Interim report
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CEO-COMMENTS FINANCIAL OVERVIEW BUSINESS AREAS FULL YEAR OTHER INFORMATION FINANCIAL REPORTS NOTES SDIPTECH AB (PUBL.) | INTERIM REPORT Q3 2026 | CORP.ID NO. 556672–4893 1 Interim Report Q3 2026 Q3 in short • Net sales increased by 4% and amounted to SEK 1 309 million (1 253). Organic growth contributed 13% excl. currency. • EBITA increased by 14% and amounted to SEK 280 million (245) corresponding to an EBITA-margin of 21.4 % (19.5). • Adjusted EBITA increased by 8% and amounted to SEK 261 million (242). Organic growth contributed 6% ex cl. currency. Adjusted EBITA-margin was 20.0% (19.3). • Profit before tax amounted to SEK 158 million (-378). Profit after tax amounted to SEK 113 million (-419) and earnings per share to SEK 2.96 (-11.14). Last year's result was impacted by an impairment of goodwill and surplus values of SEK 500 million. • Cash flow from operating activities amounted to SEK 143 million (256), corresponding to a cash flow generation of 62% (94%). • During the period, the Group's sustainability-linked bonds of SEK 550 million in total were repurchased and an early redemption was carried out . In connection with this, new senior secured bonds of SEK 400 million were issued. • Two acquisitions were completed, A.U.T (Wheels and Castors) Co. Ltd and VALE Engineering (York) Ltd in the UK. Key figures *The core business relates to Sdiptech's portfolio of 35 business units, including central units and excluding units that are not in line with the Group's direction and that have been divested during Q4 2025 – Q2 2026. Jul-Sep Jul-Sep Jan-Sep Jan-Sep LTM Sep Jan-Dec SEK million 2026 2025 2026 2025 2026 2025 Core operations* Net Sales 1,309 1,102 3,739 3,360 4,877 4,497 Adjusted EBITA 261 234 760 712 1,016 968 Adjusted EBITA-margin, % 20.0% 21.2% 20.3% 21.2% 20.8% 21.5% Group Net Sales 1,309 1,253 3,857 3,871 5,182 5,196 Adjusted EBITA 261 242 768 735 1,053 1,020 Adjusted EBITA-margin, % 20.0% 19.3% 19.9% 19.0% 20.3% 19.6% EBITA 280 245 697 747 1,058 1,108 EBIT 237 -293 575 128 900 454 Earnings for the period after tax 113 -419 231 -254 456 -28 Earnings per ordinary share after dilution, (SEK) 2.96 -11.14 6.04 -7.00 11.86 -1.17 Free cashflow per share (SEK) 1.90 5.27 5.30 9.58 12.69 16.97 Financial net debt/Adjusted EBITDA, multiple 2.39 2.42 2.39 2.42 2.39 2.12 Net debt/Adjusted EBITDA, multiple 2.95 3.20 2.95 3.20 2.95 2.84 Return on capital employed 13.6% 12.0% 13.6% 12.0% 13.6% 13.5% Return on equity 11.0% -4.0% 11.0% -4.0% 11.0% -1.1% Cash flow conversion 62% 94% 63% 71% 81% 86% ” Positive development in all business areas and and a favourable outlook - Anders Mattson, President and CEO
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CEO-COMMENTS FINANCIAL OVERVIEW BUSINESS AREAS FULL YEAR OTHER INFORMATION FINANCIAL REPORTS NOTES SDIPTECH AB (PUBL.) | INTERIM REPORT Q3 2026 2 COMMENTS BY THE CEO Positive development with organic growth in all business areas Good demand across the business We have continued to have solid demand during the third quarter. Net sales in the core business grew a total of 19 percent, of which 13 percent organically excluding currency effects. Profit in adjusted EBITA increased by a total of 11 percent, of which 6 percent was organic. This corresponded to an adjusted EBITA margin of 20.0 percent. Cash flow generation was 81 percent on a last twelve-month basis, which is in line with our ambitions of 70 –90 percent. In the third quarter, our cash flow generation was 62 percent, which was mainly due to increased inventory in some companies as part of seasonal inventory build -up for future deliveries. In addi tion, higher sales resulted in an increase in accounts receivable, which also had an impact on the cash flow. Focus on growth and return on capital With the divestment program completed, we focus on continuing to develop our business group. We work actively with our companies to drive profitable growth and free up working capital. Together with value-creating acquisitions, this will strengthen the return on capital and bring us closer to our long - term financial targets. It is therefore satisfying to be able to present a continued improvement in return on capital employed, which amounted to 13.6 percent in the quarter, compared with 12.0 in the same period last year, and 13.2 in the previous quarter. Positive development in all business areas All of Sdiptech's four business areas had good demand and showed a positive organic development in both net sales , as well as profit in adjusted EBITA, in the quarter. Supply Chain & Transportation continues to develop steadily. We have broadened our offerings in the business area with the two acquisitions that were completed in the quarter. In total, adjusted EBITA grew by 12 percent. However, the margin was impacted by higher costs in the Group's business unit that offers products and services for rail networks . T his unit also had a particularly strong third quarter last year. Energy & Electrification delivered a good quarter with profit growth of 9 percent in adjusted EBITA. The business area sees continued good demand for products and solutions driven by electrification and energy efficiency. Security & Safety had another strong quarter, with demand supported by increased security needs and regulatory requirements, especially in critical environments. The business area showed strong profit growth of 31 percent, mainly driven by strong demand fo r solutions for perimeter security , but also for air purification. Within Water & Bioeconomy, efforts to strengthen the conditions for the companies’ long-term growth have continued, resulting in a new, higher cost base going forward. At the same time, it is clear that several of the investments made have been the right ones, as we are now seeing positive growth in both sales and profit within the business area. We welcome two new acquisitions The acquisition activities has continued according to plan, and during the third quarter we welcomed two new companies that expand our offerings in Supply Chain & Transportation. AUT Wheels and Castors offers customized castors for various logistical applications. VALE Engineering develops and manufactures specialized equipment for the maintenance of roads, public environments and other infrastructure facilities. Good outlooks ahead We remain positive about the development going forward and see sustained demand in all business areas. The margins in 2026 provide a representative picture of the level of profitability we consider sustainable going forward. A streamlined portfolio, good organic growth and a growing acquisition pipeline provide us with a solid foundation for the continued development of the Group. Our focus is to translate these conditions into profitable growth, higher returns on capital and long-term value for customers, employees and shareholders. Anders Mattson, President and CEO Financial targets 15% Total Adjusted EBITA growth >15% Return on Capital Employed, ROCE <3,0 Total Net Debt leverage ratio
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CEO-COMMENTS FINANCIAL OVERVIEW BUSINESS AREAS FULL YEAR OTHER INFORMATION FINANCIAL REPORTS NOTES SDIPTECH AB (PUBL.) | INTERIM REPORT Q3 2026 3 FINANCIAL OVERVIEW Development during the quarter Net Sales Net sales for the quarter amounted to SEK 1,309 million (1,253). Comparable units in the core business contributed SEK 1,242 million (1,101). This corresponded to an organic growth of 13% excluding currency effects, which was 1%. Acquisitions contributed SEK 55 million (0) and businesses divested during the period contributed SEK 0 million (151) before they were divested. Net Sales by business area Our largest business area, Supply Chain & Transportation, continued to perform well in the third quarter, with net sales increasing by 27% in total, including acquisitions. Demand in Energy & Electrification was strong in the quarter, with net sales increasing by 17%. Solutions in electrification and energy efficiency were major contributors. Safety & Security also had a good quarter with continued good demand and growth. Net sales increased by 9%, which was supported by stricter regulatory requirements and an increased threat landscape that increases the need for protection in critical environments The Water & Bioeconomy business area developed cautiously positively in the third quarter, with net sales growing by 6%. Result Adjusted EBITA amounted to SEK 261 million (242) corresponding to an adjusted EBITA-margin of 20.0 (19.3). Comparable units in core operations contributed with SEK 269 million (256) before central costs of SEK -21 million (-19). This corresponds to an organic increase of 6%, excl. currency, which was 0.4% in the quarter. Operating profit EBIT amounted to SEK 237 million ( -293). Net financial items amounted to SEK -79 million (-85) and was negatively impacted by non-recurring effects linked to the redemption of bonds of SEK -13 million. The Group's profit after tax amounted to SEK 113 million (-419) and earnings per ordinary share amounted to SEK 2.96 (-11.14). Jul-Sep Jul-Sep Net Sales 2026 2025 Organic 1,242 1,101 Currency 12 0 Acquisition 55 0 Divestments 0 151 Total 1,309 1,253 Jul-Sep Jul-Sep Adjusted EBITA 2026 2025 Organic 269 253 Central units -21 -18 Currency 1 0 Acquisition 13 0 Divestments 0 8 Total 261 242 Net Sales, Core Net Sales per segment, LTM CAGR, Adjusted EBITA 1,102 1,138 1,161 1,269 1,309 234 256 241 258 261 21.2% 22.5% 20.8% 20.5% 20.0% Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Net Sales Adjusted EBITA Adjusted EBITA-margin, % 44% 23% 18% 9% 6% Supply Chain & Transportation Energy & Electrification Water & Bioeconomy Safety & Security Other Operations (divested) 671 919 1,010 1,020 1,053 20.1% 19.6% 19.6% 20.3% 20.3% 13% 2022 2023 2024 2025 LTM 2026 Adjusted EBITA Adjusted EBITA-margin, % CAGR
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CEO-COMMENTS FINANCIAL OVERVIEW BUSINESS AREAS FULL YEAR OTHER INFORMATION FINANCIAL REPORTS NOTES SDIPTECH AB (PUBL.) | INTERIM REPORT Q3 2026 4 FINANCIAL OVERVIEW Development during the quarter Return on capital employed The return on capital employed amounted to 13.6% (12.0%). Return on capital employed for core operating units, excluding goodwill and acquired intangible assets, amounted to 60.1% (63.8). Return on equity amounted to 11.0% (-4.0%). Cash flow Cash flow from operating activities after changes in working capital was SEK 143 million (256). Cash flow generation during the period amounted to 62% (94%). Free cash flow per share amounted to SEK 1.90 (5.27). During the period, inventories increased due to seasonal inventory build-up in certain units, while cash flow from trade receivables developed negatively, driven by higher sales during the period. Cash flow from investing activities amounted to SEK -421 million (- 184). Investments in intangible s and property, plant and equipment amounted to SEK -40 million (-28). Cash flow from financing activities amounted to SEK 240 million (-50). Liabilities The net debt/equity ratio at the balance sheet date was 2.95 (3.20). Completed acquisitions had a negative impact on the debt/equity ratio during the period. Net financial debt, excluding debt relating to contingent considerations, amounted to SEK 2.39 (2.42). During September, Sdiptech carried out repurchases and early redemptions of the Group's sustainability-linked bonds with a nominal amount of SEK 550 million. At the same time, new senior secured bonds of SEK 400 million were issued in September, maturing in 2030. The Group's total utilized credit volume as of September 30, 2026 amounted to a total of approximately SEK 2,786 million and SEK 400 million in outstanding bonds. Together with the Group's cash and cash equivalents of SEK 574 million, there was approximate ly SEK 1,754 million in available funds. Return on capital employed Cash Flow, LTM Debt ratio, LTM 12.0% 13.5% 12.8% 13.2% 13.6% 63.8% 62.2% 63.5% 61.8% 60.1% Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Return on capital employed Return on capital employed operations 778 848 886 832 773 81% 86% 82% 90% 81% Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Cash flow from operating activities Cash flow conversion 3.20 2.85 2.81 2.80 2.95 2.42 2.13 2.09 2.15 2.39 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 ND/EBITDA FND/EBITA
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CEO-COMMENTS FINANCIAL OVERVIEW BUSINESS AREAS FULL YEAR OTHER INFORMATION FINANCIAL REPORTS NOTES SDIPTECH AB (PUBL.) | INTERIM REPORT Q3 2026 5 Two acquisitions completed in the quarter A.U.T. (Wheels and Castors) - Logistics solutions for terminals and hubs AUT Wheels and Castors is based in the UK with annual sales of approximately GBP 7 million and good profitability. The company develops and delivers customized wheel and castor solutions for businesses with high demands on performance, safety and reliability. AUT has a leading position in the UK market and customers in logistics, industry, waste recycling and specialized engineering technology, among others. AUT is part of the Supply Chain & Transportation business area and strengthens Sdiptech's offering in safe and efficient intralogistics solutions. VALE Engineering – equipment for maintenance of roads, public environments and other infrastructure facilities VALE Engineering is based in the UK with an annual turnover of approximately GBP 5 million with good profitability. The company develops and manufactures specialized equipment for the maintenance of roads, public environments and other infrastructure. The largest product area is winter road maintenance, including salt spreaders and snow ploughs, but the offering also includes equipment for weed control and maintenance of sports and green areas. VALE has a strong position in the UK market with municipalities, infrastructure contractors and others responsible for larger facilities as customers. The company is part of the Supply Chain & Transportation business area and strengthens Sdiptech's existing offering in road maintenance.
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CEO-COMMENTS FINANCIAL OVERVIEW BUSINESS AREAS FULL YEAR OTHER INFORMATION FINANCIAL REPORTS NOTES SDIPTECH AB (PUBL.) | INTERIM REPORT Q3 2026 6 BUSINESS AREA Supply Chain & Transportation Demand within Supply Chain & Transportation was strong during the quarter. Several of the largest units, including GAH, ELM, and JR, showed good sales development. The performance was particularly strong at Hilltip, which has entered a new product segment. In addition, acquisitions were a major contributing factor. In total, sales increased by 27 percent compared to the same period in 2025. At the same time, profit in adjusted EBITA increased by 12 percent. The adjusted EBITA margin was negatively impacted by higher material costs in Mecno, which also had a strong third quarter the previous year. The business units have focused on securing production and delivery capacity to meet the increased demand, as well as regular seasonality, which affected the return on capital employed during the quarter. Two new companies, A.U.T. (Wheels and Castors) and Vale Engineering, were acquired in the quarter. BUSINESS AREA Energy & Electrification Energy & Electrification performed well in the third quarter, with increased net sales and adjusted EBITA of 17 percent and 9 percent, respectively. Demand in several business units was strong. For example, Phase 3, which designs and manufactures high -quality power connectors, performed very well and continued to broaden its customer base into new market segments. Rolec, the Group's unit that manufactures charging equipment and systems for electric vehicles, also had a strong quarter. 518 506 505 622 659 109 116 86 121 122 21% 23% 17% 19% 18% Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Net Sales Adjusted EBITA Adjusted EBITA-margin, % Jul-Sep Jul-Sep Jan-Sep Jan-Sep LTM Sep Jan-Dec SEK million 2026 2025 2026 2025 2026 2025 Net Sales 659 518 1,786 1,574 2,292 2,080 Adjusted EBITA 122 109 329 306 445 422 Adjusted EBITA-margin % 18.5% 21.0% 18.4% 19.4% 19.4% 20.3% No of business units 13 8 13 8 13 9 ROCE 47% 57% 47% 57% 47% 53% 250 281 328 297 293 64 73 95 74 71 26% 26% 29% 25% 24% Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Net Sales Adjusted EBITA Adjusted EBITA-margin, % Jul-Sep Jul-Sep Jan-Sep Jan-Sep LTM Sep Jan-Dec SEK million 2026 2025 2026 2025 2026 2025 Net Sales 293 250 918 793 1,198 1,074 Adjusted EBITA 71 64 240 211 313 283 Adjusted EBITA-margin % 24.1% 25.8% 26.2% 26.6% 26.1% 26.4% No of business units 6 6 6 6 6 6 ROCE 53% 46% 53% 46% 53% 49%
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CEO-COMMENTS FINANCIAL OVERVIEW BUSINESS AREAS FULL YEAR OTHER INFORMATION FINANCIAL REPORTS NOTES SDIPTECH AB (PUBL.) | INTERIM REPORT Q3 2026 7 BUSINESS AREA Water & Bioeconomy Water & Bioeconomy showed a slightly positive performance in a varied market, with sales increasing by 6 percent , and adjusted EBITA by 2 percent. Continued investments in long -term growth have resulted in a higher cost base within the business area . At the same time, several investments are starting to yield results, which has led to growth in both sales and profit. The business area's largest unit, Auger, stood out with strong financial performance, as did Pure Water Scandinavia and Watertech. BUSINESS AREA Safety & Security Safety & Security continued to have good demand in the third quarter, which was supported by increased regulatory requirement s and an elevated threat landscape . This strengthens the need for protection solutions in critical environments and resulted in a sales increase of 9 percent. For example, Eagle has continued to establish itself in customer segments such as data centres, airports and government buildings. Cryptify's secure communication solutions for e.g. customers in governmental bodies also remained good. At the same time, profit in adjusted EBITA grew by a strong 31 percent, driven by a higher proportion of products, software and services with particularly good profitability. Consequently, the business area’s already high margin strengthened further. However, the margin for the quarter should not be viewed as representative of a sustainable long-term level. 228 241 212 226 241 48 56 44 48 49 21% 23% 21% 21% 20% Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Net Sales Adjusted EBITA Adjusted EBITA-margin, % Jul-Sep Jul-Sep Jan-Sep Jan-Sep LTM Sep Jan-Dec SEK million 2026 2025 2026 2025 2026 2025 Net Sales 241 228 680 672 921 913 Adjusted EBITA 49 48 140 161 196 216 Adjusted EBITA-margin % 20.1% 20.9% 20.6% 23.9% 21.3% 23.7% No of business units 9 9 9 9 9 9 ROCE 92% 110% 92% 110% 92% 99% 106 110 116 124 116 31 33 39 37 42 30% 30% 34% 30% 36% Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Net Sales Adjusted EBITA Adjusted EBITA-margin, % Jul-Sep Jul-Sep Jan-Sep Jan-Sep LTM Sep Jan-Dec SEK million 2026 2025 2026 2025 2026 2025 Net Sales 116 106 356 320 466 430 Adjusted EBITA 42 31 118 96 151 129 Adjusted EBITA-margin % 35.9% 29.6% 33.2% 30.0% 32.4% 29.9% No of business units 7 7 7 7 7 7 ROCE 146% 155% 146% 155% 146% 129%
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CEO-COMMENTS FINANCIAL OVERVIEW BUSINESS AREAS FULL YEAR OTHER INFORMATION FINANCIAL REPORTS NOTES SDIPTECH AB (PUBL.) | INTERIM REPORT Q3 2026 8 FULL YEAR January to September Net sales for the core business increased by 11 percent to SEK 3,739 million (3,360), of which comparable units contributed SEK 3,618 million (3,360), an increase of 11 percent excluding currency effects. Operating profit EBIT amounted to SEK 575 million (128), capital loss related to divestments had a negative impact of SEK -165 million including disposal costs, while an adjustment of debt for contingent purchase price had a positive net impact of SEK 95 million. Last year's result was impacted by an impairment of goodwill and surplus values of SEK 500 million. Adjusted EBITA in the core business amounted to SEK 760 million (713), corresponding to an adjusted EBITA margin of 20.3 percent (21.2), of which comparable units contributed SEK 815 million (773), an increase of 5 percent, excluding currency effects. Including non-comparable units, other operations and central units, adjusted EBITA amounted to SEK 768 million (735). Net financial items amounted to SEK -210 million ( -245), positively impacted by lower currency differences. The Group's profit after tax amounted to SEK 231 million ( -254), total profit for the period including operations for divestment amounted to SEK 226 million (-290). Earnings per ordinary share amounted to SEK 6.04 (-7.00). Acquisitions on a rolling twelve-month basis as of September 2026 Period Acquisition Business area EBIT (SEK million) No of employees December -25 STORR B.V. Supply Chain & Transportation 9 10 April -26 Rail Safety Systems B.V. Supply Chain & Transportation 22 2 April -26 JLM Teknik ApS Supply Chain & Transportation 13 39 August -26 A.U.T Wheels Ltd Supply Chain & Transportation 20 14 September -26 Vale Engineering Ltd Supply Chain & Transportation 20 15 84 80
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CEO-COMMENTS FINANCIAL OVERVIEW BUSINESS AREAS FULL YEAR OTHER INFORMATION FINANCIAL REPORTS NOTES SDIPTECH AB (PUBL.) | INTERIM REPORT Q3 2026 9 Other information The parent company and central entities Central units consist of the Group's parent company Sdiptech AB and the Group's holding company. The Parent Company's revenues consist of intra-group management fees, directed to the subsidiaries for the Parent Company's services. The costs consist of expe nses for central functions such as management, acquisition teams, Group finance and other central functions. The number of employees in the Group at the end of the period was 2,054 (2,158). Completed acquisitions during the past twelve months have increased the number of employees by 80 employees and completed divestments have reduced the number of employees by 356 employees. Risks and uncertainties With 35 operating units, the Group's operations are spread across a number of industries and geographies, and exposure to individual customers and suppliers is also limited. This limits business and financial risks. For a description of the Group's significant risk and uncertainty factors, please refer to the detailed description in the Annual Report for 2025. We see some impact of the recent escalation of trade barriers and geopolitical unrest and are monitoring developments closely to ensure that we conduct our operations in the best possible way based on current conditions. Related party transactions No significant related transactions within the Group. Events after the end of the reporting period No significant events after the end of the reporting period Accounting policies The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (EU). This consolidated financial report has been prepared in accordance with IAS 34 Interim Financial Reporting and applicable provisions of the Annual Accounts Act. The Parent Company's interim report has been prepared in accordance with the Annual Accounts Act, which is in accordance with the provisions of RFR2 Accounting for Legal Entities. The same accounting principles and calculation criteria have been applied to the Group and the parent company as in the preparation of the most recent annual report for the financial year 2025. As a result of rounding, differences in summaries may occur in the interim report. New and amended standards for the financial year 2026 No effects are expected from new or amended standards under IFRS in 2026. As of January 1, 2027, IFRS 18 Presentation and Disclosure in Financial Statements will enter into force and replace parts of IAS 1. The standard introduces new requirements for the presentation of the income statement and increased disclosure requirements, including with regard to management's defined key performance indicators. The company has initiated an analysis of the effects of the introduction and believes that the standard will primarily affect the presentation and disclosures in the financial statements. Key estimates and assessments Estimates and assessments are evaluated on an ongoing basis and are based on historical experience and other factors, including expectations of future events that are considered reasonable under current conditions. For more detailed information, please refer to Note 1 in the Annual Report 2025. Nomination Committee for the Annual General Meeting 2027 At the Annual General Meeting on 25 May 2026, the Chairman of the Board was instructed to contact the largest shareholders in terms of voting rights as of 30 September 2026 and ask them to appoint members. The Nomination Committee shall consist of three members. The Chairman of the Board shall be an adjunct member of the Nomination Committee and convene the meetings of the Nomination Committee. Accordingly, the following persons have been appointed as members of the Nomination Committee for the 2027 Annual General Meeting: • Helen Fasth Gillstedt (representing Handelsbanken Fonder) • Max Frydén (representing Cliens Fonder) • Simon Törnqvist (representing Ashkan Pouya) Proposals to the Nomination Committee from shareholders may be sent by post to the company's address for further promotion or sent by email to: valberedningen@sdiptech.com
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CEO-COMMENTS FINANCIAL OVERVIEW BUSINESS AREAS FULL YEAR OTHER INFORMATION FINANCIAL REPORTS NOTES SDIPTECH AB (PUBL.) | INTERIM REPORT Q3 2026 10 FINANCIAL REPORTS Consolidated income statement in summary Consolidated report of comprehensive income Jul-Sep Jul-Sep Jan-Sep Jan-Sep LTM Sep Jan-Dec Group (SEK million) Note 2026 2025 2026 2025 2026 2025 Net Sales 2 1,309 1,253 3,857 3,871 5,182 5,196 Other operating income 6 6 14 23 130 139 Total income 1,315 1,258 3,871 3,894 5,312 5,335 Operating expenses Materials, contracting and subcontracting -549 -496 -1,576 -1,533 -2,124 -2,081 Other external expenses -103 -117 -423 -360 -539 -477 Employee expenses -338 -349 -1,038 -1,101 -1,405 -1,468 Depreciation, amortisation and -88 -589 -259 -770 -344 -855 Operating profit¹ 237 -293 575 128 900 454 Finance net 2 -79 -85 -210 -245 -275 -310 Earning before tax 158 -378 365 -116 625 144 Tax -45 -41 -134 -137 -169 -172 Earnings after tax from continued operations 113 -419 231 -254 456 -28 Profit/loss from discontinued operations 4 - -32 -5 -36 -7 -38 Total Profit for the period 113 -451 226 -290 449 -67 Operating profit includes Amortisation of intangible assets related to acquisitions -29 -27 -81 -83 -106 -108 Impariment of goodwill and non-current - -500 - -500 0 -500 Profit attributable to continued Continued operations, Parent Company's shareholders 112 -420 229 -255 454 -31 Discontinued operations, Parent Company's shareholders - -32 -5 -36 -7 -38 Non-controlling interests 1 1 2 2 2 2 Earnings per share Earnings per share 2.96 -11.14 6.04 -7.00 11.86 -1.17 Earnings per share, Group excl. impairment of goodwill and immaterial 2.96 2.03 6.04 6.17 11.86 11.99 Earnings per share, Group incl. discontinued operations 2.96 -11.99 5.90 -7.96 11.68 -2.18 Adjusted EBITA, Group 261 242 768 735 1,053 1,020 Average number of ordinary shares 37,991,938 37,991,938 37,991,938 37,991,938 37,991,938 37,991,938 Number of ordinary shares at the end of 37,991,938 37,991,938 37,991,938 37,991,938 37,991,938 37,991,938 Jul-Sep Jul-Sep Jan-Sep Jan-Sep LTM Sep Jan-Dec (SEK million) Note 2026 2025 2026 2025 2026 2025 Total Profit for the period 113 -451 226 -290 449 -67 Other comprehensive income Changes in accumulated translation differences 94 -64 203 -209 142 -270 Total comprehensive income 207 -516 429 -499 591 -337 Attributable to: Parent company's shareholders 206 -516 427 -500 589 -339 Non-controlling interests 1 1 2 2 2 2
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CEO-COMMENTS FINANCIAL OVERVIEW BUSINESS AREAS FULL YEAR OTHER INFORMATION FINANCIAL REPORTS NOTES SDIPTECH AB (PUBL.) | INTERIM REPORT Q3 2026 11 Condensed consolidated balance sheet 2026 2025 2025 (SEK million) Note 30 Sep 30 Sep 31 Dec Assets Goodwill 4,986 4,767 4,733 Other intangible assets 1,519 1,395 1,375 Property, plant and equipment 447 475 466 Right-of-use assets 376 463 447 Other non-current assets 42 20 20 Inventories 797 752 673 Trade receivables 1,012 937 840 Other receivables 253 320 296 Cash and cash equivalents 574 579 835 Assets held for sale 4 - 83 78 Total assets 10,005 9,790 9,799 Equity and liabilities Equity 4,337 3,938 4,099 Non-current interest-bearing long-term liabilities 3 3,952 4,256 4,050 Non-current non-interest-bearing long-term liabilities 363 329 330 Current interest-bearing liabilities 3 358 330 446 Trade payables 382 363 317 Other current liabilities 614 503 496 Liabilities held for sale 4 - 70 60 Total equity and liabilities 10,005 9,790 9,799
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CEO-COMMENTS FINANCIAL OVERVIEW BUSINESS AREAS FULL YEAR OTHER INFORMATION FINANCIAL REPORTS NOTES SDIPTECH AB (PUBL.) | INTERIM REPORT Q3 2026 12 Condensed consolidated statement of changes in equity Condensed consolidated cash flow Jul-Sep Jul-Sep Jan-Sep Jan-Sep Jan-Dec (SEK million) 2026 2025 2026 2025 2025 Opening equity 4,134 4,461 4,099 4,451 4,451 Profit for the period 113 -451 226 -290 -67 Other comprehensive income for the period 94 -65 203 -209 -270 Total income for the period 207 -516 429 -499 -337 Shareholder transactions Repurchase of preference share - - -184 - - Dividend to preference shareholders - -4 -4 -11 -14 Dividend to non-controlling interests - -4 -1 -4 -6 Warrant premium - - - - 4 Share-based remuneration -3 - -2 - 1 Closing equity 4,337 3,938 4,337 3,938 4,099 2026 2025 2025 Equity attributable to 30 Sep 30 Sep 31 Dec Parent Company shareholders 4,329 3,930 4,093 Non-controlling interests 8 8 6 Jul-Sep Jul-Sep Jan-Sep Jan-Sep LTM Sep Jan-Dec Group (SEK million) 2026 2025 2026 2025 2026 2025 Earnings before tax 158 -378 365 -116 624 143 Noncash items 73 651 345 900 331 886 Paid tax -55 -21 -149 -168 -180 -198 Cash flow from operations before change in working capital 177 251 561 615 776 830 Change in working capital Increase(-)/decrease(+) in stock -21 25 -82 -28 -7 47 Increase(-)/decrease(+) in operating receivables -12 -3 -232 -5 -168 59 Increase(+)/decrease(-) in operating liabilities 1 -17 199 -24 172 -50 Cash flow from operating activities 143 256 445 558 773 886 Investing activities Acquisitions of subsidiaries -230 - -368 -244 -429 -305 Acquisitions of subsidiaries, paid contingent considerations -172 -156 -218 -383 -218 -383 Disinvestments of subsidiaries 22 - 317 - 374 56 Capital expenditures in intangible assets -21 -17 -65 -55 -70 -60 Capital expenditures in tangible assets -19 -11 -79 -59 -101 -81 Cash flow from investing activities -421 -184 -413 -741 -445 -773 Financing activities Warrant premium -0 - - - 4 4 Repurchase of preference share - - -184 - -184 - Borrowings/repayment of borrowings, net 272 -11 -44 453 -55 442 Repayment of lease liabilities -32 -28 -100 -80 -120 -100 Dividend paid -0 -7 -5 -14 -11 -20 Cash flow from financing activities 240 -46 -332 359 -366 325 Cash flow for the period -37 25 -300 175 -36 439 Cash and cash equivalents at beginning of the period 589 562 834 435 834 435 Exchange rate difference in cash and cash equivalents 23 -9 40 -32 32 -40 Cash and cash equivalents at end of period 574 579 574 579 829 834 Cash and cash equivalents at end of period, discontinued operations - 6 - 6 3 9
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CEO-COMMENTS FINANCIAL OVERVIEW BUSINESS AREAS FULL YEAR OTHER INFORMATION FINANCIAL REPORTS NOTES SDIPTECH AB (PUBL.) | INTERIM REPORT Q3 2026 13 Parent company condensed income statement Parent company condensed balance sheet Key figures and financial information Jul-Sep Jul-Sep Jan-Sep Jan-Sep LTM Sep Jan-Dec (SEK million) 2026 2025 2026 2025 2026 2025 Net Sales 8 9 23 25 32 33 Total income 8 9 23 25 32 33 Operating expenses Other external expenses -7 -6 -23 -18 -33 -28 Employee expenses -19 -18 -61 -56 -78 -74 Depreciaiton of tangible and intangible assets -0 -1 -0 -1 0 -1 Operating profit -18 -16 -60 -50 -79 -69 Finance net -5 -22 9 -64 -10 -83 Earning before tax -24 -38 -52 -114 -90 -152 Group contributions received - - - - 101 101 Profit for the period -24 -38 -52 -114 10 -52 2026 2025 2025 (SEK million) 30 Sep 30 Sep 31 Dec Intangible assets - 1 1 Property, plant and equipment 1 1 1 Financial assets 2,593 2,810 2,582 Current receivables 565 977 1,228 Cash and cash equivalents 36 7 12 Total assets 3,196 3,796 3,822 Equity 2,012 2,190 2,253 Long-term interest-bearing liabilities 916 1,389 1,220 Short-term liabilities 268 217 349 Total equity and liabilities 3,196 3,796 3,822 Financial overview, Group Note Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Net sales, (SEK million) 1,309 1,289 1,259 1,325 1,253 Sales growth compared to previous year, % 4% 0% -5% -1% 4% EBITDA (SEK million) 325 299 210 410 296 Adjusted EBITDA, (SEK million) 321 320 305 345 305 EBITA, (SEK million) 280 255 162 359 245 Adjusted EBITA 261 261 246 284 242 Adjusted EBITA margin, % 20.0% 20.3% 19.5% 21.4% 19.3% EBIT, (SEK million) 237 213 126 325 -293 Profit for the year from Group, (SEK million) 113 97 21 225 -419 Profit for the year after deduction of minority (SEK million) 112 96 20 223 -420 Capital employed, closing balance, (SEK million) 8,148 7,700 7,497 7,715 7,923 Capital employed, average (SEK million) 7,765 7,709 7,940 8,186 8,402 Return on capital employed (ROCE), % 13.6% 13.3% 12.8% 13.5% 12.1% Equity, average adjusted for preference shares (SEK million) 4,084 3,940 3,978 4,024 4,112 Return on equity, % 11.0% -2.1% -2.5% -1.1% -4.0% Interest-bearing liabilities, closing balance (SEK million) 3,810 3,566 3,528 3,601 3,985 Net debt/Adjusted EBITDA, times 2.95 2.80 2.80 2.84 3.20 Financial interest-bearing liabilities (SEK million) 3,089 2,735 2,626 2,702 3,016 Financial net debt/Adjusted EBITDA, times 2.39 2.15 2.09 2.12 2.42 Equity capital including minority interests (SEK million) 4,337 4,134 3,968 4,099 3,938 Equity capital, attributed to parent (SEK million) 4,329 4,126 3,962 4,093 3,930 Equity ratio, % 43% 43% 41% 42% 40% Cash flow generation, % 62% 70% 54% 134% 94% Number of employees at the end of the period 2,054 1,975 1,896 2,160 2,158 Attributable to Parent Company shareholders Key figures per share Earnings per ordinary share (SEK) 2.96 2.54 0.54 5.83 -11.14 Equity per share, (SEK) 11.39 10.86 10.43 10.77 10.34 Cash flow from operating activities per share, (SEK) 3.80 4.90 3.05 8.63 6.71 Free operating cash flow per share, (SEK) 1.90 2.04 1.36 7.39 5.27 Average number of ordinary shares, '000 37,992 37,992 37,992 37,992 37,992 Number of shares, closing balance '000 37,992 37,992 37,992 37,992 37,992 Number of preference shares, '000 - - - 1,750 1,750
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CEO-COMMENTS FINANCIAL OVERVIEW BUSINESS AREAS FULL YEAR OTHER INFORMATION FINANCIAL REPORTS NOTES SDIPTECH AB (PUBL.) | INTERIM REPORT Q3 2026 14 NOTES Note 1. Business segment information Since January 2025, the Group has been divided into four business areas and 11 units that are not part of the core business and were intended to be divested. As of the balance sheet date, all divestments have been completed. Businesses under divestment In the second quarter of 2026, the divestment of the Group's unit for the manufacture of special elevators, installation and elevator service in Central Europe, classified according to IFRS 5.9, was completed. Segment information Group Geographical distribution of turnover Over the years, Sdiptech has acquired units outside Sweden; in Norway, Finland, the UK, the Netherlands, Italy and Denmark. In addition, the Group's units have subsidiaries in e.g. the USA, Malaysia, Taiwan and New Zealand. The Group's business units have customers mainly locally and regionally in their respective geographies, but exports also occur. Breakdown of turnover by revenue type Over the years, Sdiptech has mainly acquired product companies. As an important complement, these companies have service and installation offerings for several products, which ties customers closer to the companies. The service offering also provides underlying recurring revenue as a solid base for sales. Net Sales by product, LTM Net Sales by country, LTM Jul-Sep Jul-Sep Jan-Sep Jan-Sep LTM Sep Jan-Dec Net Sales (SEK million) 2026 2025 2026 2025 2026 2025 Supply Chain & Transportation 659 518 1,786 1,574 2,292 2,080 Energy & Electrification 293 250 918 793 1,198 1,074 Water & Bioeconomy 241 228 680 672 921 913 Safety & Security 116 106 356 320 466 430 Sum core operations 1,309 1,102 3,739 3,360 4,877 4,497 Other operations 0 151 118 511 306 699 Total net sales 1,309 1,253 3,858 3,871 5,183 5,196 Jul-Sep Jul-Sep Jan-Sep Jan-Sep LTM Sep Jan-Dec Adjusted EBITA (SEK million) 2026 2025 2026 2025 2026 2025 Supply Chain & Transportation 122 109 329 306 445 422 Energy & Electrification 71 64 240 211 313 283 Water & Bioeconomy 49 48 140 161 196 216 Safety & Security 42 31 118 96 151 129 Sum segments 282 252 827 773 1,104 1,051 Central units -21 -19 -67 -62 -88 -83 Sum core operations 261 234 760 712 1,016 968 Other operations -0 8 8 23 38 52 Total adjusted EBITA 261 241 768 734 1,053 1,020 Jul-Sep Jul-Sep Jan-Sep Jan-Sep LTM Sep Jan-Dec Adjusted EBITA (SEK million) 2026 2025 2026 2025 2026 2025 Supply Chain & Transportation 18.5% 21.0% 18.4% 19.4% 19.4% 20.3% Energy & Electrification 24.1% 25.8% 26.2% 26.6% 26.1% 26.4% Water & Bioeconomy 20.1% 20.9% 20.6% 23.9% 21.3% 23.7% Safety & Security 35.9% 29.6% 33.2% 30.0% 32.4% 29.9% Adjusted EBITA-margin % segments 21.6% 22.9% 22.1% 23.0% 22.6% 23.4% Adjusted EBITA-margin % core incl central units 20.0% 21.2% 20.3% 21.2% 20.8% 21.5% Other operations -5.5% 5.0% 7.0% 4.4% 12.3% 7.4% Total adjusted EBITA-margin Group 20.0% 19.3% 19.9% 19.0% 20.3% 19.6% Timing of revenue recognition (SEK million) Jul-Sep Jul-Sep Jan-Sep Jan-Sep LTM Sep Jan-Dec Core Operations 2026 2025 2026 2025 2026 2025 Sales direct 1,108 1,015 3,364 3,130 4,311 4,077 Sales, over time 202 87 376 230 567 420 Total Net Sales 1,309 1,102 3,739 3,360 4,877 4,497 68% 6% 26% Own products Installation Service 48% 5%6% 16% 9% 16% UK Italy US Other Europe Other, rest of world Nordics
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CEO-COMMENTS FINANCIAL OVERVIEW BUSINESS AREAS FULL YEAR OTHER INFORMATION FINANCIAL REPORTS NOTES SDIPTECH AB (PUBL.) | INTERIM REPORT Q3 2026 15 Note 2. Finance net Note 3. Liabilities Upcoming payments, undiscounted values as of 30 September 2026 Jul-Sep Jul-Sep Jan-Sep Jan-Sep LTM Sep Jan-Dec (SEK million) 2026 2025 2026 2025 2026 2025 Financial Income Interest income 0 1 3 4 5 6 Net exhange gain - - - - - - Other financial income 1 0 4 2 4 2 Total financial income 2 1 7 6 9 9 Financial cost Interest expense to credit institutions -66 -51 -165 -151 -219 -204 Discount rate for lease liabilities -4 -4 -12 -13 -16 -17 Discount rate on contingent considerations -7 -13 -24 -38 -29 -43 Exchange differences -2 -14 -12 -42 -19 -49 Other financial cost -2 -5 -4 -8 -0 -4 Total financial cost -81 -87 -217 -251 -283 -316 Net financial items -79 -86 -210 -245 -274 -310 2026 2025 2025 (SEK million) 30 Sep 30 Sep 31 Dec Liabilities to credit institutions 2,800 2,329 2,309 Bond liabilities 400 800 800 Leases 273 354 342 Contingent considerations 479 772 597 Other non-current liabilities - 2 2 Total non-current interest-bearing liabilities 3,951 4,256 4,050 Liabilities to credit institutions 0 9 10 Leases 115 123 119 Contingent consideration 242 198 317 Other current liabilities - 1 1 Total current interest-bearing liabilities 357 330 446 2026 2025 2025 (SEK million) 30 Sep 30 Sep 31 Dec Opening balance of the year 914 1,316 1,316 Acquisitions 37 71 82 Paid considerations relating to previous acquisitions -218 -383 -383 Interest expense (interest on present value) 24 35 39 Re-valuation via operating profit -90 4 -48 Exchange differences 52 -73 -92 Carrying amount at period end 720 970 914 (SEK million) 2026 2027 2028-2029 After year 2029 Contingent considerations 93 159 436 109
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CEO-COMMENTS FINANCIAL OVERVIEW BUSINESS AREAS FULL YEAR OTHER INFORMATION FINANCIAL REPORTS NOTES SDIPTECH AB (PUBL.) | INTERIM REPORT Q3 2026 16 Note 4. Discontinued operations Note 5. Aquisitions Accounting for acquisitions The acquisition analysis is preliminary. The acquisition analysis is kept open for 12 months from the date of closing. During the period, retroactive adjustments to the preliminary amounts reported at the time of acquisition may be made so that they reflect new information about the facts and circumstances that existed at the time of acquisition and which, if known, would have affected the calculation of the amounts reported at that time. Goodwill consists of the amount that the consolidated acquisition value of shares in acquired subsidiaries exceeds the fair value of the value of the company's net assets at the time of acquisition and is mainly attributable to synergies and other intangible assets that do not meet the criteria for separate accounting. Goodwill derives from the acquired entity's expected contribution to complementing and broadening the Group's offering, sales channels and synergies within infrastructure and contributes to the Group's continued growth. Transaction costs for acquisitions are expensed during the periods in which they arise and the services are performed. These costs, together with costs for any divestments, are recognized in the income statement under the item other external costs. Acquisition and disposal costs for the period January to September 2026 amounted to SEK 23 million (10), see also section Definitions and alternative performance measures. Jul-Sep Jul-Sep Jan-Sep Jan-Sep LTM Sep Jan-Dec Profit (SEK million) 2026 2025 2026 2025 2026 2025 Net Sales - 43 64 147 126 209 Operating profit - -30 -5 -29 -3 -27 Earnings before tax - -32 -5 -35 -4 -35 Tax - -0 -0 -1 -2 -3 Profit for the period - -32 -5 -36 -6 -37 Jul-Sep Jul-Sep Jan-Sep Jan-Sep LTM Sep Jan-Dec Cash flow SEK (million) 2026 2025 2026 2025 2026 2025 Cash flow from operating activities, net - - 2 3 6 7 Cash flow from investing activities - -1 -1 - -3 -2 Cash flow from financing activities - - -6 -8 -6 -8 Total cash flow - -1 -5 -5 -3 -3 2026 2025 2025 Balance sheet (SEK million) 30 Sep 30 Sep 31 Dec Intangible assets - 4 4 Property, plant and equipment - 4 6 Right-of-use assets - 11 7 Financial assets - 0 0 Inventories - 14 12 Trade receivables - 30 26 Other current receivables - 14 14 Cash and cash equivalents - 6 9 Total assets - 83 78 Non-current interest-bearing long-term liabilities - 14 10 Non-current non-interest-bearing long-term liabilities - 3 4 Current interest-bearing liabilities - 23 16 Current non-interest-bearing liabilities - 30 30 Total liabilities - 70 60 Preliminary acquisition analyses Carrying Carrying amount January to September 2026, (SEK million) Book Fair Value Total Goodwill - 270 270 Brand, IPR, Customer relations - 142 142 Property, plant and equipment 30 - 30 Right-of-use assets 33 - 33 Stock and work in progress 58 - 58 Cash and cash equivalents 32 - 32 Other current assets 50 - 50 Deferred tax liability -4 -35 -39 Other non-current liabilities -87 - -87 Other current liabilities -56 - -56 Total 57 377 434 Total Acquired units' contribution to the Group's turnover 87 Acquired units' contribution to the Group's profit before tax 20 Cash flow of acquisition Total Purchae price incl. Contingent consideration -434 Purchase price withheld 37 Cash and cash equivalents acquired 32 Payments pertaining to prrevious year's acquistions -218 Exchange difference -3 Total cash flow impact -586 Contribution of the acquired entities to Group turnover and profit
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CEO-COMMENTS FINANCIAL OVERVIEW BUSINESS AREAS FULL YEAR OTHER INFORMATION FINANCIAL REPORTS NOTES SDIPTECH AB (PUBL.) | INTERIM REPORT Q3 2026 17 Description of acquisitions during January to September 2026 On April 21, Sdiptech acquired 97% of the shares in Dutch Rail Safety Systems (RSS). The company develops and supplies patented magnetic safety barrier systems, complemented by a wide range of rail safety solutions, enabling safe, more efficient and regula r maintenance work. Its growing international presence and partner network provide a solid foundation for continued growth. The acquisition strengthens Sdiptech's offering in Supply Chain & Transportation. At the time of the acquisition, RSS had 2 employees. The company will be the tenth business unit in Supply Chain & Transportation and will be part of the business area from April 2026. Sdiptech paid EUR 6 million on the closing date, which was financed with own funds and existing credit facility. The final purchase price, which is settled at the end of a three -year earn-out period, is dependent on the company's earnings development. A final total purchase price that is higher than the current one assumes a higher level of earnings than the current one. On April 30, Sdiptech acquired all shares in the Danish company JLM Teknik ApS. The company develops and manufactures a number of different vacuum lifting tools as well as a wide range of other lifting aids. The company has over 25 years of experience and has built up a strong market position in Denmark as a supplier to industries such as warehousing and logistics, food and pharmaceuticals, and glass and window production. The acquisition complements Sdiptech's offering in Supply Chain & Transportation with efficient lifting tools and a growing international distributor network creates potential for growth. At the time of the acquisition, JLM had 39 employees. The company is the eleventh business unit in Supply Chain & Transportation and will be part of the business area from April 2026. Sdiptech paid DKK 55 million on the closing date, which is financed with own funds and existing credit facility. T he final purchase price, which will be settled at the end of a three -year earn-out period, is dependent on the company's earnings development. A final total purchase price that is higher than the current level assumes a higher level of earnings than the current one. On August 6, Sdiptech acquired the British company A.U.T (Wheels and Castors) Co. Ltd. Sdiptech has established a leading position in the UK market for wheels and castors, serving a wide range of sectors, including logistics, industry, waste recycling and specialized engineering industries. The company procures and constructs customized solutions for wheels and castors that meet customers' high and mission -critical requirements. The solutions contribute significantly to the efficiency and safety of customer s' operations. The acquisition complements Sdiptech's position in logistics solutions for terminals and hubs. At the time of the acquisition, A.U.T. had 17 employees. The company is the twelfth business unit in Supply Chain & Transportation and will be part of the business area from August 2026. Sdiptech paid GBP 8.5 million on the closing date, which is financed with own funds and existing credit facility. The final purchase price, which is settled at the end of a three -year earn-out period, is dependent on the company's earnings development. A final total purchase price that is higher than the current level assumes a higher level of earnings than the current On 1 September, Sdiptech acquired 91 percent of the shares in VALE Engineering (York) Ltd. The company was founded in 1999 and manufactures specialized equipment for the maintenance of roads, public environments and other infrastructure facilities. The company's largest product area is winter maintenance, including equipment for spreading salt solution in de-icing and snow ploughs. The offering also includes professional equipment for weed control as well as machines for the maintenance of sports and green areas. The business is mainly focused on the UK market, with some international exports. The acquisition strengthens our offering in road maintenance and complements Sdiptech's existing operations in Supply Chain & Transportation. At the time of the acquisition, Vale had 15 employees. The company is the thirteenth business unit in Supply Chain & Transportation and will be part of the business area from September 2026. Sdiptech paid GBP 10 million on the closing date, which is financed with own funds and existing credit facility. The final purchase price, which will be settled at the end of a two -year earn-out period, is dependent on the company's earnings development. A final total purchase price that is higher than the current level assumes a higher level of earnings than the current The estimated contingent purchase price for the four acquisitions amounted to a total of SEK 37 million at the time of acquisition after present value calculation. The valuation is based on an assessment of the likely outcome based on forecasts for the com panies from the date of acquisition until the end of the period of the contingent purchase price.
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CEO-COMMENTS FINANCIAL OVERVIEW BUSINESS AREAS FULL YEAR OTHER INFORMATION FINANCIAL REPORTS NOTES SDIPTECH AB (PUBL.) | INTERIM REPORT Q3 2026 18 Definitions and alternative performance measures Sdiptech presents alternative financial performance measures in addition to those established in accordance with IFRS. The purpose is to provide a better understanding of the development of the business and the financial position. However, these performanc e measures should not be seen as a replacement for IFRS -based performance measures. Alternative performance measures are presented in the interim report for follow -up of the Group's operations. The alternative performance measures presented in this interim report relate to adjusted EBITA, adjusted EBITDA, net debt/adjusted EBITDA, financial net debt/adjusted EBITDA, return on capital employed, cash flow generation, earnings per ordinary share and earnings per ordinary share after dilution and free cash flow per share, which are described below. Adjusted EBITA Adjusted EBITA is the Group's operational performance measure and is calculated as EBITA adjusted for acquisition and divestment costs, earnings from revaluation of contingent purchase prices, capital gains on disposals, items affecting comparability relat ing to non -material corrections of previous years in the subsidiaries and depreciation and amortisation that are not acquisition -related but derive from the operating units' intangible assets. The ratio facilitates comparisons of EBITA over time by excludi ng the impact from items affecting comparability. It is also used internally as a key financial measure for the business. Adjusted EBITA margin Adjusted EBITA in relation to net sales. EBITDA Operating profit before depreciation and amortization. Adjusted EBITDA Adjusted EBITDA is calculated as EBITDA adjusted for acquisition and divestment costs, earnings from revaluation of contingent purchase prices, capital gains on disposals, items affecting comparability relating to non-material corrections of previous years in the subsidiaries. EBITA Operating profit after depreciation of property, plant and equipment before impairment. The key figure enables comparisons of profitability over time, regardless of depreciation and amortization of acquisition-related intangible assets, as well as regardless of the corporate tax rate and the company's financing structure. However, depreciation of property, plant and equipment is included, which is a measure of the resource consumption necessary to generate earnings. Net financial debt/Adjusted EBITDA Calculated as net financial debt at the balance sheet date, including liabilities to credit institutions, outstanding bonds and lease liabilities (mainly discounted leases), in relation to adjusted EBITDA for the last four quarters. Net financial debt incl udes current and long -term interest-bearing liabilities less cash-like assets, but excludes liabilities related to contingent purchase price on acquisitions. Net debt/Adjusted EBITDA Calculated as net debt at the balance sheet date in relation to adjusted EBITDA for the last four quarters. Net debt includes short - term and long -term interest-bearing liabilities less cash -like assets. Certain interest -bearing liabilities relate to contin gent purchase prices on acquisitions, which are settled after the end of the vesting period depending on earnings developments. In order for the debt to be settled to its full book value, a higher level of profit than the current level is required. Capital employed Calculated as average equity and net debt for the last four quarters, less cash-like funds and short-term investments. Return on capital employed (ROCE) Calculated as EBITA for the last four quarters in relation to average capital employed at the time of the year-end. Return on equity Calculated as average profit after tax attributable to shareholders, adjusted for dividends to preference shares, for the last four quarters, in relation to average equity attributable to shareholders adjusted for preference capital for the last four quart ers at the time of closing of the financial statements. Cash flow generation Calculated as cash flow from operating activities in relation to profit before tax, adjusted for non-cash items. Free cash flow per share Calculated cash flow from operating activities, adjusted for investments in tangible and intangible fixed assets and amortization of leases, in relation to the average number of outstanding shares during the period. Earnings per ordinary share Calculated as profit after tax attributable to parent company shareholders, less dividends to preference shareholders, divided by the number of ordinary shares outstanding at the end of the period.
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CEO-COMMENTS FINANCIAL OVERVIEW BUSINESS AREAS FULL YEAR OTHER INFORMATION FINANCIAL REPORTS NOTES SDIPTECH AB (PUBL.) | INTERIM REPORT Q3 2026 19 Bridge, adjusted EBITA to EBIT Adjustment items consist of acquisition and divestment costs, profit from revaluation of contingent considerations, capital gains on disposals, items affecting comparability relating to non-material corrections of previous years in the subsidiaries. Revaluation of liabilities relating to contingent considerations may entail a corresponding income, if liabilities have been written down, or a cost if liabilities have been written down. The fact that these items vary over time depends on the development of the constituent companies and future forecasts. An evaluation of this development compared to book values takes place every quarter and may result in various revaluations affecting earnings. EBIT to EBITDA, operating profit before depreciation and amortization Interest-bearing net financial debt incl. leases as of the balance sheet date Net financial debt in relation to adjusted EBITDA Interest-bearing net debt as of the balance sheet date Jul-Sep Jul-Sep Jan-Sep Jan-Sep LTM Sep Jan-Dec (SEK million) 2026 2025 2026 2025 2026 2025 Adjusted EBITA 261 242 769 735 1,053 1,020 Adjustment items 4 -8 -113 -24 -47 41 Non-acquisition-related amortization and write- downs of non-current assets 15 11 42 36 51 46 EBITA 280 245 697 747 1,058 1,108 Non-acquisition related amortization of non- current assets -15 -11 -42 -36 -51 -46 Impairment of goodwill and non-current assets - -500 - -500 0 -500 Amortization and write-downs of acquisition related Intangible assets -29 -27 -81 -83 -107 -108 EBIT 237 -293 575 128 901 454 Jul-Sep Jul-Sep Jan-Sep Jan-Sep LTM Sep Jan-Dec (SEK million) 2026 2025 2026 2025 2026 2025 Operating profit 237 -293 575 128 900 454 Amortization and write-downs of tangible assets 44 51 136 150 186 201 Amortization and write-downs of intangible assets 44 538 123 620 157 654 EBITDA 325 296 834 899 1,244 1,309 Adjustment items -4 8 113 24 47 -41 Adjusted EBITDA 321 305 947 923 1,292 1,267 (SEK million) Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Liabilities to credit institutions 2,800 2,328 2,341 2,335 2,362 Bond liabilities 400 550 800 800 800 Leases 388 415 437 471 489 Other interest-bearing liabilities - - - 3 3 Total financial liabilities 3,588 3,293 3,578 3,608 3,654 Financial derivatives 76 31 -9 -46 -22 Cash and cash equivalents -574 -589 -926 -843 -585 Interest-bearing financial net debt 3,089 2,735 2,644 2,719 3,047 Adjustment for discontinued operations - - -18 -17 -31 Interst-bearing net debt 3,089 2,735 2,626 2,702 3,016 2026 2025 2025 (SEK million) 30 Sep 30 Sep 31 Dec Liabilities to credit institutions 3,089 3,016 2,702 Adjusted EBITDA 1,292 1,245 1,267 Financial net debt/Adjusted EBITDA, times 2.39 2.42 2.13 (SEK million) Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Interest-bearing financial net debt 3,588 3,293 3,578 3,608 3,654 Contingent considerations 721 831 902 914 970 Sum interest-bearing liabilities 4,309 4,124 4,481 4,522 4,624 Cash and cash equivalents -498 -558 -935 -890 -607 Interest-bearing net debt 3,810 3,566 3,546 3,633 4,017 Adjustment for discontinued operations - - -18 -31 -31 Total interest-bearing net debt 3,810 3,566 3,528 3,616 3,985
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CEO-COMMENTS FINANCIAL OVERVIEW BUSINESS AREAS FULL YEAR OTHER INFORMATION FINANCIAL REPORTS NOTES SDIPTECH AB (PUBL.) | INTERIM REPORT Q3 2026 20 Interest-bearing net debt in relation to adjusted EBITDA Average capital employed (ROCE) RTM EBITA in relation to average capital employed Average adjusted net income in relation to average equity Cash flow generation Earnings per ordinary share 2026 2025 2025 (SEK million) 30 Sep 30 Sep 31 Dec Interest-bearing net debt 3,810 3,985 3,616 Adjusted EBITDA 1,292 1,245 1,267 Net debt/EBITDA 2.95 3.20 2.85 (SEK million) Average Q3 2026 Q2 2026 Q1 2026 Q4 2025 Interest-bearing net debt 4,359 4,309 4,124 4,481 4,522 Cash and cash equivalents -720 -498 -558 -935 -890 Interest-bearing net debt 3,639 3,810 3,566 3,546 3,633 Adjustment for discontinued operations -9 - - -18 -17 Equity 4,135 4,337 4,134 3,968 4,099 Capital employed 7,765 8,147 7,700 7,497 7,715 2026 2025 2025 30 Sep 30 Sep 31 Dec EBITA 1,056 1,012 1,108 Capital employed 7,765 8,402 8,186 Return on capital employed 13.6% 12.0% 13.5% 2026 2025 2025 30 Sep 30 Sep 31 Dec Profit after tax, adjusted 451 -163 -46 Equity 4,084 4,112 4,024 Return on equity 11.0% -4.0% -1.1% Jul-Sep Jul-Sep Jan-Sep Jan-Sep LTM Sep Jan-Dec 2026 2025 2026 2025 2026 2025 EBT 158 -378 365 -116 625 144 Adjustment for non cash items 73 651 345 900 331 886 Adjusted EBT 231 272 710 783 956 1,029 Cash flow from operations 143 256 445 558 773 886 Cash flow generation, % 62% 94% 63% 71% 81% 86% Capex -40 -28 -144 -114 -171 -141 Lease amortization -32 -28 -100 -80 -120 -100 Free cash flow 72 200 201 364 482 645 Number of shares 37,991,938 37,991,938 37,991,938 37,991,938 37,991,938 37,991,938 Free cashflow per share 1.90 5.27 5.30 9.58 12.69 16.97 Jul-Sep Jul-Sep Jan-Sep Jan-Sep LTM Sep Jan-Dec 2026 2025 2026 2025 2026 2025 Profit/loss attributable to Parent Company's shareholders 112 -452 224 -292 447 -69 Dividend paid to preference shareholders - 4 - 11 4 14 Profit/loss attributable to Parent Company's shareholders 112 -455 224 -302 444 -83 Number of ordinary shares outstanding (thousands) 37,991,938 37,991,938 37,991,938 37,991,938 37,991,938 37,991,938 Earnings per ordinary share 2.94 -11.99 5.90 -7.96 11.68 -2.18
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CEO-COMMENTS FINANCIAL OVERVIEW BUSINESS AREAS FULL YEAR OTHER INFORMATION FINANCIAL REPORTS NOTES SDIPTECH AB (PUBL.) | INTERIM REPORT Q3 2026 21 STOCKHOLM, 23 OCTOBER 2026 Anders Mattson President and CEO ******* This interim report has been reviewed by the company's auditors. Auditor's audit report To the Board of Directors of Sdiptech AB (publ) reg. no. 556672-4893 Introduction We have conducted a limited review of the condensed interim financial information (interim report) for Sdiptech 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 Anna Rosendal Andreas Skogh Authorized Public Accountant Authorized Public Accountant Auditor in Charge
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CEO-COMMENTS FINANCIAL OVERVIEW BUSINESS AREAS FULL YEAR OTHER INFORMATION FINANCIAL REPORTS NOTES SDIPTECH AB (PUBL.) | INTERIM REPORT Q3 2026 22 Financial calendar 2026 Year-end report for 2026 10 February 2027 For further information, please contact: Anders Mattson, CEO +46 706 26 54 80, anders.mattson@sdiptech.com Bengt Lejdström, CFO +46 702 74 22 00, bengt.lejdstrom@sdiptech.com This information is information that Sdiptech AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact persons set out above, at 07.30 CEST on October 23, 2026. Sdiptech in brief We are an infrastructure technology group that acquires and develops companies that contribute to creating more sustainable, efficient and safe societies Vision We believe in a future based on more sustainable, efficient and safe societies. To achieve this, it is crucial to expand and improve the infrastructure around us. We intend to take an active role in this development by acquiring and developing leading niche companies that offer essential solutions for well-functioning communities. Business concept Sdiptech offers high value to customers in the infrastructure sector by providing high-quality technology, solutions and services to both the public and private sectors, primarily in Europe. Goals Sdiptech's overall goals are to create sustainable, long-term value growth and to become a leading European provider of niche offerings to the infrastructure sector.