Slide 1: First Quarter 2026 Presentation
First Quarter 2026 Presentation Mark Jensen Benno Eliasson CEO CFO
Slide 2: This is Ambea
This is Ambea The leading care provider in the Nordics Net sales (R12), MSEK Ambea 16 615 Nytida 4 657 Vardaga 5 564 Stendi 3 285 8% Validia 1 593 2% Altiden 1 334 9% 28% Klara 374 Adj. EBITA and adj. EBITA margin (R12), MSEK ~16 600 MSEK Ambea 1 608 9,7% 20% Net sales (R12) Nytida 600 12,9% Vardaga
Slide 3: Highlights of Q1 2026
Highlights of Q1 2026 New care places and stronger earnings • Net sales increased by 16 per cent, driven by 13 per cent acquired growth and solid organic growth of 4 per cent. • Adjusted EBITA for the group amounted to 380 (307) MSEK. Adjusted EBITA margin landed at 9,0 (8,4) per cent. • Continued e
Slide 4: Growth – accelerating signed care places
Growth – accelerating signed care places High level of signed contracts already in the first quarter of 2026 Capacity additions to pipeline 659 Number of care places Only Q1 (not full year) 538 491 346 271 115 2021 2022 2023 2024 2025 2026-Q1 Vardaga Altiden Stendi Nytida Validia 4
Slide 5: Future organic growth
Future organic growth Another strong increase in future pipeline Additions to the pipeline • Vardaga signed three contracts with a total of 240 care places, all nursing homes located in the Stockholm area. Own management pipeline • Altiden signed two contracts with a total of 184 care places, both n
Slide 6: Acquired growth
Acquired growth High M&A activity across markets • Last quarter Validia expanded and entered child welfare services, which is a new sub-segment to Valida in Finland. Acquired annual net sales per business area and year*, • Validia completed the acquisition of Sauma MSEK Lastensuojelupalvelut, adding
Slide 7: Revenue growth
Revenue growth Continued strong growth above target 16,2% 15,7% 15,3% 15,8% 13,1% 13,2% 12,8% 12,9% 7,7% 6,0% 6,3% 6,6% 4,6% 1,5% 1,9% 7,6% 7,2% 5,9% 5,3% 4,9% 4,2% 3,5% 4,0% 4,0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q3 Q1 2024 Q3 Q1 Q2 2025 Q4 2026 Q1 2026 Organic growth Acquired/divested growth Currency & c
Slide 8: Quality and leadership
Quality and leadership Quality award, stable leadership and continued investment in competence development Leadership index: Ambea's Quality Award highlights units 77 Validia brought together 250 managers and employees in an initiative focused delivering high-quality care in line with (Scale 1-100)
Slide 9: Financial summary
Financial summary Benno Eliasson CFO 9
Slide 10: Net sales
Net sales Growth driven by Validia with strong contributions from Vardaga and Nytida +5% +8% 0% 1% -13% 420 3 0 4 220 - 13 110 59 -3 3 644 Net sales Nytida Vardaga Stendi Validia Altiden Klara Elim. Net sales Q1 2025 Q1 2026 Net sales growth per business area 10
Slide 11: Adjusted EBITA
Adjusted EBITA Strong earnings increase 8,4% +0,9pp +0,3pp -1,3pp +3,3pp +2,3pp 9,0% 42 11 1 380 14 -1 17 307 - 11 Adj. EBITA Nytida Vardaga Stendi Validia Altiden Klara Other EBITA Q1 2025 Q1 2026 Total EBITA margin and margin development per business area 11
Slide 12: Operating cash flow
Operating cash flow Quarterly fluctuations affecting 100,3% 100,2% 97,9% 95,9% 95,6% 91,6% 89,8% 91,1% 91,5% 1 040 876 408 686 605 355 610 580 527 425 404 436 344 353 401 356 632 521 360 419 236 252 282 171 209 65 17 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2024 2025 2026 Operating cash flow, excl. growth CAPEX &
Slide 13: Free cash flow R12 excl. IFRS16
Free cash flow R12 excl. IFRS16 High stable free cash flow generation 1 408 - 13 - 108 - 120 - 271 - 92 713 - 91 EBITDA ex. IFRS 16 Other Non cash CapEx Interest excl. IFRS Tax ΔNWC Other Free cash flow 13
Slide 14: Utilization of free cash flow R12
Utilization of free cash flow R12 The strategic acquisition of Validia is reflected in acquisitions and net debt 713 - 185 -1 312 - 521 - 70 -1 375 Free cash flow Dividend Acquisitions Share buyback FX & other Change in net debt 14
Slide 15: Development in EPS
Development in EPS Strong EPS growth continues in the quarter 24%* 10,76 10,38 10,41 9,57 9,24 8,79 8,48 8,56 8,14 7,92 7,80 7,37 7,44 7,12 7,20 6,90 6,14 5,55 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2024 2025 2026 EPS LTM after dilution Adj. EPS LTM after dilution Adjusted EPS excludes IFRS16 and items related
Slide 16: Business overview
Business overview Benno Eliasson CFO 16
Slide 17: Strong earnings improvement continues
Strong earnings improvement continues • Net sales increased by 5 per cent, driven by MSEK Q1 2026 Q1 2025 Change, % acquisitions and start-up units. Net sales 1 181 1 122 5% • EBITA increased by 14 per cent and amounted to 135 EBITA EBITA, % 135 11,4% 118 10,5% 14% 0,9pp (118) MSEK. Own management,
Slide 18: High establishment and strong earnings
High establishment and strong earnings • Net sales increased by 8 per cent, driven by higher MSEK Q1 2026 Q1 2025 Change, % occupancy in new units, supported by the AvAsta Net sales 1 423 1 313 8% acquisition. EBITA 125 111 13% EBITA, % 8,8% 8,5% 0,3pp • Sales in own management increased by 11 per c
Slide 19: Weak earnings performance
Weak earnings performance • Net sales amounted to 820 (823) MSEK. In local MSEK Q1 2026 Q1 2025 Change, % currency, net sales increased by 2 per cent. Net sales 820 823 0% • EBITA decreased to 57 (68) MSEK and EBITA margin EBITA EBITA, % 7,0% 57 8,3% 68 -16% -1,3pp declined to 7,0 (8,3) per cent. Ow
Slide 20: Strong growth and solid profitability
Strong growth and solid profitability • Validia reported its fourth quarter as part of Ambea, with MSEK Q1 2026 Q1 2025 Change, % continued solid performance. Net sales 420 - - • Net sales amounted to 420 MSEK. EBITA EBITA, % 10,0% 42 - - - - • EBITA amounted to 42 MSEK and EBITA margin Own manageme
Slide 21: Significant earnings improvement and new contracts
Significant earnings improvement and new contracts • Net sales amounted to 336 (333) MSEK. In local MSEK Q1 2026 Q1 2025 Change, % currency, net sales increased by 6 per cent driven by Net sales 336 333 1% higher occupancy in both elderly and social care. EBITA 19 8 138% EBITA, % 5,7% 2,4% 3,3pp • S
Slide 22: Improved margin
Improved margin • Net sales decreased by 13 per cent to 87 (100) MSEK, MSEK Q1 2026 Q1 2025 Change, % mainly due to lower demand across several of Klara’s Net sales 87 100 -13% services. EBITA 9 8 13% EBITA, % 10,3% 8,0% 2,3pp • EBITA amounted to 9 (8) MSEK. EBITA margin increased to 10,3 (8,0) per
Slide 23: Concluding remarks
Concluding remarks Mark Jensen CEO 23
Slide 24: Our financial targets
Our financial targets Continued delivery on all financial targets Growth FINANCIAL TARGET: Profitability Leverage FINANCIAL TARGET: FINANCIAL TARGET: 8-10% ANNUAL GROWTH <3.25X NET DEBT / ADJ. 9,5% ADJ. EBITA MARGIN EBITDA (EXCL. IFRS 16) 3 688 9,9% 9,7% 9,8% 9,6% 9,7% 3 545 * 16 615 9,4% 9,6% 8,8%
Slide 25: Outlook post Q1 2026
Outlook post Q1 2026 Focus on quality, growth and Stendi margins • Rollout and implementation of the new group wide quality management system – MiraQ. • Further build on our already industry-leading pipeline of new care units across all countries. • Expand Child Welfare within Validia through contin
Slide 26: Invest in the leading competency-based care company in the Nordics
Q&A Invest in the leading competency- based care company in the Nordics • Growing need • Strong market position • High quality and competence • Substantial growth • Balanced risk • Attractive capital allocation 26
Slide 27: We make the world a better place, one person at a time
We make the world a better place, one person at a time ambea.com 27