===== SIDA 1 ===== DOMETIC Q3 REPORT ─ SOLNA, OCTOBER 26, 2023 │ 1 THIRD QUARTER 2023 FIRST NINE MONTHS 2023 • Net sales were SEK 6,830 m (7,576); a decrease of -10%, of which -12% was organic growth. • Operating profit (EBITA1)) before items affecting comparability2) was SEK 973 m (1,057), corresponding to a margin of 14.3% (14.0%). • Items affecting comparability were SEK -33 m (-326). • Operating profit (EBITA1)) was SEK 940 m (731), corresponding to a margin of 13.8% (9.6%). • Operating profit (EBIT) was SEK 788 m (575), corresponding to a margin of 11.5% (7.6%). • Profit for the quarter was SEK 412 m (436). • Earnings per share were SEK 1.29 (1.36). Adjusted earnings per share3) were SEK 1.71 (2.53). • Cash flow for the quarter was SEK -1,961 m (488). A bond of EUR 300 m was repaid using cash at hand. Operating cash flow was SEK 2,125 m (812). • Net sales were SEK 22,448 m (23,591); a decrease of -5%, of which -12% was organic growth. • Operating profit (EBITA1)) before items affecting comparability2) was SEK 2,997 m (3,501), corresponding to a margin of 13.4% (14.8%). • Items affecting comparability were SEK -94 m (-499). • Operating profit (EBITA1)) was SEK 2,904 m (3,002), corresponding to a margin of 12.9% (12.7%). • Operating profit (EBIT) was SEK 2,440 m (2,553), corresponding to a margin of 10.9% (10.8%). • Profit for the period was SEK 1,281 m (1,757). • Earnings per share were SEK 4.01 (5.50). Adjusted earnings per share3) were SEK 5.26 (7.78). • Cash flow for the period was SEK 223 m (-459). Operating cash flow was SEK 4,718 m (1,151). • Net debt to EBITDA leverage ratio4) at the end of the period was 2.9x (3.0x), compared to 3.2x at end of the second quarter 2023. FINANCIAL OVERVIEW Q3 Q3 YTD YTD LTM FY SEK m 2023 2022 2023 2022 2023 2022 Net sales 6,830 7,576 22,448 23,591 28,620 29,764 Operating profit (EBITA¹⁾) before items affecting comparability²⁾ 973 1,057 2,997 3,501 3,428 3,931 % of net sales 14.3% 14.0% 13.4% 14.8% 12.0% 13.2% Operating profit (EBITA¹⁾) 940 731 2,904 3,002 3,301 3,399 % of net sales 13.8% 9.6% 12.9% 12.7% 11.5% 11.4% Operating profit (EBIT) 788 575 2,440 2,553 2,676 2,789 % of net sales 11.5% 7.6% 10.9% 10.8% 9.3% 9.4% Profit for the period 412 436 1,281 1,757 1,308 1,784 Earnings per share, SEK 1.29 1.36 4.01 5.50 4.09 5.58 Adjusted earnings per share, SEK³⁾ 1.71 2.53 5.26 7.78 5.80 8.32 Cash flow for the period -1,961 488 223 -459 556 -127 Operating cash flow 2,125 812 4,718 1,151 5,834 2,268 Net debt to EBITDA leverage ratio⁴⁾ 2,9x 3,0x 2,9x 3,0x 2,9x 3.0x RoOC, excluding goodwill and trademarks 20.3% 27.3% 20.3% 27.3% 20.3% 23.1% ⁴⁾For specification see note 9 See definitions of measures and KPIs at the end of the report. See detailed reconciliation tables on www.dometicgroup.com/investors for reconciliation of non-IFRS measures to IFRS ²⁾See Note 6 Items affecting comparability ³⁾Excludes the impact from Amortization of acquisition-related intangible assets and items affecting comparability , for specification see note 8 ¹⁾Before Amortization of acquisition-related intangible assets QUARTERLY REPORT Q3 2023 Solna, October 26, 2023 IMPROVED EBITA MARGIN AND STRONG CASH FLOW ===== SIDA 2 ===== DOMETIC Q3 REPORT ─ SOLNA, OCTOBER 26, 2023 │ 2 CEO COMMENTS We are pleased to announce the third quarter results with an improved EBITA1) margin of 14.3 percent (14.0) and our second best quarterly operating cash flow ever of SEK 2.1 b (0.8), despite the challenging macroeconomic situation and market conditions. The net debt to EBITDA leverage ratio improved sequentially to 2.9x and we are heading towards our target of around 2.5x. Net sales in the quarter totaled SEK 6,830 m (7,576), which represents an organic net sales decline by 12 percent. The situation in the Service & Aftermarket sales channel continues to improve gradually and organic net sales declined by 5 percent compared to a decline by 10 percent in the second quarter. Organic net sales in the Distribution sales channel declined by 13 percent as retailers are re-balancing their inventories with a temporary negative impact on the Igloo business. Net sales in the OEM sales channel declined by 16 percent organically due to lower net sales in the Marine segment and lower RV OEM net sales in Americas. The improved EBITA margin was driven by segments EMEA, Global and APAC, where selective pricing and cost reduction measures are generating results. While RV production in the US remains significantly below last year, segment Americas delivered a positive EBITA for the quarter supported by efficiency improvements and organic net sales growth in Service & Aftermarket. The Igloo business delivered a margin on a par with last year despite lower net sales. It is encouraging to see how our integration activities are generating results, and following several customer meetings introducing the 2024 Mobile cooling portfolio, we feel highly optimistic about the future. Segment Marine saw organic net sales decline by 15 percent due to lower industry boat production. After three years of strong organic growth, we experienced a slowdown in the quarter. The robust EBITA margin of 23.8 percent (25.7) shows how continuous efficiency improvements and investments in product innovation are generating results. Net sales in the Marine Service & Aftermarket sales channel were stable giving further resilience to the EBITA margin. Our short-term focus on adjusting capacity and improving cash flow is generating results and operating cash flow improved significantly supported by continued inventory reductions. Compared to a year ago, inventories have declined by more than SEK 2 b. and we expect further reduction going forward. The innovation index improved sequentially to 16 percent compared to 15 percent in the second quarter. Our short-term focus on reducing inventories, by driving sales on existing products, is having a temporary negative impact on the index. The pipeline of new products is robust and we expect to see progress towards our innovation index target of 25 percent as inventories of existing products are sold. We are increasing product development investments, most specifically in strategic structural growth areas such as Marine Steering Systems, Mobile Power Solutions and Mobile Cooling. In addition we are strengthening our organization around Sustainability, and the Sustainability KPIs are progressing towards our 2024 targets. The long-term trends in the Mobile Living industry are strong, however it remains difficult to predict how the current macroeconomic situation and market conditions will impact the business in the short term. We anticipate the recovery in demand in the Service & Aftermarket sales channel to continue. In the Distribution sales channel we expect a somewhat softer demand for a few quarters as retailers are re-balancing their inventories, and expect the positive margin development year-on-year in Distribution to continue. In the OEM sales channel we foresee a continued gradual weakening in demand over the coming quarters, with the exceptions of RV Americas, where we expect to see a stabilization by the end of the year and CPV where we expect to see continued good demand. While we will continue to be impacted by normal sales seasonality, the results in the last quarters show that we are transforming Dometic into a more diversified, effective and resilient consumer-oriented company. We will continue to relentlessly drive our strategic agenda to deliver on our targets, prioritize margins before volumes, and at the same time remain agile to quickly respond to short-term market trends. Juan Vargues, President and CEO 1Unless stated othwerwise, EBITA refers to EBITA before items affecting comparability. Net Sales, SEK m Op. profit (EBIT A) before i.a.c . SEK m Operating cash flow , SEK m 0 10,000 20,000 30,000 40,000 0 2,000 4,000 6,000 8,000 10,000 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2022 2023 LTMQ Quarterly Last 12 months (LTM) 0 1,000 2,000 3,000 4,000 5,000 0 400 800 1,200 1,600 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2022 2023 LTMQ Quarterly Last 12 months (LTM) -1,000 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 -500 0 500 1,000 1,500 2,000 2,500 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2022 2023 LTMQ Quarterly Last 12 months (LTM) ===== SIDA 3 ===== DOMETIC Q3 REPORT ─ SOLNA, OCTOBER 26, 2023 │ 3 FINANCIAL SUMMARY – THIRD QUARTER 2023 Net sales were SEK 6,830 m (7,576), a decrease of -10% compared with the same quarter last year. This comprised -12% organic growth, 3% currency translation and 0% M&A. Gross profit was SEK 2,083 m (2,059) corresponding to 30.5% (27.2%) of net sales. The improvement was supported by cost reductions, price management and a sales mix with a higher share of Service & Aftermarket net sales. Sales and administrative expenses totaled SEK -916 m (-914) negatively impacted by currency effects and investments in strategic structural growth areas. Sales and administrative expenses in percent of net sales was 13.5% (12.1%). Research and development expenses were SEK -145 m (-142) negatively impacted by currency effects and investments in strategic structural growth areas. In addition, Research and development expenses of SEK -9 m (-5) were capitalized in the quarter. In total, this corresponds to 2.3% (1.9%) of net sales. Other operating income and expenses were SEK -48 m (54). The deviation compared with the same quarter last year was mainly due to currency hedge effects. Operating profit (EBITA) before amortization of acquisition- related intangible assets and items affecting comparability was SEK 973 m (1,057). The corresponding margin improved to 14.3% (14.0%) despite negative currency effects. The improved margin was driven by segments EMEA, Global and APAC where selective pricing and cost reduction measures are generating results. This was partly offset by reduced margins in segments Americas and Marine driven by lower net sales. Amortization of acquisition-related intangible assets were SEK -152 m (-156). Items affecting comparability totaled SEK -33 m (-326) and were mainly related to activities in the previously announced global restructuring programs. The third quarter of 2022 included a provision related to the closure of the manufacturing operations in Siegen, Germany. Operating profit (EBIT) was SEK 788 m (575). The corresponding margin was 11.5% (7.6%). The improved margin was driven by reduced items affecting comparability and an improved EBITA2) margin. Financial items totaled a net amount of SEK -184 m (20), whereof SEK -246 m (-146) in interest on external bank and bond loans impacted by higher interest rates. Other FX revaluations and other items amounted to SEK 13 m (160) and financial income amounted to SEK 48 m (6). Taxes totaled SEK -192 m (-159), corresponding to 32% (27%) of profit before tax. The increased tax rate was due to a country mix with more taxable profits in higher tax jurisdictions and increased non-tax deductible interest costs. The year to date tax rate of 29% is the estimated full year tax rate. Current tax amounted to SEK - 133 m (-404) and deferred tax to SEK -59 m (245). Paid tax was SEK -176 m (-190). Profit for the period was SEK 412 m (436). Earnings per share were SEK 1.29 (1.36). Adjusted earnings per share were SEK 1.71 (2.53). Operating cash flow was SEK 2,125 m (812). The improvement compared with the same quarter last year was driven by reduced working capital. Cash flow was SEK -1,961 m (488), supported by an improved operating cash flow. Net cash flow from investments was SEK - 224 m (-164) of which SEK -107 m (-29) payments of deferred considerations related to acquisitions completed previous years and SEK -118 m (-141) investments in fixed assets. Net cash flow from financing was SEK -3,803 m (-111). A bond of EUR 300 m due in September, 2023 was repaid using cash at hand. The net of paid and received interest was SEK -288 m (-220). Global restructuring programs. In 2023 Dometic has two programs running. The first program was initiated 2019, targeting an annual saving of SEK 400 m at a total cost of SEK 750 m. Activities in this program was completed mid 2023. An additional program was announced in the second quarter of 2022, targeting an annual saving of SEK 200 m at a total cost of SEK 200 m, expected to be completed by the end of 2023. During the quarter, Global restructuring program costs amounted to SEK -25 m (- 329). Significant events after the quarter. As announced before, Anders Fransson joined Dometic on October 1, 2023 as new Head of Dometic Group Operations and Sustainability. Peter Jannerö, who has been interim CMO since February 1, 2023, was appointed CMO for Dometic Group on October 1, 2023. There have been no other significant events that have impacted the financial reporting after the balance sheet date. FINANCIAL SUMMARY – FIRST NINE MONTHS 2023 Net sales were SEK 22,448 m (23,591), a decrease of -5% compared with the same period last year. This comprised -12% organic growth, 7% currency translation and 0% M&A. Operating profit (EBITA) before amortization of acquisition- related intangible assets and items affecting comparability was SEK 2,997 m (3,501). The corresponding margin was 13.4% (14.8%). Gross profit in percent of net sales improved compared with the same period last year to 28.3% (27.3%). Sales, Administrative as well as Research and development expenses increased, negatively impacted by currency effects and investments in strategic structural growth areas. Other operating income and expenses were SEK -30 m (186) m, negatively impacted by currency hedge effects. Currency effects in total, mainly translation effects, had a positive impact on the operating profit, however with a limited impact on the corresponding margin. Amortization of acquisition-related intangible assets were SEK -463 m (-449). Items affecting comparability totaled SEK -94 m (-499) and were mainly related to activities in the previously announced global restructuring programs. Operating profit (EBIT) was SEK 2,440 m (2,553). The corresponding margin was 10.9% (10.8%). The margin was negatively impacted by a lower EBITA2) margin, this was more than offset by reduced items affecting comparability. Financial items totaled a net amount of SEK -641 m (-184), whereof SEK -670 m (-370) in interest on external bank and bond loans impacted by higher interest rates. Other FX revaluations and other items amounted to SEK -52 m (161) and financial income amounted to SEK 82 m (25). Taxes totaled SEK -519 m (-611), corresponding to 29% (26%) of profit before tax. The increased tax rate was due to a country mix with more taxable profits in higher tax jurisdictions and increased non-tax deductible interest costs. The year to date tax rate of 29% is the estimated full year tax rate. Current tax amounted to SEK - 518 m (-933) and deferred tax to SEK -2 m (322). Paid tax was SEK -584 m (-576), corresponding to a paid tax rate of 32% (24%). Paid tax was impacted by deferred tax payments related to previous years. Profit for the period was SEK 1,281 (1,757). Earnings per share were SEK 4.01 (5.50). Adjusted earnings per share were SEK 5.26 (7.78). ===== SIDA 4 ===== DOMETIC Q3 REPORT ─ SOLNA, OCTOBER 26, 2023 │ 4 Operating cash flow was SEK 4,718 m (1,151). The improvement compared with the same period last year was mainly driven by reduced inventories. Cash flow was SEK 223 m (-459) supported by an improved operating cash flow. Net cash flow from investments was SEK -877 m (-1,016), of which SEK -525 m (-653) payments of deferred considerations for acquisitions completed previous years, and SEK -350 m (-371) investments in fixed assets. Net cash flow from financing was SEK -3,384 m (-388) including dividend paid SEK -415 m (-783) and the net of paid and received interest SEK -660 m (-416). Dometic has refinanced part of its credit facilities agreement with its bank group in the period. A floating rate term loan of USD 210 m, previously expiring in 2024, was replaced with a USD 220 m floating rate term loan with a 3- year maturity including two 1-year extension options. In the period Dometic has also signed and drawn down a 3.5 year floating rate term loan of USD 44 m with Svensk Exportkredit. In addition, a SEK 750 m private placement bond of 3.25 years, at a rate of 6.25%, was signed and drawn down in the period. A bond of EUR 300 m due in September 2023 was repaid using cash at hand. Financial position. Net debt to EBITDA leverage ratio was 2.9x (3.0x) at the end of the period. The ratio improved compared to 3.2x at the end of the second quarter 2023 driven by an improved operating cash flow. Return on Operating Capital (RoOC) excluding goodwill and trademarks was 20.3% (27.3%). Global restructuring programs. During the period total costs amounted to SEK -74 m (-479). Since the start, 24 sites and approximately 2,000 employees have been affected by the programs with a total cost of SEK -892 m. Employees. Number of employees in terms of headcount was 7,634 (8,366) at the end of the period. 2) before items affecting comparability ===== SIDA 5 ===== DOMETIC Q3 REPORT ─ SOLNA, OCTOBER 26, 2023 │ 5 FINANCIAL PERFORMANCE BY SEGMENT SEGMENT AMERICAS THIRD QUARTER 2023 NET SALES AND OPERATING PROFIT Segment Americas reported net sales of SEK 1,403 m (1,718), representing 21% (23%) of Group net sales. Total growth was -18%, of which -18% was organic growth, 0% currency translation and 0% M&A. The net sales decline was mainly in application areas Food & Beverage and Climate. The organic net sales decline was mainly due to lower RV OEM net sales. This was partly offset by Service & Aftermarket net sales growth. Operating profit (EBITA) before amortization of acquisition-related intangible assets and items affecting comparability was SEK 40 m (100), corresponding to a margin of 2.8% (5.8%). The decline was driven by the net sales reduction. This was partly offset by price management, efficiency improvements and a sales mix with a higher share of Service & Aftermarket net sales. Items affecting comparability totaled SEK -3 m (-10). Amortization of acquisition-related intangible assets totaled SEK -26 m (-31). Operating profit (EBIT) was SEK 10 m (59), corresponding to a margin of 0.7% (3.4%). SEGMENT EMEA THIRD QUARTER 2023 NET SALES AND OPERATING PROFIT Segment EMEA reported net sales of SEK 1,885 m (1,871), representing 28% (25%) of Group net sales. Total growth was 1%, of which -7% was organic growth, 8% currency translation and 0% M&A. The net sales growth was driven by application area Climate. The organic net sales decline was due to lower Service & Aftermarket and Distribution net sales. This was partly offset by stronger CPV OEM and RV OEM net sales. Operating profit (EBITA) before amortization of acquisition-related intangible assets and items affecting comparability was SEK 221 m (162), corresponding to a margin of 11.7% (8.6%). The improvement was driven by price management and efficiency improvements. EMEA continued to be negatively impacted by extraordinary logistics-related costs and inefficiencies in manufacturing, linked to the factory transfer from Germany to an existing site in Hungary. Items affecting comparability totaled SEK -25 m (-310). Amortization of acquisition-related intangible assets totaled SEK -18 m (-17). Operating profit (EBIT) was SEK 178 m (-166), corresponding to a margin of 9.4% (-8.8%). SEGMENT APAC THIRD QUARTER 2023 NET SALES AND OPERATING PROFIT Segment APAC reported net sales of SEK 536 m (567), representing 8% (7%) of Group net sales. Total growth was -5%, of which -5% was organic growth, 0% currency translation and 0% M&A. The net sales decline was mainly in application areas Food & Beverage and Climate. The organic net sales decline was mainly due to lower Distribution net sales, while net sales in the OEM sales channel showed organic growth. Operating profit (EBITA) before amortization of acquisition-related intangible assets and items affecting comparability was SEK 146 m (151), corresponding to a margin of 27.1% (26.6%). The improvement was driven by price management and efficiency improvements. Items affecting comparability totaled SEK 0 m (-4). Amortization of acquisition-related intangible assets totaled SEK -4 m (-5). Operating profit (EBIT) was SEK 141 m (142), corresponding to a margin of 26.3% (25.1%). Q3 Q3 YTD YTD SEK m 2023 2022 Reported Organic⁽¹⁾ 2023 2022 Reported Organic⁽¹⁾ Americas 1,403 1,718 -18% -18% 4,052 5,589 -27% -35% EMEA 1,885 1,871 1% -7% 6,482 6,368 2% -6% APAC 536 567 -5% -5% 1,558 1,626 -4% -7% Marine 1,593 1,828 -13% -15% 5,272 5,064 4% -2% Global 1,414 1,592 -11% -12% 5,084 4,945 3% -4% Net sales 6,830 7,576 -10% -12% 22,448 23,591 -5% -12% Americas 40 100 -47 390 EMEA 221 162 718 900 APAC 146 151 405 423 Marine 379 469 1,341 1,325 Global 188 174 580 463 Operating profit (EBITA⁽²⁾) before i.a.c.⁽³⁾ 973 1,057 2,997 3,501 Americas 2.8% 5.8% -1.2% 7.0% EMEA 11.7% 8.6% 11.1% 14.1% APAC 27.1% 26.6% 26.0% 26.0% Marine 23.8% 25.7% 25.4% 26.2% Global 13.3% 11.0% 11.4% 9.4% Operating profit (EBITA) before i.a.c. % 14.3% 14.0% 13.4% 14.8% Change (%) ⁽¹⁾Net sales growth excluding acquisitions /divestments and currency translation effects. ⁽²⁾Before Amortization of acquisition-related intangible assets. ⁽³⁾See note 4 for Operating profit (EBIT) by segment and note 6 for details on i.a.c. (items affecting comparabilty). Change (%) ===== SIDA 6 ===== DOMETIC Q3 REPORT ─ SOLNA, OCTOBER 26, 2023 │ 6 SEGMENT MARINE THIRD QUARTER 2023 NET SALES AND OPERATING PROFIT Segment Marine reported net sales of SEK 1,593 m (1,828), representing 23% (24%) of Group net sales. Total growth was -13%, of which -15% was organic growth, 2% currency translation and 0% M&A. The net sales decline was mainly in application area Power & Control. This was partly offset by growth in application area Climate. The organic net sales decline was due to lower OEM net sales while net sales in the Service & Aftermarket sales channel showed stable organic net sales. Operating profit (EBITA) before amortization of acquisition-related intangible assets and items affecting comparability was SEK 379 m (469), corresponding to a margin of 23.8% (25.7%). The decline was driven by the net sales reduction. This was partly offset by price management, efficiency improvements and a sales mix with a higher share of Service & Aftermarket net sales. Items affecting comparability totaled SEK 0 m (0). Amortization of acquisition-related intangible assets totaled SEK -52 m (-51). Operating profit (EBIT) was SEK 328 m (418), corresponding to a margin of 20.6% (22.9%). SEGMENT GLOBAL THIRD QUARTER 2023 NET SALES AND OPERATING PROFIT Segment Global consists of the Igloo business and Other global verticals. Other global verticals includes the businesses of Residential, Hospitality and Mobile deliveries. Segment Global reported net sales of SEK 1,414 m (1,592), representing 21% (21%) of Group net sales. Total growth was -11%, of which -12% was organic growth, 1% currency translation and 0% M&A. The organic net sales decline was related to the Igloo business while Other global verticals showed stable organic net sales. Operating profit (EBITA) before amortization of acquisition-related intangible assets and items affecting comparability was SEK 188 m (174), corresponding to a margin of 13.3% (11.0%). The improved margin was driven by Other global verticals while the margin for Igloo was on a par with the same period last year despite the lower net sales. Items affecting comparability totaled SEK -5 m (-1). Amortization of acquisition-related intangible assets totaled SEK -51 m (-52). Operating profit (EBIT) was SEK 132 m (121), corresponding to a margin of 9.3% (7.6%). ===== SIDA 7 ===== DOMETIC Q3 REPORT ─ SOLNA, OCTOBER 26, 2023 │ 7 SUSTAINABILITY UPDATE As a pioneer in the Mobile Living arena, Dometic is committed to driving sustainability in its industry. This means offering innovative, durable, low-carbon products that inspire an active, comfortable, and responsible life in the outdoors. Dometic also provides a safe, healthy, diverse, and inclusive workplace and ensures business practices meet the highest ethical standards. Dometic’s sustainability platform consists of three focus areas – People, Planet, Governance – with strong ownership in Group management and with clear KPIs, targets and activities implemented in daily operations. Progress on all defined targets is reported externally as part of the Annual and Sustainability Report. In addition, on four of the KPIs, progress is reported on a quarterly basis. Actual result, Baseline and Targets in the table below are excluding acquisitions in 2021 and 2022. The process of including acquired companies has started and actual result including acquisitions is included for some KPIs in the text below. LTIFR (Lost Time Injury Frequency Rate). The LTIFR for the third quarter 2023 was 1.9 (1.7) and better than the target of 2.0. The number of injuries have decreased compared to last year. The increase in LTIFR is due to less total worked hours in the Group, as a result of significantly fewer FTE’s. Including acquisitions in 2021 and 2022, the LTIFR actual result was 1.6. Efforts focusing on injury preventon continues throughout the organization to stay below the target of 2.0. Share of female managers. The share of female managers has increased to 28% (24%) and signifies the Dometic’s commitment to create a more equitable workplace. The result is supported by all segments dedicated efforts to promote gender diversity and inclusion, and efforts continue throughout the organization to further increase the proportion of female managers. Including acquisitions in 2021 and 2022, the share of female managers actual result was 28%. Reduction in CO2 ton4)/net sales SEK m. Emissions in relation to net sales has decreased by -46% (-34%) compared with the baseline year (2020). Further reductions during the third quarter was achieved through energy efficiency measures and transitioning to renewable electricity sources. Absolute CO2 emissions decreased by -39% compared with the baseline year, while the share of renewable indirect energy (scope 2) LTM (last twelve months) increased to 41% compared with 6% in the baseline year. Share of new suppliers being ESG audited. As of last year Dometic extended its proactive focus on supplier audits, ensuring that at least 90% of all new significant direct material suppliers are audited regarding ESG compliance. Year to date 2023, 98% (100%) of the new significant suppliers have been audited for ESG compliance with a satisfactory result. 4) Scope 1 and 2 emissions represented by fuel combustion, electricity and district heating used on operation sites. Focus area KPI Actual result Previous year⁽²⁾ Baseline (Year)⁽³⁾ Target 2024 People LTIFR 1.9 1.7 2.4 (2021) <2.0 People Share of female managers 28% 24% 24% (2021) 27% (increase 1% point per year) Planet Reduction in CO₂ ton / net sales SEK m⁽¹⁾ -46% -34% 2.0 (2020) -30% Governance Share of new suppliers being ESG audited 98% 100% n/a 90% ⁽²⁾ Previous year refers to actual results for the same reporting period previous year. ⁽¹⁾Adjusted for acquisitions and currency translation effects. ⁽³⁾Baseline refers to actual results (and year) used as starting point for Dometic's targets. ===== SIDA 8 ===== DOMETIC Q3 REPORT ─ SOLNA, OCTOBER 26, 2023 │ 8 PARENT COMPANY DOMETIC GROUP AB (PUBL) Third quarter 2023 The Parent Company Dometic Group AB (publ) comprises the functions of the Group’s head office, such as Group management and administration. The Parent Company invoices its costs to the Group companies. For the quarter, the Parent Company had an operating profit of SEK -1 m (7), including administrative expenses of SEK -61 m (-57) and other operating income of SEK 59 m (64), of which the full amount relates to income from Group companies. Profit from financial items totaled SEK 146 m (335), including interest income from Group companies of SEK 237 m (132) and other financial income and expenses of SEK -91 m (202). Other financial income and expenses were negative mainly due to decreased FX gain on intercompany receivables. Group contributions were SEK -145 m (-). Profit for the quarter amounted to SEK -8 m (342). First nine months 2023 For the period, the Parent Company had an operating profit of SEK -4 m (0), including administrative expenses of SEK -168 m (-195) and other operating income of SEK 164 m (195), of which the full amount relates to income from Group companies. Profit from financial items totaled SEK -560 m (641), including interest income from Group companies of SEK 659 m (304) and other financial income and expenses of SEK -1,220 m (338). Other financial income and expenses were negative mainly due to decreased FX gain on intercompany receivables. Group contributions were SEK 564 m (-). Profit for the period amounted to SEK -12 m (642). For further information, please refer to the Parent Company’s condensed financial statements on page 13. Solna, October 26, 2023 Juan Vargues President and CEO AUDITORS’ REVIEW REPORT (translation of Swedish original) Dometic Group AB (publ) reg. no. 556829-4390 Introduction We have reviewed the condensed interim financial information (interim report) of Dometic Group AB (publ) as of 30 September 2023 and the nine-month period then ended. The board of directors and the CEO are responsible for the preparation and presentation of the interim financial information in accordance with IAS 34 and the Swedish Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on our review. Scope of Review We conducted our review in accordance with the International Standard on Review Engagements ISRE 2410, Review of Interim Report 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 is substantially less in scope than an audit conducted in accordance with International Standards on Auditing, ISA, and other generally accepted auditing standards in Sweden. The procedures performed in a review do not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the interim report is not 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. Stockholm, October 26, 2023 PricewaterhouseCoopers AB Patrik Adolfson Anna Rozhdestvenskaya Authorized Public Accountant Authorized Public Accountant Auditor in charge ===== SIDA 9 ===== DOMETIC Q3 REPORT ─ SOLNA, OCTOBER 26, 2023 │ 9 ANNUAL GENERAL MEETING 2024 Dometic Group’s Annual General Meeting will be held on April 11, 2024, in Stockholm. NOMINATION COMMITTEE – ANNUAL GENERAL MEETING 2024 In accordance with the resolution adopted by the 2023 Annual General Meeting (AGM), the Nomination Committee ahead of the 2024 AGM shall be composed of the Chairman of the Board of Directors together with one representative from each of the three largest shareholders, based on the ownership structure at August 31, 2023. Further details about the Nomination Committee are available on the website. www.dometicgroup.com ===== SIDA 10 ===== DOMETIC Q3 REPORT ─ SOLNA, OCTOBER 26, 2023 │ 10 CONSOLIDATED INCOME STATEMENT CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Q3 Q3 YTD YTD FY SEK m 2023 2022 2023 2022 2022 Net sales 6,830 7,576 22,448 23,591 29,764 Cost of goods sold -4,747 -5,517 -16,103 -17,160 -21,883 Gross Profit 2,083 2,059 6,345 6,432 7,880 Sales expenses -540 -554 -1,694 -1,643 -2,185 Administrative expenses -377 -360 -1,174 -1,068 -1,376 Research and development expenses -145 -142 -449 -406 -531 Other operating income and expenses -48 54 -30 186 143 Items affecting comparability -33 -326 -94 -499 -532 Amortization of acquisition-related intangible assets -152 -156 -463 -449 -611 Operating profit 788 575 2,440 2,553 2,789 Financial income 48 6 82 25 45 Financial expenses -232 14 -722 -209 -396 Net financial expenses -184 20 -641 -184 -351 Profit before tax 604 595 1,800 2,368 2,438 Taxes -192 -159 -519 -611 -654 Profit for the period 412 436 1,281 1,757 1,784 Profit for the period attributable to owners of the Parent Company 412 436 1,281 1,757 1,784 Earnings per share before and after dilution, SEK - Owners of the Parent Company 1.29 1.36 4.01 5.50 5.58 Average number of shares, million 319.5 319.5 319.5 319.5 319.5 Q3 Q3 YTD YTD FY SEK m 2023 2022 2023 2022 2022 Profit for the period 412 436 1,281 1,757 1,784 Other comprehensive income Items that will not be reclassified subsequently to profit or loss: Remeasurements of defined benefit pension plans, net of tax 35 64 52 248 178 35 64 52 248 178 Items that may be reclassified subsequently to profit or loss: Cash flow hedges, net of tax 35 -41 20 -25 -73 Gains/losses from hedges of net investments in foreign operations, net of tax 156 540 -438 1,220 573 Exchange rate differences on translation of foreign operations -605 1,084 1,292 3,184 2,289 -415 1,583 874 4,379 2,788 Other comprehensive income for the period -380 1,647 926 4,627 2,966 Total comprehensive income for the period 33 2,083 2,206 6,384 4,751 Total comprehensive income for the period attributable to Owners of the Parent Company 33 2,083 2,206 6,384 4,751 ===== SIDA 11 ===== DOMETIC Q3 REPORT ─ SOLNA, OCTOBER 26, 2023 │ 11 CONSOLIDATED BALANCE SHEET (IN SUMMARY) SEK m Sep 30, 2023 Sep 30, 2022 Jun 30, 2023 Dec 31, 2022 ASSETS Non-current assets Goodwill and trademarks 28 795 30 456 29 200 28 107 Other intangible assets 7 462 8 147 7 670 7 580 Tangible assets 2 541 2 590 2 597 2 540 Right-of-use assets 1 213 1 051 1 300 972 Deferred tax assets 513 729 612 513 Other non-current assets 183 172 182 168 Total non-current assets 40 707 43 145 41 560 39 879 Current assets Inventories 7 751 10 090 8 418 9 314 Trade receivables 3 083 3 752 4 259 2 807 Current tax assets 117 42 124 109 Derivatives, current 57 239 160 147 Other current receivables 532 504 555 506 Prepaid expenses and accrued income 250 225 257 289 Cash and cash equivalents 4 633 4 093 6 614 4 399 Total current assets 16 423 18 945 20 387 17 572 TOTAL ASSETS 57 130 62 090 61 947 57 451 EQUITY AND LIABILITIES EQUITY 28 205 28 048 28 173 26 415 LIABILITIES Non-current liabilities Liabilities to credit institutions, non-current 17 066 15 560 17 284 15 304 Deferred tax liabilities 3 178 3 364 3 211 3 113 Other non-current liabilities 0 255 55 90 Leasing liabilities, non-current 966 817 1 036 740 Provisions for pensions 494 545 537 528 Other provisions, non-current 232 295 234 255 Total non-current liabilities 21 937 20 836 22 356 20 030 Current liabilities Liabilities to credit institutions, current 0 3 279 3 542 3 339 Trade payables 2 738 3 165 3 104 2 978 Current tax liabilities 238 869 296 296 Advance payments from customers 70 48 49 47 Leasing liabilities, current 379 361 398 351 Derivatives, current 116 191 112 111 Other provision, current 497 673 581 594 Other current liabilities* 1 417 3 047 1 655 1 919 Accrued expenses and prepaid income 1 533 1 574 1 680 1 371 Total current liabilities 6 988 13 206 11 418 11 007 TOTAL LIABILITIES 28 924 34 042 33 774 31 037 TOTAL EQUITY AND LIABILITIES 57 130 62 090 61 947 57 451 * As from Sep 30, 2022 Other current liabilities includes short-term deferred considerations not yet paid. ===== SIDA 12 ===== DOMETIC Q3 REPORT ─ SOLNA, OCTOBER 26, 2023 │ 12 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (IN SUMMARY) CONSOLIDATED STATEMENT OF CASH FLOW YTD YTD FY SEK m 2023 2022 2022 Opening balance for the period 26,415 22,447 22,447 Profit for the period 1,281 1,757 1,784 Other comprehensive income for the period 926 4,627 2,966 Total comprehensive income for the period 2,206 6,384 4,751 Transactions with owners Dividend paid to shareholders of the Parent Company -415 -783 -783 Total transactions with owners -415 -783 -783 Closing balance for the period 28,205 28,048 26,415 Q3 Q3 YTD YTD FY SEK m 2023 2022 2023 2022 2022 Cash flow from operating activities Operating profit 788 575 2,440 2,553 2,789 Adjustment for non-cash items Depreciation and amortization 383 384 1,132 1,076 1,477 Other non-cash items -46 360 174 605 421 Changes in working capital Changes in inventories 551 -62 1,864 -1,557 -1,247 Changes in trade receivables 1,079 904 -186 -557 231 Changes in trade payables -319 -1,136 -302 -538 -609 Changes in other working capital* -193 -72 -53 -60 -200 Income tax paid -176 -190 -584 -576 -991 Net cash flow from operations 2,067 764 4,484 946 1,869 Cash flow from investments Acquisition of operations, net of cash acquired* -107 -29 -525 -653 -847 Investments in fixed assets -118 -141 -350 -371 -593 Proceeds from sale of fixed assets 2 1 2 3 4 Other investing activities -1 5 -4 4 10 Net cash flow from investments -224 -164 -877 -1,016 -1,426 Cash flow from financing Borrowings from credit institutions - - 3,478 1,000 1,000 Repayment of loans to credit institutions -3,582 - -5,754 - - Payment of lease liabilities related to lease agreements -95 -85 -270 -245 -343 Paid interest -335 -222 -737 -419 -492 Received interest 47 2 77 3 3 Other financing activities 163 194 237 55 45 Dividend paid to shareholders of the Parent Company 0 - -415 -783 -783 Net cash flow from financing -3,803 -111 -3,384 -388 -570 Cash flow for the period -1,961 488 223 -459 -127 Cash and cash equivalents at beginning of period 6,614 3,585 4,399 4,408 4,408 Exchange differences on cash and cash equivalents -21 19 10 143 117 Cash and cash equivalents at end of period 4,633 4,093 4,633 4,093 4,399 *As from Q4 2022 the cash flow effect from paid deferred considerations is classified within Cash flow from investments on row Acquisition of operations, net of cash acquired. ===== SIDA 13 ===== DOMETIC Q3 REPORT ─ SOLNA, OCTOBER 26, 2023 │ 13 PARENT COMPANY INCOME STATEMENT PARENT COMPANY BALANCE SHEET (IN SUMMARY) Q3 Q3 YTD YTD FY SEK m 2023 2022 2023 2022 2022 Administrative expenses -61 -57 -168 -195 -228 Other operating income 59 64 164 195 225 Operating profit -1 7 -4 0 -3 Interest income from Group companies 237 132 659 304 509 Interest expenses to Group companies - - - - - Other financial income and expenses -91 202 -1,220 338 -503 Net financial expenses 146 335 -560 641 6 Group contributions -145 - 564 - - Profit before tax 0 342 0 642 3 Taxes -8 - -12 - -14 Profit for the period -8 342 -12 642 -11 SEK m Sep 30, 2023 Sep 30, 2022 Jun 30, 2023 Dec 31, 2022 ASSETS Non-current assets Shares in subsidiaries 16,228 16,228 16,228 16,228 Other non-current assets 6,575 13,371 4,916 12,521 Total non-current assets 22,803 29,599 21,144 28,749 Current assets Current assets 6,268 2,338 11,809 2,462 Total current assets 6,268 2,338 11,809 2,462 TOTAL ASSETS 29,071 31,937 32,953 31,212 EQUITY 11,633 12,712 11,640 12,060 PROVISIONS Provisions 99 111 92 104 Total provisions 99 111 92 104 LIABILITIES Non-current liabilities Non-current liabilities 17,066 18,837 17,284 15,304 Total non-current liabilities 17,066 18,837 17,284 15,304 Current liabilities Current liabilities 274 277 3,937 3,745 Total current liabilities 274 277 3,937 3,745 TOTAL LIABILITIES 17,438 19,225 21,313 19,152 TOTAL EQUITY AND LIABILITIES 29,071 31,937 32,953 31,212 ===== SIDA 14 ===== DOMETIC Q3 REPORT ─ SOLNA, OCTOBER 26, 2023 │ 14 CONDENSED NOTES NOTE 1 | ACCOUNTING PRINCIPLES Dometic Group AB (publ) and its subsidiaries (together “the Dometic Group”, “Dometic” or “the Group”) applies International Financial Reporting Standards (IFRS), as endorsed by the European Union. This consolidated Interim Financial Report has been prepared in accordance with IAS 34 ‘Interim Financial Reporting’. The accounting and valuation principles in this interim report correspond to principles applied by the Group in the 2022 Annual and Sustainability Report and should be read in conjunction with that Annual and Sustainability Report, available at www.dometicgroup.com. The Swedish Annual Accounts Act and RFR 2 Accounting for Legal Entities, issued by the Swedish Financial Reporting Board, have been applied for the Parent Company. The interim report comprises pages 1–21 and pages 1–13 are thus an integral part of this financial report (IAS 34.16A). Totals quoted in tables and statements may not always be the exact sum of the individual items because of rounding differences. The aim is for each line item to correspond to its source, and rounding differences may therefore arise. New or amended accounting policies for 2023 adopted by the Group A detailed description of the accounting and valuation principles for new or amended accounting policies for 2023 applied by the Group in this interim report can be found in Note 2.1.1 Changes in accounting policies, New or amended accounting policies for 2023, of the 2022 Annual and Sustainability Report available at www.dometicgroup.com. NOTE 2 | RISKS AND UNCERTAINTIES Risks are part of any business and as a global Group with production and distribution all over the world Dometic faces risks that can impact its ability to achieve established strategic and other objectives, including financial targets. Effective risk management of strategic, execution, compliance & regulatory and reporting risks creates opportunities and effective risk mitigation. Dometic’s risks and risk management are described on pages 63- 67 and on pages 94-97 in the 2022 Annual and Sustainability Report, available at www.dometicgroup.com. As communicated before, ACON, the seller of Igloo, has filed a lawsuit against Dometic in the fourth quarter 2022, making certain claims related to the Stock Purchase Agreement (“SPA”). Dometic is confident that the lawsuit lacks any merit, is vehemently contesting this lawsuit and has filed counterclaims against ACON related to its conduct under, and non-compliance with, the SPA. The parties are currently involved in the discovery process and trial is expected to take place in the first quarter, 2025. NOTE 3 | FINANCIAL INSTRUMENTS The Group uses currency forward contracts to hedge part of its exposure to forecasted purchases and sales in foreign currency as well as to hedge receivables and payables in foreign currency. The fair values of Dometic’s derivative assets and liabilities were SEK 57 m (239) and SEK 116 m (191). The value of derivatives is based on published prices in an active market. No transfers between levels of the fair value hierarchy have occurred during the period. For financial assets and liabilities other than derivatives, fair value is assumed to be equal to the carrying amount. TABLE TO NOTE 3 – FINANCIAL INSTRUMENTS Sep 30, 2023 Balance sheet carrying amount Financial instruments at amortized cost Financial instruments at fair value Derivatives used for hedging Per category Derivatives 57 - 5 52 Financial assets 8,430 8,430 - - Total financial assets 8,487 8,430 5 52 Derivatives 116 - 69 46 Financial liabilities 21,220 20,202 1,018 - Total financial liabilities 21,336 20,202 1,087 46 ===== SIDA 15 ===== DOMETIC Q3 REPORT ─ SOLNA, OCTOBER 26, 2023 │ 15 NOTE 4 | SEGMENT INFORMATION CONSOLIDATED OPERATING SEGMENTS Q3 Q3 YTD YTD FY SEK m 2023 2022 2023 2022 2022 Net sales, external Americas 1,403 1,718 4,052 5,589 6,780 EMEA 1,885 1,871 6,482 6,368 7,970 APAC 536 567 1,558 1,626 2,231 Marine 1,593 1,828 5,272 5,064 6,695 Global 1,414 1,592 5,084 4,945 6,086 Total net sales, external 6,830 7,576 22,448 23,591 29,764 Operating profit (EBITA) before items affecting comparability Americas 40 100 -47 390 330 EMEA 221 162 718 900 838 APAC 146 151 405 423 555 Marine 379 469 1,341 1,325 1,743 Global 188 174 580 463 464 Total operating profit (EBITA) before items affecting comparability 973 1,057 2,997 3,501 3,931 Operating profit (EBITA) before items affecting comparability % Americas 2.8% 5.8% -1.2% 7.0% 4.9% EMEA 11.7% 8.6% 11.1% 14.1% 10.5% APAC 27.1% 26.6% 26.0% 26.0% 24.9% Marine 23.8% 25.7% 25.4% 26.2% 26.0% Global 13.3% 11.0% 11.4% 9.4% 7.6% Total operating profit (EBITA) before items affecting comparability % 14.3% 14.0% 13.4% 14.8% 13.2% Amortization of acquisition-related intangible assets Americas -26 -31 -86 -87 -118 EMEA -18 -17 -56 -55 -74 APAC -4 -5 -15 -16 -21 Marine -52 -51 -157 -148 -202 Global -51 -52 -150 -144 -196 Total amortization of acqusition-related intangible assets -152 -156 -463 -449 -611 Items affecting comparability Americas -3 -10 -8 -145 -151 EMEA -25 -310 -68 -346 -370 APAC -0 -4 -3 -4 -4 Marine 0 -0 0 -1 -1 Global -5 -1 -15 -4 -7 Total items affecting comparability -33 -326 -94 -499 -532 Operating profit (EBIT) Americas 10 59 -141 158 61 EMEA 178 -166 594 499 394 APAC 141 142 387 403 531 Marine 328 418 1,184 1,177 1,541 Global 132 121 415 315 262 Total operating profit (EBIT) 788 575 2,440 2,553 2,789 Operating profit (EBIT) % Americas 0.7% 3.4% -3.5% 2.8% 0.9% EMEA 9.4% -8.8% 9.2% 7.8% 4.9% APAC 26.3% 25.1% 24.8% 24.8% 23.8% Marine 20.6% 22.9% 22.5% 23.2% 23.0% Global 9.3% 7.6% 8.2% 6.4% 4.3% Total operating profit (EBIT) % 11.5% 7.6% 10.9% 10.8% 9.4% Financial income 48 6 82 25 45 Financial expenses -232 14 -722 -209 -396 Taxes -192 -159 -519 -611 -654 Profit for the period 412 436 1,281 1,757 1,784 ===== SIDA 16 ===== DOMETIC Q3 REPORT ─ SOLNA, OCTOBER 26, 2023 │ 16 NET SALES BY APPLICATION AREAS Inter-segment sales were as follows. Q3 Q3 YTD YTD FY SEK m 2023 2022 2023 2022 2022 Segment Americas Food & Beverage 224 388 722 1,253 1,494 Climate 644 748 1,749 2,457 2,970 Power & Control 211 267 617 844 1,032 Other applications 324 316 964 1,035 1,284 Segment Americas net sales, external 1,403 1,718 4,052 5,589 6,780 Segment EMEA Food & Beverage 653 686 2,432 2,350 2,871 Climate 934 870 3,033 2,995 3,763 Power & Control 180 195 672 702 925 Other applications 117 121 346 322 412 Segment EMEA net sales, external 1,885 1,871 6,482 6,368 7,970 Segment APAC Food & Beverage 210 220 581 651 919 Climate 185 204 550 557 734 Power & Control 105 105 318 306 431 Other applications 35 38 110 111 147 Segment APAC net sales, external 536 567 1,558 1,626 2,231 Segment Marine Food & Beverage 37 54 138 170 217 Climate 368 326 1,185 916 1,262 Power & Control 872 1,073 3,060 2,982 3,939 Other applications 317 375 888 995 1,278 Segment Marine net sales, external 1,593 1,828 5,272 5,064 6,695 Segment Global Food & Beverage 1,387 1,572 5,007 4,884 6,009 Climate 1 1 4 3 4 Power & Control 0 2 1 3 3 Other applications 25 18 72 55 71 Segment Global net sales, external 1,414 1,592 5,084 4,945 6,086 Net sales, external Food & Beverage 2,512 2,920 8,880 9,308 11,509 Climate 2,132 2,148 6,521 6,928 8,732 Power & Control 1,369 1,641 4,667 4,837 6,331 Other applications 818 867 2,379 2,518 3,191 Total net sales, external 6,830 7,576 22,448 23,591 29,764 Q3 Q3 YTD YTD FY SEK m 2023 2022 2023 2022 2022 Segment Americas 52 48 166 126 170 Segment EMEA 63 86 186 282 340 Segment APAC 647 700 1,952 2,722 3,316 Segment Marine 6 13 26 40 49 Segment Global - - - - - Eliminations 767 847 2,329 3,169 3,875 ===== SIDA 17 ===== DOMETIC Q3 REPORT ─ SOLNA, OCTOBER 26, 2023 │ 17 NOTE 5 | NET SALES BY SALES CHANNEL NOTE 6 | ITEMS AFFECTING COMPARABILITY The table below specifies items affecting comparability by function and other operating income and expenses. Q3 Q3 YTD YTD SEK m 2023 2022 Reported Organic⁽¹⁾ 2023 2022 Reported Organic⁽¹⁾ Net sales, external OEM 2,828 3,281 -14% -16% 9,278 10,037 -8% -14% Distribution 1,952 2,198 -11% -13% 7,010 7,096 -1% -8% Service & Aftermarket 2,051 2,097 -2% -5% 6,160 6,459 -5% -12% Total net sales, external 6,830 7,576 -10% -12% 22,448 23,591 -5% -12% ⁽¹⁾Net sales growth excluding acquisitions /divestments and currency translation effects. Change (%) Change (%) Q3 Q3 YTD YTD FY SEK m 2023 2022 2023 2022 2022 Global restructuring program -25 -329 -74 -479 -499 Other -9 4 -20 -20 -33 Total -33 -326 -94 -499 -532 Global restructuring program Q3 Q3 YTD YTD FY SEK m 2023 2022 2023 2022 2022 Cost of goods sold -17 -327 -62 -471 -476 Sales expenses -6 -3 -8 -3 -3 Administrative expenses -2 -1 -2 -1 -8 Research and development expenses - - - - -11 Other operating income and expenses 1 2 -2 -3 -2 Total -25 -329 -74 -479 -499 Other Q3 Q3 YTD YTD FY SEK m 2023 2022 2023 2022 2022 Cost of goods sold -1 - -1 - - Sales expenses 1 4 2 -18 -21 Administrative expenses - - - - -1 Research and development expenses - - - - - Other operating income and expenses -9 -1 -21 -2 -11 Total -9 4 -20 -20 -33 Total Q3 Q3 YTD YTD FY SEK m 2023 2022 2023 2022 2022 Cost of goods sold -18 -327 -63 -471 -476 Sales expenses -5 1 -6 -22 -24 Administrative expenses -2 -1 -2 -1 -8 Research and development expenses - - - - -11 Other operating income and expenses -8 1 -23 -5 -13 Total -33 -326 -94 -499 -532 ===== SIDA 18 ===== DOMETIC Q3 REPORT ─ SOLNA, OCTOBER 26, 2023 │ 18 NOTE 7 | AMORTIZATION OF ACQUISITION-RELATED INTANGIBLE ASSETS BY FUNCTION The table below specifies amortization of acquisition-related intangible assets by function and other operating income and expenses. NOTE 8 | ADJUSTED EARNINGS PER SHARE Specification of Adjusted earnings per share. Adjusted earnings per share excludes the impact from amortization of acquisition-related intangible assets and items affecting comparability. NOTE 9 | NET DEBT TO EBITDA LEVERAGE RATIO Specification of Net debt to EBITDA leverage ratio. SEK m Amortization Trademarks Amortization of Customer Relationship Assets Amortization of Technology Amortization of Intellectual Property Total Q3 2023 - - -19 1 -18 Q3 2022 - - -20 -0 -20 YTD 2023 - - -55 -2 -57 YTD 2022 - - -55 -1 -56 FY 2022 - - -74 -1 -75 Q3 2023 -15 -119 - - -134 Q3 2022 -23 -113 - - -136 YTD 2023 -58 -348 - - -406 YTD 2022 -67 -326 - - -393 FY 2022 -91 -444 - - -535 Q3 2023 -15 -119 -19 1 -152 Q3 2022 -23 -113 -20 -0 -156 YTD 2023 -58 -348 -55 -2 -463 YTD 2022 -67 -326 -55 -1 -449 FY 2022 -91 -444 -74 -1 -611 Sales expenses Cost of goods sold Total Amortization of acquisition-related intangible assets Q3 Q3 YTD YTD FY SEK m 2023 2022 2023 2022 2022 Profit before tax, reported 604 595 1,800 2,368 2,438 A) Adjustment for amortization of acquisition-related intangible assets 152 156 463 449 611 B) Adjustment for items affecting comparability 33 326 94 499 532 Profit before tax, adjusted 789 1,077 2,357 3,316 3,581 Taxes, reported -192 -159 -519 -611 -654 Taxes, adjustment for A) and B) -50 -109 -157 -220 -270 Profit for the period, adjusted 548 809 1,681 2,485 2,658 Average number of shares 319.5 319.5 319.5 319.5 319.5 Earnings per share, adjusted 1.71 2.53 5.26 7.78 8.32 SEK m Sep 30, 2023 Sep 30, 2022 Jun 30, 2023 Dec 31, 2022 Liabilities to credit institutions, non-current 17,066 15,560 17,284 15,304 Liabilities to credit institutions, current 0 3,279 3,542 3,339 Add back capitalized transaction costs 47 47 53 41 Liabilities to credit institutions excluding capitalized transaction costs 17,113 18,886 20,879 18,683 Total cash and cash equivalents -4,633 -4,093 -6,614 -4,399 Net Debt 12,480 14,794 14,265 14,284 EBITDA before items affecting comparability (i.a.c) LTM 4,335 4,936 4,415 4,797 EBITDA Acquisitions proforma LTM - 56 - 10 EBITDA before i.a.c. incl acquisitions proforma LTM 4,335 4,992 4,415 4,807 Net debt to EBITDA leverage ratio 2.9x 3.0x 3.2x 3.0x ===== SIDA 19 ===== DOMETIC Q3 REPORT ─ SOLNA, OCTOBER 26, 2023 │ 19 NOTE 10 | RIGHT-OF-USE ASSETS Right-of-use assets information is specified below: NOTE 11 | TRANSACTIONS WITH RELATED PARTIES No transactions between Dometic and related parties that have significantly affected the company’s position and earnings took place during the first nine months 2023. NOTE 12 | ACQUISITIONS AND DIVESTMENTS 2023 Dometic has not made any acquisitions or divestments during the first nine months 2023. Effect on group cash flow As from Q4 2022 the cash flow effect from paid deferred considerations is classified within Cash flow from investments on row Acquisition of operations, net of cash acquired. Cash flow effects from paid deferred consideration on previous acquisitions amounts SEK -525 m for the first nine months 2023. 2022 Acquisitions during the year The purchase price allocation of Cadac International, NDS Energy and Treeline Capital are considered to be final. Effect on group cash flow Effect on group cash flow amounts to SEK -653 m for the first nine months 2022. See the Annual and Sustainability Report 2022 note 29 for details on acquisitions completed in 2022. NOTE 13 | SIGNIFICANT EVENTS AFTER THE PERIOD Anders Fransson joined Dometic on October 1, 2023 as new Head of Dometic Group Operations and Sustainability. Peter Jannerö, who has been interim CMO since February 1, 2023, was appointed CMO for Dometic Group on October 1, 2023. There have been no other significant events that have impacted the financial reporting after the balance sheet date. Depreciation & amortization Q3 Q3 YTD YTD FY SEK m 2023 2022 2023 2022 2022 Depreciation and amortization -383 -384 -1,132 -1,076 -1,477 Add back depreciation related to right-of-use assets 97 82 280 240 338 Total -286 -301 -852 -836 -1,138 Right-of-use assets SEK m Buildings 1,153 975 903 Machinery, equipment and other technical installations 60 76 69 Total 1,213 1,051 972 Sep 30, 2023 Sep 30, 2022 Dec 31, 2022 Acquisition Date of announcement Included and controlled from Segment Previous year net sales⁽¹⁾ Number of employees⁽¹⁾ Cadac International Sept 16, 2021 Jan 4, 2022 EMEA 17 MEUR 40 NDS Energy Nov 11, 2021 Feb 1, 2022 EMEA 11 MUSD 25 Treeline Capital LLC March 2, 2022 March 2, 2022 Marine 16 MUSD 70 ⁽¹⁾Annual net sales and number of employees as disclosed in the press release when announced. ===== SIDA 20 ===== DOMETIC Q3 REPORT ─ SOLNA, OCTOBER 26, 2023 │ 20 RECONCILIATION OF NON-IFRS MEASURES TO IFRS (ALTERNATIVE PERFORMANCE MEASURES) Dometic presents some financial measures in this interim report, which are not defined by IFRS. Dometic believes that these measures provide valuable additional information to investors and management for evaluating the Group’s financial performance, financial position and trends in the operations. It should be noted that these measures, as defined, may not be comparable to similarly titled measures used by other compan ies. These non-IFRS measures should not be considered as substitutes for financial reporting measures prepared in accordance with I FRS. See Dometic’s website www.dometicgroup.com for the detailed reconciliation. Adjusted earnings per share Net profit for the period, excluding the impact from amortization of acquisition -related intangible assets and items affecting comparability, divided by average number of shares. See note 8. Core working capital Consists of inventories and trade receivables less trade payables. EBITDA and EBITDA margin Operating profit (EBIT) before Depreciation and Amortization. Depreciation also includes depreciation of right-of- use assets in accordance with IFRS 16 Leases. Divided by net sales gives corresponding margin EBITA and EBITA margin Operating profit (EBIT) before Amortization of acquisition -related intangible assets. Divided by net sales gives corresponding margin. EBITA bef i.a.c. and EBITA bef i.a.c. margin Operating profit (EBIT) before Amortization of acquisition -related intangible assets and items affecting comparability. Divided by net sales gives corresponding margin Net debt Total borrowings including provisions for pensions, accrued interest and capitalized transaction costs, less cash and cash equivalents. Net debt to EBITDA leverage ratio Net debt excluding provisions for pensions, accrued interest and capitalized transaction costs in relation to last twelve months EBITDA before items affecting comparability and including acquisitions proforma. Any cash deposits with tax authorities are treated as cash in the leverage calculation. See note 9. Operating cash flow Cash flow from operations after investments in fixed assets excluding income tax paid. Paid interest/received interest is part of net cash flow from financing. Organic growth Net sales growth excluding acquisitions/divestments and currency translation eff ects. Quarters are calculated at comparable currency, applying the latest period average rate. RoOC – Return on Operating Capital Operating profit (EBIT) for the four previous quarters, divided by the average operating capital for the previous four quarters, excluding goodwill and trademarks. DEFINITIONS AND KEY RATIOS Capital expenditure Expenses related to the purchase of tangible and intangible assets. CO2 ton / net sales SEK m CO2 emissions from own operations (scope 1 and 2) divided by currency adjusted net sales. Rolling 12 months with one month delay in reporting. Scope 1 = energy from fuel combustion used at operation sites (factories, warehouses, distribution centers), Scope 2 = electricity and district heating used at operation sites. Excludes acquisitions made in 2021 and 2022. CPV Commercial and Passenger Vehicles. EPS – Earnings per share Net profit for the period divided by average number of shares. FY 2022 Full Year. January to December 2022 for Income statement. i.a.c. – items affecting comparability Items affecting comparability are events or transactions with significant financial effects, which are relevant for understanding the financial performance when comparing profit for the current period with previous periods. Items included are for example restructuring programs, expenses related to major revaluations, gains and losses from acquisitions or disposals of subsidiaries, or transaction costs related to major mergers and acquisitions. Interest-bearing debt Liabilities to credit institutions plus liabilities to related parties plus provisions for pensions. LTIFR Lost Time Injury Frequency Rate. Work related accidents with lost time >=1 day per million working hours. Rolling twelve months with 1 months delay in reporting. Excludes acquisitions made in 2021 and 2022. LTM Last twelve months. Net profit Profit (loss) for the period. OCI Other Comprehensive Income. OEM Original Equipment Manufacturers. Operating capital excluding goodwill and trademarks Interest-bearing debt plus equity less cash and cash equivalents, excluding goodwill and trademarks. Operating profit (EBIT) and corresponding margin Operating profit (EBIT) before financial items and taxes. Divided by net sales gives corresponding margin. Q3 2023 and Q3 2022 July to September 2023 and 2022 for Income Statement. RV Recreational Vehicles. Share of female managers Percentage of female managers in the company at the end of each period. Excludes acquisitions made in 2021 and 2022. During 2022 there was a delay of one quarter in the reporting of actual results, this has been adjusted. Share of new suppliers being ESG audited Percentage of new significant direct material suppliers that have been ESG audited (on-site, remote or 3rd party audits), with one month delay in reporting. Measuring period to be included as a new supplier is January 1, 2022 until end of 2024. Excludes acquisitions made in 2021 and 2022. Working capital Core working capital plus other current assets less other current liabilities and provisions relating to operations. YTD 2023 and 2022 January-September 2023 and 2022 for Income Statement ===== SIDA 21 ===== DOMETIC Q3 REPORT ─ SOLNA, OCTOBER 26, 2023 │ 21 PRESENTATION OF THE INTERIM REPORT Analysts and media are invited to participate in a telephone conference at 10.00 (CEST), October 26 , 2023, during which President and CEO, Juan Vargues and CFO, Stefan Fristedt, will present the report and answer questions. To participate in the webcast/telephone conference, please dial in five minutes prior to the start of the conference call. The webcast URL and presentation are available at www.dometicgroup.com. Webcast link: https://dometic.videosync.fi/2023-10-26-q3-2023/register To participate in conference call to ask questions Those who wish to participate in the conference call to ask questions in connection with the webcast are welcome to register on the link below. After the registration you will be provided phone numbers and a conference ID to access the conference. Registration link: https://events.inderes.se/teleconference/?id=100376 FOR FURTHER INFORMATION, PLEASE CONTACT Rikard Tunedal Head of Investor Relations Phone: +46 730 56 97 35 E-mail: rikard.tunedal@dometic.com Dometic Group AB (publ) Hemvärnsgatan 15 SE-171 54 Solna, Sweden Phone: +46 8 501 025 00 www.dometic.com Corporate registration number 556829-4390 This information is information that Dometic Group 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 08:00 CEST on October 26, 2023. This document is a translation of the Swedish version of the interim report. In the event of any discrepancy, the Swedish wording shall prevail. ABOUT DOMETIC Dometic is a global market leader in the mobile living industry. Millions of people around the world use Dometic products in Outdoor, Residential, and Professional applications. Our motivation is to create smart, sustainable, and reliable products with outstanding design for an outdoor and mobile lifestyle in the areas of Food & Beverage, Climate, Power & Control, and Other Applications. Dometic employs approximately 8,500 people worldwide, had net sales of SEK 29.8 billion in 2022 and is headquartered in Solna, Sweden. DISCLAIMER Some statements herein are forward-looking and the actual outcome could be materially different. In addition to the factors explicitly commented upon, the actual outcome could be materially affected by other factors, (a) changes in economic, market and competitive conditions, (b) success of busine ss and operating initiatives, (c) changes in the regulatory environment and other government actions, (d) fluctuations in exchange rates and (e) business risk management. FINANCIAL CALENDAR January 31, 2024 April 11, 2024 April 19, 2024 July 18, 2024 October 23, 2024 Q4 and full year report 2023 Annual General Meeting 2024 Interim report for the first quarter 2024 Interim report for the second quarter 2024 Interim report for the third quarter 2024