Slides
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Q3 2026 INTERIM REPORT DOMETIC GROUP
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JUAN VARGUES PRESIDENT AND CEO
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Q3 HIGHLIGHTS • Resilient sales in weak markets, with growth in three of four segments • Positive order momentum and a stronger backlog entering Q4 • Profitability below our potential: raw-material costs and volume offset pricing and savings • Continued strategy execution: adapting capacity and reducing complexity while protecting investment in innovation • New restructuring program in Land Vehicles Americastargets SEK 215 m in annual savings by end of 2028 Financial performance • Organic sales growth +3% (-6%) • EBITA margin before i.a.c. 9.7% (10.4%), EBITA SEK 495 m (506) • Free cash flow SEK -90 m (527); leverage 3.4x (3.2) Page 3 | Dometic Group
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MARKET DEMAND INDICATORS 2026 Page 4 | Dometic Group -14% -14% QTD Aug YTD Aug US RV production -16% -2% Q3 YTD EU RV registrations* -4% YTD July US boat registrations
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Q3 2026 FINANCIAL SUMMARY Net sales of SEK 5,116 m, 5% total growth • 3% Organic • 2% FX • 0% M&A • 0% Portfolio changes EBITA before i.a.c. of SEK 495 m, -2% • EBITA margin of 9.7% (10.4% ) EPS of SEK -13.71 (0.35) Adjusted EPS of SEK 0.03 (0.64) Free cash flow of SEK -90 m (52 7) Leverage 3.4x (3.2x) 506 495 Q3 2025 Q3 2026 4,885 5,116 5% Net Sales EBITA before i.a.c Page 5 | Dometic Group
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YTD SEPTEMBER 2026 FINANCIAL SUMMARY Net sales of SEK 16,324 m, -4% total growth • 1% Organic • -3% FX • 0% M&A • -1% Portfolio changes EBITA before i.a.c. of SEK 1,790 m, -10% • EBITA margin of 11.0% (11.7% ) EPS of SEK -12.43 (2.01 ) Adjusted EPS of SEK 2.16 (2.90) Free cash flow of SEK 525 m (1,424) Leverage 3.4x (3.2x) September 2025 September 2026 16,984 16,324 1,989 1,790 -4% Net Sales EBITA before i.a.c Page 6 | Dometic Group
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NET SALES DEVELOPMENT BY QUARTER Q3 2026 Net Sales SEK 5,116 m Organic growth 3% • Land Vehicles 2% where of: - Americas -8% - EMEA 9% - APAC 1% • Marine 4% • Mobile Cooling Solutions 9% • Global Ventures -6% -14% -13% -10% -11% -6% -3% 0% -1% 3% -3% 2% -1% -8% -7% -13% -10% -4% 2% 0 9,000 18,000 27 ,000 36,000 45,000 LTM MSEK Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Organic Growth Other Net Sales, Last 12 Months (LTM) Fixa Page 7 | Dometic Group
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DIVERSIFICATION ACROSS CHANNELS IS STRENGTHENING RESILIENCE • Service & Aftermarket and Distribution now make up 62% of sales, up from 46% in 2020 • RV OEM is down to 16% of Group sales • A broader revenue base across channels and end markets makes Dometic less exposed to individual market cycles Page 8 | Dometic Group Share of net sales by sales channel, % 54% 50% 44% 43% 40% 38% 38% 36% 31% 10% 31% 2020 2021 2022 2023 2024 2025 Sep 2026 LTM Distribution Service & Aftermarket OEM -16 pp vs 2020
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ORGANIC GROWTH BY SALES CHANNEL * • Growth in all segments -10% -1% -11% -9% -7% -12% -4% -3% 5% 3% 5% Q1 Q2 Q3 2024 Q4 Q1 Q2 Q3 2025 Q4 Q1 Q2 Q3 2026 Service & Aftermarket -13% -2% -10% -6% -3% -7% -6% 2% -1% 0% -1% Q1 Q2 Q3 2024 Q4 Q1 Q2 Q3 2025 Q4 Q1 Q2 Q3 2026 Distribution -13% -17%-20%-18%-16%-14% -8% -4% -4% -5% 4% Q1 Q2 Q3 2024 Q4 Q1 Q2 Q3 2025 Q4 Q1 Q2 Q3 2026 OEM • Decline within Land Vehicles and Global Ventures, offset by good growth in Mobile Cooling Solutions • Growth driven primarily by commercial vehicles * Including portfolio changes Page 9 | Dometic Group
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EBITA AND EBITAMARGIN BEFORE I.A.C EBITA before i.a.c last 12 months 10.0% (10.7%) 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 0 100 200 300 400 500 600 700 800 900 MSEK EBIT A margin LTM Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q3 2026 EBITA before i.a.c margin 9.7% (10.4%) • Gross margin decreased to 29.3% (from 29.5%), impacted by increased raw material prices, freight rates and product mix • SG&A, before items affecting comparability , increased by 3% in constant currency • Lower EBITA margin EBITA before i.a.c EBITA Margin, Last 12 Months (LTM) Page 10 | Dometic Group
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LAND VEHICLES Q3 2026 Net sales SEK 2,239 m, 3% • Organic growth 2% • Growth in Service & Aftermarket • Growth in OEM driven by Commercial Vehicles while RV showing low digit decline EBITA before i.a.c. SEK 141 m (138) • EBITA Margin 6.3% (6.3%) • Improved gross margin, despite negative impact from increased raw material costs • Increased SG&A as a percentage of sales, mainly driven by increased marketing and product development spend 0 500 0% 10% 1.000 1.500 2.000 2.500 3.000 2% 4% 6% 8% 12% 14% Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Net sales EBIT A margin Net sales and EBITA margin before i.a.c. Page 11 | Dometic Group
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MARINE Q3 2026 Net sales SEK 1,256 m, 5% Organic growth 4% Growth driven by Service & Aftermarket Flat development in OEM EBITA before i.a.c. SEK 256 m (249) EBITA Margin 20.4%(20.8%) Stable gross margin despite increasing raw material prices Reduced SG&A as a percentage of sales despite increased spend in marketing and product development Margin decline driven by FX Net sales and EBITA margin before i.a.c. 0 200 400 600 800 1.000 1.200 1.400 0% 10% 20% 2% 4% 6% 8% 12% 14% 16% 18% 22% Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Net sales EBIT A margin Page 12 | Dometic Group
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MOBILE COOLING SOLUTIONS Q3 2026 Net sales SEK 1,190 m, 13% Organic growth 9% Growth driven by North America EBITA before i.a.c. SEK 65 m (66) EBITA Margin 5.4% (6.3%) Margin decline driven by lower gross margin, negatively impacted by increased raw material and labor costs, partly offset by improved pricing SG&A reduced as a percentage of sales despite increased investments in product development Net sales and EBITA margin before i.a.c. 0 500 1.000 1.500 2.000 -8% -6% -4% -2% 0% 2% 4% 6% 8% 10% 12% 14% Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Net sales EBIT A margin Page 13 | Dometic Group
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Net sales SEK 431 m, -5% Organic growth -6% Single-digit decline in Other Global Verticals as well as Mobile Power Solutions EBITA before i.a.c. SEK 33 m (52) EBITA Margin 7.7 %(11.5%) Gross margin negatively impacted by factory underabsorption within Other Global Verticals SG&A increased as a percentage of sales GLOBAL VENTURES Q3 2026 Net sales and EBITA margin before i.a.c. 0 100 200 300 400 500 600 0% 10% 5% 15% Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Net sales EBIT A margin Page 14 | Dometic Group
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SUSTAINABILITY AND INNOVATION • LTI F R1) at 0.7 – Well below the target of 1.0 – Injury prevention initiatives and reporting process improvements continue • Share of female managers 31% – Above target, driven by several initiatives in all segments • Share of renewable energy in operations 48% – Increasing share in manufacturing and distribution facilities, now above target of 45% • Share of high- spend direct material suppliers assessed for sustainability 75% – Further audits carried out, now above to the 70% target KPI Focus area 2026 2025 2026 T arget LTIFR1) People 0.7 0.6 <1.0 Share of female managers People 31% 30% 30% Share of renewable electricity in operations Planet 48% 37% 45% Share of sustainability assessed high-spend suppliers Governance 75% 60% 70% OUR FOCUS AREAS AND AMBITIONS PEOPLE Offer a safe, inclusive, diverse and dynamic workplace – allowing every employee to reach their full potential for the best of the company as a whole PLANET Offer innovative, durable and low-carbon products that support circularity GOVERNANCE Safeguard human rights at all times while pursuing fair business and labor practices 1) LTIFR: Lost Time Injury Frequency Rate Page 15 | Dometic Group
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THE GLOBAL RESTRUCTURING PROGRAM HAS REDUCED COST AND COMPLEXITY SINCE 2024 Page 16 | Dometic Group SEK 900 m annual run-rate savings when fully implemented (mid-2027) 1 + 6 manufacturing site and distribution centres closed SEK 600 m run-rate savings achieved, end of September 2026 • Part of the strategy to simplify operations and align capacity with demand, and to facilitate continued investment in growth areas and innovation • 3 manufacturing site closures ongoing • Additional SEK 110 m of annual run rate savings achieved in Q3
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FURTHER ACTION IS REQUIRED TO IMPROVE PROFITABILITY Page 17 | Dometic Group Why further action • North American RV demand has remained below previous assumptions • Further capacity , cost and portfolio adaptation is required New restructuring program scope • Improve asset utilization; capacity and supply- chain footprint adaptations • Portfolio simplification • More selective customer and channel strategy • Primarily focused on Land Vehicles Americas Financial impact • SEK 215m targeted annual savings by the end of 2028 • SEK -425m restructuring cost • SEK -140m estimated cash impact Page 17 | Dometic Group
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FUTURE VALUE CREATION REMAINS PROTECTED While adapting capacity and reducing complexity , Dometic continues to invest in the capabilities that support future growth and higher- quality earnings. Continued investment R&D remained at 3.0% of net sales Commercial execution Continued investment in sales capabilities and in strategic growth areas to support new product launches Product renewal 23% of sales come from products launched in the past three years (Product Innovation Index) Page 18 | Dometic Group
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AIR DISTRIBUTION BOX • Ultra -low profile design, smaller and lighter • Generates efficient and pleasantly quiet airflow • Easy adjustment with touch - control panel or by a smartphone RV KITCHEN • Airfryer; Combines an air fryer, grill oven and microwave in one compact, built -in unit • Customizable front fridge; Allows customers’ own material and finish for seamless integration, Dometic’ s energy -efficient variable -speed compressor technology PREMIUM SERIES ROOF RACKS • First product in the new Dometic Front Runner Series • The most advanced, lightest and toughest roof rack system Dometic has ever produced. NEW GEN SOLAR PANELS • New generation RV solar panels with superior energy efficiency • Delivers reliable energy even in partial shade and low- light conditions • Ideal for space -constrained installations. RECENT PRODUCT LAUNCHES Page 19 | Dometic Group
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PER CARLSSON INTERIM CFO
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Q3 2026 INCOME STATEMENT Gross profit margin 29.3% (29.5%) • Favorable impact from price increases and restructuring, offset by higher costs for materials and labor Operating expenses SEK -1,005 m (-936) • Underlying SG&A development in line with net sales Items affecting comparability SEK -72 m • Restructuring charges amounted to SEK -425 m, offset by a positive impact due to the reversal of the provision for the ACON earnout dispute case Impairment of SEK -4,229 • Related to Land Vehicles, Mobile Cooling and Global Ventures Net financial expenses SEK -200 m (-207) • Net interest expenses SEK -139 m (-148) • FX revaluation and other items SEK -61 m (-59) T axes SEK -245m (-54) Page 21 | Dometic Group Q3 Q3 SEK m 2026 2025 Net sales 5 116 4 885 Organic growth 3% -6% Gross Profit 1 500 1 442 Margin 29,3% 29,5% Operating expenses -1 005 -936 Share of net sales 19,6% 19,2% EBITA before i.a.c. 495 506 Margin 9,7% 10,4% Items affecting comparability -72 -1 Amortization and impairment of acquisition- related intangible assets -4 358 -129 EBIT -3 936 375 Net financial expenses -200 -207 Taxes -245 -54 Profit for the period -4 381 114
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WORKING CAPITAL DAYS LTM = Last 12 Months • Working capital last 12 months 25% (26%) of net sales − 26% in the quarter • Inventory balance SEK 5.3 b (4.6) − Number of days 128 (124) • Accounts receivables and Accounts payables are developing favorably , partly offsetting the high inventory levels. Long -term target of 20% working capital remains. 0 5 10 15 20 25 30 35 0 10,000 -5,000 5,000 15,000 SEKm % Q1 Q2 Q3 2023 Q4 Q1 Q2 Q3 2024 Q4 Q1 Q2 26% Q3 2025 Q4 Q1 Q2 25% Q3 2026 Inventories Trade receivables Trade payables Working Capital % of net sales, LTM WORKING CAPIT AL 54 63 30 40 50 60 70 Q1 Q2 Q3 2023 Q4 Q1 Q2 Q3 2024 Q4 Q1 Q2 Q3 2025 Q4 Q1 Q2 Q3 2026 DPO LTM ACCOUNTS PAYABLE 124 128 80 100 120 140 160 Q1 Q2 Q3 2023 Q4 Q1 Q2 Q3 2024 Q4 Q1 Q2 Q3 2025 Q4 Q1 Q2 Q3 2026 DIO LTM INVENTORIES 45 44 30 35 40 45 50 55 Q1 Q2 Q3 2023 Q4 Q1 Q2 Q3 2024 Q4 Q1 Q2 Q3 2025 Q4 Q1 Q2 Q3 2026 DSO LTM ACCOUNTS RECEIVABLES Page 22 | Dometic Group
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CAPEX AND RESEARCH & DEVELOPMENT (NORMAL CURRENCY , MSEK, % OF NET SALES) CAPEX Q3 CAPEX: 2.2% of net sales (2.0% in same period 2025) Q3 R&D: 3.0% of net sales (3.0% same period 2025) 57 96 106 98 97 97 70 77 81 114 0 20 40 60 80 100 120 0% 1% 2% 3% Q1 2024 75 Q2 2024 1.7% Q3 2024 Q4 2024 Q1 2025 Q2 2025 2.0% Q3 2025 Q4 2025 Q1 2026 Q2 2026 2.2% Q3 2026 158 160 155 160 164 138 146 142 149 144 154 0 25 50 75 100 125 150 175 0% 1% 2% 3% 4% Q1 2024 Q2 2024 2.7% Q3 2024 Q4 2024 Q1 2025 Q2 2025 3.0% Q3 2025 Q4 2025 Q1 2026 Q2 2026 3.0% Q3 2026 R&D Page 23 | Dometic Group
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CASH FLOW SUMMARY Q3 Operating cash flow • Working capital impacted mainly by lower outstanding balance in our trade receivables program • Cash out related to restructuring SEK 38 m • Investments in line with plan including manufacturing footprint Free cash flow • Higher interest expenses due annual payment of interest on bond issued last year • T axes paid includes a tax review settlement Financing • Impacted repayment of debt Page 24 | Dometic Group Q3 Q3 9M 9M SEK m 2026 2025 2026 2025 Operating profit -3 936 375 -2 991 1 583 Reversal of depreciation and other non-cash items 4 557 256 5 247 743 Changes in working capital 56 506 -256 624 Investments in intangible and tangible assets -114 -97 -273 -292 Operating cash flow 563 1 040 1 727 2 658 Income taxes paid -197 -211 -344 -400 Paid/received interest net -362 -227 -607 -596 Lease payments -89 -86 -261 -336 Other -5 11 10 11 Free cash flow -90 527 525 1 424 Acqusitions and divestments - - - - Financing excl. interest and lease payments -838 2 116 -3 664 2 116 Cash flow for the period -928 2 643 -3 139 3 540
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FREE CASH FLOW, SEK M 709 -96 63 744 -663 609 89 307 -654 252 323 536 -110 -92 -213 713 409 -406 527 21 -192 806 -90 Q4 Q1 Q2 Q3 2020 Q4 Q1 Q2 Q3 2021 Q4 Q1 Q2 Q3 2022 Q4 Q1 Q2 Q3 2023 Q4Q3 2019 Q2 Q3 2024 Q4 Q1 Q2 Q3 2025 Q4 Q1 Q2 1.032 1.054 1.746 1.566 1.395 1.302 Q3 2026 Q1 Page 25 | Dometic Group
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NET DEBT TO EBITDA LEVERAGE RATIO Page 26 | Dometic Group 1,5 2,6 2,7 2,9 3,0 3,0 3,2 3,2 2,9 2,7 3,0 2,9 3,0 3,1 3,3 3,3 3,2 3,3 3,4 3,3 3,4 Q3 2021 Q4 Q1 Q2 Q3 2022 Q4 Q1 Q2 Q3 2023 Q4 Q1 Q2 Q3 2024 Q4 Q1 Q2 Q3 2025 Q4 Q1 Q2 Q3 2026 3,3 3,4 2,5 2,6 2,7 2,8 2,9 3,0 3,1 3,2 3,3 3,4 3,5 Q2 2026 EBITDA Cash flow FX Q3 2026 Q2 2026 to Q3 2026 0,02 0,03 0,02
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DEBT MATURITY PROFILE SEPTEMBER 30, 2026 • Total debt 12.3 SEKb (17 .1) • Net debt 9.4 SEKb (10.0) • Average maturity 2.7 years. • Undrawn revolving credit facility of EUR 300 m maturing in 2028 • SEK 750 m loan paid back in August 3,4 3,4 0,4 2,3 1,5 1,0 0,2 2026 2027 2028 2029 2030 EUR Bonds USD Loans SEK Bonds Commercial papers Page 27 | Dometic Group
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PRIORITIES GOING FORWARD • Focus on growth opportunities in a challenging market environment, and strengthen earnings quality while protecting investment in future growth • Execute the restructuring program and improve profitability • Improve cash generation and deleverage towards the long-term target • Stay adaptive to changing market conditions to seize strategic opportunities as they arise Page 28 | Dometic Group
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Q & A
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DISCLAIMER SOME STATEMENTS HEREIN ARE FORWARD-LOOKING AND THE ACTUAL OUTCOME COULD BE MATERIALLY DIFFERENT . IN ADDITION TO THE FACTORS EXPLICITLY COMMENTED UPON, THE ACTUAL OUTCOME COULD BE MATERIALLY AFFECTED BY OTHER FACTORS, (A) CHANGES IN ECONOMIC, MARKET AND COMPETITIVE CONDITIONS, (B) SUCCESS OF BUSINESS AND OPERATING INITIATIVES, (C) CHANGES IN THE REGULATORY ENVIRONMENT AND OTHER GOVERNMENT ACTIONS, (D) FLUCTUATIONS IN EXCHANGE RATES AND (E) BUSINESS RISK MANAGEM E N T. • THIS PRESENTATION HAS BEEN PREPARED DOMETIC GROUP SOLELY FOR USEAT THIS PRESENTATION AND IS FURNISHED TO YOU SOLELY FOR YOUR INFORMATION AND MAY NOT BE REPRODUCED OR REDISTRIBUTED, IN WHOLE OR IN PART , TO ANY OTHER PERSON. THE PRESENTATION DOES NOT CONSTITUTE AN INVITATION OR OFFER TO ACQUIRE, PURCHASE OR SUBSCRIBE FOR SECURITIES. BY ATTENDING THE MEETING WHERE THIS PRESENTATION IS MADE, OR BY READING THE PRESENTATION SLIDES, YOU AGREE TO BE BOUND BY THE FOLLOWING LIMITATIONS. • THE INFORMATION AND OPINIONS CONTAINED IN THIS DOCUMENT ARE PROVIDED AS AT THE DATE OF THIS PRESENTATION AND ARE SUBJECT TO CHANGE WITHOUT NOTICE.