Slides
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23 September 2026 Mattias Ankarberg, CEO Toby Lawton, CFO Pre-quarter update
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Positive development continues in peak season • Organic growth and increased profitability in biggest quarter • Focus on building Champions and driving efficiency gains gives results • Growth in all four product areas, fastest growth in Active with Kids & Dogs • Acquisition of curli, leader in premium dog harnesses 2 2026/Q2 HIGHLIGHTS
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Long term profitable growth 0 500 1 000 1 500 2 000 2 500 0 2 000 4 000 6 000 8 000 10 000 12 000 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Q2 LTM Net sales SEK m EBIT SEK m EBITNet sales Note: EBIT adjusted to exclude restructuring costs of SEK 31m in Q2 2025 related to North America restructuring and SEK 23m in Q2 2026 mainly related to restructuring in Belgium 2026/Q2 LTM Net sales SEK 10.4b EBIT SEK 1.7b EBIT margin 16.8% 3 FX impact
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Focus 2026: build Champions and drive efficiency gains Focus on Champions and efficiency gains deliver results • Organic growth and increased profitability 2026/H1, despite tough market • Impact of Middle East conflict on already cautious consumers – RV registrations decline following period of improved market conditions – More consumers expect to spend summer vacations close to home – North Am still toughest market • Raw material cost increases to be mitigated by price increases 2026/Q3 #1: Build bigger and more Champions • Launch new and upgraded products to grow existing Champion categories • Add more Champions by growing product portfolio and presence in dog transportation, car seats and all-terrain & running strollers • Turn Bags by focusing on outdoor products and functional accessories #2: Efficiency gains and scale effects • More focused R&D spend 2026 – more on Champions, lower total • Supply chain efficiency gains, e.g., insourcing, technology platforms • Continue reduce structural cost, incl. automate Poland DC, go-live 2027 4
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Product launches 2026 support focus on champions Grow our no 1 positions – our champion categories • Thule Epos ParkSecure – our most premium bike carrier gets better • Thule Vero – premium hitch bike carrier built for heavier bikes • Thule VeloLite – new entry level bike carrier, first ever 1-bike version • Thule VeloSpace 3 – upgraded versatile carrier for heavier bikes • Thule Pulse 2 – refreshed version of our entry level roof box Build out our next generation champion categories • Thule WideSky – hardshell rooftop tent with low profile and fast setup • Connected car seats – sensor-based feedback to prevent misuse • Thule Dart – premium harnesses for larger dogs Focus bags on outdoor and functional accessories • Thule EnRoute – refresh of best-selling backpack collection • Thule InLock – innovative new bike commute bag and rack solution • Thule Chasm Gear Haulers – extending best-seller into storage & org 5
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Thule Vero – premium hitch bike carrier built for heavier bikes 6
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Thule Epos ParkSecure – our most premium bike carrier gets better 7
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Thule VeloLite – new entry level bike carrier, first ever 1-bike version 8
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Connected car seats – sensor-based feedback to prevent misuse 10
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Thule Dart – premium harnesses for larger dogs 11
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1 350 1 400 1 450 1 500 1 550 1 600 1 650 1 700 1 750 0 100 200 300 400 500 600 700 800 900 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 EBIT (adj.) Operating income Operating income LTM 7 000 7 500 8 000 8 500 9 000 9 500 10 000 10 500 11 000 0 500 1 000 1 500 2 000 2 500 3 000 3 500 4 000 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Net sales Net sales Net sales LTM Quarterly overview 12 SEK m SEK m SEK m SEK m
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Q&A 13