Slides
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Third quarter 2026
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President and CEO Anders Lindqvist 2
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Agenda • Q3 in short • Divisional development • Financials • Sustainability • Q&A • Appendix – Market update 3
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Q3 in short Solid quarter on all counts • Order intake increased 10%, even when compared with the strong comparable quarter last year, to SEK 2,667 (2,431) million • Driven by High Volume and Global Technologies • Net sales rose 38% to SEK 2,356 (1,709) million • Driven primarily by Global Technologies • All divisions posted double-digit growth • Gross margin increased to 52 (47)% • EBIT rose to SEK 610 (255) million • EBIT margin at 26 (15)% • Order backlog increased to SEK 5,566 (4,763) million, a record high • New financial targets launched on Capital Markets Day on August 31 4
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Pattern Generators New product launches • Launch of next generation semiconductor mask writer, SLX Kite, and a semiconductor photomask inspection machine, IQX • Order intake decreased 22% to SEK 616 (789) million • Orders for one Prexision 80 Evo and two SLXs received • Net sales increased 20% to SEK 580 (485) million • Net sales acquisition effect from Cowin DST amounted to SEK 23 million • Gross margin at 59 (59)% • EBIT was SEK 188 (161) million • EBIT acquisition effect from Cowin DST amounted to SEK -13 million • EBIT margin at 32 (33)% • Order backlog at SEK 1,741 (2,614) million • 11 systems in order backlog on September 30 5 Net sales SEK 580 M EBIT SEK 188 M EBIT margin 32% Share of Group’s net sales 25% Order intake SEK 616 M
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Pattern Generators New Senior Vice President Mikael Wahlsten is appointed Senior Vice President Pattern Generators and a member of Mycronic’s Executive Management team, effective November 1, 2026 Mikael has been with Mycronic since 2003 and served as Head of Product Strategy & Development within Pattern Generators since 2020 A big thank you to Charlott Samuelsson, who has decided to retire, and welcome Mikael! 6
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PCB Assembly Solutions Tepid demand, improved EBIT • Demand continued to be tepid in the high mix-low volume segment, where the division operates • This segment also experienced price pressure from Japanese competitors • Order intake decreased 9% to SEK 367 (405) million • Net sales rose 14% to SEK 358 (314) million • Gross margin increased to 41 (36)% • EBIT rose to SEK 42 (20) million • EBIT margin at 12 (6)% • Order backlog increased to SEK 266 (224) million Net sales SEK 358 M EBIT SEK 42 M EBIT margin 12% Share of Group’s net sales 15% Order intake SEK 367 M 7
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High Volume Continued momentum • Markets outside China showed good demand, while demand from the Chinese domestic market weakened • The slowdown in China was driven by the consumer electronics industry displaying a cyclical pattern, where investments are made during the first half of the year to enable the launch of new products in the autumn • Order intake increased 42% to SEK 629 (444) million • Net sales increased 14% to SEK 569 (499) million • Gross margin at 41 (39)% • EBIT at SEK 74 (79) million • ESOP had an impact of SEK -25 million • EBIT margin at 13 (16)% • Order backlog increased to SEK 1,253 (860) million 8 Net sales SEK 569 M EBIT SEK 74 M EBIT margin 13% Share of Group’s net sales 24% Order intake SEK 629 M
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Global Technologies All stars aligned • Exceptionally strong quarter, driven by product mix and volume effects, which should not be extrapolated • General market conditions remained favorable, driven by AI infrastructure, advanced packaging and defense investments • Order intake increased 33% to SEK 1,059 (797) million • Net sales rose 105% to SEK 852 (416) million • Gross margin increased to 60 (52)% • Driven by product mix and volume effects • EBIT increased to SEK 359 (42) million • Revaluation of a contingent consideration related to Surfx had a positive EBIT impact of SEK 15 million • EBIT margin at 42 (10)% • Order backlog more than doubled to SEK 2,307 (1,066) million Net sales SEK 852 M EBIT SEK 359 M EBIT margin 42% Share of Group’s net sales 36% Order intake SEK 1,059 M 9
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Outlook 2026 revised upwards 10 Net sales SEK 9.75 (9.25) billion
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CFO and Sr VP Corporate Development Pierre Brorsson 11
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Group net sales and EBIT margin per quarter MSEK • Net sales increased 38% vs Q3 2025, equivalent to SEK 2,356 million • Aftermarket revenue at record SEK 606 million • EBIT margin at 26% 12 0 5 10 15 20 25 30 35 40 0 500 1000 1500 2000 2500 3000 Q4 2024 Q1 2025 Q2 Q3 Q4 Q1 2026 Q2 Q3 Aftermarket System EBIT margin %
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Group net sales and EBIT margin rolling 12 months MSEK • Net sales R12 amounted to SEK 9,297 million • EBIT margin R12 at 28% • Aftermarket revenue R12 at SEK 2,186 million • 24% of net sales 13 0 5 10 15 20 25 30 35 40 45 50 0 1000 2000 3000 4000 5000 6000 7000 8000 9000 10000 Q4 2024 Q1 2025 Q2 Q3 Q4 Q1 2026 Q2 Q3 Aftermarket System EBIT margin %
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14 Group Q3 EBIT bridge MSEK 255 610 304 118 EBIT Q3 2025 Volume effect Gross margin effect -56 R&D -11 M&S -20 G&A 20 Other EBIT Q3 2026 +139% % of Sales 2026 % of Sales 2025 15% 47% -14% -11% -7% 0% 26%52% -12% -9% -6% 1%
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Divisional Q3 EBIT contribution MSEK 255 27 22 -5 317 -6 610 Q3 2025 Pattern Generators PCB AS High Volume Global Technologies Group functions Q3 2026 15% 15 26%
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Cash flow impacted by dividends, working capital increase and acquisitions • Strong cash flow from results • Increase in working capital primarily driven by higher inventory • Acquisitions of ETZ and Cowin DST generated a cash flow of SEK -184 million • Financing activities include SEK 636 million in dividends to shareholders • Net cash position of SEK 2,856 (1,641) million on September 30 16 MSEK YTD 2026 YTD 2025 Cash flow from operations before change in working capital 2,296 1,565 Change in working capital -310 -585 Cash flow from operations 1,985 980 Investing activities -377 -1,044 Financing activities -786 -830 Cash flow for the period 823 -894 Cash, opening balance 2,323 3,014 Exchange differences 125 -118 Cash at end of period 3,271 2,002
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President and CEO Anders Lindqvist 17
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Sustainability • In the first half of 2026, 96 (94)% of electricity consumption came from renewable sources, following additional sites transitioning to renewable electricity • The share of suppliers that had signed the Code of Conduct was 87 (95)% among high-risk suppliers and 58 (60)% among direct material suppliers • The lower levels compared with the same period in 2025 reflect the inclusion of acquired companies that have not yet reached the same level of maturity as the rest of the Group 18
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Q&A 19
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APPENDIX Q3 2026 Market update
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Outcome 2025 Market summary and updates • Global electronics industry 9.8% to USD 2,803 billion1) • Semiconductors 22.8% to USD 771 billion1) • Optical components 54.9% to USD 27.1 billion3) • PCBs 16.7% to USD 85.8 billion4) • Display market -0.2% to USD 135 billion5) • Display photomasks 8.9% to USD 1,003 million6) • Semiconductor photomasks 17.9% to USD 10.6 billion7) • SMT assembly equipment 25.2% to USD 2,600 million2) • Europe -39.6% to USD 162 million2) • North and South America -0.2% to USD 224 million2) • Asia 39.7% to USD 2,214 million2) • Dispensing equipment: 6.7% to USD 800 million8) 21 Source: 1) Prismark September 2026, 2) PROTEC MDC January 2026, 3）Lightcounting, April 2026, 4) Prismark, September 2026, 5) Omdia July 2026, 6) Omdia July 2026 (annual update), 150 YEN/USD used as conversion rate, 7) TechInsights January 2026, 8) Prismark April 2026 (annual update)
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Forecasts 2026 Market summary and updates • Global electronics industry 13.7% to USD 3,188 billion1) • Semiconductor industry 118.3% to USD 1,683 billion1) • Optical components 50.4% to USD 40.8 billion2) • PCBs 32.1% to USD 113.4 billion3) • Displays -6.1% to USD 126 billion4) • Display photomasks 2.6% to USD 1,028 million5,6) • Semiconductor photomasks 15.0% to USD 12.2 billion7) • SMT assembly equipment: not available • Dispensing: not available 22 Source: 1) Prismark September 2026, 2) Lightcounting April 2026, 3) Prismark, September 2026, 4) Omdia July 2026, 5) Omdia FPD large-area photomask research July 2026. Information is not an endorsement of Mycronic. Any reliance on these results is at the third party's own risk, 6) 150 YEN per USD used for conversion from JPY to USD, 7) TechInsights January 2026
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Electronics industry systems Yearly development by industry segment USD billion 23 0 500 1 000 1 500 2 000 2 500 3 000 3 500 4 000 4 500 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026F 2030F Computers Communication Consumer Automotive Industrial Medical Aerospace / Defense • Growth of 9.8% in 2025, to USD 2,803 billion, with strongest development in • Computers 21.5% • Aerospace/Defense 9.1% • Communication 8.0% • Medical 7.6% • Growth of 13.7% forecast for 2026, to USD 3,188 billion, with strongest development in • Computers 30.9% • Aerospace/Defense 10.3% • Communication 9.6% • Industrial 8.1% • 7.7% CAGR expected for 2025-2030, to USD 4,070 billion, with strongest development in • Computers 12.8% • Aerospace/Defense 7.8% • Industrial 6.3% • Communication 6.2% Source: Prismark, September 2026
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Semiconductors Quarterly development USD billion 24 0 25 50 75 100 125 150 175 200 225 250 275 300 325 350 375 400 425 450 475 500 525 550 2020 2021 2022 2023 2024 2025 2026F 2027F 2028F 2029F 2030F • 22.8% growth in 2025, to USD 771 billion • Forecast 118.3% growth in 2026, to USD 1,683 billion • 22.8% CAGR expected for 2025-2030, to USD 2,150 billion Source: Prismark, September 2026 Actual Forecast
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SMT and Dispensing Market update SMT assembly equipment* • The SMT assembly equipment market grew 25.2% in 2025 to USD 2,600 million1) • During the first two quarters, the market grew 30.5% compared with the corresponding period in 2025. Markets in North and South America, Europe, Southeast Asia, and China showed growth while Japan had a negative trend1) Dispensing* • Dispensing market grew 6.7% in 2025 to USD 800 million2) • Mycronic is the number one supplier of dispensing equipment for the electronics industry, addressing the major part of the total market 25 Source: 1) PROTEC MDC July 2026, 2) Prismark April 2026 (annual update) * No forecast available
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Optical components for data/telecom Long-term growth in key die bonding market driven by mega trends 26 Optical components for data/telecom (BUSD) Source: Lightcounting, April 2026 Market Forecast 2023 2024 3.7 2025 4.7 2026F 2027F 2028F 2029F 2030F 2031F 12.9 17.5 27.1 40.8 49.9 57.9 65.9 72.2 79.2 2.7 2.3 7.9 7.7 2.6 7.2 15.4 8.1 27.1 9.0 33.1 6.9 9.9 9.5 10.8 42.4 11.4 12.1 37.6 12.4 13.8 49.7 13.9 15.6 46.0 14.2% p.a. Ethernet transceivers for AI Ethernet transceivers for non-AI Other optical components Market share of key optical component suppliers, H12026 Total revenue USD 23.3 billion Source: Lightcounting Quarterly Market Update September 2026 26,1% 13,1% 12,8%7,9% 7,8% 4,1% 2,7% 2,4% 1,7% 1,5% 1,4% 18,5% Innolight EOptolink Coherent (Opcom)Fabrinet Lumentum Accelink HGG Hisense CIG AOI Sumitomo Others Healthy data/telecom long-term growth • Optical components production is the main driver for die/lens attach and other adjacent processes • Growth driven by mega trends such as AI, hyperscale data centers and global supply chain shifting • Data/Telecom optical components market continued to grow fast in 2026 mainly driven by high-performance AI demand • AI-driven growth is expected to continue in 2027 and beyond
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Pattern Generators - Display panel market Market unchanged in 2025, negative growth in 2026, moderate growth resuming in 2027 27 Source: Omdia, Display Long-Term Demand Forecast Tracker, July 2026. Information is not an endorsement of Mycronic. Any reliance on these results is at the third party's own risk. 0 50 100 150 200 250 BUSD 2024A 2025A 2026 2027 2028 2029 2030 135 135 126 128 132 133 137 0.3% Display panel revenue • Display market stayed flat in 2025, with growth in both units and area primarily offset by lower prices for OLED • For 2026, negative growth of 6.1% is expected • Driven by overall price pressure on display panels and a weak market for displays for mobile phones • After 2026, moderate growth is expected • The panel market showed positive area growth of 4.9% in 2025 • Long term area growth is 2.1% CAGR 2025-2030, driven by more displays and growing average displays sizes 0 50 100 150 200 250 300 350 Million m2 2024A 2025A 2026 2027 2028 2029 2030 264 277 273 282 295 301 308 2.1% Display panel area
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Pattern Generators - OLED display panel market Area continues to grow steadily; price pressure drives negative market growth in 2025–2026 28 Source: Omdia, Display Long-Term Demand Forecast Tracker, July 2026. Information is not an endorsement of Mycronic. Any reliance on these results is at the third party's own risk. 0 5 10 15 20 25 30 BUSD 2024A 2025A 2026F 2027F 2028F 2029F 2030F 18 19 19 22 23 25 276.4% OLED display panel area • The OLED display area grew 6.1% in 2025 • Lower prices of OLED displays and introduction of OLED technologies in larger displays such as TVs and IT devices will drive long term area growth of 6.4% 0 20 40 60 80 100 BUSD 2024A 2025A 2026 2027 2028 2029 2030 54 52 48 49 53 56 60 2.7% • The OLED market showed negative growth of 3.0% in 2025, despite area growth of 6.1%, meaning prices were under pressure • The structural trend toward more advanced OLED displays remains intact, despite a temporary slowdown in 2025-2026 driven by price pressure exceeding area growth • New OLED technologies and applications for larger displays such as TVs and IT displays are the primary growth driver going forward OLED display panel revenue
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Pattern Generators – Display photomask market Developed strongly in 2025, forecast to continue to develop positively in 2026 29 Source: Omdia, Technology Group, FPD large-area photomask research, July 2026 Information is not an endorsement of Mycronic. Any reliance on these results is at the third party's own risk. 0 5 10 15 20 25 30 Thousands of square meters 2024A 2025A 2026F 2027F 2028F 2029F 2030F 1.5% 0 50 100 150 200 Billion Japanese Yen 2024A 2025A 2026F 2027F 2028F 2029F 2030F 1.6% Mask AreaMask Revenue • Long-term area growth is forecast to remain positive • Photomask area grew 6.2% in 2025 • For 2026, the market is forecast to stay flat, showing -0.3% growth • Growth 2025-2030 is forecast at 1.5% CAGR. Strongest growth in segments with complex and high value photomasks • The market grew at a good pace in 2025, with 8.9% • The growth was driven by new development and transition to more advanced and high value photomasks • The market is forecast to grow 2.6% in 2026. The long-term growth trend is also forecast to stay positive, with 1.6% CAGR 2025-2030
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Pattern Generators – OLED display photomask market Increasing photomask demand for OLED displays - 2026 expected to be another positive year • OLED development for mobile, IT and TV displays drives demand for OLED photomasks • The transition to OLED will continue; forecast area growth of OLED photomasks is more than triple that of total photomask area growth • In 2025, OLED mask area grew 4.9%, and the area is forecast to continue to grow with 6.5% in 2026 • CAGR 2025-2030 area growth for OLED display photomasks expected to be 5.4% • Photomasks for OLED are typically more complex than for LCD • More complex circuit design in each pixel • Requires higher image quality and tighter specs • Expected to drive need for advanced mask writer capacity 30 0 1 2 3 4 5 6 7 8 9 10 11 Thousands of square meters 2024A 2025A 2026F 2027F 2028F 2029F 2030F 5.4% Mask Area OLED Source: Omdia, Technology Group, FPD large-area photomask research, July 2026 Information is not an endorsement of Mycronic. Any reliance on these results is at the third party's own risk.
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