Interim report
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LAGERCRANTZ GROUP AB (PUBL) INTERIM REPORT 1 APRIL – 30 SEPTEMBER 2026 1 INTERIM REPORT 1 APRIL – 30 SEPTEMBER 2026 SECOND QUARTER (1 JULY – 30 SEPTEMBER 2026) • Net revenue increased by 22% to MSEK 2,990 (2,457), where the organic growth amounted to 12%. • Operating profit (EBITA) increased by 21% to MSEK 531 (440). The EBITA margin was 17.8% (17.9). • Profit after financial items (EBT) increased by 24% to MSEK 425 (343). • Cash flow from operating activities amounted to MSEK 270 (265). • Profit after taxes increased by 31% to MSEK 340 (260). THE FIRST SIX MONTHS (1 APRIL – 30 SEPTEMBER 2026) • Net revenue increased by 20% to MSEK 5,897 (4,930), where the organic growth amounted to 9%. • Operating profit (EBITA) increased by 18% to MSEK 1,029 (872). The EBITA margin was 17.4% (17.7). • Profit after financial items (EBT) increased by 21% to MSEK 830 (686). • Cash flow from operating activities amounted to MSEK 549 (553). • Profit after taxes increased by 25% to MSEK 655 (523). • Return on equity for the latest 12-month period amounted to 31% (30) and the equity ratio was 32% (31). • Earnings per share for the latest 12-month period increased to SEK 6.45, compared to SEK 5.81 for the 2025/26 financial year. • During the first six months, eight acquisitions were completed with total annual revenue of approximately MSEK 660. GROUP OVERVIEW 30 Sep 31 Mar Amounts in MSEK 2026 2025 Δ 2026 2025 Δ 2026 2026 Net revenue 2,990 2,457 22% 5,897 4,930 20% 11,576 10,609 EBITA 531 440 21% 1,029 872 18% 2,080 1,923 EBITA margin, % 17.8 17.9 17.4 17.7 18.0 18.1 Profit after financial items 425 343 24% 830 686 21% 1,667 1,523 Profit after taxes 340 260 31% 655 523 25% 1,332 1,200 Earnings per share after dilution, SEK 1.64 1.25 31% 3.17 2.53 25% 6.45 5.81 Cash flow from operating activities 270 265 2% 549 553 -1% 1,498 1,502 Return on equity, % - - - - 31 29 Equity ratio, % 32 31 32 31 32 35 Moving 12 months3 months 6 months 30 Sep 30 Sep 24% EBT growth Q2 8 acquisitions in the past 6 months SEK 6.45 earnings per share
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LAGERCRANTZ GROUP AB (PUBL) INTERIM REPORT 1 APRIL – 30 SEPTEMBER 2026 2 CEO COMMENT “Good growth” The second quarter of the financial year (July-September 2026) saw a good performance for Lagercrantz and thus strengthened the trend from the beginning of the year. The stronger order intake from before the summer materialised during the quarter in the form of increased revenue where the organic growth totalled 12 percent. Also supported by positive contributions from newly acquired companies, profit after net financial items (EBT) therefore increased by a total of 24 percent to MSEK 425 (343) for the quarter, well above our target of 15 percent. Earnings per share (after dilution) increased by 21 percent to SEK 6.45 on an annual basis. The first half of the year was characterised by a high level of activity across large parts of the Group. The majority of our businesses reported a positive development, particularly in priority areas such as electrification, infrastructure and in the defence- and security-related sectors. Meanwhile, weaker demand persisted in certain segments linked to the construction market. Consolidated net revenue increased during the quarter by 22 percent to MSEK 2,990 (2,457). Of the increase, 12 percent consisted of organic growth, 9 percent of acquired growth and 1 percent of positive currency effects. The results once again demonstrate the value of Lagercrantz’s decentralised and entrepreneurial business model. Many good initiatives at a local level in our businesses result in organic growth, and, together with new acquisitions of leading niche companies, this provides us with two drivers of growth. Earnings growth was broad- based across the Group, with particularly positive contributions from the Electrify, Control, TecSec and Niche Products divisions. The International division faced tough comparative figures from last year, particularly within the road maintenance cluster, but the order book bodes well for the future. Acquisition activity has been high during the first six months of the year. During the financial year, eight acquisitions have been completed so far, which together add approximately MSEK 660 in annual revenue with good profitability. The acquisitions provide market-leading positions in attractive niches where the Electrify division has now also entered the UK market through the acquisition of MSSL. The Control division has acquired a niche tool manufacturer in Denmark, expanded further in radon measurement and acquired a company specialising in sensors for measuring air pressure and temperature, predominantly for motorsport. TecSec has added another medical technology company. Niche Products has strengthened its position in security cabinets and acquired a company specialising in silencers for hunting firearms. The portfolio is really expanding in many interesting growth areas. We are now entering the second half of the financial year in a strong position. Geopolitical developments remain concerning, but with a strong and broad portfolio of niche technology companies, with strong market positions and an active acquisition agenda, we are optimistic about the future. Finally, I would like to extend a big thank you to all the employees in the Group for their strong commitment and great efforts during the first half of the year. 23 October 2026 Jörgen Wigh President and CEO
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LAGERCRANTZ GROUP AB (PUBL) INTERIM REPORT 1 APRIL – 30 SEPTEMBER 2026 3 The Group’s performance NET REVENUE AND PROFIT Second quarter (July – September 2026) The overall market situation for the Group’s businesses continued to be positive during the second quarter of the financial year. Demand was good in electrification, infrastructure and in the security and defence sector, while the construction market continued to be characterised by subdued activity. Customer activity and order intake, which were particularly strong in early summer, eased during July/August but picked up again towards the end of the period. We saw cost inflation, with higher prices for certain raw materials and freight, which the Group's companies are seeking to offset in their pricing to customers. Net revenue in the second quarter increased by 22% to MSEK 2,990 (2,457), where acquisitions contributed 9%, organic growth was 12% and exchange rate fluctuations contributed 1%. Operating profit (EBITA) increased by 21% to MSEK 531 (440) and the EBITA margin was 17.8% (17.9). All divisions except International contributed good improvements in earnings, not least due to strong invoicing at the end of the quarter. Profit after net financial items increased by 24% to MSEK 425 (343), where the increase was explained in particular by strong organic growth, but also due to acquired units. Net financial items amounted to MSEK -42 (-40), of which net interest items amounted to MSEK -46 (-45) and currency translation effects amounted to MSEK 5 (2). Profit after taxes increased by 31% to MSEK 340 (260), where the effective tax rate amounted to 20% (24). The first six months (April – September 2026) Net revenue during the first six months of the financial year increased by 20% to MSEK 5,897 (4,930), where acquisitions contributed 11% and the organic growth was 9%. Exchange rate fluctuations had no impact on net revenue. Operating profit (EBITA) increased by 18% to MSEK 1,029 (872) and the EBITA margin was 17.4% (17.7). The increase was attributable in roughly equal measure to acquisitions and organic growth. The share of proprietary products on a moving 12-month basis increased to 80% (79). Profit after financial items increased by 21% to MSEK 830 (686). Net financial items during the six- month period amounted to MSEK -75 (-75), of which net interest items amounted to MSEK -84 (-83) and currency translation effects amounted to MSEK 10 (8). Profit after taxes for the six-month period increased by 25% to MSEK 655 (523), where the effective tax rate amounted to 21% (24). Earnings per share after dilution for the latest 12- month period increased to SEK 6.45, compared to SEK 5.81 for the 2025/26 financial year. Net revenue and profit after net financial items, moving 12 months
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LAGERCRANTZ GROUP AB (PUBL) INTERIM REPORT 1 APRIL – 30 SEPTEMBER 2026 4 Performance by division NET REVENUE AND PROFIT BY DIVISION SECOND QUARTER Electrify The Electrify division’s net revenue increased by 22% to MSEK 758 (622), where 4% was added through acquisitions, 18% organically and 0% currency. Operating profit (EBITA) increased by 19% to MSEK 157 (132), equivalent to an operating margin of 20.7% (21.2). Good market growth laid the foundation for a strong organic development in most businesses and a strong quarter for the division in terms of earnings. Improvements in earnings were noted in most of the businesses, with a particularly good performance reported in Elpress, Elfac, Tykoflex, VP metall and Elkapsling. In Mastsystem, an increased profit was noted compared to the same quarter of the previous year, but there were also some delays in major projects. The company acquired in April, Michael Smith Switchgear in the UK, ended a good first half of the year as part of the division. Control The Control division’s net revenue increased by 29% to MSEK 410 (317), where 12% was added through acquisitions, 16% organically and 1% currency. Operating profit (EBITA) amounted to MSEK 53 (48), equivalent to an operating margin of 12.9% (15.1). Earnings were charged with non-recurring items relating to the restructuring of underperforming units and acquisition costs for completed acquisitions. CP Cases, Nikodan, Radonova, Direktronik and Stegborgs all displayed a good performance during the quarter. However, other businesses continued to face challenging market conditions, partly linked to the construction and civil engineering segment. In August, two companies were acquired; bf1systems in the UK, which is a leading manufacturer of sensors for harsh environment applications and Skandinavisk Radoninvest in Norway, which operates in the field of radon measurement. The company Hycon in Denmark, which was acquired in the spring, delivered according to plan during the quarter. 3 months Jul-Sep 3 months Jul-Sep 6 months Apr-Sep 6 months Apr-Sep Financial year 3 months Jul-Sep 3 months Jul-Sep 6 months Apr-Sep 6 months Apr-Sep Financial year MSEK 2026/27 2025/26 2026/27 2025/26 2025/26 2026/27 2025/26 2026/27 2025/26 2025/26 Electrify 758 622 1,521 1,294 2,633 157 132 311 255 543 Operating margin 20.7% 21.2% 20.4% 19.7% 20.6% Control 410 317 774 636 1,340 53 48 105 99 228 Operating margin 12.9% 15.1% 13.6% 15.6% 17.0% TecSec 672 492 1,342 1,017 2,316 90 68 191 152 339 Operating margin 13.4% 13.8% 14.2% 14.9% 14.6% Niche Products 618 520 1,277 1,089 2,390 146 102 283 216 492 Operating margin 23.6% 19.6% 22.2% 19.9% 20.6% International 532 506 983 894 1,931 92 97 158 168 358 Operating margin 17.3% 19.2% 16.1% 18.8% 18.5% Parent Company/ consolidation items - - - - - -7 -7 -19 -18 -37 GROUP TOTAL 2,990 2,457 5,897 4,930 10,609 531 440 1,029 872 1,923 Operating margin 17.8% 17.9% 17.4% 17.7% 18.1% Amortisation, intangible assets -64 -57 -124 -111 -229 Financial items -42 -40 -75 -75 -171 425 343 830 686 1,523 Net revenue Operating profit (EBITA) and operating margin PROFIT BEFORE TAXES
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LAGERCRANTZ GROUP AB (PUBL) INTERIM REPORT 1 APRIL – 30 SEPTEMBER 2026 5 TecSec The TecSec division’s net revenue increased by 37% to MSEK 672 (492), where 23% was added through acquisitions, 13% organically and 1% currency. Operating profit (EBITA) increased by 32% to MSEK 90 (68), equivalent to an operating margin of 13.4% (13.8). Several of the division’s security and safety businesses, including Idesco and ISG Nordic, performed particularly well during the quarter. PcP, the division’s largest unit, reported increased sales and earnings in several markets. A weaker market persisted in the construction-related businesses. The newly acquired MedTech companies I Holland and Marsden, which were acquired less than one year ago, reported a good start in the division. Niche Products The Niche Products division’s net revenue increased by 19% to MSEK 618 (520), where 11% was added through acquisitions, 7% organically and 1% currency. Operating profit (EBITA) increased by 43% to MSEK 146 (102), equivalent to an operating margin of 23.6% (19.6). Niche Products delivered a strong second quarter with good growth, both organically and through acquisitions. Several businesses displayed good sales growth which contributed to strong earnings, especially in Asept, Prido, Tormek and Waterproof. The newly acquired companies Sit Right, Enskede Hydraul, Stalon and Nivex have also got off to a good, or very good start in Lagercrantz. International The International division’s net revenue increased by 5% to MSEK 532 (506), where 0% was added through acquisitions, 5% organically and 0% currency. Operating profit (EBITA) amounted to MSEK 92 (97), equivalent to an operating margin of 17.3% (19.2). Overall, the market situation was stable and the division reported good growth with improved margins in several of its businesses. Tebul in Finland, DP Seals in the UK and Unitronic in Germany performed especially well during the quarter. Meanwhile, the results and the comparison with the previous year were affected by delayed deliveries combined with strong comparative figures in the road maintenance segment and some of the maritime cluster. PROFITABILITY AND FINANCIAL POSITION The Group’s metric for return on working capital, P/WC, amounted to 72% (73). Return on capital employed amounted to 19% (19) and return on equity amounted to 31% (30). The equity ratio at the end of the period was 32% (31). Equity per share amounted to SEK 22.45 (18.62). The Group’s operating net debt at the end of the period amounted to MSEK 4,659 (4,032), where the increase was explained by acquisitions. The Group’s net indebtedness, including pension liability of MSEK 55 (55) and lease liability of MSEK 476 (492), amounted to MSEK 5,190 (4,580) at the end of the period, where the change was mainly due to acquisitions. CASH FLOW AND CAPITAL EXPENDITURES Cash flow from operating activities amounted to MSEK 270 (265) during the second quarter and to MSEK 549 (553) in the six-month period. The change has been positively affected by increased profits but negatively impacted, among other things, by a higher business volume, which has led to some build-up of working capital. Acquisitions and disposals, including settlement of contingent considerations relating to acquisitions carried out in previous years, amounted to MSEK 272 (427) in the second quarter and to MSEK 639 (770) in the six-month period. Net investments in non-current assets, primarily production equipment, amounted to MSEK 35 (50) in the second quarter and to MSEK 84 (96) in the six- month period. During the second quarter, a dividend was paid out of SEK 2.50 (2.20) per share, which is equivalent to MSEK 515 (453). OTHER FINANCIAL INFORMATION Parent Company and other consolidation items The Parent Company’s net revenue amounted to MSEK 52 (42) and profit after financial items amounted to MSEK 488 (529) during the six-month period. The Parent Company’s equity ratio was 39% (39). Employees At the end of the period, the number of employees in the Group was 3,976 (3,627 at the end of the 2025/26 financial year), of whom 225 employees were added through acquisitions. Share capital The share capital amounted to MSEK 49 at the end of the period. The quota value per share amounted to
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LAGERCRANTZ GROUP AB (PUBL) INTERIM REPORT 1 APRIL – 30 SEPTEMBER 2026 6 SEK 0.23. Classes of shares were distributed as follows on 30 September 2026: At the end of the period, Lagercrantz Group held 3,026,886 own Class B shares, equivalent to 1.4% of the total number of shares and 1.0% of the votes. Lagercrantz’s own holdings of repurchased B shares are primarily security for the company’s obligations in outstanding incentive programmes for senior executives. During the first six months, repurchases of call options amounted to MSEK 45 (12) and redemption of call options amounted to MSEK 4 (4). At the end of the period, Lagercrantz had three outstanding call option programmes for the purchase of a maximum of 2,304,300 shares in total: * An option carries the right to purchase one share. Issued call options on repurchased shares had a dilutive effect of approximately 0.1% of the total number of shares in the company. ACQUISITIONS Since 1 July 2025, the following acquisitions have been completed (including subsidiaries); Two acquisitions were completed during the second quarter of the financial year. In August 2026, 100% of the shares were acquired in Skandinavisk Radoninvest AS, which operates in the field of radon measurement. The acquisition is an add-on acquisition in the Control division and the company generates annual revenue of about MNOK 17. In August 2026, 88% of the shares were acquired in bf1 systems in the UK. The company is a leading manufacturer of measurement systems and sensors for harsh environment applications and generates annual revenue of about MGBP 18 with good profitability. Lagercrantz normally uses an acquisition structure with a fixed purchase price and contingent consideration as well as options on any minority shares. The outcome of contingent considerations depends on the future results achieved in the companies and has a set maximum level. Not yet paid contingent considerations for acquisitions have a book value of MSEK 393 (317). These usually fall due for payment within three years from the date of acquisition and the maximum outcome can be MSEK 483 (405). Remeasurement of contingent considerations had a net effect in the quarter of MSEK 6 (0). The effect on earnings is recognised in other operating income and other operating expenses. During the second quarter, MSEK 57 (124) was paid in contingent consideration for previous Classes of shares Number A shares 9,775,386 B shares 199,442,847 Repurchased B shares -3,026,886 206,191,347Total number of shares after repurchases Option programme Number of outstanding options* Redemption price 2025/29 759,300 276.60 2024/28 788,000 233.90 2023/27 757,000 144.50 Total 2,304,300 Acquisition Takeover Equity interest, % Annual revenue at acquisition date, MSEK Number of employees Division Friggeråkers Verkstäder AB, Sweden July 2025 100 110 40 International AB Qvintus, Sweden August 2025 100 25 6 Control Sit Right AB, Sweden November 2025 70 90 6 Niche Products Enskede Hydraul AB, Sweden November 2025 70 60 5 Niche Products I Holland Group, England November 2025 85 335 185 TecSec Michael Smith Switchgear Ltd, England April 2026 100 105 55 Electrify Nivex Topsafe Group, Sweden April 2026 100 100 12 Niche Products FMK Trafikprodukter, Sweden April 2026 100 20 - Electrify Hycon A/S, Denmark April 2026 95 75 19 Control Stalon AB, Sweden May 2026 88 36 12 Niche Products Marsden Weighing Machine Group Ltd, England June 2026 100 80 37 TecSec Skandinavisk Radoninvest AS, Norway August 2026 100 17 3 Control bf1 systems Ltd, England August 2026 88 230 87 Control 1,283 467
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LAGERCRANTZ GROUP AB (PUBL) INTERIM REPORT 1 APRIL – 30 SEPTEMBER 2026 7 acquisitions and MSEK 25 (16) for acquisition of outstanding minority shares. Transaction costs, including any stamp duty, for the quarter’s acquisitions amounted to MSEK 4 (4) and are reported in the item administrative expenses. Preliminary purchase price allocation The preliminary purchase price allocations since 1 October 2025 in the table below include Sit Right AB, Enskede Hydraul AB, I Holland Group, Michael Smith Switchgear Ltd, Nivex Topsafe Group, FMK Trafikprodukter, Hycon A/S, Stalon AB, Marsden Weighing Machine Group Ltd, Skandinavisk Radoninvest AS and bf1 systems Ltd. 1) Goodwill is motivated by expected future sales development and profitability and also by the staff included in the acquire d companies. Other information Accounting policies The Interim Report for the Group has been prepared in accordance with IFRS standards as adopted by the EU with application of IAS 34, Interim Financial Reporting. Apart from in the financial statements and accompanying notes, disclosures according to IAS 34.16A are also presented in other parts of the report. The Interim Report for the Parent Company has been prepared in accordance with the Annual Accounts Act and the Swedish Securities Markets Act, which is in accordance with the provisions of RFR 2, Accounting for Legal Entities. The same accounting policies and calculation methods as in the most recent annual report have been applied in the interim report. There are no new IFRS standards or IFRIC interpretations approved by the EU, which are applicable for Lagercrantz. Significant estimates and judgments The company's significant estimates and judgments, as stated in the annual report for 2025/26, have not changed during the reporting period. Alternative performance measures Lagercrantz presents certain financial metrics in the interim report that are not defined according to IFRS. The company considers that these metrics provide supplementary information to investors and shareholders as they enable evaluation of trends and the company’s performance. They should not be regarded as a substitute for metrics defined according to IFRS. For definitions and reconciliation tables for the key performance indicators that Lagercrantz uses, see page 16-17. Transactions with related parties Transactions between Lagercrantz and related parties with a significant impact on the company’s financial position and results have not occurred. Risks and uncertainty factors Lagercrantz’s results and financial position are affected by a number of internal factors, which Lagercrantz controls and a number of external factors where the possibility to influence the course of events is limited. The most important risk factors for the Acquired net assets at time of acquisition (MSEK) Carrying amount in companies Fair value adjustment Fair value consolidated Intangible non-current assets 6 711 717 Other non-current assets 145 - 145 Inventories 169 - 169 Other current assets 332 - 332 Interest-bearing liabilities -115 - -115 Other liabilities -262 -169 -431 Acquired net assets 275 542 817 Goodwill¹ 630 Estimated Purchase price 1,447 Less: cash and cash equivalents in acquired businesses -140 Less: consideration not yet paid -497 Effect on the Group’s cash and cash equivalents 810
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LAGERCRANTZ GROUP AB (PUBL) INTERIM REPORT 1 APRIL – 30 SEPTEMBER 2026 8 Group are the economic situation, combined with structural changes in the market, customer and supplier dependence, the competitive situation, pandemics, cyber security risks as well as geopolitical uncertainty. For more information, please see the Risks and uncertainty factors section on pages 42–43 in the 2025/26 Annual Report. The Parent Company is impacted by the above- mentioned risks and uncertainty factors through its capacity as owner of subsidiaries. Events after the end of the period No significant events for the company have occurred after the end of the period. Annual General Meeting 2026 The 2026 AGM was held on 25 August 2026 in Stockholm. Minutes from the AGM are published on the company’s website. Certification The Board of Directors and the CEO believe that the undersigned interim report provides a true and fair view of the Company's and the Group's operations, their financial position and performance and describes the material risks and uncertainty factors facing the Company and the Group. Stockholm, 23 October 2026 Fredrik Börjesson Anna Almlöf Anders Claeson Chairman of the Board Board member Board member Anna Marsell Jörgen Wigh Malin Nordesjö Board member President and Board member Board member This report has not been subject to review by the company’s auditors.
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LAGERCRANTZ GROUP AB (PUBL) INTERIM REPORT 1 APRIL – 30 SEPTEMBER 2026 9 Quarterly data by division Net revenue MSEK Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Electrify 758 763 633 706 622 672 588 603 533 561 Control 410 364 359 346 317 319 330 322 281 264 TecSec 672 670 668 630 492 525 550 572 511 538 Niche Products 618 659 649 652 520 569 642 559 472 495 International 532 451 516 520 506 388 393 406 375 395 Parent Company/consolidation items - - - - - - - - - - GROUP TOTAL 2,990 2,907 2,825 2,854 2,457 2,473 2,503 2,462 2,172 2,253 2026/27 2025/26 2024/25 Operating profit (EBITA) MSEK Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Electrify 157 153 138 150 132 123 100 97 100 90 Control 53 51 68 61 48 51 59 47 34 35 TecSec 90 101 96 90 68 84 83 92 87 98 Niche Products 146 137 146 130 102 114 142 128 108 100 International 92 66 100 90 97 70 69 69 66 69 Parent Company/consolidation items -7 -10 -12 -8 -7 -10 -7 -5 -8 -6 GROUP TOTAL 531 498 536 513 440 432 446 428 387 386 2026/27 2025/26 2024/25 Operating margin (EBITA) % Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Electrify 20.7 20.1 21.8 21.2 21.2 18.3 17.0 16.1 18.8 16.0 Control 12.9 14.0 18.9 17.6 15.1 16.0 17.9 14.6 12.1 13.3 TecSec 13.4 15.1 14.4 14.3 13.8 16.0 15.1 16.1 17.0 18.2 Niche Products 23.6 20.8 22.5 19.9 19.6 20.0 22.1 22.9 22.9 20.2 International 17.3 14.6 19.4 17.3 19.2 18.0 17.6 17.0 17.6 17.5 GROUP TOTAL 17.8 17.1 19.0 18.0 17.9 17.5 17.8 17.4 17.8 17.1 2025/26 2024/252026/27
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LAGERCRANTZ GROUP AB (PUBL) INTERIM REPORT 1 APRIL – 30 SEPTEMBER 2026 10 Consolidated Income Statement - condensed ** In view of the redemption prices on outstanding call options during the period (SEK 276.60, SEK 233.90 and SEK 144.50) and the average share price (SEK 222.83) during the latest 12-month period when the option programmes were outstanding, there was a di lutive effect of 0.13%. For the latest quarter, there was a dilutive effect of 0.14% based on an average share price of SEK 228.73. Consolidated Statement of Comprehensive Income - condensed Moving 12 months Oct-Sep MSEK 2026/27 2025/26 2026/27 2025/26 2026/27 2025/26 Net revenue 2,990 2,457 5,897 4,930 11,576 10,609 Cost of goods sold -1,834 -1,498 -3,617 -3,011 -7,056 -6,450 GROSS PROFIT 1,156 959 2,280 1,919 4,520 4,159 Selling expenses -441 -366 -863 -750 -1,696 -1,583 Administrative expenses -255 -212 -545 -421 -1,061 -937 Other operating income and operating expenses 7 2 33 13 75 55 PROFIT BEFORE NET FINANCIAL ITEMS* 467 383 905 761 1,838 1,694 Net financial items -42 -40 -75 -75 -171 -171 PROFIT AFTER NET FINANCIAL ITEMS 425 343 830 686 1,667 1,523 Taxes -85 -83 -175 -163 -335 -323 NET PROFIT FOR THE PERIOD 340 260 655 523 1,332 1,200 * Of which: - amortisation of intangible non-current assets arising in connection with acquisitions: -64 -57 -124 -111 -242 -229 OPERATING PROFIT (EBITA) 531 440 1,029 872 2,080 1,923 Earnings per share before dilution, SEK 1.65 1.26 3.18 2.54 6.46 5.82 Earnings per share after dilution, SEK 1.64 1.25 3.17 2.53 6.45 5.81 Weighted number of shares after repurchases, (’000) 206,191 206,114 206,179 206,104 206,162 206,124 Weighted number of shares after repurchases adjusted after dilution (’000)** 206,470 206,712 206,477 206,685 206,428 206,537 Number of shares at end of period after repurchases (’000) 206,191 206,114 206,191 206,114 206,191 206,159 3 months Jul-Sep 6 months Apr-Sep Financial year Moving 12 months Oct-Sep MSEK 2026/27 2025/26 2026/27 2025/26 2026/27 2025/26 Net profit for the period 340 260 655 523 1,332 1,200 Items that have been reclassified or that may be reclassified to net profit for the period: Change in translation reserve 117 -40 163 -17 171 -9 Taxes related to the above items -5 2 -8 3 -8 3 Items that cannot be reclassified to net profit for the period: Actuarial effects on pensions - - - - 0 0 Taxes attributable to actuarial effects - - - - 0 0 Total other comprehensive income 112 -38 155 -14 163 -6 COMPREHENSIVE INCOME FOR THE PERIOD 452 222 810 509 1,495 1,194 3 months 6 months Financial year Jul-Sep Apr-Sep
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LAGERCRANTZ GROUP AB (PUBL) INTERIM REPORT 1 APRIL – 30 SEPTEMBER 2026 11 Consolidated Balance Sheet - condensed Changes in Consolidated Equity - condensed 31 Mar MSEK 2026 2025 2026 ASSETS Goodwill 4,669 3,923 4,214 Other intangible assets 3,241 2,662 2,861 Property, plant and equipment 1,396 1,259 1,339 Financial assets 44 34 39 Inventories 2,016 1,656 1,688 Trade receivables and contract assets 2,147 1,704 1,799 Other current receivables 553 387 500 Cash and bank balances 419 600 331 TOTAL ASSETS 14,485 12,225 12,771 EQUITY AND LIABILITIES Equity 4,630 3,839 4,436 Non-current interest-bearing liabilities 4,721 4,446 3,873 Non-interest-bearing liabilities, non-current 1,341 1,050 1,301 Current interest-bearing liabilities 888 734 671 Trade payables and contract liabilities 1,015 752 888 Other current liabilities 1,890 1,404 1,602 TOTAL EQUITY AND LIABILITIES 14,485 12,225 12,771 Interest-bearing assets 419 600 331 Interest-bearing liabilities, excl. pension liabilities 5,554 5,124 4,489 30 Sep Moving 12 months Oct-Sep MSEK 2026/27 2025/26 2026/27 2025/26 Opening balance 4 436 3 837 3 839 3 837 Comprehensive income for the period 810 509 1 495 1 194 Transactions with owners Dividend -515 -453 -515 -453 Dividend to minority shareholders in subsidiaries -51 -45 -59 -53 Redemption and acquisition of options on repurchased shares, net -41 -8 -43 -10 Change in value option liability acquisition -9 -1 -87 -79 Closing balance 4 630 3 839 4 630 4 436 6 months Apr-Sep Financial year
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LAGERCRANTZ GROUP AB (PUBL) INTERIM REPORT 1 APRIL – 30 SEPTEMBER 2026 12 Consolidated Statement of Cash Flows - condensed Moving 12 months Oct-Sep MSEK 2026/27 2025/26 2026/27 2025/26 2026/27 2025/26 Operating activities Profit after financial items 425 343 830 686 1,667 1,523 Adjustment for items not included in the cash flow 153 102 281 276 548 543 Income tax paid -127 -113 -193 -182 -411 -400 Cash flow from operating activities before changes in working capital 451 332 918 780 1,804 1,666 Cash flow from changes in working capital Increase (-)/Decrease (+) in inventories -52 11 -177 -50 -159 -32 Increase (-)/Decrease (+) in operating receivables -194 -64 -225 -134 -299 -208 Increase (+)/Decrease (-) in operating liabilities 65 -14 33 -43 152 76 Cash flow from operating activities 270 265 549 553 1,498 1,502 Investing activities Net investments in businesses -272 -427 -639 -770 -937 -1,068 Net investments in other non-current assets -35 -50 -84 -96 -226 -238 Cash flow from investing activities -307 -477 -723 -866 -1,163 -1,306 Financing activities Dividend to the parent company’s shareholders -515 -453 -515 -453 -515 -453 Dividend to minority shareholders in subsidiaries -23 -3 -51 -45 -59 -53 Transactions with own shares/options -1 1 -41 -8 -43 -10 Change in loan liability 710 626 785 1,027 145 387 Change in credit facilities and other financing activities -110 19 73 -58 -56 -187 Cash flow from financing activities 61 190 251 463 -528 -316 CASH FLOW FOR THE PERIOD 24 -22 77 150 -193 -120 Cash and cash equivalents at the beginning of the period 386 631 331 456 600 456 Exchange difference in cash and cash equivalents 9 -9 11 -6 12 -5 Cash and cash equivalents at the end of the period 419 600 419 600 419 331 3 months 6 months Financial year Jul-Sep Apr-Sep
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LAGERCRANTZ GROUP AB (PUBL) INTERIM REPORT 1 APRIL – 30 SEPTEMBER 2026 13 Fair value of financial instruments For all of the Group’s financial assets, fair value is estimated to equal the carrying amount. Liabilities measured at fair value consist of contingent consideration payments, which are measured using discounted estimated cash flows and are therefore included in level 3 under IFRS 13. Carrying amount, MSEK 2026-09-30 2026-03-31 Assets measured at fair value - - Assets measured at amortised cost 2,370 2,024 TOTAL ASSETS, FINANCIAL INSTRUMENTS 2,370 2,024 Liabilities measured at fair value 393 331 Liabilities measured at amortised cost 7,073 5,863 TOTAL LIABILITIES, FINANCIAL INSTRUMENTS 7,466 6,199 Change in liability for contingent considerations MSEK 2026/27 2025/26 2026/27 2025/26 2025/26 Opening balance 383 420 331 390 390 The period’s acquisitions 65 5 163 18 72 Settled liabilities during the period -57 -124 -93 -124 -140 Remeasurement preliminary purchase price allocation - 16 - 41 42 Reversed via the income statement -6 - -23 -9 -30 Exchange difference 8 - 15 1 -3 Closing balance 393 317 393 317 331 3 months 6 months Financial year Jul-Sep Apr-Sep Change in put options, MSEK 2026/27 2025/26 2026/27 2025/26 2025/26 Opening balance 613 400 591 433 433 The period’s acquisitions 48 - 65 5 131 Settled liabilities during the period -25 -16 -25 -54 -54 Remeasurement preliminary purchase price allocation - - - - - Remeasurement via equity -1 - -1 1 79 Exchange difference 14 - 19 -1 2 Closing balance 649 384 649 384 591 3 months 6 months Financial year Jul-Sep Apr-Sep
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LAGERCRANTZ GROUP AB (PUBL) INTERIM REPORT 1 APRIL – 30 SEPTEMBER 2026 14 Parent Company Income Statement - condensed Parent Company Balance Sheet - condensed Moving 12 months Oct-Sep MSEK 2026/27 2025/26 2026/27 2025/26 2026/27 2025/26 Net revenue 26 21 52 42 96 86 Administrative expenses -36 -32 -76 -69 -153 -146 Other operating income and operating expenses -1 - -3 - -3 - OPERATING PROFIT -11 -11 -27 -27 -60 -60 Financial income 215 352 619 633 1,125 1,139 Financial expenses -92 -51 -104 -77 -203 -176 PROFIT AFTER FINANCIAL ITEMS 112 290 488 529 862 903 Change in untaxed reserves - - - - -56 -56 Taxes -2 4 -5 6 -63 -52 NET PROFIT FOR THE PERIOD 110 294 483 535 743 795 3 months 6 months Financial year Jul-Sep Apr-Sep 31 Mar MSEK 2026 2025 2026 ASSETS Property, plant and equipment 1 2 1 Financial assets 7,846 7,609 7,491 Current receivables 1,605 1,276 1,373 Cash and bank balances - - - TOTAL ASSETS 9,452 8,887 8,865 EQUITY AND LIABILITIES Equity 3,337 3,152 3,410 Untaxed reserves 410 353 410 Non-current liabilities 3,821 4,211 2,965 Current liabilities 1,884 1,171 2,080 TOTAL EQUITY AND LIABILITIES 9,452 8,887 8,865 30 Sep
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LAGERCRANTZ GROUP AB (PUBL) INTERIM REPORT 1 APRIL – 30 SEPTEMBER 2026 15 Key performance indicators Key performance indicators per share Lagercrantz does not recognise minority interests due to the existence of call and put options on the minority interests. For a description of consolidation principles, see page 60 of the 2025/26 Annual Report. Moving 12 months 2026/27 2025/26 2024/25 2023/24 2022/23 Revenue 11,576 10,609 9,389 8,129 7,246 Change in revenue, % 17.0 13.0 15.5 12.2 32.2 EBITDA 2,452 2,284 1,967 1,704 1,451 Operating profit (EBITA) 2,080 1,923 1,646 1,431 1,205 Operating margin (EBITA), % 18.0 18.1 17.5 17.6 16.6 EBIT 1,838 1,694 1,439 1,256 1,062 EBIT margin, % 15.9 16.0 15.3 15.5 14.7 Profit after financial items 1,667 1,523 1,298 1,116 968 Profit margin, % 14.4 14.4 13.8 13.7 13.4 Profit after taxes 1,332 1,200 1,019 877 758 Equity ratio, % 32 35 34 35 37 Return on working capital (P/WC), % 72 81 79 77 78 Return on capital employed, % 19 20 20 20 22 Return on equity, % 31 29 28 27 29 Net debt (+)/receivables (-), MSEK 5,190 4,213 3,634 2,956 2,327 Net debt/equity ratio, times 1.1 0.9 0.9 0.9 0.8 Operating net debt (+)/receivables (-), MSEK 4,659 3,653 3,033 2,438 1,902 Operating net debt/equity ratio, times 1.0 0.8 0.8 0.7 0.6 Interest coverage ratio, times 10 9 9 8 8 Number of employees at end of period 3,976 3,627 3,124 2,762 2,425 Revenue outside Sweden, MSEK 8,130 7,346 6,397 5,561 4,830 Financial year Moving 12 months 2026/27 2025/26 2024/25 2023/24 2022/23 Number of shares at end of period after repurchases (’000) 206,191 206,159 206,088 205,955 205,930 Weighted number of shares after repurchases, (’000) 206,162 206,124 206,052 205,940 204,439Weighted number of shares after repurchases & dilution (’000) 206,428 206,537 206,553 206,227 204,718 Earnings per share before dilution, SEK 6.46 5.82 4.95 4.26 3.71 Earnings per share after dilution, SEK 6.45 5.81 4.93 4.25 3.70 Cash flow from operating activities per share after dilution, SEK 7.26 7.28 6.39 6.43 5.23 Equity per share, SEK 22.45 21.52 18.54 16.84 14.61 Latest price paid per share, SEK 212.80 198.90 206.40 163.80 129.70 Financial year
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LAGERCRANTZ GROUP AB (PUBL) INTERIM REPORT 1 APRIL – 30 SEPTEMBER 2026 16 Key performance indicator definitions Return on equity1 Net profit for the year after tax as a percentage of average equity (opening plus closing balance for the latest 12-month period, divided by two). Return on working capital (P/WC)1 Operating profit (EBITA) as a percentage of average working capital, (opening balance plus closing balance for the latest 12-month period, divided by two), where working capital consists of inventories, trade receivables and contract assets less trade payables and contract liabilities. Return on capital employed1 Profit after financial items, plus financial expenses as a percentage of average capital employed (opening balance plus closing balance for the latest 12-month period, divided by two). EBITDA1 Operating profit before depreciation, amortisation and impairment. EBIT margin Profit before net financial items as a percentage of net revenue. Equity per share1 Equity divided by the number of outstanding shares on the balance sheet date. Cash flow per share after dilution1 Cash flow in relation to the weighted number of shares outstanding after repurchases and adjusted for dilution. Cash flow from operating activities per share1 Cash flow from operating activities in relation to the weighted number of shares outstanding after repurchases and adjusted for dilution. Net debt/receivables1 Interest-bearing provisions and liabilities, including pension liabilities and including liabilities related to financial leases according to IFRS 16, less cash and cash equivalents and investments in securities. Net debt/equity ratio1 Interest-bearing provisions and liabilities including pension liabilities and including IFRS 16, less cash and cash equivalents and investments in securities, divided by equity plus non-controlling interests. Operating net debt/receivables1 Interest-bearing provisions and liabilities, excluding pension liabilities and excluding liabilities related to financial leases according to IFRS 16, less cash and cash equivalents and investments in securities. Operating net debt/equity ratio1 Interest-bearing provisions and liabilities, excluding pension liabilities and excluding effects of IFRS 16, less cash and cash equivalents and investments in securities, divided by equity plus non-controlling interests. Change in revenue1 Change in net revenue as a percentage of the preceding year’s net revenue. Organic growth1 Changes in net revenue excluding currency effects, acquisitions and disposals compared to the same period of the previous year. Earnings per share before dilution Net profit for the year attributable to the parent company’s shareholders in relation to the weighted number of shares outstanding after repurchases. Earnings per share after dilution Net profit for the year attributable to the parent company’s shareholders in relation to the weighted number of shares outstanding after repurchases and dilution. Interest coverage ratio1 Profit after financial items plus financial expenses divided by financial expenses. Operating profit (EBITA)1 Operating profit before amortisation of intangible non-current assets arising in connection with acquisitions. Operating margin1 Operating profit (EBITA) as a percentage of net revenue. Debt equity ratio1 Interest-bearing liabilities divided by equity, plus non- controlling interests. Equity ratio1 Equity, plus non-controlling interests as a percentage of total assets. The equity portion of untaxed reserves is included in the parent company’s calculation of the equity ratio. Capital employed1 Total assets, less non-interest-bearing provisions and liabilities. Profit margin1 Profit after financial items, less participations in associated companies as a percentage of net revenue. 1 The key performance indicator is an alternative performance measure according to ESMA’s guidelines.
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LAGERCRANTZ GROUP AB (PUBL) INTERIM REPORT 1 APRIL – 30 SEPTEMBER 2026 17 Reconciliation tables for alternative performance measures Revenue distribution EBITA and EBITDA 30 Sep 31 Mar 31 Mar 31 Mar Group, MSEK 2026 2026 2025 2024 Profit before net financial items according to the quarterly report 1,838 1,694 1,439 1,256 Amortisation, intangible non-current assets relating to acquisitions 242 229 207 175 EBITA 2,080 1,923 1,646 1,431 Depreciation of property, plant and equipment 372 361 321 273 EBITDA 2,452 2,284 1,967 1,704 12 months through Working capital and return on working capital (P/WC) 30 Sep 31 Mar 31 Mar 31 Mar Group, MSEK 2026 2026 2025 2024 EBITA (moving 12 months) 2,080 1,923 1,646 1,431 Inventories, annual average (+) 1,836 1,557 1,398 1,268 Trade receivables and contract assets, annual average (+) 1,926 1,634 1,421 1,305 Trade payables and contract liabilities, annual average (-) 884 817 747 711 Working capital (annual average) 2,878 2,373 2,071 1,862 Return on working capital (P/WC), (%) 72% 81% 79% 77% Acquired and organic net revenue growth Group, MSEK, % Acquired net revenue growth 230 9% 286 12% 291 11% 439 18% 311 14% Organic net revenue growth 288 12% 157 6% 141 6% 51 2% 22 1% Exchange rate effects 15 1% -9 0% -110 -4% -98 -4% -48 -2% Total net revenue growth 533 22% 434 18% 322 13% 392 16% 285 13% 3 months Jul-Sep 2026/27 2026/27 2025/26 2025/26 2025/26 3 months Jan-Mar Oct-Dec 3 months 3 months 3 months Jul-Sep Apr-Jun 3 months Jul-Sep Financial year 3 months Jul-Sep Financial year 3 months Jul-Sep Financial year 3 months Jul-Sep Financial year 3 months Jul-Sep Financial year 3 months Jul-Sep Financial year 2026/27 2025/26 2026/27 2025/26 2026/27 2025/26 2026/27 2025/26 2026/27 2025/26 2026/27 2025/26 Total net revenue 758 2,633 410 1,340 672 2,316 618 2,390 532 1,931 2,990 10,609 Of which, share Proprietary products 79% 78% 77% 69% 80% 77% 93% 93% 76% 75% 81% 80% Value-added distribution 3% 4% 21% 28% 4% 5% 6% 5% 24% 24% 10% 11% Niche production 18% 17% 1% 2% - - - 1% - - 5% 5% System integration - - - - 11% 14% - - - - 3% 3% Other net revenue 0% 1% 1% 1% 5% 4% 1% 1% 0% 1% 1% 1% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% Net revenue by product type Electrify Control TecSec Niche Products International GROUP TOTAL
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LAGERCRANTZ GROUP AB (PUBL) INTERIM REPORT 1 APRIL – 30 SEPTEMBER 2026 18 This information is such information that Lagercrantz Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was originally submitted for publication at 07:40 CEST on 23 October 2026. Reporting dates: 3 February 2027 Interim Report Q3 1 April 2026 –31 December 2026 20 May 2027 Year-end Report 1 April 2026 – 31 March 2027 16 July 2027 Interim Report Q1 1 April – 30 June 2027 For further information please contact: Jörgen Wigh, President and CEO, phone +46 8 700 66 70 Karin Mellegård Djärf, CFO, phone +46 70 290 01 94 Lagercrantz Group AB (publ) Box 3508, 103 69 Stockholm Phone +46 8 700 66 70 Corporate identity number 556282 4556 www.lagercrantz.com