Interim report
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Interim Report Third Quarter 2026
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Nobia, Third Quarter 2026 Interim report 2 (21) Interim Report January-September 2026 Nordic transformation Third quarter summary: • Net sales increased to SEK 1,275m (1,262), corresponding to an organic decrease of less than -1% (1). • Operating profit increased to SEK 14m (-211). • Adjusted operating profit decreased to SEK 47m (69). • Adjusted gross margin increased to 37.9% (36.8). • Items affecting comparability (IAC) amounted to SEK -33m (-280), primarily related to the transfer of production in Sweden from Tidaholm to Nobia Park in Jönköping. • Profit after tax, total operations, amounted to SEK -53m (-1,922) corresponding to earnings per share after dilution, total operations, of SEK -0.35 (-20.30). • Free cash flow, total operations, amounted to SEK -157m (12). Following the divestment of the UK operations, finalized in March 2026, UK is reported as discontinued operations according t o IFRS 5. The income statement has been restated for earlier periods of 2025. Comments and numbers relate to continuing operations, unless otherwise stated. Comments and numbers referred to as “total operations” include the discontinued operations. Earnings per share have been recalculated according to IAS 33, because of the rights issue and reversed split. For discontinued operations, refer to Note 5. Jan-Dec 12 mos 2025 2026 Δ% 2025 2026 Δ% 2025 rolling Net sales, SEK m 1,262 1,275 1.0 4,221 4,197 -0.6 5,621 5,597 Gross margin, % 34.3 34.5 0.2 33.9 35.3 1.4 33.8 34.9 Gross margin, adjusted*, % 36.8 37.9 1.1 36.8 38.5 1.7 36.9 38.2 Operating profit (EBIT), SEK m -211 14 n.a. -155 112 n.a. -205 62 Operating profit (EBIT), adjusted*, SEK m 69 47 -31.9 227 248 9.3 299 320 Operating margin, % -16.7 1.1 17.8 -3.7 2.7 6.4 -3.6 1.1 Operating margin, adjusted*, % 5.5 3.7 -1.8 5.4 5.9 0.5 5.3 5.7 Operating margin before depr./imp. (EBITDA), % 10.7 10.0 -0.7 9.4 9.8 0.4 7.9 8.2 Profit after financial items, SEK m -287 -53 81.5 -368 -67 81.8 -499 -198 Total operations: Profit after tax, SEK m -1,922 -53 97.2 -2,149 -217 89.9 -3,253 -1,321 Profit after tax, adjusted*, SEK m -371 -27 92.7 -517 -109 78.9 -1,539 -1,131 Earnings per share, before dilution, SEK -20.30 -0.35 98.3 -22.70 -1.63 92.8 -34.37 -11.35 Earnings per share, before dilution, adjusted*, SEK -3.92 -0.18 95.4 -5.46 -0.82 85.0 -16.26 -9.72 Earnings per share, after dilution, SEK -20.30 -0.35 98.3 -22.70 -1.63 92.8 -34.37 -11.35 Earnings per share, after dilution, adjusted*, SEK -3.92 -0.18 95.4 -5.46 -0.82 85.0 -16.26 -9.72 Free cash flow, SEK m ** 12 -157 n.a. -133 -243 n.a. -326 -436 *Adjusted refers to excluding Items affecting comparability. **The alternative performance measure free cashflow will replace operating cashflow as of the first quarter 2026. Q3 Jan-Sep
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Nobia, Third Quarter 2026 Interim report 3 (21) CEO comment Nobia is home to some of the strongest kitchen brands in the Nordics; however, the strength of our brands is not reflected in our financial performance. Improving profitability, strengthening cash generation and creating a more competitive Nordic operating model are therefore our highest priorities. Net sales increased, supported by a positive currency effect, while organic sales were slightly negative. In a market where B2B demand remained stable at low levels and B2C continued to be volatile, several brands delivered encouraging performances, with improved average order values and stronger B2B sales. However, the overall development remained below our expectations. The negative organic growth was mainly driven by the ongoing transformation in Finland. The transformation in Finland will continue to weigh on sales in the short term. However, the actions we are taking are necessary and value creating. We are winding down the loss-making Novart business and replacing it with a more competitive and scalable set- up, with focused investments in the HTH brand in the Finnish market. This enables Nobia to compete with a stronger value proposition and customer experience to support long-term sustainable growth. We continued to invest in our brands and commercial initiatives to drive sales. During the quarter, HTH celebrated its 60th anniversary and presented a new visual identity, updated store concept and new products that will be rolled out next year. In Marbodal, Invita and Sigdal, we launched new premium concepts, alongside a new AI-powered design tool to enhance customer experience and sales processes through improved visualisation. While commercial development remains important, our immediate focus is set on restoring operational and financial performance. Profitability remained under pressure from the Nobia Park ramp-up and unfinished supply chain consolidation, as well as a cost base designed for a larger and more geographically diverse group than the Nordic-focused business we operate today. During Q3, we took decisive actions to address these challenges. In August, we announced a new Group structure designed to support Nobia’s competitiveness and profitability as a Nordic group. We are consolidating group functions, consolidating decentralised business units with full commercial accountability, and concentrating key capabilities around Nobia Park and Nobia Denmark’s headquarters in Aarhus. These changes create a lean, efficient, scalable and more customer-focused organisation. As part of this, we have also made changes to our Executive Committee. Yesterday, we announced the next step in our organisational transformation. Beginning in Q4, we are implementing the new, streamlined Nordic organisation, closing non-Nordic support functions and adjusting our office footprint. These measures alongside new ways of working will support both our value creation and profitability over time. The measures announced will generate annual run-rate cost savings of SEK 150m from Q4 2027. The foundation for the future Nobia is our consolidated and brand-agnostic supply chain. During the quarter, measures were taken to deliver on our promise to customers, including stabilising production volumes and on-time, in-full delivery performance at Nobia Park. There is still work to be done and we continue our assessment of the ramp- up and our broader supply chain network, and we expect to present the outcome and plan at the beginning of next year. In summary, we are working with urgency to build a strong platform for future value creation, while continuing to serve our customers and advancing commercial initiatives across our strong and leading brands. I would like to thank all colleagues across Nobia for their continued commitment and contribution during this important period of change. Jesper Gylling Olsen President & CEO
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Nobia, Third Quarter 2026 Interim report 4 (21) Third quarter Nobia Group Net sales, earnings and cash flow Net sales came in at SEK 1,275m (1,262) with an organic decrease of less than -1% (1). The gross margin increased to 34.5% (34.3) and the adjusted gross margin increased to 37.9% (36.8). Items affecting comparability (IAC) of SEK -43m in cost of goods sold, mainly connected to the ramp up of Nobia Park, weighed on the unadjusted gross margin. The adjusted gross margin was positively impacted by favourable average order value, as well as lower production costs. Sales grew in business to business (B2B), on the back of favourable development in HTH, but also in Invita and Sigdal. Similar to Q2, business to consumer (B2C) was below prior year. The operating profit increased to SEK 14m (-211), adjusted operating profit decreased to SEK 47m (69), positively impacted by favourable average order value and lower production costs offset mainly by a negative volume and mix effect. The operating profit was impacted by IAC of SEK –33m, mainly related to transfer of production in Sweden from Tidaholm to Nobia Park in Jönköping. Changes in exchange rates had a positive impact of SEK 20m (0) on operating profit. Cash flow from operating activities, total operations, amounted to SEK -46m (182), driven mainly by an unfavourable change in working capital mainly due to net working capital seasonality and partly due to timing effects from the stronger than normal Q2 development. Free cash flow, total operations, amounted to SEK -157m (12). Net debt excluding IFRS16 leases and pensions decreased to SEK 2,039m (2,645). 2 500 3 250 4 000 4 750 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 SEK m Business to Business Net sales 12 month rolling, SEK m 1 300 1 700 2 100 2 500 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 SEK m Business to Consumer Net sales 12 month rolling, SEK m SEKm 2025 2026 Δ% Net sales 1,262 1,275 1.0 Gross profit 433 440 1.6 Gross profit , adjusted 465 483 3.9 Gross margin, % 34.3 34.5 0.2 Gross margin, adjusted,% 36.8 37.9 1.1 Operating profit -211 14 n.a Operating profit, adjusted, SEKm 69 47 -31.9 Operating margin, % -16.7 1.1 17.8 Operating margin, adjusted, % 5.5 3.7 -1.8 Nobia Group Q3 2 5 8 400 800 1 200 1 600 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 %SEK m Nobia Group Net sales, SEK m Operating margin, adjusted, last 12 mos., % Δ% SEK m 2025 1,262 Organic growth -1 -7 Currency effects 2 20 2026 1 1,275 Q3 SEK m Translation effect Transaction effect Total Nobia Group 5 15 20 Currency effect EBIT Q3
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Nobia, Third Quarter 2026 Interim report 5 (21) January-September Nobia Group • Net sales for January to September 2026 totalled SEK 4,197m (4,221), corresponding to a flat organic growth of 0% (-1). • Operating profit increased to SEK 112m (-155). • Operating profit adjusted for items affecting comparability amounted to SEK 248m (227), corresponding to an operating margin of 5.9% (5.4). • Items affecting comparability amounted to SEK -136m (-382). • Profit after tax, total operations, amounted to SEK -217m (-2,149), corresponding to earnings per share after dilution of -1.63 SEK (-22.70). • Free cash flow was SEK -243m (-133). Net sales, earnings and cash flow Net sales came in at SEK 4,197m (4,221) with organic growth of 0% (-1). The gross margin came in at 35.3% (33.9) and the adjusted gross margin increased to 38.5% (36.8). Items affecting comparability of SEK -135m, mainly connected to the ramp up of Nobia Park, weighed on the unadjusted gross margin. The adjusted gross margin was positively impacted by favourable average order value, as well as lower production costs. The operating profit increased to SEK 112m (-155), adjusted operating profit increased to SEK 248m (227), positively impacted by the sales mix and lower production costs. The operating profit is impacted by IAC of SEK –136m, mainly related to transfer of production to Nobia Park. Changes in exchange rates had a positive impact of SEK 10m (-15) on operating profit. Cash flow from operating activities, total operations, amounted to SEK 183m (446), driven mainly by an adverse EBITDA development, non-cash items and an unfavourable net working capital development following the general seasonality of the continuing operations. Free cash flow, total operations, amounted to SEK -243m (-133) and is a net effect of the lower earnings coupled with unfavourable net working capital offset in part by the return towards normalized investment levels and the lease effect of the UK divestment. Net debt excluding IFRS16 leases and pensions decreased to SEK 2,039m (2,645), mainly due to the rights issue. SEKm 2025 2026 Δ% Net sales 4,221 4,197 -0.6 Gross profit 1,431 1,482 3.6 Gross profit , adjusted 1,552 1,617 4.2 Gross margin, % 33.9 35.3 1.4 Gross margin, adjusted,% 36.8 38.5 1.8 Operating profit -155 112 n.a Operating profit, adjusted, SEKm 227 248 9.3 Operating margin, % -3.7 2.7 6.4 Operating margin, adjusted, % 5.4 5.9 0.5 Net financial items -213 -179 16.0 Profit after financial items -368 -67 81.8 Jan-Sep Nobia Group Δ% SEK m 2025 4,221 Organic growth 0 -4 Currency effects 0 -20 2026 -1 4,197 Jan-Sep SEK m Translation effect Transaction effect Total Nobia Group -5 15 10 Currency effect EBIT Jan-Sep
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Nobia, Third Quarter 2026 Interim report 6 (21) Other information Change of segment reporting Following the divestment of the UK operations that was finalised in March 2026, and the decision to report the UK operations as discontinued operations the Group will report one segment 2026, Nobia Group. Region UK is reported as discontinued operations in 2025 and 2026. Changes in management Rasmus Laursen has been appointed as Group CFO, effective from August 12. He succeeds Robert Belkic, interim CFO. Rasmus Laursen joined Nobia in March 2026 as CFO, Nobia DK, with previous experience from Deloitte and, most recently, from the international retailer Bestseller. Philip Sköld, EVP Chief Operating Officer and Sara Björk, Chief Information Officer have left Nobia during the quarter. Financing As of September 30, 2026, Nobia has a multi-currency revolving credit facility (RCF) of SEK 2,500m with maturity in February 2029. At end of September 2026, SEK 2,100m of the facility was utilised. In accordance with the existing financing agreement, the credit facility will be reduced by SEK 500m upon expiry by end of June 2027. Group cash and cash equivalents amounted to SEK 30m (0). Available liquidity amounted to SEK 564m (860). Net debt, excluding IFRS 16 lease liabilities and pensions, amounted to SEK 2,039m (2,645). IFRS 16 lease liabilities were SEK 1,470m (2,231) and net pension provisions decreased to SEK 49m (107). The net debt/equity ratio, excluding IFRS 16 lease liabilities and pensions, was 0.95 (1.28). In the third quarter of 2026 net financial items amounted to SEK -67m (-76), of which net of returns on pension assets and interest expense on pension liabilities was SEK -1m (-1), interest on leases was SEK -28m (-23), and other net interest expense was SEK -38m (-52). The decrease in other net interest expense is mainly an effect of lower interest costs on the RCF. Items affecting comparability The third quarter of 2026 includes items affecting comparability of SEK -33m, primarily related to the transfer of production in Sweden from Tidaholm to Nobia Park in Jönköping as well as inventory write down and a reversal of a previously recognized IAC. January-September 2026 includes items affecting comparability of SEK -136m, primarily related to the transfer of production in Sweden from Tidaholm to Nobia Park in Jönköping as well as redundancies and inventory write down. Items affecting comparability are also detailed in a table on page 15.
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Nobia, Third Quarter 2026 Interim report 7 (21) Events after the close of the quarter On November 3, 2026, Nobia announced measures to implement its new Nordic organisation and consolidate group-wide capabilities. Following a comprehensive review, Nobia now takes the next steps in implementing a streamlined Nordic organisation, which includes workforce reductions across the entire group and consolidation of group-wide functions, starting in Q4 2026. For further details refer to press release published on November 3, 2026. Risks Financial risks refer primarily to currency exchange rates, interest rates, financing, tax and credit risks, as well as prices for raw materials. In the ordinary course of business, the Group is exposed to legal risks such as commercial, product liability and other disputes and provides for them as appropriate. A general economic downturn, cyber threats, a widespread financial crisis or other macroeconomic disturbances may, directly or indirectly, affect the Group negatively both in terms of revenues and profitability. Taking into account the remaining investments in the new factory in Jönköping, although now more limited, in combination with the weak market and the consequently challenging cash flow generation, the Group is closely monitoring its financing situation. For a more detailed description of Nobia’s risks and uncertainties, as well as risk management, refer to the 2025 Annual Report. Stockholm,4 November 2026 Jesper Gylling Olsen President & CEO Nobia AB (publ.) reg. no. 556528-2752
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Nobia, Third Quarter 2026 Interim report 8 (21) Auditor’s report This is a translation of the Swedish language original. In the event of any differences between this translation and the Swedish language original, the latter shall prevail. To the Board of directors in Nobia AB (publ.) corporate identity number 556528-2752 Introduction We have conducted a limited review of the condensed interim financial information (interim report) for Nobia AB (publ.) as of September 30, 2026, and the nine-month period ending on that date. The board of directors and the managing director are responsible for preparing and presenting 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 limited review. The focus and scope of the limited review We have conducted our limited review in accordance with the International Standard on Review Engagements ISRE 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity." A limited review consists of making inquiries, primarily of persons responsible for financial and accounting matters, performing analytical procedures, and other review procedures. A limited review has a different focus and a significantly smaller scope compared to the focus and scope of an audit conducted in accordance with ISA and generally accepted auditing standards. The review procedures taken in a limited review do not enable us to obtain the assurance that we would become aware of all significant matters that might have been identified in an audit. Therefore, the conclusion expressed based on a limited review does not have the assurance that a conclusion expressed based on an audit has. Conclusion Based on our limited review, nothing has come to our attention that causes us to believe that the interim report is not, in all material respects, prepared for the group in accordance with IAS 34 and the Annual Accounts Act and for the parent company in accordance with the Annual Accounts Act. Stockholm, 4 November 2026 Öhrlings PricewaterhouseCoopers AB Anna Rosendal Authorized Public Accountant Auditor-in-Charge Eric Valfridsson Authorized Public Accountant
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Nobia, Third Quarter 2026 Interim report 9 (21) Comments and numbers relate to continuing operations, unless otherwise stated. Consolidated income statement Consolidated statement of comprehensive income Jan-Dec 12 mos SEK m 2025 2026 2025 2026 2025 rolling Net sales 1,262 1,275 4,221 4,197 5,621 5,597 Cost of goods sold -829 -835 -2,790 -2,715 -3,720 -3,645 Gross profit 433 440 1,431 1,482 1,901 1,952 Selling and administrative expenses -430 -418 -1,378 -1,397 -1,945 -1,964 Other income/expenses -214 -8 -208 27 -161 74 Operating profit -211 14 -155 112 -205 62 Net financial items -76 -67 -213 -179 -294 -260 Profit after financial items -287 -53 -368 -67 -499 -198 Tax -4 -1 -40 -40 -137 -137 Profit from continued operations -291 -54 -408 -107 -636 -335 Result from discontinued operations, net after tax -1,631 1 -1,741 -110 -2,617 -986 Profit after tax, total operations -1,922 -53 -2,149 -217 -3,253 -1,321 Total profit attributable to: Parent Company shareholders -1,922 -53 -2,149 -217 -3,253 -1,321 Earnings per share before dilution, continuing operations, SEK -3.06 -0.36 -4.30 -0.80 -6.72 -2.88 Earnings per share after dilution, continuing operations, SEK -3.06 -0.36 -4.30 -0.80 -6.72 -2.88 Earnings per share before dilution, total operations, SEK -20.30 -0.35 -22.70 -1.63 -34.37 -11.35 Earnings per share after dilution, total operations, SEK -20.30 -0.35 -22.70 -1.63 -34.37 -11.35 Q3 Jan-Sep Jan-Dec 12 mos SEK m 2025 2026 2025 2026 2025 rolling Profit after tax, total operations -1,922 -53 -2,149 -217 -3,253 -1,321 Other comprehensive income Items that may be reclassified subsequently to profit or loss Exchange-rate differences attributable to translation of foreign operations -1 29 -127 -29 -163 -65 Cash flow hedges before tax * -2 -2 3 10 -1 6 Tax attributable to change in hedging reserve for the period ** 0 1 -1 -2 0 -1 -3 28 -125 -21 -164 -60 Items that will not be reclassified to profit or loss Remeasurements of defined benefit pension plans 11 -8 28 -16 52 8 Tax relating to remeasurements of defined benefit pension plans -3 2 -7 4 -12 -1 8 -6 21 -12 40 7 Other comprehensive income 5 22 -104 -33 -124 -53 Total comprehensive income -1,917 -31 -2,253 -250 -3,377 -1,374 Total comprehensive income attributable to: Parent Company shareholders -1,917 -31 -2,253 -250 -3,377 -1,374 Q3 Jan-Sep *Reversal recognised in profit and loss amounts to a SEK -3m (-4). New provision amounts to SEK 6m (1).(Jan-Dec 2025; 3) **Reversal recognised in profit and loss amounts to a SEK 1m (1). New provision amounts to SEK -1m (0).(Jan-Dec 2025;-1)
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Nobia, Third Quarter 2026 Interim report 10 (21) Consolidated balance sheet 30 Sep 30 Sep 31 Dec SEK m 2025 2026 2025 ASSETS Goodwill 687 708 674 Other intangible fixed assets 508 555 520 Tangible fixed assets 3,613 3,177 3,062 Right-of-use assets 1,955 1,425 1,452 Long-term receivables, interest-bearing (IB) 62 118 87 Long-term receivables 78 41 38 Deferred tax assets 503 209 200 Total fixed assets 7,406 6,233 6,033 Inventories 998 449 399 Accounts receivable 991 696 486 Current receivables, interest-bearing (IB) 0 0 16 Other receivables 481 258 339 Total current receivables 1,472 954 841 Cash and cash equivalents (IB) – 30 39 Assets held for sale – – 1,724 Total current assets 2,470 1,433 3,003 Total assets 9,876 7,666 9,036 SHAREHOLDERS' EQUITY AND LIABILITIES Share capital 225 233 225 Other capital contributions 2,514 3,962 2,514 Reserves 313 253 274 Profit brought forward -981 -2,294 -2,066 Total shareholders' equity attributable to Parent Company shareholders 2,071 2,154 947 Total shareholders' equity 2,071 2,154 947 Provisions for pensions (IB) 107 167 165 Other provisions 7 7 7 Deferred tax liabilities 98 140 119 Lease liabilities, interest-bearing (IB) 1,945 1,321 1,325 Other long-term liabilities, interest-bearing (IB) 2,677 2,069 2,983 Other long-term liabilities, non interest-bearing 4 1 1 Total long-term liabilities 4,838 3,705 4,600 Current lease liabilities, interest-bearing (IB) 286 149 154 Other current liabilities, interest-bearing (IB) 30 – – Accounts payable 1,227 766 798 Current liabilities and provisions 1,424 892 905 Liabilities attributable to assets held for sale – – 1,632 Total current liabilities 2,967 1,807 3,489 Total shareholders' equity and liabilities 9,876 7,666 9,036
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Nobia, Third Quarter 2026 Interim report 11 (21) Changes in consolidated shareholders’ equity Key ratios, Group SEK m Share capital Other capital contri- butions Exchange-rate differences attributable to translation of foreign operations Cash-flow hedges after tax Profit brought forward Total share- holders equity Opening balance, 1 Jan 2025 225 2,514 441 -3 1,147 4,324 Profit for the period, total operations – – – – -2,149 -2,149 Other comprehensive income for the period – – -127 2 21 –104 Total comprehensive income for the period – – -127 2 -2,128 -2,253 Closing balance, 30 Sep 2025 225 2,514 314 -1 -981 2,071 Opening balance, 1 Jan 2026 225 2,514 278 -4 -2,066 947 Profit for the period, total operations – – – – -217 -217 Other comprehensive income/loss for the period – – -29 8 -12 –33 Total comprehensive income for the period – – -29 8 -229 -250 New share issue, net of transaction costs 8 1,448 – – – 1,456 Allocation of share saving schemes – – – – 1 1 Closing balance, 30 Sep 2026 233 3,962 249 4 -2,294 2,154 Number of Treasury shares: 204,063. Attributable to Parent Company shareholders Jan-Dec 12 mos SEK m 2025 2026 2025 2026 2025 rolling Gross profit 433 440 1,431 1,482 1,901 1,952 Gross margin, % 34.3 34.5 33.9 35.3 33.8 34.9 EBITDA 135 127 398 411 445 458 EBITDA, % 10.7 10.0 9.4 9.8 7.9 8.2 Total depreciation -104 -113 -307 -299 -396 -388 Total impairment -242 0 -246 0 -254 -8 Operating profit -211 14 -155 112 -205 62 Operating profit, adjusted 69 47 227 248 299 320 Operating margin, % -16.7 1.1 -3.7 2.7 -3.6 1.1 Operating margin, adjusted, % 5.5 3.7 5.4 5.9 5.3 5.7 Return on operating capital, % -2.8 1.0 Return on shareholders equity, total operations, % -123.4 -62.5 Free cash flow, total operations 12 -157 -133 -243 -326 -436 Earnings per share before dilution, total operations, SEK * -20.30 -0.35 -22.70 -1.63 -34.37 -11.35 Earnings per share after dilution, total operations, SEK * -20.30 -0.35 -22.70 -1.63 -34.37 -11.35 Number of shares at period end before dilution, thousands ** 67,301 151,428 67,301 151,428 67,301 151,428 Average number of shares before dilution, thousands ** 67,301 151,428 67,301 132,733 67,301 116,375 Number of shares after dilution at period end, thousands ** 67,301 152,592 67,301 152,592 67,301 152,592 Average number of shares after dilution, thousands ** 67,301 151,610 67,301 132,868 67,301 116,511 Equity/assets ratio, % 21 28 10 – Debt/equity ratio, % 241 165 555 – Net debt, closing balance, SEK m 4,983 3,558 5,256 – Operating capital, closing balance, SEK m 7,054 5,712 5,431 – Capital employed, closing balance, SEK m 7,116 5,860 5,573 – Number of employees, total operations 4,001 1,992 3,758 – ** Excluding treasury shares. Q3 Jan-Sep * Earnings per share have been recalculated according to IAS 33, as a consequence of the rights issue and reversed split in 2026.
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Nobia, Third Quarter 2026 Interim report 12 (21) Consolidated cash flow statement, total operations 12 mos SEK m 2025 2026 2025 2026 2025 rolling Operating activities Operating profit -211 14 -155 112 -205 62 Operating profit/loss for discontinued operations -1671 1 -1,745 -4 -1,835 -94 Depreciation/Impairment 2,089 113 2,452 1 314 2 2,594 3 456 Adjustments for non-cash items 1 0 26 -54 -1 -81 Tax paid -4 -8 -44 -46 -88 -90 Change in working capital -22 -166 -88 -139 21 -30 Cash flow from operating activities 182 -46 446 183 486 223 Investing activities Investments in intangible and tangible fixed assets -83 -72 -360 -257 -499 -396 Other items in investing activities 3 1 31 5 29 3 Interest received 1 0 3 2 13 12 Change in interest-bearing assets 0 0 5 0 50 45 Divestment of companies – – – -50 – -50 Cash flow from investing activities -79 -71 -321 -300 -407 -386 Total cashflow from operating and investing activities 103 -117 125 -117 79 -163 Financing activities Interest paid -128 -60 -270 -232 -345 -307 Amortisation of leasing -90 -40 -250 -174 -342 -266 Change in other interest-bearing liabilities 71 79 91 4 -954 5 350 6 -695 New share issue – – – 1,456 – 1,456 Cash flow from financing activities -147 -21 -429 96 -337 188 Cash flow for the period excluding exchange-rate differences in cash and cash equivalents -44 -138 -304 -21 -258 25 Cash and cash equivalents at beginning of the period 50 171 270 39 270 0 Cash flow for the period -44 -138 -304 -21 -258 25 Exchange-rate differences in cash and cash equivalents -6 -3 34 12 27 5 Cash and cash equivalents at period-end 0 30 0 30 39 30 Free Cash flow * Jan-Dec 12 mos SEK m 2025 2026 2025 2026 2025 rolling Cash flow from operating activities 182 -46 446 183 486 223 Investments in fixed assets -83 -72 -360 -257 -499 -396 Other items in investing activities 3 1 31 5 29 3 Amortisation of leasing -90 -40 -250 -174 -342 -266 Free cashflow including repayment of lease liabilities before acquisition/divestment of operations, interest, change in interest bearing assets 12 -157 -133 -243 -326 -436 * Alternative Performance Measure, refer to "Definitions". Q3 1) Impairments during the period amounted to SEK 1,919m and pertained to goodwill SEK 1,397m, other intangible assets SEK 240m and right-of-use assets SEK 264m and other tangible assets SEK 18m. 2) No impairments during the period. 3) Impairments during the period amounted to SEK 1,910m and pertained to goodwill SEK 1,382m, other intangible assets SEK 249m and right-of-use assets SEK 261m and other tangible assets SEK 18m. 4) Net of repayment and raising of loans amounted to SEK -100m. 5) Net of repayment and raising of loans amounted to SEK -900m. 6) Net of repayment and raising of loans amounted to SEK 400m. Q3 Jan-Sep Jan-Dec Jan-Sep
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Nobia, Third Quarter 2026 Interim report 13 (21) Analysis of net debt Notes Note 1 – Accounting policies This interim report has been prepared in accordance with IFRS, with the application of IAS 34 Interim Financial Reporting. For the Parent Company, accounting policies are applied in accordance with Chapter 9, Interim Reports, of the Swedish Annual Accounts Act. Nobia has applied the same accounting policies in this interim report as were applied in the 2025 Annual Report, with the following exception: Depreciation of the development costs of the Group’s common business system is based on the usage and go-live dates of the entities and continues over useful life. The applied principle is effective from January 1,2026, and gives an depreciation period of approximately 10-17,5 years for the system. Other capitalized costs for development of software for the Group’s IT operations are depreciated according to a straight-line method based on the estimated useful life of the asset which are three to six years. The updated accounting principle has no effect on earlier periods. IFRS 18 Presentation and Disclosure in Financial Statements is effective from January 1, 2027, with retroactive application. The Group is continuing to identify all the effects that the amendments will have on the financial statements and their notes. A description of other new accounting policies in their entirety is provided in the 2025 Annual Report. Note 2 – References Segment information page 6. Items affecting comparability, page 15. Net sales by product group, page 15. Note 3 – Financial instruments - fair value Nobia's financial assets essentially comprise non-interest-bearing and interest-bearing receivables whereby cash flows only represent payment for the initial investment and, where applicable, for the time value and interest. These are intended to be held to maturity and are recognised at amortised cost, which is a reasonable approximation of fair value. Financial liabilities are primarily recognised at amortised cost. Financial instruments measured at fair value in the balance sheet are currency forward contracts comprised of assets at a value of SEK 24m (10) and liabilities at a value of SEK -11m (-4). These items are measured according to level 2 of the fair value hierarchy, meaning based on indirect observable market data. Nobia's financial instruments are measured at fair value and included in the balance sheet on the rows "Other receivables" and "Current liabilities". Note 4 – Related-party transactions There is no sale and manufacturing of kitchens in the Parent Company. The Parent Company invoiced Group-wide services to subsidiaries in an amount of SEK 45m (63) during the third quarter of 2026. The Parent Company's reported dividends from participations in Group companies totalled SEK 0m (0). Jan-Dec 12 mos SEK m 2025 2026 2025 2026 2025 rolling Opening balance, net debt 4 955 3 260 4 796 5 256 4 796 4 983 New leasing contracts/Closed leasing contracts in advance, net -67 44 -79 –824 –30 –775 Divestment of operations – – – 50 – 50 Translation differences -12 27 -114 39 –134 19 Free cash flow, total operations -12 157 133 243 326 436 Whereof investments in Nobia Park 36 38 256 175 318 237 Interest paid, net 127 61 267 231 332 296 Remeasurements of defined benefit pension plans -10 8 -28 16 -52 –8 Other change in pension liabilities 2 1 8 3 18 13 New share issue – – – –1 456 – –1 456 Dividend – – – – – – Closing balance, net debt 4 983 3 558 4 983 3 558 5 256 3 558 Q3 Jan-Sep
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Nobia, Third Quarter 2026 Interim report 14 (21) Note 5 – Discontinued operations All discontinued operations are included below. The operations in Austria and Netherlands were divested during the first quarter in 2024. During the third quarter of 2025, a write-down of SEK 11m was made related to the earnout from the divestment of the subsidiary in Austria. In the second quarter 2026, a write-down of the remaining earn-out from the Austrian divestment of SEK 15m was made. Further information about the discontinued operations during 2024 and 2025 is provided in the Annual report 2025 in Note 32. The decision to divest the UK operations was made at the end of 2025 and the agreement with the buyer was signed in January 2026. The transaction was completed on 2 March 2026. As a consequence, the income statement of region UK has been recognised as discontinued operations and earlier periods in 2025 have been restated. The net assets of the UK region were recognised as assets held for sale as per 31 December, 2025, and valued at the lower of book value and fair value. The revaluation resulted in an impairment of SEK -750m and is included in the result from discontinued operations in 2025. The result for the discontinued UK operations for 2026 up to the time of disposal can be found below. Result from discontinued operations Jan-Dec 12 mos SEK m 2025 2026 2025 2026 2025 rolling Net profit from discontinued operations -1,620 1 -1,730 -26 -1,856 -152 of which impairment of goodwill -1,397 – -1,397 – -1,397 – Profit/loss on disposal of operation, incl. sales costs -11 – -11 -178 -761 -928 Cumulative exchange rate gain – – – 94 0 94 Total -11 0 -11 -84 -761 -834 of which ewe Austria -11 – -11 -15 -11 -15 of which Bribus Netherlands – – – – – – of which UK operations – – – -69 -750 -819 Net profit -1,631 1 -1,741 -110 -2,617 -986 Attributable to: Equity holders of the parent company Net profit -1,631 1 -1,741 -110 -2,617 -986 Earnings per share (SEK) -17.24 0.01 -18.40 -0.83 -27.65 -8.47 Earnings per share after dilution (SEK) -17.24 0.01 -18.40 -0.83 -27.65 -8.47 Cash flow statement discontinued operations Jan-Dec 12 mos SEK m 2025 2026 2025 2026 2025 rolling Cash flow from operating activities 31 0 -64 29 -288 -195 Cash flow from investing activities -21 0 -43 -6 -87 -50 Cash flow from financing activities -4 0 -3 0 -8 -5 Cash flow from discontinued operations 6 0 -110 23 -383 -250 Q3 Jan-Sep Q3 Jan-Sep
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Nobia, Third Quarter 2026 Interim report 15 (21) Parent Company Items affecting comparability Operating capital, total operations Comparative data by product group Parent Company income statement Jan-Dec 12 mos SEK m 2025 2026 2025 2026 2025 rolling Net sales 63 45 242 188 393 339 Administrative expenses -336 -44 -556 -241 -719 -404 Other operating income/expense 0 -22 0 2 3 5 Operating profit/loss -273 -21 -314 -51 -323 -60 Financial items, net -5 -1 -271 -4 -214 53 Profit/loss after financial items -278 -22 -585 -55 -537 -7 Group contribution – – – – -387 -387 Tax on profit/loss for the period – – – – – – Profit/loss for the period -278 -22 -585 -55 -924 -394 Parent Company balance sheet 30 Sep 30 Sep 31 Dec SEK m 2025 2026 2025 Total fixed assets 1,803 3,757 3,369 Total current assets 2,326 3,189 1,611 Total assets 4,129 6,946 4,980 Total shareholders' equity 3,679 4,741 3,340 Total long-term liabilities 55 60 56 Total current liabilities 395 2,145 1,584 Total shareholders' equity, provisions and liabilities 4,129 6,946 4,980 Q3 Jan-Sep Jan-Dec 12 mos Items affecting comparability per function, SEK m 2025 2026 2025 2026 2025 rolling In gross profit -32 -43 -121 -135 -174 -188 In operating profit -280 -33 -382 -136 -504 -258 In taxes 58 7 79 28 104 53 In profit after tax -222 -26 -303 -108 -400 -205 Items affecting comparability Jan-Dec 12 mos in operating profit per item, SEK m 2025 2026 2025 2026 2025 rolling Restructuring costs -33 -26 -121 -125 -231 -235 Whereof factory transition costs Nobia Park -28 -34 -59 -115 -90 -146 Impairments and writedown -247 -7 -261 -11 -273 -23 Whereof Goodwill – – – – – – Total -280 -33 -382 -136 -504 -258 Q3 Jan-Sep Q3 Jan-Sep 31 Dec Operating capital Nobia Group, SEK m 2025 2026 2025 Operating assets 9,814 7,518 8,893 Operating liabilities 2,760 1,806 3,462 Operating capital 7,054 5,712 5,431 30 Sep Net sales Jan-dec 12 mos Group by product group, % 2025 2026 2025 2026 2025 rolling Kitchen furniture 73 73 73 73 73 73 Installation services 5 7 5 6 5 7 Other products 22 20 22 21 22 20 Total 100 100 100 100 100 100 Q3 Jan-Sep
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Nobia, Third Quarter 2026 Interim report 16 (21) Reconciliation of alternative performance measures Comments and numbers relate to continuing operations, unless otherwise stated. Nobia presents certain financial performance measures in the interim report that are not defined according to IFRS, known as alternative performance measures. Nobia believes that these measures provide valuable complementary information to investors and the company’s management since they facilitate assessments of trends and the company’s performance. Because not all companies calculate performance measures in the same way, these are not always comparable with measures used by other companies. Consequently, the performance measures are not to be seen as replacements for measures defined according to IFRS. For definitions of the measures that Nobia uses, see pages 19-20. Analysis of net sales EBITDA EQUITY FROM TOTAL OPERATIONS Analysis of external net sales Nobia Group % SEK m % SEK m 2025 1,262 4,221 Organic growth -1 -7 0 -4 Currency effects 2 20 0 -20 2026 1 1,275 -1 4,197 Jan-SepQ3 Jan-Dec 12 mos SEK m 2025 2026 2025 2026 2025 rolling Operating profit -211 14 -155 112 -205 62 Depreciation and impairment 346 113 553 299 650 396 EBITDA 135 127 398 411 445 458 Net Sales 1,262 1,275 4,221 4,197 5,621 5,597 % of sales 10.7 10.0 9.4 9.8 7.9 8.2 Jan-Dec 12 mos EBITDA excl. IFRS16 and items affecting comparability 2025 2026 2025 2026 2025 rolling EBITDA 135 127 398 411 445 458 IFRS 16 leasing -67 -69 -206 -209 -276 –279 EBITDA impact, items affecting comparability 38 33 137 136 251 250 EBITDA excl. IFRS16 and items affecting comparability 106 91 329 338 420 429 Q3 Jan-Sep Q3 Jan-Sep Jan-Dec 12 mos Average equity, SEK m 2025 rolling OB Equity attributable to Parent Company shareholders 4,324 2,071 CB Equity attributable to Parent Company shareholders 947 2,154 Average equity 2,636 2,113
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Nobia, Third Quarter 2026 Interim report 17 (21) Net debt Operating capital, total operations 30 Sep 30 Sep 31 Dec Net debt, SEK m 2025 2026 2025 Provisions for pensions (IB) 107 167 165 Other long-term liabilities, interest-bearing (IB) 4,622 3,390 4,308 Current liabilities, interest-bearing (IB) 316 149 154 Liabilities in asset held for sale (IB) – – 771 Interest-bearing liabilities 5,045 3,706 5,398 Long-term receivables, interest -bearing (IB) 62 118 87 Current receivables, interest-bearing (IB) 0 0 16 Cash and cash equivalents (IB) – 30 39 Interest-bearing assets 62 148 142 Net debt 4,983 3,558 5,256 30 Sep 30 Sep 31 Dec Net debt excl. IFRS 16 Leases and pension provisions, SEK m 2025 2026 2025 Net debt 4,983 3,558 5,256 Of which IFRS 16 Leases 2,231 1,470 1,479 Of which IFRS 16 Leases in assets held for sale – – 772 Of which provisions for pensions, net 107 49 78 Net debt excl. IFRS 16 Leases 2,752 2,088 3,005 Net debt excl. IFRS 16 Leases and provision for pensions 2,645 2,039 2,927 30 Sep 30 Sep 31 Dec Operating capital, SEK m 2025 2026 2025 Total assets 9,876 7,666 9,036 Other provisions -7 -7 -7 Deferred tax liabilities -98 -140 -119 Other long-term liabilities, non interest-bearing -4 -1 -1 Current liabilities, non interest-bearing -2,651 -1,658 -3,336 Non-interest-bearing liabilities -2,760 -1,806 -3,463 Capital employed 7,116 5,860 5,573 Interest-bearing assets -62 -148 -142 Operating capital 7,054 5,712 5,431 Jan-Dec 12 mos Average capital employed, SEK m 2025 rolling OB capital employed 9,468 7,116 CB capital employed 5,573 5,860 Average capital employed 7,521 6,488 Jan-Dec 12 mos Average operating capital, SEK m 2025 rolling OB Operating capital 9,120 7,054 CB Operating capital 5,431 5,712 Average operating capital 7,276 6,383
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Nobia, Third Quarter 2026 Interim report 18 (21) Operating profit and margin excl. items affecting comparability Gross profit and margin excl. items affecting comparability Quarterly data, Nobia Group Jan-Dec 12 mos SEK m 2025 2026 2025 2026 2025 rolling Operating profit -211 14 -155 112 -205 62 Items affecting comparability* -280 -33 -382 -136 -504 -258 Operating profit, adjusted 69 47 227 248 299 320 Jan-Dec 12 mos Operating margin, adjusted, % 2025 2026 2025 2026 2025 rolling Operating margin -16.7 1.1 -3.7 2.7 -3.6 1.1 Margin impact when items affecting comparability* excluded 22.2 2.6 9.1 3.2 8.9 4.6 Operating margin, adjusted, % 5.5 3.7 5.4 5.9 5.3 5.7 *Items affecting comparability, are specified on page 15. Q3 Jan-Sep Q3 Jan-Sep Jan-Dec 12 mos SEK m 2025 2026 2025 2026 2025 rolling Gross profit 433 440 1,431 1,482 1,901 1,952 Items affecting comparability* -32 -43 -121 -135 -174 -188 Gross profit, adjusted 465 483 1,552 1,617 2,075 2,140 Jan-Dec 12 mos Gross margin, adjusted, % 2025 2026 2025 2026 2025 rolling Gross margin 34.3 34.5 33.9 35.3 33.8 34.9 Margin impact when items affecting comparability* excluded 2.5 3.4 2.9 3.2 3.1 3.3 Gross margin, adjusted, % 36.8 37.9 36.8 38.5 36.9 38.2 *Items affecting comparability, are specified on page 15. Q3 Jan-Sep Q3 Jan-Sep Net sales, SEK m Q1 Q2 Q3 Q4 Q1 Q2 Q3 Net sales, Group 1,446 1,513 1,262 1,400 1,424 1,498 1,275 Gross profit, SEK m Q1 Q2 Q3 Q4 Q1 Q2 Q3 Gross profit, Group 510 488 433 470 491 551 440 Gross profit excl IAC*, SEK m Q1 Q2 Q3 Q4 Q1 Q2 Q3 Gross profit Group excl. IAC* 532 555 465 522 538 596 483 Gross margin, % Q1 Q2 Q3 Q4 Q1 Q2 Q3 Gross margin Group 35.3 32.3 34.3 33.6 34.5 36.8 34.5 Gross margin excl IAC*, % Q1 Q2 Q3 Q4 Q1 Q2 Q3 Gross margin Group excl IAC* 36.8 36.7 36.8 37.3 37.8 39.8 37.9 Operating profit, SEK m Q1 Q2 Q3 Q4 Q1 Q2 Q3 Operating profit Group 48 8 -211 -50 28 70 14 Operating profit excl IAC*, SEK m Q1 Q2 Q3 Q4 Q1 Q2 Q3 Operating profit Group, excl IAC* 70 88 69 72 73 128 47 Operating margin, % Q1 Q2 Q3 Q4 Q1 Q2 Q3 Operating margin Group 3.3 0.5 -16.7 -3.6 2.0 4.7 1.1 Operating margin excl IAC*, % Q1 Q2 Q3 Q4 Q1 Q2 Q3 Operating margin Group, excl. IAC* 4.8 5.8 5.5 5.1 5.1 8.5 3.7 *IAC, items affecting comparability, are specified on page 15. 2025 2026 2026 2026 2026 2026 2026 2025 2025 2025 2025 2025 2025 2025 2025 2026 2026 2026
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Nobia, Third Quarter 2026 Interim report 19 (21) Definitions Performance measure Calculation Purpose Adjusted A performance measure adjusted for items affecting comparability. Highlight an underlying performance by excluding items affecting comparability (IAC). Return on shareholders’ equity Net profit for the period as a percentage of average shareholders’ equity attributable to Parent Company shareholders based on opening and closing balances for the period. The calculation of average shareholders’ equity has been adjusted for increases and decreases in capital. Return on shareholders’ equity shows the total return on shareholders’ capital in accounting terms and reflects the effects of both the operational profitability and financial gearing. The measure is primarily used to analyse shareholder profitability over time. Return on operating capital Operating profit as a percentage of average operating capital based on opening and closing balances for the period excl. net assets attributable to discontinued operations. The calculation of average operating capital has been adjusted for acquisitions and divestments. Return on operating capital shows how well the operations use net capital that is tied up in the company. It reflects how both cost and capital- efficient net sales are generated, meaning the combined effect of the operating margin and the turnover rate of operating capital. The measure is used in profitability comparisons between operations in the Group and to assess the Group’s profitability over time. Gross margin Gross profit as a percentage of sales. This measure reflects the efficiency of the part of the operations that is primarily linked to production and logistics. It is used to measure cost efficiency in this part of the operations. EBITDA Earnings before depreciation/amortisation and impairment. To simplify, the measure shows the earnings- generating cash flow in the operations. It provides a view of the ability of the operations, in absolute terms, to generate resources for investment and payment to financers. EBITDA-margin Earnings before depreciation/ amortisation and impairment in relation to net sales, % Items affecting comparability (IAC) Items that affect comparability in so far as they do not reoccur with the same regularity as other items - for example costs for restructuring and for material one offs relating to sale and impairments of assets. Reporting items affecting comparability separately clearly shows the performance of the underlying operations. Net debt Interest-bearing liabilities less interest-bearing assets. Interest-bearing liabilities include provisions for pensions and leases. Net debt is a liquidity metric used to determine how well a company can pay all of its debts, pension liabilities and leasing obligations if they were due immediately. The measure is used as a component in the debt/equity ratio. Operating capital Capital employed excl. interest-bearing assets. Operating capital shows the amount of capital required by the operations to conduct its core operations. It is mainly used to calculate the return on operating capital. Free cash flow Cash flow from operating activities including cash flow from investing activities and repayments of lease liabilities, excl. cash flow from acquisitions/divestments of operations, interest received, and increase/decrease in interest-bearing assets. This measure comprises the cash flow generated by the underlying operations. The measure is used to show the amount of funds at the company’s disposal for paying financers of loans and equity or for use in growth through acquisitions.
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Nobia, Third Quarter 2026 Interim report 20 (21) Performance measure Calculation Purpose Organic growth Change in net sales, excl. acquisitions, divestments and changes in exchange rates. Organic growth facilitates a comparison of sales over time by comparing the same operations and excl. currency effects. Region Region corresponds to an operating segment under IFRS 8. Earnings per share Profit after tax for the period divided by a weighted average number of outstanding shares (net of treasury shares) during the period. Earnings per share is a common profitability measure that is used for valuation of the company’s total outstanding shares. Earnings per share after dilution Earnings per share, adjusted for dilutive effect from any potential ordinary shares attributable to outstanding performance share programs. Operating margin Operating profit as a percentage of net sales. This measure reflects the operating profitability of the operations. It is used to monitor the flexibility and efficiency of the operations before taking into account capital tied up. The performance measure is used both internally in governance and monitoring of the operation, and for benchmarking with other companies in the industry. Debt/equity ratio Net debt as a percentage of shareholders’ equity including non-controlling interests. A measure of the ratio between the Group’s two forms of financing. The measure shows the percentage of the loan capital in relation to capital invested by the owners, and is thus a measure of financial strength but also the gearing effect of lending. A higher debt/equity ratio means a higher financial risk and higher financial gearing. Equity/assets Shareholders’ equity including non-controlling interests as a percentage of balance-sheet total. This measure reflects the financial position and thus the long-term solvency. A healthy equity ratio/strong financial position provides preparedness for managing periods of economic downturn and financial preparedness for growth. It also provides a minor advantage in the form of financial gearing. Capital employed Balance-sheet total less non-interest-bearing provisions and liabilities. The capital that shareholders and lenders have placed at the company’s disposal. It shows the net capital invested in the operations, such as operating capital, with additions for financial assets. Currency effects “Translation effects” refers to currency effects when foreign results and balance sheets are translated to SEK. “Transaction effects” refers to the currency effects arising when purchases or sales are made in currency other than the currency of the producing country (functional currency). Leverage Leverage refers to the relation of net debt to EBITDA. It is measured excl. the impact of IFRS16 Leasing, pension debt and items affecting comparability Shows the number of years it would take to pay back outstanding debt, if the numerator and denominator remain unchanged. Available liquidity Available liquidity represents the aggregate of the Group's cash and cash equivalents, remaining undrawn commitment under the Group's revolving credit facility (RCF) and available overdraft facilities.
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Nobia, Third Quarter 2026 Interim report 21 (21) For further information Contact Rasmus Laursen, Group CFO, on +45 30 85 26 56 or ir@nobia.com Presentation The interim report will be presented on Wednesday, November 4 at 10:00 CET in a webcast teleconference that can be followed at https://edge.media-server.com/mmc/p/cvoq3pq5 To participate by telephone and have the possibility to ask questions Register in advance of the conference using the link below. Upon registering, each participant will be provided with Participant Dial In Numbers, and a unique Personal PIN: https://register-conf.media-server.com/register/BIb31e9d9e66774786b7772c70d8333ac9 In the 10 minutes prior to the call start time, use the Participant Dial in Numbers and your unique Personal PIN provided in the e-mail received at the point of registering. Financial calendar February 5, 2027; Year-end report for 2026 This interim report is information such that Nobia is obliged to make public pursuant to the EU’s Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, on 4 November 2026 at 08:30 CET.