===== SIDA 1 ===== Interim Management Statement We create value for people and society by building strong and sustainable businesses “In today’s environment, it is pleasing to see that our portfolio companies are doing a good job focusing on what they can control, such as cost efficiency, while they continue to invest in future-proofing their businesses, setting themselves up for stronger long-term performance.” Christian Cederholm President & CEO of Investor ===== SIDA 2 ===== INVESTOR Q3 2025 – 2 Highlights during the third quarter  Adjusted net asset value (NAV) amounted to SEK 1,028.0bn (SEK 336 per share) on September 30, 2025, a change of SEK 67.3bn, or 7 percent, during the quarter. Total shareholder return amounted to 5 percent, compared to 3 percent for the SIXRX return index.  Listed Companies generated a total return of 8 percent. Investor acquired shares in Atlas Copco and Ericsson for SEK 0.6bn and SEK 0.5bn respectively, and entered into an agreement to divest 5m shares in SEB.  Based on estimated market values, the total return for Patricia Industries, including cash, amounted to 4 percent (4 percent excluding cash), mainly driven by multiples.  Within Patricia Industries, sales growth for the major subsidiaries amounted to -4 percent, of which 4 percent organically in constant currency. Reported EBITA declined by 1 percent and adjusted EBITA declined by 2 percent, impacted by negative currency effects.  Mölnlycke reported organic sales growth of 3 percent in constant currency, with Wound Care growing 5 percent. The profit margin increased, driven by lower cost and product mix, partly offset by negative currency impact and tariff costs.  Patricia Industries’ subsidiary Advanced Instruments closed the USD 2.2bn acquisition of Nova Biomedical. Patricia Industries contributed USD 1.6bn to finance the acquisition. The combined company is now operating as Nova Biomedical.  The value change of Investments in EQT was 1 percent. Investor invested an additional SEK 1.8bn in the co- investment with EQT X in Fortnox. Total net cash flow to Investor amounted to SEK 165m.  Leverage was 2.6 percent as of September 30, 2025 (1.2 percent as of December 31, 2024). Gross cash amounted to SEK 23,716m and the average maturity of Investor AB’s debt portfolio was 9.4 years. Financial information* 9/30 2025 6/30 2025 12/31 2024 Adjusted NAV, SEK m* 1,027,960 960,650 969,756 Adjusted NAV, SEK per share* 336 314 317 Reported NAV, SEK m*1) 899,225 839,992 819,364 Reported NAV, SEK per share*1) 294 274 268 Market capitalization (both share classes), excluding repurchased shares, SEK m 900,334 857,021 895,926 Share price (B-share), SEK 294.05 279.75 292.70 Q3 2025 YTD 2025 Adjusted NAV, sequential change, incl. dividend added back, SEK m* 67,310 74,132 Adjusted NAV, sequential change, incl. dividend added back, %* 7 8 Reported NAV, sequential change, incl. dividend added back, SEK m*1) 59,233 95,789 Reported NAV, sequential change, incl. dividend added back, %*1) 7 12 Market capitalization, sequential change, incl. dividend added back, SEK m* 43,313 15,896 Market capitalization, sequential change, incl. dividend added back, %* 5 2 Q3 2025 Q3 2024 YTD 2025 YTD 2024 Consolidated net sales, SEK m 16,271 15,733 48,040 46,809 Consolidated profit/loss, SEK m 59,814 12,781 102,041 144,884 Basic earnings per share, SEK 19.53 4.18 33.33 47.35 * Financial measures that are not defined or specified in the applicable financial reporting framework. For more information, see page 18 and 29-30. Change in market capitalization with dividend added back reflects the change in total market capitalization (both share classes) with the dividend paid out added back. Change in net asset value with dividend added back includes the full dividend approved by the AGM. 1) In the reported net asset value, the wholly-owned subsidiaries and partner-owned investments within Patricia Industries are reported according to the acquisition and equity method respectively. Methods are further described in Investor AB’s Annual report. Overview performance      Average annual total return YTD 1 year 5 years 10 years 20 years Adjusted NAV incl. dividend added back, % 7.6 5.8 15.9 Investor B, total return, % 1.8 -4.3 17.0 17.8 15.2 SIXRX return index, % 5.8 -0.3 9.4 10.8 10.1 ===== SIDA 3 ===== INVESTOR Q3 2025 – 3 CEO statement Dear fellow shareholders, Being a firm believer in free trade as a catalyst for innovation and global economic growth it is disturbing to see that trade friction continues to increase, due to tariffs and significant geopolitical tension. While the magnitude of tariffs differs between countries, the impact on the global economy is clearly negative. Further, on the currency front, while the USD remained relatively flat against the SEK during the quarter, it is still down significantly compared to last year. In this environment, it is pleasing to see that our portfolio companies are doing a good job focusing on what they can control, such as cost efficiency. Our companies are also continuing to invest in future-proofing their businesses, setting themselves up for stronger long-term performance. Recent examples are SEB’s expansion of its corporate banking business into new geographies, Nasdaq’s acquisitions to considerably strengthen its software-based customer offering, Mölnlycke’s expansion of its wound care business in China, and EQT’s move to attract investors from the retail and private wealth segments. During the quarter, our adjusted net asset value increased by 7 percent, and total shareholder return was 5 percent. The SIXRX total return index increased 3 percent. Listed Companies Listed Companies generated a total return of 8 percent. During the quarter, we invested SEK 0.6bn in Atlas Copco and SEK 0.5bn in Ericsson at levels we deem attractive. We entered a new contract to divest shares in SEB to maintain our current ownership share, and we received SEK 0.8bn in proceeds from the divestment last quarter. Add-on acquisitions continue to be important to complement organic growth. For example, in the past 12 months, Atlas Copco has acquired more than 30 companies, including several in the third quarter. AstraZeneca announced plans to invest USD 50bn in the US by 2030, further strengthening its position in this key market. Pruning portfolios is equally important, exemplified by Wärtsilä’s divestiture of its Marine Electrical Systems business. After the end of the quarter, ABB entered an agreement to divest ABB Robotics to Softbank. We share the view of the ABB board that this is financially attractive for the company, while ABB Robotics gets a new good home. In Husqvarna, the board appointed internal candidate Glen Instone as new CEO, effective August, 2025. The Nomination Committees ahead of the 2026 Annual General Meetings are currently convening. Attracting and retaining the best possible boards in our companies is imperative. Competition for the best competence is only getting more fierce, which is why we continue our push to close the gap between Swedish and international board remuneration levels for listed companies. Patricia Industries Patricia Industries’ total return was 4 percent in the quarter, with positive contribution mainly from multiples. The major subsidiaries (Nova Biomedical included on pro forma basis) reported sales growth of -4 percent, while organic growth in constant currency was a positive 4 percent, with BraunAbility and Laborie growing significantly faster. Adjusted EBITA declined by 2 percent, largely driven by a weakening USD. Margins remained stable despite tariffs and negative currency effects, helped by efficiency improvements. Mölnlycke reported organic sales growth of 3 percent in constant currency, driven mainly by Wound Care. The EBITA margin improved, with efficiency initiatives and product mix contributing positively, while currency and tariffs impacted negatively. In July, Advanced Instruments completed the acquisition of Nova Biomedical, now the name of the combined company. Starting this quarter, the company’s performance is reported pro forma. Organic growth in the quarter was negative 4 percent, due to a particularly strong comparison quarter last year, and a cyber incident that disrupted operations during this quarter. Integration work to realize Nova Biomedical’s attractive long-term profitable growth potential is off to a good start. This work entails activities such as merging the organizations and implementing a common ERP system, which may impact sales and earnings near-term. Investments in EQT The reported value of Investments in EQT grew 1 percent. We invested an additional SEK 1.8bn in the co-investment of Fortnox, taking the total investment close to the previously communicated SEK 4.5bn. Exit activity in EQT funds was high, with net cash flow to Investor of SEK 2.0bn, excluding Fortnox. After the quarter, it was announced that Jean Eric Salata has been nominated to succeed Conni Jonsson as Chair from the 2026 AGM. Financial strength and flexibility Despite significant investment activity in each of our business areas over the past several quarters, leverage remains at the lower end of the 0-10 percent target range. Focus on building strong and sustainable businesses Investor operates from a strong position, with a clear purpose, a focused strategy, a proven ownership model, and high- quality portfolio companies run by great people. Our financial flexibility supports our strategy. The current environment offers opportunities to further strengthen the positions of our companies and Investor itself, underpinning our ability to continue generating an attractive total return to you, dear fellow shareholders. Thank you for your trust in our work. Christian Cederholm President & CEO ===== SIDA 4 ===== INVESTOR Q3 2025 – 4 Net asset value overview Adjusted values Reported values Number of shares Ownership capital/votes (%) Share of total assets (%) Value, SEK m Value, SEK m Value, SEK m Value, SEK m 9/30 2025 9/30 2025 9/30 2025 9/30 2025 12/31 2024 9/30 2025 12/31 2024 Listed Companies ABB 265,385,142 14.4/14.4 17 179,512 158,209 179,512 158,209 Atlas Copco 840,053,755 17.1/22.3 13 132,234 139,542 132,234 139,542 Saab 163,890,488 30.2/39.7 9 93,795 38,113 93,795 38,113 SEB 451,198,927 22.1/22.1 8 83,058 69,047 83,058 69,047 AstraZeneca 51,587,810 3.3/3.3 7 73,255 74,751 73,255 74,751 Nasdaq 58,182,426 10.1/10.1 5 48,446 49,452 48,446 49,452 Epiroc 207,635,622 17.1/22.7 4 40,779 39,572 40,779 39,572 Sobi 122,881,259 34.4/34.4 3 35,169 38,953 35,169 38,953 Wärtsilä 104,711,363 17.7/17.7 3 29,247 20,571 29,247 20,571 Ericsson 334,492,541 9.9/24.8 2 26,024 27,933 26,024 27,933 Husqvarna 96,825,353 16.8/33.8 0 4,863 5,601 4,863 5,601 Electrolux Professional 58,941,654 20.5/32.5 0 3,537 4,008 3,537 4,008 Electrolux 50,786,412 17.9/30.4 0 2,611 4,665 2,611 4,665 Total Listed Companies 71 752,528 670,415 752,528 670,415 Patricia Industries Total exposure (%) Major subsidiaries Mölnlycke1) 99.8 7 75,877 91,258 18,813 18,750 Laborie 98.5 3 29,935 32,472 8,722 10,332 Nova Biomedical 99.1 3 27,399 14,755 22,064 9,172 Sarnova 95.8 2 21,408 23,938 6,034 6,932 Permobil1) 98.9 1 15,194 18,328 4,225 5,307 Piab Group1) 98.0 1 14,049 14,770 7,014 7,463 BraunAbility 93.8 1 10,602 11,863 2,411 1,896 Vectura 99.7 0 3,441 3,692 4,478 5,669 Atlas Antibodies 93.3 0 709 1,308 2,201 2,335 Total major subsidiaries 19 198,615 212,384 75,962 67,856 Tre Skandinavien 40.0/40.0 1 8,852 8,475 2,770 2,611 Financial investments 0 2,025 2,250 2,025 2,250 Total Patricia Industries excl. cash 20 209,492 223,109 80,757 72,716 Total Patricia Industries incl. cash 223,024 238,775 94,289 88,383 Investments in EQT EQT AB 177,258,357 14.4/14.4 5 57,538 53,262 57,538 53,262 Fund investments 4 39,820 35,447 39,820 35,447 Total Investments in EQT 9 97,358 88,710 97,358 88,710 Other Assets and Liabilities2) 0 -3,956 -283 -3,956 -283 Total Assets excl. cash Patricia Industries 100 1,055,422 981,951 926,687 831,558 Gross debt* -51,177 -40,141 -51,177 -40,141 Gross cash* 23,716 27,947 23,716 27,947 Of which Patricia Industries 13,532 15,666 13,532 15,666 Net debt -27,462 -12,194 -27,462 -12,194 Net asset value 1,027,960 969,756 899,225 819,364 Net asset value per share 336 317 294 268 1) Including receivables related to Management Participation Program foundations. 2) As per 9/30 2025, including liability for dividend to shareholders of SEK 4,441m to be paid in November 2025. ===== SIDA 5 ===== INVESTOR Q3 2025 – 5 Overview For balance sheet items, figures in parentheses refer to year-end 2024 figures. For income statement and cash flow items, they refer to the same period last year. Net asset value During the nine-month period 2025, adjusted net asset value increased from SEK 969.8bn to SEK 1,028.0bn. The change in adjusted net asset value, with dividend added back, was 8 percent during the period (22), of which 7 percent during the third quarter (2). Reported net asset value increased from SEK 819.4bn to SEK 899.2bn. The change in reported net asset value, with dividend added back, was 12 percent during the period (20), of which 7 percent during the third quarter (1). Total adjusted assets by business area Net debt and cash flow Net debt totaled SEK 27,462m on September 30, 2025 (12,194), corresponding to leverage of 2.6 percent (1.2). Our target leverage range is 0-10 percent (net debt/total adjusted assets) over a business cycle. While leverage can fluctuate above and below the target level, it should not exceed 20 percent for a longer period of time. Gross cash amounted to SEK 23,716m (27,947) and gross debt to SEK 51,177m as of September 30, 2025 (40,141). The average maturity of Investor AB’s debt portfolio was 9.4 years on September 30, 2025 (9.8). Leverage development Investor’s net debt SEK m YTD 2025 YTD 2024 Opening net debt -12,194 -13,938 Listed Companies Dividends 12,928 12,548 Other capital distributions 1 36 Divestments 820 - Investments -2,402 -2,837 Management cost -139 -134 Total 11,208 9,613 Patricia Industries Proceeds (distributions, divestitures, other) 5,104 5,721 Investments -15,909 -2,447 Internal transfer Investor/Patricia Industries 8,748 - Management cost -298 -266 Other1) 220 315 Total -2,135 3,323 Investments in EQT EQT AB, dividends received 381 314 Proceeds (fund distributions, other) 5,715 2,177 Investments (fund drawdowns, co- investments, other) -9,652 -3,140 Management cost -10 -9 Total -3,566 -658 Investor groupwide Internal transfer Investor/Patricia Industries -8,748 - Management cost -138 -138 Dividend to shareholders -11,487 -11,028 Other2) -401 -1,238 Closing net debt -27,462 -14,064 1) Includes currency-related effects and net interest paid. 2) Includes currency-related effects, revaluation of debt and net interest paid. Management cost Investor’s management cost amounted to SEK 585m during the nine-month period 2025 (548). As of September 30, 2025, rolling 12-month management cost amounted to 0.08 percent of the adjusted net asset value (0.08). The Investor share The price of the Investor A-share and B-share was SEK 293.80 (279.90) and SEK 294.05 (279.75) respectively on September 30, 2025. The total shareholder return (Class B-share) amounted to 2 percent during the nine-month period 2025 (36), of which 5 percent during the third quarter (8). The SIXRX return index was 6 percent during the nine- month period 2025 (15), of which 3 percent during the third quarter (4). Investor’s market capitalization, excluding repurchased shares, was SEK 900,334m as of September 30, 2025 (895,926). Average annual total return 0 200 000 400 000 600 000 800 000 1 000 000 1 200 000 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 SEK m Listed Companies Patricia Industries ex cash Investments in EQT -5 0 5 10 15 20 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Percent Leverage target range Leverage -10 -5 0 5 10 15 20 1 year 5 years 10 years 20 years Percent Investor B SIXRX ===== SIDA 6 ===== INVESTOR Q3 2025 – 6 Listed Companies Highlights during the quarter  The total return for Listed Companies amounted to 8 percent compared to 3 percent for the SIXRX return index.  Investor acquired shares in Atlas Copco and Ericsson for SEK 0.6bn and SEK 0.5bn respectively, and entered into a contract to divest 5m shares in SEB. Performance Total return (excluding management costs) amounted to 14 percent during the nine-month period 2025 (23), of which 8 percent during the third quarter (1). The SIXRX return index was 6 percent during the nine- month period 2025 (15), of which 3 percent during the third quarter (4). Total return, Listed Companies Contribution to net asset value (adjusted and reported) amounted to SEK 93,795m during the nine-month period 2025 (131,151), of which SEK 58,714m during the third quarter (5,292). Contribution to net asset value SEK m Q3 2025 YTD 2025 YTD 2024 Changes in value 57,388 80,531 118,738 Dividends 1,372 13,403 12,548 Management cost -46 -139 -134 Total 58,714 93,795 131,151 Contribution to net asset value and total return Q3 2025 YTD 2025 Value, SEK m Contribution, SEK m Total return (%)1) Contribution, SEK m Total return (%) ABB 179,512 29,691 19.8 24,002 15.7 Atlas Copco 132,234 5,855 4.7 -6,647 -4.7 Saab 93,795 7,572 8.8 55,846 146.7 SEB 83,058 8,759 11.7 20,077 30.6 AstraZeneca 73,255 5,304 7.8 194 0.1 Nasdaq 48,446 -874 -1.8 -598 -1.2 Epiroc 40,779 -2,130 -5.0 1,601 4.0 Sobi 35,169 -49 -0.1 -3,785 -9.7 Wärtsilä 29,247 6,230 26.8 9,182 45.2 Ericsson 26,024 -458 -1.7 -2,775 -9.9 Husqvarna 4,863 45 0.9 -689 -12.2 Electrolux Professional 3,537 -396 -10.1 -421 -10.5 Electrolux 2,611 -789 -23.2 -2,054 -44.0 Total 752,528 58,760 8.5 93,934 14.3 1) Calculated as the sum of share price changes with reinvested dividends, including add-on investments and/or divestments. Dividends received Dividends received totaled SEK 13,403m during the nine- month period 2025 (12,548), of which SEK 1,372m during the third quarter (885). SEK 475m was pending over the end of the quarter and is reported in Other Assets and Liabilities (-). The dividends received for the year includes SEK 1,369m in extra dividend from SEB (1,369). Dividends received, Listed Companies Investments and divestments During the third quarter 2025, 7,444,454 B-shares in Ericsson were purchased for a total consideration of SEK 540m and 4,400,000 B-shares in Atlas Copco were purchased for a total consideration of SEK 593m. The contract entered during the second quarter 2025, to divest 5m shares in SEB, was settled with proceeds to Investor of SEK 820m. In the third quarter Investor entered into a new contract to divest 5m shares in SEB. The contract will be settled during the fourth quarter, with expected proceeds to Investor of approximately SEK 900m. During the second quarter 2025, 15,555,546 B-shares in Ericsson were purchased for a total consideration of SEK 1.2bn. During the first quarter 2025, no investments or divestments were made. Listed Companies, value distribution, September 30, 2025 -30 -20 -10 0 10 20 30 40 50 2021 2022 2023 2024 9m 2025 Percent Listed Companies SIXRX 0 2 000 4 000 6 000 8 000 10 000 12 000 14 000 16 000 2021 2022 2023 2024 9m 2025 SEK m Ordinary dividend Extra dividend Electrolux 0% Electrolux Professional 0% Husqvarna 1% Wärtsilä 4% Ericsson 3% Sobi 5% Epiroc 5% Nasdaq 6% AstraZeneca 10% SEB 11% Saab 12% Atlas Copco 18% ABB 24% SEK 753bn Listed Companies include ABB, AstraZeneca, Atlas Copco, Electrolux, Electrolux Professional, Epiroc, Ericsson, Husqvarna, Nasdaq, Saab, SEB, Sobi and Wärtsilä. These are multinational companies with strong market positions and proven track records. ===== SIDA 7 ===== INVESTOR Q3 2025 – 7 Patricia Industries Patricia Industries develops private companies in the Nordics and in North America. Holdings include Atlas Antibodies, BraunAbility, Laborie, Mölnlycke, Nova Biomedical, Permobil, Piab Group, Sarnova, Vectura, Tre Skandinavien and Financial investments. Highlights during the quarter  The total return amounted to 4 percent, mainly driven by multiples.  Portfolio company Advanced Instruments completed the acquisition of Nova Biomedical. The new company now operates under the Nova Biomedical brand. Nova Biomedical is reported pro forma unless otherwise stated. Operating performance During the nine-month period 2025, sales growth for the major subsidiaries was 0 percent. Organic growth was 4 percent in constant currency. EBITA amounted to SEK 10,518m (10,266), an increase of 2 percent. Adjusting for items affecting comparability, EBITA grew 1 percent. During the third quarter 2025, sales growth amounted to -4 percent. Organic growth was 4 percent in constant currency. EBITA amounted to SEK 3,546m (3,572), a decrease of -1 percent. Adjusting for items affecting comparability, EBITA declined by 2 percent. As of September 30, 2025, on a rolling 12-month basis, the companies’ (subsidiaries and 40 percent of Tre Skandinavien. Nova Biomedical included from the third quarter 2025) combined sales and EBITDA amounted to SEK 68.0bn and SEK 17.1bn respectively. During the third quarter 2025, sales and EBITDA amounted to SEK 17.2bn, and SEK 4.6bn respectively. Patricia Industries, adjusted values, September 30, 2025 Reported EBITDA (subsidiaries & 40% of Tre Skandinavien) Major subsidiaries, performance Q 3 2 0 2 5 SEK m Sales Org. growth, constant currency EBITDA EBITDA (%) EBITA 1) EBITA (%) Operating cash flow Mölnlycke 5,650 3 1,682 29.8 1,484 26.3 1,418 Laborie 1,152 7 389 33.6 374 32.3 345 Nova Biomedical 1,455 -4 431 29.7 385 26.6 399 Sarnova 2,755 3 521 18.9 449 16.3 269 Permobil 1,537 0 366 23.8 315 20.5 347 Piab Group 860 2 239 27.8 201 23.4 180 BraunAbility 2,753 9 404 14.6 352 12.7 243 Vectura 96 65 59 61.7 -19 -19.7 -113 Atlas Antibodies 61 -4 14 22.4 6 9.2 10 Total 16,320 4,105 25.2 3,546 21.7 3,099 Reported growth y/y, % -4 1 -1 Organic growth, y/y, % 4 Y T D 2 0 2 5 SEK m Sales Org. growth, constant currency EBITDA EBITDA (%) EBITA 1) EBITA (%) Operating cash flow Mölnlycke 17,371 4 4,790 27.6 4,165 24.0 2,925 Laborie 3,548 10 1,150 32.4 1,094 30.8 942 Nova Biomedical 4,812 5 1,456 30.2 1,344 27.9 1,377 Sarnova 8,540 4 1,575 18.4 1,400 16.4 901 Permobil 4,587 1 1,055 23.0 892 19.4 753 Piab Group 2,701 3 749 27.7 631 23.4 546 BraunAbility 8,412 1 1,144 13.6 983 11.7 895 Vectura 276 78 158 57.1 -22 -7.8 -766 Atlas Antibodies 203 -3 55 26.9 30 15.0 36 Total 50,450 12,130 24.0 10,518 20.8 7,609 Reported growth y/y, % 0 3 2 Organic growth, y/y, % 4 1) EBITA is defined as operating profit before acquisition-related amortizations. Mölnlycke 36% Laborie 14% Nova Biomedical 13% Sarnova 10% Permobil 7% Piab Group 7% BraunAbility 5% Tre Skandinavien 4% Vectura 2% Financial Investments 1% Atlas Antibodies 0% SEK 209bn 0 2 000 4 000 6 000 8 000 10 000 12 000 14 000 16 000 18 000 0 500 1 000 1 500 2 000 2 500 3 000 3 500 4 000 4 500 5 000 Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 SEK m Quarterly LTM (RHS) ===== SIDA 8 ===== INVESTOR Q3 2025 – 8 Value development Contribution to adjusted net asset value amounted to SEK -24,688m during the nine-month period 2025 (40,654), of which SEK 7,771m during the third quarter (5,649). Contribution to adjusted net asset value SEK m Q3 2025 YTD 2025 YTD 2024 Changes in value 7,873 -24,422 40,916 Management cost -95 -298 -266 Other -7 32 4 Total 7,771 -24,688 40,654 Based on estimated market values, the total return for Patricia Industries, including cash, amounted to -10 percent (-11 percent excluding cash) during the nine-month period 2025, of which 4 percent (4 percent excluding cash) during the third quarter. The return during the third quarter was mainly driven by multiples. For more information on valuation, see page 33. Investments and divestments During the nine-month period 2025, investments amounted to SEK 15,909m, of which SEK 15,588m during the third quarter, primarily related to equity contribution to Advanced Instruments in conjunction with its acquisition of Nova Biomedical. Divestments amounted to SEK 37m during the nine-month period 2025, of which SEK 16m during the third quarter. Distributions received During the nine-month period 2025, distributions to Patricia Industries amounted to SEK 5,067m, of which SEK 162m during the third quarter. Distribution to Patricia Industries Patricia Industries, net cash SEK m Q3 2025 YTD 2025 YTD 2024 Beginning of period 15,959 15,666 9,299 Net cash flow -15,410 -10,805 3,274 Internal transfer Investor/Patricia Industries 12,971 8,748 - Other1) 12 -78 49 End of period 13,532 13,532 12,622 1) Includes currency-related effects, net interest and management cost. Patricia Industries – valuation overview Estimated market values, SEK m, 9/30, 2025 Change Q3 2025 vs. Q2 2025 SEK m Major drivers Comments Major subsidiaries Mölnlycke 75,877 282 Earnin gs and cash flow impacted positively, multiples and currency impacted negatively Applied EV/adjusted LTM EBITDA 14.8x Laborie 29,935 3,721 Mult iples and earnings impacted positively Applied EV/adjusted LTM EBITDA 18.0x Nova Biomedical 27,399 15,442 Earnings impacted positively. Nova Biomedical at estimated market value. SEK 15.3bn contribution from Patricia Industries Applied EV/adjusted LTM EBITDA 18.2x Sarnova 21,408 1,224 Earn ings and multiples impacted positively Applied EV/adjusted LTM EBITDA 14.9x Permobil 15,194 -220 Earnin gs impacted negatively, multiples impacted positively Applied EV/adjusted LTM EBITDA 13.9x Piab Group 14,049 668 Multiples impacted positively, earnings impacted negatively Applied EV/adjusted LTM EBITDA 16.8x BraunAbility 10,602 1,926 Earnings and multiples impacted positively Applied EV/adjusted LTM EBITDA 11.4x Vectura 3,441 -45 No major drivers Estimated market value of the property portfolio less debt and cost Atlas Antibodies 709 -128 Earnings and multiples impacted negatively Applied EV/adjusted LTM EBITDA 14.5x Partner-owned investments Tre Skandinavien 8,852 239 Cash flow and earnings impacted positively, multiples impacted negatively Applied EV/reported LTM EBITDA 6.4x Financial investments 2,025 175 Multiple or third-party valuation Total 209,492 Total incl. cash 223,024 0 1 000 2 000 3 000 4 000 5 000 6 000 7 000 8 000 9 000 10 000 2021 2022 2023 2024 9m 2025 SEK m ===== SIDA 9 ===== INVESTOR Q3 2025 – 9 A world-leading medtech company that specializes in sustainable solutions for wound care and surgical procedures. Read more at www.molnlycke.com Activities during the quarter Group  Organic sales growth amounted to 3 percent in constant currency, driven mainly by US Wound Care, while EMEA was weaker overall.  The EBITA margin improved compared to last year, driven by lower cost and positive product mix, while currency effects and tariffs impacted negatively.  Mölnlycke was awarded the Ecovadis Platinum Sustainability Rating for the second year in a row, reflecting the group’s continuing commitment to sustainability. Wound Care  Organic sales growth amounted to 5 percent in constant currency. The prevention, antimicrobial and post-op assortments continued to drive significant growth in the US. China had strong growth, while EMEA was slower mainly due to challenging market conditions in France and Germany.  A groundbreaking ceremony was held to initiate the major EUR 115m expansion investment in Wound Care manufacturing in Maine. Operating Room Solutions  Organic sales declined 2 percent in constant currency due to challenging market conditions in both Europe and the Middle East. Gloves  Organic sales growth amounted to 5 percent in constant currency driven by the US, while EMEA declined due to slower performance in the Middle East. Antiseptics  Organic sales growth amounted to 2 percent in constant currency, driven mainly by the US market. Mölnlycke, sales and margin development Key figures, Mölnlycke Income statement items, EUR m 2025 2024 Last 12 months Q3 YTD Q3 YTD Sales 508 1,564 506 1,518 2,110 EBITDA 151 431 144 437 589 EBITA 133 375 127 383 515 Sales growth, % 0 3 9 7 Organic growth, constant currency, % 3 4 9 7 EBITDA, % 29.8 27.6 28.5 28.8 27.9 EBITA, % 26.3 24.0 25.1 25.2 24.4 Cash flow items, EUR m Q3 YTD Q3 YTD EBITDA 151 431 144 437 Lease payments -5 -17 -6 -17 Change in working capital 3 -93 -3 -62 Capital expenditures -22 -58 -17 -37 Operating cash flow 128 263 118 321 Acquisitions/divestments - - -14 -14 Shareholder contribution/distribution - -200 - -200 Other1) -44 -77 -20 -123 Increase(-)/decrease(+) in net debt 84 -14 85 -16 Key ratios Working capital/sales, % 21 Capital expenditures/sales, % 4 Balance sheet items, EUR m 9/30 2025 12/31 2024 Net debt 1,810 1,796 9/30 2025 9/30 2024 Number of employees 8,630 8,400 1) Includes effects of exchange rate changes, interest, tax and change in lease liabilities. Mölnlycke, distribution of sales and organic sales growth Share of sales, (%) Organic growth, constant currency, (%) Last 12 months Q3 2025 Wound Care 60 5 Operating Room Solutions 25 -2 Gloves 12 5 Antiseptics 3 2 Total 100 3 Mölnlycke, distribution of sales by geography Share of sales, (%) 2024 Europe, Middle East, Africa 57 Americas 33 Asia Pacific 10 Total 100    0 5 10 15 20 25 30 35 0 100 200 300 400 500 600 700 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 EUR m Sales EBITDA, % EBITA, % ===== SIDA 10 ===== INVESTOR Q3 2025 – 10 A provider of diagnostic and therapeutic products within Gastroenterology, Urology & Urogynecology, and Obstetrics, Gynecology & Neonatal. Read more at www.laborie.com Activities during the quarter  Organic sales growth amounted to 7 percent in constant currency. Interventional Urology, Obstetrics, and Gastroenterology grew, with the OptilumeTM urethral strictures product contributing significantly.  The EBITA margin increased, driven by operating leverage, despite significant and increasing investment in the launch of Optilume TM for the treatment of benign prostatic hyperplasia (BPH), and increased R&D activity.  Chris Smith, former board member of Laborie and former CEO of NeoGenomics, Ortho Clinical, and Cochlear Limited, was appointed CEO of Laborie, effective September 22, 2025, following the retirement of the outgoing CEO, Mike Frazzette. Key figures, Laborie Income statement items, USD m 2025 2024 Last 12 months Q3 YTD Q3 YTD Sales 121 357 112 322 471 EBITDA 41 116 36 96 153 EBITA 39 110 34 91 146 Sales growth, % 8 11 26 23 Organic growth, constant currency, % 7 10 25 23 EBITDA, % 33.6 32.4 31.9 29.7 32.4 EBITA, % 32.3 30.8 30.5 28.2 30.9 Cash flow items, USD m Q3 YTD Q3 YTD EBITDA 41 116 36 96 Lease payments -1 -2 -1 -2 Change in working capital 1 -8 -3 -18 Capital expenditures -5 -11 -5 -14 Operating cash flow 36 95 27 61 Acquisitions/divestments 0 -14 -8 -11 Shareholder contribution/distribution - - - - Other1) -13 -34 -4 -25 Increase(-)/decrease(+) in net debt 23 47 15 24 Key ratios Working capital/sales, % 18 Capital expenditures/sales, % 3 Balance sheet items, USD m 9/30 2025 12/31 2024 Net debt 343 390 9/30 2025 9/30 2024 Number of employees 1,070 1,090 1) Includes effects of exchange rate changes, interest, tax and change in lease liabilities. A global provider of scientific and analytical solutions for the biopharma, clinical and food & beverage industries. Read more at www.novabiomedical.com Activities during the quarter  On July 10, 2025, Advanced Instruments completed its previously announced acquisition of Nova Biomedical, a global provider of analytical instruments and consumables for the biopharmaceutical and clinical markets. The enterprise value amounted to USD 2.2bn and Patricia Industries contributed USD 1.6bn in equity financing with the remainder financed by external debt. Integration and value creation activities are underway and progressing well.  Pro forma organic sales growth amounted to -4 percent in constant currency due to a particularly strong comparison period and a cyber incident that impacted the sales and operations this quarter.  The EBITA margin declined, primarily driven by increased investments in general and administrative functions to support the integration as well as elevated manufacturing costs for several products. Key figures, Nova Biomedical1) Income statement items, USD m 2025 2024 Last 12 months Q3 YTD Q3 YTD Sales 154 484 160 461 644 EBITDA 46 146 48 136 196 EBITA 41 135 44 125 181 Sales growth, % -4 5 14 8 Organic growth, constant currency, % -4 5 14 8 EBITDA, % 29.7 30.2 29.9 29.4 30.5 EBITA, % 26.6 27.9 27.6 27.0 28.2 Cash flow items, USD m2) Q3 YTD Q3 YTD EBITDA 46 146 n/a n/a Lease payments 0 -1 n/a n/a Change in working capital -2 -4 n/a n/a Capital expenditures -1 -4 n/a n/a Operating cash flow 42 138 n/a n/a Acquisitions/divestments -2,190 -2,190 n/a n/a Shareholder contribution/distribution 1,600 1,600 n/a n/a Other3) -104 -171 n/a n/a Increase(-)/decrease(+) in net debt -652 -623 n/a n/a Key ratios Working capital/sales, % 9 Capital expenditures/sales, % 1 Balance sheet items, USD m2) 9/30 2025 12/31 2024 Net debt 792 n/a 9/30 2025 9/30 2024 Number of employees 1,890 1,890 1) Nova Biomedical added pro forma unless otherwise stated. EBITDA and EBITA adjusted for transaction- and integration costs. 2) Nova Biomedical cash flow and net debt not added pro forma. 3) Includes effects of exchange rate changes, interest, tax and change in lease liabilities. ===== SIDA 11 ===== INVESTOR Q3 2025 – 11 A US provider of specialty healthcare and safety products, services and software for the US emergency medical services (EMS), acute care and cardiac response markets. Read more at www.sarnova.com Activities during the quarter  Organic sales growth amounted to 3 percent in constant currency, with strong growth in Emergency Preparedness and Acute Care partly offset by continued market-driven headwinds for Cardiac Response.  The underlying profit margin was stable, as favorable product mix was offset by continued investments in the commercial organization and digital platform enhancement.  On August 8, Sarnova acquired RescueStat, a healthcare technology company specializing in AED (automated external defibrillator) program management and remote monitoring, which has become a part of the Cardiac Response business unit. RescueStat’s proprietary software and hardware technology is highly complementary to the Cardiac Response business, enabling Sarnova to offer existing and new customers improved ability to manage their AEDs. The purchase price was USD 55m, funded with cash on hand and incremental debt. Key figures, Sarnova Income statement items, USD m 2025 2024 Last 12 months Q3 YTD Q3 YTD Sales 290 858 279 798 1,129 EBITDA 55 158 52 127 204 EBITA 47 141 46 111 181 Sales growth, % 4 8 13 8 Organic growth, constant currency, % 3 4 5 4 EBITDA, % 18.9 18.4 18.7 15.9 18.0 EBITA, % 16.3 16.4 16.7 13.9 16.1 Cash flow items, USD m Q3 YTD Q3 YTD EBITDA 55 158 52 127 Lease payments -1 -3 -1 -3 Change in working capital -17 -40 5 -15 Capital expenditures -9 -25 -3 -11 Operating cash flow 28 91 53 98 Acquisitions/divestments -39 -125 - -311 Shareholder contribution/distribution - - - - Other1) -23 -61 -28 -46 Increase(-)/decrease(+) in net debt -33 -95 24 -259 Key ratios Working capital/sales, % 16 Capital expenditures/sales, % 3 Balance sheet items, USD m 9/30 2025 12/31 2024 Net debt 817 723 9/30 2025 9/30 2024 Number of employees 1,560 1,515 1) Includes effects of exchange rate changes, interest, tax and change in lease liabilities. A provider of advanced mobility and seating rehab solutions, including powered and manual wheelchairs, pressure-relieving cushions and power- assist devices. Read more at www.permobil.com Activities during the quarter  Organic sales were flat in constant currency, with growth in EMEA and APAC offset by decline in Americas as a result of generally slower demand in the US and decline in Power Assist Devices.  The EBITA margin declined, compared to a strong comparison quarter, negatively impacted by costs related to the recall of the SmartDrive Speed Control Dial. Adjusted for these costs, the margin was stable, supported by cost efficiency measures.  The abovementioned recall is a voluntary action regarding the SpeedControl Dial, a wired control option for the SmartDrive, to cater for the product quality and safety of Permobil’s end users.  Since the launch of the next-generation bespoke manual wheelchairs, TiLite X and TiLite Z, a year ago, Permobil has seen a strong market response. The digitalized order-to- delivery chain, automated production setup, and the rich configuration options have enhanced customer satisfaction. Key figures, Permobil Income statement items, SEK m 2025 2024 Last 12 months Q3 YTD Q3 YTD Sales 1,537 4,587 1,652 4,774 6,332 EBITDA 366 1,055 430 1,130 1,430 EBITA 315 892 375 971 1,209 Sales growth, % -7 -4 4 11 Organic growth, constant currency, % 0 1 5 9 EBITDA, % 23.8 23.0 26.0 23.7 22.6 EBITA, % 20.5 19.4 22.7 20.3 19.1 Cash flow items, SEK m Q3 YTD Q3 YTD EBITDA 366 1,055 430 1,130 Lease payments -18 -55 -20 -60 Change in working capital 54 -51 -15 -98 Capital expenditures -56 -195 -99 -270 Operating cash flow 347 753 296 702 Acquisitions/divestments - -11 - -25 Shareholder contribution/distribution - -1,508 - -607 Other1) -34 101 -209 -603 Increase(-)/decrease(+) in net debt 313 -666 86 -533 Key ratios Working capital/sales, % 21 Capital expenditures/sales, % 4 Balance sheet items, SEK m 9/30 2025 12/31 2024 Net debt 4,440 3,774 9/30 2025 9/30 2024 Number of employees 1,990 2,035 1) Includes effects of exchange rate changes, interest, tax and change in lease liabilities. ===== SIDA 12 ===== INVESTOR Q3 2025 – 12 A provider of gripping and moving solutions for end-users and machine manufacturers to improve energy efficiency, productivity and work environment. Read more at www.piabgroup.com Activities during the quarter  Organic sales growth amounted to 2 percent in constant currency. Vacuum Conveying contributed to growth while Vacuum Automation was flat, and Lifting Automation declined. Regionally, Americas and APAC contributed to growth while EMEA declined.  The reported EBITA margin increased, with the comparison period negatively affected by non-recurring costs connected to add-on acquisitions. Adjusted for these costs, the margin decreased, negatively affected by tariffs and investments in digital infrastructure.  Piab Group launched PFAS-free filters for its vacuum conveyors, engineered to meet the strictest global food safety and environmental standards by preventing the release of hazardous PFAS chemicals into the environment. Key figures, Piab Group Income statement items, SEK m 2025 2024 Last 12 months Q3 YTD Q3 YTD Sales 860 2,701 839 2,439 3,708 EBITDA 239 749 214 624 1,053 EBITA 201 631 176 515 891 Sales growth, % 2 11 10 7 Organic growth, constant currency, % 2 3 5 2 EBITDA, % 27.8 27.7 25.5 25.6 28.4 EBITA, % 23.4 23.4 21.0 21.1 24.0 Cash flow items, SEK m Q3 YTD Q3 YTD EBITDA 239 749 214 624 Lease payments -17 -54 -18 -52 Change in working capital -19 -72 -22 -100 Capital expenditures -22 -77 -28 -95 Operating cash flow 180 546 147 377 Acquisitions/divestments - -181 -1,897 -1,897 Shareholder contribution/distribution -70 -180 1,219 1,108 Other1) -45 11 -10 -469 Increase(-)/decrease(+) in net debt 65 196 -542 -881 Key ratios Working capital/sales, % 17 Capital expenditures/sales, % 2 Balance sheet items, SEK m 9/30 2025 12/31 2024 Net debt 3,310 3,506 9/30 2025 9/30 2024 Number of employees 1,515 1,435 1) Includes effects of exchange rate changes, interest, tax and change in lease liabilities. A provider of mobility transportation solutions, including wheelchair accessible vehicles, lifts and seating, storage and securement products. Read more at www.braunability.com Activities during the quarter  Organic sales growth amounted to 9 percent in constant currency, driven by strong demand across the product portfolio as well as a favorable comparison period.  The EBITA margin increased, driven by operating leverage and manufacturing efficiency improvements. Key figures, BraunAbility Income statement items, USD m 2025 2024 Last 12 months Q3 YTD Q3 YTD Sales 289 845 265 834 1,084 EBITDA 42 115 29 104 131 EBITA 37 99 24 88 106 Sales growth, % 9 1 -2 3 Organic growth, constant currency, % 9 1 -2 3 EBITDA, % 14.6 13.6 11.0 12.4 12.1 EBITA, % 12.7 11.7 8.9 10.5 9.8 Cash flow items, USD m Q3 YTD Q3 YTD EBITDA 42 115 29 104 Lease payments -2 -6 -2 -6 Change in working capital -6 3 10 -17 Capital expenditures -9 -23 -7 -20 Operating cash flow 26 90 29 60 Acquisitions/divestments - - - -196 Shareholder contribution/distribution - - - - Other1) -2 -18 -4 -35 Increase(-)/decrease(+) in net debt 24 72 25 -171 Key ratios Working capital/sales, % 7 Capital expenditures/sales, % 3 Balance sheet items, USD m 9/30 2025 12/31 2024 Net debt 341 413 9/30 2025 9/30 2024 Number of employees 1,935 1,965 1) Includes effects of exchange rate changes, interest, tax and change in lease liabilities. ===== SIDA 13 ===== INVESTOR Q3 2025 – 13 A developer and manager of innovation clusters and commercial properties. Read more at www.vectura.se Activities during the quarter  Total income growth amounted to 65 percent, driven by finalization of renovation at Arsenalsgatan, as well as rental income from Forskaren (Hagastaden), Permobil’s head quarter facilities (Sundsvall), Bromma Sjukhus (Stockholm) and The Loop (Lund).  The surplus ratio 2) decreased slightly, explained by portfolio mix. The total pro rata share of Net Operating Income1) (NOI) from Joint Ventures amounted to SEK 20m (not consolidated).  In August, Vectura divested the final elderly care facility as part of the transaction of the Community Service portfolio to Altura (managed by NREP). The purchase price amounted to approximately SEK 270m.  The property development of Saab’s new R&D-focused office building in Lund was completed in September.  After the end of the quarter, on October 13, Vectura signed an agreement to divest Aktiebolaget Näckström, consisting of the Arsenalsgatan 8 property and Villa Täcka udden, to FAM AB. The total property value of the assets in the transaction amounts to SEK 1.4bn. The divestment is aligned with Vectura’s strategic focus to develop innovation clusters. Key figures, Vectura Income statement items, SEK m 2025 2024 Last 12 months Q3 YTD Q3 YTD Total income 96 276 58 178 343 Net operating income1) 70 198 43 126 242 Surplus ratio, %2) 73.2 71.7 74.5 70.7 70.3 Last 12 months Cash flow items, SEK m Q3 YTD Q3 YTD Capital expenditures3) -56 -894 -549 -1,395 -2,176 Balance sheet items, SEK m 9/30 2025 12/31 2024 External net debt 5,123 3,283 Property-related items 9/30 2025 9/30 2024 Property portfolio value, SEKm 8,874 7,295 of which properties under management 7,512 5,586 LTV, % 57 41 Properties under management, sqm4) 90,801 48,000 Occupancy rate, % properties under management 99 96 9/30 2025 9/30 2024 Number of employees 40 40 1) Total income – Property costs. 2) Net operating income/Total income. 3) Including contribution to associated companies. 4) Total finalized sqm, leased or available for lease. A provider of advanced reagents for basic and clinical biomedical research. Read more at www.atlasantibodies.com Activities during the quarter  Organic sales declined by 4 percent in constant currency, driven by the evitria business, which continues to be impacted by soft market demand, partly offset by growth in Atlas Antibodies and HistoCyte Laboratories.  The EBITA margin declined as a result of lower sales and investments to strengthen the organization.  Atlas Antibodies launched AtlasPlex, a customizable ready- to-use kit for detecting multiple proteins in a single tissue sample. Key figures, Atlas Antibodies Income statement items, SEK m 2025 2024 Last 12 months Q3 YTD Q3 YTD Sales 61 203 68 217 272 EBITDA 14 55 20 75 76 EBITA 6 30 11 49 43 Sales growth, % -9 -6 -4 -25 Organic growth, constant currency, % -4 -3 0 -24 EBITDA, % 22.4 26.9 29.0 34.4 27.9 EBITA, % 9.2 15.0 15.9 22.8 16.0 Cash flow items, SEK m Q3 YTD Q3 YTD EBITDA 14 55 20 75 Lease payments -3 -9 -4 -11 Change in working capital 3 2 -7 -6 Capital expenditures -3 -11 -2 -8 Operating cash flow 10 36 6 50 Acquisitions/divestments - - - - Shareholder contribution/distribution - - - - Other1) -6 -17 -9 -76 Increase(-)/decrease(+) in net debt 4 19 -3 -26 Key ratios Working capital/sales, % 74 Capital expenditures/sales, % 4 Balance sheet items, SEK m 9/30 2025 12/31 2024 Net debt 358 377 9/30 2025 9/30 2024 Number of employees 105 110 1) Includes effects of exchange rate changes, interest, tax and change in lease liabilities. ===== SIDA 14 ===== INVESTOR Q3 2025 – 14 A provider of mobile voice and broadband services in Sweden and Denmark. Read more at www.tre.se. Activities during the quarter  The subscription base increased by 74,000, of which 36,000 in Sweden and 38,000 in Denmark.  Service revenue increased by 6 percent and EBITDA increased by 4 percent.  Tre has partnered with Telavox to offer Swedish business customers a flexible, cloud-based communications platform that combines Tre’s mobile services with Telavox’s PBX technology, a phone system that manages calls and messaging within a company, providing an easy-to-use and scalable solution for business communication and collaboration. Key figures, Tre Skandinavien 2025 2024 Last 12 months Income statement items Q3 YTD Q3 YTD Sales, SEK m 3,191 9,303 3,079 9,137 12,651 Sweden, SEK m 2,103 6,088 2,019 6,001 8,299 Denmark, DKK m 736 2,170 690 2,052 2,909 Service revenue, SEK m1) 2,320 6,733 2,187 6,384 8,932 Sweden, SEK m 1,489 4,327 1,378 4,023 5,715 Denmark, DKK m 562 1,625 527 1,544 2,151 EBITDA, SEK m 1,181 3,307 1,131 3,191 4,360 Sweden, SEK m 844 2,383 805 2,289 3,140 Denmark, DKK m 228 624 212 590 816 EBITDA, % 37.0 35.5 36.7 34.9 34.5 Sweden 40.1 39.1 39.9 38.1 37.8 Denmark 31.0 28.7 30.7 28.8 28.1 Key ratios Capital expenditures/sales, % 12 Balance sheet items, SEK m 9/30 2025 12/31 2024 Net debt 5,690 6,950 9/30 2025 9/30 2024 Number of employees 1,865 1,885 Other key figures 9/30 2025 9/30 2024 Subscriptions 4,597,000 4,362,000 Sweden 2,839,000 2,721,000 Denmark 1,758,000 1,641,000 1) Mobile service revenue excluding interconnect revenue. ===== SIDA 15 ===== INVESTOR Q3 2025 – 15 Investments in EQT EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of three decades of delivering consistent and attractive returns across multiple geographies, sectors and strategies. Investor was one of the founders of EQT in 1994 and has committed capital to the vast majority of its funds. Read more at www.eqtgroup.com Highlights during the quarter  Investor invested an additional SEK 1.8bn in Fortnox, a co- investment alongside EQT X. Performance Contribution to net asset value (adjusted and reported) amounted to SEK 5,082m during the nine-month period 2025 (11,746), of which SEK 747m during the third quarter (5,883). The reported value change was 6 percent during the nine- month period 2025, of which 7 percent in constant currency. During the third quarter, the reported value change was 1 percent, of which 1 percent in constant currency. Net cash flow to Investor was SEK -3,566m during the nine-month period 2025, of which SEK 165m during the third quarter. Investments in EQT AB Total shareholder return for the nine-month period 2025 was 7 percent, of which 2 percent during the third quarter. Dividends received amounted to SEK 381m during the nine-month period 2025, of which SEK 0m during the third quarter. Investments in EQT funds The information on Investor’s investments in EQT funds is reported with a one-quarter lag. Consequently, the information in this report is presented as of June 30, 2025. During the nine-month period 2025, the reported value change of Investor’s investments in EQT funds was 4 percent, of which 8 percent in constant currency. During the third quarter, the reported value change was -1 percent, of which 0 percent in constant currency. During the nine-month period 2025, investments from Investor amounted to SEK 8,844m, of which SEK 3,185m during the third quarter. Proceeds to Investor amounted to SEK 5,715m, of which SEK 3,351m during the third quarter. During the third quarter, Investor invested an additional SEK 1,829m in Fortnox, taking the total investment close to the estimated SEK 4,480m. Fortnox was acquired by EQT X and is reported under “Other private capital”. Investor’s total outstanding commitments to EQT funds amounted to SEK 18.9bn as of September 30, 2025 (23.8). Change in adjusted net asset value, EQT SEK m Q3 2025 YTD 2025 YTD 2024 Net asset value, beginning of period 96,776 88,710 82,088 Contribution to net asset value 747 5,082 11,746 EQT AB, dividends received 0 -381 -314 Proceeds (fund distributions, other) -3,351 -5,715 -2,177 Investments (fund drawdowns, co- investments, other) 3,186 9,662 3,149 Net asset value, end of period 97,358 97,358 94,492 Investor’s investments in EQT, September 30, 20251) Investor Fund size EUR m Share (%) Outstanding commitment SEK m Reported value SEK m Real Assets EQT Infrastructure III 4,041 5 16 548 EQT Infrastructure IV 9,100 3 604 3,922 EQT Infrastructure V 15,700 3 927 5,630 EQT Infrastructure VI 21,500 3 4,179 2,622 Other Real Assets2) - - 409 333 Private Capital    EQT VII 6,817 5 64 1,560 EQT VIII 10,750 5 284 6,044 EQT IX 15,600 3 511 6,170 EQT X 21,700 3 4,043 3,109 Other private capital 3) - - 768 9,455 Funds not closed4) - - 6,862 102 Credit funds5) - - 240 326 Total investments 18,908 39,820 EQT AB 14.4/14.4 6) 57,538 Total investments in EQT 97,358 1) Investor’s investments in EQT funds are reported with a one-quarter lag. 2) EQT Infrastructure, EQT Infrastructure II, EQT Real Estate I, EQT Real Estate II. 3) EQT MM, EQT MM US, EQT MM Asia, EQT MM EU, EQT Ventures, EQT Ventures II, EQT Ventures III, EQT Growth, EQT Future and Fortnox. 4) BPEA IX, EQT Transition Infrastructure and EQT Healthcare Growth. Outstanding commitment is maximum and dependent on final fund size. 5) Divested by EQT AB to Bridgepoint, October 2020. 6) Capital and votes respectively. Investor’s investments in EQT, key figures overview Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 FY Q4 Q3 SEK m 2025 2025 2025 2024 2024 2024 2024 2024 2023 2023 2023 Reported value 97,358 96,776 90,512 88,710 88,710 94,492 88,961 92,562 82,088 82,088 71,962 Reported value change, % 1 4 1 8 -5 7 -4 12 17 16 1 Value change, constant currency, % 1 3 3 7 -6 7 -3 10 17 17 2 EQT AB, dividends received 0 381 0 627 314 0 314 0 523 261 0 Proceeds to Investor 3,351 1,616 748 3,726 1,550 898 1,058 222 4,076 1,272 969 Investments from Investor 3,186 4,791 1,685 4,102 953 546 1,376 1,227 4,777 371 2,097 Net cash flow to Investor 165 -2,794 -937 252 910 352 -5 -1,005 -178 1,163 -1,127 ===== SIDA 16 ===== INVESTOR Q3 2025 – 16 Investor group Net debt Net debt totaled SEK 27,462m on September 30, 2025 (12,194). Debt financing of the Patricia Industries’ subsidiaries is arranged without guarantees from Investor and hence not included in Investor’s net debt. Investor guarantees SEK 2.4bn of the associated company Tre Skandinavien’s refinanced external debt, but this guaranteed loan is not included in Investor’s net debt. The same applies for pending dividends from investments and approved but not yet paid dividend to shareholders. Net debt, September 30, 2025 SEK m Consolidated balance sheet Deductions related to Patricia Industries subsidiaries Investor’s net debt Other financial investments 10,368 -584 9,783 Cash, bank and short- term investments 22, 282 -8,350 13,932 Receivables included in net debt 1,824 -649 1,174 Interest bearing debt -115,541 63,302 -52,238 Provision for pensions -976 862 -114 Total -82,043 54,581 -27,462 Investor’s gross cash amounted to SEK 23,716m as of September 30, 2025 (27,947). The short-term investments are invested conservatively, taking into account the risk- adjusted return profile. Investor’s gross debt, excluding pension liabilities, amounted to SEK 51,064m as of September 30, 2025 (40,024). The average maturity of Investor AB’s debt portfolio was 9.4 years on September 30, 2025 (9.8), excluding the debt of the Patricia Industries subsidiaries. Investor is rated AA- (Stable Outlook) by S&P Global and Aa3 (Stable Outlook) by Moody’s. Debt maturity profile, September 30, 2025 Net financial items, YTD 2025 SEK m Group - Net financial items Deductions related to Patricia Industries subsidiaries Investor’s net financial items Interest income 656 -56 600 Interest expenses -3,214 2,370 -843 Results from revaluation of loans, swaps and short- term investments -589 351 -238 Foreign exchange result 960 -1,068 -108 Other -478 369 -109 Total -2,666 1,967 -699 Share capital Investor’s share capital amounted to SEK 4,795m on September 30, 2025 (4,795). Share structure Class of share Number of shares Number of votes % of capital % of votes A 1 vote 1,246,763,376 1,246,763,376 40.6 87.2 B 1/10 vote 1,821,936,744 182,193,674 59.4 12.8 Total 3,068,700,120 1,428,957,050 100.0 100.0 Investor’s share capital consists of 3,068,700,120 shares with a quota of SEK 1.5625 per share. On September 30, 2025, Investor owned a total of 5,801,007 of its own shares (5,668,787). Other Events after the end of the quarter On October 13, Vectura signed an agreement to divest Aktiebolaget Näckström, consisting of the Arsenalsgatan property and Villa Täcka udden, to FAM AB. The total property value of the assets in the transaction amounts to SEK 1.4bn. Since the sale constitutes a related party transaction under the Swedish Companies Act, the transaction- and decision-process have been handled in a corresponding way as when the Grand Group was sold to FAM AB in 2021, which is described in the Swedish Securities Council's ruling 2021:21 on good practice in related party transactions (including, among other things, independent valuation appraisals). Offers to chairpersons Investor continues to offer chairpersons in certain companies within Listed Companies the opportunity to invest in options in their respective companies with a duration of five to seven years, as the chairperson has a particularly important role in driving successful board work. During the second quarter 2025, new 7-year options, with a strike price of 120 percent of the share price, were sold to the chairperson in Husqvarna for a total consideration of SEK 1m. Acquisitions (business combinations) Sarnova’s acquisition of RescueStat On August 8, 2025, Cardio Partners, Inc., a division of Sarnova, finalized the acquisition of 100 percent of RescueStat, a healthcare technology company specializing 0 1 000 2 000 3 000 4 000 5 000 6 000 7 000 8 000 SEK m ===== SIDA 17 ===== INVESTOR Q3 2025 – 17 in AED program management and remote monitoring. The acquisition strengthens Cardio Partners’ mission to increase survival rates from sudden cardiac arrest (SCA) and expands its ability to deliver life-saving solutions to more communities across the US. The consideration amounted to SEK 507m and was funded with cash. In the preliminary purchase price allocation, goodwill amounted to SEK 428m. The goodwill recognized is not expected to be deductible for income tax purposes. Transaction-related costs amounted to SEK 18m and derives from external legal fees and due diligence expenses. These costs have been included in the line-item Administrative, research and development and other operating costs in the Group’s consolidated income statement. For the period from the acquisition date until September 30, 2025, RescueStat contributed net sales of SEK 17m and profit/loss of SEK 6m to the Group’s result. If the acquisition of RescueStat had occurred on January 1, 2025, management estimates that consolidated net sales for the Group would have increased by SEK 66m and consolidated profit/loss for the period would have increased by SEK 2m. Advanced Instrument’s acquisition of Nova Biomedical On July 10, 2025, Advanced Instruments finalized the acquisition of 100 percent of Nova Biomedical, a global provider of analytical instruments and consumables for the biopharmaceutical and clinical markets. Advanced Instruments and Nova Biomedical will combine to create a diversified, global life science tools platform which will operate under the Nova Biomedical name, with a portfolio of innovative products serving the biopharmaceutical and clinical markets, commercial presence in over 100 countries, enhanced innovation capabilities, and a strong financial profile. The consideration amounted to SEK 21,575m and was funded with SEK 15,260m in equity from Patricia Industries, and external debt. The acquisition adds a complementary product portfolio, amplified R&D opportunities and global commercial presence which will create a strong foundation for accelerated innovation and profitable growth. In the preliminary purchase price allocation, goodwill amounted to SEK 11,858m. The goodwill recognized is not expected to be deductible for income tax purposes. Goodwill mainly derives from expected synergies and R&D that do not qualify for separate recognition. Transaction-related costs amounted to SEK 297m and derives from external legal fees and due diligence expenses. These costs have been included in the line-item Changes in value in the Group’s consolidated income statement. For the period from the acquisition date until September 30, 2025, Nova Biomedical contributed net sales of SEK 931m and profit/loss of SEK -315m to the Group’s result. If the acquisition of Nova Biomedical had occurred on January 1, 2025, management estimates that consolidated net sales for the Group would have increased by SEK 2,481m and consolidated profit/loss for the period would have increased by SEK 538m. Identifiable assets acquired and liabilities assumed SEK m RescueStat Nova Biomedical Total Intangible assets 130 9,056 9,186 Property, plant and equipment 1 496 497 Other financial investments 0 821 821 Inventories 13 1,667 1,681 Trade receivables 29 694 723 Other current receivables 1 106 107 Cash and cash equivalents 41 226 267 Long-term interest bearing liabilities -45 -481 -526 Deferred tax liabilities - -2,388 -2,388 Other provisions -90 - -90 Other liabilities -2 -480 -482 Net identifiable assets and liabilities 79 9,718 9,796 Consolidated goodwill 428 11,858 12,286 Consideration 507 21,575 22,082 Less: acquired cash and cash equivalents -41 -226 -267 Supplementary payments -96   -96 Paid additional purchased price related to acquisitions made in previous periods -62 Acquisitions of subsidiaries, net effect on cash flow 370 21,349 21,656 Pledged assets and contingent liabilities Total pledged assets amount to SEK 39.4bn (30.9), of which SEK 35.4bn (27.0) refers to pledged assets in the subsidiaries BraunAbility, Laborie, Nova Biomedical and Sarnova, related to outstanding loans corresponding to SEK 2.9bn (4.0), SEK 3.7bn (4.8), SEK 7.5bn (1.8) and SEK 8.2bn (8.3). Total contingent liabilities amount to SEK 7.0bn and refers to warranties within the wholly-owned subsidiaries and Tre Skandinavien (6.4). Pillar two Investor is covered by the new OECD’s Pillar two model rules, adopted into Swedish law as of December 31, 2023. These rules may result in a Top-up tax for the Group in some jurisdictions, where the effective tax rate according to Pillar two is below a minimum tax rate of 15%. The assessment is that there is no significant exposure for Top- up tax for Investor. ===== SIDA 18 ===== INVESTOR Q3 2025 – 18 Risks with regards to Russia’s invasion of Ukraine All consolidated companies have taken measures related to Russia’s invasion of Ukraine such as following sanctions, to protect and support employees, and several have wound down their Russian activities. The direct exposure to Russia and Ukraine is very small for Investor and its subsidiaries and the direct financial impact from the war is negligible. The Group has no production plants or other assets in the countries concerned. No impairment has been made related to Russia’s invasion of Ukraine. Basis of preparation for the Interim Management Statement This Interim Management Statement has in all material aspects been prepared in accordance with NASDAQ Stockholm’s guidelines for preparing interim management statements. The accounting policies that have been applied for the consolidated income statement and consolidated balance sheet, are in agreement with the accounting policies used in the preparation of the company’s most recent annual report. Alternative performance measures Investor applies the ESMA Guidelines on Alternative performance measures (APMs). An APM is a financial measure of historical or future financial performance, financial position, or cash flows, other than a financial measure defined or specified in the applicable financial reporting framework. For Investor’s consolidated accounts, this framework typically means IFRS. Definitions of all APMs used are found in the Annual report 2024 and on www.investorab.com/investors- media/financials/definitions. Reconciliations to the financial statements for the APMs that are not directly identifiable from the financial statements and considered significant to specify, are disclosed on pages 26-27. Reconciliations of APMs for individual subsidiaries or business areas are not disclosed, since the purpose of these are to give deeper financial information without being directly linked to the financial information for the Group, that is presented according to the applicable financial reporting framework. Roundings Due to rounding, numbers presented throughout this Interim Management Statement may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. ===== SIDA 19 ===== INVESTOR Q3 2025 – 19 Financial calendar Jan. 22, 2026 Year-end report 2025 Apr. 21, 2026 Interim Management Statement January-March 2026 May 7, 2026 Annual General Meeting Jul. 16, 2026 Interim Report January-June 2026 Oct. 16, 2026 Interim Management Statement January-September 2026 For more information Jenny Ashman Haquinius Chief Financial Officer +46 8 614 2000 jenny.ashmanhaquinius@investorab.com Jacob Lund Chief Communications & Sustainability Officer +46 72 560 2157 jacob.lund@investorab.com Magnus Dalhammar Head of Investor Relations +46 73 524 2130 magnus.dalhammar@investorab.com Address Investor AB (publ) (CIN 556013-8298) SE-103 32 Stockholm, Sweden Visiting address: Arsenalsgatan 8C Phone: +46 8 614 2000 www.investorab.com Ticker codes INVEB SS in Bloomberg INVEb.ST in Reuters INVE B in NASDAQ OMX Information about Investor is also available on LinkedIn. This information is information that Investor AB 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 08:15 CET on October 16, 2025. This Interim Management Statement and additional information is available on www.investorab.com This Interim Management Statement has not been subject to review by the company’s auditors ===== SIDA 20 ===== INVESTOR Q3 2025 – 20 Consolidated income statement, in summary SEK m YTD 2025 YTD 2024 Q3 2025 Q3 2024 Dividends 13,797 12,869 1,372 884 Changes in value 84,939 130,566 57,381 10,268 Net sales 48,040 46,809 16,271 15,733 Cost of goods and services sold -25,228 -24,383 -8,679 -8,077 Sales and marketing cost -6,924 -6,869 -2,280 -2,303 Administrative, research and development and other operating cost -8,891 -8,728 -3,056 -2,919 Management cost -585 -548 -185 -169 Share of results of associates 323 155 130 58 Operating profit/loss 105,471 149,870 60,953 13,474 Net financial items -2,666 -4,113 -1,031 -345 Profit/loss before tax 102,805 145,758 59,921 13,129 Income taxes -764 -873 -107 -347 Profit/loss for the period 102,041 144,884 59,814 12,781 Attributable to: Owners of the Parent company 102,097 145,036 59,832 12,799 Non-controlling interest -56 -152 -18 -17 Profit/loss for the period 102,041 144,884 59,814 12,781 Basic earnings per share, SEK 33.33 47.35 19.53 4.18 Diluted earnings per share, SEK 33.31 47.32 19.52 4.18 Consolidated statement of comprehensive income, in summary SEK m YTD 2025 YTD 2024 Q3 2025 Q3 2024 Profit/loss for the period 102,041 144,884 59,814 12,781 Other comprehensive income for the period, including tax Items that will not be recycled to profit/loss for the period Revaluation of property, plant and equipment -61 - 7 - Re-measurements of defined benefit plans 60 -77 1 -15 Items that may be recycled to profit/loss for the period Hedges 853 -7 122 -4 Hedging costs 62 -91 32 -16 Foreign currency translation adjustment -7,008 76 -725 -1,815 Share of other comprehensive income of associates -181 29 -54 26 Total other comprehensive income for the period -6,274 -70 -619 -1,823 Total comprehensive income for the period 95,766 144,815 59,196 10,958 Attributable to: Owners of the Parent company 95,853 144,969 59,209 10,982 Non-controlling interest -87 -154 -13 -24 Total comprehensive income for the period 95,766 144,815 59,196 10,958 ===== SIDA 21 ===== INVESTOR Q3 2025 – 21 Consolidated balance sheet, in summary SEK m 9/30 2025 12/31 2024 9/30 2024 ASSETS Goodwill 76,848 71,277 67,806 Other intangible assets 37,326 33,682 32,697 Property, plant and equipment 18,667 17,516 15,265 Shares and participations 856,039 765,251 798,103 Other financial investments 10,368 3,528 2,091 Long-term receivables included in net debt 1,821 938 1,209 Other long-term receivables 4,567 3,827 3,870 Total non-current assets 1,005,636 896,020 921,042 Inventories 12,227 10,512 10,230 Shares and participations in trading operation 424 398 392 Short-term receivables included in net debt 2 - 2 Other current receivables 12,141 11,608 11,328 Cash, bank and short-term investments 22,282 33,552 33,527 Total current assets 47,076 56,071 55,479 TOTAL ASSETS 1,052,712 952,090 976,522 EQUITY AND LIABILITIES Equity 899,534 819,752 847,660 Long-term interest-bearing liabilities 114,319 94,389 90,578 Provisions for pensions and similar obligations 976 1,026 934 Other long-term provisions and liabilities 17,855 18,134 16,238 Total non-current liabilities 133,150 113,549 107,749 Current interest-bearing liabilities 1,221 4,577 4,398 Other short-term provisions and liabilities 18,807 14,212 16,714 Total current liabilities 20,028 18,789 21,112 TOTAL EQUITY AND LIABILITIES 1,052,712 952,090 976,522 Consolidated statement of changes in equity, in summary SEK m YTD 2025 2024 YTD 2024 Opening balance 1/1 819,752 717,431 717,431 Profit for the period 102,041 113,169 144,884 Other comprehensive income for the period -6,274 3,705 -70 Total comprehensive income for the period 95,766 116,874 144,815 Dividend to shareholders -15,928 -14,704 -14,704 Changes in non-controlling interest 8 244 239 Effect of long-term share-based remuneration 96 136 108 Purchase of own shares -160 -229 -229 Closing balance 899,534 819,752 847,660 Attributable to: Owners of the Parent company 899,225 819,364 847,281 Non-controlling interest 309 388 379 Total equity 899,534 819,752 847,660 ===== SIDA 22 ===== INVESTOR Q3 2025 – 22 Consolidated cash flow, in summary SEK m YTD 2025 YTD 2024 Operating activities Dividends received 13,308 12,869 Cash receipts 39,977 44,903 Cash payments -31,251 -36,733 Cash flows from operating activities before net interest and income tax 22,033 21,039 Interest received/paid -3,436 -1,840 Income tax paid -1,590 -1,349 Cash flows from operating activities 17,008 17,850 Investing activities Acquisitions1) -12,183 -6,082 Divestments2) 6,564 2,362 Increase in long-term receivables -255 -474 Decrease in long-term receivables 11 65 Acquisitions of subsidiaries, net effect on cash flow -22,243 -3,561 Increase in other financial investments3) -11,482 -5,923 Decrease in other financial investments4) 4,683 7,223 Net change, short-term investments5) 10,275 -2,951 Acquisitions of property, plant and equipment -2,449 -2,621 Proceeds from sale of property, plant and equipment 318 4,297 Net cash used in investing activities -26,762 -7,666 Financing activities Borrowings 32,071 19,907 Repayment of borrowings -9,833 -15,986 Repurchases of own shares -204 -355 Transactions with non-controlling interest -1,197 -3,842 Dividend paid -11,487 -11,028 Net cash used in financing activities 9,351 -11,305 Cash flows for the period -403 -1,121 Cash and cash equivalents at the beginning of the year 17,220 18,794 Exchange difference in cash -402 132 Cash and cash equivalents at the end of the period 16,415 17,804 1) Acquisitions include investments in listed and unlisted companies not defined as subsidiaries. 2) Divestments include sale of listed and unlisted companies not defined as subsidiaries. 3) Increase in other financial investments include acquisition of bonds with maturity later than 1 year. 4) Decrease in other financial investments include disposals of reclassification of bonds with maturity later than 1 year. 5) Net changes, short-term investments includes acquisitions and disposals of bonds and certificates with maturity within 1 year. ===== SIDA 23 ===== INVESTOR Q3 2025 – 23 Performance by business area Q3 2025 SEK m Listed Companies Patricia Industries Investments in EQT Investor Groupwide Total Dividends 1,372 - - - 1,372 Changes in value 57,388 -802 782 12 57,381 Net sales - 16,271 - - 16,271 Cost of goods and services sold - -8,679 - - -8,679 Sales and marketing cost - -2,280 - - -2,280 Administrative, research and development and other operating cost - -3,040 -2 -14 -3,056 Management cost -46 -95 -3 -41 -185 Share of results of associates - 130 - - 130 Operating profit/loss 58,714 1,504 777 -43 60,953 Net financial items - -995 - -36 -1,031 Income tax - -89 - -18 -107 Profit/loss for the period 58,714 420 777 -97 59,814 Non-controlling interest - 18 - - 18 Net profit/loss for the period attributable to the Parent company 58,714 438 777 -97 59,832 Dividend to shareholders - - - 1 1 Other effects on equity - -744 -30 175 -599 Contribution to net asset value 58,714 -306 747 79 59,234 Net asset value by business area 9/30 2025 Carrying amount 752,528 80,757 97,358 -3,956 926,687 Investors net debt/-cash - 13,532 - -40,993 -27,462 Total net asset value including net debt/-cash 752,528 94,2 89 97,358 -44,949 899,225 Performance by business area Q3 2024 SEK m Listed Companies Patricia Industries Investments in EQT Investor Groupwide Total Dividends 885 - - 0 884 Changes in value 4,453 -105 5,905 15 10,268 Net sales - 15,733 - - 15,733 Cost of goods and services sold - -8,077 - - -8,077 Sales and marketing cost - -2,303 - - -2,303 Administrative, research and development and other operating cost - -2,907 -1 -11 -2,919 Management cost -45 -87 -3 -34 -169 Share of results of associates - 58 - - 58 Operating profit/loss 5,29 2 2,312 5,900 -30 13,474 Net financial items - -390 - 44 -345 Income tax - -363 - 16 -347 Profit/loss for the period 5,292 1,559 5,900 29 12,781 Non-controlling interest - 17 - - 17 Net profit/loss for the period attributable to the Parent company 5,292 1,577 5,900 29 12,799 Other effects on equity - -1,809 -17 42 -1,785 Contribution to net asset value 5,292 -232 5,883 71 11,014 Net asset value by business area 9/30 2024 Carrying amount 697,884 72,927 94,492 -3,958 861,344 Investors net debt/-cash - 12,622 - -26,686 -14,064 Total net asset value including net debt/-cash 697,884 85,5 49 94,492 -30,644 847,281 ===== SIDA 24 ===== INVESTOR Q3 2025 – 24 Performance by business area YTD 2025 SEK m Listed Companies Patricia Industries Investments in EQT Investor Groupwide Total Dividends 13,403 - 381 13 13,797 Changes in value 80,531 -503 4,863 47 84,939 Net sales - 48,040 - - 48,040 Cost of goods and services sold - -25,228 - - -25,228 Sales and marketing cost - -6,924 - - -6,924 Administrative, research and development and other operating cost - -8,846 -5 -40 -8,891 Management cost -139 -298 -10 -138 -585 Share of results of associates - 323 - - 323 Operating profit/loss 93,795 6,564 5,229 -118 105,471 Net financial items - -1,967 - -699 -2,666 Income tax - -749 - -15 -764 Profit/loss for the period 93,795 3,848 5,229 -832 102,041 Non-controlling interest - 56 - - 56 Net profit/loss for the period attributable to the Parent company 93,795 3,904 5,229 -832 102,097 Dividend to shareholders - - - -15,928 -15,928 Other effects on equity - -6,935 -147 774 -6,307 Contribution to net asset value 93,795 -3,031 5,082 -15,985 79,861 Net asset value by business area 9/30 2025 Carrying amount 752,528 80,757 97,358 -3,956 926,687 Investors net debt/-cash - 13,532 - -40,993 -27,462 Total net asset value including net debt/-cash 752,528 94,2 89 97,358 -44,949 899,225 Performance by business area YTD 2024 SEK m Listed Companies Patricia Industries Investments in EQT Investor Groupwide Total Dividends 12,548 - 314 8 12,869 Changes in value 118,738 456 11,349 22 130,566 Net sales - 46,809 - - 46,809 Cost of goods and services sold - -24,383 - - -24,383 Sales and marketing cost - -6,869 - - -6,869 Administrative, research and development and other operating cost - -8,690 -5 -34 -8,728 Management cost -134 -266 -9 -138 -548 Share of results of associates - 155 - - 155 Operating profit/loss 131,151 7,211 11,649 -141 149,870 Net financial items - -3,900 - -213 -4,113 Income tax - -915 - 42 -873 Profit/loss for the period 131,151 2,396 11,649 -312 144,884 Non-controlling interest - 152 - - 152 Net profit/loss for the period attributable to the Parent company 131,151 2,548 11,649 -312 145,036 Dividend to shareholders - - - -14,704 -14,704 Other effects on equity - 733 96 -650 179 Contribution to net asset value 131,151 3,282 11,746 -15,666 130,512 Net asset value by business area 9/30 2024 Carrying amount 697,884 72,927 94,492 -3,958 861,344 Investors net debt/-cash - 12,622 - -26,686 -14,064 Total net asset value including net debt/-cash 697,884 85,5 49 94,492 -30,644 847,281 ===== SIDA 25 ===== INVESTOR Q3 2025 – 25 Financial instruments The numbers below are based on the same accounting and valuation policies as used in the preparation of the company’s most recent annual report. For information regarding financial instruments in level 2 and level 3, see Note 32, Financial instruments, in Investor’s Annual report 2024. Valuation techniques, level 3 Fair value, SEK m Range Group 9/30 2025 12/31 2024 Valuation technique Input 9/30 2025 12/31 2024 Shares and participations 42,302 38,173 Last round of financing n/a n/a n/a Comparable companies EBITDA multiples n/a n/a Comparable companies Sales multiples 1.6 – 3.1 2.1 – 2.5 Comparable transactions Sales multiples 1.1 – 5.4 1.1 – 4.6 NAV n/a n/a n/a Other financial investments 343 279 Discounted cash flow Market interest rate n/a n/a Long-term and current receivables 2,532 2,733 Discou nted cash flow Market interest rate n/a n/a Long-term interest-bearing liabilities 155 17 Discounted cash flow Market interest rate n/a n/a Other provisions and liabilities 9,365 10,876 Comparable companies EBITDA multiples n/a n/a All valuations in level 3 are based on assumptions and judgments that management considers to be reasonable based on the circumstances prevailing at the time. Changes in assumptions may result in adjustments to reported values and the actual outcome may differ from the estimates and judgments that were made. Shares and participations in level 3 are mainly fund investments within EQT. Unlisted holdings in funds are measured at Investor’s share of the value that the fund manager reports for all unlisted fund holdings (Net Asset Value) and is normally updated when a new valuation is received. The value change on Investor’s investments in EQT funds are reported with a one-quarter lag. Part of the unlisted portfolio is valued based on comparable companies, and the value is dependent on the level of the multiples. The multiple ranges provided in the note show the minimum and maximum value of the actual multiples applied in these valuations. A 10 percent change of the multiples would have an effect on this part of the unlisted portfolio of approximately SEK 110m (100). For the derivatives, a parallel shift of the interest rate curve by one percentage point would affect the value by approximately SEK 310m (540). Financial assets and liabilities by level The table below indicates how fair value is measured for the financial instruments recognized at fair value in the Balance sheet. The financial instruments are presented in three categories, depending on how the fair value is measured: Level 1: According to quoted prices in active markets for identical instruments Level 2: According to directly or indirectly observable inputs that are not included in level 1 Level 3: According to inputs that are unobservable in the market Financial instruments - fair value 9/30 2025 12/31 2024 G r o u p Total carrying Total carrying SEK m Level 1 Level 2 Level 3 Other 1) amount Level 1 Level 2 Level 3 Other 1) amount Financial assets Shares and participations 803,981 6,175 42,302 3,580 856,039 720,505 3,247 38,173 3,327 765,251 Other financial investments 9,932 - 343 92 10,368 3,142 - 279 107 3,528 Long-term receivables included in net debt - 1,172 649 - 1,821 - - 938 - 938 Other long-term receivables - - 1,883 2,684 4,567 - - 1,793 2,034 3,827 Shares and participations in trading operation 424 - - - 424 398 - - - 398 Short-term receivables included in net debt - 2 - - 2 - - - - 0 Other current receivables - 17 - 12,124 12,141 - 14 2 11,592 11,608 Cash, bank and short-term investments 13,578 - - 8,704 22,282 24,815 - - 8,737 33,552 Total 827,916 7,366 45,177 27,185 907,645 748,860 3,261 41,185 25,797 819,103 Financial liabilities Long-term interest-bearing liabilities - 71 155 114,093 114,319 2) - 6 17 94,366 94,389 2) Other long-term provisions and liabilities - - 8,305 9,550 17,855 - - 10,294 7,840 18,134 Short-term interest-bearing liabilities - 2 2 1,218 1,221 3) - 5 - 4,572 4,577 3) Other short-term provisions and liabilities 213 37 1,058 17,499 18,807 188 45 582 13,398 14,212 Total 213 110 9,520 142,360 152,202 188 56 10,894 120,176 131,313 1) To enable reconciliation with balance sheet items, financial instruments not valued at fair value as well as other assets and liabilities that are included within balance sheet items have been included within Other. 2) The Group’s loans are valued at amortized cost. Fair value on long-term loans amounts to SEK 110,530m (90,220). 3) The Group’s loans are valued at amortized cost. Fair value on short-term loans amounts to SEK 1,221m (4,481). ===== SIDA 26 ===== INVESTOR Q3 2025 – 26 Changes in financial assets and liabilities in Level 3                        Group 9/30 2025 SEK m Shares and participations Other financial investments Long-term receivables included in net debt Other current receivables Long-term interest- bearing liabilities Other long-term provisions and liabilities Other current liabilities Opening balance at the beginning of the year 38,173 279 2,731 2 17 10,294 582 Total gain or losses in profit or loss statement in line Changes in value 1,442 - 325 - - -11 45 in line Net financial items - -9 308 -2 42 369 -5 in line Cost of goods and services sold - - -1 - - -8 - in line Foreign currency translation adjustment -502 -35 - 0 3 -905 -105 Acquisitions 8,923 108 - - - - 2 Divestments -5,734 - - - - -1,026 -51 Issues - - 65 - 93 383 - Settlements - - -11 - - -167 -33 Reclassification - - - - - -624 624 Transfer out of Level 3 - - -270 - - - - Carrying amount at end of the period 42,302 343 2,532 0 155 8,305 1,059 Total unrealized gains/losses for the period included in profit/loss for financial instruments held at the end of the period Changes in value -1,042 - 233 - - 11 45 Net financial items 204 - -308 - 42 -331 - Total -839 - -76 - 42 -320 45                           Group 12/31 2024 SEK m Shares and participations Other financial investments Long-term receivables included in net debt Other current receivables Long-term interest- bearing liabilities Other long-term provisions and liabilities Other current liabilities Opening balance at the beginning of the year 34,744 132 2,605 - 23 10,690 55 Total gain or losses in profit or loss statement in line Changes in value 2,359 - 261 - - - - in line Net financial items - -20 -103 2 -5 2,787 45 in line Cost of goods and services sold - - - - - -173 - Reported in other comprehensive income in line Cash flow hedges - - -51 - - - - in line Foreign currency translation adjustment 354 14 3 0 - 673 21 Acquisitions 4,792 153 - - - 36 54 Divestments -4,075 - - - - -3,949 - Issues - - 116 - - 331 337 Settlements - - -99 - - -31 - Reclassification - - - - - -71 71 Carrying amount at end of the period 38,173 279 2,731 2 17 10,294 582 Total unrealized gains/losses for the period included in profit/loss for financial instruments held at the end of the period Changes in value -7,275 - 349 - - - - Net financial items - - -103 - 5 -2,462 -48 Total -7,275 - 246 - 5 -2,462 -48 ===== SIDA 27 ===== INVESTOR Q3 2025 – 27 Revenue from contracts with customers Group Q3 2025 Field of operations SEK m Healthcare equipment Life science Real estate Gripping and moving solutions Total Geographical market Sweden 283 40 75 27 425 Scandinavia, excl. Sweden 374 8 - 17 399 Europe, excl. Scandinavia 3,202 355 - 321 3,878 U.S. 8,644 811 - 277 9,732 North America, excl. U.S. 302 49 - 34 384 South America 133 35 - 24 192 Africa 83 25 - 1 110 Australia 306 23 - 8 337 Asia, excl. China 319 118 - 46 483 China 202 24 - 106 332 Total 13,847 1,488 75 860 16,271 Category Sales of products 13,183 1,141 - 847 15,172 Sales of services 648 346 - 13 1,008 Revenues from leasing 14 - 75 - 89 Other income 1 1 1 - 3 Total 13,847 1,488 75 860 16,271 Sales channels Through distributors 7,859 289 - 21 8,170 Directly to customers 5,988 1,199 75 839 8,101 Total 13,847 1,488 75 860 16,271 Timing of revenue recognition Goods and services transferred at a point of time 13,636 1,388 - 860 15,884 Goods and services transferred over time 211 100 75 - 386 Total 13,847 1,488 75 860 16,271 Group Q3 2024 Field of operations SEK m Healthcare equipment Life science Real estate Gripping and moving solutions Total Geographical market Sweden 232 35 49 20 337 Scandinavia, excl. Sweden 383 2 - 19 404 Europe, excl. Scandinavia 3,398 115 - 334 3,847 U.S. 8,898 328 - 244 9,471 North America, excl. U.S. 326 28 - 41 396 South America 121 6 - 28 155 Africa 95 1 - 2 98 Australia 320 5 - 9 334 Asia, excl. China 427 27 - 47 501 China 87 10 - 94 192 Total 14,288 557 49 839 15,733 Category Sales of products 13,562 353 - 825 14,740 Sales of services 707 204 - 14 925 Revenues from leasing 16 - 49 - 65 Other income 2 1 - - 3 Total 14,288 557 49 839 15,733 Sales channels Through distributors 8,277 245 - 143 8,665 Directly to customers 6,011 312 49 696 7,068 Total 14,288 557 49 839 15,733 Timing of revenue recognition Goods and services transferred at a point of time 14,043 513 - 839 15,396 Goods and services transferred over time 245 44 49 - 337 Total 14,288 557 49 839 15,733 ===== SIDA 28 ===== INVESTOR Q3 2025 – 28 Group 9/30 2025 Field of operations SEK m Healthcare equipment Life science Real estate Gripping and moving solutions Total Geographical market Sweden 829 118 216 85 1,247 Scandinavia, excl. Sweden 1,185 12 - 51 1,248 Europe, excl. Scandinavia 9,985 596 - 1,023 11,604 U.S. 26,330 1,532 - 854 28,716 North America, excl. U.S. 953 99 - 103 1,155 South America 387 40 - 69 496 Africa 320 27 - 5 352 Australia 891 32 - 23 947 Asia, excl. China 932 171 - 149 1,251 China 644 39 - 341 1,025 Total 42,457 2,666 216 2,701 48,040 Category Sales of products 40,526 2,003 - 2,664 45,193 Sales of services 1,888 662 - 37 2,587 Revenues from leasing 39 - 212 - 251 Other income 5 1 3 - 9 Total 42,457 2,666 216 2,701 48,040 Sales channels Through distributors 23,827 788 - 736 25,352 Directly to customers 18,630 1,878 216 1,965 22,688 Total 42,457 2,666 216 2,701 48,040 Timing of revenue recognition Goods and services transferred at a point of time 42,002 2,492 - 2,701 47,195 Goods and services transferred over time 455 174 216 - 845 Total 42,457 2,666 216 2,701 48,040 Group 9/30 2024 Field of operations SEK m Healthcare equipment Life science Real estate Gripping and moving solutions Total Geographical market Sweden 736 113 156 76 1,082 Scandinavia, excl. Sweden 1,184 10 - 60 1,254 Europe, excl. Scandinavia 10,214 325 - 992 11,531 U.S. 26,423 961 - 692 28,075 North America, excl. U.S. 971 74 - 120 1,164 South America 343 11 - 74 428 Africa 366 3 - 9 378 Australia 900 14 - 20 934 Asia, excl. China 994 83 - 153 1,230 China 469 21 - 243 733 Total 42,599 1,614 156 2,439 46,809 Category Sales of products 40,723 1,163 - 2,400 44,285 Sales of services 1,827 451 - 39 2,317 Revenues from leasing 43 - 156 - 198 Other income 7 1 1 - 9 Total 42,599 1,614 156 2,439 46,809 Sales channels Through distributors 24,172 666 - 615 25,453 Directly to customers 18,427 949 156 1,824 21,356 Total 42,599 1,614 156 2,439 46,809 Timing of revenue recognition Goods and services transferred at a point of time 42,077 1,475 - 2,439 45,991 Goods and services transferred over time 523 139 156 - 818 Total 42,599 1,614 156 2,439 46,809 ===== SIDA 29 ===== INVESTOR Q3 2025 – 29 Reconciliations of significant Alternative performance measures In the financial statements issued by Investor, Alternative performance measures (APMs) are disclosed, which complete measures that are defined or specified in the applicable financial reporting framework, such as revenue, profit or loss or earnings per share. APMs are disclosed when they complement performance measures defined by IFRS. The basis for disclosed APMs are that they are used by management to evaluate the financial performance and thus believed to give analysts and other stakeholders valuable information. Investor AB discloses the definitions of all APMs used on http://www.investorab.com/investors- media/financials/definitions and on pages 166-168 in the Annual report 2024. Below reconciliations of significant APMs to the most directly reconcilable line item, subtotal or total presented in the financial statements of the corresponding period are disclosed. Gross cash Gross cash or Investor’s cash and readily available placements are defined as the sum of cash and cash equivalents, short-term investments and interest-bearing current and long-term receivables. Deductions are made for items related to subsidiaries within Patricia Industries. Group 9/30 2025, SEK m Consolidated balance sheet Deductions related to Patricia Industries Investor’s gross cash Group 12/31 2024, SEK m Consolidated balance sheet Deductions related to Patricia Industries Investor’s gross cash Other financial investments 10,368 -584 9,783 Other financial investments 3,528 -554 2,974 Cash, bank and short- term investments 22, 282 -8,350 13,932 Cash, bank and short- term investments 33,552 -8,579 24,973 Gross cash 32,650 -8,934 23,716 Gross cash 37,080 -9,133 27,947 Gross debt Gross debt is defined as interest-bearing current and long-term liabilities, including pension liabilities, less derivatives with positive value related to the loans. Deductions are made for items related to subsidiaries within Patricia Industries. Group 9/30 2025, SEK m Consolidated balance sheet Deductions related to Patricia Industries Investor’s gross debt Group 12/31 2024, SEK m Consolidated balance sheet Deductions related to Patricia Industries Investor’s gross debt Receivables included in net debt 1,824 -649 1,174 Receivables included in net debt 938 -360 578 Loans -115,541 63,302 -52,238 Loans -98,966 58,364 -40,602 Provision for pensions -976 862 -114 Pr ovision for pensions -1,026 909 -117 Gross debt -114,693 63,515 -51,177 Gross debt -99,054 58,913 -40,141 Net debt Gross debt less gross cash at balance sheet date. Group 9/30 2025, SEK m Group 12/31 2024, SEK m Investor’s gross cash -23,716 Investor’s gross cash -27,947 Investor’s gross debt 51,177 Investor’s gross debt 40,141 Investor’s net debt 27,462 Investor’s net debt 12,194 Total assets The net of all assets and liabilities not included in net debt. Total reported assets are based on reported values according to IFRS. Total adjusted assets are adjusted for estimated market values for Patricia Industries’ major subsidiaries and partner-owned investments. Group 9/30 2025, SEK m Consolidated balance sheet Deductions related to non- controlling interest Investor’s net asset value Group 12/31 2024, SEK m Consolidated balance sheet Deductions related to non- controlling interest Investor’s net asset value Equity 899,534 -309 899,225 Equity 819,752 -388 819,364 Investor’s net debt 27,462 Investor’s net debt 12,194 Total reported assets 926,687 Total reported assets 831,558 Adjustment for estimated market value Patricia Industries holdings 128,735 Adjustment for estimated market value Patricia Industries holdings 150,392 Total adjusted assets 1,055,422 Total adjusted assets 981,951 ===== SIDA 30 ===== INVESTOR Q3 2025 – 30 Net debt ratio (leverage) Net debt ratio or leverage is defined as Net debt/Net cash as a percentage of total adjusted assets. The target leverage range is 0-10 percent (net debt to total adjusted assets) over a business cycle. Group 9/30 2025, SEK m Net debt ratio   Group 12/31 2024, SEK m Net debt ratio Investor’s net debt 27,462 = 2.6% Investor’s net debt 12,194 = 1.2% Total adjusted assets 1,055,422 Total adjusted assets 981,951 Reported net asset value Reported net asset value is equal to Investor’s net asset value and equity attributable to owners of the Parent company. Adjusted net asset value Net asset value based on estimated market values for Patricia Industries’ major subsidiaries and partner-owned investments. The estimated market values are mainly based on valuation multiples, typically Enterprise value (EV)/Last 12 months’ operating profit, for relevant listed peers and indices. More information about the assessment basis can be found in section Patricia Industries - valuation overview on page 8 and Patricia Industries, overview of estimated market values on page 33. In the table below there are a reconciliation between Reported net asset value and Adjusted net asset value. More details regarding the differences can be found in the table Net asset value overview on page 4. Group 9/30 2025, SEK m Group 12/31 2024, SEK m Reported net asset value 899,225 Reported net asset value 819,364 Reported value for net assets Patricia Industries -80,757 Reported value for net assets Patricia Industries -72,716 Estimated market value Patricia Industries holdings 209,492 Estimated market value Patricia Industries holdings 223,109 Adjusted net asset value 1,027,960 Adjusted net asset value 969,756 Reported net asset value, SEK per share Equity attributable to shareholders of the Parent company in relation to the number of shares outstanding at the balance sheet date. Group 9/30 2025, SEK m Net asset value, SEK per share Group 12/31 2024, SEK m Net asset value, SEK per share Investor’s reported net asset value 899,225 = 294 Investor’s reported net asset value 819,364 = 268 Number of shares, excluding own shares 3,062,899,113 Number of shares, excluding own shares 3,063,031,333 Adjusted net asset value, SEK per share Total assets, including estimated market values for Patricia Industries’ major subsidiaries and partner-owned investments, less net debt in relation to the number of shares outstanding at the balance sheet date. Group 9/30 2025, SEK m Net asset value, SEK per share Group 12/31 2024, SEK m Net asset value, SEK per share Investor’s adjusted net asset value 1,027,960 = 336 Investor’s adjusted net asset value 969,756 = 317 Number of shares, excluding own shares 3,062,899,113 Number of shares, excluding own shares 3,063,031,333 ===== SIDA 31 ===== INVESTOR Q3 2025 – 31 Patricia Industries, key figures overview1) Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 FY Q4 Q3 2025 2025 2025 2024 2024 2024 2024 2024 2023 2023 2023 Mölnlycke (EUR m) Sales 508 537 519 2,064 546 506 514 499 1,923 505 464 Sales growth, % 0 5 4 7 8 9 8 4 5 6 -1 Organic growth, constant currency, % 3 7 3 7 8 9 8 5 8 9 4 EBITDA 151 140 140 595 158 144 146 147 545 140 135 EBITDA, % 29.8 26.1 26.9 28.8 28.9 28.5 28.5 29.4 28.3 27.7 29.0 EBITA2) 133 121 121 523 140 127 130 126 480 123 118 EBITA, % 26.3 22.5 23.3 25.3 25.6 25.1 25.3 25.3 25.0 24.4 25.5 Operating cash flow 128 88 48 453 132 118 115 87 457 180 111 Net debt 1,810 1,894 1,779 1,796 1,796 1,526 1,610 1,477 1,510 1,510 1,408 Employees 8,630 8,965 8,725 8,530 8,530 8,4 00 8,425 8,680 8, 425 8,425 8,570 Laborie (USD m) Sales 121 121 115 436 115 112 108 102 359 96 89 Sales growth, % 8 12 13 22 19 26 21 21 6 9 5 Organic growth, constant currency, % 7 10 14 21 18 25 21 21 5 7 4 EBITDA 41 39 35 133 37 36 31 29 105 22 29 EBITDA, % 33.6 32.7 30.9 30.4 32.3 31.9 28.9 28.2 29.4 23.0 33.0 EBITA2) 39 38 33 126 36 34 29 27 97 19 28 EBITA, % 32.3 31.1 29.1 29.0 31.2 30.5 27.2 26.7 27.1 19.4 31.1 Operating cash flow 36 35 23 87 26 27 22 12 71 22 15 Net debt 343 366 376 390 390 411 426 431 435 435 439 Employees 1,070 1,040 1,045 1,060 1,060 1,090 1,070 1,005 985 985 930 Nova Biomedical (USD m) Sales 154 159 171 621 160 160 144 157 Sales growth, % -4 10 8 9 11 14 6 5 Organic growth, constant currency, % -4 10 8 9 11 14 6 5 EBITDA 46 53 48 185 50 48 40 47 EBITDA, % 29.7 33.2 28.0 29.8 31 .1 29.9 27.9 30.1 EBITA2) 41 50 44 171 46 44 37 44 EBITA, % 26.6 31.3 26.0 27.5 28.9 27.6 25.4 27.8 Operating cash flow 42 n/a n/a n/a n/a n/a n/a n/a Net debt 792 n/a n/a n/a n/a n/a n/a n/a Employees 1,890 1,945 1,930 1,930 1,930 1,890 1,855 1,835 Sarnova (USD m) Sales 290 284 284 1,069 271 27 9 260 259 989 251 247 Sales growth, % 4 10 9 8 8 13 5 6 8 2 3 Organic growth, constant currency, % 3 7 2 3 1 5 0 6 8 2 3 EBITDA 55 53 50 173 45 52 36 39 157 40 44 EBITDA, % 18.9 18.8 17.7 16.1 16.8 18.7 13.8 15.1 15.9 15.9 17.7 EBITA2) 47 48 45 152 41 46 31 34 137 34 39 EBITA, % 16.3 17.0 15.9 14.2 15.0 16.7 11.9 13.1 13.8 13.6 15.7 Operating cash flow 28 26 36 139 41 53 27 19 131 16 36 Net debt 817 784 704 723 723 733 757 462 474 474 479 Employees 1,560 1,540 1,525 1,515 1,515 1,515 1,465 1,440 1,430 1,430 1,420 Permobil (SEK m) Sales 1,537 1,515 1,536 6,518 1,744 1,652 1,639 1,483 6,000 1,693 1,586 Sales growth, % -7 -8 4 9 3 4 16 13 14 10 12 Organic growth, constant currency, % 0 0 3 7 3 5 12 10 9 6 8 EBITDA 366 355 333 1,506 375 430 377 324 1,322 404 401 EBITDA, % 23.8 23.4 21.7 23.1 21.5 26 .0 23.0 21.8 22.0 23.8 25.3 EBITA2) 315 300 277 1,288 317 375 323 273 1,104 341 349 EBITA, % 20.5 19.8 18.0 19.8 18.2 22.7 19.7 18.4 18.4 20.1 22.0 Operating cash flow 347 167 239 1,065 362 296 259 147 1,049 399 271 Net debt 4,440 4,753 3,393 3,774 3,774 3,74 0 3,826 3,340 3,206 3,206 3,758 Employees 1,990 1,990 2,005 2,030 2,030 2,03 5 2,020 1,935 1,920 1,920 1,880 Piab Group (SEK m) Sales 860 883 957 3,446 1,007 839 813 787 3,083 810 765 Sales growth, % 2 9 22 12 24 10 3 9 26 22 23 Organic growth, constant currency, % 2 1 7 3 7 5 2 -3 7 8 6 EBITDA 239 250 259 928 304 214 200 210 848 195 225 EBITDA, % 27.8 28.3 27.1 26.9 30.2 25.5 24.6 26.7 27.5 24.1 29.4 EBITA2) 201 212 218 774 260 176 162 176 729 161 194 EBITA, % 23.4 24.0 22.8 22.5 25.8 21.0 19.9 22.4 23.6 19.9 25.3 Operating cash flow 180 172 193 658 281 147 139 91 687 177 197 Net debt 3,310 3,375 3,400 3,50 6 3,506 3,529 2,988 2,818 2,649 2,649 2,945 Employees 1,515 1,505 1,475 1,420 1,420 1,435 1,225 1,210 1,220 1,220 1,210 ===== SIDA 32 ===== INVESTOR Q3 2025 – 32 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 FY Q4 Q3 2025 2025 2025 2024 2024 2024 2024 2024 2023 2023 2023 BraunAbility (USD m) Sales 289 299 257 1,072 239 26 5 302 266 1,090 280 272 Sales growth, % 9 -1 -3 -2 -15 -2 5 6 17 16 8 Organic growth, constant currency, % 9 -1 -3 -2 -15 -2 5 6 17 16 8 EBITDA 42 41 31 120 17 29 39 35 127 27 30 EBITDA, % 14.6 13.8 12.2 11.2 6.9 11.0 13.1 13.2 11.7 9.7 11.1 EBITA2) 37 36 26 95 8 24 34 30 107 22 25 EBITA, % 12.7 12.0 10.1 8.9 3.2 8.9 11.3 11.3 9.8 7.8 9.3 Operating cash flow 26 54 10 75 14 29 38 -7 83 29 30 Net debt 341 365 408 413 413 417 442 259 246 246 269 Employees 1,935 1,935 1,915 1,870 1,870 1,965 2,025 2,000 2,000 2,000 2,005 Vectura (SEK m) Total income 96 95 85 245 68 58 55 65 336 89 81 Total income growth, % 65 73 32 -27 -24 -28 -33 -23 11 14 9 EBITDA 59 52 46 132 37 38 25 32 227 76 55 EBITDA, % 61.7 55.2 54.1 53.7 54.4 65.3 46.0 48.9 67.6 85.6 67.9 EBITA adjusted2) -19 -21 18 15 4 7 3 1 71 30 14 EBITA adjusted, % -19.7 -21.8 20.9 6.2 6.4 12.5 4.7 1.7 21.2 33.8 17.4 Operating cash flow -113 -259 -394 -1,570 -290 -302 -445 -533 -1,517 -469 -349 External net debt 5,123 5,232 4,860 3,283 3,283 2,60 3 2,216 1,690 3,387 3,387 2,845 Property portfolio value 8,874 8,490 10,664 Employees 40 40 40 40 40 40 40 45 45 45 50 Atlas Antibodies (SEK m) Sales 61 66 76 286 69 68 71 79 371 82 70 Sales growth, % -9 -7 -3 -23 -16 -4 -35 -29 -7 -16 -30 Organic growth, constant currency, % -4 -2 -3 -23 -17 0 -35 -30 -13 -18 -36 EBITDA 14 17 24 96 21 20 24 31 148 31 20 EBITDA, % 22.4 25.9 31.3 33.5 30.8 29.0 33.4 40.0 39.8 37.3 28.7 EBITA2) 6 9 16 63 13 11 15 23 114 22 11 EBITA, % 9.2 13.7 20.8 21.9 18.9 15.9 21.7 29.8 30.8 26.2 15.9 Operating cash flow 10 6 20 71 21 6 14 30 40 -10 -14 Net debt 358 363 367 377 377 399 397 356 373 373 364 Employees 105 105 105 105 105 110 105 105 120 120 120 Tre Skandinavien Sales, SEK m 3,191 3,061 3,051 12,485 3,348 3,079 3,021 3,03 7 12,545 3,434 3,086 Sweden, SEK m 2,103 2,007 1,977 8,212 2,211 2,01 9 1,991 1,992 8,091 2,261 2,010 Denmark, DKK m 736 718 716 2,790 739 690 670 691 2,899 768 679 EBITDA, SEK m 1,181 1,047 1,080 4,244 1,053 1,131 1,045 1,016 3,977 1,026 1,094 Sweden, SEK m 844 756 784 3,045 757 805 746 737 3,062 910 771 Denmark, DKK m 228 198 198 783 192 212 195 184 588 72 204 EBITDA, % 37.0 34.2 35.4 34.0 31.4 36 .7 34.6 33.4 31.7 29.9 35.5 Sweden 40.1 37.6 39.6 37.1 34.2 39.9 37.5 37.0 37.8 40.3 38.3 Denmark 31.0 27.6 27.6 28.0 26.0 30 .7 29.0 26.6 20.3 9.4 30.0 Net debt, SEK m 5,690 6,125 6,623 6,950 6,950 6,806 7,110 7,344 7,456 7,456 7,210 Employees 1,865 1,900 1,880 1,895 1,895 1,885 1,865 1,830 1,800 1,800 1,775 1) For information regarding Alternative Performance Measures in the table, see page 18. Definitions can be found on Investor’s website. 2) EBITA is defined as operating profit before acquisition-related amortizations. ===== SIDA 33 ===== INVESTOR Q3 2025 – 33 Valuation methodology Listed Companies Share price (bid) for the class of shares held by Investor, with the exception of Saab, Electrolux and Electrolux Professional for which the most actively traded share class is used. Ownership calculated in accordance with the disclosure of regulations of Sweden’s Financial Instruments Trading Act (LHF). ABB, AstraZeneca, Nasdaq and Wärtsilä in accordance with Swiss, British, U.S. and Finnish regulations. Includes market value of derivatives related to investments if applicable. Patricia Industries Subsidiaries Reported value based on the acquisition me thod. As supplementary information, subsidiaries are also presented at estimated market values, mainly based on valuation multiples for relevant listed peers and indices. Other methodologies may also be used, for example relating to real estate assets. New platform investments and major add-on acquisitions normally valued at invested amount during the first 18 months following the acquisition. Partner-owned investments Reported value based on the equity method. As supplementary information, partner-owned investments are also presented at estimated market values, mainly based on valuation multiples for relevant listed peers and indices. Financial investments Unlisted holdin gs at multiple or third-party valuation, listed shares at share price (bid). Investments in EQT Unlisted holdings at multiple or third-party valuation, listed shares at share price (bid). Patricia Industries, overview of estimated market values Supplementary information In addition to reported values, which are in accordance with IFRS, Investor provides estimated market values for the wholly-owned subsidiaries and partner-owned investments within Patricia Industries in order to facilitate the evaluation of Investor’s net asset value. This supplementary, non-GAAP information also increases the consistency between the valuation of Listed Companies and our major wholly-owned subsidiaries and partner-owned Tre Skandinavien. Estimated market values While the estimated market values might not necessarily reflect our view of the intrinsic values, they reflect how the stock market values similar companies. Methodology The estimated market values are mainly based on valuation multiples (median), typically Enterprise value (EV)/Last 12 months’ operating profit, for relevant listed peers and indices. We define EV as quarterly volume- weighted average share price (VWAP) plus closing date net debt. While we focus on EBITA when evaluating the performance of our companies, for valuation purposes, EBITDA multiples are more commonly available, and therefore often used. From the estimated EV, net debt is deducted, and the remaining equity value is multiplied with Patricia Industries’ share of capital. Adjustments Operating profit is adjusted to reflect, for example, pro forma effects of completed add-on acquisitions and certain non-recurring items. An item is only viewed as non-recurring if it exceeds a certain amount set for each company, is unlikely to affect the company again, and does not result in any future benefit or cost. Acquisitions made less than 18 months ago are normally valued at cost. ===== SIDA 34 ===== INVESTOR Q3 2025 – 34 Investor in Brief Investor AB, founded by the Wallenberg family in 1916, creates value for people and society by building strong and sustainable companies. Through substantial ownership and board participation, we drive initiatives that we believe create value and support our companies to remain or become best-in-class. Our portfolio is organized in three business areas: Listed Companies, Patricia Industries and Investments in EQT. Our ultimate target Our ultimate target is to generate an attractive total return. Our long-term return requirement is the risk free interest rate plus an equity risk premium, in total 8-9 percent annually. We create value for people and society by building strong and sustainable businesses