Trelleborg

Quarterly Report • Oct 24, 2024

INTERIM REPORT JULY-SEPTEMBER 2024

Mixed performance

Third quarter 2024 - continuing operations

• Net sales for the quarter were on par with the preceding year at SEK 8,442 M (8,458). Organic sales increased 1 percent compared with the preceding year, structural changes increased sales by 2 percent, while currency reduced sales by 3 percent compared with the preceding year.
• · EBITA, excluding items affecting comparability, decreased 2 percent to SEK 1,464 M (1,487). The EBITA margin was 17.3 percent (17.6).
• · EBITA, including items affecting comparability, amounted to SEK 1,391 M (1,376) for the quarter.
• · Items affecting comparability for the quarter totaled SEK -73 M (-111) and pertained to restructuring costs.
• · Earnings per share for continuing operations, excluding items affecting comparability, amounted to SEK 3.78 (4.19), down 10 percent. The decrease is mainly due to the fact that the comparison figure was positively impacted by interest income attributable to the Group's net cash position at that time.
• · For the Group as a whole, earnings per share were SEK 3.54 (3.84).
• · Operating cash flow amounted to SEK 1,422 M (1,608), down 12 percent. This is due primarily to a higher rate of investment in new production facilities and changes in working capital.
• The cash conversion ratio for the most recent 12-month period was 85 percent (99).
• · The key figures in this report relate to continuing operations, unless otherwise stated.

Mixed performance

"Trelleborg's third quarter was marked by a trend in which some market segments and geographies, respectively, moved in different directions. Organic sales increased 1 percent and acquisitions contributed 2 percent while exchange rate effects impacted sales negatively by 3 percent. EBITA, excluding items affecting comparability, declined 2 percent, corresponding to a margin of 17.3 percent (17.6).

The quarter generally developed in line with our expectations. However, during the latter part of the period, the macroeconomic environment weakened, particularly affecting some industrial segments. This mainly impacted our deliveries to construction and agricultural machinery. In the aerospace industry, underlying demand remained at a good level.

Overall, net sales were on par with the preceding year. We benefited greatly from our flexible structure, which allowed the Group to quickly adjust and offset a somewhat weaker economic climate. Additional measures are planned for the fourth quarter. Despite the macroeconomic developments, all three business areas showed slight organic growth, which is a sign of strength in this context.

Organic sales in Trelleborg Industrial Solutions were somewhat higher despite a strong year-earlier period. Demand among the industrial market segments was varied, with primarily sales to LNG and larger infrastructure projects distinguishing themselves positively. By contrast, sales to the construction industry remained sluggish in both Europe and North America. The operating margin declined, due primarily to a favorable impact in the comparative period from extraordinary business related to the Panama Canal.

Performance in Trelleborg Medical Solutions was stable, with organic sales of polymer solutions largely unchanged in both Europe and North America. The previously announced acquisition of Baron Group was finalized a few weeks into the quarter, which resulted in a onethird increase in the business area's sales while the operating profit increased by as much as two thirds. Integration of the acquisition has proceeded

successfully and supported the improved margin. New capacity in several different geographic regions is being built up in the business area in order to meet an expected increase in demand in coming years.

Organic sales for Trelleborg Sealing Solutions increased marginally compared with the preceding year. Profitability was also reassuringly stable. Sales to the aerospace industry remained favorable, impacted only marginally by an ongoing strike in the industry. Deliveries to the automotive industry increased in Europe and Asia but declined in North America. In the general industry market segment, the weaker performers were primarily deliveries to construction vehicles and agricultural machinery in North America.

Substantial investments in the organization continues within a number of rapidly expanding market segments and are expected to have a positive effect in several dimensions in the long term. We can see favorable prospects for further growth through a stronger local presence. Our build-out of new production units continues in several geographic regions with good growth and cost structure. Examples are Costa Rica, Morocco, Vietnam and India. Additionally, we are expanding and upgrading several existing production units in, for example, in the US, Bulgaria and Malta.

External factors are continuing to create significant uncertainty regarding market developments moving forward. Meanwhile, we are highly confident in our ability to address the fluctuations in the market. Due to our leading market positions and our financial status, Trelleborg stands very strong. For the fourth quarter, our overall assessment is that demand will be slightly lower than in the third quarter of the year."

Peter Nilsson, President and CEO

Market outlook for the fourth quarter of 2024

Demand is expected to be slightly lower compared to the third quarter of 2024, adjusted for seasonal variations. The geopolitical situation entails a heightened degree of uncertainty.

Market outlook from the interim report published on July 18, 2024, relating to the third quarter of 2024 Demand is expected to be somewhat higher compared to the second quarter of 2024, adjusted for seasonal variations. The geopolitical situation entails a heightened degree of uncertainty.

Net sales and result

Net sales during the third quarter of 2024 amounted to SEK 8,442 M (8,458), on a par with the preceding year. Organic sales increased 1 percent compared with the preceding year, structural changes increased sales by 2 percent while currency reduced sales by 3 percent compared with the preceding year.

Sales per market. Organic sales in Europe decreased 1 percent year-on-year. Organic sales in North and South America declined by 5 percent compared with the year-earlier period. Organic sales in Asia and Other markets increased by 14 percent compared with the preceding year.

EBITA, excluding items affecting comparability, decreased 2 percent to SEK 1,464 M (1,487). The EBITA margin was 17.3 percent (17.6).

The exchange rate effect from translation of foreign subsidiaries on EBITA, excluding items affecting comparability, had a negative effect of SEK 47 M on earnings compared with the year-earlier period.

Items affecting comparability for the quarter totaled SEK -73 M (-111) and pertained to restructuring costs.

EBITA, including items affecting comparability, amounted to SEK 1,391 M (1,376) for the quarter.

Financial income and expenses for continuing operations amounted to SEK -128 M (-44). Net financial items were impacted during the quarter by interest expenses of SEK 23 M attributable to recognized additional purchase payments (recognized as a liability under IFRS 9, non-cash impact) related to acquisitions completed during the year. The comparison figure for the preceding year included interest income of SEK 73 M relating to the Group's net cash position at that time.

Net profit was SEK 836 M (905). The tax rate for the quarter was 25 percent (25). The underlying tax rate for continuing operations is expected to remain at 25 percent.

Earnings per share, excluding items affecting comparability, amounted to SEK 3.78 (4.19), a decrease of 10 percent mainly due to higher financial expenses.

For the Group as a whole, earnings per share were SEK 3.54 (3.84).

Net sales for the first nine months of the year amounted to SEK 25,387 M (25,865), a decrease of 2 percent year-onyear. Organic sales were unchanged.

EBITA, excluding items affecting comparability, totaled SEK 4,553 M (4,578), corresponding to an EBITA margin of 17.9 percent (17.7). Items affecting comparability amounted to SEK -239 M (-354) and pertained to restructuring costs. EBITA, including items affecting comparability, totaled SEK 4.314 M (4.224).

Financial income and expenses amounted to a net of SEK -211 M (-69). The comparison figure from the preceding year included non-recurring financial income of SEK 218 M (SEK 173 M after tax) attributable to the interest-rate hedges ended in conjunction with the repayment of loans when the Group's tire operation was divested.

Profit before tax totaled SEK 3,732 M (3,791). The tax rate was 25 percent (29), and the comparison figures from the preceding year included a non-recurring tax expense of SEK 150 M. This expense is related to a change in the Group's legal structure following the divestment of the Group's tire operation.

Net profit for the Group was SEK 2,804 M (9,294), and the comparison figure from the preceding year included the capital gains from divestment of the Group's tire and printing blanket operations.

Earnings per share, excluding items affecting comparability, totaled SEK 12.50 (12.56). For the Group as a whole, earnings per share were SEK 11.74 (36.84), and the comparison figure from the preceding year included the capital gains from divestment of the Group's tire and printing blanket operations.

The key figures in this report relate to continuing operations, unless otherwise stated. Continuing operations pertains to the business areas Trelleborg Industrial Solutions, Trelleborg Medical Solutions, Trelleborg Sealing Solutions and Group Activities.

Net sales and result

SEK M	Q3 2024	Q3 2023	Change, %	9M 2024	9M 2023	Change, %
Continuing operations
Net sales	8,442	8,458	O	25,387	25,865	-2
Change total, %	O	12		-2	ਹ 8
Organic sales, %	ਜ	-J		0	3
Structural change, %	2	9		O	ರಿ
Currency effects, %	-3	4		-2	ട
EBITA, excluding items affecting comparability	1,464	1,487	-2	4,553	4,578	-J
EBITA-margin, %	17.3	17.6		17.9	17.7
Items affecting comparability	-73	-111		-239	-354
EBITA	1,391	1,376	ਹ	4,314	4,224	2
Amortization of surplus values related to acquisitions	-144	-126	-14	-371	-364	-2
EBIT	1,247	1,250	0	3,943	3,860	2
Financial income and expenses	-128	-44	-191	-211	-69	-206
Profit before tax	1,119	1,206	-7	3,732	3,791	-2
Taxes	-283	-301	රි	-928	-1,090	ਹ ਦ
Net profit, continuing operations	836	905	-8	2,804	2,701	ব
Net profit, discontinuing operations					6,593	-100
Net profit, Group	836	905	-8	2,804	9,294	-70
Earnings per share, SEK
Continuing operations	3.54	3.84	-8	11.74	10.91	8
Discontinuing operations					25.93	-100
Group	3.54	3.84	-8	11.74	36.84	-68
Continuing operations, excluding items affecting comparability	3.78	4.19	-10	12.50	12.56	O

Key figures and trends

The key figures in this report relate to continuing operations, unless otherwise stated. Continuing pertains to the business areas Trelleborg Industrial Solutions, Trelleborg Medical Solutions, Trelleborg Sealing Solutions and Group Activities.

Return on capital employed and return on equity

%	R12 2024	R12 2023
Return on capital employed, continuing operations
Excluding items affecting comparability	12.3	13.0
Including items affecting comparability	11.2	12.0
Return on equity, Group
Excluding items affecting comparability	9.3	27.4
Including items affecting comparability	8.5	26.0

Capital employed for continuing operations increased year-on-year and amounted to SEK 46,874 M (42,622) at the end of the quarter, mainly due to completed acquisitions.

Return on capital employed for the most recent 12-month period, excluding items affecting comparability, was 12.3 percent (13.0). Return on capital employed, including items affecting comparability, for the corresponding period was 11.2 percent (12.0).

Shareholders' equity at the close of the period amounted to SEK 40,440 M (43,843), impacted positively by net profit for the year and translation differences, and reduced by dividends to the shareholders of the Parent Company and the repurchase of own shares.

During the first nine months of the year, 7,319,770 Series B shares in Trelleborg were repurchased (of which 1,901,526 in the third quarter), corresponding to SEK 2,778 M. This corresponds to 3.0 percent of the shares outstanding, which amounted to 241,547,186 on the balance sheet date. In accordance with the resolution at the Annual General Meeting on April 24, 2024, Trelleborg has canceled 13,578,733 own shares of Series B, where 11,696,591 were repurchased during 2023 and 1,882,142 during 2024. The number of treasury shares amounted to 5,437,628 (8,108,836) on the balance sheet date.

Equity per share amounted to SEK 171 (177), based on the number of outstanding shares less treasury shares on the balance sheet date (236,109,558 shares). The equity/assets ratio was 69 percent (69). The return on shareholders' equity for the Group for the most recent 12-month period, excluding items affecting comparability, totaled 9.3 percent (27.4). The return on shareholders' equity for the Group, including items affecting comparability, amounted to 8.5 percent (26.0) for the corresponding period. Both return on investment measures were affected in the preceding year by the capital gain attributable to the divestment of the Group's tire and printing blanket operations, which were finalized in the second quarter of 2023.

Cash flow and net debt

Operating cash flow for the quarter amounted to SEK 1,422 M (1,608), down 12 percent. This is due primarily to a higher rate of investment in new production facilities and changes in working capital. The Group continued its efforts during the quarter to ensure effective management of working capital. The cash conversion ratio for the most recent 12month period was 85 percent (99).

Free cash flow for the first nine months of the year amounted to SEK 1,834 M (1,629). Net cash flow amounted to SEK -7,666 M (23,215). Net cash flow for the period was impacted by the effects from acquisitions of SEK -5,105 M (-416) and dividends to the shareholders of the Parent Company of SEK -1,617 M (-1,524) as well as the repurchase of own shares of SEK -2,778 M (-2,802). The comparison figures from the preceding year included effects from the divestment of the Group's tire and printing blanket operations, with an aggregate impact of SEK 26,328 M.

Net debt at the end of the quarter amounted to SEK -5,381 M (1,871) and was impacted by net cash flow for the period of SEK -7,666 M, negative exchange rate differences on loans in local currencies of SEK -292 M (-431) and non-cash adjustments of lease and pension liabilities totaling SEK -105 M (-16).

The debt/equity ratio was 13 percent (-4). Net debt in relation to EBITDA was 0.8 (-0.1).

Cash flow and net debt

SEK M	Q3 2024	Q3 2023	Change, %	9M 2024	9M 2023	Change, %
EBIT, excluding items affecting comparability	1,320	1,361	-3	4,182	4,214	-J
Depreciation/write-down, property, plant and equipment	332	328	1	081	960	2
Amortization/write-down, intangible assets	169	142	ਹਰ	442	404	ത
EBITDA	1,821	1,831	-J	5,605	5,578	O
Capital expenditure	-426	-397	-7	-1,283	-1,168	-10
Sold non-current assets	20	4	400	29	17	71
Amortization of lease liabilities	-83	-153	46	-254	-326	22
Change in working capital	88	320		-765	-350
Dividend from associated companies	ਜ	O		1	8
Non cash-flow affecting items	1	3		-3	-17
Operating cash flow, continuing operations	1,422	1,608	-12	3,330	3,742	-11
Cash conversion ratio R12, %	85	ටිම		85	පිරි
Operating cash flow, discontinuing operations					-326	100
Operating cash flow, Group	1,422	1,608	-12	3,330	3,416	-3

SEK M	9M 2024	9M 2023	12M 2023
Net debt Group, opening balance	2,682	-20,897	-20,897
Operating cash flow	3,330	3,416	4,737
Cash impact from items affecting comparability	-192	-336	-479
Financial items	-317	-343	-325
Paid tax	-987	-1,108	-1,407
Free cash flow	1,834	1,629	2,526
Acquisitions	-5,105	-416	-447
Disposed operations		26,328	26,462
Dividend - equity holders of the parent company	-1,617	-1,524	-1,524
Repurchase own shares	-2,778	-2,802	-3,880
Sum net cash flow	-7,666	23,215	23,137
Exchange rate differences	-292	-431	390
Lease liability1	-61	-14	62
Pension liability1	-44	-2	-10
Net debt Group, closing balance	-5,381	1,871	2,682
Of which:
Pension liability	-389	-378	-326
Lease liability	-1,767	-1,776	-1,606
Net debt, excluding effect of lease and pension liability	-3,225	3,965	4,614
Debt/equity ratio, %	ਹਤ	-4	-ଚ
Net debt/EBITDA2	0.8	-0.1	-0.2

1 Pertains to non-cash items.

2 EBITDA including items affecting comparability.

Sustainability

Lower climate impact. CO2 emissions for the quarter declined 33 percent compared with the year-earlier period and amounted to 13,962 metric tons (20,775). This positive trend was mainly driven by a higher share of renewable and fossil-free electricity. Renewable and fossil-free electricity in the quarter increased to 87 percent (64) compared with the year-earlier period.

Social engagement. Trelleborg actively participates in the local communities where the Group operates. The focus is on promoting education and physical activity among children and young people. Examples of engagement in local communities include the recurring provision of support for back-to-school educational materials in Milford, in the US, as well as lectures on sustainability conducted in schools in India by Trelleborg staff. Students have the opportunity to express their thoughts and opinions creatively on the importance of water, the use of land and plastic consumption.

BUSINESS AREA Trelleborg Industrial Solutions

Trelleborg Industrial Solutions is a leading supplier of polymer in selected industrial applications and infrastructure projects

Organic sales increased 2 percent year-onyear. Demand in the industrial market segments varied. Sales to LNG projects and sealing solutions used in major infrastructure projects and water infrastructure performed particularly well. By contrast, sales to the construction industry remained sluggish in both Europe and North America.

EBITA and the EBITA margin decreased year-on-year. This is mainly because earnings and the margin in the comparative period were impacted by extraordinary sales related to the Panama Canal. Exchange rate effects from the translation of foreign subsidiaries had a negative impact of SEK 17 M on EBITA.

Sales per geography1

Excluding items affecting comparability, SEK M	Q3 2024	Q3 2023	Change, %	9M 2024	9M 2023	Change, %
Net sales	3.661	3,663	O	11,337	11,483	- J
Change total, %	0	6		-J	11
Organic sales, %	2	-1		-1	ব
Structural change, %		2			2
Currency effects, %	-3	5		-1	5
EBITA	548	594	-8	1,804	1,789
EBITA, %	15.0	16.2		15.9	15.6
Capital employed, closing balance	13,698	13.454		13.698	13.454
Return on capital employed R12, %	16.5	16.3		16.5	16.3

Additional key ratios on pages 25-27

11Net sales per geographic market and per industry are based on full year 2023.

BUSINESS AREA Trelleborg Medical Solutions

Trelleborg Medical Solutions is a leading global supplier of polymer-based integrated solutions for medical and biopharma

Organic sales increased 1 percent year-onyear. In parallel, structural sales increased by 35 percent as a result of the acquisition of Baron Group, which was consolidated as of July 17, 2024. Sales of medical polymer solutions were largely unchanged in both Europe and North America.

EBITA and the EBITA margin increased sharply year-on-year, mainly due to the acquisition of Baron Group. Integration of the acquisition has proceeded successfully and supported the improved margin. Exchange rate effects from the translation of foreign subsidiaries had a negative impact of SEK 4 M on EBITA.

Sales per industry1

Excluding items affecting comparability, SEK M	Q3 2024	Q3 2023	Change, %	9M 2024	9M 2023	Change, %
Net sales	852	645	32	2.100	1,945	ಹ
Change total, %	32	27		8	43
Organic sales, %	-	-1		-3	8
Structural change, %	35	24		12	29
Currency effects, %	-4	ব		-1	6
EBITA	165	පිරි	67	339	282	20
EBITA, %	19.3	15.5		16.1	14.5
Capital employed, closing balance	9,914	5,882		9,914	5,882
Return on capital employed R12, %	4.5	4.3	5	4.5	4.3	5

Additional key ratios on pages 25-27

4Net sales per geographic market and per industry are based on full year 2023.

BUSINESS AREA Trelleborg Sealing Solutions

Teleborg Sealing Solutions is a leading global sealing solutions and components depoyed in aerospace, automotive and general industry

Organic sales increased 1 percent year-onyear. Organic sales were unchanged in Europe, but declined in North America. Sales in Asia performed very well. Sales to general industry declined in Europe, although the decline was particularly notable in North America. This was mainly due to weaker deliveries to the construction and agricultural machinery industries. Deliveries to the automotive industry increased in Europe and Asia but declined in North America. Sales to the aerospace industry continued to perform well.

EBITA and the EBITA margin were flat yearon-year. Anticipated synergies attributable to Minnesota Rubber & Plastics will impact sales and earnings positively, primarily next year. Exchange rate effects from the translation of foreign subsidiaries had a negative impact of SEK 27 M on EBITA.

Sales per geography1

Sales per industry1

Excluding items affecting comparability, SEK M	Q3 2024	Q3 2023	Change, %	9M 2024	9M 2023	Change, %
Net sales	4,130	4,158	-J	12,581	12,420	-
Change total, %	-1	18		-	21
Organic sales, %	1	-2		-	-
Structural change, %	2	15		2	15
Currency effects, %	-4	5		-2	5
EBITA	826	837	-1	2,611	2,688	-3
EBITA, %	20.0	20.1		20.8	21.6
Capital employed, closing balance	24,066	23,802		24,066	23,802
Return on capital employed R12, %	13.3	14.9	-11	13.3	14.9	-11

Additional key ratios on pages 25-27

4Net sales per geographic market and per industry are based on full year 2023.

Trelleborg expands engineered coated fabrics business in the US

Trelleborg Group has decided to invest in a new production facility to expand its business for engineered coated fabrics in Rutherfordton, North Carolina, US. The establishment will primarily aim to strengthen Trelleborg's leading positions in aircraft escape slides, water infrastructure, advanced materials for healthcare, and outdoor products.

The new building will be LEED certified, and operations will be carbon-neutral. The investment also enables increased use of biobased polymers and recycled raw materials. In total, Trelleborg is investing more than SEK 300 M in the expanded facility. Groundbreaking is scheduled for the fourth quarter of this year, with production starting in early 2026.

Trelleborg has industry-leading expertise in engineered coated fabrics. With global testing capabilities and a portfolio that includes the most comprehensive range of fabrics and coatings, Trelleborg develops fabrics with unique properties tailored for demanding applications.

The press release was published on July 15, 2024.

Trelleborg finalizes acquisition of Baron Group

The company is a global leader in the manufacturing of advanced precision silicone components.

Baron Group generated sales of approximately SEK 1,000 M in 2023. The company has its head office and two manufacturing facilities in Australia, as well as two additional facilities in China. The business primarily focuses on medical technology solutions and will become part of the Trelleborg Medical Solutions business area, established on April 1, 2024. The transaction was consolidated on July 17.

The press release regarding the acquisition was published on February 6, 2024, and the press release regarding the finalization was published on July 17, 2024.

Trelleborg acquires specialist in thermoplastics for the aerospace industry

Trelleborg Group has, through its Trelleborg Sealing Solutions business area, signed an agreement to acquire the US company Magee Plastics. The company manufactures and performs services on solutions made from high-performance thermoplastic and composite materials for the aerospace industry.

Ted Magee founded the company 56 years ago and is headquartered in Warrendale, Pennsylvania, US. Magee Plastics applies industry-leading design skills, quality, and performance to develop interior solutions to meet complex specifications. For 2023, the company's sales amounted to approximately SEK 230 M.

The aerospace industry is expected to experience healthy growth for many years. To meet the growing demand, Trelleborg is making bolt-on acquisitions and capacityincreasing investments in existing operations. In May, the investment in a state-of-the-art facility in Morocco for the production of sealing solutions for the aerospace industry was announced. The facility will begin operations by the end of 2025.

The transaction is expected to be finalized in the fourth quarter of 2024.

The press release was published on August 24, 2024.

Nomination Committee of Trelleborg AB prior to the 2025 Annual General Meeting

According to a previous resolution by the Annual General Meeting of Trelleborg AB, the Chairman of the Board is assigned the task of annually asking the five largest shareholders, in terms of votes registered on August 31, to appoint one member each to the Nomination Committee prior to the next Annual Genera Meeting.

The following have agreed to participate in the Nomination Committee for the 2025 Annual General Meeting:

• · Ragnar Lindqvist, The Dunker Interests
• Ulrik Grönvall, Swedbank Robur Funds
• Anna Sundberg, Handelsbanken Fonder
• Erik Granström, Folksam
• · Per Trygg. Lannebo Fonder

The Nomination Committee will thus be composed of the same members as for the 2024 Annual General Meeting. The main task of the Nomination Committee is to propose the Board of Directors as well as remuneration to the Board of Directors. Further, the Committee shall submit proposals for Auditor and Auditor fees and Chairman for the Annual General Meeting. The Annual General Meeting will be held in Trelleborg, Sweden, on April 24, 2025.

Shareholders wishing to submit proposals regarding candidates for the Board of Trelleborg may address these by email to valberedningen@trelleborg.com no later than January 31, 2025.

The press release was published on October 4, 2024.

Acquisition strengthens Trelleborg's position in the US seals market

The Trelleborg Group, through its Trelleborg Sealing Solutions business area, has signed an agreement to acquire the US company CRC Distribution. The company is a specialist distributor in polymer sealing solutions and related valueadded services in hydraulics, hydropower, oil and gas, as well as for pumps and compressors.

CRC Distribution is based in Robertsdale, Alabama in the US, with a business focused primarily on the domestic market, but has recently expanded into the Mexican market as well. The company has steadily built up a strong sales organization and offers an advanced e-commerce solution for seals. The company generates annual external sales of just over SEK 170 M.

The transaction is expected to be finalized in the first quarter of 2025.

The press release was published on October 21, 2024.

Trelleborg in collaboration with SSAB on fossil-free steel

Trelleborg has reached an agreement with SSAB for future deliveries of fossil-free steel to be used in shims for brake pads, an important part for eliminating brake noise. There is high demand among vehicle manufacturers for sustainable components. This is especially true in the growing electric car segment, where the car's materials account for a large part of the remaining carbon dioxide emissions after the exhaust gases have been eliminated.

Trelleborg partners with Airbus on hydrogen-powered air travel

Trelleborg is partnering with Airbus for hydrogen sealing applications, supporting the mission to deliver a hydrogen-powered commercial aircraft by 2035. Trelleborg is developing safe and reliable seals for the hydrogen propulsion systems of the ZEROe concept aircraft, enabling Airbus to explore a variety of configurations and hydrogen technologies that will shape the future of lowcarbon flight.

New engineered coated fabric for healthcare

Trelleborg has launched a new fabric from its Dartex Endurance range for healthcare seating. Advanced polymer technology provides exceptional durability and resilience against harsh chemical cleaning agents used in healthcare. The fabric is produced from 100% recycled yarn and certified to Global Recycled Standard. The new fabric premiered at an exhibition in Indianapolis, in the US, in early October.

New facility optimizes flow of products for the aerospace industry

Trelleborg has invested in a new hub to expand logistics capacity for global aerospace customers. The new 1,400-square-meter facility in Burntwood, UK, opened this September. It will serve the growing market for sealing solutions in the aerospace industry. Trelleborg is consolidating its position as a key player in innovative lightweight polymer components. This journey began in the 1950s with leading solutions in aircraft hydraulic systems.

New nozzle gasket enhances safety in chemical rail transport

Trelleborg has launched a new elastomer gasket for the manway located on top of chemical transport tanks. The seal features robust mechanical strength while resisting chemicals and a wide temperature range, minimizing the risk of non-accident releases. The seal is an extension of the Tran-SECURE™ Program, which provides components critical for repairing and maintaining railcars used for chemical transport.

Risk management

Trelleborg serves a broad range of customers in a variety of industries and niches. The business has a wide geographic spread. The Group has operations in around 40 countries, sales are conducted in just over 140 countries worldwide and manufacturing operations are carried out at approximately 100 production units. The business is diversified geographically and within a number of industries, which provides Trelleborg with an effective underlying risk spread.

Demand for the Group's products and solutions largely moves in line with fluctuations in global industrial production. The Group focuses on industries and geographies with good growth that can deliver consistent results even when negative economic fluctuations occur in individual industries.

Long-term risks. Trelleborg has identified the relevant areas based on strategic risks, operational risks, regulatory compliance risks, and financial risks that may result in damage or loss with substantial impact on the entire Group and, therefore, justify management of the risk exposure at Group level.

For information regarding the Group's risks, risk exposure and risk management, refer to the latest Trelleborg Annual Report, www.trelleborg.com.

Short-term risks. Geopolitical uncertainty in several regions could result in increased inflation in several dimensions and create disruptions in delivery and supply chains, thereby complicating logistics and making it more expensive. Trelleborg has continuously addressed challenges that have arisen through flexible and global production, but has also proactively managed prices to address cost increases.

This report has been subject to review by the company's auditor.

Trelleborg, October 24, 2024 Board of Directors of Trelleborg AB (publ)

Review report

Introduction

We have reviewed the interim report for Trelleborg AB (publ) for the period January 1-September 30, 2024. The Board of Directors and the President are responsible for the presentation of this interim report in accordance with IAS 34 and the Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on our review.

Scope of review

We conducted our review in accordance with the International Standard on Review Engagements ISRE 2410, Review of Interim Financial Information Performed by the Intependent Auditor of the Entity. A review consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review has a different focus and is substantially less in scope than an audit conducted in accordance with ISA and other generally accepted auditing practices. The procedures performed in a review do not enable us to assurance that would make us aware of all significant matters that might be identified in an audit. Therefore, the conclusion expressed based on a review does not give the same level of assurance as a conclusion expressed based on an audit.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the interim report is not, in all material respects, prepared for the Group in accordance with IAS 34 and the Annual Accounts Act, and for the Parent Company in accordance with the Annual Accounts Act.

Trelleborg, October 24, 2024 Deloitte AB

Kent Åkerlund Authorized Public Accountant

Notes

This report has been prepared in accordance with IAS 34 Interim Financial Reporting and the applicable rules of the Swedish Annual Accounts Act. Disclosures in accordance with IAS 34.16A appear in addition to the financial statements and their accompanying notes also in other parts of the interim report. The Parent Company applies recommendation RFR 2, Accounting for Legal Entities of the Swedish Financial Reporting Board and Chapter 9 of the Swedish Annual Accounts Act, Interim Reports.

Accounting policies and calculation methods applied in this report are unchanged compared with those applied in the preparation of the annual and consolidated accounts for 2023. No new or revised IFRSs or interpretative statements applied as of January 1, 2024, had any material impact on the consolidated financial statements. For a more detailed description of the accounting policies applied for the Group and Parent Company in this interim report, refer to the 2023 Annual and Sustainability Report.

At the Annual General Meeting, held in April 2024, the decision was taken to introduce a performance share plan, PSP 2024/2027, which includes the President and Group Management, whereby participants invest in shares in Trelleborg AB. Each invested share entitles the holder to receive a maximum of three shares free of charge after the publication of the year-end report for the 2026 fiscal year. Allotment requires compliance with certain performance-based conditions and that the participant remains employed within the Trelleborg Group. For further information, refer to the decision taken at the Annual General Meeting on April 24, 2024. To date, the recognized costs for 2024 are not significant.

Condensed Income Statements

Income Statements, SEK M	Q3 2024	Q3 2023	9M 2024	9M 2023	R12 2024	12M 2023
Net sales	8,442	8,458	25,387	25,865	33,808	34,286
Cost of goods sold	-5,386	-5,478	-16,090	-16,772	-21,513	-22,195
Gross profit	3,056	2,980	9,297	9,093	12,295	12,091
Selling expenses	-678	-648	-1,911	-1,900	-2,537	-2,526
Administrative expenses	-821	-766	-2,457	-2,303	-3,277	-3,123
Research and development costs	-171	-181	-524	-535	-686	-697
Other operating income2	128	211	375	531	636	792
Other operating expenses2	-254	-231	-602	-675	-944	-1,017
Profit from associated companies	O	-4	4	3	-J	-2
EBIT, excluding items affecting comparability	1,320	1,361	4,182	4,214	5,486	5,518
ltems affecting comparability	-73	-111	-239	-354	-499	-614
EBIT	1,247	1,250	3,943	3,860	4,987	4,904
Financial income and expenses2	-128	-44	-211	-69	-249	-107
Profit before tax	1,119	1,206	3,732	3,791	4,738	4,797
Tax	-283	-301	-928	-1,090	-1,154	-1,316
Net profit, continuing operations	836	905	2,804	2,701	3,584	3,481
Net profit, discontinuing operations4	-			6,593		6,593
Net profit, Group	836	905	2,804	9,294	3,584	10,074
equity holders of the parent company	836	906	2,804	9,295	3,584	10,075
- non-controlling interest	O	-J	O	-J	O	-J

* Dhe ropentig to cone and experiences contraction a posts basis Extransment of the copening transmission in concernity increase of france and experior in none and experior o period. This reclassification will have no effect on EBIT or financial income and expenses.

² Q2 2023 includes non-earing francial income of SK 213 M after tax attibutable to concluded interest medies in connection with the Group's tire operation.

? Q 2023 includes a noneouring tax expense of SEK 150 Meter the Group's in e closes to the Group's tire operation. This are spense decined by SEF 50 M in 0 2223.

4 Q2 2023 includes a capital gain attributable to the divestment of the Group's tire and printing blanket operations.

Condensed Income Statements

Earnings per share, SEK2	Q3 2024	Q3 2023	9M 2024	9M 2023	R12 2024	12M 2023
Continuing operations	3.54	3.84	11.74	10.91	15.14	14.31
Discontinuing operations	-			25.93		25.93
Group	3.54	3.84	11.74	36.84	15.14	40.24
Group, excluding items affecting comparability	3.78	4.19	12.50	38.60	16.58	42.68
Continuing operations, excluding items affecting comparability	3.78	4.19	12.50	12.56	16.58	16.64

1 No dilution effects arose.

Number of shares	Q3 2024	Q3 2023	9M 2024	9M 2023	R12 2024	12M 2023
End of period	241,547,186	255,125,919	241,547,186	255,125,919	241,547,186	255,125,919
of which, in treasury	5,437,628	8,108,836	5,437,628	8,108,836	5,437,628	11,696,591
Average number	236,633,571	248,460,458	238,896,901	252,290,047	240,304,515	250,349,374
Statements of comprehensive income, SEK M	Q3 2024	Q3 2023	9M 2024	9M 2023	R12 2024	12M 2023
Net profit, Group	836	905	2,804	9,294	3,584	10,074
Other comprehensive income
Items that will not be reclassified to the income statement
Reassessment of net pension obligation	-25	ਹੈ ਦ	-44	-2	-43	-J
Income tax relating to components of other comprehensive income	5	-3	9	O	இ	O
Total	-20	13	-35	-2	-34	-ਹ
Items that may be reclassified to the income statement
Cash flow hedges	-8	O	-36	-265	-32	-261
Hedging of net investment	120	245	-174	-6	267	435
Translation difference	-995	-576	399	1,483	-1,825	-741
Income tax relating to components of other comprehensive income	-23	-21	43	3	-48	-88
Total	-906	-382	232	1,215	-1,638	-655
Other comprehensive income, net of tax	-926	-369	197	1,213	-1,672	-656
Total comprehensive income	-90	536	3,001	10,507	1,912	9,418
Total comprehensive income attributable to:
equity holders of the parent company	-90	536	3,001	10,507	1,912	9,418
- non-controlling interest	O	O	O	O	O	O

Condensed Balance Sheets

Balance Sheets, SEK M	Sep 30	Sep 30	Dec 31
	2024	2023	2023
Property, plant and equipment	8,481	7,897	7,757
Right-of-use assets	1,679	1,659	1,538
Goodwill	23,941	21,817	20,491
Other intangible assets	6,887	5,822	5,333
Participations in associated companies	57	57	54
Financial non-current assets	164	174	165
Deferred tax assets	547	541	498
Total non-current assets	41,756	37,967	35,836
Inventories	5,827	5,769	5,119
Current operating receivables	7,559	7,468	6,440
Current tax assets	1,347	1,078	853
Interest-bearing receivables	124	297	709
Cash and cash equivalents	2,226	10,558	10,546
Total current assets	17,083	25,170	23,667
Total assets	28,839	63,137	59,503
Share capital	2,620	2,620	2,620
Other capital contributions	226	226	226
Other reserves	4,916	6,554	4,684
Profit brought forward	29,869	25,143	24,117
Net profit for the year	2,804	9,295	10,075
Total	40,435	43,838	41,722
Non-controlling interests	5	5	5
Equity	40,440	43,843	41,727
Interest-bearing non-current liabilities	5,388	8,226	5,344
Other non-current liabilities	59	74	71
Pension obligations	410	340	346
Other provisions	425	296	447
Deferred tax liabilities	1,286	868	799
Total non-current liabilities	7,568	9,804	7,007
Interest-bearing current liabilities	2,010	486	2,953
Current tax liabilities	1,714	1,449	1,241
Other current liabilities	6,715	7,149	6,080
Other provisions	392	406	495
Total current liabilities	10,831	9,490	10,769
Total equity and liabilities	58,839	63,137	59,503

Specification of changes in equity, SEK M

		Attributable to shareholders of the Parent Company						Non-controlling interests		Total
		Share Capital	Other capital contributions			Other reserves	Profit brought forward
	Sep 30	Dec 31	Sep 30	Dec 31	Sep 30	Dec 31	Sep 30	Dec 31	Sep 30	Dec 31	Sep 30	Dec 31
	2024	2023	2024	2023	2024	2023	2024	2023	2024	2023	2024	2023
Opening balance, January 1	2,620	2,620	226	226	4,684	5,339	34,192	29,297	5	6	41,727	37,488
Net profit/loss for the year							2,804	10,075		-J	2,804	10,074
Other comprehensive income					232	-655	-35	-1	-		197	-656
Repurchase own shares							-2,778	-3,880	-		-2,778	-3,880
Cancellation of own shares	-139	-154					139	154	=
Bonus issue	139	154					-139	-154	-			-
Dividend							-1,617	-1,524	-		-1,617	-1,524
Share based Long Term Incentive program
Impact from IAS 291							106	225	-		106	225
Closing balance	2.620	2,620	226	226	4,916	4.684	32.673	34,192	5	ട	40,440	41,727

1 Refers to hyperinflationary accounting in operations in Turkey.

Repurchased own shares that are included in the equity item Profit brought forward		Amount that affected equity,
	Number of shares Sep 30 2024	SEK M Sep 30 2024
Opening repurchased own shares	11,696,591	-6.959
Purchases for the year	7,319,770	-2.778
Cancellations for the year	-13,578,733
Closing repurchased own shares	5,437,628	-9.737

For reasury shares, al rights are voil until such times interes induse the ost of own shares held by the Parent Company. The rumber of own shares is cabilated using the cash/settlement approach.

Condensed Cash flow Statements

Cash flow statements, SEK M	Q3 2024	Q3 2023	9M 2024	9M 2023	R12 2024	12M 2023
Operating activities
EBIT incl part in associated companies	1,247	1,250	3,943	3,860	4,987	4,904
Adjustments for items not included in cash flow from operating activities:
Depreciation, property, plant and equipment	241	235	712	୧୫୧	950	924
Depreciation, right-of-use assets	ਰੇਹ	04	269	272	362	365
Amortization, intangible assets	168	140	441	402	578	ട്ടാറ്റ
Impairment losses, property, plant and equipment	ട	4	8	ਹ ਨ	31	38
Impairment losses, intangible assets	-	3	-	ന	-	3
Dividend from associated companies	।	0	ਜ	8	2	9
Participations in associated companies and other non cash-flow affecting items	1	N	-3	-18	-147	-162
Capital gain in divested operations					87	87
Interest received	17	64	101	242	240	381
Interest paid	-125	-132	-394	-724	-278	-848
Other financial items	-25	।	-24	262	-21	265
Taxes paid	-246	-296	-987	-068	-1,285	-1,266
Cash flow from operating activities before changes in working capital	1,376	1,365	4,067	4,040	5,266	5,239
Cash flow from changes in working capital
Change in inventories	-60	50	-341	-150	-69	122
Change in operating receivables	190	209	-612	-୧୫8	-186	-262
Change in operating liabilities	-52	-2	208	278	-154	156
Cash flow from operating activities	1,454	1,622	3,322	3,720	4,851	5,255
Investing activities
Acquisitions	-4,006	15	-5,105	-416	-5,136	-447
Disposed/discontinuing operations					135	135
Capital expenditure, property, plant and equipment	-388	-358	-1,186	-1,072	-1,643	-1,529
Capital expenditure, intangible assets	-38	-39	-97	-96	-150	-149
Sale of non-current assets	25	5	49	20	59	30
Cash flow from investing activities	-4,407	-377	-6,339	-1,564	-6,735	-1,960
Financing activities
New/utilized loans	1,193		1,680	12,515	1,680	12,515
Amortized loans	-236	-781	-2,307	-20,151	-2,098	-19,942
Amortized leased liabilities	-83	-153	-254	-326	-383	-465
Repurchase own share	-756	-1,191	-2,778	-2,802	-3,856	-3,880
Dividend - equity holders of the parent company			-1,617	-1,524	-1,617	-1,524
Cash flow from financing activities	118	-2,125	-5,276	-12,288	-6,284	-13,296
Total cash flow, continuing operations	-2,835	-880	-8,293	-10,132	-8,162	-10,001
Total cash flow, discontinuing operations		-114		15,884		15,884
Cash flow for the period, Group	-2,835	-994	-8,293	5,752	-8,162	5,883
Cash and cash equivalents
At beginning of the period, continuing operations	5,141	11,628	10,546	3,924	10,558	3,924
At beginning of the period, discontinuing operations				-835		-835
Exchange rate differences	-80	-76	-27	47	-170	-96
Cash and cash equivalents at end of period	2,226	10,558	2,226	10,558	2,226	10,546

Condensed Cash flow Statements

Change in liabilities from financing activities, Group, SEK M				Non-cash changes
	Dec 31 2023	Transfer between non- current and current loans	Cash changes	Acquisitions	Translation differences	Fair value changes	Lease liabilities	Pension liabilities	Sep 30 2024
Non-current loans	4,024	-800	-458		42			-	2,808
Current loans	2,561	800	-1,870		ਤਾ			-	1,522
Other non-current financial liabilities	O		1,181		-48			-	1,133
Other current financial liabilities	106		-159		222			-	169
Lease liabilities	1,606		-174		20		314	-	1,766
Pension obligations	346		20		0			44	410
Total	8,643		-1,460		267		314	44	7,808

Trelleborg employs a number of alternative performance measures related to financial position, including return on equity and capital employed, net debt, equity ratio and equity/assets ratio. The Group deems the key figures useful for the readers of its financial reports as a complement for assessing the possibility of dividends, implementing strategic investments and considering the Group's ability to meet its financial commitments. In addition, Trelleborg uses the cash-flow measurements of operating cash flow and free cash flow to provide an indication of the funds the operations generate to be able to implement strategic investments, make amortizations and pay returns to the shareholders. Trelleborg uses the operational

performance metrics of EBITA and EBIT excluding items affecting comparability, which the Group considers to be relevant for investors seeking to understand its earnings generation before items affecting comparability.

For further descriptions and calculation of key figures, visit www.trelleborg.com/en/investors/key-figures.

SEK M	Q3 2024	Q3 2023	9M 2024	9M 2023	R12 2024	12M 2023
Net sales
Trelleborg Industrial Solutions	3,661	3,663	11,337	11,483	15,103	15,249
Trelleborg Medical Solutions	852	645	2,100	1,945	2,737	2,582
Trelleborg Sealing Solutions	4,130	4,158	12,581	12,420	16,607	16,446
Group activities		165		549	178	727
Eliminations	-201	-173	-631	-532	-817	-718
Continuing operations	8,442	8,458	25,387	25,865	33,808	34,286
EBITA, excluding items affecting comparability
Trelleborg Industrial Solutions	548	594	1,804	1,789	2,390	2,375
Trelleborg Medical Solutions	165	ට පිට	339	282	440	383
Trelleborg Sealing Solutions	826	837	2,611	2,688	3,419	3,496
Group activities	-75	-43	-201	-181	-272	-252
Continuing operations	1,464	1,487	4,553	4,578	5,977	6,002
EBITA %, excluding items affecting comparability
Trelleborg Industrial Solutions	15.0	16.2	15.9	15.6	15.8	15.6
Trelleborg Medical Solutions	19.3	15.5	16.1	14.5	16.0	14.8
Trelleborg Sealing Solutions	20.0	20.1	20.8	21.6	20.6	21.3
Continuing operations	17.3	17.6	17.9	17.7	17.7	17.5

Net sales per market continuing operations, organic growth, %	Q3 2024	03 2023 - -	9M 2024	9M 2023
Europe (46)
North- and South America (35)
Asia and rest of the world (19)	14	-10
Total (100% refer to share 2023)

Bridge net sales	Q3 2023	Organic	Structural	Currency	Q3 2024
	SEK M	sales, %	change, %	effects, %	SEK M
Trelleborg Industrial Solutions	3,663	2		-3	3,661
Trelleborg Medical Solutions	645		35	-4	852
Trelleborg Sealing Solutions	4,158		2	-4	4,130
Group activities/Eliminations	-8				-201
Continuing operations	8,458	T	N	-3	8,442
Exchange rate differences impacting EBITA excluding items affecting comparability?, SEK M				Q3 2024	9M 2024
Trelleborg Industrial Solutions				-17	-27
Trelleborg Medical Solutions				-4	-3
.				A

Trelleborg Sealing Solutions -27 -48 Group activities । -2 -47 -80 Continuing operations

1 Impact on EBITA excluding items affecting comparability in translation of foreign subsidiaries.

EBIT specification, continuing operations, SEK M	Q3 2024	Q3 2023	9M 2024	9M 2023	R12 2024	12M 2023
Excluding items affecting comparability:
EBITDA	1,821	1,831	5,605	5,578	7,395	7,368
Depreciation/write-down, property, plant and equipment	-332	-328	-981	-960	-1,329	-1,308
Amortization/write-down, intangible assets	-25	-16	-71	-40	-89	-58
EBITA	1,464	1.487	4,553	4,578	5,977	6,002
Amortization of surplus values related to acquisitions	-144	-126	-371	-364	-491	-484
EBIT	1,320	1,361	4,182	4,214	5,486	5,518
ltems affecting comparability	-73	-111	-239	-354	-499	-614
EBIT	1.247	1,250	3,943	3,860	4,987	4,904

Specification of capital employed, SEK M	Sep 30	Sep 30	Dec 31
	2024	2023	2023
Working capital	5,829	5,370	4,595
Property, plant and equipment	8,481	7,897	7,757
Right-of-use assets	1.679	1.659	1,538
Intangible assets	30,828	27.639	25,824
Participations in joint ventures/associated companies	57	57	54
Continuing operations	46,874	42,622	39,768

SEK M	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Net sales
Trelleborg Industrial Solutions	3,661	3,955	3,721	3,766	3,663	3,980	3,840	3,691	3,472
Trelleborg Medical Solutions	852	୧୧୮	283	637	645	647	653	eta	509
Trelleborg Sealing Solutions	4,130	4,349	4,102	4,026	4,158	4,048	4,214	3,809	3,533
Group activities				178	165	194	190	169	141
Eliminations	-201	-258	-172	-186	-173	-173	-186	-175	-119
Continuing operations	8,442	8,711	8,234	8,421	8,458	8,696	8,711	8,113	7,536
Organic sales, %
Trelleborg Industrial Solutions	2	-J	-3	-J	-J	6	8	ਹ 8	17
Trelleborg Medical Solutions	।	2	-11	ਜ	-J	9	ਹਤ	20	16
Trelleborg Sealing Solutions	।	5	-2	ਜ	-2	O	4	ਹੈ ਹ	ਹਤ
Continuing operations	ਜ	1	-3	0	-1	3	7	ਹ ਤ	15
EBITA, excluding items affecting comparability
Trelleborg Industrial Solutions	548	e43	e13	586	594	632	563	ਵਧਰ	507
Trelleborg Medical Solutions	165	92	82	101	ට බ	100	83	81	83
Trelleborg Sealing Solutions	826	921	864	808	837	901	950	831	824
Group activities	-75	-57	-୧୨	-71	-43	-70	-68	-01	-78
Continuing operations	1,464	1,599	1,490	1,424	1,487	1,563	1,528	1,340	1,336
EBITA %, excluding items affecting comparability
Trelleborg Industrial Solutions	15.0	16.3	16.5	15.6	16.2	15.9	14.7	14.0	14.6
Trelleborg Medical Solutions	19.3	14.0	14.0	15.7	15.5	15.4	12.8	13.1	16.3
Trelleborg Sealing Solutions	20.0	21.2	21.1	20.1	20.1	22.3	22.5	21.8	23.3
Continuing operations	17.3	18.4	18.1	16.9	17.6	18.0	17.5	16.5	17.7

Condensed Income Statements, SEK M	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Net sales	8,442	8,711	8,234	8,421	8,458	8,696	8,711	8,113	7,536
Cost of goods sold	-5,386	-5,465	-5,239	-5,423	-5,478	-5,687	-5,607	-5,267	-4,835
Gross profit	3,056	3,246	2,995	2,998	2,980	3,009	3,104	2,846	2,701
Selling expenses	-618	-660	-633	-626	-648	-615	-637	-610	-563
Administrative expenses	-821	-835	-801	-820	-766	-763	-774	-815	-687
Research and development costs	-171	-180	-173	-162	-181	-176	-178	-175	-132
Other operating income2	128	105	142	261	211	212	108	72	136
Other operating expenses2	-254	-194	-154	-342	-231	-228	-216	-80	-177
Profit from associated companies	O	1	3	-5	-4	ਤੇ	ব		O
EBIT, excluding items affecting comparability	1,320	1,483	1,379	1,304	1,361	1,442	1,411	1,239	1,278
ltems affecting comparability	-73	-111	-55	-260	-111	-194	-49	-115	-68
EBIT	1,247	1,372	1,324	1,044	1,250	1,248	1,362	1,124	1,210
Financial income and expenses2	-128	-63	-20	-38	-44	140	-165	-76	-69
Profit before tax	1,119	1,309	1,304	1,006	1,206	1,388	1,197	1,048	1,141
Tax	-283	-321	-324	-226	-301	-491	-298	-283	-279
Net profit, continuing operations	836	088	980	780	905	897	899	765	862
Net profit, discontinuing operations4						6,130	463	431	380
Net profit, Group	836	988	980	780	905	7,027	1,362	1,196	1,242
equity holders of the parent company	836	088	980	780	906	7,027	1,362	1,197	1,243
- non-controlling interest	O	O	O	O	-J	O	O	-J	-1

* the creating home and experied on a goss basis. Exhange rate differences we ecossily been one operatigi torne and experses of france and experior one and experior one and e period. This reclassification will have no effect on EBIT or financial income and expenses.

² Q2 2023 holudes non-ecuring financial income of SEK 213 M after tax attibutable to concluded interest of the Group's tre operation.

? Q 2023 includes a noneouring tax expered the Group's legal studium after the Group's in operation. This are spense decined by SEK 50 M (0 2023.

4 Q2 2023 includes a capital gain attributable to the divestment of the Group's tire and printing blanket operations.

Continuing operations	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Net sales, SEK M	8,442	8,711	8,234	8,421	8,458	8,696	8,711	8,113	7,536
Organic sales, %			-3	0	-J	3		15	15
EBITDA, excl items affecting comparability, SEK M	1,821	1,950	1,834	1,790	1,831	1,891	1,856	1,654	1,621
EBITDA, excl items affecting comparability, %	21.6	22.4	22.2	21.3	21.7	21.7	21.3	20.4	21.5
EBITA, exclitems affecting comparability, SEK M	1,464	1,599	1,490	1,424	1,487	1,563	1,528	1,340	1,336
EBITA, excl items affecting comparability, %	17.3	18.4	18.1	16.9	17.6	18.0	17.5	16.5	17.7
EBIT, excl items affecting comparability, SEK M	1,320	1,483	1,379	1,304	1,361	1,442	1,411	1,239	1,278
EBIT, excl items affecting comparability, %	15.6	17.0	16.8	15.5	16.1	16.6	16.2	15.3	17.0
Items affecting comparability, SEK M	-73	-111	-55	-260	-111	-194	-49	-115	-68
EBIT, SEK M	1,247	1,372	1,324	1,044	1,250	1,248	1,362	1,124	1,210
Earnings per share, excluding items affecting comparability, SEK	3.78	4.49	4.23	4.08	4.19	4.71	3.66	3.40	3.52
Operating cash flow, excl items affecting comparability, SEK M	1,422	1,190	718	1,321	1,608	1,585	549	1,678	928
Cash conversion ratio, excl items affecting comparability, R12, %	85	88	95	92	ටිට	88	75	74	63
Capital employed, closing balance, SEK M	46,874	43,815	42,683	39,768	42,622	43,111	42,299	41,309	31,862
Return on capital employed, R12, %	11.2	11.5	11.4	11.5	12.0	12.8	14.2	15.3	15.7

Group total	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Earnings per share, excl items affecting comparability, SEK	3.78	4.49	4.23	4.08	4.19	28.83	5.58	5.10	5.00
Earnings per share, Group, SEK	3.54	4.14	4.06	3.40	3.84	27.67	5.33	4.66	4.79
Free cash flow, SEK M	970	670	194	897	1,075	658	-104	1,823	499
Net debt, closing balance, SEK M	-5,381	-1,981	વેરૂવે છે. જિલ્લામાં આવેલું એક ગામનાં લોકોનો મુખ્ય વ્યવસાય ખેતી, ખેતમજૂરી તેમ જ પશુપાલન છે. આ ગામનાં લોકોનો મુખ્ય વ્યવસાય ખેતી, ખેતમજૂરી તેમ જ પશુપાલન છે. આ ગામનાં મુખ્યત્વે	2,682	1,871	1,881	-21,628	-20,897	-12,038
Net debt/EBITDA	0.8	0.3	-0.1	-0.2	-0.1	-0.1	2.4	2.4	1.5
Debt/equity ratio, %	ਹਤ	ട്	-2	-6	-4	-11	56	56	33
Return on equity, R12, %	8.5	8.5	23.7	25.4	26.0	27.2	14.5	14.9	14.0
Equity/assets ratio, %	69	70	72	70	ട്ടു	ല്ല	50	49	ട്ടെ

Net sales and EBITA by operating segment, SEK M				Q3 2024
		Net sales			Of which items affecting	Of which items affecting
	External	Internal	Total	EBITA	comparability	comparability
Trelleborg Industrial Solutions	3,604	57	3,661	496	-52	O
Trelleborg Medical Solutions	829	23	852	150	-15	-
Trelleborg Sealing Solutions	4,009	121	4,130	820	-6	O
Group activities/Elimination		-201	-201	-75		-
Total	8,442		8,442	1,391	-73	O
Amortization of surplus values linked to acquisitions				-144
Financial income				29
Financial expenses				-157
Income tax				-283
Net profit, continuing operations				836
Net profit, discontinuing operations				-
Net profit, Group				836

Net sales and EBITA by operating segment, SEK M	Q3 2023
	Net sales				Of which items affecting	Of which items affecting
	External	Internal	Total	EBITA	comparability	comparability
Trelleborg Industrial Solutions	3,600	ട്ടി	3,663	496	-98	-4
Trelleborg Medical Solutions	627	18	645	ටිට		-
Trelleborg Sealing Solutions	4,059	ರಿದಿ	4,158	824	-13	O
Group activities/Elimination	172	-180	-8	-43		-
Total	8,458		8,458	1,376	-111	-4
Amortization of surplus values linked to acquisitions				-126
Financial income				81
Financial expenses				-125
Income tax				-301
Net profit, continuing operations				905
Net profit, discontinuing operations
Net profit, Group				905

Nine months 2024

During the second quarter of 2024, Trelleborg, through its Trelleborg Industrial Solutions business area, finalized the acquisition of BP-Tech Group, including Boldan and Spraypoxy, a Finnish pipe repair specialist.

During the second quarter of 2024, Trelleborg, through its Trelleborg Sealing Solutions business area, finalized the acquisition of the South Korean MNE Group, which consists of the companies Materials Nano Engineering and Materials Nano Solution and is primarily focused on manufacturing high-performance specialty seals for both the aftermarket and OE manufacturers of semiconductor production equipment.

During the third quarter of 2024, Trelleborg, through its Trelleborg Medical Solutions business area, finalized the acquisition of Baron Group. The company is a global leader in the manufacturing of advanced precision silicone components.

All acquisitions completed in 2024 refer to 100 percent of the shares in the respective companies. Certain minor adjustments were made to purchase price allocations attributable to acquisitions made in 2023.

Nine months 2023

During the first quarter of 2023, Trelleborg, through its Trelleborg Sealing Solutions business area, signed agreements and finalized the acquisitions of two minor privately owned Swiss manufacturers of special tools for complex silicon components: Lehmann AG and Oechslin AG.

During the second quarter of 2023, Trelleborg, through its Trelleborg Industrial Solutions business area, finalized the acquisition of an operation specializing in automotive boots for the fast-growing Indian light vehicles market. The operation was part of the India-based privately owned company Injectoplast.

During the second quarter of 2023, Trelleborg, through its Trelleborg Sealing Solutions business area, finalized the acquisition of an operation from the US-based privately owned 4M Company, Inc. The operation specializes in sealing solutions for aerospace and industrial applications.

The acquisition of an operation from the 4M Company, Inc. was an acquisition of assets and liabilities, while the other acquisitions finalized in 2023 pertained to 100 percent of the shares in the respective companies. Certain minor adjustments were made to purchase price allocations attributable to acquisitions made in 2022.

Acquisitions, SEK M	9M 2024	9M 2023
Customer relationships1	1,799	163
Other intangible assets	2
Property, plant and equipment	262	5
Right-of-use assets	77	14
Deferred tax assets	7	15
Shares in associated companies
Interest-bearing receivables	186
Inventories	294	23
Operating receivables	339	41
Current tax asset
Cash and cash equivalents	219	13
Deferred tax liabilities	-477	-29
Interest-bearing liabilities	-1.466	-20
Post employment benefits	0	0
Provision obligations		-4
Current tax liability	-34	-6
Operating liabilities	-296	-39
Net assets	912	176
Goodwill	3,132	233
Total purchase price	4,044	409
Cash and other net debt in acquired operations	1.061	7
Impact shown in cash flow statement	5,105	416

1 Excess value of customer relationships are amortized over 10-12 years.

The goodwill recognized above for 2024 was primarily attributable to synergy effects expected after the acquisition. The fair value of acquired, identifiable intangible assets is preliminarily pending final measurement of these assets.

Discontinuing operations

The Group's tire and printing blanket operations were divested to Yokohama Rubber and Continental, respectively, on May 2, 2023. The total capital gain amounts to SEK 6,189 M before tax and SEK 6,052 M after tax.

Income statement for discontinuing operations, SEK M	Q3 2024	Q3 2023	9M 2024	9M 2023	R12 2024	12M 2023
Net sales	-			5,108		5,108
Operating expenses				-4,290		-4.290
Capital gain	-			6,189		6.189
EBIT	-			7,007		7,007
Financial items	-			-124		-124
Profit before tax				6,883		6.883
Tax	-			-290		-290
Net profit	-			6,593		6,593

Cash-flow statement for discontinuing operations, SEK M	9M 2024	9M 2023
Cash flow from operating activities		-345
Cash flow from investing activities		26.099
Cash flow from financing activities		-9.870
Total cash flow from discontinuing operations		15.884

Financial instruments - classification and valuation

A description of how fair value is calculated is provided below and in Accounting policies in the latest Annual Report.

At September 30, 2024, SEK M	Assets measured at amortized cost	Assets at fair value in profit and loss		Derivatives used for hedging purposes, measured at fair value
		Carrying amount	Measurement level	Carrying amount	Measurement level	Total
Assets in the balance sheet
Derivative instruments		38	2	111	2	149
Financial non-current assets	110	49	3			159
Accounts receivable	5,541					5,541
Interest-bearing receivable
Cash and cash equivalents	2,226					2,226
Total	7,878	87		111		8,076

	Liabilities measured at amortized cost	Liabilities at fair value in profit and loss		Derivatives used for hedging purposes, measured at fair value
		Carrying amount	Measurement level	Carrying amount	Measurement level	Total
Liabilities in the balance sheet
Derivative instruments		ലും	2	8	2	77
Interest-bearing non-current liabilities	2,809	1,133	3			3,942
Interest-bearing current liabilities	1,622					1,622
Lease liabilities according to IFRS 16	1.766					1,766
Accounts payable	2.387					2,387
Total	8,584	1.202		8		9,794

Measurement techniques used to calculate fair value of level 2

Level 2 derivatives comprise currency futures and interest swaps and are primarily used for hedging purposes, but also for trading. Measurement of the fair value of currency futures is based on the published forward rates in an active market and on the discounted contractual cash flows. Measurement of interest swaps is based on forward interest rates prepared on the basis of observable Swedish interest curves and discounting of the contractual cash flows.

Measurement techniques used to calculate fair value of level 3

A financial interest-bearing receivable of SEK 49 M (47) is recognized at fair value. An assessment of the most likely outcome has been determined. The present value of this amount has been calculated. Interest-bearing non-current liabilities include additional purchase payments according to contract of SEK 1,133 M (-). An assessment of the most likely outcome has been determined. The present value of this amount has been calculated.

Disclosure on fair value of borrowings and other financial instruments

Financial interest-bearing liabilities, except for financial derivatives that adjust loans, are recognized at amortized cost. Changes in interest-rate levels and credit margins create differences between fair value and amortized cost. Measurement at fair value would decrease the Group's non-current loans by SEK 2 M. No remeasurement was made for current loans because the carrying amount is regarded as a good estimate of the fair value due to their short term.

Financial instruments - classification and valuation

At September 30, 2023, SEK M	Assets measured at amortized cost	Assets at fair value in profit and loss		Derivatives used for hedging purposes, measured at fair value
		Carrying amount	Measurement level	Carrying amount	Measurement level	Total
Assets in the balance sheet
Derivative instruments		145	2	206	2	351
Financial non-current assets	83	47	3			130
Accounts receivable	5,655					5,655
Interest-bearing receivable	।
Cash and cash equivalents	10,558					10,558
Total	16,297	192		206		16,695
	Liabilities measured at amortized cost	Liabilities at fair value in profit and loss		Derivatives used for hedging purposes, measured at fair value
		Carrying amount	Measurement level	Carrying amount	Measurement level	Total
Liabilities in the balance sheet
Derivative instruments		102	2	38	2	140
Interest-bearing non-current liabilities	6,811					6,811
Interest-bearing current liabilities	ട					ട
Lease liabilities according to IFRS 16	1,776					1,776

102

2,412

11,005

Accounts payable

Total

2,412

11,145

-

38

Parent Company

Condensed Income statements, SEK M	Q3 2024	Q3 2023	9M 2024	9M 2023	R12 2024	12M 2023
Net sales	158	154	466	439	662	635
Administrative expenses	-76	-57	-224	-401	-381	-558
Other operating income	4		ி		16	8
Other operating expenses	-32	-43	-95	-106	-415	-426
EBIT	54	54	156	-67	-118	-341
Financial income and expenses-	222	2,625	1,693	17,441	1,495	17,243
Profit before tax	276	2,679	1,849	17,374	1.377	16,902
Appropriations	!		-		450	449
Tax	32	17	48	55	-87	-80
Net profit	308	2,696	1,898	17,429	1,740	17,271

1 Q2 2023 includes effects from divestments of the Group's tire and printing blanket operations.

Condensed Balance sheets, SEK M	Sep 30	Sep 30	Dec 31
	2024	2023	2023
Property, plant and equipment	8	9	9
Intangible assets	4	7	6
Financial assets	37,858	38,239	37,873
Total non-current assets	37,870	38,255	37,888
Current receivables	528	356	115
Current tax asset	55	5
Interest-bearing receivables	0		788
Cash and cash equivalents		1	0
Total current assets	583	362	903
Total assets	38.453	38,617	38.791
Equity	23,828	27,562	26,325
Untaxed reserves	100	-	101
Interest-bearing non-current liabilities	0	0	0
Other non-current liabilities	65	62	65
Total non-current liabilities	65	62	65
Interest-bearing current liabilities	14,284	10.852	12.087
Current tax liabilities			60
Other current liabilities	176	141	153
Total current liabilities	14.460	10,993	12,300
Total equity and liabilities	38.453	38,617	38.791

Other

Related parties. No material changes occurred for the Group or the Parent Company in relations or transactions with related parties, compared with what is described in Note 12 of the 2023 Annual Report.

At the Annual General Meeting, held in April 2024, the decision was taken to introduce a performance share plan, PSP 2024/2027, which includes the President and Group Management, whereby participants invest in shares in Trelleborg AB. Each invested share entitles the holder to receive a maximum of three shares free of charge after the publication of the year-end report for the 2026 fiscal year. Allotment requires compliance with certain performance-based conditions and that the participant remains employed within the Trelleborg Group. For further information, refer to the decision taken at the Annual General Meeting on April 24, 2024. To date, the recognized costs for 2024 are not significant.

The Trelleborg Group is a world leader in engineered polymer solutions. The Group had sales of approximately SEK 34 billion in 2023 and operations in some 40 countries.

With Trelleborg's material expertise and industry insight in cutting-edge areas with rigorous requirements, such as the aerospace and automotive industries, as well as healthcare & medical, the Group is creating the sustainable industrial solutions of today, shaped by such trends as electrification, digitalization, industrial automation, and new sustainable materials. The Group's polymer-based solutions are often critical to the functionality of the customers' advanced end products.

The engineered solutions are based on unique sealing and damping properties of polymers such as rubber and plastic. The solutions save energy and reduce CO2 emissions, eliminate noise and vibrations, and dramatically extend the lifecycles of machines and medical devices as well as skyscraper facades.

Trelleborg's climate targets were validated by the Science Based Targets initiative (SBTi) in the fourth quarter of 2023. Resource efficiency and circularity are becoming part of Trelleborg's DNA.

Better platform than ever. Trelleborg's way of achieving results - a strongly decentralized organization built on local responsibility and personal dedication - form the basis of the Group's model for profitability and business success.

Despite the turbulence in its operating environment, Trelleborg delivered a strong financial performance in recent years. Trelleborg's financial capacity is healthy.

Accelerated growth. A number of industries have been identified as growing more than the industrial average in the years ahead – Trelleborg is therefore placing additional focus on developing its business in these segments.

The fast-growing industries will act as a driving force for other areas at Trelleborg, which through innovations, differentiation and greater global reach is expected to grow in the upper range of the industrial average.

There will be a greater focus on company acquisitions that strengthen Trelleborg in attractive industries.

Sustainability leader in the industry. Trelleborg is working systematically to increase the share of bio-based and recycled raw materials in everything it develops. The ambition is to be the sustainability leader in the industry. The Group's climate target is to halve direct and indirect CO2 emissions by the end of 2030 compared with the base year 2021, and, during the same period, reduce emissions along the value chain by 25 percent.

Bespoke strategy for each business. A common feature shared by all parts of Trelleborg is its engineered polymers with unique sealing and damping properties. The longstanding customer relationships are all built on close innovation with renowned industrial players.

Trelleborg's operational businesses are different, so they have bespoke strategies to achieve leading positions in their markets.

An improved Trelleborg. The technological development and climate transition in society favor the Group, where Trelleborg is playing a part and developing the industrial solutions of tomorrow. The Group raised both its financial and sustainability targets in conjunction with its Capital Markets Day held in May 2023.

Trenery grinustries
	General industry	Automotive	medical	Aerospace
Trelleborg Industrial Solutions	83%	8%	3%	6%
Trelleborg Medical Solutions	0%	0%	100%	0%
Trelleborg Sealing Solutions	56%	28%	0%	16%
Continuing operations	65%	16%	9%	10%

Net sales per industry and business area based on full-year 2023.

Presentation of the report

A combined webcast and telephone conference will be held on October 24 at 10:00 a.m. CEST.

To follow the presentation webcast, either access this link or visit www.trelleborg.com.

To participate via teleconference, please register here. After registration, you will be provided phone numbers and a conference ID to access the call. You can ask questions verbally via the teleconference.

The webcast will be available on Trelleborg's website following the presentation.

Financial calendar

Year-end report 2024 Interim report January-March 2025 Annual General Meeting 2025 Interim report April-June 2025 Interim report July-September 2025 Year-end report 2025

January 29, 2025 April 24, 2025 April 24, 2025 July 17, 2025 October 24, 2025 January 29, 2026

For further information

Investors/analysts Christofer Sjögren, VP Investor Relations Phone: +46 (0)410 - 670 68 Mobile: +46 (0)708 - 66 51 40 E-mail: christofer.sjogren@trelleborg.com

Media

Tobias Rydergren, VP Communications Phone: +46 (0)410 - 670 15 Mobile: +46 (0)733 - 74 70 15 E-mail: tobias.rydergren@trelleborg.com

For information about the Trelleborg Group, Annual Reports, the stakeholder magazine T-TIME and other information, please visit the Group's website www.trelleborg.com.

This is a translation of the company's Interim Report in Swedish.

Published on October 24, 2024 | TRELLEBORG AB - INTERIM REPORT JULY-SEPTEMBER 2024

This report contains forward-looking statements that are based on the current expectations of the management of Trelleborg. Although management believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove correct. Accordingly, results could differ materially from those implied in the forwardlooking statements as a result of, among other factors, changes in economic, market and competitive conditions, changes in the regulatory environment and other government actions, fluctuations in exchange rates and other factors.

This information is information that Trelleborg AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was issued, by the contact persons above, for publication on October 24, 2024 at 7:45 a.m. CEST.

Trelleborg AB (publ) Corp. Reg. No. 556006-3421 PO Box 153, SE-231 22 Trelleborg, Sweden. Phone: +46 (0)410-670 00 www.trelleborg.com