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A FERRONORDIC SON Interim report 1 January 30 September 2021 WN NA Best quarter to date Summary of the third quarter , July - September 2021 • Group : 47 % revenue growth as demand remains strong . • 8.9 % operating margin supports best operating result to date . • 34 % growth in earnings per share . Strong operating cash flows as working capital remains low . ● ● Robust balance sheet with net cash position . 47 % Revenue growth Selected key group ratios SEK m ( or as stated ) Revenue Gross profit Operating profit Result for the period Result per ordinary share , SEK * Cash flow from operations Net debt ( cash ) Gross margin , % Operating margin , % Working capital / LTM Revenue , % Equity / total assets , % Return on capital employed , % Return on equity , % * Before dilution 37 % Operating profit growth — • Russia / CIS : Equipment sales in units increased by 5 % as market grew by 40 % . • 48 % revenue growth , mainly due to machine product mix with higher average price and growth in contracting services . • Strong operating margin boosted by contracting services and operating efficiency . A 19.5 % 8.9 % 0 % 27 % 27 % 48 % 8.9 % 2021 2020 Jul - Sep Jul - Sep 1,661 1,129 324 221 147 107 109 81 7.48 5.57 327 100 -75 83 Operating profit margin 19.6 % 9.5 % 8 % 33 % 25 % 44 % % 47 % 46 % 37 % 34 % 34 % -0.1pp -0.6pp -8.1pp -6.1pp 2.0pp 4.6pp ● Germany : Trucks sales in units increased by 25 % in a declining market . • 45 % revenue growth supported by used trucks sales and robust aftermarket . ● Operating result negatively impacted by restructuring costs . Continued investments in organisation and network development . 2021 Jan - Sep 4,517 825 371 251 17.27 538 -75 18.3 % 8.2 % 0 % 27 % 27 % 48 % 34 % Earnings per share growth 2020 Jan - Sep 3,450 610 263 177 12.21 514 83 17.7 % 7.6 % 8 % 33 % 25 % 44 % % 31 % 35 % 41 % 41 % 41 % 0.6pp 0.6pp -8.1pp -6.1pp 2.0pp 4.6pp All amounts are stated in millions of SEK unless stated otherwise . Rounding differences when summing up can occur with +/- SEK 1m . In cases where an underlying number is rounded off to SEK 0m , this is written as 0 . 2020 Full year 4,635 797 328 222 15.25 693 -20 17.2 % 7.1 % 5 % 31 % 20 % 40 % 1