Record production. Record revenue. Record profit

Fourth Quarter 2023

Revenue for Period: SEK 36.0 million (SEK 32.9 million), up 9% year-on-year. Recurring revenue increased by 10% to SEK 33.3 million (SEK 30.2 million), to account for 92.5% of the revenue
Operating Result: SEK 15.6 million (SEK 8.0 million), up 95%, yielding 43.4% (24.3%) operating margin
Earnings per Share: SEK 2.18 per share (SEK 1.11 per share), up 97%
Cashflow from Operations: SEK 10.7 million (SEK 11.8 million)
9 million tonnes of CO2 saving in 2023; 59 million tonnes saved since 1999
11 consecutive quarters of year-on-year production growth
Share buyback programme of up to SEK 5 million initiated: 11,338 shares acquired as of 31 December 2023 (SEK 1.2 million); 22,601 acquired as of 28 February 2024 (SEK 2.4 million)

Full Year 2023

Revenue for Period: SEK 134.4 million (SEK 118.7 million), up 13% year-on-year, benefitting from 6.3% year-on-year production increase, strong consumables sales and favourable exchange rates. Recurring revenue increased by 12% to SEK 127.0 million (SEK 113.4 million), to account for 94.5% of the revenue
Operating Result: SEK 42.7 million (SEK 30.6 million), yielding 31.8% (25.8%) full-year operating margin
Earnings per Share: SEK 5.94 per share (SEK 4.68 per share), up 27%
Cashflow from Operations: SEK 45.5 million (SEK 25.4 million), up 79% following improved operating results and reduced inventory
Dividend: Proposed ordinary dividend of SEK 5.50 per share (SEK 5.00 per share) and extraordinary dividend of SEK 0.60 per share (SEK 0.50 per share), equivalent to SEK 43.1 million (SEK 39.0 million), to be paid in two equal instalments
Installed Base: 57 (57) installations, 25 (25) fully automated systems, 25 (25) mini-systems and seven (seven) tracking systems) in 13 (13) countries

Key Facts and Figures

	October−December		January−December
AMOUNTS IN SEK MILLION, unless otherwise stated	2023	2022	%	2023	2022	%
Annualised Engine Equivalents, millions	3.7	3.5	6%	3.7	3.5	6%
Recurring revenue*	33.3	30.2	10%	127.0	113.4	12%
Revenue**	36.0	32.9	9%	134.4	118.7	13%
Gross margin, %	70.8	68.6	3%	73.3	73.1	0%
Operating result	15.6	8.0	95%	42.7	30.6	40%
Operating margin, %	43.4	24.3	78%	31.8	25.8	23%
Earnings per share, SEK**	2.18	1.11	98%	5.94	4.68	27%
Dividend per share, SEK	2.75	2.50	10%	5.50	5.00	10%

* Recurring revenue from production fees, consumables and software licence fees

** According to IFRS. All other key ratios and share data are defined as Alternative Performance Measures (APMs).

Definition of key ratios can be found after "Key Ratio and Share Data - Group" in this Report.

CEO Message

Record revenue on strong consumables sales

Fourth quarter revenue finished up 9% at SEK 36.0 million, benefitting from an 11.7% increase in Sampling Cup shipments, a 5.6% increase in year-on-year series production, and favourable exchange rates. The continued growth in series production resulted in four quarterly records again in 2023, extending the current string of year-onyear increases to 11 consecutive quarters.

Following strong production of 4.2 million Engine Equivalents in the third quarter, production flattened to 3.7 million Engine Equivalents in the fourth quarter. The reduction was primarily due to a five-week stoppage on one major production line, for maintenance reasons unrelated to CGI or SinterCast, and due to the normal Christmas shutdown period. The five-week stoppage affected the annualised fourth quarter volume by approximately 300,000 Engine Equivalents. The 4Q volume was also affected by the cessation of production at the original Scania foundry in Sweden, where SinterCast has supported CGI production since 2013. The planned production stop at the original foundry follows the successful ramp at the new Scania foundry and, following an initial inventory alignment, will not have any ongoing effect on volumes, as all Scania CGI components are produced at SinterCast foundries. Despite the decrease in year-end volume, cost reduction initiatives implemented during the third quarter, together with two retirements in the second quarter, contributed to a 95% increase in the fourth quarter operating result. The operating result finished at SEK 15.6 million (SEK 8.0 million), yielding an operating margin of 43.4% (24.3%).

Full-year series production established a new record, finishing up 6.3% at 3.7 million Engine Equivalents. Together with strong consumables sales, a 76% increase in installation revenue and favourable exchange rates, full-year revenue increased by 13%. Full-year revenue amounted to SEK 134.4 million, of which 94.5% was derived from recurring revenue related to series production, including the Production Fee levied for each Engine Equivalent, consumable sales, and software licence fees. The full year operating margin finished at 31.8%, providing a significant increase over the previous year (25.8%) and setting a marker toward our full-year goal of 40% by 2028.

We estimate that approximately 1.5 million engines were produced during 2023 with "SinterCast-Inside". Commercial vehicles provided the largest contribution to the full-year series production, with 16% growth, accounting for 51% of the total volume. As we have said for more than ten years, commercial vehicles provide the largest growth opportunity for SinterCast, as most heavy duty commercial vehicles continue to evolve toward CGI to improve engine performance and fuel efficiency. The remainder of the 2023 production volume was for Super-Duty pick-up trucks (30%), full-size pick-up trucks (10%), mid-size pick-up trucks and SUVs (5%), and off-road equipment (4%). With more than 95% of our series production derived from commercial vehicles, pick-up trucks and industrial equipment, we estimate that the improved fuel efficiency of the vehicles that use our technology saved approximately 9 million tonnes of CO2 in 2023. This increases our cumulative contribution since the start of our series production in 1999 to 59 million tonnes, providing a significant step toward our goal of 100 million tonnes of CO2 reduction by 2028.

With more than 95% of our series production derived from commercial vehicles, pick-up trucks and industrial equipment, we estimate that the improved fuel efficiency of the vehicles that use our technology saved approximately 9 million tonnes of CO2 in 2023.

Series production for the fourth quarter finished at 3.7 million Engine Equivalents, providing eleven consecutive quarters of yearon-year growth. Full year series production also amounted to 3.7 million Engine Equivalents, providing 6.3% growth.

Despite the positive market outlook, we previously announced that one of our high volume programmes will reach its end-of-life stage during mid-2024, causing a temporary decrease in volume. It is not yet clear if the five million Engine Equivalent milestone will be reached before the stoppage occurs. Regardless, the temporary decrease does not change our ability to surpass the five million Engine Equivalent milestone and we maintain our ambition to reach the seven million Engine Equivalent milestone, with long-term growth beyond.

During the quarter, in-house activities continued to strengthen the supply base to support the future market growth and to ensure the long-term security of supply. The activities are related to the ordering of tooling for the production of the patented Sampling Cup, including new tooling at the current sole supplier in Sweden after 24 years of continuous production, and the ongoing development of a second source for Sampling Cup production in Slovakia. To date, the total capital investments for these proactive expansions amounts to approximately SEK 4.3 million, of which SEK 0.6 million was allocated to the fourth quarter.

Positive installation outlook for 2024

In hindsight, 2023 was a good year for installation revenue. With only one installation commitment before the start of the year, we pulled together several orders for spare parts and system upgrades, and secured a new mini-system installation at the Roslagsgjuteriet foundry in Sweden in December. With SEK 6.0 million in full-year installation revenue, providing a 76% increase relative to 2022, we didn't leave any drops in the installation lemon during 2023.

At the outset of 2024, the installation pipeline looks stronger than usual, benefitting from the GIFA world foundry trade fair in June 2023 and a return toward capital expenditures in the foundry industry following the Covid years. Installation discussions are currently underway for system upgrades and expansions, new CGI System 4000 installations, and new Ladle Tracker installations. We estimate that the current level of installation discussions provides the opportunity to exceed the pre-Covid historical average of SEK 8 million in installation revenue during 2024 and 2025.

Dr. Steve Dawson President & CEO

SinterCast is the world's leading supplier of process control technology for the reliable high volume production of Compacted Graphite Iron (CGI). The properties of CGI enable improved transport solutions, increasing efficiency and reducing carbon emissions in passenger vehicle, commercial vehicle and industrial power applications. As a specialist supplier of precision measurement and process control solutions to the metals industry, SinterCast also supplies the SinterCast Ladle Tracker® and SinterCast Cast Tracker® technologies, to improve production efficiency and Industry 4.0 traceability in a variety of applications. With 56 installations in 13 countries, SinterCast is a publicly traded company, quoted on the Small Cap segment of the Nasdaq Stockholm stock exchange (SINT). For more information: www.sintercast.com

Financial Summary

Revenue

The revenue for the SinterCast Group relates primarily to income from series production, equipment, and engineering service.

Revenue Breakdown	October−December		January−December
(Amounts in SEK million)	2023	2022	2023	2022
Recurring revenue from series production1	33.3	30.2	127.0	113.4
Equipment2	2.1	2.1	6.0	3.4
Engineering service3	0.6	0.6	1.5	1.9
Total	36.0	32.9	134.4	118.7
Number of Sampling Cups shipped	60,100	53,800	205,700	196,200

Recurring revenue from production fees, consumables and software licence fees

2 Revenue from sold and leased CGI and Tracking systems and spare parts

Revenue from engineering service, demonstrations and test pieces

The October−December 2023 revenue increased by 9% to SEK 36.0 million (SEK 32.9 million). Recurring revenue from series production increased by 10% and amounted to SEK 33.3 million (SEK 30.2 million), accounting for 92.5% of the total revenue. The total revenue benefitted from annualised series production of 3.7 million (3.5 million) Engine Equivalents, shipment of 60,100 (53,800) Sampling Cups and favourable exchange rates. Equipment revenue amounted to SEK 2.1 million (SEK 2.1 million), following the installation of a SinterCast minisystem at Roslagsgjuteriet in Sweden and a wirefeeder installation at Caterpillar. Engineering Service amounted to SEK 0.6 million (SEK 0.6 million). Exchange differences had a positive effect of SEK 0.2 million (1%) on revenue during the period.

The January−December 2023 revenue increased by 13% to SEK 134.4 million (SEK 118.7 million). Recurring revenue from series production increased by 12% and amounted to SEK 127.0 million (SEK 113.4 million), accounting for 94.5% of the total revenue. The total revenue benefitted from annualised series production of 3.7 million (3.5 million) Engine Equivalents, shipment of 205,700 (196,200) Sampling Cups and favourable exchange rates. Equipment revenue amounted to SEK 6.0 million (SEK 3.4 million) including the initial commissioning of a SinterCast System 4000 at the new Dongfeng Auto (DFAC) foundry in China. Engineering Service amounted to SEK 1.5 million (SEK 1.9 million). Exchange differences had a positive effect of SEK 5.8 million (5%) on revenue during the period.

Results

The business activities of SinterCast are best reflected by the Operating Result. This is because the "Result for the period after tax" and the "Earnings per Share" are influenced by the revaluation of tax assets.

The October−December 2023 operating result increased by SEK 7.6 million to SEK 15.6 million (SEK 8.0 million). The gross result increased by SEK 2.9 million primarily due to increased revenue and a 3% increase in gross margin to 70.8% due to decreased manning expenses. Operating costs decreased by SEK 1.1 million primarily related to the reduction in headcount following the retirement of two employees in the second quarter of 2023 and redundancies effected in the third quarter. Other operating costs and income combined improved by SEK 3.6 million due to movements in foreign currencies resulting in unrealised revaluation gains of existing hedge contracts. The result for the period after tax increased by SEK 7.6 million to SEK 15.5 million (SEK 7.8 million).

Results Summary	October−December		January−December
(Amounts in SEK million if not otherwise stated)	2023	2022	2023	2022
Gross margin, %	70.8	68.6	73.3	73.1
Operating result	15.6	8.0	42.7	30.6
Operating margin, %	43.4	24.3	31.8	25.8
Result for the period after tax	15.5	7.8	42.1	33.1
Earnings per share (SEK)	2.18	1.11	5.94	4.68

The January−December 2023 operating result increased by SEK 12.1 million to SEK 42.7 million (SEK 30.6 million), due to the combined effect of a SEK 11.8 million increase in gross margin, SEK 4.7 million increase in operating costs and improvement of other operating cost and income of SEK 5.0 million. The increase in operating costs is primarily related to exchange effects of foreign salaries into SEK, costs related to the GIFA world foundry trade fair, held every four years and impairment costs in capitalised development and severance payments related to Tracking Technologies. Other operating costs and income improved primarily due to the termination of the agreement with WHB resulting in a one-time impact of approximately SEK 4.9 million in the second quarter of 2022. The result for the period after tax increased by SEK 9.0 million to SEK 42.1 million (SEK 33.1 million), primarily due to the SEK 12.1 million increase in operating result and lower tax income of SEK 3.1 million following the revaluation of the deferred tax asset in 2022.

Cashflow, Liquidity and Investments

The January−December 2023 cashflow from operations increased by SEK 20.1 million, compared to changes in the same period last year, due to increased cashflow before working capital of SEK 13.1 million and a SEK 7.0 million improvement in working capital. The working capital improvement is primarily due to a SEK 8.7 million improvement in cashflow from inventory. Total investments amounted to SEK 5.6 million (SEK 1.7 million), primarily related to production tooling, and investment in a second source for Sampling Cup production to prepare for future growth and to ensure the security of supply. Following the dividend payment of SEK 39.0 million, total cashflow amounted to SEK -1.9 million (SEK -13.3 million). Liquidity on 31 December 2023 was SEK 12.3 million (SEK 14.2 million). SinterCast currently has no loans. As an additional liquidity buffer, an overdraft credit facility in the amount of SEK 12.5 million was established during the fourth quarter of 2022. Together, the liquidity plus the overdraft credit facility provides effective liquidity of SEK 24.8 million.

Cashflow Summary	January−December		∆
(Amounts in SEK million if not otherwise stated)	2023	2022	2023 vs 2022
Cashflow from operations, before change in working capital	48.7	35.6	13.1
Change in working capital	-3.2	-10.2	7.0
Cashflow from operations	45.5	25.4	20.1
Cashflow from investing activities	-5.6	-1.7	-3.9
Cashflow from financing activities	-41.8	-37.1	-4.7
Cashflow total	-1.9	-13.3	11.4
Liquidity	12.3	14.2

Income Tax and Deferred Tax Asset

Tax for the January−December 2023 period amounted to SEK -0.4 million (SEK 2.9 million), due to deferred tax cost in SinterCast AB (SEK 2.1 million) and paid income tax in subsidiaries (SEK 0.1 million), offset by tax income from increased deferred tax assets (SEK 1.8 million). Following the strong recent results, SinterCast AB started to utilise its historical carried forward tax losses during the quarter and accounted for preliminary income tax amounting to SEK 2.1 million. However, carried forward tax losses related to subsidiaries, with the possibility to be utilised are estimated to SEK 9.1 million, resulting in SEK 1.8 million of additional deferred tax assets. The Group's total carried forward tax losses, possible to be utilised are estimated to SEK 247.1 million (248.0 MSEK), resulting in a deferred tax asset of SEK 50.8 million (SEK 51.1 million). It is estimated that SinterCast will begin to pay Swedish income tax during approximately late-2027 or early-2028, depending on results and currency rates.

Patents

As of 31 December 2023, SinterCast held three patents that were maintained as 17 individual national phase patents worldwide. These patents address the SinterCast metallurgical technology and the Sampling Cup. Some patents have recently come to end-of-life and SinterCast has allowed other patents to lapse as it is judged that these patents no longer represented the current technology and therefore did not justify continued payment of the annual fees. SinterCast has chosen to retain the recent technical advances as internal know-how.

Risks and Uncertainty Factors

Uncertainty factors for SinterCast include: the timing of OEM decisions for new CGI engines and other components; adherence to start-of-production dates and ramp projections; the longevity of each engine programme; the possibility that the volume of existing programmes may decrease or come to end-of-life earlier than expected; the global economy for new vehicle sales; technology trends and emissions legislation; and, the individual sales success of vehicles equipped with SinterCast-CGI components.

The increasing geopolitical instability, exacerbated by war and conflict in multiple regions, together with material shortages, energy costs and global economic uncertainties, constitute the dominant near-term risk factors for the global foundry and automotive industries. While it is not yet possible to quantify the impact of these factors on the near-term market development, SinterCast remains confident in the long-term growth of CGI. Other factors that may influence the market risk for SinterCast and its end-user industries include the renegotiation of international tariffs and free-trade agreements on vehicle sales, climate change legislation and the associated growth of alternative powertrain technologies, and the overall demand for goods transportation. The development of AI may

also increase the possibilities to develop potentially competitive technologies or to reverse engineer the SinterCast technology.

No significant risk of material adjustment to the carrying amounts of assets and liabilities has been identified at the balance sheet date and no costs have been taken to the profit and loss due to Covid-19 or the Russian invasion of Ukraine.

For additional risk and uncertainty factor information, see the SinterCast Annual Report.

Organisation

With successful high volume CGI production in customer foundries located in Europe, Asia and the Americas, SinterCast has established a global organisation with employees and offices in Sweden, the United Kingdom, the United States, China, Korea, Germany and Portugal. As of 31 December 2023, the Group had 28 (32) employees, 7 (7) of whom are female. The reduction in headcount was the result of two retirements during the first half of the year plus redundancies effected during the second half of the year as a result of the decision to withdraw from the active development of Tracking Technologies. Benefitting from accumulated experience and efficiency improvements, SinterCast is well positioned to support global market activities and to drive the future growth of the company.

Parent Company

SinterCast AB (publ) is the Parent Company of the SinterCast Group, with its registered office located in Stockholm, Sweden. On 31 December 2023, the Parent Company had 23 (26) employees. The average number of employees during the period was 25 (26). The majority of the operations are managed by the Parent Company while local operations in the United Kingdom, United States, Korea and China are managed by the local companies. The information given for the Group in this report corresponds in all material respects to the Parent Company. However, the result for the period may differ between the group and the Parent Company due to intercompany transactions between the Parent Company and its subsidiaries.

Outlook Guidance:

Following the attainment of the four million Engine Equivalent milestone in June 2023, series production averaged 4.0 million Engine Equivalents from June through December, reinforcing 4.0 million Engine Equivalents as the new normal. More than 95% of the production volume in 2023 was derived from commercial vehicles, pick-up trucks and off-road equipment, where electrification is in its infancy. Less than 1% of the SinterCast production in 2023 was for passenger cars. Commercial vehicles continue to provide the largest growth opportunity as more of the new vehicle fleet converts to CGI in order to meet increasingly stringent emissions legislation. The near-term outlook provides for double-digit growth through 2030, while the SinterCast product mix provides for long-term growth, with high-volume production well beyond 2035.

Despite the positive market outlook, one of our high volume programmes will reach its end-of-life stage during mid-2024, causing a temporary decrease in volume. It is not yet clear if the five million Engine Equivalent milestone will be reached before the stoppage occurs. Regardless, the temporary decrease does not change our ability to surpass the five million Engine Equivalent milestone and we maintain our ambition to reach the seven million Engine Equivalent milestone, with growth beyond. Following the strong recent results, it is estimated that SinterCast will

begin to pay Swedish income tax during approximately late-2027 or early-2028, depending on results and currency rates.

Previously Published (8 November 2023)

Over the past five months, from May through September, the average annualised series production was 4.1 million Engine Equivalents, clearly establishing four million as the new normal. More recently, annualised series production in August and September was 4.3 and 4.5 million Engine Equivalents respectively. The strong production in August and September provide the opportunity to post full-year double-digit growth. The recent production has benefited from the continued ramp of the new 13 litre cylinder block and head for the Traton Group, encompassing Scania, MAN, Navistar and Volkswagen Truck & Bus. The mature volume of the Traton programme is expected to provide approximately one million Engine Equivalents per year, with the current production accounting for less than half of the mature potential. Despite the positive market development, one of our high volume programmes will reach its end-of-life stage during the second half of 2024, causing a temporary decrease in volume. It is not yet clear if the five million Engine Equivalent milestone will be reached before the stoppage occurs. Regardless, the temporary decrease does not change our ability to surpass the five million Engine Equivalent milestone and we maintain our ambition to reach the seven million Engine Equivalent milestone. The current outlook calls for continued growth through 2030, with high volume production well beyond 2035. Following the strong recent results, it is now estimated that SinterCast will begin to pay Swedish income tax during approximately late-2027 or early-2028, depending on results and currency rates.

The Share and Analysts

The SinterCast share has been listed and quoted on the Small Cap segment of the Nasdaq Stockholm stock exchange, since 26 April 1993. SinterCast share capital is SEK 7,090,133 at par value of SEK 1 per share. ABG Sundal Collier is the appointed liquidity provider for the SinterCast share.

The following analysts are covering SinterCast:

Henric Hintze at ABG Sundal Collier, [email protected], +46 8 566 294 89 Per Bernhult at Stockpicker, [email protected], +46 8 662 06 69

Accounting Principles

The information provided on behalf of the group in this interim report has been prepared in accordance with Sweden's Annual Accounts Act and IAS 34 Interim Financial Reporting. The reporting for the Parent Company has been prepared in accordance with Sweden's Annual Accounts Act, chapter 9 interim report, and RFR 2. The accounting policies that have been applied for the group and the Parent Company agree with the accounting policies used in the preparation of the company's latest Annual Report. With effect from the 4Q 2022 Interim Report, the income statement has been reclassified. Revaluation changes of customer receivables (USD to SEK) are presented in other operating costs and income. To mitigate these currency effects, forward contracts have been established. In order to include the net currency effects in the operating result, the unrealised revaluation changes in forward contracts are now disclosed in other operating costs and income instead of in the financial net. Comparison figures have been recalculated accordingly. This change also influences the cashflow statements.

Fair Value Measurement of Financial Assets and Liabilities

The group has Financial assets consisting of derivative instruments (included in other debtors or other creditors) and commercial papers and fixed income instruments. The fair value of derivative instruments, not traded on an

active market, is based on observable market currency rates. Cash flows are discounted using market interest rates. Commercial papers and fixed income instruments are traded on an active market and the fair value is determined by available market prices. These effects are recognised in the profit & loss statement.

Rounding

The total amount shown in tables and statements may not always sum to the same value due to rounding differences. The primary objective is for each line item to correspond to the source. This may sometimes result in rounding or truncation differences in the total.

Alternative Performance Measures are defined and included in this report in the Key Ratio and Share Data tables. More information of Accounting Policies is included in the Annual Report 2022, pages 52-60.

Material Transactions and Events after the Balance Sheet Date

No material transactions have taken place between SinterCast and the Board or the Management during the period. The following press releases were issued during the period:

10 October 2023 – SinterCast sets all-time production high in September and for the third quarter

08 November 2023 – SinterCast Results July-September 2023

21 November 2023 – SinterCast initiates share buyback programme

7 December 2023 – Roslagsgjuteriet adopts SinterCast technology for industrial power production

A total of 11,263 shares, with a value of SEK 1.2 million, have been acquired since the balance sheet date of 31 December 2023. There have been no other significant events since the balance sheet date that could materially change these financial statements. The following press releases were issued after the balance sheet date:

24 January 2024 – SinterCast posts 13% full-year revenue growth

Dividend Policy and Dividend

The Board's intention is to continue to provide an ordinary dividend to the shareholders, based primarily on the cashflow from operations, after investments. In the event that the Board considers that the liquidity exceeds the amount needed to support the operational requirements and strategic objectives, the Board has the option to propose an extraordinary dividend or a share buyback to further adjust the liquidity. The first dividend was distributed in May 2011 for the financial year 2010 and an increasing ordinary dividend has been distributed every year since then. Since 2019, the dividend has been distributed in two equal instalments. Since the first dividend was provided, SinterCast has distributed SEK 282.4 million to its shareholders, representing 111% of its operating result over the period. The cumulative dividend provided since 2010 amounts to SEK 39.9 per share.

Dividend Distributed in 2023

The Annual General Meeting (AGM) of the shareholders decided on an ordinary dividend of SEK 5.00 per share (SEK 4.50 per share) with an extraordinary dividend of SEK 0.50 (SEK 0.50 per share), representing a distribution of SEK 39.0 million (SEK 35.5 million) to the shareholders of SinterCast AB (publ) for the financial year 2022. The dividend was distributed in two equal payments of SEK 2.75 per share, with the record date 19 May 2023 for the first payment and the record date 10 November 2023 for the second payment.

Share Buyback

On 21 November 2023, in accordance with the resolution at the 2023 AGM, SinterCast initiated a share buyback programme with an initial amount of up to SEK five (5) million. As of 31 December 2023, 11,338 shares had been acquired, amounting to SEK 1.2 million. The buyback campaign continued in early-2024, until the onset of the current blackout period on 24 January 2024. The total number of shares acquired as of 28 February 2024 is 22,601 shares, in the total amount of SEK 2.4 million. The purpose of the share buyback programme is to optimise the company's capital structure and thereby to create value for the shareholders. SinterCast intends to propose a reduction of the share capital and cancellation of the acquired shares by resolution at the 2024 AGM. SinterCast also intends to seek approval to continue the share buyback programme after the 2024 AGM.

Proposed Dividend 2024

The Board of Directors propose an ordinary dividend of SEK 5.50 per share (SEK 5.00 per share) with an extraordinary dividend of SEK 0.60 (SEK 0.50 per share), representing a distribution of SEK 43.1 million (SEK 39.0 million) to the shareholders of SinterCast AB (publ) for the financial year 2023, distributed in two equal payments of SEK 3.05 per share. The Board proposed 23 May 2024 as the record date for the first dividend payment and 7 November 2024 as the record date for the second dividend payment. In deciding the amount of the ordinary dividend to be proposed to the AGM 2023, the Board considered cashflow from operations, the financial position, investment requirements and other factors, such as market outlook, growth strategy and the internal financial forecast for the Group.

Annual General Meeting

The Annual General Meeting 2024 of SinterCast AB (publ) will be held on Tuesday 21 May 2024, at 15:00 at the IVA Conference Centre, Grev Turegatan 16, Stockholm.

Shareholders wishing to have a matter considered at the Annual General Meeting should provide written submissions to the Board of Directors at [email protected] or: SinterCast AB (publ), Kungsgatan 2, 641 30 Katrineholm, Sweden, at least seven weeks prior to the Annual General Meeting for the proposal to be included in the notice of the meeting. Further details on how and when to register will be published in advance of the Annual General Meeting.

Nomination Committee

The Nomination Committee has been appointed based on the ownership structure as of 31 August 2023. Ulf Stenbeck is the Chairman of the committee. The other members of the committee are Torbjörn Gustafsson, Einar Ahlström and David Walton, fund manager at Canaccord Genuity Wealth Management. The committee also includes Robert Dover, Chairman of the Board of SinterCast, as an adjunct member, with no voting rights. Shareholders who wish to submit proposals to the Nomination Committee may send an e-mail to: [email protected] on or before 2 April 2024.

Information

Interim Reports Publication Date January–March 2024 08:00 CET on 24 April 2024 April–June 2024 08:00 CET on 21 August 2024 July–September 2024 08:00 CET on 6 November 2024 October–December 2024 and Full Year Results 2024 08:00 CET on 12 February 2025

Annual Report 2023 Publication Date The Annual Report of SinterCast AB (publ) 22 March 2024

Annual General Meeting 2024 Date

The Annual General Meeting of SinterCast AB (publ) Tuesday 21 May 2024

This report has not been reviewed by the company's Auditors.

Stockholm 28 February 2024

For further information please contact:

Dr. Steve Dawson

President & CEO

SinterCast AB (publ) Office: +46 150 794 40 Mobile: +44 771 002 6342 e-mail: [email protected] website: www.sintercast.com Corp. Id. 556233-6494

This press release contains information SinterCast AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the President & CEO Dr. Steve Dawson, at 08:00 CET on 28 February 2024.

Income Statement – Group

	October−December		January−December
Amounts in SEK million	2023	2022	2023	2022
Revenue	36.0	32.9	134.4	118.7
Cost of goods sold	-10.5	-10.3	-35.9	-31.9
Gross result	25.5	22.5	98.5	86.7
Cost of sales and marketing	-8.9	-9.1	-34.7	-31.4
Cost of administration	-2.6	-3.3	-9.9	-10.2
Cost of research & development	-2.4	-2.6	-12.5	-10.7
Other operating costs & income	4.1	0.5	1.2	-3.8
Operating result	15.6	8.0	42.7	30.6
Financial income	0.2	0.1	0.2	0.1
Financial costs	-0.1	-0.1	-0.4	-0.4
Financial net	0.2	-0.1	-0.1	-0.3
Result before income tax	15.8	8.0	42.6	30.3
Income tax	-0.3	-0.1	-0.4	2.9
Result for the period	15.5	7.8	42.1	33.1
Result attributable to:
Equity holder of the parent company	15.5	7.8	42.1	33.1
Non-controlling interests	-	-	-	-
Earnings per share, SEK	2.18	1.11	5.94	4.68
Earnings per share, diluted, SEK	2.18	1.11	5.94	4.68
Number of shares at the close of the period, thousands	7,078.8	7,090.1	7,078.8	7,090.1
Average number of shares, thousands	7,085.3	7,090.1	7,088.9	7,090.1
Average number of shares, diluted	7,085.3	7,090.1	7,088.9	7,090.1

Statement of Result and Other Comprehensive Income – Group

	October−December		January−December
Amounts in SEK million	2023	2022	2023	2022
Result for the period	15.5	7.8	42.1	33.1
Other comprehensive income
Items may be reclassified to the income statement
Translation differences, foreign subsidiaries	-0.6	0.1	-0.6	0.2
Other comprehensive income, net of tax	-0.6	0.1	-0.6	0.2
Total comprehensive income for the period	14.9	7.9	41.5	33.3
Total comprehensive income attributable to:
Shareholder of the parent company	14.9	7.9	41.5	33.3
Non-controlling interests	-	-	-	-

Balance Sheet – Group

	31 Dec	31 Dec	30 Sep	30 Sep
Amounts in SEK million	2023	2022	2023	2022
ASSETS
Intangible assets	1.7	4.7	1.9	5.6
Tangible assets*	8.7	5.8	8.7	6.1
Other long term receivables	0.4	0.7	0.4	0.6
Deferred tax asset	50.9	51.1	51.1	51.1
Total fixed assets	61.6	62.2	62.1	63.4
Inventory	14.1	16.7	15.6	15.3
Short-term receivables	43.6	37.4	35.4	41.5
Short term deposits and cash at bank and in hand	12.3	14.2	23.2	20.0
Total current assets	70.0	68.3	74.3	76.7
Total assets	131.6	130.5	136.3	140.1
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity	113.6	111.9	99.7	121.6
Long term liabilities*	0.5	1.5	0.8	1.8
Current liabilities*	17.5	17.1	35.9	16.8
Total liabilities	17.9	18.5	36.7	18.6
Total shareholders' equity and liabilities	131.6	130.5	136.3	140.1

* Includes right of use assets (SEK 1.9 million) , long term lease liability (SEK 0.5 million) and short term lease liabilities

(SEK 1.5 million)

Statement of Changes in Equity – Group

	Share	Paid in	Exchange	Cumulative
Amounts in SEK million	Capital	Capital	Differences	Results	Total Equity
Opening balance 1 January 2022	7.1	44.9	1.5	60.4	113.8
Other	-	-	-	0.3	0.3
Total comprehensive income
Result for the period	-	-	-	33.1	33.1
Other comprehensive income	-	-	0.2	-	0.2
Total comprehensive income	-	-	0.2	33.1	33.3
Dividend	-	-	-	-35.5	-35.5
Closing balance 31 December 2022	7.1	44.9	1.6	58.4	111.9
Opening balance 1 January 2023	7.1	44.9	1.6	58.4	111.9
Other	-	-	-	0.4	0.4
Total comprehensive income
Result for the period	-	-	-	42.1	42.1
Other comprehensive income	-	-	-0.6		-0.6
Total comprehensive income	-	-	-0.6	42.1	41.5
Repurchase own shares				-1.2	-1.2
Dividend	-	-	-	-39.0	-39.0
Closing balance 31 December 2023	7.1	44.9	1.0	60.6	113.6

Cashflow Statement – Group

		October−December		January−December
Amounts in SEK million	2023	2022	2023	2022
Operating activities
Operating result	15.6	8.0	42.7	30.6
Adjustments for items not included in the cash flow
Depreciation	0.9	1.1	6.4	4.3
Other	0.2	0.2	0.2	0.2
Unrealised exchange rate differences	-0.3	-0.4	0.0	0.9
Received interest	0.2	0.1	0.2	0.1
Paid interest	-0.1	-0.1	-0.4	-0.4
Paid income tax	-0.3	0.0	-0.4	-0.1
Total cashflow from operating activities	16.3	8.8	48.7	35.6
before change in working capital
Change in working capital
Inventory	1.5	-1.4	2.5	-6.2
Operating receivables	-8.1	4.0	-6.1	-5.7
Operating liabilities	1.1	0.3	0.4	1.8
Total change in working capital	-5.5	3.0	-3.2	-10.2
Cashflow from operations	10.7	11.8	45.5	25.4
Investing activities
Acquisition of intangible assets	0.0	0.4	-0.5	-0.6
Acquisition of tangible assets	-0.5	-0.1	-5.1	-1.1
Cashflow from investing activities	-0.5	0.3	-5.6	-1.7
Financing activities
Payment lease liability	-0.4	-0.2	-1.6	-1.6
Dividend	-19.5	-17.7	-39.0	-35.5
Repurchase own shares	-1.2	0.0	-1.2	0.0
Cashflow from financing activities	-21.1	-17.9	-41.8	-37.1
Exchange rate differences in cash and cash equivalents	0.0	0.0	0.0	0.0
Cashflow for the period	-10.9	-5.8	-1.9	-13.3
Cash - opening balance	23.2	20.0	14.2	27.5
Cash - closing balance*	12.3	14.2	12.3	14.2

* The cash and cash equivalents comprise short-term deposits and cash at bank and in hand

Key Ratio and Share Data – Group

October−December			January−December
Amounts in SEK million	2023	2022	2023	2022
Key Ratio
Revenue*	36.0	32.9	134.4	118.7
Gross margin, %	70.8	68.6	73.3	73.1
Operating result	15.6	8.0	42.7	30.6
Operating margin, %	43.4	24.3	31.8	25.8
Result for the period*	15.5	7.8	42.1	33.1
Solidity, %	86.4	85.8	86.4	85.8
Shareholders' equity	113.6	111.9	113.6	111.9
Capital employed	113.6	111.9	113.6	111.9
Total assets	131.6	130.5	131.6	130.5
Return on shareholders' equity, %	13.2	7.1	37.3	29.4
Return on capital employed, %	13.2	7.1	37.3	29.4
Return on total assets, %	11.4	6.0	32.1	25.3
Employees
Number of employees at the end of the period	28	32	28	32
Data per Share
Earnings per share, SEK*	2.18	1.11	5.94	4.68
Dividend per share, SEK	2.75	2.50	5.50	5.00
Share price at the end of the period, SEK	102.0	114.0	102.0	114.0

* According to IFRS. All other key ratios and share data are defined as Alternative Performance Measures (APMs).

Weighted average of the number of shares outstanding for the
period
Average number of shares adjusted for dilution
Weighted average of the number of shares for the period adjusted
for dilution
Earnings per share
Result for the period divided by the average number of shares
Earnings per share, diluted
Result for the period divided by the average number of shares
adjusted for dilution
Dividend per share
Dividend divided by the number of shares
Cashflow from operations per share
Cashflow from operations divided by the number of shares
Share price at the end of the period
Latest paid price for the SinterCast share at NASDAQ Stockholm
Value presented as "0.0"
Amount below SEK 50,000
Value presented as "-"
No amount applicable

Income Statement – Parent Company

	October−December		January−December
Amounts in SEK million	2023	2022	2023	2022
Revenue	36.0	32.8	133.3	118.3
Cost of goods sold	-11.4	-12.7	-38.4	-34.2
Gross result	24.6	20.1	94.9	84.1
Cost of sales and marketing	-8.8	-9.2	-34.6	-31.4
Cost of administration	-2.5	-3.3	-9.7	-10.2
Cost of research & development	-2.5	-2.6	-12.5	-10.7
Other operating costs & income	5.0	2.4	1.3	-5.3
Operating result	15.8	7.4	39.4	26.4
Financial income	0.2	0.1	0.2	0.1
Financial costs	-0.3	-0.2	-0.7	-0.2
Financial net	0.0	-0.1	-0.5	-0.1
Result before income tax	15.7	7.3	38.9	26.3
Income tax	-2.1	-0.1	-2.1	2.9
Result for the period	13.7	7.2	36.8	29.2
Earnings per share, SEK	1.93	1.02	5.20	4.12
Earnings per share, diluted, SEK	1.93	1.02	5.20	4.12
Number of shares at the close of the period, thousands	7,078.8	7,090.1	7,078.8	7,090.1
Average number of shares, thousands	7,085.3	7,090.1	7,088.9	7,090.1
Average number of shares, diluted	7,085.3	7,090.1	7,088.9	7,090.1

Statement of Result and Other Comprehensive Income – Parent Company

	October−December		January−December
Amounts in SEK million	2023	2022	2023	2022
Result for the period	13.7	7.2	36.8	29.2
Total comprehensive income for the period	13.7	7.2	36.8	29.2

Balance Sheet – Parent Company

	31 Dec	31 Dec	30 Sep	30 Sep
Amounts in SEK million	2023	2022	2023	2022
ASSETS
Intangible assets	1.7	4.7	1.9	5.6
Tangible assets	6.8	3.0	6.6	3.1
Other long term receivables	2.2	2.3	2.3	2.3
Deferred tax asset	49.0	51.1	51.1	51.1
Total fixed assets	59.7	61.1	61.9	62.1
Inventory	13.9	16.3	15.4	15.0
Short-term receivables	43.2	38.2	34.9	42.6
Short term deposits and cash at bank and in hand	10.6	11.8	20.4	16.6
Total current assets	67.7	66.4	70.6	74.2
Total assets	127.4	127.5	132.4	136.3
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity	93.3	96.6	80.8	107.1
Current liabilities	34.1	30.9	51.6	29.2
Total liabilities	34.1	30.9	51.6	29.2
Total shareholders' equity and liabilities	127.4	127.5	132.4	136.3

Statement of Changes in Equity – Parent Company

		Restricted Equity Unrestricted Equity
			Reserve	Share	Results	Results
	Share	Statutory	Developm.	Premium	brought	for the	Total
Amounts in SEK million	Capital	Reserve	Costs	Reserve	Forward	Year	Equity
Opening balance 1 January 2022	7.1	9.5	5.0	35.3	15.3	30.6	102.9
Appropriation of last year's result	-	-	-	-	30.6	-30.6	-
Capitalised development costs	-	-	1.3	-	-1.3	-	-
Depreciation, development costs	-	-	-2.4	-	2.4	-	-
Total comprehensive income	-	-	-	-	-	29.2	29.2
Dividend	-	-	-	-	-35.5	-	-35.5
Closing balance 31 December 2022	7.1	9.5	3.9	35.3	11.5	29.2	96.6
Opening balance 1 January 2023	7.1	9.5	3.9	35.3	11.5	29.2	96.6
Appropriation of last year's result	-	-	-	-	29.2	-29.2	-
Capitalised development costs	-	-	0.5	-	-0.5	-	-
Depreciation, development costs	-	-	-3.3	-	3.3	-	-
Total comprehensive income	-	-	-	-	-	36.8	36.8
Repurchase own shares	-	-	-	-	-1.2	-	-1.2
Dividend	-	-	-	-	-39.0	-	-39.0
Closing balance 31 December 2023	7.1	9.5	1.1	35.3	3.3	36.8	93.3

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SinterCast

3200_10-k_2024-02-28_ed520e09-b628-463b-a2f2-73d8f7b6ad78.pdf