===== SIDA 1 ===== Press release from Atlas Copco AB Atlas Copco Group Center Atlas Copco AB Visitors address: Telephone: +46 8 743 8000 A Public Company (publ) SE-105 23 Stockholm Sickla Industriväg 19 www.atlascopcogroup.com Reg. No: 556014-2720 Sweden Nacka Reg. Office Nacka October 25, 2023 Atlas Copco Third-quarter report 2023 Solid orders, record revenues and operating profit The comparison figures presented in this report refer to previous year unless otherwise stated. Third quarter • Orders received increased 5% to MSEK 42 606 (40 555), organic decline of 1% • Revenues increased 17% to MSEK 44 485 (38 074), organic growth of 10% • Operating profit reached MSEK 10 117 (8 378), corresponding to a margin of 22.7% (22.0) - Adjusted operating profit, excluding items affecting comparability, was MSEK 10 110 (8 469), corresponding to a margin of 22.7% (22.2) • Profit before tax amounted to MSEK 9 928 (8 448) • Basic earnings per share were SEK 1.60 (1.34) • Operating cash flow at MSEK 6 581 (5 705) • Return on capital employed was 30% (29) January - September MSEK 2023 2022 2023 2022 Orders received 42 606 40 555 5% 133 784 121 944 10% Revenues 44 485 38 074 17% 127 710 101 271 26% EBITA* 10 671 8 844 21% 29 604 23 650 25% – as a percentage of revenues 24.0 23.2 23.2 23.4 Operating profit 10 117 8 378 21% 28 005 22 406 25% – as a percentage of revenues 22.7 22.0 21.9 22.1 Profit before tax 9 928 8 448 18% 27 609 22 424 23% – as a percentage of revenues 22.3 22.2 21.6 22.1 Profit for the period 7 803 6 536 19% 21 272 17 427 22% Basic earnings per share, SEK 1.60 1.34 4.37 3.58 Diluted earnings per share, SEK 1.60 1.34 4.36 3.57 Return on capital employed, % 30 29 *Operating profit excluding amortization of intangibles related to acquisitions. July - September Near-term demand outlook Atlas Copco expects that the customers’ activity level will weaken compared to the third quarter. Previous near-term demand outlook (published July 19, 2023): Atlas Copco expects that the customer activity level will weaken somewhat compared to the current high level. Quarterly and annual financial data in Excel format can be found at: https://www.atlascopcogroup.com/en/investor-relations/financial-reports-presentations/latest-results ===== SIDA 2 ===== Atlas Copco – Q3 2023 2 (18) Summary of nine-month results Orders received in the first nine months of 2023 increased by 10% to MSEK 133 784 (121 944). Acquisitions contributed with 5% and currency had a positive effect of 5%. Organically, order volumes were unchanged. Revenues increased by 26% to MSEK 127 710 (101 271), corresponding to an 15% organic increase. Operating profit increased by 25% to MSEK 28 005 (22 406). The operating margin was 21.9% (22.1). Adjusted for items affecting comparability, the margin was 22.1% (21.8). The positive impact of changes in exchange rates was MSEK 1 060. Profit before tax was MSEK 27 609 (22 424), corresponding to a margin of 21.6% (22.1). Profit for the period totaled MSEK 21 272 (17 427). Basic and diluted earnings per share were SEK 4.37 (3.58) and 4.36 (3.57) respectively. Operating cash flow before acquisitions, divestments and dividends totaled MSEK 14 393 (11 169). Review of the third quarter Market development The overall order intake for the Atlas Copco Group’s products and services was strong. Order volumes remained basically at the same high level as the previous year. Sequentially, and compared to the previous quarter, however, order volumes were somewhat down. Year-on-year, orders grew for large industrial compressors, while order volumes for smaller industrial compressors and gas and process compressors were unchanged. Order volumes for vacuum equipment decreased markedly, primarily but not exclusively, driven by the significantly lower demand from the semiconductor industry. The order intake for industrial assembly and vision solutions was basically unchanged, while orders for power and flow equipment increased, driven by increased demand for generators, industrial pumps and energy systems. The specialty rental business achieved solid order growth in the quarter, and order volumes for service increased in all business areas. In total, the order intake increased in Europe and Asia but was unchanged in North America. Geographic distribution of orders received July - September 2023 Orders received, % Change*, % North America 27 -0 South America 4 +5 Europe 27 +5 Africa/Middle East 5 +22 Asia/Oceania 37 +3 Atlas Copco Group 100 +3 Atlas Copco Group *Change in orders received compared to the previous year in local currency. Sales bridge Orders MSEK received Revenues 2022 40 555 38 074 Structural change, % +4 +4 Currency, % +2 +3 Organic*, % -1 +10 Total, % +5 +17 2023 42 606 44 485 *Volume, price and mix. July - September Orders, revenues, and operating profit margin 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 0 5 000 10 000 15 000 20 000 25 000 30 000 35 000 40 000 45 000 50 000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2020 2021 2022 2023 Orders received, MSEK Revenues, MSEK Operating margin, % Adjusted operating margin, % Geographic distribution of orders received and revenues July - September 2023 Orders received Revenues Orders received Revenues Orders received Revenues Orders received Revenues Orders received Revenues North America 26 24 28 24 32 32 21 28 27 26 South America 6 6 0 0 3 3 9 6 4 4 Europe 27 31 14 16 34 34 33 33 27 28 Africa/Middle East 7 6 1 1 2 1 7 8 5 5 Asia/Oceania 34 33 57 59 29 30 30 25 37 37 100 100 100 100 100 100 100 100 100 100 Industrial Technique, % Power Technique, % Atlas Copco, %Vacuum Technique, %Compressor Technique, % ===== SIDA 3 ===== Atlas Copco – Q3 2023 3 (18) Revenues, profits and returns Revenues increased 17% to record MSEK 44 485 (38 074), corresponding to an organic growth of 10%. Currency had a positive effect of 3%, and acquisitions added 4%. The operating profit increased 21% to record MSEK 10 117 (8 378) and includes a change in provision for share related long-term incentive programs, reported in Common Group Items of MSEK +7 (-91). Adjusted operating profit increased 19% to MSEK 10 110 (8 469), corresponding to a margin of 22.7% (22.2). The main explanation for the higher margin was increased organic revenues. Net financial items amounted to MSEK -189 (70) whereof interest net at MSEK -143 (-46). The increased interest cost was mainly a result of higher interest rates. Other financial items, including financial exchange differences, were MSEK -46 (116). Profit before tax amounted to MSEK 9 928 (8 448), corresponding to a margin of 22.3% (22.2). Corporate income tax amounted to MSEK -2 125 (-1 912), corresponding to an effective tax rate of 21.4% (22.6). The lower effective tax rate compared to the previous year was due to fewer negative one-offs compared to average. Profit for the period was MSEK 7 803 (6 536). Basic and diluted earnings per share were SEK 1.60 (1.34) and SEK 1.60 (1.34), respectively. The return on capital employed during the last 12 months was 30% (29). Return on equity was 32% (32). The Group uses a weighted average cost of capital (WACC) of 8.0% as an investment and overall performance benchmark. Operating cash flow and investments Operating cash surplus increased to MSEK 11 926 (9 937). Net financial items and taxes paid amounted to MSEK -2 474 (-1 885). Working capital increased by MSEK 963, mainly due to decreased payables (increase of 665). Net investments in rental equipment were MSEK -507 (-204). Net investments in property, plant, and equipment, were MSEK -967 (-977). Operating cash flow (an important internal KPI, but not an IFRS measurement, and hence defined on page 13) reached MSEK 6 581 (5 705). Net indebtedness The Group’s net indebtedness amounted to MSEK 25 293 (24 622), of which MSEK 2 324 (1 784) was attributable to post-employment benefits. The Group’s interest-bearing liabilities have an average maturity of 4.9 years. The net debt/EBITDA ratio was 0.6 (0.7) and the net debt/equity ratio was 27% (32). Acquisition and divestment of own shares During the quarter, 229 432 series A shares, net, were sold for a net value of MSEK 34. These transactions are in accordance with mandates granted by the Annual General Meeting and relate to the Group’s long-term incentive programs. See page 17. Employees On September 30, 2023, the number of employees was 52 179 (47 986). The number of consultants/external workforce was 3 280 (3 935). For comparable units, the total workforce increased by 2 160 from September 30, 2022. Revenues and operating profit – bridge Volume, price, Items affecting Share-based MSEK Q3 2023 mix and other Currency Acquisitions comparability LTI* programs Q3 2022 Atlas Copco Group Revenues 44 485 3 831 1 140 1 440 - - 38 074 Operating profit 10 117 1 441 50 150 0 98 8 378 22.7% 22.0% *LTI= Long term incentive ===== SIDA 4 ===== Atlas Copco – Q3 2023 4 (18) Compressor Technique MSEK 2023 2022 2023 2022 Orders received 20 304 18 809 8% 62 242 53 632 16% Revenues 19 493 16 377 19% 55 725 43 973 27% EBITA* 5 003 4 082 23% 14 005 10 719 31% – as a percentage of revenues 25.7 24.9 25.1 24.4 Operating profit 4 856 3 963 23% 13 573 10 399 31% – as a percentage of revenues 24.9 24.2 24.4 23.6 Return on capital employed, % 82 83 * Operating profit excluding amortization of intangibles related to acquisitions. July - September January - September • Equipment orders remained at a high level, particularly larger compressors • Continued growth for service • Record revenues and operating profit, margin at 24.9% Sales bridge Orders MSEK received Revenues 2022 18 809 16 377 Structural change, % +2 +2 Currency, % +2 +3 Organic*, % +4 +14 Total, % +8 +19 2023 20 304 19 493 *Volume, price and mix. July - September Industrial compressors Order volumes for small and medium-sized compressors remained about the same level as the previous year, while the order intake for large-sized industrial compressors grew in the quarter. Sequentially, order volumes for industrial compressors decreased compared to the previous quarter. Geographically and compared to the previous year, the order intake increased in Europe and Asia but decreased in North America. Gas and process compressors The demand for gas and process compressors was strong, and order volumes remained at the same high level as the previous year. Sequentially, the order intake increased, supported by increased demand from several customer segments. Year-on-year, the order intake increased in most regions except Asia where orders were down. Compressor service The demand for service remained strong, and solid order growth was achieved in most regions. Innovation The business area launched a new turboexpander for hydrogen liquefaction, the H2ECM. The new product is designed to handle extreme low temperatures with minimal heat leak. In addition, thanks to high rotating speeds and a patented seal gas configuration, refrigeration is maximized. Revenues and profitability Revenues increased 19% to record MSEK 19 493 (16 377), corresponding to an organic increase of 14%. The operating profit also reached a record at MSEK 4 856 (3 963), corresponding to a margin of 24.9% (24.2). The higher margin was mainly due to increased organic revenues. Currency, sales mix, and dilution from acquisitions had a negative effect on the margin. Return on capital employed (last 12 months) was 82% (83). Orders, revenues and operating profit margin 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 0 2 500 5 000 7 500 10 000 12 500 15 000 17 500 20 000 22 500 25 000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2020 2021 2022 2023 Orders received, MSEK Revenues, MSEK Operating margin, % ===== SIDA 5 ===== Atlas Copco – Q3 2023 5 (18) Vacuum Technique MSEK 2023 2022 2023 2022 Orders received 8 774 9 764 -10% 27 488 32 731 -16% Revenues 10 802 10 781 0% 31 702 28 295 12% EBITA* 2 652 2 651 0% 7 777 6 913 12% – as a percentage of revenues 24.6 24.6 24.5 24.4 Operating profit 2 465 2 484 -1% 7 237 6 466 12% – as a percentage of revenues 22.8 23.0 22.8 22.9 Return on capital employed, % 22 25 *Operating profit excluding amortization of intangibles related to acquisitions. July - September January - September • Continued lower demand for equipment, mainly from the semiconductor industry • Growth for service • Revenues and operating profit flat, margin at 22.8% Sales bridge Orders MSEK received Revenues 2022 9 764 10 781 Structural change, % +3 +3 Currency, % +2 +1 Organic*, % -15 -4 Total, % -10 +0 2023 8 774 10 802 *Volume, price and mix. July - September Semiconductor and flat panel display equipment Equipment demand from the semiconductor and flat panel display industry decreased noticeably due to lower investment activity among most customers. Consequently, the order intake decreased markedly compared to the previous year. The order intake also decreased compared to the previous quarter. Geographically and compared to the previous year, order volumes decreased in all major regions. Industrial and scientific vacuum equipment The order intake for industrial and scientific vacuum equipment decreased compared to the previous year and sequentially. The negative year-on-year order development was due to lower demand for equipment to both industrial and scientific vacuum applications. Year-on-year, the order intake decreased in most regions. Vacuum service The order intake for service increased, and order growth was achieved in most regions. Innovation A new turbomolecular pump for the flat panel display industry was launched, the Edwards STP-iXA4507. The new pump offers the highest levels of gas throughput in a small format, and thanks to innovative rotor temperature sensing, it allows safe management of high flows of process gas, increasing customer productivity. Acquisitions In the quarter, the business area completed the acquisition of ZEUS Co., Ltd. a Korean distributor and service provider. The acquired business provides service and sales distribution for the Vacuum Technique business area’s cryopump products in South Korea and has 59 employees. Revenues and profitability Revenues reached MSEK 10 802 (10 781), corresponding to an organic decline of 4%. The operating profit was MSEK 2 465 (2 484), corresponding to a margin of 22.8% (23.0). Currency had a minor positive effect on the margin, while dilution from acquisitions affected the margin negatively. Return on capital employed (last 12 months) was 22% (25). Orders, revenues and operating profit margin 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 55% 60% 0 1 000 2 000 3 000 4 000 5 000 6 000 7 000 8 000 9 000 10 000 11 000 12 000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2020 2021 2022 2023 Orders received, MSEK Revenues, MSEK Operating margin, % Adjusted operating margin, % ===== SIDA 6 ===== Atlas Copco – Q3 2023 6 (18) Industrial Technique MSEK 2023 2022 2023 2022 Orders received 7 443 7 001 6% 23 090 19 871 16% Revenues 7 306 5 911 24% 21 078 16 399 29% EBITA* 1 785 1 399 28% 5 016 3 805 32% – as a percentage of revenues 24.4 23.7 23.8 23.2 Operating profit 1 647 1 267 30% 4 603 3 409 35% – as a percentage of revenues 22.5 21.4 21.8 20.8 Return on capital employed, % 20 18 *Operating profit excluding amortization of intangibles related to acquisitions. July - September January - September • Orders for equipment somewhat up, driven by general industry • Continued solid growth for service • Solid revenues and record operating profit, margin at 22.5% Sales bridge Orders MSEK received Revenues 2022 7 001 5 911 Structural change, % +0 +0 Currency, % +3 +5 Organic*, % +3 +19 Total, % +6 +24 2023 7 443 7 306 *Volume, price and mix. July - September Automotive industry The order intake for industrial assembly and vision solutions for the automotive industry remained at about the same level as the previous year. Sequentially, however, the order volumes decreased, primarily due to lower investment activity among customers in Europe and Asia. Year-on-year, orders increased in Europe, but decreased in Asia and North America. General industry Orders for industrial assembly and vision solutions for the general industry increased. The year-on-year growth was supported by increased demand from several customer segments, for example off-highway, aerospace, and vision applications for advanced material. Sequentially, the order intake decreased. Compared to the previous year, the order intake increased in most regions. Service The demand for service remained high and solid order growth was achieved in most regions. Innovation A new range of hydraulic wrenches, the Atlas Copco TorcFlex, was introduced for the energy segment, e.g. the wind turbine industry. Typical applications would be the opening and closing of critical bolted flanges during maintenance and construction work, where robustness, reliability, timesaving, and safety are crucial customer needs. Acquisitions In the quarter, the business area acquired Extend3D GmbH, a German developer of augmented reality solutions providing worker guidance for industry customers using laser and video projection. The company has 16 employees and had revenues of approximately MSEK 32 in 2022. Revenues and profitability Revenues increased 24% to MSEK 7 306 (5 911), corresponding to an organic increase of 19%. The operating profit increased 30% to record MSEK 1 647 (1 267), corresponding to a margin of 22.5% (21.4). The main explanation for the higher margin was increased revenues. Currency had a negative effect on the operating margin. Return on capital employed (last 12 months) was 20% (18). Orders, revenues and operating profit margin 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 0 1 000 2 000 3 000 4 000 5 000 6 000 7 000 8 000 9 000 10 000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2020 2021 2022 2023 Orders received, MSEK Revenues, MSEK Operating margin, % Adjusted operating margin, % ===== SIDA 7 ===== Atlas Copco – Q3 2023 7 (18) Power Technique MSEK 2023 2022 2023 2022 Orders received 6 297 5 161 22% 21 709 16 322 33% Revenues 7 142 5 207 37% 19 966 13 156 52% EBITA* 1 513 1 030 47% 4 083 2 534 61% – as a percentage of revenues 21.2 19.8 20.4 19.3 Operating profit 1 429 983 45% 3 868 2 454 58% – as a percentage of revenues 20.0 18.9 19.4 18.7 Return on capital employed, % 22 27 *Operating profit excluding amortization of intangibles related to acquisitions. July - September January - September • Solid equipment order growth, driven by acquisitions • Solid growth for specialty rental, and continued growth for service • Record revenues and operating profit, margin at 20.0% Sales bridge July - September Orders MSEK received Revenues 2022 5 161 5 207 Structural change, % +16 +15 Currency, % +2 +4 Organic*, % +4 +18 Total, % +22 +37 2023 6 297 7 142 *Volume, price and mix. Equipment The overall demand for equipment such as portable compressors, generators, energy storage systems, and industrial pumps increased somewhat. Order volumes increased compared to the previous year and were driven by higher order volumes of industrial pumps and energy storage systems. Sequentially, the order intake for equipment decreased. Geographically and compared to the previous year, the order intake increased in Asia and Europe but decreased in North America. Specialty rental The demand for the specialty rental business remained strong, and solid order growth was achieved compared to the previous year. Orders also grew sequentially. Year-on-year, the order intake increased in all regions. Service Order volumes for service continued to increase with higher order intake in most regions. Innovation A new range of portable compressors for geothermal- and foundation drilling was introduced in the quarter, the X- AIR+ 750-25, 1200-40. The new products are 10% more efficient, drill with higher pressure, and have better fuel economy than previous models. Acquisitions In the quarter, Climorent was acquired, a specialty rental provider of industrial cooling solutions based in Spain. The acquired business has 15 employees and had revenues of approximately MSEK 21 in 2022. Revenues and profitability Revenues increased 37% to record MSEK 7 142 (5 207), corresponding to an organic increase of 18%. Acquisitions contributed with 15%. The operating profit also reached a record and increased 45% to MSEK 1 429 (983), corresponding to a margin of 20.0% (18.9). The main explanation for the higher operating margin was increased organic revenues. Currency had a negative effect on the margin. Return on capital employed (last 12 months) was 22% (27). Orders, revenues and operating profit margin 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 0 1 000 2 000 3 000 4 000 5 000 6 000 7 000 8 000 9 000 10 000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2020 2021 2022 2023 Orders received, MSEK Revenues, MSEK Operating margin, % Adjusted operating margin, % ===== SIDA 8 ===== Atlas Copco – Q3 2023 8 (18) Accounting principles The consolidated accounts of the Atlas Copco Group are prepared in accordance with International Financial Reporting Standards (IFRS), as adopted by the EU. The description of the accounting principles and definitions applied in this report are found in the Annual Report 2022. The interim report is prepared in accordance with IAS 34 Interim Financial Reporting. Non-IFRS measures are also presented in the report since they are considered to be important supplemental measures of the company´s performance. For further information about these measures and how they have been calculated, please visit: https://www.atlascopcogroup.com/en/investor-relations/key- figures Risks, risk management and factors of uncertainty Atlas Copco’s global and diversified business is active within many customer segments and results in a variety of risks and opportunities geographically and operationally. Thus, the ability to identify, analyze and manage risks is crucial for effective governance and control of the business. The aim is to meet the Group’s goals with a high awareness of risks and well-managed risk taking. Atlas Copco sees the benefits of an efficient risk management both from risk reduction and business opportunity perspectives, which can lead to good business growth. Risks in Atlas Copco are identified in a 360-degree spectrum, meaning that both internal, and external exposures are assessed including today’s circumstances and future changes. The Group’s risk management approach follows the decentralized structure of Atlas Copco. Risks are analyzed and addressed in an integrated way. Local companies are responsible for their own risk management, which is monitored and followed up regularly at for example local business board meetings. Group functions responsible for legal, insurance, human resources, compliance, sustainability, treasury, tax, controlling and accounting provide policies, guidelines and instructions regarding risk management. Risk areas include compliance risks, external exposure risks, including pandemics, operational risks and strategic risks. These risk areas can impact the business negatively both in the long and short term, but often also create business opportunities if managed well. Examples of risks and how they are handled is described below. Market risks The demand for Atlas Copco’s equipment and services is affected by changes in the customers’ investment and production levels. A general economic downturn, geopolitical tensions, pandemics, changes in trade agreements, trade sanctions, a widespread financial crisis and other macroeconomic disturbances may, directly or indirectly, affect the Group negatively both in terms of revenues and profitability. However, the Group’s sales are well diversified with customers in many industries and countries around the world, which mitigates the risk. Financial risks Atlas Copco is subject to currency risks, funding risks, interest rate risks, tax risks, and other financial risks. In line with the overall goals with respect to growth, return on capital, and protecting creditors, Atlas Copco has adopted a policy to control the financial risks to which the Group is exposed. A financial risk management committee meets regularly to manage and follow up financial risks, in line with the policy. Production risks A large part of the components used in production are sourced from sub-suppliers. The availability is dependent on the sub-suppliers and if they have interruptions or lack capacity, this may adversely affect production. To minimize these risks, Atlas Copco has established a global network of sub-suppliers, which means that in most cases there are more than one sub-supplier that can provide a certain component. Atlas Copco is also directly and indirectly exposed to raw material prices. Cost increases for raw materials and components often coincide with strong end-customer demand and can partly be compensated for by increased sales prices. Acquisitions Atlas Copco has the ambition to grow all its business areas, primarily through organic growth, complemented by selected acquisitions. The integration of acquired businesses is a difficult process and it is not certain that every integration will be successful. Therefore, costs related to acquisitions can be higher and/or synergies can take longer to materialize than anticipated. Risks related to the war in Ukraine Atlas Copco’s financial exposure to Russia and Ukraine is limited. During 2022, revenues from Russia accounted for less than 1% of the Group’s total revenues. Ukraine accounted for well below 0.1% of the Group’s total revenues. Further, Atlas Copco has no production units in Russia or Ukraine. Hence the ongoing war has very limited direct financial effects on Atlas Copco. Given the uncertainties surrounding the ongoing conflict, it is very difficult to predict potential indirect effects on Atlas Copco. As of September 30, 2023, there is no significant impact on any balance sheet items. Change regarding European Commission’s decision on Belgium’s tax rulings On September 20, 2023, the General Court of the European Union (EGC) ruled in favor of the European Commission, confirming the Commission's decision from 2016 that Belgian tax rulings granted to companies regarding “Excess Profit” shall be considered as illegal state aid. Atlas Copco and the other 38 Belgian companies affected by this ruling plus the Belgian government have until November 30, 2023, to decide if they appeal the decision to the European Court of Justice (ECJ). During 2015-2017, Atlas Copco paid and expensed the full costs of MEUR 313 related to the Commission’s decision. For more information on Atlas Copco’s risk management process and further descriptions of risks and how they are handled, see the Annual Report 2022. Forward-looking statements Some statements in this report are forward-looking, and the actual outcome could be materially different. In addition to the factors explicitly discussed, other factors could have a material effect on the actual outcome. Such factors include, but are not limited to, general business conditions, fluctuations in exchange rates and interest rates, political developments, the impact of competing products and their pricing, product development, commercialization and technological difficulties, interruptions in supply, and major customer credit losses. Atlas Copco AB Atlas Copco AB and its subsidiaries are sometimes referred to as the Atlas Copco Group, the Group or Atlas Copco. Atlas Copco AB is also sometimes referred to as Atlas Copco. Any mentioning of the Board of Directors, the Board or the Directors refers to the Board of Directors of Atlas Copco AB. ===== SIDA 9 ===== Atlas Copco – Q3 2023 9 (18) Consolidated income statement (condensed) Sep. 30 Sep. 30 Sep. 30 Sep. 30 MSEK 2023 2022 2023 2022 Revenues 44 485 38 074 127 710 101 271 Cost of sales -25 413 -22 151 -72 271 -58 887 Gross profit 19 072 15 923 55 439 42 384 Marketing expenses -4 939 -4 088 -14 384 -11 179 Administrative expenses -2 537 -2 250 -7 827 -5 492 Research and development costs -1 713 -1 377 -4 957 -3 863 Other operating income and expenses 234 170 -266 556 Operating profit 10 117 8 378 28 005 22 406 - as a percentage of revenues 22.7 22.0 21.9 22.1 Net financial items -189 70 -396 18 Profit before tax 9 928 8 448 27 609 22 424 - as a percentage of revenues 22.3 22.2 21.6 22.1 Income tax expense -2 125 -1 912 -6 337 -4 997 Profit for the period 7 803 6 536 21 272 17 427 Profit attributable to - owners of the parent 7 798 6 533 21 261 17 424 - non-controlling interests 5 3 11 3 Basic earnings per share, SEK 1.60 1.34 4.37 3.58 Diluted earnings per share, SEK 1.60 1.34 4.36 3.57 Basic weighted average number of shares outstanding, millions 4 873.0 4 866.3 4 870.7 4 868.7 Diluted weighted average number of shares outstanding, millions 4 879.9 4 872.5 4 878.3 4 876.2 Key ratios Equity per share, period end, SEK 19 16 Return on capital employed, 12 month values, % 30 29 Return on equity, 12 month values, % 32 32 Debt/equity ratio, period end, % 27 32 Equity/assets ratio, period end, % 48 45 Number of employees, period end 52 179 47 986 3 months ended 9 months ended ===== SIDA 10 ===== Atlas Copco – Q3 2023 10 (18) Consolidated statement of comprehensive income Sep. 30 Sep. 30 Sep. 30 Sep. 30 MSEK 2023 2022 2023 2022 Profit for the period 7 803 6 536 21 272 17 427 Other comprehensive income Items that will not be reclassified to profit or loss Remeasurements of defined benefit pension plans 178 333 127 2 035 Income tax relating to items that will not be reclassified -50 -92 -26 -558 128 241 101 1 477 Items that may be reclassified subsequently to profit or loss Translation differences on foreign operations -1 529 4 167 2 202 10 706 Hedge of net investments in foreign operations 442 -339 -520 -1 069 Cash flow hedges 1 43 28 -218 Income tax relating to items that may be reclassified -148 110 174 389 -1 234 3 981 1 884 9 808 Other comprehensive income for the period, net of tax -1 106 4 222 1 985 11 285 Total comprehensive income for the period 6 697 10 758 23 257 28 712 Total comprehensive income attributable to - owners of the parent 6 692 10 753 23 246 28 707 - non-controlling interests 5 5 11 5 3 months ended 9 months ended ===== SIDA 11 ===== Atlas Copco – Q3 2023 11 (18) Consolidated balance sheet (condensed) MSEK Sep. 30, 2023 Sep. 30, 2022 Dec. 31, 2022 Intangible assets 71 265 67 381 67 067 Rental equipment 4 228 2 702 2 689 Other property, plant and equipment 14 548 12 111 12 720 Right-of-use assets 5 814 4 423 4 752 Financial assets and other receivables 2 740 2 420 2 668 Deferred tax assets 2 355 2 042 2 193 Total non-current assets 100 950 91 079 92 089 Inventories 31 979 27 113 27 219 Trade and other receivables 47 354 40 636 40 849 Other financial assets 690 1 462 889 Cash and cash equivalents 12 906 9 883 11 254 Assets classified as held for sale 1 1 1 Total current assets 92 930 79 095 80 212 TOTAL ASSETS 193 880 170 174 172 301 Equity attributable to owners of the parent 92 445 76 659 79 976 Non-controlling interests 53 50 50 TOTAL EQUITY 92 498 76 709 80 026 Borrowings 31 250 23 204 23 770 Post-employment benefits 2 324 1 784 2 380 Other liabilities and provisions 2 097 1 793 1 922 Deferred tax liabilities 2 366 2 954 2 745 Total non-current liabilities 38 037 29 735 30 817 Borrowings 5 315 10 979 12 563 Trade payables and other liabilities 55 998 50 971 47 142 Provisions 2 032 1 780 1 753 Total current liabilities 63 345 63 730 61 458 TOTAL EQUITY AND LIABILITIES 193 880 170 174 172 301 Fair value of derivatives, cash equivalents and borrowings The carrying value and fair value of the Group’s outstanding derivatives, liquidity funds and borrowings are shown in the tables below. The fair values of bonds are based on level 1 and the fair values of derivatives, liquidity funds and other loans are based on level 2 in the fair value hierarchy. Compared to 2022, no transfers have been made between different levels in the fair value hierarchy for derivatives and borrowings and no significant changes have been made to valuation techniques, inputs or assumptions. Liquidity funds, reported under cash equivalents, are according to IFRS 9 classified at fair value through profit and loss. For further information, see note 27 in the Annual Report 2022. http://www.atlascopco.com/ir Financial instruments recorded at fair value MSEK Sep. 30, 2023 Dec. 31, 2022 Non-current assets and liabilities Assets 103 86 Liabilities - - Current assets and liabilities Assets 835 625 Liabilities 12 288 Carrying value and fair value of borrowings MSEK Sep. 30, 2023 Sep. 30, 2023 Dec. 31, 2022 Dec. 31, 2022 Carrying value Fair value Carrying value Fair value Bonds 14 880 12 571 17 902 15 535 Other loans 15 905 15 661 13 612 13 223 Lease liability 5 780 5 780 4 819 4 819 36 565 34 012 36 333 33 577 ===== SIDA 12 ===== Atlas Copco – Q3 2023 12 (18) Consolidated statement of changes in equity (condensed) MSEK owners of the parent non-controlling interests Total equity Opening balance, January 1, 2023 79 976 50 80 026 Changes in equity for the period Total comprehensive income for the period 23 246 11 23 257 Dividend -11 203 -8 -11 211 Acquisition and divestment of own shares 730 - 730 Share-based payments, equity settled -304 - -304 Closing balance, September 30, 2023 92 445 53 92 498 MSEK owners of the parent non-controlling interests Total equity Opening balance, January 1, 2022 67 633 1 67 634 Changes in equity for the period Total comprehensive income for the period 28 707 5 28 712 Dividend -9 255 - -9 255 Redemption of shares -9 732 - -9 732 Change of non-controlling interests - 44 44 Acquisition and divestment of own shares -722 - -722 Share-based payments, equity settled 28 - 28 Closing balance, September 30, 2022 76 659 50 76 709 Equity attributable to Equity attributable to ===== SIDA 13 ===== Atlas Copco – Q3 2023 13 (18) Consolidated statement of cash flows (condensed) MSEK 2023 2022 2023 2022 Cash flows from operating activities Operating profit 10 117 8 378 28 005 22 406 Depreciation, amortization and impairment (see below) 1 990 1 633 5 649 4 565 Capital gain/loss and other non-cash items -181 -74 62 -244 Operating cash surplus 11 926 9 937 33 716 26 727 Net financial items received/paid -202 123 -1 012 -81 Taxes paid -2 272 -2 008 -7 090 -5 167 Pension funding and payment of pension to employees -83 -87 -332 -252 Change in working capital -963 -665 -6 333 -6 045 Investments in rental equipment -517 -234 -1 210 -632 Sale of rental equipment 10 30 33 71 Net cash from operating activities 7 899 7 096 17 772 14 621 Cash flows from investing activities Investments in property, plant and equipment -985 -1 014 -2 942 -2 641 Sale of property, plant and equipment 18 37 58 68 Investments in intangible assets -365 -328 -1 100 -1 024 Acquisition of subsidiaries and associated companies -315 -8 513 -3 523 -9 696 Other investments, net -15 -4 -18 21 Net cash from investing activities -1 662 -9 822 -7 525 -13 272 Cash flows from financing activities Annual dividends paid - - -5 599 -4 627 Dividends paid to non-controlling interest -4 - -8 - Redemption of shares - - - -9 732 Repurchase and sales of own shares 34 51 730 -722 Change in interest-bearing liabilities, net -2 683 1 816 -3 609 3 432 Net cash from financing activities -2 653 1 867 -8 486 -11 649 Net cash flow for the period 3 584 -859 1 761 -10 300 Cash and cash equivalents, beginning of the period 9 509 10 419 11 254 18 990 Exchange differences in cash and cash equivalents -187 323 -109 1 193 Cash and cash equivalents, end of the period 12 906 9 883 12 906 9 883 Depreciation, amortization and impairment Rental equipment 239 196 647 576 Other property, plant and equipment 490 393 1 404 1 118 Right-of-use assets 413 341 1 196 969 Intangible assets 848 703 2 402 1 902 Total 1 990 1 633 5 649 4 565 Calculation of operating cash flow MSEK 2023 2022 2023 2022 Net cash flow for the period 3 584 -859 1 761 -10 300 Add back: Change in interest-bearing liabilities, net 2 683 -1 816 3 609 -3 432 Repurchase and sales of own shares -34 -51 -730 722 Annual dividends paid - - 5 599 4 627 Dividends paid to non-controlling interest 4 - 8 - Redemption of shares - - - 9 732 Acquisitions and divestments 315 8 513 3 523 9 696 Currency hedges 29 -82 623 124 Operating cash flow 6 581 5 705 14 393 11 169 July - September January - September July - September January - September ===== SIDA 14 ===== Atlas Copco – Q3 2023 14 (18) Revenues by business area 2021 2022 2023 MSEK (by quarter) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Compressor Technique 11 522 12 212 12 792 13 131 13 305 14 291 16 377 17 085 17 632 18 600 19 493 - of which external 11 423 12 099 12 677 13 017 13 169 14 174 16 244 16 957 17 466 18 407 19 300 - of which internal 99 113 115 114 136 117 133 128 166 193 193 Vacuum Technique 6 808 7 220 7 249 7 942 8 179 9 335 10 781 10 646 9 989 10 911 10 802 - of which external 6 804 7 214 7 245 7 937 8 173 9 332 10 773 10 639 9 979 10 906 10 795 - of which internal 4 6 4 5 6 3 8 7 10 5 7 Industrial Technique 4 713 4 880 4 630 5 198 5 083 5 405 5 911 6 608 6 492 7 280 7 306 - of which external 4 705 4 873 4 622 5 190 5 072 5 396 5 900 6 595 6 469 7 260 7 290 - of which internal 8 7 8 8 11 9 11 13 23 20 16 Power Technique 3 121 3 377 3 312 3 424 3 702 4 247 5 207 5 897 5 996 6 828 7 142 - of which external 3 089 3 348 3 280 3 389 3 672 4 209 5 157 5 863 5 947 6 791 7 100 - of which internal 32 29 32 35 30 38 50 34 49 37 42 Common Group Items / Eliminations -143 -155 -159 -162 -183 -167 -202 -182 -248 -255 -258 Atlas Copco Group 26 021 27 534 27 824 29 533 30 086 33 111 38 074 40 054 39 861 43 364 44 485 Equipment and service revenues 2021 2022 2023 % of total revenues Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Compressor Technique - Equipment 56 57 58 57 55 57 58 59 57 58 59 Compressor Technique - Service 44 43 42 43 45 43 42 41 43 42 41 Vacuum Technique - Equipment 75 76 75 76 76 77 78 78 77 77 77 Vacuum Technique - Service 25 24 25 24 24 23 22 22 23 23 23 Industrial Technique - Equipment 72 74 71 74 72 72 72 74 71 74 73 Industrial Technique - Service 28 26 29 26 28 28 28 26 29 26 27 Power Technique - Equipment 60 59 56 55 55 54 56 58 58 60 56 Power Technique - Service 40 41 44 45 45 46 44 42 42 40 44 Operating profit by business area 2021 2022 2023 MSEK (by quarter) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Compressor Technique 2 730 2 916 3 087 3 141 3 170 3 266 3 963 4 026 4 245 4 472 4 856 - as a percentage of revenues 23.7 23.9 24.1 23.9 23.8 22.9 24.2 23.6 24.1 24.0 24.9 Vacuum Technique 1 695 1 789 1 748 1 834 1 859 2 123 2 484 1 941 2 268 2 504 2 465 - as a percentage of revenues 24.9 24.8 24.1 23.1 22.7 22.7 23.0 18.2 22.7 22.9 22.8 Industrial Technique 917 981 958 1 120 1 065 1 077 1 267 1 188 1 371 1 585 1 647 - as a percentage of revenues 19.5 20.1 20.7 21.5 21.0 19.9 21.4 18.0 21.1 21.8 22.5 Power Technique 476 539 548 558 664 807 983 1 071 1 145 1 294 1 429 - as a percentage of revenues 15.3 16.0 16.5 16.3 17.9 19.0 18.9 18.2 19.1 19.0 20.0 Common Group Items / Eliminations -431 -301 -341 -405 -9 6 -319 -416 -330 -666 -280 Operating profit 5 387 5 924 6 000 6 248 6 749 7 279 8 378 7 810 8 699 9 189 10 117 - as a percentage of revenues 20.7 21.5 21.6 21.2 22.4 22.0 22.0 19.5 21.8 21.2 22.7 Net financial items -44 -52 -55 2 -78 26 70 -190 -44 -163 -189 Profit before tax 5 343 5 872 5 945 6 250 6 671 7 305 8 448 7 620 8 655 9 026 9 928 - as a percentage of revenues 20.5 21.3 21.4 21.2 22.2 22.1 22.2 19.0 21.7 20.8 22.3 Return on capital employed by business area 2021 2022 2023 % (by quarter) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Compressor Technique 84 91 94 93 90 86 83 82 82 83 82 Vacuum Technique 20 23 24 25 25 25 25 24 24 23 22 Industrial Technique 12 13 15 16 17 17 18 17 18 20 20 Power Technique 19 23 25 27 29 29 27 25 24 23 22 Atlas Copco Group 23 26 27 27 27 28 29 29 29 30 30 ===== SIDA 15 ===== Atlas Copco – Q3 2023 15 (18) Acquisitions and divestments Revenues Number of Date Acquisitions Divestments Business area MSEK* employees* 2023 Aug. 3 Climorent Power Technique 21 15 2023 Jul. 17 ZEUS Co., Ltd. Vacuum Technique 59 2023 Jul. 4 Extend3D GmbH Industrial Technique 32 16 2023 Jun. 1 National Pump & Energy Power Technique 1 400 420 2023 May 23 Maziak Compressor Services Ltd. Compressor Technique 87 40 2023 May 4 C.P. Service SRL Compressor Technique 60 13 2023 May 2 James E. Watson & Co. Vacuum Technique 7 2023 Apr. 5 Shandong Bozhong Vacuum Technology Co., Ltd Vacuum Technique 120 116 2023 Apr. 4 Asven S.R.L. Compressor Technique 10 2023 Apr. 4 Trillium US Inc. Vacuum Technique 270 140 2023 Mar. 7 FS Medical Technology Business Compressor Technique 71 32 2023 Feb. 2 CVS Engineering GmbH Vacuum Technique 200 76 2023 Jan. 17 MedCore Services Inc. Compressor Technique 10 7 2022 Dec. 5 Shandong Meditech Medical Technology Co., Ltd Compressor Technique 114 70 2022 Dec. 2 Suzhou Since Gas System Co., Ltd Compressor Technique 93 80 2022 Nov. 21 Montana Instruments Corporation Vacuum Technique 106 38 2022 Nov. 11 Northeast Compressor Compressor Technique 6 2022 Nov. 9 Entreprises Larry Inc. Compressor Technique 65 2022 Nov. 2 Precision Pneumatics Ltd Compressor Technique 26 2022 Nov. 2 Wearside Pneumatics Ltd Compressor Technique 19 2022 Nov. 2 Shandong Jinggong Pump Co., Ltd Vacuum Technique 102 100 2022 Nov. 2 Aircel, LLC. Compressor Technique 55 19 2022 Oct. 17 Vector Sp. z o.o. Compressor Technique 23 2022 Oct. 4 Mesa Equipment & Supply Company Compressor Technique 19 2022 Sep. 5 DF-Druckluft-Fachhandel GmbH Compressor Technique 39 2022 Sep. 2 Oxymat A/S Compressor Technique 411 146 2022 Aug. 1 LEWA GmbH Power Technique 2 400 1 200 2022 Aug. 1 Geveke B.V. Power Technique 648 173 2022 Jul. 29 Compressed Air Products, Inc. (operating assets) Compressor Technique 20 2022 Jul. 27 Glaston Compressor Services Ltd Compressor Technique 26 2022 Jul. 18 Ceres Technologies, Inc. Vacuum Technique 351 185 2022 Jul. 8 Les pompes à vide TECHNI-V-AC inc.  Vacuum Technique 10 2022 Jul. 5 FITEC S.A.S. Compressor Technique 8 2022 Jul. 4 Bireme Group Compressor Technique 20 2022 Jul. 4 National Vacuum Equipment Inc.  Vacuum Technique 223 100 2022 Jun. 13 Qolibri Inc. Vacuum Technique 0.6 4 2022 Jun. 8 Associated Compressor Engineers Ltd (ACE) Compressor Technique 12 2022 Jun. 2 Tekser Endüstriyel Cihazlar Sanayi ve Ticaret A.Ş (Tekser) Vacuum Technique 8 2022 Jun. 1 CAS Products Ltd (CAS) Compressor Technique 12 2022 Apr. 5 Pumpenfabrik Wangen GmbH Power Technique 466 265 2022 Mar. 2 SCB S.r.l. Compressor Technique 51 16 2022 Jan. 24 Soft2tec GmbH Industrial Technique 20 38 2022 Jan. 21 HHV Pumps Pvt. Ltd. Vacuum Technique 53 151 *Annual revenues and number of employees at time of acquisition/divestment. No revenues are disclosed for former Atlas Copco d istributors. Due to the relatively small size of most of the acquisitions made in 2023, full disclosure as per IFRS 3 is not given in this interim report. Disclosure on an aggregated level will be given in the Annual Report 2023. See the Annual Report for 2022 for disclosure of acquisitions made in 2022. ===== SIDA 16 ===== Atlas Copco – Q3 2023 16 (18) Parent company Income statement (condensed) MSEK 2023 2022 2023 2022 Administrative expenses -222 -201 -705 -412 Other operating income and expenses 210 35 256 87 Operating profit/loss -12 -166 -449 -325 Financial income and expenses -180 5 893 6 284 24 335 Profit/loss before tax -192 5 727 5 835 24 010 Income tax 101 39 362 202 Profit/loss for the period -91 5 766 6 197 24 212 July - September January - September Balance sheet (condensed) Sep. 30 Sep. 30 Dec. 31 MSEK 2023 2022 2022 Total non-current assets 181 075 171 585 179 842 Total current assets 8 450 10 160 4 932 TOTAL ASSETS 189 525 181 745 184 774 Total restricted equity 5 785 5 785 5 785 Total non-restricted equity 151 933 148 122 156 517 TOTAL EQUITY 157 718 153 907 162 302 Total provisions 705 566 704 Total non-current liabilities 25 175 18 532 18 532 Total current liabilities 5 927 8 740 3 236 TOTAL EQUITY AND LIABILITIES 189 525 181 745 184 774 Assets pledged and contingent liabilities Sep. 30 Sep. 30 Dec. 31 MSEK 2023 2022 2022 Assets pledged 204 201 199 Contingent liabilities 11 347 9 695 10 066 Accounting principles Atlas Copco AB is the ultimate Parent Company of the Atlas Copco Group. The financial statements of Atlas Copco AB have been prepared in accordance with the Swedish Annual Accounts Act and the accounting standard RFR 2, Accounting for Legal Entities. The same accounting principles and methods of computation are followed in the interim financial statements as compared with the most recent annual financial statements. See also accounting principles, page 8. ===== SIDA 17 ===== Atlas Copco – Q3 2023 17 (18) Parent Company Distribution of shares Share capital equaled MSEK 786 (786) at the end of the period, distributed as follows: Class of share Shares A shares 3 357 576 384 B shares 1 560 876 032 Total 4 918 452 416 - of which A shares held by Atlas Copco 45 243 511 - of which B shares held by Atlas Copco - 4 873 208 905 Total shares outstanding, net of shares held by Atlas Copco Performance-based personnel option plan The Annual General Meeting 2023 approved a performance-based long-term incentive program. For Group Management and division presidents, the plan requires management’s own investment in Atlas Copco shares. The intention is to cover Atlas Copco’s obligation under the plan through the repurchase of the company’s own shares. For further information, see www.atlascopcogroup.com/agm Transactions in own shares Atlas Copco has mandates to acquire and sell own shares as per below: • Acquisition of not more than 14 810 000 series A shares, whereof a maximum of 10 450 000 may be transferred to personnel stock option holders under the performance-based stock option plan for 2023. • Acquisition of not more than 60 000 series A shares to hedge the obligation of the company to pay remuneration to board members who have chosen to receive 50% of the remuneration in synthetic shares. • The sale of not more than 60 000 series A shares to cover costs related to previously issued synthetic shares to board members. • The sale of a maximum 33 000 000 series A shares currently held by the company, for the purpose of covering costs of fulfilling obligations related to the option plans 2017, 2018, 2019, and 2020. • The shares may only be acquired or sold on NASDAQ Stockholm at a price within the registered price interval at any given time. During the first nine months in 2023, 4 851 940 series A shares, net, were sold. These transactions are in accordance with mandates granted. The company’s holding of own shares at the end of the period appears in the table to the left. Risks and factors of uncertainty Financial risks Atlas Copco AB is subject to currency risks, funding risks, interest rate risks, tax risks, and other financial risks. In line with the overall goals with respect to growth, return on capital, and protecting creditors, Atlas Copco has adopted a policy to control the financial risks to which Atlas Copco AB and the Group is exposed. A financial risk management committee meets regularly to manage and follow up financial risks, in line with the policy. For further information, see the Annual Report 2022. Related parties There have been no significant changes in the relationships or transactions with related parties for the Group or Parent Company compared with the information given in the Annual Report 2022. Nacka, Sweden October 25, 2023 Atlas Copco AB (publ) Mats Rahmström President and CEO The company’s auditors have not reviewed this report. ===== SIDA 18 ===== Atlas Copco – Q3 2023 18 (18) This is Atlas Copco Atlas Copco Group is a world-leading provider of sustainable productivity solutions, demanded by all types of industries, enabling everything from industrial automation to reliable medical air solutions. The Group offers innovative compressors, air treatment systems, vacuum solutions, industrial power tools and assembly systems, machine vision, and power and flow solutions. Atlas Copco develops products and services focused on productivity, energy efficiency, safety and ergonomics, supported by insights from connected products. The company was founded in 1873, is based in Nacka, Sweden, and has a global reach spanning more than 180 countries. In 2022, Atlas Copco had revenues of BSEK 141 and about 49 000 employees at year end. Business areas Atlas Copco Group has four business areas. The business areas are responsible for developing their respective operations by implementing and following up on strategies and objectives to achieve sustainable, profitable growth. The Compressor Technique business area provides compressed air solutions; industrial compressors, gas and process compressors and expanders, air and gas treatment equipment, and air management systems. The business area has a global service network and innovates for sustainable productivity in the manufacturing and process industries. Principal product development and manufacturing units are located in Belgium, the United States, China, India, Germany, and Italy. The Vacuum Technique business area provides vacuum products, exhaust management systems, valves and related products. The main markets served are semiconductor and scientific instruments as well as a wide range of industrial segments including chemical process industries, food packaging and paper handling. The business area has a global service network and innovates for sustainable productivity in order to further improve its customers’ performance. Principal product development and manufacturing units are located in the United States, Mexico, United Kingdom, Czech Republic, Germany, South Korea, China, and Japan. The Industrial Technique business area provides industrial power tools, assembly and machine vision solutions, quality assurance products, software, and service through a global network. The business area innovates for sustainable productivity for customers in the automotive and general industries. Principal product development and manufacturing units are located in Sweden, Germany, Hungary, United Kingdom, France, the United States, China, and Japan. The Power Technique business area provides portable air and power, industrial and portable flow solutions through products such as mobile compressors, generators, light towers, industrial and portable pumps, along with a number of complementary products. It also offers specialty rental and provides service through a global network. Guided by a forward-thinking approach to innovation, Power Technique provides sustainable productivity solutions across multiple industries, including construction, manufacturing, oil and gas, and exploration drilling. Principal product development and manufacturing units are located in Belgium, Spain, Germany, the United States, China, and India. Vision, mission and strategy The Atlas Copco Group’s vision is to become and remain First in Mind—First in Choice of its customers and other principal stakeholders. The mission is to achieve sustainable, profitable growth. Sustainability plays an important role in Atlas Copco’s vision and it is an integral aspect of the Group’s mission. An integrated sustainability strategy, backed by ambitious goals, helps the company deliver greater value to all its stakeholders in a way that is economically, environmentally and socially responsible. For further information • Analysts and investors Daniel Althoff, Vice President Investor Relations Mobile: +46 768 99 95 97 ir@atlascopco.com • Media Amanda Billner, Media Relations Manager Mobile: +46 735 82 56 70 media@atlascopco.com Conference call A presentation for investors, analysts and media will be held on October 25, 2023, at 14:00 CEST. To follow the presentation via webcast: https://ir.financialhearings.com/atlas-copco-q3-report-2023 To participate via teleconference: https://conference.financialhearings.com/teleconference/?id=5008600 Please visit our website: www.atlascopcogroup.com/investor-relations for the webcast link and presentation material. Fourth-quarter report 2023 The Q4 2023 report will be published on January 25, 2024, around 12:00 CET and the conference call will be at 14:00 CET. Silent period starts December 26, 2023. First-quarter report 2024 The Q1 2024 report will be published on April 24, 2024. Silent period starts March 25, 2024. Annual General Meeting 2024 The Annual General Meeting for Atlas Copco AB will be held on April 24, 2024. Capital Markets Day 2024 Atlas Copco will host its Capital Markets Day on May 16, 2024, in Antwerp, Belgium. Second-quarter report 2024 The Q2 2024 report will be published on July 18, 2024. Silent period starts June 18, 2024. Third-quarter report 2024 The Q3 2024 report will be published on October 24, 2024. Silent period starts September 24, 2024. This information is information that Atlas Copco AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact person set out above, at 12:00 CEST on October 25, 2023.