Slide 1: Interim report January−June 2026
Presentation Interim report January−June 2026 14 July 2026
Slide 2: The Group's Financial Performance
THE GROUP’S FINANCIAL PERFORMANCE SECOND QUARTER SIX MONTHS MSEK 2026 2025 Change 2026 2025 Change Net sales 7,695 6,943 10.8%1 14,881 13,875 7.2%2 EBITA 1,776 1,562 13.7% 3,365 3,057 10.1% EBITA margin 23.1% 22.5% 0.6 22.6% 22.0% 0.6 Profit before tax 1,389 1,181 17.7% 2,609 2,313 12.8% Net profit
Slide 3: The Business Areas' Financial Performance
THE BUSINESS AREAS’ FINANCIAL PERFORMANCE DENTAL DEMOLITION & TOOLS SECOND QUARTER SIX MONTHS SECOND QUARTER SIX MONTHS MSEK 2026 2025 Change 2026 2025 Change MSEK 2026 2025 Change 2026 2025 Change Net sales 1,678 1,599 4.9% 3,324 3,244 2.5% Net sales 1,806 1,775 1.8% 3,387 3,414 -0.8% EBITA 380 344
Slide 4: Strong Growth in Cash Flow per Share Since IPO
STRONG GROWTH IN CASH FLOW PER SHARE SINCE IPO Free cash flow per share after capex and before dividends and acquisitions CAGR 2014−2026 LTM 20.3% 10.1 9.8 10 8.5 8.6 8 6 5.6 5.7 5.5 4 3.6 3.0 2.6 2.1 1.9 2 1.1 0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 LTM As of Q125, divide
Slide 5: Net Debt Development and Balance Sheet
NET DEBT DEVELOPMENT AND BALANCE SHEET Net debt development Balance sheet 30 June 31 Dec 30 June MSEK MSEK 2026 2025 2025 Times Intangible fixed assets 28,009 26,817 25,843 14000 4 Tangible fixed assets 3,419 3,150 3,004 Financial assets 497 467 451 12000 Inventory 4,760 4,314 4,570 Accounts receiva
Slide 6: Acquired vs Organic EBITA Growth
ACQUIRED VS ORGANIC EBITA GROWTH Average 2015− MSEK 2025 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 EBITA1 6,318 5,917 5,664 4,662 3,709 2,702 2,523 2,168 1,732 1,377 1,186 EBITA from 575 482 536 401 488 222 221 197 198 152 118 acquisitions2 EBITA growth from 12% 10% 9% 12% 11% 18% 9% 10
Slide 7: Development 2015–2025
DEVELOPMENT 2015–2025 CAGR 2015– MSEK 2025 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 EBITA 18% 6,318 5,917 5,664 4,662 3,709 2,702 2,523 2,168 1,732 1,377 1,186 EPS1 16% 8.00 7.27 7.21 6.13 5.26 3.67 3.31 3.06 2.39 2.00 1.78 Interest-bearing 15% 7,801 7,750 6,849 5,590 4,603 3,242 4,040
Slide 8: One Target: To Increase Profits Every Year
ONE TARGET: TO INCREASE PROFITS EVERY YEAR Transportation Products Sales CAGR 2006–2026 LTM 12.8% EBITA CAGR 2006–2026 LTM 17.1% Environmental EBITA before acquisition costs and Technology non-recurring items (MSEK) Systems Solutions Demolition & Tools Dental 2026 2014 2015 2016 2017 2018 2019 2020
Slide 9: Capital Employed
CAPITAL EMPLOYED ROCE excluding goodwill ROCE including goodwill and other intangible assets and other intangible assets 160% 25% 140% 132% 128% 129% 20.9% 20.5% 20.4% 120% 20% 100% 15% 80% 12.5% 10% 60% 50% 40% 5% 20% 0% 0% 2024 2025 2026 LTM 2024 2025 2026 LTM Target ranges 9
Slide 10: Management and Chairman
MANAGEMENT AND CHAIRMAN Per Waldemarson Therése Hoffman Martin Linder Carl Bennet CEO CFO Head of Business Area Chairman Started at Lifco 2006 Started at Lifco 2007 Systems Solutions Born: 1951 Born: 1977 Born: 1971 Started at Lifco 2009 Other assignments Education Education Born: 1972 • Deputy Chai
Slide 11: Lifco Develops Leading Niche B2B Companies
LIFCO DEVELOPS LEADING NICHE B2B COMPANIES Business areas share of sales and EBITA 2026 LTM Leading suppliers of consumables, Dental equipment, dental Wide range of technology and Systems leading solutions Sales 22% service to dentists Solutions providers in Contract EBITA 21% in Europe and the Manu
Slide 12: A Safe Haven for Your Business
A SAFE HAVEN FOR YOUR BUSINESS Lifco is a long-term • Lifco basically never sells a company owner • All decisions taken at local management level The business stays • No forced synergies or integration independent and local • Lifco has never moved a business Incremental and continuous • No big shake
Slide 13: Decentralised Profit-Oriented Culture
DECENTRALISED PROFIT-ORIENTED CULTURE Right person in the right position • Motivated managers who deliver results Continuous pricing optimisation • Focus on customers with potential for sustainable profit growth Optimised management structure • Focus on value adding personnel and minimised bureaucra
Slide 14: Sustainability an Essential Part of Our Business Strategy
SUSTAINABILITY AN ESSENTIAL PART OF OUR BUSINESS STRATEGY Invest in niche companies Climate targets with a sustainable validated by SBTi business model CSRD/ESRS UN Global Compact sustainability report for year 2025 signatory since 2016 14
Slide 15: Prioritised Sustainability Areas and Central Targets
PRIORITISED SUSTAINABILITY AREAS AND CENTRAL TARGETS Reduced climate Motivated employees Sound business practices and environmental impact and safe workplaces Near-term science-based targets, Reduce staff turnover every All employees must be informed validated by SBTi: about the Code of Conduct year
Slide 16: Geographic Footprint
GEOGRAPHIC FOOTPRINT Finland Norway 7% 9% Sweden 9% UK North Germany Asia & America 13% 15% Australia 9% 8% Rest of Italy Europe 6% 23% Rest of world 1% Geographic sales split financial year 2025. 16
Slide 17: Dental
DENTAL Sales split 2025 EBITA and % of total EBITA1 2026 LTM Dental 21% Software and services 5% 1,406 MSEK Manufacturing 25% Sales split by geography 2025 APAC 2% Distribution North America 5% 54% Germany 33% Prosthetics 16% Rest of Europe 40% Norway 10% Sweden 10% 1 Excluding HQ costs. 17
Slide 18: Dental Financial Overview
DENTAL FINANCIAL OVERVIEW Sales (MSEK) EBITA (MSEK) and EBITA margin CAGR 2015−2026 LTM 10.4% CAGR 2015−2026 LTM 14.0% 6411 6306 6331 6030 1600 25% 5295 5123 1400 20% 4393 4290 1200 4185 3817 3590 1000 3435 15% 3266 2840 2826 800 2439 10% 600 1663 1674 1435 400 890 1048 5% 200 0 0% EBITA EBITA margi
Slide 19: Dental
DENTAL Software and Distribution Prosthetics Manufacturing services M+W Dental GmbH 19
Slide 20: Demolition & Tools
DEMOLITION & TOOLS Sales split 2025 EBITA and % of total EBITA1 2026 LTM Other niche machinery 17% 1,628 MSEK Demolition machines 24% Demolition & Tools 24% Sales split by geography 2025 Rest of world 2% Germany 13% APAC 12% Italy 12% North America Attachments 15% for excavators and cranes 59% UK 11
Slide 21: Demolition & Tools Financial Overview
DEMOLITION & TOOLS FINANCIAL OVERVIEW Sales (MSEK) EBITA (MSEK) and EBITA margin CAGR 2015−2026 LTM 15.6% CAGR 2015−2026 LTM 14.4% 7097 6760 6733 2000 30% 6444 6285 1800 25% 1600 4701 1400 20% 1200 3610 3234 1000 15% 2820 800 2261 10% 1725 600 1574 1289 1176 1189 1039 992 400 743 736 862 5% 373 200
Slide 22: Demolition & Tools
DEMOLITION & TOOLS Attachments for Excavators Demolition Machines Other Niche Machinery and Cranes 22
Slide 23: Environmental Technology
ENVIRONMENTAL TECHNOLOGY Sales split 2025 EBITA and % of total EBITA1 2026 LTM Industrial 23% 963 MSEK Recycling products 25% Environmental Technology 14% Sales split by geography 2025 Rest of world 3% Germany 10% Norway 9% APAC 28% UK 7% Marine 52% Rest of Europe North 27% America 16% 1 Excluding H
Slide 24: Environmental Technology Financial Overview
ENVIRONMENTAL TECHNOLOGY FINANCIAL OVERVIEW Sales (MSEK) EBITA (MSEK) and EBITA margin CAGR 2015−2026 LTM 17.9% CAGR 2015−2026 LTM 26.4% 3579 3475 3414 30% 3152 1000 2903 25% 800 20% 2074 1855 1689 600 15% 1463 1124 400 1006 10% 583 200 5% 0 0% EBITA EBITA margin, % 24
Slide 25: Environmental Technology
ENVIRONMENTAL TECHNOLOGY Recycling Products Marine Industrial 25
Slide 26: Transportation Products
TRANSPORTATION PRODUCTS Sales split 2025 EBITA and % of total EBITA1 2026 LTM Industrial mobility 18% Service vehicles 56% 1,046 MSEK Transportation Products 15% Sales split by geography 2025 APAC 5% Rest of world 1% North America 4% UK 29% Rest of Europe 25% Mobility accessories 26% France 11% Swed
Slide 27: Transportation Products Financial Overview
TRANSPORTATION PRODUCTS FINANCIAL OVERVIEW Sales (MSEK) EBITA (MSEK) and EBITA margin CAGR 2015−2026 LTM 21.4% CAGR 2015−2026 LTM 35.2% 4255 3822 1200 30% 3374 1000 25% 2740 800 20% 2336 1725 600 15% 1314 400 10% 774 660 558 554 504 200 5% 0 0% EBITA EBITA margin, % 27
Slide 28: Transportation Products
TRANSPORTATION PRODUCTS Service Vehicles Mobility Accessories Industrial Mobility 28
Slide 29: Systems Solutions
SYSTEMS SOLUTIONS Sales split by division 2025 EBITA and % of total EBITA1 2026 LTM Systems Solutions 26% Special Contract products manufacturing 28% 45% 1,776 MSEK Sales split by geography 2025 APAC 3% Rest of world 1% North America 4% Finland 25% Rest of Europe 24% Infrastructure products 27% Swed
Slide 30: Systems Solutions Financial Overview
SYSTEMS SOLUTIONS FINANCIAL OVERVIEW Sales (MSEK) EBITA (MSEK) and EBITA margin CAGR 2015−2026 LTM 14.9% CAGR 2015−2026 LTM 25.0% 8279 7863 2000 25% 1800 6599 1600 20% 5436 1400 4732 1200 15% 3857 1000 3214 3255 2828 800 10% 2275 2107 600 1805 400 5% 200 0 0% EBITA EBITA margin, % All figures have b
Slide 31: Systems Solutions
SYSTEMS SOLUTIONS Contract Manufacturing Infrastructure Products Special Products 31
Slide 32: Strong Cash Flow Generation
STRONG CASH FLOW GENERATION Operating cash flow after tax, Capex and acquisitions2 before investments1 6000 4000 2.0% 100% 3500 5000 1.8% 3000 90% 4000 1.6% 2500 80% 3000 2000 1.4% 70% 1500 2000 1.2% 1000 1000 60% 1.0% 500 0 50% 0 0.8% Operating cash flow after tax, before investments, MSEK Cash flo
Slide 33: Overview of Acquisitions 2006–2012
OVERVIEW OF ACQUISITIONS 2006–2012 Sales at Total sales Year Company Description Type Country acquisition MSEK Darda Producer of attachments for demolition robots Demolition & Tools Germany MEUR 8 2006 Dental Prime Distributor of dental equipment and services Dental Finland MEUR 3 132 Elektronikprod
Slide 34: Overview of Acquisitions 2014–2016
OVERVIEW OF ACQUISITIONS 2014–2016 Sales at Total sales Year Company Description Type Country acquisition MSEK 2014 MDH Producer of dental prosthetics Dental Germany MEUR 44 400 Auger Torque Producer of earth drills Demolition & Tools UK MGBP 10 J.H. Orsing Dental products Dental Sweden MSEK 20 Prev
Slide 35: Overview of Acquisitions 2017
OVERVIEW OF ACQUISITIONS 2017 Sales at Total sales Year Company Description Type Country acquisition MSEK Haglöf Sweden Professional forest inventory instruments Systems Solutions Sweden MSEK 60 Hultdins Manufactures tools for forest machines Demolition & Tools Sweden MSEK 152 Environmental Silvent
Slide 36: Overview of Acquisitions 2018–2019
OVERVIEW OF ACQUISITIONS 2018–2019 Sales at Total sales Year Company Description Type Country acquisition MSEK Computer konkret Software for dentists Dental Germany MEUR 3.8 Spocs Assembling and testing of electronic products Systems Solutions Sweden MSEK 61 Norway and MNOK 95 Dental Direkt - 3D Den
Slide 37: Overview of Acquisitions 2020
OVERVIEW OF ACQUISITIONS 2020 Sales at Total sales Year Company Description Type Country acquisition MSEK Rönvig Dental Manufacturing Dental Dental Denmark MDKK 30 Workplace Safety Dental Dental Denmark MDKK 79 Dental Grupa Distributor of dental products Dental Croatia MSEK 94 Cramaro Tarpaulin Syst
Slide 38: Overview of Acquisitions 2021
OVERVIEW OF ACQUISITIONS 2021 Sales at Total sales Year Company Description Type Country acquisition MSEK Kaniedenta1 Manufacturing and sales of dental consumables Dental Germany MEUR 29 Rissmann Dental1 Prosthetics Dental Germany MEUR 4.1 T.Freemantle Manufacturer of cartooning and sleeving machine
Slide 39: Overview of Acquisitions 2022
OVERVIEW OF ACQUISITIONS 2022 Sales at Total sales Year Company Description Type Country acquisition MSEK Develops and manufactures staff attack and nurse call Specialists Alarm Services Dental UK MGBP 3.9 systems BCC Solutions Supplier of fiber equipment Systems Solutions Finland MEUR 11 Trevi Benn
Slide 40: Overview of Acquisitions 2023
OVERVIEW OF ACQUISITIONS 2023 Sales at Total sales Year Company Description Type Country acquisition MSEK Real Spirit of Coffee Supplier of high-end coffee machines and consumables Systems Solutions UK MGBP 24 Broughton Plant Hire and Sales Provider of plant hire solutions for the construction indus
Slide 41: Overview of Acquisitions 2024
OVERVIEW OF ACQUISITIONS 2024 Sales at Total sales Year Company Description Type Country acquisition MSEK Manufactures electric drive systems for industrial CFR Transportation Products Italy MEUR 38.5 applications Manufactures high-end professional tile cutting tools and Brevetti Montolit Demolition
Slide 42: Overview of Acquisitions 2025
OVERVIEW OF ACQUISITIONS 2025 Sales at Total sales Year Company Description Type Country acquisition MSEK Arnold Deppeler Manufacturer of dental instruments Dental Switzerland MCHF 3.3 Fraga Dental Supplies consumables to dentists Dental Germany MEUR 2.5 Heavy Duty Parts Specialist supplier of parts
Slide 43: Overview of Acquisitions 2026
OVERVIEW OF ACQUISITIONS 2026 Sales at Total sales Year Company Description Type Country acquisition MSEK Sells regenerative bone graft material used in dentistry and Ethoss Regeneration Dental UK MGBP 5.4 oral surgery globally Designs and manufactures expanded metal mesh for Metalltech Systems Solu
Slide 44: Number of Acquisitions 2006–2026
NUMBER OF ACQUISITIONS 2006–2026 Segment split Country Countrysplit split2006-2021 2006–2026 Country split 2017–2026 AT CZ EE HK HR NZ SM AT CZ FI FR HK HR NZ SM Systems CH Solutions FR US CH 111111 21 SE US 111111 DE FI 42 30 211 22 47 NL 4 DK 3 Dental 10 7 61 5 DK 11 NL 10 28 30 DE 22 UK NO 15 10
Slide 45: Highlights
HIGHLIGHTS Strong track • 12.8% annual sales growth rate 2006−2026 LTM record • 17.1% annual EBITA growth rate 2006−2026 LTM Focus on • Good profitability is a prerequisite for sustainable growth profitability Strong market • Strong market positions in the Nordic markets in the Dental segment (top 2
Slide 46: A Safe Haven for Your Business
LIKFCO A SAFE HAVEN FOR YOUR BUSINESS