Lindab Group's Interim Report January–March 2026: Improved operating margin in Ventilation Systems, but challenging quarter for Profile Systems

About this update from Lindab International Ab

Q1 2026 Interim report January-March 2026 Q1 2026 Improved operating margin in Ventilation Systems, but challenging quarter for Profile Systems Ventilation Systems showed stable sales in the first quarter of the year, and the operating margin improved thanks to efficiency measures. The Group's operating profit was impacted by a challenging quarter in Profile Systems, due to a subdued project market and harsh winter conditions. Key performance indicators 2026 Jan-Mar 2025 Jan-Mar Change, % R12 2025 Apr- 2026 Mar 2025 Jan-Dec Net sales, SEK m 3,003 3,214 -7 12,643 12,854 Adjusted 1) operating profit, SEK m 188 228 -18 987 1,027 Operating profit, SEK m 188 228 -18 1,057 1,097 Adjusted 1) operating margin, % 6.3 7.1 - 7.8 8.0 Operating margin, % 6.3 7.1 - 8.4 8.5 Cash flow from operating activities, SEK m 45 160 -72 1,232 1,347 No one-off items or restructuring costs were reported during the quarter January-March 2026, in line with the corresponding period of the previous year. See page 21 for reconciliation. First quarter 2026 Net sales amounted to SEK 3,003 m (3,214), a decrease by 7 percent. Organic sales growth was -3 percent while the net effect of acquisitions and divestments was neutral. Currency effects amounted to -4 percent. Operating profit amounted to SEK 188 m (228). No one-off items and restructuring costs were reported during the quarter. Operating margin for the Group amounted to 6.3 percent (7.1) for the first quarter. Operating margin for Ventilation Systems improved to 9.2 percent (9.0), while Profile Systems reported an operating margin of -5.2 percent (1.1). Profit for the period amounted to SEK 108 m (145). Earnings per share before and after dilution amounted to SEK 1.41 (1.89). Cash flow from operating activities amounted to SEK 45 m (160). 2 LINDAB INTERNATIONAL AB (PUBL) | CORPORATE IDENTIFICATION NUMBER 556606-5446 | LINDABGROUP.COM | PUBLISHED 6 MAY 2026 Q1 2026 A word from the CEO During the first quarter, Ventilation Systems reported stable sales and improved operating margin compared to the previous year. The smaller business area Profile Systems weighed on the Group's result, primarily due to a weak project market. Organic growth for Ventilation Systems in the Nordics Sales for Ventilation Systems were stable despite continued challenging market conditions in many markets. The operating margin for the business area increased in the quarter to 9.2 percent from 9.0 percent, thanks to efficiency measures. On a positive note, the recovery in the Nordics continued where ventilation sales showed organic growth in the quarter thanks to proactive project sales. Also, in important countries like Italy and the UK, sales and results were strong, while the markets in Germany and the Netherlands remained weak. Challenging quarter for Profile Systems Profile Systems delivers roof and wall solutions, leading to large seasonal variations. A harsh winter in the Nordics impacted sales negatively during the first two months of the year. We also see a weak project market and profitability under pressure in the only remaining Profile Systems operation in Eastern Europe, located in Romania. As previously communicated, the company is planned to be divested, and our assessment is that it will happen during the second quarter. This completes the business area's exit from Eastern Europe. Given the structural measures implemented and a stabilisation of volumes, our assessment is that Profile Systems has the conditions in place to gradually improve profitability towards the Group's financial targets. Furthermore, the sandwich panel business continued to be affected by the impacts of the relocation carried out during the previous winter. Production and sales have not yet returned to the same levels as prior to the relocation. The low sales volume for the business area led to a negative result for the quarter. A potential turning point could be seen in March, with some sales growth and improved profitability. Given the structural measures implemented and a stabilisation of volumes, our assessment is that Profile Systems has the conditions in place to gradually improve profitability towards the Group's financial targets. The business has now been focused on the Scandinavian markets, where the organisation is being reviewed to increase business focus and ensure clear accountability for results. Further structural measures are continuously evaluated. Our stated objective is to fully compensate for these higher costs through price adjustments. Price adjustments to compensate higher raw material prices Lindab Group does not have any operations in the Middle East, however the conflict around the Persian Gulf affects us through higher raw material prices and increased transport costs. Our stated objective is to fully compensate for these higher costs through price adjustments. Over the coming year, we anticipate the European ventilation market to grow slightly, from low levels. For Profile Systems, our assessment is a stabilisation in the market during 2026. To conclude, Lindab Group has strong prospects of benefitting from a growing demand for energy-efficient ventilation, contributing to sustainable buildings and a healthy indoor climate. With a strong product portfolio, well-invested production facilities and a highly competent sales force we stand well positioned to meet increased demand in turbulent times. Grevie, 6 May 2026 Ola Ringdahl President and CEO LINDAB INTERNATIONAL AB (PUBL) | CORPORATE IDENTIFICATION NUMBER 556606-5446 | LINDABGROUP.COM | PUBLISHED 6 MAY 2026 3 Q1 2026 Sales and profit Key performance indicators 2026 Jan-Mar 2025 Jan-Mar Change, % R12M 2025 Apr- 2026 Mar 2025 Jan-Dec Net sales, SEK m 3,003 3,214 -7 12,643 12,854 Adjusted 1) operating profit, SEK m 188 228 -18 987 1,027 Operating profit, SEK m 188 228 -18 1,057 1,097 Adjusted 1) operating margin, % 6.3 7.1 - 7.8 8.0 Operating margin, % 6.3 7.1 - 8.4 8.5 Profit for the period, SEK m 108 145 -25 723 760 Earnings per share before and after dilution, SEK 1.41 1.89 -25 9.38 9.86 Cash flow from operating activities, SEK m 45 160 -72 1,232 1,347 Number of employees at the end of the period 4,979 5,046 -1 4,979 4,958 1) No one-off items and restructuring costs were reported during the quarter January-March 2026, in line with the corresponding period previous year. See page 21 for reconciliation. Sales and market Net sales for the Group amounted to SEK 3,003 m (3,214) during the quarter, a decline of 7 percent compared with the corresponding quarter previous year. Sales growth in comparable units amounted to -3 percent, while currency effects had a negative impact of -4 percent. The net effect from acquisitions and divestments was neutral. The year started softly, primarily due to cold weather conditions in January and February, which negatively affected construction activity in several of the Group's markets. These weather-related conditions led to project delays, limited activity at construction sites and temporarily lower demand at the beginning of the period. During the latter part of the quarter, activity levels gradually improved. However, this improvement was not sufficient to fully offset the weak start to the year. During the quarter, Lindab Group continued to implement efficiency measures, including initiatives within procurement and the simplification of the legal structure. In the US, four legal entities within Vicon were merged into a single entity, with the aim of reducing complexity and strengthening operational efficiency. Profit Operating profit for the quarter amounted to SEK 188 m (228), corresponding to an operating margin of 6.3 percent (7.1). The decline compared with the previous year is mainly explained by lower volumes during the first two months of the quarter. Efficiency measures implemented mitigated the impact on earnings, but were not sufficient to fully compensate for the volume decline. Profit for the quarter amounted to SEK 108 m (145). Earnings per share before and after dilution amounted to SEK 1.41 (1.89). Net sales, SEK m Quarter R12M Breakdown of net sales, R12M Adjusted operating profit, SEK m Quarter R12M 4,000 3,000 2,000 1,000 15,000 12,000 9,000 6,000 3,000 4% 44% 11% 41% 500 400 300 200 100 1,500 1,250 1,000 750 500 250 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 0 Nordic region 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 0 2024 2025 2026 Western Europe Central Europe 2024 2025 2026 Quarter R12M Other markets Quarter R12M 4 LINDAB INTERNATIONAL AB (PUBL) | CORPORATE IDENTIFICATION NUMBER 556606-5446 | LINDABGROUP.COM | PUBLISHED 6 MAY 2026 Segment - Ventilation Systems 2026 2025 Change, R12M 2025 Apr- 2025 Key performance indicators Jan-Mar Jan-Mar % 2026 Mar Jan-Dec Net sales, SEK m 2,506 2,600 -4 10,111 10,205 Net sales growth, % -4 4 - -2 0 - of which organic, % -1 -3 - -1 -2 - of which acquisitions/divestments, % 2 7 - 3 5 - of which currency effects, % -5 0 - -4 -3 Adjusted 1) operating profit, SEK m 230 234 -2 965 969 Adjusted 1) operating margin, % 9.2 9.0 - 9.5 9.5 Number of employees at the end of the period 4,213 4,189 1 4,213 4,198 Q1 2026 1) No one-off items and restructuring costs were reported in the Ventilation Systems segment during the quarter January-March 2026, in line with the corresponding period previous year. See page 21 for reconciliation. Sales and market Net sales in Ventilation Systems amounted to SEK 2,506 m (2,600) in the first quarter, a decrease of 4 percent compared with the corresponding quarter previous year. Sales growth for comparable units amounted to -1 percent and currency effects had an impact of -5 percent. The net effect from acquisitions and divestments contributed positively by 2 percent. Sales development in Ventilation Systems was slightly weaker than in the corresponding quarter previous year, mainly due to continued subdued construction activity in several European markets. Operations were negatively affected by cold weather during the quarter, including in countries that usually experience milder winters, resulting in lower construction activity and project delays. The Nordic markets performed well and reported positive organic sales growth during the quarter, with contributions mainly from Sweden, Denmark and Finland. Development in Western Europe remained weak, with markets such as Germany and the Netherlands reporting negative organic growth due to low demand in new construction. At the same time, positive organic growth was recorded in countries such as the UK and Italy. Developments in Central Europe were mixed. Several markets showed improved trends towards the end of the quarter, although total organic sales remained below the level of the previous year. Profit Operating profit for Ventilation Systems amounted to SEK 230 m (234), corresponding to an operating margin of 9.2 percent (9.0). The stable margin development is primarily explained by an improved gross margin, continued effects from efficiency measures and a gradual recovery in the Swedish market. Acquisitions completed at the end of 2024 and during 2025 have been well integrated into the operations and develop according to plan. Overall, this has contributed positively to the earnings and margin development of Ventilation Systems during the period. Net sales, SEK m Quarter R12M Breakdown of net sales, R12M Adjusted operating profit, SEK m Quarter R12M 3,000 2,000 1,000 12,000 9,000 6,000 3,000 4% 54% 11% 31% 300 250 200 150 100 50 1,200 1,000 800 600 400 200 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 0 2024 2025 2026 Quarter R 12M Nordic region Western Europe Central Europe Other markets 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 0 2024 2025 2026 Quarter R 12M LINDAB INTERNATIONAL AB (PUBL) | CORPORATE IDENTIFICATION NUMBER 556606-5446 | LINDABGROUP.COM | PUBLISHED 6 MAY 2026 5 Segment - Profile Systems 2026 2025 Change, R12M 2025 Apr- 2025 Key performance indicators Jan-Mar Jan-Mar % 2026 Mar Jan-Dec Net sales, SEK m 497 614 -19 2,532 2,649 Net sales growth, % -19 -4 - -18 -15 - of which organic, % -10 -4 - -12 -11 - of which acquisitions/divestments, % -7 0 - -4 -2 - of which currency effects, % -2 0 - -2 -2 Adjusted 1) operating profit, SEK m -26 7 -471 75 108 Adjusted 1) operating margin, % -5.2 1.1 - 3.0 4.1 Number of employees at the end of the period 680 785 -13 680 670 Q1 2026 1) No one-off items and restructuring costs were reported in the Profile Systems segment during the period January-March 2026, in line with the corresponding period previous year. See page 21 for reconciliation. Sales and market Net sales in Profile Systems amounted to SEK 497 m (614) in the first quarter, corresponding to a decrease of 19 percent. Organic growth was -10 percent, currency effects amounted to -2 percent and the effect from divestments was -7 percent. Profile Systems was negatively affected by cold weather during the first two months of the quarter, which dampened construction activity, particularly in the core markets of Denmark, Norway and Sweden. The weather-related conditions resulted in reduced volumes and project delays during the period. Overall, the quarter was characterised by low construction activity and weak volumes in several markets. Towards the end of the quarter, activity levels increased, contributing to positive organic growth in March. Profit Operating profit for Profile Systems amounted to SEK -26 m (7). Earnings were significantly impacted by continued low volumes, particularly in Scandinavia, where construction activity was weak at the beginning of the quarter. The combination of weather-related delays and lower sales volumes had a negative impact on capacity utilisation and, consequently, operating profit during the period. In a continued uncertain market environment, Lindab Group has prioritised maintaining gross margin levels. This is considered crucial to safeguarding long-term profitability, despite a short-term negative impact on volumes and earnings. Operating profit was also impacted by weak profitability in the remaining profile operations in Romania. The divestment of the operations has been slightly delayed due to extended processing times with the relevant authority and is expected to be completed during the second quarter. Furthermore, operating profit was affected by the previously communicated relocation of sandwich panel production from Luleå to Piteå. Production and sales have not yet reached the same levels as prior to the relocation. Net sales, SEK m Quarter R12M Breakdown of net sales, R12M Adjusted operating profit, SEK m Quarter R12M 1,200 900 4,000 3,000 10% 0% 100 75 300 225 600 2,000 84% 50 150 300 1,000 25 75 6% 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2024 2025 2026 Quarter R 12M Nordic region Western Europe Central Europe Other markets 0 -25 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2024 2025 Q1 Quarter R 12M 2026 6 LINDAB INTERNATIONAL AB (PUBL) | CORPORATE IDENTIFICATION NUMBER 556606-5446 | LINDABGROUP.COM | PUBLISHED 6 MAY 2026 Q1 2026 Cash flow, financial position and business combinations SEK m 2026 Jan-Mar 2025 Jan-Mar R12 2025 Apr- 2026 Mar 2025 Jan-Dec Operating profit 188 228 1,057 1,097 Adjusted operating profit 188 228 987 1,027 Cash flow from operating activities 45 160 1,232 1,347 Cash flow from investing activities -66 -107 -467 -508 - Of which related to acquisition (-) /divestment (+) of Group companies - -24 -159 -183 Cash flow from financing activities 0 -48 -825 -873 Cash flow for the period -21 5 -60 -34 Adjusted free cash flow -21 77 924 1,022 Cash conversion, % -11 34 94 100 Net debt 4,410 4,366 4,410 4,262 Net debt/EBITDA, times 2.6 2.6 2.6 2.6 Financial net debt/EBITDA excluding IFRS 16, times 2.2 2.1 2.2 2.1 Cash flow Cash flow from operating activities amounted to SEK 45 m (160) in the first quarter. Cash flow before changes in working capital amounted to SEK 227 m (236), slightly lower than in the previous year. The change in cash flow from operating activities compared with the previous year was mainly attributable to a more negative impact from changes in working capital of SEK 182 m (-76). This was primarily due to higher accounts receivable and an increase in inventories, which was partly offset by higher accounts payable. The outcome is in line with the Group's normal seasonal pattern, where the first quarter has historically been weak in terms of cash flow as a result of working capital build-up. The effect was further reinforced by lower sales during January and February, partly due to unusually cold winter weather. The negative impact from working capital was partly offset by lower net payments related to interest and income taxes amounting to SEK -110 m (-152), which contributed positively to cash flow compared with the previous year. Cash flow from investing activities, excluding acquisitions and divestments of subsidiaries, amounted to SEK -66 m (-83). No acquisitions or divestments with a cash flow impact were carried out during the period January-March 2026 (-24). Cash flow from financing activities amounted to SEK 0 m (-48) and included repayments of lease liabilities, which were offset by increased borrowings and utilization of credit facilities during the period. Adjusted free cash flow amounted to SEK -21 m (77) for the quarter, primarily explained by a lower operating profit and increased capital tied up during the period. Cash conversion amounted to -11 percent (34). Cash flow from operating activities, SEK m Quarter R 12M Net debt, R12M SEK m times 800 600 400 200 2,000 1,500 1,000 500 5,000 4,000 3,000 2,000 1,000 3,0 2,5 2,0 1,5 1,0 0,5 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 0 2024 2025 2026 Quarter R 12M 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 0,0 2024 2025 2026 Quarter Net debt/EBITDA Financial net debt/EBITDA LINDAB INTERNATIONAL AB (PUBL) | CORPORATE IDENTIFICATION NUMBER 556606-5446 | LINDABGROUP.COM | PUBLISHED 6 MAY 2026 7 Q1 2026 Net debt and financing Net debt amounted to SEK 4,410 m (4,366) as of 31 March, of which SEK 1,474 m (1,559) related to lease liabilities. The equity/assets ratio was 50 percent (47), and the net debt/equity ratio was 0.6 (0.6). Net financial items for the quarter amounted to SEK -50 m (-43). Decreased market interest rates has resulted in lower interest rates in the quarter. Net financial items in the same period previous year was however affected by a positive currency rate effect related to contingent consideration from the acquisition of Airmaster. The existing credit agreement of SEK 4,050 m and EUR 120 m with Nordea, DNB Bank, Svenska Handelsbanken and Danske Bank is valid until the second quarter of 2028. An extension option allows for a one-year prolongation of maturity. The agreement is subject to a covenant which is monitored quarterly. Lindab Group met the covenant requirements as of 31 March 2026. In addition, the credit facility is linked to three sustainability targets, whereby the interest margin is adjusted based on the level of target achievement. The targets are as follows: Safer working environment: Improvement of workplace safety through a reduction in LTIF (Lost Time Injury Frequency). Reduced scope 1 and 2 emissions: A continuous reduction of the Group's direct and indirect greenhouse gas emissions attributable to its operations. Reduced emissions from purchased steel (part of scope 3): A reduction of emissions related to purchased steel used in Lindab Group's products. All sustainability targets were met as of the end of 2025, resulting in a reduction of the interest margin during the first quarter of 2026. Business combinations No acquisitions or divestments were completed during the first quarter. In December 2025, Lindab Group entered into an agreement to divest its operations in Romania. The transaction was expected to be completed during the first quarter of 2026 but has been delayed due to extended processing times with the relevant authority. The divestment is now expected to be completed before the end of the second quarter of 2026. For further information on acquisitions and divestments, see Note 3. Financial targets Lindab Group has the following financial targets for growth, profitability and net debt: Annual growth, >10% 1) Adjusted operating margin, >10% Net debt/EBITDA, <3.0 3) 24.3 2) 1.4 1.7 -0,9 -2,0 1.9 1.6 2.5 2.6 2.6 10.9 7.8 8.0 7.8 9.0 2022 2023 2024 2025 Q1 2026 R12M 2022 2023 2024 2025 Q1 2026 R12M 2022 2023 2024 2025 Q1 2026 R12M Growth excluding currency effects. The outcome for annual growth including divested business was 13.0 percent in 2022. Net debt/EBITDA is calculated including IFRS 16 and adjusted for one-off items and restructuring costs. Financial net debt/EBITDA excluding IFRS 16 amounted to 2.2 i Q1 2026 R12M, 2.1 in 2025, 2.0 in 2024, 1.4 in 2023 and 1.0 in 2022. For complete definition, see Annual Report for 2025. 8 LINDAB INTERNATIONAL AB (PUBL) | CORPORATE IDENTIFICATION NUMBER 556606-5446 | LINDABGROUP.COM | PUBLISHED 6 MAY 2026 Q1 2026 Lindab Group's sustainability work 2025 In 2025, Lindab Group continued to advance its sustainability efforts while supporting customers and society in line with the direction "For a better climate". The Group prioritised new initiatives to reduce resource consumption and increase material efficiency across its operations. At the same time, the share of renewable electricity increased through new solar power installations in several European countries. Significant progress was made in reducing emissions: Scope 1-2 emissions have now been lowered by 52 percent compared with the 2022 baseline, and Scope 3 emissions decreased by 21 percent 1) . Lindab Group's climate targets are validated and approved by the Science Based Targets initiative (SBTi). Sustainability is an integrated part of Lindab Group's strategy and business development. Through innovation, responsibility, and a long term approach, the Group develops solutions that contribute to making buildings energy efficient, healthy and smart. Lindab Group supports customers' climate transition through efficient ventilation systems and digital tools that provide transparent environmental data. Responsible sourcing and ethical business practices were maintained throughout the year, alongside a continued focus on workplace safety and operational reliability as key parts of the Group's strategy. Overall, the Group made steady progress toward its long-term environmental and social objectives. Outcome in 2025 Target Comments Tonnes CO 2 e 25,000 20,000 15,000 10,000 9,918 5,000 0 2022 2023 2024 2025 - 56% Lower CO 2 e emissions - own activities Lindab Group's CO 2 e emissions have decreased by 52 percent, from 20,856 tonnes in 2022 to 9,918 tonnes in 2025 1) . The positive trend is partly a result of the commissioning of solar panel installations at Lindab Group's operations in the Czech Republic, Italy and Ireland in 2025. Several Group companies have also switched to renewable electricity, which has a significant impact on scope 2 2) emissions. Tonnes CO 2 e 1,000,000 800,000 747,032 600,000 400,000 200,000 0 2022 2023 2024 2025 - 25% Lower CO 2 e emissions - the value chain Scope 3 1) CO 2 e emissions from the value chain decreased by 21 percent, from 942,688 tonnes in 2022 to 747,032 tonnes in 2025. This change is mainly the result of lower production volumes and reduced use of refrigerants in sold products. % 100 91 80 60 40 20 0 2021 2022 2023 2024 2025 90% Motivated employees Lindab Group shall be an employer that can both attract new talent and retain the right competencies. For 2025, 91 percent of employees recommended Lindab Group as an employer, marking the achievement of the target level for the sixth year in a row. LTIF 15 12 9 6 3 2.6 O 2O21 2O22 2O23 2O24 2O25 < 4.0 Fewer work-related injuries In 2025, the LTIF (number of workplace accidents per million hours worked) decreased to 2.6, compared with 3.6 the year before. The actions taken have had a positive impact, helping to reduce risky behaviours and create a safer working environment. The development is monitored closely to ensure continued improvement. % 100 95 80 60 40 20 0 2021 2022 2023 2024 2025 100% Supplier assessment Work on assessing suppliers has moved forward, especially in high-risk countries 3) . Despite this, the target of 100 percent of suppliers being evaluated and approved has not yet been achieved. This is mainly due to newly acquired companies needing more time to implement Group-wide processes. Scope 1: Direct emissions that occur within the company's own operations. Scope 2: Indirect emissions from the generation of purchased electricity, steam, heating, and cooling consumed by the company. Scope 3: Emissions from the value chain from purchased goods and services, upstream transportation, waste generated in operations and the use of sold products. Market-based method. Suppliers in low and medium risk countries with an annual spend of at least 100 KEUR and in high risk countries with an annual spend of at least 25 EURK, are included. Suppliers added through acquisitions will be certified during their first year as part of the Group. LINDAB INTERNATIONAL AB (PUBL) | CORPORATE IDENTIFICATION NUMBER 556606-5446 | LINDABGROUP.COM | PUBLISHED 6 MAY 2026 9 Q1 2026 Other Parent Company Lindab International AB (publ), corporate identification number 556606-5446, is a registered limited liability company with its domicile in Båstad, Sweden. The Lindab share is listed on Nasdaq Stockholm, Large Cap. Net sales for the quarter amounted to SEK 2 m (2). Profit for the quarter amounted to SEK -1 m (-3). Significant risks and uncertainties There have been no significant changes in relation to what was stated by Lindab Group in its Annual Report for 2025 under Risks and Risk Management (pages 58-59). Employees The number of employees, calculated as full-time equivalent employees, was 4,979 (5,046) at the end of the quarter. Adjusted for acquisitions and divestments, the net decrease was 21 employees compared to the same quarter previous year. Seasonal variations Lindab Group's business is affected by seasonal variations in the construction industry, and the highest proportion of net sales is normally seen during the second half of the year. The largest seasonal variations can be found in the segment Profile Systems. Ventilation products are mainly installed indoors which is why the Ventilation Systems segment is less dependent on season or weather conditions. Annual General Meeting The Board of Directors has decided that the Annual General Meeting will be held on May 12, 2026. Notice to the meeting has been given via press release and has been published at lindabgroup.com. Dividend Lindab´s Board of Directors proposes that the Annual General Meeting on May 12, 2026, resolves a dividend of SEK 5.60 per share. This is in accordance with the dividend policy of minimum 40 percent of Lindab's profit, considering the Groups' financial position, acquisition opportunities and long-term financial needs. The proposed dividend corresponds to SEK 431 m. The total value of actually paid dividend might be different if the number of treasury shares is amended before resolved record dates. Dividend is proposed to be distributed on two occasions with SEK 2.80 per share and occasion. As record dates for right to dividend, May 15, 2026, and November 3, 2026, are proposed. Dividend is expected to be distributed to shareholders on May 20, 2026, and November 6, 2026. Significant events during the reporting period No significant events have occurred during the reporting period. Significant events after the reporting period No significant events have occurred after the reporting period. General information Unless other indicated in this interim report, all statements refer to the Group. Figures in parentheses indicate the result of the same period previous year. Unless other stated, amounts are in SEK m. Rounding differences may occur in tables as each individual line item is rounded separately based on the available underlying data. As a result, totals may differ slightly from the sum of the reported line items. This interim report has not been reviewed by the Company's auditors. This is a translation of the Swedish original report. In case of differences between the English translation and the Swedish original, the Swedish text shall prevail. 10 LINDAB INTERNATIONAL AB (PUBL) | CORPORATE IDENTIFICATION NUMBER 556606-5446 | LINDABGROUP.COM | PUBLISHED 6 MAY 2026 Q1 2026 Net sales and segments Net sales and growth SEK m 2026 Jan-Mar 2025 Jan-Mar 2025 Jan-Dec Net sales 3,003 3,214 12,854 Change 211 67 -469 Change, % -7 2 -4 Of which - Organic, % -3 -3 -4 - Acquisitions/divestments, % 0 5 3 - Currency effects, % -4 0 -3 Net sales per segment and region SEK m 2026 Jan-Mar % 2025 Jan-Mar % 2025 Jan-Dec % Ventilation Systems 2,506 83 2,600 81 10,205 79 - Nordic Region 799 32 778 30 3,066 30 - Western Europe 1,335 53 1,472 57 5,618 55 - Central Europe 278 11 233 9 1,050 10 - Other markets 94 4 117 4 471 5 Profile Systems 497 17 614 19 2,649 21 - Nordic Region 446 90 485 79 2,174 82 - Western Europe 26 5 37 6 151 6 - Central Europe 23 5 88 14 312 12 - Other markets 2 0 4 1 12 0 Total 3,003 100 3,214 100 12,854 100 - Nordic Region 1,245 42 1,263 39 5,240 41 - Western Europe 1,361 45 1,509 47 5,769 45 - Central Europe 301 10 321 10 1,362 10 - Other markets 96 3 121 4 483 4 Segment reporting Ventilation Systems Profile Systems Other operations and eliminations Total SEK m 2026 Jan-Mar 2025 Jan-Mar 2026 Jan-Mar 2025 Jan-Mar 2026 Jan-Mar 2025 Jan-Mar 2026 Jan-Mar 2025 Jan-Mar Net sales, external 2,506 2,600 497 614 - - 3,003 3,214 Net sales, internal between segments 1 1 7 8 -8 -9 - - Net sales, total 2,507 2,601 504 622 -8 -9 3,003 3,214 Operating profit 230 234 -26 7 -16 -13 188 228 One-off items and restructuring cost - - - - - - - - Adjusted operating profit 230 234 -26 7 -16 -13 188 228 Net financial items -50 -43 Profit before tax 138 185 Tax on profit for the period -29 -40 Profit for the period 108 145 One-off items and restructuring costs included in adjusted operating profit are described in 'Reconciliations' page 21. Number of employees by end of period Mar 31, 2026 % Mar 31, 2025 % Dec 31, 2025 % Ventilation Systems 4,213 84 4,189 83 4,198 85 Profile Systems 680 14 785 16 670 13 Other operations 86 2 72 1 90 2 Total 4,979 100 5,046 100 4,958 100 LINDAB INTERNATIONAL AB (PUBL) | CORPORATE IDENTIFICATION NUMBER 556606-5446 | LINDABGROUP.COM | PUBLISHED 6 MAY 2026 11 Q1 2026 Condensed consolidated statement of profit or loss SEK m 2026 Jan-Mar 2025 Jan-Mar R12 2025 Apr- 2026 Mar 2025 Jan-Dec Net sales 3,003 3,214 12,643 12,854 Cost of goods sold -2,140 -2,312 -9,038 -9,210 Gross profit 863 902 3,605 3,644 Other operating income 22 25 392 395 Selling expenses -423 -420 -1,690 -1,687 Administrative expenses -238 -236 -888 -886 Research and development expenses -23 -24 -88 -89 Other operating expenses -13 -19 -274 -280 Total operating expense -675 -674 -2,548 -2,547 Operating profit 1) 188 228 1,057 1,097 Interest income 1 2 12 13 Interest expenses -50 -60 -219 -229 Other financial income and expenses -2 15 -10 7 Financial items -50 -43 -216 -209 Profit before tax 138 185 841 888 Tax on profit for the period -29 40 -117 -128 Profit for the period 108 145 723 760 - attributable to the Parent Company's shareholders 108 145 723 760 Earnings per share, before dilution, SEK 2) 1.41 1.89 9.38 9.86 Earnings per share, after dilution, SEK 2) 1.41 1.89 9.38 9.86 1) For one-off items and restructuring costs recognized within operating profit, see page 21 for reconciliation. 2) Based on the number of outstanding shares, i.e. excluding treasury shares. Condensed consolidated statement of comprehensive income SEK m 2026 Jan-Mar 2025 Jan-Mar R12 2025 Apr- 2026 Mar 2025 Jan-Dec Profit for the period 108 145 723 760 Items that will not be reclassified to the statement of profit or loss Actuarial gains/losses, defined benefit plans -4 31 19 54 Deferred tax attributable to defined benefit plans 1 -6 -4 -11 Total -3 25 15 43 Items that will later be reclassified to the statement of profit or loss Translation differences, foreign operations 92 -408 -17 -517 Hedges of net investments -19 89 -2 106 Tax attributable to hedges of net investments 4 -18 0 -22 Total 77 -337 -19 -433 Other comprehensive income, net of tax 74 -312 -4 -390 Total comprehensive income attributable to the Parent Company's shareholders 182 -167 719 370 12 LINDAB INTERNATIONAL AB (PUBL) | CORPORATE IDENTIFICATION NUMBER 556606-5446 | LINDABGROUP.COM | PUBLISHED 6 MAY 2026 Q1 2026 Condensed consolidated statement of financial position SEK m Mar 31, 2026 Mar 31, 2025 Dec 31, 2025 ASSETS Non-current assets Goodwill 5,781 5,550 5,721 Other intangible assets 556 565 539 Tangible fixed assets 1,914 1,966 1,916 Right-of-use assets 1,393 1,487 1,398 Financial interest-bearing fixed assets 21 22 21 Other financial fixed assets 13 5 13 Deferred tax assets 148 131 149 Total non-current assets 9,826 9,726 9,757 Current assets Inventory 2,242 2,219 2,111 Accounts receivable 2,122 2,077 1,813 Other current assets 421 485 382 Other interest-bearing receivables - 39 16 Cash and cash equivalents 427 480 442 Assets held for sale 1) 99 187 108 Total current assets 5,311 5,487 4,872 TOTAL ASSETS 15,137 15,213 14,629 SHAREHOLDERS' EQUITY AND LIABILITIES Shareholders' equity attributable to Parent Company shareholders 7,501 7,193 7,319 Total shareholders' equity 7,501 7,193 7,319 Non-current liabilities Provisions for pensions and similar obligations 271 275 265 Liabilities to credit institutions 3,088 3,058 2,971 Lease liabilities 1,080 1,194 1,099 Deferred tax liabilities 192 202 194 Provisions 12 13 13 Other non-current liabilities 69 339 74 Total non-current liabilities 4,711 5,081 4,616 Current liabilities Other interest-bearing liabilities 24 15 29 Lease liabilities 394 365 377 Provisions 224 137 235 Accounts payable 1,040 1,177 889 Other current liabilities 1,206 1,173 1,110 Liabilities held for sale 1) 37 72 54 Total current liabilities 2,925 2,939 2,694 TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES 15,137 15,213 14,629 1) For assets and liabilities related to discontinued operations, see Note 4. LINDAB INTERNATIONAL AB (PUBL) | CORPORATE IDENTIFICATION NUMBER 556606-5446 | LINDABGROUP.COM | PUBLISHED 6 MAY 2026 13 Q1 2026 Shareholders' equity attributable to Parent Company shareholders SEK m Share capital Other contributed capital Foreign currency translation reserve Profit brought forward incl. profit for the year Total share-holders' equity Opening balance, January 1, 2025 79 2,272 767 4,242 7,360 Profit for the period 145 145 Other comprehensive income, net of tax Actuarial gains/losses, defined benefit plans 25 25 Translation differences, foreign operations -408 -408 Hedges of net investments 71 71 Total comprehensive income - - -337 170 -167 Closing balance, March 31, 2025 79 2,272 430 4,412 7,193 Profit for the period 615 615 Other comprehensive income, net of tax Actuarial gains/losses, defined benefit plans 18 18 Translation differences, foreign operations -109 -109 Hedges of net investments 13 13 Total comprehensive income - - -96 633 537 Issuance/exercise of share options 5 5 Dividends to shareholders -416 -416 Transactions with shareholders - - - -411 -411 Closing balance, December 31, 2025 79 2,272 334 4,634 7,319 Opening balance, January 1, 2026 79 2,272 334 4,634 7,319 Profit for the period 108 108 Other comprehensive income, net of tax Actuarial gains/losses, defined benefit plans -3 -3 Translation differences, foreign operations 92 92 Hedges of net investments -15 -15 Total comprehensive income - - 77 105 182 Closing balance, March 31, 2026 79 2,272 411 4,739 7,501 Condensed consolidated statement of changes in equity Share capital As of 31 March 2026, share capital amounted to SEK 78,842,820 (78,842,820), divided into 78,842,820 shares (78,842,820) with a nominal value of SEK 1.00 per share. At the same date, Lindab International AB (publ) held 1,806,888 treasury shares (1,806,888), corresponding to 2.3 percent (2.3) of the total number of shares. Accordingly, the number of outstanding shares as of 31 March 2026 amounted to 77,035,932 (77,035,932). Appropriation of profits The Board of Directors of Lindab proposes that the Annual General Meeting on 12 May 2026 resolves on a dividend of SEK 5.60 (5.40) per share, to be paid in two instalments, and that the remaining profits available for distribution are carried forward. 14 LINDAB INTERNATIONAL AB (PUBL) | CORPORATE IDENTIFICATION NUMBER 556606-5446 | LINDABGROUP.COM | PUBLISHED 6 MAY 2026 Q1 2026 Condensed consolidated statement of cash flows SEK m 2026 Jan-Mar 2025 Jan-Mar R12M 2025 Apr- 2026 Mar 2025 Jan-Dec OPERATING ACTIVITIES Operating profit 188 228 1,057 1,097 Reversal of depreciation/amortisation and impairment losses 167 174 747 754 Reversal of capital gains (-)/losses (+) reported in operating profit -1 -1 34 34 Provisions, not affecting cash flow -9 -10 94 93 Adjustment for other items not affecting cash flow -7 -3 -281 -277 Total 337 388 1,650 1,701 Interest received 1 2 12 13 Interest paid -50 -55 -215 -220 Tax paid -62 -99 -101 -138 Cash flow from operating activities before changes in working capital 227 236 1,347 1,356 Change in working capital Inventory (increase -/decrease +) -104 -80 15 39 Operating receivables (increase -/decrease +) -274 -229 17 62 Operating liabilities (increase +/decrease -) 196 233 -147 -110 Total change in working capital -182 -76 -115 -9 Cash flow from operating activities 45 160 1,232 1,347 INVESTING ACTIVITIES Acquisition of Group companies - -24 -227 -251 Divestment of Group companies - - 68 68 Investments in intangible assets -27 -29 -135 -137 Investments in tangible fixed assets -43 -57 -180 -194 Change in financial fixed assets 0 0 0 0 Disposal of intangible assets - - 0 0 Disposal of tangible fixed assets 4 3 7 6 Cash flow from investing activities -66 -107 -467 -508 FINANCING ACTIVITIES Proceeds from loans 96 51 45 - Repayment of loans - - -75 -75 Repayment of lease liabilities -96 -99 -384 -387 Issuance/exercise of share options - - 5 5 Dividends to shareholders - - -416 -416 Cash flow from financing activities 0 -48 -825 -873 Cash flow for the period -21 5 -60 -34 Cash and cash equivalents at beginning of the period 442 499 480 499 Effect of exchange rate differences on cash and cash equivalents 6 -24 7 -23 Cash and cash equivalents at end of the period 427 480 427 442 LINDAB INTERNATIONAL AB (PUBL) | CORPORATE IDENTIFICATION NUMBER 556606-5446 | LINDABGROUP.COM | PUBLISHED 6 MAY 2026 15 Q1 2026 Parent Company Condensed income statement SEK m 2026 Jan-Mar 2025 Jan-Mar 2025 Jan-Dec Net sales 2 2 6 Administrative expenses -3 -3 -13 Other operating income and expenses 0 - - Operating profit/loss -1 -1 -7 Profit from subsidiaries - - 744 Interest income, intra-Group 0 - 1 Interest expenses, intra-Group 0 -3 -6 Profit before tax -1 -4 732 Tax on profit for the period 0 1 -3 Profit or loss for the period 1) -1 -3 729 1) Comprehensive income corresponds to profit for all periods. Condensed balance sheet SEK m Mar 31, 2026 Mar 31, 2025 Dec 31, 2025 ASSETS Non-current assets Financial fixed assets Shares in Group companies 3,467 3,467 3,467 Financial interest-bearing fixed assets 4 4 4 Deferred tax assets 1 1 1 Total non-current assets 3,472 3,472 3,472 Current assets Receivables from Group companies 25 1 30 Current tax assets 9 9 6 Prepaid expenses and accrued income 1 1 0 Cash and cash equivalents 0 0 0 Total current assets 35 11 36 TOTAL ASSETS 3,507 3,483 3,508 SHAREHOLDERS' EQUITY AND LIABILITIES Shareholders' equity Restricted shareholders' equity Share capital 79 79 79 Statutory reserve 708 708 708 Unrestricted shareholders' equity Share premium reserve 90 90 90 Profit brought forward 2,623 2,304 1,894 Profit/loss for the period -1 -3 729 Total shareholders' equity 3,499 3,178 3,500 Provisions Interest-bearing provisions 4 4 4 Total provisions 4 4 4 Current liabilities Liabilities to Group companies 0 298 0 Accrued expenses and deferred income 4 3 4 Other liabilities 0 0 0 Total current liabilities 4 301 4 TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES 3,507 3,483 3,508 16 LINDAB INTERNATIONAL AB (PUBL) | CORPORATE IDENTIFICATION NUMBER 556606-5446 | LINDABGROUP.COM | PUBLISHED 6 MAY 2026 Q1 2026 Key performance indicators 2026 2025 2024 SEK m Jan-Mar Oct-Dec Jul-Sep Apr-Jun Jan-Mar Oct-Dec Jul-Sep Apr-Jun Jan-Mar Net sales 3,003 3,134 3,253 3,253 3,214 3,308 3,348 3,520 3,147 Growth, % -7 -5 -3 -8 2 1 3 5 -2 - of which organic -3 -3 -4 -6 -3 -5 -4 -3 -10 - of which acquisitions/divestments 0 2 3 2 5 6 9 8 7 - of which currency effects -4 -4 -2 -4 0 0 -2 0 1 Operating profit before depreciation/amortisation and impairment losses 355 267 738 444 402 367 443 507 387 Operating profit 188 97 491 281 228 -101 274 338 225 Adjusted operating profit 188 203 315 281 228 177 304 338 225 Profit before tax 138 47 435 221 185 -175 208 272 156 Profit for the period 108 41 400 174 145 -173 158 213 117 Operating margin, % 6.3 3.1 15.1 8.6 7.1 -3.1 8.2 9.6 7.1 Adjusted operating margin, % 6.3 6.5 9.7 8.6 7.1 5.4 9.1 9.6 7.1 Adjusted EBITA margin, % 6.6 6.8 10.0 9.0 7.4 5.6 9.3 9.8 7.4 Profit margin before tax, % 4.6 1.5 13.4 6.8 5.8 -5.3 6.2 7.7 5.0 Cash flow from operating activities 45 521 335 331 160 629 259 342 208 Cash flow from operating activities per share, SEK 0.58 6.76 4.35 4.30 2.08 8.17 3.36 4.45 2.71 Free cash flow -21 456 37 293 53 409 185 228 -985 Adjusted free cash flow -21 434 255 256 77 583 222 267 147 Cash flow, investments in intangible assets/ tangible fixed assets -70 -88 -81 -76 -86 -48 -41 -76 -64 Number of shares outstanding, thousands 77,036 77,036 77,036 77,036 77,036 77,036 77,036 76,852 76,852 Average number of shares outstanding R12M, thousands 77,036 77,036 77,036 77,036 76,990 76,944 76,898 76,848 76,795 Earnings per share, before dilution, SEK 1.41 0.52 5.19 2.26 1.89 -2.24 2.05 2.77 1.52 Earnings per share, after dilution, SEK 1.41 0.52 5.19 2.26 1.89 -2.24 2.05 2.77 1.52 Shareholders' equity attributable to Parent Company shareholders 7,501 7,319 7,383 7,018 7,193 7,360 7,445 7,286 7,566 Shareholders' equity per share, SEK 97.37 95.01 95.84 91.10 93.38 95.54 96.64 94.80 98.45 Net debt 4,410 4,262 4,411 4,456 4,366 4,510 4,385 4,517 4,477 Adjusted net debt 2,936 2,786 2,973 2,952 2,807 2,929 2,912 3,037 2,976 Financial net debt 2,686 2,542 2,722 2,684 2,554 2,649 2,659 2,797 2,742 Net debt/equity ratio, times 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 Equity/asset ratio, % 49.6 50.0 48.0 46.0 47.3 47.7 46.9 45.7 46.7 Return on shareholders' equity, % 9.9 10.5 7.5 4.2 4.7 4.3 9.2 10.4 10.9 Return on capital employed, % 8.8 10.0 8.0 6.1 6.9 6.2 9.3 10.1 10.0 Interest coverage ratio, times 3.8 1.8 8.4 4.9 4.1 -1.3 4.1 4.7 3.8 Net debt/EBITDA excluding one-off items and restructuring costs, times 2.6 2.6 2.7 2.7 2.6 2.5 2.3 2.1 2.0 Financial net debt/EBITDA excluding IFRS 16, excluding one-off items and restructuring costs, times 2.2 2.1 2.1 2.1 2.1 2.0 1.7 1.5 1.4 Number of employees at end of period 4,979 4,958 5,049 4,995 5,046 5,123 5,153 5,198 5,216 LINDAB INTERNATIONAL AB (PUBL) | CORPORATE IDENTIFICATION NUMBER 556606-5446 | LINDABGROUP.COM | PUBLISHED 6 MAY 2026 17 Q1 2026 Key performance indicators (cont.) SEK m 2025 Jan-Dec 2024 Jan-Dec 2023 Jan-Dec Net sales 12,854 13,323 13,114 Growth, % -4 2 6 - of which organic -4 -5 -9 - of which acquisitions/divestments 3 7 10 - of which currency effects -3 0 5 Operating profit before depreciation/amortisation and impairment losses 1,851 1,704 1,781 Operating profit 1,097 736 1,178 Adjusted operating profit 1,027 1,044 1,178 Profit before tax 888 461 1,008 Profit for the period 760 315 849 Operating margin, % 8.5 5.5 9.0 Adjusted operating margin, % 8.0 7.8 9.0 Adjusted EBITA margin, % 8.3 8.1 9.2 Profit margin before tax, % 6.9 3.5 7.7 Cash flow from operating activities 1,347 1,438 1,711 Cash flow from operating activities per share, SEK 17.49 18.69 22.30 Free cash flow 839 -163 951 Adjusted free cash flow 1,022 1,219 1,424 Cash flow, investments in intangible assets/tangible fixed assets -331 -229 -294 Number of shares outstanding, thousands 77,036 77,036 76,852 Average number of shares outstanding R12M, thousands 77,036 76,944 76,743 Earnings per share, before dilution, SEK 9.86 4.10 11.07 Earnings per share, after dilution, SEK 9.86 4.10 11.07 Dividend per share, SEK 5.60 1) 5.40 5,40 Shareholders' equity attributable to Parent Company shareholders 7,319 7,360 7,237 Shareholders' equity per share, SEK 95.01 95.54 94.16 Net debt 4,262 4,510 3,264 Adjusted net debt 2,786 2,929 1,894 Financial net debt 2,542 2,649 1,670 Net debt/equity ratio, times 0.6 0.6 0.5 Equity/asset ratio, % 50.0 47.7 53.4 Return on shareholders' equity, % 10.5 4.3 12.0 Return on capital employed, % 10.0 6.2 10.7 Interest coverage ratio, times 4.9 2.7 6.6 Net debt/EBITDA excluding one-off items and restructuring costs, times 2.6 2.5 1.9 Financial net debt/EBITDA excluding IFRS 16, excluding one-off items and restructuring costs, times 2.1 2.0 1.4 Number of employees at end of period 4,958 5,123 4,909 Proposed dividend for 2025. 18 LINDAB INTERNATIONAL AB (PUBL) | CORPORATE IDENTIFICATION NUMBER 556606-5446 | LINDABGROUP.COM | PUBLISHED 6 MAY 2026 Q1 2026 Notes Note 1 Accounting policies The consolidated financial statements for the interim report have, in accordance with the annual financial statements for 2025, been prepared in compliance with International Financial Reporting Standards (IFRS® Accounting Standards) and interpretations issued by the IFRS® Interpretations Committee (IFRIC Interpretations), as adopted by the European Union, and the Swedish Annual Accounts Act. The interim report has been prepared in accordance with IAS 34 Interim Financial Reporting. The Group applies the same accounting policies and calculation methods as described in the Annual Report for 2025. The interim report for Lindab Group should be read in conjunction with the Group's Annual Report for 2025, as it provides additional information and disclosures. None of the new or amended standards, interpretations or improvements adopted by the EU have had any material impact on the Group. Standards issued but not yet effective have not been applied early. Disclosures in accordance with IAS 34 paragraph 16A Interim Financial Reporting are provided both in the notes and elsewhere in the interim report. The Parent Company The financial statements of the Parent Company have been prepared in accordance with the Swedish Annual Accounts Act and RFR 2, Accounting for Legal Entities, issued by the Swedish Council for Sustainability and Financial Reporting, and in accordance with the same accounting policies as applied in the Annual Report for 2025. Note 2 Effects of changes in accounting estimates and judgements Significant estimates and judgements are disclosed in Note 4 of the Annual Report for 2025. No changes have been made to the significant estimates and judgements described in the Annual Report for 2025 that are considered to have had any material impact on the Group's financial position or results during the current interim period. Note 3 Business combinations Adjustments to contingent consideration from the acquisition date until the settlement date are recognized in the income statement. Financial effects arising from revised assessments are reported as other operating income or other operating expenses, respectively. Discount effects related to the present value calculation of contingent consideration are recognized in the Group's net financial items, together with any related foreign exchange effects. Reported operating profit was not materially impacted during the quarter by changes in assessments of outstanding contingent considerations. The Group's net financial items for the period January-March were charged with a minor discount expense attributable to contingent considerations measured at fair value in accordance with level 3 of the fair value hierarchy. No unrealised foreign exchange effects arose during the period. The contingent considerations are paid in full or in part depending on whether future expectations regarding identified profit levels are met over a two or three year period. The possible undiscounted amount for all outstanding future contingent considerations ranges between SEK 0-668 m. As of 31 March 2026, 11 percent of the maximum outcome was expected to occur, impacted by the fact that the Airmaster contingent consideration of SEK 580 m is not expected to be paid. Note 4 Assets held for sales On 11 December 2024, Lindab Group announced the decision to restructure its operations in Eastern Europe to fully focus on the ventilation business in the region. The decision was based on a strategic review of the Profile Systems business area in the affected markets. As a result of the restructuring, the profile operations in the Czech Republic, Poland and Estonia were discontinued during the first quarter of 2025. The operations in Slovakia and the profile operations in Hungary were divested in Q2 and Q4 2025, respectively. In December 2025, Lindab Group entered into an agreement to divest the operations in Romania. Completion, which was initially expected to take place during the first quarter of 2026, has been delayed due to extended processing times with the relevant authority. The divestment is now expected to be completed during the second quarter of this year. Considering the above decision, and taking into account the organisational and financial structure of each unit, all criteria under IFRS 5 Non current Assets Held for Sale and Discontinued Operations continue to be met for the operations in Romania. The operations have therefore been classified as assets held for sale since the end of the fourth quarter of 2024. Below is a summary of the assets that, at the reporting date, are recognised as held for sale in accordance with the aforementioned standard. SEK m Mar 31, 2026 Mar 31, 2025 Goodwill and other intangible assets 9 10 Tangible fixed assets 31 51 Right-of-use assets 6 8 Deferred tax assets 3 3 Inventory 27 69 Accounts receivables 21 34 Other current assets 3 12 Total assets held for sale 99 187 Deferred tax liabilities 3 4 Non-current lease liabilities 1 5 Long-term liabilities 3 5 Current lease liabilities 2 4 Current liabilities 27 54 Total liabilities held for sale 37 72 The decision to divest and discontinue all profile operations in Eastern Europe, as communicated in the fourth quarter of 2024, affected approximately 250 employees within Lindab Group. Net sales from the remaining operations covered by the decision amounted to SEK 25 m (99) during the first quarter of 2026, and adjusted operating profit amounted to SEK -6 m (-1). . Note 5 Operating segments The Group's segments consist of Ventilation Systems and Profile Systems. The basis for segmental reporting is the various customer offers provided by each business area. The customer offers within each segment were as follows: Ventilation Systems offers air duct systems with accessories and indoor climate solutions for ventilation of heating and cooling to installers and other customers in the ventilation industry. Profile Systems offers the construction industry products and systems in sheet metal for rainwater systems, cladding for ceilings and walls as well as steel profiles for wall, ceiling and beam constructions. Both Ventilation Systems' and Profile Systems' operations are managed based on geographically divided sales organisations, which are supported by a number of product and system areas with joint production and purchasing functions for each business area. What is reported under Other includes the Parent Company and other common functions. Information on income from external customers and adjusted operating profit per operating segment is presented in the tables on page 11. See also pages 5-6 for further segment information. Internal prices between the Group's segments are set based on the principle of arm's length, that is, between parties that are independent of each other, well-informed and have an interest in the transaction being carried out. Assets and investments are reported where the asset exists. Note 6 Investments Investments in intangible assets and tangible fixed assets during the quarter amounted to SEK 70 m (86), of which SEK 27 m (29) was related to investments in intangible assets. Note 7 Depreciation/amortisation and impairment Depreciation and amortisation for the quarter amounted to SEK 167 m (174), of which SEK 54 m (57) was related to tangible fixed assets, SEK 15 m (18) was related to intangible assets and SEK 98 m (99) to right of use assets. No Impairment losses were reported in the quarter (SEK 0 m). LINDAB INTERNATIONAL AB (PUBL) | CORPORATE IDENTIFICATION NUMBER 556606-5446 | LINDABGROUP.COM | PUBLISHED 6 MAY 2026 19 Q1 2026 Note 8 Financial instruments measured at fair value SEK m Mar 31, 2026 Mar 31, 2025 Dec 31, 2025 Disclosures regarding the fair value by class Carrying amount Fair value Carrying amount Fair value Carrying amount Fair value Financial assets Derivative receivables 2 2 37 37 16 16 Financial liabilities Liabilities to credit institutions 3,089 3,081 3,064 3,053 2,973 2,965 Acquisition-related contingent considerations 20 20 279 279 20 20 Derivative liabilities 23 23 5 5 3 3 1) For information of discount effects for the period January-March 2026, see note 3. Description of fair value Derivates Derivatives relate to forward exchange contracts which are valued at fair value by discounting the difference between the contracted forward rate and the forward rate that can be subscribed for on the balance sheet date for the remaining contract term. Derivative assets and derivative liabilities that are recognised can all be found at level 2 of the fair value hierarchy, based on the definition of IFRS 13 Fair Value Measurement. Liabilities to credit institutions The fair value of interest-bearing liabilities to credit institutions is disclosed for information purposes. The fair value is calculated by discounting the future cash flows of principal and interest using the current market interest rate. Acquisition-related contingent consideration Acquisition-related contingent consideration refers to financial liabilities that arose in connection with business combinations and are measured at fair value. The fair value has been determined by discounting of cash flows and is classified as level 3 in the fair value hierarchy as defined in IFRS 13 Fair Value Measurement . Recognised fair value corresponds to the present value obtained by discounting a probability-weighted average of possible future cash flows, which are assessed to be settled according to existing acquisition agreements, and with a discount factor that is based on a risk-adjusted discount rate. The fair value of acquisition-related contingent consideration is primarily sensitive to assumptions about discount rates and future cash flows. Reasonably possible changes in these assumptions would only result in marginal changes in the fair value. Such changes are not considered to have any material impact on the Group's financial position or results. Other During the period, there has not been any transfers between the levels of the fair value hierarchy. There were no significant interrelationships between non-observable data that significantly affect fair values. For other financial assets and liabilities, the carrying amount is deemed to be a reasonable approximation of fair value. The Group holdings of unlisted shares, and where the fair value cannot be estimated reliably are recognised at acquisition cost. The recognised carrying amount for these holdings are SEK 4 m (4). Note 9 Tax Profit before tax for the quarter amounted to SEK 138 m (185) and tax cost was SEK 29 m (40). The effective tax rate amounted to 21 percent (22), while the average tax rate was 21 percent (21). The actual difference between the effective tax rate in the quarter and the corresponding tax rate in the same period previous year was marginal. In the period, Lindab Group has taken into account the rules on global minimum level taxation according to Pillar Two. The impact of the rules on the effective tax rate was limited. Note 10 Related party transactions Lindab Group's related parties and the extent of transactions with related parties are described in Note 33 in the 2025 Annual Report. During the period, there have been no other transactions between Lindab Group and related parties which have had a significant impact on the company's position and profit. The interim report for Lindab International AB (publ) has been submitted following approval by the Board of Directors. Båstad, 6 May 2026 Ola Ringdahl President and CEO 20 LINDAB INTERNATIONAL AB (PUBL) | CORPORATE IDENTIFICATION NUMBER 556606-5446 | LINDABGROUP.COM | PUBLISHED 6 MAY 2026 Q1 2026 Reconciliations, key performance indicators not defined according to IFRS The company presents certain financial measures in the interim report which are not defined according to IFRS. The company considers these measures to provide valuable supplementary information for investors and the company's management as they enable the assessment of relevant trends. Lindab Group's definitions of these measures may differ from other companies' definitions of the same terms. These financial measures should therefore be seen as a supplement rather than as a replacement for measures defined according to IFRS. Definitions of measures which are not defined according to IFRS and which are not mentioned elsewhere in the interim report are presented below. Reconciliation of these measures is shown in the tables below. As the amounts in the tables below have been rounded off to SEK m, the calculations do not always add up due to round-off. Amounts in SEK m unless otherwise indicated. One-off items and restructuring costs 2026 Jan-Mar 2025 Jan-Mar 2025 Jan-Dec Operating profit 188 228 1,097 Ventilation Systems - - -98 Profile Systems - - 18 Other operations - - 10 Total one-off items and restructuring costs - - -70 Adjusted operating profit 188 228 1,027 No one off items and restructuring costs were reported during the quarter or in the corresponding period of the previous year. For the period January-December 2025, one off items and restructuring costs amounted to SEK 70 m, of which SEK 291 m related to a non-recurring income attributable to a reduction of the contingent consideration related to Airmaster. The remaining amount related to impairments and disposals of intangible and tangible fixed assets amounting to SEK -115 m, as well as restructuring measures to optimise branch networks in the Group's larger European markets. During the first quarter of 2026, a non-material portion of the restructuring provision has been utilised. Return on shareholders' equity Mar 31, 2026 Mar 31, 2025 Dec 31, 2025 Profit for the period, rolling twelve months 723 343 760 Average shareholders' equity 7,283 7,370 7,255 Return on shareholders' equity, % 9.9 4.7 10.5 Return on capital employed Mar 31, 2026 Mar 31, 2025 Dec 31, 2025 Total assets 15,137 15,213 14,629 Provisions and deferred tax liabilities 204 215 207 Other non-current liabilities 69 339 74 Total non-current liabilities 273 554 281 Provisions 224 137 235 Accounts payable 1,040 1,177 889 Other current liabilities 1,206 1,173 1,110 Total current liabilities 2,470 2,487 2,234 Capital employed 12,394 12,173 12,114 Profit before tax, rolling twelve months 841 490 888 Financial expenses, rolling twelve months 234 372 333 Total 1,074 862 1,221 Average capital employed 12,217 12,480 12,231 Return on capital employed, % 8.8 6.9 10.0 Free cash flow 2026 Jan-Mar 2025 Jan-Mar 2025 Jan-Dec Cash flow from operating activities 45 160 1,347 Cash flow from investing activities -66 -107 -508 Free cash flow -21 53 839 Cash flow related to acquisitions (+) /divestments (-) - -24 183 Adjusted free cash flow -21 77 1,022 LINDAB INTERNATIONAL AB (PUBL) | CORPORATE IDENTIFICATION NUMBER 556606-5446 | LINDABGROUP.COM | PUBLISHED 6 MAY 2026 21 Q1 2026 Cash conversion 2026 Jan-Mar 2025 Jan-Mar 2025 Jan-Dec Adjusted free cash flow -21 77 1,022 Adjusted operating profit 188 228 1,027 Cash conversion, % -11 34 100 Adjusted operating profit and operating margin 2026 Jan-Mar 2025 Jan-Mar 2025 Jan-Dec Adjusted operating profit 188 228 1,027 Operating profit 188 228 1,097 Net sales 3,003 3,214 12,854 Adjusted operating margin, % 6.3 7.1 8.0 Operating margin, % 6.3 7.1 8.5 Adjusted EBITA-margin 2026 Jan-Mar 2025 Jan-Mar 2025 Jan-Dec Adjusted operating profit 188 228 1,027 Amortisation and impairment of acquisition-related intangible assets 11 10 43 Adjusted EBITA 199 238 1,070 Net sales 3,003 3,214 12,854 Adjusted EBITA-margin, % 6.6 7.4 8.3 Net debt Mar 31, 2026 Mar 31, 2025 Dec 31, 2025 Non-current interest-bearing provisions for pensions and similar obligations 271 275 265 Non-current liabilities to credit institutions 3,088 3,058 2,971 Non-current lease liabilities 1,080 1,194 1,099 Current interest-bearing liabilities 418 380 406 Total interest-bearing provisions and liabilities 4,857 4,907 4,741 Financial interest-bearing fixed assets 21 22 21 Other interest-bearing receivables - 39 16 Cash and cash equivalents 427 480 442 Total interest-bearing assets 448 541 479 Net debt 4,410 4,366 4,262 Adjusted net debt Mar 31, 2026 Mar 31, 2025 Dec 31, 2025 Net debt 4,410 4,366 4,262 Lease liabilities -1,474 -1,559 -1,476 Adjusted net debt 2,936 2,807 2,786 Financial net debt Mar 31, 2026 Mar 31, 2025 Dec 31, 2025 Net debt 4,410 4,366 4,262 Lease liabilities -1,474 -1,559 -1,476 Pension-related assets 21 22 21 Pension-related liabilities -271 -275 -265 Financial net debt 2,686 2,554 2,542 Net debt/EBITDA Mar 31, 2026 Mar 31, 2025 Dec 31, 2025 Average net debt, rolling twelve months 4,356 4,482 4,397 Adjusted operating profit, rolling twelve months 987 1,047 1,027 Depreciation/amortisation and impairment, rolling twelve months, excluding one-off items and restructuring costs 669 687 676 Adjusted EBITDA, rolling twelve months 1,656 1,734 1,703 Net debt/EBITDA, times 2.6 2.6 2.6 22 LINDAB INTERNATIONAL AB (PUBL) | CORPORATE IDENTIFICATION NUMBER 556606-5446 | LINDABGROUP.COM | PUBLISHED 6 MAY 2026 Q1 2026 Financial net debt/EBITDA excluding IFRS 16 Mar 31, 2026 Mar 31, 2025 Dec 31, 2025 Average financial net debt, rolling twelve months 2,634 2,696 2,640 Adjusted operating profit, rolling twelve months 987 1,047 1,027 Add-back of lease expenses defined according to IFRS 16, rolling twelve months -437 -432 -439 Depreciation/amortisation and impairment, rolling twelve months, excluding one-off items and restructuring costs 669 687 676 Adjusted EBITDA, excluding IFRS 16 rolling twelve months 1,219 1,302 1,264 Financial net debt/EBITDA excluding IFRS 16, times 2.2 2.1 2.1 Net debt/equity ratio Mar 31, 2026 Mar 31, 2025 Dec 31, 2025 Net debt 4,410 4,366 4,262 Shareholders' equity 7,501 7,193 7,319 Net debt/equity ratio 0.6 0.6 0.6 Growth 2026 Jan-Mar 2025 Jan-Mar 2025 Jan-Dec Change in Net sales -211 67 -469 Of which - Organic -98 -103 -525 - Acquisitions/divestments 18 175 408 - Currency effects -131 -5 -352 Interest coverage ratio 2026 Jan-Mar 2025 Jan-Mar 2025 Jan-Dec Profit before tax 138 185 888 Interest expenses 50 60 229 Total 188 245 1,117 Interest expenses 50 60 229 Interest coverage ratio, times 3.8 4.1 4.9 Operating profit before amortisation/depreciation and impairment - EBITDA 2026 Jan-Mar 2025 Jan-Mar 2025 Jan-Dec Operating profit 188 228 1,097 Depreciation/amortisation and impairment 167 174 754 of which one-off items and restructuring costs - - 78 Operating profit before amortisation/depreciation and impairment - EBITDA 355 402 1,851 Profit margin before tax 2026 Jan-Mar 2025 Jan-Mar 2025 Jan-Dec Net sales 3,003 3,214 12,854 Profit before tax 138 185 888 Profit margin before tax, % 4.6 5.8 6.9 LINDAB INTERNATIONAL AB (PUBL) | CORPORATE IDENTIFICATION NUMBER 556606-5446 | LINDABGROUP.COM | PUBLISHED 6 MAY 2026 23 Q1 2026 Lindab Group in brief Lindab Group generated net sales of SEK 12,854 m in year 2025 and has approximately 5,000 employees in 19 countries in approximately 180 locations. Lindab Group is one of Europe's largest ventilation groups, offering customers complete ventilation solutions with products for air distribution and room ventilation. In 2025, Western Europe accounted for 45 percent, the Nordics for 41 percent, Central Europe for 10 percent and Other markets for 4 percent of total sales. The share is listed on Nasdaq Stockholm, Large Cap, under the ticker symbol LIAB. Business concept Lindab Group develops, manufactures, markets and distributes products for a better indoor climate and simplified construction. Business model Lindab Group's offering includes products and entire systems for energy-efficient ventilation and a healthy indoor climate. In some countries, Lindab Group also has an extensive offering of roof, wall and rainwater systems. The products are characterised by high quality, ease of installation, energy and environmental thinking and are delivered with a high level of service, which together gives an increased customer value. Lindab Group's value chain is characterised by a good balance between centralised and decentralised functions. The distribution network has been built up with the goal of being close to the customer. Share Share price performance 2025/2026, SEK 200 150 100 50 Press and analyst meeting A live webcast will be held at 11.00 am (CEST) on 6 May. The Interim Report will be presented by Ola Ringdahl, President and CEO, and Lars Ynner CFO. If you wish to participate via webcast please use the link below. https://lindab.events.inderes.com/q1-report-2026 If you wish to participate via teleconference please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference. https://events.inderes.com/lindab/q1-report-2026/dial-in For more information see lindabgroup.com. Calendar All financial reports will be published at lindabgroup.com. MAY Annual General Meeting 12 JUL Interim Report January - June 17 OCT Interim Report January - September 23 FEB 11 Year End Report 0 Apr May Jun Jul Aug Sep Oct Nov Dec Jan For further information, please contact Ola Ringdahl, President and CEO E-mail: [email protected] Lars Ynner, CFO E-mail: [email protected] Fredrik Wahrolén, Head of Communications E-mail: [email protected] Mobile: +46 (0) 70 539 33 79 Telephone +46 (0) 431 850 00 For more information, please visit lindabgroup.com Feb Mar Lindab OMXSPI January-March 2026 Share price performance: -33% Average share turnover/day: 122,600 Highest price paid (7 January): SEK 210.00 Lowest price paid (23 March): SEK 139.70 Closing price 31 March: SEK 152.50 Market cap 31 March: SEK 11,748 m Total no. of shares: 78,842,820 - whereof treasury shares 1,806,888 - whereof outstanding shares 77,035,932 This information is information that Lindab International AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 07.00 am (CEST) on 6 May 2026. 24 LINDAB INTERNATIONAL AB (PUBL) | CORPORATE IDENTIFICATION NUMBER 556606-5446 | LINDABGROUP.COM | PUBLISHED 6 MAY 2026 For a better climate.

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