===== SIDA 1 ===== Interim report Third quarter November–January 2025/26 A solid quarter with significant impact from currency and restructuring Third quarter • In constant exchange rates, net sales increased by 2 percent mainly driven by Europe and China. Reported sales in SEK decreased by 10 percent amounting to SEK 4,239 M (4,695). • The book-to-bill ratio was 1.17 (1.15), supported by strong order intake in China, U.S. and Europe. • Third quarter was impacted by a SEK 417 M restructuring charge related to change of the operating model, which is expected to reduce the cost base by more than SEK 500 M annually. • Higher adjusted gross margin of 38.3 percent (37.1) driven by product launches and improved pricing. • Tariff costs and changes in FX had a negative impact of 100 and 130 basis points respectively on the gross margin. • Adjusted EBIT amounted to SEK 504 M (548), resulting in a margin of 11.9 percent (11.7). The positive effect from the gross margin was partly offset by higher amortization and a lower capitalization level. • Net income was SEK 12 M (336) and basic earnings per share was SEK 0.03 (0.89). • Cash flow after continuous investments declined to SEK 255 M (730) in Q3 partly due to severance payments and lower contribution from working capital, while YTD amounted to SEK 251 M ( -192). 1 Compared to last fiscal year based on constant exchange rates. 2 Adjusted gross margin = Gross margin excluding items affecting comparability, see page 28. 3 Adjusted EBITDA = EBITDA excluding items affecting comparability, see page 28. 4 Adjusted EBIT = Operating income (EBIT) excluding items affecting comparability, see page 29. 5 Adjusted earnings per share = Net income excluding items affecting comparability, attributable to Parent Company shareholders, in relation to the weighted average number of shares (excluding treasury shares), see page 30. Group Summary SEK M 2025/26 2024/25 Δ 2025/26 2024/25 Δ Book-to-bill 1.17 1.15 1% 1.08 1.08 -1% Net sales 4,239 4,695 -10% 11,955 12,860 -7% Net sales in constant exchange rates 2% 1 2% 1 Adjusted gross margin 2 38.3% 37.1% 1,3 ppts 37.8% 36.8% 1 ppts Adjusted EBITDA 3 820 886 -7% 2,093 2,231 -6% Adjusted EBITDA margin 3 19.3% 18.9% 0,5 ppts 17.5% 17.3% 0,2 ppts Adjusted EBIT 4 504 548 -8% 1,150 1,254 -8% Adjusted EBIT margin 4 11.9% 11.7% 0,2 ppts 9.6% 9.8% -0,1 ppts Gross margin 35.1% 36.9% -1,8 ppts 36.5% 36.5% 0 ppts EBITDA 403 866 -53% 1,639 2,094 -22% EBITDA margin 9.5% 18.4% -8,9 ppts 13.7% 16.3% -2,6 ppts EBIT 87 525 -83% 696 1,087 -36% EBIT margin 2.0% 11.2% -9,1 ppts 5.8% 8.5% -2,6 ppts Net income 12 336 -97% 346 621 -44% Cash flow after continuous investments 255 730 -475 251 -192 443 Adjusted earnings per share before/after dilution, SEK 5 0.88 / 0.88 0.94 / 0.94 -7% 1.83 / 1.83 1.97 / 1.97 -7% Earnings per share before/after dilution, SEK 0.03 / 0.03 0.89 / 0.89 -97% 0.91 / 0.91 1.63 / 1.63 -44% Q3 First nine months ===== SIDA 2 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 2 Net sales at constant exchange rates grew by 2 percent primarily driven by growth in Europe and China. The book-to-bill ratio ended at 1.17, supported by China, the U.S and Europe. Actions are progressing according to plan to reset Elekta’s operating model, aimed at simplifying and decentralizing the organization, and consequently improving our cost base by more than SEK 500 M with the expected full run-rate impact starting in Q1 2026/27. Third quarter summary Net sales in Q3, at constant exchange rates, increased by 2 percent year-over-year, driven by continued positive momentum in Europe, as well as China’s return to growth for the first time since Q3 2023/24. The book-to-bill ratio reached 1.17, supported by strong order intake in China and the U.S., as well as service orders in Europe. The adjusted gross margin in Q3 improved year-over-year to 38.3 percent (37.1). The increase was mainly supported by product launches and improved pricing. The strengthening of the Swedish krona against major currencies and the depreciation of the U.S. dollar had an increasingly negative impact during the quarter, reducing gross margin by 130 basis points year-over- year. Adjusted EBIT margin for the third quarter ended at 11.9 percent (11.7) . The improvement was primarily driven by a higher gross margin and lower R&D spend while increased amortization and lower capitalization of R&D weighed negatively by 150 basis points in total year-over-year on the EBIT margin. Year-to-date operating cash flow after continuous investments amounted to SEK 251 M, representing an improvement of SEK 443 M compared with last year despite severance payments related to the change of operating model. Value creation through speed and continuous improvement As previously communicated, Elekta has defined four priority areas, our Must-Win Battles, that will drive value creation through increased speed and continuous improvement. Through Must- Win Battle 1, we are implementing a new operating model aimed at simplifying and decentralizing the organization. As a result, we expect to achieve more than SEK 500 M in annualized cost savings, with the full effect realized in Q1 2026/27. The implementation of the new operating model is progressing well, with more than 80 percent of the planned workforce reductions already completed. With Must-Win Battle 2, Focused Innovation, we aim to improve returns on R&D investment by sharpening our focus on projects that address commercial demand and shape the future of radiation therapy through our focus on adaptive treatments. Winning in the U.S. and expanding in China are the priority areas included in Must-Win Battle 3. In the U.S., the launch of Evo and Elekta ONE have strengthened our product offering across hardware, software, and service with continued strong interest from customers. Expanding our presence in China represents the second pillar of this Must-Win Battle. To strengthen our competitiveness, we are further deepening the localization of Elekta’s portfolio and supply chain. We have maintained our market-leading position through a period of declining demand, and as the market begins to recover, we expect to see operating leverage from the Chinese business. Must-Win Battle 4 focuses on reducing cost of goods sold and reinforcing our ambition to expand the gross margin, thereby freeing up resources for continued innovation. Key initiatives include introducing dual sourcing and cost efficient suppliers, deploying AI-tools to support field service engineers, improving order fulfillment efficiency, and simplifying installation and serviceability. Outlook We reiterate our full-year 2025/26 outlook, where we expect net sales in constant currency to grow year-over-year. Furthermore, we expect continuous negative impact on earnings from FX at current exchange rates and tariffs. On June 17, we will host a Capital Markets Day in Stockholm. Jakob Just-Bomholt President and CEO “More than 80 percent of the planned workforce reductions already completed” >80 percent completed ===== SIDA 3 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 3 Financial highlights Net sales • 2 percent increase in constant exchange rates – driven by Europe and China • Continued strong momentum for Elekta Evo and Elekta ONE • Book-to-bill ratio of 1.17 (1.15) and the rolling twelve months ended at 1.09 (1.09) Based on constant exchange rates, Elekta’s net sales increased by 2 percent in the third quarter. The development was mainly driven by growth in Europe and China while U.S. sales declined. Reported net sales decreased by 10 percent amounting to SEK 4,239 M (4,695). Sales in EMEA increased by 8 percent in constant exchange rates compared to last year. The development was mainly driven by continued strong momentum in Europe supported by new product launches. APAC sales increased year-over-year by 3 percent in constant exchange rates mainly driven by China returning to growth for the first time since Q3 2023/24. Americas’ sales declined by 6 percent in constant exchange rates compared to last year. South America showed growth, which however was fully offset by lower sales in North America where U.S. volumes declined mainly as a result of customers awaiting the Elekta Evo clearance which was received on January 16, 2026. In constant exchange rates, Solutions increased sales by 1 percent and Service by 3 percent. Book-to-bill development The book-to-bill ratio was 1.17 (1.15) in the third quarter, supported by strong order intake in China and the U.S., as well as Service orders in Europe. The twelve-month rolling figure ended at 1.09 (1.09). Gross order intake in the third quarter amounted to SEK 4,956 M (5,418), an increase by 3 percent in constant exchange rates and a decrease of 9 percent in SEK. For more information about the book-to-bill ratio, see page 31. Sales per region Sales per product type 1 Based on constant exchange rates SEK M 2025/26 2024/25 Δ1 Δ 2025/26 2024/25 Δ1 Δ Americas 1,094 1,359 -6% -20% 3,195 3,812 -6% -16% EMEA 1,654 1,655 8% 0% 4,791 4,566 11% 5% APAC 1,491 1,681 3% -11% 3,969 4,483 -1% -11% Group 4,239 4,695 2% -10% 11,955 12,860 2% -7% Q3 First nine months SEK M 2025/26 2024/25 Δ1 Δ 2025/26 2024/25 Δ1 Δ Solutions 2,396 2,673 1% -10% 6,405 7,046 -1% -9% Service 1,843 2,022 3% -9% 5,551 5,814 5% -5% Group 4,239 4,695 2% -10% 11,955 12,860 2% -7% Q3 First nine months ===== SIDA 4 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 4 FINANCIAL HIGHLIGHTS Earnings • Adjusted gross margin improved to 38.3 (37.1) percent driven by product launches and improved pricing • Adjusted EBIT margin improved to 11.9 (11.7) percent • The quarter was negatively impacted by a restructuring charge amounting to SEK 417 M Gross income development In the third quarter, the adjusted gross income was SEK 1,625 M (1,740), representing an adjusted gross margin of 38.3 percent (37.1). The increase was mainly supported by product launches and improved pricing. Tariff costs and the strengthening of the Swedish krona against major currencies as well as the depreciation of the U.S. dollar had a negative impact of 100 and 130 basis points respectively, corresponding to a total amount of SEK 312 M. Reported gross income amounted to SEK 1,489 M (1,734), representing a margin of 35.1 percent (36.9). EBIT development Adjusted EBIT came in at SEK 504 M (548), representing a margin of 11.9 percent (11.7). The higher adjusted EBIT margin derived mainly from the gross margin, lower R&D spend and lower administrative expenses. The positive development was partly offset by higher amortization of intangible assets and a lower R&D capitalization level. Amortization and capitalization changes corresponded to 150 basis points in total year-over-year. Reported EBIT amounted to SEK 87 M (525), representing a margin of 2.0 percent (11.2). Items affecting comparability (IAC) in the third quarter mainly consisted of restructuring costs related to Must-Win Battle 1 amounting to SEK 417 M (23), whereof SEK 137 M (6) impacted the gross margin. Net income development Net financial items decreased to SEK -86 M (-95), mainly explained by lower interest net. Taxes amounted to SEK 10 M (-95), representing a positive tax rate in the quarter, primarily due to one-off tax effects. Net income amounted to SEK 12 M (336) and earnings per share to SEK 0.03 (0.89) before and after dilution. SEK M 2025/26 2024/25 Δ 2025/26 2024/25 Δ Net sales 4,239 4,695 -10% 11,955 12,860 -7% Net sales in constant currency 2% 2% Adjusted gross income 1,625 1,740 -7% 4,516 4,735 -5% Adjusted gross margin 38.3% 37.1% 1,3 ppts 37.8% 36.8% 1 ppts Adjusted EBIT 504 548 -8% 1,150 1,254 -8% Adjusted EBIT margin 11.9% 11.7% 0,2 ppts 9.6% 9.8% -0,1 ppts EBIT 87 525 -83% 696 1,087 -36% EBIT margin 2.0% 11.2% -9,1 ppts 5.8% 8.5% -2,6 ppts Net income 12 336 -97% 346 621 -44% Earnings per share 0.03 0.89 -97% 0.91 1.63 -44% Q3 First nine months ===== SIDA 5 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 5 FINANCIAL HIGHLIGHTS Earnings Items affecting comparability Items affecting comparability (IAC) of SEK 417 M (23) consisted of restructuring costs mainly related to the change of the operating model, Must-Win Battle 1, which is expected to reduce the cost base by more than SEK 500 M on an annualized base, with the full effect realized in Q1 2026/27. Restructuring costs for Must-Win Battle 1 are expected to be between SEK 450-500 M during the second half of fiscal year 2025/26. Employees The average number of employees on January 31, 2026, was 4,438 (4,541). Shares Total number of registered shares on January 31, 2026, was 383,568,409, of which 14,980,769 were A-shares and 368,587,640 B-shares. On January 31, 2026, 1,485,289 shares were treasury shares held by Elekta. Earnings per share was SEK 0.03 (0.89) before and after dilution. ===== SIDA 6 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 6 Cash flow and financial position • Cash flow after continuous investments ended at SEK 255 M (730) and YTD SEK 251 M (-192) • Working capital as a percentage of rolling twelve months net sales improved to -9 percent (-7) • Net debt decreased to SEK 3,819 M (4,039). Cash flow Cash flow after continuous investments amounted to SEK 255 M (730). The decreased cash flow is partly due to severance payments and lower contribution from working capital in the quarter. However, the year-to-date cash flow improved by SEK 443 M compared to the same period last year. Net working capital as a percentage of rolling twelve-months net sales improved to -9 percent (-7). Investments in intangible assets declined to SEK 246 M (321) and were mainly related to lower R&D investments in new product solutions and software. Investments in tangible assets decreased to SEK 33 M (45). Cash conversion in the third quarter was 132 percent (126). Cash flow (extract) Financial position Cash and cash equivalents and short-term investments amounted to SEK 2,541 M (3,583). Interest-bearing liabilities, excluding lease liabilities, including derivatives, amounted to SEK 6,360 M (7,622). Net debt decreased to SEK 3,819 M (4,039). Net debt in relation to EBITDA was 1.35 (1.34). The average maturity of interest-bearing liabilities was 2.6 years (3.1). Net debt 1 EBITDA 12 months rolling SEK M 2025/26 2024/25 2025/26 2024/25 EBITDA 403 866 1,639 2,094 Change in w orking capital 284 387 34 -567 Financial net -86 -95 -249 -291 Paid tax -139 -97 -345 -297 Other 71 34 5 119 Cash flow from operating activities 533 1,095 1,084 1,058 Continuous investments -278 -366 -833 -1,250 Cash flow after continuous investments 255 730 251 -192 Operational cash conversion 132% 126% 66% 51% Q3 First nine months Jan 31 Jan 31 Apr 30 SEK M 2026 2025 2025 Long-term interest-bearing liabilities 4,458 6,291 6,195 Short-term interest-bearing liabilities 1,818 1,330 178 Derivatives, net 84 1 48 -2,541 -3,583 -2,955 Net debt 3,819 4,039 3,465 Long-term lease liabilities 788 1,018 961 Short-term lease liabilities 220 223 233 4,827 5,280 4,658 Net debt/EBITDA ratio 1 1.35 1.34 1.06 Cash and cash equivalents and short-term investments Net debt including lease liabilities ===== SIDA 7 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 7 Other information Risk and uncertainties Elekta’s presence in many geographical markets exposes the Group to political and economic risks on a global scale and/or in individual countries. For more details, please see the Annual Report 2024/25, page 25. Forward looking statements This is information such that Elekta AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by the below mentioned contact persons at 07:30 CET on March 5, 2026. This report includes forward-looking statements including, but not limited to, statements relating to operational and financial performance, market conditions, and other similar matters. These forward- looking statements are based on current expectations about future events. Although the expectations described in these statements are assumed to be reasonable, there is no guarantee that such forward-looking statements will materialize or are accurate. Since these statements involve assumptions and estimates that are subject to risks and uncertainties, results could differ materially from those set out in the statement. Some of these risks and uncertainties are described further in the section “Risk and uncertainties”. Elekta undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law or stock exchange regulations. Parent company The financial net increased mainly due to higher dividends from subsidiaries. SEK 1,150 M of interest- bearing liabilities have been reclassified to current liabilities. Significant events Elekta receives FDA 510(k) clearance for Elekta Evo linear accelerator On January 16, Elekta announced that its Elekta Evo CT-Linac has received 510(k) clearance from the U.S. Food and Drug Administration (FDA). This milestone makes the system available to radiation oncology professionals in the United States. Elekta appoints Tomas Eliasson as Vice Chair of the Board On January 23, Elekta announced that its Board of Directors has resolved to establish the role “Vice Chair of the Board” and to appoint Tomas Eliasson to such role, effective immediately. Elekta presents Strategic Update: growth, innovation, and operations On January 30, Elekta hosted its Strategic Update for investors, providing an overview of the company’s strategic direction and ongoing transformation. The event, led by CEO Jakob Just-Bomholt and senior leaders Anming Gong, Head of Region China; Ardie Ermers, Head of Region Americas; and Christopher Busch, Chief Product and Technology Officer, underscored Elekta’s commitment to delivering value for shareholders, customers and patients. Significant events after the quarter No significant events after the quarter. ===== SIDA 8 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 8 Shareholder information Conference call Q3 Elekta will host a web conference at 09:00-10:00 CET on March 5 with President and CEO Jakob Just- Bomholt, and CFO Tobias Hägglöv. To take part in the presentation please dial the numbers or watch via the web link below. Sweden: +46 (0) 8 5051 0031 UK: +44 (0) 207 107 06 13 US: +1 (1) 631 570 56 13 For further information, please contact: Tobias Hägglöv CFO +46 76 107 4799 tobias.hagglov@elekta.com Peter Nyquist Head of Investor Relations +46 70 575 2906 peter.nyquist@elekta.com Financial calendar Year-end report, Q4, May-Apr 2025/26 May 28, 2026 Interim report, Q1, May-Jul 2026/27 Aug 27, 2026 Annual General Meeting 2026 Sep 3, 2026 Interim report, Q2, May-Oct 2026/27 Nov 25, 2026 Web link > ===== SIDA 9 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 9 Stockholm, March 5, 2026 Jakob Just-Bomholt President and CEO This report has not been reviewed by the Company’s auditors. ===== SIDA 10 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 10 Consolidated income statement – condensed SEK M Note 2025/26 2024/25 2025/26 2024/25 RTM 2024/25 Net sales 2 4,239 4,695 11,955 12,860 17,111 18,016 Cost of products sold -2,751 -2,961 -7,588 -8,167 -10,690 -11,270 Gross income 1,489 1,734 4,368 4,693 6,421 6,746 Selling expenses -487 -411 -1,246 -1,239 -1,657 -1,650 Administrative expenses -392 -354 -1,058 -1,050 -1,420 -1,412 R&D expenses -522 -443 -1,394 -1,300 -2,770 -2,676 Other operating income and expenses -25 -15 -44 -52 -100 -108 Exchange rate differences 25 15 70 35 25 -9 Operating income (EBIT) 87 525 696 1,087 498 890 Financial items, net -86 -95 -249 -291 -358 -400 Income after financial items 1 431 447 797 140 490 Income tax 10 -95 -101 -175 -175 -250 Net income for the period 3 12 336 346 621 -35 240 Net income for the period attributable to: Parent Company shareholders 10 341 346 623 -40 237 Non-controlling interests 2 -5 0 -2 5 4 Earnings per share Before dilution, SEK 0.03 0.89 0.91 1.63 -0.10 0.62 After dilution, SEK 0.03 0.89 0.91 1.63 -0.10 0.62 First nine months 12 monthsQ3 ===== SIDA 11 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 11 Consolidated statement of comprehensive income SEK M 2025/26 2024/25 2025/26 2024/25 RTM 2024/25 Net income for the period 12 336 346 621 -35 240 Other comprehensive income: Items that w ill not be reclassified to the income statement: Remeasurements of defined benefit pension plans 0 - 0 - 1 1 Tax 0 - 0 - -3 -3 Total items that will not be reclassified to the income statement 0 - 0 - -2 -2 Items that subsequently may be reclassified to the income statement: Revaluation of cash flow hedges 56 -108 21 -75 190 94 Translation differences from foreign operations -539 104 -736 -104 -2,017 -1,385 Tax -12 22 -4 15 -39 -19 Total items that subsequently may be reclassified to the income statement -494 19 -720 -164 -1,866 -1,310 Other comprehensive income for the period -494 19 -720 -164 -1,868 -1,312 Total comprehensive income for the period -483 355 -373 458 -1,902 -1,072 Comprehensive income attributable to: Parent Company shareholders -483 357 -371 457 -1,900 -1,072 Non-controlling interests 0 -3 -2 1 -3 0 Q3 12 monthsFirst nine months ===== SIDA 12 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 12 Consolidated balance sheet statement – condensed Apr 30 SEK M Note 2026 2025 2025 Non-current assets Intangible assets 11,372 13,907 11,917 Right-of-use assets 844 1,070 1,006 Tangible assets 781 1,046 901 Financial assets 732 981 895 Deferred tax assets 919 943 841 Total non-current assets 14,648 17,946 15,560 Current assets Inventories 3,019 3,229 2,756 Accounts receivable 3,772 4,109 3,625 Accrued income 1,756 1,902 2,261 Other current receivables 1,943 2,184 1,820 Cash and cash equivalents 2,541 3,583 2,955 Total current assets 13,030 15,007 13,417 Total assets 27,678 32,953 28,977 Equity attributable to Parent Company shareholders 7,969 10,784 8,803 Non-controlling interests 43 46 45 Total equity 8,012 10,830 8,848 Non-current liabilities Interest-bearing liabilities 4 4,458 6,291 6,195 Lease liabilities 788 1,018 961 Other non-current liabilities 667 694 626 Total non-current liabilities 5,913 8,004 7,781 Current liabilities Interest-bearing liabilities 4 1,818 1,330 178 Lease liabilities 220 223 233 Accounts payable 1,489 1,556 1,837 Advances from customers 4,282 4,614 4,067 Prepaid income 2,529 3,022 2,831 Accrued expenses 2,149 2,201 2,245 Other current liabilities 1,266 1,174 957 Total current liabilities 13,753 14,120 12,348 Total equity and liabilities 27,678 32,953 28,977 Jan 31 ===== SIDA 13 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 13 Changes in consolidated equity – condensed Apr 30 SEK M 2025/26 2024/25 2024/25 Attributable to Parent Company shareholders Opening balance 8,803 10,774 10,774 Comprehensive income for the period -371 457 -1,072 Incentive programs -4 12 18 Dividend -458 -458 -917 Total 7,969 10,784 8,803 Attributable to non-controlling interests Opening balance 45 5 5 Comprehensive income for the period -2 1 0 Acquisition of non-controlling interest - 40 40 Total 43 46 45 Closing balance 8,012 10,830 8,848 Jan 31 ===== SIDA 14 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 14 Consolidated cash flow statement - condensed SEK M 2025/26 2024/25 2025/26 2024/25 RTM 2024/25 Income after financial items 1 431 447 797 140 490 Amortization and depreciation 316 338 943 977 1,265 1,299 Impairment - 3 - 31 1,064 1,094 Interest net 69 85 236 262 356 382 Other non-cash items 71 33 -6 99 159 263 Interest received and paid -69 -84 -225 -243 -370 -388 Income taxes paid -139 -97 -345 -297 -360 -311 Operating cash flow 249 708 1,050 1,625 2,254 2,829 Change in inventories -3 173 -375 24 -74 325 Change in operating receivables -294 -134 160 -459 -37 -657 Change in operating liabilities 581 349 249 -131 509 128 Change in working capital 284 387 34 -567 398 -203 Cash flow from operating activities 533 1,095 1,084 1,058 2,652 2,626 Investments in intangible assets -246 -321 -750 -1,079 -1,041 -1,370 Investments in tangible assets -33 -45 -83 -171 -112 -200 Continuous investments -278 -366 -833 -1,250 -1,153 -1,570 Cash flow after continuous investments 255 730 251 -192 1,499 1,056 Business combinations, dividends and investments associated companies - -5 1 -102 1 -102 Cash flow after investments 255 725 252 -294 1,500 954 Dividends - - -458 -458 -917 -917 Cash flow from other financing activities -248 -511 -186 1,496 -1,372 310 Cash flow for the period 7 214 -392 744 -789 347 Change in cash and cash equivalents during the period Cash and cash equivalents at the beginning of the period 2,576 3,352 2,955 2,779 3,583 2,779 Cash flow for the period 7 214 -392 744 -789 347 Exchange rate differences -42 17 -23 60 -253 -170 Cash and cash equivalents at the end of the period 2,541 3,583 2,541 3,583 2,541 2,955 12 monthsFirst nine monthsQ3 ===== SIDA 15 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 15 Parent company Income statement and statement of comprehensive income - condensed SEK M 2025/26 2024/25 Operating income and expenses -58 -4 Financial net 314 284 Income after financial items 256 280 Tax 5 12 Net income for the period 261 292 Statement of comprehensive income Net income for the period 261 292 Other comprehensive income - - Total comprehensive income 261 292 Balance sheet - condensed Jan 31 Apr 30 SEK M 2026 2025 Non-current assets Intangible assets 11 14 Shares in subsidiaries 4,733 4,530 Receivables from subsidaries 1,657 1,676 Other financial assets 47 36 Deferred tax assets 47 33 Total non-current assets 6,495 6,289 Current assets Receivables from subsidaries 3,229 3,811 Other current receivables 100 76 Cash and cash equivalents 1,638 1,360 Total current assets 4,967 5,247 Total assets 11,462 11,536 Shareholders' equity 1,489 1,685 Non-current liabilities Interest-bearing liabilities 4,560 6,248 Provisions 14 13 Total non-current liabilities 4,574 6,261 Current liabilities Interest-bearing liabilities 1,649 - Liabilities to Group companies 3,515 3,462 Short-term provisions 24 9 Other current liabilities 211 119 Total current liabilities 5,399 3,590 Total shareholders' equity and liabilities 11,462 11,536 First nine months ===== SIDA 16 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 16 Key figures and data per share 1 Attributable to Parent Company shareholders. 1 Number of registered shares at closing excluding treasury shares (1,485,289 per January 31, 2026). Key figures 2020/21 2021/22 2022/23 2023/24 2024/25 2024/25 2025/26 Gross order intake, SEK M 17,411 18,364 20,143 19,697 19,718 13,926 12,875 Net sales, SEK M 13,763 14,548 16,869 18,119 18,016 12,860 11,955 Gross margin, % 40.8 37.4 37.6 37.4 37.4 36.5 36.5 Adjusted gross margin, % 40.8 37.4 38.1 37.5 37.8 36.8 37.8 Operating income (EBIT), SEK M 1,906 1,643 1,431 2,039 890 1,087 696 Operating margin, % 13.9 11.3 8.5 11.3 4.9 8.5 5.8 Adjusted EBIT, SEK M 1,906 1,643 1,743 2,145 2,097 1,254 1,150 Adjusted EBIT margin, % 13.9 11.3 10.3 11.8 11.6 9.8 9.6 Shareholders' equity, SEK M 1 8,197 8,913 9,729 10,774 8,803 10,784 7,969 Return on shareholders' equity, % 16 14 10 13 2 10 0 Net debt, SEK M 774 1,532 2,442 3,150 3,465 4,039 3,819 Operational cash conversion, % 82 69 76 77 80 51 66 Average number of employees 4,194 4,631 4,587 4,607 4,536 4,541 4,438 Full-year May - Jan Data per share 2020/21 2021/22 2022/23 2023/24 2024/25 2024/25 2025/26 Earnings per share before dilution, SEK 3.28 3.02 2.47 3.41 0.62 1.63 0.91 after dilution, SEK 3.28 3.02 2.47 3.41 0.62 1.63 0.91 Adjusted earnings per share before dilution, SEK 3.28 3.02 3.11 3.62 3.08 1.97 1.83 after dilution, SEK 3.28 3.02 3.10 3.62 3.08 1.97 1.83 Cash flow per share before dilution, SEK 5.05 0.55 0.91 1.41 2.50 -0.77 0.66 after dilution, SEK 5.05 0.55 0.91 1.41 2.50 -0.77 0.66 Shareholders' equity per share before dilution, SEK 21.45 23.33 25.46 28.20 23.04 28.22 20.86 after dilution, SEK 21.45 23.33 25.44 28.20 23.04 28.22 20.85 Average number of shares before dilution, thousands 382,083 382,083 382,083 382,083 382,083 382,083 382,083 after dilution, thousands 382,083 382,083 382,367 382,086 382,139 382,086 382,219 Number of shares at closing 1 before dilution, thousands 382,083 382,083 382,083 382,083 382,083 382,083 382,083 after dilution, thousands 382,083 382,083 382,575 382,086 382,135 382,092 382,219 Full-year May - Jan ===== SIDA 17 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 17 Note 1 – Accounting principles This interim report is prepared, with regards to the Group, according to IAS 34 and the Swedish Annual Accounts Act and, with regards to the Parent Company, according to the Swedish Annual Accounts Act and RFR 2. The accounting principles applied are consistent with those presented in Note 1 of the Annual Report 2024/25. New or revised standards and interpretations, not yet applied, are not considered to have a material impact on the Elekta Group´s financial statements. All figures are stated in SEK M and, accordingly, rounding differences can occur. Comparisons refer to the corresponding period for the prior year, unless otherwise stated. Definitions and Alternative performance measures can be found on pages 102-105 in the Annual Report 2024/25. Related party transactions Related party transactions are described in note 37 in the Annual Report for 2024/25. Related party transactions during the year are consistent with those described in the Annual Report for 2024/25. Exchange rates For Group companies with a functional currency other than Swedish kronor, order intake and income statements are translated at average exchange rates for the reporting period, while balance sheets are translated at closing exchange rates. 1 January 31, 2026, vs January 31, 2025. Data per quarter SEK M Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Gross order intake 4,433 6,436 4,192 4,317 5,418 5,792 3,838 4,081 4,956 Net sales 4,537 5,023 3,825 4,341 4,695 5,156 3,646 4,070 4,239 Operating income (EBIT) 485 617 174 388 525 -197 219 390 87 Cash flow from operating activities 1,072 1,317 -493 456 1,095 1,568 -86 637 533 2023/24 2025/262024/25 R&D expenditure SEK M 2025/26 2024/25 2025/26 2024/25 RTM 2024/25 R&D expenditure, gross 571 571 1,574 1,735 2,057 2,217 Capitalization -226 -301 -698 -933 -972 -1,207 Amortization 177 175 517 494 686 663 Impairment - -1 - 3 999 1,002 R&D expenditure, net 522 443 1,394 1,300 2,770 2,676 Q3 First nine months 12 months Country Currency Apr 30 2026 2025 Δ1 2026 2025 2025 Δ1 China 1 CNY 1.327 1.480 -10% 1.273 1.524 1.328 -16% Euroland 1 EUR 10.979 11.474 -4% 10.552 11.481 10.977 -8% Great Britain 1 GBP 12.689 13.638 -7% 12.171 13.726 12.924 -11% Japan 1 JPY 0.063 0.070 -10% 0.057 0.071 0.068 -20% United States 1 USD 9.455 10.664 -11% 8.848 11.051 9.651 -20% Closing rate May - Jan Average rate Jan 31 ===== SIDA 18 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 18 Note 2 – Net sales by product type In general, net sales from Solutions is taken at a point in time, net sales from Service is taken over time. Q3 2025/26 SEK M Americas EMEA APAC Group total Solutions 430 923 1,044 2,396 Service 664 732 448 1,843 Total 1,094 1,654 1,491 4,239 Q3 2024/25 SEK M Americas EMEA APAC Group total Solutions 566 925 1,182 2,673 Service 793 729 499 2,022 Total 1,359 1,655 1,681 4,695 First nine months 2025/26 SEK M Americas EMEA APAC Group total Solutions 1,197 2,577 2,631 6,405 Service 1,999 2,214 1,338 5,551 Total 3,195 4,791 3,969 11,955 First nine months 2024/25 SEK M Americas EMEA APAC Group total Solutions 1,539 2,429 3,078 7,046 Service 2,273 2,137 1,404 5,814 Total 3,812 4,566 4,483 12,860 Rolling twelve months SEK M Americas EMEA APAC Group total Solutions 1,838 3,842 3,910 9,591 Service 2,728 2,963 1,830 7,520 Total 4,566 6,805 5,740 17,111 Full year 2024/25 SEK M Americas EMEA APAC Group total Solutions 2,181 3,694 4,358 10,232 Service 3,002 2,886 1,896 7,784 Total 5,183 6,580 6,253 18,016 ===== SIDA 19 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 19 Note 3 – Segment reporting Elekta applies geographical segmentation. Net sales and contribution margin for the respective regions are reported to Elekta’s CEO (chief operating decision maker). The regions’ expenses are directly attributable to the respective regions’ reported figures including cost of products sold. Global costs for R&D, marketing, management of product supply centers and Parent Company are not allocated per region. Currency exposure is concentrated to product supply centers. The majority of exchange differences in operations are reported in global costs. Elekta’s operations are characterized by significant quarterly variations in volumes and product mix, which have a direct impact on net sales and profits. This is accentuated when the operation is split into segments, as is the impact of currency fluctuations between the years. In general, revenue from Solutions is recognized at a point in time and revenue from Service is recognized over time. 1 Items affecting comparability include mainly personnel costs and impairment of assets. Q3 2025/26 SEK M Americas EMEA APAC Other / Group-wide Group total % of net sales Net sales 1,094 1,654 1,491 - 4,239 Operating expenses -692 -986 -979 - -2,658 63% Contribution margin 401 668 512 - 1,581 37% Contribution margin, % 37% 40% 34% Global costs - - - -1,078 -1,078 25% Adjusted EBIT 401 668 512 -1,078 504 12% Items affecting comparability1 -22 -19 -22 -354 -417 Operating income (EBIT) 379 649 490 -1,432 87 2% Net financial items - - - -86 -86 Income after financial items 379 649 490 -1,517 1 Income tax - - - 10 10 Net income for the period 379 649 490 -1,507 12 Q3 2024/25 SEK M Americas EMEA APAC Other / Group-wide Group total % of net sales Net sales 1,359 1,655 1,681 - 4,695 Operating expenses -798 -1,065 -1,122 - -2,985 64% Contribution margin 561 590 559 - 1,710 36% Contribution margin, % 41% 36% 33% Global costs - - - -1,162 -1,162 25% Adjusted EBIT 561 590 559 -1,162 548 12% Items affecting comparability1 -10 -1 0 -12 -23 Operating income (EBIT) 551 589 559 -1,174 525 11% Net financial items - - - -95 -95 Income after financial items 551 589 559 -1,269 431 Income tax - - - -95 -95 Net income for the period 551 589 559 -1,364 336 ===== SIDA 20 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 20 1 Items affecting comparability include mainly personnel costs and impairment of assets. First nine months 2025/26 SEK M Americas EMEA APAC Other / Group-wide Group total % of net sales Net sales 3,195 4,791 3,969 - 11,955 Operating expenses -2,059 -2,945 -2,587 - -7,591 63% Contribution margin 1,136 1,846 1,382 - 4,364 37% Contribution margin, % 36% 39% 35% Global costs - - - -3,214 -3,214 27% Adjusted EBIT 1,136 1,846 1,382 -3,214 1,150 10% Items affecting comparability1 -29 -21 -23 -382 -454 Operating income (EBIT) 1,107 1,825 1,360 -3,596 696 6% Net financial items - 437 - -686 -249 Income after financial items 1,107 2,262 1,360 -4,282 447 Income tax - - - -101 -101 Net income for the period 1,107 2,262 1,360 -4,383 346 First nine months 2024/25 SEK M Americas EMEA APAC Other / Group-wide Group total % of net sales Net sales 3,812 4,566 4,483 - 12,860 Operating expenses -2,299 -3,036 -2,925 - -8,260 64% Contribution margin 1,513 1,529 1,557 - 4,600 36% Contribution margin, % 40% 33% 35% Global costs - - - -3,346 -3,346 26% Adjusted EBIT 1,513 1,529 1,557 -3,346 1,254 10% Items affecting comparability1 -24 -6 -9 -127 -167 Operating income (EBIT) 1,489 1,523 1,548 -3,473 1,087 8% Net financial items - - - -291 -291 Income after financial items 1,489 1,523 1,548 -3,764 797 Income tax - - - -175 -175 Net income for the period 1,489 1,523 1,548 -3,939 621 Rolling twelve months SEK M Americas EMEA APAC Other / Group-wide Group total % of net sales Net sales 4,566 6,805 5,740 - 17,111 Operating expenses -2,976 -4,155 -3,682 - -10,813 63% Contribution margin 1,590 2,650 2,058 - 6,298 37% Contribution margin, % 35% 39% 36% Global costs - - - -4,305 -4,305 25% Adjusted EBIT 1,590 2,650 2,058 -4,305 1,993 12% Items affecting comparability1 -26 -27 -23 -1,419 -1,494 Operating income (EBIT) 1,564 2,623 2,036 -5,724 498 3% Net financial items - 437 - -795 -358 Income after financial items 1,564 3,060 2,036 -6,519 140 Income tax - - - -175 -175 Net income for the period 1,564 3,060 2,036 -6,694 -35 Full year 2024/25 SEK M Americas EMEA APAC Other / Group-wide Group total % of net sales Net sales 5,183 6,580 6,253 - 18,016 Operating expenses -3,216 -4,247 -4,020 - -11,482 64% Contribution margin 1,967 2,333 2,233 - 6,534 36% Contribution margin, % 38% 35% 36% Global costs - - - -4,437 -4,437 25% Adjusted EBIT 1,967 2,333 2,233 -4,437 2,097 12% Items affecting comparability1 -21 -12 -9 -1,164 -1,207 Operating income (EBIT) 1,946 2,321 2,224 -5,601 890 5% Net financial items - - - -400 -400 Income after financial items 1,946 2,321 2,224 -6,001 490 Income tax - - - -250 -250 Net income for the period 1,946 2,321 2,224 -6,251 240 ===== SIDA 21 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 21 Note 4 – Financial instruments The table below shows the fair value of the Group’s financial instruments, for which fair value is different than carrying value. The fair value of all other financial instruments is assumed to correspond to the carrying value. The Group’s financial assets and financial liabilities, which have been measured at fair value, have been categorized in the fair value hierarchy. The different levels are defined as follows: Level 1: Quoted prices on an active market for identical assets or liabilities Level 2: Other observable data than quoted prices included in Level 1, either directly (that is, price quotations) or Indirectly (that is, obtained from price quotations) Level 3: Data not based on observable market data SEK M Carrying amount Fair value Carrying amount Fair value Carrying amount Fair value Long-term interest-bearing liabilities 4,458 4,707 6,291 6,624 6,195 6,505 Short-term interest-bearing liabilities 1,818 1,836 1,330 1,337 178 178 Apr 30, 2025Jan 31, 2026 Jan 31, 2025 Financial instruments measured at fair value SEK M Level Jan 31, 2026 Jan 31, 2025 Apr 30, 2025 FINANCIAL ASSETS Financial assets measured at fair value through income statement: Derivative financial instruments – non-hedge accounting 2 73 20 33 Derivatives used for hedging purposes: Derivative financial instruments – hedge accounting 2 213 43 174 Total financial assets measured at fair value 285 63 207 FINANCIAL LIABILITIES Financial liabilities at fair value through income statement: Derivative financial instruments – non-hedge accounting 2 207 50 79 Contingent considerations 3 74 92 75 Derivatives used for hedging purposes: Derivative financial instruments – hedge accounting 2 69 90 51 Total financial liabilities measured at fair value 350 231 205 ===== SIDA 22 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 22 The fair value of accounts receivables, other current and non-current receivables, cash and cash equivalents, accounts payable and other current and non-current liabilities is estimated to be equal to their carrying amount. Movements financial instruments level 3 SEK M Jan 31, 2026 Jan 31, 2025 Apr 30, 2025 Opening balance 75 76 76 Business combinations - 50 48 Payments - -43 -43 Reported in net income for the period 2 2 1 Translation differences -3 7 -6 Closing balance 74 92 75 ===== SIDA 23 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 23 Alternative performance measures Alternative Performance Measures (APMs) are measures and key figures that Elekta’s management and other stakeholders use when managing and analysing Elekta’s business performance. These measures are not substitutes, but rather supplements to financial reporting measures prepared in accordance with IFRS. Key figures and other APMs used by Elekta are defined on ir.elekta.com/investors/financials. Definitions and additional information on APMs can also be found on pages 102-105 in the Annual Report 2024/25. Sales growth based on constant exchange rates per region Sales growth based on constant exchange are, to a large extent, reported in subsidiaries with other functional currencies than SEK, which is the group reporting currency. In order to present sales growth on a more comparable basis and to show the impact of currency fluctuations, sales growth based on constant exchange rates are presented. The schedules below present growth based on constant exchange rates reconciled to the total growth reported in accordance with IFRS. % SEK M % SEK M % SEK M % SEK M Q3 2025/26 vs. Q3 2024/25 Change based on constant exchange rates -6 -84 8 131 3 44 2 92 Currency effects -13 -182 -8 -131 -14 -234 -12 -548 Reported change -20 -266 0 0 -11 -190 -10 -456 Q3 2024/25 vs. Q3 2023/24 Change based on constant exchange rates -7 -107 5 78 6 97 2 68 Currency effects 2 32 2 27 2 31 2 90 Reported change -5 -74 7 104 8 129 3 158 May - Jan 2025/26 vs. May - Jan 2024/25 Change based on constant exchange rates -6 -221 11 501 -1 -53 2 227 Currency effects -10 -396 -6 -276 -10 -460 -9 -1,132 Reported change -16 -617 5 225 -11 -513 -7 -905 May - Jan 2024/25 vs. May - Jan 2023/24 Change based on constant exchange rates -1 -39 -4 -191 3 133 -1 -96 Currency effects -2 -59 -1 -25 -1 -57 -1 -140 Reported change -2 -97 -5 -215 2 76 -2 -236 Americas EMEA APAC Group total ===== SIDA 24 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 24 Sales growth based on constant exchange rates per product Sales growth based on constant exchange are, to a large extent, reported in subsidiaries with other functional currencies than SEK, which is the group reporting currency. In order to present sales growth on a more comparable basis and to show the impact of currency fluctuations, sales growth based on constant exchange rates are presented. The schedules below present growth based on constant exchange rates reconciled to the total growth reported in accordance with IFRS. % SEK M % SEK M % SEK M Q3 2025/26 vs. Q3 2024/25 Change based on constant exchange rates 1 30 3 62 2 92 Currency effects -11 -307 -12 -241 -12 -548 Reported change -10 -277 -9 -179 -10 -456 Q3 2024/25 vs. Q3 2023/24 Change based on constant exchange rates -4 -113 10 181 2 68 Currency effects 2 44 3 46 2 90 Reported change -3 -69 13 228 3 158 May - Jan 2025/26 vs. May - Jan 2024/25 Change based on constant exchange rates -1 -42 5 268 2 227 Currency effects -9 -600 -9 -532 -9 -1,132 Reported change -9 -641 -5 -263 -7 -905 May - Jan 2024/25 vs. May - Jan 2023/24 Change based on constant exchange rates -6 -457 7 361 -1 -96 Currency effects -1 -70 -1 -70 -1 -140 Reported change -7 -527 5 290 -2 -236 Solutions Service Total sales ===== SIDA 25 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 25 Change of expenses Management reviews the development of expenses excluding items affecting comparability in constant currencies. The schedule below illustrates the reported change in expenses for items affecting comparability and the remaining change split between change based on constant exchange rates and change due to currency movements. EBITDA EBITDA is used for the calculation of operational cash conversion and the net debt/EBITDA ratio. % SEK M % SEK M % SEK M % SEK M Q3 2025/26 vs. Q3 2024/25 Change in items affecting comparability 29 115 20 68 18 79 22 263 Change based on constant exchange rates 2 7 -2 -8 11 51 4 49 Currency effects -11 -46 -6 -22 -12 -51 -10 -120 Reported change 19 76 11 38 18 79 16 192 Q3 2024/25 vs. Q3 2023/24 Change in items affecting comparability 0 0 0 1 -1 -4 0 -4 Change based on constant exchange rates 9 34 -3 -12 28 92 11 114 Currency effects 2 8 6 19 4 14 4 41 Reported change 12 42 2 8 30 102 15 152 May - Jan 2025/26 vs. May - Jan 2024/25 Change in items affecting comparability 9 113 4 39 2 29 5 181 Change based on constant exchange rates 0 -1 1 10 14 177 5 186 Currency effects -9 -106 -4 -41 -9 -111 -7 -258 Reported change 1 7 1 8 8 94 3 109 May - Jan 2024/25 vs. May - Jan 2023/24 Change in items affecting comparability 0 -1 3 29 5 54 3 81 Change based on constant exchange rates 2 28 0 -3 19 196 7 220 Currency effects -1 -18 2 21 0 0 0 4 Reported change 1 9 5 46 24 250 9 305 Selling expenses Administrative expenses R&D expenses Change expenses SEK M Q3 2024/25 Q4 2024/25 Q1 2025/26 Q2 2025/26 Q3 2025/26 Operating income (EBIT) 525 -197 219 390 87 Amortization intangible assets: Capitalized development costs 179 172 172 176 180 Assets relating to other intangibles 45 41 34 33 33 Depreciation tangible assets 114 109 107 106 104 Impairment 3 1,064 - - - EBITDA 866 1,189 532 704 403 ===== SIDA 26 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 26 Return on shareholders’ equity Return on shareholders’ equity measures the return generated on shareholders’ capital invested in the company. Operational cash conversion Cash flow is a focus area for management. The operational cash conversion shows the relation between cash flow from operating activities and EBITDA. Working capital In order to optimize cash generation, management focuses on working capital and reducing lead times between orders booked and cash received. SEK M Q3 2024/25 Q4 2024/25 Q1 2025/26 Q2 2025/26 Q3 2025/26 Net income (12 months rolling) 1,037 237 273 291 -40 Average shareholders' equity excluding non-controlling interests (last five quarters) 10,585 10,297 9,959 9,508 9,018 Return on shareholders' equity 10% 2% 3% 3% 0% SEK M Q3 2024/25 Q4 2024/25 Q1 2025/26 Q2 2025/26 Q3 2025/26 Cash flow from operating activities 1,095 1,568 -86 637 533 EBITDA 866 1,189 532 704 403 Operational cash conversion 126% 132% -16% 91% 132% Jan 31 Jan 31 Apr 30 SEK M 2026 2025 2025 Working capital assets Inventories 3,019 3,229 2,756 Accounts receivable 3,772 4,109 3,625 Accrued income 1,756 1,902 2,261 Other operating receivables 1,330 1,641 1,308 Sum working capital assets 9,877 10,881 9,950 Working capital liabilities Accounts payable 1,489 1,556 1,837 Advances from customers 4,282 4,614 4,067 Prepaid income 2,529 3,022 2,831 Accrued expenses 2,149 2,201 2,245 Short-term provisions 419 140 148 Other current liabilities 576 645 516 Sum working capital liabilities 11,444 12,178 11,644 Net working capital -1,567 -1,298 -1,694 % of rolling 12 months net sales -9% -7% -9% ===== SIDA 27 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 27 Net debt and net debt/EBITDA ratio Net debt is important for understanding the financial stability of the company. Net debt and net debt/EBITDA ratio are used by management to track the debt evolvement, the refinancing need and the leverage for the Group. Items affecting comparability by segment and nature of expense The costs are adjusted in order to track the underlying profitability of the Group’s products and services. The costs include mainly personnel costs and impairments of assets attributable to the Cost-reduction Initiative and the R&D impairment cost SEK M Jan 31, 2025 Apr 30, 2025 Jul 31, 2025 Oct 31, 2025 Jan 31, 2026 Long-term interest-bearing liabilities 6,291 6,195 5,708 5,647 4,458 Short-term interest-bearing liabilities 1,330 178 868 865 1,818 Derivatives, net 1 48 47 72 84 Cash and cash equivalents and short-term investments -3,583 -2,955 -2,760 -2,576 -2,541 Net debt 4,039 3,465 3,863 4,008 3,819 EBITDA (12 months rolling) 3,025 3,283 3,293 3,291 2,828 Net debt/EBITDA ratio 1.34 1.06 1.17 1.22 1.35 Q3 2025/26 SEK M Americas EMEA APAC Other / Group-wide Group total Items affecting comparability: Personnel related costs 21 19 21 339 401 Depreciation and impairment - - - - - Other costs 1 0 1 14 16 Total 22 19 22 354 417 Q3 2024/25 SEK M Americas EMEA APAC Other / Group-wide Group total Items affecting comparability: Personnel related costs 9 1 0 10 20 Depreciation and impairment - - - 3 3 Other costs 0 - 0 0 0 Total 10 1 0 12 23 ===== SIDA 28 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 28 Gross margin & Adjusted gross margin Gross margin is used to track operational performance and efficiency and Adjusted gross margin is used to track the underlying operational performance, i.e. excluding items affecting comparability. EBITDA margin & Adjusted EBITDA margin First nine months 2025/26 SEK M Americas EMEA APAC Other / Group-wide Group total Items affecting comparability: Personnel related costs 28 21 22 368 438 Depreciation and impairment - - - - - Other costs 1 0 1 14 16 Total 29 21 23 382 454 First nine months 2024/25 SEK M Americas EMEA APAC Other / Group-wide Group total Items affecting comparability: Personnel related costs 22 6 9 84 121 Depreciation and impairment - - - 31 31 Other costs 3 - 0 13 16 Total 24 6 9 128 167 SEK M 2025/26 2024/25 2025/26 2024/25 Net sales 4,239 4,695 11,955 12,860 Cost of products sold -2,751 -2,961 -7,588 -8,167 Gross income 1,489 1,734 4,368 4,693 Items affecting comparability 137 6 148 42 Adjusted gross income 1,625 1,740 4,516 4,735 Gross margin (Gross income/ Net sales) 35.1% 36.9% 36.5% 36.5% 38.3% 37.1% 37.8% 36.8% Q3 First nine months Adjusted gross margin (Adjusted gross income/ Net sales) SEK M 2025/26 2024/25 2025/26 2024/25 EBITDA 403 866 1,639 2,094 Items affecting comparability 417 20 454 136 Adjusted EBITDA 820 886 2,093 2,231 Net Sales 4,239 4,695 11,955 12,860 EBITDA margin (EBITDA/Net sales) 9.5% 18.4% 13.7% 16.3% Adjusted EBITDA margin (Adjusted EBITDA/Net sales) 19.3% 18.9% 17.5% 17.3% Q3 First nine months ===== SIDA 29 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 29 Adjusted EBIT by segment Adjusted EBIT is used to track the underlying operational performance, i.e. excluding items affecting comparability. Q3 2025/26 SEK M Americas EMEA APAC Other / Group-wide Group total Operating Income (EBIT) 379 649 490 -1,432 87 Items affecting comparability 22 19 22 354 417 Adjusted EBIT 401 668 512 -1,078 504 Q3 2024/25 SEK M Americas EMEA APAC Other / Group-wide Group total Operating Income (EBIT) 551 589 559 -1,174 525 Items affecting comparability 10 1 0 12 23 Adjusted EBIT 561 590 559 -1,162 548 First nine months 2025/26 SEK M Americas EMEA APAC Other / Group-wide Group total Operating Income (EBIT) 1,107 1,825 1,360 -3,596 696 Items affecting comparability 29 21 23 382 454 Adjusted EBIT 1,136 1,846 1,382 -3,214 1,150 First nine months 2024/25 SEK M Americas EMEA APAC Other / Group-wide Group total Operating Income (EBIT) 1,489 1,523 1,548 -3,473 1,087 Items affecting comparability 24 6 9 127 167 Adjusted EBIT 1,513 1,529 1,557 -3,346 1,254 ===== SIDA 30 ===== Interim report third quarter Nov–Jan 2025/26 ELEKTA Q3 2025/26 30 Adjusted earnings per share Adjusted earnings per share is used to track the underlying operational performance, i.e. excluding items affecting comparability. 1 Adjusted net income/average number of shares before dilution 2 Adjusted net income/average number of shares after dilution Adjusted R&D expenditure of net sales Adjusted R&D expenditure of net sales is used to track the amount spent on R&D in relation to net sales during the period, excluding items affecting comparability. Book-to-bill Book-to-bill is used to measure the company’s growth. A quota exceeding 1 shows that gross order intake is higher than the net sales. SEK M 2025/26 2024/25 2025/26 2024/25 Net income for the period attributable to: Parent Company shareholders 10 341 346 623 Items affecting comparability 417 23 454 167 Tax on Items affecting comparability -92 -5 -100 -37 Adjusted net income 335 358 701 753 Average number of shares, before dilution 382 382 382 382 Average number of shares, after dilution 382 382 382 382 Adjusted earnings per share before dilution 1 0.88 0.94 1.83 1.97 Adjusted earnings per share after dilution 2 0.88 0.94 1.83 1.97 Q3 First nine months SEK M 2025/26 2024/25 2025/26 2024/25 R&D expenditure, net 522 443 1,394 1,300 R&D items affecting comparability -81 -2 -89 -60 R&D capitalization 226 301 698 933 R&D amortization -177 -175 -517 -494 Adjusted R&D Expenditure, gross 490 568 1,485 1,678 Net Sales 4,239 4,695 11,955 12,860 Adjusted R&D Expenditure of net sales 12% 12% 12% 13% Q3 First nine months SEK M 2025/26 2024/25 2025/26 2024/25 RTM 2024/25 Gross order intake 4,956 5,418 12,875 13,926 18,666 19,718 Net sales 4,239 4,695 11,955 12,860 17,111 18,016 Book-to-bill 1.17 1.15 1.08 1.08 1.09 1.09 Q3 First nine months 12 months ===== SIDA 31 ===== Elekta AB Box 7593 SE – 103 93 Stockholm, Sweden T +46 8 587 254 00 F +46 8 587 255 00 elekta.com /elekta @elekta /company/elekta @elekta_ About Elekta Elekta is a global leader in radiotherapy solutions to fight cancer and neurological diseases. In fact, we are the only independent radiotherapy provider of scale. We have a broad offering of advanced solutions for delivering the most efficient radiotherapy treatments. Elekta’s offering allows clinicians to treat more patients with increased quality, both with value- creating innovations in solutions and AI-supported service based on a global network.