Nelly Group Ab · OMXSTO:NELLY

Nelly Group Ab — Q3 2026 Earnings Presentation

18 slides from Nelly Group Ab's earnings presentation, Oct 22, 2026

1. Slide 1: Nelly Group Investor Presentation Q3 2026

   Nelly Group INVESTOR PRESENTATION Q3 2026 22 October 2026

2. Slide 2: Nelly Group Q3 2026 Presentation

   Nelly Group Q3 2026 Presentation Helena Karlinder-Östlundh Josefin Dalum CEO CFO ir@nelly.com www.nellygroup.com

3. Slide 3: Introduction to NELLY

   d ‡ Introduction to NELLY ‡ O O O O O ‡ Financial summary ‡ Q&A

4. Slide 4: Introduction to NELLY

   d ‡ Introduction to NELLY ‡ d d d d d ‡ Financial summary ‡ Q&A

5. Slide 5: A mixed quarter with continued focus on structural improvement

   A mixed quarter with continued focus on structural improvement ‡ Net revenue 10.3% (18.4%), supported by end-of-season sale ‡ Operating margin 13.5% (15.3%) ‡ Operating profit 42.4 MSEK (43.3 MSEK) ‡ Work to refine the business model continues

6. Slide 6: Active customers

   Active customers ‡ Active customers in the Nordics increased on LY & Q2 Active customers Nordics LTM (000) 1150 1100 1070 ‡ Growth driven by returning 1 055 customers & higher marketing 1050 1032 1029 1027 1030 1001 1 019 intensity 1000 973 968 943 950 926 911 926 928 ‡ New customers & organic traff

7. Slide 7: Gross margin

   Gross margin ‡ 56.5% (56.8%) Gross margin (%) 60% ‡ Higher own brand share 57% 57% 55% 55% 53% 55% 54% 55% contributed positively 55% 53% 52% 51% 50% 50% 49% 49% 45% ‡ Increased campaign activity 41% weighed on the margin 40% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2023 2023 2023 2023 2024 2024

8. Slide 8: Own brand share

   Own brand share ‡ 66.9% (62.2%) Own brand share (%) ‡ Own brands continue to resonate, 70% 67% 64% 65% 62% 62% 63% most notably in pants, jeans & 60% 55% knitwear 55% 50% 50% 47% 45% 44% 45% 41% 39% 40% ‡ Share helped by category mix, 40% 36% 36% which varies between quarters 35% 30% Q1 Q2 Q3 Q4 Q1

9. Slide 9: Return rate

   Return rate ‡ 25.6% (26.1%) Return Rate (%) 41% ‡ Helped by category mix, which 38% 38% varies between quarters 36% 34% 33% 33% 31% ‡ Also impacted by fashion trends, 31% 28% 28% 27% 27% 28% 26% 26% 25% 26% with certain silhouettes carrying 23% higher returns 21% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

10. Slide 10: Operating margin

    Operating margin ‡ 13.5% (15.3%) Operating margin (%) 20% 15% 15% 15% 10% 11% 11% 13% 9% 14% ‡ Higher gross profit offset by 8% 8% 10% 3% 5% 3% higher operating costs 5% 1% 0% -5% -10% -14% ‡ Marketing & distribution costs up -15% as a share of net revenue -20% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

11. Slide 11: Financial summary

    d ‡ Introduction to NELLY ‡ O O O O O ‡ Financial summary ‡ Q&A

12. Slide 12: Net revenue increase driven by higher campaign activity and focus on sell through

    Financial Summary Net revenue increase driven by higher campaign activity and focus on sell through. Net Revenue, MSEK ‡ Sales increase of 10.3% year-over- +10.3% year (8.9% in local currencies) 371 Campaign driven sales with focus 362 314 318 284 346 313 ‡ 222 240 248 243 on sell through Q1 Q2 Q3 Q

13. Slide 13: Higher cost base offset gross profit growth, EBIT largely flat

    Financial Summary Higher cost base offset gross profit growth, EBIT largely flat. Increase in total operating expenses of 16.6 Operating expenses, MSEK FULFILMENT/ NET REV. MSEK +17 135 11.6 % ‡ Fulfillment and distribution increase of 118 Last year: 11.0 % 4.9 MSEK MRKT/NET REV. ‡ Marketing up on i

14. Slide 14: Strong balance sheet despite weaker operating cash flow

    Financial Summary Strong balance sheet despite weaker operating cash flow Operating cash flow of -30.1 MSEK (-18.5 MSEK) ‡ Driven by working capital, mainly inventory build- Cash flow from operations up 106 104 99 ‡ Investing cash flow -8.7 MSEK: new Gothenburg 72 office and store 50 51 ‡ Financing

15. Slide 15: Summary of 2026 so far learnings & actions

    Summary of 2026 so far learnings & actions ‡ Q3 managed with discipline, but growth required higher marketing & discount intensity ‡ Targeted investment in Germany continues to yield good response ‡ Assortment appeal & brand positioning still need sharpening ‡ Work to increase precision & speed cont

16. Slide 16: Our strategy holds firm

    Our strategy holds firm ‡ Offering a highly sought-after assortment remains central to growing profitably ‡ A faster supply chain a key next step ‡ New Gothenburg HQ for even closer collaboration ‡ Sharper brand position, including a third flagship store in Gothenburg

17. Slide 17: Q&A

    Q&A

18. Slide 18: Thank you

    Thank you

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