Slide 1: Q2 2026
Q2 2026 July 17, 2026 Helena Hedblom, President and CEO Håkan Folin, CFO Karin Larsson, VP IR & Media
Slide 2: Highlights Q2 2026
Highlights Q2 2026 Profitable growth: Orders +13%, Revenues +10%, EBIT +17% Orders received MSEK 17 305 (15 276), +13% organic, driven by mining • Organic equipment growth +30% • Organic service growth +6% • Highest growth within exploration Revenues +11% organically to MSEK 16 702 (15 130) Improved
Slide 3: Group orders received: High mining demand
Group orders received: High mining demand Orders received +13% Strong mining demand • +13% organic • MSEK 17 305 (15 276) • Organic equipment growth +30% • 0% currency • Strong mining and stable • MSEK 720 (230) in large orders* • 0% structure infrastructure Orders received Organic growth Orders rec
Slide 4: Innovation
Innovation 150 global customers attended Epiroc World Expo to explore technologies addressing key mining challenges: deeper mines, lower ore grades, and higher safety requirements • Automation that removes people from risk • Deep automation, automated rock reinforcement, underground exploration and
Slide 5: FILM: Epiroc World Expo 2026
FILM: Epiroc World Expo 2026 2m22s Q2 2026 5
Slide 6: Aftermarket 64% of revenues
Aftermarket 64% of revenues Aftermarket demand driven by mining Revenue split • Service orders +6% organically • Tools & Attachments orders +4% organically 23% (24) T&A 36% (33) Equipment Aftermarket revenues 64% (67) Aftermarket 64% (67) • Service revenues +7% organically • T&A revenues +7% organic
Slide 7: Group revenues and operating profit
Group revenues and operating profit Revenues +10%, MSEK 16 702, +11% organic Adjusted EBIT +12%, MSEK 3 349 (2 984) • 36% equipment (33) and 64% aftermarket (67) • Organic MSEK +570 supported by efficiency measures EBIT +17%, MSEK 3 316 (2 831) taken in previous quarters and high invoicing Adjusted
Slide 8: Equipment & Service: Orders received
Equipment & Service: Orders received Orders received +17% Strong mining, incl. exploration +17% organic growth • MSEK 13 432 (11 506) • Large orders of MSEK 720 (230) • +30% for equipment • +6% for service Orders received Organic growth Orders received bridge -9% organic 14 230 +17% 13 432 27 12 388
Slide 9: Equipment & Service: Revenues and operating profit
Equipment & Service: Revenues and operating profit Revenues +12%, MSEK 12 839, +13% organic Adjusted EBIT +13%, MSEK 2 967 (2 626) • 46% equipment (44), +21% organic • Organic: efficiency measures taken and high invoicing • 54% service (56), +7% organic Adjusted margin 23.1% (23.0) EBIT +15%, MSEK 2
Slide 10: Tools & Attachments: Orders received
Tools & Attachments: Orders received Orders received +3% High customer activity • +4% organic growth within mining • -1% currency • MSEK 3 864 (3 743) Orders received Organic growth Orders received bridge -9% organic 9 4 187 4 099 8 3 947 3 938 3 864 3 656 3 743 3 677 3 645 4 4 +3% 3 2 2 0 -1% 3 864
Slide 11: Tools & Attachments: Revenues and operating profit
Tools & Attachments: Revenues and operating profit Revenues +5%, MSEK 3 854, +7% organic Adjusted EBIT +3%, MSEK 488 (474) • Currency -2% • Organic: Efficiency measures taken EBIT +30%, MSEK 488 (376) Adjusted margin, 12.7% (12.9) Operating margin 12.7% (10.3) Adjusted operating profit bridge Revenu
Slide 12: Costs, net financials and tax
Costs, net financials and tax Cost lower in relations to revenues Administration, marketing and R&D expenses • Costs higher in absolute terms +6% Net financial items MSEK -130 (-131) 2 746 2 742 2 714 2 712 2 648 2 552 2 565 2 496 • Net interest MSEK -144 (-198) 2 447 17.5 17.4 Tax expense MSEK -760
Slide 13: Operating cash flow
Operating cash flow Operating cash flow and cash conversion rate, % Operating cash flow MSEK 1 902 (1 104) • Higher operating profit 3 956 • Lower taxes paid 104 105 100 Cash conversion rate 93% (94) 90 94 90 93 88 88 2 577 2 476 1 902 1 789 1 609 1 569 1 300 1 104 Q224 Q324 Q424 Q125 Q225 Q325 Q425
Slide 14: Net working capital
Net working capital Net working capital +10% to Net working capital Working capital MSEK 24 901 (22 739) • Higher inventories 24 901 25 045 • Increased payables 37.8 37.5 37.1 22 739 Inventories +4 634 • 37.1% (37.5) of revenues 21 373 22 652 25 045 24 901 18 018 22 739 Receivables +166 11 271 11 79
Slide 15: Capital efficiency
Capital efficiency • Net debt MSEK 11 430 (13 284) Net debt and Net debt/EBITDA Capital employed and ROCE • Net debt/EBITDA 0.75 (0.82) 63 563 • ROCE 19.3% (20.2) 60 750 60 113 • Lower operating profit 1.04 0.82 • Sequential improvement 0.75 from 18.5% 15 801 13 284 11 430 22.4 20.2 19.3 Q224 Q225 Q
Slide 16: Commitment to long-term delivery
Commitment to long-term delivery History of translating orders into EPS and cash growth Orders +80% Revenues +83% EBIT +91% Adj. EBIT +83% Basic EPS +94% Operating cash flow +171% +80% +83% +91% +83% +94% +171% 66 757 62 385 12 168 12 259 7.31 8 255 37 168 34 150 6 373 6 714 3.77 3 051 8% 8% 8% 8% 9
Slide 17: Summary
Summary Demand in Q2 • Strong mining demand • Orders +13% organically to BSEK 17.3 • High invoicing • Improved margins • Strong cash conversion Looking ahead • In the near term, we expect mining demand to remain high and demand from infrastructure customers to increase somewhat. Q2 2026 17
Slide 18: Q&A
Q&A ir@epiroc.com Q1 2025 18
Slide 19: Eager to know more about Epiroc?
Eager to know more about Epiroc? Useful links • Financial publications incl. Key figures and pre-results mail • Calendar • Annual and Sustainability Report • CMD Karin Larsson Alexander Apell Gustaf Bratt VP IR & Media IRO IR Project Manager +46 10 755 0106 +46 10 755 0719 +46 10 755 0114 ir@epiroc.
Slide 20: Appendix
Appendix Q1 2025 20
Slide 21: Leading productivity and sustainability partner with roots from 1873
Leading productivity and sustainability partner with roots from 1873 Orders received Orders received* Revenues in 66 757 ~150 countries 62 213 62 974 Europe 58 899 ~ 19 400 North America 13% 53 222 employees 30% 45 648 39 400 39 492 Adj. EBIT margin* 36 579 19.7% Africa/ Asia / Australia Middle East
Slide 22: Our strategy is our investment case
Our strategy is our investment case We accelerate the productivity We have a high proportion We have a well-proven and sustainability transformation of recurring business business model in our industry Operational Operational Attractive niches Innovation Aftermarket Outperformance excellence excelle
Slide 23: Financial goals at a glance
Financial goals at a glance Goals Description Q2 2026 2025 2016-2025 Growth Annual revenue growth of 8% over a business cycle. 10% -3% 10% p.a. Industry-best operating margin, with strong 19.9% 19.2% 20.3% Profitability (EBIT) resilience over the cycle. Adj. 20.1% Adj. 19.6% Adj. 20.8% Improve capit
Slide 24: 2030 goals for people and planet
2030 goals for people and planet • No work-related injuries • Balanced workforce and double the number of women in operational roles • Have all employees and business partners comply with our Code of Conduct and Responsible Sales Assessment Process implemented • Halve CO2e emissions in operations* •
Slide 25: Sustainability: People & Planet
Sustainability: People & Planet • Increased safety • Total recordable injury frequency rate decreased to 3.8 (4.2) • 19 398 (19 080) employees • Women employees 20.6% (20.1) • Women managers 25.2% (25.5) • CO2e emissions from operations and company vehicles* -11% to 45 437 (51 073) tonnes • Renewabl
Slide 26: Debt information and maturity profile
Debt information and maturity profile Maturity profile (MSEK) • Net debt/EBITDA: 0.75x 9 539 • S&P rating: BBB+ Stable outlook • External financing: BSEK 15.4 4 000 • 90% long term financing • 54% green or sustainability linked • 3.8 years average tenor (long-term) • Average interest duration: 15 mo
Slide 27: The profit bridge currency effect
The profit bridge currency effect What you see in What you get in our Impact The details you our report key figures Q226 cannot see… Income statement effect 1a. Translation converting subsidiaries to SEK 1. Translation MSEK -340 Income statement effect from balance sheet 1b. Internal profit Total op
Slide 28: United. Inspired.
United. Inspired. Performance unites us, innovation inspires us, and commitment drives us to keep moving forward. Count on Epiroc to deliver the solutions you need to succeed today and the technology to lead tomorrow. epiroc.com
Slide 29: Disclaimer
Disclaimer - Some statements in this presentation, or in conclusion to it, are forward-looking and the actual outcome may be different. In addition to the factors explicitly commented upon, the actual outcome may be affected by other factors such as macroeconomic conditions, movements in foreign exc