Slides
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Interim report Q3 2026 23 October 2026
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US • Malaysia • Taiwan • New Zealand Sdiptech in brief – Core SDIPTECH Q3 2026 | 2 An infrastructure technology group creating sustainable, efficient and safe societies Supply Chain & Transportation Water & Bioeconomy Energy & Electrification Safety & Security 2,054 Co-workers 4,877m Net sales, SEK 20.8% Adj. EBITA margin Leading niche products and solutions for infrastructure segments Four Business Areas positioned in sectors driven by sustainable growth trends 35 decentralised units Organic growth & Acquisitions 1,015m Adj. EBITA, SEK LTM Q3 - 23 OCTOBER 2026
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3 Strategic • Stable market drivers and strong demand from our diversified portfolio • Working actively with our businesses to balance growth opportunities with working capital requirements • Continued good M&A pace, 2 acquisitions in Q3 23 OCTOBER 2026 SDIPTECH Q3 2026 | Q3 Highlights Financial • Organic Net Sales growth of 13% - strong demand • Adj EBITA growth of 11% and organic growth 6% • Cash conversion of 62%, LTM 81% • All four Business Area showing organic Net Sales and Adj. EBITA growth 19% 11% Total Net Sales growth Total Adj. EBITA growth 2 Number of Acquisitions
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23 OCTOBER 2026 SDIPTECH Q3 2026 | 4 Geographical distribution of sales 19% net sales growth, 13% organic - positive contribution from all business areas Net sales MSEK 6% 1 101 1 138 1 161 1 269 1 309 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 4 497 4 877 2025 LTM 2026 16% 49% 5% 6% 16% 9% Nordics UK Italy US Other, Europe Other, rest of the world Note: All numbers relate to Core 68% Proprietary products 26% Service 6% Installation Sales type +19%
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• Adj. EBITA amounted to SEK 261m, an increase by 11% − Solid Organic Adj. EBITA growth of 6% − FX effect of 0% • Adj. EBITA growth in all four business areas • Strong Adj. EBITA development especially in S&S, but also E&E • Adj. EBITA margin decreased to 20.0% (21.3), primarily due to: − An overall sales mix (large shift due to high sales growth) − A margin drop in SC&T due to one specific company Adjusted EBITA growth of 11% 23 OCTOBER 2026 SDIPTECH Q3 2026 | 5 Adjusted EBITA 235 255 241 258 261 21% Q3 2025 22% Q4 2025 21% Q1 2026 20% Q2 2026 20% Q3 2026 968 1 015 22% 2025 21% LTM 2026 Note: All numbers relate to Core +11%
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Cash flow generation of 81% LTM Q3 • Cash flow generation – LTM 81% (81) – Q3 62% (94), and SEK 143 (256) • Low generation mainly due to: – Taxes paid later 2026, in Q3 – Working capital increased due to: – inventory build-up due to seasonal effects – increased accounts receivables due to increased sales 6 SDIPTECH Q3 2026 | 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 23% Q3-23 86% 21% Q4-23 72% 22% Q1-24 83% 21% Q2-24 67% 21% Q3-24 109% 20% Q4-24 74% 94% Q1-25 47% 22% Q2-25 94% 22% Q3-25 134% 19% Q4-25 54% 21% Q1-26 70% 21% Q2-26 62% 22% Q3-26 22% Cash Conversion Cash Conversion LTM Working capital/net sales RTM CASH FLOW FROM OPERATING ACTIVITIES IN RELATION TO PROFIT BEFORE TAX, ADJUSTED FOR NON-CASH ITEMS 23 OCTOBER 2026
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Free cash flow (FCF1) per share and adjusted EPS2 • FCF/Share LTM Q3 2026: 12.69 SEK (14.63) due to – lower cash flow from operations – higher CAPEX, which reflects investments in – operational efficiency and – IT systems to support future growth • EPS LTM improved to 11.86 (8.90) due to – High earnings from divestments in Q4 2025 723 OCTOBER 2026 SDIPTECH Q3 2026 | 1) CASH FLOW FROM OPERATIONS LESS CAPEX AND AMORTISATION OF LEAS ING 2) EXCLUDING WRITEDOWNS OF GOODWILL/INTANGIBLE ASSETS 0,00 2,00 4,00 6,00 8,00 10,00 12,00 14,00 16,00 18,00 2103 2109 2203 2209 2303 2309 2403 2409 2503 2509 2603 2609 SEK/share FCF LTM per share EPS LTM
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SDIPTECH Q3 2026 | 8 Leverage ratio below target, including recent acquisitions - increased WC affected ROCE operations and P/WC - Leverage* ratio reduced, due to increased EBITDA (target < 3.0) 23 OCTOBER 2026 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 3.20 2.42 Q3-25 2.84 2.12 Q4-25 2.81 2.09 Q1-26 2.80 2.15 Q2-26 2.95 2.39 Q3-26 ND/EBITDA FND/EBITA Return on capital employed 10,0% 2021 12,2% 2022 13,0% 60,9% 83,0% 2023 12,6% 63,8% 78,0% 2024 13,5% 62,2% 79,0% 2025 13,6% 60,1% 76,0% 2026 LTM 4.144 5.996 7.414 8.257 8.186 7.765 Return on capital employed ROCE Core operations excl HQ Return on working Capital Capital employed *) TOTAL NET DEBT / ADJUSTED LTM EBITDA
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SDIPTECH Q3 2026 9 Balance sheet highlights: streamlined debt portfolio - 23 OCTOBER 2026 MSEK 600 800 800 400 1 131 1 266 720 1 167 1 944 1 193 1 316 914 2 800 1 811 1 920 2 319 0 500 1 000 1 500 2 000 2 500 3 000 3 500 4 000 4 500 175 2021 175 2022 175 2023 175 2024 175 2025 Q3 2026 2 473 3 385 3 779 4 211 4 208 3 920 Bank Debt Provisisons for Earn-outs Preference shares Bonds • March 2026 – Preference share redeemed: -175m – Repurchased bond: -250m • September 2026 – Bond redeemed: -550m – New issue bond: +400m • Reduced use of earn-outs in new acquisitions • Results – Less earnings dilution – Lower interest rates
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SDIPTECH Q3 2026 | 19 Supply Chain & Transportation • Continued stable demand and development for the biggest units • Solid net sales and adj. EBITA development – Hi volume growth for Hilltip – Acquired companies AUT and VALE had a good start since joining • Adj. EBITA margin decreased as a result of: – Higher material costs in Mecno, as well as by the comparison with the unit’s particularly strong Q3 2025 • Meeting higher demand affected WC during the quarter 47% ROCE* +27% Net sales +12% Adj. EBITA 18.5% Adj. EBITA margin Note: All data items relates to ”Core operations” and excludes ”Other operations”. *ROCE LTM Net sales Adj. EBITA and margin 23 OCTOBER 2026 98 137 91 107 109109 116 86 121 122 21,0% Q3 2025 23,0% Q4 2025 17,0% Q1 2026 19,5% Q2 2026 Q3 2026 18,5% Adj EBITA MSEK Previous year Adj EBITA MSEK Adj EBITA margin % 501 526 522 534 518518 506 505 622 659 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Net Sales MSEK previous year Net Sales MSEK
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SDIPTECH Q3 2026 | 10 Two new acquisitions – RSS and JLM Teknik expanding our Supply Chain & Transportation offering A.U.T. (Wheels and Castors) • Based in the UK, with annual revenue of approximately GBP 7 million and good profitability • Develops and supplies customised wheel and castor solutions for logistics applications • Leading position in the UK, serving logistics, industry, waste recycling and specialist engineering VALE Engineering • Based in the UK, with annual revenue of approximately GBP 5 million and good profitability • Develops and manufactures specialist equipment for road and infrastructure maintenance, both winter and summer maintenance • Strong UK market position, serving municipalities, infrastructure contractors and large facility operators 23 OCTOBER 2026
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SDIPTECH Q3 2026 | 19 Energy & Electrification • Strong growth in sales and adj. EBITA across the business units • Continued underlying growth momentum – Reliable power distribution and Electrification in particular • Phase 3 and Rolec performed well in Q3 • Continued high Adj. EBITA margin 53% ROCE +17% Net sales +9% Adj. EBITA 24.1% Adj. EBITA margin Note: All data items relates to ”Core operations” and excludes ”Other operations”. Net sales Adj. EBITA and margin 23 OCTOBER 2026 237 240 288 255 250250 281 328 297 293 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Net Sales MSEK previous year Net Sales MSEK 65 55 81 65 6464 73 95 74 71 25,8% Q3 2025 25,9% Q4 2025 29,1% Q1 2026 25,1% Q2 2026 Q3 2026 24,1% Adj EBITA MSEK Previous year Adj EBITA MSEK Adj EBITA margin %
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SDIPTECH Q3 2026 | 19 Water & Bioeconomy • Structural demand for purified water and cooling applications across Europe • Continued investment in long- term growth has established a higher cost base • Investments are beginning to pay off, with growth in both sales and adj. EBITA 92% ROCE +6% Net sales +2% Adj. EBITA 20.1% Adj. EBITA margin Note: All data items relates to ”Core operations” and excludes ”Other operations”. Net sales Adj. EBITA and margin 23 OCTOBER 2026 214 225 228 216 228228 241 212 226 241 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Net Sales MSEK previous year Net Sales MSEK 54 54 61 52 4848 56 44 48 49 21,0% Q3 2025 23,1% Q4 2025 20,7% Q1 2026 21,1% Q2 2026 Q3 2026 20,1% Adj EBITA MSEK Previous year Adj EBITA MSEK Adj EBITA margin %
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SDIPTECH Q3 2026 | 19 Safety & Security • Solid structural demand and development in all safety verticals, especially within: – Medicvent and clean air in hospital – Eagle and perimeter safety for data centers, airports, and government buildings – Cryptify and secure communication for government customers • Strong profit development – Margins benefit from operating leverage as volumes increase – Not a sustainable level in the long term 146% ROCE +9% Net sales +31% Adj. EBITA 35.9% Adj. EBITA margin Note: All data items relates to ”Core operations” Net sales Adj. EBITA and margin 23 OCTOBER 2026 17 32 34 31 3232 32 39 37 42 30,0% Q3 2025 28,9% Q4 2025 33,6% Q1 2026 30,2% Q2 2026 Q3 2026 35,9% Adj EBITA MSEK Previous year Adj EBITA MSEK Adj EBITA margin % 60 113 107 108 106106 110 116 124 116 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Net Sales MSEK previous year Net Sales MSEK
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Healthy M&A pace in Q3 • Two acquisitions closed in Q3 • Solid cash position and credit facilities to continue a healthy level going forward • Disciplined valuation principles are still in focus93 94 158 161 50 109 50 75 2019 2020 2021 2022 2023 2024 2025 2026 EBITA MSEK 5 4 4 2 2 44 # of acquisitions 23 OCTOBER 2026 SDIPTECH Q3 2026 | 15 6
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Summary & outlook 23 OCTOBER 2026 SDIPTECH Q3 2026 | 16 • Solid demand and growth in all four business areas in Q3 • Full focus on growth initiatives and keeping our cash conversion at a high level • Healthy M&A pace Financial targets 15% Total adjusted EBITA growth >15% ROCE <3.0 Leverage ratio Roadmap 2030
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Thank you!