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1 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 Interim Report January–September 2026 KEY DATA Jan-Sep Jan-Sep Jul-Sep Jul-Sep Full year Last 12 Amounts in SEK million unless indicated otherwise 2026 2025 2026 2025 2025 months Net sales 148 278 167 781 42 941 49 268 234 915 215 412 Operating profit before depreciation, amortisation and impairment losses (EBITDA)1 49 004 33 899 9 363 8 536 49 236 64 341 Operating profit (EBIT)1 33 058 17 823 4 198 3 388 27 102 42 337 Underlying EBIT1 25 945 21 470 3 813 6 154 30 937 35 412 Profit for the period 24 838 13 097 1 309 2 269 19 700 31 441 Electricity generation, TWh 68.1 74.3 18.4 23.8 102.1 95.9 Sales of electricity, TWh2 93.9 122.6 26.2 40.5 164.9 136.2 - of which, customer sales 66.8 87.3 19.5 27.8 116.5 96.0 Sales of heat, TWh 3.3 3.1 0.6 0.5 4.5 4.7 Sales of gas, TWh 38.1 45.9 5.4 6.8 65.0 57.2 Return on capital employed excl. Items affecting comparability, %1 11.6 3 7.6 3 11.6 3 7.6 3 10.2 11.6 FFO/adjusted net debt, %1,4 74.1 3 60.2 3 74.1 3 60.2 3 62.8 74.1 1) See Definitions and calculations of key ratios for definitions of Alternative Performance Measures. 2) Sales of electricity also include sales to Nord Pool Spot and deliveries to minority shareholders. 3) Last 12-month values. 4) The previously reported key ratio FFO has been removed and adjusted FFO is referred to as FFO from the first quarter of 2026. From the same point in time, Net payments to/from the Swedish Nuclear Waste Fund and Payments for provisions affecting adjusted net debt, are excluded from FF O. Prior periods have been restated. Business highlights, July–September 2026 • Vattenfall won the tenders of the Hesselø (0.8 GW) and North Sea I Mid (1 GW) offshore wind projects in Denmark • Final investment decision for the Brunsbüttel battery project in Germany with output of 254 MW and storage capacity of 1,000 MWh • Offshore construction started of the Nordlicht I wind farm (1 GW) in the German North Sea • New long-term agreements for large-scale battery optimisation in Germany and the Netherlands • Expansion of Vattenfall’s public charging network for electric vehicles in Sweden through acquisition of Nima Energy’s ultra-fast charging business • Permit in place for a new power line section to the Svartön industrial area in Luleå, Sweden, which enables further industry decarbonisation Financial highlights, January–September 2026 • Underlying operating profit1 increased by 21% to SEK 25,945 million (21,470) • Operating profit1 increased by 85% to SEK 33,058 million (17,823), whereof items affecting comparability SEK 7,113 million (-3,647) • Profit for the period increased by 90% to SEK 24,838 million (13,097) Financial highlights, July–September 2026 • Underlying operating profit1 decreased by 38% to SEK 3,813 million (6,154) • Operating profit1 increased by 24% to SEK 4,198 million (3,388), whereof items affecting comparability SEK 385 million (-2,766) • Profit for the period decreased by 42% to SEK 1,309 million (2,269)

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2 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 CEO’s comment Good results on the path towards fossil freedom Vattenfall delivered good results for the first nine months of 2026, despite a weaker third quarter due to nuclear power outages and lower hydrological balance. Our financial performance underscores that Vattenfall is standing strong in the volatile external environment we operate in. Supported by a robust financial position, we continue to invest in the energy system of the future, while delivering to our customers. Continued high electricity prices Nordic electricity prices more than doubled during the first nine months of 2026 compared with the same period last year. This development was primarily driven by weaker hydrology and high electricity consumption at the beginning of the year, as well as higher electricity prices on the Continent during the third quarter, mainly impacting the closely interlinked southern Nordic price areas. At the same time, the electricity prices in the northern Swedish price areas, where the majority of Vattenfall’s hydro power assets are located, were much lower compared to the Nordic system price. Electricity prices in Germany and the Netherlands increased by more than 20% compared with the first nine months of 2025, driven by higher gas prices due to the conflict in the Middle East and concerns about storage levels ahead of the winter. Good financial performance despite weaker third quarter Underlying operating profit for the first nine months of 2026 increased by SEK 4.5 billion compared with the same period in 2025. The increase was mainly driven by higher Nordic electricity prices, as well as increased earnings contributions from Vattenfall’s wind, customer sales and distribution businesses. This was partly offset by lower volumes from nuclear power mainly due to outages of Ringhals 3 and 4, as well as lower hydro power volumes due to weaker hydrological balance. This especially weighed down the underlying operating profit for the third quarter, which declined by SEK 2.3 billion. The profit for the first nine months increased by SEK 11.7 billion to SEK 24.8 billion. Progress across the value chain I am proud of our progress in projects and investments across the entire value chain this quarter. In August, Vattenfall won the tenders for two Danish offshore wind projects, with a combined capacity of 1.8 GW. Ultimately, Vattenfall’s long-term strategy and the strong position built in Denmark over many years were important factors for the outcomes in the tender processes. The Hesselø and North Sea I Mid wind farms will provide a significant contribution to Denmark’s fossil-free electricity generation and to Vattenfall’s portfolio. In Luleå, Sweden, Vattenfall secured the permit for building new power lines to the Svartön industrial area, strengthening the regional grid and creating conditions for additional industrial decarbonisation. The energy transition does not only require investments in fossil-free generation and electricity grids, but also storage and flexibility. In Germany, Vattenfall took the final investment decision for its largest battery project to date, with output of 254 MW and storage capacity of 1,070 MWh. The battery storage, located at the former Brunsbüttel nuclear power plant, will support grid stability and integration of renewable electricity. As a result of Europe’s dependence on fossil fuels, customers are experiencing increased pressure from high energy prices. Accelerating electrification and expanding fossil-free energy supply is essential to enable the phase-out of fossil fuels. As an integrated utility with a strong local presence in our markets, Vattenfall has the strength and stability to continue enabling fossil freedom, even in volatile times. While our solid financial position enables us to invest across the value chain, we stay focused on operational excellence and efficiency. This is essential to continue building our resilience and competitiveness long-term. Anna Borg President and CEO Underlying operating profit 25.9 SEK billion (21.5) Profit for the period 24.8 SEK billion (13.1) FFO/adjusted net debt1 74.1% (60.2) Return on capital employed excl. items affecting comparability 11.6% (7.6) 1 The key ratio has been adjusted and prior periods have been restated, see Definitions of key ratios for more information.

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3 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 -40 -30 -20 -10 0 10 20 2025 2026 0 50 100 150 2024 2025 2026 SE1¹ SE2¹ SE3 SE4 DK1 DK2 SYS Group overview Vattenfall generates electricity and heat from a portfolio of energy sources, such as hydro power, nuclear power, wind power, and some fossil fuels. We sell electricity, gas, and heat to private customers and businesses primarily in northern Europe. Vattenfall hedges parts of its future electricity generation through sales on the forward and futures markets. Market development During the first nine months of 2026, the electricity market has been characterised by high electricity prices on Vattenfall’s markets. In the Nordics, electricity prices were significantly higher than in the same period 2025. This was mainly due to weak hydrological balance and higher consumption due to cold weather in the beginning of the year, and additionally due to higher continental prices in the third quarter. The higher continental prices mainly impacted the southern Nordic price areas as they are closely interlinked. Electricity prices on the continent increased mainly due to higher gas prices driven by the conflict in the Middle East and storage level concerns ahead of the winter. ELECTRICITY SPOT PRICES, EUR/MWh The average spot price in the Nordics during the first nine months of 2026 more than doubled compared with the same period 2025. On the continent, the average spot prices during the first nine months also increased, mainly due to higher prices in the third quarter. Jan-Sep. Jul-Sep. EUR/MWh 2026 2025 Change 2026 2025 Change Nordics 77.5 36.0 115% 74.4 36.0 107% Germany 107.7 88.0 22% 125.5 82.8 52% The Netherlands 108.1 86.5 25% 127.6 80.0 60% NORDIC HYDROLOGY Hydrological balance is a measure of the expected amount of energy that is stored in the form of snow, water reservoirs and groundwater in relation to normal circumstances. Historically, the electricity prices in the Nordics have had a negative correlation with the hydrological balance because the available hydropower capacity usually determines which type of energy is used. The electricity prices in the northern parts of the Nordics are still linked to the hydrological balance, while the correlation to the system price and price development in the southern parts has weakened. NO RDIC HYDROLOGICAL BALANCE (TWh) At the end of the third quarter of 2026, the hydrological balance in the Nordics was below normal. Vattenfall’s reservoir levels amounted to 14.0 TWh (16.4 TWh) at the end of the quarter, which is 0.9 TWh lower than the normal level. NORDIC PRICE AREA DIFFERENCES The electricity market in the Nordics is divided into different price areas. In Sweden, there are four price areas and Vattenfall's hydro power assets are mainly in SE1 and SE2, while the nuclear power assets are in SE3. Vattenfall also has wind power assets, most of which are located in SE4. In Denmark, there are two price areas, and Vattenfall has wind power assets in both areas, DK1 and DK2. The Nordic system price (SYS) is a reference price for all price areas and is calculated by the electricity exchange Nord Pool. Vattenfall hedges a substantive portion of its electricity production against the Nordic system price. Thereby, price area differences have an effect on the company’s result development. S POT PRICES PER PRICE AREA AND SYSTEM PRICE (EUR/MWh) 1Difference between SE1 and SE2 is not visible due to high correlation The price area differences have been on a higher level in the first nine months of 2026 compared with the same period in 2025, mainly due to high continental prices, nuclear outages and transmission limitations. The hydrological situation also varied significantly across the Nordics, further contributing to regional price differences. The higher price area differences together with the hedge prices partially counteracted the positive effect on Vattenfall’s results from higher spot prices. Prices in the northern Sweden have decreased relative to SYS, meaning lower prices for Vattenfall’s production in the north of Sweden, SE1 and SE2, compared with the production in the south of Sweden.

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4 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 -40 -30 -20 -10 0 10 20 2025 2026 Clean Spark Spread NL (52% efficiency) INDICATIVE NORDIC HEDGE PRICES AND VOLUME HEDGE RATIO (SE, DK, FI) AS PER 30 SEPTEMBER 2026 Vattenfall's price hedging strategy is primarily focused on the Nordic generation assets because the primary risk exposure is linked to production of nuclear power and hydro power. The degree of hedging is highest for the next few years and decreases thereafter. 2026 2027 2028 EUR/MWh 40 44 42 Hedge ratio (%) 56 50 19 ACHIEVED NORDIC ELECTRICITY PRICES (SE, DK, FI)1 The achieved price is the average price that Vattenfall received for its electricity production during the period and is impacted by the hedge ratio and hedge price (see above), the spot price and effects from price area differentials. Jan-Sep. Jul-Sep. Full year 2026 2025 2026 2025 2025 EUR/MWh 49 39 36 36 39 Vattenfall's achieved price in the Nordics increased during the first nine months of 2026 driven by higher spot prices. FUEL PRICES Fuel prices have a significant impact on electricity prices in Continental Europe and southern Nordic areas which impacts the generation operations. The price of gas and carbon emission allowances directly affect mainly Vattenfall’s heat operations in the Netherlands. Gas prices also influence the Customers & Solutions operating segment, which is responsible for gas sales to customers. Jan-Sep. Jul-Sep. 2026 2025Change 2026 2025 Change Gas (EUR/MWh) 49.8 38.4 30% 63.3 32.6 94% CO2 (EUR/t) 78.0 71.5 9% 82.2 72.2 14% The price of gas increased during the first nine months of 2026, driven by the conflict in the Middle East and low storage levels that especially resulted in higher prices in the third quarter. The price of emission allowances for carbon dioxide also increased compared to the first nine months of 2025. 1 Achieved prices from the spot market and hedges. Includes Nordic hydro, nuclear and wind power generation PRICE MARGINS The clean spark spread is the margin between the electricity price and the cost of gas and emissions allowances used for its generation. These spreads affect Vattenfall’s heat business in the Netherlands where the fossil-fired combined heat-and power (CHP) plants and condensing plants are located. Gas constitutes a majority of the fuel supply for Vattenfall's heat production, but a smaller share of the company's electricity production. CLEAN SPARK SPREAD (EUR/MWh) The monthly clean spark spread in the Netherlands during the first nine months in 2026 was on average lower compared with the same period in 2025 due to the higher gas prices.

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5 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 25 26 13 3 0.1 30 28 12 5 0.1 0 10 20 30 40 Nuclear Hydro Wind Fossil Biomass, waste Jan-Sep 2026 Jan-Sep 2025 Generation development Total electricity generation decreased by 6.2 TWh to 68.1 TWh (74.3) during the first nine months of 2026. The decrease was mainly driven by lower generation from nuclear power (-4.8 TWh). In addition, generation from fossil based power decreased (-1.9 TWh), mainly as a result of the divestment of the power plants in the IJmond region in the Netherlands on 1 January 2026. Generation from hydro power also decreased (-1.2 TWh). These decreases were partly offset by higher generation from wind power (+1.7 TWh) mainly due to better wind conditions and higher availability for offshore wind power. ELECTRICITY GENERATION (TWh) AVAILABILITY The availability of nuclear power and wind power is not comparable given that different methods are used as generation of electricity from nuclear power is plannable and generation of electricity from wind power is dependent on wind speeds. Availability of nuclear power is calculated as the available generation divided by the generation possible if operating at full capacity during the same period, excluding planned outages. Availability of wind power is calculated as the ratio of actual revenue to the sum of lost revenue and actual revenue. Availability of nuclear power measures performance in terms of production optimisation while for wind the performance is measured in terms of revenue optimisation. Jan-Sep. 2026 2025 Nuclear1 91.5% 94.0% Wind - offshore 94.2% 93.0% Wind – onshore 94.4% 96.3% The availability of Vattenfall’s nuclear power decreased during the first nine months of 2026, primarily due to the outage of Ringhals 3. The availability of offshore wind power increased while the availability of onshore wind power decreased compared with the same period last year. 1) From the second quarter of 2025, nuclear availability is expressed according to UCR (Unit Capability Ratio) which isolates the effect of unplanned outages to give a more accurate picture of technical availability. INSTALLED WIND CAPACITY New installed wind power capacity in the last 12 months amounted to 206 MW and is attributable to Bruzaholm (139 MW) and Velinga (67 MW). 30 Sep 2026 30 Sep 2025 Onshore wind 2,301 2,096 2 Offshore wind 4,454 4,454 Total (MW) 6,755 6,550 Sales development Electricity sales, excluding sales to Nord Pool Spot and deliveries to minority owners, decreased by 20.5 TWh to 66.8 TWh (87.3 TWh) mainly due lower sales to grid operators in France during the first quarter and the divestment of the sales business in France on 31 March 2026. Gas sales decreased by 7.8 TWh to 38.1 TWh (45.9), mainly due to termination of gas sales to the previously owned heat business in Berlin. From the divestment in May 2024, until the end of October 2025, Vattenfall sold gas externally to the company. Heat sales increased by 0.2 TWh to 3.3 TWh (3.1). Jan-Sep. Jul-Sep. 2026 2025 Change 2026 2025 Change Sales of electricity to customers , TWh 66.8 87.3 -23% 19.5 27.8 -30% Sales of gas, TWh 38.1 45.9 -17% 5.4 6.8 -21% Sales of heat, TWh 3.3 3.1 6% 0.6 0.5 20% TEMPERATURE EFFECTS Temperature effects have an impact on the sales volume within the Customers & Solutions operating segment. Lower temperatures usually mean an increased demand for heating (including gas) and electricity. In the Nordic countries, this mainly affects sales of electricity and heat. In Germany and the Netherlands, gas is still the main source of heat, which means that lower temperatures increase the demand for gas in addition to increased heat sales. TEMPERATURE DEVIATION FROM NORMAL LEVELS (ºC) Jan-Sep. Jul-Sep. 2026 2025 2026 2025 Nordics 0.2 1.2 0.5 1.3 Netherlands 1.6 1.1 2.0 0.9 Germany 1.0 1.2 1.4 1.0 During the period January-September 2026, the temperatures in the Nordics were slightly above normal levels, but lower than 2025 due to the cold weather in the beginning of 2026. In the Netherlands and Germany the temperatures were higher than normal, which affected sales negatively. 2) The value has been adjusted compared with information previously published in Vattenfall’s financial reports.

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6 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 Net sales January–September: Consolidated net sales decreased by SEK 19.5 billion (including negative currency effects of SEK 1.9 billion). The decrease is primarily explained by lower revenues from price hedges on the Nordic market, the divestment of the sales business in France, and negative volume effects in the customer sales of electricity and gas. This was partly offset by positive price effects in customer sales of electricity. July–September: Consolidated net sales decreased by SEK 6.3 billion (including positive currency effects of SEK 0.1 billion). The decrease is primarily explained by negative volume effects in the customer sales of electricity, lower revenues from price hedges on the Nordic market, and the divestment of the sales business in France. This was partly offset by positive price effects in customer sales of electricity. Earnings January–September: The underlying operating profit increased by SEK 4.5 billion in total, which is explained by: • Higher earnings contribution from the Wind operating segment (SEK +3.5 billion) mainly explained by higher electricity prices and higher volumes from offshore wind power. • Higher earnings contribution from the Customers & Solutions operating segment (SEK +1.5 billion) mainly due to timing effects related to higher gas grid costs that impacted the customer business in Germany in the same period last year. • Higher earnings contribution from the Distribution operating segment (SEK +0.9 billion), primarily driven by higher revenues as a result of tariff adjustments for the local grid. • Lower earnings contribution from the Power Generation operating segment (SEK -1.6 billion) mainly due to lower volumes from nuclear power and lower revenues from ancillary services, partially offset by higher achieved prices. • Other items, net (SEK +0.2 billion) Items affecting comparability totalled SEK 7.1 billion (-3.6), mainly relating to changes in fair values of energy derivates and inventories (SEK 4.8 billion) and capital gains relating to divestment of Västerbergslagens Energi AB, power plants in the Netherlands and the French sales business (SEK 2.5 billion). See note 4 for further information. Profit for the period amounted to SEK 24.8 billion (13.1) and was in addition to the higher underlying operating profit and items affecting comparability affected by a higher return from the Swedish Nuclear Waste Fund. July–September: The underlying operating profit decreased by SEK 2.3 billion to SEK 3.8 billion. The result was mainly driven by lower contribution from the Power Generation operating segment (SEK -3.6 billion), Customers & Solutions (SEK -0.4 billion) and Distribution (SEK -0.2 billion). This was partially offset by a higher contribution from Wind (SEK +1.8 billion). Items affecting comparability for the third quarter of 2026 amounted to SEK 0.4 billion (-2.8), the majority of which relates to changes in fair values and inventories (SEK 0.7 billion) partially offset by other non-recurring items affecting comparability (SEK -0.3 billion). Cash flow January–September: Cash flow from operating activities before changes in operating assets and liabilities increased by SEK 3.1 billion mainly as a result of higher operating profit before depreciation, amortisation and impairment losses (EBITDA). This was partly offset by an increase in paid tax mainly relating to additional payments for previous tax years. Cash flow from changes in working capital totalled SEK 24.2 billion. The main contributor was the net of received and paid margin calls (SEK +20.0 billion). July–September: Cash flow from operating activities before changes in operating assets and liabilities decreased by SEK 1.5 billion mainly as a result of lower operating profit before depreciation, amortisation and impairment losses (EBITDA) adjusted for non-cash items. Cash flow from changes in working capital totalled SEK +15.4 billion. The main contributors were the net of received and paid margin calls (SEK +9.3 billion) as well as lower operating receivables (SEK +3.2 billion) and higher operating liabilities (SEK +2.9 billion) in the Customers & Solutions segment. KEY FIGURES – GROUP OVERVIEW Jan-Sep Jan-Sep Jul-Sep Jul-Sep Full year Last 12 Amounts in SEK million 2026 2025 2026 2025 2025 months Net sales 148 278 167 781 42 941 49 268 234 915 215 412 Operating profit before depreciation, amortisation and impairment losses (EBITDA)1 49 004 33 899 9 363 8 536 49 236 64 341 Operating profit (EBIT)1 33 058 17 823 4 198 3 388 27 102 42 337 Underlying operating profit1 25 945 21 470 3 813 6 154 30 937 35 412 Items affecting comparability1 7 113 - 3 647 385 - 2 766 - 3 835 6 925 Profit for the period 24 838 13 097 1 309 2 269 19 700 31 441 Funds from operations (FFO)1 34 612 32 833 7 809 9 795 46 145 47 924 Cash flow from changes in operating assets and operating liabilities (working capital) 24 231 - 11 380 15 443 3 195 - 18 602 17 009 Cash flow from operating activities 56 650 17 962 22 522 11 758 23 245 61 933 1) See Definitions and calculations of key ratios for definitions of Alternative Performance Measures.

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7 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 0 20 40 60 80 100 0 20,000 40,000 60,000 80,000 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 %MSEK Adjusted net debt, MSEK FFO/adjusted net debt, % -20,000 0 20,000 40,000 60,000 80,000 100,000 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026M SEK Interest-bearing liabilities, MSEK Net debt, MSEK Capital structure As of 30 September 2026, cash, cash equivalents and short-term investments and margin receivables amounted to SEK 84.2 billion, an increase of SEK 28.9 billion compared to SEK 55.2 billion as per 31 December 2025. Vattenfall’s credit facilities consist of a EUR 2.0 billion Revolving Credit Facility maturing 2028 and a EUR 1.0 billion facility maturing in November 2027. As per 30 September 2026, available liquid assets, including the credit facilities amounted to 53.1% of net sales. Vattenfall’s policy is to maintain liquidity sources to cover the higher of 10% of the Group’s annual turnover, or 45-days’ stressed liquidity needs. Net debt decreased by SEK 23.1 billion to net cash of SEK 11.4 billion as per 30 September 2026 compared to net debt of SEK 11.7 billion as per 31 December 2025. Adjusted net debt amounted to SEK 64.6 billion, a decrease of SEK 8.8 billion compared to 31 December 2025. The decrease is mainly explained by positive cash flow from operating activities before changes in working capital (SEK 32.4 billion) partly offset by negative cash flow from investments excluding short-term investments (SEK 23.0 billion). Vattenfall has hybrid bonds of SEK 21.5 billion outstanding. One of the hybrid bonds, amounting to EUR 1 billion (SEK 11.3 billion), has its first call date on 19 March 2027. Vattenfall intends to redeem the hybrid bond at its first call date using cash on balance sheet, after which SEK 10.1 billion of hybrid capital will remain outstanding. The planned reduction in hybrid capital is a result of Vattenfall’s continued balance sheet strengthening. While reducing the amount outstanding, Vattenfall continues to consider hybrid capital a permanent part of its capital structure. NET DEBT ADJUSTED NET DEBT

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8 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 Strategic focus areas and targets for 2030 Strategic focus area Targets for 2030 Outcome Q3 2026 Outcome 2025 Driving decarbonisation with our customers and partners Customer engagement, Net Promoter Score (NPS)1: +20 - +19 Securing fossil-free energy supply Absolute CO2e emissions (includes scope 1, 2 and 3)2,3: 18.9 Mt. 13.44,6 23.75,6 Motivating and empowering our people Total recordable injury frequency (TRIF+) with a zero fatality threshold3: <2.0 Employee Engagement Index1,3: 86 Driving diverse leadership8: 40% 3.27 - 35 3.5 85 34 Conduct high-performing operations9 Funds From Operations (FFO)/adjusted net debt10,11,12 ≥25% 74.1%7 62.8%13 Return On Capital Employed (ROCE) excl. items affecting comparability10,12: ≥8% 11.6%7 10.2%13 1) Reported on an annual basis. 2) Strategic target based on near-term science-based targets; updated in line with the mandatory adjustments of SBTi-approved targets following a 1.5˚C trajectory. This means that our ambition level stays the same. 3) For target definition and methodology see page 12 of Vattenfall’s Annual and Sustainability report 2025. 4) The value reflects emissions during the period January-September 2026. 5) The value reflects emissions during the period January-December 2025. 6) As a result of divestments, updated emission factors, and improved contract classification, an update of the baseline was tri ggered in line with SBTi requirements. The outcomes have been adjusted accordingly. 7) Rolling 12-month values. 8) Metric measured by the Female Manager Ratio. 9) Financial targets set over a business cycle, 5-7 years. 10) For definition see page 31. 11) The previously reported key ratio FFO has been removed and adjusted FFO is referred to as FFO from the first quarter of 2026. The definition of FFO has also been updated. For reconciliation and more information, see supplementary information in connection with the consolidated stat ement of cash flows. The target level of ≥25% over a business cycle was met for the above periods both before and after the update of FFO. See Definitions of key ratios for more information. 12) The key ratio has been adjusted and prior periods have been restated, see Definitions of key ratios for more information. 13) The value has been adjusted compared with information previously published in Vattenfall’s financial reports.

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9 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 Operating segments Jan-Sep Jan-Sep Jul-Sep Jul-Sep Full year Last 12 Amounts in SEK million 2026 2025 2026 2025 2025 months Underlying EBIT Customers & Solutions 5 425 3 941 706 1 091 4 885 6 369 - of which, heat operations 125 510 - 433 - 219 894 509 Power Generation 11 275 12 884 284 3 856 17 402 15 793 - of which, trading result 1 376 970 219 269 1 787 2 193 Wind 6 329 2 845 2 320 552 6 079 9 563 Distribution 3 198 2 257 546 698 3 280 4 221 Other1 - 308 - 493 - 56 - 50 - 745 - 560 Eliminations 26 36 13 7 36 26 Underlying operating profit 25 945 21 470 3 813 6 154 30 937 35 412 1) “Other” pertains mainly to all Staff functions, including Treasury, Shared Service Centres and capital gains and -losses from divestment of shares.

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10 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 Customers & Solutions The Customers & Solutions Business Area is responsible for Vattenfall’s customer relations, heat plants and gas-fired condensing plants as well as sales of electricity, gas, heat and energy services. Strengthened offering within electric vehicle charging • Expansion of Vattenfall’s public charging network for electric vehicles in Sweden through acquisition of Nima Energy’s ultra-fast charging business • Launch of the new solution Seamless Charging which simplifies charging of electric vehicles Q1-Q3: Net sales decreased by 3%, compared with the same period in 2025. Underlying operating profit increased by 38%, primarily attributable to the customer business in Germany due to timing effects related to the higher gas grid costs imposed in 2025. In addition, a positive price effect in the Dutch customer business as well as a higher utilisation rate and increased income from green certificates within e-mobility contributed. The comparison was negatively affected by the divestments of the sales business in France and the power plants in the IJmond region in the Netherlands. Despite the divestment of the sales business in France, the customer base increased by 1% compared to the end of 2025, to 12 million contracts. This was mainly driven by growth of the customer base in Germany. Electricity sales decreased by 21% largely driven by the divestment of the sales business in France. Sales of gas increased by 3% mainly driven by higher volumes to business customers in the Netherlands and growth of the customer base in Germany. Q3: Net sales decreased by 5% compared with the same quarter last year. Underlying operating profit decreased by 35% mainly driven by higher wholesale prices in Germany and divestment of the power plants in the IJmond region in the Netherlands. Electricity sales decreased by 28% mainly due to the divestment of the sales business in France. Sales of gas decreased by 5% mainly driven by the divestment of the sales business in France as well as a lower number of gas customers in the Netherlands. Vattenfall has strengthened its position in the Swedish market for public charging for electric vehicles through the acquisition of Nima Energy’s ultra-fast charging business. The agreement, which was signed in July, adds 178 ultra-fast charging points currently in operation and additionally 254 planned charging points. The deal expands Vattenfall’s footprint in key growth markets such as Stockholm and Malmö while supporting its ambition to build a leading European charging network. Seamless Charging, a new solution launched in the third quarter, enables electric vehicle drivers to start and stop charging automatically without using charging cards or apps. The service has already been tested by more than 700 drivers in the Netherlands, Sweden and Germany and the solution will now be rolled out stepwise to more customers. KEY FIGURES – CUSTOMERS & SOLUTIONS Jan-Sep Jan-Sep Jul-Sep Jul-Sep Full year Last 12 Amounts in SEK million unless indicated otherwise 2026 2025 2026 2025 2025 months Net sales 126 563 131 049 33 599 35 255 181 551 177 065 External net sales 115 216 119 503 30 331 32 108 166 183 161 896 Underlying EBITDA 7 341 5 919 1 359 1 742 7 563 8 985 Underlying EBIT 5 425 3 941 706 1 091 4 885 6 369 Electricity generation - TWh 3.2 5.1 0.8 1.6 7.3 5.4 - of which, fossil-based power 3.1 5.0 0.8 1.6 7.1 5.2 - of which, biomass, waste 0.1 0.1 — — 0.2 0.2 Sales of electricity, TWh 63.3 80.6 18.5 25.6 108.2 90.9 - of which, private customers 19.0 19.3 4.9 5.2 26.2 25.9 - of which, resellers 8.3 21.5 2.2 6.6 28.9 15.7 - of which, business customers 36.0 39.8 11.4 13.8 53.1 49.3 Sales of gas, TWh 38.1 37.1 5.4 5.7 54.9 55.9 Sales of heat, TWh 3.3 3.1 0.6 0.5 4.5 4.7 Number of employees, full-time equivalents 5 297 5 560 5 297 5 560 5 518

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11 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 Power Generation Power Generation comprises the Generation and Markets Business Areas. The segment includes Vattenfall’s hydro and nuclear power operations as well as optimisation and trading operations including certain large business customers. The result from hedging of the Group’s net exposure in electricity and fuel is reported in this segment. Lower earnings following nuclear outages • Outages at Ringhals 3 and Ringhals 4 nuclear reactors • New long-term agreements for large-scale battery optimisation in Germany and the Netherlands • Marketing of balancing power from an offshore wind farm in Germany supports grid stability Q1-Q3: Net sales decreased by 15% compared with the same period 2025. Underlying operating profit decreased by 12%, mainly due to a lower result from Nordic hedges. This was offset by a positive effect from higher electricity prices affecting hydro power generation and nuclear power generation. In addition, there was a higher contribution from trading. This was partly offset by lower volumes primarily from nuclear power and lower revenues from ancillary services. Q3: Net sales decreased by 6% compared with the same quarter last year. Underlying operating profit decreased by 93%, mainly due to a lower result from Nordic hedges compared with the same period last year as well as lower volumes from hydro power and nuclear power due to outages at Ringhals. This was partly offset by the positive impact of higher electricity prices on Nordic nuclear and hydro power generation. The outage at Ringhals 3 was extended until 18 November because of prolonged maintenance. Ringhals 4 entered its outage earlier than planned, on 19 August and the outage is currently planned to continue until 20 November. Vattenfall has expanded its third-party large-scale battery storage optimisation portfolio through a series of long-term agreements in the Netherlands and Germany. New partnerships include optimisation contracts for Return's 200 MW/800 MWh Sirius battery project and Vopak's 100 MW/400 MWh Beluga project in the Netherlands, as well as an optimisation agreement for a 285 MW battery portfolio consisting of four facilities in Germany. These agreements strengthen Vattenfall's flexibility offering and support both grid stability and the integration of renewable electricity into the energy system. Vattenfall has started marketing balancing power from an offshore wind farm in Germany, making 200 MW of balancing capacity from the 416 MW Veja Mate offshore wind farm available to support grid stability. This marks an important milestone, demonstrating how renewable energy assets can provide not only fossil-free electricity but also critical system services, thereby supporting the transition to a more resilient and flexible energy system. KEY FIGURES – POWER GENERATION Jan-Sep Jan-Sep Jul-Sep Jul-Sep Full year Last 12 Amounts in SEK million unless indicated otherwise 2026 2025 2026 2025 2025 months Net sales 90 181 106 321 28 137 29 868 150 969 134 829 External net sales 17 025 31 697 7 786 12 025 45 652 30 980 Underlying EBITDA 15 082 16 625 1 563 5 110 22 445 20 902 Underlying EBIT 11 275 12 884 284 3 856 17 402 15 793 - of which, trading result 1 376 970 219 269 1 787 2 193 Electricity generation, TWh 51.5 57.5 13.7 18.4 77.5 71.5 - of which, hydro power 26.3 27.5 7.3 9.5 37.3 36.1 - of which, nuclear power 25.2 30.0 6.4 8.9 40.2 35.4 Sales of electricity, TWh 3.3 6.1 1.1 2.0 7.4 4.6 - of which, resellers — 4.6 — 1.5 5.4 0.8 - of which, business customers 3.3 1.5 1.1 0.5 2.0 3.8 Sales of gas, TWh — 8.8 — 1.1 10.1 1.3 Number of employees, full-time equivalents 5 658 5 531 5 658 5 531 5 561

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12 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 Wind The Wind Business Area is responsible for development, construction and operation of Vattenfall’s wind farms as well as solar power parks and batteries. Advancing renewable energy and flexibility • Vattenfall won the tenders of the Hesselø (0.8 GW) and North Sea I Mid (1 GW) offshore wind projects in Denmark • Final investment decision for the Brunsbüttel battery project in Germany with output of 254 MW and storage capacity of 1,070 MWh • Offshore construction started of the Nordlicht I wind farm (1 GW) in the German North Sea Q1-Q3: Net sales increased by 28% compared with the same period in 2025. The underlying operating profit increased by 122% driven by higher electricity prices and higher volumes, partly offset by higher operating and maintenance costs. Electricity generation increased by 15% mainly due to improved wind conditions and higher availability for offshore wind power. Onshore wind production increased driven by new wind farms in Sweden. Q3: Net sales increased by 28% compared with the same quarter last year. The underlying operating profit increased by 320% driven by higher electricity prices. Electricity generation increased by 4% due to slightly higher volumes from offshore wind power and due to new commissioned onshore wind farms. In August, Vattenfall won the tenders for the Danish offshore wind projects Hesselø and North Sea I Mid. With a combined minimum capacity of 1.8 GW, the projects strengthen Vattenfall's growth pipeline and position in a key offshore wind market. The Hesselø wind farm will be located in the Kattegat Sea and have a minimum installed capacity of 0.8 GW, while North Sea I Mid will be located in the North Sea and have a minimum installed capacity of 1.0 GW. Commissioning of the wind farms is expected in 2032. In September, the final investment decision was taken on Vattenfall’s largest battery project to date. The Brunsbüttel storage facility in Germany will have an output of 254 MW and a storage capacity of around 1,070 MWh. Expected online by end- 2028, the project will nearly double Vattenfall's battery portfolio and support grid stability and integration of renewable electricity into the energy system. In July, construction started of Germany's largest offshore wind project, with the first monopile installed for Nordlicht I. The 1.6 GW Nordlicht cluster is expected to generate around 6 TWh of fossil-free electricity annually from 2028, supporting Europe's energy transition, competitiveness and energy security. In Germany, Vattenfall has also acquired a 43 MW onshore wind project from ABO energy. The Dittelsheim/Heßloch wind farm will be located next to Vattenfall’s Mettenheim wind farm (24 MW), currently in development, and the two projects will share grid connection. KEY FIGURES – WIND Jan-Sep Jan-Sep Jul-Sep Jul-Sep Full year Last 12 Amounts in SEK million unless indicated otherwise 2026 2025 2026 2025 2025 months Net sales 19 573 15 327 6 378 4 980 22 885 27 131 External net sales 1 315 2 694 565 871 3 825 2 446 Underlying EBITDA 12 828 9 187 4 370 2 657 14 493 18 134 Underlying EBIT 6 329 2 845 2 320 552 6 079 9 563 Electricity generation - wind power TWh1 13.4 11.7 3.9 3.8 17.3 19.0 Sales of electricity, TWh 0.2 0.6 - 0.1 0.2 0.9 0.5 Number of employees, full-time equivalents 1 856 1 831 1 856 1 831 1 849 1) Including electricity generation from solar power.

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13 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 Distribution The Distribution Business Area consists of Vattenfall’s regulated electricity distribution operations as well as Vattenfall’s service operations business. Investments to strengthen and extend the electricity grid • Permit in place for a new power line section to the Svartön industrial area in Luleå, Sweden, which enables further industry decarbonisation • Plan published for grid development projects over the next ten years to meet growing capacity needs • Progress in grid reinforcement projects in West Sweden Q1-Q3: Net sales increased by 5% compared with the same period 2025. Underlying operating profit increased by 42%, primarily driven by higher revenue as a result of tariff adjustments in the local grid. Q3: Net sales were in line with the third quarter 2025. Underlying operating profit decreased by 22%, primarily driven by higher costs for the transmission grid, lower revenues from the regional grid due to changes in the tariff profile, and increased depreciation. These effects were partly offset by higher revenue as a result of tariff adjustments for the local grid. In September, Vattenfall Eldistribution received the final permit required for the planned regional grid reinforcements in Luleå, Sweden. The permit covers a new power line route between Hällmyran and the Svartön industrial area. Permits had previously been granted for the regional grid lines between Hällmyran and Hertsöfältet. As a result, all permits are now in place for the expansion project which, together with the new substation in Hällmyran, will create the conditions necessary for industrial electrification and SSAB’s transition to fossil-free steel production. Construction is planned to start in 2027, and the transmission lines are expected to be in operation in early 2029. Vattenfall Eldistribution is making large investments in the renewal, strengthening and extension of the electricity grid and this is reflected in the Grid Development Plan for 2027–2036. The plan outlines how the electricity grid needs to develop to meet growing capacity needs and includes more than 450 grid capacity enhancement projects, alongside the continued renewal of existing grid infrastructure. In September, a public consultation period for the plan started, and Vattenfall Eldistribution’s final plan will be put forward to the Energy Market Inspectorate by year-end. In West Sweden, several projects to increase electricity grid capacity were completed during the quarter. The projects cover grid reinforcements between Stenungsund, Trollhättan and Lilla Edet, and enable continued electrification and new grid connections in the area. KEY FIGURES – DISTRIBUTION Jan-Sep Jan-Sep Jul-Sep Jul-Sep Full year Last 12 Amounts in SEK million unless indicated otherwise 2026 2025 2026 2025 2025 months Net sales 15 133 14 457 4 394 4 447 20 035 20 711 External net sales 14 404 13 401 4 195 4 125 18 607 19 610 Underlying EBITDA 5 968 4 826 1 483 1 569 6 773 7 915 Underlying EBIT 3 198 2 257 546 698 3 280 4 221 Number of employees, full-time equivalents 4 134 4 356 4 134 4 356 4 326

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14 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 Other Other pertains mainly to all Staff functions, including Treasury, Shared Service Centres and capital gains and -losses from divestment of shares. Net sales consist primarily of revenues attributable to Vattenfall’s service organisations such as Shared Services, IT and Vattenfall Insurance. KEY FIGURES – OTHER Jan-Sep Jan-Sep Jul-Sep Jul-Sep Full year Last 12 Amounts in SEK million unless indicated otherwise 2026 2025 2026 2025 2025 months Net sales 8 089 8 104 2 732 2 657 11 175 11 160 External net sales 317 486 63 139 648 479 Underlying EBITDA 424 313 190 217 247 358 Underlying EBIT - 308 - 493 - 56 - 50 - 745 - 560 Number of employees, full-time equivalents 3 622 3 594 3 622 3 594 3 615

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15 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 Consolidated income statement Jan-Sep Jan-Sep Jul-Sep Jul-Sep Full year Last 12 Amounts in SEK million 2026 2025 2026 2025 2025 months Net sales 148 278 167 781 42 941 49 268 234 915 215 412 Cost of purchases - 72 441 - 103 969 - 24 169 - 31 046 - 145 015 - 113 487 Other external expenses - 11 181 - 12 605 - 3 654 - 4 030 - 17 929 - 16 505 Personnel expenses - 18 301 - 18 155 - 5 476 - 5 689 - 24 288 - 24 434 Other operating income and expenses, net 2 526 663 - 60 124 1 187 3 050 Share of profit from associated companies and joint ventures 123 184 - 219 - 91 366 305 Operating profit before depreciation, amortisation and impairment losses (EBITDA) 49 004 33 899 9 363 8 536 49 236 64 341 Depreciation, amortisation and impairments - 15 946 - 16 076 - 5 165 - 5 148 - 22 134 - 22 004 Operating profit (EBIT) 33 058 17 823 4 198 3 388 27 102 42 337 Financial income 1 736 2 151 898 616 2 956 2 541 Financial expenses - 4 713 - 4 452 - 1 791 - 1 396 - 6 086 - 6 347 Return from the Swedish Nuclear Waste Fund 2 707 1 773 - 901 418 2 011 2 945 Profit before income taxes 32 788 17 295 2 404 3 026 25 983 41 476 Income taxes - 7 950 - 4 198 - 1 095 - 757 - 6 283 - 10 035 Profit for the period 24 838 13 097 1 309 2 269 19 700 31 441 Attributable to owner of the parent company 24 258 12 434 1 453 2 164 18 614 30 438 Attributable to non-controlling interests 580 663 - 144 105 1 086 1 003 Supplementary information Underlying EBITDA1,2 41 669 36 906 8 978 11 302 51 557 56 320 Underlying EBIT1,2 25 945 21 470 3 813 6 154 30 937 35 412 Adjusted profit for the period2 19 156 13 923 1 743 4 060 19 849 25 082 1) See Note 4 for information on items affecting comparability. 2) See Definitions of key ratios for more information.

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16 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 Consolidated statement of comprehensive income Jan-Sep Jan-Sep Jul-Sep Jul-Sep Full year Last 12 Amounts in SEK million 2026 2025 2026 2025 2025 months Profit for the period 24 838 13 097 1 309 2 269 19 700 31 441 Other comprehensive income Items that may be reclassified to the income statement Cash flow hedges - Changes in fair value 22 525 - 10 858 16 272 - 1 695 - 13 609 19 774 - Transferred to the income statement - 4 039 4 263 - 3 450 871 6 889 - 1 413 - Transferred to the balance sheet 28 4 - 1 3 17 41 Hedging of net investments in foreign operations - 1 801 1 730 - 947 456 2 530 - 1 001 Exchange rate differences, divested companies 13 — 1 — - 58 - 45 Exchange rate differences 6 537 - 5 999 3 338 - 1 455 - 8 933 3 603 Income taxes related to items that may be reclassified - 5 706 1 302 - 3 855 35 1 105 - 5 903 Total items that may be reclassified to the income statement 17 557 - 9 558 11 358 - 1 785 - 12 059 15 056 Items that will not be reclassified to the income statement Remeasurement of defined benefit obligations 1 761 444 1 876 - 1 1 559 2 876 Income taxes related to items that will not be reclassified - 495 - 136 - 480 — - 687 - 1 046 Total items that will not be reclassified to the income statement 1 266 308 1 396 - 1 872 1 830 Total other comprehensive income, net after income taxes 18 823 - 9 250 12 754 - 1 786 - 11 187 16 886 Total comprehensive income for the period 43 661 3 847 14 063 483 8 513 48 327 - Whereof attributable to owner of the parent company 42 276 3 990 13 781 550 8 560 46 846 - Whereof attributable to non-controlling interests 1 385 - 143 282 - 67 - 47 1 481

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17 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 Operating segments, Vattenfall Group Jan-Sep Jan-Sep Jul-Sep Jul-Sep Full year Last 12 Amounts in SEK million 2026 2025 2026 2025 2025 months Total net sales Customers & Solutions 126 563 131 049 33 599 35 255 181 551 177 065 - of which external sales 115 216 119 503 30 331 32 108 166 183 161 896 Power Generation 90 181 106 321 28 137 29 868 150 969 134 829 - of which external sales 17 025 31 697 7 786 12 025 45 652 30 980 Wind 19 573 15 327 6 378 4 980 22 885 27 131 - of which external sales 1 315 2 694 565 871 3 825 2 446 Distribution 15 133 14 457 4 394 4 447 20 035 20 711 - of which external sales 14 404 13 401 4 195 4 125 18 607 19 610 Other1 8 089 8 104 2 732 2 657 11 175 11 160 - of which external sales 317 486 63 139 648 479 Eliminations - 111 261 - 107 477 - 32 299 - 27 939 - 151 700 - 155 484 Total net sales 148 278 167 781 42 941 49 268 234 915 215 412 Operating profit before depreciation, amortisation and impairment losses (EBITDA) Customers & Solutions 7 836 5 896 1 707 1 731 7 529 9 469 Power Generation 20 137 13 384 2 096 2 231 19 528 26 281 Wind 12 638 9 316 4 180 2 753 14 493 17 815 Distribution 5 979 4 832 1 494 1 571 6 782 7 929 Other1 2 388 435 - 127 243 868 2 821 Eliminations 26 36 13 7 36 26 Total 49 004 33 899 9 363 8 536 49 236 64 341 Underlying EBITDA Customers & Solutions 7 341 5 919 1 359 1 742 7 563 8 985 Power Generation 15 082 16 625 1 563 5 110 22 445 20 902 Wind 12 828 9 187 4 370 2 657 14 493 18 134 Distribution 5 968 4 826 1 483 1 569 6 773 7 915 Other1 424 313 190 217 247 358 Eliminations 26 36 13 7 36 26 Total 41 669 36 906 8 978 11 302 51 557 56 320 Operating profit (EBIT) Customers & Solutions 5 742 3 918 1 053 1 080 4 089 5 913 Power Generation 16 329 9 644 817 978 14 486 21 171 Wind 6 139 2 334 2 130 648 5 327 9 132 Distribution 3 166 2 263 557 700 3 289 4 192 Other1 1 656 - 372 - 372 - 25 - 125 1 903 Eliminations 26 36 13 7 36 26 Total2 33 058 17 823 4 198 3 388 27 102 42 337 Underlying EBIT Customers & Solutions 5 425 3 941 706 1 091 4 885 6 369 Power Generation 11 275 12 884 284 3 856 17 402 15 793 Wind 6 329 2 845 2 320 552 6 079 9 563 Distribution 3 198 2 257 546 698 3 280 4 221 Other1 - 308 - 493 - 56 - 50 - 745 - 560 Eliminations 26 36 13 7 36 26 Total 25 945 21 470 3 813 6 154 30 937 35 412 1) “Other” pertains mainly to all Staff functions, including Treasury, Shared Service Centres and capital gains and -losses from divestment of shares. 2) Total operating profit plus financial net in the consolidated income statement amount to profit before tax.

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18 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 Consolidated balance sheet 30 Sep 30 Sep 31 Dec Amounts in SEK million 2026 2025 2025 Assets Non-current assets Property, plant and equipment 289 801 275 109 275 353 Goodwill 15 372 15 150 14 848 Other intangible assets 5 088 3 686 4 303 Participations in associated companies and joint ventures 5 814 4 864 4 912 Other shares and participations 206 203 199 Share in the Swedish Nuclear Waste Fund 59 839 57 866 58 201 Derivative assets 9 397 3 881 3 898 Deferred tax assets 8 888 15 954 6 100 Other assets 3 855 3 316 3 165 Total non-current assets 398 260 380 029 370 979 Current assets Inventories 28 819 24 627 27 605 Trade receivables and other receivables 34 496 31 208 35 791 Prepaid expenses and accrued income 15 253 14 172 16 058 Other assets 2 126 1 615 1 899 Current tax assets 792 1 159 746 Margin receivables 3 089 3 428 2 879 Derivative assets 28 332 5 930 5 959 Short-term investments 42 692 36 788 37 325 Cash and cash equivalents 39 831 33 293 15 931 Assets held for sale 892 752 2 841 Total current assets 196 322 152 972 147 034 Total assets 594 582 533 001 518 013 Equity and liabilities Equity Attributable to owner of the parent company 206 881 167 902 172 676 Attributable to non-controlling interests 26 320 27 167 26 718 Total equity 233 201 195 069 199 394 Non-current liabilities Hybrid Capital1 21 471 20 902 20 539 Other interest-bearing liabilities 34 835 39 309 33 338 Derivative liabilities 9 299 6 720 6 543 Interest-bearing provisions 122 659 124 834 122 710 Pension provisions 23 760 26 697 25 122 Deferred tax liabilities 26 162 21 358 13 936 Other non interest-bearing liabilities 16 799 14 668 15 283 Total non-current liabilities 254 985 254 488 237 471 Current liabilities Trade payables and other liabilities 25 934 23 733 23 995 Other interest-bearing liabilities 16 319 18 230 13 404 Derivative liabilities 29 240 9 354 7 958 Interest-bearing provisions 3 240 2 723 3 166 Accrued expenses and deferred income 23 137 23 578 25 516 Other non interest-bearing liabilities 2 014 1 667 1 696 Margin liabilities 2 257 866 360 Current tax liabilities 3 644 3 273 3 306 Liabilities associated with assets held for sale 611 20 1 747 Total current liabilities 106 396 83 444 81 148 Total equity and liabilities 594 582 533 001 518 013 1) Vattenfall intends to redeem the hybrid bond amounting to EUR 1 billion (SEK 11.3 billion) at its first call date on 19 March 2027, thereby reducing outstanding hybrid capital accordingly. For more information see the Capital structure section.

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19 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 SUPPLEMENTARY INFORMATION 30 Sep 30 Sep 31 Dec Amounts in SEK million 2026 2025 2025 Calculation of capital employed Property, plant and equipment 289 801 275 109 275 353 Goodwill 15 372 15 150 14 848 Other intangible assets 5 088 3 686 4 303 Participations in associated companies and joint ventures 5 814 4 864 4 912 Deferred and current tax assets 9 680 17 113 6 846 Inventories 28 819 24 627 27 605 Trade receivables and other receivables 34 496 31 208 35 791 Prepaid expenses and accrued income 15 253 14 172 16 058 Unavailable liquidity 3 815 4 081 3 890 Other assets (non-interest-bearing) 4 165 3 122 3 524 Total assets included in capital employed 412 303 393 132 393 130 Deferred and current tax liabilities - 29 806 - 24 631 - 17 242 Other non-interest-bearing liabilities - 18 813 - 16 335 - 16 979 Trade payables and other liabilities - 25 934 - 23 733 - 23 995 Accrued expenses and deferred income - 23 137 - 23 578 - 25 516 Total non interest-bearing liabilities - 97 690 - 88 277 - 83 732 Other interest-bearing provisions not related to adjusted net debt 1 - 5 564 - 5 172 - 5 205 Adjustment related to assets/liabilities held for sale 277 732 1 055 Capital employed2 309 326 300 415 305 248 Capital employed, average 304 871 293 546 304 650 Calculation of net debt Hybrid Capital - 21 471 - 20 902 - 20 539 Other interest-bearing liabilities - 51 154 - 57 539 - 46 742 Margin liabilities, interest rate and currency derivatives - 776 - 183 - 197 Total interest-bearing liabilities - 73 401 - 78 624 - 67 478 Cash and cash equivalents 39 831 33 293 15 931 Short-term investments incl. margin receivables treasury 44 351 38 987 39 355 Loans to owners of non-controlling interests in foreign Group companies 584 576 464 Net debt2 11 365 - 5 768 - 11 728 Calculation of adjusted net debt Total interest-bearing liabilities - 73 401 - 78 624 - 67 478 Less 50% of Hybrid Capital3 10 735 10 451 10 270 Pension obligations - 23 760 - 26 697 - 25 122 Dismantling and other environmental provisions - 18 629 - 16 203 - 16 850 Provisions for nuclear power (net)4 - 35 560 - 41 065 - 38 776 Less margin calls received treasury 776 183 197 Less liabilities to owners of non-controlling interests 8 294 7 403 7 645 Adjustment related to assets/liabilities held for sale 3 20 39 Adjusted interest-bearing liabilities - 131 542 - 144 532 - 130 075 Cash and cash equivalents and short-term investments incl. margin receivables treasury 84 182 72 280 55 286 Less margin calls energy trading - 13 469 3 963 5 237 Unavailable liquidity - 3 815 - 4 081 - 3 890 Adjusted interest-bearing assets 66 898 72 162 56 633 Adjusted net debt2 - 64 644 - 72 370 - 73 442 1) Includes personnel-related provisions for non-pension purposes, provisions for tax and legal disputes and certain other provisions. 2) See Definitions and calculations of key ratios for definitions of Alternative Performance Measures. 3) 50% of Hybrid Capital is treated as equity by the rating agencies, which thereby reduces adjusted net debt. 4) The calculation is based on Vattenfall’s share of ownership in the respective nuclear power plants, less Vattenfall’s share i n the Swedish Nuclear Waste Fund and liabilities relating to funding of decommissioning obligations in Stade and Brokdorf. Vattenfall has the following ownership interests in the respective plants: Forsmark 66%, Ringhals 70.4%, Brokdorf 20%, Brunsbüttel 66.7%, Krümmel 50% and Stade 33.3%. (According to a special agreement, Vattenfall is responsible for 100% of the provisions for Ringhals.)

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20 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 Consolidated statement of cash flows Jan-Sep Jan-Sep Jul-Sep Jul-Sep Full year Last 12 Amounts in SEK million 2026 2025 2026 2025 2025 months Operating activities Operating profit before depreciation, amortisation and impairment losses (EBITDA) 49 004 33 899 9 363 8 536 49 236 64 341 Tax paid - 4 580 - 1 697 - 1 241 - 642 - 1 911 - 4 794 Capital gains/losses, net - 2 480 - 121 - 12 - 27 - 615 - 2 974 Interest received 1 308 1 742 271 462 2 237 1 803 Interest paid - 2 364 - 2 434 - 607 - 523 - 3 383 - 3 313 Other, incl. non-cash items - 8 469 - 2 047 - 695 757 - 3 717 - 10 139 Cash flow from operating activities before changes in working capital 1 32 419 29 342 7 079 8 563 41 847 44 924 Changes in inventories - 527 258 2 120 1 062 - 907 - 1 692 Changes in operating receivables 2 845 9 024 2 718 4 766 - 2 488 - 8 667 Changes in operating liabilities 2 621 - 8 661 3 268 1 368 - 1 828 9 454 Changes in margin calls 20 020 - 11 615 9 279 - 4 115 - 13 083 18 552 Other changes - 728 - 386 - 1 942 114 - 296 - 638 Cash flow from changes in working capital 24 231 - 11 380 15 443 3 195 - 18 602 17 009 Cash flow from operating activities 56 650 17 962 22 522 11 758 23 245 61 933 Investing activities Acquisitions in Group companies - 494 - 1 078 - 344 - 35 - 1 089 - 505 Investments in associated companies and other shares and participations - 1 642 - 54 - 580 - 12 - 206 - 1 794 Investments in property, plant and equipment - 23 239 - 18 229 - 9 313 - 6 700 - 27 290 - 32 300 Investments in intangible assets - 1 646 - 1 063 - 534 - 355 - 1 825 - 2 408 Total investments - 27 021 - 20 424 - 10 771 - 7 102 - 30 410 - 37 007 Divestments 3 976 672 397 37 1 477 4 781 Changes in short-term investments - 3 178 11 060 - 11 409 3 505 9 698 - 4 540 Changes in interest-bearing receivables — 3 135 — - 4 3 121 - 14 Cash flow from investing activities - 26 223 - 5 557 - 21 783 - 3 564 - 16 114 - 36 780 Cash flow before financing activities 30 427 12 405 739 8 194 7 131 25 153 Financing activities Changes in loans to owners of non-controlling interests in foreign Group companies - 94 - 343 85 84 - 239 10 Loans raised2 18 255 7 093 12 037 31 7 163 18 325 Amortisation of debt pertaining to acquisitions of Group companies — - 12 — - 8 - 151 - 139 Amortisation of other debt2 - 15 806 - 12 122 - 2 504 - 497 - 23 000 - 26 684 Acquisitions of shares in Group companies from owners of non-controlling interests - 88 — — — - 13 - 101 Dividends paid to owners - 8 721 - 7 991 - 202 - 328 - 8 448 - 9 178 Contribution to owners of non-controlling interests - 659 - 562 - 12 - 5 - 1 175 - 1 272 Contribution from owners of non-controlling interests — 38 — — 38 — Cash flow from financing activities - 7 113 - 13 899 9 404 - 723 - 25 825 - 19 039 Cash flow for the period 23 314 - 1 494 10 143 7 471 - 18 694 6 114 Cash and cash equivalents Cash and cash equivalents at start of period 15 931 35 117 29 442 25 888 35 117 33 293 Cash and cash equivalents included in assets held for sale 56 — — — - 59 - 3 Cash flow for the period 23 314 - 1 494 10 143 7 471 - 18 694 6 114 Translation differences 530 - 330 246 - 66 - 433 427 Cash and cash equivalents at end of period 39 831 33 293 39 831 33 293 15 931 39 831 1) As from the first quarter of 2026, this subtotal is referred to as Cash flow from operating activities before changes in work ing capital, instead of Funds from operations (FFO). For further information, see Definitions of key ratios. 2) Short-term borrowings in which the duration is three months or shorter are reported net.

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21 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 SUPPLEMENTARY INFORMATION Jan-Sep Jan-Sep Jul-Sep Jul-Sep Full year Last 12 Amounts in SEK million 2026 2025 2026 2025 2025 months FFO (funds from operations) Cash flow from operating activities before changes in working capital 32 419 29 342 7 079 8 563 41 847 44 924 Net payments to/from the Swedish Nuclear Waste Fund - 1 068 443 - 454 363 539 - 972 Payments for provisions affecting adjusted net debt 4 641 4 601 1 398 1 202 6 382 6 422 Dividends paid to owners of non-controlling interests - 721 - 991 - 202 - 328 - 1 448 - 1 178 Contribution to owners of non-controlling interests - 659 - 562 - 12 - 5 - 1 175 - 1 272 FFO (funds from operations)1,2 34 612 32 833 7 809 9 795 46 145 47 924 Cash flow after dividend Cash flow before financing activities 30 427 12 405 739 8 194 7 131 25 153 Change in margin calls from financing operations - 370 303 - 150 - 78 135 - 538 Changes in short-term investments 3 178 - 11 060 11 409 - 3 505 - 9 698 4 540 Acquisitions of shares in Group companies from owners of non-controlling interests - 88 — — — - 13 - 101 Dividends paid to owners - 8 721 - 7 991 - 202 - 328 - 8 448 - 9 178 Contribution to/from owners of non-controlling interests - 659 - 524 - 12 - 5 - 1 137 - 1 272 Cash flow after dividend 23 767 - 6 867 11 784 4 278 - 12 030 18 604 Change in net debt Net debt at start of period - 11 728 2 767 103 - 9 702 2 767 - 5 768 Cash flow after dividend 23 767 - 6 867 11 784 4 278 - 12 030 18 604 Changes as a result of valuation at fair value 382 90 231 66 37 329 Changes in liabilities for leasing - 529 - 2 057 - 239 - 755 - 2 873 - 1 345 Interest-bearing liabilities/short-term investments acquired/divested — — — — 190 190 Changes in liabilities pertaining to acquisitions of Group companies, discounting effects — — — — 7 7 Cash and cash equivalents included in assets held for sale 56 — — — - 59 - 3 Exchange rate differences on net debt - 583 299 - 514 345 233 - 649 Net debt1 at end of period 11 365 - 5 768 11 365 - 5 768 - 11 728 11 365 Cash flow from operating activities 56 650 17 962 22 522 11 758 23 245 61 933 Maintenance/replacement investments - 11 159 - 11 936 - 3 550 - 3 483 - 16 853 - 16 076 Free cash flow1 45 491 6 026 18 972 8 275 6 392 45 857 INVESTMENTS Electricity generation Wind power and solar PV 11 139 5 480 5 162 2 328 7 715 13 374 Nuclear power 1 454 1 492 365 555 2 414 2 376 Hydro power 1 195 1 040 456 381 1 699 1 854 Gas — 63 — 7 119 56 Biomass, waste 11 5 6 — 10 16 Total electricity generation 13 799 8 080 5 989 3 271 11 957 17 676 Total electricity networks 6 787 7 640 2 484 2 487 11 389 10 536 Combined heat and power/heat Heat networks 1 152 1 098 436 415 1 833 1 887 Fossil-based power 395 279 55 147 338 454 Other 119 186 40 70 254 187 Total combined heat and power/heat 1 666 1 563 531 632 2 425 2 528 Purchases of shares, shareholder contributions 2 179 1 141 967 56 1 304 2 342 Other 2 622 2 007 843 663 3 338 3 953 Total investments 27 053 20 431 10 814 7 109 30 413 37 035 Accrued investments, unpaid invoices (-)/release of accrued investments (+) 11 2 — 2 6 15 Cash and cash equivalents in acquired companies - 43 - 9 - 43 - 9 - 9 - 43 Total investments with cash flow effect 27 021 20 424 10 771 7 102 30 410 37 007 1) See Definitions of key ratios for definitions of Alternative Performance Measures. 2) The previously reported key ratio FFO has been removed and adjusted FFO is referred to as FFO as from the first quarter of 2026. From the same point in time, Net payments to/from the Swedish Nuclear Waste Fund and Payments for provisions affecting adjusted net debt, are excluded from FF O. The revised definition is more closely aligned with the definition used by credit rating agencies. The key ratio has been restated retrospectively. For further information, see Definitions of key ratio.

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22 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 Consolidated statement of changes in equity 30 Sep 2026 30 Sep 2025 31 Dec 2025 Amounts in SEK million Attributable to owner of the parent company Attributable to non- controlling interests Total equity Attributable to owner of the parent company Attributable to non- controlling interests Total equity Attributable to owner of the parent company Attributable to non- controlling interests Total equity Balance brought forward 172 676 26 718 199 394 171 196 30 725 201 921 171 196 30 725 201 921 Profit for the period 24 258 580 24 838 12 434 663 13 097 18 614 1 086 19 700 Total other comprehensive income for the period 18 018 805 18 823 - 8 444 - 806 - 9 250 - 10 054 - 1 133 - 11 187 Total comprehensive income for the period 42 276 1 385 43 661 3 990 - 143 3 847 8 560 - 47 8 513 Dividends paid to owners - 8 000 - 721 - 8 721 - 7 000 - 1 162 - 8 162 - 7 000 - 1 448 - 8 448 Group contributions from(+)/to(-) owners of non- controlling interests — — — — — — — 583 583 Changes in ownership in Group companies on acquisition/divestments of shares to owners of non- controlling interests - 71 - 17 - 88 - 284 1 - 1 729 1 - 2 013 - 304 1 - 1 734 1 - 2 038 Contribution to/from owners of non-controlling interests — - 659 - 659 — - 524 - 524 — - 1 137 - 1 137 Other changes in ownership — - 386 - 386 — — — — — — Other changes — — — — — — 224 - 224 — Total transactions with equity holders - 8 071 - 1 783 - 9 854 - 7 284 - 3 415 - 10 699 - 7 080 - 3 960 - 11 040 Balance carried forward 206 881 26 320 233 201 167 902 27 167 195 069 172 676 26 718 199 394 - Of which, reserve for hedges 4 690 8 4 698 - 7 602 8 - 7 594 - 7 745 8 - 7 737 1) Relates to the investment of shares in Nordlicht.

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23 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 Quarterly information, Vattenfall Group Q3 Q2 Q1 Q4 Q3 Q2 Q1 Amounts in SEK million unless otherwise stated 2026 2026 2026 2025 2025 2025 2025 Income statement Net sales 42 941 41 208 64 130 67 134 49 268 50 553 67 960 Operating profit before depreciation, amortisation and impairment losses (EBITDA) 9 363 10 242 29 399 15 337 8 536 11 782 13 582 Underlying EBITDA1 8 978 9 881 22 810 14 651 11 302 11 889 13 717 Operating profit (EBIT) 4 198 4 878 23 982 9 279 3 388 6 067 8 367 Underlying EBIT1 3 813 4 739 17 393 9 467 6 154 6 814 8 502 Profit before income taxes 2 404 7 413 22 971 8 688 3 026 6 682 7 586 Profit for the period 1 309 5 553 17 976 6 603 2 269 4 867 5 961 - of which, attributable to owner of the parent company 1 453 5 295 17 509 6 180 2 164 4 479 5 792 Adjusted profit for the period1 1 743 3 691 13 722 5 926 4 060 3 713 6 149 Balance sheet Equity 233 201 219 352 224 005 199 394 195 069 194 788 195 503 - of which, attributable to owners of the parent company 206 881 193 100 197 185 172 676 167 902 167 352 168 624 Net debt1 11 365 103 9 399 - 11 728 - 5 768 - 9 702 - 4 616 Adjusted net debt1 - 64 644 - 69 361 - 65 455 - 73 442 - 72 370 - 81 442 - 83 463 Capital employed, average1 304 871 308 525 306 295 304 650 293 546 298 881 315 090 Cash flow Cash flow from operating activities before changes in working capital2 7 079 7 748 17 592 12 505 8 563 8 609 12 170 FFO (Funds from operations)1,2 7 809 7 942 18 861 13 312 9 795 9 939 13 099 Cash flow from operating activities 22 522 6 572 27 556 5 283 11 758 7 536 - 1 333 Cash flow from investing activities - 21 783 - 824 - 3 615 - 10 556 - 3 564 - 1 120 - 872 Cash flow from financing activities 9 404 - 16 422 - 95 - 11 926 - 723 - 7 816 - 5 360 Cash flow for the period 10 143 - 10 674 23 846 - 17 199 7 471 - 1 400 - 7 565 Free cash flow1 18 972 4 884 21 637 367 8 275 2 921 - 4 627 Financial targets1,4 Return on capital employed excl. items affecting comparability, % (target ≥8%) 11.6 12.2 13.0 10.2 7.6 5.9 4.7 FFO/adjusted net debt2, % (target ≥25%) 74.1 72.0 79.3 62.8 60.2 49.1 43.1 Other key ratios1,4 Return on equity, % 15.6 16.6 16.6 10.6 9.6 9.8 12.6 Cash flow interest cover (times) 10.6 11.7 11.3 10.4 9.2 8.5 7.5 Net debt/EBITDA (times) - 0.2 0.0 - 0.1 0.2 0.1 0.2 0.1 Adjusted net debt/EBITDA (times) 1.0 1.1 1.0 1.5 1.6 1.9 1.7 Return on capital employed, % 13.9 13.5 14.0 5 8.9 7.8 6.9 8.4 1) See Definitions of key ratios for more information. 2) The previously reported key ratio FFO has been removed and adjusted FFO is referred to as FFO as from the first quarter of 2026. The definition has been updated and the key ratio has been restated retrospectively. The subtotal previously referred to as FFO in the Consolidated statement of cash flows is now presented as c ash flow from operating activities before changes in operating assets and liabilities. See Definitions of key ratios for further information. 3) As a result of the updated definition of FFO, the outcome for FFO/adjusted net debt increased by 8.4 percentage points (9.7) as at 30 September 2026. The target level of ≥25% over a business cycle was met for the above periods both before and after the update of FFO. See Definitions of key ratios for further information. 4) Last 12-months values. 5) The value has been adjusted compared with information previously published in Vattenfall’s financial reports.

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24 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 NOTE 1 | Accounting policies, risks and uncertainties Accounting policies This interim report for the Group has been prepared in accordance with IAS 34 “Interim Financial Reporting”, and the Swedish Annual Accounts Act. The accounting policies and calculation methods applied in this interim report are the same as those described in Vattenfall’s Annual and Sustainability Report 2025. No amended accounting standards or interpretations effective from 1 January 2026 have had a material impact on the Vattenfall Group’s financial statements. IFRS 18, Presentation and Disclosure in Financial Statements is a new standard that is effective from 1 January 2027. The standard replaces IAS 1, Presentation of Financial Statements and introduces changes to the structure of the income statement, including defined subtotals, as well as new disclosure requirements for management-defined performance measures. Vattenfall is in the final stages of assessing the impact of the new standard, including identifying items that might require reclassification and remapping the income statement to the new structure. Management-defined performance measures are currently being finalised, and related reconciliations are being developed. Vattenfall will apply IFRS 18 from 1 January 2027. Risks and uncertainties For a description of risks, uncertainties and risk management, refer to Vattenfall’s Annual and Sustainability Report 2025, pages 44-56. Apart from the below and the information provided under “Business highlights” in this report and under “Business highlights” in previously published interim reports in 2026, no material changes have occurred since the publication of the Annual and Sustainability Report 2025. The geopolitical situation deteriorated during the first three quarters of 2026, partly as a result of the conflict in the Middle East. This development has increased uncertainty in the global energy and commodity markets, contributed to higher interest rates, and disrupted international trade and transportation flows. Vattenfall is closely monitoring developments and continuously assessing any potential impacts on the Group’s operations. Changes regarding key ratios Changes have been made to the following key ratios since Vattenfall’s Annual and Sustainability Report 2025: • FFO (Funds from operations) • Adjusted FFO • FFO/adjusted net debt • Adjusted FFO/adjusted net debt For further information regarding changes, see Definitions of key ratios. Other Related party-transactions Significant related-party transactions are described in Note 45 to the consolidated accounts in Vattenfall’s Annual and Sustainability Report 2025, no material changes have occurred since the publication. At the end of June, Vattenfall entered into an agreement with the Swedish State to divest 60% of the shares in Videberg Kraft AB. The transaction is expected to be completed during 2027. Upon completion of the transaction, Vattenfalls ownership interest in Videberg Kraft AB will decrease from 80% to 20%. As Videberg Kraft AB is already accounted for as a joint venture under the equity method, the transaction is not expected to affect the consolidation method. Gotlands Energi In April, Vattenfall entered into an agreement with Region Gotland to acquire the remaining 25% of the shares in Gotlands Energi AB for a purchase price of SEK 533 million. The decision by the Regional Council Assembly to approve the sale has been appealed, and the transaction will be completed once the decision has become legally binding. NOTE 2 | Exchange rates KEY EXCHANGE RATES APPLIED IN THE ACCOUNTS OF THE VATTENFALL GROUP Jan-Sep Jan-Sep Jul-Sep Jul-Sep Full year 2026 2025 2026 2025 2025 Average rate EUR 10.9102 11.1231 11.1314 11.1039 11.0728 DKK 1.4600 1.4908 1.4891 1.4878 1.4837 GBP 12.6215 13.1223 12.9858 12.8356 12.9654 USD 9.3928 10.0243 9.7032 9.5396 9.8763 30 Sep 30 Sep 31 Dec 2026 2025 2025 Closing rate EUR 11.3406 11.0565 10.8215 DKK 1.5170 1.4811 1.4489 GBP 13.2631 12.6592 12.4014 USD 9.9834 9.4170 9.2098

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25 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 NOTE 3 | Financial instruments Accounting principles For accounting policies applied, refer to Note 30, Financial instruments, in Vattenfall’s Annual and Sustainability Report 2025. Difference between carrying amount and fair value The carrying amounts of financial assets measured at amortised cost do not differ significantly from their fair values. The difference between carrying amounts and fair values for financial liabilities measured at amortised cost amounts to SEK 976 million (31 December 2025: 1 228). Fair value hierarchy level 3 Derivative liabilities within level 3 consist of an option to enter into a power purchase agreement (PPA) at a fixed price that Vattenfall granted to BASF as part of the consideration for the shares in Nordlicht. Due to the long duration of the PPA, power forward rates are not observable for the duration of the contract. As the German power price is only observable for up to five years, Vattenfall has used a fundamental long- term market outlook for forward rates based on historical forward curves which has been extrapolated to estimate volatility. FAIR VALUE HIERARCHY AS PER 30 SEPTEMBER 2026 Amounts in SEK million Level 1 Level 2 Level 3 Total Assets Share in the Swedish Nuclear Waste Fund1 — 59 839 — 59 839 Derivative assets — 37 729 — 37 729 Short-term investments, cash equivalents and other shares and participations 41 615 10 458 — 52 073 Total assets 41 615 108 026 — 149 641 Liabilities Derivative liabilities — 37 627 912 38 539 Other financial liabilities — — 171 171 Total liabilities — 37 627 1 083 38 710 FAIR VALUE HIERARCHY AS PER 31 DECEMBER 2025 Amounts in SEK million Level 1 Level 2 Level 3 Total Assets Share in the Swedish Nuclear Waste Fund1 — 58 201 — 58 201 Derivative assets — 9 857 — 9 857 Short-term investments, cash equivalents and other shares and participations 36 691 4 314 — 41 005 Total assets 36 691 72 372 — 109 063 Liabilities Derivative liabilities — 13 492 1 009 14 501 Other financial liabilities — — 163 163 Total liabilities — 13 492 1 172 14 664 1) As of the second quarter of 2026, Vattenfall classifies its share in the Swedish Nuclear Waste Fund as Level 2 within the fai r value hierarchy, compared with Level 1 previously. The reclassification has not resulted in any change to the valuation methodology.

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26 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 NOTE 4 | Items affecting comparability Items affecting comparability during January-September 2026 amounted to SEK 7,113 million. Capital gains amounted to SEK 2,549 million, mainly relating to divestment of operations and assets within the operating segment Customers & Solutions. The changes in fair value of energy derivatives and inventories amounted to SEK 4,810 million in total. Items affecting comparability during January-September 2025 amounted to SEK -3,647 million. Impairment losses amounted to SEK -640 million, relating to onshore wind assets in Sweden. Provisions related to nuclear decreased by SEK 501 million due to higher discount rate. The changes in fair value of energy derivatives and inventories amounted to SEK -3,620 million in total. 1) For more information on capital gains see Note 5, Acquired and divested operations. 2) For more information on impairment losses see Note 6, Impairment losses and reversed impairment losses. 3) See Definitions of key ratios for definitions of Alternative Performance Measures. Jan-Sep Jan-Sep Jul-Sep Jul-Sep Full year Last 12 Amounts in SEK million 2026 2025 2026 2025 2025 months Capital gains1 2 549 140 61 36 680 3 089 Capital losses - 69 - 19 - 49 - 9 - 65 - 115 Impairment losses2 - 222 - 640 — — - 1 514 - 1 096 Provisions 161 501 - 165 — 654 314 Changes in the fair value of energy derivatives 3 362 - 2 665 - 257 - 2 765 - 2 766 3 261 Changes in the fair value of inventories 1 448 - 955 955 - 24 - 810 1 593 Other non-recurring items affecting comparability - 116 - 9 - 160 - 4 - 14 - 121 Items affecting comparability3 7 113 - 3 647 385 - 2 766 - 3 835 6 925

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27 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 NOTE 5 | Acquired and divested operations Acquired operations Vattenfall did not make any material acquisitions during the period. Divested operations Sales business in France On 31 March 2026, Vattenfall completed the divestment of its French electricity and gas sales business, the capital gain amounted to SEK 870 million. Västerbergslagens Energi On 15 June 2026, Vattenfall completed the divestment of its majority stake of 51% in Västerbergslagens Energi AB to the minority shareholders, the municipalities of Ludvika and Fagersta. The consideration amounted to SEK 1,436 million, and the capital gain amounted to SEK 1,057 million. In connection with the divestment, Vattenfall acquired the remaining minority interests (49%) in Västerbergslagens Elförsäljning AB which had a minor impact on equity. No other major operations have been divested during the period. Divested assets Power plants in the Netherlands On 1 January 2026, Vattenfall completed the divestment of its power plants in the IJmond-region in the Netherlands. The divestment includes two power plants and one combined heat and power plant. The capital gain amounted to SEK 542 million. Assets held for sale Some assets related to the Customers & Solutions operating segment continue to be classified as assets held for sale, as it is highly probable that these assets will be recovered principally through a divestment rather than through continued use. The assets are available for immediate sale in their present condition. The divestment is expected to be finalised during 2026. The sales business in France and the power plants in the Netherlands that were divested during the first quarter of 2026 were classified as assets held for sale as at 31 December 2025. NOTE 6 | Impairment losses and reversed impairment losses Accounting policy Assessments are made on a regular basis throughout the year for any indication that an asset may have decreased in value. If any such indication is identified, the asset’s recoverable amount is estimated and an impairment test is performed. The principles for impairment test are described in Note 27, Impairment losses and reversed impairment losses, in Vattenfall’s Annual and Sustainability Report 2025. Impairment losses Impairment losses amounting to SEK 607 million (640) were recognised during the first three quarters of 2026. The impairments primarily relate to assets within the Wind operating segment. No previously recognised impairment losses were reversed through the income statement during the period. NOTE 7 | Events after the balance sheet date No events have occurred after the balance sheet date that are expected to have a significant impact on the consolidated financial statements.

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28 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 The Parent Company Vattenfall AB Accounting policies This interim report for the parent company has been prepared in accordance with the Swedish Annual Accounts Act and RFR 2, Accounting for Legal Entities. The accounting policies applied in this interim report are the same as those described in Vattenfall's Annual and Sustainability Report 2025. Period in brief January – September 2026 • Net sales amounted to SEK 37,500 million (34,454). The higher net sales are mainly explained by the development in electricity prices. • Costs of purchases amounted to SEK -29,325 million (-24,819). The higher cost of purchase is explained by higher prices on electricity and negative results from hedging. • Other operating expenses amounted to SEK -3,903 million (-49). The increase was attributable to the transfer of the Swedish heat operations to the subsidiary Vattenfall Värme AB during the second quarter. The transfer was carried out at tax residual values. In connection with the transaction, untaxed reserves were dissolved, resulting in no net impact on profit for the period. • Result from participations in subsidiaries amounted to SEK 11,167 million (6,330) mainly relating to dividends from subsidiaries in Germany and the Netherlands. • The financial net amounted to SEK -2,301 million (1,835). The decrease is primarily explained by a weaker SEK against EUR and GBP compared to the same period last year. • Profit for the period is SEK 11,169 million (9,622). • The balance sheet total amounts to SEK 336,293 million (325,453). • Dividend paid to the owner of SEK 8,000 million (7,000). • Cash and cash equivalents, and short-term investments amounted to SEK 69,547 million (64,502). Other Significant related-party transactions are disclosed in Note 32, Related party disclosures, in Vattenfall’s Annual and Sustainability Report 2025. No material changes have occurred since the publication. At the end of June, Vattenfall entered into an agreement with the Swedish State to divest 60% of the shares in Videberg Kraft AB. The transaction is expected to be completed during 2027. Upon completion of the transaction, Vattenfalls ownership interest in Videberg Kraft AB will decrease from 80% to 20%. As Videberg Kraft AB is already accounted for as a joint venture under the equity method, the transaction is not expected to affect the consolidation method.

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29 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 Parent Company income statement Jan-Sep Jan-Sep Jul-Sep Jul-Sep Full year Last 12 Amounts in SEK million 2026 2025 2026 2025 2025 months Net sales 37 500 34 454 7 795 10 124 47 189 50 235 Cost of purchases1 - 29 325 - 24 819 - 11 768 - 11 392 - 30 454 - 34 960 Other external expenses1 - 3 329 - 3 744 - 1 857 14 - 4 403 - 3 988 Personnel expenses - 2 522 - 2 506 - 654 - 10 - 3 317 - 3 333 Other operating incomes 102 67 - 24 — 105 140 Other operating expenses - 3 903 - 49 - 10 - 1 824 - 75 - 3 929 Operating profit before depreciation, amortisation and impairment losses (EBITDA) - 1 477 3 403 - 6 518 - 3 088 9 045 4 165 Depreciation, amortisation and impairments - 490 - 606 - 100 - 78 - 827 - 711 Operating profit (EBIT) - 1 967 2 797 - 6 618 - 3 166 8 218 3 454 Result from participations in subsidiaries 11 167 6 330 742 1 238 4 441 9 278 Result from participations in associated companies 323 — — — — 323 Result from other shares and participations 12 — — — — 12 Other financial income 2 939 4 959 985 1 602 6 817 4 797 Other financial expenses - 5 240 - 3 124 - 2 069 - 1 067 - 4 157 - 6 273 Profit before appropriations and income taxes 7 234 10 962 - 6 960 - 1 393 15 319 11 591 Appropriations 3 960 - 350 — - 120 - 4 676 - 366 Profit before income taxes 11 194 10 612 - 6 960 - 1 513 10 643 11 225 Income taxes - 25 - 990 1 522 343 - 1 440 - 475 Profit for the period 11 169 9 622 - 5 438 - 1 170 9 203 10 750 1) Cost related to nuclear power have been reclassified from Cost of purchases to Other external expenses, the comparable amounts have been updated.

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30 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 Parent company balance sheet 30 Sep 30 Sep 31 Dec Amounts in SEK million 2026 2025 2025 Assets Non-current assets Intangible assets: non-current 1 879 988 1 483 Property, plant and equipment 1 178 7 372 7 453 Shares and participations 167 698 167 761 165 711 Deferred tax assets 2 389 1 215 638 Other non-current receivables 3 456 2 000 1 844 Other non-current receivables, group 76 693 68 383 66 653 Total non-current assets 253 293 247 719 243 782 Current assets Inventories 70 542 581 Current receivables 7 871 7 294 8 846 Current receivables, group 5 512 5 396 8 637 Short-term investments 43 306 39 181 39 478 Cash and cash equivalents 26 241 25 321 10 714 Total current assets 83 000 77 734 68 256 Total assets 336 293 325 453 312 038 Equity, provisions and liabilities Equity Restricted equity Share capital (131,700,000 shares with a share quota value of SEK 50) 6 585 6 585 6 585 Development fee fund 1 530 909 1 101 Non-restricted equity Retained earnings 130 943 130 360 130 169 Profit for the period 11 169 9 622 9 203 Total equity 150 227 147 476 147 058 Untaxed reserves 5 623 6 833 9 583 Provisions1 6 377 8 671 7 662 Non-current liabilities Hybrid capital2 21 471 20 902 20 539 Other interest-bearing liabilities 23 901 29 850 23 593 Other interest-bearing liabilities, group 223 219 224 Other noninterest-bearing liabilities2 1 575 320 320 Total non-current liabilities 47 170 51 291 44 676 Current liabilities Other interest-bearing liabilities 14 851 17 562 10 934 Other interest-bearing liabilities, group 91 062 74 307 71 012 Current tax liabilities 870 1 172 755 Other noninterest-bearing liabilities 6 784 5 204 4 946 Other noninterest-bearing liabilities, group 13 329 12 937 15 412 Total current liabilities 126 896 111 182 103 059 Total equity, provisions and liabilities 336 293 325 453 312 038 1) Future commitments for nuclear power operations have been reclassified from Other non-interest-bearing liabilities (long-term) to Provisions. Comparative amounts have been updated. 2) Vattenfall intends to redeem the hybrid bond amounting to EUR 1 billion (SEK 11.3 billion) at its first call date on 19 March 2027, thereby reducing outstanding hybrid capital accordingly. For more information see the Capital structure section.

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31 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 Definitions of key ratios In order to ensure a fair presentation of the Group’s operations, Vattenfall uses a number of Alternative Performance Measures (APM) that are not defined in IFRS or in the Swedish Annual Accounts Act. The APMs that Vattenfall uses are described below. The APMs used are unchanged compared with prior periods except for the following measures that have changed since Vattenfall’s Annual and Sustainability report 2025: • FFO (Funds from operations) • Adjusted FFO • FFO/adjusted net debt • Adjusted FFO/adjusted net debt For further information on the changes refer to each measure below. Operating profit (EBIT, Earnings Before Interest and Tax): The difference between the operating income and the operating expenses, including share of profit from associated companies and joint ventures. Refer to Consolidated income statement. Operating profit before depreciation, amortisation and impairment losses (EBITDA, Earnings Before Interest, Tax, Depreciation and Amortisation): Refer to Consolidated income statement. Items affecting comparability (IAC): Capital gains and capital losses from sale of shares and other non-current assets, impairment losses and reversed impairment losses from assets in operation or under construction and other material items that are of an infrequent nature. Also included here are changes in the fair value of energy derivatives, which do not qualify for hedge accounting. Changes in fair values of energy derivatives as well as inventory revaluation for proprietary trading activities are recognized in the underlying operating profit to reflect the overall trading performance. Refer to Note 4, Items affecting comparability for a reconciliation. Underlying operating profit (Underlying EBIT): Operating profit excluding items affecting comparability. The measure enables improved comparability between periods by excluding items affecting comparability. Refer below for reconciliation. Underlying operating profit before depreciation, amortisation and impairment losses (Underlying EBITDA): Operating profit excluding items affecting comparability, depreciation, amortisation and impairment losses. This measure enables a more fair comparison between periods by excluding items affecting comparability and items not affecting cash flow such as depreciation, amortisation and impairment losses. Refer below for reconciliation. Adjusted profit for the period: Profit for the period, attributable to owner of the parent company excluding fair value changes and return from the Swedish Nuclear Waste Fund. Vattenfall's dividend policy is based on this measure. Interest-bearing liabilities: Refer to supplementary information in connection with the Consolidated balance sheet for a reconciliation. Net debt: Refer to supplementary information in connection with the Consolidated balance sheet and the Consolidated statement of cash flow for reconciliations. Adjusted net debt: Refer to supplementary information in connection with the Consolidated balance sheet for reconciliation. Capital employed: Total assets less financial assets, non interest- bearing liabilities and certain other interest-bearing provisions which are not included in adjusted net debt. Refer to supplementary information in connection with the Consolidated balance sheet for reconciliation. Return on capital employed (ROCE): Operating profit divided by average capital employed. Measures profitability without adjustments for items affecting comparability. Refer below for reconciliation. Return on capital employed excluding items affecting comparability (ROCE excl IAC): Underlying operating profit divided by average capital employed. Financial target that measures profitability. This measure excludes items affecting comparability to better reflect the underlying operations. Refer below for reconciliation. Return on equity: Profit for the period attributable to owner of the parent company divided by average equity attributable to owners of the parent company, excluding the hedge reserve. The key ratio measures profitability by showing how much profit is generated in relation to its equity. The key ratio is presented because it is a common key ratio for measuring profitability. Net debt/EBITDA and adjusted net debt/EBITDA: Net debt/ adjusted net debt divided by operating profit before depreciation, amortisation and impairment losses (EBITDA). The key ratio measures leverage and indicates the number of years required to repay net debt, given constant net debt and EBITDA. The key ratio is used by credit rating agencies in their assessment of Vattenfall’s credit rating. FFO (Funds from operations): The previously reported key ratio FFO has been removed, and the subtotal previously referred to as FFO in the Consolidated statement of cash flows is now presented as cash flow from operating activities before changes in working capital. Adjusted FFO is, as from the first quarter of 2026, referred to as FFO. The key ratio is part of the financial target FFO/adjusted net debt. FFO is defined as cash flow from operating activities before changes in working capital excluding dividend and contribution attributable to non-controlling interests. These funds are excluded as they are not available for repayment of the Group’s debt. As from the first quarter of 2026, the definition of FFO has been updated to exclude net payments to/from the Swedish Nuclear Waste Fund and payments for provisions affecting adjusted net debt, from FFO. The revised definition is more closely aligned with the definition used by credit rating agencies. The key ratio has been restated retrospectively. For a reconciliation, refer to supplementary information in connection with the Consolidated statement of cash flows. Adjusted FFO: Key ratio which, as from the first quarter of 2026, is referred to as FFO. See the definition above for further information. FFO/adjusted net debt: The previously reported key ratio FFO/adjusted net debt has been removed and replaced by adjusted FFO/adjusted net debt as the financial target for the capital structure. As from the first quarter of 2026, adjusted FFO/adjusted net debt is referred to as FFO/adjusted net debt. The key ratio measures the Group’s ability to generate operating cash flow in relation to its debt. As from the first quarter of 2026, the definition of FFO has been updated; refer above for further information. The key ratio has been restated retrospectively. For information on how the adjustment has affected the outcome, see Quarterly information, Group. Refer below for reconciliation. Adjusted FFO/adjusted net debt: Financial target for capital structure which, as from the first quarter of 2026, is referred to as FFO/adjusted net debt. See definition above for further information. Free cash flow: Cash flow from operating activities less maintenance investments. Refer to Supplementary information in connection to Consolidated statement of cash flow, for a reconciliation. Cash flow interest cover (previously FFO interest cover): Cash flow from operating activities before changes in working capital and financial expenses excluding the unwinding of discount on provisions, divided by financial expenses excluding the unwinding of discount on provisions. This key ratio measures a company’s ability to meet its interest obligations using cash flow from operating activities before changes in working capital. The key ratio is used by credit rating agencies in their assessment of Vattenfall’s credit rating.

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32 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 Calculations of key ratios UNDERLYING EBITDA, UNDERLYING EBIT AND ADJUSTED PROFIT FOR THE PERIOD Jan-Sep Jan-Sep Jul-Sep Jul-Sep Full year Last 12 Amounts in SEK million 2026 2025 2026 2025 2025 months Operating profit before depreciation, amortisation and impairment losses (EBITDA) 49 004 33 899 9 363 8 536 49 236 64 341 Items affecting comparability excl. impairment losses and reversed impairment losses - 7 335 3 007 - 385 2 766 2 321 - 8 021 Underlying EBITDA 41 669 36 906 8 978 11 302 51 557 56 320 Operating profit (EBIT) 33 058 17 823 4 198 3 388 27 102 42 337 Items affecting comparability - 7 113 3 647 - 385 2 766 3 835 - 6 925 Underlying EBIT 25 945 21 470 3 813 6 154 30 937 35 412 Profit for the period, attributable to owner of the parent company 24 258 12 434 1 453 2 164 18 614 30 438 Fair values and return from Nuclear Waste Fund, attributable to owner of the parent company - 7 100 2 112 54 2 468 1 889 - 7 323 Tax effects 1 998 - 623 236 - 572 - 654 1 967 Adjusted profit for the period 19 156 13 923 1 743 4 060 19 849 25 082 FINANCIAL TARGETS Key ratios based on last 12-month values October 2025 – September 2026: Return on capital employed excl. = 100 x Underlying EBIT 35 412 = 11.6 items affecting comparability, % Capital employed, average 304 871 FFO/adjusted net debt1, % = 100 x FFO1 47 924 = 74.1 Adjusted net debt 64 644 OTHER KEY RATIOS Key ratios based on last 12-month values October 2025 – September 2026: Return on equity, % = 100 x Profit for the period attributable to owner of the parent company 30 438 = 15.6 Average equity attributable to owner of the 194 711 parent company excl. the hedging reserve Cash flow from operating activities before changes in operating assets and liabilities2 + financial expenses excl. Cash flow interest cover, (times) = discounting effects attributable to provisions 49 620 = 10.6 Financial expenses excl. discounting effects attributable to 4 696 provisions Net debt/EBITDA, (times) = Net debt -11 365 = - 0.2 EBITDA 64 341 Adjusted net debt/ = Adjusted net debt 64 644 = 1.0 EBITDA, (times) EBITDA 64 341 Return on capital employed, % = 100 x EBIT 42 337 = 13.9 Capital employed, average 304 871 1) The key ratio has been adjusted and restated retrospectively. For further information, see Definitions of key ratios. 2) As from the first quarter of 2026, the previously reported subtotal FFO in the Consolidated statement of cash flows is referr ed to as Cash flow from operating activities before changes in operating assets and liabilities. For further information, see Definitions of key ratios.

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33 VATTENFALL INTERIM REPORT JANUARY -SEPTEMBER 2026 Interim report signature Solna, 29 October 2026 Anna Borg President and CEO This interim report has not been reviewed by the company’s auditor. Financial calendar Year-end report 2026, 4 February 2027 Annual General Meeting, 28 April 2027 Interim report January-March, 29 April 2027 Interim report January-June, 22 July 2027 Interim report January-September, 28 October 2027 Contact information Vattenfall AB (publ) 169 92 Stockholm Corporate identity number 556036-2138 T +46 8-739 50 00 www.vattenfall.com www.vattenfall.com/se Anna Borg President and CEO T +46 8-739 50 00 Kerstin Ahlfont CFO T +46 8-739 50 00 Johan Sahlqvist Head of Group Control & Investor Relations T +46 8 739 72 51 Vattenfall’s press office T +46 8-739 50 10 press@vattenfall.com The information was submitted for publication, through the agency of the contact persons set out above, at 08.00 CET on 29 October 2026. This report has been prepared in both Swedish and English versions. In the event of discrepancies between the two versions, the Swedish version shall govern.

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