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NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Main colours Additional variations Lato Bold COLOURS Lato Regular Main headline text Main body text TYPEFACE NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Quick guide Kjell Group • Q3 Report 2026 Presenters Sandra Gadd CEO Fredrick Sjöholm CFO
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NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Main colours Additional variations Lato Bold COLOURS Lato Regular Main headline text Main body text Quick guide TYPEFACE NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato The presentation contains forward-looking statements. All statements other than statements of historical fact included in the Information are statements. Forward-looking statements give the Company’s current expectations and projections relating to it forward-looking financial condition, results of operations, plans, objectives, future performance and business. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words and terms of similar meaning or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company’s control that could cause the Company’s actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which it will operate in the future. Disclaimer Kjell Group Q3 Report 2026
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NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Main colours Additional variations Lato Bold COLOURS Lato Regular Main headline text Main body text TYPEFACE NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Quick guide #0076 BD #D9D 9D9 #EE7F 00 Trend shift Momentum Execution Q2 Q3 Q4 A quarter of sustained momentum, enabling us to focus on both execution and long-term development Kjell Group Q3 Report 2026
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NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Main colours Additional variations Lato Bold COLOURS Lato Regular Main headline text Main body text TYPEFACE NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Quick guide Positive momentum sustained throughout the quarter #0076 BD #D9D 9D9 #EE7F 00 Gross profit +16% Supported by volume growth through external brands Adj EBITA +139.3% Strong improvement and efficient cost management Gross margin +0.2 p.p Supplier agreements and operational improvements, lower share of private label Adj EBITA-margin +3.5 p.p Text text text Net sales growth +8.1% +6.7% in local currencies Kjell Group Q3 Report 2026 Gross profit growth +8.7% Supported by volume growth through external brands. Adjusted EBITA growth +139.3% Strong improvement and efficient cost management Gross margin improvement +0.2 p.p Supplier agreements and operational improvements, lower share of private label Adjusted EBITA margin improvement +3.4 p.p Adjusted EBITA-margin of 6.3% for the quarter Excluding one-off write-down of inventory Q3 2025
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NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Main colours Additional variations Lato Bold COLOURS Lato Regular Main headline text Main body text TYPEFACE NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Quick guide We are building a more scalable operating model #0076 BD #D9D 9D9 #EE7F 00 With stronger foundations in place, we can build our capabilities Stronger core processes and reduced technological backlog An operating model less dependent on individual expertise Kjell Group Q3 Report 2026 01 Preparations intensified, implementation planned for H1 2027 02 Packaging machine rebuild in Staffanstorp completed in October, enabling more efficient operations 03 Functions centralised to headquarters and key leadership roles recruited 04 Stronger controls and ways of working 01 ERP Preparations intensified, implementation planned for H1 2027 02 Central warehouse Packaging machine rebuild in Staffanstorp completed in October, enabling more efficient operations 03 Team Functions centralised to headquarters and key leadership roles recruited 04 Process improvements Stronger controls and ways of working
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NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Main colours Additional variations Lato Bold COLOURS Lato Regular Main headline text Main body text TYPEFACE NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Quick guide Financial performance Kjell Group Q3 Report 2026
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NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Main colours Additional variations Lato Bold COLOURS Lato Regular Main headline text Main body text TYPEFACE NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Quick guide 773 561 530 591 697 487 574 639 2,584 2,554 2,489 2,455 2,379 2,305 2,350 2,398 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Net Sales Net Sales LTM All three markets delivered sales growth in Q3 Kjell Group Q3 Report 2026 Third quarter Net sales 639.0 (590.9) Net sales growth 8.1% (-5.4%) Jan - Sep Net sales 1,700.6 (1,681.9) Net sales growth 1.1% (-7.1%) Sweden Net sales Net sales growth 477.8 (454.8) 5.1% (0.3%) Sweden Net sales Net sales growth 1,278.1 (1,257.7) 1.6% (-3.1%) Norway Net sales Net sales growth Local currency growth 122.6 (101.2) 21.1% (0.4%) 12.5% (3.8%) Norway Net sales Net sales growth Local currency growth 322.3 (287.8) 12.0% (3.1%) 8.0% (7.1%) Denmark Net sales Net sales growth Local currency growth 38.5 (34.9) 10.4% (-50.4%) 10.8% (-48.9%) Denmark Net sales Net sales growth Local currency growth 100.2 (136.4) -26.5% (-41.5%) -25.3% (-39.8%) Sweden 75% Norway 19% Denmark 6% Net Sales by segment, YTD
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NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Main colours Additional variations Lato Bold COLOURS Lato Regular Main headline text Main body text TYPEFACE NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Quick guide Gross profit1 267MSEK +8.7% Gross profit funds the transformation -3.8% 40.5% 42.3%+1.8%p#0076 BD #D9D 9D9 #EE7F 00 Kjell Group Q3 Report 2026 Q3 2025 included a one-off inventory write-down of MSEK 74.2. Comparative figures are normalised. Reported gross profit in Q3 2025 amounted to MSEK 171.7 with a margin of 29.1% Year to date, gross margin increased to 43.2% (42.0%1), up 1.2 pp. 1 Normalised. Q3 2025 included a one-off inventory write-down of MSEK 74.2. Reported gross profit MSEK 171.7 and gross margin 29.1% (Q3) and 37.5% (Jan-Sep). 246 267 Q3 25 Q3 26 41.6% 41.8% Growth Driven by external brands Private label on par with last year in absolute numbers Margin Structural gain intact Short-term mix effect from external brands Cost Efficiency builds gradually Process improvements and ERP-enablement
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NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Main colours Additional variations Lato Bold COLOURS Lato Regular Main headline text Main body text TYPEFACE NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Quick guide Stronger cost control lays the foundation for scale #0076 BD #D9D 9D9 #EE7F 00 Personnel costs: Lower cost base due to previous efficiency initiatives. Q3 includes MSEK 1.9 restructuring and incentives cost. Other external expenses: Slightly higher cost base due to warehouse personnel. IAC MSEK 2.5 relocation costs and consultancies. FX revaluations: Positive currency impact compared to last year. Personnel costs, SEK million Other external expenses, SEK million Currency revaluation impact, SEK million 74 76 Q3 25 Q3 26 117 112 Q3 25 Q3 26 114 78 Items affecting comparability (IAC) -3.9% excl IAC 2.6% excl IAC Kjell Group Q3 Report 2026 74122 - 0.5 3.6 Q3 25 Q3 26
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NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Main colours Additional variations Lato Bold COLOURS Lato Regular Main headline text Main body text TYPEFACE NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Quick guide Continued improvement in adjusted EBITA #0076 BD #D9D 9D9 #EE7F 00 1.9% 1.8%-0.1%p Kjell Group Q3 Report 2026 Items affecting comparability totalling MSEK 4.5 (81.1), primarily related to warehouse moving costs and long-term incentive programmes. Year to date, adjusted EBITA amounted to MSEK 31.7 (5.2). 16.7 37.8 -13.3 5.1 40.0 2.8% 5.4% -2.7% 0.9% 6.3% Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Adj EBITA Adj EBITA-margin Adjusted EBITA 40 MSEK +139.1%
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NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Main colours Additional variations Lato Bold COLOURS Lato Regular Main headline text Main body text Quick guide TYPEFACE NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato • Net sales increased 5.1%, driven by strong online growth and positive development in stores. • Adjusted EBITA margin decline to 5.3% (6.6%) driven by costs related to the new central warehouse. Sweden • Net sales increased 12.5% in local currency, driven by strong online growth and higher store traffic. • Adjusted EBITA margin improved to 11.8% (- 8.6%), driven by positive currency impact, higher underlying product margins and lower operating costs. • Return to growth for the first time since Q3 2024, with net sales up 10.8% in local currency. • Adjusted EBITA improved to 0.2% (-13.1%), as campaign driven pressure on product margins were offset by lower inventory related costs that last year. Norway Denmark #0076 BD #D9D 9D9 #EE7F 00 Growth and profitability across all markets Kjell Group Q3 Report 2026 455 478 6.6% 5.3% Q3 25 Q3 26 Net sales, MSEK Adj EBITA-margin 101 123 -8.6% 11.8% Q3 25 Q3 26 Net sales, MSEK Adj EBITA-margin 35 38 -13.1% 0.2% Q3 25 Q3 26 Net sales, MSEK Adj EBITA-margin
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NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Main colours Additional variations Lato Bold COLOURS Lato Regular Main headline text Main body text TYPEFACE NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Quick guide Inventory build-up weighed on operating cash flow 322 381 414 353 213 176 241 269 Q424 Q125 Q225 Q325 Q425 Q126 Q226 Q326 • Financial net debt decreased by MSEK 84 compared to the same quarter last year. • Financial net debt in relation to LTM adjusted EBITDAaL decreased to 3.0 from 5.6 same quarter last year. Financial net debt #0076 BD #D9D 9D9 #EE7F 00 Kjell Group Q3 Report 2026 143 9 - 136 103 191 - 127 - 29 7 Q424 Q125 Q225 Q325 Q425 Q126 Q226 Q326 • Cash flow from operating activities amounted to MSEK 7 (103). • The decrease is attributable to heightened inventory levels and decreased payables. Cash flow from operating activities • Working capital increased by MSEK 88 compared to the same quarter last year, mainly due to planned inventory build-up ahead of the fourth quarter. • Working capital in relation to LTM sales increased by 3.7 percentage points to 6.2%. Working capital 107 -6 33 194 60 -96 36 91 148 4.2% -0.2% 1.3% 7.8% 2.4% -4.0% 1.6% 3.9% 6.2% Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Working capital Working capital share of LTM Sales
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NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Main colours Additional variations Lato Bold COLOURS Lato Regular Main headline text Main body text Quick guide TYPEFACE NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Moving forward Kjell Group Q3 Report 2026
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NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Main colours Additional variations Lato Bold COLOURS Lato Regular Main headline text Main body text TYPEFACE NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Quick guide #0076 BD #D9D 9D9 #EE7F 00 Looking ahead Q4 is all about execution. The focus shifts from planning and foundation building to delivery. Kjell Group Q3 Report 2026
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NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Main colours Additional variations Lato Bold COLOURS Lato Regular Main headline text Main body text Quick guide TYPEFACE NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato Quick guide 61409 USB 3.0 Hub Q&A Kjell Group Q3 Report 2026
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Main colours Additional variations Lato Bold COLOURS Lato Regular Main headline text Main body text Quick guide TYPEFACE NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato NOTE: If you haven´t already installed the typface ”Lato” on your computer, please do so by visiting this address: https://fonts.google.com/specimen/Lato