent Company accounting principles. The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates and assumptions. It also requires Group management to exercise its judgment in the application of the Group’ s accounting policies. The areas involving a higher degree of judgment or complexity , or areas of assumptions and estimates that are material to the consolidated financial state- ments, are presented in note 4. Further information about additional accounting policies is disclosed in each note as well as this note, which contains a summary of the applied material accounting policies. The Group applies hedge accounting for derivatives that hedge forecasted cash flows in foreign currency , possible derivatives that hedge cash flow risks in future interest payments, and for loans in foreign currency that hedge the currency translation risks in net investments in foreign operations. Changes in accounting policies New or amended accounting policies for 2025: The Group is subject to amended standards and interpretations effective as of January 1, 2025. These changes consist only of amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates. These changes have not had a material impact on the Group’ s financial statements. New or amended accounting policies for 2026 and thereafter: A number of changed standards and interpretations have been published by IASB but are not yet in effect and these have not been applied by the Group. These include amendments to IFRS 9 Financial Instruments and IFRS 7 Financial Instru- ments: Disclosures as well as IFRS 19 Subsidiaries without Public Accountability: Disclosures. These changes have not been deemed to have a material effect on the Group’ s financial statements. In addition to these, the Group will also be covered by the new standard IFRS 18 Presentation and Disclosures in Financial Statements, which will replace IAS 1 regarding the presentation of financial statements. The standard entails updated principles for presentation and includes, in particular, three new defined categories of income and expenses and two new defined sub- totals in the income statement. In addition, it also contains new disclosure require- ments regarding Group Managements defined performance measures. As a result of the implementation of IFRS 18, there are also amendments to other standards, for example IAS 7 Statement of Cash Flows, IAS 34 Interim Financial Reporting and IAS 33 Earnings per Share. IFRS 18 become effective on January 1, 2027 and work is underway to identify how the new standard and its consequences will affect the Group’ s financial statements. However, while it is currently not possible to quantify the impact on the Group’ s financial statements, Dometic’ s preliminary assessment is that the new standard will not have a material effect. Principles for consolidation Subsidiaries Subsidiaries are all entities over which the Group has control, and these subsidia- ries are included in the consolidated financial statements in their entirety . The acquisition method is used to account for business combinations. Acquisition- related costs are expensed as they are incurred in the Group’ s income statement. The part of the purchase price that exceeds the fair value of the Group’ s share of the identified net assets acquired is recorded as goodwill. Intercompany transactions, balances and unrealized gains and losses on transactions between Group companies are eliminated. Dometic has entered into an agreement for the transfer of trade receivables, whereby the Group can transfer trade receivables in the U.S. and Germany on an ongoing basis to the buyer, which is a “SPV” (Special Purpose Vehicle) under the counterparty’ s auspices. Transferred claims are managed separately from the rest of the counterparty’ s SPV (“silo”). Dometic has assessed that there is no controlling influence and therefore no consolidation. The transferred receivables are recog- nized on a continuing involvement basis. See also below under “Transferred trade receivables” and note 17 . NOTES 137DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 2 (cont.) Associates Investments in associates are recognized using the equity method and are initially recognized at acquisition cost. Changes to the Group’ s share of the profit or loss in an associate, after the date of acquisition, are reported as an increase or decrease in the carrying amount of the shares, adjusted for dividends. Dividends received and the Group’ s share of the profit or loss of the associate are recognized in the income statement. Foreign currency translation Functional and presentation currency Items included in the financial statements of each of the Group’ s entities are reported using the currency of the country in which the entity operates, so-called functional currency . The functional currency of the Parent Company is Swedish krona (SEK), which is also the presentation currency of the Group, and hence the currency in which the consolidated financial statements are prepared. Transactions and balances Transactions in foreign currency are translated into the functional currency using the exchange rates on the transaction date or on the date when a transaction is revalued. Foreign exchange gains and losses resulting from the settlement of such transactions and from the revaluation of exchange rates for monetary assets and liabilities denominated in foreign currencies using the rate on the balance sheet date, are recognized in the income statement, except when recognized in equity as qualified cash flow hedges or hedges of net investment in foreign operations. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the income statement as financial income or expen- ses, net. All other foreign exchange gains and losses are presented in the income statement as part of the operating result. Group companies The result and financial position of all the Group entities which have a functional currency different from the presentation currency of the Group are translated into the presentation currency as follows: (1) assets and liabilities for each balance sheet presented are translated at the closing rate at the balance sheet date (2) income and expenses for each income statement are translated at average exchange rates, and (3) all resulting exchange differences are recognized in other comprehensive income. Exchange rates Average rate Closing rate as of December 31 Country Currency 2025 2024 2025 2024 Australia AUD 6.35 6.97 6.16 6.85 Canada CAD 7.05 7.73 6.71 7.65 China CNY 1.37 1.48 1.31 1.51 Denmark DKK 1.48 1.54 1.48 1.54 Eurozone EUR 11.07 11.45 10.82 11.49 United Kingdom GBP 12.95 13.53 12.42 13.86 Hong Kong HKD 1.26 1.36 1.18 1.42 Hungary HUF 0.03 0.03 0.03 0.03 Japan JPY 0.07 0.07 0.06 0.07 Norway NOK 0.95 0.98 0.91 0.97 Poland PLN 2.61 2.65 2.56 2.69 United States USD 9.85 10.60 9.18 11.00 South Africa ZAR 0.55 0.58 0.5 0.59 Financial assets Financial assets classification Financial assets, other than trade receivables which are carried at transaction price, are initially recognized at fair value plus transaction costs for all financial assets not subsequently carried at fair value through profit or loss. The Group classifies and measures its financial assets in the following catego- ries: amortized cost and fair value through profit or loss. Financial assets recognized at amortized cost are recognized using the effective interest method. Assets consist of trade and other receivables and cash and cash equivalents in the balance sheet. The Group holds these assets in order to generate cash flows according to the contractual terms and according to the “hold to collect” business model. The exception is trade receivables within transferred receivables, where the business model is to sell the trade receivables, which are therefore classified at fair value through profit or loss. See also below under “Transferred trade receivables”. Financial assets recognized at fair value through profit and loss concern financial derivatives (currency forwards) for hedging of assets in foreign currencies when hedge accounting is not applied. See also below under “Derivative instruments and hedge accounting”. Valuation of financial derivatives at fair value is performed based on the most recent updated market prices. Gains or losses arising from changes in the fair value of the financial assets measured at “fair value through profit and loss” category is presented in the operating result or financial net in the income statement, depending on the nature of the economic relationship with the underlying asset. Assets are classified as current assets if they are expected to be settled within 12 months, otherwise they are classified as non-current. Impairment of financial assets The Group’ s impairment methodology for expected credit losses on trade receiva- bles uses a credit loss matrix designed in accordance with the impairment model for financial assets in IFRS 9. The Group applies the simplified approach to mea- suring and reporting expected credit losses over the lifetime of trade receivables. Historical information about Group companies, regarding credit loss experience and aging, is used to forecast future credit losses. See further in note 17 . For other financial assets, which comprises other receivables and cash and cash equivalents, three stages of impairment are applied for expected credit losses. The Group’ s assets are in stage one, i.e. there is not considered to have been a significant increase in credit risk since initial recognition. Impairment is assessed using a rating-based methodology and impairment losses are recognized unless the amounts are deemed not to be material. See further in note 3. In the balance sheet, financial assets are recognized net of the impairment for expected credit losses. Transferred trade receivables Dometic has entered into agreements for transferred trade receivables whereby the Group can choose to transfer its trade receivables in the U.S. and Germany to counterparties on an ongoing basis. The Group recognizes these trade receivables at fair value through profit or loss. At a transfer of trade receivables, the Group recognizes the transferred trade receivables to the extent of continuing involve- ment and does not fully derecognize the carrying amount, while as well recognizes an associated liability . Costs arising from transferred trade receivables, when mea- sured at fair value, interest expenses and administrative expenses, are recognized as financial costs. Trade receivables that have not been fully derecognized remain on the balance sheet within trade receivables. The associated liability is recognized in other current liabilities. See further in note 17 . Financial liabilities Financial liabilities measured at amortized cost are initially recognized at fair value, net of transaction costs. The Group’ s financial liabilities consist mainly of trade payables, other current liabilities and external borrowings. External borrowings are classified as short-term liabilities, unless the Group has the right to defer settlement NOTES 138DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 2 (cont.) of the liability for at least 12 months after the balance sheet date. Fees paid in connection with the establishment of loan facilities are recognized as transaction costs of the loan to the extent that it is probable that some or all of the facility will be utilized. If so, the cost is only recognized once the facility is used for borrowing, via accrual of the fee using the effective interest method. In the event that it is not probable that all or part of the facility will be used, the fee is capitalized as a prepaid expense and amortized over the term of the facility . A financial liability is derecognized when the obligation under the liability is discharged, cancelled or otherwise expires. Financial liabilities recognized at fair value through profit or loss mainly relate to considerations not yet paid from acquisitions. See also note 3 and note 29. Offsetting financial assets and liabilities Financial assets and financial liabilities are offset and the net amount reported in the balance sheet, when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle the amounts on a net basis or to simulta- neously realize the asset and settle the liability . See further in note 3. Derivative instruments and hedge accounting Derivatives are used to financially hedge the currency translation and interest rate risks that the Group is exposed to. See further in note 3. Derivatives are recog- nized at fair value in the balance sheet, with positive values recognized as assets and negative values recognized as liabilities. Hedge accounting is applied for derivatives that hedge forecasts of future cash flows in foreign currency , derivatives that hedge cash flow risk in future interest payments and for borrowings in foreign currency that hedge the translation risk from net investments in foreign operations. Recognition of gains and losses on derivatives depend on whether hedge accoun- ting is applied and what is being hedged. Cash flow hedges Cash flow hedging of future sales and purchases in foreign currencies Currency forwards are used for hedges of currency risk in forecasted future sales and purchases in foreign currencies. The effective portion of changes in the fair value of currency forward contracts that are designated and qualify as cash flow hedges is recognized in other comprehensive income and accumulated in other reserves in equity . Ineffective portions are recognized in the income statements within financial items, net. The accumulated value changes in equity are transfer- red, through other comprehensive income, to income when the effects of the hedged cash flow impact profit or loss for the year. Cash flow hedges of interest rate risks Where applicable, interest rate swaps are used for hedging of interest rate risks for forecasted interest payments for borrowing at floating interest rates, where Dometic receives floating interest and pays a fixed interest rate. Interest payments and interest accrued on interest rate swaps are recognized in the income statement as interest expenses, whereby the effects of the interest rate swaps meet the hed- ged floating interest expense. Unrealized changes in the fair value of the interest rate swaps, to the extent that they are effective hedges, are recognized in other comprehensive income and accumulated in other reserves in equity . Ineffective portions are recognized in the income statements within net financial expenses. Hedging of currency risk in foreign net investments Net investments in foreign subsidiaries have been hedged to a certain extent by borrowings in corresponding foreign currencies which are translated to the exchange rate at the balance sheet date. Translation differences on the hedging instruments for the period are reported, to the extent that the hedging is effective, in other comprehensive income and accumulated in other reserves in equity . This neutralizes the translation differences that impact other comprehensive income when the Group is consolidated. The profits or losses related to any ineffective portion is recognized continuously in the income statement. Gains or losses accumulated in equity are transferred to the income statement in the event of the sale of a foreign operation. Hedging of receivables and payables denominated in a foreign currency Currency forwards are used for hedging of currency risk in receivables or payables in foreign currencies. For these derivatives, hedge accounting is not applied as the economic hedge is reflected in the accounts by revaluing the hedged item at the closing rate and recognizing the hedging instrument at fair value, thereby offset- ting the effect of the exchange rate change in the income statement. Changes in the exchange rates of operating receivables and payables and currency forwards hedging these items are recognized in operating profit. Changes in the exchange rates of financial receivables, payables and foreign currency forwards hedging these items are recognized within net financial expenses. Employee benefits Termination benefits T ermination benefits are payable when employment is terminated by the Group before the planned retirement date, or whenever an employee accepts voluntary redundancy in exchange for such benefits. The Group recognizes termination benefits when it is demonstrably committed to either terminating the employment of current employees according to a detailed formal plan without possibility of withdrawal or providing termination benefits as a result of an offer made to encourage voluntary redundancy . Incentive programs The Group recognizes a liability and an expense for incentives when contractually obliged or constructively obliged due to past practices. Parent Company accounting principles The Parent Company’ s annual report is prepared in accordance with the Annual Accounts Act and the Swedish Corporate Governance Board’ s Recommendation RFR 2, Redovisning för juridiska personer. This means that IFRS is applied with the deviations and additions presented below. Financial reports In accordance with the requirements in RFR 2, the Parent Company’ s financial statements deviate from those presented for the Group. The Parent Company has the following five statements in the Annual Report: income statement, statement of comprehensive income, balance sheet, statement of cash flow and statement of changes in equity . Financial instruments: Recognition and measurement The Parent Company does not apply IFRS 9 Financial instruments, which replaced IAS 39 Financial instruments: Recognition and measurement. Instead, measure- ments are based on the acquisition cost of assets and liabilities. Right-of-use assets The Parent Company has determined not to apply IFRS 16 Leases in accordance with the exemption option in RFR 2. NOTES 139DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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Shares in subsidiaries Shares in subsidiaries are recognized in the Parent Company’ s financial statements according to the acquisition cost method. The value of shares in subsidiaries is tested for impairment when there is an indication of a decline in the value. Group contributions The Parent Company recognizes all group contributions, paid and received, as appropriations in the income statement. Shareholders’ contributions Shareholders’ contributions from the Parent Company are recognized directly in the receiver’ s equity and capitalized in the shares and participations of the Parent Company , to the extent that impairment is not required. Dividend from subsidiaries A dividend is accounted for when the right to a dividend is deemed probable. NOTE 2 (cont.) NOTES 140DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 3 Financial risk management Dometic is exposed to a number of financial risks, which may affect the Group’ s finan- cial position and performance. The management of these risks is an integral part of the Group’ s financial strategy and is carried out in accordance with established policies and other internal governance documents. Financial risk management is centralized within Group Treasury , which is part of the Group’ s central finance function. Financial risk management is based on a treasury policy established by the Board of Directors. The Treasury Policy is part of the Finance Policy and describes the finan- cial risks to which Dometic is exposed and how such risks shall be mitigated and managed. The Treasury Policy also sets out the division of responsibilities between Group Treasury and the Group’ s subsidiaries. The Finance Policy establishes the framework for financial risk management, foreign currency risks, interest rate risks, the use of derivative and financial instruments, price risks, credit risks, funding risks, liquidity risks, as well as the management and investment of surplus liquidity . Currency risks Dometic operates in a large number of countries and is therefore exposed to currency risks that may affect the Group’ s financial position, earnings and cash flow. Currency risks consist of transaction risks from commercial flows and translation risks. Currency risks are managed by Group Treasury through, among other things, derivatives. See further in note 2. Transaction risks from commercial flows Transaction risk arises as a result of the Group having receipts and payments in foreign currencies. Transaction exposure arises from both commercial and financial transactions and relates mainly to the euro, the U.S. dollars, Australian dollars, Canadian dollars, British pounds and Chinese yuans. Important currency flows are sales from China/Hong Kong to Europe, the United States and Australia, between Canada and the United States, and sales from Europe to Australia and the United States. As far as possible, transactional exposure is concentrated in the countries where the producing companies are located. This is achieved by the producing companies invoicing the sales companies in their respective functional currency . According to the Treasury Policy , up to 95 % of important forecast currency flows can be hedged. Hedge accounting is applied to hedge forecasted foreign currency flows. Translation risks Translation risk arises when translating the income statements and balance sheets of foreign subsidiaries into the reporting currency , SEK. Dometic has a number of subsidiaries whose net assets are exposed to translation risk. Currency exposure arising from the net assets in the Group’ s foreign operations is hedged to a certain degree through borrowings in the relevant foreign currencies. These borrowings are recognized as hedges of the net investment. As of December 31, 2025, 87% (89) of the Group’ s net assets in EUR and 22% (22) of the net assets in USD were hedged with borrowings in the respective currency . Sensitivity analysis of currency and interest rate risk The table below shows the effect on profit before tax and equity exclusive of hedges in SEK m if the currency increased or decreased by 5% and if the interest rate increased or decreased by 1%. Effect on profit (loss) before tax Effect on equity Currency Variable Change 2025 2024 2025 2024 Transaction effect USD/CNY +5% / –5% 14 / –14 94 / –94 27 / –27 71 / –71 EUR/CNY +5% / –5% 32 / –32 – 64 / –64 – AUD/CNY +5% / –5% 11 / –11 – 22 / –22 – EUR/USD +5% / –5% – 70 / –70 – 52 / –52 EUR/AUD +5% / –5% – –4 / 4 – –3 / 3 AUD/USD +5% / –5% – 43 / –43 – 32 / –32 Effect on profit (loss) before tax Effect on equity Interest rate Variable Change 2025 2024 2025 2024 Interest rate effect Interest rate +1% / –1% –41 / 41 –59 / 59 –21 / 21 –44 / 44 NOTES 141DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 3 (cont.) Interest rate risks Dometic is exposed to interest rate risk on cash and cash equivalents and inte- rest-bearing liabilities. Changes in interest rates may have an impact on the Group’ s results, financial position and cash flows. Interest rate risks are managed centrally by Group Treasury in accordance with the Treasury Policy . Cash is either placed in bank accounts or invested in instru- ments with a maximum maturity of one month. Group Treasury ensures that the average fixed-interest period of the long-term debt portfolio remains within the range of 6 months to 3 years. In cases where borrowings do not conform to this interest rate structure, interest rate swaps may be used, see note 2. As of December 31, 2025, 70% (56) of external borrowings were at fixed rates. Based on 2025 volumes and an average interest period period of 1.9 years for the external borrowing. A change in the market interest rate of one percentage point would affect the Group’ s interest expenses for 2025 by approximately +/– SEK 41 m before tax. See table in section ”Sensitivity analysis of currency and interest rate risk”. Hedge accounting The Group applies hedge accounting for certain derivatives and external bor- rowings in foreign currency as follows: Cash flow hedges In accordance with Dometic’ s Treasury Policy , the Group hedges part of its cash flow exposure by using forward exchange contracts/currency forwards (see above under section ”Currency risks”) and, where applicable, interest rate swaps (see above under section ”Interest rate risks”) with external counterparties as described below. Hedges of net investment in foreign operations External borrowings in foreign currencies hedge part of the Group’ s net invest- ments in foreign operations (see above under Currency risks). The effectiveness of the Group’ s hedging relationships is assessed by a qualitative analysis of critical terms and conditions. The hedge ratio is one to one because the nominal amount of the hedging instrument matches the nominal amount of the hedged item. Possible causes of ineffectiveness in hedging relationships include changes in the credit risk of the Group or the counterparty . The table below shows the maturity of the hedging instruments in hedge accounting, according to nominal amounts: December 31, 2025 <1 year 1–2 years 2–5 years Total Cash flow hedging: Currency forwards USD/CNY (nominal amount in CNY m) 52 – – 52 – Average forward rate 6.97 – – – EUR/CNY (nominal amount in CNY m) 264 – – 264 – Average forward rate 8.26 – – – AUD/CNY (nominal amount in CNY m) 81 – – 81 – Average forward rate 4.63 – – – Hedging of net investment: External borrowing USD (nominal amount in USD m) 44 – 233 277 EUR (nominal amount in EUR m) 200 – 400 600 NOTES 142DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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The tables on the next page show the effects of hedge accounting: Change in value used to measure inefficiency Hedging instruments December 31, 2025 Nominal value Carrying amount Hedging instruments Hedged item Inefficiencies reported in the results Cash flow hedging Currency forwards1) 523 2 2 –2 – Hedging of net investment External borrowing 9,037 8,978 1,289 –1,289 – 1) Carrying amount in the above table is a net value comprising of assets of SEK 2 m and liabilities of SEK 0 m. Change in value used to measure inefficiency Hedging instruments December 31, 2024 Nominal value Carrying amount Hedging instruments Hedged item Inefficiencies reported in the results Cash flow hedging Currency forwards1) 999 4 4 –4 – Hedging of net investment External borrowing 12,365 12,328 –794 794 – 1) Carrying amount in the above table is a net value comprising of assets of SEK 17 m and liabilites of SEK 13 m. The table below presents a reconciliation of the components of equity , other reserves, affected by hedge accounting: 2025 2024 Other reserves in equity Reserve cash flow hedges Reserve for translation exposure Reserve cash flow hedges Reserve for translation exposure Opening balance 2 319 –12 949 Change in fair value/revaluation hedging instruments - Currency forwards 27 – 60 – - External borrowing in foreign currency – 1,294 – –794 Amounts transferred from other reserves –28 –5 –42 – Taxes 0 –265 –4 163 Closing balance 2 1,342 2 319 All amounts in the cash flow hedge reserve relate to ongoing hedging relationships. The amount in the translation exposure reserve relates to both terminated and ongoing hedging relationships. Commodity price risk Dometic is exposed to price risks for raw materials such as iron, copper, aluminum and components in which these metals are included. This risk also affects plastics in which petroleum forms the base. To reduce the price risk of this type, the Group may enter into short-term contracts with some of the suppliers of raw material. No such contracts were concluded either in the current or previous year. Financial credit risks The Group divides credit risks into two categories, financial credit risks and credit risks in trade receivables. See note 17 for a description of credit risk in trade receivables. Financial assets may involve a risk that counterparties will be unable to meet their payment obligations. This exposure relates to investments in liquid assets as well as from derivative positions with positive unrealized results against banks and other counterparties. The Treasury Policy allows only creditworthy counterparties. Cash and cash equivalents amounted to SEK 4,860 m (4,213) at the end of the year and consist of bank deposits. These were, in all material aspects, placed with banks with A1/A+ ratings or higher. Dometic has a certain concentration of credit risk with the banks where its cash pools are held and, where applicable, in connec- tion with the investment of surplus liquidity . All derivative transactions are covered by ISDA netting agreements to reduce the credit risk, and as of December 31, 2025, SEK 2 m (11) can be netted with counterparties. Assets and liabilities are only netted from a credit risk perspective for counterparties with valid ISDA agreements. No credit losses incurred in the current or previous year, either on cash invest- ments or derivative positions. NOTE 3 (cont.) NOTES 143DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 3 (cont.) The following table shows the carrying amount of the Group’ s derivatives: December 31, 2025 Assets Liabilities Derivatives Net amount recognized in the balance sheet 2 0 ISDA agreements whose transactions are not offset in the balance sheet 0 0 Net after offsetting in accordance with ISDA agreements 2 0 Financing risks Financing risk is considered to be a risk that financing cannot be maintained, exten- ded, increased, refinanced or that such financing can only be provided on terms that are unfavorable to the Group. Dometic and the Board of Directors regularly review funding needs from sources other than equity in order to ensure the finan- cing of expansion and investments. The Group, through its bank loan agreements, must be compliant with bank covenants. At year-end 2025, the headroom was adequate in these covenants. Dometic has an ongoing and constructive dialogue with its banks and during the year, the financial covenants in the credit facility agreement have been adjusted to reflect the current market conditions. See also the Board of Directors Report and note 21 for more information on the covenants. Dometic manages financing risk by securing multiple sources of funding. As part of the diversification of borrowing sources, Dometic has in 2025 entered into agreements for transferred trade receivables, see note 17 . The Group is actively working to spread the maturity structure of its financing, as well as to start financing and refinancing processes well before the need arises. See further in note 21. Liquidity risks Liquidity risks are Dometic’ s risk of being unable to meet its payment obligations due to insufficient reserves of cash and cash equivalents or being unable to meet its payment obligations without significantly higher financing costs. The overall objec- tive of Dometic’ s management of liquidity is to ensure that the Group maintains control over its liquidity situation. Liquidity risks are managed by Dometic through ensuring it has sufficient sour- ces of liquidity through current investments in a liquid market, available financing through contracted credit facilities and the possibility to close market positions. As at 31 December 2025, the Group’ s liquidity amounted to the equivalent of SEK 4 860 m, as well as an unutilized credit facility of EUR 300 m. To maintain control over the liquidity and to ensure that the Group has enough cash to make major payments such as interest payments and amortizations on the Group’ s borrowings, all subsidiaries report their cash balance centrally to Group Treasury weekly . A liquidity forecast for the upcoming 12 weeks is reported on a monthly basis as well. The following table shows the Group’ s financial liabilities and derivatives broken down into relevant time intervals based on the remaining period from the balance sheet date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows for the liabilities. For 2026, the expected cash flow is SEK 4,169 m, related to external borrowings including future undis- counted interest payments. See further in note 21. December 31, 2025 < 1 year 1–2 years 2–3 years 3–4 years > 4 years External borrowings including future undiscounted interest payments 4,169 487 5,152 2,389 4,364 Foreign exchange rate contract 0 – – – – Trade and other payables 2,559 – – – – Leasing liabilities 446 372 284 222 1,203 Total 7,174 859 5,436 2,611 5,567 December 31, 2024 < 1 year 1–2 years 2–3 years 3–4 years > 4 years External borrowings including future undiscounted interest payments 3,037 5,024 5,197 3,498 – Foreign exchange rate contract 13 – – – – Trade and other payables 2,747 – – – – Leasing liabilities 449 380 306 240 1,462 Total 6,246 5,404 5,503 3,738 1,462 Capital management Dometic’ s objectives when managing capital are to enable a continued sufficient growth in order to provide returns for shareholders and to maintain an optimal capital structure to reduce the cost of capital. Capital is defined as equity and net debt, which amounted to SEK 30,810 m (36,754) as of December 31. Dometic follows the net debt to EBITDA leverage ratio as defined and reconciled below. Another important aspect is the Group’ s public credit rating. Net debt to EBITDA leverage ratio December 31, 2025 December 31, 2024 Long-term borrowings 11,074 13,077 Short-term borrowings 3,605 2,388 Add-back capitalized transaction costs 59 37 Total borrowings excluding capitalized transaction costs 14,738 15,501 Cash and cash equivalents –4,860 –4,213 Net debt 9,878 11,289 EBITDA before items affecting comparability 3,018 3,587 EBITDA before items affecting comparability, including pro forma acquisitions 3,018 3,587 Net debt to EBITDA leverage ratio 3.3x 3.1x Fair value Valuation of financial instruments and derivatives at fair value is performed at the most recent updated market prices. The valuation is performed on a regular basis to identify fluctuations in financial assets and liabilities over time. Standard methods such as discounted cash flows based on observable market value for each respec- tive maturity and currency are used. Currency forwards are valued at fair value by converting the market value of the forwards to SEK using the prevailing spot rate on the balance sheet date. For interest rate swaps, the market value is converted to SEK using the same spot rate. Other non-current liabilities consist of considerations not yet paid, which relate to potential earnouts from acquisitions, where the size of the earn-out is normally linked to profitability targets in the acquired company during a specific period of time. These liabilities are valued on the transaction date based on the best estimate of the future actual results and belong to the level 3 category according to IFRS 13 Fair Value Measurement. An updated assessment of the value is performed on each balance sheet date. Per December 31, 2025, the fair value for level 2 financial assets was SEK 2 m (17) and for financial liabilities SEK 0 m (13) attributable to derivatives. The level 3 fair value of financial assets amounted to SEK 82 m (0) and financial liabilities amounted to SEK 578 m (784). NOTES 144DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 3 (cont.) Financial instruments by category December 31, 2025 Carrying amount Financial assets or liabilities at amortized cost Financial assets or liabilities at fair value in the results Derivatives at fair value – hedge accounting Derivatives at fair value in the results Financial assets Other non-current assets 211 211 – – – Derivatives, current 2 – – 2 0 Trade receivables 1,849 1,767 82 – – Other current assets 451 451 – – – Cash and cash equivalents 4,860 4,860 – – – Total financial assets 7372 7,288 82 2 0 Current portion 7,162 7,078 82 2 0 December 31, 2025 Carrying amount Financial assets or liabilities at amortized cost Financial assets or liabilities at fair value in the results Derivatives at fair value – hedge accounting Derivatives at fair value in the results Financial liabilities Long-term borrowings 11,074 11,074 – – – Other long-term liabilities 4 4 – – – Derivatives, current 0 – – 0 0 Short-term borrowings 3,605 3,605 – – – Trade payables 2,148 2,148 – – – Other current liabilities 979 401 578 – – Total financial liabilities 17,810 17,232 578 0 0 Current portion 6,732 6,154 578 0 0 December 31, 2024 Carrying amount Financial assets or liabilities at amortized cost Financial assets or liabilities at fair value in the results Derivatives at fair value – hedge accounting Derivatives at fair value in the results Financial assets Other non-current assets 248 248 – – – Derivatives, current 17 – – 14 3 Trade receivables 2,300 2,300 – – – Other current assets 361 361 – – – Cash and cash equivalents 4,213 4,213 – – – Total financial assets 7,139 7,123 – 14 3 Current portion 6,891 6,874 – 14 3 December 31, 2024 Carrying amount Financial assets or liabilities at amortized cost Financial assets or liabilities at fair value in the results Derivatives at fair value – hedge accounting Derivatives at fair value in the results Financial liabilities Long-term borrowings 13,077 13,077 – – – Other long-term liabilities 5 5 – – – Derivatives, current 13 – – 11 1 Short-term borrowings 2,388 2,388 – – – Trade payables 2,581 2,581 – – – Other current liabilities 950 166 784 – – Total financial liabilities 19,013 18,216 784 11 1 Current portion 5,931 5,135 784 11 1 Performing fair value measurements require different kinds of input on how to determine fair value. The different levels have been defined as follows: Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2: Other observable data for the asset or liability than quoted prices included in level 1, either directly , i.e. as price quotations, or indirectly , i.e. derived from prices. Level 3: Data for the asset or liability that is not based on observable market data. NOTES 145DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 4 Critical accounting estimates and assumptions In order to prepare the accounting records in accordance with accounting standards, estimates and assumptions affecting reported amounts in the annual report must be made. The actual results could differ from these estimates and assumptions. Below are the sources of estimation uncertainty that management considers to present a risk of material adjustment to the carrying amounts of assets and liabilities, as well as other estimates that are significant but are not considered to present a risk of material adjustment. It also describes the key judgments made in applying the accounting principles to the consolidated financial statements. The following information is presented below: • Main sources of uncertainty in estimates • Judgments made in applying the Group’ s accounting policies • Other estimates Main sources of uncertainty in estimates Impairment test of goodwill and trademarks In accordance with IFRS, the need for impairment of goodwill and trademarks is tested annually . These tests are based on an analysis of the recoverable value, which is calculated based on Group Management’ s estimates of future cash flow substantiated by the established budget and the strategic plan for the Group. A change in key assumptions could have a significant effect on the carrying amount of goodwill and trademarks. See further in note 14. Deferred tax assets and deferred tax liabilities Estimates are made to determine the value of both current and deferred tax assets and deferred tax liabilities. The valuation of deferred tax assets on tax losses carried forward is based on Group management’ s forecasts of the possibility of future utilization and tax losses carried forward are recognized if it is considered probable that future taxable profits will be available within the forecast period. The outcome may differ from the estimates made, e.g. due to changes in projections of future taxable profits. See further in note 12. Assessments made in applying the Group’s accounting policies Impairment test of goodwill and trademarks For goodwill and trademarks with indefinite useful lives, Group Management makes ongoing assessments of the parameters used in preparing cash flow statements. In addition, assessments are also required to define which are cash- generating units. These are important assessments to test for impairment. See further in note 14. Transferred trade receivables As presented in note 2, in 2025 agreements were concluded to transfer trade receivables in the U.S. and Germany to a so-called SPV and this requires certain accounting judgments. Based on the agreements and accounting principles app- lied, it is determined that transferred trade receivables are recognized to the extent of continuing involvement, as it has been determined in accordance with IFRS 9 that the material risks and rewards have not been fully transferred to the counter- party . To the extent that a receivable is subject to continued involvement, that part continues to be recognized as an asset. In the event that Dometic chooses not to continue to transfer trade receivables, an assessment is also required as to whether there is any additional payment obligation, which does not exist according to the current evaluation. See further in note 17 . Other estimates Post-employment benefits Subsidiaries within Dometic have different pension plans, and the schemes are generally funded through payments to insurance companies or trustee-adminis- tered funds. There are both defined-benefit and defined-contribution plans. The value of the pension obligations for the subsidiaries’ defined-benefit plans are impacted by the assumptions made by Group Management and used as a basis by actuaries when calculating these obligations. See further in note 19. Warranty obligation Within the industries that Dometic operate within, many products are covered by warranty , which is included in the price and valid for a predetermined amount of time. Provisions for warranties are calculated based on past experience of costs for repairs. These estimates may be subject to uncertainty . See further in note 20. Recall provision Provisions for recalled products are based on estimates of future cash flow required to settle commitments. Such estimates are based on the nature of the recall, the legal process and the likely extent of damages as well as the progress of the process. Furthermore, consideration is taken of opinions and recommendations from legal advisors and other advice regarding the outcome of the process and experiences from similar cases. See further in note 20. Provision for restructuring The definition of restructuring costs includes estimated costs for severance pay as well as other direct costs in connection with closure of operations. The calculation for provision is based on detailed plans for activities that are expected to improve the Group’ s cost structure and productivity . The amounts have been calculated on the basis of estimates where there is some uncertainty about the actual outcome. Historical outcomes from similar events have been considered in the estimates to minimize the level of uncertainty . See further in note 20. Provisions for obsolescence Inventories are valued at the lowest of cost and net realizable value. As actual sales prices and sales costs are unknown at the balance sheet date, estimates and calcu- lations are required to determine the net realizable value. Furthermore, estimates are made when calculating obsolescence, for example, taking into consideration the turnover rate and the ageing of the inventory . See further in note 16. Business combinations and consideration not yet paid Valuation of identifiable assets and liabilities in connection with the acquisition of businesses means that items in the acquired company’ s balance sheet and items that have not been recognized in the acquired company’ s balance sheet, such as customer relationships, intellectual property and brands, are measured at fair value. In normal circumstances, when listed market prices are not available for the assets and liabilities to be valued, different valuation methods have to be used. These valuation methods are based on a number of assumptions. Furthermore, several balance sheet items in the acquisition balance sheet are also subject to estimates and assumptions, which means that the preliminary measurement may need to be conducted and subsequently adjusted. All payments for acquiring a business are recorded at acquisition date to fair value, including liabilities related to earn-outs or deferred considerations. The actual result of earn-outs often depends on one or several factors related to future development, such as profitability targets, of the acquired company for an agreed period of time and can therefore be less or exceed the initial recognized value. See further in note 29. NOTES 146DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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Provision for taxes Dometic operates in multiple jurisdictions and is regularly subject to reviews and investigations by local tax authorities. These processes can be complex and may extend over several years, giving rise to uncertainties regarding the amount and/or timing of any future outflow. In view of this, certain estimates are required when calculating provisions and contingent liabilities in connection with these processes. Uncertainties are mitigated through discussions with knowledgeable advisors on the most reasonable outcome. Disputes Dometic may be involved in disputes in the ordinary course of business. Disputes may relate to alleged defects in the delivered goods or services, or other issues related to the business operations. Companies within the Group may also be involved in legal or administrative proceedings that have arisen in the operations. Accounting for these may be subject to material estimates and assumptions. It cannot be ruled out that an unfavorable outcome in a dispute or proceedings may have a significant impact on the Group’s result and financial position. See further in note 24. NOTE 4 (cont.) NOTES 147DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 5 Segment information 2025 Land Vehicles Marine Mobile Cooling Solutions Global Ventures Group Common Total Net sales, external 9,169 4,814 5,087 1,971 – 21,042 Operating profit (EBITA) before items affecting comparability 667 947 387 234 – 2,234 Operating margin, %, EBITA before items affecting comparability 7.3% 19.7% 7.6% 11.8% – 10.6% Amortization and impairment of acquisition-related intangible assets –124 –184 –159 –58 – –526 Items affecting comparability –5 – –4 – – –8 Operating profit (EBIT) 538 762 224 176 – 1,700 Operating margin, %, operating profit (EBIT) 5.9% 15.8% 4.4% 8.9% – 8.1% Financial income – – – – 208 208 Financial expenses – – – – –1,058 –1,058 Taxes – – – – –422 –442 Net result for the year – – – – – 428 Investments in intangible and tangible assets 156 87 112 7 – 362 Net assets1) 11,625 11,001 9,494 3,338 – 35,458 1) Net assets at the end of the period excluding financial assets and liabilities and deferred taxes. 2024 Land Vehicles Marine Mobile Cooling Solutions Global Ventures Group Common Total Net sales, external 10,858 5,571 5,824 2,368 – 24,620 Operating profit (EBITA) before items affecting comparability 664 1,198 538 271 – 2,670 Operating margin, %, EBITA before items affecting comparability 6.1% 21.5% 9.2% 11.4% – 10.8% Amortization and impairment of acquisition-related intangible assets –2,137 –201 –187 –69 – –2,593 Items affecting comparability –983 –100 –54 –63 – –1,200 Operating profit (EBIT) –2,456 897 297 139 – –1,123 Operating margin, %, operating profit (EBIT) –22.6% 16.1% 5.1% 5.9% – –4.6% Financial income – – – – 151 151 Financial expenses – – – – –998 –998 Taxes – – – – –332 –332 Net result for the year – – – – – –2,303 Investments in intangible and tangible assets 119 127 115 18 – 379 Net assets1) 13,952 13,341 10,874 4,123 – 42,290 1) Net assets at the end of the period excluding financial assets and liabilities and deferred taxes. The Group’ s operations are divided into four segments: Land Vehicles, Marine, Mobile Cooling Solutions and Global Ventures. Land Vehicles includes product solutions for the RV and CPV markets. This also includes other standalone outdoor products for land-based outdoor and recreational activities. Marine includes the entire product offering to customers in the marine industry globally . Mobile Cooling Solutions includes Mobile Cooling and Drinkware products under the Dometic and Igloo brands. Global Ventures includes the global product areas Other Global Verticals (Residential and Hospitality) and Mobile Power Solutions. These segments are reported in a manner consistent with the internal reporting (so-called integrated results) provided to the Group Management and the Board of Directors. The operating segments are regularly reviewed by the President and CEO, the Group’ s chief operative decision maker. The Group’ s monitoring is primarily based on net sales and operating profit before amortization and impairment of acquisition-related intangible assets (EBITA) and items affecting comparability . Information regarding income for each segment is based on a combination of product and business area for sales and assets utilized. Sales between segments are carried out on market conditions with arm’ s length principles. Management follow-up is based on integrated results in each segment, i.e. intra-segment sale is eliminated in the result of the segment. A simplified way of describing an integrated result is the local result in each segment combined with profit/loss allocated from the factories in other segments based on production volume. Furthermore, sales channels are considered important when presenting the Group’ s net sales, see the table below for more details. In 2025, Dometic merged the former operating segments Land Vehicles Ameri- cas, Land Vehicles EMEA and Land Vehicles APAC into one consolidated operating segment called Land Vehicles. The merger is based on the overlapping product solutions of the former operating segments in the form of OEM and Service & Aftermarket activities as well as stand-alone outdoor products such as tents and cooking products. NOTES 148DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 5 (cont.) Land Vehicles 2025 2024 Net sales, external – Americas 2,984 3,533 – EMEA 5,250 6,084 – APAC 935 1,241 Total Land Vehicles net sales, external 9,169 10,858 Operating profit (EBITA) before items affecting comparability – Americas –112 –237 – EMEA 544 550 – APAC 234 351 Total Land Vehicles operating profit (EBITA) before items affecting comparability 667 664 Operating margin, %, EBITA before items affecting comparability – Americas –3.7% –6.7% – EMEA 10.4% 9.0% – APAC 25.0% 28.3% Total Land Vehicles operating profit (EBITA) before items affecting comparability 7.3% 6.1% Inter-segment sales 2025 2024 Land Vehicles 290 441 Marine 191 91 Mobile Cooling Solutions 96 75 Global Ventures 48 18 Total eliminations 624 624 Sales channels 2025 2024 Net sales, external OEM 8,078 9,863 Distribution 6,794 7,641 Service & Aftermarket 6,170 7,116 Total net sales, external 21,042 24,620 Geographical information 2025 2024 Net sales, external United States 11,134 12,707 Germany 2,746 3,235 Australia 990 1,580 Italy 718 809 France 671 783 United Kingdom 661 758 Japan 469 573 Canada 431 542 Netherlands 352 465 Sweden 305 343 Other countries 2,565 2,826 Total 21,042 24,620 Net sales attributable to countries on the basis of the customer’ s location. The Group has no single customer from which it generates income that accounts for more than 10% of the Company’ s net sales. For more information on sales channels and external net sales within each segment, see page 33. Non-current assets 2025 2024 United States 19,237 23,575 Germany 4,886 5,229 Australia 2,942 3,286 Canada 2,134 2,537 Sweden 1,877 2,007 United Kingdom 714 858 Italy 444 466 China 271 352 South Africa 192 180 Hong Kong 134 165 Other countries 537 533 Total 33,347 39,189 Non-current assets by country are based on the location of the companies’ headquarters. NOTES 149DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 6 Net sales and operating profit Group net sales in 2025 amounted to SEK 21,042 m (24,620). Revenue recognition and additional information on net sales IFRS 15 Revenue from Contracts with Customers Revenue recognition in the Group is based on IFRS 15 Revenue from Contracts with customers. This standard specifies the requirements for recognizing revenue from all contracts with customers, except for contracts that are within the scope of the standards on leasing, insurance contracts and financial instruments. Dometic is a global outdoor tech company on a mission to make mobile living easy . Leveraging Dometic’ s core expertise in cooling, heating, power & electro- nics, mobility , and space optimization, more people are empowered to connect with nature and elevate their sense of freedom in the outdoors. This is achieved by creating smart, sustainable, and reliable products with outstanding design. Millions of people around the world use Dometic’ s products while camping and exploring nature with their cars, RVs, or boats. The range of offerings includes installed products for land vehicles and boats, as well as standalone solutions for outdoor enthusiasts. The IFRS 15 five-step model is used to determine when and at what amount revenue is recognized. Using this model, the Group identifies the contract with the customer, identifies the performance obligations, determines and allocates the transaction price and recognizes revenue when control of the good or service is transferred to the customer, either at a point in time or over time. Customer contract Orders are generally placed through the customer’ s purchase order, which constitutes a contract according to IFRS 15. This includes all enforceable rights and obligations required. Distinct performance obligations The promises are all distinct, since the customer can benefit from the goods on their own and the service (if included in a contract) with goods that are already available. Each promise (performance obligation) is recognized separately . In the rare cases where the Group offers installation services, revenue for that performance obligation is recognized over the contract period during which the service is provided. At present, the service part of the Group’ s revenue is imma- terial, which is why revenue over time is not separately disclosed in the financial statements. Transaction price Sales are recognized at the price specified in the customer agreements, net of the estimated discounts and returns at the time of sale. The Group uses its accumulated experience to estimate and provide for the discounts and returns. If the transaction price includes a variable amount, an estimate of what the entity will be entitled to receive is made. Estimated discounts are deducted at the time of the sale through a corresponding reduction of external revenue. The amount is estimated by using either the expected value or the most likely amount. The revenue estimate is included in the transaction price only if it is highly proba- ble that there will not be a significant reversal in the amount of cumulative revenue recognized. Revenue recognition Revenue is recognized when the Group has fulfilled its performance obligation, which means the Group has transferred the promised good or service to the customer. The goods or services are considered as transferred when the customer has obtained control of the good or service. Revenue from the sale of goods and services is recognized in a pattern that reflects the transfer of control of the promi- sed goods or service to the customer, and this takes place when the customer has obtained the ability to control the use of the goods and obtained substantially all remaining benefits from the asset. Control either transfers to the customer over time or at a point in time, and this is determined at contract inception. The assessment of whether control transfers over time or at a point in time is critical to the timing of revenue recognition, since revenue is recorded when or as control transfers. The Group has a limited number of arrangements where the performance obligations are satisfied over time, including some services but also a small volume of customized goods constructed for customers. To ensure correct timing for revenue reporting, progress toward satisfaction of a performance obligation must be measured. Indicators that the transfer of control at a point in time for goods include whether the Group has a right to payment for the goods or if the customer has legal title to the goods. Other indicators that the Group considers include whether the Group has transferred physical possession of the goods and if the customer has assumed significant risks and rewards associated with the ownership of the goods. Additionally , the Group considers whether the customer has accepted the goods in accordance with the customer acceptance clause. International commercial terms are important as a checkpoint, to determine when control transfers to a customer. The Group must assess whether all relevant control factors collectively indicate that the customer has obtained control before any revenue is recognized. Financing component If the timing of the payment of the consideration is in advance or deferred and the timing provides a significant financing benefit, the payments are adjusted for the time value of money . As payment terms are normally 30–60 days and in line with market practice, the Group considers that there is no significant financing component. Advance payments from customers occur to a limited extent within the Group. Warranty Dometic offers a standard warranty , normally between 2–3 years. In some cases, an extended warranty may be offered to the customer. The standard warranty is reported as a provision and a warranty cost in the income statement, whereas the extended warranty is considered a separate performance obligation. The portion of the transaction price in the contract that is allocated to the extended warranty is recognized as revenue over the warranty period. Costs of goods sold and additional information on costs by nature Cost of goods sold consists of direct costs of producing products such as cost of materials, labor costs and factory costs. It also includes warranties and inventory value adjustments, costs of assembly of products, logistics (among other things, outbound freight and distribution costs for warehousing and deliveries to custo- mers) and costs for finished goods from external suppliers. The most significant components of the Group’ s cost of sales are materials (including both raw materials and manufacturing supplies), which represented 56% (46) of the Group’ s net sales at year-end. As Dometic manufactures a wide range of products, the Group’ s direct mate- rials are highly diversified, with no individual type of raw material or component being dominant. Other significant components of goods sold include factory and material overheads and direct and indirect labor, which together typically repre- sent a quarter of the Group’ s cost of goods sold. NOTES 150DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 6 (cont.) Group Parent Expenses by nature 2025 2024 2025 2024 Raw materials and manu- facturing supplies –10,788 –11,240 – – Employee benefit expenses (Note 9) –4,647 –5,131 –88 –96 Amortization depreciation and impairment (Notes 8, 14 and 15) –1,310 –3,510 – – Other –2,597 –5,862 89 100 Total –19,342 –25,743 1 4 Group Parent Expenses by function 2025 2024 2025 2024 Cost of goods sold –14,906 –17,800 – – Sales expenses –1,971 –2,160 – – Administrative expenses –1,354 –1,485 –244 –243 Research and development expenses –558 –587 – – Other operating income 1) 137 221 245 247 Other operating expenses –156 –139 – – Items affecting comparability –8 –1,200 – – Amortization and impairment of acquisition-related intangible assets –526 –2,593 – – Total –19,342 –25,743 1 4 1) The Parent Company’ s operating income consists entirely of income from subsidiaries. Sales expenses Sales expenses consist mainly of expenses relating to marketing activities, inclu- ding costs of sales staff, promotion, exhibitions and other events. Sales expenses also include credit and collection as well as related IT expenditures. Administrative expenses Administrative expenses include costs related to the administration of Dometic’ s business that are not attributable to costs of goods sold or sales expenses, such as expenses related to Group Management and the IT , human resources, finance and administration functions. Research and development expenses Research and development expenses refer to expenditures related to Dometic’ s R&D operations, which mainly consist of product development cost. These costs include, among other things, other salaries and related staff benefits, which generally are fixed costs, as well as external services, costs for testing products and product design, which generally are variable costs. During the fiscal year, costs amounted to SEK 558 m (587). Expenditures for research and development amounting to SEK 33 m (46) have been capitalized during the year. Amortization and impairment of acquisition-related intangible assets by function and other operating income/cost The table to the right specifies amortization and impairment of acquisition-related intangible assets by function and other operating income/cost. These costs are recognized separately in the Group’ s income statement due to the material financial impact, as well as to specify the amortization and impairment of acquisi- tion-related intangible assets from the Group’ s other functions. The amortization constitutes costs from identified assets from acquisitions, and the impact is impor- tant to consider when the result from the reporting period is compared to previous reporting periods. When performing acquisitions, amortization of acquisition- related intangible assets can change materially compared to previous periods, therefore recognizing them on a separate line in the report gives a fair view. Amortization of technology and intellectual property rights is primarily consi- dered to be related to the production process in various ways and is therefore included in cost of sales in the table below. Amortization of trademarks and customer relationships is related to the sales process and is therefore included in selling expenses. No amortization and impairment of acquisition-related intangible assets is deemed to be linked to administrative processes and therefore there are no costs in this function. Amortization and impairment of acquisition-related intangible assets by function and other operating income/cost 2025 2024 Cost of goods sold Amortization technology –52 –70 Amortization of intellectual property rights –3 –3 Total –55 –73 Sales expenses Amortization of trademarks –44 –55 Amortization of customer relationships –427 –465 Total –471 –520 Other operating income and expenses Impairment of goodwill – –2,000 Total – –2,000 Total amortization and impairment of acquisition- related intangible assets –526 –2,593 NOTES 151DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 6 (cont.) Items affecting comparability by function and other operating income/cost The table below specifies items affecting comparability by function and other operating income/cost. Items affecting comparability by function and other operating income/cost 2025 2024 Cost of goods sold Global restructuring program – –876 Other – –27 Total – –903 Sales expenses Global restructuring program – –97 Other – –1 Total – –98 Administrative expenses Global restructuring program – –56 Other –5 –1 Total –5 –57 Research and development expenses Global restructuring program – –6 Other – – Total – –6 Other operating income and expenses Global restructuring program – –124 Other –4 –12 Total –4 –136 Items affecting comparability Global restructuring program – –1,159 Other –8 –40 Total –8 –1,200 Items affecting comparability Items affecting comparability are events or transactions with significant financial impact, which are relevant for understanding the financial performance when comparing profit for the current period with previous periods. Items included are for example restructuring programs, expenses related to major revaluations, gains and losses from material acquisitions or disposals of subsidiaries, or transaction costs related to material mergers and acquisitions. In December 2024, Dometic announced a global restructuring program with the aim of strengthening profitability and to release resources for continued investments with the purpose of encouraging profitable growth and value crea- tion within strategic growth areas. The program includes portfolio changes and structural cost reductions and is estimated to have a positive impact on EBITA before amortization and impairment of acquisition-related intangible assets and items affecting comparability of SEK 750 m per year when fully implemented by the end of 2026. The total costs of the restructuring program amounted to SEK 1,200 m and were fully recognized as items affecting comparability in 2024, in accordance with the Group’ s accounting principles. Since the start of the program, approximately 300 employees have been affected, one manufacturing site and five distribution centers have been closed. The annual run-rate savings at the end of the year amounted to approximately SEK 350 m and the payments linked to the restructuring program in 2025 amounted to SEK 212 m. During the fiscal year, acquisition-related transaction costs amounted to SEK –4 m (–9), included in other operating income and expense. NOTE 7 Audit fees Group Parent 2025 2024 2025 2024 PricewaterhouseCoopers (PwC) Audit fees1) –28 –28 –8 –4 Audit-related fees 2) –1 0 –1 0 Tax fees 3) – – – – All other fees 4) 0 0 – – Total fees to PwC –29 –28 –9 –4 Other auditors Audit fees to other audit firms –2 –1 – – Total fees to other auditors –2 –1 – – Total fees to auditors –31 –29 –9 –4 1 ) Audit fees – fees for the annual audit services and other audit services, i.e. services that only the external auditors reasonably can provide, and include the company audit and statutory audits. 2) Audit-related fees – fees for assurance and related services that are reasonably related to the perfor- mance of the audit of the financial statements of the Group and subsidiaries and that are traditio- nally performed by the external auditors. 3) T ax fees – fees for transfer pricing, tax-compliance services, tax consultations and advice related to acquisitions, divestments and other projects and assistance with tax audits. 4) All other fees – fees for other services. Audit fees for PwC Sweden amounted to SEK –8 m (–4) in 2025, and fees for audit-related consulting services to SEK –1 m (0). NOTES 152DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 8 Right-of-use assets 2025 Buildings Machinery, vehicles, other equipment Total Acquisition costs Opening balance 2,749 153 2,902 Additions/changes 257 67 324 Cancellations –117 –37 –154 Exchange rate differences –359 –16 –375 Closing balance 2,530 167 2,697 Depreciation Opening balance –955 –70 –1,025 Depreciation and impairment for the year 1) –310 –40 –350 Cancellations 108 35 143 Exchange rate differences 78 5 84 Closing balance –1,079 –70 –1,148 Net carrying amount December 31, 2025 1,451 97 1,550 2024 Buildings Machinery, vehicles, other equipment Total Acquisition costs Opening balance 2,767 127 2,893 Additions/changes during the year 186 64 250 Cancellations –395 –44 –439 Exchange rate differences 191 7 199 Closing balance 2,749 153 2,903 Depreciation Opening balance –865 –74 –939 Depreciation and impairment for the year 1) –350 –35 –385 Cancellations 302 43 345 Exchange rate differences –42 –4 –46 Closing balance –955 –70 –1,025 Net carrying amount December 31, 2024 1,794 84 1,878 1) Depreciation and impairment consist entirely of depreciation. Leasing agreements The Group has entered into lease agreements as a lessee for some of its buildings, machinery , vehicles and other equipment. Lease agreements normally have a fixed term of 1 to 3 years for machinery , vehicles and other equipment and 5 to 10 years for buildings. Extension options are included in the lease term for buildings when it is reaso- nably certain that they will be exercised. If the lease term expires within 3 years, it is assumed to be reasonably certain that the extension option will be utilized and therefore included in the lease term, however extension options are not included for leasing terms of buildings exceeding 3 years. Leases are recognized as a right-of-use asset and a corresponding liability , except for short-term leases (with a term of 12 months or less) and leases with low value where the Group applies the exemption rule. For these leases, payments are recognized as incurred in the income statement. For this reason, all IT and office equipment are classified as low-value assets and are not included in the balance sheet. Costs for leases of low value and short-term leases amounted to SEK 50 m (68). Variable lease costs amounted to SEK 28 m (60). The Group recognizes right-of-use lease assets and lease liabilities separately from other assets and other liabilities in the balance sheet. The Group uses the practical expedient for non-lease components, which means that each lease component and any associated non-lease component will not be treated separately but for as one unit. Measurement and remeasurement Lease liabilities are initially measured at the present value of the future lease payments, fixed and variable depending on an index or a rate, discounted by the incremental borrowing rate. Each lease payment is allocated between an amortization of the liability and interest cost. The maturity analysis of lease liabilities is presented in note 3 and interest expense on leases is presented in note 11. Lease liabilities are remeasured when there is a change in future lease payments arising from a change in an index, a rate or the term of the lease. Right-of-use assets are measured at cost, comprising the amount of the initial measurement of the lease liability , lease payments made at or before the commen- cement date and any initial direct costs and any restoration costs. The right-of-use asset is depreciated over the lease term on a straight-line basis and charged to the income statement over the lease period. When there is a remeasurement of, or adjustment to the lease liability , a corres- ponding adjustment is made to the right-of-use asset. The discount rate Dometic has established a method of calculating the discount rate when deter- mining the present value of the remaining lease payments and in recognizing leasing liabilities. Lease contracts for different types of assets are assigned different discount factors, since the risk and thus the finance cost may vary significantly . Other adjusting factors for the rate are the currency and the time to maturity of the lease. Eurozone countries are deemed to have the same risk, as borrowing and lending internally within the Group apply the same rate for all eurozone countries. The underlying observable market data consists of government bonds. Cash flow Lease payments under IFRS 16 are split in the cash flow between cash payments for the interest portion of the lease liabilities and repayment of its principal portion. The Group presents the principal portion of lease payments within the cash flows from financing activities, as required by IFRS 16. Cash payment for the interest portion is treated the same way as the presentation of interest payments of the Group. Short-term payments, payments for leases of low-value assets and variable lease payments not included in the measurement of the lease liability are not shown separately but are included in payments to suppliers. Total cash flow from lease agreements mounted to SEK 413 m (602). NOTES 153DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 9 Employee benefit expense and remuneration Salaries, wages, other remuneration and social security costs Group Parent Employee benefits 2025 2024 2025 2024 Salaries and remunerations –3,639 –3,943 –61 –68 Social security costs –499 –527 –20 –21 Pension costs – defined contribution plans –95 –103 –4 –5 – defined benefit plans –13 –9 0 0 Other personnel costs –401 –550 –3 –2 Total –4,647 –5,131 –88 –96 Remuneration is applied based on local market conditions and collective agre- ements. The total cost for employee benefits in 2025 amounted to SEK 4,647 m (5,131). Remuneration to the Board of Directors Remuneration to the Board of Directors approved by the 2025 annual general shareholders’ meeting SEK thousand Fredrik Cappelen, Chairman of the Board 1,547 Mengmeng Du, Board member 500 Patrik Frisk, Board member and Chairman Remuneration Committee 596 Jacqueline Hoogerbrugge, Board member 608 Erik Olsson, former Board member 1) 176 Rainer E. Schmückle, Board member 557 Peter Sjölander, Board member, Chairman Audit Committee 680 Heléne Vibbleus, Board member 525 Total remuneration to the Board of Directors 5,188 1) Erik Olsson was a Board member until the 2025 annual shareholders’ meeting. Remuneration to the Board of Directors approved by the 2024 annual general shareholders’ meeting SEK thousand Fredrik Cappelen, Chairman of the Board and Chairman Remuneration Committee 1,436 Mengmeng Du, Board member 481 Patrik Frisk, Board member 536 Jacqueline Hoogerbrugge, Board member 580 Erik Olsson, Board member and Chairman Audit Committee 699 Rainer E. Schmückle, Board member 536 Peter Sjölander, Board member 481 Heléne Vibbleus, Board member 580 Total remuneration to the Board of Directors 5,328 Remuneration to representatives in the Board of Directors for Board and Commit- tee amounted to SEK 5,188 thousand (5,328). Remuneration for the Committee work (Audit Committee and Remuneration Committee) until the next annual shareholders’ meeting amounts to SEK 684 thousand in total (of which SEK 240 thousand to the chairman of the Audit Committee, SEK 110 thousand to the chair- man of the Remuneration Committee, SEK 110 thousand to each Audit Committee member and SEK 57 thousand to each Remuneration Committee member). No additional remuneration or pension was paid to the Board of Directors during the current or previous year. As at December 31, 2025, the Group Management consisted of the CEO and nine other members. The roles represented in Group Management, which directly report to the CEO, are Presidents for the three biggest segment Presidents and the Heads of the Group functions: Business Development, Finance, Human Resour- ces, Legal, Marketing, Operations and Product Development. The CEO also had an acting role as Head of the Land Vehicles segment. The annual shareholders’ meeting, which was held on April 15, 2025, determi- ned the guidelines which shall apply in relation to remuneration to the CEO and other members of Group Management. Current employment agreements and remunerations are based on the Remuneration Guidelines for the CEO and Group Management. A prerequisite for the successful implementation of the Dometic’ s business strategy and safeguarding of its long-term interests, including its sustainability , is that Dometic is able to recruit and retain qualified personnel. To this end, it is necessary that competitive remuneration is offered. The total remuneration shall be based on the position held, individual performance, performance of Dometic and be competitive in the country of employment. The overall remuneration package may consist of the following components: • Fixed base salary . • Short-term incentives (STI) linked to yearly business targets established by the Board of Directors. • Long-term incentives (LTI) in the form of a three-year cash-based incentive plan linked to EPS development and the outcome of the program’ s ESG goals. • Pensions, (if possible defined contribution plans), which do not exceed – 35 % of the base salary for Group Management members and – 40 % for the CEO. • Other benefits associated with the position. The salaries and remuneration to the CEO and Group Management in 2025 amounted to SEK 99,198 thousand (96,784). Dometic’ s short- and long-term incentive programs are included in the reported variable pay . Other benefits include allowances and benefits associated with the position, such as company car or car allowance and healthcare benefits. Pension benefits Group Management agreements concerning pensions are, where possible, defined-contribution pension plans. All pension plans provided are defined as a percentage of the fixed salary . According to the Remuneration Policy for the CEO and Group Management, the pension shall reflect regulations and practice in the country of employment and not exceed 35% of the annual base salary for the Group Management members and 40% for the CEO. The Group Management members employed in Sweden are either covered by a defined-contribution plan or by the relevant ITP plan. General retirement age is 65. Contributions to the pension will cease when leaving the company . Total pension expenses paid for the CEO and Group Management during 2025 amounted to SEK 12,185 thousand (12,820). NOTES 154DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 9 (cont.) Notice of termination and severance pay Members of Group Management have a 6 months’ notice period when notice is given by the employee. In case of dismissal of employees at the initiative of Dometic, the notice period is between 6 and 12 months. The CEO has 12 months’ notice at the initiative of Dometic, as well as a 12 month’ s severance period. Severance pay shall not form a basis for vacation pay or pension benefits. Local employment laws and regulations may influence the terms and conditions for notice given by Dometic. Remuneration for the CEO and Group Management 2025 SEK thousand Annual fixed salary Variable salary Other benefits Pension contribution Total President and CEO 12,350 10,008 930 4,669 27,957 Other members of Group Management 39,750 19,853 4,121 7,517 71,241 Total 52,100 29,861 5,051 12,185 99,198 2024 SEK thousand Annual fixed salary Variable salary Other benefits Pension contribution Total President and CEO 11,418 7,252 1,041 4,522 24,233 Other members of Group Management 44,978 14,561 4,714 8,298 72,551 Total 56,396 21,813 5,755 12,820 96,784 Salaries and remunerations to senior executives and other employees Salaries and remunerations to senior executives and other employees Group 2025 2024 Board, president and other senior executives 92 89 Other employees 3,546 3,853 Total 3,639 3,943 Average number of employees and gender distribution The average number of employees in Dometic during the period January 1 to December 31, 2025 was 7 ,164 (7 ,558). Of the total number of employees, 38% are women. In the Group Management team, 3 executives out of 11 are women. Gender distribution for the Board of Directors and Group Management December 31, 2025 December 31, 2024 Number at balance sheet date Of which men Number at balance sheet date Of which men Group (including subsidiaries) Board members 7 4 8 5 CEO and other senior executives 11 8 12 8 Group total 18 12 20 13 2025 2024 Average number of employees Of which men, % Average number of employees Of which men, % Parent Company Sweden 8 63 8 63 Total 8 63 8 63 2025 2024 Average number of employees Of which men, % Average number of employees Of which men, % Subsidiaries Australia 176 72 187 70 Austria 3 80 4 77 Belgium 3 100 3 100 Canada 464 74 500 74 China 1,123 61 1,250 61 Denmark 12 84 13 86 Finland 5 60 5 63 France 50 51 51 50 Germany 840 67 886 67 Hong Kong 55 42 63 42 Hungary 315 58 375 61 Italy 155 73 151 75 Japan 16 72 16 72 Korea 5 44 7 50 Mexico 304 50 289 52 Netherlands 52 63 55 67 New Zealand 11 75 11 73 Norway 8 80 9 78 Poland 20 55 22 55 Portugal 1 100 0 0 Russia 1 100 2 100 Singapore 6 53 6 54 Slovakia 138 65 160 63 South Africa 289 75 321 76 Spain 21 49 21 48 Sweden 311 60 312 62 Switzerland 3 67 3 69 United Arab Emirates 12 68 13 69 United Kingdom 180 59 186 60 United States 2,576 59 2,630 64 Group total 7,164 62 7,558 64 NOTES 155DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 10 Other operating income and expenses Other operating income 2025 2024 Gain on disposal of fixed assets 6 2 Exchange rate effect changes 30 55 Insurance compensation 23 0 Royalties 12 15 Other 1) 66 149 Total 137 221 Other operating expenses 2025 2024 Loss on disposal of fixed assets –5 –2 Exchange rate effect changes –91 –78 Acquisition-related transaction costs 0 –1 Legal costs –46 –55 Other –14 –3 Total –156 –139 Other operating income and expenses –19 82 1) Other within Other operating income for 2024 refers partly to a positive one-time effect of SEK 63 m relating to the repayment of customs duties, which constitutes the main change compared with the previous year. Parent Company Other operating income amounts to SEK 245 m (247) of which the full amount relates to income from Group companies. NOTE 11 Financial income and expenses Group 2025 2024 Interest income 208 151 Total financial income 208 151 Interest expenses, borrowing –814 –838 Interest expense on pension liabilities and expected return on plan assets –19 –21 Interest expense leases –109 –120 Net change in fair value of transferred receivables –6 – Capitalized transaction costs –27 –20 Exchange rate difference, net –45 41 Other financial expenses –39 –40 Total financial expenses –1,058 –998 Net financial expenses –850 –847 Interest income is recognized on a time-proportion basis using the effective interest method. Parent Company 2025 2024 Interest income, Group companies 516 741 Interest income, other 1 4 Dividend from Group companies – 1,800 Total financial income 517 2,546 Interest expenses, borrowing –740 –812 Capitalized transaction costs –27 –20 Exchange rate difference, net 392 –232 Other financial expenses –39 –30 Total financial expenses –414 –1,094 Net financial expenses 103 1,451 NOTES 156DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 12 Taxes Group Parent 2025 2024 2025 2024 Current tax on profit for the year –395 –790 – – Current tax prior year 41 66 13 – Deferred tax income/expense –68 392 –65 14 Total tax –422 –332 –52 14 The tax expense for the period comprises current and deferred tax. T ax is recog- nized in the income statement, except to the extent that it relates to items which are recognized in equity under other comprehensive income. In this case the tax amount is also recognized in equity under other comprehensive income. Current and deferred tax is calculated on the basis of the tax laws enacted or substantively enacted on the balance sheet date in the countries where the Company’ s subsidiaries and associates operate. Deferred tax is recognized, using the balance sheet liability method, on tempo- rary differences arising when the reported carrying amounts of assets and liabilities differ from the corresponding tax base values. The Group has recognized a deferred tax asset of SEK 936 m (687) as of December 31, 2025 attributable to tax losses carried forwards. These tax losses mainly relate to losses in Sweden and can be used without time limit to offset future taxable profits. Deferred tax assets related to tax losses carried forward are recog- nized only if it is probable that future taxable profit will be available, against which the tax losses may be utilized. The basis for this assessment is the Group’ s strategic business plan. The forecast indicates future taxable profits, and executive manage- ment believes that the assumptions used are realistic and achievable. At the same time, there is always a natural uncertainty when making forecasts. If future results indicate that taxable profits are further ahead than forecasted, this may imply a risk that Dometic will not be able to capitalize further losses (if any) or an impairment of the deferred tax asset may be necessary . Deferred tax assets and tax liabilities are offset when the conditions for offsetting are satisfied. The tax expense is negatively affected by non-deductible interest expenses in Sweden and a provision for ongoing tax audits. The difference between the reported tax expense and the expected tax expense based on weighted tax rates is explained in the table below. Group Parent 2025 2024 2025 2024 Profit (loss) before tax 850 –1,970 –16 1,629 Weighted average tax –263 –73 3 –336 Effects of: Change in tax rates –12 – – – Non-taxable income and other tax credits1) 37 32 – 370 Non-deductible expenses –97 –88 –41 –28 Current tax prior year 41 66 13 – Withholding tax –28 –84 – – Utilization of previously unrecognized tax losses/credits 16 0 – – Tax losses and credits for which no deferred tax was recognized –18 –38 – – Deferred tax on loss carry-forwards/ tax credits relating to previous years –32 –8 –27 – Recognition of deferred tax related to prior year tax losses/credits –5 –101 – – Other differences –61 –38 – 8 Total tax –422 –332 –52 14 Weighted average tax rate: 30.9% –3.7% 20.6% 20.6% 1) Non-taxable income includes, inter alia, other tax credits that primarily consist of tax incentives for research and development. The weighted average tax rate for the Group is calculated based on a weighting of the Group’ s result before income taxes multiplied by the local corporate income tax rate, per country of operation. The weighted average tax rate for the Parent Company corresponds to the statutory corporate tax rate in Sweden. The Group’ s temporary differences have resulted in deferred tax assets and liabilities for the items in the table below. Group Parent 2025 2024 2025 2024 Deferred tax assets Intangible assets – – – – Pension obligations 50 70 – 19 Tax losses and credits 1,115 915 0 47 Provisions 108 244 – – Inventory 75 312 – – Leasing liabilities 441 550 – – Hedge accounting 0 3 – – Operating liabilities 34 15 – – Other assets and liabilities 7 21 – – Total deferred tax assets, before netting 1,830 2,130 0 66 Netting of deferred tax –806 –1,039 – – Net deferred tax asset 1,024 1,091 0 66 Deferred tax liabilities Trademarks –1,197 –1,493 – – Other intangible assets –1,539 –1,940 – – Tangible assets – –7 – – Right of use assets –373 –476 – – Hedge accounting 0 –3 – – Other long-term liabilities –89 –133 – – Other assets and liabilities –388 –78 – – Total deferred tax liabilities, before netting –3,587 –4,130 – – Netting of deferred tax 806 1,039 – – Net deferred tax liabilities –2,781 –3,091 – – Net deferred tax liabilities and assets –1,757 –2,000 0 66 NOTES 157DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 12 (cont.) Group Parent Change in net deferred tax 2025 2024 2025 2024 Opening balance –2,000 –2,234 66 52 Recognized in other comprehensive income –86 38 – – Recognized in the income statement –66 392 –66 14 Exchange rate differences 398 –197 – – Closing balance –1,756 –2,000 0 66 Of the deferred tax recognized in equity amounting to SEK –86 m (38), SEK 3 m (–6) concerns pensions and SEK –83 m (44) concerns financial instruments. Both amounts are net amounts. At the end of the period, the total tax losses carried forward for which no deferred tax assets are recognized are calculated to be SEK 158 m (40). The tables on the right show the expiry dates for the Group’ s and Parent Company’ s tax losses and tax credits, respectively . Group Parent Expiry date, tax losses 2025 2024 2025 2024 Expiring next fiscal year – – – – Expiring 2–5 years after date of close – – – – Expiring later 1 2 – – Tax losses without time restraints 4,476 3,328 0 226 Total 4,477 3,330 0 226 Group Parent Expiry dates, tax credits 2025 2024 2025 2024 Expiring next fiscal year 159 61 153 61 Expiring 2 years after date of close 31 156 15 153 Expiring 3 years after date of close 130 31 130 15 Expiring 4 years after date of close 211 183 114 130 Expiring 5 years after date of close 349 239 201 114 Expiring later – – – Unused tax credits without time restraints 765 947 – – Total 1,645 1,617 613 473 Global minimum tax (Pillar 2) The Group is subject to the OECD’ s model rules for a global minimum tax (Pillar 2). These rules have been introduced into Swedish law through the Top-up T ax Act (”lag om tilläggsskatt”), which entered into force on January 1, 2024, and are based on the OECD model rules and EU Directive 2022/2523. According to the rules, the Group should pay top-up tax in Sweden corresponding to the difference between the effective tax rate per jurisdiction, calculated based on provisions in the act, and the statutory minimum tax rate of 15%. Under certain circumstances, the Group may also be allowed to apply safe harbor rules that allow the top-up tax for a jurisdiction to be deemed to be zero, without requiring a complete calculation. The Group is currently evaluating the consequences of the Swedish Pillar 2 regulations and corresponding local regulations in relevant jurisdictions for 2025. Based on the underlying information that the Group will build its 2025 coun- try-by-country report on, it is Group Management’ s assessment that the Group’ s exposure to taxes related to Pillar 2 regulations should be limited. NOTES 158DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 13 Other non-current assets December 31, 2025 December 31, 2024 Shares and participation in associated companies 6 7 Capital insurance 126 119 Other 79 122 Total other non-current assets 211 248 Parent Company Other non-current assets in the Parent Company consist of capital insurance of SEK 88 m (78). NOTE 14 Intangible assets Goodwill Goodwill represents to which extent the costs of the acquisition exceeds the fair value of the Group’ s share of the identified net assets at the date of acquisition. Separately recognized goodwill is tested annually for impairment and recognized at acquisition costs less accumulated impairment losses. Any impairment is recog- nized immediately as an expense and is not subsequently reversed. Trademarks Acquired trademarks are shown at acquisition cost. All trademarks within Dometic with a value on the balance sheet have been identified as part of the strategic planning process. Trademarks that have been determined to have an indefinite useful life are not depreciated but are tested for impairment annually . Trademarks which have been determined to have a defined useful life are amortized up to 10 years. The Group’ s trademarks include, among others, Dometic, SeaStar, WAECO, Mobicool and Igloo. Dometic Group continuously evaluates its trademark portfo- lio development. Other acquisition-related intangible assets Customer relationships, technology and intellectual property (IP) acquired through a business combination is recognized at cost, which corresponds to their fair values at the time of acquisition. These assets have a determinable useful life and are carried at the initial value less accumulated amortization and impairment. Amortization is calculated using the straight-line method to allocate the value of customer relationships, technology and intellectual property over their estimated useful lives. The following useful life periods are applied: • Customer relationships up to 25 years • T echnology up to 25 years • Intellectual property and other rights 7 years Other intangible assets/capitalized development expenses Research expenditures are recognized as an expense as incurred. Expenditures for development projects are capitalized as intangible assets only if certain criteria are met. Other development expenditures that do not meet the criteria for capitalization are recognized as an expense as incurred. Expenditures for development projects that are capitalized are amortized on a linear basis over their useful life from the time when it is available for use. The amortization period normally equals 5 years. Costs associated with maintaining computer software programs are recognized as an expense as incurred. Development costs that are directly attributable to the design and testing of identifiable and unique software products controlled by Dometic are recognized as intangible assets when certain criteria are met. Com- puter software development costs recognized as assets are amortized over their estimated useful lives, which are not expected to exceed 3 years. Criteria for capitalization of development costs: • it is technically feasible to complete the asset so that it can be used • management’ s intention is to complete the asset and use or sell it • opportunities to use or sell the asset exist • it can be demonstrated how the asset will generate future economic benefits • there are adequate technical, financial and other resources to complete, use or sell the asset • costs associated with the asset during the development phase can be reliably measured. Other intangible assets, such as patents and other rights that are capitalized are amortized on a straight-line basis over their estimated useful lives, which are normally 5 to 10 years. Other intangible assets consist of customer relations, technology , intangible assets and other rights, capitalized development expenses and other intangible assets, which amounts to SEK 5,378 m (6,795). NOTES 159DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 14 (cont.) Other intangible assets 2024 Goodwill Trade- marks Customer relations Techno- logy Intellectual property rights Capitalized development expenses Other intan- gible assets Total Acquisition costs Opening balance 21,267 6,100 7,595 1,270 180 194 522 37,128 Acquired in business combinations – – – – – – – – Investments for the year – – – 6 3 46 11 67 Sales and divestitures – – – – – – –6 –6 Reclassifications – – – – – – 2 2 Exchange rate differences 1,394 400 629 61 0 0 22 2,507 Closing balance 22,661 6,500 8,223 1,337 184 240 550 39,696 Amortization Opening balance – –333 –1,897 –352 –165 –91 –435 –3,272 Acquired in business combinations – – – – – – – – Sales and divestitures – – – – – – 6 6 Amortization for the year – –55 –465 –70 –3 –10 –47 –650 Reclassifications – – – – – – – – Exchange rate differences – –17 –170 –20 0 –1 –21 –229 Closing balance – –405 –2,531 –442 –168 –102 –497 –4,145 Impairment Opening balance – – – – – – – – Impairment charge for the year –2,000 – – – – – – –2,000 Exchange rate differences – – – – – – – – Closing balance –2,000 – – – – – – –2,000 Net carrying amount December 31, 2024 20,661 6,095 5,692 895 16 138 53 33,551 Other intangible assets 2025 Goodwill Trade- marks Customer relations Techno- logy Intellectual property rights Capitalized development expenses Other intan- gible assets Total Acquisition costs Opening balance 22,261 6,500 8,223 1,337 184 240 550 39,696 Acquired in business combinations – – – – – – – – Investments for the year – – – – 2 33 32 66 Sales and divestitures – – – – – – –2 –2 Reclassifications – – – – – – 4 4 Exchange rate differences –2,914 –867 –1,245 –188 –3 –1 28 –5,189 Closing balance 19,747 5,633 6,978 1,149 183 272 612 34,575 Amortization Opening balance – –405 –2,531 –442 –168 –102 –497 –4,145 Acquired in business combinations – – – – – – – – Sales and divestitures – – – – – – 2 2 Amortization for the year – –44 –427 –52 –3 –14 –26 –566 Reclassifications – – – – – – – – Exchange rate differences – 46 404 67 –1 1 –29 489 Closing balance – –403 –2,553 –427 –171 –115 –550 –4,221 Impairment Opening balance –2,000 – – – – – – –2,000 Impairment charge for the year – – – – – – – – Exchange rate differences 227 – – – – – – 227 Closing balance –1,733 – – – – – – –1,733 Net carrying amount December 31, 2025 17,974 5,230 4,425 722 12 157 62 28,582 NOTES 160DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 14 (cont.) Amortization and impairment for the year Amortization Total amortization for the year related to intangible assets amounts to SEK –566 m (–650). The decrease compared to last year mainly relate to lower amortization of trademarks related to acquisitions. Amortization of capitalized development costs and other intangible assets have impacted cost of sales by SEK –40 m (–57). Impairment No impairment losses were recognized during the year. Based on impairment testing in the third quarter of 2024, an impairment loss of SEK 2,000 m was recognized in the cash-generating unit Land Vehicles Americas. Amortization and impairment of acquisition-related intangible assets The amortization and impairment of acquisition-related intangible assets is speci- fied in the table below. 2025 2024 Amortization of trademarks –44 –55 Amortization of customer relationships –427 –465 Amortization technology –52 –70 Amortization of intellectual property and other rights –3 –3 Impairment of goodwill – –2,000 Amortization and impairment of acquisition- related intangible assets –526 –2,593 Goodwill and Trademarks Cash generating units Goodwill & Trademarks Discount rate 2025 2024 2025 2024 Land Vehicles 8,447 9,487 Land Vehicles Americas 2,592 3,114 8.2% 8.7% Land Vehicles EMEA 3,966 4,256 6.7% 6.7% Land Vehicles APAC 1,890 2,117 7.8% 8.2% Marine 6,991 8,251 8.1% 8.1% Mobile Cooling Solutions 5,337 6,254 8.8% 8.4% Global Ventures 2,429 2,764 7.5% 7.8% Group total 23,204 26,756 Impairment test goodwill and trademarks Dometic holds assets in the form of goodwill and acquired trademarks that are determined to have an indefinite useful life, which are not amortized on an on going basis. On a yearly basis, or whenever indications of impairment arise that the carrying amount may not be recoverable, an impairment test of these assets is per- formed. The recoverable amount of discounted cash flow calculations over a 5-year period is determined by using the value in use method. Discounted cash flows for the respective cash-generating units are compared with the carrying amount, and if the carrying amount exceeds the value of the discounted cash flows, an impairment may exist. Dometic performs impairment testing at the segment level for the segments Marine, Mobile Cooling Solutions and Global Ventures and at the geographical level for Land Vehicles in the form of Land Vehicles Americas, Land Vehicles EMEA and Land Vehicles APAC. The Group’ s cash generating units are: Land Vehicles Americas, Land Vehicles EMEA, Land Vehicles APAC, Marine, Mobile Cooling Solutions and Global Ventures. Dometic’ s business planning also includes climate-related transition and physical risks, which are also included in the plans forming the basis for estimated future cash flows in impairment tests and assessment of useful lives. During 2025, climate-related risks did not have a material impact on operations or the financial statements. As a result, there have been no isolated adjustments/estimates in the future cash flows used for the valuation of intangible assets or adjustment of useful lives. Based on this, no specific climate-related sensitivity analyses related to risk have been undertaken. Impairment testing of goodwill and trademarks has been carried out during the third quarter of the year without showing any indication of impairment, which was further confirmed during the fourth quarter. Key assumptions in valuation The weighted average cost of capital (WACC) rates are based on equity beta set in comparison with peer companies. Local prerequisites for each region’ s inflation, regional long-term bonds and regional market risk are the basis for the return on equity . This, together with the Group capital structure, generates a discount rate that Group Management concludes to be adequate. The discount rate for the Group’ s cash-generating units varies between 6.7% (6.7) and 8.8% (8.7). The discount rate before tax can normally not be measured or observed directly , rather it is calculated through iteration. This is performed by first calculating the discounted cash flows post tax with a discount rate post tax, and subsequently determining what the discount rate pre tax would need to be used in order for the value in use to be the same as when performing calculations on discounted cash flows post tax. Budget and estimates are based on reasonable assumptions by segment of important areas such as volume, price and mix, which will create a basis for future growth and gross margin. These figures are set in relation to past performance and external reports on market growth in the industries in which Dometic operates. The calculations use 5-year cash flow projections. The first year of the 5-year strategic plan approved by Management is aligned with the financial budget approved by the Board of Directors. Growth beyond the 5-year period amounts to 2% for all cash-generating units. This growth assumption set in comparison to GDP for Dometic’ s main markets U.S., Europe and Australia can be considered relevant and conservative. Impact of possible changes in key assumptions The calculations are based on Group Management’ s consideration and assess- ment of a reasonable possible change of cost of capital and growth given the current macroeconomic environment and geopolitical uncertainty . By applying a 1% higher discount rate or a 0.5% lower estimated perpetual growth rate to forecast the cash flows for each cash-generating unit, there is no indication of impairment for Land Vehicles EMEA, Land Vehicles APAC, Marine and Global Ventures. However, management notes that the cash-generating units Land Vehicles Americas and Mobile Cooling Solutions are sensitive to changes in key assumptions, and their carrying values are monitored on an ongoing basis. Dometic assesses that based on the assumptions applied, no need for impairment exists. See further in note 4. Parent Company There are no other intangible assets in the parent company (–). NOTES 161DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 15 Tangible fixed assets 2024 Land and land impro- vements Buildings Machinery and other technical installations Equipment and installations Tools Construction in progress and advance payment to suppliers Total Acquisition costs Opening balance 270 1,285 2,787 646 2,166 215 7,369 Investments for the year – 7 20 25 35 225 312 Sales and divestitures – –4 –77 –46 –119 – –246 Reclassifications 1 34 142 5 55 –238 –1 Exchange rate differences 17 90 179 32 149 13 479 Closing balance 287 1,412 3,051 662 2,286 215 7,913 Depreciation Opening balance –15 –563 –1,795 –528 –1,778 – –4,678 Sales and divestitures – 3 73 42 117 – 235 Depreciation for the year –2 –72 –191 –38 –172 – –475 Reclassifications – – – –3 3 – 1 Exchange rate differences –1 –40 –115 –27 –126 – –309 Closing balance –18 –671 –2,028 –554 –1,955 – –5,227 Impairment Opening balance –38 –109 –23 –10 –18 – –197 Impairment charge for the year – –1 –42 – –23 – –67 Sales and divestitures – – – 2 – – 2 Exchange rate differences – –2 –2 – –1 – –4 Closing balance –38 –112 –67 –9 –41 – –266 Net carrying amount December 31, 2024 232 629 956 99 290 215 2,421 2025 Land and land impro- vements Buildings Machinery and other technical installations Equipment and installations Tools Construction in progress and advance payment to suppliers Total Acquisition costs Opening balance 287 1,412 3,051 662 2,286 215 7,913 Investments for the year – 3 5 15 58 215 296 Sales and divestitures –4 –8 –81 –44 –254 –12 –403 Reclassifications – 63 90 13 73 –243 –4 Exchange rate differences –34 –183 –377 –61 –276 –28 –959 Closing balance 249 1,288 2,688 584 1,887 147 6,843 Depreciation Opening balance –18 –671 –2,028 –554 –1,955 – –5,227 Sales and divestitures 2 6 66 39 238 – 351 Depreciation for the year –1 –66 –169 –32 –126 – –394 Reclassifications – – –3 3 – – – Exchange rate differences –3 –89 250 53 242 – 637 Closing balance –14 –642 –1,884 –493 –1,602 – –4,635 Impairment Opening balance –38 –112 –67 –9 –41 – –266 Impairment charge for the year – – –2 – – – –2 Sales and divestitures – – 13 – 2 – 15 Exchange rate differences – 3 6 – 16 – 25 Closing balance –38 –109 –50 –9 –22 – –227 Net carrying amount December 31, 2025 197 537 754 84 263 147 1,981 Depreciation for the year In the consolidated income statement, the total depreciation of SEK 394 m (475) are allocated to cost of goods sold SEK 358 m (442), sales expenses SEK 10 m (5) and administrative expenses SEK 20 m (23) and research and development expenses of SEK 6 m (5). NOTES 162DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 15 (cont.) Tangible assets Land and buildings comprise mainly factories and offices. Land and buildings are recognized at acquisition value, reduced by subsequent depreciation of buildings. Subsequent costs are included in the asset’ s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably . All other repairs and maintenance are recognized in the income statement during the financial period in which they incur. Land is not depreciated, as it is considered to have an unlimited useful life. The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period. The following useful life periods are normally applied by the Group for tangible assets: • Buildings 20–40 years • Machinery 6–15 years • Vehicles 5 years • Equipment 3–10 years • Tools 5 years An asset’ s carrying amount is written down to its recoverable amount if the asset’ s carrying amount is higher than its estimated recoverable amount. Gains and losses on divestitures are determined by comparing the proceeds with the carrying amount and are recognized in the income statement. Parent Company Equipment in the Parent Company amounts to SEK 1 m (1). NOTE 16 Inventories December 31, 2025 December 31, 2024 Acquisition value inventories Raw materials and consumables and products in progress 1,696 2,282 Finished products 3,636 5,153 Advances to suppliers 89 80 Total inventories before obsolescence 5,421 7,515 Provisions for obsolescence Raw materials and consumables and products in progress –216 –458 Finished products –377 –602 Total provisions for obsolescence –593 –1,060 Book value inventories Raw materials and consumables and products in progress 1,480 1,824 Finished products 3,260 4,551 Advances to suppliers 89 80 Total inventories 4,828 6,455 Inventories are valued at the lowest of cost and net realizable value. Cost is determined using the first-in, first-out method. The cost of finished goods and work in progress comprises raw materials, direct labor, other direct costs and related indirect production overheads (based on normal operating capacity). Borrowing costs are not included. Net realizable value is the estimated selling price in the ordinary course of business, less applicable variable selling expenses. If the estimated net realizable value is lower than the cost, a write-down of inventories is made and included in the inventory value (obsolescence). The calculation of net realizable value is based on an estimate of a future selling price, which is affected by several parameters, such as market demand. See further in note 4. Provisions for obsolescence (write-down inventory) are included in the value for inventory . The change in impairment to net realizable value had an impact of SEK 70 m (–527) on net result. Reversal of previous write-downs to net realizable value has been made by SEK 268 m (204), and a currency effect of SEK 129 m (–63) also affected the change in the provision. The main reason for the reversals was discarded products for which an impairment loss had already been recognized. NOTE 17 Trade Receivables December 31, 2025 December 31, 2024 Trade receivables 1,915 2,401 Provision for expected credit losses –66 –101 Trade receivables – net 1,849 2,300 Provision for expected credit losses December 31, 2025 December 31, 2024 Opening balance –101 –125 Provision for expected credit losses for the year –27 –16 Reversal due to confirmed bad debts 38 42 Unused amounts reversed 11 8 Exchange rate differences and other changes 13 –10 Closing balance –66 –101 Aging analysis of trade receivables December 31, 2025 December 31, 2024 Trade receivables, not due 1,652 1,970 Past due: Less than 1 month 107 206 1–6 months 102 141 6–12 months 22 22 More than 12 months 32 62 Total past due 263 431 Provision for expected credit losses –66 –101 Trade receivables – net 1,849 2,300 Trade receivables consist of amounts due from customers in the ordinary course of business and are expected to be settled within 12 months. Trade receivables are recognized at transaction price, less provision for expected credit losses. NOTES 163DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 17 (cont.) Expected credit losses on trade receivables As of December 31, 2025, provisions for expected credit losses for the Group’ s trade receivables amounted to SEK 66 m (101). The Group’ s impairment methodology for financial assets is a credit loss matrix that is designed in accordance with the impairment model for financial assets in IFRS 9. To support and harmonize efforts within the Group, Group Management has introduced a calculation matrix for calculating expected credit losses. Expec- ted credit losses are recognized over the expected life of the trade receivables. Historical information about Group companies, regarding credit loss experience and aging, is used to forecast future credit losses. In addition, current and for- ward-looking information about Group companies is used to create a picture of current and expected future losses. The Group applies the simplified approach to measure expected credit losses for trade receivables over their lifetime to manage loss provisions at each balance sheet date. Credit risk in trade receivables Credit risk is divided into two categories: credit risk in trade receivables and financial credit risk. See also note 3 for financial credit risk. The Group does not have a significant credit risk relating to trade receivables. The Group has established policies to ensure that products are sold to clients with favorable payment history . Dometic uses credit reports to establish credit limits on new clients. For a large part of Europe, the Group uses credit insurance to limit the credit risk and to get credit information regarding clients. Letters of credit are used as a method for securing payments from customers operating in emerging markets, in particular markets with unstable political and/ or economic environments. By having banks confirm the letters of credit, credit risk exposures to the Group are mitigated. Provisions for expected credit losses are evaluated on a regular basis. Transferred trade receivables Dometic has entered into agreements in December 2025 for transferred trade receivables whereby the Group can choose to transfer its trade receivables in the U.S. and Germany to the purchaser. The agreements gives the right but not the obligation to transfer trade receivables. The contract runs for one year and is renewed annually . These receivables are recognized at fair value in the income statement, on a continuing involvement basis. See further in note 2. Trade receivables transferred but not fully derecognized Continued involvement: Trade receivables and associated liabilities December 31, 2025 December 31, 2024 Trade receivables, total gross carrying amount before transfer 431 – Total trade receivables before transfer 431 – Continued involvement: Trade receivables, carrying amount, corresponding to continued involvement 82 – Associated liabilites, carrying amount, corresponding continued involvement –10 – Net book value, continued involvement 72 – At transfer of the trade receivables, the Group has remaining limited credit risks as well as interest expenses on customers’ late payments. These residual risks are deemed to be of sufficient value to the counterparty to effectively prevent the counterparty from further selling the transferred claims. Accordingly , the Group recognizes transferred trade receivables on a continuing involvement basis, and partially derecognizes the carrying amount, while as well recognizes an associated liability . The Group’ s maximum credit risk for transferred receivables is limited to 2.7% of the transferred receivables (“non recourse”) and initially in the transaction this amount is deducted from the purchase price. As a result, the Group has no obligation to pay additional cash flows in respect of credit risk, other than the amount that initially reduced the purchase price. Where actual credit losses are less than the Group’ s contractual obligation, the Group receives a payment on this difference, as part of the net settlement between the parties. There is a right for the counterparty to claim a reserve corresponding to outstanding credit invoices, but this is not currently the case. In the event that the Group chooses not to continue to transfer trade receiva- bles, the Groups assesment is that there is no further net payment obligation, other than to pass on the cash flow from customer payments relating to transferred recei- vables. The remaining obligations are expected to be settled net against amounts that initially reduced the purchase price. Cash flows under the transferred trade receivables agreements are settled net between the parties on a monthly basis. Parent Company The Parent Company’ s receivables consist mainly of receivables from subsidiaries, and expected credit losses are considered insignificant. NOTE 18 Prepaid expenses and accrued income December 31, 2025 December 31, 2024 Prepaid rent 8 11 Prepaid insurance 97 87 Prepaid market expenses 11 10 Prepaid administrative expenses 82 86 Prepaid costs, other 51 7 Accrued income, other 1 2 Total prepaid expenses and accrued income 251 203 Parent Company The Parent Company had prepaid expenses and accrued income of SEK 19 m (16), of which prepaid administrative expenses amounted to SEK 17 m (14) and prepaid insurance premiums of SEK 2 m (2). NOTES 164DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 19 Provisions for pensions Pension obligations Dometic has both defined-benefit and defined-contribution plans. The schemes are generally funded through payments to insurance companies or trustee-admi- nistered funds, based on periodic actuarial calculations. The largest defined-bene- fit plans are in the U.S. and Germany . In defined-contribution plans, the Group pays fixed contributions to publicly or privately administered pension insurance plans on a mandatory , contractual or voluntary basis. The Group has no further payment obligations once the contribu- tions have been paid. The contributions are recognized as an employee expense when they are due. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in the future payments is available. The defined-benefit plan typically defines an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation. The liability recognized in the balance sheet in respect of defined-benefit pension plans is the present value of the defined-benefit obligation at the end of the reporting period less the fair value of plan assets. The defined-benefit pension obligation is calculated annually by independent actuaries using the projected unit credit method. The present value of the defined-benefit obligation is determined by discounting the estimated future cash outflows using interest rates of high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability . The discount rates are based on corporate bonds indexes and government bonds indexes with the same maturity as the underlying plan liabilities. Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to equity in other comprehensive income in the period in which they arise. Current and past service costs are recognized directly in the income statement. Interest costs on defined-benefit plans and interest income on plan assets are recognized within financial items. Remaining items are recognized in operating profit within costs of goods sold, sales or administrative expenses depending on the function the employee is a part of. Other post-employment obligations Some Group companies provide post-retirement healthcare benefits. The antici- pated costs of these benefits are accrued over the period of employment using the same accounting methodology as used for defined-benefit pension plans. These obligations are valued annually by independent qualified actuaries. Risk The Group’ s obligations for defined-benefit pension plans and post-employment medical plans mean that the Group is exposed to some risks. Among the most significant are: a) Asset volatility Liabilities for pension plans are calculated with the help of a discount rate, which is based on rate levels of corporate bonds. If the annual outcome of pension plan assets is lower than the discount rate, this will create a deficit. b) Changes in bond yields A decrease in corporate bond yields will increase plan liabilities. c) Inflation risk Pension obligations are affected by inflation, and higher inflation leads to a greater obligation. The assets linked to the pension plans are either unaffected by inflation (fixed-rate bonds) or only weakly correlated with it (equity instru- ments). This means that higher inflation increases the risk of a deficit in the plan. The inflation risk has been affected given the macroeconomic situation. Assumptions regarding inflation are based on, among other things, long-term inflation objectives of central banks. d) Life expectancy The majority of pension plans offer employees/members lifelong payments. An increase in life expectancy will therefore also increase liabilities for pension plans. Plan assets, investment strategy and risk management The Group has delegated the investments and allocation of the pension plan assets to external providers. As a part of the agreement with the external providers, the investment strategy mitigates risk to the pension assets by closely aligning our diversification with the projected liabilities of the plans. Swedish plan The commitments for retirement plans and family pension regarding employees in Sweden are secured through insurance in Alecta. The pension plan in accordance with ITP which is secured through insurance in Alecta is therefore treated as a defined-contribution plan. At the end of 2025, Alecta reported a plan surplus of 167% (162), which was deemed satisfactory . Alecta’ s surplus may be distributed to the policy-holders and/or the insurees. Of the cost for defined contribution plans, SEK 5 m (6) has been charged by Alecta. The amount is not expected to change significantly for the year 2025. Net liability in the balance sheet December 31, 2025 December 31, 2024 Present value of funded or partly funded obli- gations 831 975 Fair value of plan assets –606 –690 Net liabilities relating to funded obligations 225 285 Present value of unfunded obligations 200 215 Asset ceiling 14 12 Net liability in the balance sheet 439 512 Reconciliation to the balance sheet Defined benefit pension plan, net 439 512 Provision for post-employment obligations 439 512 NOTES 165DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 19 (cont.) Present value of the obligation December 31, 2025 December 31, 2024 Opening balance 1,190 1,144 Current service cost 7 8 Past service cost 5 – Interest expense 49 52 Remeasurements: Actuarial changes arising from changes in demo- graphic assumptions – – Actuarial changes arising from changes in finan- cial assumptions –11 –35 Experience-based adjustments 15 6 Exchange rate differences –152 83 Benefits paid –73 –68 Closing balance 1,030 1,190 Fair value of plan assets December 31, 2025 December 31, 2024 Opening balance 690 628 Interest income 32 31 Remeasurements: Return on plan assets, excluding amounts inclu- ded in interest 1) 30 10 Exchange rate differences –113 57 Employer contributions 40 32 Benefits paid –73 –68 Closing balance 606 690 1) Incl. administrative expenses of SEK 1 m (1). Total net liabilities December 31, 2025 December 31, 2024 Present value of funded or unfunded obligations 1,030 1,190 Present value of plan assets –606 –690 Asset ceiling 14 12 Net liabilities relating to funded and unfunded obligations 439 512 Net liability funded and unfunded plans December 31, 2025 December 31, 2024 Of which funded plan Germany and U.S. 239 296 Of which unfunded plans 200 215 Closing balance 439 512 Specification of total costs for post-employment benefits 2025 2024 Current and past service cost 1) 13 9 Interest cost, net 19 21 Costs attributable to defined-benefit plans 32 30 Costs attributable to defined-contribution plans 95 103 Total cost in the income statement 127 133 1) Incl. administrative expenses of SEK 1 m (1). Remeasurement gain in Other comprehensive income amounts to SEK 21 m before deductions for tax (8). Significant actuarial cal- culation assumptions December 31, 2025 December 31, 2024 Germany USA2) Other 1) Germany USA2) Other 1) Discount rate, % 3.94 5.38 4.55 3.35 5.55 3.29 Wage increases, % 2.80 0.00 3.46 2.80 2.50 3.10 Inflation, % 2.00 1.09 1.91 2.00 2.77 1.66 Life expectancy male/ female 3) 21.0/ 24.4 20.9/ 22.8 22.5/ 25.9 20.9/ 24.3 20.7/ 22.7 21.5/ 25.0 1) Weighted average for other countries where the Group has defined-benefit pension plans. 2) For approximately 50% of the plans, salary increases are an inapplicable assumption. 3) Life expectancy refers to the life expectancy of a currently 65-year-old expressed in years. Specification of plan assets December 31, 2025 December 31, 2024 Cash and cash equivalents 1 1 Equity instruments 171 305 Debt instruments 355 287 Real estate 8 15 Investment funds 71 80 Closing balance 606 690 The plan assets mainly consist of debt instruments, investment funds and equity funds. All plan assets within the category Cash and cash equivalent, equity instru- ments, debt instruments and real estate are assets with a quoted market price in an active market. No administered assets consist of financial instruments or assets that are used within the Group. Expected contributions to the plan next year amount to SEK 39 m (39). Average duration of obligation is 8.78 years in Germany , 10.21 years in the U.S. and 8.15 years in other countries. Sensitivity analysis The actuarial calculations of the Group’ s pension obligations and pension costs are based on significant assumptions. The assumptions are the most significant in terms of risks for changes in pension liabilities. See above under “Risk”. Below is the sensitivity analysis for the main financial assumption and the potential impact on the present value of the defined-benefit pension obligation in the Group. Effect on obligation, (+) SEK m Discount rate, +1% –86 Discount rate, –1% 101 Inflation +0.5% 10 Inflation –0.5% –9 Salary increase +0.5% 1 Salary increase –0.5% –1 Life expectancy +1 year –28 Life expectancy –1 year 28 NOTES 166DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 20 Other provisions Warranty commitments Recall provision Restructuring provision Other provisions Total Opening balance January 1, 2024 318 3 31 298 649 Additional/revaluation provisions during the year –61 1 531 73 544 Unused amounts reversed – – –3 –1 –4 Used provisions – –1 –8 –40 –48 Exchange rate differences 19 0 3 2 24 Closing balance December 31, 2024 276 3 554 332 1,166 Provisions consist of: Non-current portion 63 2 190 180 435 Current portion 213 1 364 153 731 Total 276 3 554 332 1,166 Warranty commitments Recall provision Restructuring provision Other provisions Total Opening balance January 1, 2025 276 3 554 332 1,166 Additional/revaluation provisions during the year –23 2 – 11 –9 Unused amounts reversed – 0 –1 –1 –1 Used provisions – – –303 –85 –388 Exchange rate differences –33 0 –12 –5 –50 Closing balance December 31, 2025 221 4 239 253 717 Provisions consist of: Non-current portion 57 1 86 150 294 Current portion 164 3 153 103 423 Total 221 4 239 253 717 Provisions Provisions for restructuring costs and legal claims are recognized when the Group has a present legal or constructive obligation as a result of past events, and it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognized for future operating losses. Provisions are measured at the present value of the expenditures expected to settle the obligation using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the obligation. Warranty commitments Within the industries that Dometic operates in, many products are covered by a warranty , which is included in the price and valid for a predetermined amount of time. Provisions for warranties are calculated based on past experience of costs for repairs, etc. Dometic offers a standard warranty , normally between 2 and 3 years. In some cases, an extended warranty may be offered to the customer. Recall provision Provisions for recalled products are based on estimates of future cash flow required to settle commitments. Such estimates are based on the nature of the recall, the legal process and the likely extent of damages as well as the progress of the process. Furthermore, consideration is taken of opinions and recommendations from legal advisors and other advice regarding the outcome of the process and experiences from similar cases. The timing of any outflow is uncertain. Restructuring provision The majority of the restructuring provisions is expected to be used within 12 months. In December 2024, Dometic announced a global restructuring program with the aim of strengthening profitability and to release resources for continued investments with the purpose of encouraging profitable growth and value creation in strategic growth areas. The program includes portfolio changes and structural cost reductions and is estimated to have a positive impact on EBITA before amorti- zation and impairment of acquisition-related intangible assets and items affecting comparability of SEK 750 m per year when fully implemented by the end of 2026. NOTES 167DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 20 (cont.) The total restructuring costs for the restructuring program are estimated to amount to SEK 1,200 m and are fully recognized as items affecting comparability in 2024. Since the start of the program, approximately 300 employees have been affected, one manufacturing site and five distribution centers have been closed. The annual run-rate savings at the end of the year amounted to approximately SEK 350 m and the payments linked to the restructuring program in 2025 amounted to SEK 212 m. The amounts have been calculated based on Group Management’ s best estimates and are adjusted in the event of changes to these estimates. The cost calculation is based on detailed plans for activities that are expected to improve the Group’ s cost structure and productivity , and mainly includes severance pay as well as other direct costs in connection with closure of operations. The remaining provision as of December 31, 2025 mainly relates to expenses not yet settled. Other provisions Other provisions consist for example of other post-employee benefits and other liabilities where the timing of any outflows is uncertain. Parent Company Other provisions in the Parent Company amount to SEK 126 m (124) and consist of provisions for post-employment benefits of SEK 106 m (94) and other SEK 19 m (29). NOTE 21 External borrowing As of December 31, 2025, the Group’ s outstanding external borrowings were as follows: Group Parent External borrowing December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024 Non-current liabilities Bank loans, USD 2,120 5,450 2,120 5,450 Bond loans, EUR 6,454 6,879 6,454 6,879 Bond loans, SEK 2,500 748 2,500 748 11,074 13,077 11,074 13,077 Current liabilities Bank loans, SEK – 1,000 – 1,000 Bank loans, USD 404 – 404 – Bond loans, EUR 2,163 1,000 2,163 1,000 Bond loans, SEK 750 – 750 – Commercial paper, SEK 181 196 181 196 Commercial paper, EUR 107 193 107 193 3,605 2,388 3,605 2,288 Total 14,679 15,465 14,679 15,465 The liabilities include capitalized transaction costs accrued over the loan terms, and as of December 31, 2025 amounted to SEK 59 m (37). All of the Group’ s long-term borrowings are due for payment within 5 years of the balance sheet date. Borrowing Dometic has a Euro Medium T erm Note (EMTN) program with a framework amount of EUR 1,500 m (SEK 16,224 m) for bond issues on the European capital market. On December 31, 2025, nominally EUR 800 m (SEK 8,653 m) was outstanding in public and SEK 3,250 m was outstanding in bilateral issues, the bonds carry fixed or floating interest rates based on STIBOR. During the year, the Group continued to use its Euro Medium T erm Note (EMTN) program as part of its long-term financing strategy . Borrowing under the program is unsecured and has the same priority as the Company’ s other unsubordinated debt. Borrowing is conditional on the Group being able to maintain an interest coverage ratio, calculated pro forma, of at least 2.0x on any increase in borrowings. Dometic also has a syndicated bank loan facility with five relationship banks consisting of long-term borrowings in USD and a revolving credit facility in EUR. On December 31, 2025, USD loans amounted to SEK 2,547 m (5,473). The revolving credit facility under which loans and bank guarantees can be drawn in several currencies amounted to SEK 3,216 m, of which SEK 40 m was used for bank guarantees on December 31, 2025. The previous year, Dometic also had a bilateral bank loan amounting to SEK 1,000 m guaranteed by the Swedish Export Credit Agency (EKN), which was repaid in 2025. The bank loan runs at a floating rate based on SOFR and a credit margin that varies depending on the Group’ s net debt in relation to EBITDA. The Company has unsecured bank loan facilities. These loans have the same priority as other unsubordinated and unsecured liabilities of the Group. The terms of the facilities are subject to customary commercial restrictions and financial obligations (so-called covenants) which apply to Dometic and its subsidiaries. The restrictions mean, among other things, limitations on pledging or disposing of assets, making acquisitions or increasing external leverage in the subsidiaries. The financial ratios are reported to the bank on a quarterly basis and include net debt to EBITDA and interest coverage ratio. The liabilities subject to the covenant requi- rement are shown in the table below and as of December 31, 2025 the margin against these covenants was deemed sufficient. In Dometic’ s current internal forecasts for the coming periods there are no breaches. If Dometic was to breach one or more covenants, the normal procedure is to renegotiate the terms of the loan agreement. See further in note 3. Dometic also has a certificate program of SEK 3,000 m (3,000), with the possibility to issue corporate certificates in SEK and EUR with maturities between 1 month and 1 year. As per December 31, 2025, SEK 288 m (388) had been issued under the program. Certain Chinese subsidiaries of the Group have been granted local banking facilities. As per December 31, 2025, these facilities amounted to SEK 821 m (905). These facilities are partially secured through pledging of non-current assets in the Chinese subsidiaries. Interest-bearing debt The Group’ s interest-bearing debt of SEK 15,118 m (15,976) includes the following items: bond loans SEK 11,903 m (8,640), syndicated bank loan facility SEK 2,547 m (5,473), EKN-guaranteed bank loan facility SEK 0 m (1,000), commercial paper NOTES 168DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 21 (cont.) SEK 288 m (388), amortized transaction costs SEK –59 m (–37) and provisions for pensions SEK 439 m (512). See note 19 for pension provisions. Derivative liabilites related to interest rate swaps were SEK – m (–). See the table below for further informa- tion on the interest rate and maturity structure of the Group’ s external borrowings. December 31, 2025 Currency Amount borrowed SEK m Total Interest rate, % Margin, % Year of final payment Syndicated bank loans Dometic Group AB USD 44 404 6.76 3.07 2026 Dometic Group AB USD 233 2,143 6.41 2.65 2029 Syndicated revolving loan facility Dometic Group AB EUR – – – 2.00 2028 Bond loans Dometic Group AB SEK 750 750 6.25 – 2026 Dometic Group AB SEK 900 900 4.93 – 2028 Dometic Group AB SEK 600 600 4.67 – 2028 Dometic Group AB SEK 1,000 1,000 5.17 – 2030 Dometic Group AB EUR 200 2,163 3.00 – 2026 Dometic Group AB EUR 300 3,245 2.00 – 2028 Dometic Group AB EUR 300 3,245 5.00 – 2030 Commercial paper Dometic Group AB SEK 122 122 2.67 – 2026 Dometic Group AB SEK 10 10 2.87 – 2026 Dometic Group AB SEK 49 49 2.94 – 2026 Dometic Group AB EUR 10 107 2.85 – 2026 Total 14,738 December 31, 2024 Currency Amount borrowed SEK m Total Interest rate, % Margin, % Year of final payment Syndicated bank loans Dometic Group AB USD 44 484 7.41 3.07 2026 Dometic Group AB USD 220 2,421 7.09 2.75 2027 Dometic Group AB USD 233 2,568 6.99 2.65 2027 Syndicated revolving loan facility Dometic Group AB EUR – – – 2.00 2027 Bond loans Dometic Group AB SEK 1,000 999 5.10 – 2025 Dometic Group AB EUR 300 3,446 3.00 – 2026 Dometic Group AB SEK 750 748 6.25 – 2026 Dometic Group AB EUR 300 3,446 2.00 – 2028 EKN-guaranteed bank loan facility Dometic Group AB SEK 1,000 1,000 4.81 1.95 2025 Commercial paper Dometic Group AB SEK 98 98 3.76 – 2025 Dometic Group AB SEK 69 69 3.49 – 2025 Dometic Group AB SEK 28 28 3.45 – 2025 Dometic Group AB EUR 3 34 4.05 – 2025 Dometic Group AB EUR 10 113 3.92 – 2025 Dometic Group AB EUR 4 46 3.79 – 2025 Total 15,501 The margins in the table are the applicable interest margins in the syndicated bank loan facilities as of the balance sheet date. The average interest rate for external borrowing in the above table amounted to 4.66% in 2025. As of December 31, 2025, the average maturity was 2.7 years. NOTES 169DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 22 Accrued expenses and prepaid income Group December 31, 2025 December 31, 2024 Prepaid income for extended guarantee period 2 5 Accrued employee-related items 482 464 Accrued bonuses to customers 199 285 Accrued interest 211 226 Accrued production costs 39 38 Accrued administrative expenses 199 190 Accrued marketing expenses 13 21 Accrued financial expenses 4 4 Product liability claims 61 61 Other accrued expenses 49 53 Total accrued expenses and prepaid income 1,259 1,347 Parent Company The Parent Company had accrued expenses and prepaid income of SEK 249 m (252), wherof accrued interest amounted to SEK 211 m (226), accrued employee- related items of SEK 27 m (23) and accrued administrative expenses of SEK 12 m (4). NOTE 23 Pledged assets As of December 31, 2025, parts of the local bank facilities in China were supported by pledged assets of SEK 344 m (389). Parent Company The Parent Company had no pledged assets as per December 31, 2025 (–). NOTE 24 Contingent liabilities Lawsuit filed by ACON As communicated before, ACON, the seller of Igloo, filed a lawsuit against Dometic in 2022, making certain claims related to the Stock Purchase Agreement (“SPA”). Dometic is confident that the lawsuit lacks any merit, is vehemently contesting this lawsuit and has filed counterclaims against ACON related to its conduct under, and non-compliance with, the SPA. Trial is expected to take place in March 2026. Dometic assesses that this process has no significant impact on the Group’ s business operations or financial position. No other material contingent liabilities exist as of December 31, 2025 (–). Putative class action complaints In 2025, two putative class action lawsuits (“Lieber et al. v. Igloo Products Corp.” and “Strauss v. Igloo Products Corp.”) were filed against Igloo Products Corp. relating to the labelling on certain Igloo-brand coolers. These lawsuits have since been consolidated into a single action and Igloo intends to vigorously dispute the allegations raised in the consolidated action. Multiple putative class action complaints were filed against Igloo Products Corp. in US federal courts relating to Igloo’ s 90 QT Rolling Coolers (“Coolers”). These lawsuits followed Igloo’ s announcement in February 2025 of a voluntary recall of approximately 1 million Coolers. The voluntary recall was instituted to mitigate the potential risk of the tow handle pinching consumers’ fingertips against the Cooler. Igloo is providing consumers with a replacement handle at no cost to mitigate this risk. The lawsuits have since been consolidated into a single action, and Igloo intends to vigorously dispute the allegations raised in the consolidated action. Other legal matters In 2025, Igloo received notice of an investigation and possibility of enforcement action by the U.S. Consumer Product Safety Commission (“CPSC”) related to Igloo’ s compliance with the reporting requirements under the Consumer Product Safety Act with respect to the Coolers. Igloo is cooperating fully with the CPSC investigation. NOTE 25 Cash flow details Group December 31, 2025 December 31, 2024 Cash and cash equivalents include Cash in hand and balances with banks 4,860 4,213 Total cash and cash equivalents 4,860 4,213 Adjustment for non-cash items Depreciation, amortization and impairment (Notes 8, 14 and 15) 1,310 3,510 Global restructuring program – 1,145 Exchange rate differences –58 156 Other –322 –57 Total non-cash items 930 4,753 Parent Company The parent company’ s items not affecting cash flow amounted to SEK 29 m (1,303), wherof exchange rate differences amounted to SEK 29 m and depreciation, amortization and impairment amounted to SEK 0 m (1). Other financing activities Group Other financial items in financing activities amounted to SEK –144 m (–66) and consist of pensions paid SEK –40 m (–32), realized result financial hedges SEK –7 m (7), paid financial fees SEK –95 m (–40) and other SEK –2 m (0). Parent Company Other financial items within financing operations amount to SEK 2,074 m (1,045) and consist primarily of net-of-loan activitites to subsidiaries and amortizations. NOTES 170DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 25 (cont.) Group Changes arising from cashflow Non-cash changes 2025 On January 1 Amortization of interest-bearing liabilities including lease liabilities New borrowings interest-bearing liabilities Leasing interest Reclassification financial liabilities Change accrued interest and fees Foreign exchange movements Changes in defined benefit obligations Additions/cancel- lations of leases during the year On December 31 Bank loans, long-term 5,450 –2,045 – –415 22 –892 – 2,120 Bank loans, short-term 1,000 –1,000 – 415 – –10 – 404 Bond loans, long-term 7,627 – 5,755 –4,012 0 –415 – 8,954 Bond loans, short-term 999 –2,091 – 4,012 – –7 – 2,913 Commercial paper 388 –1,151 1,059 – – –9 – 288 Provisions for pensions and similar obligations 512 – – – – – –73 439 Accrued interest 226 – – – –15 – – 211 Leasing liabilities 2,159 –336 –109 –201 298 1811 Total 18,361 –6,627 6,814 –109 – 7 –1,260 –73 298 17,140 Group Changes arising from cashflow Non-cash changes 2024 On January 1 Amortization of interest-bearing liabilities including lease liabilities New borrowings interest-bearing liabilities Leasing interest Reclassification financial liabilities Change accrued interest and fees Foreign exchange movements Changes in defined benefit obligations Additions/cancel- lations of leases during the year On December 31 Bank loans, long-term 7,962 –2,056 – –1,000 –4 548 – 5,450 Bank loans, short-term – – – 1,000 – – – 1,000 Bond loans, long-term 8,373 – – –999 10 244 – 7,627 Bond loans, short-term – – – 999 – – – 999 Commercial paper – –1,013 1,403 – – –1 – 388 Provisions for pensions and similar obligations 517 – – – – – –5 512 Accrued interest 245 – – – –20 – – 226 Leasing liabilities 1,091 –352 –120 278 248 2,159 Total 18,188 –3,421 1,403 –120 – –14 1,069 –5 248 18,361 Reconciliation of changes in liabilities arising from financing activities, including both changes arising from cashflows and non-cash changes Cash and cash equivalents include cash in hand, deposits at banks, other short- term liquid investments with original maturities of three months or less, and bank overdrafts. Utilized revolving loans and overdrafts are recognized as borrowing among the current liabilities of the balance sheet. As of the balance sheet date December 31, 2025, no revolving loans and overdrafts have been utilized. NOTES 171DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 25 (cont.) Parent Company Changes arising from cashflow Non-cash changes 2025 On January 1 Amortization of interest-bearing liabilities New borrowings interest-bearing liabilities Reclassification financial liabilities Change accrued interest and fees Foreign exchange movements Changes in defined benefit obligations On December 31 Bank loans, long-term 5,450 –2,045 – –415 22 –892 – 2,120 Bank loans, short-term 1,000 –1,000 – 415 – –10 – 404 Bond loans, long-term 7,627 – 5,755 –4,012 0 –415 – 8,954 Bond loans, short-term 999 –2,091 – 4,012 – –7 – 2,913 Commercial paper 388 –1,151 1,059 – – –9 – 288 Accrued interest 226 – – – –15 – – 211 Total 15,690 14,890 Parent Company Changes arising from cashflow Non-cash changes 2024 On January 1 Amortization of interest-bearing liabilities New borrowings interest-bearing liabilities Reclassification financial liabilities Change accrued interest and fees Foreign exchange movements Changes in defined benefit obligations On December 31 Bank loans, long-term 7,962 –2,056 – –1,000 –4 548 – 5,450 Bank loans, short-term – – – 1,000 – – – 1,000 Bond loans, long-term 8,373 – – –999 10 244 – 7,627 Bond loans, short-term – – – 999 – – – 999 Commercial paper – –1,013 1,403 – – –1 – 388 Accrued interest 245 – – – –20 – – 226 Total 16,579 15,690 NOTES 172DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 26 Shares in subsidiaries Dometic Group AB (publ.) Company name Corp. id. No. Domicile No. of shares Proportion of equity in % 2025 book value SEK m Direct shareholdings Dometic Group Services AB 556829-4416 Solna, Sweden 50,000 100 0 Dometic Holding AB 556677-7370 Solna, Sweden 1,001 100 11,831 Dometic Sweden AB 556598-2674 Solna, Sweden 22,100,000 100 4,396 Dometic E-commerce AB 559523-4427 Solna, Sweden 25,000 100 10 Total shares in subsidiaries 16,238 Company name Corp. id. No. Domicile Proportion of equity in % Indirect shareholdings Dometic Australia Pty Ltd 086366305 Australia 100 Dometic Power and Control (Enerdrive) Pty Ltd. 650216381 Australia 100 Dometic Vehicle Outfitters AUS Pty Ltd 627,620,517 Australia 100 Dometic Vehicle Outfitters Holding AUS Pty Ltd 169,275,647 Australia 100 Dometic Denmark A/S 25 70 51 30 Denmark 100 Dometic Finland Oy 0885413-1 Finland 100 Dometic SAS 438636425 France 100 Dometic Middle East FZCO 2774 United Arab Emirates 100 Dometic Asia Co. Ltd. 14979283-000-02 Hong Kong 100 Dometic Asia Holding Co. Ltd. 17208219-000-07 Hong Kong 100 Dometic Impex Co. Ltd. 22342626-000-03 Hong Kong 100 United Cooling Technologies Ltd 33068249-000-07 Hong Kong 100 Dometic Italy Marine S.r.l. 08934890156 Italy 100 Dometic Italy S.r.l. 00718330400 Italy 100 SMEV S.r.l. 03410350247 Italy 100 Dometic Mobile Power Italy S.r.l. 02065080687 Italy 100 Dometic KK 0104-01-045566 Japan 100 Dometic Marine Canada Inc. 853832533RC0003 Canada 100 Valterra Power CA, Ltd. 704399724BC0001 Canada 100 Dometic (Shenzhen) Electronics Co Ltd 91440300618885496F China 100 Dometic (Shenzhen) Trading Co Ltd 91440300594318592P China 100 Dometic (Zhuhai) Technology Co Ltd 91440400729235971W China 100 Company name Corp. id. No. Domicile Proportion of equity in % Jiaxing Igloo Trading Co., Ltd. 91330424MA2CW4T36Y China 100 Shenzhen Cool Gear Trading Company Limited 914403003415011612 China 100 Ensambladora Ventura de Mexico, SA de CV 462685007 Mexico 100 Dometic MX S DE RL DE CV DMX011121UB6 Mexico 100 Dometic Mobile Cooking Netherlands B.V. 08104966 Netherlands 100 Dometic Benelux B.V. 20051965 Netherlands 100 Dometic Netherlands Holding B.V. 06050846 Netherlands 100 Sierra Netherlands Coöperatief U.A. 59086122 Netherlands 100 Dometic Norway AS 841914422 Norway 100 Dometic New Zealand Ltd. 2084564 New Zealand 100 Dometic Poland Sp. z o.o 0000374897 Poland 100 Dometic RUS LLC 1107746208338 Russia 100 Dometic Switzerland AG CH-020.3.906.004-9 Switzerland 100 Dometic Private Ltd. 200003050k Singapore 100 Dometic Slovakia s.r.o 31617298 Slovakia 100 Dometic Spain S.L. B82837071 Spain 100 Dometic Mobile Cooking UK Ltd 06833828 United Kingdom 100 Dometic UK Ltd 4190363 United Kingdom 100 Dometic UK Awnings Ltd 05964899 United Kingdom 100 Dometic UK Blind Systems Ltd 02504653 United Kingdom 100 Dometic AB 556014-3074 Sweden 100 Dometic Scandinavia AB 556305-2033 Sweden 100 Dometic Sweden Tidaholm AB 556528-1093 Sweden 100 Igloo EMEA AB 559388-7093 Sweden 100 WAECO Sweden WSE AB 559403-8464 Sweden 100 Dometic (Pty) Ltd 1973/010155/07 South Africa 100 Dometic Vehicle Outfitters SA Pty Ltd 1999/023159/07 South Africa 100 Dometic Vehicle Outfitters SA Holdings Pty Ltd 1998/014127/07 South Africa 100 Dometic Korea Co., Ltd. 295-88-01153 South Korea 100 Dometic Mobile Power Germany GmbH HRB 6060 Germany 100 Dometic Vehicle Outfitters EU GmbH HRB 215760 Germany 100 Dometic Germany Holding GmbH HRB 5557 Germany 100 Dometic GmbH HRB 5558 Germany 100 Dometic Light Systems GmbH HRB 7855 Germany 100 Dometic Germany Krautheim GmbH HRB 7731 Germany 100 Dometic Germany GmbH HRB 3716 Germany 100 WAECO Germany WSE GmbH HRB 14141 Germany 100 NOTES 173DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 26 (cont.) Company name Corp. id. No. Domicile Proportion of equity in % Dometic Hűtőgépgyártó és Kereskedelmi Zrt. ( Dometic Hungary Zrt.) Cg.16-10-001727 Hungary 100 Balmar Acquisition Company LLC 35-2507978 United States 100 CDI Electronics LLC 63-0848240 United States 100 Cool Gear International. LLC 90-0634641 United States 100 Dometic Corporation 32-0145464 United States 100 Dometic Mexico LLC 3457538 United States 100 Ensambladora Holdings, LLC 46-2685007 United States 100 Front Runner Outfitters LLC 20-8700484 United States 100 I Products Corporation 33-0984483 United States 100 Igloo Acquisition Holdings Corp 26-3416632 United States 100 Igloo Products Asia HoldCo Inc 82-1119004 United States 100 Igloo Products Corp. 36-3474772 United States 100 Inca Products Acquisition Corp. 46-2862973 United States 100 Marine Acquisition (US) Incorporated 23-2467492 United States 100 Marine Acquisition Corp. 27-5496404 United States 100 Marine Digital Integrators LLC 46-4518541 United States 100 Sierra International LLC 36-2643586 United States 100 Sierra Netherlands Holdings LLC 46-3981447 United States 100 Treeline Capital LLC 20-8392940 United States 100 Valterra Power US, LLC 82-2205649 United States 100 Valterra Products, LLC 90-0974095 United States 100 ZampTech Sub LLC 82-4021581 United States 100 Dometic Austria GmbH FN290460y Austria 100 Change analysis of shares in subsidiaries December 31, 2025 December 31, 2024 Opening balance 16,228 16,228 Shareholders’ contributions 10 – Closing balance 16,238 16,228 NOTE 27 Transactions with related parties All subsidiaries presented in note 26 Shares in subsidiaries are considered to be related parties. Deliveries of goods and services occur between companies within the Group. Financial and intangible services are also provided. Market terms and pricing are applied to all transactions. All transactions between Group companies are elimina- ted in the consolidated accounts. Parent company administrative expenses amounted to SEK –244 m (–243) during the year, of this SEK 245 m (247) was charged out to the subsidiaries in accordance with a service agreement. The charged-out expenses are being classified as other operating income in the income statement with a markup. Remuneration for Group Management and individual members of the Board of Directors are presented in note 9. Dometic Group has not issued guarantees or sureties to or on behalf of Board members or senior executives. The Board of Directors has not identified any transactions with other related parties. NOTES 174DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 28 Earnings per share and proposed distribution of earnings Share capital Ordinary shares are classified as equity . Dometic Group AB’ s (publ.) share capital amounted to SEK 798,750 divided into 319,499,993 shares. The quotient value is SEK 0.0025 per share. Weighted average number of shares Average number of shares equals actual number of shares. Earnings per share December 31, 2025 December 31, 2024 Earnings per share before dilution Earnings attributable to the Parent Company’s shareholders (thousands) 427,975 –2,302,704 Weighted average number of shares issued 319,499,993 319,499,993 Earnings per share before dilution (SEK per share) 1.34 –7.21 Earnings per share after dilution Earnings attributable to the Parent Company’s shareholders (thousands) 427,975 –2,302,704 Weighted average number of shares issued 319,499,993 319,499,993 Earnings per share after dilution (SEK per share) 1.34 –7.21 Proposed distribution of earnings The following earnings (SEK) are at the disposal of the annual shareholders’ meeting: Retained earnings 11,944,650,622 Net result for the year –68,934,159 Total 11,875,716,463 The Board of Directors proposes that earnings be distributed as follows: To be carried forward 11,875,716,463 Total 11,875,716,463 NOTES 175DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 29 Business combinations The valuation of acquired assets and liabilities, including items that have not been recognized in the acquired company’ s balance sheet, such as trademarks or customer relationship assets, should be recognized at fair value. The valuation of identifiable assets and liabilities is affected by the accounting environment that the acquired company has been active in. This relates, for example, to the availability of the data needed and the basis of preparation for the financial reporting, and consequently the level of adjustments that are necessary to comply with the Group’ s accounting principles. The initial acquisition calculations are preliminary , even though best estimates and judgement have been used. Nevertheless, calculations might need to be adjusted subsequently . All acquisition calculations are finalized up until 12 months after the acquisition date. Considering the above description, Dometic has chosen not to specify reasons why the accounting of the business combination is prelimi- nary , or which assets and liabilities for which the initial accounting is preliminary unless regarded material. In light of the above, Dometic has chosen not to specify the reasons why the business combination accounting is provisional, or for which assets and liabilities the initial accounting is provisional, provided that there are no material adjustments. Additionally , it is not feasible to compile and disclose all individual adjustments in a manner that will be useful for the reader of the financial statements. Goodwill is generally not tax deductible. 2025 Dometic has not made any acquisitions or divestments during the year. Consideration not yet paid Consideration not yet paid refers to holdbacks and potential earnouts. These liabi- lities are reported as Other non-current liabilities and Other current liabilities in the balance sheet. The size of the potential earn-out is normally linked to profitability targets in the acquired company during a specific period of time. The accounting principles imply that holdbacks and potential earn-outs are at the acquisition date recognized at fair value, based on Management’ s best estimate in accordance with IFRS 13. Updated estimates are performed at end of each reporting period. Information obtained after the acquisition is assessed whether the information refers to circumstances at the date of acquisition or to subsequent events. Informa- tion referring to circumstances at the date of acquisition is recognized as adjust- ments to the purchase price, if still prepared on a preliminary basis. NOTE 30 Significant events after the reporting period Goran Popovski has been appointed President of Segment Land Vehicles and a member of Group Management as of January 1, 2026. Goran will report to Juan Vargues, President and CEO. Goran most recently served as President of the Mining and Infrastructure Attachments business area at Epiroc. In March 2026, Dometic’ s Board of Directors decided to withdraw the previo- usly communicated dividend proposal of SEK 1.00 per share. The decision was taken against the backdrop of recent geopolitical developments, which have increased economic uncertainty and volatility and may have a negative impact on consumer sentiment and demand for Dometic’ s products. In light of this, the Board of Directors considered it proactive and prudent to withdraw the dividend propo- sal in order to maintain financial flexibility . There have been no other significant events that have impacted the financial reporting after the balance sheet date. NOTES 176DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 31 Definitions Reconciliation of non-IFRS measures to IFRS (alternative performance measures) Dometic presents some financial measures in this annual report, which are not defined by IFRS. Dometic believes that these measures provide valuable additional information to investors and Management for evaluating the Company’ s financial performance, financial position and trends in the operations. It should be noted that these measures, as defined, may not be comparable to similarly titled measu- res used by other companies. These non-IFRS measures should not be considered as substitutes for financial reporting measures prepared in accordance with IFRS. See Dometic’ s website www.dometicgroup.com for the detailed reconciliation. EBITDA Operating profit (EBIT) before amortization, depreciation and impairment. EBITDA margin Operating profit (EBIT) before depreciation, amortization and impairment divided by net sales. EBITDA before items affecting comparability Operating profit (EBIT) before depreciation, amortization, impairment and items affecting comparability . EBITA Operating profit (EBIT) before amortization and impairment of acquisition-related intangible assets. EBITA margin Operating profit (EBIT) before amortization and impairment of acquisition-related intangible assets, divided by net sales gives the margin. EBITA before items affecting comparability Operating profit (EBIT) before amortization and impairment of acquisition-related intangible assets and items affecting comparability . Free cash flow Cash flow for the period before acquisition/divestments and financing excluding interest net and lease amortization. Average maturity of interest-bearing debts Interest-bearing debts excluding provisions for pensions and capitalized transac- tion costs divided by the number of outstanding days until maturity . Adjusted earnings per share Profit for the period, excluding the impact from amortization and impairment of acquisition-related intangible assets and items affecting comparability , divided by average number of shares. Net debt to EBITDA leverage ratio Net debt in relation to the last twelve months EBITDA before items affecting comparability and including acquisitions proforma. Any cash deposits with tax authorities are treated as cash in the leverage calculation. Average number of employees Average number of employees (headcount) over the past four quarters. Revenue per employee Last 12 months’ rolling net sales divided by the average number of employees during the corresponding period. Core working capital Consists of inventories and trade receivables less trade payables. Core working capital/net sales Average core working capital from the previous four quarters divided by the last twelve months rolling net sales gives Core working capital/net sales. Net debt Interest-bearing current and non-current liabilities, excluding provisions for pension liabilities, lease-liabilities and capitalized transaction costs, less cash and cash equivalents. Operating cash flow Cash flow from operations after investments in fixed assets excluding income tax paid. Paid interest/received interest is part of net cash flow from financing. Organic growth Net sales growth excluding acquisitions/divestments/portfolio changes related to the ongoing Global Restructuring program and currency translation effects. Quar- ters are calculated at comparable currency , with the latest period average rate. RoOC - Return on Operating Capital Operating profit (EBIT) for the four previous quarters, divided by the average ope- rating capital for the four previous quarters, excluding goodwill and trademarks. Gearing ratio Net debt excluding pensions and accrued interest divided by total equity . Capital employed Interest-bearing debt plus equity . NOTES 177DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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NOTE 31 (cont.) Definitions and key ratios CPV Commercial and Passenger Vehicles. Items Affecting Comparability Items affecting comparability are events or transactions with significant financial effects, which are relevant for understanding the financial performance when com- paring profit for the current period with previous periods. Items included are for example restructuring programs, gains and losses from acquisitions or disposals of subsidiaries, or transaction costs related to major mergers and acquisitions. LTM Last twelve months. OEM Original Equipment Manufacturers. Companies that manufacture products or components that are built into another manufacturer’ s end product. Operating capital Interest-bearing debt plus equity less cash and cash equivalents. Operating capital excluding goodwill and trademarks Interest-bearing debt plus equity less cash and cash equivalents, excluding goodwill and trademarks. Product development costs Research and development costs including capitalized spend. Earnings per share (”EPS”) Profit for the period divided by average number of shares. RV Recreational Vehicles. Interest-bearing debt Total borrowings (including capitalized transaction costs) and provisions for pensions. Working capital Core working capital plus other current assets less other current liabilities and provisions relating to operations. Operating profit (EBIT) Operating profit before financial items and taxes. Operating profit (EBIT margin) Operating profit (EBIT) before financial items and taxes, divided by net sales gives corresponding margin. Equity ratio Equity as a percentage of total assets. Profit margin Net profit divided by net sales. OCI Other comprehensive income. NOTES 178DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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PROPOSED DISTRIBUTION OF EARNINGS The following earnings (SEK) are at the disposal of the Annual Shareholders’ Meeting: Retained earnings 11,944,650,622 Profit for the year –68,934,159 Total 11,875,716,463 The Board of Directors proposes that earnings be distributed as follows: To be carried forward 11,875,716,463 Total 11,875,716,463 According to the dividend policy , Dometic Group AB (publ)’ s-target is for a dividend of at least 40 percent of profit for the year. The Board of Directors proposes that the Annual Shareholders’ Meeting 2026 resolves that no payment of dividend will be paid for the fiscal year 2025 and that the company’ s available funds shall be carried forward. The Board of Directors and the CEO hereby give their assurance that the consolidated financial statements and the Annual Report have been compiled in compliance with international accounting standards, IFRS, as adopted by EU and with generally accepted accounting practices and thus provide a fair and accurate impression of the financial position and result of the Group and the Parent Company . The Report of the Board of Director’ s for both the Group and the Parent Company gives an accurate presentation of the Group’ s and the Parent Company’ s operations, financial position and results and describes material risks and uncertain- ties facing the Parent Company and the companies included in the Group. The undersigned further certify that Dometic Group AB (publ)’ s Sustainability Report for 2025 has been prepared in accordance with the Swedish Annual Accounts Act and the European Sustainability Reporting Standards (ESRS). The Annual Report was approved by the Board of Directors and dated March 17 , 2026, Dometic Group AB (publ) registration number 556829-4390 Fredrik Cappelen Chairman of the Board Mengmeng Du Board member Jacqueline Hoogerbrugge Board member Rainer Schmückle Board member Patrik Frisk Board member Peter Sjölander Board member Heléne Vibbleus Board member Juan Vargues President and CEO Our audit report and our assurance report on the statutory sustainability statement were submitted on March 18, 2026 Öhrlings PricewaterhouseCoopers AB Patrik Adolfson Authorized Public Accountant Auditor in charge PROPOSED DISTRIBUTION OF EARNINGS 179DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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AUDITOR’S REPORT Report on the annual accounts and consolidated accounts Opinions We have audited the annual accounts and consolidated accounts of Dometic Group AB (publ) for the year 2025 except for the corporate governance statement and the statutory sustainability report on pages 51–63 and 64–126, respectively . The annual accounts and consolidated accounts of the company are included on pages 43–179 in this document. In our opinion, the annual accounts have been prepared in accordance with the Annual Accounts Act and present fairly , in all material respects, the financial position of parent company as of 31 december 2025 and its financial performance and cash flow for the year then ended in accordance with the Annual Accounts Act. The consolidated accounts have been prepared in accordance with the Annual Accounts Act and present fairly , in all material respects, the financial position of the group as of 31 december 2025 and their financial performance and cash flow for the year then ended in accordance with IFRS Accounting Standards as adopted by the EU, and the Annual Accounts Act. Our opinions do not cover the corporate governance statement and the statutory sustainability report on pages 51–63 and 64–126, respectively . The statutory administration report is consistent with the other parts of the annual accounts and consolidated accounts. We therefore recommend that the general meeting of shareholders adopts the income statement and balance sheet for the parent company and the group. Our opinions in this report on the annual accounts and consolidated accounts are consistent with the content of the additional report that has been submitted to the parent company’ s audit committee in accordance with the Audit Regulation (537/2014/EU) Article 11. Basis for Opinions We conducted our audit in accordance with International Standards on Auditing (ISA) and generally accepted auditing standards in Sweden. Our responsibilities under those standards are further described in the Auditor’ s Responsibilities section. We are independent of the parent company and the group in accordance with professional ethics for accountants in Sweden and have otherwise fulfilled our ethical responsibilities in accordance with these requirements. This includes that, based on the best of our knowledge and belief, no prohibited services referred to in the Audit Regulation (537/2014/EU) Article 5.1 have been provided to the audited company or, where applicable, its parent company or its controlled companies within the EU. We believe that the audit evidence we have obtained is sufficient and appropri- ate to provide a basis for our opinions. Our audit approach Audit scope We designed our audit by determining materiality and assessing the risks of material misstatement in the consolidated financial statements. In particular, we considered where the Board of Directors and the Managing Director made subjective judgements; for example, in respect of significant accounting estimates that involved making assumptions and considering future events that are inher- ently uncertain. As in all of our audits, we also addressed the risk of management override of internal controls, including among other matters consideration of whether there was evidence of bias that represented a risk of material misstatement due to fraud. We tailored the scope of our audit in order to perform sufficient work to enable us to provide an opinion on the consolidated financial statements as a whole, taking into account the structure of the group, the accounting processes and controls, and the industry in which the group operates. Dometic Group operates worldwide with 22 manufacturing and assembly facilities in 11 countries. Operations are managed and monitored through four reportable segments, comprising six operating segments: Land Vehicles Ameri- cas, Land Vehicles EMEA, Land Vehicles APAC, Marine Mobile, Cooling Solutions, and Global Ventures. Regarding net sales by country (based on where customers are headquartered), the USA, Germany , and Australia constitute the largest markets, accounting for approximately 71 percent of the Group’ s total net sales in 2025. The financial statements for the Dometic Group comprise approximately 60 reporting units in 30 countries around the world. In order to develop our overall audit strategy and plan, we determined the scope of work to be performed by subsidiary auditors for the reporting units. To express our opinion on the financial statements as a whole, we assessed which units are most significant, and these were subsequently included in the group audit, including units in Australia, China, Sweden, Germany , Hungary , and the USA. In addition to this, the lead audit partner visited operations in the USA during the year to gain an understanding of the business in various countries, conduct an overview of the financial reporting based on the Group’ s accounting policies, and assess the units’ internal controls. To tailor an appropriate audit strategy , we updated our understanding of, among other things, the organization, strategic focus areas, and the overall control environment. We have conducted a series of interviews with management and have obtained and reviewed significant govern- ing documents, business reports, and other relevant documentation. In addition to the valuation of goodwill and inventory , which are particularly significant areas in our audit, we also focused on the accounting for deferred tax assets and the assessment of support for the accounting, as well as financing and liquidity . During 2025, in connection with the interim report for the third quarter and at the year-end closing, we reported our most significant observations to Group management and the Audit Committee. At the year-end closing, we also reported our most significant observations to the Board of Directors as a whole. Regarding the interim report for the third quarter, we issued a limited assurance review report. Materiality The scope of our audit was influenced by our application of materiality . An audit is designed to obtain reasonable assurance whether the financial statements are free from material misstatement. Misstatements may arise due to fraud or error. They are considered material if individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the consolidated financial statements. Based on our professional judgement, we determined certain quantitative thresholds for materiality , including the overall group materiality for the consolidated financial statements as a whole as set out in the table below. These, together with qual- itative considerations, helped us to determine the scope of our audit and the nature, timing and extent of our audit procedures and to evaluate the effect of misstatements, both individually and in aggregate on the financial statements as a whole. Unofficial translation To the general meeting of the shareholders of Dometic Group AB (publ), org.nr 556829-4390 AUDITOR’S REPORT 180DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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Key Audit Matter Key audit matters of the audit are those matters that, in our professional judgment, were of most significance in our audit of the annual accounts and consolidated accounts of the current period. These matters were addressed in the context of our audit of, and in forming our opinion thereon, the annual accounts and consolidated accounts as a whole, but we do not provide a separate opinion on these matters. Valuation of goodwill How our audit addressed the Key Audit Matter Goodwill amounts to a total of SEK 18.0 billion as of December 31, 2025. This item is not only significant in terms of its amount but also in its nature, as it is affected by management’ s judgments. For this reason, we have chosen to consider the valuation of goodwill as a particularly significant area in our audit, and the risk we specifically focused on is the risk that the item is overstated. Goodwill is tested for impairment on an annual basis. To determine whether there is an impairment need, cash flow models are used in which management calculates future cash flows based on budgets and strategic plans. Dometic has six cash-generating units at which the company’ s impairment testing is performed. These are: Land Vehicles Americas, Land Vehicles EMEA, Land Vehicles APAC, Marine, Mobile Cooling Solutions, and Global Ventures. No impairment need exists in 2025. See the Annual Report Note 4 Significant estimates and judgments and Note 14 Intangible assets for further information. • In evaluating the assumptions, as described in Note 14, and in verifying that the model used is consistent with IFRS, we tested and evaluated the models and methodology used, as well as assessed the reasonableness of significant assumptions. • On a sample basis, tested, evaluated, and challenged the information used in the calculations against Dometic’ s financial plan and, where possible, external information. In doing so, we focused on assumed growth rates, the development of margins, and the discount rate per cash-generating unit. We also assessed the company’ s plans with respect to historical forecast accuracy . • Verification of the sensitivity of the valuation to adverse changes in significant parameters that, on an individual or collective basis, could result in an impairment need. • Comparison of the disclosures included in the annual report against the requirements of IAS 36. Valuation of inventory How our audit addressed the Key Audit Matter The net value of inventory in the Group’ s balance sheet amounts to SEK 4.8 billion as of December 31, 2025. The provision for obsolescence amounts to SEK 0.5 billion. The valuation of inventory is considered a particularly significant area in our audit due to materiality , complexity in underlying calculations, and elements of management’ s judgments. Inventory is located at many manufacturing and assembly facilities in many countries. Inventory is valued at the lower of cost and net realizable value. Cost is calculated by applying the first-in, first-out method (FIFO). Valuation of inventory and provisions for obsolescence require clear guidelines and are characterized by management’ s judgments. When determining product cost calculations, there are a number of considerations that need to be made by management that have an impact on the reported values. This includes, among other things, determining normal production volumes, exchange rates, raw material prices, and allocation keys for other direct and indirect costs. Net realizable value is the estimated selling price in the ordinary course of business less applicable variable selling costs. See the Annual Report Note 16 Inventory for more information on this balance sheet item. • Review of the Group’ s accounting policies for inventory to verify compliance with IFRS. • Evaluation of processes for inventory accounting. • Review of the internal control environment regarding the valuation of inventory and testing of identified key controls. • Sample testing of raw material inventory against actual purchase prices. Evaluated and assessed the reasonableness of product cost calculations for work in progress and finished goods inventory . • Participated in inventory counts at a number of storage locations and reviewed the cut-off of incoming and outgoing deliveries. • Reviewed the company’ s analysis of slow-moving inventory and net selling prices, as well as management’ s estimates of obsolescence reserves, to assess that the carrying value is in line with Group policy and accounting principles. • Reviewed disclosures provided against accounting records and other financial information. AUDITOR’S REPORT 181DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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Other Information than the annual accounts and consolidated accounts This document also contains other information than the annual accounts and consolidated accounts and is found on pages 1–42, and 185. This other informa- tion also contains the Remuneration report which was received before the release of the Auditors’ report. The Board of Directors and the Managing Director are responsible for this other information. Our opinion on the annual accounts and consolidated accounts does not cover this other information and we do not express any form of assurance conclusion regarding this other information. In connection with our audit of the annual accounts and consolidated accounts, our responsibility is to read the information identified above and consider whether the information is materially inconsistent with the annual accounts and consol- idated accounts. In this procedure we also take into account our knowledge otherwise obtained in the audit and assess whether the information otherwise appears to be materially misstated. If we, based on the work performed concerning this information, conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Responsibilities of the Board of Director’s and the Managing Director The Board of Directors and the Managing Director are responsible for the prepa- ration of the annual accounts and consolidated accounts and that they give a fair presentation in accordance with the Annual Accounts Act and, concerning the consolidated accounts, in accordance with IFRS Accounting Standards as adopted by the EU. The Board of Directors and the Managing Director are also responsible for such internal control as they determine is necessary to enable the preparation of annual accounts and consolidated accounts that are free from material misstate- ment, whether due to fraud or error. In preparing the annual accounts and consolidated accounts, The Board of Directors and the Managing Director are responsible for the assessment of the company’ s and the group’ s ability to continue as a going concern. They disclose, as applicable, matters related to going concern and using the going concern basis of accounting. The going concern basis of accounting is however not applied if the Board of Directors and the Managing Director intend to liquidate the company , to cease operations, or has no realistic alternative but to do so. The Audit Committee shall, without prejudice to the Board of Directors respon- sibilities and tasks in general, among other things oversee the company’ s financial reporting process. Auditor’s responsibility Our objectives are to obtain reasonable assurance about whether the annual accounts and consolidated accounts as a whole are free from material misstate- ment, whether due to fraud or error, and to issue an auditor’ s report that includes our opinions. Reasonable assurance is a high level of assurance, but is not a guar- antee that an audit conducted in accordance with ISAs and generally accepted auditing standards in Sweden will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these annual accounts and consolidated accounts. A further description of our responsibility for the audit of the annual accounts and consolidated accounts is available on Swedish Inspectorate of Auditors’ website: www.revisorsinspektionen.se/revisornsansvar. This description is part of the auditor´s report. AUDITOR’S REPORT 182DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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Report on other legal and regulatory requirements The auditor’s examination of the administration of the company and the proposed appropriations of the company’s profit or loss Opinion In addition to our audit of the annual accounts and consolidated accounts, we have also audited the administration of the Board of Directors and the Managing Director of Dometic Group AB (publ) for the year 2025 and the proposed appro- priations of the company’ s profit or loss. We recommend to the general meeting of shareholders that the profit be appropriated in accordance with the proposal in the statutory administration report and that the members of the Board of Directors and the Managing Director be discharged from liability for the financial year. Basis for Opinions We conducted the audit in accordance with generally accepted auditing standards in Sweden. Our responsibilities under those standards are further described in the Auditor’ s Responsibilities section. We are independent of the parent company and the group in accordance with professional ethics for accountants in Sweden and have otherwise fulfilled our ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropri- ate to provide a basis for our opinions. Responsibilities of the Board of Director’s and the Managing Director The Board of Directors is responsible for the proposal for appropriations of the company’ s profit or loss. At the proposal of a dividend, this includes an assessment of whether the dividend is justifiable considering the requirements which the company’ s and the group’ s type of operations, size and risks place on the size of the parent company’ s and the group’ equity , consolidation requirements, liquidity and position in general. The Board of Directors is responsible for the company’ s organization and the administration of the company’ s affairs. This includes among other things continu- ous assessment of the company’ s and the group’ s financial situation and ensuring that the company´s organization is designed so that the accounting, management of assets and the company’ s financial affairs otherwise are controlled in a reassuring manner. The Managing Director shall manage the ongoing administration accord- ing to the Board of Directors’ guidelines and instructions and among other matters take measures that are necessary to fulfill the company’ s accounting in accordance with law and handle the management of assets in a reassuring manner. Auditor’s responsibility Our objective concerning the audit of the administration, and thereby our opinion about discharge from liability , is to obtain audit evidence to assess with a reason- able degree of assurance whether any member of the Board of Directors or the Managing Director in any material respect: • has undertaken any action or been guilty of any omission which can give rise to liability to the company , or • in any other way has acted in contravention of the Companies Act, the Annual Accounts Act or the Articles of Association. Our objective concerning the audit of the proposed appropriations of the company’ s profit or loss, and thereby our opinion about this, is to assess with reasonable degree of assurance whether the proposal is in accordance with the Companies Act. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with generally accepted auditing standards in Sweden will always detect actions or omissions that can give rise to liability to the company , or that the proposed appropriations of the company’ s profit or loss are not in accordance with the Companies Act. A further description of our responsibility for the audit of the administration is available on Swedish Inspectorate of Auditors’ website: www.revisorsinspek- tionen.se/revisornsansvar. This description is part of the auditor’ s report. The auditor’s examination of the ESEF report Opinion In addition to our audit of the annual accounts and consolidated accounts, we have also examined that the Board of Directors and the Managing Director have prepared the annual accounts and consolidated accounts in a format that enables uniform electronic reporting (the Esef report) pursuant to Chapter 16, Section 4 a of the Swedish Securities Market Act (2007:528) for Dometic Group AB (publ) for the financial year 2025. Our examination and our opinion relate only to the statutory requirements. In our opinion, the Esef report has been prepared in a format that, in all material respects, enables uniform electronic reporting. Basis for Opinion We have performed the examination in accordance with FAR’ s recommendation RevR 18 Examination of the Esef report. Our responsibility under this recommen- dation is described in more detail in the Auditors’ responsibility section. We are independent of ABC AB (publ) in accordance with professional ethics for accountants in Sweden and have otherwise fulfilled our ethical responsibilities in accordance with these requirements. We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Responsibilities of the Board of Directors (and the Managing Director) The Board of Directors and the Managing Director is (are) responsible for the preparation of the Esef report in accordance with the Chapter 16, Section 4 a of the Swedish Securities Market Act (2007:528), and for such internal control that the Board of Directors and the Managing Director determine is necessary to prepare the Esef report without material misstatements, whether due to fraud or error. Auditor’s responsibility Our responsibility is to obtain reasonable assurance whether the Esef report is in all material respects prepared in a format that meets the requirements of Chapter 16, Section 4(a) of the Swedish Securities Market Act (2007:528), based on the procedures performed. RevR 18 requires us to plan and execute procedures to achieve reason- able assurance that the Esef report is prepared in a format that meets these requirements. Reasonable assurance is a high level of assurance, but it is not a guarantee that an engagement carried out according to RevR 18 and generally accepted auditing standards in Sweden will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individu- ally or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Esef report. The firm applies International Standard on Quality Management 1, which requires the firm to design, implement and operate a system of quality manage- ment including policies or procedures regarding compliance with ethical require- ments, professional standards and applicable legal and regulatory requirements. The examination involves obtaining evidence, through various procedures, that the Esef report has been prepared in a format that enables uniform electronic reporting of the annual accounts [and consolidated accounts]. The procedures selected depend on the auditor’ s judgment, including the assessment of the risks AUDITOR’S REPORT 183DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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of material misstatement in the report, whether due to fraud or error. In carrying out this risk assessment, and in order to design audit procedures that are appropriate in the circumstances, the auditor considers those elements of internal control that are relevant to the preparation of the Esef report by the Board of Directors and the Managing Director, but not for the purpose of expressing an opinion on the effectiveness of those internal controls. The examination also includes an evalua- tion of the appropriateness and reasonableness of assumptions made by the Board of Directors and the Managing Director. The procedures mainly include a validation that the Esef report has been prepared in a valid XHMTL format and a reconciliation of the Esef report with the audited annual accounts and consolidated accounts. Furthermore, the procedures also include an assessment of whether the consolidated statement of financial performance, financial position, changes in equity , cash flow and disclosures in the Esef report have been marked with iXBRL in accordance with what follows from the Esef regulation. The auditor’s examination of the corporate governance statement The Board of Directors is responsible for that the corporate governance statement on pages 51–63 been prepared in accordance with the Annual Accounts Act. Our examination of the corporate governance statement is conducted in accordance with FAR’ s auditing standard RevR 16 The auditor’ s examination of the corporate governance statement. This means that our examination of the corporate governance statement is different and substantially less in scope than an audit conducted in accordance with International Standards on Auditing and generally accepted auditing standards in Sweden. We believe that the examination has provided us with sufficient basis for our opinions. A corporate governance statement has been prepared. Disclosures in accord- ance with chapter 6 section 6 the second paragraph points 2–6 of the Annual Accounts Act and chapter 7 section 31 the second paragraph the same law are consistent with the other parts of the annual accounts and consolidated accounts and are in accordance with the Annual Accounts Act Öhrlings PricewaterhouseCoopers AB, Torsgatan 21, 113 97 Stockholm, was appointed auditor of Dometic Group AB (publ)s by the general meeting of the shareholders on the 15 April 2025 and has been the company’ s auditor since 2010. Stockholm 18 March 2026 Öhrlings PricewaterhouseCoopers AB Patrik Adolfson Authorized Public Accountant This is a translation of the Swedish language original. In the event of any differences between this translation and the Swedish language original, the latter shall prevail. AUDITOR’S REPORT 184DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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FOR FURTHER INFORMATION Tobias Norrby Head of Investor Relations Tel: +46 706 647335 ir@dometicgroup.com INTERIM REPORT Q1 The Interim Report January – March, 2026 will be published on April 23, 2026. INTERIM REPORT Q2 The Interim Report April – June, 2026 will be published on July 14, 2026. ANNUAL SHAREHOLDERS’MEETING 2026 The 2026 annual shareholders’ meeting of Dometic Group AB (publ) will be held on April 14, 2026. INTERIM REPORT Q3 The Interim Report July – September, 2026 will be published on October 22, 2026. FINANCIAL CALENDAR 2026 FINACIAL CALENDAR 2026 185DOMETIC ANNUAL AND SUSTAINABILITY REPORT 2025
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DOMETIC WINTER AIR PVC MADE FROM DURABLE WEATHERSHIELD™ PVC WITH HIGH RAIN RESISTANCE (TESTED TO 200 L/H/M²). EQUIPPED WITH AN INTEGRATED AIR INFLATABLE SYSTEM. DESIGNED FOR STABILITY AND PERFORMANCE IN HARSH WINTER CONDITIONS. This Annual Report is an English translation of the Swedish original. In the event of any discrepancies, the Swedish version shall govern. Production: Hallvarsson & Halvarsson in cooperation with Dometic. Photos: Dometic.
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DOMETIC GROUP AB (PUBL) Hemvärnsgatan 15 SE-171 54 Solna, Sweden CONTACT Phone: +46 8 501 025 00 www.dometicgroup.com FOLLOW US