Interim report
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STENA INTERIM REPORT 1 January – 30 June 2026
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Stena AB and Consolidated Subsidiaries INTERIM REPORT FOR THE SIX-MONTH PERIOD, 1 January – 30 June 2026 • Consolidated EBITDA for the six-month period ended 30 June 2026 amounted to SEK 7,114 (5,517) million. • Consolidated Operational EBITDA, excluding net gain on sale of assets and change in fair value of investment properties, for the six-month period ended 30 June 2026 amounted to SEK 5,840 (5,005) million. • The result before taxes amounted to SEK 2,274 (485) million for the six-month period ended 30 June 2026. • The liquidity position remains healthy. As of 30 June 2026, available liquidity amounted to SEK 20.4 billion. • The Group delivered improved earnings compared with the same period last year, supported by stronger tanker markets, continued stable performance in Property and active portfolio optimisation, including vessel sales and fleet renewal. FERRY OPERATION Increased operational EBITDA, improved margins in part of the business, offset by lower volumes due to closure of routes and continued subdued market conditions compared to the same period last year. OFFSHORE DRILLING Increased operational EBITDA compared to last year due to increased number of days on contract and strong cost control. During 2026, new contracts have been secured across the fleet, and all units are now fully contracted from the second half of 2026. SHIPPING Increased operational EBITDA as a result of higher charter rates within Tanker operations offset by decreased operational EBITDA due to vessels sold both within Tanker- and RoRo operations. PROPERTY Operational EBITDA increased compared to last year, mainly driven by acquisitions, completed projects and higher rental income. The fair value of investment properties was positively adjusted by SEK 356 million following the completion of projects. NEW BUSINESSES Decreased operational EBITDA mainly as a result of decreased operational EBITDA in Ballingslöv. Göteborg, 27 August 2026 Annika Hult Deputy CEO and Principal Financial Officer 2 – Condensed Consolidated Interim Report for the six-month period 1 January–30 June 2026
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Stena AB and Consolidated Subsidiaries CONTENT Condensed consolidated financial statements (unaudited) Condensed Consolidated Income Statements 4 Consolidated Statements of Comprehensive Income 5 Condensed Consolidated Balance Sheet 6 Condensed Consolidated Statements of Changes in Equity 7 Condensed Consolidated Statements of Cash Flows 7 Notes to Condensed Consolidated Financial Statements 8 Operating and Financial review 12 Other financial information – Restricted group 16 FORWARD-LOOKING STATEMENTS This Interim Report includes statements that are, or may be deemed to be, forward- looking statements and 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 other similar expressions. These forward-looking statements include all matters that are not historical facts. We do not intend, and undertake no obligation, to revise the forward- looking statements included in this report 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. 3 – Condensed Consolidated Interim Report for the six-month period 1 January–30 June 2026
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Stena AB and Consolidated Subsidiaries Three-month period ended 30 June Six-month period ended 30 June (SEK in million) 2026 2025 2026 2025 Revenue Ferry Operations 6,512 5,762 2 11,515 10,905 1 Offshore Drilling 1,561 1,531 2,757 2,876 Shipping 2,861 2,138 2 6,480 4,449 1 Property 1,495 951 2,528 1,844 New Businesses 2,715 2,722 4,722 4,741 Other 11 6 13 10 Total revenue 15,155 13,110 28,015 24,825 Net result on sale of vessels 353 478 890 478 Net result on sale/liquidation of operations 1 –34 28 –22 Total other income 354 444 918 456 Change in fair value of investment properties 209 56 356 56 Total income, net result on sale of operations and change in fair value of investment properties 15,718 13,610 29,289 25,337 Direct operating expenses Ferry Operations –4,775 –4,131 2 –8,858 –8,339 1 Offshore Drilling –835 –913 –1,689 –1,869 Shipping –1,656 –1,134 2 –4,016 –2,509 1 Property –626 –267 –1,002 –576 New Businesses –1,886 –1,877 –3,355 –3,349 Other –3 14 5 31 Total direct operating expenses –9,781 –8,308 –18,915 –16,611 Gross profit/loss Selling and administrative expenses –1,595 –1,640 –3,260 –3,209 Profit/loss from investments in operating associates 82 –20 86 –2 Depreciation, amortisation and impairment –1,888 –1,859 –3,898 –3,726 Total operating expenses –13,182 –11,827 –25,987 –23,548 Operating profit/loss 2,536 1,783 3,302 1,789 Three-month period ended 30 June Six-month period ended 30 June (SEK in million) 2026 2025 2026 2025 Result from investments in strategic associates 90 1 176 219 Dividends received 51 35 54 43 Gains/losses on sale of securities 131 195 271 275 Interest income 109 50 225 146 Interest expenses –863 –760 –1,646 –1,778 Exchange gains/losses –21 3 29 –16 Other finance income/costs –118 –77 –137 –193 Financial net –621 –553 –1,028 –1,304 Profit/loss before tax 1,915 1,230 2,274 485 Income taxes –145 –140 –147 –79 Profit/loss for the period 1,770 1,090 2,127 406 Profit/loss for the period attributable to: Shareholders of the Parent company 1,769 1,091 2,127 411 Non-controlling interests 1 –1 0 –5 Profit/loss for the period 1,770 1,090 2,127 406 CONDENSED CONSOLIDATED INCOME STATEMENTS (UNAUDITED) 1) Within Revenue, SEK 1,926 million and within Direct operating expenses, SEK 1,533 million have been transferred for the year 2025 from Shipping to Ferry Operations due to NTEX AB changing business area as of 1 January 2026. 2) Within Revenue, SEK 972 million and within Direct operating expenses, SEK 754 million have been transferred for the year 2025 from Shipping to Ferry Operations due to NTEX AB changing business area as of 1 January 2026. 4 – Condensed Consolidated Interim Report for the six-month period 1 January–30 June 2026
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Stena AB and Consolidated Subsidiaries Three-month period ended 30 June Six-month period ended 30 June (SEK in million) 2026 2025 2026 2025 Profit/loss for the period 1,770 1,090 2,127 406 Other comprehensive income Items that may subsequently be reclassified to profit or loss Change in fair value reserve, net of tax 36 3 –43 19 Change in hedging reserve, net of tax –383 –740 –3 –765 Change in translation reserve 541 57 930 –1,730 Share of other comprehensive income of associates –96 –24 26 –33 Items that will not be reclassified to profit or loss Change in fair value reserve, net of tax –29 11 –122 –42 Change in revaluation reserve, net of tax 76 58 117 –165 Remeasurements of post-employment benefit obligations –22 196 –22 200 Share of other comprehensive income of associates 138 –6 –24 –164 Other comprehensive income for the period 261 –445 859 –2,680 Total comprehensive income for the period 2,031 645 2,986 –2,274 Total comprehensive income attributable to: Shareholders of the Parent company 2,027 641 2,983 –2,275 Non-controlling interests 4 4 3 1 Total comprehensive income for the period, net of tax 2,031 645 2,986 –2,274 The accompanying notes form an integral part of these Condensed Consolidated Financial Statements. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) 5 – Condensed Consolidated Interim Report for the six-month period 1 January–30 June 2026
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Stena AB and Consolidated Subsidiaries CONDENSED CONSOLIDATED BALANCE SHEET (UNAUDITED) (SEK in million) 30 June 2026 31 December 2025 Assets Non-current assets Intangible assets 8,010 7,548 Property, plant and equipment Vessels 35,439 36,333 Construction in progress 2,549 2,455 Equipment 2,251 2,564 Land and buildings 3,946 3,775 Ports 6,028 6,134 Total property, plant and equipment 50,213 51,261 Investment property 59,021 57,097 Financial assets Investments reported according to the equity method 5,675 5,408 Marketable securities 3,731 3,204 Surplus in funded pension plans 901 903 Other non-current assets 8,206 8,159 Total financial assets 18,513 17,674 Deferred tax assets 2,450 2,176 Total non-current assets 138,207 135,756 Current assets Inventories 1,925 2,338 Trade receivables 5,916 3,942 Other receivables 2,509 2,415 Prepayments and accrued income 4,466 3,714 Short-term investments 3,810 3,385 Cash and cash equivalents 4,601 2,991 Assets held for sale 2,688 361 Total current assets 25,915 19,146 Total assets 164,122 154,902 (SEK in million) 30 June 2026 31 December 2025 Equity and liabilities Equity 54,541 51,783 Non-current liabilities Deferred tax liabilities 7,453 7,614 Pension liabilities 669 639 Other provisions 104 95 Long-term debt 57,735 56,426 Senior notes 12,224 11,606 Lease liabilities 5,238 4,755 Other non-current liabilities 3,591 3,567 Total non-current liabilities 87,014 84,702 Current liabilities Short-term debt 3,797 4,294 Lease liabilities 1,883 1,688 Trade payables 2,912 2,626 Tax liabilities 342 189 Other liabilities 2,776 2,721 Accruals and deferred income 8,760 6,899 Liabilities directly attributable to assets classified as held for sale 2,097 Total current liabilities 22,567 18,417 Total equity and liabilities 164,122 154,902 6 – Condensed Consolidated Interim Report for the six-month period 1 January–30 June 2026
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Stena AB and Consolidated Subsidiaries Equity attributable to shareholders of the Parent company (SEK in million) Share capital Reserves Retained earnings, incl. profit for the period Total Non- controlling interests Total equity Closing balance, 31 December 2024 5 10,282 43,408 53,695 122 53,817 Change in fair value reserve, net of tax –29 6 –23 –23 Change in hedging reserve, net of tax –765 –765 –765 Change in revaluation reserve, net of tax –226 61 –165 –165 Change in translation reserve –1,736 –1,736 6 –1,730 Change in associates –197 –197 –197 Remeasurement of post-employment benefit obligation 200 200 200 Other comprehensive income –2,756 70 –2,686 6 –2,680 Profit for the period 411 411 –5 406 Total comprehensive income –2,756 481 –2,275 1 –2,274 Change in non-controlling interest 11 11 Dividend –300 –300 –2 –302 Closing balance, 30 June 2025 5 7,526 43,589 51,120 132 51,252 Closing balance, 31 December 2025 5 6,821 44,852 51,679 104 51,783 Change in fair value reserve, net of tax –193 28 –165 –165 Change in hedging reserve, net of tax –3 –3 –3 Change in revaluation reserve, net of tax 59 58 117 117 Change in translation reserve 927 927 3 930 Change in associates 2 2 2 Remeasurement of post-employment benefit obligation –22 –22 –22 Other comprehensive income 790 66 856 3 859 Profit for the period 2,127 2,127 2,127 Total comprehensive income 790 2,193 2,983 3 2,986 Dividend –225 –225 –3 –228 Closing balance, 30 June 2026 5 7,611 46,821 54,437 104 54,541 CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) Six-month period ended 30 June (SEK in million) 2026 2025 Cash flow from operating activities Profit before tax for the period 2,274 485 Depreciation, amortisation and impairment 3,898 3,726 Change in fair value of investment properties –356 –56 Income tax paid –203 –263 Other non-cash and non-operating adjustments –1,070 –1,236 Cash flow from operating activities before changes in working capital 4,543 2,656 Change in working capital Change in inventory 451 –288 Change in trade receivables and other receivables –2,125 82 Change in trade payables and other payables 1,519 1,366 Cash flow from operating activities 4,388 3,816 Cash flow from investing activities Capital expenditure on intangible assets –151 –147 Capital expenditure on property, plant and equipment –3,683 –7,089 Proceeds from sale of property, plant and equipment 1,280 682 Purchase of operations, net of cash –296 –83 Proceeds from sale of operations, net of cash 75 185 Investment in strategic associates –26 –148 Purchase of securities –1,138 –653 Proceeds from sale of securities 466 572 Other investing activities –18 132 Cash flow from investing activities –3,491 –6,550 Cash flow from financing activities Proceeds from issuance of short and long-term debt 3,270 9,063 Repayment of short and long-term debt –2,616 –6,933 Net change in borrowings on line-of-credit agreements 1,161 598 Repayment of lease liabilities –788 –756 Dividend paid –228 –302 Other financing activities –190 –13 Cash flow from financing activities 609 1,657 Effect of exchange rate changes on cash and cash equivalents 104 –323 Net change in cash and cash equivalents 1,610 –1,400 Cash and cash equivalents at the beginning of period 2,991 4,433 Cash and cash equivalents at the end of period 4,601 3,033 The accompanying notes form an integral part of these Condensed Consolidated Financial Statements. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) 7 – Condensed Consolidated Interim Report for the six-month period 1 January–30 June 2026
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Stena AB and Consolidated Subsidiaries NOTE 1 — BASIS OF PRESENTATION The accompanying condensed consolidated financial statements present the financial position and result of operations of Stena AB (publ) and its subsidiaries (Stena) and have been prepared in accordance with IAS 34, “Interim financial reporting”. The condensed consolidated interim financial information should be read in conjunction with the annual financial statements for the year ended on 31 December 2025, which have been prepared in accordance with IFRS. The interim financial information included in the condensed consolidated financial statements has not been audited and reflects all adjustments (consisting only of normal recurring adjustments) that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. Interim results for the six months ended on 30 June 2026 are not necessarily an indication of the results to be expected for the full year. Our financial reports are presented in SEK, which is the functional currency of the Company. Unless otherwise indicated, all amounts are rounded to the nearest million. Figures in the reports are based on a consolidation system in SEK thousands. Totals in tables may not always equal the sum of the included rounded numbers as a result of rounding. NOTE 2 — ACCOUNTING POLICIES Except for as noted below the accounting policies applied are consistent with those of the annual financial statements for the year ended 31 December 2025, as described in the annual financial statements. Taxes on income during the interim periods are accrued using the tax rate that would be applicable to expected total annual earnings. Stena’s Annual Report 2025 describes the content of the new accounting principles that are regarded as material for the Stena AB Group (see link https:// www.stena.com/news-finance/investor-relations/reports/). NEW OR AMENDED ACCOUNTING POLICIES APPLIED FROM 2026 There are no new accounting policies applicable from 2026 that significantly affect the Stena AB Group. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 8 – Condensed Consolidated Interim Report for the six-month period 1 January–30 June 2026
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Stena AB and Consolidated Subsidiaries NOTE 3 — SEGMENT INFORMATION REVENUE Three-month period ended 30 June Lease income Products Service Construction Contracts Other Total (SEK in million) 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 Ferry Operations 39 40 286 279 6,154 5,433 1 33 10 1 6,512 5,762 1 Offshore Drilling 704 692 856 836 1 3 1,561 1,531 Shipping: Roll-on/Roll-off vessel 153 358 13 87 28 18 14 271 400 Tanker 950 537 803 467 17 23 1,770 1,027 Other Shipping 808 693 1 12 18 1 820 711 1 Total Shipping 1,103 895 13 1,698 1,188 1 47 55 1 2,861 2,138 1 Property 943 873 18 17 534 61 1,495 951 New Businesses 2,315 2,256 11 400 455 2,715 2,722 Other 8 5 3 1 11 6 Total 2,789 2,500 2,614 2,535 8,734 7,490 400 455 618 130 15,155 13,110 1) Within Service, SEK 969 million and within Other, SEK 3 million have been transferred for the year 2025 from Other Shipping to Ferry Operations due to NTEX AB changing business area as of 1 January 2026. Lease income Products Service Construction Contracts Other Total (SEK in million) 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 Ferry Operations 80 62 446 440 10,953 10,386 1 36 16 1 11,515 10,905 1 Offshore Drilling 1,238 1,297 1,513 1,571 6 8 2,757 2,876 Shipping: Roll-on/Roll-off vessel 388 738 13 105 72 1,207 18 1,713 828 Tanker 1,662 1,142 1,528 979 39 49 3,229 2,170 Other Shipping 1,517 1,429 1 21 23 1 1,538 1,452 1 Total Shipping 2,050 1,880 13 3,150 2,480 1 1,267 90 1 6,480 4,449 1 Property 1,975 1,691 36 33 517 120 2,528 1,844 New Businesses 3,941 3,829 15 781 897 4,722 4,741 Other 1 1 8 7 4 1 13 10 Total 5,344 4,930 4,400 4,269 15,660 14,493 781 897 1,830 235 28,015 24,825 1) Within Service, SEK 1,920 million and within Other, SEK 6 million have been transferred for the year 2025 from Other Shipping to Ferry Operations due to NTEX AB changing business area as of 1 January 2026. Six-month period ended 30 June (SEK in million) 2026 2025 Capital expenditures Ferry Operations 1,070 1,088 Offshore Drilling 806 1,139 Shipping: Roll-on/Roll-off vessels 553 509 Tanker 41 2 Other shipping 11 20 Total Shipping 605 531 Property 1,129 4,254 New Businesses 56 62 Other 17 15 Total 3,683 7,089 Six-month period ended 30 June 9 – Condensed Consolidated Interim Report for the six-month period 1 January–30 June 2026
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Stena AB and Consolidated Subsidiaries Three-month period ended 30 June Six-month period ended 30 June (SEK in million) 2026 2025 2026 2025 Ferry Operations Operational EBITDA 1,276 1,077 2 1,524 1,459 1 Net result on sale of vessels 478 478 Net result on sale/liquidation of operations –11 Depreciation, amortisation and impairment –729 –680 2 –1,645 –1,354 1 Net result from investments in operating associates –38 –35 –59 –28 Operating result 509 840 –181 544 1 Offshore Drilling Operational EBITDA 558 446 776 667 Net result on sale/liquidation of operations –32 –35 Depreciation, amortisation and impairment –615 –647 –1,184 –1,338 Operating result –57 –233 –409 –706 Shipping – RoRo Operational EBITDA 161 354 574 746 Depreciation, amortisation and impairment –98 –141 –195 –293 Operating result 63 213 379 453 – Tanker Operational EBITDA 687 370 1,217 655 Net result on sale of vessels 353 890 Net result on sale/liquidation of operations –3 Depreciation, amortisation and impairment –328 –273 –639 –511 Net result from investments in operating associates 112 2 141 7 Operating result 824 99 1,609 148 – Other shipping Operational EBITDA 22 –9 2 40 –20 1 Net result on sale/liquidation of operations –2 –30 Depreciation, amortisation and impairment –12 –10 2 –24 –21 1 Net result from investments in operating associates 2 –2 2 –3 Operating result 12 –23 18 –74 1 Total Shipping Operating result 899 289 2,007 527 Property Operational EBITDA 787 599 1,366 1,114 Change in fair value of investment properties 209 56 356 56 Depreciation, amortisation and impairment –2 –2 –4 –4 Net result from investments in operating associates 6 6 12 10 Operating result 999 659 1,730 1,176 RECONCILIATION BETWEEN OPERATIONAL EBITDA AND OPERATING PROFIT BY SEGMENT 10 – Condensed Consolidated Interim Report for the six-month period 1 January–30 June 2026
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Stena AB and Consolidated Subsidiaries Three-month period ended 30 June Six-month period ended 30 June (SEK in million) 2026 2025 2026 2025 New Businesses Operational EBITDA 397 422 518 559 Net result on sale/liquidation of operations 27 57 Depreciation, amortisation and impairment –99 –101 –195 –195 Operating result 298 321 351 421 Other Operational EBITDA –107 –97 –174 –175 Depreciation, amortisation and impairment –6 –5 –11 –9 Net result from investments in operating associates 10 –12 12 Operating result –112 –92 –197 –172 Total Operational EBITDA 3,780 3,161 5,840 5,005 Net result on sale of vessels 353 478 890 478 Net result on sale/liquidation of operations 1 –34 28 –22 Change in fair value of investment properties 209 56 356 56 Depreciation, amortisation and impairment –1,888 –1,859 –3,898 –3,726 Net result from investments in operating associates 82 –19 86 –2 Operating result 2,536 1,783 3,302 1,789 1) Within Operational EBITDA, SEK 57 million, within Depreciation, amortisation and impairment, SEK 38 million and within Operating result, SEK 19 million have been transferred for the year 2025 from Other Shipping to Ferry Operations due to NTEX AB changing business area as of 1 January 2026 2) Within Operational EBITDA, SEK 47 million, within Depreciation, amortisation and impairment, SEK 44 million and within Operating result, SEK 3 million have been transferred for the year 2025 from Other Shipping to Ferry Operations due to NTEX AB changing business area as of 1 January 2026 RECONCILIATION BETWEEN OPERATIONAL EBITDA AND OPERATING PROFIT BY SEGMENT, CONTINUED 11 – Condensed Consolidated Interim Report for the six-month period 1 January–30 June 2026
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Stena AB and Consolidated Subsidiaries Stena generates revenue primarily from ferry operations, chartering out its owned, chartered-in and leased Roll-on/Roll-off vessels, tankers and drilling rigs, managing tankers, sales of vessels, income from Investments, New Businesses and real estate rents. The period from June through September is the peak travel season for passengers of the ferry operations. Chartering activities are not generally significantly affected by seasonal fluctuations, but variations over the year may occur as a consequence of, among other things, vessel utilisation rates, dry-docking and charter rates. Any sale or acquisition of vessels, drilling rigs and real estate may also have an impact on the results of each period. SIGNIFICANT EVENTS OF THE FIRST SIX-MONTH PERIOD OF 2026 On 1 January 2026, the company NTEX AB was sold internally within the Stena AB Group from Stena Rederi AB to Stena Line Scandinavia AB. At the same time, the company changed its business area from Other Shipping to Ferry Operations. Comparative figures for the previous year have therefore been reclassified from Other Shipping to Ferry Operations where applicable. In January 2026, an agreement was entered into with the shipyard China Merchants Industries regarding a new generation of C-Flexer RoRo vessels. A contract was signed for two vessels, with options for an additional four. The first two C-Flexer RoRo vessels are scheduled for delivery in March and June 2029, respectively. The optional vessels will thereafter be delivered at three-month intervals, should the options be exercised. In January 2026, Stena Line acquired all shares in NLC Ferry Ab Oy/ Wasaline, which operates the route between Vaasa in Finland and Umeå in Sweden. In January 2026, Stena Line acquired the port operating company Terrabalt in Liepãja, Latvia. In connection with the acquisition, the company was renamed Stena Line Ports Liepãjas SEZ SIA. In January 2026, the MR vessel Stena Impero was sold to an external party, Torm. In February 2026, Stena Adactum acquired additional shares in Inwido AB increasing its ownership interest to 6%. In February 2026, a decision was taken to discontinue the Halmstad– Grenå route at the end of April 2026. In March 2026, the unsecured credit facility of EUR 240 million, signed in May 2024 with a banking consortium, was extended by one year, resulting in a new maturity date in 2029. In March 2026, the Suezmax vessel Stena Sunshine was sold to an external party, Thenamaris. In March 2026, the newbuilding Capu Rossu was delivered and immediately sold to an external party, Corsica Linea. In March 2026, a contract was signed with Chevron for Stena Forth for a one well campaign in Egypt commencing in May 2026. In April 2026, a contract was signed with Energean for Stena DrillMAX for a one well campaign in Greece commencing in Q1 2027. In April 2026, a project to upgrade Stena Forth, one of the Group’s sixth-generation ultra-deepwater drilling vessels, was successfully completed. In April 2026, the Suezmax vessel Stena Surprise was sold to an external party. In May 2026, an agreement was signed to sell the vessel Stena Vinga to an external party, DFDS. The sale is expected to be completed in November 2026. In June 2026, a contract was signed with Chevron for Stena Forth for a one well campaign in Namibia commencing in September 2026. In June 2026, a contract was signed with Exxon Mobil for Stena IceMax for an initial two well firm campaign in Cyprus and one initial well in Egypt commencing in December 2026 with additional two further option wells. SUBSEQUENT EVENTS In July 2026, Ballingslöv International AB acquired Kitchen Bath Ventures SL, one of Spain’s leading companies within kitchen, bath- room and storage solutions. In August 2026, Gunnebo Group, included in New Businesses strategical portfolio, has signed an agreement to divest the business unit Entrance Control to ASSA ABLOY. The transaction is subject to customary regulatory approvals and is expected to close during the fourth quarter of 2026. In August 2026, the vessel Stena Nautica was sold and delivered to an external party, Rederiaktiebolaget Eckerö. In August 2026, a new contract was signed with Esso Exploration and Production Guyana Limited for Stena Carron extending this contract until 30 June 2027 with options for further extensions. In August 2026, Stena Adactum acquired an additional 4.3% of the shares in Inwido AB. Following the acquisition, Stena Adactum's ownership in Inwido amounts to 10.1% of the shares and votes, making Stena Adactum the largest shareholder in the company. CURRENCY EFFECTS Revenues and expenses, reported in Swedish kronor, are significantly affected by fluctuations in currency exchange rates, primarily relative to the U.S. dollar, the British pound and the Euro. The Group seeks to mitigate the impact of potential adverse foreign currency exchange fluctuations by matching, to a possible extent, revenues and expenses in the same currency. In addition, the Group enters into certain derivative financial instruments. In the six-month period ended 30 June 2026, approximately 29% of the Group's total revenues were generated in USD, approximately 23% were generated in EUR, approximately 17% were generated in GBP and approximately 21% were generated in SEK. In the six-month period ended 30 June 2026, approximately 29% of the Group's total expenses were incurred in USD, approximately 23% were incurred in EUR, approximately 21% were incurred in GBP and approximately 17% were incurred in SEK. The reported gross revenues and expenses were affected by changes in currency exchange rates. The exchange rates used for consolidation purposes are as follows: OPERATING AND FINANCIAL REVIEW Jan–Jun Jan–Jun Average rates: 2026 2025 Change USD 9.2480 10.1853 –9% GBP 12.4392 13.1752 –6% EUR 10.7872 11.0958 –3% As of 30 June As of 31 December Closing rates: 2026 2025 Change USD 9.7015 9.2108 5% GBP 12.8661 12.4116 4% EUR 11.0811 10.8190 2% 12 – Condensed Consolidated Interim Report for the six-month period 1 January–30 June 2026
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Stena AB and Consolidated Subsidiaries REVENUES Total revenues increased by SEK 3,190 million to SEK 28,015 (24,825) million in the six months ended 30 June 2026. The revenues are higher within the Ferry Operations, Shipping and Property segments but lower or flat within the Offshore Drilling and New Businesses segments compared to the same period last year. DIRECT OPERATING EXPENSES Total direct operating expenses increased by SEK 2,304 million to SEK 18,915 (16,611) million in the six months that ended on 30 June 2026. The operating expenses are higher or flat within the Ferry Operations, Shipping, Property and New Businesses segments but lower within the Offshore Drilling segment compared to the same period last year. SELLING AND ADMINISTRATIVE EXPENSES Selling and administrative expenses increased by SEK 51 million to SEK 3,260 (3,209) million in the six months that ended 30 June 2026 compared to the same period last year. DEPRECIATION, AMORTISATION AND IMPAIRMENT Depreciation and amortisation charges increased by SEK 172 million to SEK 3,898 (3,726) million in the six months ended 30 June 2026 compared to the same period last year , mainly due to the discontinua- tion of the route Halmstad-Grenå within Ferry Operations, offset by vessels sold. EBITDA The operational EBITDA for the consolidated Stena AB Group increased by SEK 835 million to SEK 5,840 (5,005) million in the six-month period that ended on 30 June 2026 compared to the same period last year. FERRY OPERATIONS Ferry revenues are generated from ticket sales, freight haulage and onboard sales. Direct operating expenses consist principally of personnel costs, costs of goods sold onboard the vessels, bunker fuel costs, vessel charter costs, commissions, package tour costs and other related costs. A significant portion of these costs do not vary on account of changes in our seasonal requirements. Operational EBITDA increased by SEK 65 million to SEK 1,524 (1,459) million in the six months ended 30 June 2026 mainly as a result of improved margins in part of the business, offset by lower volumes due to closure of routes and continued subdued market conditions compared to the same period last year. Freight volumes decreased 1% compared to last year, car volumes decreased 4% compared to last year and passenger volumes decreased by 4% compared to last year. All volumes are excluding Wasaline. OFFSHORE DRILLING Drilling revenues consist of charter hires for drilling rigs. The direct operating expenses for drilling consist primarily of personnel costs, insurance, maintenance and catering costs. Operational EBITDA increased by SEK 109 million to SEK 776 (667) million in the six-month period ended 30 June 2026 mainly due to more days on contract together with reduced operating costs compared to the same period last year. SHIPPING Shipping revenues primarily represent charter hires for our owned and chartered in vessels and management fees for vessels managed by Stena. Direct operating expenses for shipping consist primarily of vessel charter costs, fuel costs, personnel costs, insurance and other related vessel costs. Tankers Operational EBITDA increased by SEK 562 million to SEK 1,217 (655) million in the six-month period ended 30 June 2026, mainly due to higher charter rates, offset by vessels sold. RoRo Operations Operational EBITDA from chartering out Roll-on/Roll-off vessels decreased by SEK 172 million to SEK 574 (746) million in the six-month period ended 30 June 2026 mainly due to a reduced fleet in operation due to vessels sold in the fourth quarter of 2025, offset by the delivery and immediate sale of the newbuilding Capu Rossu in March 2026. PROPERTY Property revenues consist of rents for properties, sale of condominiums, owned and management fees for properties managed by Stena. Property expenses consist primarily of maintenance, heating and personnel costs. Operational EBITDA increased by SEK 252 million to SEK 1,366 (1,114) million for the six months ended 30 June 2026, mainly driven by acquisi- tions, completed projects and higher rental income. The change in fair value of investment properties amounts to SEK 356 (56) million for the six months ended June 2026 linked to the completion of newbuilding projects. Occupancy rates for Swedish properties were approximately 98%. SUMMARY FOR THE SIX-MONTH PERIOD 1 JANUARY—30 JUNE 2026 13 – Condensed Consolidated Interim Report for the six-month period 1 January–30 June 2026
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Stena AB and Consolidated Subsidiaries NEW BUSINESSES The operational EBITDA for New Businesses decreased by SEK 41 million to SEK 518 (559) million in the six-month period ended 30 June 2026. Ballingslöv: Operational EBITDA decreased by SEK 24 million for the six months ended 30 June 2026 to SEK 293 (317) million. EBITDA is impacted by a continued challenging market. Nordic Garden Group (Blomsterlandet): Operational EBITDA decreased by SEK 4 million for the six months ended 30 June 2026 to SEK 224 (228) million mainly due to higher costs compared to last year. Envac: Operational EBITDA decreased by SEK 2 million for the six months ended 30 June 2026 to SEK 42 (44) million. OTHER INCOME Net valuation on investment property As a result of the revaluation to fair value according to IAS 40 “Investment properties”, Stena recognized net gains of SEK 356 (56) million for the six months ended 30 June 2026 linked to the completion of newbuilding projects. Net result on sales of vessels In the six months ended 30 June 2026 the net result on sales of vessels was SEK 890 (478) million, related to the sale of the tanker vessels Stena Sunshine, Stena Impero and Stena Surprise. During the corre- sponding period of 2025, the RoPax vessel Stena Livia was sold. Net result on sale/liquidation of operations In the six months ended 30 June 2026 the net result of sales/liquidations of operations amounted to SEK 28 (–22) million. SUMMARY FOR THE SIX-MONTH PERIOD 1 JANUARY—30 JUNE 2026, CONTINUED FINANCIAL NET Total finance net for the six months ended 30 June 2026 was SEK –1,028 (–1,304) million. The improvement was mainly due to lower interest expenses, higher interest income and positive results from FX trading compared with the same period last year. INCOME TAXES Income taxes for the six months ended 30 June 2026 were SEK –147 (–79) million, consisting of current taxes of SEK –417 (–406) million and deferred taxes of SEK 270 (327) million. 14 – Condensed Consolidated Interim Report for the six-month period 1 January–30 June 2026
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Stena AB and Consolidated Subsidiaries The Group's liquidity requirements principally relate to servicing of debt, financing the purchase of vessels and other assets and funding of working capital. The Group meets the liquidity requirements by cash on hand, cash flows from operations, borrowings under various credit facilities and other financing and refinancing arrangements. As of 30 June 2026, cash and cash equivalents and short-term invest- ments totaled SEK 8,411 million, of which SEK 8,379 million was available as compared to SEK 6,376 million as of 31 December 2025 of which SEK 6,338 was available. Together with non-current investments and available credit facilities, the total payment capacity on 30 June 2026 was SEK 20.4 billion as compared to SEK 19.8 billion as of 31 December 2025. For the six-month period ended 30 June 2026, cash flows provided by operating activities amounted to SEK 4,388 (3,816) million. For the six- month period ended 30 June 2026, cash flows used in investing activities amounted to SEK –3,491 (–6,550) million, including SEK –3,683 (–7,089) million related to capital expenditures. Cash flows from financing activities for the six-month period ended 30 June 2026 amounted to SEK 609 (1,657) million. As of 30 June 2026, the total construction in progress was SEK 2,549 (3,084) million. The remaining capital expenditure commitment for newbuildings on order as of 30 June 2026 was SEK 3,611 million, of which SEK 481 million is due during 2026, SEK 2,007 million is due in 2027 and SEK 1,123 million is due in 2028 and after. Stena intends to finance the remainder of this unpaid balance, together with additional expenses and financing costs, with cash from operations, existing revolving credit facilities, new capital lease agreements, new bank loans and other financing arrangements. As of 30 June 2026, total interest-bearing debt was SEK 80,877 million as compared to SEK 78,768 million as of 31 December 2025. Of the credit facility of EUR 738 million, EUR 71 million were utilised as of 30 June 2026, of which EUR 1 million was related to issued guarantees. As of 31 December 2025, EUR 1 million was utilised of which EUR 1 million was related to issued guarantees. The unsecured credit facility amounting to EUR 240 million was unutilised as of 30 June 2026, same as of 31 December 2025. As of 30 June 2026, the credit facility of USD 300 million, entered into by Stena Investment Luxembourg S.àr.l., was utilised with USD 202 million, compared to USD 185 million as of 31 December 2025. We believe that, based on current levels of operating performance and anticipated market conditions, cash flow from operations, together with other available sources of funds, including refinancing, will be adequate to make required payments of principal and interest on outstanding debt, to make proposed capital expenditures, including new buildings and other vessel acquisitions, and to fund anticipated working capital requirements. LIQUIDITY AND CAPITAL RESOURCES 15 – Condensed Consolidated Interim Report for the six-month period 1 January–30 June 2026
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Stena AB and Consolidated Subsidiaries For the six-month period ended 30 June 2026, Restricted Group Data represents the selected consolidated financial information excluding (i) the property business segment, (ii) the business segment of New Businesses, whose activities consist primarily of investing in companies outside our traditional lines of business, and (iii) our subsidiaries Stena Investment Luxembourg S.àr.l. and Stena Investment Cyprus Ltd. Our real estate operations and the business of New Businesses are con- ducted through various subsidiaries. For purposes of the indentures under which our Senior Notes were issued, Real estate business, New Businesses, together with our subsidiaries Stena Investment Luxembourg S.àr.l. and Stena Investment Cyprus Ltd, are designated as unrestricted subsidiaries and, as a result, are not bound by the restric- tive provisions of the bond indentures. As of 30 June 2026, Stena had outstanding USD 860 million and USD 400 million principal amounts of Senior Secured Notes due 2031. SIGNIFICANT EVENTS OF THE FIRST SIX-MONTH PERIOD OF 2026 SPECIFIC TO THE RESTRICTED GROUP On 1 January 2026, the company NTEX AB was sold internally within the Stena AB Group from Stena Rederi AB to Stena Line Scandinavia AB. At the same time, the company changed its business area from Other Shipping to Ferry Operations. Comparative figures for the previous year have therefore been reclassified from Other Shipping to Ferry Operations where applicable. In January 2026, an agreement was entered into with the shipyard China Merchants Industries regarding a new generation of C-Flexer RoRo vessels. A contract was signed for two vessels, with options for an additional four. The first two C-Flexer RoRo vessels are scheduled for delivery in March and June 2029, respectively. The optional vessels will thereafter be delivered at three-month intervals, should the options be exercised. In January 2026, Stena Line acquired all shares in NLC Ferry Ab Oy/ Wasaline, which operates the route between Vaasa in Finland and Umeå in Sweden. In January 2026, Stena Line acquired the port operating company Terrabalt in Liepãja, Latvia. In connection with the acquisition, the company was renamed Stena Line Ports Liepãjas SEZ SIA. In January 2026, the MR vessel Stena Impero was sold to an external party, Torm. In February 2026, a decision was taken to discontinue the Halmstad– Grenå route at the end of April 2026. In March 2026, the unsecured credit facility of EUR 240 million, signed in May 2024 with a banking consortium, was extended by one year, resulting in a new maturity date in 2029. In March 2026, the Suezmax vessel Stena Sunshine was sold to an external party, Thenamaris. In March 2026, the newbuilding Capu Rossu was delivered and immediately sold to an external party, Corsica Linea. In March 2026, a contract was signed with Chevron for Stena Forth for a one well campaign in Egypt commencing in May 2026. In April 2026, a contract was signed with Energean for Stena DrillMAX for a one well campaign in Greece commencing in Q1 2027. In April 2026, a project to upgrade Stena Forth, one of the Group’s sixth-generation ultra-deepwater drilling vessels, was successfully completed. In April 2026, the Suezmax vessel Stena Surprise was sold to an external party. In May 2026, an agreement was signed to sell the vessel Stena Vinga to an external party, DFDS. The sale is expected to be completed in November 2026. In June 2026, a contract was signed with Chevron for Stena Forth for a one well campaign in Namibia commencing in September 2026. In June 2026, a contract was signed with Exxon Mobil for Stena IceMax for an initial two well firm campaign in Cyprus and one initial well in Egypt commencing in December 2026 with additional two further option wells. OTHER FINANCIAL INFORMATION — RESTRICTED GROUP SUBSEQUENT EVENTS FOR THE RESTRICTED GROUP In August 2026, the vessel Stena Nautica was sold and delivered to an external party, Rederiaktiebolaget Eckerö. In August 2026, a new contract was signed with Esso Exploration and Production Guyana Limited for Stena Carron extending this contract until 30 June 2027 with options for further extensions. 16 – Condensed Consolidated Interim Report for the six-month period 1 January–30 June 2026
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Stena AB and Consolidated Subsidiaries Six-month period ended 30 June (SEK in million) 2026 2025 Revenue Ferry Operations 11,515 10,905 1 Offshore Drilling 2,757 2,876 Shipping 6,480 4,449 1 Other 13 11 Total revenue 20,765 18,241 Net result on sale of vessels 890 478 Net result on sale/liquidation of operations 1 –162 Total other income 891 316 Total income and net result on sale of non-current assets 21,656 18,556 Direct operating expenses Ferry Operations –8,858 –8,339 1 Offshore Drilling –1,689 –1,869 Shipping –4,016 –2,509 1 Other 5 31 Total direct operating expenses –14,558 –12,686 Selling and administrative expenses –2,245 –2,218 Profit/loss from investments in operating associates 73 –12 Depreciation, amortisation and impairment –3,699 –3,527 Total operating expenses –20,429 –18,443 Operating profit/loss 1,227 114 GROUP CONSOLIDATED INCOME STATEMENTS — RESTRICTED GROUP (UNAUDITED) 1) Within Revenue, SEK 1,926 million and within Direct operating expenses, SEK 1,533 million have been transferred for the year 2025 from Shipping to Ferry Operations due to NTEX AB changing business area as of 1 January 2026. Six-month period ended 30 June (SEK in million) 2026 2025 Dividends received 34 36 Gains/loss on securities, net 228 277 Interest income 260 189 Interest expense –1,129 –1,298 Foreign exchange gains/loss, net 23 1 Other financial income/expense, net –137 –183 Financial net –721 –978 Profit/loss before tax 506 –864 Taxes 186 155 Profit/loss for the period 692 –709 Profit/loss for the period attributable to: Shareholders of the Parent company 691 –705 Non-controlling interests 1 –4 Profit/loss for the period 692 –709 17 – Condensed Consolidated Interim Report for the six-month period 1 January–30 June 2026
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Stena AB and Consolidated Subsidiaries CONDENSED CONSOLIDATED BALANCE SHEETS — RESTRICTED GROUP (UNAUDITED) (SEK in million) 30 June 2026 31 December 2025 Assets Non-current assets Intangible assets 3,404 3,112 Property, plant and equipment Vessels 35,439 36,333 Construction in progress 2,483 2,397 Equipment 1,640 1,912 Land and buildings 2,392 2,229 Ports 6,028 6,134 Total property, plant and equipment 47,982 49,006 Financial assets Investments reported according to the equity method 786 683 Marketable securities 219 208 Surplus in funded pension plans 878 880 Intercompany accounts, non-current 1,874 1,683 Other non-current assets 17,048 16,881 Total financial assets 20,805 20,335 Deferred tax assets 2,267 2,003 Total non-current assets 74,458 74,455 Current assets Inventories 754 1,154 Trade receivables 4,765 3,318 Other current receivables 2,305 2,159 Prepayments and accrued income 3,842 3,045 Short-term investments 3,743 3,338 Intercompany accounts, current 1,468 2,135 Cash and cash equivalents 2,726 2,273 Assets held for sale 2,688 361 Total current assets 22,291 17,783 Total assets 96,749 92,238 (SEK in million) 30 June 2026 31 December 2025 Equity and liabilities Equity Share capital 5 5 Reserves 31,293 29,822 Equity attributable to shareholders of the Parent company 31,298 29,827 Non-controlling interests 103 104 Total equity 31,401 29,931 Non-current liabilities Deferred tax liabilities 266 603 Pension liabilities 508 478 Other provisions 40 35 Long-term debt 25,029 27,342 Senior Notes 12,224 11,606 Lease liabilities 3,877 3,429 Intercompany liabilities, non current 1,882 1,014 Other non-current liabilities 3,031 3,277 Total non-current liabilities 46,857 47,784 Current liabilities Short-term debt 3,680 3,012 Lease liabilities 1,634 1,441 Trade payables 1,751 1,576 Tax liabilities 207 158 Other liabilities 2,005 2,152 Intercompany liabilities, current 19 636 Accruals and deferred income 7,098 5,548 Liabilities directly attributable to assets classified as held for sale 2,097 Total current liabilities 18,491 14,523 Total equity and liabilities 96,749 92,238 18 – Condensed Consolidated Interim Report for the six-month period 1 January–30 June 2026
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Stena AB and Consolidated Subsidiaries Six-month period ended 30 June (SEK in million) 2026 2025 Cash flow from operating activities Profit before tax for the period 506 –864 Depreciation, amortisation and impairment 3,699 3,527 Income tax paid –185 –263 Other non-cash and non-operating adjustments –660 –1,130 Cash flow from operating activities before changes in working capital 3,360 1,270 Change in working capital Change in inventory 429 –96 Change in trade receivables and other receivables –1,714 270 Change in trade payables and other payables 1,799 –1,188 Cash flow from operating activities 3,874 256 Cash flow from investing activities Capital expenditure on intangible assets –90 –102 Capital expenditure on property, plant and equipment –2,499 –2,773 Proceeds from sale of property, plant and equipment 1,274 649 Purchase of operations, net of cash –236 –49 Proceeds from sale of operations, net of cash 19 Purchase of securities –43 Proceeds from sale of securities 120 Other investing activities –114 194 Cash flow from investing activities –1,665 –1,985 Cash flow from financing activities Proceeds from issuance of short and long-term debt 111 7,458 Repayment of short and long-term debt –1,917 –6,124 Net change in borrowings on line-of-credit agreements 1,253 840 Repayment of lease liabilities –702 –651 Intercompany accounts –145 –213 Dividend paid –225 –300 Other financing activities –226 –25 Cash flow from financing activities –1,851 985 Effect of exchange rate changes on cash and cash equivalents 95 –303 Net change in cash and cash equivalents 453 –1,047 Cash and cash equivalents at beginning of period 2,273 3,439 Cash and cash equivalents at end of period 2,726 2,392 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW — RESTRICTED GROUP (UNAUDITED) 19 – Condensed Consolidated Interim Report for the six-month period 1 January–30 June 2026