Interim report
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ABOUT HEXPOL HEXPOL is a world-leading polymers group with strong global positions in advanced polymer compounds (Rubber Compounding and Thermoplastic Compounding), gaskets for plate heat exchangers (Gaskets and Seals), and wheels made of polymer materials for truck and castor wheel applications (Wheels). Customers are primarily system suppliers to the global automotive and engineering industry, building and construction industry and within sectors as transportation, energy, consumer and cable industry and manufacturers of medical equipment, plate heat exchangers and forklifts. The Group is organized in three business areas, HEXPOL Rubber Compounding, HEXPOL Thermoplastic Compounding and HEXPOL Engineered Products. The HEXPOL Group’s sales in 2025 amounted to 19 324 MSEK and the Group has approximately 5 000 employees in fourteen countries. Q3 2026 Interim report January – September 2026 Continued strong growth Henrik Elmin, President and CEO
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HEXPOL AKTIEBOLAG (PUBL) INTERIM REPORT JANUARY – SEPTEMBER 2026 1 │ 22 Interim report January – September 2026 July-September 2026 • Sales amounted to 5 300 MSEK (4 692). • EBIT amounted to 651 MSEK (688). • EBIT margin amounted to 12,3 percent (14,7). • EBIT, adjusted amounted to 723 MSEK (688). • EBIT margin, adjusted amounted to 13,6 percent (14,7). • Profit after tax, adjusted amounted to 502 MSEK (465). • Earnings per share, adjusted amounted to 1,46 SEK (1,35). • Operating cash flow amounted to 669 MSEK (740). January-September 2026 • Sales amounted to 15 348 MSEK (15 070). • EBIT amounted to 2 080 MSEK (2 283). • EBIT margin amounted to 13,6 percent (15,1). • EBIT, adjusted amounted to 2 196 MSEK (2 283). • EBIT margin, adjusted amounted to 14,3 percent (15,1). • Profit after tax, adjusted amounted to 1 561 MSEK (1 604). • Earnings per share, adjusted amounted to 4,53 SEK (4,66). • Operating cash flow amounted to 1 582 MSEK (1 762). Quarter 3 Financial ratios Key figures Jul-Sep Jul-Sep Jan-Sep Jan-Sep Full Year Oct 25-MSEK 2026 2025 2026 2025 2025 Sep 26Sales 5 300 4 692 15 348 15 070 19 324 19 602EBITA, adjusted 772 727 2 326 2 388 2 933 2 871EBITA-margin, adjusted, % 14,6 15,5 15,2 15,8 15,2 14,6EBITA 700 727 2 210 2 388 2 933 2 755EBITA-margin, % 13,2 15,5 14,4 15,8 15,2 14,1EBIT adjusted 723 688 2 196 2 283 2 791 2 704EBIT margin, adjusted, % 13,6 14,7 14,3 15,1 14,4 13,8EBIT 651 688 2 080 2 283 2 791 2 588EBIT-margin, % 12,3 14,7 13,6 15,1 14,4 13,2Profit before tax 616 647 2 000 2 166 2 653 2 487Profit after tax, adjusted 502 465 1 561 1 604 1 943 1 900Profit after tax 448 465 1 472 1 604 1 943 1 811Earnings per share, adjusted, SEK 1,46 1,35 4,53 4,66 5,64 5,51Earnings per share, SEK 1,30 1,35 4,27 4,66 5,64 5,25Equity/assets ratio, % - - 57 59 61 -Return on capital employed, % R12 - - 13,2 14,7 14,7 -Operating cash flow 669 740 1 582 1 762 2 799 2 619Net Debt/EBITDA - - -1,02-1,14-0,95- Sales change +13% EBIT margin, adjusted 13,6% Change EPS, adjusted +8% Operating cash flow 669MSEK Net debt/ EBITDA 1,02
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HEXPOL AKTIEBOLAG (PUBL) INTERIM REPORT JANUARY – SEPTEMBER 2026 2 │ 22 Comments from the CEO During my first quarter as President and CEO of HEXPOL it is very pleasing to see a double-digit organic growth of 12 percent, a continuation of the strong growth we delivered during the second quarter. Despite a continued uncertain environment, we have increased the volumes within most of our largest end customer segment and at the same time successfully adjusted the prices to compensate for increasing raw material prices. The margin was negatively affected during the quarter primarily due to higher overhead costs necessary to enable growth. Through the recent acquisitions of Vipa Group and Symplast A.Ş we are taking important steps in our growth ambition within the business area Thermoplastic Compounding. Not least, we are strengthening our position in the rapidly growing cable market. Growth in all business areas and regions The sales increased within all three business areas and in all geographical regions. We saw the largest volume increases in general industries, cable industry, automotive sector and consumer products. Given that the overall market has been relatively cautious, this means we have gained market shares. In an uncertain global environment with volatile raw material prices, we have simultaneously managed to compensate for increased material costs through price adjustments. Higher earnings with a focus on strengthening margins Adjusted EBIT increased by 5 percent to 723 MSEK (688), which means an adjusted EBIT - margin of 13,6 percent (14,7). Adjusted earnings per share increased at the same time with 8% to 1,46 SEK. With an operating cash flow of 669 MSEK and net debt to EBITDA of 1,02, we have a strong financial position. Going forward, the focus is on converting growth into higher margins. Acquisitions and investments for continued growth At the end of July we acquired Vipa Group, a leading European manufacturer of high- quality polymer compounds for the cable industry. The acquisition was completed and consolidated in Thermoplastic Compounding as of October 1. We have also on October 21 acquired Symplast A.Ş, a leading Turkish developer and manufacturer of specialized thermoplastic elastomer compounds. The acquisition is expected to close no later than during the first quarter of 2027. We also continue to invest in product development, for instance at our development center in Gorlago, Italy, for the business area Rubber Compounding. In addition, we are streamlining our production through the project Mixing 5.0, which aims for a significantly higher level of automation. Focus on implementation HEXPOL’s growth journey requires clarity and rapid implementation. Our strategy and our goals are well established in the organization, and the future direction of the product offering is clearly communicated to our customers. I would like to thank Peter Rosén for his efforts as acting CEO, and all our employees for their strong work during the quarter. I look forward to lead HEXPOL in the direction we have previously communicated. Henrik Elmin President and CEO
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HEXPOL AKTIEBOLAG (PUBL) INTERIM REPORT JANUARY – SEPTEMBER 2026 3 │ 22 Sales and results July - September 2026 Sales The Group sales amounted to 5 300 MSEK (4 692) during the third quarter of 2026, an increase of 13 percent compared with the corresponding period previous year. The sales were positively affected by double-digit organic sales development of 12 percent and by positive currency effects of 1 percent. The organic sales development was positively affected by increased volumes and an improved price- and mix development. Rubber Compounding showed sales of 3 337 MSEK (3 028) during the quarter. The higher sales of 10 percent are affected by a positive organic sales development of 9 percent and by positive currency effects of 1 percent. Thermoplastic Compounding delivered sales of 1 566 MSEK (1 311) in the period, an increase of 20 percent compared to the previous year. The organic sales development rose by 19 percent while currency effects were affecting positively by 1 percent. The sales for Engineered Products amounted to 397 MSEK (353) during the quarter. The higher sales of 12 percent were affected by positive organic sales development of 10 percent and positive currency effects of 2 percent. We saw increased volumes in most of the end customer segments with the largest increase in general industry, cable industry, automotive sector and consumer products during the third quarter. We also saw a positive price development driven by higher raw material prices. From a geographical perspective the sales increased in the North American market by 15 percent, including positive currency effects of approx. 1 percent. Europe showed sales that rose 10 percent, without any currency effects, while sales in Asia increased by 16 percent in the quarter, including positive currency effects of approx. 4 percent. Earnings EBIT amounted to 651 MSEK (688) with a corresponding margin of 12,3 percent (14,7), for the third quarter 2026. Adjusted EBIT amounted to 723 MSEK (688), an increase of 5 percent or 35 MSEK. Positive currency effects affected EBIT with 2 percent or 12 MSEK. The positive development is explained by the higher sales. The adjusted EBIT margin amounted to 13,6 percent (14,7) mainly affected by increased overhead costs. The non-recurring items of 72 MSEK are related to changes in the management team. Net financial income and expenses improved to -35 MSEK (-41), positively affected by lower interest expenses. Profit before tax amounted to 616 MSEK (647) while profit after tax, adjusted, amounted to 502 MSEK (465). Earnings per share, adjusted, amounted to 1,46 SEK (1,35) for the third quarter. Financial development Jul-Sep 2026 Jul-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 Full Year 2025 Oct 25-Sep 26Sales, MSEK5 300 4 692 15 348 15 070 19 324 19 602Organic development, %12 -4 5 -4 -4 -Acquisitions, % - 5 1 4 4 -Currency, %1 -6 -4 -4 -5 -EBIT, adjusted, MSEK723 688 2 196 2 283 2 791 2 704EBIT, MSEK651 688 2 080 2 283 2 791 2 588EBIT-margin, adjusted, %13,6 14,7 14,3 15,1 14,4 13,8EBIT-margin, %12,3 14,7 13,6 15,1 14,4 13,2EBIT-development, adjusted, %5 -14 -4 -13 -14 -7 Business area’s share of Group sales July-September 2026 Business area’s share of EBIT adjusted July-September 2026 63%30%7%Rubber CompoundingThermoplastic CompoundingEngineered Products67%22%11%Rubber CompoundingThermoplastic CompoundingEngineered Products
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HEXPOL AKTIEBOLAG (PUBL) INTERIM REPORT JANUARY – SEPTEMBER 2026 4 │ 22 Sales and results January - September 2026 Sales The Group sales amounted to 15 348 MSEK (15 070) during the period. The higher sales of 2 percent compared to the corresponding period last year were affected by positive organic sales development of 5 percent, while acquisition contributed positively with 1 percent. Currency effects affected negatively by 4 percent. The organic sales development was positively affected by increased volumes while price- and mix development had a negative impact. Rubber Compounding showed sales of 9 786 MSEK (9 891) during the period. The lower sales of 1 percent are affected by positive organic sales development of 3 percent and negative currency effects of 4 percent. Thermoplastic Compounding delivered sales of 4 417 MSEK (3 995) for the period, an increase of 10 percent compared to the previous year. The organic sales development rose by 11 percent and acquisition contributed positively with 3 percent. Negative currency effects affected by 4 percent. The sales for Engineered Products amounted to 1 145 MSEK (1 184) during the period. The lower sales of 3 percent were affected by a negative organic sales development of 1 percent and negative currency effects of 2 percent. During the period we note overall increased volumes in most end customer segments with the largest increase in cable industry, building and construction and general industry. The automotive sector also showed increased volumes. The sales value was negatively affected by the price- and mix development. From a geographical perspective the sales decreased in the North American market by 1 percent, while it increased organically by 5 percent in fixed currency rates. Europe showed increased sales of 6 percent, corresponding to 8 percent in fixed currency rates, while Asia shows lower sales of 2 percent without any currency effects. Earnings EBIT amounted to 2 080 MSEK (2 283) with a corresponding margin of 13,6 percent (15,1) during the period. Adjusted EBIT amounted to 2 196 MSEK (2 283), a decrease of 4 percent or 87 MSEK. Negative currency effects affected EBIT with 4 percent or 83 MSEK. The adjusted EBIT margin amounted to 14,3 percent (15,1). The non-recurring items of 116 MSEK are related to changes in the management team including the termination of the previous CEO. Net financial income and expenses improved to -80 MSEK (-117), positively affected by lower interest expenses. Profit before tax amounted to 2 000 MSEK (2 166) while profit after tax, adjusted amounted to 1 561 MSEK (1 604). Earnings per share, adjusted amounted to 4,53 SEK (4,66) for the period. Financial development Jul-Sep 2026 Jul-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 Full Year 2025 Oct 25-Sep 26Sales, MSEK5 300 4 692 15 348 15 070 19 324 19 602Organic development, %12 -4 5 -4 -4 -Acquisitions, % - 5 1 4 4 -Currency, %1 -6 -4 -4 -5 -EBIT, adjusted, MSEK723 688 2 196 2 283 2 791 2 704EBIT, MSEK651 688 2 080 2 283 2 791 2 588EBIT-margin, adjusted, %13,6 14,7 14,3 15,1 14,4 13,8EBIT-margin, %12,3 14,7 13,6 15,1 14,4 13,2EBIT-development, adjusted, %5 -14 -4 -13 -14 -7 Business area’s share of Group sales January-September 2026 Business area’s share of EBIT adjusted January-September 2026 64%29%7%Rubber CompoundingThermoplastic CompoundingEngineered Products69%21%10%Rubber CompoundingThermoplastic CompoundingEngineered Products
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HEXPOL AKTIEBOLAG (PUBL) INTERIM REPORT JANUARY – SEPTEMBER 2026 5 │ 22 Rubber Compounding The business area is one of the world’s leading suppliers in development and manufacturing of advanced polymer compounds of high quality for demanding applications and demanding end users. Customers are manufacturers of polymer products and components who impose rigorous demands on performance and global delivery capacity. The market is global and the largest end-customer segments are the automotive and engineering industries, followed by the building and construction sector. Other key segments are transportation sector, energy sector, consumer sector, cable industries and manufacturers of medical equipment. July – September 2026 Sales The business areas sales in the quarter amounted to 3 337 MSEK (3 028). The higher sales of 10 percent are affected by positive organic sales development of 9 percent and positive currency effects of 1 percent. Organic sales were positively affected by increased volumes for most of the end customer segments. Not least, we saw increases in cable industry, consumer products and general industry. The automotive sector showed unchanged volumes. We also note a positive price development driven by increased raw material prices. From a geographical perspective North America showed increased organic volumes while Europe had a negative volume development. The price- and mix effect improved sequentially during the quarter for both markets. Earnings EBIT for Rubber Compounding amounted to 411 MSEK (504), with a corresponding margin of 12,3 percent (16,6). Adjusted EBIT amounted to 483 MSEK (504), a decrease of 21 MSEK or 4 percent. Positive currency effects affected by 7 MSEK or 1 percent. The adjusted EBIT margin amounted to 14,5 percent (16,6) mainly affected by increased overhead costs. The non-recurring items of 72 MSEK are related to changes in the management team. January – September 2026 The sales for Rubber Compounding decreased during the period and amounted to 9 786 MSEK (9 891). EBIT for the period amounted to 1 401 MSEK (1 707) and the corresponding EBIT margin amounted to 14,3 percent (17,3). Adjusted EBIT amounted to 1 517 MSEK (1 707). The adjusted EBIT margin amounted to 15,5 percent (17,3). MSEK Jul-Sep 2026 Jul-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 Full Year 2025 Oct 25-Sep 26Sales 3 337 3 028 9 786 9 891 12 590 12 485Organic development, % 9 -7 3 -7 -6 -Acquisitions, % - - - - - -Currency, % 1 -6 -4 -4 -5 -EBIT, adjusted 483 504 1 517 1 707 2 077 1 887EBIT 411 504 1 401 1 707 2 077 1 771EBIT-margin, adjusted, % 14,5 16,6 15,5 17,3 16,5 15,1EBIT-margin, % 12,3 16,6 14,3 17,3 16,5 14,2EBIT-development, adjusted, % -4 -21 -11 -17 -19 -14 Share of the Group’s sales January-September 2026 Business area’s share of EBIT adjusted January-September 2026 64%Rubber CompoundingOther business area's69%Rubber CompoundingOther business area's
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HEXPOL AKTIEBOLAG (PUBL) INTERIM REPORT JANUARY – SEPTEMBER 2026 6 │ 22 Thermoplastic Compounding The business areas focus on the development, manufacturing and sales of customized thermoplastic compounds. The business offers a wide range of material solutions based on standard and high-performance polymer, including polyolefins, engineering plastics and specialty polymers. The business area serves a variety of industries such as automotive industry, building and construction, consumer products, cable industries, electrical and electronic applications and medical technology. July – September 2026 Sales Thermoplastic Compounding delivered sales of 1 566 MSEK (1 311) in the third quarter, an increase of 20 percent compared to the previous year. The organic sales increased by 19 percent while currency effects affected positively by 1 percent. The organic sales were positively affected by increased volumes to most end customer segments. Building and construction continued strong, but also general industry, cable industry and automotive sector showed increased volumes. Demand for consumer products remained unchanged during the quarter. The sales value was positively affected by price- and mix development in the quarter. Earnings EBIT for Thermoplastic Compounding amounted to 157 MSEK (120), corresponding to an increase of 37 MSEK or 31 percent. Positive currency effects affected by 1 MSEK or 1 percent. Other improvement is explained by the higher sales and a positive price– mix development. EBIT margin amounted to 10,0 percent (9,2). January – September 2026 Thermoplastic Compounding delivered sales of 4 417 MSEK (3 995) during the period, corresponding to an increase of 10 percent compared with the previous year. EBIT increased during the period and amounted to 461 MSEK (359) and the corresponding EBIT margin amounted to 10,4 percent (9,0). MSEK Jul-Sep 2026 Jul-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 Full Year 2025 Oct 25-Sep 26Sales 1 566 1 311 4 417 3 995 5 207 5 629Organic development, % 19 3 11 -1 -1 -Acquisitions, % - 21 3 17 16 -Currency, % 1 -6 -4 -4 -5 -EBIT 157 120 461 359 428 530EBIT-margin, % 10,0 9,2 10,4 9,0 8,2 9,4EBIT-development, % 3119 28 2124 Share of the Group’s sales January-September 2026 Business area’s share of EBIT January-September 2026 29%Thermoplastic CompoundingOther business area's21%Thermoplastic CompoundingOther business area's
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HEXPOL AKTIEBOLAG (PUBL) INTERIM REPORT JANUARY – SEPTEMBER 2026 7 │ 22 Engineered Products The business area has operations in a number of niche areas with strong global positions in gaskets for plate heat exchangers (Gaskets and Seals) and wheels of polymer materials for forklifts and material handling (Wheels). The market for gaskets and wheels is global. Gaskets customers include manufacturers of plate heat exchangers and wheel customers are manufacturers of forklifts and castor wheels. July – September 2026 Sales The sales for Engineered Products amounted to 397 MSEK (353) during the quarter, corresponding to an increase of 12 percent. The higher sales were affected by a positive organic sales development of 10 percent and positive currency effects of 2 percent. The organic sales developed positively mainly within the product area Wheels that rose doble-digit. All markets within Wheels developed positively. Other product areas also delivered increased sales. Earnings EBIT for Engineered Products amounted to 83 MSEK (64), corresponding to an increase of 19 MSEK or 30 percent. Positive currency effects affected by 4 MSEK or 7 percent. The higher result is a result of the strong sales in the quarter. EBIT margin amounted to 20,9 percent (18,1). January – September 2026 The sales for Engineered Products amounted to 1 145 MSEK (1 184) during the period. EBIT increased in the period and amounted to 218 MSEK (217) and the corresponding EBIT margin amounted to 19,0 percent (18,3). MSEK Jul-Sep 2026 Jul-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 Full Year 2025 Oct 25-Sep 26Sales 397 353 1 145 1 184 1 527 1 488Organic development, % 10 3 -1 9 6 -Acquisitions, % - - - - - -Currency, % 2 -6 -2 -4 -5 -EBIT 83 64 218 217 286 287EBIT-margin, % 20,9 18,1 19,0 18,3 18,7 19,3EBIT-development, % 30 -2 0 9 8 2 Share of the Group’s sales January-September 2026 Business area’s share of EBIT January-September 2026 7%Engineered ProductsOther business area's10%Engineered ProductsOther business area's
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HEXPOL AKTIEBOLAG (PUBL) INTERIM REPORT JANUARY – SEPTEMBER 2026 8 │ 22 Cash flow and balance sheet Cash flow The operating cash flow for the Group amounted to 669 MSEK (740) in the quarter. During the quarter, EBIT contributed with 651 MSEK (688) while depreciations amounted to 164 MSEK (144) whereof 24 MSEK (20) refers to leased assets according to IFRS 16. Investments amounted to 159 MSEK (106). Working capital developed positively by 13 MSEK (14). At the same time, cash flow from operating activities amounted to 522 MSEK (732) in the quarter. During the third quarter, 103 percent (108) of EBIT was converted to operational cash flow. Equity/assets ratio and net debt The equity/assets ratio remains strong at 57 percent (59). The Group’s total assets amounted to 26 734 MSEK (23 921). Net debt amounted to 3 263 MSEK (3 886) whereof 439 MSEK (411) relates to leasing liability according to IFRS 16 which gives a net debt/EBITDA of 1,02 (1,14). The Group had the following major credit agreements with Nordic banks as of September 30, 2026. • A credit agreement with a limit of 1 100 MSEK due in January 2027 • A credit agreement with a limit of 1 000 MSEK due in March 2028 • A credit agreement with a limit of 1 000 MSEK due in May 2028 • A credit agreement with a limit of 150 MEUR due in May 2028 • A credit agreement with a limit of 1 500 MSEK due in July 2029 The Group use commercial papers as part of the company’s financing and as of September 30, 2026, they amounted to 5 149 MSEK (4 082). In accordance with IAS1 outstanding volumes are reported in the balance sheet as current liabilities, but since HEXPOL’s bilateral credit agreements also function as back-up facilities for outstanding commercial papers, they are of a non-current nature. Profitability The return on average capital employed, R12, amounted to 13,2 percent (14,7). The return on shareholders’ equity, R12, amounted to 12,3 percent (13,3). Cash flow, Q3 2026 Net debt/EBITDA Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026Q3 20260,60,60,61,31,11,00,91,21,0Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026
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HEXPOL AKTIEBOLAG (PUBL) INTERIM REPORT JANUARY – SEPTEMBER 2026 9 │ 22 After the end of the period Significant events HEXPOL has completed the acquisition of 100 percent of Vipa Group October 1, 2026, a leading European developer and manufacturer of high-quality thermoplastic compounds with focus on Wire & Cable segment. Vipa Group has two production sites and a R&D center in Italy. In 2025 the company had a turnover of 76,4 MEUR and approximately 80 employees. The acquisition price amounts to 143,5 MEUR on a cash and debt-free basis and is funded by a combination of bank facilities and cash. The acquired Vipa Group are consolidated into business area Thermoplastic Compounding as of October 2026. On October 21, 2026, HEXPOL acquired 80 percent of Symplast A.Ş., a leading Turkish developer and manufacturer of specialized thermoplastic elastomer compounds. Symplast is headquartered in Izmir, Turkey. The company has sales of approximately 34 MEUR and 135 employees. The acquisition price amounts to 54 MEUR on a cash- and debt-free basis and is funded by a combination of bank facilities and cash. HEXPOL has an option to acquire the remaining shares, and the founders have an option to sell their remaining shares to HEXPOL. The acquisition is subject to customary closing conditions, including competition authority approval, and is expected to close no later than during the first quarter of 2027. On May 25, 2026, Henrik Elmin was appointed CEO and President of HEXPOL AB. He assumed the position on August 1st. On October 23, 2026, Henrik Elmin and the Board of Directors have agreed on his continuation as CEO and President, which gives HEXPOL the benefit of continuity in the leadership and in the implementation of the strategic direction. Other information Risk factors The Group’s and Parent Company’s business risks, risk management and management of financial risks are described in detail in the 2025 Annual Report. HEXPOL’s global operation entails a risk that the company is affected by events in the global environment, beyond the company’s direct control. Examples of this could be changed geopolitical situations or changes in the supply chain. HEXPOL monitor events in the global environment in order to be able to act quickly in situations that can have a significant impact on HEXPOL. Alternative Performance Measures (APMs) ESMA (European Securities and Markets Authority) guidelines on alternative performance measures are effective from 2016. HEXPOL presents financial definitions and reconciliations of alternative performance measures in this report. HEXPOL presents alternative performance measures as these provide valuable additional information to investors and the company’s management as they allow evaluation of the company’s performance. Personnel The number of employees at the end of the period was 4 987 (4 981). Non-recurring items During the quarter a non-recurring item of 72 MSEK has been recognized in relation to a mutual agreement concerning the change in group management that was announced on July 30. In the agreement reached, a multi-year non-compete clause and non-solicitation clause, which were absent in the existing employment contracts, have been agreed upon, which the Board has considered to be of significance for HEXPOL. Ownership structure HEXPOL AB (publ.) with Corporate Registration Number 556108–9631 is the Parent Company of the HEXPOL Group. HEXPOL’s class B shares are listed on Nasdaq Stockholm, Large Cap. HEXPOL AB had approximately 16 100 shareholders on September 30, 2026. The largest shareholder is Melker Schörling AB with 25 percent of the capital and 46
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HEXPOL AKTIEBOLAG (PUBL) INTERIM REPORT JANUARY – SEPTEMBER 2026 10 │ 22 percent of the voting rights. The Twenty largest shareholders own 74 percent of the capital and 81 percent of the voting rights. Invitation to presentation of the report A presentation of this report will be held through a webcasted conference call on October 23, 2026, at 01:00 p.m. CET. The presentation, as well as information concerning participation, is available at www.hexpol.com. Financial calendar HEXPOL AB publish financial information on the following dates: Financial information are also available in Swedish and English on HEXPOL AB’s website – www.hexpol.com. The interim report January-September 2026 has been subject to a general review by HEXPOL AB’s auditors. Malmö, Sweden October 23, 2026 HEXPOL AB (publ.) Henrik Elmin President and CEO For more information, please contact: Peter Rosén, Deputy CEO and CFO Tel: +46 (0)40 25 46 60 Address: Gibraltargatan 7 SE-211 18 Malmö, Sweden Corporate Registered Number: 556108–9631 Phone: +46 40-254660 Website: www.hexpol.com • Year-end report 2026 February 1, 2027 • Interim report January-March 2027 April 23, 2027 • Annual General Meeting 2027 April 23, 2027 • Half-year report 2027 July 20, 2027 • Interim report January-September 2027 October 29, 2027 This report may contain forward-looking statements. When used in this report, words such as ”anticipate”, ”believe”, ”estimate”, ”expect”, ”plan” and ”project” are intended to identify forward-looking statements. Such statements could encompass risks and uncertainties pertaining to product demand, market acceptance, effects of economic conditions, impact of competitive products and pricing, foreign currency exchange rates and other risks. These forward-looking statements reflect the views of HEXPOL’s management as of the date made with respect to future events but are subject to risks and uncertainties. While all of these forward-looking statements are based on estimates and assumptions made by HEXPOL’s management and are believed to be reasonable, they are inherently uncertain and difficult to predict. Actual results and experience could differ materially from the forward-looking statements. HEXPOL disclaims any intention or obligation to update these forward-looking statements. This information is information that HEXPOL AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Market Act. The information was submitted for publication, through the agency of the contact person set out above, at 11:00 a.m. CET on October 23, 2026. This report has been prepared both in Swedish and English. In case of any divergence in the content of the two versions, the Swedish version shall have precedence.
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HEXPOL AKTIEBOLAG (PUBL) INTERIM REPORT JANUARY – SEPTEMBER 2026 11 │ 22 THIS IS A TRANSLATION FROM THE SWEDISH ORIGINAL Review report HEXPOL AB (publ), corporate identity number 556108-9631 To the Board of Directors of HEXPOL AB (publ) Introduction We have reviewed the condensed interim report for HEXPOL AB (publ) as of September 30, 2026 and for the nine months period then ended, that is found on pages 12 to 19 in this document and includes balance sheet, income statement, statement of changes in shareholders’ equity, cash-flow statement, notes to the financial report and other information for the interim period according to the Swedish Annual Accounts act on page 16. 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 International Standard on Review Engagements, ISRE 2410 Review of Interim Financial Statements 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 aspects, 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. Malmö, October 23, 2026 Peter Gunnarsson Karoline Tedevall Authorized Public Accountant Authorized Public Accountant
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HEXPOL AKTIEBOLAG (PUBL) INTERIM REPORT JANUARY – SEPTEMBER 2026 12 │ 22 Summary financial information Condensed consolidated income statement Condensed statement of comprehensive income Jul-Sep Jul-Sep Jan-Sep Jan-Sep Full Year Oct 25-MSEK 2026 2025 2026 2025 2025 Sep 26Sales 5 300 4 692 15 348 15 070 19 324 19 602Cost of goods sold -4 201 -3 705 -12 072 -11 839 -15 260 -15 493Gross profit 1 099 987 3 276 3 231 4 064 4 109Selling and administrative cost, etc. -448 -299 -1 196 -948 -1 273 -1 521Operating profit 651 688 2 080 2 283 2 791 2 588Financial income and expenses -35 -41 -80 -117 -138 -101Profit before tax 616 647 2 000 2 166 2 653 2 487Tax -168 -182 -528 -562 -710 -676Profit after tax 448 465 1 472 1 604 1 943 1 811- of which, attributable to Parent Company shareholders 448 465 1 472 1 604 1 943 1 811Earnings per share, SEK 1,30 1,35 4,27 4,66 5,64 5,25Shareholders' equity per share, SEK 44,53 40,90 40,71Average number of shares, 000s 344 437 344 437 344 437 344 437 344 437 344 437Depreciation, amortisation and impairment -164 -144 -464 -427 -573 -610Jul-Sep Jul-Sep Jan-Sep Jan-Sep Full Year Oct 25-MSEK 2026 2025 2026 2025 2025 Sep 26Profit after tax 448 465 1 472 1 604 1 943 1 811Items that will not be reclassified to the income statementRemeasurements of defined benefit pension plans - - - - 1 1 Items that may be reclassified to the income statementTranslation differences 499 -175 1 318 -2 011 -2 419 910Comprehensive income 947 290 2 790 -407 -475 2 722- of which, attributable to Parent Company's shareholders 947 290 2 790 -407 -475 2 722
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HEXPOL AKTIEBOLAG (PUBL) INTERIM REPORT JANUARY – SEPTEMBER 2026 13 │ 22 Condensed consolidated balance sheet Condensed consolidated changes in shareholders’ equity Changes in number of shares Sep 30 Sep 30 Dec 31 MSEK 2026 2025 2025 Intangible fixed assets 13 929 13 370 13 038 Tangible fixed assets 3 907 3 617 3 630 Financial fixed assets 5 5 5 Deferred tax asset 100 139 106 Total fixed assets 17 941 17 131 16 779 Inventories 2 467 2 098 1 857 Accounts receivable 3 472 2 884 2 421 Other receivables 386 487 665 Prepaid expenses and accrued income 148 113 94 Cash and cash equivalents 2 320 1 208 1 145 Total current assets 8 793 6 790 6 182 Total assets 26 734 23 921 22 961 Equity attributable to Parent Company's shareholders 15 338 14 089 14 021 Total shareholders' equity 15 338 14 089 14 021 Interest-bearing liabilities 342 902 338 Other liabilities 409 399 421 Provision for deferred tax 1 124 903 985 Provision for pensions 60 61 60 Total non-current liabilities 1 935 2 265 1 804 Interest-bearing liabilities 5 246 4 197 3 996 Accounts payable 2 787 2 259 2 237 Other liabilities 372 327 253 Accrued expenses, prepaid income, provisions 1 056 784 650 Total current liabilities 9 461 7 567 7 136 Total shareholders' equity and liabilities 26 734 23 921 22 961 MSEKAttributable to Parent Company shareholders Total equityAttributable to Parent Company shareholders Total equityAttributable to Parent Company shareholders Total equityOpening equity 14 021 14 021 15 945 15 945 15 945 15 945Comprehensive income 2 790 2 790 -407 -407 -475 -475Dividend -1 473 -1 473 -1 449 -1 449 -1 449 -1 449 Closing equity 15 338 15 338 14 089 14 089 14 021 14 021Sep 30, 2026Sep 30, 2025 Dec 31, 2025Total number of Class A sharesTotal number of Class B sharesTotal number of sharesNumber of shares at January 1 14 765 620 329 671 226 344 436 846Number of shares at the end of the period 14 765 620 329 671 226 344 436 846
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HEXPOL AKTIEBOLAG (PUBL) INTERIM REPORT JANUARY – SEPTEMBER 2026 14 │ 22 Condensed consolidated cash-flow statement Operating cash flow, Group Condensed income statement, Parent Company Jul-Sep Jul-Sep Jan-Sep Jan-Sep Full Year Oct 25-MSEK 2026 2025 2026 2025 2025 Sep 26Cash flow from operating activities before changes in working capital509 718 2 228 1 956 2 339 2 611Changes in working capital 13 14 -564 -569 -21 -16Cash flow from operating activities 522 732 1 664 1 387 2 318 2 595 Acquisitions - - - -970 -967 3Cash flow from other investing activities -159 -106 -398 -389 -554 -563Cash flow from investing activities -159 -106 -398 -1 359 -1 521 -560Dividend -21 - -1 473 -1 449 -1 449 -1 473Cash flow from other financing activities 211 -499 1 254 1 625 861 490Cash flow from financing activities 190 -499 -219 176 -588 -983Change in cash and cash equivalents 553 127 1 047 204 209 1 052Cash and cash equivalents at January 1 1 615 1 119 1 145 1 233 1 233 1 208Exchange-rate differences in cash and cash equivalents 152 -38 128 -229 -297 60Cash and cash equivalents at the end of the period 2 320 1 208 2 320 1 208 1 145 2 320Jul-Sep Jul-Sep Jan-Sep Jan-Sep Full Year Oct 25-MSEK 2026 2025 2026 2025 2025 Sep 26Operating profit 651 688 2 080 2 283 2 791 2 588Other non cash adjustment - - - 10 10 - Depreciation/amortisation/impairment 164 144 464 427 573 610Change in working capital 13 14 -564 -569 -21 -16Sale of fixed assets 0 0 0 0 0 0Investments -159 -106 -398 -389 -554 -563Operating Cash flow 669 740 1 582 1 762 2 799 2 619Jul-Sep Jul-Sep Jan-Sep Jan-Sep Full Year Oct 25-MSEK 2026 2025 2026 2025 2025 Sep 26Sales24 24 71 73 99 97Administrative costs, etc. -48 -46 -187 -138 -147 -196Operating loss -24 -22 -116 -65 -48 -99Financial income and expenses*38 71 72 152 1 787 1 707Profit after financial items 14 49 -44 87 1 739 1 608Profit before tax 14 49 -44 87 1 739 1 608Tax16 -1 41 16 -47 -22Profit after tax 30 48 -3 103 1 692 1 586Comprehensive income corresponds to profit after tax
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HEXPOL AKTIEBOLAG (PUBL) INTERIM REPORT JANUARY – SEPTEMBER 2026 15 │ 22 Condensed balance sheet, Parent Company Sep 30 Sep 30 Dec 31MSEK 2026 2025 2025Fixed assets 12 565 13 687 13 613Current assets 1 666 443 635Total assets 14 231 14 130 14 248Restricted shareholders' equityShare capital 69 69 69Total restricted shareholders' equity 69 69 69Non-restricted shareholders' equityShare premiun reserve 619 619 619Accumulated earnings 3 353 3 108 3 108Profit after tax -3 103 1 692Total non-restricted shareholders' equity 3 969 3 830 5 419Total shareholders' equity 4 038 3 899 5 488Non-current liabilities 1 601 3 240 2 587Current liabilities 8 592 6 991 6 173Total shareholders' equity and liabilities 14 231 14 130 14 248
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HEXPOL AKTIEBOLAG (PUBL) INTERIM REPORT JANUARY – SEPTEMBER 2026 16 │ 22 Notes to the financial reports Note 1 Accounting policies This interim report has been prepared in accordance with IAS 34, Interim financial reporting. The Parent Company’s financial statements have been prepared in compliance with the Annual Accounts Act and the Swedish Counsil for Sustainability and the Financial Reporting Board’s recommendation RFR 2, Reporting for Legal Entities. The accounting and measurements policies as well as the assessment bases applied in the 2025 Annual Report have also been applied in this interim report. No new or revised IFRS that came into force in 2026 have had any significant impact on the Group’s financial reports. HEXPOL has started the implementation of IFRS 18 and is currently analyzing the effects on the group's financial reporting. Based on the work carried out so far, the changes are mainly expected to affect the structure of the income statement and the related disclosures. The work includes, among other things, the classification of revenues and expenses between the categories operating, investing, and financing, as well as an analysis of the group's alternative key figures to identify any management-defined performance measures. The analysis and preparations for implementation will continue throughout 2026. At the Annual General Meeting of HEXPOL AB on 4 May 2026, it was resolved to implement a long-term incentive program (LTIP 2026–2029) for members of Group Management and certain key employees within the HEXPOL Group, covering a maximum of 80 participants. The program is an equity-settled program where participants are granted share rights (Performance Shares) that entail a conditional right to receive Class B shares in HEXPOL AB free of charge at a future date following a three-year vesting period, provided that applicable performance targets and conditions during the vesting period are met. The vesting period runs from the grant date on 1 June 2026 until June 2029. The conditional right to receive Performance Shares requires that the participant is employed within the Group and has not given or been given notice of termination of employment as of the settlement date. The grant of Performance Shares is linked to a performance requirement established by the Board of Directors, which is based on earnings per share (EPS) for the 2026 financial year. The performance target defines a minimum level that must be achieved for Performance Shares to be allocated, as well as a maximum level corresponding to maximum allocation. If the performance outcome falls below the maximum level but exceeds the minimum level, a proportional allocation of Performance Shares between 0 and 100 percent will occur. If all conditions established in the incentive program are fulfilled, the transfer of Performance Shares takes place free of charge after the end of the vesting period in June 2029. The transfer may be subject to income tax and social security contributions, which are handled in accordance with applicable legislation in each respective country. The value at the time of grant consists of a maximum monetary value based on the participants' base salary. Participants are not compensated for dividends distributed during the vesting period. Participants are divided into three categories, where the maximum value for the CEO and Group Management (7 people) as well as Key Employees 1 (11 people) amounts to 55 percent of the participant's annual base salary, and the maximum value for Key Employees 2 (62 people) amounts to 15 percent of the participant's annual base salary. Annual base salary is calculated as the fixed monthly salary for March 2026 multiplied by 12. The allocation of share rights on 1 June 2026 was calculated by dividing the grant value by the volume- weighted average price of HEXPOL AB’s Class B share on Nasdaq Stockholm during the first 20 trading days of March 2026. The fair value of the program is determined on the grant date and is not updated during the vesting period. Personnel costs are recognized for the value of services received, accrued over the program's vesting period, and are based on the fair value established on the grant date. As the program is an equity-settled program, an amount corresponding to the recognized personnel cost is recognized directly in equity. The recognized cost is initially based on, and continuously adjusted for, the proportion expected to vest; account is taken of the number of program participants expected to remain employed during the vesting period and the actual fulfillment of the program's performance targets. When the share rights vest and shares are allocated, social security contributions must be paid in certain countries for the value of the employee's benefit. A cost and liability are recognized and accrued over the vesting period based on the proportion expected to vest. The cost for social security contributions is based on the fair value of the program at each reporting date and ultimately upon the delivery of shares.
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HEXPOL AKTIEBOLAG (PUBL) INTERIM REPORT JANUARY – SEPTEMBER 2026 17 │ 22 Note 2 Financial instrument per category and measurement level Sep 30, 2026MSEKAmortized costs Fair value through profit or lossMeasurem. level TotalAssets in the balance sheetNon-current financial assets 5 - 5Accounts receivable 3 472 - 3 472Cash and cash equivalents 2 320 - 2 320Total 5 797 - 5 797Liabilities in the balance sheetInterest-bearing non-current liabilities - - - Interest-bearing non-current lease liabilities 342 - 342Liabilities to minority shareholders*372 3 372Interest-bearing current liabilities 5 149 - 5 149Interest-bearing current lease liabilities 97 - 97Accounts payable 2 787 - 2 787Other liabilities 372 - 372Accrued expenses, prepaid income, provisions 1 056 - 1 056Total 9 803 372 10 175Sep 30, 2025MSEKAmortized costs Fair value through profit or lossMeasurem. level TotalAssets in the balance sheetNon-current financial assets 5 - 5Accounts receivable 2 884 - 2 884Cash and cash equivalents 1 208 - 1 208Total 4 097 - 4 097Liabilities in the balance sheetInterest-bearing non-current liabilities 580 - 580Interest-bearing non-current lease liabilities 322 - 322Liabilities to minority shareholders*362 3 362Interest-bearing current liabilities 4 108-4 108Interest-bearing current lease liabilities 89-89Accounts payable 2 259-2 259Other liabilities 327 - 327Accrued expenses, prepaid income, provisions 784 - 784Total 8 469 362 8 831*Liabilities to minority shareholders are recogniced as other non-current liabilities. Financial assets/liabilities measured at: Financial assets/liabilities measured at:
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HEXPOL AKTIEBOLAG (PUBL) INTERIM REPORT JANUARY – SEPTEMBER 2026 18 │ 22 Note 3 Segment reporting and distribution of revenues Sales per business area Sales per geographic region Sales per geographic region HEXPOL Rubber Compounding Sales per geographic region HEXPOL Thermoplastic Compounding Sales per geographic region HEXPOL Engineered Products EBIT per business area EBIT margin per business area Starting from the first quarter of 2026, HEXPOL reports three business areas, compared to two previously. HEXPOL Thermoplastic Compounding is reported as a separate business area, alongside HEXPOL Rubber Compounding and HEXPOL Engineered Products. In connection with the acquisition of Vipa Group, HEXPOL subsidiaries HEXPOL Izmir and HEXPOL Vilafranca are as of July 1, part of the business area Thermoplastic Compounding instead of as earlier Rubber Compounding as we now have a greater critical mass in our offering to the Wire & Cable industry. Historical data has been restated. Full Oct 25- FullMSEK Q1 Q2 Q3 Q1 Q2 Q3 Q4 Year Sep 26 Q1 Q2 Q3 Q4 YearHEXPOL Rubber Compounding 3 086 3 363 3 337 3 602 3 261 3 028 2 699 12 590 12 485 3 778 3 802 3 498 3 149 14 227HEXPOL Thermoplastic Compounding 1 320 1 531 1 566 1 350 1 334 1 311 1 212 5 207 5 629 1 161 1 260 1 114 1 159 4 694HEXPOL Engineered Products 362 386 397 429 402 353 343 1 527 1 488 373 392 365 386 1 516Group total 4 768 5 280 5 300 5 381 4 997 4 692 4 254 19 324 19 602 5 312 5 454 4 977 4 694 20 437202620242025Full Oct 25-FullMSEK Q1 Q2 Q3 Q1 Q2 Q3 Q4 Year Sep 26 Q1 Q2 Q3 Q4 YearEurope 2 129 2 316 2 122 2 135 2 111 1 921 1 886 8 053 8 453 2 133 2 117 1 924 1 925 8 099Americas 2 369 2 651 2 821 2 905 2 572 2 463 2 070 10 010 9 911 2 882 3 009 2 725 2 473 11 089Asia 270 313 357 341 314 308 298 1 261 1 238 297 328 328 296 1 249Group total 4 768 5 280 5 300 5 381 4 997 4 692 4 254 19 324 19 602 5 312 5 454 4 977 4 694 20 437202620242025Full Oct 25-FullMSEK Q1 Q2 Q3 Q1 Q2 Q3 Q4 Year Sep 26 Q1 Q2 Q3 Q4 YearEurope 1 217 1 277 1 141 1 303 1 245 1 067 1 041 4 656 4 676 1 326 1 273 1 144 1 148 4 891Americas 1 753 1 951 2 045 2 141 1 880 1 808 1 519 7 348 7 268 2 299 2 363 2 176 1 865 8 703Asia 116 135 151 158 136 153 139 586 541 153 166 178 136 633Group total 3 086 3 363 3 337 3 602 3 261 3 028 2 699 12 590 12 485 3 778 3 802 3 498 3 149 14 227202620242025Full Oct 25-FullMSEK Q1 Q2 Q3 Q1 Q2 Q3 Q4 Year Sep 26 Q1 Q2 Q3 Q4 YearEurope 754 867 835 647 687 699 685 2 718 3 141 651 678 619 612 2 560Americas 513 598 665 639 584 558 460 2 241 2 236 456 525 438 490 1 909Asia 53 66 66 64 63 54 67 248 252 54 57 57 57 225Group total 1 320 1 531 1 566 1 350 1 334 1 311 1 212 5 207 5 629 1 161 1 260 1 114 1 159 4 694202620242025Full Oct 25-FullMSEK Q1 Q2 Q3 Q1 Q2 Q3 Q4 Year Sep 26 Q1 Q2 Q3 Q4 YearEurope 158 172 146 185 179 155 160 679 636 156 166 161 165 648Americas 103 102 111 125 108 97 91 421 407 127 121 111 118 477Asia 101 112 140 119 115 101 92 427 445 90 105 93 103 391Group total 362 386 397 429 402 353 343 1 527 1 488 373 392 365 386 1 516202620242025Full Oct 25-FullMSEK Q1 Q2* Q3* Q1 Q2 Q3 Q4 Year Sep 26 Q1 Q2 Q3 Q4* Year*HEXPOL Rubber Compounding 499 535 483 630 573 504 370 2 077 1 887 722 707 634 496 2 559HEXPOL Thermoplastic Compounding 138 166 157 131 108 120 69 428 530 115 137 101 70 423HEXPOL Engineered Products 64 71 83 78 75 64 69 286 287 68 67 65 65 265Group total 701 772 723 839 756 688 508 2 791 2 704 905 911 800 631 3 247202620242025Full Oct 25- Full% Q1 Q2* Q3*Q1 Q2 Q3 Q4 Year Sep 26 Q1 Q2 Q3 Q4* Year*HEXPOL Rubber Compounding 16,2 15,9 14,5 17,5 17,6 16,6 13,7 16,5 15,1 19,1 18,6 18,1 15,8 18,0HEXPOL Thermoplastic Compounding 10,5 10,8 10,0 9,7 8,1 9,2 5,7 8,2 9,4 9,9 10,9 9,1 6,0 9,0HEXPOL Engineered Products 17,7 18,4 20,9 18,2 18,7 18,1 20,1 18,7 19,3 18,2 17,1 17,8 16,8 17,5Group total 14,7 14,6 13,6 15,6 15,1 14,7 12,0 14,4 13,8 17,0 16,7 16,1 13,4 15,9*Adjusted EBIT for HEXPOL Rubber Compounding202620242025
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HEXPOL AKTIEBOLAG (PUBL) INTERIM REPORT JANUARY – SEPTEMBER 2026 19 │ 22 Note 4 Non-recurring items in the income statement The administrative costs are attributable to changes in the management team including the termination of the previous CEO. Note 5 Acquisitions Acquisitions within Compounding during 2025 HEXPOL signed an agreement on 18 February 2025 to acquire 80 percent of the shares in Kabkom Kimya Sanayi vs Ticaret Anonim Sirketi (Kabkom). Kabkom was founded in 2011 and has grown to become the largest independent cable compounder in Turkey. The company specializes in high-performance thermoplastic and thermoset cable compounds for the fast growing cable market. Kabkom operates a brand new state of the art manufacturing facility outside Izmir, Turkey with approximately 70 employees and plenty of open capacity. The company has a turnover of some 30 MEUR and a profitability above the HEXPOL Group. The acquisition price amounts to 54 MEUR on a cash and debt free basis and is funded by a combination of bank facilities and cash. According to the agreement HEXPOL has an option to acquire the remaining shares (from 2028 and annually thereafter during the period March1 to March 31), and the founders have an option to sell their remaining shares to HEXPOL (from 2028 and annually thereafter during the period March 1 to March 31). Kabkom has been consolidated from April 1, 2025. Since December 31, 2025, valuation of acquired assets at fair value has been performed. The changes that have occurred compared to December 31, 2025, amounts to: technology and customer relationships have increased by 248 MSEK, deferred tax have increased by 62 MSEK, liability to minority shareholders have decreased by 6 MSEK and goodwill has thus decreased by 180 MSEK. Sales amounted to 19,0 MEUR and profit after tax was 1,0 MEUR during the period April to December 2025. For the full year 2025, sales were 30,2 MEUR and profit after tax was 1,7 MEUR. Below are details of net assets acquired and goodwill for the above acquisition: Goodwill is attributable to the strategic importance of the acquisition in terms of the increased breadth it adds to the HEXPOL Group’s existing product offering. With this acquisition we broaden the capabilities of the HEXPOL Group in the fast growing wire and cable market and underscore our dedication to expanding our footprint in key global markets and leveraging synergies to drive innovation and growth. The following assets and liabilities were included in the acquisition: Transaction costs for the above acquisition amounted to 4 MSEK and have been reported in the operating profit under administrative expenses. Jul-Sep Jul-Sep Jan-Sep Jan-Sep Full YearMSEK 2026 2025 2026 2025 2025Costs of goods sold - - - - - Administration costs 72 - 116 - - Other operating expense - - - - - Profit before tax 72 - 116 - - Tax -18 - -27 - - Profit afer tax 54 - 89 - - MSEKPurchase considerations 748Fair value of acquired net assets 366Goodwill 382MSEKBalance sheet at the time of acquisitionAdjusted balance sheetAdjust-ment to fair value Fair valueCash and cash equivalents 36 - - 36Accounts receivable 42 12 - 54Current assets 76 2 - 78Tangible assets 123 25 - 148Intangible assets 2 1 248 251Deferred tax assets 35 -35 - - Non-current liabilities -8 -9 - -17Deferred tax liabilities - -7 -62 -69Accounts payable -41 -6 - -47Current liabilities -88 20 - -68Acquired net assets 177 3 186 366Purchase considerations 748Liabilities to minority shareholders -145Cash and cash equivalents in acquired operations 36Change in Group's cash and cash equivalents567
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HEXPOL AKTIEBOLAG (PUBL) INTERIM REPORT JANUARY – SEPTEMBER 2026 20 │ 22 Reconciliation alternative performance measures Sales Sales growth EBITA, adjusted, % EBITA, % Capital employed MSEK Q1 Q2 Q3 Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 YearSales 4 768 5 280 5 300 5 381 4 997 4 692 4 254 19 324 5 312 5 454 4 977 4 694 20 437Currency effects -526 -129 55 64 -367 -312 -436 -1 051 -5 53 -172 29 -95Sales excluding currency effects 5 294 5 409 5 245 5 317 5 364 5 004 4 690 20 375 5 317 5 401 5 149 4 665 20 532Acquisitions 91 30 - 170 212 231 126 739 36 39 31 102 208Sales excluding currency effects and acquisitions5 203 5 379 5 245 5 147 5 152 4 773 4 564 19 636 5 281 5 362 5 118 4 563 20 324202420252026Jul-Sep Jul-Sep Jan-Sep Jan-Sep Full Year% 2026 2025 2026 2025 2025Sales growth excluding currency effects12 1 6 0 0Sales growth excluding currency effects and acquisitions12 -4 5 -4 -4Jul-Sep Jul-Sep Jan-Sep Jan-Sep Full Year Oct 25-MSEK 2026 2025 2026 2025 2025 Sep 26Sales 5 300 4 692 15 348 15 070 19 324 19 602Operating profit 651 688 2 080 2 283 2 791 2 588Non-recurring items 72 - 116 - - 116 49 39 130 105 142 167Total EBITA, adjusted 772 727 2 326 2 388 2 933 2 871EBITA, adjusted, % 14,6 15,5 15,2 15,8 15,2 14,6Amortisation and impairment of intangible assets Jul-Sep Jul-Sep Jan-Sep Jan-Sep Full Year Oct 25-MSEK 2026 2025 2026 2025 2025 Sep 26Sales 5 300 4 692 15 348 15 070 19 324 19 602Operating profit 651 688 2 080 2 283 2 791 2 58849 39 130 105 142 167Total EBITA 700 727 2 210 2 388 2 933 2 755EBITA% 13,2 15,5 14,4 15,8 15,2 14,1Amortisation and impairment of intangible assets MSEK Mar 31 Jun 30 Sep 30 Mar 31 Jun 30 30 sep Dec 31 Mar 31 Jun 30 Sep 30 Dec 31Total assets 24 739 25 519 26 734 24 120 24 342 23 921 22 961 24 340 23 789 22 664 24 884Provision for deferred tax -1 018 -1 104 -1 124 -898 -919 -903 -985 -878 -855 -829 -966Accounts payable -2 529 -2 960 -2 787 -2 640 -2 456 -2 259 -2 237 -2 967 -2 936 -2 433 -2 557Other liabilities -243 -302 -372 -655 -293 -327 -253 -309 -300 -291 -697Accrued expenses, prepaid income, provisions-692 -895 -1 056 -791 -810 -784 -650 -604 -714 -799 -874Total Group 20 257 20 258 21 395 19 136 19 864 19 648 18 836 19 582 18 984 18 312 19 790202420252026
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HEXPOL AKTIEBOLAG (PUBL) INTERIM REPORT JANUARY – SEPTEMBER 2026 21 │ 22 Return on capital employed, R12 Interest-coverage ratio, multiple Shareholders’ equity Return on equity, R12 Net debt Net debt/EBITDA Equity/assets ratio Sep 30 Sep 30 Full YearMSEK 2026 2025 2025Average capital employed 20 187 19 610 19 371Profit before tax 2 487 2 680 2 653Interest expense 182 206 200Total 2 669 2 886 2 853Return on capital employed, % 13,2 14,7 14,7Jan-Sep Jan-Sep Full Year Oct 25-MSEK 2026 2025 2025 Sep 26Profit before tax 2 000 2 166 2 653 2 487Interest expense 134 152 200 182Total 2 134 2 318 2 853 2 669Interest-coverage ratio, multiple 16 15 14 15MSEK Mar 31 Jun 30 Sep 30 Mar 31 Jun 30 Sep 30 Dec 31 Mar 31 Jun 30 Sep 30 Dec 31Shareholders' equity 14 966 14 417 15 338 15 057 13 801 14 089 14 021 16 142 14 558 14 536 15 945202420252026Sep 30 Sep 30 Full YearMSEK 2026 2025 2025Average shareholders' equity 14 686 14 723 14 242Profit after tax 1 811 1 957 1 943Return on equity, % 12,3 13,3 13,6Sep 30 Sep 30 Full YearMSEK 2026 2025 2025Financial assets 5 5 5Cash and cash equivalents 2 320 1 208 1 145Non-current interest-bearing liabilities -342 -902 -338Current interest-bearing liabilities -5 246 -4 197 -3 996Net debt -3 263 -3 886 -3 184Sep 30 Sep 30 Full YearMSEK 2026 2025 2025Net debt -3 263 -3 886 -3 184EBITDA, R12 3 198 3 416 3 364Net debt/EBITDA, multiple -1,02 -1,14 -0,95Sep 30 Sep 30 Full YearMSEK 2026 2025 2025Shareholders' equity 15 338 14 089 14 021Total assets 26 734 23 921 22 961Equity/assets ratio, % 57 59 61
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HEXPOL AKTIEBOLAG (PUBL) INTERIM REPORT JANUARY – SEPTEMBER 2026 22 │ 22 Financial definitions Average capital employed Average of the last four quarters capital employed. Average shareholders’ equity Average of the last four quarters shareholders’ equity. Capital employed Total assets less deferred tax liabilities, accounts payable, other liabilities and accrued expenses, prepaid income and provisions. Cash flow Cash flow from operating activities. Cash flow per share Cash flow from operating activities in relation to the average number of shares outstanding. Cash flow per share before changes in working capital Cash flow from operating activities before changes in working capital in relation to the average number of shares outstanding. Earnings per share Profit after tax, in relation to the average number of shares outstanding. Earnings per share, adjusted Profit after tax excluding non-recurring items, in relation to the average number of shares outstanding. EBIT Operating profit. EBITA Operating profit, excluding amortization and impairment of intangible assets. EBITA margin, % Operating profit, excluding amortization and impairment of intangible assets in relation to sales. EBITA, adjusted Operating profit, excluding non-recurring items and amortization and impairment of intangible assets. EBITA margin, adjusted, % Operating profit excluding non-recurring items and amortization and impairment of intangible assets in relation to sales. EBITDA Operating profit excluding depreciation, amortization and impairment of tangible and intangible assets. Equity/assets ratio Shareholders’ equity in relation to total assets. Interest-coverage ratio Profit before tax plus interest expenses in relation to interest expenses. Net debt/EBITDA Non-current and current interest-bearing liabilities, less cash and cash equivalents in relation to operating profit excluding depreciations, amortization and impairment of tangible and intangible assets. Net debt, net cash Non-current and current interest-bearing liabilities less cash and cash equivalents. Non-recurring items Refers to integration- and restructuring costs and other material non-recurring items. Operating cash flow Operating profit excluding depreciation, amortization and impairment of tangible and intangible assets, less investments, plus sales of tangible and intangible assets, and after changes in working capital. Operating margin, % Operating profit in relation to the sales. Operating margin, adjusted, % Operating profit excluding non-recurring items, in relation to the sales. Other investing activities Investments and sales of intangible and tangible assets. Operating profit, adjusted Operating profit excluding non-recurring items. Profit margin before tax Profit before tax in relation to the sales. Return on capital employed, R12 Twelve months profit before tax plus twelve months interest expenses in relation to average capital employed. Return on equity, R12 Twelve months profit after tax in relation to average shareholders’ equity. R12 Rolling twelve months average. Sales growth excluding currency effects Sales excluding currency effects compared to the sales for the corresponding year-earlier period. Sales growth excluding currency effects and acquisitions Sales excluding currency effects and acquisitions compared to the sales for the corresponding year earlier period. Sharheholders’ equity per share Shareholders’ equity in relation to the number of shares outstanding at the end of the period.