Slides
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W5 Empowering defence . Interim Report Q2 2026 Evelina Hedskog , President and CEO
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W5 Solutions at a Glance W5 is a Nordic defence company delivering mission-critical solutions that strengthens military operational capability.
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Instructions for Text Formatting To format the text with headings and body text, use the "Increase List Level" option found under the Home tab - Paragraph section in the ribbon menu. Level 1 = Bullet/Text level 1 Level 2 = Bullet/Text level 2 Level 3 = Bullet/Text level 3 Level 4 = Bullet/Text level 4 Level 5 = Quo te, italic text Level 6 = Check mark Level 7 = Cross mark A Nordic Defence Technology Company Home markets Sweden, Norway and Finland Operations Development, production and integration across the Nordics Scale ~270 FTE Customers Defence agencies and industry primes Listing Nasdaq First North Growth Market (since 2021)
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Instructions for Text Formatting To format the text with headings and body text, use the "Increase List Level" option found under the Home tab - Paragraph section in the ribbon menu. Level 1 = Bullet/Text level 1 Level 2 = Bullet/Text level 2 Level 3 = Bullet/Text level 3 Level 4 = Bullet/Text level 4 Level 5 = Quo te, italic text Level 6 = Check mark Level 7 = Cross mark 4 One W5 – Offering Multiple Capabilities Mission-critical solutions for defence PR O T E C T Integration Deployable defence infrastructureand systems integration. PR E PA R E Training Advanced live fire training systems. E N A BL E Power Reliable power solutions and simulator hardware. Business models: Project-based | customised solutions, small to medium-sized series. Off-the-shelf | standardized solutions, larger-sized series.
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Instructions for Text Formatting To format the text with headings and body text, use the "Increase List Level" option found under the Home tab - Paragraph section in the ribbon menu. Level 1 = Bullet/Text level 1 Level 2 = Bullet/Text level 2 Level 3 = Bullet/Text level 3 Level 4 = Bullet/Text level 4 Level 5 = Quo te, italic text Level 6 = Check mark Level 7 = Cross mark 388 492 1 000 2024 2025 2026 2027 Organic growth (actual) Organic growth (illustrative) Acquired growth (illustrative) 5 Financial Targets & Growth Strategy Net sales SEK 1 000 m EBIT margin 10% Financial targets 2027 Growth journey to 1 000
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Instructions for Text Formatting To format the text with headings and body text, use the "Increase List Level" option found under the Home tab - Paragraph section in the ribbon menu. Level 1 = Bullet/Text level 1 Level 2 = Bullet/Text level 2 Level 3 = Bullet/Text level 3 Level 4 = Bullet/Text level 4 Level 5 = Quo te, italic text Level 6 = Check mark Level 7 = Cross mark 6 Highlights Q2
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Instructions for Text Formatting To format the text with headings and body text, use the "Increase List Level" option found under the Home tab - Paragraph section in the ribbon menu. Level 1 = Bullet/Text level 1 Level 2 = Bullet/Text level 2 Level 3 = Bullet/Text level 3 Level 4 = Bullet/Text level 4 Level 5 = Quo te, italic text Level 6 = Check mark Level 7 = Cross mark 7 KT-Shelter Is Now Part of W5 Solutions Net sales 2025 SEK 145 m Growth 2020–2025 38% CAGR EBIT margin 2025 15% Strengthening our position in deployable defence infrastructure Enhances the W5 portfolio with deployable shelter for helicopters, fighter aircraft, drones and other critical defence assets Strengthens our Finnish footprint and provides cross-selling opportunities Acquisition completed on 25 May 2026 and now part of business area Integration
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Instructions for Text Formatting To format the text with headings and body text, use the "Increase List Level" option found under the Home tab - Paragraph section in the ribbon menu. Level 1 = Bullet/Text level 1 Level 2 = Bullet/Text level 2 Level 3 = Bullet/Text level 3 Level 4 = Bullet/Text level 4 Level 5 = Quo te, italic text Level 6 = Check mark Level 7 = Cross mark Customer Swedish Defence Materiel Administration (FMV) Strategic importance ▪ Strengthens our role as a full -service power systems provider ▪ Demonstrates prime contractor capability ▪ Broadens the power offering with fixed installations Contract value Approx. SEK 46m with options SEK 4.5m Scope Project management, system safety , and the delivery of a complete 400 Hz power supply system Project period Q2 2026–Q2 2027 FMV Contract for Swedish Armed Forces Training Centre B U SI N ESS A R EA P OW ER
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Instructions for Text Formatting To format the text with headings and body text, use the "Increase List Level" option found under the Home tab - Paragraph section in the ribbon menu. Level 1 = Bullet/Text level 1 Level 2 = Bullet/Text level 2 Level 3 = Bullet/Text level 3 Level 4 = Bullet/Text level 4 Level 5 = Quo te, italic text Level 6 = Check mark Level 7 = Cross mark Framework Agreement with the Swedish Armed Forces B U SI N ESS A R EA TR A I N IN G Customer The Swedish Armed Forces Strategic importance ▪ Strengthens our role as a long -term partner ▪ Simplifies sales process ▪ Enables future call -off orders Estimated value SEK 700 million Scope Service, support and equipment for training and simulation systems Agreement term 3 years initial term +3x 2 -year extension options (up to 9 years total)
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Instructions for Text Formatting To format the text with headings and body text, use the "Increase List Level" option found under the Home tab - Paragraph section in the ribbon menu. Level 1 = Bullet/Text level 1 Level 2 = Bullet/Text level 2 Level 3 = Bullet/Text level 3 Level 4 = Bullet/Text level 4 Level 5 = Quo te, italic text Level 6 = Check mark Level 7 = Cross mark 10 Numbers Q2 & YTD
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Instructions for Text Formatting To format the text with headings and body text, use the "Increase List Level" option found under the Home tab - Paragraph section in the ribbon menu. Level 1 = Bullet/Text level 1 Level 2 = Bullet/Text level 2 Level 3 = Bullet/Text level 3 Level 4 = Bullet/Text level 4 Level 5 = Quo te, italic text Level 6 = Check mark Level 7 = Cross mark 11 Q2 – Key Figures (SEK m) ▪ Solid order intake and growing order backlog ▪ Record high net sales with 105 per cent growth ▪ Insufficient profitability ▪ Increased direct costs affecting gross margin ▪ Adjusted for non -recurring items related to the acquisition, the EBIT margin was –3% ▪ Improved cashflow mirroring increased focus on working capital Record growth and a clear focus for the future ▪ Figures in parentheses refer to the same period last year. All figures in the presentation are rounded to the nearest SEK million. EBIT margin –11% Net sales 228 Order intake 234 Order backlog 865 Book-to-bill 1.0 Operating cashflow 41
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Instructions for Text Formatting To format the text with headings and body text, use the "Increase List Level" option found under the Home tab - Paragraph section in the ribbon menu. Level 1 = Bullet/Text level 1 Level 2 = Bullet/Text level 2 Level 3 = Bullet/Text level 3 Level 4 = Bullet/Text level 4 Level 5 = Quo te, italic text Level 6 = Check mark Level 7 = Cross mark 12 Net Sales and EBIT Margin by Quarter (SEK m)
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Instructions for Text Formatting To format the text with headings and body text, use the "Increase List Level" option found under the Home tab - Paragraph section in the ribbon menu. Level 1 = Bullet/Text level 1 Level 2 = Bullet/Text level 2 Level 3 = Bullet/Text level 3 Level 4 = Bullet/Text level 4 Level 5 = Quo te, italic text Level 6 = Check mark Level 7 = Cross mark 13 Operating Segments – Order Intake & Order Backlog (SEK m) TrainingIntegration Power 188 160 303 549 0 100 200 300 400 500 600 Q2 2025 Q2 2026 Order intake Order backlog 72 31 161 282 0 50 100 150 200 250 300 Q2 2025 Q2 2026 Order intake Order backlog 98 43 133 34 0 20 40 60 80 100 120 140 Q2 2025 Q2 2026 Order Intake Order backlog
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Instructions for Text Formatting To format the text with headings and body text, use the "Increase List Level" option found under the Home tab - Paragraph section in the ribbon menu. Level 1 = Bullet/Text level 1 Level 2 = Bullet/Text level 2 Level 3 = Bullet/Text level 3 Level 4 = Bullet/Text level 4 Level 5 = Quo te, italic text Level 6 = Check mark Level 7 = Cross mark 14 Operating Segments – Net Sales & EBIT (SEK m) TrainingIntegration Power ▪ Net sales includes internal sales ▪ Q2 results include acquisition -related costs of SEK 17.3 million 28 67 -15 -11 -20 -10 0 10 20 30 40 50 60 70 Q2 2025 Q2 2026 Net sales EBIT 46 98 5 3 0 20 40 60 80 100 Q2 2025 Q2 2026 Net sales EBIT 49 66 2 -16-20 -10 0 10 20 30 40 50 60 70 80 Q2 2025 Q2 2026 Net sales EBIT
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Instructions for Text Formatting To format the text with headings and body text, use the "Increase List Level" option found under the Home tab - Paragraph section in the ribbon menu. Level 1 = Bullet/Text level 1 Level 2 = Bullet/Text level 2 Level 3 = Bullet/Text level 3 Level 4 = Bullet/Text level 4 Level 5 = Quo te, italic text Level 6 = Check mark Level 7 = Cross mark 15 Key Figures – YTD (SEK m) Group Net sales 357 EBIT –24 Integration Net sales 152 EBIT 9 Training Net sales 117 EBIT –17 Power Net sales 110 EBIT –16 ▪ Net sales includes internal sales ▪ Q2 results include acquisition -related costs of SEK 18.5 million
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Instructions for Text Formatting To format the text with headings and body text, use the "Increase List Level" option found under the Home tab - Paragraph section in the ribbon menu. Level 1 = Bullet/Text level 1 Level 2 = Bullet/Text level 2 Level 3 = Bullet/Text level 3 Level 4 = Bullet/Text level 4 Level 5 = Quo te, italic text Level 6 = Check mark Level 7 = Cross mark Key takeaways ▪ Continued strong market demand ▪ Record high net sales with 105 per cent growth ▪ Profitability challenges Summary Q2 and YTD Priorities ahead ▪ Cost control and efficiency improvements ▪ Continued focus on cashflow and working capital ▪ Integration of KT-shelter
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Q&A
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Thank you! ir@w5solutions.com Financial Calendar Q3 Interim Report 5 November 2026 Year-End Report 2026 17 February 2027