Slide 1: Strong order bookings reinforce market position
Saab interim report January – June 2026 Strong order bookings reinforce market position Micael Johansson, President and CEO Anna Wijkander, CFO Johan Andersson, IR
Slide 2: Important information
Important This presentation may contain forward-looking statements which reflect the Saab Group’s current view on future events information and financial and operational development. Words such as “intend”, “expect”, “anticipate”, “may”, “believe”, “plan”, “estimate” and other expressions which impl
Slide 3: Highlights Q2 2026
Highlights Q2 2026 ▪ Strong business momentum, major contracts awarded ▪ Operational execution driving profitable growth ▪ Production ramp-up – increased customer deliveries ▪ Increased investments in future capabilities ▪ Record order backlog – strong prospects for future growth 3
Slide 4: Growing momentum across major programmes
Growing momentum across major programmes Three A26 submarines 16 Gripen E Canada and NATO selection for Poland for Ukraine SEK 47 bn (booked in Q2) SEK 24.6 bn (will be booked in Q3) of GlobalEye 4
Slide 5: GlobalEye - The most modern and advanced AEW&C capability
GlobalEye - The most modern and advanced AEW&C capability Ultra-long-range: Over 650 km Market-leading AEW&C platform Situational awareness across multiple domains Deeply interoperable sensor architecture The only AEW&C solution currently in production ESM sensors Addresses a critical glob
Slide 6: Key figures
Q2 2026 Key figures Book-to-bill Order bookings, SEK bn Strong growth Sales, SEK bn 68.4 25.5 ratio of 2.7x. from high Backlog of customer SEK 318 bn deliveries and project execution 141% increase YoY 29.8% organic growth YoY EBIT growth EBIT, SEK bn Higher profit Operational cash flow, SEK bn 2.8 -
Slide 7: Aeronautics
Business area Aeronautics ▪ Sales growth driven by expansion of Gripen production and capability development ▪ Successful roll out of first Gripen F aircraft (two-seater) for Brazil ▪ Customer deliveries included Gripen to Sweden and Hungary ▪ T-7A program continued to negatively impact operating pr
Slide 8: Dynamics
Business area Dynamics ▪ Good market demand across the product portfolio ▪ Key orders include NLAW for France, Carl-Gustaf M4 for Lithuania, and VTESS laser-based vehicle training systems for the U.S. Army ▪ Sales growth driven by high level of customer deliveries from production ramp-up ▪ New produ
Slide 9: Surveillance
Business area Surveillance ▪ Strong demand, particularly for surface-based sensor systems and GlobalEye ▪ Canada and NATO selected GlobalEye ▪ Strong momentum for Giraffe 1X, with ~100 systems delivered in H1 2026 and new orders included from Denmark and France in Q2 ▪ High interest in C-UAS portfol
Slide 10: Naval
Business area Naval ▪ Continued high demand for the naval product portfolio ▪ Record export order of SEK 47 bn for A26 submarines from Poland ▪ Ramp up of production capacity in Karlskrona and Landskrona ▪ Additional orders included 9LV software upgrades for Australia and order for Combat Boat 90 to
Slide 11: Combitech
Business area Combitech ▪ Order bookings supported by continued growth in the defence segment ▪ Framework agreement with the NATO Communications and Information Agency (NCIA) for cybersecurity services ▪ New contracts and extensions with the Swedish Defence Materiel Administration (FMV) ▪ Sales in l
Slide 12: Sustainability
Q2 2026 Sustainability ▪ Naval introduced a robot-assisted welding procedure, reducing consumable materials by approximately 70%, lowering CO₂-eq emissions, shortening lead times and improving work environment ▪ Aeronautics redesigned the Gripen pylons to enable 3D printing, lowering CO₂-eq emission
Slide 13: Strong momentum in orders for both short-term and long-term deliveries
Strong momentum in orders for both short-term and long-term deliveries Order backlog deliveries for upcoming 0 - 2.5 years Order backlog deliveries for upcoming > 2.5 years SEK bn SEK bn Year 2 deliveries Year 3+ deliveries Year 1 deliveries +36% Year 3 deliveries H2 deliveries 198 +132% 120 +18% +2
Slide 14: Financial summary
Q2 2026 Financial summary Anna Wijkander, CFO 14
Slide 15: Profitable growth and increased cash flow
Profitable growth and increased cash flow Sales, SEK billion EBIT, SEK billion Operational cash flow, SEK billion +24% +34% 53% 42 52 64 79 88 3.3 4.3 5.7 7.7 9.0 2.6 3.2 2.5 5.3 7.4 2022 2023 2024 2025 R12 2022 2023 2024 2025 R12 2022 2023 2024 2025 R12 Medium term targets (2023-2027) EBIT growth h
Slide 16: Q2 2026 – Improved gross margin
Q2 2026 – Improved gross margin Gross income and margin, SEK million Group EBIT, SEK million +35% +41% 6,000 5,551 5,748 3,500 2,925 5,000 3,000 2,794 4,256 4,475 2,500 4,000 3,642 14% 1,977 1,920 22,6% 2,000 21,5% 3,000 12% 1,500 1,374 11,0% 2,000 1,000 10,0% 10% 1,000 500 8% 0 0 Q2 2025 Q3 2025 Q4
Slide 17: Operating income by business area
Operating income by business area Dynamics, SEK million Surveillance, SEK million +27% 1,800 1,800 +55% 1,600 1,522 1,500 1,422 1,400 1,294 1,194 1,200 1,200 1,000 845 900 24% 800 24% 20,9% 658 637 21% 546 21% 19.6% 18% 600 520 600 446 18% 15% 15% 12% 400 12% 9% 10,9% 11,5% 300 9% 6% 200 6% 3% 3% 0
Slide 18: Operating income by business area
Operating income by business area Aeronautics, SEK million Naval, SEK million 700 500 +35% -14% 600 400 500 339 400 300 349 328 337 240 24% 209 21% 300 249 180 18% 200 212 15% 10% 12% 200 108 9% 5,6% 5,8% 100 6% 5,5% 4,3% 100 3% 0% 0% 0 0 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2 2025 Q3 2025 Q4 20
Slide 19: Increasing R&D for new capabilities
Increasing R&D for new capabilities Internally funded R&D Focus areas Examples SEK billion 4.4 3.6 Autonomy Unmanned Airborne Early Warning on MQ-9B Unmanned collaborative combat aircraft 2.7 Distributed sensors 2.0 1.8 Advanced weapons Nimbrix – C-UAS missile Loitering munitions AI-based command 20
Slide 20: Strengthened cash flow
Strengthened cash flow Group Cash Flow H1 2026, SEK billion ▪ Strong cash flow from operations 6.2 -0.9 ▪ Significant investments for capacity ramp-up ▪ Improved ROCE driven by higher profitability and capital turnover 1.0 -4.4 June 2026 June 2026 Cash flow Change in Investing Operational -1.5 Finan
Slide 21: Net liquidity position
Net liquidity position Liquidity / Debt position, SEK billion Q2 2026 Q2 2026 5 -1x 4 -0,8x -0.2x Net debt/EBITDA* 37.3% Equity/Asset ratio 3 -0,6x 2 -0,4x Q2 2026 Q2 2026 1 0 -0,2x 16.9 Cash and liquid 6.0 Unutilised Revolving Credit 0x investments, SEK bn Facility, SEK bn -1 0,2x -2 0,4x -3 Q2 Q3
Slide 22: Medium term targets
Medium term targets 2023-2027 Organic sales growth ~22% CAGR* EBIT growth higher than Operating income organic sales growth Cash conversion >60%** *CAGR base year 2022, **Cash conversion = Operational cash flow / Adjusted EBIT (cumulative over 2023-2027) SAAB INTERIM REPORT 22 22 JANUARY – JUNE 2026
Slide 23: 23
23