Interim report
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Q3 Interim report Q3, 2026 Record earnings and improved cash flow
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2 GRÄNGES AB (PUBL) INTERIM REPORT Q3, 2026 Highlights ● Sales volume increased by 1 percent to 154.5 ktonnes (153.4). ● Adjusted operating profit¹ increased to SEK 596 million (398) and adjusted operating profit per tonne increased to 3.9 kSEK (2.6). ● Profit for the period increased to SEK 388 million (253) and diluted earnings per share² increased to SEK 3.63 (2.27). ● Operating cash flow3 increased to SEK 396 million (317). ● Return on capital employed3 increased to 12.6 percent (10.8 on September 30, 2025). ● Financial net debt was 1.7x adjusted EBITDA (1.6x on September 30, 2025). ● Total GHG emission intensity (scope 1+2+3)4 decreased to 5.9 tonnes CO2e/tonne (6.5), and the share of sourced recycled aluminium increased to 48.2 percent (45.1). ● Sales volume increased by 4 percent to 481.4 ktonnes (464.2). ● Adjusted operating profit¹ increased to SEK 1,635 million (1,242) and adjusted operating profit per tonne increased to 3.4 kSEK (2.7). ● Profit for the period increased to SEK 1,114 million (807) and diluted earnings per share² increased to SEK 10.32 (7 .22). ● Operating cash flow3 was SEK -92 million (783). ● Total GHG emission intensity (scope 1+2+3)4 decreased to 5.9 tonnes CO2e/tonne (6.8), and the share of sourced recycled aluminium increased to 47 .9 percent (44.4). Third quarter 2026 January – September 2026 Q3 Jan–Sep 12 months rolling 12 months rolling SEK million 2026 2025 2026 2025 Oct 2025– Sep 2026 Oct 2024– Sep 2025 Sales volume, ktonnes 154.5 153.4 0.7% 481.4 464.2 3.7% 633.8 594.5 Net sales 9,485 6,933 36.8% 27,4 0 3 21,140 29.6% 34,625 27, 3 2 3 Adjusted operating profit¹ 596 398 49.8% 1,635 1,242 31.7% 2,008 1,566 Adjusted operating profit per tonne, kSEK 3.9 2.6 1.3 3.4 2.7 0.7 3.2 2.6 Operating profit 546 398 3 7.4 % 1,571 1,242 26.5% 1,943 1,518 Profit for the period 388 253 53.0% 1,114 807 38.1% 1,365 982 Earnings per share, diluted, SEK² 3.63 2.27 1.36 10.32 7 .22 3.09 12.63 8.90 Operating cash flow3 396 317 24.8% -92 783 n/a -35 -265 Capital employed 17 ,327 14,516 2,811 17 ,327 14,516 2,811 15,894 14,541 Return on capital employed, %3 12.6 10.8 1.9 pp 12.6 10.8 1.9 pp 12.6 10.8 Financial net debt3 4,987 3,825 1,163 4,987 3,825 1,163 4,987 3,825 Financial net debt/Adjusted EBITDA¹ 1.7 1.6 0.2 1.7 1.6 0.2 1.7 1.6 Total GHG emission intensity (scope 1+2+3), tonnes CO2e/tonne4 5.9 6.5 -8% 5.9 6.8 -12% 6.0 7. 0 Share of sourced recycled aluminium, % 48.2 45.1 3.1 pp 47. 9 44.4 3.5 pp 47.7 44.5 Summary 1 Adjus ted for items affecting comparability. 2 Attr ibutable to owners of the parent company. 3 See Alternative Performance Measures for details on calculation and reconciliations. 4 GHG emissions (scope 1+2+3) are defined in accordance with the Greenhouse Gas Protocol, see Definitions for further information.
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3 GRÄNGES AB (PUBL) INTERIM REPORT Q3, 2026 CEO COMMENT Gränges continued to gain market share across several end markets, securing our eleventh consecutive quarter of year-on-year sales volume growth. In Gränges Americas, continued market share gains and a recovery in the climate control market contributed to strong sales volume growth. Continued wage and other inflation was more than offset by excellent operational performance combined with improved pricing and recycling. Together with good growth, these effects resulted in record earnings. In Gränges Europe, market demand remained weak, but continued market share gains supported sales volume growth. Higher sales volume, improved pricing and positive market scrap spreads supported earnings growth. This was partly offset by negative currency effects and cost increases. In Gränges Asia, operations gradually recovered from the effects of the fire at our Shandong facility in May. Repairs are ongoing and expected to be completed around year-end. The capacity constraints primarily impacted lower-margin industrial products, while market share gains and new business supported continued growth in automotive applications. In parallel, we continue our work to strengthen the long-term performance of the business. Gränges as a whole faced negative currency effects, continued price pressure in Asia and cost increases across all regions. However, these effects were more than offset by favorable mix, improved pricing, increased recycling, and improved market scrap spreads. As a result, adjusted operating profit increased by 50 percent to SEK 596 million, marking a new record for Gränges in a single quarter. The operating cash flow increased, contributing to improved leverage. We also continued to make progress on sustainability, as evidenced by reduced greenhouse gas emission intensity during the quarter. Another record quarter Fourth-quarter outlook Market demand remains difficult to predict, but we saw a strong third quarter and have good momentum going into the fourth. In Asia, we continue to operate with reduced capacity following the fire in the Shandong facility. In the fourth quarter we expect a year-on-year reduction of approximately 10 ktonnes of low-margin industrial products while we continue to target growth in automotive. For the other regions, we expect fourth-quarter sales volume to grow at a mid single-digit rate compared to the fourth quarter last year, driven by continued market share gains. We aim to offset cost increases through price and productivity. We expect continued tailwind from improved market scrap spreads and relatively small foreign exchange rate effects. All in all, we took a big step forward in our long-term plan during the third quarter. I would like to thank all colleagues across Gränges for their dedication and hard work, and for contributing to our company’s strong development. Jörgen Rosengren President and CEO
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4 GRÄNGES AB (PUBL) INTERIM REPORT Q3, 2026 Strategy & long-term targets Our long-term Navigate plan aims for leadership in aluminium recycling and flat-rolling. Following the successful comple- tion of the Finalize phase, we are now executing the Utilize and Optimize phases of the plan. These focus on higher capacity utilization, significantly improved productivity and disciplined capital allocation. 1–2x Capital structure Financial net debt normally between EBITDA 30–50% Dividend Percentage of profit for the year Net-zero 500 kton nes Climate Scope 1+2+3 emissions by 2040 Circularity Recycled volume by 2030 >15% Profitability Return on capital employed >10% Profit growth Average annual operating profit growth In this way, we will drive long-term profitable growth, stronger cash generation and attractive returns, while continuing toward carbon neutrality by 2040. The Navigate plan builds on our strong company culture and committed colleagues worldwide. STRATEGY Connecting industry with tomorrow’s engineers Collaboration with universities is an important way for Gränges to share industrial knowledge, strengthen ties between academia and industry, and build relationships with future engineers. For several years, Gränges Europe has partnered with KTH Royal Institute of Technology in Stockholm and AGH University of Krakow, with a particular focus on metallurgy and materials science. During the quarter, Paweł Rutecki, PhD, VP R&I and Sustainability, Gränges Europe, delivered a guest lecture to third- and fourth-year engineering students at KTH. The lecture introduced students to aluminium, its properties, and the production of rolled aluminium products. The partnership also includes company visits and opportunities for students to gain practical experience through summer jobs, internships, and thesis projects. These initiatives provide students with valuable insight into aluminium and its industrial applications while strengthening connections between academia, future engineers, and Gränges.
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5 GRÄNGES AB (PUBL) INTERIM REPORT Q3, 2026 Market In the third quarter 2026, customer demand remained weak across several end markets. However, continued market share gains supported the sales volume in the quarter. Sales to Automotive customers increased by 12 percent compared to the same quarter last year, supported by market share gains and new business to electric vehicles. Sales to Climate control customers increased by 22 percent, driven by continued market share gains and a recovery of the HVAC market. Packaging sales decreased by 4 percent compared with the same quarter last year, as market share gains could not fully offset low end- customer demand. Sales to Industrial decreased by 21 percent, primarily due to lower production capacity in Asia following the fire at the Shandong production facility in the second quarter. Sales Sales volume in the third quarter 2026 increased by 1 percent to 154.5 ktonnes (153.4). Net sales increased by 37 percent to SEK 9,485 million (6,933). The increase in net sales was driven by an increased aluminium price and a higher average fabrication price. Changes in foreign exchange rates had a net positive effect of SEK 194 million. During January-September 2026, Gränges sales volume increased by 4 percent to 481.4 ktonnes (464.2) compared to the corresponding period previous year. Net sales increased to SEK 27 ,403 million (21,140) and changes in foreign exchange rates had a net negative effect on net sales of SEK 694 million. Operating profit Adjusted operating profit for the third quarter 2026 increased to SEK 596 million (398). The increased operating profit was driven by a favorable geographic and product mix, increased average fabrication price, and improved recycling fueled by increased market scrap spreads. This was partly offset by wage and other cost inflation. Changes in foreign exchange rates, including currency hedges, had a negative impact of SEK 20 million. Adjusted operating profit per tonne increased to 3.9 kSEK (2.6). Operating profit for the third quarter 2026 increased to SEK 546 million (398) and includes items affecting comparability of SEK -49 million (-) related to the fire in the second quarter at the Shandong production facility. For further information, see Note 5. During the period January–September 2026, adjusted ope- rating profit increased to SEK 1,635 million (1,242), and adjusted operating profit per tonne increased to 3.4 kSEK (2.7). ● Continued market share gains offset weak end-market demand ● Reduced production capacity in Asia following fire at Shandong facility ● Improved mix, pricing and recycling more than offset inflation, driving record adjusted operating profit Gränges Group External sales volume growth Q3, 2026 0 25 50 75 100 125 150 175 0 100 200 300 400 500 600 700 2024 2025 2026 Q4 Q2Q1 Q3Q4 Q1 Q2 Q3Q3 0 100 200 300 400 500 600 0 400 800 1,200 1,600 2,000 2,400 2024 2025 2026 Q4 Q2Q1 Q3Q4 Q1 Q2 Q3Q3 ktonnes SEK million Sales volume Adjusted operating profit ktonnes, 12-months rolling SEK million, 12-months rolling Automotive Industrial Packaging Climate control Total Share of total sales volume, rolling 12-months 39% 29% 16% 15% 100% Gränges Americas -1% -8% -3% 22% 6% Gränges Asia 18% -48% - - - - -12% Gränges Europe 9% 8% -7% - - 7% Total 12% -21% -4% 22% 1%
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6 GRÄNGES AB (PUBL) INTERIM REPORT Q3, 2026 GRÄNGES GROUP Changes in foreign exchange rates had a net negative impact of SEK 137 million compared with the corresponding period previous year. Operating profit increased to SEK 1,571 million (1,242) and included items affecting comparability of SEK -64 million (-). For further information, see Note 5. Profit for the period Profit before tax for the third quarter 2026 increased to SEK 476 million (318). Profit or loss from associates and joint ventures amounted to SEK -4 million (-5) and finance income and costs was SEK -66 million (-7 4). Income tax for the third quarter 2026 was SEK -89 million (-65) which corresponds to an effective tax rate of 19 percent (20). The profit for the period increased to SEK 388 million (253) and diluted earnings per share increased to SEK 3.63 (2.27). For the period January–September 2026, profit before tax increased to SEK 1,372 million (1,010). Finance income and costs was SEK -190 million (-219). Income tax for the period was SEK -257 million (-203) which corresponds to an effective tax rate of 19 percent (20). The profit for the period increased to SEK 1,114 million (807) and diluted earnings per share increased to SEK 10.32 (7 .22). Cash flow Operating cash flow increased to SEK 396 million (317) in the third quarter 2026. Changes in working capital had a negative impact on cash flow of SEK 186 million, including a temporary negative impact from alternative supply solutions in Asia and a favorable impact of approximately SEK 150 million related to the decreased aluminium price. Total capital expenditure amounted to SEK -183 million. Income taxes paid amounted to SEK -106 million (-61) in the third quarter 2026. Cash flow from financing activities was SEK -371 million (-355) in the quarter and included new loans of SEK 2,141 million, and repayment of loans of SEK -2,463 million. During January–September 2026, operating cash flow was SEK -92 million (783). Changes in working capital had a negative 0 100 200 300 400 500 0 400 800 1,200 1,600 2,000 2024 2025 2026 Q4 Q2Q1 Q3Q4 Q1 Q2 Q3Q3 Profit for the period SEK million Financial net debt Financial net debt to EBITDA 0 1,000 2,000 3,000 4,000 5,000 6,000 0.0 0.5 1.0 1.5 2.0 2.5 3.0 202 4 2025 2026 Q4 Q2Q1 Q3Q4 Q1 Q2 Q3Q3 SEK million, 12-months rolling Financial net debt to EBITDA impact on cash flow of SEK 1,893 million, of which approximately SEK 1,000 million was related to the increased aluminium price. Total capital expenditure amounted to SEK -415 million. During January–September 2026, income taxes paid amounted to SEK -232 million (-193). Cash flow from financing activities was SEK 550 million (-651) and includes a dividend payment of SEK -179 million, new loans of SEK 6,230 million and repayment of loans of SEK -5,353 million. Cash and cash equivalents amounted to SEK 847 million on September 30, 2026 (SEK 679 million on September 30, 2025). Capital structure and returns Capital employed amounted to SEK 17 ,327 million on Septem- ber 30, 2026 (SEK 14,516 million on September 30, 2025), and the return on capital employed increased to 12.6 percent on a rolling 12-month basis (10.8 percent on September 30, 2025). Financial net debt was SEK 4,987 million on September 30, 2026 (SEK 3,825 million on September 30, 2025), corresponding to 1.7x adjusted EBITDA (1.6x on September 30, 2025). Equity amounted to SEK 11,863 million on Septem- ber 30, 2026 (SEK 10,176 million on September 30, 2025), and the return on equity increased to 12.6 percent on a rolling 12-month basis (9.7 percent on September 30, 2025). Employees The average number of employees was 3,541 (3,477) in the third quarter and 3,536 (3,453) during the period January – September 2026. Parent company Gränges AB is the parent company of the Gränges Group. Its operations include Group Management and Group functions such as finance, controlling, IT security, strategy, sustainability, and communication. As per September 2026, net sales in the parent company amounted to SEK 96 million (93). Net result for the period amounted to SEK 589 million (-107) and includes SEK 631 million (-) in dividends from the US subsidiary.
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7 GRÄNGES AB (PUBL) INTERIM REPORT Q3, 2026 Gränges Americas experienced a mixed market development in the third quarter 2026, while continued market share gains supported volume growth. Sales to Climate control customers increased by 22 percent compared to the third quarter last year, driven by a recovery of the HVAC market and continued market share gains. Packaging sales decreased by 3 percent, primarily due to high comparables in the corresponding quarter last year. Sales to Industrial customers decreased by 8 percent, reflecting soft demand among building and construction customers, while sales to Automotive decreased by 1 percent. Total sales volume in the third quarter increased by 6 percent to 63.4 ktonnes (59.7). Total net sales increased by 49 percent to SEK 4,966 million (3,322). The increase in net sales was driven by a higher average fabrication price, increased aluminium price, and sales volume growth. Changes in foreign exchange rates had a net positive effect on total net sales of SEK 73 million. During the period January–September 2026, total sales volume increased by 6 percent to 190.9 ktonnes (180.7) and total net sales increased to SEK 13,976 million (9,765). Adjusted operating profit for the third quarter 2026, increased to SEK 490 million (284). The increase in operating profit was driven by higher sales volume, excellent operational performance, a higher average fabrication price, and improved recycling fueled by improved market scrap spreads. This was partly offset by wage and other cost inflation. Changes in foreign exchange rates had a net positive effect of SEK 7 million compared with the third quarter previous year. The adjusted operating profit per tonne increased to 7 .7 kSEK (4.8). During the period January–September 2026, the adjusted operating profit increased to SEK 1,317 million (897). By September 30, 2026, the return on capital employed increased to 27 .7 percent on a rolling 12-month basis (19.2 percent on September 30, 2025). ● Record adjusted operating profit in the third quarter ● HVAC market recovery and share gains supported sales volume growth ● Excellent operations, growth, price and recycling offset cost inflation Gränges Americas Q3 Jan–Sep 12 months rolling 12 months rolling SEK million 2026 2025 2026 2025 Oct 2025– Sep 2026 Oct 2024– Sep 2025 Total sales volume, ktonnes 63.4 59.7 6.2% 190.9 180.7 5.6% 249.3 235.2 Total net sales 4,966 3,322 49.5% 13,976 9,765 43.1% 1 7,4 5 9 12,603 Adjusted operating profit 490 284 72.5% 1,317 897 46.9% 1,595 1,089 Adjusted operating profit per tonne, kSEK 7.7 4.8 3.0 6.9 5.0 1.9 6.4 4.6 Capital employed 5,875 5,556 319 5,875 5,556 319 5,765 5,670 Return on capital employed, % 27.7 19.2 8.5 pp 27.7 19.2 8.5 pp 27.7 19.2 SEK million SEK million, 12-months rolling ktonnes, 12-months rollingktonnes Financial summary 0 25 50 75 0 100 200 300 2024 2025 2026 Q4 Q2Q1 Q3Q4 Q1 Q2 Q3Q3 0 100 200 300 400 500 0 400 800 1,200 1,600 2,000 2024 2025 2026 Q4 Q2Q1 Q3Q4 Q1 Q2 Q3Q3 Sales volume Adjusted operating profit
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8 GRÄNGES AB (PUBL) INTERIM REPORT Q3, 2026 Gränges Asia experienced weak market conditions in the third quarter 2026. Sales volume to Automotive customers increased by 17 percent compared with the same quarter last year, as market share gains and new business to electric vehicles more than offset weak market demand. Sales to Industrial customers decreased by 49 percent, due to reduced production capacity following the fire at the Shandong facility in the second quarter. This primarily affected sales of lower-margin products. Total sales volume decreased by 12 percent to 43.9 ktonnes (49.9). Total net sales increased by 9 percent to SEK 1,922 million (1,771). The negative effects from the decreased sales volume and lower average fabrication price were more than offset by an increased aluminium price. Changes in foreign exchange rates had a positive effect on total net sales of SEK 144 million. During the period January–September 2026, total sales volume decreased by 6 percent to 144.5 ktonnes (153.9) and total net sales increased to SEK 5,910 million (5,609). Adjusted operating profit for the third quarter 2026 was SEK 71 million (94). The negative effects from lower sales volume and lower average fabrication price were partly offset by a favorable product mix. Changes in foreign exchange rates had a net positive effect of SEK 1 million compared with the third quarter previous year. Adjusted operating profit per tonne was 1.6 kSEK (1.9). During the period January–September 2026, the adjusted operating profit amounted to SEK 202 million (278). By September 30, 2026, the return on capital employed was 6.2 percent on a rolling 12-month basis (9.6 percent on September 30, 2025). ● Reduced production capacity following fire at Shandong facility ● Weak demand was compensated for by market share gains ● Favorable product mix partly offset price pressure and lower sales volume Gränges Asia SEK million SEK million, 12-months rolling ktonnes, 12-months rollingktonnes Q3 Jan–Sep 12 months rolling 12 months rolling SEK million 2026 2025 2026 2025 Oct 2025– Sep 2026 Oct 2024– Sep 2025 Total sales volume, ktonnes 43.9 49.9 -12.1% 144.5 153.9 -6.2% 195.8 192.6 Total net sales 1,922 1,771 8.5% 5,910 5,609 5.4% 7,76 3 7 ,200 Adjusted operating profit 71 94 -24.6% 202 278 -27 .3% 265 327 Adjusted operating profit per tonne, kSEK 1.6 1.9 -0.3 1.4 1.8 -0.4 1.4 1.7 Capital employed 5,101 3,595 1,506 5,101 3,595 1,506 4,267 3,408 Return on capital employed, % 6.2 9.6 -3.4 pp 6.2 9.6 -3.4 pp 6.2 9.6 Financial summary 0 25 50 75 0 100 200 300 2024 2025 2026 Q4 Q2Q1 Q3Q4 Q1 Q2 Q3Q3 0 25 50 75 100 125 0 100 200 300 400 500 2024 2025 2026 Q4 Q2Q1 Q3Q4 Q1 Q2 Q3Q3 Sales volume Adjusted operating profit
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9 GRÄNGES AB (PUBL) INTERIM REPORT Q3, 2026 ● Continued weak market demand ● Market share gains supported volume growth ● Growth, pricing, and recycling offset cost inflation and currency headwind Gränges Europe SEK million SEK million, 12-months rolling ktonnes, 12-months rollingktonnes 0 20 40 60 0 60 120 180 240 2024 2025 2026 Q4 Q2Q1 Q3Q4 Q1 Q2 Q3Q3 0 25 50 75 100 125 0 100 200 300 400 500 2024 2025 2026 Q4 Q2Q1 Q3Q4 Q1 Q2 Q3Q3 Gränges Europe continued to face a generally weak underlying market demand in the third quarter of 2026. Despite this, sales volume increased, supported by continued market share gains. Sales volume to Automotive and Industrial customers increased by 7 percent and 8 percent respectively, while sales to Packaging customers decreased by 7 percent. Total sales volume in the third quarter increased by 6 percent to 51.9 ktonnes (49.0). Total net sales increased by 37 percent to SEK 2,898 million (2,108), driven by an increased aluminium price, higher sales volume, and a higher average fabrication price. The translation effect on total net sales from changes in foreign exchange rates was SEK -19 million. During the period January–September 2026, total sales volume increased by 12 percent to 158.8 ktonnes (142.3) while total net sales increased to SEK 8,292 million (6,441). Adjusted operating profit for the third quarter 2026 increased to SEK 75 million (65). The increase in operating profit was driven by higher sales volume, higher average fabrication price, and improved recycling fueled by increased market scrap spreads. This was partly offset by cost increas- es and changes in foreign exchange rates, that including currency hedges, had a net negative effect of SEK 28 million compared with the third quarter previous year. The adjusted operating profit per tonne increased to 1.4 kSEK (1.3). During the period January–September 2026, the adjusted operating profit increased to SEK 234 million (186). By September 30, 2026, the return on capital employed was 5.1 percent on a rolling 12-month basis (5.1 percent on September 30, 2025). Sales volume Adjusted operating profit Financial summary Q3 Jan–Sep 12 months rolling 12 months rolling SEK million 2026 2025 2026 2025 Oct 2025– Sep 2026 Oct 2024– Sep 2025 Total sales volume, ktonnes 51.9 49.0 5.7% 158.8 142.3 11.6% 206.8 183.4 Total net sales 2,898 2,108 3 7. 5 % 8,292 6,441 28.7% 10,451 8,416 Adjusted operating profit 75 65 15.0% 234 186 26.1% 323 307 Adjusted operating profit per tonne, kSEK 1.4 1.3 0.1 1.5 1.3 0.2 1.6 1.7 Capital employed 6,937 6,043 894 6,937 6,043 894 6,394 6,045 Return on capital employed, % 5.1 5.1 0.0 pp 5.1 5.1 0.0 pp 5.1 5.1
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10 GRÄNGES AB (PUBL) INTERIM REPORT Q3, 2026 Emissions and climate impact In the third quarter 2026, Gränges’ total greenhouse gas (GHG) emission intensity decreased by 8 percent to 5.9 tonnes CO2e/ tonne (6.5). This was driven by lower scope 3 emissions as a result of higher share of recycled aluminium and increased use of low-carbon primary aluminium, particularly in Gränges Americas. Scope 1 and 2 GHG emission intensity decreased by 12 percent. The improvement was mainly driven by increased use of fossil-free electricity in Gränges Americas, a continued high share of fossil- free electricity in Gränges Europe, and ongoing focus on energy reduction through efficiency programs across the Group. The positive development in the Group’s total GHG emission intensity was partly offset by reduced sales volumes in Asia, which increased GHG emission intensity in the region. As per September 30, 2026, the total GHG emission intensity on a rolling 12-month basis had been reduced by 51 percent compared to the baseline year 2021. Recycling and circularity In the third quarter 2026, the sourced recycled aluminium volume increased by 13 percent compared to the same quarter previous year, reaching 85 ktonnes (75). This corre- sponds to 48.2 percent (45.1) recycled aluminium of total sourced metal input. The increase was mainly driven by Gränges Americas, with record-high share of 73 percent recycled aluminium in the quarter. This was a result of continued efforts in sourcing recycled aluminium combined with optimized metal blending reducing primary input materials in the casthouses. On a rolling 12-month basis, the total sourced recycled aluminium volume increased to 327 ktonnes on September 30, 2026, corresponding to seven times the volume in the 2017 baseline year. Sustainability ● Continued advancement in decarbonization and circularity ● GHG emission intensity down 8 percent, year-over-year ● Increased recycled aluminium driven by high share in Gränges Americas Q3 Jan–Sep 12 months rolling 12 months rolling 2026 2025 2026 2025 Oct 2025– Sep 2026 Oct 2024– Sep 2025 Total GHG emission intensity (scope 1+2+3), tonnes CO2e/tonne1 5.9 6.5 -8% 5.9 6.8 -12% 6.0 7. 0 GHG emission intensity (scope 1+2), tonnes CO2e/tonne1 0.59 0.67 -12% 0.61 0.68 -10% 0.64 0.67 GHG emission intensity (scope 3), tonnes CO2e/tonne1 5.3 5.8 -8% 5.3 6.1 -13% 5.4 6.3 Sourced recycled aluminium, ktonnes 85 75 13% 248 221 12% 327 285 Sourced recycled aluminium, % 48.2 45.1 3.1 pp 47. 9 44.4 3.5 pp 47.7 44.5 Sustainability performance Share of sourced recycled aluminium % %, 12-months rolling 0 10 20 30 40 50 2024 2025 2026 Q4 Q2Q1 Q3Q4 Q1 Q2 Q3Q3 Greenhouse gas emission intensity 1 tCO2e/tonne Scope 1+2 Scope 3 0 2 4 6 8 10 2024 2025 2026 Q4 Q2Q1 Q3Q4 Q1 Q2 Q3Q3 tCO2e/tonne, 12-months rolling 1 Quarterly data may be adjusted in the year-end report when annual emission factors have been confirmed. Scope 2 data is calculated with a market-based approach.
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11 GRÄNGES AB (PUBL) INTERIM REPORT Q3, 2026 Fire in Shandong On May 24, 2026, a fire occurred during maintenance work at Gränges’ production facility in Shandong, China. The fire resulted in damage to an electrical installation connected to the hot-rolling mill. No one was injured. No rolling mills sustained structural damage. However, production in the Shandong facility will be reduced until the damaged electrical system has been reinstalled and commissioned. The commissioning is currently expected to be completed before year end. In the third quarter, the incident resulted in a reduction of sales volume of Industrial products of approximately 10 ktonnes and additional costs for alternative supply solutions of SEK 49 million, accounted for as items affecting compara- bility (see note 5). Until the commissioning is completed sales volume is expected to be negatively impacted by approxi- mately 10 ktonnes per quarter, and additional costs for alternative supply solutions are expected to amount to approximately SEK 50 million per quarter. The Shandong facility is insured against property damage and business interruption. Costs for alternative supply solutions and insurance compensation will be accounted for as items affecting comparability. Significant events during the period: ● As of August 12, 2026, Gränges AB has increased the number of shares and votes in the company. See note 6 for further information. Significant events after the period No significant events have occurred after the period. The share and owners The share capital in Gränges amounts to SEK 143 million split into 106,594,428 shares, each with a quota value of SEK 1.3397752. Gränges has only one class of shares. The number of known shareholders in Gränges was 16,266 on September 30, 20261. OTHER INFORMATION Largest shareholders in Gränges, September 30, 2026¹ Shareholder Number of shares Share of capital and votes % Fourth Swedish National Pension Fund 9,600,000 9.0 AFA Försäkring 7 ,498,654 7. 0 Handelsbanken Fonder 6,228,109 5.8 Swedbank Robur Fonder 6,217 ,957 5.8 Carnegie Fonder 4,932,932 4.6 Vanguard 4,264,805 4.0 Dimensional Fund Advisors 4,083,358 3.8 Alecta Tjänstepension 3,900,000 3.7 BlackRock 2,884,47 4 2.7 Fidelity Investments (FMR) 2,215,526 2.1 Total 10 largest shareholders 51,825,815 48.5 Other 54,768,613 51.5 Total 106,594,428 100.0 1 Source: Modular Finance Nomination Committee appointed The Nomination Committee for Gränges Annual General Meeting 2027 has been appointed. The Nomination Com- mittee consist of representatives from the three largest shareholders as of August 31, 2026, and the Chairman of the Board, Fredrik Arp. The Fourth Swedish National Pension Fund is represented by Martin Nilsson, AFA Insurance by Anna Hääger and Swedbank Robur by Celia Lind. The Chairman of the Nomination Committee is Martin Nilsson. Annual General Meeting 2027 Gränges’ 2027 Annual General Meeting will be held on Wednesday May 5, 2027 , at 15.30 CEST in Stockholm. Shareholders who wish to have a matter considered at the Annual General Meeting should submit such requests seven weeks before the meeting at the latest.
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12 GRÄNGES AB (PUBL) INTERIM REPORT Q3, 2026 Risks and uncertainties As a global group with operations in different parts of the world, Gränges is exposed to various risks and uncertainties such as raw material price risk, market risk, operational and legal risk, as well as financial risks related to foreign exchange rates, interest rates, liquidity and refinancing. Gränges’ risk management process aims to identify, assess and reduce risks related to the Group’s business and operations. More information about risk management is available on pages 45–54 in Gränges Annual and Sustainability Report 2025. Seasonal variations Gränges’ customers are found in the automotive industry, the climate control industry, the packaging industry, as well as in industrial markets. Gränges’ sales to the automotive industry are highly correlated with the production of light vehicles. Sales to the climate control industry are impacted by factors such as construction investments, new regulations for energy efficiency and climate impact, and it is usually higher during the summer period driven by a seasonally higher demand for cooling systems. Sales to the packaging and other industries are fairly stable throughout the year. Major annual maintenance work in Gränges’ production facilities mainly occurs in the fourth quarter. Overall, the fourth quarter is usually the weakest quarter and the second quarter usually the strongest quarter of the year. Stockholm, October 22, 2026 Jörgen Rosengren President and CEO OTHER INFORMATION
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Financial & sustainability statements
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GRÄNGES AB (PUBL) INTERIM REPORT Q3, 202614 FINANCIAL & SUSTAINABILITY STATEMENTS Consolidated statement of comprehensive income (condensed) Consolidated income statement (condensed) SEK million Note Jul – Sep 2026 Jul – Sep 2025 Jan – Sep 2026 Jan – Sep 2025 Jan – Dec 2025 Net sales 2 9,485 6,933 27,4 0 3 21,140 28,362 Cost of materials -7 ,047 -4,880 -20,345 -14,893 -20,008 Payroll and other operating expenses -1,624 -1,449 -4,787 -4,362 -5,887 Depreciation, amortization and impairment charges -219 -207 -637 -643 -852 Items affecting comparability 5 -49 - -64 - - Operating profit 546 398 1,571 1,242 1,614 Profit or loss from associates and joint ventures -4 -5 -9 -13 -17 Finance income and costs -66 -74 -190 -219 -280 Profit before tax 476 318 1,372 1,010 1,317 Income tax -89 -65 -257 -203 -259 Profit for the period 388 253 1,114 807 1,058 Profit for the period attributable to - owners of the parent company 387 242 1,101 769 1,015 - non-controlling interests 1 12 14 38 43 Earnings per share Earnings per share attributable to owners of the parent company, basic, SEK 3.63 2.27 10.33 7. 2 3 9.55 Earnings per share attributable to owners of the parent company, diluted, SEK 3.63 2.27 10.32 7 .22 9.54 SEK million Jul – Sep 2026 Jul – Sep 2025 Jan – Sep 2026 Jan – Sep 2025 Jan – Dec 2025 Profit for the period 388 253 1,114 807 1,058 Items not to be reclassified to profit/loss in subsequent periods Remeasurement of pensions after tax - - - - 13 Items to be reclassified to profit/loss in subsequent periods Change in hedging reserve after tax -55 -42 2 -5 -36 Translation effects 253 -79 828 -1,135 -1,298 Comprehensive income for the period 586 132 1,944 -332 -263 Comprehensive income for the period attributable to – owners of the parent company 556 122 1,838 -280 -212 – non-controlling interests 29 11 106 -52 -51
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GRÄNGES AB (PUBL) INTERIM REPORT Q3, 202615 FINANCIAL & SUSTAINABILITY STATEMENTS Consolidated balance sheet (condensed) Consolidated changes in equity (condensed) SEK million Note 30 Sep 2026 30 Sep 2025 31 Dec 2025 ASSETS Intangible assets 1,350 1,363 1,330 Property, plant and equipment 8 ,749 8,504 8,423 Right-of-use assets 241 261 263 Deferred tax assets 109 78 64 Investments in associates and joint ventures 4 202 193 187 Other non-current receivables 3 301 127 224 Non-current assets 10,952 10,525 10,493 Inventories 7 ,223 5,110 5,477 Receivables 3 5,576 4,185 4,113 Interest-bearing receivables 3 0 0 4 Cash and cash equivalents 847 679 547 Current assets 13,647 9,974 10,142 TOTAL ASSETS 24,599 20,499 20,634 EQUITY AND LIABILITIES Equity 6 11,863 10,176 10,255 Interest-bearing liabilities 3 2,470 1,726 1,900 Provisions and other non-current liabilities 3 920 925 874 Non-current liabilities 3,391 2,651 2,774 Interest-bearing liabilities 3 3,612 3,053 2,994 Provisions and other current liabilities 3 5,734 4,620 4,611 Current liabilities 9,345 7, 67 3 7 ,605 TOTAL EQUITY AND LIABILITIES 24,599 20,499 20,634 SEK million Note 30 Sep 2026 30 Sep 2025 31 Dec 2025 Opening balance 10,255 10,838 10,838 Profit for the period 1,114 807 1,058 Other comprehensive income for the period 829 -1,139 -1,321 Total comprehensive income for the period 1,944 -332 -263 Dividend -357 -340 -340 Share swap - 10 12 Received warrant premiums 16 - 8 Exercise of call options - -1 -1 Share issue 6 5 0 0 Total transactions with owners of the parent company -336 -331 -320 Closing balance 11,863 10,176 10,255 Equity attributable to – owners of the parent company 11,212 9,631 9,710 – non-controlling interests 651 545 545
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GRÄNGES AB (PUBL) INTERIM REPORT Q3, 202616 FINANCIAL & SUSTAINABILITY STATEMENTS Parent company income statement (condensed) Consolidated statement of cash flows (condensed) SEK million Note Jul – Sep 2026 Jul – Sep 2025 Jan – Sep 2026 Jan – Sep 2025 Jan – Dec 2025 Operating profit 546 398 1,571 1,242 1,614 Depreciation, amortization and impairment charges 219 207 645 643 852 Change in working capital -186 -118 -1,893 -552 -853 Income taxes paid -106 -61 -232 -193 -272 Cash flow from operating activities 473 426 91 1,139 1,342 Investments in property, plant, equipment and intangible assets -183 -170 -415 -549 -773 Divestments 0 0 0 0 0 Cash flow from investing activities -183 -170 -415 -548 -772 Dividend - - -179 -170 -340 Share swap - - - 10 12 Share issue 6 3 0 5 0 0 Received warrant premiums - - 16 - 8 Exercise of call options - - - -1 -1 Interest paid and received -51 -67 -169 -196 -262 New loans 2,141 961 6,230 4,285 5,399 Repayment of loans -2,463 -1,249 -5,353 -4,579 -5,567 Cash flow from financing activities -371 -355 550 -651 -750 Cash flow for the period -82 -99 226 -60 -181 Cash and cash equivalents at beginning of period 890 796 547 850 850 Cash flow for the period -82 -99 226 -60 -181 Exchange rate differences in cash and cash equivalents 38 -18 75 -110 -122 Cash and cash equivalents at end of period 847 679 847 679 547 SEK million Jul – Sep 2026 Jul – Sep 2025 Jan – Sep 2026 Jan – Sep 2025 Jan – Dec 2025 Net sales 33 30 96 93 203 Payroll and other operating expenses -45 -65 -169 -230 -267 Operating profit/loss -13 -34 -73 -138 -64 Dividends from subsidiaries 490 - 631 - - Finance income and costs 0 3 11 19 18 Profit/loss after financial items 477 -31 568 -119 -46 Income tax 8 -3 21 12 4 Profit/loss for the period 485 -34 589 -107 -42
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GRÄNGES AB (PUBL) INTERIM REPORT Q3, 202617 FINANCIAL & SUSTAINABILITY STATEMENTS Parent company balance sheet (condensed) SEK million Note 30 Sep 2026 30 Sep 2025 31 Dec 2025 ASSETS Shares in Group companies 4,418 4,418 4,418 Deferred tax assets 87 74 64 Receivables from Group companies 1,710 - - Other non-current receivables 293 118 213 Non-current assets 6,508 4,610 4,695 Receivables from Group companies 1,452 2,651 2,593 Other receivables 149 93 121 Cash and cash equivalents 419 373 187 Current assets 2,020 3,117 2,901 TOTAL ASSETS 8,528 7,7 27 7, 5 9 6 EQUITY AND LIABILITIES Equity 6 3,853 3,522 3,598 Interest-bearing liabilities 2,286 1,497 1,67 4 Provisions and other non-current liabilities 52 46 47 Non-current liabilities 2,338 1,543 1,722 Liabilities to Group companies 763 408 362 Interest-bearing liabilities 1,190 1,927 1,691 Provisions and other current liabilities 384 327 224 Current liabilities 2,336 2,662 2,277 TOTAL EQUITY AND LIABILITIES 8,528 7,7 27 7, 5 9 6
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GRÄNGES AB (PUBL) INTERIM REPORT Q3, 202618 FINANCIAL & SUSTAINABILITY STATEMENTS Note 1 Accounting principles The Gränges Group applies International Financial Reporting Standards (IFRS) as endorsed by the EU. The accounting principles adopted are consis- tent with those described in the Annual Report for Gränges AB (publ) 2025. This interim report has been prepared in accordance with IAS 34 Interim Financial Reporting and the Swedish Annual Accounts Act. The Parent Company applies the Swedish Annual Accounts Act and RFR 2 Reporting for Legal Entities. New standards, amendments and interpretations effective from January 1, 2026, or later have not had any material impact on this financial report. Gränges is currently evaluating how IFRS 18 Presentation and Disclo- sures in Financial Statements, issued by the IASB, will impact the financial report. The standard will be applicable for reporting periods starting from January 1, 2027 , and onwards. The interim information on pages 2–20 is an integrated part of these financial statements. Notes Continues on the next page… SEK million Jul – Sep 2026 Jul – Sep 2025 Jan – Sep 2026 Jan – Sep 2025 Jan – Dec 2025 Net sales by business area Gränges Americas Fabrication revenue 1,426 1,191 4,147 3,689 4,828 Raw material and other revenue 3,536 2,130 9,819 6,071 8,416 Revenue from contracts with customers 4,962 3,320 13,966 9,760 13,243 Other revenue 4 2 9 5 4 Total net sales Gränges Americas 4,966 3,322 13,976 9,765 13,248 Gränges Asia Fabrication revenue 485 480 1,410 1,515 1,994 Raw material and other revenue 1,434 1,289 4,494 4,066 5,434 Revenue from contracts with customers 1,919 1,770 5,904 5,581 7,4 27 Other revenue 3 1 7 27 33 Total net sales Gränges Asia 1,922 1,771 5,910 5,609 7,4 61 Gränges Europe Fabrication revenue 1,185 889 3,315 2,652 3,556 Raw material and other revenue 1,703 1,208 4,948 3,759 5,000 Revenue from contracts with customers 2,888 2,097 8,262 6,412 8,555 Other revenue 10 11 29 29 45 Total net sales Gränges Europe 2,898 2,108 8,292 6,441 8,600 Note 2 Revenue from contracts with customers Gränges’ revenue is generated through sale of material that is produced for a certain customer and application. Revenue is recognized at the point in time when control is transferred to the customer. The transaction price for Gränges’ products is based on the added value Gränges offers in terms of material properties and production complexity (fabrication price), and the price of the raw material, aluminium. The fabrication price is to a large extent pre-defined while the aluminium price is variable and based on metal price clauses connected to the market price. The table below shows Gränges’ net sales by business area divided by type of revenue.
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GRÄNGES AB (PUBL) INTERIM REPORT Q3, 202619 FINANCIAL & SUSTAINABILITY STATEMENTS Note 3 Financial instruments The Group’s financial assets consist of lending, accounts receivable, cash and cash equivalents as well as derivatives. The Group’s financial liabilities consist of borrowings and accounts payable as well as derivatives. The table below shows the fair value of the derivatives (foreign exchange, aluminium and interest rate derivatives) included in the balance sheet. All derivatives are measured at fair value and classified as Level 2, meaning the significant inputs required for measurement are observable. The fair value of foreign exchange derivatives is calculated by discounting the difference between the contracted forward rate and the forward rate available on the balance sheet date for the remaining contract term. Aluminium derivatives are measured using observable quoted prices on the London Metal Exchange (LME) and the Shanghai Futures Exchange (SHFE) for comparable assets and liabilities. Interest rate derivatives are measured using forward rates derived from observable interest rate curves and by discounting the contractual cash flows. Gränges’ interest-bearing liabilities consist of financing from banks, credit institutions, and the credit market. …continued from previous page. SEK million Jul – Sep 2026 Jul – Sep 2025 Jan – Sep 2026 Jan – Sep 2025 Jan – Dec 2025 Other and eliminations Fabrication revenue -162 -156 -422 -381 -540 Raw material and other revenue -139 -112 -353 -293 -407 Revenue from contracts with customers -301 -268 -774 -674 -947 Other revenue - - - - - Total net sales other and eliminations -301 -268 -774 -674 -947 Total fabrication revenue 2,934 2,404 8,450 7,476 9,838 Total raw material and other revenue 6,533 4,515 18,908 13,602 18,441 Total revenue from contracts with customers 9,468 6,919 27 ,358 21,078 28,279 Total other revenue 17 15 45 62 83 Total net sales 9,485 6,933 27,4 0 3 21,140 28,362 SEK million 30 Sep 2026 30 Sep 2025 31 Dec 2025 Non-current assets 291 118 215 Current assets 166 89 140 Non-current liabilities 6 46 40 Current liabilities 248 126 242 Year SEK million Limit/Program < 1 1 – 2 > 2 Total Term loans SEK 200 - 400 600 USD - - 698 698 Bonds in MTN program 3,000 - - 1,198 1,198 Commercial papers 2,000 946 - - 946 Revolving Credit Facilities 3,000 - - - - Lease liabilities 66 52 130 247 Other interest-bearing liabilities 2,399 -3 -4 2,392 Total interest-bearing liabilities 3,612 49 2,422 6,082 As of September 30, 2026, the outstanding term loans from banks and credit institutions amounted to USD 70 million and SEK 600 million, all structured as sustainability-linked loans. Gränges’ SEK 3,000 million sustainability-linked Revolving Credit Facility remained undrawn at the end of the period. Financing from the credit market included green bonds of SEK 1,198 million, issued under Gränges’ MTN program. The outstanding amount of SEK 184 million of Gränges sustainability-linked bond was repaid during the third quarter. Gränges has also issued commercial papers, with an outstanding volume of SEK 946 million.
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GRÄNGES AB (PUBL) INTERIM REPORT Q3, 202620 FINANCIAL & SUSTAINABILITY STATEMENTS Note 4 Related-party transactions No changes have been made to the Group or parent company in relations or transactions with related parties, compared to what is described in the 2025 Annual Report. During the period there have been no significant transactions with related parties. SEK million Event Change number of shares Total number of shares Change share capital Total share capital January 1, 2026 - - 106,462,154 - 143 February 23, 2026 Share issue 29,227 106,491,381 0 143 May 19, 2026 Share issue 32,824 106,524,205 0 143 August 12, 2026 Share issue 70,223 106,594,428 0 143 Note 6 Share capital development The number of shares and votes in Gränges AB (publ) increased during the first nine months of 2026 as a result of subscriptions of shares through the exercise of warrants issued under the incentive programmes IP 2022, adopted by the Annual General Meeting on May 4, 2022, and LTI 2023, adopted by the Annual General Meeting on June 14, 2023. Through the exercise of these warrants, the number of shares and votes increased by a total of 132,27 4 during the period, from 106,462,154 to 106,594,428. As a consequence, the share capital increased by SEK 177 ,217 , from SEK 142,635,356 to SEK 142,812,573. Each new share has a quota value of SEK 1.34. Other interest-bearing liabilities include short-term working capital loans of CNY 1,492 million. The majority of loan facilities from banks and credit institutions include customary financial covenants, such as Net Debt to EBITDA ratio and Interest Coverage Ratio. Interest-bearing liabilities are measured at amortized cost and the carrying amount as of September 30, 2026, was SEK 6,082 million (SEK 4,894 million as of December 31, 2025). The fair value of interest-bearing liabilities amounted to SEK 6,090 million as of September 30, 2026 (SEK 4,903 million as of December 31, 2025). For other receivables and liabilities, which are short-term, the carrying amount is considered to reflect the fair value. Note 5 Items affecting comparability SEK million Jul – Sep 2026 Jul – Sep 2025 Jan – Sep 2026 Jan – Sep 2025 Jan – Dec 2025 Costs related to the fire at the Shandong facility -49 - -64 - - Items affecting comparability -49 - -64 - - During the third quarter of 2026, costs of SEK 49 million were recognized in relation to the fire that occurred in May 2026 at the Group’s production facility in Shandong, China. The fire resulted in damage to an electrical installation connected to the hot-rolling mill. The costs for alternative supply solutions were recognized as items affecting comparability. During January-September 2026, accumulated costs related to the fire amounted to SEK 64 million, comprising asset impairments of SEK 8 million and costs for alternative supply solutions and remediation totaling SEK 56 million. The Shandong facility is insured against property damage and business interruption. No insurance compensation has been recognized during the period.
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GRÄNGES AB (PUBL) INTERIM REPORT Q3, 202621 FINANCIAL & SUSTAINABILITY STATEMENTS Consolidated quarterly data 2026 2025 2024 SEK million Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Sales volume, ktonnes 154.5 1 6 7.1 159.8 152.4 153.4 159.1 151.6 130.3 122.7 Income statement Net sales 9,485 9,682 8,237 7 ,222 6,933 6, 974 7 ,233 6,184 5,750 Adjusted EBITDA¹ 814 792 666 582 605 645 634 557 631 Adjusted operating profit¹ 596 580 459 373 398 436 409 324 420 Operating profit 546 565 459 373 398 436 409 276 420 Profit for the period 388 405 322 251 253 293 261 175 285 Adjusted operating profit per tonne, kSEK 3.9 3.5 2.9 2.4 2.6 2.7 2.7 2.5 3.4 Balance sheet Non-current assets 10,952 10,781 10,636 10,493 10,525 10,667 11,050 11,769 10,319 Current assets 13,647 13,687 12,252 10,142 9, 974 9,669 10,245 9,627 8,407 Equity 11,863 11,27 4 10,817 10,255 10,176 10,044 10,422 10,838 9,415 Non-current liabilities 3,391 3,377 2,700 2,77 4 2,651 3,299 3,376 2,881 3,414 Current liabilities 9,345 9,817 9,371 7 ,605 7, 6 7 3 6,993 7,49 6 7 ,677 5,896 Capital employed 17 ,327 16,908 15,894 14,824 14,516 14,577 15,146 15,709 12,758 Financial net debt 4,987 5,148 4,584 4,067 3,825 4,004 4,168 4,292 2,839 Cash flow Operating activities 473 -161 -221 202 426 477 236 -730 593 Investing activities -183 -109 -123 -224 -170 -138 -240 -1,150 -399 Financing activities -371 540 380 -99 -355 -360 64 1,507 69 Cash flow for the period -82 270 37 -121 -99 -21 60 -373 263 Operating cash flow 396 -155 -333 58 317 445 21 -1,048 275 Cash conversion 49 -20 -50 10 52 69 3 -188 44 Data per share, SEK² Earnings per share3 basic 3.63 3 .74 2.97 2.32 2.27 2.62 2.34 1.67 2.68 Earnings per share3 diluted 3.63 3.73 2.97 2.31 2.27 2.62 2.34 1.67 2.67 Equity 111.13 105.64 101.56 96.32 95.60 94.40 97. 87 101.82 88.43 Operating cash flow 3.71 -1.45 -3.13 0.54 2.98 4.19 0.20 -9.84 2.59 Share price at the end of the period 184.90 171.60 147 .90 145.70 116.80 121.30 113.90 131.70 121.80 Weighted outstanding ordinary shares, basic in thousands 106,562.5 106,507 .8 106,405.7 106,379.1 106,324.1 106,308.6 106,308.6 106,308.6 106,308.6 Weighted outstanding ordinary shares, diluted in thousands 106,750.3 106,721.5 106,503.6 106,469.6 106,439.0 106,391.0 106,491.6 106,446.9 106,473.3 1 Adjusted for items affecting comparability. 2 Calculated on weighted outstanding ordinary shares, diluted. 3 Calculated on profit attributable to the owners of the parent company.
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GRÄNGES AB (PUBL) INTERIM REPORT Q3, 202622 FINANCIAL & SUSTAINABILITY STATEMENTS Consolidated quarterly data 2026 2025 2024 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Sales volume by business area, ktonnes Gränges Americas 63.4 65.2 62.3 58.4 59.7 60.6 60.5 54.5 58.9 Gränges Asia 43.9 52.9 47.7 51.3 49.9 55.4 48.6 38.7 26.6 Gränges Europe 51.9 53.0 54.0 48.0 49.0 46.7 46.5 41.1 41.9 Other and eliminations -4.6 -4.0 -4.2 -5.3 -5.2 -3.6 -4.0 -3.9 -4.6 Total 154.5 1 67.1 159.8 152.4 153.4 159.1 151.6 130.3 122.7 Sales volume by market, ktonnes Automotive 64.7 63.8 61.7 59.4 57. 9 59.5 57. 2 52.3 46.7 Industrial 3 7. 9 50.8 47. 8 50.2 47. 8 50.8 46.1 35.8 29.2 Packaging 23.7 23.5 25.3 28.4 24.5 21.2 23.0 22.3 21.5 Climate control 28.2 28.9 25.0 14.4 23.1 27.7 25.4 19.9 25.3 Total 154.5 1 67.1 159.8 152.4 153.4 159.1 151.6 130.3 122.7 Net sales by business area, SEK million Gränges Americas 4,966 4,890 4,120 3,483 3,322 3,134 3,308 2,839 2,906 Gränges Asia 1,922 2,195 1,793 1,852 1,771 1,922 1,915 1,592 1,139 Gränges Europe 2,898 2,841 2,552 2,160 2,108 2,100 2,232 1,975 1,969 Other and eliminations -301 -244 -228 -273 -268 -183 -223 -222 -265 Total 9,485 9,682 8,237 7 ,222 6,933 6,974 7 ,233 6,184 5,750 Employees Average number of employees 3,541 3,555 3,511 3,507 3,477 3,456 3,425 3,407 2,773 Automotive Industrial Packaging Climate control Total Sales volume, ktonnes Q3 2026 Q3 2025 Q3 2026 Q3 2025 Q3 2026 Q3 2025 Q3 2026 Q3 2025 Q3 2026 Q3 2025 Gränges Americas 7.4 7. 5 9.0 9.8 18.8 19.3 28.2 23.1 63.4 59.7 Gränges Asia 32.6 27. 8 11.3 22.1 - - - - 43.9 49.9 Gränges Europe 29.3 27.4 1 7.7 16.4 4.9 5.3 - - 51.9 49.0 Other and eliminations -4.5 -4.8 -0.1 -0.4 - - - - -4.6 -5.2 Total 64.7 57. 9 37. 9 47. 8 23.7 24.5 28.2 23.1 154.5 153.4 Sustainability 1 Total GHG emission intensity (scope 1+2+3), tonnes CO2e/tonne 5.9 5.6 6.2 6.2 6.5 6.5 7. 3 7. 8 7. 8 GHG emission intensity (scope 1+2), tonnes CO2e/tonne 0.59 0.61 0.64 0.73 0.67 0.68 0.70 0.62 0.63 GHG emission intensity (scope 3), tonnes CO2e/tonne 5.3 5.0 5.6 5.5 5.8 5.8 6.6 7. 2 7.1 Sourced recycled aluminium, ktonnes 85 86 78 78 75 75 71 63 63 Sourced recycled aluminium, % 48.2 49.2 46.3 47.1 45.1 45.6 42.4 45.4 47.4 1 Quarterly data may be adjusted in the year-end report when annual emission factors have been confirmed. Scope 2 data is calculated with a market-based approach.
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GRÄNGES AB (PUBL) INTERIM REPORT Q3, 202623 FINANCIAL & SUSTAINABILITY STATEMENTS Consolidated 12-month rolling data 2026 2025 2024 SEK million Oct 2025 – Sep 2026 Jul 2025 – Jun 2026 Apr 2025 – Mar 2026 Jan 2025 – Dec 2025 Oct 2024 – Sep 2025 Jul 2024 – Jun 2025 Apr 2024 – Mar 2025 Jan 2024 – Dec 2024 Oct 2023 – Sep 2024 Sales volume, ktonnes 633.8 632.7 624.7 616.6 594.5 563.7 535.5 505.8 483.2 Income statement Net sales 34,625 32,07 4 29,366 28,362 27, 3 2 3 26,140 25,311 23,506 22,290 Adjusted EBITDA¹ 2,854 2,644 2,498 2,466 2,441 2,467 2,504 2,430 2,325 Adjusted operating profit¹ 2,008 1,810 1,665 1,614 1,566 1,588 1,624 1,571 1,492 Operating profit 1,943 1,795 1,665 1,614 1,518 1,540 1,576 1,523 1,492 Adjusted operating profit per tonne, kSEK 3.2 2.9 2.7 2.6 2.6 2.8 3.0 3.1 3.1 Capital structure and returns Capital employed² 15,894 15,344 14,991 14,954 14,541 14,216 13,875 13,254 12,587 Return on capital employed, % 12.6 11.8 11.1 10.8 10.8 11.2 11.7 11.9 11.9 Equity² 10,877 10,513 10,343 10,347 10,179 10,013 9,887 9,564 9,189 Return on equity, % 12.6 11.7 10.8 10.2 9.7 10.1 10.5 10.6 10.3 Financial net debt/Adjusted EBITDA 1.7 1.9 1.8 1.6 1.6 1.6 1.7 1.8 1.2 Cash flow Operating cash flow -35 -113 487 841 -265 -306 -453 -484 970 Cash conversion -1 -4 19 34 -11 -12 -18 -20 42 1 Adjusted for items affecting comparability. 2 Rolling 12-month average. Sustainability 3 Total GHG emission intensity (scope 1+2+3), tonnes CO2e/tonne 6.0 6.1 6.4 6.6 7. 0 7. 3 7. 5 7. 5 7. 6 GHG emission intensity (scope 1+2), tonnes CO2e/tonne 0.64 0.66 0.68 0.70 0.67 0.66 0.65 0.64 0.65 GHG emission intensity (scope 3), tonnes CO2e/tonne 5.4 5.5 5.7 5.9 6.3 6.6 6.8 6.9 7. 0 Sourced recycled aluminium, ktonnes 327 317 306 300 285 273 261 249 240 Sourced recycled aluminium, % 47.7 47. 0 46.0 45.1 44.5 44.9 45.1 46.2 45.8 3 Quarterly data may be adjusted in the year-end report when annual emission factors have been confirmed. Scope 2 data is calculated with a market-based approach.
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GRÄNGES AB (PUBL) INTERIM REPORT Q3, 202624 FINANCIAL & SUSTAINABILITY STATEMENTS Financials per business area Jul–Sep 2026 Jul–Sep 2025 SEK million Gränges Americas Gränges Asia Gränges Europe Other and eliminations Total Gränges Americas Gränges Asia Gränges Europe Other and eliminations Total Sales volume external, ktonnes 63.4 42.3 48.8 - 154.5 59.7 48.0 45.7 - 153.4 Sales volume internal, ktonnes - 1.6 3.0 -4.6 0 - 1.9 3.3 -5.2 0 Total sales volume 63.4 43.9 51.9 -4.6 154.5 59.7 49.9 49.0 -5.2 153.4 Income statement Net sales, external 4,966 1,849 2,669 - 9,485 3,322 1,694 1,917 - 6,933 Net sales, internal - 73 229 -301 0 - 76 192 -268 0 Total net sales 4,966 1,922 2,898 -301 9,485 3,322 1,771 2,108 -268 6,933 Depreciation, amortization and impairment charges -108 -33 -76 -1 -219 -102 -35 -69 -2 -207 Adjusted operating profit¹ 490 71 75 -40 596 284 94 65 -45 398 Adjusted operating profit per tonne, kSEK 7.7 1.6 1.4 n/a 3.9 4.8 1.9 1.3 n/a 2.6 Capital structure and returns Capital employed 5,875 5,101 6,937 -586 17 ,327 5,556 3,595 6,043 -677 14,516 Return on capital employed, % 27.7 6.2 5.1 n/a 12.6 19.2 9.6 5.1 n/a 10.8 Jan–Sep 2026 Jan–Sep 2025 SEK million Gränges Americas Gränges Asia Gränges Europe Other and eliminations Total Gränges Americas Gränges Asia Gränges Europe Other and eliminations Total Sales volume external, ktonnes 190.9 140.2 150.2 - 481.4 180.7 148.8 134.6 - 464.2 Sales volume internal, ktonnes - 4.2 8.6 -12.8 0 - 5.1 7.7 -12.8 0 Total sales volume 190.9 144.5 158.8 -12.8 481.4 180.7 153.9 142.3 -12.8 464.2 Income statement Net sales, external 13,976 5,728 7,70 0 - 27,4 0 3 9,765 5,394 5,981 - 21,140 Net sales, internal - 182 592 -7 74 0 - 214 460 - 674 0 Total net sales 13,976 5,910 8,292 -774 27,4 0 3 9,765 5,609 6,441 -674 21,140 Depreciation, amortization and impairment charges -316 -99 -217 -4 -637 -331 -109 -199 -5 -643 Adjusted operating profit¹ 1 317 202 234 -119 1,635 897 278 186 -119 1,242 Adjusted operating profit per tonne, kSEK 6.9 1.4 1.5 n/a 3.4 5.0 1.8 1.3 n/a 2.7 1 Adjusted for items affecting comparability.
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GRÄNGES AB (PUBL) INTERIM REPORT Q3, 202625 FINANCIAL & SUSTAINABILITY STATEMENTS Financials per business area Gränges Americas 2026 2025 2024 SEK million Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Sales volume external, ktonnes 63.4 65.2 62.3 58.4 59.7 60.6 60.5 54.5 58.9 Sales volume internal, ktonnes - - - - - - - - - Total sales volume, ktonnes 63.4 65.2 62.3 58.4 59.7 60.6 60.5 54.5 58.9 Income statement Net sales, external 4,966 4,890 4,120 3,483 3,322 3,134 3,308 2,839 2,906 Net sales, internal - - - - - - - - - Total net sales 4,966 4,890 4,120 3,483 3,322 3,134 3,308 2,839 2,906 Depreciation, amortization and impairment charges -108 -106 -101 -103 -102 -108 -121 -124 -115 Adjusted operating profit¹ 490 449 378 278 284 290 323 193 283 Adjusted operating profit per tonne, kSEK 7.7 6.9 6.1 4.8 4.8 4.8 5.3 3.5 4.8 Capital structure and returns Capital employed 5,875 5,944 5,973 5,479 5,556 5,565 5,795 6,067 5,366 Return on capital employed, % 27.7 24.4 21.7 20.6 19.2 19.2 19.7 19.1 19.0 Gränges Asia 2026 2025 2024 SEK million Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Sales volume external, ktonnes 42.3 51.6 46.4 49.3 48.0 53.9 46.9 3 7.4 24.6 Sales volume internal, ktonnes 1.6 1.4 1.3 2.1 1.9 1.5 1.7 1.3 1.9 Total sales volume, ktonnes 43.9 52.9 47.7 51.3 49.9 55.4 48.6 38.7 26.6 Income statement Net sales, external 1,849 2,136 1,7 43 1,769 1,694 1,862 1,838 1,529 1,045 Net sales, internal 73 59 51 83 76 60 78 63 94 Total net sales 1,922 2,195 1,793 1,852 1,771 1,922 1,915 1,592 1,139 Depreciation, amortization and impairment charges -33 -33 -33 -36 -35 -35 -39 -36 -27 Adjusted operating profit¹ 71 81 51 62 94 104 81 49 70 Adjusted operating profit per tonne, kSEK 1.6 1.5 1.1 1.2 1.9 1.9 1.7 1.3 2.6 Capital structure and returns Capital employed 5,101 4,702 4,218 3,717 3,595 3,441 3,642 3,971 2,392 Return on capital employed, % 6.2 7. 3 8.3 9.3 9.6 9.5 9.5 10.2 12.2
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GRÄNGES AB (PUBL) INTERIM REPORT Q3, 202626 FINANCIAL & SUSTAINABILITY STATEMENTS Financials per business area Gränges Europe 2026 2025 2024 SEK million Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Sales volume external, ktonnes 48.8 50.3 51.1 44.8 45.7 44.6 44.3 38.4 39.2 Sales volume internal, ktonnes 3.0 2.7 2.9 3.2 3.3 2.1 2.3 2.6 2.7 Total sales volume, ktonnes 51.9 53.0 54.0 48.0 49.0 46.7 46.5 41.1 41.9 Income statement Net sales, external 2,669 2,656 2,37 4 1,970 1,917 1,977 2,087 1,816 1,799 Net sales, internal 229 185 178 190 192 123 145 159 170 Total net sales 2,898 2,841 2,552 2,160 2,108 2,100 2,232 1,975 1,969 Depreciation, amortization and impairment charges -76 -71 -70 -70 -69 -66 -64 -70 -68 Adjusted operating profit¹ 75 87 73 89 65 74 47 121 96 Adjusted operating profit per tonne, kSEK 1.4 1.6 1.3 1.9 1.3 1.6 1.0 3.0 2.3 Capital structure and returns Capital employed 6,937 6,844 6,171 5,976 6,043 6,210 6,216 6,090 5,667 Return on capital employed, % 5.1 5.0 4.9 4.5 5.1 5.7 6.2 6.3 5.1 1 Adjusted for items affecting comparability.
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GRÄNGES AB (PUBL) INTERIM REPORT Q3, 202627 FINANCIAL & SUSTAINABILITY STATEMENTS Alternative performance measures Gränges makes use of the alternative performance measures Return on capital employed, Financial net debt/Adjusted EBITDA, Return on equity and Cash conversion. Gränges believes that these performance measures are useful for readers of the financial reports as a complement to other performance measures when assessing the possibility of dividends, the implementation of strategic investments, and the Group’s ability to meet financial commitments. Further, Gränges uses the alternative performance measures Adjusted operating profit, Adjusted operating profit per tonne and Adjusted EBITDA, which are measures that Gränges considers to be relevant for investors who want to understand the profit generation excluding items affecting comparability. For definitions of the measures, see page 30. Continues on the next page… Q3 Jan–Sep 12 months rolling 12 months rolling SEK million 2026 2025 2026 2025 Oct 2025– Sep 2026 Oct 2024– Sep 2025 Adjusted operating profit Operating profit 546 398 1,571 1,242 1,943 1,518 Items affecting comparability 49 - 64 - 64 48 Adjusted operating profit 596 398 1,635 1,242 2,008 1,566 Adjusted operating profit per tonne Adjusted operating profit 596 398 1,635 1,242 2,008 1,566 Sales volume, ktonnes 154.5 153.4 481.4 464.2 633.8 594.5 Adjusted operating profit per tonne, kSEK 3.9 2.6 3.4 2.7 3.2 2.6 Adjusted EBITDA Adjusted operating profit 596 398 1,635 1,242 2,008 1,566 Depreciation, amortization and impairment charges 219 207 637 643 846 875 Adjusted EBITDA 814 605 2,272 1,884 2,854 2,441 Capital employed Total assets less cash and cash equivalents and interest-bearing receivables 23,752 19,820 23,752 19,820 21,907 19,581 Non-interest-bearing liabilities -6,654 -5,545 -6,654 -5,545 -6,243 -5,282 Pensions 229 242 229 242 230 242 Capital employed 17 ,327 14,516 17 ,327 14,516 15,894 14,541 Return on capital employed Capital employed, rolling 12-month average - - - - 15,894 14,541 Adjusted operating profit - - - - 2,008 1,566 Return on capital employed, % - - - - 12.6 10.8 Financial net debt¹ Cash and cash equivalents and interest–bearing receivables -847 -680 -847 -680 -847 -680 Interest-bearing liabilities 6,082 4,778 6,082 4,778 6,082 4,778 Lease liabilities -247 -274 -247 -274 -247 -274 Financial net debt 4,987 3,825 4,987 3,825 4,987 3,825 Financial net debt/Adjusted EBITDA Financial net debt - - - - 4 987 3,825 Adjusted EBITDA, rolling 12-month - - - - 2,854 2,441 Financial net debt/Adjusted EBITDA - - - - 1.7 1.6 1 Closing balance at the end of the period.
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GRÄNGES AB (PUBL) INTERIM REPORT Q3, 202628 FINANCIAL & SUSTAINABILITY STATEMENTS …continued from previous page. Q3 Jan–Sep 12 months rolling 12 months rolling SEK million 2026 2025 2026 2025 Oct 2025– Sep 2026 Oct 2024– Sep 2025 Return on equity Equity, rolling 12-month average - - - - 10,877 10,179 Profit for the period - - - - 1,365 982 Return on equity, % - - - - 12.6 9.7 Operating cash flow Operating profit 546 398 1,571 1,242 1,943 1,518 Depreciation, amortization and impairment charges 219 207 645 643 854 892 Change in working capital -186 -118 -1,893 -552 -2,193 -1,727 Investments in property, plant, equipment and intangible assets -183 -170 -415 -549 -639 -948 Operating cash flow 396 317 -92 783 -35 -265 Cash conversion Operating cash flow 396 317 -92 783 -35 -265 Adjusted EBITDA 814 605 2,272 1,884 2,854 2,441 Cash conversion, % 49 52 -4 42 -1 -11
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GRÄNGES AB (PUBL) INTERIM REPORT Q3, 202629 REVIEW REPORT Gränges AB, corp. identity no. 556001-6122 Introduction We have reviewed the condensed interim report for Gränges AB as at September 30, 2026, and for the nine month period then ended. The Board of Directors and the Managing Director are responsible for the preparation and presentation of this interim report in accordance with IAS 34 and the Swedish Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on our review. Scope of review We conducted our review in accordance with the Interna- tional Standard on Review Engagements, ISRE 2410. Review of Interim Financial Information Performed by the Independent Auditor of the Entity. A review consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and other generally accepted auditing standards in Sweden. The procedures performed in a review do not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the interim report is not prepared, in all material respects, in accordance with IAS 34 and the Swedish Annual Accounts Act regarding the Group, and in accordance with the Swedish Annual Accounts Act regarding the Parent Company. Stockholm, October 22, 2026 Ernst & Young AB Andreas Troberg Authorized Public Accountant
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GRÄNGES AB (PUBL) INTERIM REPORT Q3, 202630 DEFINITIONS Adjusted EBITDA Adjusted operating profit before depreciation, amortization and impairment charges Adjusted operating profit Operating profit excluding items affecting comparability Adjusted operating profit per tonne Adjusted operating profit divided by sales volume Average number of employees The average number of employees converted to full-time positions Capital employed Total assets less cash and cash equivalents and interest-bearing receivables, minus non- interest-bearing liabilities, excluding pensions Greenhouse gas emission intensity Total emissions of greenhouse gases (GHG) (tonnes CO2e) divided by the total packed products (tonnes) Greenhouse gas emissions scope 1+2 Direct GHG emissions from Gränges’ operations and indirect emissions from purchased electricity, heat and steam consumed by Gränges Greenhouse gas emissions scope 3 GHG emissions from extraction, production and processing of main purchased materials, fuel and energy related activities (not included in scope 1 or scope 2), upstream and downstream goods transportation as well as business travel Cash conversion Operating cash flow divided by adjusted EBITDA Earnings per share Profit for the period divided by the total number of shares Financial net debt Cash and cash equivalents and interest -bearing receivables minus interest-bearing liabilities, excluding lease liabilities Financial net debt/Adjusted EBITDA Financial net debt divided by adjusted 12-month rolling EBITDA Items affecting comparability Non-recurring income and expenses ktonnes Volume expressed in thousands of metric tonnes Operating cash flow Operating profit plus Depreciation, amortization and impairment charges plus Change in working capital etc. minus Investments in property, plant, equipment and intangible assets Operating profit Profit before net financial items and tax Return on capital employed Adjusted operating profit divided by average capital employed during the past 12-month period Return on equity Profit for the period divided by average equity during the past 12-month period Sales volume Volumes sold in metric tonnes SEK Swedish Krona Share of sourced recycled aluminium Sourced recycled aluminium used as input materials (tonnes) divided by total sourced metal input materials (tonnes) Definitions Gränges is a global leader in aluminium rolling and recycling in selected niches. We’re committed to creating circular and sustainable aluminium solutions in partnership with our customers and suppliers – for a better future. Our solutions help customers grow and transition to climate neutrality. They are used for efficient thermal management in vehicles and buildings, electrification and battery components, recyclable packaging, and more.
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Head office Gränges AB (publ) Box 5505 SE-114 85 Stockholm Sweden Visiting address Linnégatan 18 114 47 Stockholm Sweden Tel: +46 8 459 59 00 www.granges.com Corp. identity no. 556001-6122 Contact Anna Hedenberg Investor Relations Director anna.hedenberg@granges.com, +46 768 69 96 48 Webcasted presentation CEO Jörgen Rosengren and CFO Oskar Hellström will present Gränges’ interim report Q3, 2026 at a webcasted conference call on Thursday October 22, 2026, at 10:00 CEST. Join live webcast: https:/ /edge.media-server.com/mmc/p/ev5jck4f Participate in Q&A: https:/ /register-conf.media-server.com/register/BI- 32f095a0f194499d81ff72a9d7f9ffce Calendar Year-end report 2026 January 28, 2027 Annual and Sustainability Report 2026 March 23, 2027 Interim report, Q1 April 22, 2027 Annual General Meeting May 5, 2027 Half-year report, Q2 July 15, 2027 Interim report, Q3 October 29, 2027 Important information This interim report may contain forward-looking statements which are based on the company’s best assessment at the time the report was written. As is the case with all assessments of the future, such assumptions are subject to both known and unknown risks and uncertainties, which may mean that the actual outcome differs from the anticipated result. This information is information that Gränges AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, on Thursday October 22, 2026, at 07:30 CEST.