Interim report
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SVENSKA CELLULOSA AKTIEBOLAGET SCA (publ), Skepparplatsen 1, 851 88 SUNDSVALL. www.sca.com. Corp. Reg. No. 556012-6293 Interim report Q3 2026 January–September 2026 compared with January–September 2025 • Net sales declined 3% to SEK 15,141m (15,534). The lower net sales were mainly driven by lower selling prices and negative exchange rate effects, which were offset by higher delivery volumes. • EBITDA amounted to SEK 4,041m (5,328). The decrease was primarily attributable to lower selling prices, negative exchange rate effects and higher raw material costs. A high rate of self-sufficiency in wood raw material, fuel, energy and logistics remained key factors in mitigating the impact of higher costs. • EBITDA margin was 26.7% (34.3). • Operating profit decreased to SEK 2,314m (3,735). • Operating cash flow amounted to SEK 1,441m (2,549). • Earnings per share was SEK 2.38 (3.87). July–September 2026 compared with July–September 2025 • Net sales increased to SEK 5,248m (4,993). The increase was mainly related to higher delivery volumes, which were offset by lower selling prices and negative exchange rate effects. • EBITDA amounted to SEK 1,631m (1,644) and EBITDA margin was 31.1% (32.9). Lower selling prices and negative exchange rate effects were offset by lower cost of planned maintenance stops and higher delivery volumes. July–September 2026 compared with April–June 2026 • Net sales amounted to SEK 5,248m (5,153). The increase was primarily related to higher selling prices and positive exchange rate effects. • EBITDA increased to SEK 1,631m (1,303) and EBITDA margin was 31.1% (25.3). The increase was primarily related to higher selling prices, lower cost of planned maintenance stops, lower raw material costs for SCA’s industries and seasonally lower costs. KEY FIGURES Quarter Jan-Sep SEKm 2026:3 2025:3 % 2026:2 % 2026 2025 % Net sales 5,248 4,993 5 5,153 2 15,141 15,534 -3 EBITDA 1 1,631 1,644 -1 1,303 25 4,041 5,328 -24 EBITDA margin, % 1 31.1 32.9 25.3 26.7 34.3 Operating profit 1,047 1,112 -6 724 45 2,314 3,735 -38 Net Profit 772 832 -7 523 48 1,675 2,720 -38 Earnings per share SEK 2 1.10 1.19 0.74 2.38 3.87 Operating cash flow 1 426 1,111 446 1,441 2,549 Net Debt / EBITDA (LTM) 1 2.0x 1.7x 2.1x 2.0x 1.7x 1 See Note 10 for information on Alternative Performance Measures (APM). 2 There are no dilution effects.
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S C A I n t e r i m r e p o r t – J a n u a r y 1 – S e p t e m b e r 3 0 , 2 0 2 6 2 SVENSKA CELLULOSA AKTIEBOLAGET SCA (publ), Skepparplatsen 1, 851 88 SUNDSVALL. www.sca.com. Corp. Reg. No. 556012-6293 SUMMARY OF THE THIRD QUARTER OF 2026 SCA’s earnings in the third quarter were higher compared with the preceding quarter, and were in line with the year- earlier quarter. The earnings trend compared with the preceding quarter was primarily due to a stronger market for the Containerboard segment, lower raw material costs for the industrial segments, and seasonally lower costs, which were offset by seasonally lower harvesting from SCA-owned forest. Compared with the year-earlier quarter, the trend was primarily driven by lower selling prices and negative exchange rate effects, which were offset by lower cost of planned maintenance stops and higher delivery volumes. In a business environment that remains challenging, SCA has continued to focus on ongoing measures to control costs. SCA benefits from having built its business on an integrated value chain that ensures a cost-efficient supply of raw materials, fuel and energy in parallel with an effective distribution system. High fuel prices continued to have a negative impact on earnings in the Forest and industrial segments, but contributed to robust earnings in the Renewable Energy segment. The supply of wood raw material to SCA’s industries was stable in the quarter. The market for sawlogs and pulpwood was balanced. During the third quarter, SCA continued to process wind-felled volumes for forest owners in the areas affected by the storm at the end of last year. For solid wood products, selling prices declined slightly compared with the preceding quarter, primarily due to a higher proportion of wind-felled timber of lower quality. In Europe, the level of demand was normal for the season. Demand for spruce products remained higher than demand for pine products. Production of solid wood products in Sweden noted a decline in the first eight months of the year compared to the preceding year, while production in Finland was in line with the preceding year. SCA’s delivery volume was lower compared with the year-earlier quarter and the preceding quarter. Producer stocks in Sweden and Finland remained high for pine and normal for spruce but were overall lower year-on-year. Customer stocks are estimated to remain low. The market remained weak and average selling prices in the Pulp segment decreased slightly compared with the preceding quarter. In Europe, prices for NBSK pulp fell slightly in the third quarter. In China, prices fell at the beginning of the quarter, but subsequently increased. SCA’s delivery volumes were higher than in the preceding quarter and year-on-year. Good production, together with lower prices for raw materials, yielded lower costs. Global producer stocks were unchanged during the third quarter. Further price increases for kraftliner were implemented during the third quarter and SCA’s average selling prices increased compared with the preceding quarter. Demand for packaging paper continued to be positively impacted by stronger industrial production and by strong demand in e-commerce and consumables. Demand in Europe was robust during the third quarter. SCA’s delivery volume was higher compared with the year-earlier quarter, but lower compared with the preceding quarter. European producer stocks increased seasonally during the third quarter High fuel prices contributed to sustained strong earnings in the Renewable Energy segment. Demand for solid biofuels was robust for the season, driven by high energy prices in Europe. Electricity prices in northern Sweden remained stable compared with the preceding quarter but were slightly higher year-on-year. SCA’s leasehold business in wind power remained stable and, at the end of the quarter, about 20% (approx. 11 TWh) of installed wind power capacity in Sweden was on SCA’s land.
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S C A I n t e r i m r e p o r t – J a n u a r y 1 – S e p t e m b e r 3 0 , 2 0 2 6 3 SVENSKA CELLULOSA AKTIEBOLAGET SCA (publ), Skepparplatsen 1, 851 88 SUNDSVALL. www.sca.com. Corp. Reg. No. 556012-6293 Change in net sales (%) 2609 vs 2509 2026:3 vs 2025:3 2026:3 vs 2026:2 Total -3 5 2 Price/mix -4 -3 1 Volume 4 9 0 Currency -3 -1 1 GROUP SALES AND OPERATING PROFIT January–September 2026 compared with January–September 2025 Net sales amounted to SEK 15,141m (15,534), a decrease of 3%, of which price/mix accounted for -4%, currency -3% and volume 4%. EBITDA decreased to SEK 4,041m (5,328), corresponding to an EBITDA margin of 26.7% (34.3). The decrease was primarily attributable to lower selling prices, negative exchange rate effects and higher raw material costs. Good cost control due to the high rate of self-sufficiency in primarily wood raw material, but also liquid fuel, logistics and energy reduced the impact of increased costs. The cost of planned maintenance stops was SEK 270m (312). EBITDA before the change in value of biological assets decreased to SEK 2,781m (3,984). Operating profit decreased to SEK 2,314m (3,735). July–September 2026 compared with July–September 2025 Net sales amounted to SEK 5,248m (4,993), an increase of 5%, of which volume accounted for 9%, price/mix -3% and currency -1%. EBITDA amounted to SEK 1,631m (1,644), corresponding to an EBITDA margin of 31.1% (32.9). Lower selling prices and negative exchange rate effects were offset by higher delivery volumes and lower cost of planned maintenance stops of SEK 103m (287). EBITDA before the change in value of biological assets amounted to SEK 1,218m (1,193). Operating profit was SEK 1,047m (1,112). July–September 2026 compared with April–June 2026 Net sales amounted to SEK 5,248m (5,153), an increase of 2%, of which price/mix accounted for 1%, currency 1% and volume 0%. EBITDA increased to SEK 1,631m (1,303), corresponding to an EBITDA margin of 31.1% (25.3). The increase was primarily related to higher selling prices, lower cost of planned maintenance stops of SEK 103m (167), lower raw material costs for SCA’s industries, seasonally lower costs, refund of tariffs paid of SEK 42m (0) and positive exchange rate effects, which were partly offset by a seasonably lower share of harvesting from SCA-owned forest. EBITDA before the change in value of biological assets increased to SEK 1,218m (883). Operating profit was SEK 1,047m (724). CASH FLOW January–September 2026 compared with January–September 2025 EBITDA amounted to SEK 4,041m (5,328), and the change in value of biological assets, the result from associated companies and joint ventures, and other non-cash items amounted to SEK -1,474m (-1,339), resulting in an operating cash surplus of SEK 2,567m (3,989). The cash flow effect of changes in working capital was SEK -67m (-840). Current capital expenditures, net, totaled SEK -830m (-885). Other operating cash flow was SEK -229m (285), mainly consisting of currency hedges related to working capital, but also dividends from associated companies and joint ventures. Operating cash flow amounted to SEK 1,441m (2,549) (refer to Note 10). Strategic capital expenditures totaled SEK -312m (-1,106) and tax received/paid amounted to SEK 30m (-216) for the period. See page 13. FINANCING January–September 2026 At September 30, 2026, net debt totaled SEK 10,627m, a decrease of SEK 312m since year-end. Cash flow from current operations and the rising value of pension plan assets were offset by paid dividends and strategic investments. Net debt in relation to EBITDA amounted to 2.0x, an increase of 0.3 since year-end. The debt/equity ratio amounted to 10.4% compared with 10.8% at year-end. 0 1,000 2,000 3,000 4,000 5,000 6,000 2025:3 2025:4 2026:1 2026:2 2026:3 Net sales SEKm 0 10 20 30 40 0 500 1,000 1,500 2,000 2025:3 2025:4 2026:1 2026:2 2026:3 EBITDA & margin SEKm % 0 200 400 600 800 1,000 1,200 2025:3 2025:4 2026:1 2026:2 2026:3 Operating cashflow SEKm 0 3 6 9 12 15 18 0 20,000 40,000 60,000 80,000 100,000 120,000 2022:4 2023:4 2024:4 2025:4 2026:3 % Equity and net debt/equity ratioSEKm
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S C A I n t e r i m r e p o r t – J a n u a r y 1 – S e p t e m b e r 3 0 , 2 0 2 6 4 SVENSKA CELLULOSA AKTIEBOLAGET SCA (publ), Skepparplatsen 1, 851 88 SUNDSVALL. www.sca.com. Corp. Reg. No. 556012-6293 At September 30, 2026, gross debt totaled SEK 15,421m, an increase of SEK 484m since year-end, with an average maturity of 3.3 years (including the lease liability). The loan structure consists of bilateral bank loans and bonds. Cash amounted to SEK 144m and unutilized credit facilities amounted to SEK 6,000m at September 30, 2026 and mature in 2030. In the first three quarters of 2026, financial items totaled SEK -278m compared with SEK -331m in the year-earlier period. EQUITY January–September 2026 Equity increased by SEK 210m during the period, to SEK 101,731m at September 30, 2026. Equity increased due to comprehensive income for the period of SEK 2,319m, and decreased due to the dividend of SEK 2,107m. Other items decreased equity by SEK 2m. TAX January–September 2026 compared with January–September 2025 The Group’s tax expense amounted to SEK 361m (684), corresponding to an effective tax rate of 17.8% (20.1). CURRENCY EXPOSURE AND CURRENCY HEDGING Due to a high proportion of exports, SCA’s operations are sensitive to currency fluctuations. About 85% of sales are priced in currencies other than SEK, primarily USD, EUR and GBP. Most purchasing is conducted in SEK, while some purchasing is carried out in foreign currencies. To mitigate the effects of a weaker SEK, balance sheet items in foreign currency are hedged, as well as major decided and contracted expenses in foreign currency for investments in non-current assets. Added to this, a share of future net flows in the main currencies is hedged and, in some cases, for special order flows. At September 30, 2026, the company had hedged roughly the following shares of the expected net exposure from sales minus purchases. Share of expected net exposure, % Currency Average rate 2026:4 2027:1 2027:2 2027:3 USD 9.34 75 70 50 25 EUR 10.93 70 70 50 25 PLANNED MAINTENANCE STOPS In the third quarter, planned maintenance stops began at both the Munksund paper mill (Containerboard segment) and the Östrand pulp mill (Pulp segment). The estimated effect of the planned maintenance stops on earnings, calculated as the sum of the direct cost of the maintenance and lower fixed cost coverage from reduced capacity utilization during the stops, is shown in the table below. Actual SEKm 2025:1 2025:2 2025:3 2025:4 Total Pulp 0 25 83 198 306 Containerboard 0 0 204 0 204 Total 0 25 287 198 510 Actual Forecast SEKm 2026:1 2026:2 2026:3 2026:4 Total Pulp 0 20 52 180 252 Containerboard 0 147 51 55 253 Total 0 167 103 235 505
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S C A I n t e r i m r e p o r t – J a n u a r y 1 – S e p t e m b e r 3 0 , 2 0 2 6 5 SVENSKA CELLULOSA AKTIEBOLAGET SCA (publ), Skepparplatsen 1, 851 88 SUNDSVALL. www.sca.com. Corp. Reg. No. 556012-6293 * share calculated of total EBITDA excluding central costs FOREST SCA is Europe’s largest private forest owner with a holding of 2.7 million hectares of forest land in Northern Sweden and the Baltic region. SCA’s unique forest holding is a growing resource that provides access to high- quality forest raw materials. Quarter Jan-Sep SEKm 2026:3 2025:3 % 2026:2 % 2026 2025 % Net sales 2,363 2,390 -1 2,480 -5 7,390 7,418 0 EBITDA before change in value of biological assets 289 461 -37 446 -35 1,192 1,517 -21 Change in value of biological assets 413 451 -8 420 -2 1,260 1,344 -6 EBITDA 702 912 -23 866 -19 2,452 2,861 -14 Depreciation and amortization -69 -71 -3 -68 1 -204 -199 3 Operating profit 633 841 -25 798 -21 2,248 2,662 -16 EBITDA margin, % 29.7 38.2 34.9 33.2 38.6 Operating margin, % 26.8 35.2 32.2 30.4 35.9 Return on capital employed, % 3.0 3.8 3.7 3.6 4.0 Harvesting of own forest, thousand m3 sub in Sweden and the Baltic region 1,243 1,277 -3 1,604 -23 3,832 4,075 -6 The Forest segment includes net sales from timber sourced from SCA’s own forests, and from timber purchased from other forest owners, which is sold internally to SCA’s industrial operations. The pricing is based on an average of SCA’s externally sourc ed timber prices. Revaluation of forest assets The value of SCA’s total forest assets is based on the market price of forest transactions in the areas where SCA owns forests applied to SCA’s standing volume. To determine the change in value of biological assets, a valuation model is used based on discounted cash flows. See Note 4. January–September 2026 compared with January–September 2025 Net sales were in line with the year-earlier period and amounted to SEK 7,390m (7,418). Lower delivery volumes to SCA’s sawmills and lower selling prices for pulpwood were offset by higher selling prices for sawlogs. EBITDA declined 14% to SEK 2,452m (2,861). The decrease was primarily attributable to higher fuel costs and a lower share of harvesting from SCA-owned forest. EBITDA before the change in value of biological assets amounted to SEK 1,192m (1,517). July–September 2026 compared with July–September 2025 Net sales declined 1% to SEK 2,363m (2,390). The decrease was mainly related to lower selling prices for pulpwood, which were offset by higher delivery volumes to SCA’s industries. EBITDA declined 23% to SEK 702m (912). The decline was mainly attributable to lower selling prices for pulpwood and higher fuel costs. EBITDA before the change in value of biological assets amounted to SEK 289m (461). July–September 2026 compared with April–June 2026 Net sales declined 5% to SEK 2,363m (2,480). The decline was mainly attributable to lower selling prices for sawlogs and pulpwood. EBITDA declined 19% to SEK 702m (866). The decrease was primarily attributable to lower selling prices and seasonally lower share of harvesting from SCA-owned forest. EBITDA before the change in value of biological assets amounted to SEK 289m (446). 56% Share of EBITDA Jan-Sep 2026* 0 500 1,000 1,500 2,000 2,500 3,000 2025:3 2025:4 2026:1 2026:2 2026:3 Net sales SEKm 0 10 20 30 40 50 0 200 400 600 800 1,000 2025:3 2025:4 2026:1 2026:2 2026:3 EBITDA & margin %SEKm
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S C A I n t e r i m r e p o r t – J a n u a r y 1 – S e p t e m b e r 3 0 , 2 0 2 6 6 SVENSKA CELLULOSA AKTIEBOLAGET SCA (publ), Skepparplatsen 1, 851 88 SUNDSVALL. www.sca.com. Corp. Reg. No. 556012-6293 * share calculated of total EBITDA excluding central costs WOOD SCA is one of Europe’s leading suppliers of wood-based products for the wood industry and building materials trade, with an annual production capacity of 2.2 m3 of solid wood products. SCA has five cost-efficient sawmills located close to its forest holdings in Northern Sweden, as well as wood processing and distribution to the building materials trade in Scandinavia and France. Quarter Jan-Sep SEKm 2026:3 2025:3 % 2026:2 % 2026 2025 % Net sales 1,446 1,544 -6 1,524 -5 4,273 4,775 -11 EBITDA 117 232 -50 89 31 255 778 -67 Depreciation and amortization -74 -73 1 -72 3 -218 -217 0 Operating profit 43 159 -73 17 153 37 561 -93 EBITDA margin, % 8.1 15.0 5.8 6.0 16.3 Operating margin, % 3.0 10.3 1.1 0.9 11.7 Return on capital employed, % 5.1 17.4 1.9 1.2 19.6 Deliveries, wood products, thousand m3 489 532 -8 500 -2 1,440 1,624 -11 January–September 2026 compared with January–September 2025 Net sales declined 11% to SEK 4,273m (4,775). The change was primarily attributable to lower delivery volumes. EBITDA declined 67% to SEK 255m (778). The decrease was mainly attributable to higher raw material costs, lower delivery volumes and negative exchange rate effects, which were offset by slightly higher selling prices. July–September 2026 compared with July–September 2025 Net sales declined 6% to SEK 1,446m (1,544). The decrease was primarily attributable to lower delivery volumes. EBITDA declined 50% to SEK 117m (232). The decrease was mainly attributable to higher raw material costs, lower delivery volumes and higher distribution costs, which were offset by slightly higher selling prices. July–September 2026 compared with April–June 2026 Net sales declined 5% to SEK 1,446m (1,524). The decrease was primarily attributable to lower delivery volumes and slightly lower selling prices. EBITDA increased 31% to SEK 117m (89). The increase mainly relates to lower raw material costs, which was partly offset by slightly lower selling prices. 6% Share of EBITDA Jan-Sep 2026* 0 200 400 600 800 1,000 1,200 1,400 1,600 2025:3 2025:4 2026:1 2026:2 2026:3 Net sales SEKm 0 5 10 15 20 0 100 200 300 400 2025:3 2025:4 2026:1 2026:2 2026:3 EBITDA & margin %SEKm
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S C A I n t e r i m r e p o r t – J a n u a r y 1 – S e p t e m b e r 3 0 , 2 0 2 6 7 SVENSKA CELLULOSA AKTIEBOLAGET SCA (publ), Skepparplatsen 1, 851 88 SUNDSVALL. www.sca.com. Corp. Reg. No. 556012-6293 * share calculated of total EBITDA excluding central costs PULP SCA produces Northern bleached softwood kraft pulp (NBSK) at Östrand pulp mill and chemi-thermomechanical pulp (CTMP) at the Ortviken site in Sundsvall with a total capacity of more than 1 million tonnes per year, which is expected to increase to 1.2 million tonnes. The Östrand pulp mill is one of the largest and most cost-efficient production lines for NBSK in the world and is also a net producer of green electricity and produces biochemicals such as tall oil and turpentine. Quarter Jan-Sep SEKm 2026:3 2025:3 % 2026:2 % 2026 2025 % Net sales 1,764 1,651 7 1,735 2 5,122 5,385 -5 EBITDA 198 242 -18 107 85 345 823 -58 Depreciation and amortization -184 -164 12 -182 1 -538 -502 7 Operating profit 14 78 -82 -75 0 -193 321 0 EBITDA margin, % 11.2 14.6 6.2 6.7 15.3 Operating margin, % 0.8 4.7 -4.3 -3.8 5.9 Return on capital employed, % 0.6 3.3 -3.5 -4.9 4.6 Deliveries, pulp, thousand tonnes 280 223 26 268 4 804 722 11 January–September 2026 compared with January–September 2025 Net sales declined 5% to SEK 5,122m (5,385), mainly driven by lower selling prices and negative exchange rate effects, which were offset by higher delivery volumes. EBITDA decreased to SEK 345m (823). The EBITDA margin was 6.7% (15.3). Lower selling prices and negative exchange rate effects had a negative impact on earnings, which were partly offset by lower raw material costs and higher delivery volumes. The cost of planned maintenance stops was SEK 72m (108). July–September 2026 compared with July–September 2025 Net sales increased 7% to SEK 1,764m (1,651). The increase was attributable to higher delivery volumes, which were partly offset by lower selling prices. EBITDA decreased to SEK 198m (242). The decrease was primarily attributable to lower selling prices, which were partially offset by lower raw material costs and higher delivery volumes. The cost of planned maintenance stops was SEK 52m (83). July–September 2026 compared with April–June 2026 Net sales increased 2% to SEK 1,764m (1,735). The increase was attributable to higher delivery volumes, which were offset by lower selling prices. EBITDA increased to SEK 198m (107). The increase was primarily attributable to lower raw material costs, higher delivery volumes, lower distribution costs, refund of U.S. tariffs paid of SEK 15m (0) and an improved net energy impact, which were partly offset by lower selling prices. The cost of planned maintenance stops was SEK 52m (20). 8% Share of EBITDA Jan-Sep 2026* 0 500 1,000 1,500 2,000 2025:3 2025:4 2026:1 2026:2 2026:3 Net sales SEKm -10 0 10 20 30 -100 0 100 200 300 2025:3 2025:4 2026:1 2026:2 2026:3 EBITDA & margin %SEKm
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S C A I n t e r i m r e p o r t – J a n u a r y 1 – S e p t e m b e r 3 0 , 2 0 2 6 8 SVENSKA CELLULOSA AKTIEBOLAGET SCA (publ), Skepparplatsen 1, 851 88 SUNDSVALL. www.sca.com. Corp. Reg. No. 556012-6293 * share calculated of total EBITDA excluding central costs CONTAINERBOARD SCA produces kraftliner, renewable packaging paper, at the paper mills in Munksund and Obbola. SCA is Europe’s largest independent producer of kraftliner, with a total capacity of more than 865,000 tonnes per year, which is expected to increase to 1,140,000 tonnes. Quarter Jan-Sep SEKm 2026:3 2025:3 % 2026:2 % 2026 2025 % Net sales 1,973 1,755 12 1,828 8 5,536 5,248 5 EBITDA 446 194 130 135 230 685 884 -23 Depreciation and amortization -207 -198 5 -207 0 -618 -594 4 Operating profit 239 -4 -72 67 290 -77 EBITDA margin, % 22.6 11.0 7.4 12.4 16.8 Operating margin, % 12.1 -0.2 -3.9 1.2 5.5 Return on capital employed, % 9.4 -0.2 -2.8 0.9 3.1 Deliveries, kraftliner, thousand tonnes 250 230 9 254 -2 762 702 9 January–September 2026 compared with January–September 2025 Net sales increased 5% to SEK 5,536m (5,248). Higher delivery volumes had a positive impact on net sales, which were offset by negative exchange rate effects. EBITDA declined 23% to SEK 685m (884). The decrease was primarily attributable to negative exchange rate effects and higher energy and distribution costs, which were offset by lower raw material costs and higher delivery volumes. The cost of planned maintenance stops was SEK 198m (204). July–September 2026 compared with July–September 2025 Net sales increased 12% to SEK 1,973m (1,755). The increase was primarily attributable to higher delivery volumes and higher selling prices. EBITDA increased 130% to SEK 446m (194). The increase was mainly due to a lower cost of planned maintenance stops of SEK 51m (204), higher selling prices and lower raw material costs, which were partly offset by negative exchange rate effects. July–September 2026 compared with April–June 2026 Net sales increased 8% to SEK 1,973m (1,828), mainly driven by higher selling prices. EBITDA increased 230% to SEK 446m (135). The increase was mainly due to higher selling prices, a lower cost of planned maintenance stops of SEK 51m (147), seasonally lower costs and refund of tariffs paid of SEK 27m (0). 16% Share of EBITDA Jan-Sep 2026* 0 500 1,000 1,500 2,000 2025:3 2025:4 2026:1 2026:2 2026:3 Net sales SEKm 0 10 20 30 40 50 0 100 200 300 400 500 2025:3 2025:4 2026:1 2026:2 2026:3 EBITDA & margin %SEKm
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S C A I n t e r i m r e p o r t – J a n u a r y 1 – S e p t e m b e r 3 0 , 2 0 2 6 9 SVENSKA CELLULOSA AKTIEBOLAGET SCA (publ), Skepparplatsen 1, 851 88 SUNDSVALL. www.sca.com. Corp. Reg. No. 556012-6293 * share calculated of total EBITDA excluding central costs RENEWABLE ENERGY SCA produces tall oil, green electricity, refined and unrefined solid biofuels and liquid biofuels. SCA is one of Europe’s largest producers of bioenergy, with annual production of about 11 TWh. SCA’s industries and wind farms produce green electricity corresponding to approximately 1% of Swedish electricity consumption. SCA leases out land for the production of wind power and develops wind power projects on its own land, for sale and for the growth of the leasehold business. Quarter Jan-Sep SEKm 2026:3 2025:3 % 2026:2 % 2026 2025 % Revenue1 478 377 27 519 -8 1,659 1,474 13 EBITDA 201 79 154 217 -7 624 300 108 Depreciation and amortization -42 -18 133 -42 0 -125 -54 131 Operating profit 159 61 161 175 -9 499 246 103 EBITDA margin, %2 42.1 21.0 41.8 37.6 20.4 Operating margin, %2 33.3 16.1 33.7 30.1 16.8 Return on capital employed, % 18.1 7.4 20.4 18.0 11.0 Deliveries, renewable electricity from own wind production, GWh 60 12 400 71 -15 213 78 173 Deliveries, bioenergy, GWh 677 596 14 668 1 2,581 2,354 10 Deliveries, tall oil, thousand tonnes 12 12 3 15 -19 41 37 10 1 Revenue consists of net sales and other operating income 2 EBITDA and operating profit as share of revenue 12BJanuary–September 2026 compared with January–September 2025 Revenue increased 13% to SEK 1,659m (1,474). The increase was primarily driven by higher delivery volumes. EBITDA increased 108% to SEK 624m (300). The EBITDA margin was 37.6% (20.4). The increase was related to higher earnings primarily in the liquid biofuels business, but also in the wind power and bioenergy business. July–September 2026 compared with July–September 2025 Revenue increased 27% to SEK 478m (377). The increase was primarily attributable to higher delivery volumes in the bioenergy and wind power business, and higher prices for the tall oil business. EBITDA increased 154% to SEK 201m (79). The increase was mainly related to higher earnings in the liquid biofuels business, but also in the bioenergy and wind power business. July–September 2026 compared with April–June 2026 Revenue decreased 8% to SEK 478m (519). The decrease was primarily related to lower delivery volumes of tall oil. EBITDA declined 7% to SEK 201m (217). The decrease was mainly related to slightly lower earnings in the bioenergy and wind power business, which were partly offset by slightly higher earnings in the liquid biofuels business. 14% Share of EBITDA Jan-Sep 2026* 0 100 200 300 400 500 600 700 2025:3 2025:4 2026:1 2026:2 2026:3 Revenue SEKm 0 10 20 30 40 50 0 50 100 150 200 250 2025:3 2025:4 2026:1 2026:2 2026:3 EBITDA & margin %SEKm
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S C A I n t e r i m r e p o r t – J a n u a r y 1 – S e p t e m b e r 3 0 , 2 0 2 6 10 SVENSKA CELLULOSA AKTIEBOLAGET SCA (publ), Skepparplatsen 1, 851 88 SUNDSVALL. www.sca.com. Corp. Reg. No. 556012-6293 FINANCIAL STATEMENTS CONDENSED CONSOLIDATED INCOME STATEMENT Quarter Jan-Sep SEKm 2026:3 2025:3 % 2026:2 % 2026 2025 % Net sales 5 248 4 993 5 5 153 2 15 141 15 534 -3 Other operating income 799 594 35 852 -6 2 623 2 164 21 Change in inventories -187 -96 95 91 -190 129 Raw materials and consumables -1 319 -1 162 14 -1 501 -12 -4 460 -4 207 6 Personnel costs -641 -648 -1 -795 -19 -2 159 -2 126 2 Other operating expenses -2 764 -2 481 11 -2 987 -7 -8 367 -7 495 12 Result from associated companies and JV 82 -7 70 17 193 -15 EBITDA before change in value of biological assets 1 218 1 193 2 883 38 2 781 3 984 -30 Change in value of biological assets 413 451 -8 420 -2 1 260 1 344 -6 EBITDA 1 631 1 644 -1 1 303 25 4 041 5 328 -24 Depreciation, amortization and impairment -584 -532 10 -579 1 -1 727 -1 593 8 Operating profit 1 047 1 112 -6 724 45 2 314 3 735 -38 Financial items -102 -103 -90 -278 -331 Profit before tax 945 1 009 -6 634 49 2 036 3 404 -40 Income tax -173 -177 -111 -361 -684 Net Profit for the period 772 832 -7 523 48 1 675 2 720 -38 Earnings attributable to: Owners of the parent 772 832 523 1 675 2 720 Non-controlling interests 0 0 0 0 0 Earnings per share SEK - owners of the parent1 1,10 1,19 0,74 2,38 3,87 Margins, % EBITDA margin 31,1 32,9 25,3 26,7 34,3 Operating margin 20,0 22,3 14,0 15,3 24,0 Net margin 14,7 16,7 10,1 11,1 17,5 1 There are no dilution effects. See note 8 for further information
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S C A I n t e r i m r e p o r t – J a n u a r y 1 – S e p t e m b e r 3 0 , 2 0 2 6 11 SVENSKA CELLULOSA AKTIEBOLAGET SCA (publ), Skepparplatsen 1, 851 88 SUNDSVALL. www.sca.com. Corp. Reg. No. 556012-6293 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Quarter Jan-Sep SEKm 2026:3 2025:3 2026:2 2026 2025 Profit for the period 772 832 523 1,675 2,720 Other comprehensive income for the period: Items that may not be reclassified to the income statement Change in value land assets -379 -179 -134 -656 -611 Revaluation of defined benefit pension plans 36 376 847 1,557 275 Income tax attributable to components of other comprehensive income 65 -60 -144 -188 58 Total -278 137 569 713 -278 Items that have been or may be reclassified subsequently to the income statement Cash flow hedges -27 -64 -97 -280 258 Hedge cost - -1 - - -12 Translation differences in foreign operations 69 -27 46 153 -137 Income tax attributable to components of other comprehensive income 6 14 20 58 -41 Total 48 -78 -31 -69 68 Other comprehensive income for the period, net of tax -230 59 538 644 -210 Total comprehensive income for the period 542 891 1,061 2,319 2,510 Total comprehensive income attributable to: Owners of the parent 542 891 1,061 2,319 2,510 Non-controlling interests 0 0 0 0 0 CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Jan-Sep SEKm 2026 2025 Attributable to owners of the parent Value, beginning of the period 101,504 104,035 Total comprehensive income for the period 2,319 2,510 Cash flow hedge transferred to cost of hedged investments -2 40 Tax on cash flow hedge transferred to cost of hedged investments 0 -8 Transactions with owners Cash dividend -2,107 -2,107 Value, end of the period 101,714 104,470 Non-controlling interests Value, beginning of the period 17 - Total comprehensive income for the period 0 0 Capital contribution from non-controlling interest - 15 Value, end of the period 17 15 Total equity, value end of period 101,731 104,485
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S C A I n t e r i m r e p o r t – J a n u a r y 1 – S e p t e m b e r 3 0 , 2 0 2 6 12 SVENSKA CELLULOSA AKTIEBOLAGET SCA (publ), Skepparplatsen 1, 851 88 SUNDSVALL. www.sca.com. Corp. Reg. No. 556012-6293 CONDENSED CONSOLIDATED BALANCE SHEET SEKm Sep 30, 2026 Dec 31, 2025 ASSETS Non-current assets Intangible assets 1,315 1,301 Buildings, land, machinery and equipment 24,077 24,935 Forest assets 104,694 103,766 of which land assets 40,941 41,536 of which biological assets 63,753 62,230 Right-of-use assets 380 459 Other non-current assets 5,968 4,545 Total non-current assets 136,434 135,006 Current assets Inventories 6,257 6,555 Trade receivables 4,022 3,196 Other current receivables 1,059 1,110 Cash and cash equivalents 144 590 Total current assets 11,482 11,451 Total assets 147,916 146,457 EQUITY AND LIABILITIES Equity Owners of the Parent Share capital 2,350 2,350 Share premium 6,830 6,830 Reserves 30,553 31,147 Retained earnings including net profit for the period 61,981 61,177 Non-controlling interests 17 17 Total equity 101,731 101,521 Non-current liabilities Non-current financial liabilities 11,426 12,620 Provisions for pensions 35 300 Deferred tax liabilities 24,482 24,115 Other non-current liabilities and other provisions 71 57 Total non-current liabilities 36,014 37,092 Current liabilities Current financial liabilities 3,960 2,017 Trade payables 4,298 4,580 Other current liabilities and other provisions 1,913 1,247 Total current liabilities 10,171 7,844 Total liabilities 46,185 44,936 Total equity and liabilities 147,916 146,457
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S C A I n t e r i m r e p o r t – J a n u a r y 1 – S e p t e m b e r 3 0 , 2 0 2 6 13 SVENSKA CELLULOSA AKTIEBOLAGET SCA (publ), Skepparplatsen 1, 851 88 SUNDSVALL. www.sca.com. Corp. Reg. No. 556012-6293 CONSOLIDATED CASH FLOW STATEMENT Jan-Sep SEKm 2026 2025 Operating activities Profit before tax 2,036 3,404 of which received interest 2 5 of which paid interest -335 -324 Adjustment for non-cash items 1 429 262 Change in liabilities regarding restructuring costs - -11 Paid/received tax 30 -216 Cash flow from operating activities before changes in working capital 2,495 3,439 Cash flow from changes in working capital Change in inventories 283 -282 Change in operating receivables -931 -287 Change in operating liabilities 126 145 Cash flow from operating activities 1,973 3,015 Investing activities Business and asset acquisitions - 0 Dividends from associated companies and JV 75 - Current capital expenditures in intangible and tangible assets -1,187 -1,033 Sale of tangible assets 413 210 Strategic capital expenditures in intangible and tangible assets -312 -1,106 Acquisition and disposal of financial asset 0 -10 Cash flow from investing activities -1,011 -1,939 Financing activities Loans raised 1,454 3,403 Amortization of debt -601 -2,902 Amortization of lease liabilities -157 -167 Dividend -2,107 -2,107 Cash flow from financing activities -1,411 -1,773 Net cash flow for the period -449 -697 Cash and cash equivalents at the beginning of the period 590 1,328 Translation differences in cash and cash equivalents 3 -5 Cash and cash equivalents at the end of the period 144 626 1 Depreciation/amortization and impairment of non-current assets 1,727 1,593 Fair-value measurement of biological assets -1,260 -1,344 Gains/loss on assets sales and swaps of assets -214 64 Unrealized result on hedged items 225 -143 Accrued interest 14 -9 Other -63 101 Total 429 262
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S C A I n t e r i m r e p o r t – J a n u a r y 1 – S e p t e m b e r 3 0 , 2 0 2 6 14 SVENSKA CELLULOSA AKTIEBOLAGET SCA (publ), Skepparplatsen 1, 851 88 SUNDSVALL. www.sca.com. Corp. Reg. No. 556012-6293 NOTES 1. ACCOUNTING PRINCIPLES This interim report has been prepared in accordance with IAS 34 and recommendation RFR 1 of the Swedish Corporate Reporting Board and RFR 2 for the Parent Company. Applied accounting principles are described in detail in SCA’s Annual Report for 2025. New or revised IFRSs and interpretations from IFRIC have not had and are not expected to have any material effect on the Group’s or the Parent Company’s financial statements, with the exception of IFRS 18, which becomes effective 1st of January 2027. The standard will primarily affect the presentation of the income statement, with income and expenses classified into the new operating, investing and financing categories, as well as new subtotals being introduced. For SCA, the implementation will result in certain reclassifications within the consolidated income statement. The standard will also affect the starting point and the classification of interest in the consolidated cash flow statement. IFRS 18 also introduces additional disclosure requirements relating to Management-defined Performance Measures (MPMs). SCA continues to evaluate the impact of the new standard. 2. RISKS AND UNCERTAINTIES SCA’s risk exposure and risk management are described on pages 75–83 of SCA’s 2025 Annual Report. Tariffs, trade barriers and geopolitical turmoil are creating uncertainty and risk affecting market conditions going forward. 3. REVENUE FROM CONTRACTS WITH CUSTOMERS Net sales by land/area and segment Jan-Sep 2026 SEKm Forest Wood Pulp Containerboard Renewable Energy Eliminations Total Sweden 7,256 1,436 695 337 76 -7,256 2,544 Germany - 54 410 1,048 - 1,512 USA - 238 850 275 - 1,363 United Kingdom - 329 173 788 - 1,290 Rest of Europe 134 1,321 1,646 2,433 - 5,534 Asia - 564 1,037 97 - 1,698 Rest of world - 331 311 558 - 1,200 Total Group 7,390 4,273 5,122 5,536 76 -7,256 15,141 Jan-Sep 2025 SEKm Forest Wood Pulp Containerboard Renewable Energy Eliminations Total Sweden 7,300 1,662 801 372 5 -7,297 2,843 Germany - 55 414 1,138 - 1,607 USA - 256 1,042 226 - 1,524 United Kingdom - 435 210 818 - 1,463 Rest of Europe 118 1,205 1,966 2,266 - 5,555 Asia - 742 758 92 - 1,592 Rest of world - 420 194 336 - 950 Total Group 7,418 4,775 5,385 5,248 5 -7,297 15,534 4. FOREST VALUATION Accounting principles The accounting principles for forest assets are described in Note D3 of SCA’s Annual Report for 2025. Key assessments and assumptions SCA bases its valuation of forest assets on forest transactions in the areas where SCA owns forest. The market prices assessed by SCA comprise an average based on forest transactions over the last three years. The estimated market price is applied to SCA’s standing timber. The three-year average market price used in valuation of SCA’s forest assets at December 31, 2025 was SEK 372/m3fo for the Swedish holdings and EUR 44/m3fo for the Baltic holdings. The three-year average market price is normally updated at year-end. At December 31, 2025, the total standing timber volume was estimated at approximately 277 million m³fo, of which 8 million m³fo is in the Baltic region. At December 31, 2025, the total value of SCA’s forest assets amounted to SEK 103.8bn, of which SEK 99.8bn related to Sweden and SEK 3.9bn related to the Baltic region. At December 31, 2026, the total standing volume is estimated to amount to approximately 279 million m³fo, of which about 8 million m³fo in the Baltic region. The estimated change in value driven by the growth of standing timber volume is accrued over the course of the year. At September 30, 2026, approximately three-quarters of the expected annual increase in value was recognized. On the same date, the total value of SCA’s forest assets amounted to SEK 104.7bn, of which SEK 100.5bn related to Sweden and SEK 4.2bn related to the Baltic region. The increase in the Baltic region was primarily related to positive currency translation effects. In accounting terms, forest assets comprise biological assets, meaning the trees currently standing in the forest, and land assets. A valuation model is used based on discounted cash flows to determine the change in value of biological assets, with the value mainly impacted by timber prices, harvesting costs, harvested volume and the discount rate.
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S C A I n t e r i m r e p o r t – J a n u a r y 1 – S e p t e m b e r 3 0 , 2 0 2 6 15 SVENSKA CELLULOSA AKTIEBOLAGET SCA (publ), Skepparplatsen 1, 851 88 SUNDSVALL. www.sca.com. Corp. Reg. No. 556012-6293 The change in value of biological assets was SEK 1,260m (1,344) at September 30, 2026 and is recognized in the income statement on the line item “Change in value of biological assets”. The value of land assets is calculated as the total value of forest assets based on forest transactions less the value of the biological assets. The change in value pertaining to land amounted to SEK -656m (-611) and is recognized as other comprehensive income with no effect on profit for the period. Other items, including investments and exchange rate effects, amounted to SEK 324m (-67), of which SEK 263m (35) related to biological assets and SEK 61m (-102) to land assets. Forest assets SEKm Sep 30, 2026 Dec 31, 2025 Forest assets in Sweden 100,536 99,829 Forest assets in the Baltic states 4,158 3,937 Totalt value of forest assets 104,694 103,766 of which land assets 40,941 41,536 of which biological assets 63,753 62,230 Deferred tax on forest assets 20,653 20,467 5. OTHER PROVISIONS Accounting principles The accounting principles for other provisions are described in detail in Note D8 of SCA’s 2025 Annual Report. SEKm Environment Other Total Value January 1, 2026 125 5 130 Provisions 36 5 41 Utilization -68 -1 -69 Value September 30, 2026 93 9 102 Provisions comprise: Long-term component 65 Short-term component 37 6. RELATED PARTY TRANSACTIONS During the period, no transactions took place between SCA and related parties with any material impact on the company’s financial position or results.
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S C A I n t e r i m r e p o r t – J a n u a r y 1 – S e p t e m b e r 3 0 , 2 0 2 6 16 SVENSKA CELLULOSA AKTIEBOLAGET SCA (publ), Skepparplatsen 1, 851 88 SUNDSVALL. www.sca.com. Corp. Reg. No. 556012-6293 7. FINANCIAL INSTRUMENTS BY CATEGORY SCA’s policies for the recognition of derivatives and hedge accounting are presented in SCA’s 2025 Annual Report, Note E6. SEKm Measure- ment level Sep 30, 2026 Dec 31, 2025 Financial assets measured at fair value in the income statement Derivatives - Current financial assets 2 2 1 Derivatives - Other current receivables 2 15 105 Total 17 106 Financial liabilities measured at fair value in the income statement Derivatives - Current financial liabilities 2 0 0 Derivatives - Other current liabilities 2 137 2 Total 137 2 Financial assets measured at fair value through other comprehensive income Equity instruments 3 24 24 Total 24 24 Financial liabilities measured at amortized cost Non-current financial liabilities excluding leasing - 11,187 12,306 Non-current financial liabilities, leasing - 237 303 Current financial liabilities excluding leasing - 3,788 1,832 Current financial liabilities, leasing - 171 185 Total 15,383 14,626 Derivatives used for hedge accounting Non-current financial assets 2 41 24 Other non-current assets 2 11 6 Other current receivables 2 88 130 Total 140 160 Non-current financial liabilities 2 2 11 Other non-current liabilities 2 6 - Other current liabilities 2 269 6 Total 277 17 The fair value of trade receivables, other current and non-current receivables, cash and cash equivalents, and trade payables is estimated to be equal to their carrying amount. The total fair value of current and non-current financial liabilities, excluding lease liabilities, was SEK 14,917m (14,077). The value of electricity derivatives is based on published prices in an active market. Other financial instruments are marked to market, based on prevailing currency and interest rates on the balance sheet date. The fair value of debt instruments is determined using valuation models, such as discounting future cash flows at quoted market rates for the respective maturity. 8. SHARE DISTRIBUTION AND EARNINGS PER SHARE Share distribution Quarter Jan-Sep 2026:3 2025:3 2026:2 2026 2025 Number of A shares 60,864,830 62,866,430 60,864,830 60,864,830 62,866,430 Number of B shares 641,477,659 639,476,059 641,477,659 641,477,659 639,476,059 Registered number of shares 702,342,489 702,342,489 702,342,489 702,342,489 702,342,489 At the end of the period, the proportion of Class A shares was 9%. No shares were converted during the third quarter. During the first nine months of the year, 1,001,600 Class A shares were converted to Class B shares at the request of shareholders. The total number of votes in the company amounts to 1,250,125,959. Earnings per share Quarter Jan-Sep 2026:3 2025:3 2026:2 2026 2025 Profit for the year attributable to owners of the Parent, SEKm 772 832 523 1 675 2 720 Profit for the year per share non-controlling interest, SEKm 0 0 0 0 0 Average number of shares, millions 702 702 702 702 702 Earnings per share, SEK - owners of the Parent1 1,10 1,19 0,74 2,38 3,87 1 There are no dilution effects
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S C A I n t e r i m r e p o r t – J a n u a r y 1 – S e p t e m b e r 3 0 , 2 0 2 6 17 SVENSKA CELLULOSA AKTIEBOLAGET SCA (publ), Skepparplatsen 1, 851 88 SUNDSVALL. www.sca.com. Corp. Reg. No. 556012-6293 9. CONTINGENT LIABILITIES AND COMMITMENTS SEKm Parent Subsidiaries Contingent liabilities Sep 30, 2026 Dec 31, 2025 Sep 30, 2026 Dec 31, 2025 Guarantees for subsidiaries 588 650 - 15 associates and joint ventures 75 175 5 5 Other contingent liabilities 2 2 52 26 Total 665 827 57 46 As of September 30, 2026, SCA had no material commitments. 10. ALTERNATIVE PERFORMANCE MEASURES For definitions of alternative performance measures, refer to SCA’s 2025 Annual Report, pages 171–173. Operating cash flow Quarter Jan-Sep SEKm 2026:3 2025:3 2026:2 2026 2025 EBITDA 1,631 1,644 1,303 4,041 5,328 Changes in biological assets, result from associated companies and JV, and other non cash flow items -497 -446 -498 -1,474 -1,339 Operating cash surplus 1,134 1,198 805 2,567 3,989 Change in working capital -322 296 -43 -67 -840 Current capital expenditures, net 1 -365 -302 -285 -830 -885 Other operating cash flow -21 -81 -31 -229 285 Operating cash flow 426 1,111 446 1,441 2,549 1 Including following values from new leasing contracts: -20 -22 -12 -56 -63 Capital structure SEKm Sep 30, 2026 Dec 31, 2025 Total assets 147,916 146,457 Financial assets -4,794 -3,998 Long term, non-interest bearing liabilities -24,553 -24,172 Short term, non-interest bearing liabilities -6,211 -5,827 Total capital employed 112,358 112,460 Net debt, SEKm 10,627 10,939 Net debt/EBITDA (LTM) 1 2.0x 1.7x Equity, SEKm 101,731 101,521 Net debt/Equity (%) 10.4 10.8 1 Last Twelve Months Return on capital employed Quarter LTM 1 Full year % 2026:3 2025:3 2026:2 2026 2025 Return on capital employed 3.7 3.8 2.6 2.7 3.8 Return on capital employed, industrial 7.6 4.5 -0.2 0.5 4.4 1 Last Twelve Months Working capital SEKm Sep 30, 2026 Dec 31, 2025 Inventories 6,257 6,555 Trade receivable 4,022 3,196 Other current receivables 1,051 970 Trade payable -4,288 -4,375 Other current liabilities and provisions -1,624 -1,002 Working capital 5,418 5,344
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S C A I n t e r i m r e p o r t – J a n u a r y 1 – S e p t e m b e r 3 0 , 2 0 2 6 18 SVENSKA CELLULOSA AKTIEBOLAGET SCA (publ), Skepparplatsen 1, 851 88 SUNDSVALL. www.sca.com. Corp. Reg. No. 556012-6293 Net debt SEKm Sep 30, 2026 Dec 31, 2025 Surplus in funded pension plans 1 4,467 3,168 Non-current financial assets 175 158 Current financial assets 8 82 Cash and cash equivalents 144 590 Financial receivables 4,794 3,998 Non-current financial liabilities 11,426 12,620 Provisions for pensions 35 300 Current financial liabilities 3,960 2,017 Financial liabilities 15,421 14,937 Net debt -10,627 -10,939 1 Surplus in funded pensions plans consists mainly by Swedish listed shareholdings. 11. QUARTERLY DATA BY SEGMENT NET SALES Quarter SEKm 2026:3 2026:2 2026:1 2025:4 2025:3 2025:2 Forest 2,363 2,480 2,547 2,544 2,390 2,542 Wood 1,446 1,524 1,303 1,350 1,544 1,733 Pulp 1,764 1,735 1,623 1,758 1,651 1,794 Containerboard 1,973 1,828 1,735 1,744 1,755 1,819 Renewable energy 18 20 38 4 2 1 Intra-group deliveries -2,316 -2,434 -2,506 -2,507 -2,349 -2,509 Total net sales 5,248 5,153 4,740 4,893 4,993 5,380 EBITDA Quarter SEKm 2026:3 2026:2 2026:1 2025:4 2025:3 2025:2 Forest 702 866 884 927 912 1,070 Wood 117 89 49 78 232 310 Pulp 198 107 40 -71 242 261 Containerboard 446 135 104 227 194 451 Renewable energy 201 217 206 142 79 87 Other -33 -111 -176 -67 -15 -146 Total EBITDA 1,631 1,303 1,107 1,236 1,644 2,033 EBITDA MARGIN Quarter % 2026:3 2026:2 2026:1 2025:4 2025:3 2025:2 Forest 29.7 34.9 34.7 36.4 38.2 42.1 Wood 8.1 5.8 3.8 5.8 15.0 17.9 Pulp 11.2 6.2 2.5 -4.1 14.6 14.5 Containerboard 22.6 7.4 6.0 13.0 11.0 24.8 Renewable energy1 42.1 41.8 31.1 24.5 21.0 17.8 EBITDA margin 31.1 25.3 23.4 25.2 32.9 37.8 Operating profit Quarter SEKm 2026:3 2026:2 2026:1 2025:4 2025:3 2025:2 Forest 633 798 817 860 841 1,006 Wood 43 17 -23 3 159 237 Pulp 14 -75 -132 -241 78 95 Containerboard 239 -72 -100 28 -4 253 Renewable energy 159 175 165 122 61 69 Other -41 -119 -184 -75 -23 -156 Total operating profit 1,047 724 543 697 1,112 1,504 1 EBITDA as share of Revenue. Renewable energy's revenue amounted to 478 519 662 577 377 494
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S C A I n t e r i m r e p o r t – J a n u a r y 1 – S e p t e m b e r 3 0 , 2 0 2 6 19 SVENSKA CELLULOSA AKTIEBOLAGET SCA (publ), Skepparplatsen 1, 851 88 SUNDSVALL. www.sca.com. Corp. Reg. No. 556012-6293 PARENT COMPANY CONDENSED INCOME STATEMENT Jan-Sep SEKm 2026 2025 Other operating income 316 260 Other operating expenses -248 -189 Personnel costs -66 -66 EBITDA 2 5 Depreciation, amortization and impairment -80 -81 Operating profit -78 -76 Result from participations in Group companies1 3,947 - Financial items 102 69 Profit after financial items 3,971 -7 Appropriations 354 1,017 Profit before tax 4,325 1,010 Income tax -84 -209 Profit for the period 4,241 801 1 Dividends from subsidiaries Other operating income was mainly related to remuneration for the granting of felling rights for the Parent Company’s forest assets. Other comprehensive income was the same as profit for the period. CONDENSED BALANCE SHEET SEKm Sep 30, 2026 Dec 31, 2025 Tangible non-current assets 9,373 9,427 Non-current financial assets 12,400 12,316 Total non-current assets 21,773 21,743 Current assets 17,863 14,962 Total assets 39,636 36,705 Restricted equity 11,373 11,373 Non-restricted equity 10,054 7,920 Total equity 21,427 19,293 Provisions 1,792 1,784 Non-current liabilities 11,206 12,323 Current liabilities 5,211 3,305 Total equity, provisions and liabilities 39,636 36,705
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S C A I n t e r i m r e p o r t – J a n u a r y 1 – S e p t e m b e r 3 0 , 2 0 2 6 20 SVENSKA CELLULOSA AKTIEBOLAGET SCA (publ), Skepparplatsen 1, 851 88 SUNDSVALL. www.sca.com. Corp. Reg. No. 556012-6293 INVITATION TO PRESS CONFERENCE A webcast press conference will be held where this interim report will be presented by the President and CEO, Ulf Larsson, and by the CFO, Andreas Ewertz, on Friday, October 23 at 10:00 a.m. The press conference will be webcast live at www.sca.com. It is also possible to participate by telephone by calling: Sweden: +46 (0)8 505 204 24 UK: +44 (0)33 0551 0200 US: +1 786 697 3501 Specify “SCA”. For further information, please contact Andreas Ewertz, CFO +46 (0)60 19 31 97 Tommy Olofsson, Investor Relations Director +46 (0)76 130 69 23 Per Funkquist, Acting SVP Sustainability and Communications +46 (0)70 795 12 22 Please note: This is information that SCA is obliged to make public pursuant to the EU Market Abuse Regulation. This report has been prepared in both Swedish and English versions. In case of variations in the content between the two versions, the Swedish version shall govern. The information was submitted for publication, through the agency of the contact person set out below, on October 23, 2026 at 8:00 a.m. CEST. The report has not been reviewed by the company’s auditors. Per Funkquist, Acting SVP Sustainability and Communications +46 (0)70 795 12 22 FUTURE EVENTS Year-end report, Q4 2026 Published on January 29, 2027 Annual General Meeting To be held on March 31, 2027 Interim report, Q1 2027 Published on April 23, 2027