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Interim Report Q3 2026 W E B C A S T – 3 N OV E M B E R 2 0 2 6 © ITAB Group 2026. All rights reserved.
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P. 2 © ITAB Group 2026. All rights reserved. Agenda Highlights Q3 2026 Interim Report Q3 2026 Priorities going forward Questions
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Highlights Q3 2026 . B J Ö R N B O R G M A N
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P. 4 © ITAB Group 2026. All rights reserved. Highlights Q3 2026 I N T E R I M R E P O R T Q 3 2 0 2 6 / H I G H L I G H T S Rolling 12 months Net sales 12,942 MSEK (13,270 MSEK in 2025)* Adjusted EBITA 809 MSEK (835 MSEK in 2025)* 30 MEUR in synergies Full synergy effect at the end of 2027 – just over 50% executed so far Q3 2026 Strong earnings performance in the third quarter Positive sales and earnings performance Implementation of new ERP system discontinued – non-recurring costs Cash flow follows seasonal pattern – mainly affected by quarterly sales increase Synergy realization on track, positive impact on underlying profitability Consolidation of geographic footprint – coordination of production facilities in the UK and Türkiey Net sales 3,397 MSEK (+2% currency adjusted) EBITA 266 MSEK (258 MSEK) excl. non-recurring items Net profit -68 MSEK (99 MSEK) Cash flow (operational) -168 MSEK (-9 MSEK) * Comparative figures for 2025 refer to pro forma combined financial information which includes HMY for an additional month (January 2025). .
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Interim Report Q3 2026. A N D R E A S H E L M E R S S O N
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P. 6 © ITAB Group 2026. All rights reserved. Sales and adjusted EBITA improved in Q3, net profit was negatively impacted by the write-down of the discontinued ERP project I N T E R I M R E P O R T Q 3 2 0 2 6 / F I N A N C I A L S Notes: Sales and earnings excl. Discontinued Operations for 2021 - 2024. 1) 2023 PF is indicative as it is prepared in accordance with French GAAP for legacy HMY. The aggregated financial information is not financial pro forma and has not been audited or otherwise reviewed by the companies’ auditors. Third quarter PF Full year PF MSEK Q3 2026 Q3 2025 Δ 2026 R12 2025 Δ Net sales 3,397 3,297 +3% 12,942 13,270 -2% Adj. EBITA* 266 258 +3% 809 835 -3% Adj. EBITA margin % 7.8 7.8 6.2 6.3 Net Profit -68 99 N/A 60 181 N/A Net debt excl. leasing 2,777 3,070 2,777 2,332 Net sales and adjusted EBITA ( M SEK, %) * EBITA adjusted for non-recurring costs and excluding amortization of acquisition-related intangible assets. Pro forma comparison HMY is consolidated in ITAB Group as of 1st February 2025. To illustrate the financial effects of the acquisition and to give a representative view of the development of the business, this presentation mainly highlights the pro forma development (as if HMY had been part of ITAB Group as of 1st January 2024). Refer to the Year-End Report 2025 for more information and details on the reported figures, with HMY consolidated in ITAB Group as of 1st February 2025 (for eleven months – February-December 2025). ~6.0% 2023 PF1 6.9% 6.5% 2024 PF 6.3% 4.9% 2025 PF 6.2% 3.6% 2026 R12 ~12,500 13,279 13,270 12,942 Adjusted EBITA Reported EBITA Net sales EBIT impact of MSEK -222 from ERP
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P. 7 © ITAB Group 2026. All rights reserved. Q3 net sales increased 3% year-over-year while margins remained stable, translating into profit growth of a similar magnitude I N T E R I M R E P O R T Q 3 2 0 2 6 / F I N A N C I A L S * Adjusted for non - recurring cost s Net Sales, MSEK Adj Gross Profit*, MSEK Adj EBITA*, MSEK Quarter (left axis) R12 trend (right axis) Net sales growth of +3% in Q3, +2% excluding currency effect EBITA margin maintainedGross margin maintained 0 1.000 2.000 3.000 4.000 8.000 9.000 10.000 11.000 12.000 13.000 14.000 Q225 Q325 Q425 Q126 Q226 Q326 3.297 13.490 3.397 12.942 +3,0% 806 832 0 200 400 600 800 1.000 0 500 1.000 1.500 2.000 2.500 3.000 3.500 Q225 Q325 Q425 Q126 Q226 Q326 3.239 3.088 +3,2% 258 266 0 100 200 300 350 0 50 700 750 800 850 Q225 838 Q325 Q425 Q126 Q226 809 Q326 +3,1% 7 .8%24% 7 .8%24%
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P. 8 © ITAB Group 2026. All rights reserved. In Q3, sales improved in core customer groups such as Grocery and Home Improvements, while Fashion faced headwinds I N T E R I M R E P O R T Q 3 2 0 2 6 / F I N A N C I A L S ► Grocery growth across customer base ► Home improvement driven by home decoration while DIY is softer ► Fashion is facing headwinds, slightly better in affordable/value segments ► Others includes sports & leisure, electronics, automotive and travel retail Grocery DIY/Home Improvements Fashion/ Apparel Other customer groups Health & Beauty 1) Excluding Tükiey and Argentina to avoid hyperinflation effects Net sales by customer group, MSEK (excl. countries with hyperinflation1 at fixed currency rate) 0 200 400 600 800 1.000 1.200 1.400 1.600 1.800 Q226 Q326 Q325 Q425 Q126 Q226 Q425 Q126 Q226 Q326 Q126 Q325 Q325 Q326 Q325 Q326 Q425 Q126 Q226 Q226 Q326 Q325 Q425 Q126 Q425 +3% +7% -21% -6% +16%
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P. 9 © ITAB Group 2026. All rights reserved. Regional growth is generally reflecting the regional retail business environment, and came primarily from North and South in Q3 I N T E R I M R E P O R T Q 3 2 0 2 6 / F I N A N C I A L S Northern Europe Southern Europe Central Europe Eastern Europe UK & Ireland Rest of the World ► Weaker in DACH, Benelux and Poland ► Headwinds also in the UK but with signs of improvement in Q3 ► Geopolitical instability affect business in Middle East ► Customer successes in Australia Net sales by geographical region, MSEK (excl. countries with hyperinflation1 at fixed currency rate) 1) Excluding Tükiey and Argentina to avoid hyperinflation effects ► Southern and Northen European growth led by Spain, Sweden and Finland. Italy improving in Q3, now in line with last year again 0 200 400 600 800 1.000 1.200 1.400 1.600 1.800 Q425 Q126 Q226 Q326 Q325 Q425 Q126 Q226 Q326 Q425 Q126 Q226 Q326 Q226 Q126 Q425 Q325 Q326 Q226 Q126 Q425 Q326 Q226 Q126 Q425 Q326 Q325 Q325 Q325 Q325 +7% +36% -18% -7% -15% -2%
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P. 10 © ITAB Group 2026. All rights reserved. Year-to-Date EBITA has decreased driven by sales volume, while price increases and sourcing synergies have protected margin I N T E R I M R E P O R T Q 3 2 0 2 6 / F I N A N C I A L S 6.4% 6.5% X% EBITA* bridge, MSEK * Adjusted for non-recurring costs. ** Includes non-comparable adjustments, leasing of premises, and income / loss from sales of fixed assets. Margin ► Spain, Nordics, LATAM and US sales volume ► Sourcing synergies ► SG&A synergies ► DACH, UK and Italy sales volume ► Material cost inflation rising in Q3 ► Euroshop costs, labour cost inflation and selling expenses in growing regions ► FX impact 637 609 YTD 2025 Sales Volume 23 Margin/ Mix -1 SG&A 3 Other operating** -9 FX YTD 2026 -44
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P. 11 © ITAB Group 2026. All rights reserved. The Q3 EBITA improvement was primarily driven by sales volume I N T E R I M R E P O R T Q 3 2 0 2 6 / F I N A N C I A L S X% EBITA* bridge, MSEK * Adjusted for non-recurring costs. ** Includes non-comparable adjustments, leasing of premises, and income / loss from sales of fixed assets. Margin ► SouthWest and Northern European sales – Spain and Nordic countries ► Sourcing synergies ► SG&A synergies, offset by extraordinary provisions and cost increases in growth regions ► DACH, Benelux and UK sales ► France heat wave causing extra costs and lower production ► Material cost inflation rising ► Other operating expenses include non- comparable adjustments connected to accounting harmonization across ITAB/ HMY 258 266 38 Q3 2025 Sales Volume 5 Margin/ Mix 6 SG&A -38 Other operating** -4 FX Q3 2026 7.8% 7.8%
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P. 12 © ITAB Group 2026. All rights reserved. Seasonal build-up of working capital and taxes are negatively affecting operating cash flow in Q3 2026 I N T E R I M R E P O R T Q 3 2 0 2 6 / F I N A N C I A L S Operating cash flow, MSEKWorking Capital % of sales Quarterly Rolling 12 months Quarterly working capital, % of sales rolling 12 months 3 4 5 6 7 8 9 10 11 12 13 14 8%25Q1 11% 25Q2 14% 25Q3 12% 11% 25Q4 9% 12% 26Q1 11% 12% 26Q2 13% 11% 26Q3 R12 working capital, % of sales rolling 12 months (Proforma) 160 323 26 -53 -9 821 214 -112 -168 677 624 586 456 287 973 755 24Q3 24Q4 25Q1 25Q2 25Q3 78525Q4 26Q1 914 26Q2 26Q3 +468
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P. 13 © ITAB Group 2026. All rights reserved. Net debt down approx. 10% since last year, although working capital outflow is impacting negatively in Q3 I N T E R I M R E P O R T Q 3 2 0 2 6 / F I N A N C I A L S Quarterly Net Debt excluding Leasing, MSEK Quarter Net Debt bridge excluding Leasing, MSEK -1,000 -500 0 500 1,500 2,500 3,500 Q324 Q424 Q125 Q225 3,070Q325 Q425 Q126 Q226 2,777Q326 -9.5% -365 -101 -48 -120 -53 0 Net interest paid/ received -2,424 Net invest- ments Taxes paid Change in working capital EBITDA 334 Financial net debt 30 June 2026 2,777 FX & Other Net debt 30 Sep 2026
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P. 14 © ITAB Group 2026. All rights reserved. We have executed on 50%+ of annualized synergy potential, next wave of synergies is being planned for execution starting next quarter I N T E R I M R E P O R T Q 3 2 0 2 6 / F I N A N C I A L S Synergy potentials (annualized) and execution progress Total synergy potential of 30 MEUR on an annualized basis, with full effect 2027. Synergies come 20 M€ from cost efficiency and 10 M€ commercial, and will enhance EBITDA margin as well as improve earnings per share • Procurement • SG&A • Supply Chain • Commercial Total target and progress 30 M€ Realized Remains Note: Material costs as percent share of goods sales (excluding services), adjusted for supplier quality issue, causing one-off costs. Area Progress Comment Procurement Expecting to fulfill target run-rate synergies Material cost increases from CBAM, quotas and broader inflation (steel, energy and freight) SG&A Wave 1 reduction of overlapping admin completed Wave 2 country integration and rightsizing ongoing Wave 3 additional cost efficiency being planned Supply Chain Mexico production site closed UK warehousing site being closed Integration of production sites in Türkiey ongoing Assessment of additional production site optimization ongoing Commercial Cross-sales of tech and lighting products in Spain, France and LATAM gaining momentum
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Priorities going forward. B J Ö R N B O R G M A N
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P. 16 © ITAB Group 2026. All rights reserved. Going forward I N T E R I M R E P O R T 2 0 2 6 / M A I N P R I O R I T I E S → Profitability ahead of growth • Commercial, Operations and Group • Mitigate the effect of higher steel prices in Europe • More flexible cost structure to mitigate project-driven fluctuations and challenge low profitability businesses • Leverage mix effect in line with strategy (Retail Tech & Services) • Continued focus on synergy realization (30 MEUR) • Objective to reach targeted 7-9% EBIT margin → Balanced investments to further strengthen our leading position in Retail Tech – and continue to drive market consolidation over time
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Questions?