Interim report
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Q3 Interim report 2026
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2 Interim report Q3 2026 July 1 – September 30, 2026 Delivering on the plan with increasing margins and record sales • Net sales of SEK 2,498 million (1,883), an increase of 33 percent, of which organic growth of 17 percent. • Adjusted EBITA of SEK 281 million (146), an increase of 93 percent.1 • Adjusted EBITA margin of 11.3 percent (7.7), higher sequentially and compared to previous year.1 • Fiber Solutions reported net sales of SEK 1,414 million (1,236), an organic growth of 13 percent driven by strong performance in the US market. Adjusted EBITA grew 102 percent to SEK 133 million (66) driven primarily by higher net sales and the performance improvement program which now has full effect. Adjusted EBITA margin increased to 9.4 percent (5.4). • Harsh Environment reported net sales of SEK 393 million (314), an organic growth of 6 percent driven by connectivity solutions. Adjusted EBITA grew 24 percent to SEK 43 million (35) driven by the acquisition of JOWO Systemtechnik. Adjusted EBITA margin of 11.0 percent (11.1). • Data Center reported net sales of SEK 692 million (334), an organic growth of 44 percent driven by strong performance in the US market. Adjusted EBITA grew 108 percent to SEK 117 million (56) driven by higher organic net sales and acquisitions. Adjusted EBITA margin of 16.9 percent (16.9). • Profit for the period amounted to SEK 180 million (-123). • Cash flow from operating activities amounted to SEK 228 million (154). • Adjusted leverage reduced to 1.3x, a decrease of 0.4x compared to Q2 2026, driven primarily by positive cash flow from operating activities. 1 • EBITA includes net non-recurring effects of SEK 71 million related to the performance improvement program, of which SEK 67 million related to the reversal of a previously recognized impairment of tangible assets associated with the planned capacity adjustment of the Clinton facility in Q4 2025. The effect was excluded from adjusted EBITA. Significant events in the quarter • Oscar Wärme was appointed acting Head of Data Center and member of the Executive Management Team. • Hexatronic held an Extraordinary General Meeting to adopt the long-term performance-based share savings program. • Pernilla Lindén will transition from Group CFO to the newly created role President Fiber Solutions as of November 1, 2026. Net sales, SEK m Organic growth +% Adjusted EBITA margin % 1 2,498 17% 11.3% Figures for the third quarter 2026 Key figures 1 Definitions and calculations of alternative performance measures are provided on pages 26-28. Amounts in millions of Swedish kronor are based on whole kronor, and percentages are calculated using rounding to two decimal places. 2026 2025 2026 2025 25/26 2025 SEK m Q3 Q3 ∆% Jan-Sep Jan-Sep ∆% R12 Full-year Net sales 2,498 1,883 33% 6,441 5,671 14% 8,289 7,519 Adjusted EBITA¹ 281 146 93% 651 499 30% 784 632 Adjusted EBITA margin¹ 11.3% 7.7% 10.1% 8.8% 9.5% 8.4% EBITA 352 -56 n.a. 722 297 143% 759 334 EBITA margin 14.1% -3.0% 11.2% 5.2% 9. 2% 4.4% Operating profit (EBIT) 328 -82 n.a. 651 215 203% 663 226 Profit for the period 180 -123 n.a. 402 41 886% 346 -16 Earnings per share after dilution, SEK 0.81 -0.59 n.a. 1. 8 8 0.20 848% 1.63 -0.07 Cash flow from operating activities 228 154 49% 438 235 87% 788 584 Adjusted leverage, (x)¹ 1.3 2.0 1.3 2.0 1.3 1.9 Leverage, (x)¹ 1.3 2.3 1.3 2.3 1.3 2.2
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3 Interim report Q3 2026 Hexatronic delivered a strong Q3, with organic growth across all three business areas and improved profitability for the group. Net sales increased by 33 percent (of which 17 percent organic) to SEK 2,498 million which was the highest quarterly sales in th e company’s history. Adjusted EBITA grew 93 percent to SEK 281 million, corresponding to an adjusted EBITA margin of 11.3 percent up from 7.7 percent Q3 last year. The improvement was supported by all three business areas. Data Center delivered another record quarter, Harsh En vironment achieved its highest quarterly EBITA to date, and Fiber Solutions reported improved margins and organic growth driven by North America and APAC. The development during the quarter validates our strategy and the strength of Hexatronic’s diversified business model. The performance improvement program in Fiber Solutions has been instrumental in restoring profitability. Our business in North America co ntinued to grow rapidly and has now surpassed Europe as the largest region. We continue to enjoy compelling growth opportunities from our positioning as an important solution provider to data centers, defense and communications infrastructure around the wo rld. Fiber Solutions shifting to growth, driven by the US market Fiber Solutions continues to solidify the business turnaround. This was the third consecutive quarter with sequentially improving adjusted EBITA margin, now at 9.4 percent approaching our target of 10 percent over a cycle. The performance improvement program launched last year is of course an important driver and has delivered the expected benefits. We are therefore now increasingly shifting the business focus back towards growth, with organic net sales growth of 13 percent during the quarter. In particular, the US business is growing faster than anticipated and we have therefore decided to reverse the earlier decision to down-size one of our facilities in South Carolina. APAC is also experiencing robust growth with increasing opportunities arising in emerging markets. This development complements our strong progress in North America and provides further opportunities for Fiber Solutions to expand its presence in attractive growth markets. We also saw material orders from submarine cables being shipped in the quarter. Our European FTTH business on the other hand, continues to face challenging market conditions, especially in the UK and DACH regions. Record earnings in Harsh Environment Harsh Environment is moving in the right direction with net sales growth of 25 percent, of which 6 percent organic. We saw record earnings in the quarter with an adjusted EBITA of SEK 43 million, corresponding to a margin of 11.0 percent. The Connectivity business developed particularly well, supported by strong demand from the defense sector. We continue to enjoy a strong order book in this segment which further underlines the growth potential. Dynamic cables delivered modest organic growth with continued subdued demand in the energy sector. Momentum in Data Center continues Our Data Center business area had an exceptionally strong quarter. Net sales increased by 107 percent, including organic growth of 44 percent, with an adjusted EBITA margin of 16.9 percent. This was the business area’s first quarter with EBITA exceeding SEK 100 million and rolling 12-month net sales have now passed SEK 2 billion. It is particularly pleasing to see our two latest acquisitions, Communication Zone and Superior Fiber and Data Services performing well with Communication Zone delivering a material project for a large customer and Superior Fiber and Data Services cementing its strong position in the education segment. Demand in the data center market remains strong, supported by continued investment in digital infrastructure and increased computing capacity. However, this was an exceptionally strong quarter with tailwinds from both seasonal effects and timing of certain projects, positively impacting net sales in the quarter. Strong cash flow and materially lower leverage Cash flow from operating activities amounted to SEK 228 million, corresponding to a cash conversion rate of 72 percent. The positive cash flow, together with improved earnings, contributed to a reduction in adjusted leverage to 1.3x at the end of Q3, compared with 1.7x at the end of Q2. Priorities going forward and outlook Hexatronic enters the final quarter of the year with good momentum across the Group. We remain focused on creating growth in North America and driving demand for digital infrastructure across different sectors, while continuing to lift the performance of Fiber Solutions and Harsh Environment. At the same time, our strong financial position gives us flexibility to pursue growth through acquisitions. Some segments are beginning to see growth restrictions, limiting our ability to grow faster than current levels. This applies in particular to glass fiber and some types of connectors. Input costs show some divergence with certain costs, mainly fiber and transportation increasing. On the other hand, resin costs have stabilized at lower levels during the quarter. We are responding to the cost increases by validating new suppliers and increasing prices. However, increasing backlogs and lead times are sometimes unavoidable. For Fiber Solutions, North America remains the key growth priority driven both by market growth in fiber-to-the-home and transport networks as well as opportunities to take market share. Comments from the CEO Delivering on the plan with increasing margins and record sales
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4 Interim report Q3 2026 We expect the European market to remain subdued in the near term as transport network upgrades have not yet materialized to the same extent as in North America. We also foresee a normal seasonal pattern with lower activity in Q4 and Q1 compared to Q2 and Q3. Demand for submarine cables remains strong and we expect a similar level of deliveries in Q4 as in Q3. Our capacity expansion in Sweden, supported by the long-term partnership with NKT, is progressing according to plan. Harsh Environment continues to see strong long-term trends. Very strong demand in defence is offset by a more muted sentiment in oil and gas. This dynamic is expected to persist in Q4 and thus we expect a similar trend as in Q3 with modest margin improvement compared to H1 2026. Within Data Center, we see no signs of the underlying momentum to slow down. This quarter was an exceptionally strong quarter though, with tailwinds from both timing of certain projects and favourable seasonality. We expect a normalization of activity in Q4, reflecting normal project timing and the typical seasonality. The order book at the end of Q3 2026 for the group remained on similar levels as the previous quarter with around 4 months of net sales. In conclusion, I am pleased to see strong results across all three business areas, illustrating that our strategy is delivering results. The progress we have made since launching our financial targets a year ago demonstrates that we are well on our way towards achieving them. With a solid financial structure, we are well positioned to capture both organic and non-organic growth opportunities as demand for fast and reliable digital infrastructure continues to increase. Finally, I would like to thank all our employees for their continued commitment and hard work. These strong results are a reflection of the dedication and drive demonstrated across our entire organisation. Rikard Fröberg President and CEO
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5 Interim report Q3 2026 Net sales and growth Third quarter July 1 – September 30, 2026 The Group’s net sales in the third quarter increased by 33 percent to SEK 2,498 million (1,883). Organically, net sales increased by 17 percent in the quarter, driven by all business areas. Growth from acquisitions amounted to 14 percent and is attributable to Communication Zone, JOWO Systemtechnik AG and Superior Fiber & Data Services. Currency effects during the quarter amounted to 1 percent, primarily due to a stronger USD, GBP and AUD. During the quarter, net sales in Fiber Solutions amounted to SEK 1,414 million (1,236), corresponding to 56 percent (65) of the Group's net sales and a growth of 14 percent compared to the corresponding quarter last year. Net sales in Harsh Environment increased by 25 percent to SEK 393 million (314) in the quarter, corresponding to 16 percent (17) of the Group's total net sales. Data Center reported net sales of SEK 692 million (334), which represents growth of 107 percent compared with the corresponding quarter last year, and accounting for 28 percent (18) of total net sales. For the Group, net sales in Europe increased by 2 percent compared to last year, driven by Data Center and Harsh Environment. Net sales in North America increased by 80 percent, driven by Fiber Solutions and Data Center. In APAC, net sales in the quarter increased by 37 percent, driven by Fiber Solutions and Harsh Environment. The period January 1 – September 30, 2026 The Group’s net sales for the period increased 14 percent to SEK 6,441 million (5,671). Organically, net sales increased by 9 percent in the period, driven by all business areas. Growth from acquisitions amounted to 8 percent and is attributable to Communication Zone, JOWO Systemtechnik AG and Superior Fiber & Data Services. Currency effects during the period amounted to -3 percent, primarily due to a weaker USD, GBP, KRW and EUR. During the period, net sales in Fiber Solutions amounted to SEK 3,743 million (3,700), corresponding to 58 percent (65) of the Group's net sales and an increase of 1 percent compared to the corresponding period last year. Net sales in Harsh Environment increased by 11 percent to SEK 1,036 million (931) in the period, corresponding to 16 percent (17) of the Group's total net sales. Data Center reported net sales of SEK 1,665 million (1,040), which represents growth of 60 percent compared with the corresponding period last year, and accounting for 26 percent (18) of net sales. For the Group, net sales in Europe decreased by 6 percent compared to last year, driven by weak performance in Fiber Solutions. Net sales in North America increased by 44 percent, driven by Fiber Solutions and Data Center. In APAC, net sales in the period increased by 20 percent, mainly driven by Fiber Solutions and Harsh Environment. Analysis of change in net sales Q3 Q3 Jan-Sep Jan-Sep SEK m 2026 (%) 2025 (%) 2026 (%) 2025 (%) Previous year’s period 1,883 1,951 5,671 5,757 Organic growth 328 17% 30 2% 500 9% 38 1% Acquisitions and structural changes 263 14% 24 1% 453 8% 116 2% Exchange-rate effects 23 1% -122 -6% -183 -3% -240 -4% Current period 2,498 33% 1,883 -3% 6,441 14% 5,671 -1% Net sales (SEK m) and growth per quarter Sales by business area Q3 Sales by geographical area Q3 1,883 1,848 1,698 2,245 2,498-3% 1% -10% 18% 33% Q3 Q4 Q1 Q2 Q3 2025 2026 Fiber Solutions, 56% Harsh Environment, 16% Data Center, 28% Europe, 43% North America, 48% APAC, 9%
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6 Interim report Q3 2026 EBITA Third quarter July 1 – September 30, 2026 Adjusted EBITA amounted to SEK 281 million (146), corresponding to a margin of 11.3 percent (7.7) and a growth of 93 percent. The higher adjusted EBITA was primarily driven by higher net sales and acquisitions. The higher EBITA margin was primarily driven by Fiber Solutions through the performance improvement program launched in Q3 2025, which now has full effect, and higher net sales in relation to the cost base. EBITA amounted to SEK 352 million (-56), corresponding to a margin of 14.1 percent (-3.0). EBITA includes net non-recurring effects of SEK 71 million related to the performance improvement program, of which SEK 67 million related to the reversal of a previously recognized impairment of tangible assets associated with the planned capacity adjustment of the Clinton facility in Q4 2025. The decision to reverse the earlier decision to down-size the Clinton facility reflects both stronger than anticipated growth in the US market and expectations of continued favorable market development. The effect is excluded from adjusted EBITA. The period January 1 – September 30, 2026 Adjusted EBITA amounted to SEK 651 million (499), corresponding to a margin of 10.1 percent (8.8), and a growth of 30 percent. The higher adjusted EBITA was primarily driven by higher net sales and acquisitions. The higher EBITA margin was primarily driven by Fiber Solutions through the performance improvement program launched in Q3 2025. EBITA amounted to SEK 722 million (297), corresponding to a margin of 11.2 percent (5.2). EBITA includes net non-recurring effects of SEK 71 million related to the performance improvement program, of which SEK 67 million related to the reversal of a previously recognized impairment of tangible assets associated with the planned capacity adjustment of the Clinton facility in Q4 2025. The decision to reverse the earlier decision to down-size the Clinton facility reflects both stronger than anticipated growth in the US market and expectations of continued favorable market development. The effect is excluded from adjusted EBITA. Financial items Third quarter July 1 – September 30, 2026 Financial items for the quarter amounted to SEK -73 million (-9), of which net interest amounted to SEK -26 million (-31), realized and unrealized exchange rate differences amounted to SEK -18 million (3) and other financial items amounted to SEK -29 million (19). Other financial items include revaluation of additional purchase price and acquisition option of SEK -28 million (20), attributable to both currency effects and changed assumptions. The period January 1 – September 30, 2026 Financial items for the period amounted to SEK -102 million (-71), of which net interest amounted to SEK -81 million (-101), realized and unrealized exchange rate differences amounted to SEK -5 million (0) and other financial items amounted to SEK -15 million (30). Other financial items include revaluation of additional purchase price and acquisition option of SEK -10 million (35), attributable to both currency effects and changed assumptions. Profit for the period Third quarter July 1 – September 30, 2026 Profit for the period amounted to SEK 180 million (-123), and earnings per share after dilution amounted to SEK 0.81 (-0.59). Tax for the quarter amounted to SEK -75 million (-32), resulting in an average effective tax rate of 29.6 percent (-35.1). The period January 1 – September 30, 2026 Profit for the period amounted to SEK 402 million (41), and earnings per share after dilution Adjusted EBITA (SEK m) and adjusted EBITA margin (%) Adjusted EBITA by business area Q3 Earnings per share (SEK) 146 133 146 224 2817.7% 7.2% 8.6% 10.0% 11.3% Q3 Q4 Q1 Q2 Q3 2025 2026 Fiber Solutions, 45% Harsh Environment, 15% Data Center, 40% -0.59 -0.27 0.45 0.61 0.81 Q3 Q4 Q1 Q2 Q3 2025 2026
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7 Interim report Q3 2026 amounted to SEK 1.88 (0.20). Tax for the period amounted to SEK -147 million (-103), resulting in an average effective tax rate of 26.7 percent (71.6). The tax rate for the period was positively impacted by the assessment of deferred tax assets, supported by available deferred tax liabilities in the same jurisdiction. Cash flow and investments Third quarter July 1 – September 30, 2026 Cash flow from operating activities amounted to SEK 228 million (154). Higher accounts receivables and lower accounts payables impacted working capital negatively which was partly offset by positive contributions from operating receivables and operating liabilities, resulting in change in working capital of SEK -88 million (22). During the quarter, cash flow from the Group's investing activities amounted to SEK -42 million (-27). Investments in intangible and tangible fixed assets amounted to SEK -38 million (-27). Cash flow effect related to business combinations after deduction of acquired cash and cash equivalents amounted to SEK -3 million (0), mainly attributable to payment of earnout attributable to DCS. During the quarter, cash flow from the Group’s financing activities amounted to SEK -246 million (-33), mainly explained by loan repayments of SEK -212 million (-1) and amortization of lease liabilities of SEK -34 million (-34). Total cash flow for the quarter amounted to SEK -60 million (93). The period January 1 – September 30, 2026 Cash flow from operating activities during the period amounted to SEK 438 million (235). Higher accounts receivable and inventory negatively impacted working capital, partly offset by positive contributions from accounts payable and operating liabilities, resulting in a change in working capital of SEK -205 million (-215). During the period, cash flow from the Group’s investing activities amounted to SEK -619 million (-81). Investments in intangible and tangible fixed assets amounted to SEK -91 million (-71). Cash flow effect related to business combinations after deduction of acquired cash and cash equivalents amounted to SEK -527 million (-10), mainly attributable to the acquisitions of JOWO Systemtechnik AG and Superior Fiber & Data Services, as well as payments of additional purchase price related to KNET, DCS and an acquisition option related to Qubix. Cash flow from the Group’s financing activities amounted to SEK 134 million (-134), mainly explained by net proceeds from new share issues of SEK 583 million. This was partly offset by loan repayments of SEK -712 million (-42) and amortization of lease liabilities of SEK -99 million (-101), while new issued loans amounted to SEK 362 million (8). Total cash flow for the period amounted to SEK -47 million (20). Operating cash flow (SEK m) Investments (SEK m) 154 349 29 181 228 Q3 Q4 Q1 Q2 Q3 2025 2026 27 27 22 30 38 Q3 Q4 Q1 Q2 Q3 2025 2026
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8 Interim report Q3 2026 Fiber Solutions Fiber optic cables, ducts, and network products for broadband deployment. Net sales and profit Net sales increased by 14 percent to SEK 1,414 million in the third quarter, driven by strong growth in the US. Organically, net sales increased by 13 percent, a difference of 1 percentage points compared to net sales growth driven by currency effects. Net sales in Europe decreased by 9 percent. In North America, net sales increased by 51 percent. In the APAC region, net sales increased by 28 percent. Adjusted EBITA amounted to SEK 133 million, corresponding to an adjusted EBITA margin of 9.4 percent. An increase compared to last year due to the performance improvement program, which now has full effect and higher net sales in relation to the cost base. EBITA includes net non-recurring effects of SEK 71 million related to the performance improvement program, of which SEK 67 million related to the reversal of a previously recognized impairment of tangible assets associated with the planned capacity adjustment of the Clinton facility in Q4 2025. See page 6 for more information. Sales by Geography Q3 Net sales and adjusted EBITA margin Harsh Environment Advanced, dynamic cables and solutions for connectivity in challenging environments. Net sales and profit Net sales increased by 25 percent to SEK 393 million in the third quarter, driven by organic growth and the acquisition of JOWO Systemtechnik. Organic growth was 6 percent primarily driven by connectivity solutions. As previously communicated, the companies within Harsh Environment have an international customer base and a majority of revenues from larger projects, which means that sales per geography can fluctuate between quarters. Adjusted EBITA amounted to SEK 43 million, corresponding to an adjusted EBITA margin of 11.0 percent. In-line with same period previous year. 2026 2025 2026 2025 25/26 2025 SEK m Q3 Q3 ∆% Jan-Sep Jan-Sep ∆% R12 Full-year Net sales 1,414 1,236 14% 3,743 3,700 1% 4,913 4,870 Adjusted EBITA 133 66 102% 317 249 27% 378 310 Adjusted EBITA % 9.4% 5.4% 8.5% 6.7% 7.7% 6.4% EBITDA 204 24 740% 492 329 49% 596 433 EBITDA % 14.5% 2.0% 13.1% 8.9% 12.1% 8.9% EBITA 204 -124 n.a. 388 60 551% 354 26 EBITA % 14.5% -10.0% 10.4% 1.6% 7.2% 0.5% Investments 27 10 52 30 62 40 – % of net sales 1.9% 0.8% 1.4% 0.8% 1.3% 0.8% Europe, 45% North America, 42% APAC, 13% 1,236 1,169 982 1,347 1,414 5.4% 5.2% 6.2% 9.1% 9.4% Q3 Q4 Q1 Q2 Q3 2025 2026 Sales by Geography Q3 Net sales and adjusted EBITA margin 2026 2025 2026 2025 25/26 2025 SEK m Q3 Q3 ∆% Jan-Sep Jan-Sep ∆% R12 Full-year Net sales 393 314 25% 1,036 931 11% 1,346 1,241 Adjusted EBITA 43 35 24% 103 104 -1% 138 139 Adjusted EBITA % 11.0% 11.1% 9.9% 11.1% 10.3% 11.2% EBITDA 55 44 23% 136 132 3% 182 178 EBITDA % 14.0% 14.2% 13.1% 14.2% 13.5% 14.3% EBITA 43 33 32% 103 102 1% 138 137 EBITA % 11.0% 10.4% 9.9% 10.9% 10.3% 11.0% Investments 7 13 28 32 43 47 – % of net sales 1.7% 4.2% 2.7% 3.4% 3.2% 3.8% Europe, 54% North America, 35% APAC, 11% 314 310 283 361 393 11.1% 11.4% 8.5% 10.0% 11.0% Q3 Q4 Q1 Q2 Q3 2025 2026
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9 Interim report Q3 2026 Data Center Customized products and services for data center companies and other fiber intense businesses such as financial institutions, schools and hospitals, as well as adjacent services such as audio-visual installations and security and access solutions. Net sales and profit Net sales increased by 107 percent to SEK 692 million in the third quarter driven by strong organic growth and the acquisitions of Communication Zone and Superior Fiber & Data Services. Organic net sales increased by 44 percent. Net sales in Europe increased by 12 percent. In North America, net sales increased by 281 percent. Adjusted EBITA amounted to SEK 117 million, a 108 percent increase driven by higher organic net sales and acquisitions. The adjusted EBITA margin of 16.9 percent was in-line with the same period last year. Sales by Geography Q3 Net sales and adjusted EBITA margin Corporate/Elimination Corporate functions/Elimination mainly refers to central functions such as corporate staff, as well as other non-core activities within the respective segments, including elimination of internal transactions between segments. Adjusted EBITA amounted to SEK ‑12 million (-11) in the quarter. 2026 2025 2026 2025 25/26 2025 SEK m Q3 Q3 ∆% Jan-Sep Jan-Sep ∆% R12 Full-year Net sales 692 334 107% 1,665 1,040 60% 2,034 1,409 Adjusted EBITA 117 56 108% 273 196 39% 329 252 Adjusted EBITA % 16.9% 16.9% 16.4% 18.8% 16.2% 17.9% EBITDA 123 60 105% 290 208 40% 352 269 EBITDA % 17.8% 18.0% 17.4% 20.0% 17.3% 19.1% EBITA 117 56 110% 273 195 40% 329 252 EBITA % 16.9% 16.7% 16.4% 18.8% 16.2% 17.8% Investments 4 4 10 9 12 11 – % of net sales 0.6% 1.1% 0.6% 0.8% 0.6% 0.8% Europe, 35% North America, 65% APAC, 0% 334 369 434 538 692 16.9% 15.3% 16.8% 15.5% 16.9% Q3 Q4 Q1 Q2 Q3 2025 2026 2026 2025 2026 2025 25/26 2025 SEK m Q3 Q3 ∆% Jan-Sep Jan-Sep ∆% R12 Full-year Net sales -1 0 -3 -1 -4 -1 Adjusted EBITA -12 -11 -6% -42 -50 16% -61 -70 Adjusted EBITA % - - - - - - EBITDA -12 -20 42% -40 -57 29% -60 -77 EBITDA % EBITA -12 -21 42% -42 -59 30% -63 -80 EBITA % Investments 1 0 1 0 1 0 – % of net sales - - - - - -
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10 Interim report Q3 2026 Financial position The Group's net debt amounted to SEK 1,305 million as of September 30, 2026, compared to SEK 1,582 million as of December 31, 2025. Leverage was 1.3x as of September 30, 2026, compared with 2.2x at year‑end 2025. Adjusted leverage was 1.3x as of September 30, 2026, compared with 1.9x at year‑end 2025. Available funds as of September 30, 2026, including unutilized credit facilities, amounted to SEK 2,090 million compared to available funds of SEK 1,797 million as of December 31, 2025. Equity Equity amounted to SEK 4,896 million as of September 30, 2026, corresponding to SEK 22.11 per outstanding share at the end of the reporting period before dilution, compared with equity of SEK 3,468 million, corresponding to SEK 16.87 per outstanding share, as of December 31, 2025. Employees The number of employees in the Group as of September 30, 2026, was 2,133, compared to 2,011 employees as of December 31, 2025, an increase mainly due to acquisitions. Parent company The Parent Company’s principal activity is the provision of Group‑wide services. During the period January-September, revenue amounted to SEK 115 million (104), while profit before tax was SEK 49 million (346), impacted by dividends from subsidiaries of SEK 150 million (470). The Parent Company’s short‑term liabilities, which mainly comprise internal cash pool balances, are currently financed through the internal cash pool. Over time, an increasing share of this funding is expected to be provided through dividends and group contributions. 1.3x Adjusted leverage 2,133 Number of employees
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11 Interim report Q3 2026 Other information Seasonal variations Hexatronic's sales of products and services within Fiber Solutions are affected by seasonal variations, which means that sales during the first and fourth quarters of the year are usually slightly lower than during the summer months when weather conditions are more favorable for groundwork. Sales in harsh environment are unaffected by seasonal variations, while Data Center often has slightly higher activity during the first half of the year and slightly lower during the second half. Significant risks and uncertainties Hexatronic's operations, like all business activities, are associated with risks of various kinds. Identifying and evaluating risks is a natural and integral part of the business to control, limit, and proactively manage prioritized risks. The Group's ability to identify and prevent risks minimizes the risk of unpredictable events harming the company. Risk management aims not necessarily to eliminate risk, but rather to secure our business objectives with a balanced risk portfolio. Risks related to business development and long-term strategic planning, as well as the Group's work with sustainability issues and related risks, are managed by Group Management and ultimately prioritized by the Board of Directors. Hexatronic has divided identified risks into market-related, operational, regulatory, and financial risks. Sustainability risks are integral to all risk areas and are described in more detail in the Group's sustainability report. A more detailed description of the Group's risks and risk management is provided in Hexatronic Group's Annual Report and Sustainability Report 2025, on pages 32-35. Current geopolitical uncertainty, uncertainty about trade barriers and tariffs, and a generally uncertain macroeconomic situation affect Hexatronic. The Group's strategy of local manufacturing helps to reduce these risks. The expansion of fiber optic infrastructure is supported by private players and government investment programs, such as the Gigabit Strategy in Germany, the Project Gigabit in the UK, and the BEAD program in the US. Similar programs exist in most countries. Should the willingness to invest decrease, for example, due to increased costs and/or reduced government investment programs, this could affect Hexatronic's business and thus future revenues. In recent years, Hexatronic has diversified its business by expanding into new geographic markets, market segments, and applications, and therefore has limited exposure to developments in individual markets. Transactions with related parties There were no significant transactions with related parties during the period. Review This interim report has been subject to review by the company's auditor. Gothenburg, October 22, 2026 Rikard Fröberg CEO and President Hexatronic Group AB (publ)
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12 Interim report Q3 2026 Consolidated income statement Consolidated statement of comprehensive income 2026 2025 2026 2025 2025 SEK m Note Q3 Q3 Jan-Sep Jan-Sep Full-year Revenue Net sales 2 2,498 1,883 6,441 5,671 7,519 Other operating income 18 15 53 58 71 Total 2,516 1,898 6,494 5,729 7,590 Operating expenses Raw materials and goods for resale -1,503 -1,216 -3,876 -3,457 -4,625 Other external costs -278 -218 -710 -645 -847 Personnel costs -346 -350 -993 -987 -1,285 Other operating expenses -18 -5 -37 -28 -29 Depreciation and impairment of tangible assets -19 -165 -156 -315 -469 Earnings before amortisation of intangible assets (EBITA) 352 -56 722 297 334 Amortisation of intangible assets -24 -26 -71 -83 -108 Operating profit (EBIT) 328 -82 651 215 226 Result from financial items Financial items, net -73 -9 -102 -71 -105 Result after financial items 255 -91 549 144 121 Income taxes -75 -32 -147 -103 -137 Profit for the period 180 -123 402 41 -16 Attributable to: Parent Company shareholders 180 -122 404 42 -14 Non-controlling interest -1 0 -1 -1 -2 Profit for the period 180 -123 402 41 -16 Earnings per share Earnings per share before dilution (SEK) 0.81 -0.59 1.88 0.20 -0.07 Earnings per share after dilution (SEK) 0.81 -0.59 1.88 0.20 -0.07 2026 2025 2026 2025 2025 SEK m Q3 Q3 Jan-Sep Jan-Sep Full-year Profit for the period 180 -123 402 41 -16 Items which can later be recovered in the income statement Translation differences 294 -107 505 -614 -745 Hedging of net investments -31 19 -87 179 206 Tax attributable to items that can be returned to the income statement 6 -4 18 -37 -43 Other comprehensive income for the period 269 -92 436 -472 -581 Comprehensive income for the period 449 -215 839 -431 -597 Attributable to: Parent Company shareholders 449 -214 839 -428 -593 Non-controlling interest 0 -1 0 -2 -4 Comprehensive income for the period 449 -215 839 -431 -597
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13 Interim report Q3 2026 Consolidated balance sheet SEK m Note 2026-09-30 2025-09-30 2025-12-31 Assets Non current assets Intangible fixed assets 3,462 2,694 2,835 Property plant and equipment 2,064 2,040 1,908 Financial assets 59 45 37 Total non-current assets 5,585 4,780 4,780 Current assets Inventories 1,536 1,386 1,202 Accounts receivable 1,686 1,275 1,184 Other receivables 30 9 18 Prepaid expenses and accrued income 314 236 211 Cash and cash equivalents 678 596 661 Total current assets 4,244 3,501 3,277 TOTAL ASSETS 9,829 8,280 8,057 Equity 4,896 3,633 3,468 Non-current liabilities Liabilities to credit institutions 7 1,919 2,239 2,181 Deferred tax 275 240 236 Non-current lease liabilities 346 333 330 Other non-current liabilities 8 337 87 181 Total non-current liabilities 2,878 2,899 2,928 Current liabilities Liabilities to credit institutions 7 64 63 62 Current lease liabilities 127 121 119 Accounts payable 962 722 696 Provisions 61 88 69 Current tax liabilities 39 22 17 Other liabilities 8 145 295 294 Accrued expenses and deferred income 655 437 405 Total current liabilities 2,055 1,749 1,661 TOTAL EQUITY, PROVISION AND LIABILITIES 9,829 8,280 8,057
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14 Interim report Q3 2026 Consolidated statement of changes in equity Share Capital Other capital contri- butions Reserves Hedging reserve Result brought forward, including result for the period Total Non- controlling interests Total equity Balance brough forward as of 1 January, 2025 2 1,027 428 -58 2,624 4,022 35 4,057 Profit for the period - - - - -14 -14 -2 -16 Other comprehensive income - - -743 164 - -579 -2 -581 Total comprehensive income 0 0 -743 164 -14 -593 -4 -597 New shares related to employee stock option programme Employee stock option programme - 4 - - - 4 - 4 Share-based remuneration 0 - - - 3 3 - 3 Sale of shares linked to incentive programme - - - - 1 1 - 1 Total transactions with shareholders, reported directly in equity 0 4 0 0 4 8 0 8 Balance carried forward as of 31 December, 2025 2 1,031 -316 106 2,614 3,437 31 3,468 Balance brough forward as of 1 January, 2026 2 1,031 -316 106 2,614 3,437 31 3,468 Profit for the period 404 404 -1 402 Other comprehensive income 504 -69 435 2 436 Total comprehensive income 0 0 504 -69 404 839 0 839 Employee stock option programme - 3 - - - 3 - 3 Share-based remuneration - - - - 3 3 - 3 New share issue 0 583 - - - 584 - 584 Total transactions with shareholders, reported directly in equity 0 587 0 0 3 590 0 590 Balance carried forward as of September 30, 2026 2 1,618 188 37 3,020 4,865 31 4,896
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15 Interim report Q3 2026 Consolidated statement of cash flow 2026 2025 2026 2025 2025 SEK m Note Q3 Q3 Jan-Sep Jan-Sep Full-year Operating profit 328 -82 651 215 226 Items not affecting cash flow 6 74 273 203 459 673 Interest received 4 4 10 10 13 Interest paid -25 -30 -79 -97 -125 Income tax paid -64 -35 -141 -137 -188 Cash flow from operating activities before changes in working capital 316 132 643 450 599 Increase (-)/decrease (+) in inventories 0 68 -99 -120 24 Increase (-)/decrease (+) in accounts receivable -83 -22 -299 -260 -166 Increase (-)/decrease (+) in operating receivables 25 4 -4 -20 -22 Increase (+)/decrease (-) in accounts payable -63 -73 134 69 32 Increase (+)/decrease (-) in operating liabilities 33 46 64 116 118 Cash flow from changes in working capital -88 22 -205 -215 -14 Cash flow from operating activities 228 154 438 235 584 Investing activities Acquisition of tangible and intangible assets -38 -27 -91 -71 -98 Acquisition of subsidiaries after deduction of cash and cash equivalents -3 – -527 -10 -174 Change in financial assets -1 – -1 – – Cash flow from investing activities -42 -27 -619 -81 -272 Financing activities Borrowings – – 362 8 8 Amortisation of loans -212 -1 -712 -42 -74 Amortisation of lease liabilities -34 -34 -99 -101 -133 New share issues for the period – – 583 – – Sale of shares – 1 – 1 1 Cash flow from financing activities -246 -33 134 -134 -199 Cash flow for the period -60 93 -47 20 114 Cash and cash equivalents at the start of the period 694 518 661 633 633 Exchange rate difference in cash and cash equivalents 44 -15 65 -57 -86 Cash and cash equivalents at the end of the period 678 596 678 596 661
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16 Interim report Q3 2026 Key metrics for the Group For definition of key metric, see the section Definition alternative key metrics. The key metrics presented are deemed essential to describing the Group’s development as they both constitute the Group’s financial objectives (growth in net sales and EBITA margin) and are the key metrics by which the Group is governed. Several key metrics are considered relevant to investors, such as earnings per share and the number of shares. Other key metrics are presented in order to provide different perspectives on how the Group is developing and are therefore deemed to be of benefit to the reader. 2026 2025 2026 2025 25/26 2025 SEK m Q3 Q3 Jan-Sep Jan-Sep R12 Full-year Growth in net sales 33% -3% 14% -1% 11% -1% EBITA margin 14.1% -3.0% 11.2% 5.2% 9.2% 4.4% Adjusted EBITA margin 11.3% 7.7% 10.1% 8.8% 9.5% 8.4% EBITA margin, 12 months rolling 9.2% 6.4% 9.2% 6.4% 9.2% 4.4% Adjusted EBITA margin, 12 months rolling 9.5% 9.1% 9.5% 9.1% 9.5% 8.4% Operating margin 13.1% -4.3% 10.1% 3.8% 8.0% 3.0% Equity asset ratio 49.8% 43.9% 49.8% 43.9% 49.8% 43.0% Earnings per share before dilution (SEK) 0.81 -0.59 1.88 0.20 1.63 -0.07 Earnings per share after dilution (SEK) 0.81 -0.59 1.88 0.20 1.63 -0.07 Net sales per employee (SEK thousand) 1,180 941 3,166 2,838 4,092 3,762 Result per employee (SEK thousand) 85 -61 199 21 171 -7 Quick asset ratio 132% 121% 132% 121% 132% 125% Cash flows from operating activities 228 154 438 235 788 584 Leverage, x 1.3 2.3 1.3 2.3 1.3 2.2 Adjusted leverage, x 1.3 2.0 1.3 2.0 1.3 1.9 Average number of employees 2,117 2,001 2,035 1,998 2,026 1,999 Number of shares at period end before dilution 221,448,661 205,673,228 221,448,661 205,673,228 221,448,661 205,637,228 Average number of shares before dilution 221,448,661 205,637,228 214,416,478 205,527,551 212,221,665 205,554,969 Average number of shares after dilution 221,528,980 205,637,228 214,496,796 205,527,551 212,301,984 205,554,971
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17 Interim report Q3 2026 Parent Company income statement Total comprehensive income is the same as profit for the period in the parent company since there is nothing accounted for as other comprehensive income. 2026 2025 2026 2025 2025 SEK m Q3 Q3 Jan-Sep Jan-Sep Full-year Revenue Net sales 39 34 115 104 139 Total 39 34 115 104 139 Operating expenses Other external costs -35 -22 -96 -84 -122 Personnel costs -20 -30 -62 -72 -79 Other operating expenses 0 0 0 0 0 Depreciation of tangible assets 0 0 0 0 0 Earnings before amortisation of intangible assets (EBITA) -16 -18 -43 -53 -63 Amortisation of intangible assets - 0 0 -2 -2 Operating profit (EBIT) -16 -19 -43 -54 -64 Result from financial items Financial items, net -28 -121 93 401 425 Result after financial items -44 -140 49 346 361 Appropriations - - - - 81 Result before tax -44 -140 49 346 442 Income taxes -6 4 -10 -13 -19 Net result for the period -50 -135 40 334 423
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18 Interim report Q3 2026 Parent Company balance sheet SEK m 2026-09-30 2025-09-30 2025-12-31 Assets Intangible assets 1 1 0 Tangible assets 1 0 0 Financial assets 7,076 6,334 6,493 Total non-current assets 7,078 6,335 6,493 Current receivables Receivables from Group companies 310 201 319 Current tax receivables - 3 3 Other receivables 0 1 1 Prepaid expenses and accrued income 7 9 10 Total current receivables 316 214 333 Cash and bank balances 3 99 73 Total current assets 319 313 406 TOTAL ASSETS 7,397 6,648 6,899 Equity 4,307 3,590 3,681 Untaxed reserves 24 29 24 Non-current liabilities Liabilities to credit institutions 1,912 2,233 2,176 Other non-current liabilities 101 44 51 Total non-current liabilities 2,013 2,277 2,227 Current liabilities Liabilities to credit institutions 64 63 62 Accounts payable 9 15 17 Provisions 0 5 4 Liabilities to Group companies 896 416 651 Current tax liabilities 6 - - Other liabilities 38 215 200 Accrued expenses and deferred income 39 37 33 Total current liabilities 1,053 751 966 TOTAL EQUITY, PROVISIONS AND LIABILITIES 7,397 6,648 6,899
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19 Interim report Q3 2026 Notes Note 1. Accounting principles The consolidated financial statements for Hexatronic Group (“Hexatronic”) have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the EU, RFR 1 Supplementary Accounting Rules for Groups and the Swedish Annual Accounts Act. This interim report has been prepared in accordance with IAS 34 Interim Reporting; the Swedish Annual Accounts Act and RFR 1 Supplementary Accounting Rules for Groups. The Parent Company’s financial statements have been prepared in accordance with the Swedish Annual Accounts Act and the Swedish Financial Reporting Board’s recommendation RFR 2 Accounting for Legal Entities. The application of RFR 2 means that in its interim report for the legal entity, the Parent Company applies all IFRS, and statements adopted by the EU as far as possible within the framework of the Swedish Annual Accounts Act and the Swedish Insurance Act and regarding the relationship between accounting and taxation. For full accounting policies, see the Annual Report for 2025. Note 2. Revenue Note 3. Segment overview The Group's reportable operating segments have been identified from a management perspective. The segment information is based on internal reporting to the chief operating decision maker, which at Hexatronic has been equated with Group Management. The Group´s operations are managed and reported by three business segments: Fiber Solutions is the Group 's business in fiber optic cables, ducts and network products for FTTH connectivity, 5G, transport networks, local city networks and submarine cables. Customers are mainly telecom operators, network owners, and distributors. Harsh Environment provides advanced cables and solutions adapted to withstand connectivity in the most challenging environments. Customers are mainly companies in the energy sector (offshore), marine technology, defense, and aerospace. The business area also includes the business of advanced fiber optic sensor systems. Data Center offers a broad range of specialist services for the data center market, as well as adjacent services such as audio-visual installations and security and access solutions. Hexatronic designs infrastructure and cable solutions, plans installations and provide support and operational services — all to ensure that installations are carried out safely and efficiently. In addition to the mentioned segments, central functions are reported under Corporate/Elimination. This mainly includes Group staff, central departments, and other activities outside the core Jan-Sep 2026 Geographical markets Fiber Solutions 1,725 1,521 497 3,743 Harsh Environment 533 379 124 1,036 Data Center 738 920 6 1,665 Corporate/Elimination -2 -1 0 -3 Total 2,994 2,819 628 6,441 Category Goods 2,529 2,163 621 5,314 Services 465 656 7 1,127 Total 2,994 2,819 628 6,441 Total APAC North America Europe Jan-Sep 2025 Geographical markets Fiber Solutions 2,065 1,226 409 3,700 Harsh Environment 440 382 109 931 Data Center 680 355 5 1,040 Corporate/Elimination -1 0 - -1 Total 3,184 1,963 524 5,671 Category Goods 2,715 1,718 517 4,950 Services 469 245 8 721 Total 3,184 1,963 524 5,671 Europe North America APAC Total
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20 Interim report Q3 2026 operations of each segment, including the elimination of internal transactions between segments. Consolidation of the business segments is carried out in accordance with the same accounting principles applied to the Group as a whole. Transactions between business segments are conducted on market terms. The segments are managed and reported based on key financial metrics: net sales, EBITDA, EBITA, and investments (acquisitions of tangible and intangible fixed assets), which are presented below. Summary of key performance indicators for the Group's segments: 2026 2025 2026 2025 2025 Net sales Q3 Q3 Jan-Sep Jan-Sep Full-year Fiber Solutions 1,414 1,236 3,743 3,700 4,870 Harsh Environment 393 314 1,036 931 1,241 Data Center 692 334 1,665 1,040 1,409 Corporate/Elimination -1 0 -3 -1 -1 Total net sales 2,498 1,883 6,441 5,671 7,519 EBITDA Fiber Solutions 204 14.5% 24 2.0% 492 13.1% 329 8.9% 433 8.9% Harsh Environment 55 14.0% 44 14.2% 136 13.1% 132 14.2% 178 14.3% Data Center 123 17.8% 60 18.0% 290 17.4% 208 20.0% 269 19.1% Corporate/Elimination -12 -20 -40 -57 -77 Total EBITDA 371 14.9% 109 5.8% 878 13.6% 613 10.8% 804 10.7% Non-recurring items (EBITDA) 0 115 0 115 134 Adjusted EBITDA Fiber Solutions 204 14.4% 127 10.3% 491 13.1% 431 11.7% 554 11.4% Harsh Environment 55 14.0% 47 14.9% 136 13.1% 134 14.4% 180 14.5% Data Center 123 17.8% 61 18.2% 290 17.4% 209 20.1% 270 19.2% Corporate/Elimination -12 -10 -40 -47 -66 Total adjusted EBITDA 371 14.9% 224 11.9% 878 13.6% 727 12.8% 937 12.5% Depreciation and impairment of tangible assets -19 -165 -156 -315 -469 EBITA Fiber Solutions 204 14.5% -124 -10.0% 388 10.4% 60 1.6% 26 0.5% Harsh Environment 43 11.0% 33 10.4% 103 9.9% 102 10.9% 137 11.0% Data Center 117 16.9% 56 16.7% 273 16.4% 195 18.8% 252 17.8% Corporate/Elimination -12 -21 -42 -59 -80 Total EBITA 352 14.1% -56 -3.0% 722 11.2% 297 5.2% 334 4.4% Non-recurring items (EBITA) -71 202 -71 202 298 Adjusted EBITA Fiber Solutions 133 9.4% 66 5.4% 317 8.5% 249 6.7% 310 6.4% Harsh Environment 43 11.0% 35 11.1% 103 9.9% 104 11.1% 139 11.2% Data Center 117 16.9% 56 16.9% 273 16.4% 196 18.8% 252 17.9% Corporate/Elimination -12 -11 -42 -50 -70 Total adjusted EBITA 281 11.3% 146 7.7% 651 10.1% 499 8.8% 632 8.4% Amortisation of intangible assets -24 -26 -71 -83 -108 Financial items, net -73 -9 -102 -71 -105 Result after financial items 255 -91 549 144 121 Investments (Capex) Fiber Solutions 27 10 52 30 40 Harsh Environment 7 13 28 32 47 Data Center 4 4 10 9 11 Corporate/Elimination 1 0 1 0 0 Total investments (Capex) 38 27 91 71 98
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21 Interim report Q3 2026 Growth and share by segment Sales growth per segment, adjusted for currency effects and acquisitions Growth and share by geography 2026 2025 SEK m Q3 Q3 Fiber Solutions 1,414 56% 14% 1,236 65% -14% Harsh Environment 393 16% 25% 314 17% 8% Data Center 692 28% 107% 334 18% 43% Other -1 0% - 0 0% - Total 2,498 100% 33% 1,883 100% -3% Allocation % Growth % Allocation % Growth % 2026 2025 2026 2025 Yearly growth (%) Q3 Q3 Jan-Sep Jan-Sep Fiber Solutions 13% -7% 4% -6% Harsh Environment 6% 15% 3% 10% Data Center 44% 39% 30% 29% Other - - - Total Group 17% 2% 9% 1% 2026 2025 SEK m Q3 Q3 Europe 1,085 43% 2% 1,059 56% 4% North America 1,190 48% 80% 662 35% -13% APAC 223 9% 37% 163 9% -7% Total 2,498 100% 33% 1,883 100% -3% Growth % Allocation % Growth % Allocation %
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22 Interim report Q3 2026 Note 4. Business acquisitions Acquisitions 2026 On 1 April 2026, the Group acquired JOWO Systemtechnik AG for a purchase consideration of estimated SEK 177 million, consisting of fixed purchase consideration of EUR 11.7 million and contingent purchase consideration measured at present value of EUR 4.4 million. On 1 June 2026, the Group acquired Superior Fiber & Data Services Inc through Hexatronic Data Center Group Inc. The purchase consideration for Superior amounted to estimated SEK 374 million and consisted of cash of USD 33.7 million, of which USD 2.8 million is deferred, contingent consideration measured at present value of USD 2.2 million, and a financial liability related to the sellers’ 4 percent shareholding in Hexatronic Data Center Group Inc. The shares are subject to a call/put option and are therefore classified as a financial liability. At the acquisition date of Superior Fiber & Data Services Inc, there were also existing minority shareholders whose holdings are subject to call/put options. As all minority interests are considered likely to be redeemed, the acquisition is accounted for without any non-controlling interest. The contingent consideration and the redeemable minority interests are measured at fair value at each reporting date, with changes reported in the income statement. The acquisition analysis below summarizes the preliminary purchase price for the acquisitions and the fair value of acquired assets and assumed liabilities reported on the acquisition date. Acquisition-related costs of SEK 6 million are included in other external costs in the Group's statement of comprehensive income for the 2026 financial year. Total cash flow, excluding acquisition-related costs, attributable to the business combinations amounted to SEK 364 million. Goodwill is attributable to the future earning capacity that the companies are expected to generate. According to the respective agreements on contingent consideration, the Group shall pay a maximum of EUR 7.6 million for JOWO based on EBITDA for the period 2026–2030, and a maximum of USD 3 million for Superior based on accumulated EBITDA for the period 2026– 2029. The fair value of accounts receivable from the acquisitions amounts to SEK 107 million. No account receivables are considered doubtful. Net sales from the acquisitions included in the Group's income statement since the acquisition dates in 2026 amounted to SEK 272 million. The acquired companies contributed EBITDA of SEK 42 million to the Group since the acquisition dates. If the acquired companies had been consolidated from 1 January 2026 until 30 September 2026, the Group's income statement for the period would have increased by net sales of SEK 478 million and EBITDA of SEK 70 million. Acquisitions 2025 On November 25, 2025, the Group acquired Communication Zone through Hexatronic Data Center Group Inc. The purchase price consisted of cash of USD 21.8 million, a contingent consideration calculated at present value of USD 2.6 million, and 6.4 percent of the shares in Hexatronic Data Center Group Inc. issued to the sellers. The issued shares are subject to a call/put option and are therefore classified as a financial liability. At the time of acquisition, there were also two minor existing minority shareholders in Hexatronic Data Center Group Inc., whose holdings are also subject to call/put options. As all minority interests are considered likely to be redeemed, the acquisition is reported without any non-controlling interest. Both the contingent consideration and the redeemable minority interests are measured at fair value on an ongoing basis, with changes reported in the income statement. Preliminary purchase price Cash and cash equivalents 414 Holdback purchase consideration (not paid) 26 Liability relating to redeemable minority (put option) 42 Contingent purchase price (not paid) 69 Total purchase price 551 Reported amounts of identifiable acquired assets and assumed liabilities Cash and cash equivalents 51 Property plant and equipment 11 Customer relations 77 Other intangible assets 0 Accounts receivable 107 Inventories 99 Other receivables 56 Other liabilities -181 Deferred tax -20 Total identifiable net assets 200 Non-controlling interests - Goodwill 351
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23 Interim report Q3 2026 The acquisition analysis below summarizes the preliminary purchase price for the acquisitions and the fair value of acquired assets and assumed liabilities reported on the acquisition date. Acquisition-related costs of SEK 2 million are included in other external costs in the consolidated statement of comprehensive income for the 2025 financial year. Total cash flow, excluding acquisition-related costs, attributable to the business combination amounted to SEK 164 million. According to the agreement on conditional purchase price, the Group shall pay a maximum of USD 3.5 million. The fair value of accounts receivable amounts to SEK 23 million. No doubtful accounts receivable were identified at the time of acquisition. Net sales included in the Group's income statement for the 2025 financial year since the acquisition date amounted to SEK 12 million. The acquired companies have contributed an EBITDA of SEK 2 million to the Group since the acquisition date. If the acquired companies had also been included in the Group during the period January 1 to December 31, the Group's net sales for the full year 2025 would have increased by a total of SEK 184 million and EBITDA by SEK 39 million. Note 5. Incentive programs Employee stock option programs active at the time of this publication are: In addition to above warrant programs, there are three ongoing long-term, performance-based incentive plans (LTIP 2024, 2025 and 2026) for 40 senior executives and other key employees in the Group who are resident in Sweden. The participants have bought 295,786 savings shares in total. Under the LTIP, for each acquired Hexatronic share (savings share), participants can receive 2–6 shares in Hexatronic (performance shares) free of charge, assuming achievement of certain performance targets. To qualify for performance shares, participants must acquire and retain a number of Hexatronic shares for the whole of the three-year vesting period and must, with some exceptions, remain in employment during the same period. In addition to the above conditions, performance shares also require certain performance targets to be met, linked to the development of the earnings per share after dilution, the Group’s growth, EBITA margin and certain sustainability targets. The targets relate to the 2024-2028 financial years. Hexatronic has judged that all the above conditions are non-market-related conditions under IFRS 2. Preliminary purchase price as of November 25, 2025 Cash and cash equivalents 208 Liability relating to redeemable minority (put option) 52 Contingent purchase price (not paid) 25 Total purchase price 285 Reported amounts of identifiable acquired assets and assumed liabilities Cash and cash equivalents 44 Property plant and equipment 3 Customer relations 45 Other intangible assets 2 Accounts receivable 23 Other liabilities -19 Deferred tax -9 Total identifiable net assets 89 Non-controlling interests - Goodwill 196 Outstanding warrant programme Number of warrants Corresponding number of shares Proportion of total shares Exercise price Expiration period Warrant programme 2024/2027 330,500 330,500 0.1% 55.30 13 May - 13 Jun 2027 Warrant programme 2025/2028 635,000 635,000 0.3% 34.60 13 May - 13 Jun 2028 Warrant programme 2026/2029 645,000 645,000 0.3% 60.38 13 May - 13 Jun 2029 Total 1,610,500 1,610,500 0.7%
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24 Interim report Q3 2026 Note 6. Items not affecting cash flow Note 7. Liabilities to credit institutions Note 8. Financial liabilities valued at fair value via the income statement 2026 2025 2026 2025 2025 (SEK m) Q3 Q3 Jan-Sep Jan-Sep Full-year Depreciation, amortisation and impairment 116 191 300 398 577 Reversal of impairment -73 - -73 - - Revaluation of incentive programmes 4 3 8 5 7 Work in progress, accrued but not invoiced 0 -24 -26 -38 -7 Change obsolescence reserve inventory 4 41 -18 39 50 Other provisions 17 64 4 55 39 Exchange rate differences 4 -2 5 -1 2 Other 2 0 3 1 5 Total 74 273 203 459 673 SEK m 2025-12-31 Borrow- ings Amortisa- tion of loan Acquis- tions Reclass- ification Change in exchange rate Cost of financing 2026-09-30 Non-current liabilities to credit institutions 2,181 362 - 4 -712 85 0 1,919 Current liabilities to credit institutions 62 - -712 - 712 2 - 64 Total 2,243 362 -712 4 - 87 0 1,984 SEK m 2024-12-31 Borrow- ings Amortisa- tion of loan Acquis- tions Reclass- ification Change in exchange rate Cost of financing 2025-09-30 Non-current liabilities to credit institutions 2,361 8 - - 42 -174 2 2,239 Current liabilities to credit institutions 152 - -42 - -42 -5 - 63 Total 2,513 8 -42 - - -179 2 2,301 Cash flow Items not affecting cash flow Items not affecting cash flowCash flow SEK m 2025-12-31 Acquisi- tion Reclass- ification Translation differences Revaluation 2026-09-30 Additional purchase price / Acquistion option 378 137 - 17 10 379 SEK m 2024-12-31 Acquisiti on Reclass- ification Translation differences Revaluation 2025-09-30 Additional purchase price / Acquistion option 352 4 - -5 -35 307 Items not affecting cash flowCash flow -163 Payment -10 Payment Items not affecting cash flowCash flow
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25 Interim report Q3 2026 Quarterly overview Segment reporting by quarter 2024 2025 2026 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Fiber Solutions Net sales 1,299 1,234 1,230 1,236 1,169 982 1,347 1,414 Adjusted EBITA 135 105 78 66 61 61 122 133 Adjusted EBITA % 10.4% 8.5% 6.4% 5.4% 5.2% 6.2% 9.1% 9.4% EBITDA 195 167 138 24 104 112 175 204 EBITDA % 15.0% 13.5% 11.2% 2.0% 8.9% 11.4% 13.0% 14.5% EBITA 135 105 78 -124 -34 61 122 204 EBITA % 10.4% 8.5% 6.4% -10.0% -2.9% 6.2% 9.1% 14.5% Investments 72 4 16 10 10 9 16 27 Harsh Environment Net sales 296 286 331 314 310 283 361 393 Adjusted EBITA 24 29 40 35 35 24 36 43 Adjusted EBITA % 8.0% 10.3% 12.0% 11.1% 11.4% 8.5% 10.0% 11.0% EBITDA 34 39 49 44 46 34 47 55 EBITDA % 11.4% 13.6% 14.7% 14.2% 14.7% 12.1% 13.1% 14.0% EBITA 24 29 40 33 35 24 36 43 EBITA % 8.0% 10.3% 12.0% 10.4% 11.5% 8.5% 10.0% 11.0% Investments 12 9 9 13 15 10 11 7 Data Center Net sales 233 362 344 334 369 434 538 692 Adjusted EBITA 30 68 72 56 56 73 83 117 Adjusted EBITA % 12.7% 18.8% 20.8% 16.9% 15.3% 16.8% 15.5% 16.9% EBITDA 34 72 76 60 61 78 89 123 EBITDA % 14.7% 20.0% 22.0% 18.0% 16.6% 18.0% 16.5% 17.8% EBITA 30 68 72 56 56 73 83 117 EBITA % 12.7% 18.8% 20.8% 16.7% 15.3% 16.8% 15.5% 16.9% Investments 1 1 4 4 2 3 3 4 Corporate/Elimination Net sales -3 0 0 0 0 -1 -1 -1 Adjusted EBITA -6 -18 -20 -11 -20 -12 -17 -12 Adjusted EBITA % - - - - - - - - EBITDA -6 -17 -19 -20 -20 -12 -17 -12 EBITDA % - - - - - - - - EBITA -6 -18 -20 -21 -21 -12 -17 -12 EBITA % - - - - - - - - Investments 0 0 0 0 0 0 0 1 Total Net sales 1,824 1,882 1,906 1,883 1,848 1,698 2,245 2,498 Adjusted EBITA 182 184 169 146 133 146 224 281 Adjusted EBITA % 10.0% 9.8% 8.9% 7.7% 7.2% 8.6% 10.0% 11.3% EBITDA 258 261 243 109 191 213 294 371 EBITDA % 14.1% 13.9% 12.7% 5.8% 10.3% 12.5% 13.1% 14.9% EBITA 182 184 169 -56 37 146 224 352 EBITA % 10.0% 9.8% 8.9% -3.0% 2.0% 8.6% 10.0% 14.1% Investments 85 14 30 27 27 22 30 38
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26 Interim report Q3 2026 Reconciliation between IFRS and key metrics used In this interim report, Hexatronic presents certain financial parameters that are not defined in IFRS known as alternative key metrics. The Group believes that these parameters provide valuable supplementary information for investors as they facilitate an evaluation of the company’s results and position. Since not all companies calculate financial parameters in the same way these metrics are not always comparable with those used by other companies. Investors should see the financial parameters as a complement to rather than a replacement for financial reporting in accordance with IFRS. 2026 2025 2025 Organic growth, SEK m, % Q3 Q3 Full-year Net sales 2,498 1,883 7,519 Exchange-rate effects -23 122 402 Acquisition driven -263 -24 -128 Comparable net sales 2,212 1,982 7,794 Net sales corresponding period previous year 1,883 1,951 7,581 Organic growth 328 30 213 Organic growth % 17% 2% 3% 2026 2025 2025 Annual growth, rolling 12 months, % Q3 Q3 Full-year Net sales rolling 12 months 8,289 7,495 7,519 Annual growth, rolling 12 months 11% -2% -1% Quick asset ratio, % 2026-09-30 2025-09-30 2025-12-31 Current assets 4 244 3 501 3 277 Inventories -1 536 -1 386 -1 202 Current assets - inventories 2 708 2 115 2 075 Current liabilities 2 055 1 749 1 661 Quick asset ratio 132% 121% 125% Core working capital, SEK m 2026-09-30 2025-09-30 2025-12-31 Inventories 1,536 1,386 1,202 Accounts receivable 1,686 1,275 1,184 Accounts payable -962 -722 -696 Core working capital 2,259 1,938 1,691 Net debt, SEK m 2026-09-30 2025-09-30 2025-12-31 Non-current liabilities to credit institutions 1,919 2,239 2,181 Current liabilities to credit institutions 64 63 62 Cash and cash equivalents -678 -596 -661 Net debt 1,305 1,705 1,582
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27 Interim report Q3 2026 2026 2025 2025 EBITDA and EBITDA (proforma) R12, SEK m Q3 Q3 Full-year Operating profit (EBIT), R12 663 365 226 Amortisation of intangible fixed assets, R12 97 114 108 EBITA, R12 759 479 334 Depreciation of tangible fixed assets, R12 310 391 469 EBITDA, R12 1,069 870 804 EBITDA (proforma), R12 1,113 870 841 Leasing effect (IFRS 16) on EBITDA, R12 -132 -135 -133 EBITDA exclusive IFRS16 (proforma), R12 982 735 707 2026 2025 2025 Leverage Q3 Q3 Full-year Net debt 1,305 1,705 1,582 EBITDA exclusive IFRS16 (proforma), R12 982 735 707 Net debt / EBITDA exclusive IFRS 16 (proforma), R12 1,3 2,3 2,2 2026 2025 2025 Adjusted EBITDA and adjusted EBITA Q3 Q3 Full-year EBITA, R12 759 479 334 Non-recurring items 25 202 298 Adjusted EBITA, R12 784 681 632 EBITDA, R12 1,069 870 804 Non-recurring items 19 115 134 Adjusted EBITDA, R12 1,088 985 937 Acquired EBITDA before closing (R12) 45 - 37 EBITDA (proforma), R12 1,133 985 974 Leasing effect (IFRS 16) on EBITDA, R12 -132 -135 -133 Adjusted EBITDA exclusive IFRS16 (proforma), R12 1,001 850 841 2026 2025 2025 Adjusted leverage Q3 Q3 Full-year Net debt 1,305 1,705 1,582 Adjusted EBITDA exclusive IFRS16 (proforma), R12 1,001 850 841 Net debt / adjusted EBITDA exclusive IFRS 16 (proforma), R12 1.3 2.0 1.9
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28 Interim report Q3 2026 Definition of alternative key metrics Acquisition-driven growth Net sales from acquired businesses during the following twelve months after the acquisition date. Adjusted EBIT Operating profit, revenue minus all costs related to operations, excluding non-recurring items, net financial items and tax. Adjusted EBIT margin Adjusted EBIT as a percentage of net sales. Adjusted EBITA Operating profit, excluding non-recurring items, before amortization of intangible assets. Adjusted EBITA margin Adjusted EBITA as a percentage of net sales. Adjusted EBITDA (pro forma), R12 Operating profit, excluding non-recurring items, before depreciation, amortization, impairment and pro forma adjusted acquired EBITDA (before takeover) for the last twelve months (R12). Adjusted leverage Net debt to adjusted EBITDA pro forma, excluding IFRS16, R12. Annual growth Average annual growth is calculated as the Group's total net sales during the period compared with the corresponding period last year. Average number of outstanding shares Weighted average of the number of outstanding shares during the period. Average number of outstanding shares after dilution Weighted average of the number of shares outstanding during the period plus a weighted number of shares that would be added if all potential shares were converted into shares. Cash conversion Cash flow from operating activities to cash flow from operating activities before changes in working capital. Core-working capital Calculated as inventory plus accounts receivable minus accounts payable. Earnings per share before dilution Profit for the period attributable to parent company shareholders divided by the average number of outstanding shares before dilution. Earnings per share after dilution Profit for the period attributable to parent company shareholders divided by the average number of outstanding shares after dilution. EBITDA Operating profit before amortization and impairment of intangible assets. EBITDA (proforma), R12 Operating profit before depreciation and amortization plus pro forma acquired EBITDA, before closing, for the last twelve months. EBITA Operating profit before amortization of intangible non-current assets. EBITA margin EBITA as a percentage of net sales. EBIT Operating profit. Revenue minus all costs related to operations, but excluding net financial items and income tax. EBIT margin Operating profit as a percentage of net sales. Equity asset ratio Total equity as a percentage of total assets. Equity per share Total equity is divided by the number of shares outstanding. Gross profit Net sales minus costs for raw materials and goods for resale. Gross profit margin Gross profit as a percentage of net sales. Investments (Capex) Acquisitions of tangible and intangible assets. Leverage Net debt to EBITDA (pro forma), excluding IFRS16, R12. Net debt Interest-bearing liabilities, excluding lease liabilities, minus cash and cash equivalents. Non-recurring items Non-recurring items affecting comparable results. Number of employees Number of employees at the end of the period. Number of shares Number of outstanding shares at the end of the period. Organic growth Organic growth is calculated as net sales adjusted for exchange rate effects and acquired businesses in relation to the previous year's net sales adjusted for acquired businesses. Quick asset ratio Calculated as current assets minus inventories divided by current liabilities.
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29 Interim report Q3 2026 This is a translation of the Swedish language original. In the event of any differences between this translation and the Swedish language original, the latter shall prevail. Auditor’s report To the Board of directors in Hexatronic Group AB (publ), corporate identity number 556168 -6360 Introduction We have conducted a limited review of the condensed interim financial information (interim report) for Hexatronic Group AB (publ) as of September 30, 2026, and the nine-month period ending on that date. The board of directors and the managing director are responsible for preparing and presenting 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 limited review. The focus and scope of the limited review We have conducted our limited review in accordance with the International Standard on Review Engagements ISRE 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity." A limited review consists of making inquiries, primarily of persons responsible for financial and accounting matters, performing analytical procedures, and other review procedures. A limited review has a different focus and a significantly smaller scope compared to the focus and scope of an audit conducted in accordance with ISA and generally accepted auditing standards. The review procedures taken in a limited review do not enable us to obtain the assurance that we would become aware of all significant matters that might have been identified in an audit. Therefore, the conclusion expressed based on a limited review does not have the assurance that a conclusion expressed based on an audit has. Conclusion Based on our limited review, nothing has come to our attention that causes us to believe that the interim report is not, in all material respects, prepared for the group in accordance with IAS 34 and the Annual Accounts Act and for the parent company in accordance with the Annual Accounts Act. Gothenburg, date as of our digital signature Öhrlings PricewaterhouseCoopers AB Johan Malmqvist Patrik Resebo Auditor in charge Authorized Public Accountant Authorized Public Accountant
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Presentation Hexatronic will present the interim report at a webcast conference call today, Thursday, October 22, 2026, at 10.00 CEST. CEO Rikard Fröberg, CFO Pernilla Lindén and Head of Investor Relations Patrik Johannesson will participate. Link to the webcast: https://hexatronic-group.events.inderes.com/q3-report- 2026 For registration and participation via the teleconference: https://events.inderes.com/hexatronic-group/q3-report- 2026/dial-in Webcast and presentation materials will be available on the Hexatronic website. Contacts Patrik Johannesson, Head of Investor Relations +46 (0) 73 033 25 18 For more information, please visit https://www.hexatronic.com/en/investors Calendar Feb 4, 2027 Year-end report 2026 Apr 28, 2027 Interim report January – March 2027 May 4, 2027 Annual General Meeting 2027 Jul 15, 2027 Interim report January – June 2027 Oct 27, 2027 Interim report January – September 2027 This information is information that Hexatronic Group 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 October 22, 2026, at 07.00 CEST. Hexatronic Group AB (publ) Corp id. no. 556168-6360 Sofierogatan 3a, S-412 51 Gothenburg, Sweden www.hexatronic.com