Oriola Corp Class B · OMXHEX:ORIOLA
Oriola Corp Class B — Investor Day (May 2026)
70 slides from Oriola Corp Class B's investor day presentation, May 12, 2026
Slide 1: From ambition to action – delivering profitable growth and creating value
From ambition to action – delivering profitable growth and creating value Oriola’s Capital Markets Day 12 May 2026
Slide 2: Agenda for the day
Agenda for the day 9:00-10:00 10:30-11:30 From ambition to action – delivering Future-proof supply chain profitable growth and creating value Tuomas Tiilikainen, Chief Supply Chain Officer Katarina Gabrielson, CEO Profitability and shareholder value Partnership-based distribution services Mats Danie
Slide 3: Disclaimer
Disclaimer The following applies to this presentation, the oral presentation of the information in this presentation by Oriola Corporation (the “Company” or “Oriola”) or any person on behalf of the Company, and any question-and-answer session that follows the oral presentation (collectively, the “In
Slide 4: Katarina Gabrielson
Katarina Gabrielson CEO FROM AMBIT ION TO ACTION
Slide 5: From ambition to action – delivering profitability and creating value
FROM AMBIT ION TO ACTION From ambition to action – delivering profitability and creating value Katarina Gabrielson CEO
Slide 6: Driving positive momentum
Driving positive momentum Accelerate strategy Significant strategic execution, increase • ERP New operating model investments to modernise the • Järvenpää growth opportunities and improve efficiency company Long process due to Common sales Divestment of dose dispensing competition authorities, Manag
Slide 7: Our ambition is to be the leading wholesaler of pharmaceuticals and health products
Our ambition is to be the leading wholesaler of pharmaceuticals and 3 2029 health products 2 1 2028 • The leading wholesaler of 2027 pharmaceuticals and health products in Finland and Sweden • Efficiency across the supply chain, New financial targets: 2026 based on scale, • Growth at least 5% • Stra
Slide 8: What sets us apart – an integrated service engine for growth
What sets us apart – an integrated service engine for growth 1 2 3 4 Highly integrated Customer centricity Built on efficiency Cash generative and synergistic driving the business and reliability business investing business model Value creation through Modernising operations in the future Pharmaceut
Slide 9: Oriola's contribution to the pharmaceutical value chain
Oriola’s contribution to the pharmaceutical value chain PHARMA CO’s & MANUFACTURERS R&D Clinical Clinical Regulatory Market Distribution Health trials logistics approval Manufacturing launch & market assortments & reach brands Commercial Supply & data & demand insights ORIOLA – HEALTH AND WELLBEING
Slide 10: A trusted Nordic partner to industry leaders
A trusted Nordic partner to industry leaders FROM AMBIT ION TO ACTION CAPITAL MARKETS DAY 12 MAY 2026 11
Slide 11: Growing markets with solid market drivers
Growing markets with solid market drivers The growing pharmaceutical distribution market* SWEDEN Market value EUR 6 billion Trends that shape our industry and Market share 42% +4-5% provide business opportunities 8.5 7.7 8.1 +8% 7.3 7.0 6.1 6.4 5.6 Specialty and cold 4.8 5.1 Ageing population storag
Slide 12: From ambition to action: Same strategic direction and goals with adjusted execution
From ambition to action: Same strategic direction and goals with adjusted execution and capability focus PORTFOLIO STRONG ENHANCED AND MARKET PARTNERSHIPS EFFICIENCY EXPANSION Further improve customer focus and commercial performance Market expansion with services that truly add value Execute on ong
Slide 13: Doubling profitability through focused execution by 2029
Doubling profitability through focused execution by 2029 Efficiency Investments • Cost / Net sales improvement Organic growth (target below 75%) • Modernise the company Current state • Target to grow at least +5% p.a. • Growing business ADJUSTED 35 MEUR +10 MEUR +10 MEUR +10 MEUR EBITDA FROM AMBIT I
Slide 14: This is the new Oriola – focused, efficient, and built for long-term value creation
This is the new Oriola – focused, efficient, and built for long-term value creation 1 Essential societal relevance and strong market position 2 Stable market and predictable demand 3 An integrated service-centric business model 4 Clear levers for efficiency and growth Our new financial targets direc
Slide 15: Satu Nylén
Satu Nylén Executive Vice President, Services and Products FROM AMBIT ION TO ACTION
Slide 16: Partnership-based distribution services
FROM AMBIT ION TO ACTION Partnership- based distribution services Satu Nylén EVP, Services and Products
Slide 17: Strategic service partner in the Nordics
SERVICES | DIST RIBUT IO N Strategic service partner in the Nordics Reducing Nordic complexity through one integrated service platform PRINCIPALS ORIOLA CUSTOMERS Pharmaceutical Pharmacies companies Services, Distribution Health tech & Hospitals and Medical devices Healthcare Services, Advisory Heal
Slide 18: Oriola connects global pharma to Nordic patients
SERVICES | DIST RIBUT IO N Oriola connects global pharma to Nordic patients One scalable platform that removes complexity and secures availability 1 2 3 Strategic service Value beyond Revenue quality and partner in Nordics logistics mix optimisation High-trust, regulated services Scalable operating
Slide 19: Value creation through simplifying what matters most for our customers
SERVICES | DIST RIBUT IO N Value creation through simplifying what matters most for our customers Reliable & compliant end-to-end supply – GXP, 24 h, controlled, traceable +250 Number of pharma suppliers/partners Specialty flows – driving growth NPS 48 Strong partnerships, customer centric developme
Slide 20: Profitable growth by maximising customer value and operational efficiency
SERVICES | DIST RIBUT IO N Profitable growth by maximising customer value and operational efficiency 1 4 Lower cost/pack Account plans that improve Service mix, Unit cost reduction through end-to- value and contribution pricing, capacity end optimisation 2 5 One setup, Value-added services Increase
Slide 21: MSD has chosen Oriola as their key Nordic partner
SERVICES | DIST RIBUT IO N MSD has chosen Oriola as their key Nordic partner Partnership example SCOPE OF PARTNERSHIP HOW IT WORKS BENEFITS FOR MSD Multiple markets, multiple flows One partner – one set-up Oriola account team for MSD Human health, Animal health Less interfaces, lower operational Ser
Slide 22: Oriola connects global pharma to Nordic patients
SERVICES | DIST RIBUT IO N Oriola connects global pharma to Nordic patients One scalable platform that removes complexity and secures availability 1 2 3 Strategic service Value beyond Revenue quality and partner in Nordics logistics mix optimisation FROM AMBIT ION TO ACTION CAPITAL MARKETS DAY 12 MA
Slide 23: Katja Lundell
Katja Lundell Executive Vice President, Advisory Services FROM AMBIT ION TO ACTION
Slide 24: Advisory services with Nordic coverage
FROM AMBIT ION TO ACTION Advisory services with Nordic coverage Katja Lundell EVP, Advisory Services
Slide 25: Trends shaping the pharmaceutical industry and providing opportunities for advisory services
SERVICES | ADVISO RY Trends shaping the pharmaceutical industry and providing opportunities for advisory services THE IMPENDING PATENT CLIFF Between 2025 and 2030, patent protection will expire for nearly 200 drugs. INCREASED PRICING PRESSURE Pricing pressure is structural, persistent, and multi-dir
Slide 26: The Nordic pharma advisory service platform – built to scale
SERVICES | ADVISO RY The Nordic pharma advisory service platform – built to scale 1 2 3 The Nordic end-to- AI and proprietary A clear path to 2029 – end pharma advisory data are our structural and the momentum to 120+ experts across differentiator get there 3 Nordic offices Unique data and insights
Slide 27: Value creation through deep expertise, data innovations and flexible partnerships
SERVICES | ADVISO RY Value creation through deep expertise, data innovations and flexible partnerships Reliable & compliant expert lead services +200 Number of pharma partners in 2025 Specialty data and tech innovation – driving the future growth NPS 70 Strong partnerships, personal service model an
Slide 28: The AI Multiplier Oriola Insights Platform – ARR Trajectory
CO MMERCI AL DAT A & INSIG HT S O RIO LA ADVISO RY The AI Multiplier Oriola Insights Platform – This is not just a stand-alone business unit. It is the intelligence ARR Trajectory layer that makes every other unit more valuable – and the source Oriola Insights + Pulse + Data sales (stable and proven
Slide 29: Building scalable advisory business with data innovation and AI at the core
SERVICES | ADVISO RY Building scalable advisory 2029 business with data innovation Scale with partners and AI at the core Commercial excellence Build capabilities and Scale AI & data operating model for Strengthen commercial scalable growth with excellence and global partners. Accelerate SE & DK Sca
Slide 30: The Nordic pharma advisory service platform – built to scale
SERVICES | ADVISO RY The Nordic pharma advisory service platform – built to scale 1 2 3 The Nordic end-to- AI and proprietary A clear path to 2029 – end pharma advisory data are our structural and the momentum to differentiator get there Our ambition is to be the leading advisory partner in the Nord
Slide 31: Satu Nylén
Satu Nylén Executive Vice President, Services and Products FROM AMBIT ION TO ACTION
Slide 32: Health products in growing channels
FROM AMBIT ION TO ACTION Health products in growing channels Satu Nylén EVP, Services and Products
Slide 33: Strategic service partner in the Nordics
PRO DUCT S Strategic service partner in the Nordics One partner, one interface for simplicity and speed – combined flows for efficiency SUPPLIERS ORIOLA CUSTOMERS Pharmaceutical Pharmacies companies Services, Distribution Health tech & Hospitals and Medical devices Healthcare Services, Advisory Heal
Slide 34: Enabling suppliers and retailers to capture growth in health products across Nordics
PRO DUCT S Enabling suppliers and retailers to capture growth in health products across Nordics 1 2 3 One door Portfolio aligned to Portfolio multichannel access growth channels optimisation for Efficiency in combined Health product expertise to margin improvement pharmaceutical & health grocery and
Slide 35: Commercial hub for scalable growth in health products across Nordic retail
PRO DUCT S Commercial hub for scalable growth in health products across Nordic retail Portfolio expansion > 2300 B2B Customers FI & SE Expertise in health to support category growth +400 Suppliers One partner – multi-market, multi-channel access 49 Oriola own & exclusive brands Local activation to s
Slide 36: Focused growth plan for the Wholesale portfolio
PRO DUCT S Focused growth plan for the Wholesale portfolio 1 Portfolio aligned to growth channels Focus where demand is growing 2 Accelerated renewal and launches Increase relevance and coverage 3 Reduce price pressure, improve Shift to differentiated offering margin quality 4 Dynamic pricing Optimi
Slide 37: Supporting e-pharmacy OLO in scalable growth
PRO DUCT S Supporting e-pharmacy OLO in scalable growth Partnership example SCOPE OF PARTNERSHIP HOW IT WORKS BENEFITS FOR OLO Shared strong growth ambition Joint monthly reviews Less complexity and costs – Building growth and relevance via portfolio expansion Co-creation – Testing and learning cons
Slide 38: Dose dispensing in Finland – a trusted, scalable growth platform service to pharmacies
PRO DUCT S Dose dispensing in Finland – a trusted, scalable growth platform service to pharmacies Best-in-class medical safety and quality 300 Pharmacies Sustainable use of medicines Ensured customer flow for pharmacies ~1 M Poach rolls yearly Key actions +5% Solid demand • Capture growing private s
Slide 39: Enabling suppliers and retailers to capture growth in health products across Nordics
PRO DUCT S Enabling suppliers and retailers to capture growth in health products across Nordics 1 2 3 One door Portfolio aligned to Portfolio multichannel access growth channels optimisation for margin improvement FROM AMBIT ION TO ACTION CAPITAL MARKETS DAY 12 MAY 2026 40
Slide 40: Tuomas Tiilikainen
Tuomas Tiilikainen Chief Supply Chain Officer FROM AMBIT ION TO ACTION
Slide 41: Future-proof supply chain
FROM AMBIT ION TO ACTION Future-proof supply chain Tuomas Tiilikainen Chief Supply Chain Officer
Slide 42: Solid foundation for long-term value creation
Solid foundation for long-term value creation 1 2 3 Modernising our Building a strong Clear roadmap to physical infrastructure digital backbone increased efficiency and Strategic infrastructure investments We are building an integrated digital profitability position us to capture market growth, back
Slide 43: Transforming our infrastructure for scalable growth and profitability
Transforming our infrastructure for scalable growth and profitability Scale & accelerate • Increased efficiency • Service expansion • Scalable growth Modernise & digitalise • Physical infrastructure: Järvenpää and Enköping • Strong digital backbone Focus & simplify • Divest non-core operations • Net
Slide 44: Building the next generation of pharmaceutical distribution in Järvenpää
Building the next generation of pharmaceutical distribution in Järvenpää Driving profitability Capturing market growth Sustainable competitive advantage +2X automation • Cold-chain capacity • Optimal centre of gravity • Multichannel ready • 50% more energy efficient +25% peak throughput • Modular &
Slide 45: Sweden's infrastructure upgrade – enabling growth, reliability and efficiency
Sweden's infrastructure upgrade – enabling growth, reliability and efficiency Strategic rationale Growing pharma demand and evolving customer requirements require scalable and efficient infrastructure What we are doing ~EUR 5 million automation upgrade at Enköping to increase capacity, efficiency, a
Slide 46: A modernised digital backbone: Driving scalability and efficiency across the value chain
A modernised digital backbone: Driving scalability and efficiency across the value chain Value Harmonising legacy Reducing capital tie- Digitising shopfloor Leveraging advanced Automating the creation systems into a single up and optimising execution via paperless analytics for operational generatio
Slide 47: Cost per pack development 2023 – 2029E
Roadmap to increased profitability: Cost per pack Consistent 5% annual cost-per- pack efficiency improvement, even in an inflationary environment. 2023–2025: 5% annual cost-per-pack reduction over the last three years, driven by 100% Cost per pack development 2023 – 2029E Strategic investments unloc
Slide 48: Solid foundation for long-term value creation
Solid foundation for long-term value creation 1 2 3 Modernising our Building a strong Clear roadmap to physical infrastructure digital backbone increased efficiency and profitability FROM AMBIT ION TO ACTION CAPITAL MARKETS DAY 12 MAY 2026 54
Slide 49: Mats Danielsson
Mats Danielsson Chief Financial Officer FROM AMBIT ION TO ACTION
Slide 50: Profitability and shareholder value
FROM AMBIT ION TO ACTION Profitability and shareholder value Mats Danielsson CFO
Slide 51: From ambition to action – delivering profitability and creating value
From ambition to action – delivering profitability and creating value 1 2 3 The new revenue Our ambition level for Doubled EBITDA and recognition policy 2029 is reflected in a strengthened equity improve transparency the new financial by 2029 will support in our financial and targets – growth at fut
Slide 52: Strategic service partner complemented with own products
Strategic service partner complemented with own products Net sales by segment (2025) Services segment Products segment EUR million • Distribution • Wholesale • Advisory • Finnish dose dispensing 201.6 -11.2 business 66.3 146.5 Financial characteristics: Financial characteristics: • High volume and p
Slide 53: New revenue recognition policy improves transparency
New revenue recognition policy improves transparency Income statement Net sales, EUR million* 2026 1-3 2025 1-3 Diff % Services 36.6 35.3 +3.7 approx. 60% margin-based pricing Products 15.4 14.1 +9.2 of which dose dispensing approx. 50% Eliminations -2.2 -4.4 Total 49.8 45.0 +10.7 Adjusted EBITDA, E
Slide 54: New revenue recognition policy improves transparency
New revenue recognition policy improves transparency Balance sheet Inventory and trade payables netted on a customer level Balance sheet 2025 new 2025 old Diff EUR million Non-current assets 289.3 289.3 - Inventories 5.5 188.5 -183.0 Trade receivables 311.7 311.7 - Other receivables 19.7 4.5 +15.2 C
Slide 55: New financial targets to drive growth and efficiency
New financial targets to drive growth and efficiency Financial targets for the strategy period ending 2029 GROWTH BY SEGMENT (Excl. Sw edish dose dispensing) ** +8% +4% With a scalable platform, a 135 146 35 37 cost base that is partly fixed, NET SALES and a negative working +4% +10% At least 5% p.a
Slide 56: Shareholder value creation enablers by 2029
Shareholder value creation enablers by 2029 Efficiency Investments • Cost / Net sales improvement Organic growth (target below 75%) • New ERP drives efficiency and • Controlling cost Current state • Target to grow at synergies base and least +5% p.a. investments • Järvenpää and supports efficiency •
Slide 57: Significant improvement in net profit
Significant improvement in net profit -10 15 30 30 Net Profit (MEUR) -7 Starting point: EBITDA ERP cost impact Leasing and 2029 2025 excl. improvement depreciations Kronans impact (10+10+10) FROM AMBIT ION TO ACTION CAPITAL MARKETS DAY 12 MAY 2026 63
Slide 58: Our approach to capital allocation to generate shareholder value
Our approach to capital allocation to generate shareholder value IMPROVED NET PROFIT Net result to improve significantly by the end of the strategy period CAPEX during the strategy period is to be approx. EUR 20-30 million, mainly CAPEX TO SUPPORT GROWTH in Sweden Cash conversion rate is to be 80-10
Slide 59: From ambition to action – delivering profitability and creating value
From ambition to action – delivering profitability and creating value 1 2 3 The new revenue Our ambition level for Doubled EBITDA and recognition policy 2029 is reflected in a strengthened equity improve transparency the new financial by 2029 will support in our financial and targets – growth at fut
Slide 60: Kronans Apotek
Kronans Apotek Katarina Gabrielson
Slide 61: Kronans Apotek – a strategic asset
Kronans Apotek – a strategic asset Background • Kronans Apotek formed through a merger of Kronans Apotek and Apoteksgruppen in 2022. • Oriola owns 50% of Sweden’s pharmacy chain Kronan’s Apotek through joint venture. • The rationale for this value creating transaction was to create significant syner
Slide 62: Sweden's most present pharmacy, making it easy to get more out of life
Sweden’s most present pharmacy, making it easy to get more out of life One of Sweden’s largest Traded goods/over-the-counter Strong local accessibility + pharmacy chains with ~500 profitability uplift enabled by growing digital presence across physical pharmacies and a full- private label, pricing,
Slide 63: Kronans Apotek: Road to profitability
Kronans Apotek: Road to profitability Build the basics A strong brand and Omnichannel & e- Margin acceleration customer loyalty com scalability Integration is complete, Realise EBITDA effects system stability secured, Define Kronan’s new Improve seamless omni- and expand margins from key foundationa
Slide 64: Short-term initiatives to accelerate profitability improvement
Short-term initiatives to accelerate profitability improvement Revenue and gross margin drivers: Efforts are directed towards strengthening commercial Kronans Apotek is launching initiatives execution, developing pricing and campaign strategies, that are focused on both revenue and optimising produc
Slide 65: Strategic initiatives driving stronger commercial execution and adjusted EBIT uplift
Strategic initiatives driving stronger commercial execution and adjusted EBIT uplift Simplified shopping Enriched customer Operational New business experience offering improvements opportunities • Optimised pharmacy network • Parallel import margin uplift • Automation in the e-com • Build & scale B2
Slide 66: Kronans Apotek is well positioned to win customers and start the journey towards profitability
Kronans Apotek is well positioned to win customers and start the journey towards profitability Revenue at EUR 1.2 billion (+2.8% YoY), driven by a strong Revenue growth Brick-and-Mortar backbone (85% of sales) and a scaling across channels e-commerce channel about to reach 30% revenue growth Strateg
Slide 67: Kronans Apotek
Kronans Apotek
Slide 68: Katarina Gabrielson
Katarina Gabrielson CEO FROM AMBIT ION TO ACTION
Slide 69: Closing remarks: From ambition to action – delivering profitability and creating value
Closing remarks: From ambition to action – delivering profitability and creating value Oriola is a Operational Focus on execution, service excellence and cash generation and company built supply chain as disciplined capital on partnerships value drivers allocation FROM AMBIT ION TO ACTION CAPITAL MA
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