THULE Investor Presentation

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Investor event @Thule store 11 December 2024 Mattias Ankarberg, CEO Toby Lawton, CFO Catharina Paulcén, CorpComm/IR Baptiste Chaussignand, Category Mgmt. Bike

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Today’s topics  Market update  Strategy  Quad Lock  Product news 2025 2

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Priorities 2024 – sales growth and inventory  Most intense product launch year in Thule history  Two new product categories: dog transportation, car seats  Six new thule.com markets add DTC sales growth  Inventory reduced further SEK +200m, SEK +1bn 2023-2024  Record number of international design awards and winning Europe’s most recognized car seat test add to positive energy 2024 – Product driven growth in a tough market 3 Intense 2024/Q4 to end the year  Seasonally smallest quarter with different business mix  Acquisition of Quad Lock announced and closed  European car seat roll out in over 20 countries Tough market trends continue  Generally tough market, with mixed specific trends + Premium bike market – RV, particularly OE + Europe – North America  New Thule products drive growth also in a tougher market

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2024/Q3 LTM – Return to profitable growth 2024/Q3 LTM  Net sales SEK 9.4b  EBIT SEK 1.6b  EBIT margin 17.1% 0 500 1 000 1 500 2 000 2 500 0 2 000 4 000 6 000 8 000 10 000 12 000 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q3 LTM Net sales SEK m EBIT SEK m EBITNet sales 4

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Building on strengths  We have tailwind – people increasingly want to live active lives  We are global market leaders in our key product categories  We invest in our own capabilities for innovation & quality

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Market leading positions have driven vast majority of value growth over last decade  Long standing market leading positions, e.g., in roof top boxes since 1990’s  A few no 1 positions account for 90% of sales growth and gross profit growth since 2014 #1: Market leading positions are the source of our value creation 6

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#2: Our market leading positions are in categories with common characteristics 7 1. Fit with Thule brand Enable an active life outdoors, appreciated by enthusiast consumers 2. Market tailwind Good category growth and high consumer willingness to pay for best product 3. Barriers to entry Less competitive intensity, driven by safety, regulations, IP, and/or complexity 4. Leverage from innovation  Innovation drives premium and growth  Thule R&D positioned for best product  Scale from distribution and supply chain

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#3: We have a proven model to extend market positions 8 Profitable organic growth Market leading resources  Know-how, technology, IP, etc.  Ability to invest  Market reach Pockets of market leadership Our Thule model Capabilities & culture  Innovation and quality  Never settle, always improve  Scale effects in manufacturing + = Extend market leading positions Invest in capabilities Out-innovate

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Example: building bike carriers into a top Thule category Upgrading the world’s most sold bike carrier  Thule Easyfold just got better  Intuitive click-in/out bike arm for effortless one-handed loading and unloading of bikes  Transforming from a 3 to 4-bike using innovative add-on  Large wheelbase accommodates larger bikes and e-bikes  50% lower CO2 emissions vs. previous generation  Less aluminum  Hydro power produced aluminum  Increased share recycled plastic  Available through to selected retailers and thule.com in 2024  RRP EUR +100 vs previous generation, to EUR 949 (2-bike) 9 1992 As global market leader in roof mounted bike carriers, Thule launches the first hanging towbar bike carrier 1997 Thule enters platform segment with Thule EuroClassic, quickly establishing Thule as platform market leader 1999 Thule acquires Polish supplier and starts transformation journey in in-house manufacturing 2001 Launch of mid price platform bike carrier Thule RideOn 2009 Launch of Thule EuroPower, first e-bike focused carrier 2014 Launch of Thule EasyFold, a fully foldable premium towbar carrier that quickly becomes no 1 in market 2015 Towbar carriers pass roof mounted by volume sold 2016 Launch of Thule VeloSpace to target heavy e-bikes 2023 Launch of Thule Epos, setting new standard in premium foldable platform category 2024 Upgrading world’s most sold carrier Thule EasyFold  Improved functionality, ease-of-use, accessories  50% lower CO2 emissions vs. previous generation  RRP EUR +100 vs previous gen. to EUR 949 (2-bike)

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10 2005 Thule Omnistor European no 1 in bike carriers, awnings for RVs Sales 5x (2005-2023) or +9% CAGR 2011 Thule Chariot Global leader in multi- sport and bike trailers Sales 4x (2011-2023) or +13% CAGR 2017 Thule Yepp European regional leader in bike seats Sales 2x (2017-2023) or +10% CAGR 2018 Thule Tepui North American market leader in roof top tents Sales 3x (2018-2023) or +23% CAGR #4: Acquisitions have added to market leading positions

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VISION 11 STRATEGY Big in pockets, united by our Thule brand 1. Focus on market leadership in attractive product categories 2. Product driven growth to extend our market positions 3. Add-on acquisitions to complement organic growth 4. Premium Thule brand and culture, uniting our product categories and enthusiast consumers

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13 https://youtu.be/BtiF6Icfy4E?si=XHmxOKfvC5xi9_js

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VISION 14 STRATEGY Big in pockets, united by or Thule brand 1. Focus on market leadership in attractive product categories 2. Product driven growth to extend our market positions 3. Add-on acquisitions to complement organic growth 4. Premium Thule brand and culture, uniting our product categories and enthusiast consumers

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Strong biking trends: opportunities for further innovation 15 More bike infrastructure Making it easy to commute and use bikes for transportation E-bikes become the new cars Replacing the second or the main car for urban families. Hardware integration E-bikes are evolving and are now equipped with phone charging and bike remote controls. Staying connected Bikers want to stay connected and use their apps for messaging, navigation, and workouts when biking.

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 Upgraded versions of our best sellers  Thule Force 3 – upgrading our best mid-price roof top box  Thule Verse – North Am. bike carrier with modern aesthetic  Thule Easyfold 3 – updating our most sold bike carrier  Thule Glide 3 – our award-winning running stroller gets better  Thule Chasm – building out our leading duffel bag collection  Thule Aion – extending our luggage collection and including surf  Innovations in our core sport & cargo carrier category  Thule Santu – rear-of-car innovation combining bike and cargo  Thule OutPace – our new best mid-price foldable bike carrier  Thule Arcos XL – new solution to transport skis behind car  Thule XScape – truck rack with easy install and adjustments  Scaling up our newest categories  Thule Cappy – our first crash-tested dog harness  Thule Palm – high-back booster seat for safety and comfort  Thule Allax double door – designed to protect dogs and people High launch pace continues 2025 – new innovations in sports & cargo carriers 16

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Future is bright // Building on strengths 2023-10-27 Thule Group Q3 Report 2023 Investor- and analyst presentation17  2023/Q3 Net sales 1,689 MSEK (1,418) +8% increase (constant currency) vs PY  Strong growth from premium bike related products  Bike retailer inventory of Thule products generally back to healthy levels  New products, e.g., our most premium bike carrier Thule Epos, add growth  Europe generally performs well, except RV  Solid performance in Sports & Cargo Carries also outside bike carriers  Juvenile & Pet delivers good growth in multi-sport & bike trailers  Smallest category, Packs, bags & luggage, continue to see good growth from Thule branded collections  Overall strongest sales performance in premium segment  RV Products decline double digit  Continued growth to OE/vehicle outfitters still delivering on order backlog  However not enough to offset decline in after market sales  RV Products is our only exposure to a historically cyclical market segment  DTC (direct to consumer) sales continued to grow from small base  Strongest market performance in Germany and the Nordics, while France declines with cautious large retail chains Thule Verse – Bike carrier with modern aesthetic for NA

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Thule Easyfold 3 – updating our most sold bike carrier

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Thule Santu – rear-of-car innovation for bike and cargo 19

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20 Q&A

Slides