Interim report
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Interim report JANUARY – SEPTEMBER 2026
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Q3 2 Inwido AB (publ) | Interim report | January – September 2026 Organic growth in order intake and margin improvement in all business areas January–September 2026 • Net sales increased by 15 percent to SEK 7,528 million (6,562). Organic growth amounted to 2 percent. • Operating EBITA rose to SEK 738 million (643) and the operating EBITA margin amounted to 9.8 percent (9.8) • EBIT increased to SEK 669 million (571) and the EBIT margin increased to 8.9 percent (8.7). • Return on operating capital amounted to 12.0 percent (12.7). • Earnings per share before and after dilution increased to SEK 7.07 (6.00) and SEK 7.05 (5.98), respectively. Third quarter • Net sales increased by 22 percent to SEK 2,724 million (2,224). Organic growth amounted to 5 percent. • Order intake increased organically by 7 percent, with the Project segment growing by 18 percent and the Consumer segment by 1 percent. The order backlog as of September 30 increased to SEK 3,453 million (2,769), the highest level to date. • Operating EBITA increased to SEK 334 million (268), Inwido’s highest quarterly result to date. The operating EBITA margin rose to 12.3 percent (12.0). • EBIT increased to SEK 309 million (241) and the EBIT margin increased to 11.4 percent (10.8). • Earnings per share before and after dilution increased to SEK 3.49 (2.65) and SEK 3.48 (2.65), respectively. • Net debt amounted to a multiple of 1.9 in relation to operating EBITDA excluding IFRS 16. • Nordea Research has upgraded Inwido’s ESG rating from BB to A. This upgrade is one of the largest year-on-year improvements among the companies covered by the analysis. Jul-Sep Jul-Sep Jan-Sep Jan-Sep Last 12 Jan-Dec SEK m (unless otherwise stated) 2026 2025 2026 2025 months 2025 Net sales 2,724 2,224 7,528 6,562 9,968 9,002 Operating EBITA 334 268 738 643 1,036 941 EBIT 309 241 669 571 931 832 Earnings per share before dilution (SEK) 3.49 2.65 7.07 6.00 9.95 8.87 Net sales increase (%) 22 −2 15 2 11 2 Operating EBITA margin (%) 12.3 12.0 9.8 9.8 10.4 10.5 EBIT margin (%) 11.4 10.8 8.9 8.7 9.3 9.2 Return on operating capital (%) 12.0 12.7 12.0 12.7 12.0 12.4 Net debt/ Operating EBITDA, multiple 2.1 1.0 2.1 1.0 2.1 1.7 Net debt/ Operating EBITDA, multiple (excl IFRS 16) 1.9 0.7 1.9 0.7 1.9 1.4 Net debt 2,895 1,272 2,895 1,272 2,895 2,117 Net debt (excl IFRS 16) 2,430 806 2,430 806 2,430 1,634
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Q3 MALMÖ, OCTOBER 21, 2026 Fredrik Meuller, President and CEO 3 Inwido AB (publ) | Interim report | January – September 2026 Organic growth in order intake and margin improve- ment in all business areas The improvement in earnings seen during the second quarter of the year, resulting from stabilized market conditions and internal efficiency improve- ments, continued during the third quarter . All business areas are reporting higher profit margins and organic growth in order intake. In addition, three out of four business areas are reporting organic growth in invoicing. This positive trend was driven primarily by increased demand in the Project mar- ket, improved operational efficiency, effective cost control, and continued disciplined pricing practices. This improvement should be viewed in light of the conflict in the Middle East, which has led to higher costs for input goods, energy, and transportation, as well as continued subdued consumer demand in several of Inwido’s markets. During the third quarter, net sales increased by 22 percent, of which 5 per- cent was organic growth, to SEK 2,724 million (2,224). Operating EBITA rose to SEK 334 million (268), which is Inwido’s highest result to date in a single quarter . The operating EBITA margin rose to 12.3 percent (12.0). The Group’s debt has decreased, while the return on operating capital has increased compared with the previous quarter . The market During the quarter, we are seeing increased volumes in the Project market across all business areas, while consumer demand is varying between the geographic markets. We are still experiencing a historic downturn in the new build industry. We are, however, seeing light at the end of the tunnel, including customers placing greater emphasis on energy efficiency, and our assessment is that the recovery will be gradual over an extended period. In Scandinavia, margins are improving as a result of increased volumes, pricing, and efficiency improvements. Denmark is stable and Sweden is improving, while Norway remains challenging. In the UK, acquisitions are making a positive contribution, and the Project market grew despite high volumes also being reported in the same quarter in the previous year . Busi- ness units focused on the Project market performed well in both the UK and Ireland, while those focused on the Consumer market experienced a more challenging quarter . The market situation in Finland remains challenging, which calls for continued cost control, while the markets in Croatia and Po- land are performing well. Business Area e-Commerce continued to improve its profitability for the fifth consecutive quarter, driven by increased volumes, pricing, and a more cost-effective structure. Our operations The financial results for the third quarter confirm that Inwido’s long-term approach and strategy, focused on profitable growth within a decentralized structure with a local presence, are both successful and sound. We have continued to counter the pressure on margins resulting from the conflict in the Middle East through initiatives in respect of both purchasing and pricing, effective cost control, as well as increased efficiency at our factories. It is gratifying to see improved margins across the entire Inwido Group. I am proud to report that Nordea Research has upgraded Inwido’s ESG rating from BB to A. This upgrade is one of the largest year-on-year improve- ments among the companies covered by the analysis. Nordea highlights our strong momentum across several key performance indicators and underscores progress in all ESG areas, including improved reporting and reduced Scope 2 emissions. A positive outcome of our systematic efforts to improve resource and energy efficiency can also be seen in this quarter’s sustainability results, in particular where the amount of waste is decreasing thanks to increased recycling. Further proof of our unique customer focus within Inwido’s e-Commerce operations is that our Danish brand, SPAR Vinduer, now has more than 10,000 customer reviews on Trustpilot, over 90 percent of which have a rating of 4 or 5 – which is impressive. Acquisitions The acquisitions of Marlex in Croatia and Sovereign Group in the UK, both of which were completed during the second quarter, have been successfully integrated. The acquisition market is continuing to show strong activity. At the same time, it is more challenging to value companies accurately, primarily due to economic uncertainty in some markets and the effects of the conflict in the Middle East. A number of parallel discussions are being conducted in both existing and new markets, as well as in the field of solar shading solutions, and I am cautiously optimistic about further acquisitions in the medium term. Outlook The continued improvements across all of Inwido’s business areas, indications of an economic recovery in certain markets, and the early signs of a tailwind from energy efficiency initiatives, are giving rise to cautious optimism going forward. The outlook is clouded by concerns about rising inflation driven by higher energy prices, which may lead to rising interest rates across Europe. Regardless of market trends, the Group is well-positioned to proactively con- solidate the European window and door market in a profitable manner, thanks to an efficient business model, strong financial position, and a clear strategy. “ Inwidocontinuestoexecuteitsstrategic plananddeliversitsstrongestquarterly resulttodate.”
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4 Inwido AB (publ) | Interim report | January – September 2026 Group Q3 Net sales and order intake During the third quarter, net sales increased by 22 percent, of which 5 percent was organic growth, to SEK 2,724 million ( 2,224). Over the period January-September, net sales rose to SEK 7,528 million (6,562), corresponding to an organic growth of 2 percent. During the third quarter, order intake grew organically by 7 percent, of which the Project segment grew by 18 percent and the Consumer segment by 1 percent. By business area, organic order intake was up 7 percent in Scandinavia, up 10 percent in West, up 4 percent in East and up 6 percent in e-Commerce. The order backlog at the end of the period was 25 percent higher, increasing to SEK 3,453 million, equivalent to an increase of 16 percent adjusted for exchange rates and acquisitions. Compared with the same period last year, the order backlog was 10 percent higher in the Consumer segment and 32 percent higher in the Project segment. Operating EBITA During the third quarter, operating EBITA increased to SEK 334 million (268), Inwido’s highest quarterly result ever . The operating EBITA margin rose to 12.3 percent (12.0). Higher material costs have generally been offset by higher volumes, pricing and improved efficiency at our factories, as well as effective cost control. Financial items In the third quarter, net financial items amounted to negative SEK 30 million (negative 24), while the Group’s net interest amounted to an expense of SEK 25 million (13). Net interest income has been affected by higher indebtedness and higher interest rates compared with the corresponding period in the preceding year . For the period January–September, net financial items amounted to an expense of SEK 93 million (79), while the consolidated net interest expense, excluding IFRS 16, amounted to SEK 70 million (39). Net sales Operating EBITA Jul-Sep 2026 Jul-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 Analysis of net sales % MSEK % MSEK % MSEK % MSEK Net sales 22% 2,724 −2% 2,224 15% 7,528 2% 6,562 Organic growth 5% 100 0% 5 2% 162 4% 257 Structural effects 18% 390 0% 7 14% 899 0% 27 Currency effects 0% 10 −3% −61 −1% −95 −2% −138
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Q3 5 Inwido AB (publ) | Interim report | January – September 2026 Profit before and after tax In the third quarter, profit before tax rose to SEK 279 million (217). Income tax- es amounted to negative SEK 59 million (negative 55) and profit after tax rose to SEK 220 million (162). Over the period January–September, profit before tax rose to SEK 576 million (492). Income taxes amounted to negative SEK 126 million (negative 120) and profit after tax rose to SEK 450 million (371). Earnings per share Earnings per share before and after dilution increased to SEK 3.49 (2.65) and SEK 3.48 (2.65), respectively. Over the period January–September, earnings per share before and after dilution increased to SEK 7.07 (6.00) and SEK 7.05 (5.98), respectively. Items affecting comparability Items affecting comparability that are non-recurring and have a significant im- pact on profit are important in understanding the underlying development of operations. Expenses relate primarily to acquisition-related expenses and restructuring measures during a consolidation phase, in which the com- pany enhances efficiency through, for example, closures or reorganization of production facilities and sales units. These expenses primarily consist of impairment of assets, personnel costs and other external expenses. Items affecting comparability amounted to negative SEK 11 million (negati- ve 16) during the third quarter and pertain mainly to acquisition costs, which amount to SEK 6 million. For the period January–September, items affecting comparability amoun- ted to net negative SEK 27 million (negative 38). Gross investments, depreciation, amortization and impairment Gross investments in tangible non-current assets in the third quarter amoun- ted to SEK 48 million (45). Depreciation and impairment amounted to SEK 113 million (92). For the period January–September, investments in tangible non-current assets amounted to gross SEK 190 million (137). Depreciation and impairment amounted to SEK 331 million (284). Cash flow During the third quarter, cash flow from operating activities after changes in working capital amounted to SEK 305 million (246), primarily as a conse- quence of higher earnings. For the period January–September, the corre- sponding figure was SEK 658 million (476), a result of higher earnings and improved working capital. For the third quarter, cash flow from investing activities amounted to negative SEK 67 million (negative 49). The difference from last year is primarily explained by corporate acquisitions in the quarter . For the period January-September, cash flow from investing activities was negative SEK 584 million (negative 150). The change compared with the previous year is mainly attributable to completed acquisitions and acquisition-related payments. Cash flow from financing activities amounted to negative SEK 140 million (negative 28) in the third quarter . For the period January-September, cash flow from financing activities amounted to negative SEK 99 million (negative 461). The change is mainly due to higher acquisition financing. Return on operating capital Return on operating capital amounted to 12.0 percent (12.7). Financial position and liquidity Inwido’s principal financing consists of bank loans based on bilateral, sustai- nability-related credit agreements expiring in the period 2025–2029. The afo- rementioned credit agreements include financial covenants that are followed up on a quarterly basis. Inwido meets the terms of existing credit agreements. The Group’s net debt at the end of the period amounted to SEK 2,895 million (1,272) and to SEK 2,430 million (806) excluding IFRS 16. At the end of the period, indebtedness, calculated as interest-bearing net debt/operating EBITDA, was 2.1x (1.0) and 1.9x (0.7) excluding IFRS 16. Adjusted for the full- year pro forma results of companies acquired during the year, indebtedness was 1.8x excluding IFRS 16. At the end of the period, consolidated cash and equivalents amounted to SEK 650 million (752). Available funds, including unutilized credit facilities, amounted to SEK 1,925 million (2,221). Acquisitions The acquisition of AJM Group was completed in January. On April 2, the acqui- sition was completed of Sovereign Group, a leading British supplier of uPVC windows and door solutions for public housing with sales of approximately GBP 23 million. On May 7, Marlex, a leading Croatian manufacturer of PVC windows with sales of approximately EUR 33 million to both the consumer and project markets, was acquired. The acquisition was completed at the end of June. Seasonal variations Inwido’s operations are affected by seasonal fluctuations. The smallest period is the first quarter, which normally accounts for about 20 percent of annual sales. The second and third quarters are normally of equal size and combined account for slightly more than 50 percent of annual sales, while the fourth quarter of the year is normally the largest with slightly less than 30 percent of annual sales. The largest seasonal variations are within the Consumer market, although sales to the Project market are also dependent on the season and weather . Employees The number of employees averaged 5,444 (4,492) over the period January– September 2026. Parent Company The Parent Company, Inwido AB (publ), is purely a holding company with no operations of its own. The Parent Company’s profit mainly reflects the net of revenues for joint Group services and deductions for wages, other remunera- tions and interest expenses. Shares and share capital As of September 30, 2026, share capital amounted to SEK 231,890,112 and the number of shares totaled 57,972,528. The company has one (1) class of shares. Each share entitles the holder to one vote at general meetings. At the end of the period, the closing price was SEK 184.20 and the company’s market capita- lization was SEK 10,679 million. The total number of shareholders amounts to approximately 18,000. Incentive program Inwido has long-term incentive programs for senior executives in the form of warrants and a performance-based LTI bonus. The maximum dilutive effect of the warrant programs amounts to approximately 0.3 percent. The LTI bonus is based on the performance of earnings per share over a three-year period and requires investment in, as well as holding of, Inwido shares. For further information, please refer to 2025 Annual Report. Pledged assets and contingent liabilities No significant changes in pledged assets or contingent liabilities occurred during the period. Outlook The continued improvements across all of Inwido’s business areas, indications of an economic recovery in certain markets, and the early signs of a tailwind from energy efficiency initiatives, are giving rise to cautious optimism going forward. The outlook is clouded by concerns about rising inflation driven by higher energy prices, which may lead to rising interest rates across Europe. Regardless of market trends, the Group is well-positioned to proactively conso- lidate the European window and door market in a profitable manner, thanks to an efficient business model, strong financial position, and a clear strategy.
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6 Inwido AB (publ) | Interim report | January – September 2026 Inwido’s sustainability work Q2Q3 Aug 2026 Aug 2025 Jan-Dec Last 12 months Last 12 months Change 2025 Resource efficiency Target per year Energy usage (kWh/window wing) 48.6 49.0 −1% 47.1 −5% Waste (kg/window wing) 2.86 3.57 −20% 3.64 −5% Hazardous waste (kg/window wing) 0.19 0.25 −26% 0.26 −5% Greenhouse gas (GHG) emissions 2025 outcome vs. base year Target 2022-2030 Scope 1 and Scope 2 (tonnes) −15% 6,278 −42% Of which Scope 1, direct emissions (tonnes) 4,794 Of which Scope 2, indirect emissions from energy (tonnes) 1,484 Scope 3, other indirect emissions (tonnes) −21% 364,008 −25% Social indicators Target Sick leave, long- and short-term (%) 4.4 4.8 4.6 <3 Accidents with lost working days/million hours worked 9.7 8.7 9.1 0.0 Equality in management, Board of Directors, women (%) 40 50 Equality in management, Group Management, women (%) 38 50 EU Taxonomy Target 2030 EU Taxonomy criteria, fully aligned (%) 15 - EU Taxonomy criteria (%) 63 75 1. Window wings refer to a window or door where the design of the product determines the quantity. An opening in the building envelope can therefore have more than one window wing. Examples of this include double doors, sliding sections, and windows with one fixed pane and one that opens. 2. Market-based emissions. Sustainability indicators 1 1 1 2 EU Taxonomy Inwido’s products are covered by the EU Taxonomy categories ma- nufacturing and installation of energy-efficient equipment. Energy efficiency is measured by the U-value – the lower, the better – and to be considered sustainable, windows must have a U-value of ≤1.0 and doors ≤1.2 W/m²K. Energy-efficient windows and doors are a key component in achieving Europe’s climate goals. Consequently, Inwido’s target is for at least 75% of its relevant sales to meet the taxonomy’s energy efficiency criteria, to make a significant contribution to climate change mitigation by 2030. The products, which meet the requirements for full alignment, also meet the requirements regarding do no significant harm and the minimum safeguards. Science Based Targets Inwido works with science-based climate targets in line with the Paris Agreement’s goal of limiting global warming to no more than 1.5°C. Our climate-related emissions are calculated using the Science Based Targets initiative’s methodology. The ambition is to reduce absolute greenhouse gas emissions from Scope 1 and 2 by 42 percent by 2030 compared to the base year 2022, and to reduce absolute greenhouse gas emissions from Scope 3 by 25 percent over the same period. In addition, Inwido has committed to achieving net-zero greenhouse gas emissions in Scopes 1, 2, and 3 by 2050. native working arrangements are key to a better and faster recovery. • The accident rate has increased over the past year, but a positive trend is once again evident in Q3 of 2026, with fewer than 10 accidents per million hours worked. Efforts are continuing to prevent accidents and further raise safety awareness. • During the quarter, a serious accident resulting in a fatality occurred in connection with the loading/un- loading of goods at one of the Group’s business units in Sweden. The incident has been reported to the relevant authorities, and an investigation is underway. Our thoughts are with the family and colleagues. June–August 2026 • Nordea Research has upgraded Inwido’s ESG rating from BB to A. This upgrade is one of the largest year- on-year improvements among companies covered by the analysis. • Inwido’s systematic efforts to improve resource and energy efficiency are continuing to yield results in our business units. This development is also being bolstered by the integration of Victorian Sliders, whose operations include recycling, which helps reduce waste volumes. • Sick leave is demonstrating a positive trend, with both long-term and short-term absences declining. A close dialogue with employees and discussions about alter- The sustainability work described on pages 6–7 has not been subject to a limited review by Inwido’s auditor.
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Q3 7 Inwido AB (publ) | Interim report | January – September 2026 Sustainability compass shows the way With responsibly produced and energy- efficient products, people can create a sustainable lifestyle, both at home and at work. In accordance with the Group’s sustainability compass, Inwido follows three strategic guidelines. Assessments and ratings MSCI ESG RATING AA B Climate change B- Forests A- Supplier Engagement Assessment (SEA) ESG RISK RATING 26, medium risk Trust and leadership index of 77 percent by 2025. Response rate: 92 percent Be an environmental friend Be a good place to work Be a responsible business CASE Outline Vinduer – Winner of Inwido’s Sustainability Award Outline Vinduer has been awarded Inwido’s 2026 Sustainability Award. The award was presented at the annual Group conference in Septem- ber. Outline has received the award due to its ability to combine strong financial performance with consistent and successful sustainability efforts, which have become a natural part of both its operations and business. We can see evidence of this not only in the exceptional results achieved in the Great Place to Work employee satisfaction survey, but also in the business unit’s strong performance in critical sustainability KPIs, where Outline consistently outperforms the Group average. Peter Sejling (to the right in the photo) received the award from Fredrik Meuller and Annika Hansson. Elitfönster – Winner of the 2026 Swedish Aluminum Award This award is handed out annually by the organization Svenskt Aluminium and was presented to Elitfönster during the Aluminum Days in September 2026. The company received the award for its long-standing efforts to suc- cessfully utilize aluminum and for developing a more circular value chain in which production waste is recycled to make new profiles. Johan Åström and Tommy Freijd (to the left in the photo) accepted the award on behalf of Elitfönster .
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8 Inwido AB (publ) | Interim report | January – September 2026 Inwido’s operations and segments Q3 8 External net sales by operating segment LTM 100% = SEK 9,968 million External net sales by market segment LTM 100% = SEK 9,968 million Inwido improves people’s well-being indoors with windows and doors. As one of Europe’s leading window groups, Inwido’s business concept is to develop and sell the market’s best customized window and door solutions, through a decentralized structure and with a focus on the consumer-driven market, in order to create long-term sustainable growth, organically and through acquisitions. Inwido comprises 37 business units with approximately 5,500 employees in 19 countries. The business is divided into four business areas: Scandinavia, West, East, and e-Commerce. In 2025, the Group achieved sales of SEK 9 billion with an operating EBITA margin of 10.5 percent. Inwido has been listed on the Nasdaq Stockholm exchange since 2014. We have operations in 19 countries Manufacturing and/or sales operations are located in Sweden, Denmark, Norway, Finland, Estonia, the United Kingdom, Ireland, Lithuania, the Netherlands, Belgium, Poland, Romania, Slovenia, Croatia, Germany, the Czech Republic, Switzerland, Austria, and China (not shown on the map). The head office is located in Malmö, Sweden.
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Q3 9 Inwido AB (publ) | Interim report | January – September 2026 Scandinavia – Improved margin driven by sales growth and cost efficiency During the quarter, net sales increased by 6 percent to SEK 1,126 million (1,065), up 3 percent organically. Organic order intake increased by 7 percent over the quarter . At the end of the period, the order backlog was 15 percent higher than at the end of the corresponding period in the preceding year . In the third quarter, operating EBITA increased to SEK 187 million (163), and the operating EBITA margin increased to 16.6 percent (15.3). Material costs continued to rise during the third quarter, but these increases were offset by implemented price increases, volume growth, and a continued focus on improved cost efficiency. Order intake increased in all Scandinavian markets in both the Consumer and Project segments, with the strongest increa- se being recorded in the Project segment. Villaeffekten, a government grant for energy-efficiency improvements to single-family homes, including window replacement, was introduced in Sweden in September . The grant covers measures implemented from 1 January 2026 and is funded through 2030, subject to available funding. 71% 27% 1% Consumer Project Other External net sales by market segment, LTM 100% = SEK 4,397 million Jul-Sep Jul-Sep Jan-Sep Jan-Sep Last 12 Jan-Dec SEKm 2026 2025 Change 2026 2025 Change months 2025 Net sales 1,126 1,065 6% 3,282 3,160 4% 4,552 4,430 Operating gross profit 317 290 10% 845 817 3% 1,185 1,157 Operating gross profit margin (%) 28.2 27.2 25.8 25.9 26.0 26.1 Operating EBITA 187 163 14% 427 411 4% 636 620 Operating EBITA margin (%) 16.6 15.3 13.0 13.0 14.0 14.0 – Positive growth in the Project market, while the Consumer market remains challenging Net sales increased by 56 percent during the third quarter, to SEK 701 million (450), up 8 percent organically. Organic order intake increased by 10 percent over the quarter . The Project market in Scotland and Ireland continued to grow, while the Consumer market reported a decline. At the end of the period, the order backlog was 36 percent higher than at the end of the corresponding period in the preceding year . In the third quarter, operating EBITA increased to SEK 82 million (52), and the operating EBITA margin increased to 11.7 percent (11.5). The acquisitions of Fast Frame, Victorian Sliders, and Sovereign Group made posi- tive contributions to developments during the quarter . The business units focused on the Project market performed well in both the UK and Ireland, while those focused on the Consumer market continued to face challenges in the form of lower volumes. 42% 58% 0% Consumer Project Other External net sales by market segment, LTM 100% = SEK 2,343 million West Jul-Sep Jul-Sep Jan-Sep Jan-Sep Last 12 Jan-Dec SEKm 2026 2025 Change 2026 2025 Change months 2025 Net sales 701 450 56% 1,891 1,321 43% 2,344 1,774 Operating gross profit 164 95 73% 441 272 62% 540 372 Operating gross profit margin (%) 23.4 21.0 23.3 20.6 23.1 20.9 Operating EBITA 82 52 59% 216 143 51% 269 196 Operating EBITA margin (%) 11.7 11.5 11.4 10.8 11.5 11.0
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Q3 10 Inwido AB (publ) | Interim report | January – September 2026 e-Commerce – Continued margin improvement for the fifth consecutive quarter Net sales increased by 14 percent during the third quarter, to SEK 300 million (263), up 15 percent organically. Organic order intake increased by 6 percent over the quarter . At the end of the period, the order backlog was 2 percent lower than at the end of the corresponding period last year . In the third quarter, operating EBITA increased to SEK 30 million (23), and the operating EBITA margin increased to 10.0 percent (8.6). The increase in material costs has primarily been offset by volumes as well as by higher sales prices. An increased focus on profitability over growth has strengthened margins in recent quarters, and the operating EBITA margin now stands at just under 11 percent on a rolling 12-month basis. 100% 0% Consumer Project Other External net sales by market segment, LTM 100% = SEK 1,058 million Jul-Sep Jul-Sep Jan-Sep Jan-Sep Last 12 Jan-Dec SEKm 2026 2025 Change 2026 2025 Change months 2025 Net sales 300 263 14% 848 804 5% 1,115 1,071 Operating gross profit 85 75 13% 247 220 12% 328 302 Operating gross profit margin (%) 28.3 28.6 29.1 27.4 29.5 28.2 Operating EBITA 30 23 33% 84 55 54% 120 90 Operating EBITA margin (%) 10.0 8.6 10.0 6.8 10.8 8.4 East – Increased organic order intake in a market that remains challenging Net sales increased by 31 percent during the third quarter, to SEK 607 million (463), driven by acquisitions. Organically, net sales decreased by 3 percent. Organic order intake increased by 4 percent over the quarter . At the end of the peri- od, the order backlog was 13 percent higher than at the end of the corresponding period in the preceding year . In the third quarter, operating EBITA amounted to SEK 43 million (33) and the operating EBITA margin increased to 7.1 percent (7.0). The Consumer market in Finland remained challenging, while the Project market showed some positive signs during the quarter, driven by an increase in organic order intake. The lower volumes in the Finnish business units, combined with rising material costs, were offset by implemented price increases and a continued focus on improved cost efficiency. The higher material costs also affected operations in Poland, Slovenia, and Croatia, and measures aimed at offsetting the cost increases continued during the quarter . 33% 64% 3% Consumer Project Other External net sales by market segment, LTM 100% = SEK 1,967 million Jul-Sep Jul-Sep Jan-Sep Jan-Sep Last 12 Jan-Dec SEKm 2026 2025 Change 2026 2025 Change months 2025 Net sales 607 463 31% 1,511 1,286 18% 1,968 1,743 Operating gross profit 126 108 16% 292 293 0% 388 389 Operating gross profit margin (%) 20.8 23.4 19.3 22.8 19.7 22.3 Operating EBITA 43 33 31% 46 55 −16% 65 74 Operating EBITA margin (%) 7.1 7.0 3.0 4.3 3.3 4.2
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Q3 11 Inwido AB (publ) | Interim report | January – September 2026 Key ratios, Group Jul-Sep Jul-Sep Jan-Sep Jan-Sep Last 12 Jan-Dec SEKm (unless otherwise stated) 2026 2025 2026 2025 months 2025 Income measures Net sales 2,724 2,224 7,528 6,562 9,968 9,002 Gross profit 708 575 1,870 1,632 2,498 2,261 EBITDA 423 334 1,000 857 1,358 1,215 Operating EBITDA 434 350 1,028 895 1,411 1,278 EBITA 323 252 711 605 983 877 Operating EBITA 334 268 738 643 1,036 941 Operating profit (EBIT) 309 241 669 571 931 832 Margin measures Gross margin (%) 26.0 25.9 24.8 24.9 25.1 25.1 EBITDA margin (%) 15.5 15.0 13.3 13.1 13.6 13.5 Operating EBITDA margin (%) 15.9 15.7 13.7 13.6 14.2 14.2 EBITA margin (%) 11.9 11.3 9.4 9.2 9.9 9.7 Operating EBITA margin (%) 12.3 12.0 9.8 9.8 10.4 10.5 Operating margin (EBIT) (%) 11.4 10.8 8.9 8.7 9.3 9.2 Capital structure Net debt 2,895 1,272 2,895 1,272 2,895 2,117 Net debt (excl IFRS 16) 2,430 806 2,430 806 2,430 1,634 Net debt/operating EBITDA, multiple 2.1 1.0 2.1 1.0 2.1 1.7 Net debt/operating EBITDA, multiple (excl IFRS 16) 1.9 0.7 1.9 0.7 1.9 1.4 Net debt/equity ratio, multiple 0.5 0.2 0.5 0.2 0.5 0.4 Interest coverage ratio, multiple 8.8 8.9 6.3 6.1 6.8 6.7 Shareholders’ equity 5,749 5,533 5,749 5,533 5,749 5,505 Equity/assets ratio (%) 47 55 47 55 47 52 Operating capital 8,644 6,805 8,644 6,805 8,644 7,622 Return measures Return on shareholders’ equity (%) 10.4 9.7 10.4 9.7 10.4 9.4 Return on operating capital (%) 12.0 12.7 12.0 12.7 12.0 12.4 Share data (number of shares in thousands) Earnings per share before dilution (SEK) 3.49 2.65 7.07 6.00 9.95 8.87 Earnings per share after dilution (SEK) 3.48 2.65 7.05 5.98 9.92 8.85 Shareholders’ equity per share before dilution (SEK) 99.17 95.43 99.17 95.43 99.17 94.94 Shareholders’ equity per share after dilution (SEK) 98.89 95.16 98.89 95.16 98.89 94.78 Cash flow per share before dilution (SEK) 5.26 4.25 11.35 8.21 18.81 15.67 Cash flow per share after dilution (SEK) 5.24 4.24 11.32 8.19 18.76 15.64 Number of shares before dilution 57,973 57,973 57,973 57,973 57,973 57,973 Number of shares after dilution 58,138 58,138 58,138 58,138 58,138 58,076 Average number of shares 57,973 57,973 57,973 57,973 57,973 57,973
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Q3 12 Inwido AB (publ) | Interim report | January – September 2026 Key ratios Net sales per segment Quarterly review, Group SEKm (unless otherwise stated) Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Net sales 2,724 2,721 2,083 2,440 2,224 2,339 1,999 2,423 2,273 Operating EBITA 334 314 90 298 268 264 111 296 304 Operating EBITA margin (%) 12.3 11.5 4.3 12.2 12.0 11.3 5.5 12.2 13.4 EBITA 323 303 85 273 252 249 104 273 300 EBITA margin (%) 11.9 11.1 4.1 11.2 11.3 10.6 5.2 11.3 13.2 Return on operating capital (%) 12.0 11.8 11.7 12.4 12.7 13.4 13.2 12.7 13.1 Earnings per share before dilution (SEK) 3.49 3.40 0.18 2.87 2.65 2.69 0.65 3.17 3.23 Earnings per share after dilution (SEK) 3.48 3.40 0.18 2.87 2.65 2.68 0.65 3.16 3.22 Shareholders’ equity per share before dilution (SEK) 99.17 94.47 95.66 94.94 95.43 92.72 93.65 97.46 91.49 Shareholders’ equity per share after dilution (SEK) 98.89 94.47 95.66 94.78 95.16 92.30 93.22 97.17 91.22 Cash flow per share before dilution (SEK) 5.26 8.89 −2.80 7.46 4.25 6.46 −2.50 8.26 5.73 Cash flow per share after dilution (SEK) 5.24 8.89 −2.80 7.44 4.24 6.43 −2.49 8.23 5.72 Share price (SEK) 184.20 143.90 147.70 164.20 178.00 210.20 201.20 185.50 187.90 SEKm Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Scandinavia 1,126 1,256 900 1,270 1,065 1,168 927 1,196 1,014 West 701 659 532 452 450 433 438 470 506 East 607 510 394 457 463 443 379 491 473 e-Commerce 300 298 250 267 263 289 252 270 286 Group-wide, eliminations and other −10 −2 7 −6 −17 5 2 −4 −6 Total 2,724 2,721 2,083 2,440 2,224 2,339 1,999 2,423 2,273
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Q3 13 Inwido AB (publ) | Interim report | January – September 2026 Key data for the segments Jul-Sep Jul-Sep Jan-Sep Jan-Sep Last 12 Jan-Dec SEKm 2026 2025 Change 2026 2025 Change months 2025 Group Net sales 2,724 2,224 22% 7,528 6,562 15% 9,968 9,002 Operating gross profit 708 581 22% 1,873 1,644 14% 2,501 2,273 Operating gross profit margin (%) 26.0 26.1 24.9 25.1 25.1 25.2 Operating EBITA 334 268 25% 738 643 15% 1,036 941 Operating EBITA margin (%) 12.3 12.0 9.8 9.8 10.4 10.5 Scandinavia Net sales 1,126 1,065 6% 3,282 3,160 4% 4,552 4,430 Operating gross profit 317 290 10% 845 817 3% 1,185 1,157 Operating gross profit margin (%) 28.2 27.2 25.8 25.9 26.0 26.1 Operating EBITA 187 163 14% 427 411 4% 636 620 Operating EBITA margin (%) 16.6 15.3 13.0 13.0 14.0 14.0 West Net sales 701 450 56% 1,891 1,321 43% 2,344 1,774 Operating gross profit 164 95 73% 441 272 62% 540 372 Operating gross profit margin (%) 23.4 21.0 23.3 20.6 23.1 20.9 Operating EBITA 82 52 59% 216 143 51% 269 196 Operating EBITA margin (%) 11.7 11.5 11.4 10.8 11.5 11.0 East Net sales 607 463 31% 1,511 1,286 18% 1,968 1,743 Operating gross profit 126 108 16% 292 293 0% 388 389 Operating gross profit margin (%) 20.8 23.4 19.3 22.8 19.7 22.3 Operating EBITA 43 33 31% 46 55 −16% 65 74 Operating EBITA margin (%) 7.1 7.0 3.0 4.3 3.3 4.2 e-Commerce Net sales 300 263 14% 848 804 5% 1,115 1,071 Operating gross profit 85 75 13% 247 220 12% 328 302 Operating gross profit margin (%) 28.3 28.6 29.1 27.4 29.5 28.2 Operating EBITA 30 23 33% 84 55 54% 120 90 Operating EBITA margin (%) 10.0 8.6 10.0 6.8 10.8 8.4 Group-wide eliminations and other Net sales −10 −17 42% −4 −9 57% −10 −16 Operating gross profit 12 10 24% 36 33 7% 43 41 Operating gross profit margin (%) - - - - - - Operating EBITA −13 −8 −69% −50 −33 −50% −73 −56 Operating EBITA margin (%) - - - - - - IFRS 16 effect Net sales - - - - - - - - Operating gross profit 4 4 8% 12 9 30% 15 13 Operating gross profit margin (%) - - - - - - Operating EBITA 5 5 −2% 15 13 20% 20 17 Operating EBITA margin (%) - - - - - -
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Q3 14 Inwido AB (publ) | Interim report | January – September 2026 Summary consolidated statement of comprehensive income Jul-Sep Jul-Sep Jan-Sep Jan-Sep Last 12 Jan-Dec SEKm 2026 2025 2026 2025 months 2025 Net sales 2,724.0 2,223.8 7,527.8 6,561.6 9,968.1 9,002.0 Cost of goods sold −2,016.0 −1,648.7 −5,657.5 −4,929.3 −7,469.6 −6,741.4 Gross profit/loss 708.0 575.1 1,870.3 1,632.3 2,498.5 2,260.6 Other operating income 4.7 2.8 11.7 11.0 16.0 15.0 Selling expenses −191.0 −167.4 −579.4 −556.8 −758.8 −736.2 Administrative expenses −191.5 −149.5 −582.7 −467.3 −743.4 −628.1 R&D expenses −7.4 −7.7 −25.6 −26.5 −35.3 −36.2 Other operating expenses −13.3 −12.6 −25.8 −23.7 −47.3 −44.9 Participations in the earnings of associated companies −0.3 0.1 0.7 1.6 1.2 2.1 Operating profit (EBIT) 309.2 240.8 669.2 570.6 930.7 832.0 Financial income 5.7 3.7 15.7 17.6 21.5 23.4 Financial expenses −35.7 −27.5 −108.8 −96.6 −140.6 −128.5 Financial items −30.0 −23.9 −93.1 −79.0 −119.2 −105.0 Earnings before tax 279.2 216.9 576.1 491.6 811.5 727.0 Tax −58.7 −55.1 −126.2 −120.2 −179.8 −173.8 Profit after tax 220.5 161.9 449.9 371.3 631.7 553.2 Other comprehensive income Items reallocated to, or that can be reallocated to profit for the year Translation differences, foreign operations 127.7 −44.9 277.3 −197.3 181.2 −293.4 Total profit after tax 348.2 117.0 727.2 174.0 813.1 259.9 Profit after tax attributable to Parent Company shareholders 202.6 153.8 410.1 347.6 576.7 514.2 Non-controlling interest 17.9 8.1 39.8 23.7 55.2 39.1 Comprehensive income for the year attributable to Parent Company shareholders 331.1 108.0 687.4 149.9 757.5 219.9 Non-controlling interest 17.1 9.0 39.8 24.1 55.6 40.0 Average number of shares, before dilution 57,972,528 57,972,528 57,972,528 57,972,528 57,972,528 57,972,528 Average number of shares, after dilution 58,138,028 58,138,028 58,138,028 58,138,028 58,138,028 58,076,028 Number of shares, before dilution 57,972,528 57,972,528 57,972,528 57,972,528 57,972,528 57,972,528 Number of shares, after dilution 58,138,028 58,138,028 58,138,028 58,138,028 58,138,028 58,076,028 Earnings per share, before dilution (SEK) 3.49 2.65 7.07 6.00 9.95 8.87 Earnings per share, after dilution (SEK) 3.48 2.65 7.05 5.98 9.92 8.85
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Q3 15 Inwido AB (publ) | Interim report | January – September 2026 Summary consolidated statement of financial position Sep Sep Dec SEKm 2026 2025 2025 ASSETS Intangible assets 6,766.1 5,438.2 6,153.6 Tangible assets 2,338.7 1,845.4 2,092.2 Participations in associated companies 18.5 17.2 17.7 Financial assets 2.9 2.8 2.8 Deferred tax assets 67.7 65.7 60.0 Other non-current assets 89.0 53.4 66.0 Total non-current assets 9,282.9 7,422.8 8,392.3 Inventories 870.5 623.3 629.9 Trade receivables 968.2 888.3 579.2 Other receivables 546.2 357.7 343.9 Cash and equivalents 650.4 752.3 642.9 Total current assets 3,035.3 2,621.7 2,195.9 TOTAL ASSETS 12,318.2 10,044.5 10,588.2 EQUITY AND LIABILITIES Share capital 231.9 231.9 231.9 Other capital provided 950.8 950.8 950.8 Other reserves 586.3 405.5 308.9 Profit brought forward including profit for the year 3,980.0 3,944.0 4,012.6 Shareholders´equity attributable to Parent Company shareholders 5,749.0 5,532.2 5,504.2 Non-controlling interest 0.3 0.3 0.4 Total equity 5,749.3 5,532.5 5,504.6 Interest-bearing liabilities 2,491.4 1,595.7 2,295.4 Leasing liabilities 347.2 352.5 364.1 Deferred tax liabilities 298.0 202.9 271.3 Non-interest-bearing liabilities 39.9 1.2 0.3 Total non-current liabilities 3,176.5 2,152.3 2,931.1 Interest-bearing liabilities 612.5 0.7 9.2 Leasing liabilities 134.5 115.0 130.3 Non-interest-bearing provisions 39.4 36.3 36.0 Non-interest-bearing liabilities 2,606.0 2,207.7 1,976.9 Total current liabilities 3,392.5 2,359.7 2,152.5 TOTAL EQUITY AND LIABILITIES 12,318.2 10,044.5 10,588.2
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Q3 16 Inwido AB (publ) | Interim report | January – September 2026 Summary consolidated statement of changes in equity Shareholders’ equity attributable to Parent Company shareholders SEKm Share capital Other capital contribu- tion Translation reserve Profit brought forward Total Non-con- trolling interest Total sha- reholders’ equity Equity, opening balance Jan. 1, 2025 231.9 950.1 603.2 3,864.1 5,649.3 0.2 5,649.5 Comprehensiveincomefortheyear Profit for the year 347.6 347.6 23.7 371.3 Other comprehensive income for the year −197.7 - −197.7 0.4 −197.3 Comprehensive income for the year −197.7 347.6 149.9 24.1 174.0 TransactionswiththeGroup’sowners New share issue 0.0 0.8 - - 0.8 - 0.8 Dividends paid to Parent Company shareholders - - -318.8 -318.8 - -318.8 Acquisition/divestment of participation in non-controlling interests - - 24.1 24.1 -24.1 -0.0 Issued and reassessed put option - - 27.1 27.1 - 27.1 Total transactions with the Group’s owners −267.7 −266.9 -24.1 −291.0 Equity, closing balance Sep. 30, 2025 231.9 950.8 405.5 3,944.0 5,532.2 0.3 5,532.5 Equity, opening balance Jan. 1, 2026 231.9 950.8 308.9 4,012.6 5,504.2 0.4 5,504.6 Comprehensiveincomefortheyear Profitfortheyear 410.1 410.1 39.8 449.9 Other comprehensive income for the year 277.3 - 277.3 -0.0 277.3 Comprehensive income for the year 277.3 410.1 687.4 39.8 727.2 TransactionswiththeGroup’sowners Dividends paid to Parent Company shareholders -318.8 -318.8 - -318.8 Dividends paid to participation in non-controlling interests - - -0.1 -0.1 Acquisition/divestment of participation in non-controlling interests 124.5 124.5 -39.7 84.9 Issued and reassessed put option -254.4 -254.4 - -254.4 Share-based remuneration (LTI) 6.1 6.1 - 6.1 Total transactions with the Group’s owners −442.6 −442.6 −39.8 −482.4 Equity, closing balance Sep. 30, 2026 231.9 950.8 586.3 3,980.0 5,749.0 0.3 5,749.3
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Q3 17 Inwido AB (publ) | Interim report | January – September 2026 Summary consolidated cash flow statement Jul-Sep Jul-Sep Jan-Sep Jan-Sep Last 12 Jan-Dec SEKm 2026 2025 2026 2025 months 2025 Operating activities Earnings before tax 279.1 216.9 576.1 491.6 811.7 727.2 Depreciation/amortization and impairment of assets 113.5 91.5 331.3 284.1 430.5 383.3 Adjustment for items not included in cash flow −0.2 0.3 −1.9 1.9 1.9 5.6 Income tax paid −18.2 −58.4 −86.4 −106.1 −165.5 −185.2 Cash flow from operating activities before changes in working capital 374.2 250.3 819.1 671.5 1,078.5 930.9 Cash flow from changes in working capital Increase(-)/decrease(+) in inventories −10.4 −7.1 −157.1 −53.0 −184.8 −80.8 Increase(-)/decrease(+) in operating receivables 19.5 11.0 −234.0 −379.4 151.3 5.9 Increase(-)/decrease(+) in operating liabilities −78.4 −7.8 230.0 236.8 45.4 52.3 Cash flow from operating activities 304.9 246.5 658.0 475.9 1,090.4 908.3 Investing activities Acquisitions of tangible non-current assets -48.5 -44.6 -189.6 -137.4 -302.7 -250.6 Divestments of tangible non-current assets 1.5 -0.3 2.8 2.1 3.7 3.0 Acquisitions of intangible assets -4.2 -3.7 -16.7 -14.1 -21.9 -19.3 Acquisition of subsidiary companies/businesses -17.3 -0.0 -383.1 -0.0 -1,266.2 -883.2 Change in financial assets 1.6 -0.1 2.1 -0.0 0.8 -1.3 Cash flow from investing activities -66.9 -48.6 -584.4 -149.5 -1,586.3 -1,151.4 Financing activities Share issue - 0.8 - 0.8 - 0.8 Dividend paid to participation in non-controlling interests - - -0.1 - -0.1 - Dividends paid to Parent Company shareholders - - -318.8 -318.8 -318.8 -318.8 Change in acquisition-related liabilities - -52.0 - -52.0 0.5 -51.5 Change in interest-bearing liabilities -139.9 23.1 220.3 -91.2 698.9 387.4 Cash flow from financing activities -139.9 -28.1 -98.7 -461.3 380.5 17.9 Cash flow for the year 98.0 169.7 -25.1 -134.9 -115.4 -225.2 Cash and cash equivalents at the start of the period 489.0 589.5 642.9 935.4 752.3 935.4 Exchange rate difference in cash and equivalents 63.4 -6.9 32.5 -48.2 13.5 -67.2 Cash and cash equivalents at the end of the period 650.4 752.3 650.4 752.3 650.4 642.9
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Q3 18 Inwido AB (publ) | Interim report | January – September 2026 Summary income statement, Parent Company Jul-Sep Jul-Sep Jan-Sep Jan-Sep Last 12 Jan-Dec SEKm 2026 2025 2026 2025 months 2025 Net sales 23.7 23.2 53.6 68.2 57.3 71.9 Gross profit 23.7 23.2 53.6 68.2 57.3 71.9 Administrative expenses -18.8 -14.4 -66.9 -52.6 -91.0 -76.7 Other operating expenses -6.3 -9.7 -11.3 -18.5 -17.6 -24.7 Operating profit (EBIT) -1.3 -0.8 -24.6 -2.9 -51.3 -29.6 Resultfromfinancialitems: Profit/loss from participations in Group companies - 0.0 363.6 367.3 396.5 400.1 Interest income and similiar profit/loss items 53.6 15.7 140.3 56.4 156.8 75.4 Interest expense and similiar profit/loss items -28.1 -19.7 -85.9 -73.0 -109.8 -99.4 Profit after financial items 24.2 -4.8 393.4 347.7 392.2 346.6 Group contributions - - - - 58.3 58.3 Earnings before tax 24.2 -4.8 393.4 347.7 450.5 404.9 Tax -6.0 0.8 -7.8 3.5 -16.1 -4.8 Profit after tax 18.1 -4.0 385.6 351.3 434.4 400.1
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Q3 19 Inwido AB (publ) | Interim report | January – September 2026 Summary balance sheet, Parent Company Sep Sep Dec SEKm 2026 2025 2025 ASSETS Tangible non-current assets 0.5 0.7 0.6 Shares in Group companies 3,298.1 3,134.8 3,134.8 Participations in associated companies - - - Receivables from Group companies 1,921.6 689.1 1,770.9 Deferred tax assets 4.9 5.8 5.8 Other receivables 5.0 0.4 0.9 Total non-current assets 5,230.0 3,830.9 4,913.0 Receivables from Group companies 0.6 0.5 76.8 Prepaid expenses and accrued income 7.4 6.1 2.8 Other receivables 54.7 93.5 4.1 Cash and equivalents 120.8 538.6 290.6 Total current assets 183.4 638.7 374.3 TOTAL ASSETS 5,413.5 4,469.6 5,287.4 SHAREHOLDERS’ EQUITY AND LIABILITIES Equity 2,465.1 2,342.4 2,394.4 Total shareholders’ equity 2,465.1 2,342.4 2,394.4 Liabilities to Group companies 727.7 873.4 1,059.7 Interest-bearing liabilities 2,172.2 1,208.1 1,795.0 Deferred tax liabilities 1.0 0.1 0.2 Other liabilities 4.7 5.5 5.5 Total non-current liabilities 2,905.6 2,087.0 2,860.4 Liabilities to Group companies 0.2 0.2 0.5 Non-interest-bearing liabilities 42.5 40.0 32.1 Total current liabilities 42.7 40.2 32.6 TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 5,413.5 4,469.6 5,287.4
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Q3 20 Inwido AB (publ) | Interim report | January – September 2026 Notes NOTE 1 Accounting principles This summary consolidated interim report has been prepared in accordance with IAS 34 Interim Financial Reporting and applicable provisions in the Annual Ac- counts Act. The interim report for the Parent Company has been prepared in accordance with the Annual Accounts Act, Chapter 9, Interim Financial Reporting. The Group applies the International Financial Reporting Standards (IFRS) as well as interpretations from the IFRS Interpretations Committee, as adopted by the EU. The Group applies the same accounting principles and valuation methods as in the most recent annual report. Inwido considers that no other new and amended standards approved by the EU, as well as interpretation statements from the IFRS Interpretations Committee, which have entered into force after January 1, 2026, will affect earnings or the financial position to any significant extent. The Group applies the Swedish Corporate Reporting Board’s recommen- dation RFR1, Supplementary accounting rules for groups, and the Parent Company applies RFR2. During the period, the Group has assessed that certain long-term intra-Group receivables from foreign subsidiaries form part of the Group’s net invest- ment in the respective foreign operations. This assessment is based on the fact that settlement of the receivables is neither planned nor likely to occur in the foreseeable future. Exchange rate differences attributable to these items are therefore recognized in other comprehensive income and accumulated in the translation reserve. The accounting treatment in the individual legal entities is not affected by this assessment. Disclosures in accordance with IAS 34.16A are presented not only in the financial statements and the accompanying notes, but also in other sections of the interim report. The financial statements are presented in SEK, rounded to the nearest hundred thousand, unless otherwise stated. As a result of rounding, the sum of individual items in one or more rows or columns may not correspond to the total for the respective row or column. IFRS 18, which introduces new requirements for presentation and disclosures in the financial statements, becomes effective for financial years beginning on 1 January 2027. The Group has initiated an analysis of the effects of the standard and is currently assessing the changes required to the reporting structure, chart of accounts and disclosures. The standard is expected to primarily affect the presentation of the Group’s financial statements. NOTE 2 Risks and uncertainties Inwido’s operations are subject to various risks. The operational risks can be divided into business risks, financial risks, and sustainability risks. The business risks relate, for example, to risks linked to the market, competition, business development, losses on trade receivables, warranty and product liability, suppliers, prices for raw materials, insurance, political decisions, legal disputes, and taxes. The financial risks primarily involve changes in exchange rates and interest rates, liquidity risks, capacity to raise capital, and financial credit risks. Sustainability risks include the impact of climate change on internal and external value chains, supplier sustainability profiles, work environment deficiencies, downtime due to e.g. accidents, fire and natural disasters, impact of distribution chains on the environment, internal environmental risks, corporate governance and policy risks, human capital, and human rights. Risk management in Inwido is based on a structured process for the continuous identification and assessment of risks, their probabilities and potential impacts on the Group. The focus is on identifying controllable risks and managing them to thereby mitigate the overall level of risk in the operations. The Group’s risks are described in the 2025 Annual Report. Beyond these, no significant additional risks or uncertainties have arisen. NOTE 3 Financial instruments at fair value Financial instruments are valued at fair value in the Consolidated statement of comprehensive income. The balance sheet item ‘Financial investments’ contains the Group’s holdings of unlisted securities. The cost for these has been deemed to be a reasonable approximation of their value. For a description of the measurement techniques and input data in the measurement of financial instruments at fair value, see Note 3 in the 2025 Annual Report. For other financial assets and liabilities in the Group, the carrying amounts represent a reasonable approximation of their fair values. For a specifica- tion of such financial assets and liabilities, please see Note 3 in the 2025 Annual Report.
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Q3 21 Inwido AB (publ) | Interim report | January – September 2026 NOTE 4 Segment reporting Inwido’s operations are structured into business areas based on the parts of the Group that are monitored by the senior executive management. The organization is designed to enable effective management and monitoring of financial key performance indicators, such as operating EBITA, EBITA, return on operating capital and cash flow per business area. The Group is divided into four segments: Scandinavia, West, East, and e-Commerce. In addition to these, the category Other includes companies that mainly conduct coating operations and produce aluminum components for windows and doors, for example, which are sold internally within the Group. Group-wide costs relate to expenses attributable to projects and functions that are common to the entire Group, including central management, the finance department, purchasing, IT, HR, sustainability, communication and eliminations of internal profits. The impact of IFRS 16 is presented separately and is not allocated by business area. Other than the items presented below, the Group has not identified any further material income or expense items that need to be disclosed by operating segment. Acquisitions have been carried out during the year that have affected Business Areas West and East. Jan-Sep 2026 SEKm Scandinavia West East e-Commerce Groupwide and other Eliminations IFRS 16 effect Total External sales 3,164.5 1,890.9 1,510.6 804.8 157.0 - - 7,527.8 Internal sales 117.0 0.3 0.9 42.9 168.9 -330.0 - - Total net sales 3,281.5 1,891.2 1,511.5 847.6 325.9 -330.0 - 7,527.8 Cost of goods sold -2,436.2 -1,451.6 -1,220.0 -600.9 -290.3 330.0 11.5 -5,657.5 Gross profit 845.3 439.6 291.5 246.8 35.6 - 11.5 1,870.3 Operating EBITA 427.0 215.6 46.0 84.3 -49.7 - 15.0 738.2 EBITA 423.9 207.6 43.5 83.8 -63.0 - 15.0 710.8 Of which EBITA in associated compa- nies 0.7 - - - - - - 0.7 EBIT - - - - - - - 669.2 Net financial items - - - - - - - -93.1 Profit before tax - - - - - - - 576.1 Intangible and tangible non-current assets 3,819.7 2,092.5 1,884.5 693.8 176.1 - 438.1 9,104.8 Acquisitions of non-current assets 121.2 29.6 40.2 9.0 6.3 - 75.9 282.2 Acquisitions of non-current assets through business combinations - 154.7 410.0 - - - - 564.7 Jan-Sep 2025 SEKm Scandinavia West East e-Commerce Groupwide and other Eliminations IFRS 16 effect Total External sales 3,045.7 1,321.2 1,285.7 758.4 150.7 - - 6,561.6 Internal sales 114.2 0.3 0.2 45.5 164.3 -324.4 - - Total net sales 3,159.9 1,321.5 1,285.9 803.9 315.0 -324.4 - 6,561.6 Cost of goods sold -2,347.6 -1,051.0 -993.8 -588.5 -283.5 324.4 10.7 -4,929.3 Gross profit 812.3 270.4 292.1 215.4 31.5 - 10.7 1,632.3 Operating EBITA 411.2 142.5 54.9 54.8 -33.2 - 12.6 642.7 EBITA 405.7 140.4 52.1 45.3 -53.3 - 14.4 604.6 Of which EBITA in associated compa- nies 1.6 - - - - - - 1.6 EBIT - - - - - - - 570.6 Net financial items - - - - - - - -79.0 Profit before tax - - - - - - - 491.6 Intangible and tangible non-current assets 3,560.1 980.1 1,437.9 689.4 178.9 - 437.1 7,283.6 Acquisitions of non-current assets 71.9 15.8 32.1 25.5 6.3 - 58.5 209.9 Acquisitions of non-current assets through business combinations - - - - - - - -
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Q3 22 Inwido AB (publ) | Interim report | January – September 2026 Net sales by country Net sales distribution between market segments by operating segment, quarter NOTE 5 Distribution of income Jul-Sep Jul-Sep Jan-Sep Jan-Sep Last 12 Jan-Dec SEKm 2026 2025 2026 2025 months 2025 Sweden 543 515 1,727 1,616 2,394 2,283 Denmark 688 641 1,885 1,848 2,580 2,544 Norway 136 104 366 334 480 448 Finland 429 436 1,139 1,219 1,575 1,655 Poland 23 14 62 39 98 74 UK 601 382 1,664 1,143 2,045 1,524 Ireland 112 83 268 232 355 319 Germany 26 27 76 77 106 107 Other 165 21 341 53 335 47 Total 2,724 2,224 7,528 6,562 9,968 9,002 Consumer Project Other Internal sales Group Jul-Sep Jul-Sep Jul-Sep Jul-Sep Jul-Sep Jul-Sep Jul-Sep Jul-Sep Jul-Sep Jul-Sep SEKm 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 Scandinavia 791 756 279 253 14 15 41 41 1,126 1,065 West 287 190 410 260 4 - 0 0 701 450 East 240 129 364 321 3 13 0 0 607 463 e-Commerce 285 246 - - 1 0 13 17 300 263 Group-wide eliminations and other 0 0 - - 45 41 -55 -58 -10 -17 Total 1,604 1,321 1,052 834 67 69 - - 2,724 2,224 Net sales distribution between market segments by operating segment, Jan-Sep Consumer Project Other Internal sales Group Jan-Sep Jan-Sep Jan-Sep Jan-Sep Jan-Sep Jan-Sep Jan-Sep Jan-Sep Jan-Sep Jan-Sep SEKm 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 Scandinavia 2,237 2,148 883 857 44 41 117 114 3,282 3,160 West 810 585 1,077 736 4 - 0 0 1,891 1,321 East 529 363 935 893 47 30 1 0 1,511 1,286 e-Commerce 802 756 - - 2 2 43 46 848 804 Group-wide eliminations and other 0 0 - - 157 151 -161 -160 -4 -9 Total 4,379 3,852 2,895 2,486 254 224 - - 7,528 6,562
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Q3 23 Inwido AB (publ) | Interim report | January – September 2026 NOTE 6 Acquisitions On December 9, 2025, Inwido entered into an agreement to acquire AJM Group. The takeover was completed in January 2026. The company is a market leader in the Slovenian window market, and also has sales in Austria and Switzerland. For Inwido, this acquisition is a significant step towards broadening its European presence. AJM Group has sales of around EUR 30 million, employs 200 people, and has a well-invested production facility near Maribor . The compa- ny stands out with its broad product range, including PVC, aluminum, and wood, as well as its extensive customer base in the Consumer and Project customer groups. Approximately 20 percent of revenue comes from sales through the company’s own sales channels in Austria and Switzerland. Inwido is acquiring 70 percent of the shares in AJM Group from the founder, with a put/call option for the remaining 30 percent, held by the company’s management, in early 2028. The purchase consideration for the remaining 30 percent of the shares will be based on AJM Group’s future financial development. The business is an indepen- dent business unit within Business Area East. On April 2, 2026, Inwido acquired 70 percent of the shares of the British company Sovereign Group, which operates in the uPVC windows and doors sector and has with annual sales of approximately GBP 23 million. The company has approximately 170 employees and focuses on public housing. The acquisition is further strengthening Inwido’s presence in the UK, adding a well-established platform in the social housing segment. The acquisition was completed at an EBITDA multiple of 5.5x based on 2025 figures (6.1x EBITA), with a call/put option regarding the remaining 30 percent in 2029. The acquisition agreement also includes contingent consideration based on the company’s operating profit for the 2026 financial year . The business is an independent business unit within Business Area West. On May 7, 2026, Inwido entered into an agreement to acquire Marlex d.o.o. The takeover was completed in June 2026. The company is a leading ma- nufacturer of PVC and aluminum windows and doors in Croatia. The acquisition marks Inwido’s entry into the Croatian market and further strengthens the Group’s European presence. The company is based in Varaždin, has around 270 employees, and annual sales of about EUR 33 million, with higher profitability than Inwido’s average. Inwido is acquiring 70 percent of the shares in Marlex at an EBITDA multiple of 5.1x based on 2025 (6.3x EBITA), with a call/put option for the remaining 30 percent in 2028. Preliminary acquisition analyses for the three acquisitions, based on preliminary purchase price estimates of SEK 438 million, has identified surplus values of approximately SEK 124 million and additional goodwill of approximately SEK 243 million, and three put/call options of approximately SEK 228 million. The final determination of the purchase consideration and the acquisition analysis are expected to take place during Q1 2027. Up to 30 September, the acquired companies contributed SEK 489 million in external revenue and profit after tax attributable to shareholders of the Parent Company of SEK 6 million. Had the acquisitions been completed on 1 January 2026, management estimates that the companies would have generated exter- nal revenue of SEK 743 million and profit after tax attributable to shareholders of the Parent Company of SEK 7 million. The acquisitions had a net impact on the Group’s cash flow of SEK -383 million, calculated as the consideration paid less cash and cash equivalents acquired. NOTE 7 Significant events after the end of the year There have been no significant events to report following the end of the period. The interim report for Inwido AB (publ) has been presented following authorization by the Board of Directors Malmö, October 21, 2026 Fredrik Meuller President and CEO
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Q3 24 Inwido AB (publ) | Interim report | January – September 2026 Introduction We have reviewed the summary interim financial information (the interim report) of Inwido AB (publ) as of September 30, 2026 and the nine-month period then ended. The Board of Directors and the CEO are responsible for the preparation and fair presentation of this interim report in accordance with IAS 34 and the Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on our review. Orientation and scope of the review We have performed this 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 review consists of making inquiries, primarily among persons responsible for financial matters and accounting issues and performing analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing (ISA) and generally accepted auditing standards. The procedures performed consequently do not enable us to obtain an assurance that would make us aware of all significant matters that might be identified in an audit. The stated conclusion based on a review therefore does not have the certainty that an expressed opinion based on an audit has. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the interim report is not prepared, in all material respects, in accordance with IAS 34 and the Annual Accounts Act for the Group and in accordance with the Swedish Annual Accounts Act for the Parent Company. Malmö, October 21, 2026 Ernst & Young AB Martin Henriksson Authorized Public Accountant Review report To the Board of Directors of Inwido AB (publ) Corporate identity number 556633-3828
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Q3 25 Inwido AB (publ) | Interim report | January – September 2026 Definitions of alternative key ratios not defined by IFRS Inwido presents certain alternative financial ratios in addition to the conventional financial ratios set by IFRS, in order to better understand the development of the business and the financial status of the Inwido Group. Such KPIs should not, however, be considered a substitute for the KPIs required under IFRS. The alternative KPIs presented in this report are described below. Income measures Calculation Purpose Organic growth Net sales for the current period excluding acquisi- tions divided by net sales during the corresponding period in the preceding year . The change is adju- sted for exchange rate fluctuations by applying the current period’s exchange rates to net sales during the corresponding period in the preceding year . Organic growth excludes the effects of changes in the Group’s structure and exchange rates, enabling a comparison of net sales over time. Gross profit/loss Net sales minus cost of goods sold (direct costs linked to production). This KPI is used to measure how much of net sales is left to cover other expenses. Operating gross profit Gross profit before items affecting comparability. The KPI is also adjusted for the impact of items affecting comparability to increase comparability over time. EBITDA Operating profit before depreciation/amortization and impairment. This KPI is used to measure cash flow from operating activities, regard- less of the effects of financing and depreciation rates on non-current assets. Operating EBITDA EBITDA before items affecting comparability. The KPI is also adjusted for the impact of items affecting comparability to increase comparability over time. The KPI is a central component in the bank covenant Net debt/operating EBITDA. EBITA Operating profit after depreciation, amortiza- tion and impairment but before deduction for impairment of goodwill as well as amortization and impairment of other intangible assets that arose in conjunction with company acquisitions (Earnings Before Interest, Tax and Amortization). This KPI enables comparisons of profitability over time regardless of amortization and impairment of acquisition-related intangible assets, and regardless of the corporate tax rate and the company’s financing structure. Depreciation of tangible assets is, however, included, this being a measure of resource consumption necessary to generate profit. Operating EBITA EBITA before items affecting comparability. The KPI is also adjusted for the impact of items affecting comparability to increase comparability over time. The KPI is also used in internal review and constitutes a central financial target for the operations. Items affecting com- parability Income statement items that are non-recurring, have a significant impact on profit and are impor- tant for understanding the underlying develop- ment of operations. These items mainly relate to restructuring costs and acquisition costs. A separate account of items affecting comparability elucidates develop- ment in the underlying operations. Margin measures Calculation Purpose Gross margin Gross profit as a percentage of net sales. This KPI is a complement to operating margin since it shows the surplus from net sales left to cover other expenses in relation to net sales. Operating gross margin Operating gross profit as a percentage of net sales. This KPI increases the comparability of the gross margin over time, since it is adjusted for the impact of items affecting comparability. EBITDA margin EBITDA as a percentage of net sales. This KPI serves as a complement to operating margin, since it shows the reported surplus cash flow in relation to net sales. The KPI also enables comparison with other companies, regardless of each company’s de- preciation/amortization principles and the age structure of non-current assets. Operating EBITDA margin Operating EBITDA as a percentage of net sales. This KPI increases the comparability of the EBITDA margin over time, since it is adjusted for the impact of items affecting comparability. EBITA margin EBITA as a percentage of net sales. This KPI reflects the operating profitability of the operations before amortization and impairment of acquisition-related intangible assets. The KPI is an important component, alongside sales growth and capital turnover rate, in tracking the company’s value creation.
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Q3 26 Inwido AB (publ) | Interim report | January – September 2026 Operating EBITA margin Operating EBITA as a percentage of net sales. This KPI increases the comparability of EBITA margin over time, since it is adjusted for the impact of items affecting comparability. Operating margin (EBIT margin) Operating profit as a percentage of net sales. This KPI reflects the operating profitability of the operations. The KPI is an important component, alongside sales growth and capital turnover rate, in tracking the company’s value creation. Capital structure Calculation Purpose Net debt Interest-bearing liabilities and interest-bearing provisions less interest-bearing assets, including cash and equivalents. The net debt measure is used to track the development of debt and to see the scope of the refinancing requirement. Since liquid funds can be used to pay off debt at short notice, net debt is used instead of gross debt as a measure of total loan financing. Net debt/ operating EBITDA Net debt in relation to operating rolling 12-month EBITDA. This KPI is a debt ratio showing how many years it would take to pay off the company’s liabilities, provided that its net debt and EBITDA are constant and without taking cash flows relating to interest, taxes and investments into account. Net debt/equity ratio Net debt in relation to shareholders’ equity. This KPI is a measure of the relationship between the Group’s two forms of financing. The measure shows loan capital as a share of shareholders’ invested capital. The measure reflects financial strength but also the leverage effect of borrowings. A higher debt ratio entails higher financial risk and higher financial leverage. Interest coverage ratio Profit after net financial items plus financial expen- ses in relation to financial expenses. This KPI indicates the company’s capacity to cover its interest expenses. Equity/assets ratio Shareholders’ equity including non-controlling interests as a percentage of total assets. This KPI reflects the company’s financial position. A favorable equity/as- sets ratio provides a preparedness to manage periods of recession and financial preparedness for growth. At the same time, a higher equity/ assets ratio provides lower financial leverage. Operating capital Total assets less cash and equivalents, other interest-bearing assets and non-interest-bearing provisions and liabilities. Operating capital shows the amount of capital that the business requi- res to conduct its core operations. It is primarily used for the calculation of return on operating capital. Return measures Calculation Purpose Return on sharehol- ders’ equity Profit after tax, last 12 months (LTM), attributable to the Parent Company’s shareholders as a per- centage of average shareholders’ equity, excluding non-controlling interest (average calculated based on the past four quarters). Return on shareholders’ equity shows the total return, in accounting terms, on shareholders’ capital and reflects the effects of both the profitability of the operations and of financial leverage. The measure is primarily used to analyze profitability for shareholders over time. Return on operating capital EBITA, last 12 months (LTM), as a percentage of av- erage operating capital (average calculated based on the past four quarters). Return on operating capital shows how well the operations use the net capital tied up in the operations. This reflects the combined effect of the operating margin and the turnover rate for operating capital. The KPI is mainly used to track the Group’s value creation over time. Share data Calculation Purpose Cash flow per share before/after dilution Cash flow from operating activities divided by the weighted average number of shares outstanding for the period before/after dilution. This KPI measures the cash flow per share generated by the operations before capital investments and cash flows attributable to the company’s financing. Shareholders’ equity per share before/ after dilution Shareholders’ equity attributable to Parent Company shareholders divided by the number of shares outstanding at the end of the period before/after dilution. This key performance indicator serves to describe the scale of the com- pany’s net worth per share. Market segments Calculation Consumer Sales to the Consumer market are conducted through the following channels: direct sales, retailers, middlemen. Project Sales to the Project market are conducted through the following channels: building companies, retai- lers, manufacturers of prefabricated homes, and tenant-owner associations.
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Q3 27 Inwido AB (publ) | Interim report | January – September 2026 Calculation of alternative key ratios Income measures Jul-Sep Jul-Sep Jan-Sep Jan-Sep Last 12 Jan-Dec SEKm 2026 2025 2026 2025 months 2025 Operating profit (EBIT) 309 241 669 571 931 832 Depreciation/amortization and Impairment 113 93 331 286 427 382 EBITDA 423 334 1,000 857 1,358 1,215 Items affecting comparability, other items 11 16 27 38 53 64 Operating EBITDA 434 350 1,028 895 1,411 1,278 Gross profit/loss 708 575 1,870 1,632 2,498 2,261 Items affecting comparability, other items 0 6 2 12 2 12 Operating gross profit 708 581 1,873 1,644 2,501 2,273 Operating profit (EBIT) 309 241 669 571 931 832 Depreciation/amortization of acquisition-related intangible assets 14 11 42 34 53 45 EBITA 323 252 711 605 983 877 Items affecting comparability, depreciation/amortiza- tion and other items 11 16 27 38 53 64 Operating EBITA 334 268 738 643 1,036 941 Items affecting comparability -11 -16 -27 -38 -53 -64 Amortization/depreciation - - - - - - Other items -11 -16 -27 -38 -53 -64
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Q3 28 Inwido AB (publ) | Interim report | January – September 2026 continuedcalculationofalternativekeyratios Capital structure Jul-Sep Jul-Sep Jan-Sep Jan-Sep Last 12 Jan-Dec SEKm 2026 2025 2026 2025 months 2025 Cash and equivalents −650 −752 −650 −752 −650 −643 Other interest-bearing assets −41 −39 −41 −39 −41 −39 Interest-bearing liabilities, non-current 2,839 1,948 2,839 1,948 2,839 2,659 Interest-bearing liabilities, current 747 116 747 116 747 140 Net debt 2,895 1,272 2,895 1,272 2,895 2,117 Total assets 12,318 10,044 12,318 10,044 12,318 10,588 Cash and equivalents −650 −752 −650 −752 −650 −643 Other interest-bearing assets −41 −39 −41 −39 −41 −39 Non-interest-bearing provisions and liabilities −2,983 −2,448 −2,983 −2,448 −2,983 −2,285 Operating capital 8,644 6,805 8,644 6,805 8,644 7,622 Average operating capital, last four quarters 8,203 6,891 8,203 6,891 8,203 7,058 EBITA, last 12 months 983 878 983 878 983 877 Return on operating capital (%) 12.0 12.7 12.0 12.7 12.0 12.4 Profit after tax attributable to the parent company’s shareholders, last 12 months 577 531 577 531 577 514 Average equity attributable to parent company’s share- holders, last four quarters 5,569 5,496 5,569 5,496 5,569 5,460 Return on equity (%) 10.4 9.7 10.4 9.7 10.4 9.4 Growth Jul-Sep Jul-Sep Jan-Sep Jan-Sep SEKm 2026 2025 2026 2025 Change in net sales, of which 500 −49 966 147 whereof - Organic growth 100 5 162 257 - Structural change 390 7 899 27 - Currency effects 10 −61 −95 −138
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29 Inwido AB (publ) | Interim report | January – June 2026 Other Q3 Inwido AB (publ) Engelbrektsgatan 15, SE-211 33 Malmö Tel: +46 (0)10 451 45 50 Email: info@inwido.com Corporate identity number: 556633-3828 www.inwido.com Follow Inwido’s journey on LinkedIn Presentation of the report A teleconference for analysts, media representatives and investors will be held at 10:00 a.m. today, October 21, 2026. At that time, the report will be presented by Fredrik Meuller, President and CEO, and Peter Welin, CFO and Deputy CEO. The presentation will be held in English and can be followed via live webcast at: https://inwido.com/financials. Here you will also find the presentation material for the meeting before it starts. It will also be possible to view the broadcast later at www.inwido.com. If you wish to participate via webcast with the opportunity to ask written questions, please visit this link: https://www.finwire.tv/ webcast/inwido/q3-2026/ If you wish to participate via telephone conference with the oppor- tunity to ask questions verbally, please call +46 (0)8 5050 0828. Then enter Meeting ID: 96900726388, followed by #. To raise your hand, press *9 and to activate your audio, press *6. Information for shareholders Financial calendar Capital Markets Day December 9, 2026 Interim report, January-December 2026 February 9, 2027 Interim report, January-March 2027 April 27, 2027 Annual General Meeting 2027 May 19, 2027 Interim report, January-June 2027 July 16, 2027 This information is such that Inwido AB (publ) is obliged to publish in accordance with the EU market abuse regulation and the Swedish Securities Market Act. The information was submitted by the below contact persons for publication on October 21, 2026 at 7:45 a.m. CET. For further information, please contact Fredrik Meuller President and CEO Tel: +46 (0)73 422 70 11 E-mail: fredrik.meuller@inwido.com Peter Welin CFO and Deputy CEO Tel: +46 (0)70 324 31 90 E-mail: peter.welin@inwido.com Mission To improve people’s well-being indoors by developing and selling the best customized window and door solutions in Europe. Vision To become a Group with sales of SEK 20 billion by 2030. Long-term targets >15% Return on operating capital 75% EU Taxonomy - percentage of products that help mitigate climate change <2.5x Net debt in relation to operating EBITDA SBTi Short- and long-term targets ~50% Dividend compared with net profit