Interim report
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1P.ITAB Group | Interim Report Q3 − 1 January–30 September 2026 Read more on page 3. ITAB Group AB (publ) Box 9054, SE-550 09 Jönköping, Sweden Corp. Reg. No. 556292-1089 E-mail: ir@itab.com itabgroup.com, itab.com Strong earnings performance in the third quarter “In summary, the ITAB Group reported strong earnings performance for the third quarter. Currency-adjusted sales increased by 2 percent compared with the preceding year, and the Group’s EBITA excluding non- recurring items increased by 3 percent to MSEK 266 (258). Our efforts to realise syner- gies are proceeding according to plan and are having a positive impact on underlying profitability. We are also continuing our work on enhancing and better balancing capacity utilisation in our production facilities, and we began the coordination of our facilities in the UK and Türkiye in the third quarter. The aim is to create a more flexible cost structure to better manage project-driven volume fluctuations over time.” Björn Borgman President & CEO Interim Report Q3 2026
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2 P.ITAB Group | Interim Report Q3 − 1 January–30 September 2026 Third quarter (1 Jul–30 Sep 2026) • Net sales increased by 3 percent to MSEK 3,397 (3,297). Currency-adjusted sales increased by 2 percent com - pared with the preceding year. • Operating profit before depreciation and amortisation (EBITDA) excluding non-recurring items of MSEK -42 (-22) amounted to MSEK 376 (369) 2). • Operating profit before amortisation of acquisition-related intangible assets (EBITA) excluding non-recurring items of MSEK -242 (-22) amounted to MSEK 266 (258) 2). • Operating profit amounted to MSEK 6 (220) and the oper - ating margin was 0.2 percent (6.7). Operating profit was charged with non-recurring items of MSEK -242 (-22). 2) • Profit after financial items totalled MSEK -56 (167). Profit was charged with non-recurring items of MSEK -242 (-22). 2) • Profit after tax amounted to MSEK -68 (99). 2) • Earnings per share before and after dilution totalled SEK -0.29 (0.36). 2) • Cash flow from operating activities amounted to MSEK -168 (-9). Third quarter Reporting period Full year (MSEK) Jul−Sep 2026 Jul−Sep 2025 Δ Jan−Sep 2026 Jan−Sep 2025 Δ Rolling 12 months as of 30 Sep 2026 Jan−Dec 2025 Δ Net sales 3,397 3,297 +3% 9,520 9,358 +2% 12,942 12,780 +1% EBITDA excl. non-recurring items 2) 376 369 +2% 938 953 -2% 1,252 1,267 -1% EBITDA margin, % 11.1 11.2 9.9 10.2 9.7 9.9 EBITA excl. non-recurring items 2) 266 258 +3% 610 625 -2% 809 823 -2% EBITA margin, % 7.8 7.8 6.4 6.7 6.2 6.4 Operating profit excl. non-recurring items 2) 248 242 +3% 559 582 -4% 740 763 -3% Operating margin, % 7.3 7.3 5.9 6.2 5.7 6.0 Profit after financial items excl. non-recurring items 2) 186 189 -2% 399 407 -2% 522 530 -2% Profit margin, % 5.5 5.7 4.2 4.3 4.0 4.2 Profit after tax -68 99 N/A 63 161 -61% 60 158 -62% Earnings per share before dilution, SEK -0.29 0.36 N/A 0.18 0.56 -68% 0.13 0.51 -75% Cash flow from operating activities -168 -9 N/A -66 -36 N/A 755 785 -4% Equity/assets ratio, % 34 33 34 33 34 35 Interest-bearing net debt excl. lease liabilities 2,777 3,070 -293 2,777 3,070 -293 2,777 2,332 +445 1) HMY is consolidated in the ITAB Group as of 1 February 2025 and is therefore included for 11 months (February–December) of the 2025 financial year. 2) EBITA, operating profit and profit after financial items for the third quarter of 2026 were charged with non-recurring items of MSEK -242 and EBITDA with MSEK -42. For more information, refer to Note 9. Non-recurring items pertain primarily to integration and restructuring costs as well as acquisition costs in conjunction with the acquisition of HMY, and a provision for future obligations and impairment of intangible assets following the discontinued implementation of a new ERP system (MSEK -222). 3) Combined financial information for the ITAB Group (pro forma summary) per quarter and for full-year 2025 including HMY as of 1 January 2025. For more information, refer to Note 8. The Group in summary 1) For key ratios and definitions, see pages 18–20. 1 January–30 September 2026 Events during the reporting period • Björn Borgman took over as the new President & CEO of the ITAB Group on 1 May 2026. Glauco Frascaroli served as interim President & CEO from 7 January to 30 April 2026. • ITAB Group participated in the world’s leading retail trade fair EuroShop in Düsseldorf in February, where ITAB and HMY – for the first time together – presented their joint ex - pertise and solutions for creating attractive and efficient store experiences. • At the end of April, the ITAB Group entered into a frame- work agreement with one of the leading grocery chains in UK for the delivery and installation of shop fittings across their stores. The total value of the products and services is estimated at MEUR 12 for the coming three years. • In accordance with a resolution adopted at the Annual General Meeting, the Parent Company changed its name to ITAB Group AB (publ) on 25 May 2026. The purpose is to clearly highlight that the ITAB Group is an international group consisting of several strong brands, such as ITAB, HMY, Checkmark, Imola Retail Solutions (IRS), Blink, and others. • In mid-June, the ITAB Group was awarded a framework agreement with a leading grocery chain for a rollout of entrance and exit gate systems, checkout gates and customer flow management solutions at more than 400 Reporting period (1 Jan–30 Sep 2026) • Net sales increased by 2 percent to MSEK 9,520 (9,358). Currency-adjusted sales increased by 3 percent compared with the preceding year, of which organic growth amounted to -2 percent. The acquisition of HMY had an impact of +5 percent. • Operating profit before depreciation and amortisation (EBITDA) excluding non-recurring items of MSEK -73 (-116) amounted to MSEK 938 (953) 2). • Operating profit before amortisation of acquisition-related intangible assets (EBITA) excluding non-recurring items of MSEK -273 (-116) amounted to MSEK 610 (625) 2). • Operating profit amounted to MSEK 286 (466) and the operating margin was 3.0 percent (5.0). Operating profit was charged with non-recurring items of MSEK -273 (-116). 2) • Profit after financial items totalled MSEK 126 (288). Profit was charged with non-recurring items of MSEK -273 (-119). 2) • Profit after tax amounted to MSEK 63 (161). 2) • Earnings per share before and after dilution totalled SEK 0.18 (0.56). 2) • Cash flow from operating activities amounted to MSEK -66 (-36). • The equity/assets ratio at the end of the period was 34 percent (33). • Net debt excluding lease liabilities amounted to MSEK 2,777 (3,070). Combined financial information for the ITAB Group (pro forma) 3) Due to the acquisition of HMY, which was completed on 31 January 2025, selected profit items per quarter and for full-year 2025 are also presented on a pro forma basis to illustrate the financial effects of the acquisition. Refer to Note 8 on page 15 for more information. Reporting period Outcome Pro forma (MSEK) Jan−Sep 2026 Jan−Sep 2025 Δ Net sales 9,520 9,847 -3% Gross profit excl. non-recurring items 2) 2,352 2,412 -2% Gross margin, % 24.7 24.5 EBITA excl. non-recurring items 2) 610 637 -4% EBITA margin, % 6.4 6.5 Interim Report Q3 2026 − 9 months SUMMARY stores across multiple European countries. The agreement runs for an initial term of 12 months and the total value of products, services and installations is estimated at approximately MEUR 8. • At the end of August, the ITAB Group entered into a new and expanded framework agreement with REMA 1000, a leading grocery retail chain in the Nordic region, for a large-scale rollout of store interiors and loss prevention solutions, as well as shopping trolleys and baskets in their 650 stores in Norway. The agreement runs for 42 months and the total value of products, services and installations is estimated at approximately MNOK 320. • In September, ITAB decided to discontinue the ongoing project to implement a new enterprise resource planning system (“ERP”) for the Group. As a result of the decision, previously capitalised assets related to the project will be impaired and a provision for future obligations will be made, resulting in an earnings impact totalling approxi - mately MSEK 250, of which approximately MSEK 222 has been charged to operating profit as a non-recurring item during the third quarter of 2026.
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3 P.ITAB Group | Interim Report Q3 − 1 January–30 September 2026 Higher sales despite global challenges The latter part of the third quarter is seasonally strong for our project-based operations, and total Group sales increased compared with the corresponding quarter in the preceding year. For example, a number of major framework agreements signed during the year with leading European grocery chains for large-scale installations of shop fittings, gates and other loss prevention solutions have had a positive effect. Primarily the markets in the Nordic region and Spain have had a positive performance to date this year, while our operations in the UK and Italy have noted weaker demand. Our performance in Türkiye and the rest of the Middle East remains negatively impacted by the geopo - litical situation. For the Group as a whole, currency-adjusted net sales increased by 2 percent to MSEK 3,397 (3,297) for the third quarter. Positive earnings performance for the quarter The Group’s earnings were relatively strong in the third quarter, which is seasonally a good quarter for ITAB. This year's earnings were slightly better than the strong third quarter we had in 2025. Earnings performance remained in line with set targets for many of the Group’s operations, while our measures to improve efficiency and capacity utilisation across the Group as a whole are continuing. Our price adjustments to offset higher costs for, primarily, raw materials, energy and transportation generated a positive effect during the quarter. Our ongoing integration efforts Strong earnings performance in the third quarter We can summarise a strong earnings performance in the third quarter for the ITAB Group. Currency-adjusted sales increased by 2 percent compared with the preceding year, and the Group’s EBITA excluding non-recurring items increased by 3 percent to MSEK 266 (258). Our efforts to realise synergies are proceeding according to plan and are having a positive impact on underlying profitability. We are also continuing our work on enhancing and better balancing capacity utilisation in our production facilities, and we began the coordination of our facilities in the UK and Türkiye in the third quarter. The aim is to create a more flexible cost structure to better manage project-driven volume fluctuations over time. PRESIDENT’S COMMENTS and realisation of synergies and increased cross-selling to our existing customer base are proceeding according to plan. We estimate that we are just past the halfway point in the program, with the goal of reaching MEUR 30 on an annualised basis by the end of 2027. We can see that this is having a positive impact on underlying profitability. The Group’s overall gross margin has remained stable to date this year. The process of reviewing our production capacity and creating a more flexible cost structure in order to better manage project-driven volume fluctuations over time is continuing. For example, we began the coordination of our production facilities in the UK and Türkiye in the third quarter with the aim of achieving better capacity utilisation. The extreme heat in southern Europe in July and August forced us to periodically scale down our production rate, primarily in France, which impacted our earnings for the third quarter. The Group’s EBITA (excluding non-recurring items) for the quarter increased by 3 percent to MSEK 266 (258), corresponding to an unchanged EBITA margin of 7.8 percent. Cash flow from operating activities of MSEK -66 (-36) for the reporting period largely follows the normal seasonal pattern. The seasonal strength of our project-based opera - tions in the last couple of months of the third quarter results in a gradual build-up of accounts receivable. Our financial target for capital efficiency (cash conversion) amounted to 68 percent for the most recent 12-month period (compared with 72 percent in 2025). In September, we decided to discontinue the ongoing proj - ect to implement a new ERP system for the Group that was initiated a number of years ago, prior to the acquisition of HMY. Following a thorough evaluation, we have decided to proceed with a solution based on a combination of existing ERP systems and group-wide applications. Our assessment is that this approach will enable us to accelerate business integration, reduce execution risk and deploy resources where they create value more quickly to achieve the same strategic objectives. As a result of the decision, a provision for future obligations and an impairment of previously capitalised intangible assets related to the project will be charged to operating profit as a non-recurring item by approximately MSEK 250, of which MSEK 222 during the third quarter. Continued focus on profitability ahead of growth The proximity to our customers and our employees’ ability to rapidly adapt to external changes have been the key to our success in recent years, and this will be even more crucial going forward. One of the major short-term challenges for the Group is the trend in steel prices in Europe, since steel is ITAB’s main input goods. Efforts to mitigate the impact of the higher costs have been initiated. Our other short-term focus areas remain on our dedicated work to improve our internal efficiency, on realising identified synergies, on active sales efforts close to our customers, on enhancing the efficiency of our production and on reducing tied-up capital. By prioritising growth in Retail Tech and creating a more flexible cost structure, our overall goal is to gradually progress toward our financial target of a 7–9 percent EBIT margin on an annual basis. Jönköping, November 2026 Björn Borgman President & CEO ITAB Group AB Our aim is to create a more flexible cost structure to better manage project-driven volume fluctuations over time.
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4 P.ITAB Group | Interim Report Q3 − 1 January–30 September 2026 Development in 2026 1 January−30 September Net sales Third quarter The Group’s net sales increased by 3 percent to MSEK 3,397 (3,297) in the third quarter of the year. Currency-adjusted sales increased by 2 percent compared with the preceding year. The Group has signed a number of framework agree - ments with leading grocery chains in Europe during the year, which have had a positive impact on sales for the quarter. Primarily the operations in the Nordic region and Spain have had a positive performance, while demand in the UK and Italy stabilised slightly compared with the preceding quarters. The extreme heat in southern Europe at the start of the quarter also impacted sales, with production at the Group’s manufacturing facilities periodically scaled back, primarily in France. The performance of the opera - tions in Türkiye and the rest of the Middle East continued to be negatively impacted by the geopolitical situation in the region. In summary, the business climate in the Group’s main markets was hence to a large extent stable during the quarter, with total net sales slightly higher than last year. Reporting period The Group’s net sales increased by 2 percent to MSEK 9,520 (9,358) in the first nine months of the year. Currency-adjust - ed sales increased by 3 percent compared with the preced - ing year, of which organic growth amounted to -2 percent. The acquisition of HMY had an impact of +5 percent. The Group’s operations in the Nordic region and Spain have performed well so far this year, with higher demand noted across several different customer segments. Sales in some of the Group’s other main markets such as Italy and the UK have stabilised slightly in recent months following a weaker start to the year, although there are still variations among different customer segments. The performance in Türkiye and the rest of the Middle East was negatively impacted by the geopolitical tension. The interest in the Group’s various technical and digital solutions for loss pre - vention and increased in-store self-service remains strong in the market. At the same time, with inflation rising and signs of higher interest rates emerging, concerns about future economic developments continue to impact many retailers’ investment decisions, particularly with respect to new store openings and store refurbishments. This caution is also heightened by the ongoing war between the US and Iran. Targeted sales activities are ongoing in all of the Group’s operations and markets. Reported sales by customer group and geographic area are shown in Note 3 on page 13. Earnings Third quarter Operating profit for the third quarter totalled MSEK 6 (220), corresponding to an operating margin of 0.2 percent (6.7). Earnings were impacted by non-recurring items of MSEK -242 (-22) pertaining to integration and restructuring costs in conjunction with the acquisition of HMY (MSEK -20), and a provision for future obligations and impairment of intangible assets following the discontinued implementation of a new ERP system for the Group (MSEK -222). Operating profit ex - cluding these non-recurring items totalled MSEK 248 (242), corresponding to an operating margin of 7.3 percent (7.3). EBITA excluding non-recurring items totalled MSEK 266 (258). The Group’s overall earnings performance in the third quarter was positive compared with the preceding year. The gross margin (excluding non-recurring items) increased slightly, positively impacted by margin improvements resulting from purchasing synergies, while the higher cost levels for raw materials, transportation, energy and other inputs had a negative impact. Implemented and planned activities across the whole value chain and tailored price adjustments in response to rising cost inflation had a posi - tive effect, and the work on these activities is continuing. Profitability for several of the Group’s operations re - mained in line with set targets, with for example the Nordic companies strengthening their earnings during the quarter. The most significant negative impact during the quarter arose due to lower sales and profitability in the Group’s operations in France and Türkiye. A number of measures are under way to strengthen the operations' long-term profitabil - ity over time, for example, the process of coordinating the Group’s production facilities in the UK and Türkiye began during the quarter. Profit after financial items totalled MSEK -56 (167). Earn - ings were impacted by non-recurring items of MSEK -242 (-22). Profit after financial items excluding these non-recur - ring items amounted to MSEK 186 (189). Fashion/ Apparel Other customer groups DIY/Home Improvements Grocery Rolling 12 months 2026 Full-year 2025 1) Excluding non-recurring items. Non-recurring items for 2024 pertained primarily to acquisition costs in conjunction with the acquisition of HMY. Non-recurring items for 2025 and 2026 pertain primarily to acquisition and integration costs in conjunction with the acquisition of HMY and provision for future obligations and impairment of intangible assets following the discontinued implementation of a new ERP system. Refer also to Note 9. SALES BY CUSTOMER GROUP, % OF TOTAL NET SALES Health & Beauty DEVELOPMENT Per quarter, MSEK 4,000 3,000 2,000 1,000 0 14,000 10,500 7,000 3,500 0 Net sales per quarter Net sales rolling four quarters Rolling four quarters, MSEK NET SALES Operating profit per quarter, MSEK Operating margin rolling four quarters, % Operating profit per quarter Operating margin rolling four quarters 250 200 150 100 50 0 10 8 6 4 2 0 OPERATING PROFIT AND OPERATING MARGIN 1) 70 60 50 40 30 20 10 00 10 20 30 40 50 60 70 0 50 100 150 200 250 0 2 4 6 8 10 Profit after tax amounted to MSEK -68 (99). The tax rate for the quarter was negatively impacted by the high costs associated with the discontinued implemen - tation of a new ERP system as a non-recurring effect. The normalised tax rate for the ITAB Group, excluding non-recurring items, is approximately 28 percent. Earnings per share before and after dilution totalled SEK -0.29 (0.36). Reporting period Operating profit for the full reporting period amounted to MSEK 286 (466), corresponding to an operating margin of 3.0 percent (5.0). Earnings were impacted by non-recurring items of MSEK -273 (-116) pertain- ing to integration and restructuring costs as well as acquisition costs in conjunction with the acquisition of HMY (MSEK -62), a provision for future obligations and impairment of intangible assets following the discontin - ued implementation of a new ERP system for the Group (MSEK -222) and capital gains on property sales (MSEK +11). Operating profit excluding these non-recurring items totalled MSEK 559 (582), corresponding to an operating margin of 5.9 percent (6.2). EBITA excluding non-recurring items totalled MSEK 610 (625). Costs of approximately MSEK -12 for the Group’s participation in the EuroShop trade fair in February have impacted earnings for the period. The Group’s gross margin (excluding non-recurring items) strengthened slightly during the first nine months of the year, positively impacted by margin improve - ments resulting from purchasing synergies, while higher cost inflation for raw materials, transportation and energy had a negative impact. Activities across the whole value chain and tailored price adjustments in the first half of the year had a slight effect in the third quarter, and work on these activities proceeds according to plan. At the same time, total selling and administrative expenses have decreased compared with last year (excluding non-recurring items) due to the implementation of integration measures and the realisation of synergies. In summary, profitability for several of the Group’s operations has been on target so far this year, with the Group’s companies in the Nordic region and Spain, for example, delivering a strong earnings trend. The main negative impact arose due to lower sales and profit - ability in the UK and Italian operations in the beginning of the year, and in France and Türkiye in the third quar- ter. A number of measures are under way to strengthen their long-term profitability. One example is the start of the process to coordinate the Group’s production facili - ties in the UK and Türkiye during the third quarter. Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 0 1000 2000 3000 4000 Q3/23 Q4/23 Q1/2 4 Q2/24 Q3/24 Q4/24 Q1/2 5 Q2/25 Q3/25 Q4/25 Q1/2 6 Q2/26 Q3/26
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5 P.ITAB Group | Interim Report Q3 − 1 January–30 September 2026 The Group’s ongoing integration efforts and realisation of synergies are proceeding according to plan, and the assessment is that it is just past the halfway point of the measures to be implemented under the program. The specific plans to reach the goal of MEUR 30 on an annualised basis by the end of 2027 remain firm. Due to the Group’s overall sales and earnings trends, the full effects are not yet reflected in the Group’s earnings performance. However, the underlying profitability is positive. Profit after financial items totalled MSEK 126 (288). Earnings were impacted by non-recurring items of MSEK -273 (-119). Profit after financial items excluding these non-recurring items amounted to MSEK 399 (407). Profit after tax amounted to MSEK 63 (161). The tax rate for the period was negatively impacted by the high costs associated with the discontinued implemen - tation of a new ERP system as a non-recurring effect in the third quarter. The normalised tax rate for the ITAB Group, excluding non-recurring items, is approximately 28 percent. Earnings per share before and after dilution totalled SEK 0.18 (0.56). Refer to Note 8 on page 15 for information about select- ed profit items per quarter and for full-year 2025 on a pro forma basis to illustrate the financial effects of the acquisition of HMY. Cash flow, financing and liquidity Cash flow from operating activities amounted to MSEK -168 (-9) for the third quarter and MSEK -66 (-36) for the full reporting period. This follows the normal seasonal patterns as the latter part of the third quarter are strong sales months, which has resulted in a grad - ual build-up of accounts receivable. Cash conversion for the most recent 12-month period amounted to 68 percent. Net debt on the balance sheet date on 30 Septem - ber 2026 excluding lease liabilities amounted to MSEK 2,777 (3,070). Net debt/EBITDA excluding IFRS 16 ratio for the most recent 12-month period amounted to 2.6. Net debt including lease liabilities amounted to MSEK 3,359 (3,726). The Group’s cash and cash equivalents, including granted unutilised credits, amounted to MSEK 1,251 (1,129) on the balance sheet date on 30 September 2026. The equity/assets ratio was 34 percent (33). Investments The Group’s net investments/divestments in the third quarter amounted to MSEK 120 (58), of which net MSEK 46 (0) was attributable to corporate acquisitions/ divestments. For the full reporting period, the Group’s net investments amounted to MSEK 210 (1,672), of Cash flow from operating activities per quarter (left-hand scale) Cash flow from operating activities rolling four quarters (right-hand scale) Net debt per quarter which MSEK 44 (1,463) net was attributable to corporate acquisitions/divestments. One property in Finland was divested during the period, with a capital gain of MSEK 11. In September, ITAB decided to discontinue the ongoing project to implement a new enterprise resource planning system (“ERP”) for the Group. As a result of the decision, previously capitalised assets related to the project will be impaired and a provision for future obligations will be made, resulting in an earnings impact totalling approximately MSEK 250, of which MSEK 222 was charged to operating profit as a non-recurring item during the third quarter of 2026. The impairment and provision will affect the cash flow by approximately MSEK 40 relating to future obligations. Employees The average number of employees was 5,185 (5,251) for the third quarter and 5,177 (5,022) for the full reporting period. Parent Company The Parent Company ITAB Group AB’s operations mainly consist of Group-wide functions. The Parent Company’s net sales pertain to revenue from subsidiaries and amounted to MSEK 63 (72) for the third quarter and MSEK 178 (169) for the reporting period. Profit after financial items totalled MSEK -71 (265) for the quarter and MSEK -71 (269) for the reporting period. Profit includes dividends from subsidiaries of MSEK 174 (268) for the quarter and MSEK 273 (298) for the full reporting period as well as impairment of shares and receivables in subsidiaries of MSEK 200 (0) for both the quarter and the full reporting period. Corporate acquisitions and divestments In August, ITAB’s French subsidiary, HMY SAS, exercised its right to acquire the 35 percent minority holding of shares in its subsidiary, HMY Retail Solutions Netherlands B.V. The purchase consideration for the outstanding minority holding amounted to approximately MEUR 4. Cash flow from investing activities in the third quarter of 2026 was impacted in an amount of MSEK -46. Refer to Note 2 on page 12 for more information. 1,000 800 600 400 200 0 -200 1,000 800 600 400 200 0 -200 DEVELOPMENT & OTHER INFORMATION Other information Risks and uncertainties The Group’s significant risks and uncertainties include strategic risks, operational risks, financial risks, compliance and regulatory risks, and sustainability risks. For a more detailed account of the Group’s significant risks and risk management, refer to pages 24–28 in ITAB’s Annual & Sus- tainability Report for 2025. The Group’s key financial risks are also described in more detail in Note 4 on pages 124–125 in the Annual Report. The risks that are most prominent from a short-term perspective are risks and assessments regarding the integration of HMY, the impact of inflation and the economic climate on customers and suppliers and the continued impact of the changed global geopolitical conditions, with potential supply chain disruptions, possible trade barriers and persistently high prices for raw materials and energy. Estimates and assessments The preparation of this interim report requires management to make assessments and estimates as well as assumptions that affect the application of the accounting policies and the reported amounts of assets, liabilities, revenue and expenses. The actual outcome may deviate from these esti - mates and judgements. Critical assessments and sources of uncertainty in estimates when preparing this interim report are the same as in the most recent Annual Report. Transactions with related parties There have been no transactions between ITAB Group AB and related parties that have significantly affected the company’s position and results during the reporting period. Events after the end of the reporting period No significant events for the Group have taken place after the end of the reporting period. Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 -200 0 200 400 600 800 1000 -1600 0 1600 3200 CASH FLOW FROM OPERATING ACTIVITIES (MSEK) Per quarter Rolling four quarters NET DEBT (MSEK) (excluding lease liabilities) 3,200 1,60 0 0 -1,60 0
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6 P.ITAB Group | Interim Report Q3 − 1 January–30 September 2026 Financial targets Growth Average growth in net sales (CAGR) of 4–8 percent per annum over a business cycle. Growth is to be achieved by sustainable organic growth and strategic acquisitions. Outcome for 2025: +94 percent Earnings Average EBIT margin (operating profit in relation to net sales) of 7–9 percent over a business cycle. Outcome for 2025: 4.5 percent 4–8% SALES GROWTH 7–9% EBIT MARGIN >80% CASH CONVERSION >30% PROPORTION OF PROFIT AFTER TAX Capital efficiency Average cash conversion ratio (operational cash flow in relation to operating profit before depreciation and amorti - sation) of at least 80 percent over a business cycle. Outcome for 2025: 72 percent Dividend policy Dividends over a longer period should follow the result and correspond to at least 30 percent of the Group’s profit after tax. However, dividends will be adjusted to the Group’s investment requirements and any share repurchase program. Outcome for 2025: No dividend Auditor’s review report To the Board of Directors of ITAB Group AB (publ) Corp. reg. no.: 556292-1089 Introduction We have reviewed the condensed interim financial information (interim report) for ITAB Group AB (publ) as of 30 September 2026 and the nine-month period then ended. The Board of Directors and the CEO are responsible for the preparation and presentation of this interim report in accordance with IAS 34 and the Swedish Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on our review. Scope and focus of the review We have conducted our review in accordance with the International Standard on Review Engagements Review of Interim Financial Statements Performed by the Independent Auditor of the Entity (ISRE 2410). A review consists of making inquiries, primarily to persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review has a different focus and a substantially more limited scope compared with the focus and scope of an audit conducted in accordance with the International Standards on Auditing and other generally accepted auditing standards. The procedures performed in a review do not enable us to obtain a level of assurance that would make us aware of all significant circumstances that might be identified in an audit. Therefore, the conclusion expressed on the basis of a review does not provide the same level of assurance as a conclusion expressed on the basis of an audit. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the interim report for the Group has not, in all material aspects, been compiled in accordance with IAS 34 and the Swedish Annual Accounts Act, and the interim re - port for the Parent Company, in accordance with the Swedish Annual Accounts Act. Jönköping, 3 November 2026 Ernst & Young AB Franz Lindström Authorised Public Accountant AUDITOR'S REVIEW REPORT & FINANCIAL TARGETS
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7 P.ITAB Group | Interim Report Q3 − 1 January–30 September 2026 The Group in summary Income statement Group (MSEK) Note 3 months Jul–Sep 2026 3 months Jul–Sep 2025 9 months Jan–Sep 2026 9 months Jan–Sep 2025 Rolling 12 months as of 30 Sep 2026 Full year Jan–Dec 2025 Revenue from contracts with customers 3 3,397 3,297 9,520 9,358 12,942 12,780 Costs of goods sold -2,569 -2,494 -7,192 -7,061 -9,893 -9,762 Gross profit 828 803 2,328 2,297 3,049 3,018 Selling expenses -446 -415 -1,344 -1,245 -1,779 -1,680 Administrative expenses -381 -177 -716 -573 -871 -728 Other operating income and expenses 5 9 18 -13 1 -30 Operating profit 6 220 286 466 400 580 Financial income 4 4 11 18 17 24 Financial expenses 4 -66 -57 -171 -196 -235 -260 Profit after financial items -56 167 126 288 182 344 Tax expenses -12 -68 -63 -127 -122 -186 Net profit for the period -68 99 63 161 60 158 Net profit for the period attributable to: Parent Company shareholders -75 91 45 143 33 131 Non-controlling interests 7 8 18 18 27 27 Depreciation and amortisation for the period amount to 328 127 579 371 712 504 Tax expenses for the period account for N/A 41% 50% 44% 67% 54% Earnings per share before dilution, SEK -0.29 0.36 0.18 0.56 0.13 0.51 Earnings per share after dilution, SEK 5.6 -0.29 0.36 0.18 0.56 0.13 0.51 Average number of ordinary shares outstanding, thousands 5, 6 255,276 255,276 255,276 254,248 255,276 254,485 Average number of ordinary shares outstanding after dilution, thousands 5, 6 256,962 255,276 256,962 254,248 256,962 255,809 Number of ordinary shares outstanding, thousands 5, 6 255,276 255,276 255,276 255,276 255,276 255,276 FINANCIAL STATEMENTS
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8 P.ITAB Group | Interim Report Q3 − 1 January–30 September 2026 Statement of other comprehensive income Group (MSEK) Note 3 months Jul–Sep 2026 3 months Jul–Sep 2025 9 months Jan–Sep 2026 9 months Jan–Sep 2025 Rolling 12 months as of 30 Sep 2026 Full year Jan–Dec 2025 Net profit for the period -68 99 63 161 60 158 Other comprehensive income Items that will not be reclassified to the income statement Revaluation of defined-benefit pension commitments – – – – -3 -3 Tax relating to items not to be reclassified – – – – 1 1 – – – – -2 -2 Items that may be reclassified to the income statement Translation differences 1 18 -13 114 -100 107 -107 Hedging of net investments, net 4 -5 7 -9 -8 2 3 Cash flow hedges, net 4 29 15 43 -21 58 -6 Tax on items that may be reclassified -5 -4 -7 6 -12 1 37 5 141 -123 155 -109 Total other comprehensive income after tax 37 5 141 -123 153 -111 Comprehensive income for the period -31 104 204 38 213 47 Comprehensive income for the period attributable to: Parent Company shareholders -43 96 170 38 171 39 Non-controlling interests 12 8 34 0 42 8 (MSEK) Note 30 Sep 2026 30 Sep 2025 31 Dec 2025 Assets Non-current assets Intangible assets Goodwill 3,950 3,803 3,897 Other intangible assets 1,019 1,247 1,239 4,969 5,050 5,136 Property, plant and equipment 1,866 1,941 1,935 Deferred tax assets 223 184 161 Financial assets 76 73 84 Total non-current assets 7,134 7,248 7,316 Current assets Inventories 1,765 1,588 1,320 Current receivables 3,581 3,498 2,865 Cash and cash equivalents 807 516 971 Total current assets 6,153 5,602 5,156 Total assets 13,287 12,850 12,472 Statement of financial position Group (MSEK) Note 30 Sep 2026 30 Sep 2025 31 Dec 2025 Equity and liabilities Equity attributable to Parent Company shareholders 5, 6 4,351 4,170 4,174 Non-controlling interests 191 134 218 Deferred tax liabilities 265 297 279 Other non-current liabilities 4 3,763 3,846 3,671 Current liabilities 4 4,717 4,403 4,130 Total equity and liabilities 13,287 12,850 12,472 Interest-bearing net debt 3,359 3,726 3,019 Interest-bearing net debt excl. lease liabilities 2,777 3,070 2,332 FINANCIAL STATEMENTS
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9 P.ITAB Group | Interim Report Q3 − 1 January–30 September 2026 Statement of changes in equity Group (MSEK) Note Share capital Other contributed capital Other reserves 1) Profit brought forward Attributable to Parent Company shareholders Attributable to non-controlling interests Total equity Equity as of 1 January 2025 109 1,911 226 1,882 4,128 134 4,262 Net profit for the period 143 143 18 161 Other comprehensive income -105 -105 -18 -123 Comprehensive income January−September 2025 -105 143 38 0 38 Dividends -29 -29 Acquisition and divestment partly owned companies 2 29 29 Share incentive program 6 -7 -10 -17 -17 Sale of own ordinary shares 6 24 24 24 Share issue costs 5 -3 -3 -3 Equity as of 30 September 2025 109 1,901 121 2,039 4,170 134 4,304 Net profit for the period -12 -12 9 -3 Other comprehensive income 15 -2 13 -1 12 Comprehensive income October−December 2025 15 -14 1 8 9 Dividends -2 -2 Acquisition and divestment partly owned companies 2 78 78 Share incentive program 6 3 3 3 Equity as of 31 December 2025 109 1,904 136 2,025 4,174 218 4,392 Equity as of 1 January 2026 109 1,904 136 2,025 4,174 218 4,392 Net profit for the period 45 45 18 63 Other comprehensive income 125 125 16 141 Comprehensive income January−September 2026 125 45 170 34 204 Dividends -14 -14 Acquisition of non-controlling interests 2 0 0 -47 -47 Share incentive program 6 7 7 7 Equity as of 30 September 2026 109 1,911 261 2,070 4,351 191 4,542 1) Other reserves consist of translation reserve and hedging reserve. FINANCIAL STATEMENTS
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10 P.ITAB Group | Interim Report Q3 − 1 January–30 September 2026 Statement of cash flows Group (MSEK) Note 3 months Jul–Sep 2026 3 months Jul–Sep 2025 9 months Jan–Sep 2026 9 months Jan–Sep 2025 Rolling 12 months as of 30 Sep 2026 Full year Jan–Dec 2025 Operating profit 6 220 286 466 400 580 Depreciation and amortisation 328 127 579 371 712 504 Interest received and paid -48 -42 -139 -153 -195 -209 Tax paid and other items not included in the cash flow -89 -28 -149 -24 -153 -28 Cash flow from operating activities before change in working capital 197 277 577 660 764 847 Change in working capital Change in inventories -107 -44 -402 -178 -202 22 Change in operating receivables -435 -288 -547 -560 -22 -35 Change in operating liabilities 177 46 306 42 215 -49 Cash flow from change in working capital -365 -286 -643 -696 -9 -62 Cash flow from operating activities -168 -9 -66 -36 755 785 Investing activities Acquisition/divestment of companies and operations 2 -46 0 -44 -1,463 -54 -1,473 Sale of properties – – 31 – 31 – Other net investments -74 -58 -197 -209 -281 -293 Cash flow from investing activities -120 -58 -210 -1,672 -304 -1,766 Cash flow after investing activities -288 -67 -276 -1,708 451 -981 Financing activities Dividends to non-controlling interests -9 -3 -14 -29 -16 -31 Repayment of lease liabilities -42 -44 -127 -126 -172 -171 Cash flow from other financing activities 296 162 209 848 96 735 Cash flow from financing activities 245 115 68 693 -92 533 Cash flow for the period -43 48 -208 -1,015 359 -448 Cash and cash equivalents at the start of the period 844 422 971 1,513 516 1,513 Translation differences on cash and cash equivalents 6 46 44 18 -68 -94 Cash and cash equivalents at the end of the period 807 516 807 516 807 971 Cash flow from operating activities per share, SEK -0.66 -0.03 -0.26 -0.14 2.96 3.08 FINANCIAL STATEMENTS
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11 P.ITAB Group | Interim Report Q3 − 1 January–30 September 2026 Income statement Parent Company (MSEK) Note 3 months Jul–Sep 2026 3 months Jul–Sep 2025 9 months Jan–Sep 2026 9 months Jan–Sep 2025 Full year Jan–Dec 2025 Net sales 1) 63 72 178 169 257 Costs of goods sold -6 -9 -27 -20 -27 Gross profit 57 63 151 149 230 Selling expenses -19 -31 -92 -97 -150 Administrative expenses -41 -31 -104 -109 -132 Other operating income and expenses 4 -4 7 -6 -12 Operating profit 1 -3 -38 -63 -64 Profit from participations in Group companies -26 268 73 298 284 Financial income and expenses 4 -46 0 -106 34 53 Profit after financial items -71 265 -71 269 273 Year-end appropriations – – – – 68 Profit before tax -71 265 -71 269 341 Tax expenses for the period 0 0 0 2 -13 Net profit for the period -71 265 -71 271 328 1) Pertains to revenue from subsidiaries. The Parent Company in summary Statement of other comprehensive income Parent Company (MSEK) Note 3 months Jul–Sep 2026 3 months Jul–Sep 2025 9 months Jan–Sep 2026 9 months Jan–Sep 2025 Full year Jan–Dec 2025 Net profit for the period -71 265 -71 271 328 Other comprehensive income – – – – – Comprehensive income for the period -71 265 -71 271 328 Balance sheet Parent Company (MSEK) Note 30 Sep 2026 30 Sep 2025 31 Dec 2025 Assets Non-current assets Property, plant and equipment 2 3 3 Financial assets 5,592 5,558 5,511 Deferred tax assets 6 21 5 Total non-current assets 5,600 5,582 5,519 Current assets Current receivables 776 663 530 Cash and bank balance 122 0 171 Total current assets 898 663 701 Total assets 6,498 6,245 6,220 Equity and liabilities Equity Restricted equity 116 116 116 Non-restricted equity 2,515 2,529 2,586 Total equity 5, 6 2,631 2,645 2,702 Non-current liabilities 3,073 3,046 2,888 Current liabilities 794 554 630 Total equity and liabilities 6,498 6,245 6,220 FINANCIAL STATEMENTS
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12 P.ITAB Group | Interim Report Q3 − 1 January–30 September 2026 Notes Note 2 Corporate acquisitions and divestments Acquisitions and divestments in 2026 In August 2026, ITAB’s French subsidiary, HMY SAS, exercised its right to acquire the minority's 35 percent holding of shares in its subsidiary, HMY Retail Solutions Netherlands B.V. The purchase consideration for the outstanding minority holding amounted to approximately MEUR 4. For acquisitions, the entity approach is applied, which means that all assets and liabilities as well as income and expenses are included in their entirety on the initial acquisition date, including for partly owned subsidiaries, and no additional goodwill is therefore linked to the acquisition. The difference between valued non- controlling interests prior to acquisition and the purchase consideration is recognised directly in equity attributable to Parent Company shareholders. Cash flow from investing activities in the third quarter of 2026 was impacted in an amount of MSEK -46. Cash flow for the period was also affected by the settlement of acquisitions in prior years by MSEK +2. Acquisitions in 2025 Acquisition of Financière HMY SAS On 25 September 2024, ITAB agreed to acquire all shares in Financière HMY SAS for a cash consideration of MEUR 320 on a cash and debt free basis. HMY is a leading European supplier of shop fittings, checkouts and store design to the retail industry, primarily in Europe, South America and the Middle East. The aim of the acquisition is to strengthen ITAB’s position and complement the Group’s current offer - ing. The acquisition was financed with a combination of new debt and equity. As a result, ITAB obtained a binding commitment letter regarding debt financing compris - ing MEUR 255 in long-term credit facilities and a MEUR 100 revolving credit facility. For more information about financing through equity, refer to Note 27 in ITAB’s Annual & Sustainability Report for 2025. With a final and definitive share purchase agreement entered into on 5 December 2024 and the other conditions for the transaction fulfilled, the acquisition was completed on 31 January 2025. The purchase consideration was paid in connection with the closing of the transaction, and consequently, the previous - ly obtained debt financing commitments were converted into loans. HMY is consolidated in the ITAB Group as of 1 February 2025. The operations of the former HMY Group had combined sales of approximately MEUR 600 for full- year 2025. Expenses in connection with the transaction are reported on an ongoing basis as costs in profit or loss and are included in reported non-recurring items. purchase consideration of a maximum of MSEK 9.5 based on the company’s performance over the next two years. The purchase consideration was paid on the acquisition date and costs related to the acquisition are reported as expens - es on an ongoing basis. The acquisition is consolidated from 31 December 2025 and had a marginal impact on the Group’s earnings per share. The acquisition affected the Group’s cash flow for 2025 by MSEK 10. These two acquisitions are not individually of material sig - nificance, which is why they are reported jointly. Acquired net assets at preliminarily estimated fair values amounted to MSEK 47 on the acquisition dates, of which goodwill was MSEK 29. Goodwill mainly consists of know-how and person - nel. For more information, refer to Note 5 in ITAB’s Annual & Sustainability Report for 2025. Divestments in 2025 In connection with the restructurings in the Group, ITAB sold 100 percent of its shares in the company La Fortezza Asia Sdn Bhd in Malaysia through a subsidiary in April 2025. On the divestment date, the company had seven employees. The effect on earnings including accumulated currency translation differences amounted to MSEK -1 and was recognised as a non-recurring item in the second quarter of 2025. The divestment had an impact of MSEK 1 on cash flow in the quarter. HMY Group on the acquisition date Fair value, MSEK Intangible assets 975 Property, plant and equipment 947 Deferred tax assets 86 Financial assets 8 Inventories 660 Accounts receivable 1,312 Other current assets 856 Deferred tax liabilities -257 Non-current liabilities incl. provisions and lease liabilities -2,380 Current liabilities incl. lease liabilities -2,498 Net identifiable assets and liabilities -291 Non-controlling interests -107 Group goodwill 2,124 Estimated purchase consideration 1,726 Less net cash and cash equivalents in the acquired companies and non-cash items -262 Impact on the Group’s cash and cash equivalents on the acquisition date 1,464 Note 1 Accounting policies ITAB applies the International Financial Reporting Standards as adopted by the EU (IFRS® Accounting Standards). This interim report has been prepared in accordance with IAS 34 Interim Financial Reporting , relevant sections of the Swedish Annual Accounts Act, and the Swedish Corporate Reporting Board’s recommendation RFR 1 Supplementary Accounting Rules for Groups and RFR 2 Accounting for Legal Entities. The accounting policies applied correspond with the accounting policies used in the preparation of the most recent Annual & Sustainability Report. The International Accounting Standards Board (IASB) has issued a new standard which will take effect as of 1 January 2027, IFRS 18 Presentation and Disclosure in Financial State - ments (published on 9 April 2024 and approved by the EU on 13 February 2026). ITAB is currently evaluating the effects of the implementation of IFRS 18. The standard is primarily expected to affect the presentation of and disclosure requirements in the financial statements. IAS 29 Financial Reporting in Hyperinflationary Economies Argentina’s economy is considered to have been in a state of hyperinflation since 1 July 2018. Following the devaluation of the Argentinian peso in autumn 2023, the financial state - ments for ITAB’s subsidiary in Argentina have been adjusted to correct for the effects of inflation in accordance with IAS 29 Financial Reporting in Hyperinflationary Economies . Fol- lowing the acquisition of HMY, the ITAB Group also includes companies in Türkiye. Türkiye is considered a hyperinfla - tionary economy and is reported in the same manner as Argentina. Refer to Note 35 in ITAB’s Annual & Sustainability Report for 2025 for further information. Adjustments for inflation have been made in accor - dance with the Argentinian consumer price index (National CPI). The forecast base consumer price index at 30 September 2026 was 12,497.78. The consumer price adjust- ment index at 30 September 2025 was 9,193.2. Türkiye’s con- sumer price index with a new base year of 2025 was 137.23 at 30 September 2026 and 105.78 at 30 September 2025. At the time of the acquisition of HMY, the consumer price index with a new base year of 2025 was 88.58 at 1 February 2025 (previously 2,819.65 with a base year of 2003). Effect of the acquisition of the shares in HMY 2025 Fair values of acquired assets and liabilities, purchase considerations and the impact on the Group’s cash and cash equivalents according to acquisition analyses are presented in the table above. Goodwill arising in the trans - action primarily comprised the value of expected synergies and the value of the employees, which are not recognised separately. Final payment of the purchase consideration is expected to take place in 2026. Refer to Note 8 on page 15 for information about selected profit items per quarter and for full-year 2025 on a pro forma basis to illustrate the financial effects of the acquisition. Other acquisitions in 2025 Since 2022, Signatrix GmbH, a technology and retail AI start-up, and ITAB have together created frictionless security deterrents that reduce thefts and shrinkage for the retail sector. ITAB acquired an 18 percent minority holding in Signatrix in 2024 and the remaining 82 percent of the shares in the company was acquired through a subsidiary in May 2025. On the acquisition date, Signatrix had 17 employees. The company is consolidated in the ITAB Group as of June 2025. The impact on the Group’s cash and cash equivalents on the acquisition date was MSEK 0. To strengthen its position in solution-based design for the retail sector, ITAB acquired all of the shares in the design agency Blink AB through a subsidiary in December 2025. On the acquisition date, Blink had sales of MSEK 13 and the average number of employees was six. The purchase consideration amounted to MSEK 16, with an additional NOTES
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13 P.ITAB Group | Interim Report Q3 − 1 January–30 September 2026 Sales by geographic area 2) 3 months Jul–Sep 2026 3 months Jul–Sep 2025 9 months Jan–Sep 2026 9 months Jan–Sep 2025 Rolling 12 months as of 30 Sep 2026 Full year Jan–Dec 2025 Southern Europe 1,595 1,496 4,651 4,309 6,265 5,923 Central Europe 398 485 1,144 1,281 1,602 1,739 Northern Europe 428 306 1,292 1,115 1,708 1,531 UK & Ireland 248 266 655 748 941 1,034 Eastern Europe 223 245 631 744 887 1,000 Rest of the World 505 499 1,147 1,161 1,539 1,553 Total 3,397 3,297 9,520 9,358 12,942 12,780 1) The customer groups are divided according to the industries in which the customers operate. Other customer groups largely consist of distributors, consumer electronics, sports & leisure, service stations and hotels. 2) Southern Europe consists mainly of Spain, France, Italy and Portugal. Central Europe’s largest markets are Germany, the Netherlands and Czechia. Northern Europe consists of the Nordic countries. Eastern Europe’s largest markets are the Baltic countries, Poland, Romania, Slovakia and Türkiye. Rest of the World comprises all countries outside Europe, with Australia, the US, Brazil, Chile and Peru accounting for just over 50 percent of sales. Sales by customer group 1) 3 months Jul–Sep 2026 3 months Jul–Sep 2025 9 months Jan–Sep 2026 9 months Jan–Sep 2025 Rolling 12 months as of 30 Sep 2026 Full year Jan–Dec 2025 Grocery 1,682 1,612 4,902 4,686 6,630 6,414 Fashion/Apparel 356 450 1,014 1,106 1,371 1,463 DIY/Home Improvements 376 344 943 911 1,355 1,323 Health & Beauty 236 235 641 634 876 869 Other customer groups 747 656 2,020 2,021 2,710 2,711 Total 3,397 3,297 9,520 9,358 12,942 12,780 Revenue recognition takes place when the Group satisfies a performance obligation by transferring promised goods and the customer gains control of the asset. This normally takes place on delivery in accordance with applicable delivery terms. In the case of concept sales where a service assignment is included, revenue recognition for the projects takes place over time. The projects are primarily short-term projects. Note 4 Financial assets and liabilities ITAB has derivative instruments measured at fair value. The derivative instruments consist of currency derivatives and interest rate derivatives and are used for hedging purposes. These derivative instruments are classified in level 2 in ac - cordance with IFRS 13 and fair value is calculated through discounted future cash flows according to the terms of the contracts and maturity dates, with all variables, such as discount rates and exchange rates, taken from market quotations for calculations. The effective portion of the change in the fair value of derivatives that are designated as hedging instruments is recognised in other comprehensive income. Any ineffective - ness is recognised immediately in net financial items in the income statement. Additional purchase considerations are recognised as financial liabilities and classified in level 3 (according to IFRS 13). These are dependent on parameters in the respective agreements, which are mainly linked to the expected earn - ings for the acquired companies over the next few years. Additional purchase considerations have been reported at assessed value and revaluation is carried out in the income statement. The ITAB Group also holds bonds not used for hedging purposes. These are measured at fair value and the change is recognised in net financial items in the income statement. Carrying amount is considered to be a reasonable esti - mate of fair value for all financial assets and liabilities. No financial assets and liabilities have been moved between the valuation categories and the valuation techniques are unchanged during the year. For other information, refer to the latest Annual Report. NOTES The largest customer accounted for approximately 8 percent of external sales in the reporting period. None of the Group’s other customers accounted for more than 5 percent of sales. Note 3 Revenue from contracts with customers by customer group and geographic area
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14 P.ITAB Group | Interim Report Q3 − 1 January–30 September 2026 Number of ordinary shares after dilution 3 months Jul–Sep 2026 3 months Jul–Sep 2025 9 months Jan–Sep 2026 9 months Jan–Sep 2025 Full year Jan–Dec 2025 Number of ordinary shares outstanding at the start of the period 255,275,518 255,275,518 255,275,518 253,220,533 253,220,533 Conversion of Class C shares to ordinary shares 1) – – – 2,054,985 2,054,985 Number of ordinary shares outstanding at the end of the period 255,275,518 255,275,518 255,275,518 255,275,518 255,275,518 Effect of LTIP 2025 and LTIP 2026 1,686,811 – 1,686,811 – 1,324,332 Number of ordinary shares outstanding after dilution 256,962,329 255,275,518 256,962,329 255,275,518 256,599,850 Average number of ordinary shares outstanding 255,275,518 255,275,518 255,275,518 254,248,026 254,485,139 Average number of ordinary shares outstanding after dilution 256,962,329 255,275,518 256,962,329 254,248,026 255,809,471 1) Pertains to the conversion of 2,054,985 Class C shares into ordinary shares in connection with the conclusion of LTIP 2022 in the second quarter of 2025. For more information, see above. Note 6 Share incentive program and number of ordinary shares after dilution Share incentive program 2026 The AGM on 6 May 2026 resolved on a long-term incentive program for senior executives and other key individuals (LTIP 2026) extending from May 2026 until May 2029. Assuming that the participant has invested in shares in the company (savings shares), they have been allotted one matching share right and three to five performance share rights for each savings share, depending on the participant category. The share rights were allotted free of charge, and are subject to a three-year vesting period and are conditional on the participant’s continued employment. The vesting of performance shares is also contingent on fulfilment of applicable performance conditions pertaining to annual organic growth, the adjusted EBIT margin, the company’s cash conversion and the company’s return on invested capital (ROIC), measured as an average over the 1 January 2026–31 December 2028 measurement period. The number of performance shares vested depend on the extent to which the performance conditions are fulfilled. Share incentive program 2025 The AGM on 7 May 2025 resolved on a long-term incentive program for senior executives and other key individuals (LTIP 2025) extending from May 2025 until May 2028. Assuming that the participant has invested in shares in the company (savings shares), they have been allotted two matching share rights and two to four performance share rights for each savings share, depending on the participant category. The share rights were allotted free of charge, and are subject to a three-year vesting period Note 5 New issue of Class C shares New issue of Class C shares in 2025 On 16 December 2025, with the support of the authorisation from the Annual General Meeting (AGM) on 7 May 2025, ITAB’s Board of Directors resolved to carry out a directed cash issue of 611,000 Class C shares at a subscription price corresponding to the quotient value of the shares. Moreover, the Board of Directors resolved to immediately repurchase all 611,000 Class C shares at the same price. The purpose of the issue and repurchase is to secure delivery of ordinary shares to the employees who are participants in the Group’s long-term incentive program for senior exec - utives and other key individuals (LTIP 2025) by ITAB subse - quently converting the Class C shares into ordinary shares. After this new share issue, the total number of shares amounts to 258,231,533, of which 255,275,518 are ordinary shares and 2,956,015 are Class C shares. All ordinary shares entitle the holder to an equal share of ITAB’s assets and earnings, and entitle holders to one vote per share at gen - eral meetings of shareholders. The Class C shares do not carry the right to any dividend and entitle the holder to 1/10 of a vote each. NOTES and are conditional on the participant’s continued employment. The vesting of performance shares is also contingent on fulfilment of applicable performance conditions pertaining to annual organic growth, the adjusted EBIT margin and the company’s cash conversion, measured as an average over the 1 January 2025–31 December 2027 measurement period. The number of performance shares vested depend on the extent to which the performance conditions are fulfilled. As of 30 September 2026, a total of 3,068,240 matching share rights and performance share rights were outstanding, which corresponds to 1.2 percent of the shares in the company after dilution. Termination of share incentive program 2022 The 2022 AGM resolved on a long-term incentive program for senior executives and other key individuals (LTIP 2022) extending from June 2022 until June 2025. The program ended in the second quarter of 2025. As a result, 2,054,985 Class C shares were converted to ordinary shares, and 1,043,671 ordinary shares were thereafter conveyed to the participants and the remaining 1,011,314 ordinary shares were conveyed on Nasdaq Stockholm to cover part of the costs for the program. For more information about LTIP 2025 and LTIP 2022, refer to Note 8 in ITAB’s Annual & Sustainability Report for 2025. Recognition of LTI programs The Group and the Parent Company recognise the LTI programs in accordance with IFRS 2 Share-based Payment . The fair value of allocated share rights is recognised as a personnel cost with a corresponding increase of equity. Fair value was calculated at the time of allocation and is distributed over the vesting period. The cost recognised corresponds to the fair value of an estimate of the number of shares expected to be vested taking into account service conditions and performance conditions. This cost is adjust - ed in subsequent periods to ultimately reflect the actual number of shares vested. However, an adjustment is not made when forfeiture is only due to market conditions and/ or conditions that are not vesting conditions not being met. Social security contributions attributable to share-based instruments for employees as remuneration for purchased services are expensed distributed over the periods in which the services are rendered. Provisions for social security contributions are based on the fair value of the share rights on the reporting date. For calculation of the number of ordinary shares after dilution, the average number of shares is adjusted taking into account the effects of dilutive potential ordinary shares, which, during the reporting periods in question, comprised rights to receive shares in ITAB within the framework of LTI programs. As of 30 September 2026, only matching share rights held by employees within the framework of LTIP 2025 and LTIP 2026 are considered dilutive, while the right to receive shares with performance conditions are not consid - ered dilutive since the set performance targets are yet to be met. Adjustment of the number of dilutive shares is based on the hypothetical number of shares that could have been purchased with the value of remaining positions within the framework of the incentive program. Holding of own shares in treasury At 30 September 2026, ITAB held no ordinary shares in trea - sury. All 2,956,015 Class C shares were held in treasury. Note 7 Pledged assets and contingent liabilities For pledged assets and contingent liabilities, refer to the Group’s Annual & Sustainability Report for 2025 since no other major changes have taken place to date in 2026.
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15 P.ITAB Group | Interim Report Q3 − 1 January–30 September 2026 The acquisition of HMY was completed on 31 January 2025, and the company is consolidated in the ITAB Group as of 1 February 2025. To illustrate the financial effects of the acqui - sition and to facilitate comparisons with the preceding year, selected profit items per quarter and for the full-year 2025 are presented on a pro forma basis below, including HMY as of 1 January 2025. Note 8 Combined pro forma financial information for the ITAB Group including HMY for 2025, excluding non-recurring items First quarter Second quarter Third quarter 9 months Fourth quarter Full year Outcome Pro forma 1) Outcome Outcome Outcome Outcome Outcome Pro forma Outcome Outcome Pro forma 1) (MSEK) Jan−Mar 2026 Jan−Mar 2025 Δ Apr−Jun 2026 Apr−Jun 2025 Δ Jul−Sep 2026 Jul−Sep 2025 Δ Jan−Sep 2026 Jan−Sep 2025 Δ Oct−Dec 2025 Rolling 12 months as of 30 Sep 2026 Jan−Dec 2025 Δ Revenue from contracts with customers 2,922 3,308 -12% 3,201 3,242 -1% 3,397 3,297 +3% 9,520 9,847 -3% 3,422 12,942 13,270 -2% Costs of goods sold 2) -2,179 -2,488 -2,424 -2,456 -2,565 -2,491 -7,168 -7,435 -2,686 -9,854 -10,122 Gross profit 2) 743 820 -9% 777 786 -1% 832 806 +3% 2,352 2,412 -2% 736 3,088 3,148 -2% Gross margin, % 25.4% 24.8% 24.3% 24.2% 24.5% 24.4% 24.7% 24.5% 21.5% 23.9% 23.7% Selling and administrative expenses 2) -595 -633 -6% -618 -609 +1% -589 -573 +3% -1,802 -1,815 -1% -538 -2,340 -2,353 -1% Other operating income and expenses -1 1 N/A 5 -18 N/A 5 9 -44% 9 -8 N/A -17 -8 -25 -68% EBITA 2) 164 204 -20% 180 175 +3% 266 258 +3% 610 637 -4% 199 809 835 -3% EBITA margin 5.6% 6.2% 5.6% 5.4% 7.8% 7.8% 6.4% 6.5% 5.8% 6.2% 6.3% EBITDA 2) 274 320 -14% 288 291 -1% 376 369 +2% 938 980 -4% 314 1,252 1,294 -3% EBITDA margin 9.4% 9.7% 9.0% 9.0% 11.1% 11.2% 9.9% 10.0% 9.2% 9.7% 9.8% 1) Pro forma for the combined Group including HMY for three months (January–March) in the first quarter of 2025 and 12 months (January–December) in 2025. 2) Excluding non-recurring items. See pages 2 and 4–5 and the consolidated income statement on page 7 for information about gross profit, EBITDA, EBITA and operating profit including non-recurring items for ITAB in each quarter of 2026 and 2025 and for full-year 2025. Non- recurring items in the third quarter of 2026 amounted to MSEK -242 pertaining to integration and restructuring costs (MSEK -20), and a provision for future obligations and impairment of intangible assets following the discontinued implementation of the new ERP system (MSEK -222). Total non-recurring items for each quarter of 2025 for the consolidated ITAB Group amounted to MSEK -55, MSEK -39, MSEK -22 and MSEK -67, respectively, and pertained primarily to acquisition and integration costs in connection with the acquisition of HMY as well as a provision of MSEK -27 for a customer reclaim in the fourth quarter. Refer also to Note 9 below. NB: All items below exclude non-recurring items. The com - bined financial information has not been reviewed by the company's auditors.. Note 9 Non-recurring items The Group’s earnings were charged with non-recurring costs in accordance with the below. These primarily consist of acquisition and integration costs in conjunction with the acquisition of HMY. In the first quarter of 2026, one property was divested with a capital gain of MSEK 11. Earnings for the third quarter of 2026 were charged with a provision for future obligations and impairment of intangible assets in a total of MSEK 222 following the discontinued implementa - tion of a new ERP system. Refer also to page 5. Of the acquisition costs for the 2025 financial year, MSEK 3 was attributable to the early repayment of bank loans in conjunction with the acquisition of HMY in the first quarter. Non-recurring items, MSEK 3 months Jul–Sep 2026 3 months Jul–Sep 2025 9 months Jan–Sep 2026 9 months Jan–Sep 2025 Rolling 12 months as of 30 Sep 2026 Full year Jan–Dec 2025 Acquisition costs – -4 -7 -61 -11 -65 Integration and restructuring costs -20 -18 -55 -57 -91 -93 Capital loss on divestment of Group companies – – – -1 – -1 Provision for customer reclaim – – – – -27 -27 Capital gain on property sales – – +11 – +11 – Discontinued implementation of new ERP system -222 – -222 – -222 – Total non-recurring items -242 -22 -273 -119 -340 -186 Impact of non-recurring items on the income statement, MSEK 3 months Jul–Sep 2026 3 months Jul–Sep 2025 9 months Jan–Sep 2026 9 months Jan–Sep 2025 Rolling 12 months as of 30 Sep 2026 Full year Jan–Dec 2025 Costs of goods sold -4 -3 -24 -5 -39 -20 Selling and administrative expenses -238 -19 -258 -110 -310 -162 Other operating income and expenses 0 0 +9 -1 9 -1 Gross profit -4 -3 -24 -5 -39 -20 EBITDA -42 -22 -73 -116 -140 -183 EBITA -242 -22 -273 -116 -340 -183 Operating profit -242 -22 -273 -116 -340 -183 Profit after net financial items -242 -22 -273 -119 -340 -186 NOTES
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16 P.ITAB Group | Interim Report Q3 − 1 January–30 September 2026 Quarterly overview for the Group Per quarter (MSEK) Jul–Sep 2026 Jul–Sep 2025 Apr−Jun 2026 Apr−Jun 2025 Jan–Mar 2026 Jan–Mar 2025 Oct–Dec 2025 Oct–Dec 2024 Revenue from contracts with customers 3,397 3,297 3,201 3,242 2,922 2,819 3,422 1,771 Costs of goods sold -2,569 -2,494 -2,436 -2,458 -2,187 -2,109 -2,701 -1,304 Gross profit 828 803 765 784 735 710 721 467 Selling expenses -446 -415 -455 -439 -443 -391 -435 -269 Administrative expenses -381 -177 -177 -206 -158 -190 -155 -99 Other operating income and expenses 5 9 5 -19 8 -3 -17 -20 Operating profit 6 220 138 120 142 126 114 79 Financial items -62 -53 -48 -72 -50 -53 -58 2 Profit after financial items -56 167 90 48 92 73 56 81 Tax expenses -12 -68 -29 -27 -22 -32 -59 -11 Net profit for the period -68 99 61 21 70 41 -3 70 Net profit for the period attributable to: Parent Company shareholders -75 91 55 15 65 37 -12 73 Non-controlling interests 7 8 6 6 5 4 9 -3 Non-recurring items 1), MSEK -242 -22 -26 -39 -5 -55 -67 -27 Operating profit excl. non-recurring items, MSEK 248 242 164 159 147 181 181 106 Operating margin excl. non-recurring items, % 7.3 7.3 5.1 4.9 5.1 6.4 5.3 6.0 Cash flow from operating activities, MSEK -168 -9 -112 -53 214 26 821 323 Earnings per share before dilution 2, 3), SEK -0.29 0.36 0.21 0.06 0.26 0.14 -0.05 0.29 Earnings per share after dilution 2, 3), SEK -0.29 0.36 0.21 0.06 0.26 0.14 -0.05 0.28 Equity per share 2, 3), SEK 17.05 16.33 17.20 15.96 16.90 16.07 16.35 16.30 Return on equity per annum 2), % N/A 8.8 5.0 1.5 6.2 3.6 N/A 7.5 Share price at the end of the period, SEK 16.72 16.92 14.22 22.95 13.64 20.30 17.60 20.90 1) Refer to Note 9 on page 15 for information about non-recurring items for 2026 and 2025. 2) Including Discontinued Operations. 3) Refer to Note 6 on page 14 for information about the number of shares after dilution. QUARTERLY OVERVIEW
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17 P.ITAB Group | Interim Report Q3 − 1 January–30 September 2026 Full-year overview for the Group Rolling 12 months as of (MSEK) 30 Sep 2026 30 Jun 2026 31 Mar 2026 31 Dec 2025 30 Sep 2025 30 Jun 2025 31 Mar 2025 31 Dec 2024 Revenue from contracts with customers 12,942 12,842 12,883 12,780 11,129 9,385 7,828 6,585 Costs of goods sold -9,893 -9,818 -9,840 -9,762 -8,365 -7,008 -5,737 -4,728 Gross profit 3,049 3,024 3,043 3,018 2,764 2,377 2,091 1,857 Selling expenses -1,779 -1,748 -1,732 -1,680 -1,514 -1,342 -1,156 -1,000 Administrative expenses -871 -667 -696 -728 -672 -597 -482 -376 Other operating income and expenses 1 5 -19 -30 -33 -44 -29 -22 Operating profit 400 614 596 580 545 394 424 459 Financial items -218 -209 -233 -236 -176 -119 -54 -21 Profit after financial items 182 405 363 344 369 275 370 438 Tax expenses -122 -178 -176 -186 -138 -93 -112 -118 Net profit for the period – Continuing Operations 60 227 187 158 231 182 258 320 Net profit for the period – Discontinued Operations – – – – – – – 1 Net profit for the period 60 227 187 158 231 182 258 321 Net profit for the period attributable to: Parent Company shareholders 33 199 159 131 216 168 248 311 Non-controlling interests 27 28 28 27 15 14 10 10 Non-recurring items 1), MSEK -340 -120 -133 -183 -143 -142 -103 -48 Operating profit excl. non-recurring items, MSEK 740 734 729 763 688 536 527 507 Operating margin excl. non-recurring items, % 5.7 5.7 5.7 6.0 6.2 5.7 6.7 7.7 Cash flow from operating activities, MSEK 755 914 973 785 287 456 586 624 Earnings per share before dilution 2, 3), SEK 0.13 0.78 0.63 0.51 0.85 0.68 1.06 1.38 Earnings per share after dilution 2, 3), SEK 0.13 0.78 0.63 0.51 0.85 0.67 1.05 1.37 Equity per share 2, 3), SEK 17.05 17.20 16.90 16.35 16.33 15.96 16.07 16.30 Return on equity per annum 2), % 0.8 4.7 3.8 3.2 5.4 4.4 6.8 9.0 1) Refer to Note 9 on page 15 for information about non-recurring items for 2026 and 2025. 2) Including Discontinued Operations. 3) Refer to Note 6 on page 14 for information about the number of shares after dilution. FULL-YEAR OVERVIEW
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18 P.ITAB Group | Interim Report Q3 − 1 January–30 September 2026 Key ratios & definitions Key ratios 3 months Jul–Sep 2026 3 months Jul–Sep 2025 9 months Jan–Sep 2026 9 months Jan–Sep 2025 Rolling 12 months as of 30 Sep 2026 Full year Jan–Dec 2025 Revenue from contracts with customers, MSEK 3,397 3,297 9,520 9,358 12,942 12,780 EBITDA, MSEK 334 347 865 837 1,112 1,084 EBITDA margin, % 9.8 10.5 9.1 8.9 8.6 8.5 EBITDA excl. non-recurring items, MSEK 376 369 938 953 1,252 1,267 EBITDA margin excl. non-recurring items, % 11.1 11.2 9.9 10.2 9.7 9.9 EBITA, MSEK 24 236 337 509 469 640 EBITA margin, % 0.7 7.2 3.5 5.4 3.6 5.0 EBITA excl. non-recurring items, MSEK 266 258 610 625 809 823 EBITA margin excl. non-recurring items, % 7.8 7.8 6.4 6.7 6.2 6.4 Operating profit, MSEK 6 220 286 466 400 580 Operating margin, % 0.2 6.7 3.0 5.0 3.1 4.5 Operating profit excl. non-recurring items, MSEK 248 242 559 582 740 763 Operating margin excl. non-recurring items, % 7.3 7.3 5.9 6.2 5.7 6.0 Profit after financial items, MSEK -56 167 126 288 182 344 Profit margin, % N/A 5.1 1.3 3.1 1.4 2.7 Profit after financial items excl. non-recurring items, MSEK 186 189 399 407 522 530 Profit margin excl. non-recurring items, % 5.5 5.7 4.2 4.3 4.0 4.2 Profit after tax, MSEK -68 99 63 161 60 158 Cash flow from operating activities, MSEK -168 -9 -66 -36 755 785 Cash conversion, % N/A N/A N/A N/A 68 72 Earnings per share before dilution, SEK 1) -0.29 0.36 0.18 0.56 0.13 0.51 Earnings per share after dilution, SEK 1) -0.29 0.36 0.18 0.56 0.13 0.51 Cash flow from operating activities per share, SEK -0.66 -0.03 -0.26 -0.14 2.96 3.08 Number of ordinary shares outstanding at the end of the period 255,275,518 255,275,518 255,275,518 255,275,518 255,275,518 255,275,518 Average number of ordinary shares outstanding 255,275,518 255,275,518 255,275,518 254,248,026 255,275,518 254,485,139 Average number of ordinary shares outstanding after dilution 1) 256,962,329 255,275,518 256,962,329 254,248,026 256,962,329 255,809,471 Share price at the end of the period, SEK 16.72 16.92 16.72 16.92 16.72 17.6 0 Balance sheet total, MSEK 13,287 12,850 13,287 12,850 13,287 12,472 Interest-bearing net debt, MSEK 3,359 3,726 3,359 3,726 3,359 3,019 Interest-bearing net debt excl. lease liabilities, MSEK 2,777 3,070 2,777 3,070 2,777 2,332 Equity attributable to Parent Company shareholders, MSEK 4,351 4,170 4,351 4,170 4,351 4,174 Equity per share, SEK 17.05 16.33 17.05 16.33 17.05 16.35 Equity/assets ratio, % 34 33 34 33 34 35 Return on equity per annum, % N/A 8.8 1.4 4.6 0.8 3.2 Return on capital employed per annum, % N/A 10.3 4.3 7.7 4.6 7.1 Return on total capital per annum, % N/A 6.9 2.9 5.3 3.1 4.9 Net debt/EBITDA excl. IFRS 16, multiple 2.6 2.2 Interest-coverage ratio, multiple 0.0 4.2 1.8 2.8 1.9 2.6 Net investments, MSEK 120 58 210 1,672 304 1,766 Net investments excl. corporate acquisitions/divestments, MSEK 74 58 166 209 250 293 Average number of employees 5,185 5,251 5,177 5,022 5,168 5,090 1) Refer to Note 6 on page 14 for information about the number of shares after dilution. KEY RATIOS & DEFINITIONS
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19 P.ITAB Group | Interim Report Q3 − 1 January–30 September 2026 EBITDA (Operating profit before depreciation and amortisation) Operating profit before depreciation, amortisation and impairment of property, plant and equipment and intangible assets. A relevant profit measure to assess the company’s profit trend over time. (MSEK) 3 months Jul–Sep 2026 3 months Jul–Sep 2025 9 months Jan–Sep 2026 9 months Jan–Sep 2025 Rolling 12 months as of 30 Sep 2026 Full year Jan–Dec 2025 Operating profit 6 220 286 466 400 580 Depreciation and amortisation 328 127 579 371 712 504 EBITDA 334 347 865 837 1,112 1,084 Reversal of non-recurring items (refer to Note 9) 42 22 73 116 140 183 EBITDA excl. non-recurring items 376 369 938 953 1,252 1,267 Reversal of IFRS 16 lease expenses -202 -198 EBITDA excl. non-recurring items & IFRS 16 1,050 1,069 EBITA (Operating profit before amortisation of acquisition-related intangible assets) Operating profit before amortisation and impairment of acquisition-related intangible assets. A relevant profit measure to assess the company’s profit trend over time. (MSEK) 3 months Jul–Sep 2026 3 months Jul–Sep 2025 9 months Jan–Sep 2026 9 months Jan–Sep 2025 Rolling 12 months as of 30 Sep 2026 Full year Jan–Dec 2025 Operating profit 6 220 286 466 400 580 Amortisation of acquisition-related intangible assets 18 16 51 43 69 60 EBITA 24 236 337 509 469 640 Reversal of non-recurring items (refer to Note 9) 242 22 273 116 340 183 EBITA excl. non-recurring items 266 258 610 625 809 823 Cash conversion Operational cash flow in relation to EBITDA A relevant measure to assess capital efficiency. This measure is included in ITAB’s financial targets. (MSEK) 3 months Jul–Sep 2026 3 months Jul–Sep 2025 9 months Jan–Sep 2026 9 months Jan–Sep 2025 Rolling 12 months as of 30 Sep 2026 Full year Jan–Dec 2025 Operational cash flow (cash flow from operating activities) -168 -9 -66 -36 755 785 EBITDA 334 347 865 837 1,112 1,084 Cash conversion, % N/A N/A N/A N/A 68 72 Key ratios included in this report derive primarily from the disclosure requirements according to IFRS and the Swedish Annual Accounts Act. In addition, reference is made to a number of performance measures that are not defined in the IFRS regula - tions or directly in the income statement or statement of financial position, with the aim of illustrating the company’s profit trend and financial position and how the company has invested its capital. These financial measures are not always calcu - lated in the same way by all companies. The main alternative performance measures presented in this report are EBITDA, EBITA, cash conversion, interest-bearing net debt and return on equity, capital employed and total capital. The reconciliation of these as well as the definitions of other key ratios can be found below. Alternative performance measures ALTERNATIVE PERFORMANCE MEASURES Interest-bearing net debt Non-current and current interest-bearing liabilities including lease liabilities less interest-bearing assets as well as cash and cash equivalents. A relevant measure to show ITAB’s total loan financing. This measure is included in the covenants in ITAB’s loan agreements with the company’s banks. (MSEK) 3 months Jul–Sep 2026 3 months Jul–Sep 2025 9 months Jan–Sep 2026 9 months Jan–Sep 2025 Rolling 12 months as of 30 Sep 2026 Full year Jan–Dec 2025 Interest-bearing non-current liabilities 3,578 3,676 3,578 3,676 3,578 3,501 Interest-bearing current liabilities 648 616 648 616 648 557 Interest-bearing assets -60 -50 -60 -50 -60 -68 Cash and cash equivalents -807 -516 -807 -516 -807 -971 Interest-bearing net debt 3,359 3,726 3,359 3,726 3,359 3,019 Reversal of interest-bearing lease liabilities -582 -656 -582 -656 -582 -687 Interest-bearing net debt excl. lease liabilities 2,777 3,070 2,777 3,070 2,777 2,332 Return on equity Annualised net profit for the period attributable to the Parent Company’s shareholders in relation to average equity attributable to the Parent Company’s shareholders. This measure shows the return on the shareholders’ capital invested in the ITAB Group. (MSEK) 3 months Jul–Sep 2026 3 months Jul–Sep 2025 9 months Jan–Sep 2026 9 months Jan–Sep 2025 Rolling 12 months as of 30 Sep 2026 Full year Jan–Dec 2025 Annualised net profit attributable to Parent Company shareholders -298 365 60 191 33 131 Equity attributable to Parent Company share- holders 4,351 4,170 4,351 4,170 4,351 4,174 Average equity attributable to Parent Company shareholders 4,371 4,122 4,308 4,111 4,280 4,123 Return on equity, % N/A 8.8 1.4 4.6 0.8 3.2 Return on capital employed Annualised profit after financial items for the period plus financial borrowing costs for the period in relation to average balance sheet total less non interest-bearing liabilities. Relevant measure for assessing ITAB’s efficiency and added value from the business. (MSEK) 3 months Jul–Sep 2026 3 months Jul–Sep 2025 9 months Jan–Sep 2026 9 months Jan–Sep 2025 Rolling 12 months as of 30 Sep 2026 Full year Jan–Dec 2025 Annualised profit after financial items plus financial borrowing costs -10 877 368 592 393 561 Average balance sheet total less non interest-bearing liabilities 8,658 8,481 8,489 7,711 8,511 7,859 Return on capital employed, % N/A 10.3 4.3 7.7 4.6 7.1 Return on total capital Annualised profit after financial items for the period plus financial borrowing costs for the period in relation to average total capital. This measure is relevant for assessing the ability to generate profit on the Group’s assets regardless of financing costs. (MSEK) 3 months Jul–Sep 2026 3 months Jul–Sep 2025 9 months Jan–Sep 2026 9 months Jan–Sep 2025 Rolling 12 months as of 30 Sep 2026 Full year Jan–Dec 2025 Annualised profit after financial items plus financial borrowing costs -10 877 368 592 393 561 Average total capital 13,042 12,707 12,703 11,256 12,732 11,499 Return on total capital, % N/A 6.9 2.9 5.3 3.1 4.9
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20 P.ITAB Group | Interim Report Q3 − 1 January–30 September 2026 Key ratios Definition Motive EBITDA margin/ EBITA margin EBITDA (Operating profit before depreciation, amortisation and impairment of property, plant and equipment and intangible assets) and EBITA (Operating profit before amortisation and impairment of acquisition-related intangible assets) in relation to revenue. Relevant profit measures to assess the company’s profit trend over time. Equity per share Equity at the end of the period attributable to Parent Company shareholders in relation to the number of ordinary shares outstanding at the end of the period. Measure to describe how much equity belongs to the shareholders of the Parent Company. Cash flow from operating activities per share Cash flow from operating activities in relation to the average number of outstanding ordinary shares. This measure highlights ITAB’s ability to generate cash flow and pay dividends to its shareholders. Average number of employees Number of worked hours divided by normal annual working time. This measure shows the size of ITAB’s workforce. Net Debt/EBITDA excl. IFRS 16 Interest-bearing net debt, excluding interest-bearing lease liabilities, divided by EBITDA, excluding non-recurring items and the impact on operating expenses attributable to IFRS 16 for the most recent 12-month period. Measure to show the Group’s financial position and ability to manage its debt in relation to its operating cash flow generation, excluding the accounting effects arising as a result of IFRS 16. Earnings per share after dilution Net profit for the period attributable to Parent Company shareholders in relation to the average number of ordinary shares outstanding after dilution. For calculation of earnings per share after dilution, the average number of shares is adjusted taking into account the effects of dilutive potential ordinary shares, which, during the reporting periods in question, comprised rights to receive shares in ITAB within the framework of any long-term incentive pro - grams. Matching share rights held by employees as of the reporting date are considered dilutive. Moreover, the right to receive shares with performance conditions is dilutive only to the extent that set performance targets are met as of the reporting date. Adjustment of the number of dilutive shares is based on the hypothetical number of shares that could have been purchased with the value of remaining positions within the framework of the incentive programs. A valuation measure that highlights ITAB’s ability to pay dividends to its shareholders. Earnings per share before dilution Net profit for the period attributable to Parent Company shareholders in relation to the average number of ordinary shares outstanding before dilution. A valuation measure that highlights ITAB’s ability to pay dividends to its shareholders. Interest-coverage ratio Profit after financial items plus financial interest expenses in relation to financial borrowing costs. Shows ITAB’s ability to cover its financial expenses. Operating margin/ EBIT margin Operating profit in relation to revenue. Relevant for assessing ITAB’s efficiency and added value. This measure is included in ITAB’s financial targets. Equity/assets ratio Equity in relation to total capital. This measure highlights financial risk. Total capital Total equity and liabilities (balance sheet total). This measure highlights the size of the company’s total assets. Currency-adjusted sales Translation of the foreign subsidiaries’ income statements are conducted at each period’s average currency rate. For comparison of profit excluding cur - rency effects, the companies are recalculated at the previous year’s average currency rate for the same period. ITAB applies the European Central Bank’s average rates for the whole period. As of the 2023 financial year, the effects of the Group’s operations in hyperinflationary countries are excluded from the calculation of currency effects. Relevant to show the sales and profit trend without any effects from currency rate fluctuations. This measure is included in ITAB’s financial targets. Profit margin Profit after financial items in relation to revenue. Relevant for assessing ITAB’s efficiency and added value. Other definitions DEFINITIONS
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21 P.ITAB Group | Interim Report Q3 − 1 January–30 September 2026 For further information: ITAB Group AB (publ) Corp. Reg. No. 556292-1089 Box 9054, SE-550 09 Jönköping, Sweden E-mail: ir@itab.com itabgroup.com, itab.com Financial calendar Year-End Report 2026 – 1 Jan–31 Dec 2026 10 February 2027 Annual & Sustainability Report 2026 April 2027 Interim Report 3 months – 1 Jan–31 Mar 2027 4 May 2027 Annual General Meeting 2027 in Jönköping 12 May 2027 Interim Report 6 months – 1 Jan–30 Jun 2027 16 July 2027 Interim Report 9 months – 1 Jan–30 Sep 2027 2 November 2027 Year-End Report 2027 – 1 Jan–31 Dec 2027 10 February 2028 Andreas Helmersson Chief Financial Officer +46 70-929 32 26 Mats Karlqvist Head of Investor Relations +46 70-660 31 32 Share information Listing Nasdaq Stockholm Mid Cap list ISIN SE0015962097 Ticker symbol ITAB Share price on 30 September 2026 16.72 SEK Sector classification Industrial Goods & Services The information in this report is such that ITAB Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publica - tion, through the agency of the contact persons below, at 7:00 a.m. CET on 3 November 2026. This report has been reviewed by the company’s auditors. This report is in all respect a translation of the Swedish original Interim Report. In the event of any discrepancies between this translation and the Swedish original, the latter shall prevail. About ITAB Group The ITAB Group develops, manufactures, sells and installs a broad range of solutions and services in interior fixtures, lighting, sound and technology for stores in the retail sector. The Group has approximately SEK 13 billion in annual sales, some 5,300 employees and 22 production facilities in Europe, South America and China. ABOUT ITAB Our offering covers: Retail Interior Modern store experiences co- created with retailers through an iterative design and manufacturing process for both bespoke and standard shop fittings. Retail Services Our service offering includes concept creation, store and solution design, sustainability services for reuse and recycling, installation, consolidation and maintenance. Retail Tech Efficient and inspiring solutions for self-service and self-checkout, smart gates, in-store consumer flows and conventional checkouts – all connected to our OnRed platform, which transforms data into valuable and actionable insights. Retail Lighting & Sound Our offering includes complete professional lighting systems, design, sound systems and energy efficiency services for the retail sector.