Slide 1: Quality Micro cap session
Quality Micro cap session ABGSC Tuesday, Nov 25, 2025 1
Slide 2: Presenters
Presenters Clein Johansson Ullenvik Irene Wisenborn Bellander Group President & CEO CFO 2
Slide 3: Agenda
AGENDA • This is Alligo • Highlights Q3 2025 • Strategy update • Summary and outlook • Q&A
Slide 4: This is Alligo
This is Alligo - AuuiGa *
Slide 5: Alligo – a leading player in workwear, personal protection, tools and supplies in the Nordic region
Alligo – a leading player in workwear, personal protection, tools and supplies in the Nordic region 9,480 2,513 239 MSEK Revenue Employees Stores Revenue EBITA Revenue per geographic area R12 per geographic area R12 per brand category R12 41 19% 10% 18% 59 stores stores 17% 139 73% stores 26% 55% 82
Slide 6: An integrated business with a scalable platform = 80% of sales
An integrated business with a Non-integrated companies add scalable platform = 80% of sales strategic value = 20% of sales • Two strong concept Sales per channel 2025 YTD brands in three markets 46% 20% Stores (SME) Non- integrated Product Media Welding companies 13 profile/product 6 welding special
Slide 7: Building Alligo's scalable platform 2022–2025
Building Alligo’s scalable platform 2022–2025 • Common strategy and core values • Nordic organisation • Simplified legal structure • Coordination of the logistics in SE & NO Continuous • Unified ERP and e-commerce platforms improvements • Common pricing system • Harmonised Nordic standard range in d
Slide 8: Acquisitions is an integral part of Alligo's growth strategy
Acquisitions is an integral part of Alligo’s growth strategy 2025 value creation so far: Completed acquisitions Stores Segments • Battery (1) 4 (7) 33 (12) • Product Media (3) Acquired growth Annual revenue Employees 8.0% (3.7) ≈378 MSEK (317) 115 (77) 8
Slide 9: Highlights Q3 2025
Highlights Q3 2025 9
Slide 10: Q3 2025 business conditions
Q3 2025 business conditions Market situation Proactive management Delivery capacity Macroeconomic factors • Challenging but • Driving sales • Good and stable • Continued economic stable market, more in all countries uncertainty in the • Cost reductions positive signs business cycle • Growth by acqui
Slide 11: Q3 2025 highlights
Q3 2025 highlights Sales Acquisitions Operations • High sales focus in • Two product media • Turnaround Tools FI all countries add-on acquisitions in • Margin improvements • Growth initiatives Sweden, adding 27 MSEK in sales with good • Sales and assortment - Differentiated management profitability
Slide 12: Q3 2025 in brief
Q3 2025 in brief – Improved profitability in all countries Revenue Organic growth Operating cash flow +2.1% Recovery in Finland and -2.7% Acquisition- driven growth of 6.3 % 148 Sweden MSEK (116) Adjusted EBITA Adjusted EBITA margin Gross margin 158 Improved gross margin, cost 7.2% 41.4% MSEK (137)
Slide 13: Q3 – Positive development of own brands and SME in the integrated business in all countries
Q3 – Positive development of own brands and SME in the integrated business in all countries Sweden Norway Finland* SALES PER CHANNEL SALES PER CHANNEL SALES PER CHANNEL 25% (16) Non- 3% (3) Non- 26% (22) integrated 55% (57) Store 22% (22) integrated 49% (47) Non-integrated companies channel (SME) St
Slide 14: Clear financial targets…
Clear financial targets… YTD 2025 YTD 2025 -3.3% 3.1x YTD 2025 5.5% 14
Slide 15: …as well as sustainability targets
…as well as sustainability targets 15
Slide 16: Strategy update
Strategy update 16
Slide 17: Go for growth – prioritized growth areas
Go for growth – prioritized growth areas – Applicable across all our markets Services In-store sales Construction industry Own brands Develop further in Develop our in-store Establish a strong Expand our own brands services, conceptualise sales in line with best position in construction our offering
Slide 18: ReCare – washing, repair, and reuse of workwear
ReCare – washing, repair, and reuse of workwear • Aims to strengthen Alligo’s long-term Cost savings for customers* competitiveness and profitability ̶ ̶ Launched in Sweden in Q1 2025 Several signed customers 30% ̶ Strong pipeline ̶ Transparent pricing Traceability (RFID) • The ambition is to launch
Slide 19: Strong differentiated brand portfolio
Strong differentiated brand portfolio – To meet changing customer behavior Premium Mid Affordable 19
Slide 20: Summary & outlook
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Slide 21: Outlook 2025/2026
Outlook 2025/2026 • Improved market sentiment in some segments, but customers remain cautious • Positioned to leverage volume growth and reach financial targets • Strong offering through high-quality own brands, services, store network, and logistics capability • Go for growth 2026: ̶ Sales ̶ Market
Slide 22: Read more at alligo.com/en/ir
Read more at alligo.com/en/ir