===== SIDA 1 ===== INTERIM REPORT THIRD QUARTER • JANUARY–SEPTEMBER 2024 ===== SIDA 2 ===== THIRD QUARTER • Net sales amounted to SEK 1,333 (1,378) million, a decrease of -3.3% on the same period the previous year. • Operating earnings (EBIT) totaled SEK 91 (31) million, equating to an operating margin of 6.8% (2.3). Note that one-off effects of approximately SEK 20 million have had a positive impact on operating earnings. These are attributable, among other things, to insurance compensation linked to machinery in Poland. • Earnings after tax amounted to SEK 38 (-25) million. • Order bookings amounted to SEK 1,455 (1,566) million, a decrease of -7.2% on the same period the previous year. • Cash flow from operating activities totaled SEK -61 (20) million. • Earnings per share were SEK 1.56 (-1.49). • On July 22, the Board of Bulten AB (publ) appointed Axel Berntsson as the new President and CEO of Bulten Group. Axel joins Bulten from Absolent Air Care Group (publ) where he was President and CEO. He will take up his new role in early 2025 at the latest. Improved operating earnings despite a slight drop in sales Q3 JAN-SEPT 12-MONTH ROLLING FULL YEAR SEK MILLION 2024 2023 2024 2023 OCT 2023 – SEPT 2024 2023 Net sales 1,333 1,378 -3.3% 4,332 4,181 3.6% 5,908 5,757 2.6% Gross profit 251 210 41 828 710 118 1,086 968 118 Earnings before depreciation (EBITDA) 140 77 63 427 332 95 514 419 95 Operating earnings (EBIT) 91 31 60 281 197 84 314 230 84 Operating margin, % 6.8 2.3 4.5 6.5 4.7 1.8 5.3 4.0 1.3 Adjusted operating earnings (EBIT) 1) 91 36 55 281 210 71 314 243 71 Adjusted operating margin, % 6.8 2.6 4.2 6.5 5.0 1.5 5.3 4.2 1.1 Earnings after tax 38 -25 63 152 97 55 182 127 55 Adjusted earnings after tax 38 -20 58 152 110 42 182 140 42 Earnings per share before dilution, SEK 1.56 -1.49 3.05 6.42 3.89 2.53 7.42 4.89 2.53 Adjusted earnings per share before dilution, SEK 1.56 -1.25 2.81 6.42 4.51 1.91 7.42 5.51 1.91 Return on capital employed, % – – – – – – 9.8 8.1 1.7 Adjusted return on capital employed, % – – – – – – 9.8 8.5 1.3 1) See specification page 18. JANUARY – SEPTEMBER • Net sales amounted to SEK 4,332 (4,181) million, an increase of 3.6% on the same period the previous year. • Operating earnings (EBIT) totaled SEK 281 (197) million, equating to an operating margin of 6.5% (4.7). Note that one-off effects of approximately SEK 20 million have had a positive impact on operating earnings. These are attributable, among other things, to insurance compensation linked to machinery in Poland. • Earnings after tax amounted to SEK 152 (97) million. • Cash flow from operating activities totaled SEK 169 (262) million. • Earnings per share were SEK 6.42 (3.89). • Net debt amounted to SEK 1,461 (1,422) million. Net debt, excluding lease liabilities, totaled SEK 940 (882) million. • The equity/assets ratio was 39.4% (38.5) at the end of the period. The equity/assets ratio, excluding lease liabilities, totaled 44.0% (43.1). Q3 2024 Net sales SEK 1,333 MILLION ( 1,378 ) -3.3 % Operating earnings SEK 91 MILLION ( 31 ) Operating margin 6.8 % ( 2.3 ) In brackets Q3 2023. BULTEN • INTERIM REPORT Q3 2024 2 ===== SIDA 3 ===== CEO’S STATEMENT A financial result in the right direction The reported operating earnings for the third quarter are an improve- ment on the corresponding quarter of 2023, and on the previous quarter this year. This is a clear sign that our efforts over the past year to stabilize and streamline production, combined with a focus on reducing our costs, are paying off. The operating margin has improved during Q3, which is generally a weaker quarter as there are fewer days of production. The margin has been positively impacted by non-recurring items, including insurance compensation relating to machinery in Poland. Our long-term ambition to have an operating margin of 8% remains, although this will be difficult to achieve for 2024 as a whole. Falling demand can create opportunities There has been a slight decline in demand for fasteners from vehicle manufacturers in all markets during the quarter, though from an unusually high level in recent years. The falling demand is largely due to a decrease in vehicle sales, but also to the fact that some of our larger customers are shifting platforms, thus affecting their production volumes in the short term. In addition, there are other disruptions in OEM supply chains which impact on our sales volumes. Although the market is not growing at the same rate as before, we now have an operation that is more stable and flexible, and able to handle large fluctuations. The fall in demand gives us the opportunity to review our customer base and focus on customers and segments where we see better margins. It also enables us to review our customer contracts and phase out any unprofitable ones, something we have been doing during the quarter. We have also begun to reduce working hours in a couple of factories and we are working on a number of minor structural issues, including a review of some of our joint ventures. We cannot rule out additional structural changes moving forward if they are necessary to further improve profitability levels. Finally, I would like to highlight the increased focus on innovation and sustainability, which is essential for us if we are to remain an attractive partner in the long term. One example is in-house testing of more complex products with new geometries and functions. Our efforts to improve operating earnings have paid off during the quarter. Net sales have decreased slightly, mainly due to lower demand for fasteners in the automotive sector as a result of declining vehicle sales. A new phase in Bulten’s development This will be the last time I sign Bulten’s quarterly financial report. By January 22, 2025, I will be handing over to Axel Berntsson, our new permanent President and CEO. I have great confidence that he will go on developing Bulten very positively. Axel has experience as a CEO and a background in both sales and production, which will be of great value to our company. In closing, I would like to express my gratitude for my time on Bulten’s Executive Management Team, and the amazing people I have worked with. Christina Hallin, Interim President and CEO Q3 2024 Net sales SEK 1,333 MILLION ( 1,378 ) - 3.3% Operating earnings SEK 91 MILLION ( 31 ) Operating margin  6.8% ( 2.3 ) In brackets Q3 2023. BULTEN • INTERIM REPORT Q3 2024 3 ===== SIDA 4 ===== BULTEN IN BRIEF ORDER BOOKINGS AND NET SALES Third quarter Order bookings amounted to SEK 1,455 (1,566) million, a decrease of -7.2% on the corresponding period the previous year. Group net sales amounted to SEK 1,333 (1,378) million, a decrease of -3.3% on the same period the previous year. Adjusted for foreign exchange effects and acquisition, growth totaled -3.5% for the same period. January – September Group net sales amounted to SEK 4,332 (4,181) million, an increase of 3.6% on the same period last year. Adjusted for foreign exchange effects and acquisition, growth totaled 0.4% for the same period. Net sales 12-month rolling Net sales MSEK MSEK 0 400 800 1,200 1,600 Q3Q2Q1Q4Q3Q2Q1Q4Q3 0 1,000 2,000 3,000 4,000 5,000 6,000 2022 2023 2024 EARNINGS AND PROFITABILITY Third quarter The Group’s gross profit was SEK 251 (210) million, corresponding to a gross margin of 18.8% (15.2). Earnings before depreciation and amortization (EBITDA) amounted to SEK 140 (77) million, corre - sponding to an EBITDA margin of 10.6% (5.6). Operating earnings (EBIT) totaled SEK 91 (31) million, equating to an operating margin of 6.8% (2.3). One-off effects of approximately SEK 20 million have had a positive impact on operating earnings. These are attributable, among other things, to insurance compensation linked to machinery in Poland. The operating earnings were also affected by exchange rate fluctuations of SEK -12 (-2) million when converting working capital at the closing day rate. Adjusted operating earnings (EBIT) totaled SEK 91 (36) million, equating to an adjusted operating margin of 6.8% (2.6). The corresponding quarter previous year was adjusted with transaction costs of SEK -5 million attributable to the acquisition of Exim & Mfr Holdings Pte Ltd (“Exim”). Net financial items for the Group amounted to SEK -36 (-44) mil- lion. Financial income of SEK 6 (2) million comprises interest income of SEK 6 (2) million. Financial expenses of SEK -42 (-46) million include interest expenses of SEK -31 (-24) million, of which interest expenses for leases total SEK -4 (-3) million, foreign exchange losses of SEK -9 (-20) million and other financial expenses amounted to SEK -2 (-2) million. The Group’s profit before tax amounted to SEK 55 (-13) million and profit after tax was SEK 38 (-25) million. Adjusted profit before tax amounted to SEK 55 (-8) million and profit after tax was SEK 38 (-20) million. January – September The Group’s gross profit was SEK 828 (710) million, corresponding to a gross margin of 19.1% (17.0). Earnings before depreciation and amortization (EBITDA) amounted to SEK 427 (332) million, corre - sponding to an EBITDA margin of 9.9% (7.9). Operating earnings (EBIT) totaled SEK 281 (197) million, equating to an operating margin of 6.5% (4.7). Operating earnings were impacted by one-off effects of approximately SEK 20 million during the quarter. These are attribut - able, among other things, to insurance compensation linked to machinery in Poland. The operating earnings were also affected by exchange rate fluctuations of SEK -7 (5) million when converting working capital at the closing day rate. Adjusted operating earnings (EBIT) totaled SEK 281 (210) million, equating to an adjusted operat - ing margin of 6.5% (5.0). The corresponding period previous year was adjusted with transaction costs of SEK -13 million attributable to the acquisition of Exim & Mfr Holdings Pte Ltd (“Exim”). Net financial items for the Group amounted to SEK -76 (-40) mil- lion. Financial income of SEK 16 (9) million comprises interest income of SEK 16 (8) million, foreign gain amounted of SEK - (1) million. Financial expenses of SEK -92 (-49) million include interest expenses of SEK -82 (-45) million, of which interest expenses for leases total SEK -10 (-9) million, foreign exchange loss of SEK -4(-) MSEK and other financial expenses amounted to SEK -6 (-4) million. The Group’s profit before tax amounted to SEK 205 (157) million and profit after tax was SEK 152 (97) million. Adjusted profit before tax amounted to SEK 205 (170) million, and adjusted profit after tax was SEK 152 (110) million. CASH FLOW, WORKING CAPITAL, INVESTMENTS AND FINANCIAL POSITION Third quarter Cash flow from operating activities totaled SEK -61 (20) million. The effect on cash flow of the change in working capital amounted to SEK -132 (-17) million. Inventories increased during the period by SEK 96 (93) million. Current receivables increased by SEK 81 (39) million and current liabilities increased by SEK 30 (20) million. Cash flow from investing activities amounted to SEK -41 (-559) million. Investments of SEK 40 (29) million relate to property, plant and equipment. In the previous year, financial investments of SEK 530 million related to the acquisition of Exim. January – September Cash flow from operating activities totaled SEK 169 (262) million. The effect on cash flow of the change in working capital amounted to SEK -104 (71) million. Inventories increased during the period by SEK 149 (65) million. Current receivables changed by SEK -51 (93) million and current liabilities changed by SEK -56 (122) million. Cash flow from investing activities amounted to SEK -131 (-632) million. Investments of SEK 129 (98) million relate to property, plant and equipment. In the previous year, financial investments of SEK 530 million related to the acquisition of Exim. On the closing date, net debt amounted to SEK 1,461 (1,422) million. Net debt, excluding lease liabilities, totaled SEK 940 (882) million. Consolidated cash equivalents amounted to SEK 298 (373) million at the end of the period. In addition to cash equivalents, the Group also had approved but unused overdraft facilities of SEK 514 (505) million, which means that the Group’s liquidity amounted to SEK 812 (878) million. FINANCING AGREEMENTS Bulten has entered an agreement with a bank syndicate, including Danske Bank, Citi Bank and Svensk Exportkredit (SEK), on a new credit facility amounting to approximately SEK 1,710 million. The credit facility runs for three years until 2027, with an option for one plus one year. The credit facilities are associated with certain covenants. All covenants have been met during the period. BULTEN • INTERIM REPORT Q3 2024 4 ===== SIDA 5 ===== OTHER INFORMATION ACCOUNTING POLICIES This interim report has, for the Group, been prepared in accordance with IAS 34 Interim Financial Reporting and the Swedish Annual Accounts Act. The financial reporting for the Parent Company has been prepared in accordance with the Swedish Annual Accounts Act and RFR 2 Accounting for legal entities, issued by the Swedish Financial Reporting Board. The accounting policies applied are unchanged compared to those outlined in the 2023 Annual Report. During 2024, Bulten has started to apply hedge accounting related to EUR exposure in foreign operations. The hedging instrument consists of a euro-loan. The meaning of this application is that the currency effects regarding both the foreign operations and the euro loan are reported in other comprehensive income. Additional information regarding the financial effects of hedge accounting will be provided in the annual report for 2024. All amounts in SEK million unless otherwise stated. Figures in parentheses refer to the previous year. Some figures are rounded, so amounts might not always appear to match when added up. RISKS AND RISK MANAGEMENT Exposure to risk is a natural part of a business and this is reflected in Bulten’s approach to risk management. This aims to identify and prevent risks from occurring, and to limit any damage resulting from these risks. The most significant risks for the Group relate to market and macroeconomic risks, legal and political risks, IT-related risks, financial risks, and force majeure. The global economy is highly unstable at this time, with various political conflicts and other disrupting factors. This could have consequences for the company’s financial situation. Bulten closely monitors the global financial situation. For a more detailed description of risks, please see Note 5 Risks and risk management in the 2023 Annual Report. SEASONAL VARIATIONS Bulten has no traditional seasonal variation but the year reflects the customers’ production days, which vary between quarters. Generally speaking, the lowest net sales and operating earnings are seen in the third quarter with the lowest number of production days. The other quarters are relatively even but may vary slightly. CONTINGENT LIABILITIES There were no significant changes in contingent liabilities during the year. TRANSACTIONS WITH RELATED PARTIES There have been no significant transactions between related parties during the reporting period. For further information, please see Note 38 of the 2023 Annual Report. EMPLOYEES The average number of employees (FTE) in the Group during the period January 1 – September 30, 2024 was 1,906 (1,625). The number of employees on the closing date was 1,961. PARENT COMPANY Bulten AB (publ) owns, directly or indirectly, all the companies in the Group. The equity/assets ratio was 59.4% (66.0). Equity amounted to SEK 881 (972) million. There were no cash or cash equivalents on the closing date. The Parent Company had six employees at the end of the period. SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIOD There are no significant events to report. THE ANNUAL GENERAL MEETING The annual General Meeting will be held in Gothenburg, Sweden on Monday April 28, 2025. THE NOMINATION COMMITTE According to an AGM decision, the nomination committee shall comprise four members: one representative for each of the three largest shareholders on the final banking day in September who wishes to appoint a member, and the Chairman of the Board. The three largest shareholders are considered to be the three largest shareholders as registered with Modular Finance AB on the final banking day in September. If any of the three largest shareholders refrains from appointing a member, an offer is made to the next larg - est shareholder in order. The nomination committee ahead of the 2025 AGM is composed as follows: • Maria Rengefors, appointed by Nordea Fonder • Frank Larsson, appointed by Handelsbanken Fonder • Viktor Henriksson, appointed by Carnegie Fonder • Ulf Liljedahl, Chairman of the Board of Bulten AB Gothenburg, 22 October, 2024 Bulten AB (publ) Christina Hallin Interim President and CEO, and also board member BULTEN • INTERIM REPORT Q3 2024 5 ===== SIDA 6 ===== AUDITOR’S REPORT BULTEN AB (PUBL), ORG NO. 556668-2141 This is a translation of the Swedish language original INTRODUCTION We have conducted a review of the summary of financial information (interim report) for Bulten AB (publ) as of September 30, 2024 and the nine-month period leading up to this date. The Board of Directors and the Chief Executive Officer are responsible for prepar - ing and presenting this interim financial information in accordance with IAS 34 and the Swedish Annual Accounts Act. It is our responsibility to express a conclusion on this interim report based on our review. SCOPE OF REVIEW We have conducted a review in accordance with the International Standard on Review Engagements ISRE 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity. A review consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review has a different objective and is substantially less in scope than an audit in line with ISA and other generally accepted auditing standards in Sweden. The review procedures in a review engagement do not enable us to obtain reasonable assurance that we would become aware of all significant matters that might be identified in an audit. The expressed conclusion based on a review does not, therefore, have the same assurance as an expressed conclusion based on an audit. CONCLUSION Based on our review, nothing has come to our attention that causes us to believe that the interim report has not been prepared, in all material respects, in accordance with IAS 34 and the Swedish Annual Accounts Act regarding the Group and with the Swedish Annual Accounts Act regarding the Parent Company. Gothenburg, October 22, 2024 Öhrlings PricewaterhouseCoopers AB Signature on the Swedish original Johan Palmgren Authorized Public Accountant BULTEN • INTERIM REPORT Q3 2024 6 ===== SIDA 7 ===== STRATEGY OVERVIEW Enhanced offering, including leadership in sustainability and innovation Net sales SEK 5 bn, CAGR 10% Operating margin >8% ROCE >15% GOAL 2024 STRONG POSITION FSP/FSPS concept, geographical proximity to important customers, forefront of innovation and sustainability GROWTH Organic and acquisition growth, in and outside of the automotive industry MARGIN EXPANSION Benefits of scale, production efficiency, technology, value-creating sustainability solutions STRONG FINANCIAL PLATFORM Financial leverage, investments in efficiency, solid equity ratio, dividends 7 BULTEN • INTERIM REPORT Q3 2024 ===== SIDA 8 ===== FIVE REASONS TO INVEST IN BUL TEN 1 QUALITY SUPPLIER OF FASTENERS • Over more than 150 years, Bulten has built a market position as a quality supplier of sustainable fastener solutions, with a strong customer base that has become more diversified in recent years. • Bulten is a leading full service provider of fasteners and related services, including FSP/FSPS, and has thereby established key strategic collaborations with several customers. • With long-standing expertise and in-house technical and innovation competence, Bulten is a natural development partner to its customers and is often involved from the initial design and technical design phase. • Bulten is involved in innovative development projects such as Polestar 0, and also conducts research-related development projects with various universities and colleges. 2 FINANCIAL STRATEGY FOCUSING ON A STRONG BALANCE SHEET • Bulten has a strong financial position, with secured financing and good underlying profit capacity. This creates scope for investing in growth and in efficiency measures, as well as return opportunities for shareholders. • Over time, economies of scale have generated good profitability for Bulten. Some of the more recent measures to increase economies of scale include closures and fusions of manufacturing and logistics operations in Europe. 3 GROWTH POTENTIAL THROUGH ACQUISITIONS AND NEW SECTORS • Bulten can see potential for expansion in the automotive industry through new electrified platforms, and in the supply chain for OEMs of light and heavy commercial vehicles (Tiers 1 and 2). • With the acquisitions of PSM International (PSM) in 2020 and Exim Mfr & Enterprise (Exim) in 2023, both the product portfolio and the customer base have expanded in areas outside of automotive. This lays a good foundation for continued growth in margins. The acquisition of Exim also boosts Bulten’s position as a leading distributor of C parts*, particularly in Asia. Some of the sectors Bulten now operates in since the acquisitions are consumer electronics, medical devices, and renewable energy. • Bulten’s goal remains to expand via strategic acquisitions. • Through majority ownership of TensionCam (measuring and monitoring clamp loads), there is strong potential to offer new peripheral services related to fasteners in the future. * C-parts are components with a low unit price that manufacturing companies stock in large quantities. 4 HIGH YIELD • Bulten generates a high yield with a dividend target of at least 33% of net earnings. 5 A ROBUST OPERATION BASED ON A REGIONAL SALES STRUCTURE • Facilities close to customers in Europe, Asia, and North America allow flexibility and short lead times. Being geographically wide - spread also contributes to a robust structure, which is advanta - geous in times of protectionism, and also macroeconomic and geopolitical instability. • Bulten’s surface treatment plant in Poland strengthens the com - pany’s European infrastructure and capacity. In addition, Bulten’s new joint venture company in India will create good conditions for the expansion of micro screw sales to international customers in the electronics sector. BULTEN • INTERIM REPORT Q3 2024 8 ===== SIDA 9 ===== BULTEN’S TEN LARGEST SHAREHOLDERS SHAREHOLDERS NO. OF SHARES SHARE- HOLDING, % Volito AB 5,220,000 24.8 Nordea Funds 1,024,635 4.9 Avanza Pension 814,047 3.9 Unionen 800,000 3.8 Handelsbanken Fonder 752,690 3.6 Carnegie Fonder 580,432 2.8 Nordnet Pensionsförsäkring 576,757 2.7 Dimensional Fund Advisors 542,016 2.6 Swedbank Försäkring 386,725 1.8 HC Capital Advisors GmbH 380,358 1.8 Total number of shareholders: 11,482 Source: Monitor by Modular Finance on 30 September 2024. Bulten Share SEK OMXSPI (norm vs BULTEN) Feb MarJanOct Nov Dec SepJul AugApr May Jun 2023 2024 0 20 40 60 80 100 SHARE PERFORMANCEQ3 JAN-SEPT 12-MONTH ROLLING FULL YEAR SHARE DATA 2024 2023 2024 2023 OCT 2023 – SEPT 2024 2023 Share price at end of period (price paid). SEK 67.70 69.70 -2.00 67.70 69.70 -2.00 67.70 80.00 Highest share price during the period (price paid). SEK 87.0 0 101.00 -14.00 93.20 110.20 -17.0 0 93.20 110.20 Lowest share price during the period (price paid). SEK 67.0 0 68.20 -1.20 63.70 59.50 4.20 59.60 59.50 Market value at end of period. SEK million 1,424 1,467 -43 1,424 1,467 -43 1,424 1,683 P/E – – – – – – – 16.35 Yield. % – – – – – – – 3.13 Data per share. SEK Earnings before depreciation (EBITDA) *) 6.70 3.66 3.04 20.37 15.80 4.57 24.55 19.98 Adjusted earnings before depreciation (EBITDA) *) 6.70 3.90 2.80 20.37 16.42 3.95 24.55 20.59 Operating earnings (EBIT) *) 4.33 1.50 2.83 13.39 9.38 4.01 14.99 10.98 Adjusted operating earnings (EBIT) *) 4.33 1.73 2.60 13.39 10.00 3.39 14.98 11.59 Earnings after net financial items (EAFI) *) 2.62 -0.58 3.20 9.76 7. 5 0 2.26 11.63 9.37 Earnings for the period *) 1.56 -1.49 3.05 6.42 3.89 2.53 7.42 4.89 Adjusted earnings for the period *) 1.56 -1.25 2.81 6.42 4.51 1.91 7.42 5.51 Equity *) – – – 92.74 88.54 4.20 – 85.88 Cash flow from operating activities *) -2.89 0.92 -3.81 8.04 12.46 -4.42 – 16.81 Cash flow for the period *) -9.19 2.75 -11.94 -2.38 -3.81 -1.43 – -4.91 Proposed dividend – – – – – – – 2.50 Total outstanding ordinary shares. 000 Weighted number during the period *) 20,988.0 20,988.0 – 20,988.0 20,988.0 – 20,988.0 20,988.0 At the end of the period *) 20,988.0 20,988.0 – 20,988.0 20,988.0 – 20,988.0 20,988.0 *) Before dilution. SHAREHOLDER INFORMATION INFORMATION ABOUT INTERIM REPORTS All of Bulten’s reports are available to read and download at bulten.com. Shareholders who are unable to access the reports digitally can order printed copies by contacting Bulten. Our subscription service at bulten.com also enables users to subscribe to Bulten’s reports and press releases by e-mail. Source: Monitor by Modular Finance on 30 September 2024. BULTEN • INTERIM REPORT Q3 2024 9 ===== SIDA 10 ===== FINANCIAL INFORMATION CONSOLIDATED INCOME STATEMENT Q3 JAN-SEPT 12-MONTH - ROLLING FULL YEAR SEK MILLION NOTE 2024 2023 2024 2023 OCT 2023 – SEPT 2024 2023 Net sales 1 1,333 1,378 -45 4,332 4,181 151 5,908 5,757 Cost of goods sold -1,082 -1,168 86 -3,504 -3,471 -33 -4,822 -4,789 Gross profit 251 210 41 828 710 118 1,086 968 Other operating income 49 – 49 81 12 69 78 9 Selling expenses -109 -98 -11 -333 -278 -55 -451 -396 Administrative expenses -92 -78 -14 -299 -245 -54 -393 -339 Other operating expenses -12 -2 -10 -8 -3 -5 -19 -14 Share of profit in joint ventures 4 -1 5 12 1 11 13 2 Operating earnings 91 31 60 281 197 84 314 230 Financial income 6 2 -1 16 9 7 48 41 Financial expenses -42 -46 9 -92 -49 -43 -117 -74 Earnings before tax 55 -13 68 205 157 48 245 197 Tax on earnings for the period -17 -12 -5 -53 -60 7 -63 -70 Earnings after tax 38 -25 63 152 97 55 182 127 Attributable to Parent Company shareholders 33 -31 64 135 82 53 156 103 Non-controlling interests 5 6 -1 17 15 2 26 24 Earnings after tax 38 -25 63 152 97 55 182 127 Earnings per share attributable to Parent Company shareholders Earnings per share before dilution, SEK 1.56 -1.49 3.05 6.42 3.89 2.53 7.42 4.89 Adjusted earnings per share before dilution, SEK 1.56 -1.25 2.81 6.42 4.51 1.91 7.42 5.51 Earnings per share after dilution, SEK 1.56 -1.49 3.05 6.42 3.89 2.53 7.42 4.89 Weighted number of outstanding ordinary shares before dilution, 000 20,988.0 20,988.0 – 20,988.0 20,988.0 – 20,988.0 20,988.0 Weighted number of outstanding ordinary shares after dilution, 000 20,988.0 20,988.0 – 20,988.0 20,988.0 – 20,988.0 20,988.0 BULTEN • INTERIM REPORT Q3 2024 10 ===== SIDA 11 ===== CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Q3 JAN-SEPT 12-MONTH ROLLING FULL YEAR SEK MILLION 2024 2023 2024 2023 OCT 2023 – SEPT 2024 2023 Earnings after tax 38 -25 63 152 97 55 182 127 Other comprehensive income Items not to be reversed in the income statement Revaluation of defined-benefit pension plans, net after tax – – – – – – -2 -2 Items that may later be reversed in the income statement Exchange differences -4 -62 58 61 29 32 -15 -47 Total comprehensive income 34 -87 121 213 126 87 165 78 Attributable to Parent Company shareholders 30 -92 122 196 112 84 140 56 Non-controlling interests 4 5 -1 17 14 3 25 22 Total comprehensive income 34 -87 121 213 126 87 165 78 BULTEN • INTERIM REPORT Q3 2024 11 ===== SIDA 12 ===== CONSOLIDATED BALANCE SHEET SEK MILLION 30-09-2024 30-09-2023 31-12-2023 ASSETS Fixed assets Intangible fixed assets 1) 628 642 614 Tangible fixed assets 1,112 1,025 1,047 Right-of-use assets 494 511 482 Financial assets 67 59 56 Deferred tax assets 45 27 37 Total fixed assets 2,346 2,264 2,236 Current assets Inventories 1,202 1,024 1,053 Current receivables 1,177 1,279 1,223 Cash equivalents 298 373 340 Total current assets 2,677 2,676 2,616 Total assets 5,023 4,940 4,852 EQUITY AND LIABILITIES Equity Equity attributable to Parent Company shareholders 1,946 1,858 1,803 Non-controlling interests 33 42 35 Total equity 1,979 1,901 1,838 Long-term liabilities Deferred tax liabilities 20 3 13 Long-term interest-bearing lease liabilities 450 473 442 Other long-term interest-bearing liabilities and provisions 1,238 767 777 Total long-term liabilities 1,708 1,243 1,232 Current liabilities Current lease liabilities, interest-bearing 70 67 64 Other current liabilities, interest-bearing 2 489 398 Other current liabilities, non interest-bearing 1,264 1,240 1,320 Total current liabilities 1,336 1,796 1,782 Total equity and liabilities 5,023 4,940 4,852 1) Of which goodwill SEK 582 (633) (568) million. CONSOLIDATED STATEMENT OF CHANGES IN EQUITY JAN-SEPT SEK MILLION 30-09-2024 30-09-2023 31-12-2023 Equity at start of period 1,838 1,825 1,825 Comprehensive income Earnings after tax 152 97 127 Other comprehensive income 61 29 -49 Total comprehensive income 213 126 78 Transactions with shareholders Transaction with non-controlling interests -24 – -20 Non-controlling interests arising from the acquisition of subsidiary 4 2 7 Dividend to Parent Company shareholders -52 -52 -52 Total transactions with shareholders -72 -50 -65 Equity at end of period 1,979 1,901 1,838 BULTEN • INTERIM REPORT Q3 2024 12 ===== SIDA 13 ===== CONSOLIDATED CASH FLOW STATEMENT Q3 JAN-SEPT FULL YEAR SEK MILLION 2024 2023 2024 2023 2023 Operating activities Earnings after financial items 55 -13 205 157 197 Adjustments for items not included in cash flow 24 66 125 126 154 Taxes paid -8 -16 -57 -92 -107 Cash flow from operating activities before changes in working capital 71 37 273 191 244 Cash flow from changes in working capital Change in working capital -132 -17 -10 4 71 109 Cash flow from operating activities -61 20 169 262 353 Investing activities Acquisition of intangible fixed assets -1 -0 -3 -1 -2 Acquisition of tangible fixed assets -40 -29 -129 -98 -14 8 Divestment of tangible fixed assets 0 0 1 1 3 Acquisition of shares in subsidiaries – -530 – -534 -512 Cash flow from investing activities -41 -559 -131 -632 -659 Financing activities Change in overdraft facilities and other financial liabilities -46 617 48 401 353 Amortization of lease liabilities -21 -20 -60 -59 -78 Dividend to Parent Company shareholders – – -52 -52 -52 Transactions with non-controlling interests -24 – -24 – -20 Cash flow from financing activities -91 597 -88 290 203 Cash flow for the period -193 58 -50 -80 -103 Cash flow for the period -193 58 -50 -80 -103 Cash and cash equivalents at start of period 493 319 340 451 451 Exchange rate difference in cash and cash equivalents -2 -4 8 2 -8 Cash and cash equivalents at end of period 298 373 298 373 340 CONSOLIDATED NET DEBT COMPOSITION SEK MILLION 30-09-2024 30-09-2023 31-12-2023 Long-term interest-bearing liabilities -1,675 -1,224 -1,20 4 Provision for pensions -13 -16 -15 Current interest-bearing liabilities -72 -556 -462 Financial interest-bearing receivables 2 1 1 Cash equivalents 298 373 340 Net debt (-) -1,461 -1,422 -1,340 Less interest-bearing liabilities attributable to lease liabilities 520 540 506 Adjusted net debt (-), (excluding lease liabilities) -940 -882 -834 BULTEN • INTERIM REPORT Q3 2024 13 ===== SIDA 14 ===== FIGURES FOR THE GROUP GROUP Q3 JAN-SEPT FULL YEAR 2024 2023 2024 2023 2023 Margins EBITDA margin, % 10.6 5.6 9.9 7.9 7. 3 Adjusted EBITDA margin, % 3) 10.6 5.9 9.9 8.2 7. 5 EBIT margin (operating margin), % 6.8 2.3 6.5 4.7 4.0 Adjusted EBIT margin (operating margin), % 3) 6.8 2.6 6.5 5.0 4.2 Net margin, % 2.9 -1.8 3.5 2.3 2.2 Adjusted net margin, % 3) 2.9 -1.5 3.5 2.6 2.4 Capital structure Interest coverage ratio, times 2.3 0.7 3.2 4.2 3.6 Earnings per share attributable to Parent Company shareholders Earnings per share before dilution, SEK 1.56 -1.49 6.42 3.89 4.89 Adjusted earnings per share before dilution, SEK 3) 1.56 -1.25 6.42 4.51 5.51 Earnings per share after dilution, SEK 1.56 -1.49 6.42 3.89 4.89 Number of outstanding ordinary shares Weighted number of outstanding ordinary shares before dilution, 000 20,988.0 20,988.0 20,988.0 20,988.0 20,988.0 Weighted number of outstanding ordinary shares after dilution, 000 20,988.0 20,988.0 20,988.0 20,988.0 20,988.0 GROUP 30-09-2024 30-09-2023 31-12-2023 Capital structure Net debt/ equity ratio, times -0.7 -0.7 -0.7 Equity/ assets ratio, % 39.4 38.5 37.9 Equity/ assets ratio, (excluding lease liabilities, IFRS 16), % 44.0 43.1 42.2 Other Net debt (-), SEK million -1,4 61 -1,422 -1,34 0 Adjusted net debt (-), (excluding lease liabilities), SEK million -940 -882 -834 Equity per share attributable to Parent Company shareholders Equity per share before dilution, SEK 92.74 88.54 85.88 Equity per share after dilution, SEK 92.74 88.54 85.88 Number of outstanding ordinary shares Number of outstanding ordinary shares before dilution on the closing date, 000 20,988.0 20,988.0 20,988.0 Number of outstanding ordinary shares after dilution on the closing date, 000 20,988.0 20,988.0 20,988.0 12-MONTH ROLLING FULL YEAR OCT 2023 – SEPT 2024 OCT 2022 – SEPT 2023 2023 Profitability ratios Return on capital employed, % 9.8 9.1 8.1 Adjusted return on capital employed, % 1) 9.8 9.8 8.5 Return on capital employed, (excluding leasing, IFRS 16), % 10.8 10.3 8.7 Adjusted return on capital employed, (excluding leasing IFRS 16), % 10.7 11.1 9.2 Return on capital employed, excluding goodwill, % 11.7 10.4 9.2 Return on equity, % 8.2 8.1 5.7 Adjusted return on equity, % 2) 8.2 9.3 6.5 Capital structure Capital turnover rate, times 1.6 1.6 1.7 Employees Net sales per employee, SEK 000 3,100 3,398 3,451 Operating earnings per employee, SEK 000 165 184 138 Average number of full-time employees (FTE) 1,906 1,625 1,668 DEFINITIONS Definitions of calculated key indicators are unchanged compared to the definitions in the 2023 Annual Report. Other key indicators not in the Annual Report or on page 18 of this interim report are explained below. 1) Adjusted return on capital employed: Earnings before financial expenses adjusted for non-recurring items as a percentage of average capital employed. 2) Adjusted return on equity: Net earnings adjusted for non-recurring items divided by average equity. 3) Adjusted result: Result adjusted for items affecting comparability. BULTEN • INTERIM REPORT Q3 2024 14 ===== SIDA 15 ===== QUARTERL Y DATA FOR THE GROUP 2024 2023 2022 SEK MILLION Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Order bookings 1,455 1,541 1,299 1,582 1,566 1,476 1,356 1,437 1,033 Income statement Net sales 1,333 1,466 1,533 1,576 1,378 1,416 1,387 1,339 1,095 Gross profit 251 259 318 258 210 217 283 245 187 Adjusted gross profit 3) 251 259 318 258 210 217 283 254 187 Earnings before depreciation (EBITDA) 140 124 163 87 77 95 160 148 91 EBITDA margin, % 10.6 8.4 10.7 5.6 5.6 6.7 11.6 11.0 8.3 Adjusted Earnings before depreciation (EBITDA) 3) 140 124 163 87 82 103 160 159 91 Adjusted EBITDA margin, % 3) 10.6 8.4 10.7 5.6 5.9 7. 2 11.6 11.9 8.3 Operating earnings (EBIT) 91 74 116 33 31 50 116 103 47 EBIT margin (operating margin), % 6.8 5.1 7. 5 2.1 2.3 3.5 8.4 7.6 4.3 Adjusted Operating earnings (EBIT) 3) 91 74 116 33 36 58 116 114 47 Adjusted EBIT margin (operating margin), % 3) 6.8 5.1 7. 5 2.1 2.6 4.0 8.4 8.5 4.3 Earnings after tax 38 40 74 30 -25 43 79 73 18 Net margin, % 2.9 2.7 4.8 1.9 -1.8 3.0 5.7 5.5 1.6 Adjusted earnings after tax 3) 38 40 74 30 -20 51 79 82 18 Adjusted Net margin, % 3) 2.9 2.7 4.8 1.9 -1.5 3.6 5.7 6.2 1.6 Cash flow from operating activities -61 107 123 89 20 46 196 250 -27 investing activities -41 -51 -39 -27 -559 -33 -40 -72 -69 financing activities -91 -2 5 -87 597 -91 -216 -9 145 Cash flow for the period -193 54 89 -25 58 -78 -60 169 49 Earnings per share attributable to Parent Company shareholders Earnings per share before dilution, SEK 1.56 1.64 3.22 1.00 -1.49 1.82 3.56 3.01 0.65 Adjusted earnings per share before dilution, SEK 3) 1.56 1.64 3.22 1.00 -1.25 2.20 3.56 3.45 0.65 Number of outstanding ordinary shares Weighted number of outstanding ordinary shares before dilution, 000 20,988.0 20,988.0 20,988.0 20,988.0 20,988.0 20,988.0 20,988.0 20,988.0 20,988.0 3) See definition on page 13. BULTEN • INTERIM REPORT Q3 2024 15 ===== SIDA 16 ===== QUARTERL Y DATA FOR THE GROUP SEK MILLION 30-09-2024 30-06-2024 31-03-2024 31-12-2023 30-09-2023 30-06-2023 31-03-2023 31-12-2022 30-09-2022 30-06-2022 31-03-2022 Balance sheet Fixed assets 2,346 2,353 2,319 2,236 2,264 1,842 1,771 1,768 1,706 1,472 1,421 Current assets 2,677 2,690 2,691 2,616 2,676 2,491 2,451 2,588 2,369 2,124 1,988 Equity 1,979 1,969 2,007 1,838 1,901 1,988 1,923 1,825 1,749 1,699 1,650 Long-term liabilities 1,708 1,690 1,631 1,232 1,243 671 763 880 878 607 506 Current liabilities 1,336 1,384 1,372 1,782 1,796 1,674 1,535 1,651 1,448 1,290 1,253 Other Net debt (-) -1,4 61 -1,338 -1,30 4 -1,34 0 -1,422 -812 -780 -925 -1,081 -777 -648 Adjusted net debt (-) -940 -793 -777 -834 -882 -301 -277 -411 -569 -446 -319 Equity per share attributable to Parent Company shareholders Equity per share before dilution, SEK 92.74 91.31 93.51 85.88 88.54 92.99 90.11 85.72 82.11 79.96 7 7.45 Number of outstanding ordinary shares Number of outstanding ordinary shares on closing date before dilution, 000 20,988.0 20,988.0 20,988.0 20,988.0 20,988.0 20,988.0 20,988.0 20,988.0 20,988.0 20,988.0 20,988.0 Share price Share price at end of period (SEK) 67.70 83.50 73.50 80.00 69.70 99.40 88.20 59.50 53.20 64.00 65.10 BULTEN • INTERIM REPORT Q3 2024 16 ===== SIDA 17 ===== GROUP, 12-MONTH ROLLING SEK MILLION OCTOBER 2023– SEPTEMBER 2024 JUL Y 2023– JUNE 2024 APRIL 2023– MARCH 2024 JANUARY 2023– DECEMBER 2023 OCTOBER 2022– SEPTEMBER 2023 JUL Y 2022– JUNE 2023 APRIL 2022– MARCH 2023 JANUARY 2022– DECEMBER 2022 OCTOBER 2021– SEPTEMBER 2022 Income statement Net sales 5,908 5,953 5,903 5,757 5,520 5,237 4,827 4,474 4,088 Gross profit 1,086 1,045 1,003 968 955 932 904 826 749 Adjusted gross profit 3) 1,086 1,045 1,003 968 963 941 913 835 749 Earnings before depreciation (EBITDA) 514 451 422 419 480 494 483 355 297 EBITDA margin, % 8.7 7.6 7. 2 7. 3 8.7 9.4 10.0 7.9 7. 3 Adjusted earnings before depreciation (EBITDA) 3) 514 456 435 432 503 513 504 459 390 Adjusted EBITDA margin, % 3) 8.7 7.7 7.4 7. 5 9.1 9.8 10.4 10.3 9.5 Operating earnings (EBIT) 314 254 230 230 300 316 307 180 125 EBIT margin (operating margin), % 5.3 4.3 3.9 4.0 5.4 6.0 6.4 4.0 3.1 Adjusted operating earnings (EBIT) 3) 314 259 243 243 324 335 328 284 218 Adjusted EBIT margin (operating margin), % 3) 5.3 4.4 4.1 4.2 5.9 6.4 6.8 6.3 5.3 Earnings after tax 182 119 122 127 170 213 192 74 33 Net margin, % 3.1 2.0 2.1 2.2 3.1 4.1 4.0 1.7 0.8 Adjusted earnings after tax 3) 182 124 135 140 192 230 211 176 126 Adjusted net margin, % 3) 3.1 2.1 2.3 2.4 3.5 4.4 4.4 3.9 3.1 Employees Net sales per employee, SEK 000 3,100 3,138 3,145 3,451 3,398 3,302 3,067 2,841 2,600 Operating earnings per employee, SEK 000 165 134 123 138 184 199 195 114 80 Average number of full-time employees (FTE) on closing date 1,906 1,897 1,877 1,668 1,625 1,586 1,574 1,575 1,572 Profitability ratios Return on capital employed, % 9.8 8.2 8.2 8.1 9.1 11.8 11.2 6.3 4.5 Adjusted return on capital employed, % 1) 9.8 8.4 8.5 8.5 9.8 12.5 11.9 9.9 7.9 Return on capital employed, (excluding leasing, IFRS 16), % 10.8 9.2 8.9 8.7 10.3 13.1 12.6 7.0 5.0 Return on capital employed, (excluding goodwill), % 11.7 9.3 9.3 9.2 10.4 12.8 12.1 6.8 4.9 Adjusted return on capital employed, excluding goodwill, % 1) 11.7 9.5 9.7 9.6 11.2 13.5 13.0 10.7 8.5 Return on equity, % 8.2 4.7 5.0 5.7 8.1 10.5 9.7 3.2 1.0 Adjusted return on equity, % 2) 8.2 5.0 5.6 6.5 9.3 11.4 10.7 9.1 6.5 Other Net debt (-)/EBITDA -2.8 -3.0 -3.1 -3.2 -3.0 -1.6 -1.6 -2.6 -3.6 Adjusted net debt (-)/EBITDA*) -1.8 -1.8 -1.8 -2.0 -1.8 -0.6 -0.6 -1.2 -1.9 Adjusted net debt (-)/ Adjusted EBITDA**) -2.2 -2.1 -2.2 -2.4 -2.1 -0.7 -0.6 -1.1 -1.8 *) Adjusted net debt (-): Net debt exclusive lease liabilities. **) Adjusted EBITDA: Adjusted for non-recurring items. BULTEN • INTERIM REPORT Q3 2024 17 ===== SIDA 18 ===== INCOME BY GEOGRAPHIC MARKET Q3 JAN-SEPT 12-MONTH - ROLLING FULL YEAR SEK MILLION 2024 2023 2024 2023 OCT 2023 – SEPT 2024 2023 Sweden 123 127 -4 455 467 -12 646 658 Germany 70 65 5 179 247 -68 249 317 UK 394 395 -1 1,358 1,192 166 1,796 1,630 Poland 9 11 -2 35 37 -2 46 48 Rest of Europe 344 389 -45 1,143 1,247 -10 4 1,540 1,644 China 209 228 -19 590 580 10 871 861 USA 73 86 -13 237 215 22 304 282 Rest of the world 111 77 34 335 196 139 456 317 Total income 1,333 1,378 -45 4,332 4,181 151 5,908 5,757 INCOME BY CUSTOMER GROUP Q3 JAN-SEPT 12-MONTH - ROLLING FULL YEAR SEK MILLION 2024 2023 2024 2023 OCT 2023 – SEPT 2024 2023 OEM Light vehicle 807 900 -93 2,688 2,831 -143 3,457 3,600 OEM Heavy commercial vehicle 117 113 4 389 392 -3 541 544 Tiers 226 211 15 731 581 150 1,140 990 Other income 183 154 29 524 377 147 770 623 Total income 1,333 1,378 -45 4,332 4,181 151 5,908 5,757 NOTE 1 INCOME Bulten is engaged in manufacturing and sales of fasteners. Revenues from product sales are reported at the time the control of the product is transferred to the customer. This usually takes place at the time of delivery to the customer and ownership is transferred. Bulten’s customers are mainly in the automotive industry in Europe, Asia and North America. The table below refers to income by geographic market where the customer’s delivery point is located. The Group has the major of its income from customers in INCOME BY CHASSIS /BODY AND POWERTRAIN Q3 JAN-SEPT 12-MONTH - ROLLING FULL YEAR SEK MILLION 2024 2023 2024 2023 OCT 2023 – SEPT 2024 2023 Chassis/body 968 1,031 -63 3,193 3,205 -12 4,286 4,298 Powertrain 179 193 -14 615 601 14 851 837 Other income 186 154 32 524 375 149 771 622 Total income 1,333 1,378 -45 4,332 4,181 151 5,908 5,757 INCOME DISTRIBUTED BY INCOME CATEGORY Q3 JAN-SEPT 12-MONTH - ROLLING FULL YEAR SEK MILLION 2024 2023 2024 2023 OCT 2023 – SEPT 2024 2023 Own production 719 814 -95 2,449 2,504 -55 3,315 3,370 Outsourced production 591 526 65 1,769 1,556 213 2,448 2,235 Other income 23 38 -15 114 121 -7 148 152 Total income 1,333 1,378 -45 4,332 4,181 151 5,908 5,757 Europe, but part of the sales is then exported to other markets in the rest of the world. Customers are mainly manufacturers of light vehicles but also heavy commercial vehicles and other suppliers, so-called tiers. Of the total sales, the majority goes to the chassis/body. Other income refers to other industries outside the automotive industry, such as consumer electronics and the affiliated company Exim Mfr & Enterprise. BULTEN • INTERIM REPORT Q3 2024 18 ===== SIDA 19 ===== RECONCILIATION BETWEEN IFRS AND KEY INDICATORS USED Some of the information in this report used by company managers and analysts to assess the Group’s development is not produced in accordance with IFRS. Company managers consider that this information makes it easier for investors to analyze the Group’s results and financial structure. Investors should see this information as a complement to, rather than a replacement for, financial reporting in accordance with IFRS. ADJUSTED NET SALES Q3 JAN-SEPT SEK MILLION 2024 2023 2024 2023 Net sales 1,333 1,378 -45 4,332 4,181 151 Acquisition -41 - -41 -16 4 - -16 4 Currency effect, current period 38 - 38 31 - 31 Adjusted net sales 1,330 1,378 -48 4,199 4,181 18 When calculating adjusted net sales, net sales are adjusted using currency effects of the current period and, where applicable, with the net sales from acquisitions made. This measurement gives a figure for comparing net sales with the previous year. EARNINGS BEFORE DEPRECIATION, EBITDA Q3 JAN-SEPT 12-MONTH - ROLLING FULL YEAR SEK MILLION 2024 2023 2024 2023 OCT 2023 – SEPT 2024 2023 Operating earnings (EBIT) 91 31 60 281 197 84 314 230 Depreciation/ amortization and impairments 49 46 3 146 135 11 200 189 Operating earnings before depreciation (EBITDA) 140 77 63 427 332 95 514 419 When calculating operating earnings excluding depreciation (EBITDA), depreciation and impairments are returned to operating earnings (EBIT). This measurement provides a figure for operating earnings excluding depreciation which are in turn based on investments. ADJUSTED EARNINGS BEFORE DEPRECIATION, ADJUSTED EBITDA Q3 JAN-SEPT 12-MONTH - ROLLING FULL YEAR SEK MILLION 2024 2023 2024 2023 OCT 2023 – SEPT 2024 2023 Operating earnings excluding depreciation (EBITDA) 140 77 63 427 332 95 514 419 Non- recurring cost - 5 -5 - 13 -13 - 13 Adjusted operating earnings before depreciation (EBITDA) 140 82 58 427 345 82 514 432 adjusted operating earnings , adjusted ebit Q3 JAN-SEPT 12-MONTH - ROLLING FULL YEAR SEK MILLION 2024 2023 2024 2023 OCT 2023 – SEPT 2024 2023 Operating earnings (EBIT) 91 31 60 281 197 84 314 230 Non-recurring cost - 5 -5 - 13 -13 - 13 Adjusted operating earnings (EBIT) 91 36 55 281 210 71 314 243 ADJUSTED NET EARNINGS Q3 JAN-SEPT 12-MONTH - ROLLING FULL YEAR SEK MILLION 2024 2023 2024 2023 OCT 2023 – SEPT 2024 2023 Net earnings 38 -25 63 152 97 55 182 127 Non-recurring cost - 5 -5 - 13 -13 - 13 Adjusted net earnings 38 -20 58 152 110 42 182 140 ADJUSTED NET DEBT (EXCLUDING LEASE LIABILITIES ) SEK MILLION 30-09-2024 30-09-2023 31-12-2023 Net debt (-) -1,4 61 -1,422 - 1,340 Less interest-bearing liabilities attributable to lease liabilities 520 540 506 Adjusted net debt (-), (excluding lease liabilities) -940 -882 -834 When calculating adjusted net debt, interest-bearing debt attributable to lease liabilities is deducted from net debt. This measurement provides a figure for a refined financial structure excluding lease liabilities. BULTEN • INTERIM REPORT Q3 2024 19 ===== SIDA 20 ===== INCOME STATEMENT, PARENT COMPANY Q3 JAN-SEPT 12-MONTH ROLLING FULL YEAR SEK MILLION 2024 2023 2024 2023 OCT 2023 – SEPT 2024 2023 Net sales 7 5 2 20 15 5 25 20 Gross profit 7 5 2 20 15 5 25 20 Administrative expenses -9 -8 -1 -37 -30 -7 -51 -44 Operating earnings -2 -3 0 -17 -15 -2 -26 -24 Interest income – – – 0 – 0 0 0 Interest expenses and similar loss items -8 -3 -5 -20 -8 -12 -22 -10 Earnings after netfinancial items -10 -6 -4 -37 -23 -14 -48 -34 Appropriations – – – – – - - – Earnings before tax -10 -6 -4 -37 -23 -14 -48 -34 Tax on earnings for the period 2 1 1 7 5 2 8 6 Earnings after tax -8 -5 -3 -30 -18 -12 -40 -28 BALANCE SHEET, PARENT COMPANY SEK MILLION 30-09-2024 30-09-2023 31-12-2023 ASSETS Fixed assets Intangible fixed assets 0 0 0 Tangible fixed assets 7 7 7 Total intangible and tangible fixed assets 7 7 7 Financial assets Participations in Group companies 1,450 1,450 1,450 Other long-term receivables 1 0 – Total financial assets 1,451 1,450 1,450 Deferred tax assets 15 5 7 Total fixed assets 1,473 1,462 1,464 Current assets Current receivables from Group companies 0 2 1 Other current receivables 9 9 7 Cash and cash equivalents - 0 – Total current assets 9 11 8 Total assets 1,482 1,473 1,472 EQUITY AND LIABILITIES Equity Restricted equity 110 110 110 Non-restricted equity 771 862 853 Total equity 881 972 963 Long-term liabilities Long-term liabilities to Group companies 575 486 496 Total long-term liabilities 575 486 496 Current liabilities Current liabilities to Group companies 7 0 0 Other current liabilities 19 15 13 Total current liabilities 26 15 13 Total equity and liabilities 1,482 1,473 1,472 BULTEN • INTERIM REPORT Q3 2024 20 ===== SIDA 21 ===== Bulten AB (publ) Box 9148, SE-400 93 Göteborg • Visiting address: August Barks Gata 6 A Phone +46 (0)31 -734 59 00 • www.bulten.com This information is information that Bulten AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 13:30 PM CEST on October 22, 2024. FINANCIAL CALENDAR February 3, 2025 Full year report January - December 2024 April 28, 2025 Interim report January - March 2025 July 10, 2025 Half-year report January - June 2025 October 21, 2025 Interim report January - September 2025 February 3, 2026 Full year report January - December 2025 The reports can be found on the Bulten website at www.bulten.com on their date of publication. CONTAC T Ulrika Hultgren, SVP Corporate Communications & IR Phone: +46 727-47 17 58 E-mail: ulrika.hultgren@bulten.com PRESENTATION OF THE REPORT A live presentation for analysts, media and investors will be held on October 22, at 15.30 PM CEST, where Interim President and CEO Christina Hallin and CFO Anna Åkerblad will be commenting the result. The presentation will be held in English. If you wish to participate via webcast, please use the link: https:/ /ir.financialhearings.com/bulten-q3-report-2024. Via the webcast you are able to ask written questions. If you wish to participate via teleconference, please register on the link: https:/ /conference.financialhearings.com/teleconference/?id=50049094. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference. Countries where Bulten has significant operations, such as manufacturing. Bulten’s sales organization is represented in more countries than those marked above. Bulten Group is a leading global manufacturer and distributor of fasteners to the automotive industry, as well as other industries such as consumer electronics. The offering extends from a wide range of standard products to specially adapted fasteners. With Bulten’s Full Service Provider concept (FSP), customers can entrust all their fastener needs to the company, including development, sourcing, logistics and service. Bulten was founded in 1873, has approximately 1,900 employees around the world and is headquartered in Gothenburg, Sweden. Exim & Mfr Enterprise has been part of Bulten Group since 2023. Net sales in 2023 totaled SEK 5,757 million. The share (BULTEN) is listed on Nasdaq Stockholm. BULTEN IN BRIEF