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These materials are not to be distributed Stena AB - Financial update Q2 2026 Peter Claesson, Director of Finance Investor call – 28 August, 2026 1
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These materials are not to be distributed Disclaimer and information concerning forward-looking statements 2 This presentation includes statements that are, or may be deemed to be, forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, Section 21E of the U.S. Securities Exchange Act of 1934 and the U.S. Private Securities Litigation Reform Act of 1995. Some of these statements can be identified as “forward-looking statements” by terms and phrases such as "anticipate," "should," "likely," "foresee," "believe," "estimate," "expect," "intend," "continue," "could," "may," "project," "plan," "predict," "will" and similar expressions. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this presentation and include statements regarding our intentions, beliefs or current expectations concerning, among other things, our results of operations, financial condition, liquidity, prospects, growth, strategies and the industries in which we operate and include references to assumptions that relate to the future prospects, developments and business strategies. Such statements reflect the current views and assumptions with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Factors that could cause the actual results to differ materially from those expressed or implied in such forward-looking statements, include, but are not limited to: changes in general economic and business conditions and markets; changes in laws and regulations; changes in International Financial Reporting Standards, IFRS; changes in currency exchange rates and interest rates; risks incident to vessel and drilling rig operations, including discharge of pollutants; introduction of competing products and services by other companies; changes in trading or travel patterns; increases in costs of operations or the inability to meet efficiency or cost reduction objectives; changes in our business strategy; and other risk factors listed in the reports we furnish to or file with the Securities and Exchange Commission from time to time. We do not intend, and undertake no obligation, to revise the forward-looking statements included in this presentation to reflect any future events or circumstances. Our actual results, performance or achievements could differ materially from the results expressed or implied by these forward-looking statements. This presentation includes financial information and other information for the last twelve months. If the period does not include twelve months during the current year, the last twelve-month period has been derived by adding the income statement for the year-to-date figure in the current year, to the full year income statement for the prior year and subtracting the income statement for the year-to-date figure last year. The results for the actual last twelve-month period, may not be comparable to the results for corresponding period one year ago.
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These materials are not to be distributed ADACTUMPROPERTY Stena AB consists of a diversified set of business areas OPERATING MATURE INDUSTRY SEGMENTS Restricted Group Tankers RoRo & RoPax NMG Revenues from operations excluding net gain/loss on sale of assets and change in fair value of investment properties SEK 53.4 billion EBITDA from operations excluding Other SEK 12.7 billion FERRIES OFFSHORE DRILLING SHIPPING Revenue and EBITDA split per business area LTM Q2 2026 Note: USD/SEK 9.2480 (average rate) current year-to-date period 3 34% 40% 11% 10% 27% 24% 21% 9% 7% 17%
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These materials are not to be distributed 4 Profit and loss Stena AB Group Note: USD/SEK 9.2480 (average rate) current year-to-date period Stena AB, Consolidated Group (SEK million) YTD Q2 2026 YTD Q2 2025 Change Revenues from operations 28 015 24 825 3 190 Net gain on sale of assets 918 456 462 Change in fair value of investment properties 356 56 300 Total Revenues 29 289 25 337 3 952 EBITDA 7 114 5 517 1 597 Result operational associates and JVs 86 -2 88 Depreciation -3 898 -3 726 -172 Income from operations 3 302 1 789 1 513 Financial net -1 203 -1 523 320 Associated companies 176 219 -43 EBT 2 274 485 1 789 Six months ended June 30
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These materials are not to be distributed 5 EBITDA by operating segment Note: USD/SEK 9.2480 (average rate) current year-to-date period 1) Within Operational EBITDA, SEK 57 million, have been transferred for the year 2025 from Other Shipping to Ferry Operations due to NTEX AB changing business area in 2026. Stena AB, Consolidated Group (SEK million) YTD Q2 2026 YTD Q2 2025 Change EBITDA from operations Ferry Operations 1 524 1 459 65 Offshore Drilling 776 667 109 RoRo 574 746 -172 Bulk 1 217 655 562 Technical / Other Shipping 40 -20 60 Real Estate 1 366 1 114 252 Stena Adactum 518 559 -41 Other -174 -175 1 Total EBITDA from operations 5 840 5 005 835 Net gain on sale of assets 918 456 462 Change in fair value of investment properties 356 56 300 Total EBITDA Stena AB Group 7 114 5 517 1 597 Six months ended June 30
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These materials are not to be distributed Committed capex for newbuildings STENA AB’S COMMITTED CAPEX PRIMARILY RELATES TO OUR ROPAX AND RORO BUSINESSES 6 Delivered 2024 and 2025: Marine Atlantic: Ala’suinu, delivered in Q1 2024 Brittany Ferries: Saint-Malo and Guillaume de Normandie, both delivered in Q4 2024 Two RoRo newbuildings delivered in July and November 2025 Deliveries 2026 and after: Corsica Linea: One RoPax newbuilding, delivery in 2026 where the counterparty acquired the vessel at delivery Attica: Two RoPax newbuildings, delivery 2027 on 10 year bareboat charters In January 2026, Stena RoRo placed an order for a new generation of RoRo vessels, with the first two C-Flexer vessels scheduled for delivery in March and June 2029. Committed capex for newbuildings on order as of 30 June 2026: (SEK billion per year) 6 Total 2026 2027 2028 and after 3.6 0.5 2.0 1.1
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Confidential, for internal use only Debt maturity profile and capitalization Debt maturity profile as of 1 July, 2026 Stena AB Restricted Group Capitalization table as of 30 June, 2026 Stena AB Group 7 Capitalization table as of 30 June, 2026 As of 30 June, 2026 Consolidated Restricted (SEKmm) Group Group EUR 738m RCF, maturity December 2030 776 776 USD 300m "Stena Investment RCF" 1 960 1 378 Adactum RCFs 2 900 0 Property Loans 26 398 0 Ship loans 22 780 22 780 Other loans 3 719 775 Capitalized leases 174 174 USD 860m 7,25% senior notes due 2031 8 343 8 343 USD 400m 7,625% senior notes due 2031 3 881 3 881 Total secured debt 70 930 38 106 EUR 240m unsecured RCF due 2029 0 0 Bilateral unsecured loans 3 000 3 000 Total unsecured debt 3 000 3 000 IFRS 16 lease liability 6 947 5 337 Total debt 80 877 46 443
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Confidential, for internal use only Liquidity position Stena AB Group Available liquidity as of 30 June, 2026: SEK 20.4 billion 8
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These materials are not to be distributed Business segment review 9
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These materials are not to be distributed Stena Line FERRY OPERATIONS Passenger and freight volumes stable year-to-date - Passenger volumes YTD Q2 0% vs last year* - Freight volumes YTD Q2 0% vs last year* In July 2025, the first of Stena Line’s next-gen methanol-ready hybrid ferries, Stena Futura was delivered from the China Merchants Jinling Shipyard. In November 2025, the second vessel, Stena Connecta was delivered. In November 2025, Stena Line acquired NLC Ferry Ab Oy/Wasaline and in 2026 took over operations of the ferry route between Umeå, Sweden, and Vaasa, Finland. In February 2026, Stena Line announced that the route Halmstad-Grenaa will shut down, the operation continued until 30th of April. *Including Wasaline 10 3 815 3 753 3 740 3 719 3 595 3 841 0 500 1 000 1 500 2 000 2 500 3 000 3 500 4 000 4 500 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 SEK million EBITDA from operations (Q) Net gain sale of assets (Q) EBITDA from operations (LTM)
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These materials are not to be distributed Volume development per month for Stena Line FERRY OPERATIONS 11 *Including Wasaline
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These materials are not to be distributed Route network for Stena Line FERRY OPERATIONS 12 Route network for AML Discontinuation of Halmstad - Grenaa route in April 2026
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These materials are not to be distributed Stena Drilling OFFSHORE DRILLING 13 Softer tendering activity and non-declared options have led to gaps in our contract coverage. Activity has since improved and coverage is expected to build through 2026 and into 2027. Awarded new contract for Stena DrillMAX in 2026 Stena Drilling has a proven track record of securing work through operational excellence. The drillship Stena Evolution is performing on the 10-year contract (of which seven years are firm) with Shell. The unit will be upgraded to drill high pressure wells (20k capabilities) in 2026. 2 946 2 474 2 187 1 325 1 321 1 433 0 500 1 000 1 500 2 000 2 500 3 000 3 500 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 SEK million EBITDA from operations (Q) Net gain sale of assets (Q) EBITDA from operations (LTM)
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These materials are not to be distributed Contract coverage OFFSHORE DRILLING 14
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These materials are not to be distributed Stena Bulk SHIPPING - TANKERS Suezmax benchmark rates - TD20 (USD/day) MR benchmark rates - TC2 & TC14 (USD/day) 15 Freight rates strengthened significantly entering 2026 and remain above long-term averages, despite easing from peak levels. - Suezmax 64,300 USD/d (ten-year average 29,800 USD/d) - MR/IMOIIMAX 31,200 USD/d (ten-year average 20,600 USD/d) EBITDA increased during Q2, driven by a strong spot market. 1 458 1 304 1 271 1 472 1 717 2 034 0 500 1 000 1 500 2 000 2 500 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 SEK million EBITDA from operations (Q) Net gain sale of assets (Q) EBITDA from operations (LTM) -20 000 20 000 60 000 100 000 140 000 180 000 220 000 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 $/day 30d average -20 000 0 20 000 40 000 60 000 80 000 100 000 120 000 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 $/day 30d average
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These materials are not to be distributed Stena RoRo SHIPPING – RORO & ROPAX 16 Strong financial performance, a reduction in operational earnings from long-term charter income following the Q4 2025 sale of Saint-Malo and Guillaume de Normandie to Brittany Ferries. In January 2026, Stena RoRo placed an order for a new generation of RoRo vessels, with the first two C-Flexer vessels scheduled for delivery in March and June 2029. In March 2026, the newbuilding Capu Rossu was delivered and sold to Corsica Linea Two additional E-Flexers to be delivered through 2027, bringing total confirmed orders in the series to fifteen. 1 231 1 334 1 422 1 304 1 325 1 133 0 200 400 600 800 1 000 1 200 1 400 1 600 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 SEK million EBITDA from operations (Q) Net gain sale of assets (Q) EBITDA from operations (LTM)
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These materials are not to be distributed Stena Property PROPERTY (UNRESTRICTED GROUP) 1 Excl. condominiums under construction 17 Stable EBITDA development with high occupancy rates: - Sweden: 98% - Outside Sweden: 95% Property portfolio1 amounted to SEK 60.5 billion by the end of Q2, with a loan to value of 43.9%. In April 2025, 1,350 residential units and 68,000 sqm of commercial space were added through the acquisition of Källfelts Byggnads AB. 2 191 2 236 2 330 2 452 2 517 2 704 0 500 1 000 1 500 2 000 2 500 3 000 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 SEK million EBITDA from operations (Q) Net gain sale of assets (Q) EBITDA from operations (LTM)
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These materials are not to be distributed Stena Adactum NEW BUSINESSES (UNRESTRICTED GROUP) 18 Organic sales up 1% YTD Q2, supported by solid performance in Nordic Garden Group and Ballingslöv International. Income from associated companies higher than last year. In February 2025, Adactum agreed to divest a majority stake in DMC to Coral Tree Partners. In August 2026, Gunnebo Group entered into an agreement to divest the business unit Gunnebo Entrance Control. The transaction is subject to customary regulatory approvals and is expected to close during the fourth quarter of 2026. 957 996 993 908 891 867 0 200 400 600 800 1 000 1 200 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 SEK million EBITDA from operations (Q) Net gain sale of assets (Q) EBITDA from operations (LTM)
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These materials are not to be distributed Q&A 19 28 August, 2026 Peter Claesson, Director of Finance
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These materials are not to be distributed 20