===== SIDA 1 ===== STABLE DEVELOPMENT IN UNCERTAIN TIMES SKISTAR INTERIM REPORT SEPTEMBER 2025-MAY 2026 ===== SIDA 2 ===== SUMMARY COMMENT FROM THE CEO FINANCIAL OVERVIEW SUSTAINABILITY OTHER INFORMATION FINANCIAL REPORTING NOTES DEFINITIONS SKISTAR IN BRIEF SKISTAR INTERIM REPORT SEPTEMBER 2025-MAY 2026 THIRD QUARTER • Net sales amounted to SEK 1,441 million (1,375), an increase of SEK 66 million, 5 percent. • Operating profit amounted to SEK 347 million (377), a decrease of SEK 30 million, 8 percent. • Operating profit adjusted for capital gains from exploitation assets amounted to SEK 346 million (347), a decrease of SEK 1 m illion, 0 percent. • Capital gains from exploitation assets were included with SEK 1 million (30). • Cash flow from operating activities amounted to SEK -368 million (-460), an increase of SEK 92 million. • Basic and diluted earnings per share amounted to SEK 3.43 (3.82), a decrease of 10 percent. FIRST NINE MONTHS • Net sales amounted to SEK 4,663 million (4,348), an increase of SEK 315 million, 7 percent. • Operating profit amounted to SEK 1,146 million (1,095), an increase of SEK 51 million, 5 percent. • Operating profit, adjusted for capital gains from exploitation assets, amounted to SEK 1,145 million (1,049), an increase of SEK 96 million, 9 percent. • Capital gains from exploitation assets were included with SEK 1 million (46). • Cash flow from operating activities amounted to SEK 1,399 million (1,224), an increase of SEK 175 million • Basic and diluted earnings per share amounted to SEK 10.88 (10.40), an increase of 5 percent. SIGNIFICANT EVENTS DURING AND AFTER THE PERIOD • Booking volumes for the winter season 2026/27, measured as the number of overnight stays booked through SkiStar´s mediated accomodation, are up 3 percent compared with the same time of the previous year. • Ahead of the 2026/27 winter season the eagerly awaited Tusenmetersliften (the Thousand-Metre Lift) in Åre will be rebuilt. The design will be updated and parts of the lift route will be new. • Ahead of the 2026/27 winter season significant investments in snow production are planned, including 489 new snow cannons at our destinations. This is expected to have a significant impact on snow reliability and enable extended opening times. Further information is available from: Stefan Sjöstrand, CEO tel +46 (0)280 841 60 Sara Jinnerot Uggelberg, CFO tel +46 (0)280 841 60 SUMMARY, SEK MILLION 3 MONTHS 9 MONTHS FULL YEAR 1 Mar – 31 May 1 Sep- 31 May 1 Sep – 31 Aug 2025/26 2024/25 2025/26 2024/25 2024/25 Net sales 1,441 1,375 4,663 4,348 4,574 Operating income 1,456 1,378 4,683 4,366 4,596 Operating profit 347 377 1,146 1,095 785 Operating profit, adjusted for capital gain from exploitation assets 346 347 1,145 1,049 739 Profit/loss after tax 269 299 852 814 552 Basic and diluted earnings per share, SEK 3.43 3.82 10.88 10.40 7.05 Cash flow from operating activities -368 -460 1,399 1,224 1,063 Operating margin, % 24 27 24 25 17 Equity/assets ratio, % 52 49 52 49 45 Equity/assets ratio, excluding IFRS 16, % 67 64 67 64 59 Net interest-bearing debt excluding IFRS 16 1,112 1,328 1,112 1,328 1,711 2 ===== SIDA 3 ===== SUMMARY COMMENT FROM THE CEO FINANCIAL OVERVIEW SUSTAINABILITY OTHER INFORMATION FINANCIAL REPORTING NOTES DEFINITIONS SKISTAR IN BRIEF We note that the winter season once again delivered a solid performance, with an increase in the number of skier days sold. The strength of our destinations, bolstered by our investments in snow reliability and the development of attractive holiday experiences, enables our core operation to remain strong and mountain holidays remain popular. COMMENTS FROM THE CEO STABLE DEVELOPMENT IN UNCERTAIN TIMES SKISTAR INTERIM REPORT SEPTEMBER 2025-MAY 2026 ” Net sales for the quarter amounted to SEK 1,441 million, an increase of 5 percent on the same period in the previous year. However, the results for the quarter were adversely affected by the continued geopolitical uncertainty, which contributed to weaker than expected performance. Operating profit amounted to SEK 347 million, a decrease of 8 percent. The decline was primarily due to increased costs as a result of higher prices for HVO diesel and energy, as well as the impact of cautious Easter bookings among guests, something we tried to counteract by increasing our targeted marketing efforts. The absence of capital gains in the period also adversely affected operating profit. However, adjusted for capital gains from development and exploitation assets, operating profit was unchanged compared to the same period in the previous year. Operating profit for the nine-month period amounted to SEK 1,146 million, an increase of 5 percent on the same period in the previous year. Adjusted for capitals gains from development and exploitation assets in the previous year, operating profit increased by SEK 96 million, or 9 percent. The property market has remained subdued this financial year. We, therefore, did not report any capital gains on property transactions in the first nine months, compared with capital gains of around SEK 46 million in the corresponding period in the previous financial year. At the same time, we continue to develop our project portfolio and see good opportunities for long- term value creation in our property and destination development projects. Looking back on the 2025/26 winter season, it is clear that SkiStar once again delivered a stable season. The number of skier days sold increased by 0.5 percent to 5,446,000, despite weather challenges during parts of the winter. This shows the strength of our offerings and the importance of our investments in snow reliability, as well as our long-term efforts to develop attractive holiday experiences. Our core operation is strong and interest in mountain holidays remains high. By continuously investing in the guest experience, digitalisation and the attractiveness of our destinations, we strengthen our competitiveness and lay the foundation for long-term growth. We are now focusing on the summer season. Interest in active holiday experiences in the mountains remains, and we see a positive development in booking volume for the summer; measured as the number of overnight stays in SkiStar’s mediated accommodation, this is up 3 percent year-on-year. In recent years, we have focused consciously on developing our year-round offer, with a wider range of activities and more experiences for families, couples and groups. Our holiday packages at Åre, Sälen and Trysil, which offer guests a simple and attractive way of combining accommodation, activities and experiences, are a key part of this work. This initiative strengthens both the availability and value of our offering and helps to attract more guests outside the winter season. By continuing to develop our sites as leading destinations all year round, we strengthen SkiStar’s position and create new opportunities for growth. Looking ahead to the coming winter season, we can see an increase in booking volume, measured as the number of overnight stays in SkiStar’s mediated accommodation; bookings are up 3 percent on the corresponding period in the previous year. During the snowless season, we look forward to working on the investments that we have mentioned, that is, snow production and the eagerly awaited Thousand-Metre Lift in Åre. These investments will further improve the skiing experience of our guests, who will also be able to enjoy our extended snow guarantee – the best and most extensive in Scandinavia. Following the successful launch of affordable destination passes last year, we will now be launching additional discounted SkiPass options for Duved and Tegefjäll in Åre. I would like to end by extending my warmest thanks to our employees, guests, partners and shareholders for your continued commitment and trust. Together, we now have another stable winter season behind us and look forward with confidence to the summer and the coming winter. Stefan Sjöstrand, CEO 3 ===== SIDA 4 ===== SUMMARY COMMENT FROM THE CEO FINANCIAL OVERVIEW SUSTAINABILITY OTHER INFORMATION FINANCIAL REPORTING NOTES DEFINITIONS SKISTAR IN BRIEF THE GROUP’S PERFORMANCE MARCH 2026 – MAY 2026 Revenue in the third quarter amounted to SEK 1,456 million (1,378). Net sales increased by SEK 66 million to SEK 1,441 million (1,375), an increase of 5 percent on the same period in the previous year. SkiPass revenue in the period amounted to SEK 648 million (634), an increase of SEK 14 million or 2 percent. Several price promotions were carried out before Easter to increase sales which attributed negatively to the margin. Accommodation revenue also increased by 1 percent to SEK 372 million (369). Sales in sporting goods stores increased to SEK 96 million (89) in the period, an increase of 7 percent. Changes in the NOK/SEK exchange rate had a positive effect of SEK 26 million (-26), or 2 percent, on net sales. The positive exchange difference was due to a stronger Norwegian krone in the third quarter compared with the accumulated situation over the financial year. Of sales in the third quarter, SEK 50 million (3) was attributable to acquisitions, most of which comprised Sälens Högfjällshotell (Topeja AB). Organic growth, excluding exchange rate effects and acquisitions, was negative in the quarter and amounted to SEK -11 million (-68), corresponding to -1 percent (-5). Other income during the third quarter has been positively affected by an insurance compensation of SEK 11 million from a demolished ski bridge in Vemdalen. Operating profit fell by SEK 30 million to SEK 347 million (377), corresponding to a decrease of -8 percent. Adjusted for capitals gains in the previous year, operating profit decreased by SEK 1 million. Merchandise costs were on a par with the previous year, with volume- related increases in accommodation and sporting goods stores offset by the positive effect of reversed impairments of approximately SEK 21 million of the value of rental equipment. Other external expenses amounted to SEK -310 million (-240), an increase of 29 percent. The quarter was impacted by increased energy and fuel costs. Selling expenses related to online sales of sporting goods and marketing costs related to price promotions were also higher. Personnel costs rose by 3 percent. Changes in the NOK/SEK exchange rate had a positive effect of SEK 9 million (-7) on operating profit. Share of profit of associates and joint ventures impacted profit by SEK 8 million (3). Depreciation/amortisation amounted to SEK -152 million (-144). Net financial items in the quarter amounted to SEK -11 million (-22), an improvement of SEK 11 million. Net financial items primarily comprised a change in the value of interest rate derivatives, which amounted to SEK 12 million (-2), and interest expense amounting to SEK -27 million (-21), including lease-related interest of SEK -16 million (-12) under IFRS 16. Exchange losses amounted to SEK -11 million (-9) and exchange gains amounted to SEK 13 million (18). The Group’s profit after tax amounted to SEK 269 million (299), a decrease of SEK 30 million or -10 percent. Operation of Mountain Resorts Revenue amounted to SEK 1,235 million (1,203). Net sales amounted to SEK 1,221 million (1,200), an increase of SEK 21 million, or 2 percent, on the same period in the previous year. During the quarter, the largest revenue category was SkiPass revenue, which amounted to SEK 648 million (634), an increase of SEK 14 million, or 2 percent. Accommodation revenue declined by SEK 4 million to SEK 267 million (271). The largest revenue category was sales in sporting goods stores, including online sales, which posted growth of 7 percent and increased by SEK 7 million to SEK 95 million (89). External expenses increased by 5 percent and amounted to SEK -794 million (-759). The increase in costs of merchandise and selling expenses was primarily due to a change in revenue mix. Depreciation/amortisation amounted to SEK -101 million (-103). Property Development and Exploitation Revenue amounted to SEK 23 million (21), while net sales declined to SEK 5 million (9). Revenue from other segments amounted to SEK 18 million (13). The changes in revenue were to some extent due to the fact that SkiStar took over the operation of new business units (Sälens Högfjällshotell) and restaurants, which meant that revenues were brought in-house. Share of profit of associates and joint ventures increased by SEK 5 million to SEK 8 million (3), primarily linked to the holding in Skiab Invest. Depreciation/amortisation increased to SEK -15 million (-7). Operating profit fell to SEK 1 million in the quarter (31). No material property transactions were carried out in the quarter, while property transactions resulting in a capital gain of SEK 30 million took place in the same period in the previous year. Operation of Hotels Revenue in the quarter amounted to SEK 215 million (166), up by SEK 49 million, of which SEK 46 million was due to the acquisition of the operations at Sälens Högfjällshotell (Topeja AB). Operating profit improved by SEK 1 million to SEK 20 million (19). Accommodation revenue increased by SEK 7 million, while sales from restaurants increased by SEK 22 million to SEK 72 million (50) in the quarter. Other revenue increased to SEK 34 million (14). External operating expenses increased by SEK 45 million to SEK -158 million (-113), of which SEK 27 million was attributable to Sälens Högfjällshotell. Housekeeping and property costs also increased. Seasonal effects SkiStar’s operations are subject to significant seasonal variations. Most revenue and earnings are generated in the second and third quarters. The number of days off during Christmas and New Year, and whether Easter falls early or late, also cause variations in earnings. Over half of the revenue is paid in advance. REVENUE AND EARNINGS IN THE THIRD QUARTER SKISTAR INTERIM REPORT SEPTEMBER 2025-MAY 2026 QUARTERLY VALUES, SEK MILLION 2025/26 2024/25 2023/24 2022/23 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Net sales 1,441 2,986 236 226 1,375 2,760 212 225 1,467 2,531 220 236 Operating profit/loss 347 1,277 -478 -310 377 1,200 -482 -279 418 1,066 -464 -239 4 ===== SIDA 5 ===== SUMMARY COMMENT FROM THE CEO FINANCIAL OVERVIEW SUSTAINABILITY OTHER INFORMATION FINANCIAL REPORTING NOTES DEFINITIONS SKISTAR IN BRIEF THE GROUP’S PERFORMANCE SEPTEMBER 2025 – MAY 2026 Revenue amounted to SEK 4,683 million (4,366). Net sales increased by SEK 315 million to SEK 4,663 million (4,348), an increase of 7 percent compared with the same period in the previous year. Changes in the NOK/SEK exchange rate had a negative effect of SEK - 20 million (-49) on net sales. Of the increase in sales in the first nine months of the financial year, SEK 122 million (3) was attributable to acquisitions, most of which comprised Sälens Högfjällshotell (Topeja AB). Organic growth, excluding exchange rate effects and acquisitions, was positive and amounted to SEK 213 million (175), corresponding to 5 percent (4). The underlying increase in sales in the period related to all main revenue streams except rental income, as an effect of our integrated business model. SkiPass revenue amounted to SEK 2,029 million (1,928), corresponding to an increase of 5 percent, while accommodation revenue rose by SEK 65 million to SEK 1,227 million (1,162). Revenue from sporting goods stores increased by 13 percent to SEK 459 million (405) in the first nine months of the financial year. Operating profit increased by SEK 51 million, or 5 percent, to SEK 1,146 million (1,095). The operating margin was 24 percent (25) in the period. Adjusted for capitals gains in the previous year, operating profit increased by SEK 96 million, corresponding to 9 percent. Changes in the NOK/SEK exchange rate had a negative effect of SEK -6 million (-14) on operating profit. Operating profit was impacted by share of profit from associates and joint ventures of SEK 13 million (10). No material property transactions took place in the period, and this entails a negative effect of SEK -45 million compared with the corresponding period in the previous year. Depreciation/amortisation amounted to SEK -437 million (-416 ). During the period, net financial items amounted to SEK -70 million (-73), an improvement of SEK 3 million. Net financial items primarily comprised a change in the value of interest rate derivatives, which amounted to SEK -1 million (4), and interest expense amounting to SEK -70 million (-77), including lease-related interest of SEK -37 million (-34) under IFRS 16. Exchange losses amounted to SEK -29 million (-44) and exchange gains amounted to SEK 28 million (39). The Group’s profit after tax amounted to SEK 852 million (814), an improvement of SEK 38 million, or 5 percent. Operation of Mountain Resorts Revenue amounted to SEK 4,030 million (3,831). Net sales amounted to SEK 4,010 million (3,812), an increase of SEK 198 million, or 5 percent, on the same period in the previous year. The increase in sales primarily occurred in the second quarter and stemmed mainly from SkiPass (up SEK 101 million), sporting goods stores (up SEK 54 million) and accommodation (up SEK 33 million). Operating profit improved by SEK 81 million to SEK 1,072 million (991), corresponding to 8 percent. Property Development and Exploitation Revenue amounted to SEK 74 million (60) and net sales to SEK 14 million (23). Revenue from other segments increased to SEK 61 million (37), which was partly due to acquisitions and new operations but also to the distribution of revenue over periods of time. Operating profit decreased by SEK 39 million to SEK 6 million (45) as a result of the fact that no material property transactions were carried out in the first nine months of the year, and this had a negative effect of SEK -45 million compared with the same period in the previous year. Operation of Hotels Revenue, which corresponded to net sales, amounted to SEK 639 million (512), an increase of SEK 127 million, or 25 percent, on the same period in the previous year. Of the increase, SEK 105 million, or 20 percent, was attributable to the acquired operations at Sälens Högfjällshotell. The remaining increase stemmed from accommodation and restaurant revenue. Operating profit increased by SEK 9 million to SEK 68 million (59). REVENUE AND EARNINGS IN THE FIRST NINE MONTHS SKISTAR INTERIM REPORT SEPTEMBER 2025-MAY 20265 ===== SIDA 6 ===== SUMMARY COMMENT FROM THE CEO FINANCIAL OVERVIEW SUSTAINABILITY OTHER INFORMATION FINANCIAL REPORTING NOTES DEFINITIONS SKISTAR IN BRIEF Cash flow Cash flow from operating activities after changes in working capital was SEK 1,399 million (1,224) for the period, an increase of SEK 175 million compared with the corresponding period in the previous year.The Group carried out significant investments at the beginning of the financial year and cash flow from investing activities in the first nine months of the year amounted to SEK -407 million (-295). In the previous year, the Group reported two major land sales that had a positive effect on cash flow of SEK 57 million, but there were no such transactions in the first nine months of the current financial year. Cash flow from financing activities amounted to SEK -954 million (-929). Liquidity and financing The Group’s cash and cash equivalents amounted to SEK 59 million (24) at the end of May. Unused credit facilities, including overdraft facilities and an RCF, amounted to SEK 1,660 million (246).The Group’s total available liquidity at the end of the period was SEK 1,719 million (271). Interest-bearing liabilities excluding IFRS 16 amounted to SEK 1,171 million (1,352), a decrease of SEK 181 million.Interest- bearing liabilities including IFRS 16 amounted to SEK 3,115 million (3,394), a decrease of SEK 279 million on the previous year. Total interest-bearing liabilities included lease liabilities in accordance with IFRS 16 of SEK 1,944 million (2,042), of which SEK 1,215 million (1,329) comprised lease liabilities to the partly owned joint venture holding Skiab Invest. The average interest rate during the period, including interest rate swaps but excluding IFRS 16, was 3.59 percent (3.90). Net interest-bearing debt, excluding IFRS 16, relative to EBITDA for the last twelve months was 0.9 (1.1). The equity/assets ratio increased to 52 percent (49). The equity/assets ratio excluding IFRS 16 was 67 percent (64). Tax Tax expense for the period amounted to SEK -224 million (-208) and was largely attributable to current tax. The effective tax rate was 20.8 percent (20.4). Investments Investments in the first nine months amounted to SEK 430 million (373) gross and SEK 407 million (295) net. The difference between gross and net is disposals. The increase in investments compared with the corresponding period in the previous year was primarily due to the large investments carried out in the first quarter of the year, ahead of the start to the season. Depreciation and amortisation for the same period amounted to SEK 437 million (416).Investments in the current financial year are expected to amount to around SEK 650 million. Personnel The average number of employees was 1,914 (1,909), an increase of 5 employees on the previous year. Personnel costs amounted to SEK 956 million (912). Related-party transactions Ekhaga Utveckling AB, which is the main owner of SkiStar with 47 percent of the votes and 24 percent of the capital as at 31 May 2026, is also the main owner of Peab, with which SkiStar has a business relationship. In the first nine months of the financial year, purchases from Peab amounted to SEK 4 million (12). Outstanding liabilities to Peab totalled SEK 1 million (1). Sales to Peab amounted to SEK 0 million (1) and outstanding receivables were SEK 0 million (1). Purchases from associates during the first nine months amounted to SEK 142 million (131) and outstanding liabilities to associates totalled SEK 19 million (18). Sales to associates amounted to SEK 7 million (39) and receivables from associates amounted to SEK 20 million (23), SEK 19 million (20) of which related to loans to associates. Current lease liabilities to associates under IFRS 16 amounted to SEK 1,215 million (1,329), and right-of-use assets amounted to SEK 1,129 million (1,252). In addition to the Group’s related-party transactions, the Parent Company carries out transactions with subsidiaries. Disclosures of related-party transactions and a description of their nature can be found in Note 35 of the 2024/25 Annual Report. Parent Company The Parent Company’s net sales amounted to SEK 3,025 million (2,980) and operating profit was SEK 621 million (619) in the first nine months. Net investments amounted to SEK 222 million (100). Outlook for summer 2025/26 Our focus on year-round operations is continuing and, so that we can step up a gear and add value for our guests, we have launched new offerings ahead of the summer in Åre, Sälen and Trysil with new summer experience packages comprising accommodation, activities and, in some cases, also travel, all of which can be booked together in one workflow. The focus is on complete solutions that are smooth, sustainable and affordable. Looking ahead of the 2026/27 winter season Ahead of the coming winter season, our booking volume was 3 percent higher year-on-year and fully 30 percent of the expected accommodation volume has been booked, which is according to plan. Ahead of the winter season a number of investments are being planned, one of the largest of which is an investment in snow production, including 489 new snow cannons at our destinations. This is a strategic investment that is expected to have a significant effect on snow reliability at our destinations throughout the entire season and will facilitate extended opening times. On the strength of this, we are also launching the best and most extensive snow guarantee in Scandinavia. In Åre, the popular and eagerly awaited Tusenmetersliften (Thousand-Metre Lift) will be rebuilt. The design will be updated, and parts of the lift route will be new, providing better links between the upper slopes. Following the successful launch in the previous year of affordable destination passes for Högfjället in Sälen and Klövsjö and Storhogna in Vemdalen, we will now be launching additional discounted SkiPass options for Duved and Tegefjäll in Åre. The destination passes can now also be purchased for longer periods; they were previously limited to day passes. FINANCIAL POSITIONS, TAXES AND INVESTMENTS ETC. SKISTAR INTERIM REPORT SEPTEMBER 2025-MAY 2026 6 ===== SIDA 7 ===== SUMMARY COMMENT FROM THE CEO FINANCIAL OVERVIEW SUSTAINABILITY OTHER INFORMATION FINANCIAL REPORTING NOTES DEFINITIONS SKISTAR IN BRIEF SUSTAINABILITY SKISTAR INTERIM REPORT SEPTEMBER 2025-MAY 2026 OTHER INFORMATION SkiStar Share The number of shareholders was 61,339 on 31 May 2026, which is an increase of 940 (1.6 percent) since 31 August 2025. SkiStar’s class B shares are listed on the Nasdaq Stockholm, Large Cap. The number of shares was 78,376,056, of which 74,728,056 are class B shares. The closing price of the SkiStar share was SEK 150.30 on 29 May 2026 which was the last day of trading during the period. Regulatory press releases during the quarter and after the end of the period • 11/06/2026 Invitation to conference call with web presentation of SkiStar AB’s interim report for the third quarter 2025/26 • 18/03/2026 SkiStar AB half-year report September 2025-February 2026 • 12/03/2026 Invitation to conference call with web presentation of SkiStar AB’s half-year report for 2025/26 The press releases are available in full at https://investor.skistar.com/en/nyheter/pressmeddelan den. Risks and uncertainties The risks and uncertainties described below apply to both the parent company and group. Like all companies and business operations, SkiStar is exposed to various risks related to the business. For SkiStar, it is important to identify the risks that may prevent the company from achieving defined targets and to determine whether the risks are in line with risk propensity. Where necessary, measures are taken to avoid, minimise or monitor identified risks. The purpose of risk management is to continuously assess and manage the risks that arise in the operations and to ensure that it forms the basis for successful sustainability work. SkiStar’s risk process, ownership, governance and management are discussed and evaluated in the company’s audit committee and board of directors. The most relevant risk factors and how they are managed are described in the annual and sustainability report and are grouped within sustainability risks, operational risks and financial risks. For a further description of risks and uncertainties, please refer to the risk paragraph on page 34 and note 32 in the Annual and sustainability report for 2024/25. News during the period Ecosystem & Impact (E1) During the period, we carried out joint clean -up days at all of SkiStar’s destinations in collaboration with Keep Sweden Tidy and Keep Norway Tidy. The initiative brought together employees and children and students from local schools and helped to improve both the guest experience and the local natural environment. During the clean-up day, SkiStar’s employees collected more than 6.5 tonnes of rubbish, compared with 8 tonnes in the previous year. The initiative is part of SkiStar’s efforts to reduce negative impact and increase engagement in sustainable destination development. All Swedish destinations participate in the collaboration with the WWF and SLAO in the Make Skiing More Wild initiative, the aim of which is to increase biodiversity in and around ski areas. In connection with the start of the summer season, the initiative now covers all Swedish destinations. Sälen joined during the period, the last destination to do so. The initiative includes measures to promote pollinators and create more varied habitats, thus contributing to mountain environments that are more sustainable long term. Dialogue & Engagement (S3) Through the collaboration with the recycling initiative Pantamera, nearly SEK 900,000 was raised in the period and donated to the organisation Friends. The initiative provides a link between recycling by guests and tangible benefit to the community. The initiative is in line with SkiStar’s ambition to contribute to safe and inclusive environments, both at and beyond our destinations. At a time when social challenges, such as bullying, are increasing, particularly in digital environments, this work is an important part of the Company’s long-term social responsibility. Public health (S4) SkiStar is striving to improve access to skiing and thus contribute to an active and healthy lifestyle. During the period, more than 109,000 (108,000) children and adults participated in SkiStar’s ski school training, an increase of 1 percent on the previous season. A solid foundational training contributes to a safer and more secure experience on the slopes . Awards and recognition During the period, SkiStar’s climate initiatives were recognised in Europe’s Climate Leaders 2026. For the first time, SkiStar was included on the list ‘Europe’s Climate Leaders 2026’, produced by Statista in association with the Financial Times. The ranking highlights European companies which have made significant progress in their climate efforts, while also developing their operations and achieving growth. About the sustainability section of this interim report This is a quarterly follow-up of SkiStar’s sustainability work and has not been prepared in accordance with Chapter 6, Section 1, of the Annual Accounts Act. An overview of the sustainability initiatives is published annually in the sustainability report. Read more at: https://investor.skistar.com/en/esg/esg . 7 ===== SIDA 8 ===== SUMMARY COMMENT FROM THE CEO FINANCIAL OVERVIEW SUSTAINABILITY OTHER INFORMATION FINANCIAL REPORTING NOTES DEFINITIONS SKISTAR IN BRIEF Condensed consolidated statement of comprehensive income SKISTAR INTERIM REPORT SEPTEMBER 2025-MAY 2026 3 MONTHS 9 MONTHS FULL YEAR 1 Mar -31 May 1 Sep – 31 May 1 Sep – 31 Aug SEK MILLION Note 2025/26 2024/25 2025/26 2024/25 2024/25 Operating income Net sales 3 1,441 1,375 4,663 4,348 4,574 Other income 15 3 20 18 22 Total operating income 1,456 1,378 4,683 4,366 4,596 Operating expenses Merchandise -333 -334 -1 135 -1,058 -1,134 Other external expenses -310 -240 -1,023 -941 -1,107 Personnel costs -323 -315 -956 -912 -1,062 Capital gains from exploitation assets 1 30 1 46 46 Share of profit/loss of joint ventures/associates 8 3 13 10 6 Depreciation and amortisation of assets -152 -144 -437 -416 -559 Operating profit/loss 347 377 1,146 1,095 785 Net financial items -11 -22 -70 -73 -101 Profit/loss before tax 336 355 1,076 1,022 684 Tax -67 -56 -224 -208 -132 Profit/loss for the period 269 299 852 814 552 3 MONTHS 9 MONTHS FULL YEAR 1 Mar – 31 May 1 Sep – 31 May 1 Sep – 31 Aug SEK MILLION 2025/26 2024/25 2025/26 2024/25 2024/25 Other comprehensive income Items that may be reclassified to profit or loss Change in fair value of cash flow hedges for the period/year 7 6 10 5 11 Deferred tax on cash flow hedges -1 -1 -2 -1 -2 Exchange differences on translation of foreign operations for the period/year 87 -17 104 -43 -35 Other comprehensive income for the period/year 92 -12 112 -39 -26 Total comprehensive income for the period/year 361 287 964 775 526 Profit/loss for the period attributable to: Shareholders of the Parent 269 299 853 815 553 Non-controlling interests - - - - -1 Profit/loss for the period 269 299 853 815 552 Comprehensive income for the period attributable to: Shareholders of the Parent 361 287 964 776 526 Non-controlling interests - - - -1 -1 Total comprehensive income for the period 361 287 964 775 526 Basic and diluted earnings per share, SEK 3.43 3.82 10.88 10.40 7.05 Number of shares outstanding at the end of the period 78,376,056 78,376,056 78,376,056 78,376,056 78,376,056 Average number of shares outstanding 78,376,056 78,376,056 78,376,056 78,376,056 78,376,056 As a result of a reclassification in the income statement, the following items have changed with effect from 1 September 2025: Revenue and costs relating to property exploitation are now recognised as a net amount on the line Capital gains from exploitation assets. They were previously reported as a gross amount under Net sales and Costs of sold interests in accommodation/exploitation assets. Direct costs that are re-invoiced are now recognised on the line Merchandise rather than under Other external expenses. Costs of sold interests in accommodation/SkiStar Vacation Club are now recognised on the line Merchandise rather than under Costs of sold interests in accommodation/exploitation assets. The comparative figures have been adjusted in accordance with the reclassifications, and the effects of the changes are shown in the tables in Note 6. 8 ===== SIDA 9 ===== SUMMARY COMMENT FROM THE CEO FINANCIAL OVERVIEW SUSTAINABILITY OTHER INFORMATION FINANCIAL REPORTING NOTES DEFINITIONS SKISTAR IN BRIEF Condensed consolidated statement of financial position SKISTAR INTERIM REPORT SEPTEMBER 2025-MAY 2026 ASSETS, SEK MILLION Note 31 May 2026 31 May 2025 31 Aug 2025 Non-current assets Intangible assets 268 260 253 Property, plant and equipment 5,081 4,807 4,884 Right-of-use assets 1,841 1,945 1,922 Investments in joint ventures/associates 801 775 775 Other investments and securities held as non- current assets 32 41 41 Long term derivatives 4 16 19 15 Deferred tax receivables 22 21 21 Other non-current receivables 33 38 39 Total non -current assets 8,093 7,906 7,952 Current assets Inventories 439 412 480 439 412 480 Short-term derivatives 4 10 1 3 Trade receivables 62 43 36 Tax receivables - - 24 Other current receivables 117 79 94 Prepaid expenses and accrued income 165 153 154 354 276 310 Cash and cash equivalents 59 24 20 Total current assets 852 712 811 TOTAL ASSETS 8,945 8,618 8,762 EQUITY AND LIABILITIES, SEK MILLION Note 31 May 2026 31 May 2025 31 Aug 2025 Equity Share capital 20 20 20 Other contributed capital 398 398 398 Reserves -50 -174 -162 Retained earnings, including profit/loss for the period 4,325 3,969 3,707 Equity attributable to shareholders of the Parent 4,692 4,212 3,963 Non-controlling interests - - - Total equity 4,692 4,213 3,963 Non-current liabilities Liabilities to credit institutions 985 156 1,387 Long-term leasing liabilities 1,734 1,853 1,829 Provisions for pensions 23 20 20 Long-term Derivatives 4 3 4 3 Deferred tax liabilities 222 218 220 Total non -current liabilities 2,966 2,250 3,458 Current liabilities Liabilities to credit institutions 163 1 177 324 Short-term lease liabilities 210 190 195 Short-term derivaties 4 1 5 3 Trade payables 184 153 243 Tax liabilities 149 131 63 Other current liabilities 250 235 310 Accrued expenses and deferred income 329 265 205 Total current liabilities 1,287 2,156 1,341 Total liabilities 4,253 4,405 4,799 TOTAL EQUITY AND LIABILITIES 8,945 8,618 8,762 9 ===== SIDA 10 ===== SUMMARY COMMENT FROM THE CEO FINANCIAL OVERVIEW SUSTAINABILITY OTHER INFORMATION FINANCIAL REPORTING NOTES DEFINITIONS SKISTAR IN BRIEF Condensed consolidated statement of changes in equity SKISTAR INTERIM REPORT SEPTEMBER 2025-MAY 2026 EQUITY ATTRIBUTABLE TO SHAREHOLDERS OF THE PARENT GROUP, SEK MILLION Share capital Other Contributed capital Translation reserves Hedging reserves Retained earnings and profit/loss for the year Total Non-controlling interests Totalt equity Opening equity, 1 Sep 2024 20 398 -126 -9 3,374 3,656 1 3,657 Profit/loss for the period 815 815 - 814 Other comprehensive income for the period -43 4 -39 - -39 Comprehensive income for the period -43 4 815 776 -1 775 Dividends -219 -219 -219 Closing equity, 31 May 2025 20 398 -169 -5 3,969 4,212 - 4,213 Opening equity, 1 Sep 2025 20 398 -162 - 3,707 3,963 - 3,963 Profit/loss for the period 853 853 - 852 Other comprehensive income for the period 103 8 111 - 111 Comprehensive income for the period 103 8 853 964 - 964 Dividends -235 -235 -235 Closing equity, 31 May 2026 20 398 -59 8 4,325 4,692 - 4,692 10 ===== SIDA 11 ===== SUMMARY COMMENT FROM THE CEO FINANCIAL OVERVIEW SUSTAINABILITY OTHER INFORMATION FINANCIAL REPORTING NOTES DEFINITIONS SKISTAR IN BRIEF Condensed consolidated statement of cash flows SKISTAR INTERIM REPORT SEPTEMBER 2025-MAY 2026 3 MONTHS 9 MONTHS FULL YEAR 1 Mar – 31 May 1 Sep – 31 May 1 Sep - 31 Aug SEK MILLION Note 2025/26 2024/25 2025/26 2024/25 2024/25 Operating activities Profit/loss after financial items 336 355 1,076 1,022 684 Adjustments for non-cash items 137 101 440 329 501 473 456 1,517 1,351 1,185 Tax paid -55 -53 -119 -107 -122 Changes in working capital -786 -862 1 -20 - Cash flow from operating activities* -368 -460 1,399 1,224 1,063 Investing activities Acquisition of businesses, net cash effect 5 - -20 -3 -20 -20 Acquisition of intangible assets -10 -12 -19 -18 -19 Acquisition of property, plant and equipment -67 -125 -408 -334 -509 Sale of property, plant and equipment 3 45 7 75 73 Changes in financial assets 7 2 16 2 2 Cash flow from investing activities -66 -109 -407 -295 -474 Financing activities Borrowings 139 630 317 810 2,107 Repayment of loans -10 -12 -908 -1,398 -2,316 Repayment of lease liability* -43 -48 -127 -122 -165 Dividend paid - - -235 -219 -219 Cash flow from financing activities 86 570 -954 -929 -¨593 Cash flow for the period -348 1 38 - -4 Cash and cash equivalents at start of period 406 23 20 25 25 Exchange differences - - - -1 -1 Cash & cash equivalents at end of period 59 24 59 24 20 * In the previous year, interest paid on lease liabilities was recognised on the line Repayment of lease liability. The comparative figures have now been corrected so that interest expense is instead included in Cash flow from operating activities. The adjustment amounts total SEK -12 million for the third quarter and SEK -34 million for the nine months and SEK -45 million for the full year 2024/25. 11 ===== SIDA 12 ===== SUMMARY COMMENT FROM THE CEO FINANCIAL OVERVIEW SUSTAINABILITY OTHER INFORMATION FINANCIAL REPORTING NOTES DEFINITIONS SKISTAR IN BRIEF The Group’s operating segments SKISTAR INTERIM REPORT SEPTEMBER 2025-MAY 2026 3 MONTHS 1 Mar 2025 – 31 May 2026 Operation of mountain resorts Property development and exploitation Operation of hotels Group eliminations Group total SEK MILLION Net sales 1,221 5 215 - 1,441 Other income 15 - - - 15 Income from other segments - 18 - -18 - Total operating income 1,235 23 215 -18 1,456 External operating expenses -794 -13 -158 - -965 Capital losses 3 -3 - - - Capital gains from exploitation assets - 1 - - 1 Share of profit/loss of joint ventures/associates - 8 - - 8 Depreciation and amortisation -101 -15 -36 - -152 Costs from other segments -17 - -2 18 - Total operating costs -909 -23 -196 18 -1,109 Operating profit/loss 326 1 20 - 347 Intangible assets 203 - 65 268 Property plant and equipment 3,756 779 547 5,081 Right-of-use assets 703 - 1,137 1,841 3 MONTHS 1 Mar 2024 - 31 May 2025 Operation of mountain resorts Property development and exploitation Operation of hotels Group eliminations Group total SEK MILLION Net sales 1,200 9 166 1,375 Other income 3 - - 3 Income from other segments - 13 - -13 - Total operating income 1,203 21 166 -13 1,378 External operating expenses -759 -16 -113 -889 Capital losses - - - - Capital gains from exploitation assets 30 30 Share of profit/loss of joint ventures/associates - 3 - 3 Depreciation and amortisation -103 -7 -34 -144 Costs from other segments -12 - - 13 - Total operating costs -875 10 -148 13 -1,000 Operating profit/loss 328 31 19 - 377 Intangible assets 195 - 66 260 Property plant and equipment 3,460 804 542 4,807 Right-of-use assets 682 1 1,262 1,945 As a result of a reclassification in the income statement, the following items have changed with effect from 1 September 2025: Revenue and costs relating to property exploitation are now recognised as a net amount on the line Capital gains from exploitation assets. They were previously reported as a gross amount under Net sales and Costs of sold interests in accommodation/exploitation assets. Direct costs that are re-invoiced are now recognised on the line Merchandise rather than under Other external expenses. Costs of sold interests in accommodation/SkiStar Vacation Club are now recognised on the line Merchandise rather than under Costs of sold interests in accommodation/exploitation assets. The comparative figures have been adjusted in accordance with the reclassifications. 12 ===== SIDA 13 ===== SUMMARY COMMENT FROM THE CEO FINANCIAL OVERVIEW SUSTAINABILITY OTHER INFORMATION FINANCIAL REPORTING NOTES DEFINITIONS SKISTAR IN BRIEF The Group’s operating segments SKISTAR INTERIM REPORT SEPTEMBER 2025-MAY 2026 9 MONTHS 1 Sep 2025 – 31 May 2026 Operation of mountain resorts Property development and exploitation Operation of hotels Group eliminations Group total SEK MILLION Net sales 4,010 14 639 4,663 Other income 20 - - 20 Income from other segments - 61 - -61 - Total operating income 4,030 74 639 -61 4,683 External operating expenses -2,609 -41 -460 -3,109 Capital losses -1 -3 - -4 Capital gains from exploitation assets - 1 - 1 Share of profit/loss of joint ventures/associates 1 12 - 13 Depreciation and amortisation -294 -36 -106 -437 Costs from other segments -56 - -5 61 - Total operating costs -2,958 -68 -571 61 -3,537 Operating profit/loss 1,072 6 68 - 1,146 Intangible assets 203 - 65 268 Property plant and equipment 3,756 779 547 5,081 Right-of-use assets 703 - 1,137 1,841 9 MONTHS 1 Sep 2024 - 31 May 2025 Operation of mountain resorts Property development and exploitation Operation of hotels Group eliminations Group total SEK MILLION Net sales 3,812 23 512 4,348 Other income 18 - - 18 Income from other segments 1 37 - -38 - Total operating income 3,831 60 513 -38 4,366 External operating expenses -2,513 -43 -351 -2,908 Capital losses -1 -2 -1 -3 Capital gains from exploitation assets 46 46 Share of profit/loss of joint ventures/associates 2 8 - 10 Depreciation and amortisation -291 -24 -101 -416 Costs from other segments -37 - -1 38 - Total operating costs -2,840 -15 -454 38 -3,271 Operating profit/loss 991 45 59 - 1,095 Intangible assets 195 - 66 260 Property plant and equipment 3,460 804 542 4,807 Right-of-use assets 682 1 1,262 1,945 13 ===== SIDA 14 ===== SUMMARY COMMENT FROM THE CEO FINANCIAL OVERVIEW SUSTAINABILITY OTHER INFORMATION FINANCIAL REPORTING NOTES DEFINITIONS SKISTAR IN BRIEF The Group’s operating segments, continued SKISTAR INTERIM REPORT SEPTEMBER 2025-MAY 2026 FULL YEAR 1 Sep 2024 – 31 Aug 2025 Operation of mountain resorts Property development and exploitation Operation of hotels Group eliminations Group total SEK MILLION Net sales 3,995 24 555 - 4,574 Other income 22 - - 22 Income from other segments 1 44 - -45 - Total operating income 4,018 69 555 -45 4,596 External operating expenses -2,836 -51 -414 - -3,301 Capital losses -1 -2 -1 - -3 Capital gains from exploitation assets - 46 - - 46 Share of profit/loss of joint ventures/associates 1 5 - - 6 Depreciation and amortisation -391 -33 -136 - -559 Costs from other segments -44 - -1 45 - Total operating costs -3,271 -34 -551 45 -3,811 Operating profit/loss 747 35 3 - 785 Intangible assets 189 - 64 - 253 Property plant and equipment 3,519 818 547 - 4,884 Right-of-use assets 683 - 1,239 - 1,922 14 ===== SIDA 15 ===== SUMMARY COMMENT FROM THE CEO FINANCIAL OVERVIEW SUSTAINABILITY OTHER INFORMATION FINANCIAL REPORTING NOTES DEFINITIONS SKISTAR IN BRIEF Condensed income statement - parent company SKISTAR INTERIM REPORT SEPTEMBER 2025-MAY 2026 3 MONTHS 9 MONTHS FULL YEAR 1 Mar – 31 May 1 Sep – 31 May 1 Sep - 31 Aug SEK MILLION 2025/26 2024/25 2025/26 2024/25 2024/25 Operating income Net sales 892 911 3,025 2,980 3,188 Other income 15 1 20 10 13 Total operating income 907 912 3,045 2,990 3,201 Operating expenses Merchandise -206 -221 -743 -713 -773 Other external expenses -256 -246 -867 -910 -1,089 Personnel costs -204 -200 -636 -594 -694 Capital gains from exploitation assets 1 - 1 16 17 Depreciation and amortisation of assets -61 -58 -179 -171 -230 Operating profit/loss 180 188 621 619 433 Net financial items 4 -8 -24 -22 -33 Profit/loss after financial items 184 179 597 597 400 Appropriations - - - - -11 Profit/loss before tax 184 179 597 597 388 Tax -38 -33 -123 -123 -77 Profit/loss for the period 146 146 474 474 311 15 ===== SIDA 16 ===== SUMMARY COMMENT FROM THE CEO FINANCIAL OVERVIEW SUSTAINABILITY OTHER INFORMATION FINANCIAL REPORTING NOTES DEFINITIONS SKISTAR IN BRIEF Condensed balance sheet – parent company SKISTAR INTERIM REPORT SEPTEMBER 2025-MAY 2026 ASSETS, SEK MILLION 31 May 2026 31 May 2025 31 Aug 2025 Non-current assets Intangible assets 112 113 107 Property, plant and equipment 2,572 2,465 2,523 Investments in Group companies 334 328 328 Investments in associates and joint ventures 2 3 3 Other investments and securities held as non-current assets 14 23 23 Derivatives 14 11 10 Other non-current receivables 18 24 25 Receivables from Group companies 663 - 663 Total non -current assets 3,729 2,968 3,681 Current assets -Inventories Inventories 276 259 329 276 259 329 Current receivables Trade receivables 30 26 19 Receivables from Group companies 439 547 395 Tax receivable - - 19 Other current receivables 64 61 47 Prepaid expenses and accrued income 134 112 122 666 746 603 Cash & cash equivalents Cash and cash equivalents 5 1 1 Total current assets 947 1,006 933 TOTAL ASSETS 4,676 3,973 4,613 EQUITY AND LIABILITIES, SEK MILLION 31 May 2026 31 May 2025 31 Aug 2025 Equity Restricted equity Share capital 20 20 20 Statutory reserve 26 26 26 46 46 45 Non-restricted equity Share premium reserve 4 4 4 Retained earnings 1,156 1,080 1,080 Profit/loss for the year 474 474 311 1,634 1,558 1,396 Total equity 1,680 1,604 1,441 Non-current liabilities Liabilities to credit institutions 985 - 1,387 Provisions for pensions 23 20 20 Long-term derivatives 3 2 3 Deferred tax liabilities 181 179 178 Total non -current liabilities 1,191 201 1,588 Current liabilities Liabilities to credit institutions 157 811 324 Liabilities to Group companies 1,071 880 747 Trade payables 143 113 192 Other current liabilities 184 173 184 Accrued expenses and deferred income 250 191 137 Total current liabilities 1,805 2,169 1,584 Total liabilities 2,996 2,370 3,172 TOTAL EQUITY AND LIABILITIES 4,676 3,973 4,613 16 ===== SIDA 17 ===== SUMMARY COMMENT FROM THE CEO FINANCIAL OVERVIEW SUSTAINABILITY OTHER INFORMATION FINANCIAL REPORTING NOTES DEFINITIONS SKISTAR IN BRIEF GROUP KEY PERFORMANCE INDICATORS AND DATA PER SHARE SKISTAR INTERIM REPORT SEPTEMBER 2025-MAY 2026 Definitions and explanations of Alternative Performance Measures (APM) see page 23. 3 MONTHS 9 MONTHS FULL YEAR 1 Mar – 31 May 1 Sep – 31 May 1 Sep-31 Aug KEY PERFORMANCE INDICATORS 2025/26 2024/25 2025/26 2024/25 2024/25 Revenue and profit Net sales, MSEK 1,441 1,375 4,663 4,348 4,574 Operating income, MSEK 1,456 1,378 4,683 4,366 4,596 Operating profit, MSEK 347 377 1,146 1,095 785 Operating profit, adjusted for capital gain from exploitation assets (MSEK) 346 347 1,145 1,049 739 EBITDA excluding IFRS16, MSEK 435 462 1,412 1,355 1,135 Organic growth, % -1 -5 5 4 4 Cash flow Cash flow from operating activities, MSEK -368 -460 1,399 1,224 1,063 Profitability Operating margin, % 24 27 24 25 17 Return on capital employed, 12M % 11 11 11 11 11 Financial position Net interest-bearing debt, MSEK 3,056 3,370 3,056 3,370 3,734 Net interest-bearing debt excluding IFRS 16, MSEK 1 112 1,328 1,112 1,328 1,711 Net interest-bearing debt/EBITDA excluding IFRS16, 12M, times 0.93 1.15 0.93 1.15 1.51 Equity/assets ratio, % 52 49 52 49 45 Equity/assets ratio, excluding IFRS16, % 67 64 67 64 59 3 MONTHS 9 MONTHS FULL YEAR 1 Mar – 31 May 1 Sep – 31 May 1 Sep-31 Aug DATA PER SHARE 2025/26 2024/25 2025/26 2024/25 2024/2025 Share price, SEK 150.30 170.10 15.,30 170.10 157.00 Average number of shares 78,376,056 78,376,056 78,376,056 78,376,056 78,376,056 Basic and diluted earnings per share, SEK 3.43 3,.82 10.88 10.40 7.05 Cash flow from operating activities, 12 M, SEK -4.70 -5.87 17.85 15.61 13.56 Share price/cash flow, 12 M, times -32 -29 8 11 12 Equity, SEK 60 54 60 54 51 Share price/equity, % 251 316 251 316 310 17 ===== SIDA 18 ===== SUMMARY COMMENT FROM THE CEO FINANCIAL OVERVIEW SUSTAINABILITY OTHER INFORMATION FINANCIAL REPORTING NOTES DEFINITIONS SKISTAR IN BRIEF NOTES SKISTAR INTERIM REPORT SEPTEMBER 2025-MAY 2026 Note 1 Accounting principles This Year-End Report has been prepared in accordance with IAS 34 Interim Financial Reporting. The consolidated financial statements were prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the EU and the Swedish Annual Accounts Act. The Parent Company’s accounts were prepared in accordance with the Annual Accounts Act and the Swedish Financial Reporting Board’s RFR 2 Accounting for Legal Entities. The accounting policies and methods of calculation applied for the Group and Parent Company are the same as those applied in preparing the most recent annual accounts and consolidated financial statements, except for the following two changes. Reclassification in the income statement of capital gains from exploitation assets, costs for re-invoicing and costs of sold interests in accommodation/SkiStar Vacation Club. In the Condensed consolidated cashflow statement the interest paid on leasing liability is reclassified to cash flow from operating activities. The comparative figures have been restated in accordance with the new classifications and the effects of these are reported in note 6 and respective footnote on page 11. Preparation of financial statements in compliance with IFRS requires Company management to make accounting estimates and judgements, as well as to make assumptions that affect the application of the accounting policies and the carrying amounts of assets, liabilities, income and expense. The actual outcome may differ from these estimates and assumptions. Certain statements contained in this report are forward - looking and reflect the current assessments of the Company and Board of Directors as regards future circumstances. None of the new IFRS standards, amended standards and interpretations applicable from first of September 2025 have had a material impact on the financial reporting of the Group or the Parent Company. No new or changed standards have been applied prematurely. PLEDGED ASSETS, SEK MILLION 2026-05-31 2025-05-31 2025-08-31 Group 3,478 2,931 3,291 Parent Company 680 567 673 CONTINGENT LIABILITIES, SEK MILLION Group 525 527 514 Parent Company 456 906 443 Note 2 Pledged assets and contingent liabilities 18 ===== SIDA 19 ===== SUMMARY COMMENT FROM THE CEO FINANCIAL OVERVIEW SUSTAINABILITY OTHER INFORMATION FINANCIAL REPORTING NOTES DEFINITIONS SKISTAR IN BRIEF NOTES, CONTINUED SKISTAR INTERIM REPORT SEPTEMBER 2025-MAY 2026 Not 3 Segment reporting Operations are monitored and presented by SkiStar in the segments Operation of Mountain Resorts, Property Development and Exploitation and Operation of Hotels. Operation of Mountain Resorts comprises the operation of mountain resorts and the sale of all products and services in this area, such as SkiPass, accommodation, activities, articles in sporting goods stores etc. The focus is on sales and efficient operation. Earnings are charged with the segment’s own costs as well as internal rents, mainly for guest accommodation rented from Property Development and Exploitation. The segment’s non-current assets are mainly property, plant and equipment used directly in the operations, such as pistes and lifts, or used or rented out for activities that complement the segment, such as sporting goods stores, equipment hire and restaurants. Property Development and Exploitation comprises the management of assets that can be exploited or used in the segment or leased to the Operation of Mountain Resorts segment. Segment revenue consists of the sale of land and other properties, the sale of weekly shares in Vacation Club, and the renting of accommodation, both through the segment and associated companies, to guests in the Operation of Mountain Resorts segment. The segment’s assets consist of land and other properties, as well as shares in tenant-owner associations and associated companies focusing on hotels and the renting of cabins and apartments close to the Group’s skiing areas. Operation of Hotels includes activities related to hotels conducted under the SkiStar brand and under SkiStar’s management. SkiStar’s operation of hotels is conducted as a tenant of the hotel properties in question. Operation of Hotels includes revenue from accommodation, restaurants and other goods and services provided in connection with the hotels. The hotels included in the segment are SkiStarLodge Experium Lindvallen, Sälen, SkiStar Lodge Hundfjället, Sälen, Sälens Högfjällshotell, Sälen, (since 1 May 2025) Ski Lodge Skalspasset, Vemdalen, Hovde Hotell, Vemdalen, SkiStar Lodge Suites, Hemsedal, SkiStar Lodge Alpin, Hemsedal, Radisson Blu Resort, Trysil and SkiStar Lodge Trysil, Trysil. The revenues and costs shared within the Group are distributed between the segments based on the total revenue in respective segment. Assets shared within the Group are distributed based on the corresponding asset in the respective segment. The revenues are attributed to the seperate countries based on which country the Group Companies are based. NET SALES PER SEGMENT 3 MONTHS 9 MONTHS FULL YEAR 1 Mar– 31 May 1 Sep – 31 May 1 Sep-31 Aug SEK MILLION 2025/26 2024/25 2025/26 2024/25 2024/25 OPERATION OF MOUNTAIN RESORTS SkiPass 648 634 2,029 1,928 1,963 Accomodation 267 271 899 867 900 Ski school /Activities 30 28 101 95 95 Ski rental 69 70 251 239 251 Sporting goods stores 95 89 459 405 455 Property services 38 42 109 119 132 Restaurants 10 10 21 22 23 Other 64 54 141 138 174 Total Operation of Mountain Resorts 1,221 1,200 4,010 3,812 3,995 PROPERTY DEVELOPMENT AND EXPLOITATION Total Property Development and Exploitation 5 9 14 23 24 OPERATION OF HOTELS Accomodation 105 98 328 295 312 Property 5 4 14 12 11 Restaurants 72 50 214 151 167 Other 34 14 83 54 64 Total Operation of Hotels 215 166 639 512 555 Total Group 1,441 1,375 4,663 4,348 4,574 NET SALES PER SEGMENT AND COUNTRY 3 MONTHS 9 MONTHS FULL YEAR 1 Mar – 31 May 1 Sep – 31 May 1 Sep-31 Aug SEK MILLION 2025/26 2024/25 2025/26 2024/25 2024/25 Sweden Operation of Mountain Resorts 806 840 2,746 2,667 2,803 Property Development and Exploitation 5 7 12 16 18 Operation of Hotels 104 63 305 192 215 Norway Operation of Mountain Resorts 415 360 1,265 1,146 1,192 Property Development and Exploitation - 1 1 6 6 Operation of Hotels 111 104 334 320 339 Total Group 1,441 1,375 4,663 4,348 4,574 19 ===== SIDA 20 ===== SUMMARY COMMENT FROM THE CEO FINANCIAL OVERVIEW SUSTAINABILITY OTHER INFORMATION FINANCIAL REPORTING NOTES DEFINITIONS SKISTAR IN BRIEF NOTES, CONTINUED SKISTAR INTERIM REPORT SEPTEMBER 2025-MAY 2026 Not 4 Financial instruments at fair value Derivatives measured at fair value refer to electricity futures and interest rate swaps. The fair value of electricity futures is based on current futures prices on the electricity market for the corresponding maturities. The fair value of interest rate swaps is calculated as the value of future cash flows discounted at current market rates. The Company’s existing derivative assets and liabilities are all within Level 2 of the fair value hierarchy. For other financial assets and liabilities, the carrying amount is considered a reasonable approximation of fair value. Disclosure of fair value per class, SEK million 2026-05-31 2025-05-31 2025-08-31 Financial assets (short - and long term) Interest rate swaps 14 18 15 Electricity futures 12 2 3 Financial liabilities (short - and long term) Interest rate swaps 3 2 3 Electricity futures 1 8 3 Not 5 Acquisition of businesses 1 September 2025 SkiStar Norge AS acquired 100 percent of the shares in Juls Sportshop AS for SEK 2.7 million, paid in cash. The ownership in shares is equal to the voting rights. Directly after the aquisition Juls Sportshop AS was merged into the parent company SkiStar Norge AS. At the time of acquisition, Juls Sportshop AS was operating the sportshop Juls Sportshop in an attractive location close by the Trysil tourist center. No further information is provided as the amounts linked to the acquisition have not had any major impact on the Group's results and financial position. No changes has been made since the last quarter. 20 ===== SIDA 21 ===== SUMMARY COMMENT FROM THE CEO FINANCIAL OVERVIEW SUSTAINABILITY OTHER INFORMATION FINANCIAL REPORTING NOTES DEFINITIONS SKISTAR IN BRIEF NOTES, CONTINUED SKISTAR INTERIM REPORT SEPTEMBER 2025-MAY 2026 Not 6 Effects of reclassification in the income statement As a result of a reclassification in the income statement, the following items specified below have changed with effect from 1 September 2025 and the comparative figures for 2024/25 have been adjusted accordingly. The table below shows the effects of the reclassifications, stating amounts and a reference to the relevant Profit and Loss line item i n the Group’s income statement. GROUP 3 Months 1 March 2025-31 May 2025, SEK MILLION Current Adjustments Previous Net Sales 1 ,375 -30 1,405 Income from sold interests in accomodation/Vacation Club 3 - 3 Income from sold exploitation assets - -30 30 Merchandise -334 -8 -326 Costs of sold interests in accomodation/Vacation Club -2 -2 - Costs of re-invoicing -7 -7 - Other external expenses -240 7 -247 Costs of re-invoicing - 7 -7 Costs of sold interests in accomodation/ exploitation assets - 2 -2 Costs of sold interests in accomodation/Vacation Club - 2 -2 Costs of sold interests in exploitation assets - 1 -1 Capital gains from exploitation assets 30 30 - Operating profit/loss 377 - 377 GROUP 9 Months 1 Sep 2024 – 31 May 2025, SEK MILLION Current Adjustments Previous Net Sales 4,348 -58 4,405 Income from sold interests in accomodation/Vacation Club 8 - 8 Income from sold exploitation assets - -58 58 Merchandise -1,058 -21 -1,036 Costs of sold interests in accomodation/Vacation Club -4 -4 - Costs of re-invoicing -17 -17 - Other external expenses -941 17 -958 Costs of re-invoicing - 17 -17 Costs of sold interests in accomodation/ exploitation assets - 16 -16 Costs of sold interests in accomodation/Vacation Club - 4 -4 Costs of sold interests in exploitation assets - 11 -11 Capital gains from exploitation assets 46 46 - Operating profit/loss 1,095 - 1,095 21 ===== SIDA 22 ===== SUMMARY COMMENT FROM THE CEO FINANCIAL OVERVIEW SUSTAINABILITY OTHER INFORMATION FINANCIAL REPORTING NOTES DEFINITIONS SKISTAR IN BRIEF NOTES, CONTINUED SKISTAR INTERIM REPORT SEPTEMBER 2025-MAY 2026 Not 6 Effects of reclassification in the income statement, continued As a result of a reclassification in the income statement, the following items specified below have changed with effect from 1 September 2025 and the comparative figures for 2024/25 have been adjusted accordingly. The table below shows the effects of the reclassifications, stating amounts and a reference to the relevant Profit and Loss line item in the Group’s income statement. GROUP Full Year 1 Sep 2024 - 31 Aug 2025, SEK MILLION Current Adjustments Previous Net Sales 4,574 -58 4,631 Income from sold interests in accomodation/Vacation Club 9 - 9 Income from sold exploitation assets - -58 58 Merchandise -1,134 -27 -1,107 Costs of sold interests in accomodation/Vacation Club -4 -4 - Costs of re-invoicing -23 -23 - Other external expenses -1,107 23 -1,130 Costs of re-invoicing - 23 -23 Costs of sold interests in accomodation/ exploitation assets - 16 -16 Costs of sold interests in accomodation/Vacation Club - 4 -4 Costs of sold interests in exploitation assets - 11 -11 Capital gains from exploitation assets 46 46 - Operating profit/loss 785 - 785 22 ===== SIDA 23 ===== SUMMARY COMMENT FROM THE CEO FINANCIAL OVERVIEW SUSTAINABILITY OTHER INFORMATION FINANCIAL REPORTING NOTES DEFINITIONS SKISTAR IN BRIEF DEFINITIONS SKISTAR INTERIM REPORT SEPTEMBER 2025-MAY 2026 FINANCIAL DEFINITIONS Financial measures defined in accordance with IFRS Basic and diluted earnings per share Profit/loss for the period attributable to Parent Company shareholders divided by the number of shares. The measure shows how much profit per share the Group generates for its shareholders. The measure is identical before and after dilution as the Company does not currently have any convertibles. Financial measures not defined in accordance with IFRS The Company presents certain financial measures in this interim report that are not defined in accordance with IFRS. The company considers these measures to be valuable complementary information for investors and the Company’s management. Since not all companies calculate financial measures in the same way, they are not always comparable with measures used by other companies. Consequently, these financial measures should not be seen as a substitute for measures defined in accordance with IFRS. For comparison and reconciliation of the measurements: https://investor.skistar.com/eng/finansiellt/ Average interest rate Interest expenses, including interest rate swaps and excluding IFRS 16-related interest expenses, divided by average interest-bearing liabilities. The measure is used to show the interest rate paid by the Group on its interest-bearing liabilities. Capital employed Total assets less non-interest-bearing liabilities. The measure shows how much of the Company’s assets have been lent by its owners or by lenders. Cash flow per share, 12 M Cash flow from operating activities, last twelve months, divided by the average number of shares. The measure is used to make it easy for investors to analyse the amount of surplus from operating activities generated per share that can be used to finance new investments, repayments and dividends, and to assess the need for new external financing. Earnings per share Profit/loss after tax for the period attributable to Parent Company shareholders divided by the average number of shares. The measure shows how much profit per share the Group generates for its shareholders. EBITDA excluding IFRS16 Operating profit plus depreciation/amotisation and adjusted for the effect of IFRS16 Leasing. Equity/assets ratio Equity as a percentage of total assets. This measure is used to analyse financial risk and shows the proportion of assets financed with equity. Equity/assets ratio excluding IFRS16 Equity as a percentage of total assets, adjusted for the effect of IFRS16 Leasing. This measure is used to analyse financial risk and shows the proportion of assets financed with equity less the effect of IFRS16. Equity per share Equity divided by the average number of shares for the reporting period. The measure shows how much equity is attributable to each share and is presented to facilitate investors’ analyses and decisions. Gross investments New investments and replacement investments in non-current assets. The measure is relevant in showing the overall size of the investments made to maintain existing capacity and create growth. Interest-bearing liabilities Current and non-current liabilities to credit institutions, provisions for pensions, lease liabilities and items in other current liabilities that are interest-bearing. Net interest-bearing debt Interest-bearing liabilities less cash and cash equivalents. Net interest-bearing debt excluding IFRS16 Interest-bearing liabilities less cash and cash equivalents adjusted for IFRS16 leasing debt. Net interest-bearing debt/EBITDA, excluding IFRS16, 12 M Net interest-bearing debt in relation to EBITDA, last twelve months, exclusive the effect of IFRS16 leasing debt. The measure gives an estimation of the Companys’ ability to reduce its debt. It represents the number of years it would take to repay the debt if the net debt and EBITDA remain constant, without regard to cashflow in respect of interest rates, tax and invetments. This measure is one of the Companys’ financial goals and should over a period not exceed 2.5 times. Net investments New investments and replacement investments in non-current assets less sales of these investments. The measure is relevant in showing the total amount from the Group’s investing activities. Operating margin Operating profit/loss after depreciation/ amortisation as a percentage of revenue. The measure is used to show the profitability of operating activities by indicating the percentage of revenue that remains to cover interest and tax and to provide profit, after the Company's ongoing costs have been paid. Operating profit/loss (EBIT) Revenue less merchandise costs, personnel costs, other operating expenses, depreciation and amortisation, plus profit/loss from joint ventures/associates. The measure is used to analyse the profitability generated by operating activities. Operating profit, adjusted for capital gain from exploitation assets Operating profit less capital gain from exploitation asset. The measure is used to show a comparable operating profit between periods, without the capital gain that occurs irregularly. Organic growth Revenue adjusted for acquisitions and currency effects compared with the same period in the previous year. An acquired company is classified as an acquisition in the twelve months from the date of acquisition. Only after this period is the company included in the measurement of organic growth. The measure is used to show underlying revenue growth. Return on capital employed, 12 M Profit before tax plus net financial costs, last twelve months, as a percentage of average capital employed in comparable period (sum of capital employed at the opening and the closing of the period, divided by two). The measure shows the Group’s profitability in relation to externally financed capital and equity. Share price/cash flow Share price at the reporting date divided by cash flow from operating activities. The measure shows the value of the share compared with the value the Group has generated in cash flow from operating activities. Share price/equity ratio Share price at the reporting date divided by equity per share. The measure shows the value of the share compared with the value recognised by the Group in its statement of financial position. OTHER DEFINITIONS Activity day One day of activities with an Activity pass. Activity pass Card providing access to summer activities. ALF Norwegian Ski Lift Association. Booking volume The number of overnight stays booked through SkiStar’s mediated accommodation CO2e Carbon dioxide equivalents is a metric that converts different greenhouse gases into a single unit based on their climate impact relative to carbon dioxide. Global Reporting Initiative (GRI) Standards GRI Sustainability Reporting Standards are the first and most widely used global standards for sustainability reporting. GRI is an independent international organisation that has been developing methods for sustainability reporting since 1997. Overnight stay One booked night in a cabin, apartment or hotel room. Skier day One day’s skiing with a SkiPass. SkiPass Card providing access to ski lifts. SLAO Svenska Skidanläggningars Organisation FINANCIAL YEAR SkiStar’s financial year covers the period 1 September – 31 August. First quarter (Q1) September–November Second quarter (Q2) December–February Third quarter (Q3) March–May Fourth quarter (Q4) June–August 23 ===== SIDA 24 ===== SUMMARY COMMENT FROM THE CEO FINANCIAL OVERVIEW SUSTAINABILITY OTHER INFORMATION FINANCIAL REPORTING NOTES DEFINITIONS SKISTAR IN BRIEF SKISTAR INTERIM REPORT SEPTEMBER 2025-MAY 2026 Presentation of the report SkiStar will present this report via webcast on 18 June 2026, 10:00 a.m. CET. Find the dial-in information and link to the webcast on https://investor.skistar.com. Financial information Financial year 2025/26 The year-end report for the financial year and the Annual and sustainability report will be published as follows; • Year-End Report, Q4, 1 September 2025-31 August 2026, 30 September 2026, at 07.00 a.m. CET • Annual and sustainability report, 1 September 2025- 31 August 2026, week 47 Financial year 2026/27 The interim and year-end report for the financial year will be published as follows; • Interim Report, Q1, 1 September 2026- 30 November 2026, 18 December 2026, at 07.00 a.m. CET. • Half-Year Report, Q2, 1 September 2026- 28 February 2027, 17 March 2027, at 07.00 a.m. CET. • Interim Report Q3, 1 September 2026- 31 May 2027, 17 June 2027, at 07.00 a.m. CET. • Year-End Report, Q4, 1 September 2026-31 August 2027, 30 September 2027, at 07.00 a.m. CET Annual General Meeting Annual general meeting will be held on 12 December 2026, at 2.00 p.m. CET in Sälen. Nomination Committee prior to SkiStar’s AGM The Nomination Committee prior to the 2026 Annual General Meeting has the following composition: • Per Gullstrand, appointed by Ekhaga Utveckling AB. • Peder Strand, appointed by Nordic Ski & Mountains AB. • Niklas Johansson, appointed by Handelsbanken Fonder. • Sara Karlsson, appointed by the Sara Karlsson & Svante Paulsson family, including companies. The Nomination Committee has appointed Per Gullstrand chairman of the committee. Sharehoders wishing to provide the Nomination Committe with proposals can reach the Committee in writing at valberedning@skistar.com, or SkiStar AB, Att: Valberedningen, Fjällvägen 25, 780 91 Sälen. The CEO assure that this Interim Report provides a true and fair view of the parent company’s and the group’s operations, fin ancial position and performance, and describes the material risks and uncertainties faced by the parent company and the other group companies. Sälen, 18 June 2026 Stefan Sjöstrand CEO This information is information that SkiStar 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 18 June 2026, 07.00 a.m. CET AUDITORS REPORT SkiStar AB (publ), 556093-6949 Introduction We have reviewed the condensed interim financial information (interim report) of Skistar AB ( publ) as of 31 May 2026 and the nine -month period then ended. The board of directors and the CEO are responsible for the preparation and presentation of the interim financial information in accordance with IAS 34 and the Swedish Annual Accounts Act. Our responsibility is to express a conclusion on this interim rep ort based on our review. Scope of Review We conducted our review in accordance with the International Standard on Review Engagements ISRE 2410 Review of Interim Repor t, performed by the Independent Auditor of the Entity. A review consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accor dance with International Standards on Auditing, ISA, and other generally accepted auditing standards in Sweden. The procedures performed in a review do not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accord ingly, we do not express an audit opinion Conclusion Conclusion Based on our review, nothing has come to our attention that causes us to believe that the interim report is not pr epared, in all material respects, in accordance with IAS 34 and the Swedish Annual Accounts Act, regarding the Group, and with the Swedish Annual Acc ounts Act, regarding the Parent Company. Stockholm, date as of electronic signing Kent Åkerlund Authorized Public Accountant 24 ===== SIDA 25 ===== SUMMARY COMMENT FROM THE CEO FINANCIAL OVERVIEW SUSTAINABILITY OTHER INFORMATION FINANCIAL REPORTING NOTES DEFINITIONS SKISTAR IN BRIEF SKISTAR IN BRIEF SKISTAR INTERIM REPORT SEPTEMBER 2025-MAY 2026 The mountain tourism company SkiStar AB (publ) is listed on the Large Cap list of the Nasdaq Stockholm exchange. The Group owns and operates alpine ski resorts in Sälen, Vemdalen, Åre and Stockholm (Hammarbybacken) in Sweden and in Hemsedal and Trysil in Norway. SkiStar’s vision is to create memorable mountain experiences with a focus on alpine skiing in the winter and active holidays in the summer. Sustainability and responsible entrepreneurship are an integral part of SkiStar’s strategy, business model, governance and culture. For more information, see https://investor.skistar.com/en. Business concept As the leading tour operator for Scandinavia, SkiStar’s business concept is to create memorable mountain experiences, develop sustainable destinations and offer accommodation, activities, Products and services of the highest quality with our guests in focus. Business model Our operations are divided into three segments: Operation of Mountain Resorts, Property Development & Exploitation and Operation of Hotels, as well as a number of central functions. Shareholder benefits Shareholders owning at least 200 shares in SkiStar receive a 15-percent discount on SkiStar’s offering at all destinations and on their online purchases at skistar.com and skistarshop.com. Read more about booking with a shareholder discount and the full terms and conditions at https://investor.skistar.com/en/dokument/aktiag arrabatt 25 ===== SIDA 26 ===== SKISTAR AB (PUBL) SE-780 91SÄLEN Org.nr:556093-6949 Tel: +46 280 880 50 E-post:info@skistar.com www.skistar.com