Investor Ab Class A · OMXSTO:INVE_A
Investor Ab Class A — Q3 2024 Earnings Presentation
30 slides from Investor Ab Class A's earnings presentation, October 2024
Slide 1: Interim Management Statement January–September 2024
investor Interim Management Statement January — September 2024
Slide 2: Christian Cederholm, President and CEO
investor Christian Cederholm President and Chief Executive Officer
Slide 3: Q3 in summary
investor Q3 in summary * Adjusted net asset value growth 2% * Total shareholder return 8% (SIXRX return index 4%) * Listed Companies: 1% total return * Patricia Industries: 3% total return * Major subsidiaries organic sales growth 7%, adjusted EBITA growth 8% *« SEK 1.9bn add-on acquisitions complet
Slide 4: Business areas
investor Business areas September 30, 2024 Total adjusted assets SEK 1,000bn Adjusted net asset value SEK 986bn Investments in EQT SEK 94bn 9% of total assets Listed Companies SEK 698bn 70% of total assets
Slide 5: Listed Companies
investor Listed Companies ss SEK 698bn ~ 70% of total assets simmer =
Slide 6: Highlights during the quarter
investor Highlights during the quarter * Total return 1 percent * SEB announced new organizational structure to further strengthen customer focus and enable faster time to market * — Ericsson created a joint venture with major telecom operators to combine and sell network APIs on a global scale * —
Slide 7: Patricia Industries
Patricia Industries SEK 212bn 21% of total assets
Slide 8: Highlights during the quarter
investor Highlights during the quarter * Total return 3 percent, mainly driven by earnings growth * Major subsidiaries grew sales by 7% organically in constant currency, adjusted EBITA by 8% * Piab Group completed strategic add-on acquisitions, total SEK 1.9bn enterprise value * Piab Group financed
Slide 9: Add-on acquisitions remain a strategic priority
investor Add-on acquisitions remain a strategic priority Piab Group FeiYun Alum-a-Lift SEK ~250m annual sales, profitability in line USD ~26m annual sales, margin slightly with Piab Group accretive to Piab Group Leading Chinese provider of vacuum US-based provider of electronic lifting conveyors and
Slide 10: Add-on acquisitions SEK bn 2015–2024 YTD
SEK bn 12 10 8 6 4 2 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 YTD
Slide 11: Operating performance
investor Operating performance Org. growth,% EBITAmargin, EBlTAmargin, Value, Q3 2024 % Q3 2024 Change pp SEK bn Vectura >k 167" 125 49 37 Laborie! 25 305 -0.6 266 ROYANGED 13 418 1.0 13.6 Tacks 9 251 -0.4 91.6 permobil 5 227 07 19.0 Dpiab 5 21.0 43 14.2 sarnovay< 5 167 1.0 20.2 “Tanuas aumigooies {
Slide 12: Mölnlycke sales and margins
Antiseptics 3% Gloves 12% Wound Operating Care Room • 59% Solutions 26% • EUR m • 600 35 500 30 • 25 400 20 • 300 15 200 • 10 100 5 0 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 20 20 21 21 21 21 22 22 22 22 23 23 23 23 24 24 24 Sales EBITDA, % EBITA, %
Slide 13: Quarterly and LTM results (SEK m)
1 000 1 500 2 000 2 500 3 000 3 500 4 000 4 500 0 500 SEK m Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Quarterly Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 LTM (RHS) Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 2
Slide 14: Slide 14
Slide 15: Highlights during the quarter
investor Highlights during the quarter * Total return 7 percent * EQT AB total return 11 percent * Funds investments O percent * Net cash flow to Investor SEK 0.4bn * Drawdowns from Investor SEK 0.5bn * Proceeds to Investor SEK 0.9bn Investments in EQT SEK 94bn 9% of total assets * — Intention to in
Slide 16: Strategy remains intact, focus on delivering
investor Strategy remains intact, focus on delivering
Slide 17: Slide 17
Slide 18: Helena Saxon, Chief Financial Officer
investor Helena Saxon Chief Financial Officer
Slide 19: Grow net asset value
investor Grow net asset value SEK bn 1200 1000 800 600 400 200 2017 2018 2019 2020 2021 2022 2023 2024 -200 Listed companies mPatricialndustries mlnvestmentsinEQT mOther assets &liabilities =Net debt 19
Slide 20: Total return by business area
23 7 22 22 14 3 2 1 Listed Patricia Investments in Total Listed Patricia Investments in Total Companies Industries EQT Companies Industries EQT
Slide 21: Listed Companies — Total return
investor Listed Companies — Total return Q3 2024 % 20 15 10 5 SIXRX 4% 02 fone lanes ea oo ... POPPE TET TeTeTeTeetetirereeeerirereetettrerererrtrere rere trerer erie ete rete Total 1% emcsson 2 @SOHI jt Nasdaq <)] won Cépirocc ABB SEB seem || | | 5 Electrolux asrazeneekt strazeneca FQ rs lux ‘1 EQ)
Slide 22: SEK m
SEK m 8 000 6 000 4 000 2 000 0 -2 000 -4 000 -6 000 -8 000
Slide 23: Patricia Industries - major drivers of estimated market values
investor Patricia Industries - major drivers of estimated market values Q3 2024 SEK 225bn (incl. cash) SEK 219bn (incl. cash) +3% Q2 2024 Q3 2024 23
Slide 24: Patricia Industries — change in estimated market values
investor Patricia Industries — change in estimated market values Q3 2024 Q22024 PiabGroup Mélnlycke — Laborie Samova _—_-Permobil Tre Advanced —Atlas_-—‘BraunAbility Financial —_‘Vectura Health Care Skandinavien Instruments Antibodies Investments PatriciaCash Q3 2024 24
Slide 25: EQT AB and fund investments cash flow
11 1 000 800 600 7 400 200 0 -200 -400 -600 0 -800 EQT AB Fund investments Total Drawdowns Proceeds Dividends Net cash flow
Slide 26: Net cash flow to Investor
investor Net cash flow to Investor Average 1000 i _ 2015 2016 2017 2018 2019 2020 2021 2022 2023 YTD 26
Slide 27: Leverage
20 15 10 5 0 -5 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Leverage target range Leverage
Slide 28: Total shareholder return: Investor B vs SIXRX
% 60 50 40 30 20 10 0 YTD 1 year 5 years 10 years 20 years Investor B SIXRX
Slide 29: investor
investor
Slide 30: Financial calendar
investor Financial calendar January 23, 2025 Year-End Report 2024 April 23, 2025 Interim Management Statement January-March 2025 Jacob Lund May 7, 2025 Chief Communications & Sustainability Officer 9 +46 725 60 2157 Annual General Meeting Jacob.lund@investorab.com July 17, 2025 Interim Report Januar