Interim report
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Image: Saab A3-001 concept model Positioned to capture growing demand INTERIM REPORT 2026
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2 IN T ER IM R EPO R T Q 3 2 0 2 6 Q3 2026 Key Highlights Order bookings amounted to SEK 65,825 million (20,861). This included a SEK 24.6 billion order for Gripen E to Ukraine, a SEK 10.1 billion order for GlobalEye to an undisclosed customer and a SEK 8.7 billion order for systems for German frigates. Sales amounted to SEK 20,553 million (15,871), corresponding to an organic sales growth of 30.6 per cent (18.3). EBITDA amounted to SEK 2,833 million (2,173), corresponding to an EBITDA margin of 13.8 per cent (13.7). EBIT increased 42 per cent and amounted to SEK 1,945 million (1,374), corresponding to an EBIT margin of 9.5 per cent (8.7). Net income increased to SEK 1,432 million (975) and earnings per share amounted to SEK 2.57 (1.77). Operational cash flow increased to SEK 6,785 million (142). Net liquidity amounted to SEK 8,679 million compared to SEK 3,989 million at year-end 2025. Changes to Group Management were announced, see page 14 for more information. 65.8 Order bookings, SEK billion 30.6% Organic sales growth 9.5% Operating margin Financial highlights MSEK Jan-Sep 2026 Jan-Sep 2025 Change, % Q3 2026 Q3 2025 Change, % Full Year 2025 Order bookings 152,461 68,408 123 65,825 20,861 216 168,519Order backlog 364,223 202,408 80 274,532Sales 65,170 51,449 27 20,553 15,871 30 79,146Gross income 15,036 11,617 29 4,813 3,642 32 17,168Gross margin, % 23.1 22.6 23.4 22.9 21.7EBITDA9,338 7,144 31 2,833 2,173 30 11,347EBITDA margin, % 14.3 13.9 13.8 13.7 14.3Operating income (EBIT) 6,659 4,805 39 1,945 1,374 42 8,066Operating margin, % 10.2 9.3 9.5 8.7 10.2Adjusted operating income ¹⁾ 6,659 4,805 39 1,945 1,374 42 7,730Adjusted operating margin, % ¹⁾ 10.2 9.3 9.5 8.7 9.8Net income 5,068 3,788 34 1,432 975 47 6,356of which Parent Company’s shareholders’ interest 4,968 3,754 32 1,389 957 45 6,314Earnings per share after dilution, SEK 9.18 6.95 32 2.57 1.77 45 11.70Return on equity, % 16.3 13.6 16.0Operational cash flow 7,740 -1,008 6,785 142 5,273Free cash flow 5,053 -2,245 5,647 -476 4,206Free cash flow per share after dilution, SEK 9.34 -4.16 10.43 -0.88 7.79Full Time Equivalents, FTEs 30,649 27,270 27,865Average number of shares after dilution 541,037,043 539,947,221 541,466,492 540,743,011 539,791,904¹⁾ Items affecting comparability, see note 5
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3 IN T ER IM R EPO R T Q 3 2 0 2 6 The security environment is evolving rapidly. Recent airspace violations, drone incidents and hybrid threats, together with ongoing conflicts, reinforce the need for both immediate readiness and long-term defence capabilities. With our broad portfolio, expanding production capacity and continued investments in future capabilities, we are well positioned to meet growing customer demand. Strong business momentum We delivered a quarter characterised by high business activity. Our order bookings amounted to SEK 65.8 billion (20.9), corresponding to a book-to-bill ratio of 3.2x and our order backlog now stands at SEK 364 billion. We booked the contract for 16 Gripen E fighter aircraft for Ukraine, representing an important first step in supporting the long-term expansion of the country’s air force capabilities. Demand for our Airborne Early Warning and Control (AEW&C) system, GlobalEye, continues to accelerate. During the quarter, we received an order for two aircraft from an undisclosed customer, and, following Canada’s selection of GlobalEye earlier this year, we have signed a term sheet covering the contract framework for six aircraft. Together with NATO’s selection and the Netherlands’ announced intention to acquire the platform, this momentum further strengthens GlobalEye’s position as the leading airborne surveillance system, providing advanced situational awareness across the air, land and naval domains. Operational execution driving growth Sales grew by 30.6 per cent organically and operating income grew by 42 per cent during the quarter, driven by higher delivery volumes and strong execution across our programmes and operations. At the same time, we generated a strong operational cash flow of SEK 6.8 billion. Aeronautics delivered sales growth of 9 per cent, driven by good programme execution. Profitability increased due to an improved business mix, although the margin remained impacted by the T-7 programme. During the quarter, we showcased the A3 concept, a future uncrewed aircraft system. We also received an order from the Swedish Defence Materiel Administration (FMV) for continued work on future fighter system concepts. Maiden flights were completed with a Gripen F (two-seater) as well as the first Gripen E produced in Brazil. In addition, the Swedish Air Force conducted the first live launch of a Taurus missile from a Gripen fighter, marking an important step in strengthening Sweden’s long-range air strike capability. In Dynamics, order bookings were strong. Finland placed an order for the RBS 70 NG air defence solution, and we received a large order for IRIS-T, demonstrating customer confidence in our missile portfolio. We also received several orders from the US for Ground Combat systems. Sales grew by 10 per cent. However, EBIT declined compared with the strong third quarter of last year, reflecting our increased R&D investments and mix in deliveries. In Surveillance, sales growth was exceptionally strong and amounted to 65 per cent, supported by high delivery volumes of Giraffe 1X radars and strong project execution. We continue to expand production capacity across our portfolio to meet growing demand. A recent milestone was the presentation of the first GlobalEye aircraft for Sweden. In Naval, sales grew by 41 per cent, driven by good progress across the portfolio, including the initiation of the submarine programme for Poland. During the quarter, we received an order to equip four new German frigates with combat systems, sensors and composite structures, further strengthening our position in the European naval market. In addition, together with FMV and the Swedish Armed Forces, we successfully launched a Large Uncrewed Underwater Vehicle (LUUV) demonstrator. Progress in sustainability Our ambition is to be a sustainability leader within the defence sector. During the quarter, Saab published its Climate Transition Plan, outlining the pathway towards science-based climate targets and net-zero emissions. Saab was also recognised by TIME Magazine and Statista as the world's most sustainable Aerospace and Defence company in 2026. Investing in future capabilities Innovation remains at the centre of Saab’s strategy and to ensure that our customers maintain a technological edge in an evolving threat environment. Our internally funded R&D expenses for the first nine-months increased by 47 per cent or SEK 1.2 billion and amounted to SEK 3.7 billion. The long-term market outlook remains favourable. With a strong portfolio, a record high order backlog, expanding production capacity and continued investment in future capabilities, we are well positioned to achieve our financial targets, create long-term value for customers, shareholders and society, and deliver on our mission to keep people and society safe. CEO comments Positioned to capture growing demand Micael Johansson President and CEO Medium-term targets 2023-2027 Sales growth: Organic sales growth of around 22% (compound annual growth rate, CAGR). Operating income: Operating income growth higher than organic sales growth. Operational cash flow: Cash conversion of >60% (cumulative for the 5-year period).
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4 IN T ER IM R EPO R T Q 3 2 0 2 6 Orders Third quarter 2026 Order bookings in the third quarter amounted to SEK 65,825 million (20,861) and corresponded to a book-to-bill ratio of 3.2x. The growth was driven by large orders, which increased by 526 per cent and amounted to SEK 52,120 million (8,321). Small orders increased 84 per cent to SEK 5,756 million (3,120), while medium-sized orders decreased 16 per cent to SEK 7,949 million (9,420) compared to the same quarter last year. Key orders during the third quarter included a SEK 24.6 billion contract of 16 Gripen E fighter aircraft for Ukraine, a SEK 10.1 billion contract of two GlobalEye aircraft to an undisclosed customer, and an order of SEK 8.7 billion to equip the German Navy’s new MEKO A-200 DEU class frigates. January-September 2026 Order bookings for the first nine months amounted to SEK 152,461 million (68,408). Large orders increased by 338 per cent and amounted to SEK 105,288 million (24,021), medium-sized orders increased by 9 per cent and amounted to SEK 30,280 million (27,671), and small orders increased by 1 per cent and amounted to SEK 16,893 million (16,716). The order backlog amounted to SEK 364,223 million, compared to SEK 274,532 million at the beginning of the year. In total, 79 per cent (73) of the backlog is attributable to international markets. Sales Third quarter 2026 Sales in the third quarter amounted to SEK 20,553 million (15,871), corresponding to a sales growth of 29.5 per cent, driven by good project execution and increased deliveries, with particularly strong contributions from Surveillance and Naval. The organic sales growth was 30.6 per cent. Currency translation effects had an unfavourable impact on sales growth of -0.8 percentage points in the quarter. January-September 2026 Sales for the first nine months amounted to SEK 65,170 million (51,449), corresponding to a sales growth of 26.7 per cent, of which organic sales growth was 27.5 per cent. All business areas reported double-digit sales growth, with particularly strong contribution from Surveillance. Sales related to markets outside Sweden accounted for 60 per cent (57) of total sales. Sales growth Sales per region Per centJan-Sep 2026 Jan-Sep 2025 Q3 2026 Q3 2025 Full Year 2025 Organic sales growth 27.5 21.0 30.6 18.3 25.6Change from acquisitions and divestments -0.2 0.1 -0.3 0.0 0.0Currency translation effects -0.6 -1.2 -0.8 -1.1 -1.5 Total sales growth 26.7 19.9 29.5 17.2 24.1MSEK Jan-Sep 2026 Jan-Sep 2025 Change, %Sweden 25,959 22,182 17Rest of Europe 18,873 12,359 53North America 4,662 4,485 4Latin America 3,767 2,545 48Asia 5,471 4,030 36Africa 296 310 -5Australia, etc. 2,033 2,308 -12Undisclosed countries 4,109 3,230 27Total 65,170 51,449 27 Order distribution Jan-Sep 2026 Order by market Jan-Sep 2026 Order backlog, BSEK Sales Jan-Sep, MSEK Sales by market Jan-Sep 2026 Small orders 11% (25)Medium-sized orders 20% (40)Large orders 69% (35)Classification of orders MSEKSmall orders<100Medium-sized orders100-1000Large orders >1000International order bookings 85%Order bookings from Sweden 15%139190202364Sep 2023 Sep 2024 Sep 2025 Sep 2026Order backlog duration BSEK202627.92027102.1202889.2202962.0After 202983.035,48742,90151,44965,170Jan-Sep2023Jan-Sep2024Jan-Sep2025Jan-Sep2026Sales international markets 60%Sales to Sweden 40%
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5 IN T ER IM R EPO R T Q 3 2 0 2 6 Income Third quarter 2026 Gross income increased to SEK 4,813 million (3,642). The gross margin increased to 23.4 per cent compared to 22.9 per cent in the same quarter last year. The increase in gross margin was mainly related to change in business mix with larger share of sales related to Surveillance. EBITDA increased 30 per cent to SEK 2,833 million (2,173) and the EBITDA-margin was 13.8 per cent (13.7). Operating income increased 42 per cent and amounted to SEK 1,945 million (1,374) with an operating margin of 9.5 per cent (8.7). The growth in operating income was related to Surveillance and Aeronautics. January-September 2026 Gross income amounted to SEK 15,036 million (11,617) driven by good progress in projects and increased delivery volumes. The gross margin increased to 23.1 per cent (22.6) reflecting a change in business mix with larger share of sales related to Surveillance. Total operating expenses increased to SEK 8,377 million (6,812). Marketing expenses were in line with last year and amounted to SEK 2,343 million (2,389) while administrative expenses increased to SEK 2,288 million (2,081). Marketing and administrative expenses represented 7.1 per cent (8.7) of sales. R&D expenses increased to SEK 3,723 million (2,526) reflecting higher expenses across all business areas. Share of income in associated companies and joint ventures amounted to SEK 35 million (133). The comparison period included a non-recurring contribution of SEK 105 million from the minority portfolio. Total depreciation, amortisation and write-downs amounted to SEK 2,679 million (2,339). Depreciation of tangible fixed assets and right-of-use assets amounted to SEK 1,945 million (1,502). Amortisation and write-downs of intangible fixed assets amounted to SEK 734 million (837), of which amortisation and write-downs of capitalised development expenditures amounted to SEK 412 million (592). EBITDA increased 31 per cent and amounted to SEK 9,338 million (7,144), with an EBITDA margin of 14.3 per cent (13.9). Operating income increased 39 per cent and amounted to SEK 6,659 million (4,805) with an operating margin of 10.2 per cent (9.3). The growth in operating income and margin was driven by Surveillance and Dynamics. Financial net The financial net amounted to SEK -193 million (40) in the first nine months 2026. The change compared to last year was mainly due to the result from currency hedges in the tender portfolio. In the comparative period, these results were recognised in financial net, while from the first quarter 2026, hedge accounting is applied for the currency derivatives in this portfolio. Therefore, gains/losses from these derivatives are recognised in other comprehensive income instead. This means that there is no impact on financial net from currency hedges in the tender portfolio from 2026. The change in financial net related to pensions compared to last year is a result of lower net pension obligations. See note 13 for more information regarding defined-benefit pension plans. The change in net interest items compared to last year was due to higher net interest-bearing assets. The change in lease liability interest compared to last year was due to higher lease liabilities in 2026, mainly related to new leases for premises that commenced in the second half-year of 2025. Other financial items for the first nine months were in line with last year, reflecting negative currency effects and revaluation of short-term interest-bearing investments while the comparison period included an unfavourable effect of revaluation of shares in a financial investment. Tax Current and deferred taxes amounted to SEK -1,398 million (-1,057), corresponding to an effective tax rate of 21.6 (21.8) per cent. The slight decrease of the effective tax rate was mainly a result of lower share of taxable income from foreign operations. MSEK Jan-Sep 2026 Jan-Sep 2025Financial net related to pensions -6 -29Net interest items 112 54Currency gains/losses - 221Lease liability interest -218 -122Other financial items -81 -84Total -193 40 Operating income (MSEK) and margin (%), Jan-Sep EPS after dilution, SEK Research and development expenses, MSEK 2,852 3,709 4,805 6,659 8.08.69.310.2Jan-Sep2023Jan-Sep2024Jan-Sep2025Jan-Sep20264.015.086.959.18Jan-Sep2023Jan-Sep2024Jan-Sep2025Jan-Sep20261,4931,9912,5263,723Jan-Sep2023Jan-Sep2024Jan-Sep2025Jan-Sep2026
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6 IN T ER IM R EPO R T Q 3 2 0 2 6 Financial position and liquidity At the end of September 2026, Saab had a net liquidity of SEK 8,679 million, compared to SEK 3,989 million at year-end 2025. Net debt/EBITDA was -0.6 (0.1) at the end of the period. Intangible fixed assets amounted to 12,656 SEK million compared to 12,585 at year-end 2025. Tangible fixed assets amounted to SEK 21,830 million compared to 16,882 at year-end 2025. Net investments, which includes the cash flow effect from sale of tangible and intangible assets, amounted to SEK 6,536 million (4,920). Investments in tangible fixed assets amounted to SEK 5,897 million (4,021). Investments in intangible fixed assets amounted to SEK 664 million (930), of which SEK 482 million (526) was related to capitalised development costs. The investments in capitalised development costs were mainly related to the development of Gripen E/F. Right-of-use assets recognised in the balance sheet amounted to SEK 5,068 million compared to 4,764 million at the end of 2025. Inventories increased by SEK 3,179 million during the period with increases mainly in Dynamics and Surveillance. Contract assets increased by SEK 4,758 million. Contract liabilities increased by SEK 12,753 million mainly driven by customer payments, compared to year-end 2025. Net provisions for pensions, excluding special employer’s contribution, amounted to a net pension asset of SEK 304 million as of 30 September 2026, compared to a net pension liability of SEK 267 million at year-end 2025. The effect on net debt of SEK 571 million was mainly a result of positive return on pension plan assets and increases in the discount rate and inflation assumptions. For further information on Saab’s defined-benefit pension plan, see note 13. Interest-bearing liabilities, including lease liabilities, amounted to SEK 18,054 million compared to 14,709 at year-end 2025. During the third quarter 2026, Saab established its Euro Medium Term Note (EMTN) programme with a framework of EUR 2,000 million. The first EUR 300 million EMTN bond was issued during the third quarter. During the first nine months 2026, loans amounting to SEK 1,250 million were repaid. In addition, a loan of SEK 600 million was paid out. Furthermore, the Group has an unutilised revolving credit facility amounting to SEK 6,000 million. As of 30 September 2026, long- and short-term interest-bearing investments and liquid assets amounted to SEK 26,122 million, an increase of SEK 7,443 million compared to year-end 2025. Financial investments increased with SEK 6,223 million in the first nine months and amounted to SEK 9,213 million compared to SEK 2,990 million at year-end 2025. The increase was mainly related to the revaluation of shares in Helsing GmbH and was recognised in other comprehensive income. The revaluation of Helsing reflected an increase in the company’s valuation in conjunction with financing. Capital employed increased by SEK 11,805 million from year-end 2025, to SEK 70,533 million at the end of the quarter. The return on capital employed was 16.7 per cent (14.6) and the return on equity was 16.3 per cent (13.6), both measured over a rolling 12-month period. Key indicators of financial position and liquidity Change in net debt Jan-Sep 2026 MSEK Net liquidity (+) / net debt (-), 31 December 20253,989Operational cash flow7,740Taxes and other financial items-2,105Change in lease liability-407Change in net pension obligation571Sale of and investments in financial assets, associates and joint ventures-591Dividend -647Dividend to and transactions with non-controlling interest-29Other items, currency impact and unrealised results from financial investments158Net liquidity (+) / net debt (-), 30 September 2026 ¹⁾ 8,679¹⁾ Net liquidity (+) / net debt (-) excluding net provisions for pensions, lease liabilities and interest-bearing receivables, 30 September 202613,399MSEK 30 Sep 2026 31 Dec 2025 Change 30 Sep 2025Net liquidity (+) / debt (-) ²⁾ 8,679 3,989 4,690 -667Intangible fixed assets 12,656 12,585 71 12,695 Goodwill 5,405 5,289 116 5,268 Capitalised development costs 6,061 5,972 89 5,906 Other intangible fixed assets 1,190 1,324 -134 1,521Tangible fixed assets, etc ³⁾ 22,237 17,288 4,949 15,687Right of use assets ⁴⁾ 5,068 4,764 304 3,724Inventories 28,618 25,439 3,179 25,869Accounts receivable 13,481 13,713 -232 7,802Contract assets 23,233 18,475 4,758 17,889Contract liabilities 46,611 33,858 12,753 27,630Equity/assets ratio, % 34.6 35.0 37.8Return on equity, % 16.3 16.0 13.6Return on capital employed, % 16.7 16.6 14.6Equity per share, SEK ¹⁾ 96.46 80.58 15.88 76.121) Number of shares excluding treasury shares539,048,711 537,769,114 537,166,2913) Including tangible fixed assets and biological assets.4) Relate to right-of-use assets for leases.2) The Group's net liquidity/debt refers to liquid assets, short-term investments and interest-bearing receivables less interest-bearing liabilities and provisions for pensions excluding provisions for special employers' contribution attributable to pensions. For a detailed break-down of interest-bearing receivables and interest-bearing liabilities, see note 8.
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7 IN T ER IM R EPO R T Q 3 2 0 2 6 Cash flow Third quarter 2026 Operational cash flow in the third quarter amounted to SEK 6,785 million (142). The increase was mainly attributable to customer payments, which had a positive impact on working capital. January-September 2026 Operational cash flow for the first nine months 2026 amounted to SEK 7,740 million (-1,008). The improvement compared to the same period last year was primarily reflecting higher customer payments but also lower inventory build-up. The improvement was partly offset by higher investments. Cash flow from operating activities, excluding taxes and other financial items increased to SEK 14,276 million (3,912), while cash flow from investing activities amounted to SEK -6,536 million (-4,920). Free cash flow during the period amounted to SEK 5,053 million (-2,245) and was impacted by a supplementary payment in the first quarter related to income taxes for 2025. Saab is operating in a business environment with significant needs for added capabilities driven by growing customer demand. As a result, Saab is increasing investments to expand its capacity and expand production volumes, which entails higher working capital. Saab is proactively engaging with its supply chain to manage capacity increases and inventory levels. Whilst this is putting some pressure on operational cash flow, it enables Saab to address future opportunities and grow long- term. Due to the nature of Saab’s customer contracts, deliveries and timing of customer milestone payments in large projects, large fluctuations in cash flow between quarters can occur. For more detailed information on cash flow, see note 11. MSEKJan-Sep2026 Jan-Sep2025 Cash flow from operating activities before changes in working capital, excluding taxes and other financial items ¹⁾8,588 7,278 Change in working capital 5,688 -3,366 Cash flow from operating activities excluding taxes and other financial items14,276 3,912 Cash flow from investing activities ²⁾ -6,536 -4,920 Operational cash flow 7,740 -1,008 Taxes and other financial items -2,105 -812 Investments in and sale of financial assets and operations -582 -425 Free cash flow 5,053 -2,245 2) Cash flow from investing activities excluding change in short-term investments and other interest-bearing financial assets and excluding sale of and investment in financial assets, operations and subsidiaries. If investments in and sale of financial fixed assets are considered to be of operating nature, the item is included in investing activities.1) Including amortisation of lease liabilities Cash flow from operating activities excluding taxes and other financial items, MSEK Operational cash flow, MSEK Free cash flow, MSEK 1,7652,1343,91214,276Jan-Sep2023Jan-Sep2024Jan-Sep2025Jan-Sep2026-534-1,061-1,0087,740Jan-Sep2023Jan-Sep2024Jan-Sep2025Jan-Sep2026 -993 -2,274 -2,245 5,053 Jan-Sep 2023 Jan-Sep 2024 Jan-Sep 2025 Jan-Sep 2026
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8 IN T ER IM R EPO R T Q 3 2 0 2 6 Business Area Aeronautics Business Units Advanced Programs, Aerospace Systems, Aviation Services, Gripen. Market highlights Market interest in the Gripen fighter programme was strong with several campaigns ongoing. An order of SEK 24.6 billion for 16 Gripen E aircraft for Ukraine was booked. Key recent milestones included the maiden flights of a Gripen E produced in Brazil and a Gripen F (two-seater) fighter. Sales and operating income Sales growth was driven by good project execution across the business. EBIT grew strongly reflecting improved business mix and sales growth, partly offset by costs related to the T-7A programme. Cash flow Cash flow improved year on year driven by higher customer payments. Business Area Dynamics Business Units Barracuda, Ground Combat, Missile Systems, Tactical Support Solutions, Training and Simulation. Market highlights Market demand for Dynamics’ product portfolio remained strong, including an order for IRIS-T and an order from Finland for the RBS 70 NG air defence solution. In addition, Ground Combat received orders from the US. Sales and operating income Sales grew in the third quarter, driven by a high level of deliveries. However, EBIT declined compared with the strong third quarter last year, reflecting higher R&D expenses and mix in product deliveries. Cash flow Cash flow declined compared with last year, driven by lower customer payments. Market Sales in markets outside Sweden amounted to 37% (32) during Jan-Sep 2026. Market Sales in markets outside Sweden amounted to 81% (83) during Jan-Sep 2026. MSEK Jan-Sep 2026 Jan-Sep 2025 Change, % Q3 2026 Q3 2025 Change, % Full Year 2025Order bookings 34,559 16,617 108 28,831 7,411 289 61,464Order backlog 102,539 44,690 129 83,783Sales 15,856 13,387 18 4,844 4,438 9 19,133EBITDA 1,456 1,164 25 487 352 38 1,666EBITDA margin, % 9.2 8.7 10.1 7.9 8.7Operating income (EBIT) 996 828 20 331 212 56 1,177Operating margin, % 6.3 6.2 6.8 4.8 6.2Operational cash flow -1,663 -3,568 253 -79 -1,937Sales international marketsSales to Sweden 024681001,0002,0003,0004,0005,0006,000Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q32024 2025 2026Sales, MSEKOperating margin, %Operating margin, R12, %MSEK Jan-Sep 2026 Jan-Sep 2025 Change, % Q3 2026 Q3 2025 Change, % Full Year 2025Order bookings 17,778 21,562 -18 7,642 6,451 18 32,394Order backlog 93,130 87,709 6 90,095Sales 15,161 12,268 24 3,768 3,411 10 20,665EBITDA 2,862 2,431 18 596 700 -15 3,910EBITDA margin, % 18.9 19.8 15.8 20.5 18.9Operating income (EBIT) 2,696 2,313 17 537 658 -18 3,735Operating margin, % 17.8 18.9 14.3 19.3 18.1Operational cash flow 3,318 5,885 -286 295 7,643Sales international marketsSales to Sweden 05101520253002,0004,0006,0008,00010,000Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q32024 2025 2026Sales, MSEKOperating margin, %Operating margin, R12, %
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9 IN T ER IM R EPO R T Q 3 2 0 2 6 Business Area Surveillance Business Units Airborne Early Warning, Digital Battlespace Solutions, Fighter Core Capabilities, Safety and Security Solutions, Surface Sensor Solutions. Market highlights Market demand remained strong across the product portfolio. During the quarter, an order for two GlobalEye aircraft to an undisclosed customer was booked. GlobalEye continues to have a leading market position, underpinned by the selection by Canada and NATO, as well as the Netherlands’ announced intention to acquire the system. Sales and operating income Sales growth was strong driven by good project execution and increased deliveries, including a high volume of Giraffe 1X radars. EBIT increased reflecting the sales growth and operating leverage. Cash flow Cash flow was strong in the quarter, mainly driven by customer payments, partly offset by higher investments. Business Area Naval Business Units Docksta, Naval Combat Systems, Submarines, Surface Ships, Underwater Systems. Market highlights Market demand for naval solutions remained strong. During the quarter, a major order was received to equip four new German frigates with combat systems, sensors and composite structures. Sales and operating income Sales grew strongly during the quarter, including the initiation of the submarine programme for Poland. EBIT increased compared with the previous year, although the margin was impacted by costs related to capacity expansion and higher R&D. Cash flow Cash flow was strong during the quarter, driven by customer advances for the submarine programme for Poland. Market Sales in markets outside Sweden amounted to 64% (61) during Jan-Sep 2026. *Operating margin and Operating margin R12, % are adjusted for items affecting comparability and excludes for Q4 2024 a gain from remeasurement of a contingent consideration payable of SEK 112 million and write-down of an intangible asset related to acquired customer relations of SEK 72 million. For Q4 2025, items affecting comparability comprise a capital gain from the divestment of Saab Transpondertech AB of SEK 336 million. Market Sales in markets outside Sweden amounted to 63% (60) during Jan-Sep 2026. MSEK Jan-Sep 2026 Jan-Sep 2025 Change, % Q3 2026 Q3 2025 Change, % Full Year 2025Order bookings 34,388 15,287 125 19,688 4,004 392 46,802Order backlog 78,327 38,697 102 62,039Sales 19,235 13,088 47 6,842 4,146 65 21,256EBITDA 2,740 1,995 37 1,104 661 67 3,773EBITDA margin, % 14.2 15.2 16.1 15.9 17.8Operating income (EBIT) 2,304 1,361 69 939 446 111 2,991Operating margin, % 12.0 10.4 13.7 10.8 14.1Adjusted operating income 2,304 1,361 69 939 446 111 2,655Adjusted operating margin, % 12.0 10.4 13.7 10.8 12.5Operational cash flow 2,904 -2,258 1,811 -331 686Sales international marketsSales to Sweden 036912151802,0004,0006,0008,00010,000Q4* Q1* Q2* Q3* Q4* Q1* Q2* Q3*2024 2025 2026Sales, MSEKOperating margin, %Operating margin, R12, %MSEK Jan-Sep 2026 Jan-Sep 2025 Change, % Q3 2026 Q3 2025 Change, % Full Year 2025Order bookings 64,270 12,566 411 8,858 3,024 193 24,833Order backlog 90,655 31,464 188 38,741Sales 13,162 10,530 25 4,511 3,203 41 15,513EBITDA 902 809 11 313 270 16 953EBITDA margin, % 6.9 7.7 6.9 8.4 6.1Operating income (EBIT) 794 721 10 275 240 15 829Operating margin, % 6.0 6.8 6.1 7.5 5.3Operational cash flow 5,123 166 5,981 232 186Sales international marketsSales to Sweden -8-40481201,0002,0003,0004,0005,0006,000Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q32024 2025 2026Sales, MSEKOperating margin, %Operating margin, R12, %
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1 0 IN T ER IM R EPO R T Q 3 2 0 2 6 Other operating segment Combitech Market highlights Order bookings were strong, primarily driven by contract extensions and additional orders from the defence and telecommunications segments. Orders included a renewed FMV contract for the Swedish Armed Forces’ weather service system and an assignment as system integrator for a military radio system. In addition, an order for the development of secure and sovereign AI capabilities within the Saab Group through the Sferical AI consortium was received. Sales and operating income Sales growth reflected higher consultancy revenues. The EBIT margin increased, driven by a favourable business mix. Cash flow Cash flow improved due to higher customer payments. Other operating segment Corporate Corporate comprises group functions and other operations including Skeldar and Saab’s minority portfolio. Order bookings and sales Order bookings in the third quarter amounted to SEK 606 million (90) driven by growth in orders within Skeldar. Order bookings in the first nine months amounted to SEK 976 million (2,119). Sales in the third quarter amounted to SEK 352 million (251), while sales in the first nine months amounted to SEK 982 million (724). The increase in the third quarter and the nine-month period was attributable to growth in Skeldar. Operating income and cash flow Operating income in the third quarter amounted to SEK -254 million (-267). For the first nine months, operating income amounted to SEK -530 million (-734). The improvement was primarily attributable to higher result from Skeldar. The comparison period included a non-recurring contribution of SEK 105 million from the minority portfolio. Operational cash flow in the third quarter amounted to SEK -1,116 million (115), reflecting unfavourable working capital developments and increased investments compared to the previous year. Operational cash flow in the first nine months was SEK -2,199 million (-1,285) due to a higher level of investments in facilities and IT compared to the same period last year. Acquisitions and divestments 2026 No acquisitions took place in the first nine months 2026. During the second quarter, a future divestment of the Public Safety Solutions operations within business area Surveillance was announced. The divestment is expected to be completed during the fourth quarter 2026. The operations are presented separately in the statement of financial position as assets held for sale and liabilities related to assets held for sale. Market Sales in markets outside Sweden amounted to 3% (4) during Jan-Sep 2026. MSEK Jan-Sep 2026 Jan-Sep 2025 Change, % Q3 2026 Q3 2025 Change, % Full Year 2025Order bookings 4,172 3,350 25 1,291 690 87 4,891Order backlog 2,247 1,732 30 1,845Sales 3,769 3,547 6 1,071 1,025 4 4,977EBITDA 413 328 26 122 90 36 495EBITDA margin, % 11.0 9.2 11.4 8.8 9.9Operating income (EBIT) 399 316 26 117 85 38 478Operating margin, % 10.6 8.9 10.9 8.3 9.6Operational cash flow 257 52 142 -90 388Sales international marketsSales to Sweden 02468101202505007501,0001,2501,500Q4* Q1* Q2* Q3 Q4 Q1 Q2 Q32024 2025 2026Sales, MSEKOperating margin, %Operating margin, R12, % *Operating margin and Operating margin R12, % adjusted for items affecting comparability and excludes the capital gain of SEK 18 million from the divestment of Combitech Norway in Q3 2024.
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1 1 IN T ER IM R EPO R T Q 3 2 0 2 6 Share repurchase Saab held 3,177,742 treasury shares as of 30 September 2026, compared to 4,440,000 at year- end 2025. The Annual General Meeting 2026 decided to authorise the Board of Directors to repurchase a maximum of 1,466,000 shares of series B to secure delivery of shares to participants in Saab’s incentive program. In addition, the Annual General Meeting decided that Saab may enter into an equity swap agreement with a third party, in order to hedge the expected financial exposure of Saab’s incentive program LTI 2027. The Annual General Meeting also decided to authorise the Board to repurchase shares of series B up to a maximum of 10 per cent of the total number of shares in the company. The purpose of the authorisation is to be able to adjust the company’s capital structure and thereby contribute to an increased shareholder value as well as to enable a continuous use of acquired shares in connection with potential acquisitions of companies, and where applicable, for the company’s share-related incentive programs. The Board of Directors has not exercised the authorisations during 2026. Risks and uncertainties Saab’s operations primarily involve the development, production and supply of technologically advanced hardware and software to military and civilian customers around the world. This is to a large extent structured through major projects with long time horizons spanning over multiple years. The projects entail significant investments and large share of technological development or refinement of products conducted in close cooperation with customers, suppliers, partners and research institutions. Saab has an international footprint that involves own business operations abroad, joint ventures and collaborations with other parties and industries. Saab’s operations entail risk in various respects. The key risk areas are strategic, market and political, operating, financial and compliance related. Various internal policies and instructions govern the management of the company’s material risks. Saab is growing rapidly both in Sweden and other countries, including investments in scaling capacity such as production ramp-ups, establishing new factories and a high rate of recruitment. This growth entails a higher level of business risk and implies greater uncertainty in sales, income and cash flow. Furthermore, the defence market is characterised by conditions where orders can be deferred to the future based on financing and political factors. The uncertainty in the global supply chain, including cost increases, availability, trade barriers, tariffs and freights, entails a risk for Saab and its operations. The challenges primarily relate to the availability of certain raw materials, including rare earth elements (REEs), defence-specific supply, longer lead times and price inflation, suppliers’ ability to ramp-up production capacity and ability to handle the flow-down of increasing regulatory requirements, as well as logistic and fuel cost increase. For certain subsystems, Saab is dependent on deliveries from a single or very few suppliers. Saab works actively to ensure a robust supply chain by supplier commitments to Saab’s growth plan and to manage the supply chain risks through mitigating actions such as contract management, increased transport and route focus, second sourcing, in- and outsourcing, redesign, re-planning, stockpiling and intensified forecasting dialogues and negotiations with suppliers as well as engaging in NATO, ASD and national de-risking initiatives. In October 2024, Saab North America, Inc. received a subpoena from the U.S. Department of Justice (DoJ) requesting information about the Brazilian Government’s acquisition of 36 Gripen E/F fighter aircraft in 2014. Saab is complying with the request to supply information and cooperating with the DoJ in this matter. Both Brazilian and Swedish authorities have previously investigated parts of the Brazilian fighter procurement process. These previous investigations were closed without indicating any wrongdoings by Saab. For a general description of the risk areas, see the Annual Report 2025, pages 44-49. Owners Largest owners, 30 September 2026: Source: Modular Finance The percentage of votes is calculated on the number of shares excluding treasury shares. % of % ofcapital votesInvestor 30.2 39.9Wallenberg Investments8.7 7.6BlackRock3.7 3.2Vanguard2.6 2.2Swedbank Robur Fonder2.4 2.1Capital Group1.6 1.4Alecta Tjänstepension1.3 1.1Norges Bank Investment Management1.3 1.1VanEck1.2 1.0WisdomTree Asset Management1.1 1.0
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1 2 IN T ER IM R EPO R T Q 3 2 0 2 6 Risks related to armed conflicts The geopolitical tensions in the world, including the armed conflicts in Ukraine and the Middle East as well as disinformation, have resulted in a more complex and diverse security environment for Saab. Therefore, Saab has increased security measures to protect its sites, personnel and IT, as well as measures against cyber risks, which may lead to increased costs for IT and security. Saab has no defence-related sales exposure to Belarus, Russia and Iran, but is closely monitoring the impact on the business from the war in Ukraine and conflicts in the Middle East. Saab is operating in a highly regulated market and it is essential for Saab as a responsible defence company to comply with all applicable regulations and commitments regarding export control and sanctions, i.e. sanctions from EU, UN, OSCE or other applicable country-specific sanctions. Saab’s crisis management organisation has an ongoing focus on security, embargo and sanction practices. Furthermore, Saab has currently no direct defence-related sales exposure to Israel. However, the company could be affected by supply chain risks related to conflicts in the Middle East, as it has a limited number of suppliers in Israel. Saab is continuously monitoring the risk situation, has mitigating actions in place and is in close dialogue with its suppliers.
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1 3 IN T ER IM R EPO R T Q 3 2 0 2 6 Sustainability Occupational Health and Safety Total Recordable Injury Frequency Rate (TRIFR)1 2026 Target: Reduce work-related accidents, by decreased TRIFR1 compared to base year 2025. Climate GHG emissions2 2030 Goal: 42% reduction of Scope 1 & 2 CO2-eq3 from base year 2020 Diversity and Inclusion Share of women employees 2026 Target: 27% women employees and 30% women managers. Resilient and safe societies Saab has the ambition to be the industry-leader within sustainability. This ambition sets the expectation for Saab’s sustainability strategy and encourages the organisation to embed sustainability across its operations, from strategic investments and product design to everyday decisions made by employees. As Saab continues to grow, achieving this ambition will require focus, strong execution and translation of the strategy into action throughout the organisation. One indicator of the progress of Saab's long- term sustainability agenda is its strong performance in external ratings. Saab was recognised by TIME Magazine and Statista as the world's most sustainable Aerospace and Defence company 2026 and ranked 42nd overall among 5,000 evaluated companies. The recognition reflects Saab’s ongoing efforts to integrate sustainability into its operations, business practices and innovation. Responsible sourcing During the quarter, Saab launched a responsible sourcing training programme as part of its ambition to provide profession- specific sustainability training across the organisation. The programme provides procurement specialists with an increased knowledge of Saab’s sustainability strategy and a practical understanding of how responsible sourcing is embedded throughout the procurement process. Environmental and social transition Climate During the first nine months of 2026, Saab’s scope 1 & 2 CO2-eq emissions increased by 4 per cent compared with the same period in 2025. This was primarily driven by increased business activity and more test flights. The overall reduction progress since 2020 amounts to approximately 34 per cent, which is in line with Saab’s 2030 SBTi target. During the quarter, Saab published its Climate Transition Plan. The plan details Saab's strategy and pathway to deliver on its science-based climate targets and net-zero commitment. It also describes Saab's approach to decarbonisation, governance, financing, and climate-related risks and opportunities. Occupational health and safety During the first nine months of 2026, the Total Recordable Injury Frequency Rate (TRIFR) decreased by 1 per cent compared with the 2025 base year. This development aligns with Saab's long-term ambition to continuously improve occupational health and safety performance. Innovation and partnerships Diversity and inclusion During the quarter, the share of women employees increased to 28 per cent and the share of women managers remained at 30 per cent. During the quarter Saab joined Diversity Charter Sweden, thereby committing to a collaborative forum to exchange insights and best practices with other member organisations. 1 Number of recordable injuries / total hours worked x 1,000,000. Figures for previous years have been restated following a change in the calculation methodology for hours worked. 2 SBTi Near Term Target relates to the planned reduction trajectory to meet the 2030 goal 3 Carbon dioxide equivalent 3.912.912.882024 2025 Jan-Sep 2026 0%-18%-24%-25%-31%-36%-34%0%-4%-8%-13%-17%-21%-25%010,00020,00030,00040,000Baseyear20202021 2022 2023 2024 2025 Rolling12MonthsScope 1 & 2 (tCO₂-eq)Change from base yearNear Term Target SBTi² 27%28%29%30%25%26%27%28%2023 2024 2025 Sep 2026Share of Women ManagersShare of Women Employees
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1 4 IN T ER IM R EPO R T Q 3 2 0 2 6 Significant events January-September 2026 On 1 April, Saab held its Annual General Meeting in Linköping, Sweden and the AGM decided on a dividend of SEK 2.40 per share to be paid out in two equal instalments. The first instalment of the dividend (SEK 1.20 per share) was paid out on 10 April 2026. The second instalment (SEK 1.20 per share) was paid out on 9 October 2026. Effective 1 April, Saab has established a new business area, Naval, bringing together the company’s naval capabilities. On 9 June, Saab announced the divestment of its Public Safety Solutions operations to Norwegian Omda AS. Completion of the divestment is subject to certain conditions that are expected to be fulfilled in Q4 2026. On 17 June, Saab announced a strategic investment of EUR 11.1 million for a 10% equity stake in Paris-based battlefield AI company, Comand AI. On 29 June, Saab signed a contract with the Polish State Treasury Armaments Agency and received an order for the production and delivery of three A26-type submarines. The order value corresponds to approximately SEK 47 billion. Saab will deliver continuously with the final deliveries scheduled during 2038. On 30 June, Saab signed a contract with the Swedish Defence Materiel Administration (FMV) for 16 Gripen E fighter aircraft for Ukraine. The order value corresponds to approximately SEK 24.6 billion. Saab’s deliveries to FMV are scheduled to take place 2029-2030. On 7 July, NATO Secretary General Mark Rutte announced at the NATO Summit in Ankara, Turkey, that NATO will begin formal negotiations with Saab regarding the acquisition of up to ten GlobalEye systems. At this point, Saab has not signed a contract or received an order related to the announcement. On 16 July, Saab signed a contract with the German naval defence company TKMS and received an order to equip four of the German Navy’s new MEKO A-200 DEU class frigates. The order value is approximately SEK 8.7 billion and Saab’s deliveries to TKMS will take place between 2029 and 2032. On 27 July, Saab received an order for two GlobalEye aircraft from an undisclosed country. The order value was SEK 10.1 billion and deliveries will take place in 2030. On 22 August, Saab showcased a concept model for a future uncrewed combat air system (A3-001) during the Swedish Armed Forces Air Show. On 9 September, Saab received an order from the Swedish Defence Materiel Administration (FMV) for continued concept work on future fighter system. The order value was approximately SEK 2.9 billion. The contract period is 2026-2028, with options for 2029 and 2030. On 10 September, Saab announced changes to its Group Management team. Anders Carp was appointed Head of Dynamics while remaining Deputy CEO, Marcus Wandt was appointed Head of Aeronautics, Görgen Johansson left the Group Management team, and Lars Tossman assumed responsibility for Group Strategy and Growth while remaining a member of the Group Management team. On 25 September, Saab announced that it has signed a non-binding term-sheet agreement with the Canadian Defence Investment Agency (DIA) regarding the potential acquisition of six GlobalEye aircraft for the Royal Canadian Air Force. For more information on significant orders received during the period, see page 4 and the comments on the business areas on page 8-10. All press releases can be found on www.saab.com/newsroom. Events after the conclusion of the period On 22 October, the Board of Directors decided to adjust the Key Employee Plan 2027 ("KEY 2027"), that is based on synthetic shares, by adding a participant group of up to 200 employees with a higher allocation level of 30 per cent (compared to the ordinary 15 per cent). The total number of participants continues to be 2,000. The purpose is to further strengthen Saab's ability to attract and retain business-critical expertise. KEY 2027 will not result in any share dilution and will only entail a cost for Saab. The total impact on the income statement is estimated to approximately 338 MSEK distributed over the years 2027-2030 compared to 307 MSEK under the previously decided KEY 2027. Future fighter concept order from Sweden Saab has received an order from the Swedish Defence Materiel Administration (FMV) for continued concept work on future fighter system. The order value is approximately SEK 2.9 billion. The contract period is 2026-2028, with options for 2029 and 2030. The contract is to further develop and demonstrate new technologies for future fighter system. The work includes flying and ground-based demonstrators, advanced studies and the development of future system concepts for manned and unmanned systems. The programme strengthens Sweden’s national capabilities in systems integration, autonomy, signature adaptation, propulsion, digital development and future production capabilities. Changes in group management team Effective 1 October, Saab implemented changes to its Group Management team to support continued growth and innovation. Anders Carp was appointed head of Dynamics while remaining Deputy CEO, and Marcus Wandt was appointed head of Aeronautics. Görgen Johansson left the Group Management team to become strategic advisor to the CEO, while Lars Tossman assumed responsibility for Group Strategy and Growth and remained a member of the Group Management team. Saab’s Chief Digital Officer, Mikael Adelsberg, also assumed additional responsibility for the company’s IT operations.
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1 5 IN T ER IM R EPO R T Q 3 2 0 2 6 Consolidated income statement Consolidated statement of comprehensive income MSEK Note Jan-Sep 2026 Jan-Sep 2025 Rolling 12 Months Full Year 2025Sales 4 65,170 51,449 92,867 79,146Cost of goods sold -50,134 -39,832 -72,280 -61,978Gross income 15,036 11,617 20,587 17,168Gross margin, % 23.1 22.6 22.2 21.7Other operating income 5 145 161 522 538Marketing expenses -2,343 -2,389 -3,187 -3,233Administrative expenses -2,288 -2,081 -2,992 -2,785Research and development expenses -3,723 -2,526 -4,820 -3,623Other operating expenses -203 -110 -228 -135Share of income in associated companies and joint ventures 5 35 133 38 136Operating income (EBIT) ¹⁾ ²⁾ 3, 5 6,659 4,805 9,920 8,066Operating margin, % 10.2 9.3 10.7 10.2Financial income 368 567 509 708Financial expenses -561 -527 -789 -755Net financial items -193 40 -280 -47Income before taxes 6,466 4,845 9,640 8,019Taxes -1,398 -1,057 -2,004 -1,663Net income for the period 5,068 3,788 7,636 6,356of which Parent Company’s shareholders’ interest 4,968 3,754 7,528 6,314of which non-controlling interest 100 34 108 42Earnings per share before dilution, SEK ³⁾ 9.23 7.00 13.99 11.77Earnings per share after dilution, SEK ⁴⁾ 9.18 6.95 13.91 11.701) Of which depreciation/amortisation and write-downs -2,679 -2,339 -3,621 -3,2812) Operating income adjusted for items affecting comparability is reported for 2025, see note 53) Average number of shares before dilution 538,418,923 536,303,380 538,181,118 536,594,4614) Average number of shares after dilution 541,037,043 539,947,221 541,197,900 539,791,904MSEK Jan-Sep 2026 Jan-Sep 2025 Rolling 12 Months Full Year 2025Net income for the period 5,068 3,788 7,636 6,356Other comprehensive income/loss:Items that will not be reversed in the income statement:Revaluation of net pension obligations 539 1,021 360 842Tax attributable to revaluation of net pension obligations -111 -211 -74 -174Equity instruments classified as measured at fair value through other comprehensive income5,634 -105 5,587 -152Total 6,062 705 5,873 516Items that may be reversed in the income statement:Translation differences 759 -891 569 -1,081Cash flow hedges -2,679 3,325 -2,454 3,550Tax attributable to cash flow hedges 566 -689 510 -745Interest-bearing investments classified as measured at fair value through other comprehensive income-9 18 -7 20Tax attributable to interest-bearing investments classified as measured at fair value through other comprehensive income2 -4 2 -4Total -1,361 1,759 -1,380 1,740Other comprehensive income/loss for the period 4,701 2,464 4,493 2,256Net comprehensive income/loss for the period 9,769 6,252 12,129 8,612of which Parent Company’s shareholders’ interest 9,653 6,246 12,010 8,603of which non-controlling interest 116 6 119 9
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1 6 IN T ER IM R EPO R T Q 3 2 0 2 6 Consolidated statement of financial position MSEK Note 30 Sep 2026 31 Dec 2025 30 Sep 2025ASSETSFixed assets:Intangible fixed assets 7 12,656 12,585 12,695Tangible fixed assets 21,830 16,882 15,281Biological assets 407 406 406Right of use assets 5,068 4,764 3,724Shares in associated companies and joint ventures 403 356 377Financial investments 9,213 2,990 2,931Long-term interest-bearing investments 4,462 3,321 3,323Long-term receivables 675 410 424Deferred tax assets 471 412 466Total fixed assets 55,185 42,126 39,627Current assets:Inventories 28,618 25,439 25,869Derivatives 1,513 2,484 2,202Tax receivables 376 247 442Accounts receivable 13,481 13,713 7,802Contract assets 23,233 18,475 17,889Other receivables 4,622 5,194 3,767Prepaid expenses and accrued income 2,876 1,668 2,174Short-term interest-bearing investments 12,956 11,643 6,335Liquid assets 11 8,704 3,715 2,590Assets held for sale 12 68 - 277Total current assets 96,447 82,578 69,347TOTAL ASSETS 151,632 124,704 108,974SHAREHOLDERS’ EQUITY AND LIABILITIESShareholders’ equity:Parent Company’s shareholders’ interest 51,996 43,336 40,891Non-controlling interest 450 340 345Total shareholders’ equity 52,446 43,676 41,236Long-term liabilities:Long-term lease liabilities 4,539 4,198 3,094Other long-term interest-bearing liabilities 8 12,140 8,475 7,880Other liabilities 185 176 159Provisions for pensions 13 33 383 247Other provisions 1,666 2,035 2,288Deferred tax liabilities 1,717 2,017 1,988Total long-term liabilities 20,280 17,284 15,656Current liabilities:Short-term lease liabilities 792 726 747Other short-term interest-bearing liabilities 8 583 1,310 1,334Contract liabilities 46,611 33,858 27,630Accounts payable 9,059 10,140 6,674Derivatives 2,067 559 551Tax liabilities 556 1,080 808Other liabilities 2,536 1,856 1,946Accrued expenses and deferred income 15,151 12,197 11,280Provisions 1,474 2,018 1,083Liabilities related to assets held for sale 12 77 - 29Total current liabilities 78,906 63,744 52,082Total liabilities 99,186 81,028 67,738TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 151,632 124,704 108,974
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1 7 IN T ER IM R EPO R T Q 3 2 0 2 6 Consolidated statement of changes in equity MSEK Capital stock Other capital contri-butions Net result of cash flow hedges Translation reserve Retained earnings Total parent company's shareholders' interest Non-controlling interest Total shareholders' equity Opening balance, 1 January 20252,174 6,099 -1,055 1,250 27,03535,50330935,812Net comprehensive income/loss for the period January-September 20252,636 -864 4,4746,24666,252Transactions with shareholders:Dividend received on shares in equity swap11 1Share matching plan215215 215Dividend-1,074-1,074-23-1,097Acquisition and sale of non-controlling interest--5353 Closing balance, 30 September 2025 2,174 6,099 1,581 386 30,651 40,891 345 41,236Net comprehensive income/loss for the period October-December 2025169 -184 2,3722,35732,360Transactions with shareholders:Dividend received on shares in equity swap11 1Share matching plan8989 89Dividend-2-2-28-30Acquisition and sale of non-controlling interest--2020 Closing balance, 31 December 2025 2,174 6,099 1,750 202 33,111 43,336 340 43,676Opening balance, 1 January 20262,174 6,099 1,750 202 33,11143,33634043,676Net comprehensive income/loss for the period January-September 2026-2,113 744 11,0229,6531169,769Transactions with shareholders:Dividend received on shares in equity swap11 1Share matching plan320320 320Dividend-1,294-1,294-29-1,323Acquisition and sale of non-controlling interest-20-20233 Closing balance, 30 September 2026 2,174 6,099 -363 946 43,140 51,996 450 52,446
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1 8 IN T ER IM R EPO R T Q 3 2 0 2 6 Consolidated statement of cash flows MSEK Note Jan-Sep 2026 Jan-Sep 2025 Full Year 2025Operating activities:Income after financial items 6,466 4,845 8,019Adjustments for items not affecting cash flows 2,548 3,045 4,725Dividend from associated companies and joint ventures 6 69 77Income tax paid -1,947 -952 -1,036Cash flow from operating activities before changes in working capital 7,073 7,007 11,785Cash flow from changes in working capital:Contract assets and liabilities 8,077 -1,783 3,800Inventories -3,024 -4,221 -3,811Other current receivables -276 3,187 -3,725Other current liabilities 1,721 -167 4,860Provisions -810 -383 -804Cash flow from operating activities 12,761 3,640 12,105Investing activities:Capitalised development costs -482 -526 -731Investments in other intangible fixed assets -182 -404 -379Investments in tangible fixed assets -5,897 -4,021 -6,112Sales and disposals of tangible and intangible fixed assets including biological assets 25 31 35Investments in and sale of short-term investments -1,350 2,591 -2,728Investments in financial assets, associated companies and joint ventures -1,708 -2,119 -2,207Investments in operations - -60 -60Sale of subsidiaries and other operations 9 - 539Cash flow from investing activities -9,585 -4,508 -11,643Financing activities:Repayments of loans -1,227 -151 -173Amortisation of lease liabilities -591 -541 -726Raising of loans and increase in other interest-bearing liabilities 4,184 2,007 2,600Dividend paid to Parent Company’s shareholders -647 -537 -1,076Dividend paid to non-controlling interest -29 -23 -51Transactions with non-controlling interest - 53 73Cash flow from financing activities 1,690 808 647Cash flow for the period 4,866 -60 1,109Liquid assets at the beginning of the period 3,715 2,843 2,843Exchange rate difference in liquid assets 123 -193 -237Liquid assets at end of period 11 8,704 2,590 3,715
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1 9 IN T ER IM R EPO R T Q 3 2 0 2 6 Quarterly consolidated income statement Quarterly consolidated statement of comprehensive income MSEK Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024Sales 20,553 25,453 19,164 27,697 15,871 19,786 15,792 20,850Cost of goods sold -15,740 -19,705 -14,689 -22,146 -12,229 -15,530 -12,073 -16,564Gross income 4,813 5,748 4,475 5,551 3,642 4,256 3,719 4,286Gross margin, % 23.4 22.6 23.4 20.0 22.9 21.5 23.5 20.6Other operating income 48 57 40 377 62 58 41 150Marketing expenses -747 -839 -757 -844 -807 -828 -754 -1,000Administrative expenses -835 -770 -683 -704 -692 -684 -705 -668Research and development expenses -1,296 -1,317 -1,110 -1,097 -814 -911 -801 -818Other operating expenses -54 -93 -56 -25 -27 -24 -59 -41 Share of income in associated companies and joint ventures 16 8 11 3 10 110 13 44Operating income (EBIT) ¹⁾ 1,945 2,794 1,920 3,261 1,374 1,977 1,454 1,953Operating margin, % 9.5 11.0 10.0 11.8 8.7 10.0 9.2 9.4Financial income 98 146 124 141 89 153 325 126Financial expenses -187 -183 -191 -228 -204 -165 -158 -354Net financial items -89 -37 -67 -87 -115 -12 167 -228Income before taxes 1,856 2,758 1,853 3,174 1,259 1,965 1,621 1,725Taxes -424 -587 -387 -606 -284 -429 -344 -283Net income for the period 1,432 2,170 1,466 2,568 975 1,536 1,277 1,442of which Parent Company’s shareholders’ interest 1,389 2,142 1,437 2,560 957 1,529 1,268 1,435of which non-controlling interest 43 28 29 8 18 7 9 7Earnings per share before dilution, SEK ²⁾2.58 3.98 2.67 4.76 1.78 2.85 2.37 2.68Earnings per share after dilution, SEK ³⁾2.57 3.96 2.65 4.73 1.77 2.83 2.35 2.661) Of which depreciation/amortisation and write-downs -888 -980 -811 -942 -799 -854 -686 -7812) Average number of shares before dilution538,849,088 538,423,928 537,983,753 537,467,703 536,903,275 536,345,756 535,661,111 534,848,9753) Average number of shares after dilution541,466,492 541,220,666 541,303,711 540,800,732 540,743,011 541,201,620 539,768,124 540,113,152MSEK Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024Net income for the period 1,432 2,170 1,466 2,568 975 1,536 1,277 1,442Other comprehensive income/loss:Items that will not be reversed in the income statement:Revaluation of net pension obligations 542 -359 356 -179 319 276 426 -31Tax attributable to revaluation of net pension obligations -112 74 -73 37 -66 -57 -88 6Equity instruments classified as measured at fair value through other comprehensive income213 5,401 20 -47 -19 61 -147 49Total 643 5,116 303 -189 234 280 191 24Items that may be reversed in the income statement:Translation differences 269 264 226 -190 -33 -224 -634 373Net gain/loss on cash flow hedges -737 -1,029 -913 225 45 1,049 2,231 -2,514Tax attributable to net gain/loss on cash flow hedges 158 215 193 -56 -15 -216 -458 530Interest-bearing investments classified as measured at fair value through other comprehensive income-30 31 -10 2 -3 14 7 -3Tax attributable to interest-bearing investmentss classified as measured at fair value through other comprehensive income6 -6 2 0 - -3 -1 -Total -334 -525 -502 -19 -6 620 1,145 -1,614Other comprehensive income/loss for the period 309 4,591 -199 -208 228 900 1,336 -1,590Net comprehensive income/loss for the period 1,741 6,761 1,267 2,360 1,203 2,436 2,613 -148of which Parent Company's shareholders' interest 1,692 6,727 1,234 2,357 1,187 2,440 2,619 -174of which non-controlling interest 49 34 33 3 16 -4 -6 26
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2 0 IN T ER IM R EPO R T Q 3 2 0 2 6 Key ratios by quarter Quarterly information per operating segment MSEK Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024Equity/assets ratio, (%) 34.6 37.3 36.2 35.0 37.8 37.7 37.8 35.9Return on capital employed, % ³⁾16.7 17.0 16.6 16.5 14.6 15.3 14.2 13.6Return on equity, % ³⁾ 16.3 15.9 15.7 16.0 13.6 14.0 13.0 12.4Equity per share, SEK ¹⁾³⁾ 96.46 93.18 82.96 80.58 76.12 73.84 71.23 66.33Free cash flow, MSEK ³⁾ 5,647 -293 -301 6,451 -476 -1,322 -447 3,267Free cash flow per share after dilution, SEK ²⁾³⁾10.43 -0.54 -0.56 11.93 -0.88 -2.44 -0.83 6.051) Number of shares excluding treasury shares and repurchased through equity swap539,048,711 538,649,464 538,198,392 537,769,114 537,166,291 536,640,258 536,051,253 535,270,9682) Average number of shares after dilution541,466,492 541,220,666 541,303,711 540,800,732 540,743,011 541,201,620 539,768,124 540,113,1523) For more information and explanations regarding the usage of these key ratios, please see www.saab.com/investors/financials/financial-dataMSEK Q3 2026 Operating margin Q2 2026 Operating margin Q1 2026 Operating margin Q4 2025 Operating margin SalesAeronautics 4,844 5,813 5,199 5,746Dynamics 3,768 7,759 3,634 8,397Surveillance 6,842 7,366 5,027 8,168Naval 4,511 4,183 4,468 4,983Combitech 1,071 1,331 1,367 1,430Corporate/elimination -483 -999 -531 -1,027Total 20,553 25,453 19,164 27,697Operating income/lossAeronautics 3316.8%3375.8%3286.3%3496.1%Dynamics 53714.3%1,52219.6%63717.5%1,42216.9%Surveillance 93913.7%84511.5%52010.3%1,63020.0%Naval 2756.1%1804.3%3397.6%1082.2%Combitech 11710.9%1279.5%15511.3%16211.3%Corporate -254 -217 -59 -410Total 1,945 9.5% 2,794 11.0% 1,920 10.0% 3,261 11.8% MSEK Q3 2025 Operating margin Q2 2025 Operating margin Q1 2025 Operating margin Q4 2024 Operating margin SalesAeronautics 4,438 4,424 4,525 5,594Dynamics 3,411 5,714 3,143 5,615Surveillance 4,146 4,996 3,946 4,622Naval 3,203 3,826 3,501 4,428Combitech 1,025 1,340 1,182 1,298Corporate/elimination -352 -514 -505 -707Total 15,871 19,786 15,792 20,850Operating income/lossAeronautics 2124.8%2495.6%3678.1%2524.5%Dynamics 65819.3%1,19420.9%46114.7%1,19221.2%Surveillance 44610.8%54610.9%3699.4%4309.3%Naval 2407.5%2095.5%2727.8%51311.6%Combitech 858.3%1138.4%11810.0%13610.5%Corporate -267 -334 -133 -570Total 1,374 8.7% 1,977 10.0% 1,454 9.2% 1,953 9.4% Due to the structural change where business unit Naval Combat Systems has been transferred from business area Surveillance to Naval as of 1 April 2026, 2025 has been restated. Proforma statements are available at saab.com/investors/financials/financial-data.
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2 1 IN T ER IM R EPO R T Q 3 2 0 2 6 Multi-year overview MSEK 2025 2024 2023 2022 2021 Order bookings 168,519 96,798 77,811 63,116 43,569Order backlog at 31 December 274,532 187,223 153,409 127,676 105,177Sales 79,146 63,751 51,609 42,006 39,154Sales in Sweden, % 41 41 42 42 38Sales in Europe excluding Sweden, % 26 25 23 19 17Sales in North America, % 9 10 11 11 11Sales in Latin America, % 4 7 7 9 15Sales in Rest of the World, % 12 13 16 19 19Sales in Undisclosed countries, % 8 4 1 - -Organic sales growth, % 26 24 23 5 11Operating income (EBIT) 8,066 5,662 4,272 3,274 2,888Operating margin, % 10.2 8.9 8.3 7.8 7.4Adjusted operating income 7,730 5,662 4,272 3,274 2,888Adjusted operating margin, % 9.8 8.9 8.3 7.8 7.4Depreciation/amortisation and write-downs 3,281 2,740 2,286 2,127 1,938EBITDA 11,347 8,402 6,558 5,401 4,826EBITDA margin, % 14.3 13.2 12.7 12.9 12.3Income after financial items 8,019 5,289 4,418 2,819 2,577Net income for the year 6,356 4,210 3,443 2,283 2,025Total assets 124,704 99,823 82,759 72,365 65,039Equity 43,676 35,812 32,362 29,876 23,249Free cash flow ¹⁾ 4,206 993 1,566 1,871 2,737Cash conversion, % ¹⁾ 68 ²⁾44 74 79 113Return on capital employed, % ¹⁾ 16.5 13.6 11.9 8.8 8.1Return on equity, % ¹⁾ 16.0 12.4 11.1 8.6 9.0Equity/assets ratio, % 35.0 35.9 39.1 41.3 35.7Earnings per share before dilution, SEK ¹⁾³⁾ 11.77 7.81 6.36 4.15 3.64Earnings per share after dilution, SEK ¹⁾³⁾ 11.70 7.74 6.29 4.10 3.61Dividend per share, SEK ³⁾ 2.40 2.00 1.60 1.33 1.23Equity per share, SEK ¹⁾³⁾ 80.58 66.33 60.11 55.64 43.58Number of full-time equivalent employees at year-end 27,865 24,523 21,610 19,121 18,011Number of shares excluding treasury shares 31 December ³⁾537,769,114 535,270,968 532,989,260 529,955,536 527,240,712Average number of shares before dilution ³⁾ 536,594,461 534,007,696 531,535,632 528,630,344 528,658,396Average number of shares after dilution ³⁾ 539,791,904 539,218,308 537,511,328 534,896,892 533,173,360 1) For more information and explanations regarding the usage of these key ratios, please see www.saab.com/investors/financials/financial-data 2) Based on adjusted operating income 3) Comparison periods adjusted for share split 4:1
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2 2 IN T ER IM R EPO R T Q 3 2 0 2 6 Parent company The Parent Company includes units within the business areas Aeronautics, Dynamics, Surveillance, Naval as well as one unit within Combitech. Group staff and Group support are also included. A major part of the Group’s operations is included in the Parent Company. Separate notes to the Parent Company’s financial statements and a separate description of risks and uncertainties for the Parent Company have therefore not been included in this interim report. Parent company income statement Parent company balance sheet Liquidity, financing, capital expenditures and FTEs The Parent Company’s net debt amounted to SEK 4,879 million as of 30 September 2026 compared to a net debt of SEK 2,243 million at 31 December 2025. Investments in tangible fixed assets amounted to SEK 2,871 million (2,046). Investments in intangible fixed assets amounted to SEK 444 million (380). At the end of the period, the Parent Company had 15,521 FTEs compared to 13,844 at the beginning of the year. MSEK Jan-Sep 2026 Jan-Sep 2025 Full Year 2025Sales 38,210 28,286 42,966Cost of goods sold -31,579 -23,637 -35,955Gross income 6,631 4,649 7,011Gross margin, % 17.4 16.4 16.3Operating income and expenses -4,629 -3,663 -5,143Operating income (EBIT) 2,002 986 1,868Operating margin, % 5.2 3.5 4.3Financial income and expenses 208 727 2,334Income after financial items 2,210 1,713 4,202Appropriations - - -1,085Income before taxes 2,210 1,713 3,117Taxes -252 -324 -485Net income for the period 1,958 1,389 2,632 MSEK Note 30 Sep 2026 31 Dec 2025 30 Sep 2025 ASSETSFixed assets:Intangible fixed assets 1,096 1,168 1,368Tangible fixed assets 10,764 8,693 7,870Financial fixed assets 15,305 13,499 12,971Total fixed assets 27,165 23,360 22,209Current assets:Inventories 14,940 14,536 14,378Current receivables 35,833 32,062 26,204Short term investments 12,904 11,597 6,294Liquid assets 6,868 2,045 1,288Total current assets 70,545 60,240 48,164TOTAL ASSETS 97,710 83,600 70,373SHAREHOLDERS’ EQUITY AND LIABILITIESEquity:Restricted equity 3,342 3,342 3,348Unrestricted equity 18,243 17,259 15,920Total shareholders’ equity 21,585 20,601 19,268Untaxed reserves, provisions and liabilities:Untaxed reserves 5,835 5,835 4,750Provisions 1,647 2,116 2,051Liabilities 8 68,643 55,048 44,304Total untaxed reserves, provisions and liabilities 76,125 62,999 51,105TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 97,710 83,600 70,373
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2 3 IN T ER IM R EPO R T Q 3 2 0 2 6 Notes to the financial statements Note 1 Corporate information Saab AB (publ.), corporate identity no. 556036-0793, has its registered office in Linköping, Sweden. The company’s head office is located at Olof Palmes gata 17, 5tr, SE-111 22 Stockholm, Sweden, telephone number +46-8-463 00 00. Saab’s B shares are listed on Nasdaq Stockholm since 1998 and on the large cap list as of October 2006. The company’s operations, including subsidiaries, associated companies and joint ventures, are described in the Annual and Sustainability Report 2025. Note 2 Accounting principles The interim report for the first nine months 2026 has been prepared in accordance with IAS 34 Interim Reporting and the Annual Accounts Act. The Parent Company’s accounts have been prepared in accordance with the Annual Accounts Act and the Swedish Corporate Reporting Board’s recommendation RFR 2, Accounting for Legal Entities. The Group’s and the Parent Company’s accounting principles are described on pages 162- 164, and concerning significant income statement and balance sheet items, in each note disclosure in the Annual Report 2025. The interim report is condensed and does not contain all the information and disclosures in the annual report and should therefore be read together with the Annual Report 2025. All information on pages 1-31 constitutes the interim report for the first nine months 2026. The Group and the Parent Company use the accounting principles and calculation methods as described in the Annual Report 2025. Important estimates and assumptions are disclosed in note 2 in the Annual Report 2025. During the first quarter 2026, Saab has increased the application of hedge accounting to include also derivatives that hedge currency risk in tenders. Additionally, during the third quarter 2026, Saab implemented fair value hedge accounting of interest rate risk related to fixed-rate borrowings issued under the EMTN programme. The group is preparing for the implementation of IFRS 18 which enters into force from 2027, see note 1 in the Annual Report 2025. IFRS 18 is not expected to have a material impact on the Group. The most important changes include the introduction of three new categories to the income statement where the result from associated companies and joint ventures will be classified in the new investment category. Note 3 Segment reporting Saab is a leading high-technology company, with its main operations in defence, aviation and civil security. Operations are primarily focused on well-defined areas in defence electronics, missile systems, and naval systems as well as military and commercial aviation. Saab is also active in technical services and maintenance. Saab has a strong position in Sweden and the main part of sales is generated in Europe. In addition, Saab has a local presence in Australia, the U.S., South Africa, and in other selected countries. Saab’s operating and management structure is divided into four business areas, which are also operating segments: Aeronautics, Dynamics, Surveillance and Naval. In addition, Combitech, which provides consulting services, is an independent, wholly owned subsidiary of Saab. Corporate comprises Group staff and departments, a minority portfolio containing Saab’s ownership interests in companies in various stages of development as well as other operations outside the core operations. The Group’s operating segments recognise all lease contracts as expenses on a straight-line basis over the lease term. Due to the structural change where business unit Naval Combat Systems has been transferred from business area Surveillance to Naval as of 1 April 2026, 2025 has been restated. Proforma statements are available at saab.com/investors/financials/financial-data. Aeronautics Aeronautics is a world-leading manufacturer of innovative aerial systems and is engaged in development of military aviation technology. It also conducts long-term future studies of manned and unmanned aircraft as preparation for new systems and further development of existing products. Dynamics Dynamics offers a market-leading product portfolio comprising ground combat weapons, missile systems, systems for training and simulation, signature management systems for armed forces around the world, and niche products for the civil and defence markets. Surveillance Surveillance provides efficient solutions for safety and security, for surveillance and decision support, and for threat detection, location, and protection. The portfolio covers C4I solutions, airborne, ground-based and naval radar and electronic warfare, as well as airborne and ground- based combat systems. Naval Naval develops, delivers, and maintains world-class solutions for naval environments. Its portfolio includes submarines with the Stirling system for air independent propulsion, surface combatants, naval combat systems, mine hunting systems, autonomous vessels, torpedoes and unmanned underwater vehicles. Navals’ unique competence is in signature management, impact strength and advanced stealth technology. Combitech Combitech is reported as an operating segment outside the business area structure within Saab Group. The wholly owned subsidiary offers technology consulting services in systems development and integration, information and systems security, communications, mechanics, technical product information and logistics. Combitech is active in aviation, defence, telecom and other industries as well as the public sector. Order bookings per operating segment Order bookings per region Order backlog per operating segment Order backlog per region Jan-SepJan-SepQ3Q3RollingFull YearMSEK202620252026202512 Months2025 Aeronautics 34,559 16,617 108 28,831 7,411 289 79,406 61,464Dynamics 17,778 21,562 -18 7,642 6,451 18 28,610 32,394Surveillance 34,388 15,287 125 19,688 4,004 392 65,903 46,802Naval 64,270 12,566 411 8,858 3,024 193 76,537 24,833Combitech 4,172 3,350 25 1,291 690 87 5,713 4,891Corporate 976 2,119 -54 606 90 573 1,101 2,244Elimination -3,682 -3,093 -1,091 -809 -4,698 -4,109Total 152,461 68,408 123 65,825 20,861 216 252,572 168,519Change, % Change, % Jan-Sep Jan-Sep Q3 Q3 Rolling Full YearMSEK 2026 2025 2026 202512 Months2025Sweden 23,370 24,163 -3 6,242 3,746 67 56,294 57,087Rest of Europe 98,323 20,677 376 40,271 4,623 771 129,369 51,723North America 8,635 7,175 20 3,414 2,657 28 10,722 9,262Latin America 974 4,510 -78 458 1,127 -59 34,290 37,826Asia 18,529 8,288 124 14,779 6,517 127 18,680 8,439Africa 11 586 -98 -457 382 -220 80 655Australia, etc. 2,623 2,700 -3 1,104 1,822 -39 3,007 3,084Undisclosed countries -4 309 -101 14 -13 -208 130 443Total 152,461 68,408 123 65,825 20,861 216 252,572 168,519Change, % Change, % MSEK 30 Sep 2026 31 Dec 2025 30 Sep 2025 Aeronautics 102,539 83,783 44,690Dynamics 93,130 90,095 87,709Surveillance 78,327 62,039 38,697Naval 90,655 38,741 31,464Combitech 2,247 1,845 1,732Corporate 2,146 2,173 2,232Elimination -4,821 -4,144 -4,116Total 364,223 274,532 202,408MSEK 30 Sep 2026 31 Dec 2025 30 Sep 2025 Sweden 74,720 77,324 54,694Rest of Europe 171,581 91,099 68,648North America 19,035 14,368 14,981Latin America 45,162 47,954 15,527Asia 25,375 11,978 13,533Africa 775 1,103 975Australia etc. 4,864 3,886 4,234Undisclosed countries 22,711 26,820 29,816Total 364,223 274,532 202,408
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2 4 IN T ER IM R EPO R T Q 3 2 0 2 6 Sales per operating segment Sales per region Information on large customers During the first nine months 2026, Saab had one customer that separately accounted for 10 per cent or more of the Group’s sales. The Swedish Defence is a customer of all business areas and total sales amounted to SEK 22,645 million (19,700) during the period. Seasonal variation A major part of Saab’s business is related to large projects where the revenue is recognised by using the percentage of completion method. The costs incurred in these projects are normally lower during the third quarter compared to other quarters. The fourth quarter is also usually affected by a higher number of deliveries, mainly within Dynamics. Operating income per operating segment Depreciation/amortisation and write-downs per operating segment Operational cash flow per operating segment Capital employed per operating segment Full time equivalents (FTEs) per operating segment Jan-Sep Jan-Sep Change,Q3 Q3 Change, Rolling Full YearMSEK2026 2025 %2026 2025 %12 Months2025 Aeronautics 15,856 13,387 18 4,844 4,438 9 21,602 19,133Dynamics 15,161 12,268 24 3,768 3,411 10 23,558 20,665Surveillance 19,235 13,088 47 6,842 4,146 65 27,403 21,256Naval 13,162 10,530 25 4,511 3,203 41 18,145 15,513Combitech 3,769 3,547 6 1,071 1,025 4 5,199 4,977Corporate 982 724 36 352 251 40 1,100 842Elimination -2,995 -2,095 -835 -603 -4,140 -3,240Total 65,170 51,449 27 20,553 15,871 30 92,867 79,146Jan-SepJan-SepFull YearMSEK202620252025Sweden 25,959 40 22,182 43 32,509 41Rest of Europe 18,873 29 12,359 24 20,392 26North America 4,662 7 4,485 9 7,069 9Latin America 3,767 6 2,545 5 3,439 4Asia 5,471 8 4,030 8 5,856 7Africa 296 1 310 1 485 1Australia, etc. 2,033 3 2,308 4 3,038 4Undisclosed countries 4,109 6 3,230 6 6,358 8Total 65,170 100 51,449 100 79,146 100% of sales% of sales% of salesJan-SepJan-SepQ3Q3RollingFull YearMSEK202620252026202512 Months2025 Aeronautics 996 6.3 828 6.2 331 212 1,345 1,177Dynamics 2,696 17.8 2,313 18.9 537 658 4,118 3,735Surveillance 2,304 12.0 1,361 10.4 939 446 3,934 2,991Naval 794 6.0 721 6.8 275 240 902 829Combitech 399 10.6 316 8.9 117 85 561 478Group segments' operating income7,189 11.2 5,539 10.9 2,199 1,641 10,860 9,210Corporate -530 -734 -254 -267 -940 -1,144 Total 6,659 10.2 4,805 9.3 1,945 1,374 9,920 8,066% of sales% of sales Jan-Sep Jan-Sep Q3 Q3 RollingFull Year MSEK2026 2025 2026 2025 12 Months2025 Aeronautics 460 336 37 156 140 613 489Dynamics 166 118 41 59 42 223 175Surveillance 436 634 -31 165 215 583 781Naval 108 89 21 38 31 143 124Combitech 14 12 17 5 5 19 17Corporate 1,495 1,150 30 465 366 2,040 1,695Total 2,679 2,339 15 888 799 3,621 3,281Change, %Jan-Sep Jan-Sep Q3 Q3 RollingFull Year MSEK2026 2025 2026 2025 12 Months2025 Aeronautics -1,663 -3,568 253 -79 -32 -1,937Dynamics 3,318 5,885 -286 295 5,076 7,643Surveillance 2,904 -2,258 1,811 -331 5,848 686Naval 5,123 166 5,981 232 5,143 186Combitech 257 52 142 -90 593 388Corporate -2,199 -1,285 -1,116 115 -2,607 -1,693Total 7,740 -1,008 6,785 142 14,021 5,273MSEK 30 Sep 2026 31 Dec 2025 30 Sep 2025Aeronautics 18,623 14,974 16,300Dynamics 9,667 6,719 6,224Surveillance 12,952 12,743 13,951Naval 7,957 6,675 6,521Combitech 1,451 1,427 1,315Corporate/elimination 19,883 16,190 10,215Total 70,533 58,728 54,526Number at end of the period 30 Sep 2026 31 Dec 2025 30 Sep 2025Aeronautics 7,209 6,565 6,493Dynamics 5,402 5,068 4,895Surveillance 7,396 6,589 6,419Naval 5,023 4,422 4,372Combitech 2,718 2,582 2,541Corporate 2,901 2,639 2,550Total 30,649 27,865 27,270
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2 5 IN T ER IM R EPO R T Q 3 2 0 2 6 Note 4 Distribution of sales Note 5 Items affecting comparability There are no items affecting comparability in the first nine months 2026. Operating income adjusted for items affecting comparability was reported for the Saab Group for the full year 2025. For this period, the capital gain related to the divestment of Saab TransponderTech AB was treated as an item affecting comparability. Other items affecting comparability in the table above were not classified as items affecting comparability at Group level but are presented above as they were classified as items affecting comparability on segment area reporting level. Note 6 Dividend to Parent Company’s shareholders The Annual General Meeting 2026 held on 1 April decided on a dividend to the Parent Company’s shareholders of SEK 2.40 per share, corresponding to a total dividend of SEK 1,293 million. The dividend was paid out in two equal instalments. Record date for the first instalment was 7 April 2026 and the dividend was paid out on 10 April 2026. At the second instalment, SEK 1.20 per share was paid on 9 October 2026 with the record date 6 October 2026. Note 7 Intangible fixed assets MSEK Jan-Sep 2026 Jan-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 External sales 15,608 13,316 14,911 12,018 18,592 12,608 12,975 10,424 2,112 2,360 972 723 65,170 51,449Internal sales 248 71 250 250 643 480 187 106 1,657 1,187 -2,985 -2,094 - -Total sales 15,856 13,387 15,161 12,268 19,235 13,088 13,162 10,530 3,769 3,547 -2,013 -1,371 65,170 51,449--------------Sales by customer:Military customers 14,393 12,315 14,678 11,791 17,170 11,437 12,597 10,119 1,063 1,372 392 268 60,293 47,302Civilian customers 1,215 1,001 233 227 1,422 1,171 378 305 1,049 988 580 455 4,877 4,147Total external sales 15,608 13,316 14,911 12,018 18,592 12,608 12,975 10,424 2,112 2,360 972 723 65,170 51,449--------------Sales by significant source:Long-term customer contracts 14,793 12,544 6,114 3,667 10,507 8,130 8,694 7,408 - - 399 220 40,507 31,969Services 599 528 1,407 1,575 2,916 2,455 2,107 1,620 1,959 2,126 145 128 9,133 8,432Products 216 244 7,390 6,776 5,169 2,023 2,174 1,396 153 234 428 375 15,530 11,048Total external sales15,608 13,316 14,911 12,018 18,592 12,608 12,975 10,424 2,112 2,360 972 723 65,170 51,449--------------Sales by domain:Air 14,507 12,100 765 486 7,582 5,604 89 45 34 30 362 157 23,339 18,422Land 143 117 11,002 9,882 7,702 4,081 8 3 1,085 1,354 17 30 19,957 15,467Naval 2 3 3,100 1,589 1,768 1,641 12,873 10,370 19 5 115 133 17,877 13,741Civil Security 17 29 29 33 1,510 1,259 5 6 276 250 62 52 1,899 1,629Commercial Aeronautics 939 1,066 - - 8 3 - - 1 6 8 8 956 1,083Other/not distributed - 1 15 28 22 20 - - 697 715 408 343 1,142 1,107Total external sales15,608 13,316 14,911 12,018 18,592 12,608 12,975 10,424 2,112 2,360 972 723 65,170 51,449--------------Sales recognition method:Over time 13,731 11,436 6,866 4,853 12,984 9,452 11,950 8,936 2,107 2,345 439 323 48,077 37,345Point in time 1,877 1,880 8,045 7,165 5,608 3,156 1,025 1,488 5 15 533 400 17,093 14,104Total external sales15,608 13,316 14,911 12,018 18,592 12,608 12,975 10,424 2,112 2,360 972 723 65,170 51,449 Corporate/ elimination Group Aeronautics Dynamics Surveillance Naval Combitech Item affecting comparability Business Area Line itemJan-Sep 2026 Jan-Sep 2025 Q3 2026 Q3 2025 Full Year 2025Non-recurring contribution from minority portfolio Corporate Share of income in associated companies and joint ventures - 105 - - 105Capital gain from divestment of Saab TransponderTech AB Surveillance Other operating income - - - - 336Total - 105 - - 441MSEK30 Sep 202631 Dec 202530 Sep 2025Goodwill 5,405 5,289 5,268Capitalised development costs 6,061 5,972 5,906Other intangible assets 1,190 1,324 1,521Total 12,656 12,585 12,695
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2 6 IN T ER IM R EPO R T Q 3 2 0 2 6 Note 8 Net liquidity/debt Committed credit lines Parent Company Saab has a Medium Term Note (MTN) programme with a framework of SEK 15,000 million, enabling the issuance of long-term loans on the capital market. The programme was established in 2009 and has since been increased in three steps, most recently during 2025, when the framework was increased from SEK 10,000 million to SEK 15,000 million. Also, during the third quarter 2026, Saab established its Euro Medium Term Note (EMTN) programme with a framework of EUR 2,000 million. The first EUR 300 million EMTN bond was issued during the quarter. During the first quarter 2026, a loan of SEK 1,000 million was repaid. Also, the second half of the NIB loan, SEK 600 million, was paid out during the first quarter. During the second quarter 2026, a loan of SEK 250 million was repaid. At the end of the third quarter, bonds outstanding under the MTN and EMTN programmes amounted to SEK 10,901 million and the loan agreement with NIB amounted to SEK 1,200 million. Note 9 Capital employed Note 10 Financial instruments Classification and categorisation of financial assets and liabilities²⁾ The Group has used the same valuation methods as in the year-end closing of 2025, as described in the Annual Report 2025 on page 203, note 34. As of 30 September 2026, the Group had the following financial assets and liabilities at fair value: Financial assets at fair value Financial liabilities at fair value MSEK 30 Sep 2026 31 Dec 2025 30 Sep 2025 Assets:Liquid assets8,704 3,715 2,590Short-term investments12,956 11,643 6,335Long-term interest-bearing financial investments4,462 3,321 3,323Total liquid investments26,122 18,679 12,248Short-term interest-bearing receivables71 68 66Long-term interest-bearing receivables236 218 229Long-term receivables attributable to pensions337 76 79Total interest-bearing assets 26,766 19,041 12,622Liabilities:Lease liabilities5,331 4,924 3,841Bonds and other debt instruments12,584 9,668 9,074Liabilities to associated companies and joint ventures53 48 49Other interest-bearing liabilities86 69 90Provisions for pensions ¹⁾33 343 235Total interest-bearing liabilities and provisions for pensions18,087 15,052 13,289Net liquidity (+) / net debt (-)8,679 3,989 -6671) Excluding provisions for special employers' contribution attributable to pensions. MSEK Facilities Drawings Available Revolving credit facility (Maturity 2031)6,000 - 6,000Overdraft facility (Maturity 2027)94 - 94Total 6,094 - 6,094MSEK30 Sep 2026 31 Dec 2025 30 Sep 2025 Long-term bonds and other debt instruments 12,103 8,414 7,817Short-term bonds and other debt instruments 498 1,250 1,250Total 12,601 9,664 9,067 MSEK30 Sep 202631 Dec 202530 Sep 2025Total assets 151,632 124,704 108,974Less non-interest bearing liabilities 81,099 65,976 54,448Capital employed 70,533 58,728 54,526Carrying amount 30 Sep 2026 31 Dec 2025 30 Sep 2025 Financial assets:Valued at amortised cost ⁴⁾: Accounts receivable, contract assets and other receivables 39,262 34,370 27,981Liquid assets 8,704 3,715 2,590Long-term receivables 338 334 345Valued at fair value through profit and loss ³⁾: Short-term interest-bearing investments 12,769 11,572 6,264Derivatives for trading 42 107 81Financial investments 254 509 509Valued at fair value through other comprehensive income ³⁾: Derivatives identified as hedges 1,471 2,377 2,121Equity investments elected to be classified as fair value through other comprehensive income 8,959 2,481 2,422Interest-bearing investments 4,649 3,392 3,394Total financial assets 76,448 58,857 45,707Financial liabilities:Valued at amortised cost:Interest-bearing liabilities ¹⁾ ⁵⁾18,052 14,709 13,055Other liabilities ⁴⁾ 19,993 18,250 16,308Valued at fair value through profit and loss ³⁾:Contingent consideration payable 6 14 14Derivatives for trading 131 12 41Derivatives identified as hedges 19 - -Valued at fair value through other comprehensive income ³⁾: Derivatives identified as hedges 1,917 547 510Total financial liabilities 40,118 33,532 29,928¹⁾ Fair value18,299 14,771 13,241²⁾ Derivatives with positive values are recognised as assets and derivatives with negative values are recognised as liabilities. Derivatives with a legal right of offset amount to SEK 1,147 million.³⁾ The impact of credit risk on these instruments is considered low given the limits in the current investment policy.⁴⁾ Carrying amount, in Saab’s assessment, essentially corresponds to fair value.⁵⁾ Includes fair value hedge adjustment related to interest rate risk of SEK -20 million.MSEK 30 Sep 2026 Level 1 Level 2 Level 3 Bonds and interest-bearing securities17,418 17,418 - -Forward exchange contracts1,224 - 1,224 -Interest rate swaps179 - 179 -Electricity derivatives110 110 - -Shares and participations 9,213 - - 9,213Total28,144 17,528 1,403 9,213MSEK 30 Sep 2026 Level 1 Level 2 Level 3 Forward exchange contracts2,000 - 2,000 -Interest rate swaps19 - 19 -Cross currency basis swaps1 - 1 -Electricity derivatives47 47 - -Contingent consideration payable6 - - 6Total2,073 47 2,020 6
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2 7 IN T ER IM R EPO R T Q 3 2 0 2 6 Movements in the group’s Level 3 financial instruments were as follows: Note 11 Supplemental information on statement of cash flows Free cash flow Free cash flow vs. statement of cash flows Liquid assets MSEK Unlisted shares and participations Contingent consideration payable Opening balance, 1 January 20262,990 14Acquisitions and additional investments578 -Payments- -8Gains/losses recognised in the income statement 11 -Gains/losses recognised in other comprehensive income 5,634 -Foreign currency translation- 0Closing balance, 30 September 20269,213 6MSEKJan-Sep2026 Jan-Sep2025 Q3 2026 Q3 2025 Full year2025 Cash flow from operating activities before changes in working capital, excluding taxes and other financial items ¹⁾8,588 7,278 2,349 2,164 12,140Cash flow from changes in working capital:Contract assets and liabilities 8,077 -1,783 9,628 -1,149 3,800Inventories -3,024 -4,221 -850 -1,450 -3,811Other current receivables -276 3,187 -2,738 3,238 -3,725Other current liabilities 1,721 -166 620 -982 4,860Provisions -810 -383 -121 -101 -804Change in working capital 5,688 -3,366 6,539 -444 320Cash flow from operating activities excluding taxes and other financial items14,276 3,912 8,888 1,720 12,460Investing activities:Investments in intangible fixed assets -664 -930 -132 -232 -1,110Investments in tangible fixed assets -5,897 -4,021 -1,982 -1,366 -6,112Sales and disposals of tangible and intangible fixed assets including biological assets 25 31 11 20 35Cash flow from investing activities ²⁾ -6,536 -4,920 -2,103 -1,578 -7,187Operational cash flow 7,740 -1,008 6,785 142 5,273Taxes and other financial items -2,105 -812 -667 -199 -1,082Investments in and sale of financial assets, associated companies and joint ventures -591 -365 -471 -359 -464Investments in operations - -60 - -60 -60Sale of subsidiaries and other operations 9 - - - 539Free cash flow 5,053 -2,245 5,647 -476 4,2062) Cash flow from investing activities excluding change in short-term investments and other interest-bearing financial assets and excluding sale of and investment in financial assets, operations and subsidiaries. If investments in and sale of financial fixed assets are considered to be of operating nature, the item is included in investing activities.1) Including amortisation of lease liabilitiesJan-SepJan-SepQ3Q3Full YearMSEK20262025202620252025 Free cash flow 5,053 -2,245 5,647 -476 4,206Investing activities – interest-bearing:Short-term investments-1,350 2,591 -4,245 -675 -2,728Other financial investments and receivables-1,118 -1,755 -305 -413 -1,742Financing activities:Repayments of loans-1,227 -151 - - -173Raising of loans and increase in other interest-bearing liabilities4,184 2,007 3,584 2,007 2,600Dividend paid to the Parent Company’s shareholders-647 -537 - - -1,076Dividend paid to non-controlling interest-29 -23 - - -51Transactions with non-controlling interest- 53 - 3 73Cash flow for the period 4,866 -60 4,681 446 1,109MSEK 30 Sep 2026 31 Dec 2025 30 Sep 2025 The following components are included in liquid assets: Cash and bank balances2,254 2,015 1,480Bank deposits6,450 1,700 1,110Total according to balance sheet 8,704 3,715 2,590Total according to statement of cash flows8,704 3,715 2,590
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2 8 IN T ER IM R EPO R T Q 3 2 0 2 6 Note 12 Business combinations No acquisitions took place in the first nine months 2026. During the second quarter 2026, a future divestment of the Public Safety Solutions operations within business area Surveillance was announced. The divestment is expected to be completed during the fourth quarter 2026. The operations are presented separately in the statement of financial position as assets held for sale and liabilities related to assets held for sale. Note 13 Defined-benefit plans Saab has defined-benefit pension plans where post-employment compensation is based on a percentage of the recipient’s salary. Defined- benefit plans mainly relate to the Swedish operations, where the ITP2 plan accounts for more than 90 per cent of the total obligation. Pension obligation according to IAS 19 Actuarial gains and losses are recognised in other comprehensive income. The actuarial gain related to the Swedish pension plans amounted to SEK 539 million net in the first nine months 2026 due to the following: The assumed discount rate increased from 4.00 per cent to 4.30 per cent and the inflation assumption increased from 1.75 per cent to 1.90 per cent. These changes combined resulted in an actuarial gain of SEK 207 million. No experience adjustments were made in the first nine months. The return on assets under management was SEK 528 million which resulted in an actuarial gain of SEK 227 million. The actuarial gain related to the special employer’s contribution amounted to SEK 105 million. Note 14 Contingent liabilities No additional significant commitments have arisen during the first nine months 2026. With regard to the Group’s so-called performance guarantees for commitments to customers, the likelihood of an outflow of resources is estimated as remote and, as a result, no value is recognised. Note 15 Transactions with related parties During the third quarter 2026, Saab has entered a lease agreement on market terms with Vectura, an indirect wholly-owned subsidiary of Investor AB, regarding office premises in Jönköping, Sweden. The lease is expected to commence in the second quarter 2029. No other significant transactions with related parties have occurred during the first nine months 2026. Related parties with which the Group has transactions are described in note 36 in the Annual Report 2025. Note 16 Definitions Below are definitions of financial key ratios that are used in the report. For more information and explanations regarding the usage of these key ratios, please see www.saab.com/investors/financials/financial-data. Capital employed Total assets less non-interest-bearing liabilities. Cash conversion Operational cash flow divided by operating income (EBIT). Earnings per share Net income for the period attributable to the Parent Company’s shareholders, divided by the average number of shares before and after full dilution. EBITDA Operating income before depreciation/amortisation and write-downs. EBITDA adjusted for items affecting comparability Operating income before depreciation/amortisation and write-downs adjusted for items classified as affecting comparability. EBITDA margin Operating income before depreciation/amortisation and write-downs as a percentage of sales. EBITDA margin adjusted for items affecting comparability Operating income before depreciation/amortisation and write-downs adjusted for items affecting comparability as a percentage of adjusted sales. Effective tax rate Current and deferred taxes as a percentage of income before tax. Equity/assets ratio Equity in relation to total assets. Equity per share Equity attributable to the Parent Company’s shareholders divided by the number of shares, excluding treasury shares and shares repurchased through equity swaps, at the end of the period. Financial net related to pensions The financial net related to pensions is the financial cost for net pension obligations recognised in the balance sheet. Free cash flow Cash flow from operating activities including amortisation of lease liabilities and cash flow from investing activities, excluding acquisitions and divestments of short-term investments and other interest-bearing financial assets. Free cash flow per share Free cash flow divided by the average number of shares after dilution. Full Time Equivalent, FTE Refers to the number of full-time equivalent employees. Excludes long- term absentees and consultants but includes fixed term employees and part-time employees. Gross income adjusted for items affecting comparability Gross income adjusted for items classified as affecting comparability. Gross margin Gross income as a percentage of sales. Gross margin adjusted for items affecting comparability Gross income adjusted for items affecting comparability as a percentage of adjusted sales. Items affecting comparability Items affecting comparability comprise the financial effects from events or transactions with material impact that are relevant to understand the result when comparing periods. Such events or transactions can relate to restructuring programs, costs related to disputes and legal proceedings, macroeconomic developments, impairment charges and gains and losses from divestments of group companies, joint ventures or associated companies. Lease liability interest Lease liability interest consists of the interest portion related to lease liabilities recognised in the balance sheet. Net interest items Net interest items refer to interest on liquid assets, long- and short-term investments and interest expenses on short- and long-term interest- bearing liabilities and interest on interest-rate swaps. Net investments Investments, sales and disposals of intangible and tangible fixed assets. Net liquidity/net debt Liquid assets, short-term investments and interest-bearing receivables less interest-bearing liabilities and provisions for pensions excluding provisions for pensions attributable to special employers’ contribution. Net liquidity/net debt to EBITDA End of period Net liquidity/net debt divided by 12-month rolling reported EBITDA. Operating income Income before financial items and tax. MSEK30 Sep 2026 31 Dec 2025 30 Sep 2025 Defined-benefit obligation 10,833 10,876 10,780Special employers' contribution -97 40 12Less assets under management 11,137 10,609 10,624Total provisions (+) / receivables (-) for pensions -401 307 168 of which reported as long-term receivable 337 76 79 of which reported as short-term receivable 97 - - of which reported as long-term provision 33 383 247
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2 9 IN T ER IM R EPO R T Q 3 2 0 2 6 Operating income adjusted for items affecting comparability Operating income (EBIT) adjusted for items classified as affecting comparability. Operating margin Operating income (EBIT) as a percentage of sales. Operating margin adjusted for items affecting comparability Operating income adjusted for items affecting comparability as a percentage of adjusted sales. Operational cash flow Cash flow from operating activities, excluding taxes and other financial items, amortisation of lease liabilities and investments, sales and disposals of intangible and tangible fixed assets. Order backlog Total value of orders at the end of the period. Order bookings Total value of orders received during the period. Organic sales growth Change in sales in percentage adjusted for effects from exchange rate due to the translation of foreign subsidiaries, and structural changes such as acquisitions and divestments of subsidiaries. Other financial items Other financial items consist of realised and unrealised results from long- and short-term investments and derivatives as well as other currency effects, e.g. changes in exchange rates for liquid assets in currencies other than SEK. Research and development, R&D Research and development expenses are recognised separately in the income statement and comprise the cost of self-financed new and continued product development as well as amortisation and any write- down of capitalised development costs. Research and development expenditures comprise both expenses incurred as costs excluding amortisation and write-downs, and expenses capitalised as development costs in the statement of financial position. Total R&D expenses also include the part of Saab’s R&D that is conducted in cooperation with customers, which is reported as cost of goods sold. Return on capital employed Operating income plus financial income (rolling 12 months) as a percentage of average capital employed. Return on equity Net income for the period (rolling 12 months) as a percentage of average equity. Sales adjusted for items affecting comparability Sales adjusted for items classified as affecting comparability.
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3 0 IN T ER IM R EPO R T Q 3 2 0 2 6 Glossary AEW&CS Airborne Early Warning & Control System CDP Global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts C-UAS Counter-Unmanned Aerial Systems FMV Swedish Defence Materiel Administration, Sw, “Försvarets materielverk” FRN Floating Rate Note IAS International Accounting Standards IFRS International Financial Reporting Standards MTN Medium Term Note, loan facility for issuance of bonds with a duration of 1-15 years NSPA NATO Support and Procurement Agency NLAW Next Generation Light Anti-Tank Weapon SBTi Science Based Targets initiative UAV Unmanned Aerial Vehicle Stockholm 23 October 2026 Saab AB (publ) Micael Johansson President and CEO Auditor’s report To Saab AB (publ.) corporate identity number 556036-0793 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. Introduction We have conducted a limited review of the condensed interim financial information (interim report) for Saab 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 23 October 2026 Öhrlings PricewaterhouseCoopers AB Fredrik Göransson Authorised Public Accountant, Auditor in charge Camilla Samuelsson Authorised Public Accountant
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Important information This interim report may contain forward-looking statements which reflect Saab AB’s current view on future events and financial and operational development. Words such as “intend”, “expect”, “anticipate”, “may”, “believe”, “plan”, “estimate” and other expressions which imply indications or predictions of future development or trends, and which are not based on historical facts, are intended to identify forward-looking statements. Forward-looking statements inherently involve both known and unknown risks and uncertainties as they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the actual outcome could differ materially from the forward-looking statements. This information is such that Saab AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 23 October 2026 at 07.30 (CET). Contacts Johan Andersson, Head of Investor Relations +46 734 37 29 39 Adam Solberg, Investor Relations Manager +46 734 46 62 58 Webcast and telephone conference: 23 October 2026 at 10.00 (CET) Live webcast: www.saab.com/investors/webcast/q3-2026 Conference call: Registration for the conference call: www.saab.com/investors/conference-call-q3 The interim report, presentation material and the webcast will be available on www.saab.com/investors Calendar Year-end report 2026 Published 5 February 2027 Annual General Meeting To be held in Linköping, Sweden, on 7 April 2027 Q1 Interim report 2027 Published 23 April 2027 Q2 Interim report 2027 Published 20 July 2027 Q3 Interim report 2027 Published 26 October 2027