Trelleborg

Earnings Release • Jan 27, 2023

INTERIM REPORT AND YEAR-END REPORT 2022

RECORD YEAR CLOSED WITH A STRONG QUARTER

Fourth quarter 2022 – continuing operations

• Net sales for the quarter increased 35 percent to SEK 8,113 M (6,016). Sales were the highest to date for a quarter. Organic sales increased 15 percent compared with the preceding year, while acquisitions increased sales by 8 percent and currency by 12 percent.
• EBIT, excluding items affecting comparability, increased 34 percent to SEK 1,239 M (928). The EBIT margin was 15.3 percent (15.4). Earnings were the highest to date for a fourth quarter.
• Operating cash flow was SEK 1,678 M (936), up 79 percent. The cash conversion ratio for the most recent 12-month period amounted to 74 percent (85).
• Items affecting comparability for the quarter totaled SEK -115 M (-128) and pertained to restructuring costs.
• EBIT, including items affecting comparability, amounted to SEK 1,124 M (800) for the quarter.
• Earnings per share, excluding items affecting comparability, amounted to SEK 3.40 (2.28), up 49 percent. For the Group as a whole, including discontinuing operations, earnings per share were SEK 4.66 (2.78), up 68 percent.
• The acquisition of Minnesota Rubber & Plastics, with annual sales of around SEK 2,250 M, was consolidated as of October 27, 2022. With this acquisition, the business area Trelleborg Sealing Solutions' position becomes as strong in North America as its previously established position in Europe. Refer to pages 4 and 10.
• An agreement was signed in March 2022 to divest the business area Trelleborg Wheel Systems to Yokohama Rubber Company. It is reported as discontinuing operations in the financial statements. The divestment is expected to be finalized in the first half of 2023, most likely in the first few months of the year.
• The key figures in this report relate to continuing operations, unless otherwise stated.

SEK M	Q4 2022	Q4 2021	Change, %	12M 2022	12M 2021	Change, %
Continuing operations
Net sales	8,113	6,016	35	30,095	23,789	27
Organic sales, %	15	9		14	15
EBIT, excluding items affecting comparability	1,239	928	34	5,066	3,903	30
EBIT-margin, %	15.3	15.4		16.8	16.4
Items affecting comparability	-115	-128		-241	-83
EBIT	1,124	800	41	4,825	3,820	26
Profit before tax, continuing operations	1,048	766	37	4,595	3,680	25
Net profit, discontinuing operations	431	240	80	1,828	1,007	82
Net profit, Group	1,196	752	59	5,257	3,716	41
Earnings per share, SEK
Continuing operations	2.98	1.89	58	13.01	10.00	30
Discontinuing operations	1.68	0.89	89	6.93	3.72	86
Group	4.66	2.78	68	19.94	13.72	45
Continuing operations, excluding items affecting
comparability	3.40	2.28	49	13.80	10.26	35
Operating cash flow	1,678	936	79	3,732	3,298	13
Cash conversion ratio R12, %	74	85		74	85

Full-year 2022 – continuing operations

• Net sales for full-year 2022 increased 27 percent to SEK 30,095 M (23,789). Organic sales increased 14 percent, while structural changes increased sales by 3 percent and currency movements by 10 percent compared with the preceding year.
• EBIT, excluding items affecting comparability, increased 30 percent to SEK 5,066 M (3,903), corresponding to an EBIT margin of 16.8 percent (16.4). Earnings and the margin were the highest to date for a full year.
• Items affecting comparability totaled SEK -241 M (-83) and pertained to restructuring costs of SEK -381 M (-260) and capital gains from the sale of assets totaling SEK 140 M (177).
• Earnings per share, excluding items affecting comparability, amounted to SEK 13.80 (10.26), up 35 percent. For the Group as a whole, earnings per share were SEK 19.94 (13.72), up 45 percent.
• Operating cash flow amounted to SEK 3,732 M (3,298), up 13 percent. The cash conversion ratio was 74 percent (85).
• At the end of the year, Trelleborg had repurchased Series B shares corresponding to 5.1 percent of the number of shares outstanding at a value of SEK 3,079 M.

MARKET OUTLOOK FOR THE FIRST QUARTER OF 2023

Demand is expected to be lower than in the fourth quarter of 2022, adjusted for seasonal variations. The geopolitical situation entails a heightened degree of uncertainty. For further information, refer to page 14.

Market outlook from the interim report published on October 26, 2022, relating to the fourth quarter of 2022 Demand is expected to be slightly lower than in the third quarter of 2022, adjusted for seasonal variations. The geopolitical situation entails a heightened degree of uncertainty. For further information, refer to page 14.

DIVIDEND 2022

The Board of Directors proposes a cash dividend of SEK 6.00 per share (5.50).

RECORD YEAR CLOSED WITH A STRONG QUARTER

"We end the record year of 2022 by reporting yet another strong quarter. It is with confidence and great enthusiasm that we continue to improve Trelleborg. The aim to increase sales and further raise profitability stands firm. We will continue to invest in our polymer solutions for fast-growing segments in the aerospace industry, healthcare & medical and other selected industrial niches through a combination of acquisitions and focused organic initiatives.

Sales in the fourth quarter increased by a full 35 percent, with organic sales increasing 15 percent. Acquisitions contributed 8 percent. EBIT, excluding items affecting comparability, increased 34 percent, corresponding to an operating margin of 15.3 percent. Both sales and earnings were by far the best to date for a fourth quarter.

Organic sales for Trelleborg Industrial Solutions grew in most market segments and geographies, with healthy profitability. However, we noted a fall-off in order intake in primarily construction-related segments in the latter part of the year compared with previous quarters. Meanwhile, we have a strong order book that provides security for the year ahead.

Organic sales for Trelleborg Sealing Solutions were also favorable in most market segments and geographies. Here we also noted a slowdown in order intake in some segments, such as general industry, compared with the first few quarters of the year. In parallel, order intake and deliveries to aerospace, automotive and healthcare & medical continued to grow substantially.

Trelleborg Wheel Systems recorded good organic sales growth in all tire categories and most geographies during the quarter, which was primarily underpinned by solid deliveries to OE manufacturers. In contrast, we noted falling sales to the aftermarket. Profitability increased as a result of effective cost control and price adjustments to counter rising costs.

Minnesota Rubber & Plastics has been part of the Group since the end of October. The acquisition significantly improves Trelleborg Sealing Solutions' position in the North American market while strengthening us globally in a number of attractive niches. The acquisition will initially slightly dilute the EBIT margin, but as we realize the synergies we have identified, the business area will – in the not-too-distant future – once again reach the high margin levels we have enjoyed for more than a decade.

In the near term, we will receive more than SEK 20 billion from previously announced divestments, which opens up several options to develop the Group further. Our strong balance sheet has enabled us to once again recommend that the Annual General Meeting raise the ordinary dividend. In parallel we have repurchased own shares on the stock exchange for more than SEK 3 billion.

At the time of writing, there are several macroeconomic signs that we are approaching a cooler period compared with the strong growth seen in 2021/2022. Our committed employees are ready to meet the challenges in whatever form these may take, and I am convinced that Trelleborg is heading for yet another successful year. Our general assessment in the current situation is that demand in the first quarter will be lower than in the fourth quarter."

Peter Nilsson, President and CEO

NET SALES AND RESULT¹

SEK M	Q4 2022	Q4 2021	Change, %	12M 2022	12M 2021	Change, %
Continuing operations
Net sales	8,113	6,016	35	30,095	23,789	27
Change total, %	35	11		27	11
Organic sales, %	15	9		14	15
Structural change, %	8	1		3	1
Currency effects, %	12	1		10	-5
EBIT, excluding items affecting comparability	1,239	928	34	5,066	3,903	30
EBIT-margin, %	15.3	15.4		16.8	16.4
Items affecting comparability	-115	-128		-241	-83
EBIT	1,124	800	41	4,825	3,820	26
Financial income and expenses	-76	-34	-124	-230	-140	-64
Profit before tax	1,048	766	37	4,595	3,680	25
Taxes	-283	-254	-11	-1,166	-971	-20
Net profit, continuing operations	765	512	49	3,429	2,709	27
Net profit, discontinuing operations	431	240	80	1,828	1,007	82
Net profit, Group	1,196	752	59	5,257	3,716	41
Earnings per share, SEK
Continuing operations	2.98	1.89	58	13.01	10.00	30
Discontinuing operations	1.68	0.89	89	6.93	3.72	86
Group Continuing operations, excluding items affecting	4.66	2.78	68	19.94	13.72	45
comparability	3.40	2.28	49	13.80	10.26	35

Net sales for the fourth quarter of 2022 amounted to SEK 8,113 M (6,016), up 35 percent. Organic sales increased 15 percent compared with the year-earlier period. The net effect of currency movements increased sales by 12 percent, while acquisitions contributed 8 percent compared with the yearearlier period.

Sales per market. In Europe, organic sales increased by 13 percent compared with the preceding year. Organic sales in North and South America rose 18 percent. In Asia and other markets, organic sales increased by 14 percent compared with the preceding year.

EBIT, excluding items affecting comparability, totaled SEK 1,239 M (928), up 34 percent. The margin was 15.3 percent (15.4).

The total exchange rate effect on EBIT, excluding items affecting comparability, from the translation of foreign subsidiaries, had a positive impact of SEK 75 M on earnings compared with the year-earlier period.

Items affecting comparability for the quarter totaled SEK -115 M (-128) and pertained to restructuring costs.

EBIT, including items affecting comparability, amounted to SEK 1,124 M (800) for the quarter.

Minnesota Rubber & Plastics, with annual sales of around SEK 2,250 M, was consolidated as of October 27, 2022, and was therefore included in the accounts for two months of the fourth quarter. Depreciation after completion of the purchase price allocation (PPA) totaled SEK 37 M for the quarter. The corresponding total depreciation for full-year 2023 is estimated at approximately SEK 220 M. Refer to page 21.

The net financial expense for continuing operations was SEK -76 M (-34). Net financial items were impacted primarily by higher interest expenses linked to the acquisition of Minnesota Rubber & Plastics. The acquisition was financed primarily by a short-term loan that will be repaid when the proceeds are received from the ongoing sale of the Group's tire operation.

Net profit was SEK 765 M (512). The tax rate for the quarter amounted to 27 percent (33). The underlying tax rate for continuing operations is expected to remain at 26 percent.

Earnings per share, excluding items affecting comparability, amounted to SEK 3.40 (2.28), up 49 percent. For the Group as a whole, including discontinuing operations, earnings per share were SEK 4.66 (2.78), up 68 percent.

¹ The key figures in this report relate to continuing operations, unless otherwise stated. Continuing operations pertains to the business areas Trelleborg Industrial Solutions, Trelleborg Sealing Solutions and Group Activities.

CASH FLOW AND NET DEBT

SEK M	Q4 2022	Q4 2021	Change, %	12M 2022	12M 2021	Change, %
EBIT, excluding items affecting comparability	1,239	928	34	5,066	3,903	30
Depreciation/write-down, property, plant and equipment	302	246	23	1,093	973	12
Amortization/write-down, intangible assets	113	63	79	316	231	37
EBITDA	1,654	1,237	34	6,475	5,107	27
Capital expenditure	-533	-410	-30	-1,298	-1,045	-24
Sold non-current assets	20	5	300	51	114	-55
Amortization of lease liabilities	-87	-76	-14	-322	-303	-6
Change in working capital	624	183		-1,157	-551
Dividend from associated companies	0	0		0	1
Non cash-flow affecting items	0	-3		-17	-25
Operating cash flow, continuing operations	1,678	936	79	3,732	3,298	13
Cash conversion ratio R12, %	74	85		74	85
Operating cash flow, discontinuing operations	755	82	821	1,472	1,271	16
Operating cash flow, Group	2,433	1,018	139	5,204	4,569	14

SEK M	12M 2022	12M 2021
Net debt Group, opening balance	-8,367	-10,026
Operating cash flow	5,204	4,569
Cash impact from items affecting comparability	-306	-98
Financial items	-150	-199
Paid tax	-1,443	-962
Free cash flow	3,305	3,310
Acquisitions	-11,199	-573
Disposed operations	149	616
Capital increase associated companies	-17	-29
Dividend - equity holders of the parent company	-1,481	-1,355
Repurchase own shares	-3,079	-
Sum net cash flow	-12,322	1,969
Exchange rate differences	-518	-446
Lease liability according to IFRS 16 1	146	70
Pension liability 1	164	66
Net debt Group, closing balance	-20,897	-8,367
Of which:
Pension liability	-438	-548
Lease liability according to IFRS 16	-2,215	-2,102
Net debt, excluding effect of lease and pension liability	-18,244	-5,717
Debt/equity ratio, %	56	25
Net debt/EBITDA 2	2.4	1.2
1 Pertains to non-cash items.

2 EBITDA including items affecting comparability.

Operating cash flow for the quarter amounted to SEK 1,678 M (936). Cash flow was positively affected by the higher earnings generation as well as efficient working capital management. The rate of investment was higher than in the preceding year and amounted to SEK 533 M (410). The cash conversion ratio for the most recent 12-month period amounted to 74 percent (85).

Free cash flow for the full year was SEK 3,305 M (3,310). Net cash flow amounted to SEK -12,322 M (1,969). Net cash flow for the period was impacted by effects from acquisitions of SEK -11,199 M (-573), linked primarily to Minnesota Rubber & Plastics, effects from divested operations of SEK 149 M (616), dividends to shareholders of the Parent Company of SEK -1,481 M (-1,355), and the repurchase of own shares of SEK -3,079 M (–).

Net debt at year-end totaled SEK -20,897 M (-8,367) and was impacted by the net cash flow of SEK -12,322 M, negative exchange rate differences of SEK -518 M, and non-cash adjustments of lease and pension liabilities totaling SEK 310 M.

The debt/equity ratio was 56 percent (25). Net debt in relation to EBITDA was 2.4 (1.2).

Proceeds from ongoing divestments of the Group's tire and printing blanket operations will exceed current net debt.

RETURN ON CAPITAL EMPLOYED AND RETURN ON EQUITY

%	R12 2022	R12 2021
Return on capital employed, continuing operations
Excluding items affecting comparability	15.9	15.1
Including items affecting comparability	15.3	14.9
Return on equity, Group
Excluding items affecting comparability	15.6	12.5
Including items affecting comparability	14.9	12.0

Capital employed within continuing operations increased year on year and amounted to SEK 41,309 M (26,557) at the end of the quarter, impacted by higher working capital attributable to increased sales, acquisitions and exchange rate effects.

The capital employed for assets held for sale amounted to SEK 17,935 M (15,689) and pertained to the Group's tire and printing blanket operations. A large share of the increase was driven by exchange rate effects and higher working capital. The incoming proceeds will be similarly impacted, which is why capital gains reported earlier remain.

Return on capital employed for the most recent 12-month period, excluding items affecting comparability, was 15.9 percent (15.1). Return on capital employed, including items affecting comparability (restructuring costs and nonrecurring items), for the corresponding period was 15.3 percent (14.9).

Shareholders' equity for the Group at the close of the period amounted to SEK 37,488 M (32,998), positively impacted by earnings for the period, translation effects, a dividend to shareholders of the Parent Company and the repurchase of own shares. At the end of the year, 13,691,970 Series B shares in Trelleborg had been repurchased, corresponding to 5.1 percent of the number of shares outstanding at a value of SEK 3,079 M.

Equity per share amounted to SEK 146 (122). The equity/assets ratio was 49 percent (59). The return on shareholders' equity for the Group for the most recent 12-month period, excluding items affecting comparability, totaled 15.6 percent (12.5). The return on shareholders' equity for the Group, including items affecting comparability, amounted to 14.9 percent (12.0) for the corresponding period.

KEY FIGURES AND TRENDS

EBIT excl. items aff. comparability, SEK M / EBIT %, R12

FULL-YEAR 2022

Net sales in full-year 2022 amounted to SEK 30,095 M (23,789), a total increase of 27 percent year on year. Organic sales grew 14 percent compared with the year-earlier period. The net effect of currency movements increased sales by 10 percent, while structural changes contributed 3 percent year on year.

EBIT, excluding items affecting comparability, totaled SEK 5,066 M (3,903), corresponding to a margin of 16.8 percent (16.4). Items affecting comparability totaled SEK -241 M (-83) and pertained to restructuring costs of SEK -381 M (-260) and capital gains from the sale of assets totaling SEK 140 M (177). EBIT, including items affecting comparability, amounted to SEK 4,825 M (3,820).

Financial income and expenses amounted to a net of SEK -230 M (-140). Net financial items were impacted primarily by higher interest expenses linked to the acquisition of Minnesota Rubber & Plastics. The acquisition was financed primarily by a short-term loan that will be repaid when the proceeds are received from the ongoing divestment of the Group's tire operation.

In addition, net financial items in continuing operations were impacted by lower internal interest income from Group companies in discontinuing operations, which resulted in a corresponding positive trend for discontinuing operations. For the Group in its entirety, this effect was eliminated.

Profit before tax totaled SEK 4,595 M (3,680). The tax rate was 25 percent (26). Net profit totaled SEK 3,429 M (2,709).

Net profit for discontinuing operations totaled SEK 1,828 M (1,007). Net profit for the Group totaled SEK 5,257 M (3,716).

Earnings per share, excluding items affecting comparability, totaled SEK 13.80 (10.26). For the Group as a whole, earnings per share were SEK 19.94 (13.72).

SUSTAINABILITY

Lower climate impact. The Group's CO2 intensity (CO2/SEK M) decreased to 7.2 tons (9.8) during full-year 2022. The change was driven by a higher proportion of fossil-free electricity and somewhat lower energy consumption. Sequentially, CO² emissions increased in the quarter compared to the third quarter, mainly as a result of seasonally higher energy consumption, but also due to completed acquisitions. Total CO² emissions decreased by 10 percent for full-year 2022 compared with the preceding year.

The proportion of renewable and fossil-free electricity in the quarter increased from 28 percent to 34 percent, driven primarily by increased usage of renewable electricity in the US, Germany, and Poland.

Social engagement. Trelleborg participates actively in the local communities where the Group operates. The focus is on promoting education and physical activity among children and young people. In Lithuania, for example, Trelleborg participated in a number of activities aimed at children and young people for the purpose of increasing their awareness regarding sustainability, recycling, and circularity.

BUSINESS AREA

TRELLEBORG INDUSTRIAL SOLUTIONS

Trelleborg Industrial Solutions is a leading supplier of polymer-based critical solutions in selected industrial application areas and infrastructure projects.

Net sales	3,691	2,831	30	13,998	10,953	28
Change total, %	30	9		28	7
Organic sales, %	18	8		18	10
Structural change, %	1	1		2	1
Currency effects, %	11	0		8	-4
EBIT	483	366	32	1,928	1,360	42
EBIT, %	13.1	12.9		13.8	12.4
Capital employed, closing balance	12,857	11,062		12,857	11,062
Return on capital employed R12, %	15.6	12.6	24	15.6	12.6	24

Additional key ratios on pages 18 - 19

FOURTH QUARTER 2022

Organic sales for the quarter rose by 18 percent year on year, positively influenced by higher volumes and price adjustments. Sales were good in Asia and increased significantly in Europe and North America. Sales to the construction-related market segment were slightly positive during the quarter, though the trend was weaker in Europe. Deliveries to the aerospace and automotive industries were at highly favorable levels. Sales to the marine segment were strong, driven by larger project transactions.

EBIT and the EBIT margin increased year on year, primarily as a result of higher volumes and good capacity to adapt prices to match increased costs. Exchange rate effects from the translation of foreign subsidiaries had a positive impact of SEK 25 M on EBIT compared with the year-earlier quarter.

FULL-YEAR 2022

Organic sales for the full year increased 18 percent year on year. The sales trend was strong in all major geographic regions. All market segments reported double-digit organic sales growth. The order book remained strong at the end of the year, although with a slightly lower order intake during the fourth quarter.

EBIT and the EBIT margin increased year on year, and both sales and EBIT reached their highest level to date. Generally effective cost control and active price adjustments for customers offset increasing costs during the year. Exchange rate effects from the translation of foreign subsidiaries had a positive impact of SEK 82 M on EBIT compared with the preceding year.

Net sales per geographic market and per industry are based on full-year 2022.

BUSINESS AREA

TRELLEBORG SEALING SOLUTIONS

Trelleborg Sealing Solutions is a leading global supplier of polymer-based sealing solutions and components deployed in general industry, automotive and aerospace.

Net sales	4,303	3,106	39	15,662	12,480	25
Change total, %	39	16		25	15
Organic sales, %	12	14		10	19
Structural change, %	14	1		5	0
Currency effects, %	13	1		10	-4
EBIT	850	656	30	3,491	2,865	22
EBIT, %	19.8	21.1		22.3	23.0
Capital employed, closing balance	28,140	15,102		28,140	15,102
Return on capital employed R12, %	18.6	20.1	-7	18.6	20.1	-7

Additional key ratios on pages 18 - 19

FOURTH QUARTER 2022

Organic sales for the quarter rose by 12 percent year on year primarily as an adaptation of prices to increased costs, but also from a certain amount of volume growth. Acquisitions contributed to a 14-percent increase in sales. Sales to general industry increased slightly, while deliveries to the aerospace industry continued their very strong performance in all geographic regions. Sales to the automotive industry were favorable, and developed better than the underlying market. Sales to healthcare & medical performed well.

EBIT increased with contributions from acquisitions and healthy volume growth. However, the EBIT margin was diluted as a result of these acquisitions, as well as of acquisitions and integrations costs. The margin in the business area, excluding these acquisitions, remained on a par with the year-earlier quarter. Exchange rate effects from the translation of foreign subsidiaries had a positive impact of SEK 58 M on EBIT compared with the year-earlier quarter.

Minnesota Rubber & Plastics, with annual sales of around SEK 2,250 M, was consolidated as of October 27, 2022, and was therefore included in the accounts for two months of the fourth quarter. Depreciation after completion of the purchase price allocation (PPA) totaled SEK 37 M for the quarter. The corresponding total depreciation for full-year 2023 is estimated at approximately SEK 220 M. Refer to page 21. Initially, the

EBIT margin in the business area will be diluted somewhat. The acquisition will generate significant synergies which will be gradually implemented over the next two to three years. After realized synergies, the margin is estimated to return to previous levels.

FULL-YEAR 2022

Organic sales for the full year increased 10 percent year on year. Acquisitions contributed a 5-percent increase in sales. Sales to all geographic regions were positive. North America performed the most favorably, while sales in Asia were limited by Covid restrictions in China for most of the year as well as a virulent outbreak of the virus at the end of the year when restrictions were eased. Sales to all industries performed positively, where deliveries to the aerospace industry and healthcare & medical stood out with highly robust growth.

EBIT increased as the result of volume growth, price adjustments in relation to customers and completed acquisitions. The EBIT margin declined, due primarily to completed acquisitions. The effect of rising purchasing prices for energy and input goods, as well as general inflation, was balanced out by price adjustments for customers and efficiency improvements. Exchange rate effects from the translation of foreign subsidiaries had a positive impact of SEK 221 M compared to the preceding year.

Net sales per geographic market and per industry are based on full-year 2022.

DISCONTINUING OPERATIONS

An agreement was signed during the fourth quarter of 2021 to divest the Group's printing blanket operation to Continental. The buyer has received the necessary approvals from all the relevant authorities. A few formalities remain, and the transaction is expected to be finalized within the coming months.

In March 2022, an agreement was signed to divest Trelleborg Wheel Systems to Yokohama Rubber Company. Closing of the transaction is subject to the approval of the relevant authorities. The divestment is expected to be finalized in the first half of 2023, most likely in the first few months of the year.

For further information, refer to page 23.

Excluding items affecting comparability, SEK M	Q4 2022	Q4 2021	Change, %	12M 2022	12M 2021	Change, %
Net sales	3 741	3 070	22	14 615	11 961	22
Change total, %	22	11		22	4
Organic sales, %	8	24		18	17
Structural change, %	-	-12		-6	-7
Currency effects, %	14	-1		10	-6
EBIT 1	642	334	92	2 435	1 401	74
EBIT, %	17,2	10,9		16,7	11,7
Capital employed, closing balance 2	17 942	15 712		17 942	15 712
Return on capital employed R12, %	14,2	9,0	58	14,2	9,0	58

1 EBIT was positively impacted by SEK 167 M in Q4 2022 and SEK 490 M in 12M 2022 since depreciation was stopped on assets held for sale in accordance with IFRS 5, mainly attributable to Trelleborg Wheel Systems.

2 Capital employed includes the impact of SEK 518 M from depreciation that was stopped on assets held for sale in accordance with IFRS 5.

Of which Trelleborg Wheel Systems, SEK M	Q4 2022	Q4 2021	Change, %	12M 2022	12M 2021	Change, %
Net sales	3,401	2,753	24	13,277	10,076	32
Change total, %	24	26		32	15
Organic sales, %	10	25		20	19
Structural change, %	-	-		-	-
Currency effects, %	14	1		12	-4
EBIT	428	275	56	1,768	1,214	46
EBIT, %	12.6	10.0		13.3	12.0
Capital employed, closing balance	15,965	14,374		15,965	14,374
Return on capital employed R12, %	11.4	8.7	31	11.4	8.7	31

TRELLEBORG WHEEL SYSTEMS

FOURTH QUARTER 2022

Organic sales for the quarter rose by 10 percent year on year. The sales of agricultural tires to OE manufacturers increased considerably in the majority of geographical markets. Sales to North American customers performed particularly well. In contrast, deliveries to aftermarket customers decreased significantly, primarily in Europe and Asia. Performance in sales of tires for material handling vehicles and off-highway vehicles reflected the same trend, meaning higher sales levels to OE manufacturers and lower sales levels to aftermarket customers.

EBIT and the EBIT margin improved, primarily as a result of price adjustments and increased sales to OE manufacturers. This offset the increased costs of raw materials and energy. Exchange rate effects from the translation of foreign subsidiaries had no impact on EBIT compared with the yearearlier quarter.

FULL-YEAR 2022

Organic sales for the full year increased 20 percent year on year. Sales increased in all major regions, particularly North and South America. The organic sales trend in tires for agricultural machinery, material handling vehicles and offhighway vehicles was positive in all cases.

EBIT and the EBIT margin improved, primarily as a result of price adjustments and increased sales to OE manufacturers. This offset the increased costs of raw materials and energy. The positive trend was particularly noticeable in North and South America. Exchange rate effects from the translation of foreign subsidiaries had a negative impact of SEK 11 M on EBIT compared to the preceding year.

SIGNIFICANT EVENTS DURING THE QUARTER

Nomination Committee for the 2023 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 General Meeting.

The following have agreed to participate in the Nomination Committee prior to 2023 Annual General Meeting:

Ragnar Lindqvist, Dunker Foundations

Per Trygg, Lannebo Funds

Anna Sundberg, Handelsbanken Funds

Johan Sjöström, Second Swedish National Pension Fund Ulrik Grönvall, Swedbank Robur Funds

The Annual General Meeting will be held in Trelleborg, Sweden, on April 27, 2023.

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, 2023.

The press release was published on October 5, 2022.

Acquisition of sewer and drainage pipe rehabilitation market leader. Trelleborg signed an agreement and finalized the acquisition of an operation within sewer and drainage pipe rehabilitation, specializing in the manufacture of machinery, robotics and liners, used in trenchless pipe repairs. The operation is part of the German-based privately owned company Innovative Sewer Technologies. The acquisition complements Trelleborg's current trenchless pipe repair offerings with new technology and materials.

The operation has its head office and manufacturing in Bochum, Germany, with sales offices in Europe and North America, and a network of independent distributors. Sales amounted to approximately SEK 200 M in 2021.

The business was consolidated as of November 30, 2022. Press releases were published on October 11 and December 1, 2022.

Acquisition of Minnesota Rubber & Plastics. Trelleborg finalized the acquisition of the US-based company Minnesota Rubber & Plastics for USD 950 million on a cash and debt-free basis. If a tax asset of approximately USD 90 million is taken into account, the purchase price amounts to approximately USD 860 million. Trelleborg has secured committed financing. The seller is an affiliate of the global investment firm KKR.

Minnesota Rubber & Plastics is a strong and wellestablished company in North America operating in several fast-growing industries such as medical equipment, water management and food & beverage, as well as in several industrial applications. The company is a leading manufacturer of polymer and thermoplastic components and a system provider for technically demanding applications.

The company was founded in 1945 and has annual sales of approximately SEK 2,250 M with good profitability and strong sales growth. The company has its headquarters and innovation center outside of Minneapolis, Minnesota, US, and has a total of eight manufacturing facilities globally, of which four are in the US and the remainder in Mexico, England, the Czech Republic and China.

The business was consolidated as of October 27, 2022.

Press releases were published on August 2 and October 27, 2022.

Acquisition in aerospace. Trelleborg finalized the acquisition of the German-based company MG Silikon GmbH, an entity within Saint-Gobain Group. The company specializes in sealing solutions for aerospace and industrial applications.

The company has its head office and manufacturing in Lindau, Germany, and has annual sales of approximately SEK 120 M.

The business was consolidated as of October 31, 2022. Press releases were published on July 22 and October 31, 2022.

Proposal for new Chairman of the Board. After fourteen years on the Board, five of which as Chairman, the Chairman of the Board of Trelleborg, Hans Biörck, notified the Nomination Committee that he would not be standing for re-election at Trelleborg AB's 2023 Annual General Meeting. The Nomination Committee therefore resolved to propose current Board member Johan Malmquist as the company's new Chairman of the Board at the 2023 Annual General Meeting.

Johan Malmquist has been a Board member of the Group since 2016. His current assignments include Chairman of the Board of Arjo AB and Getinge AB and Board member of the Dunker Foundations. If the Annual General Meeting resolves to elect Johan Malmquist, he will step down from his assignment in the Dunker Foundations. Johan Malmquist's previous roles include President and CEO of Getinge AB and various senior positions at Electrolux AB.

The press release was published on November 21, 2022.

Acquisition of market leader in automotive boots in India.

Trelleborg signed an agreement to acquire an operation specializing in automotive boots for the fast-growing Indian light vehicles market. The operation is part of the India-based privately owned company Injectoplast. The acquisition means that Trelleborg further strengthens its globally leading market position in automotive boots.

The company has its head office and manufacturing in Kanpur, in the north of India, close to a light vehicle manufacturing cluster, and has annual sales of approximately SEK 70 M.

The transaction is expected to be finalized in the first quarter of 2023.

The press release was published on November 25, 2022.

Nasdaq Stockholm Disciplinary Committee. The Disciplinary Committee of Nasdaq resolved to order Trelleborg AB to pay a fine of four annual fees, equivalent to an amount of SEK 9.6 M as a result of the company's information disclosure procedures in connection with rumors involving the divestment of the Trelleborg Wheel Systems business area in December 2021.

The Disciplinary Committee was of the opinion that Trelleborg, during the Christmas weekend, should have acted more swiftly in disclosing information to Nasdaq Stockholm and that Trelleborg, on the matter, had breached the rules regarding the disclosure of information to the market in article 17 of MAR.

Trelleborg had argued that the matter had been handled

correctly and had explained that only early discussions with external partners had taken place in December 2021 but that these discussions were not sufficiently precise to inform the market.

The press release was published on November 30, 2022.

Key financial figures for Minnesota Rubber & Plastics. Trelleborg confirmed the key financial figures for the newlyacquired Minnesota Rubber & Plastics.

The press release was published on December 5, 2022.

Shareholding notification. At the close of business in the stock market on December 14, 2022, Trelleborg had during 2022 acquired a total of 13,559,211 Series B treasury shares, corresponding to 5.002 percent of the total number of shares and 2.57 percent of the total number of votes in the company.

The share buybacks form part of the buyback program of a maximum of 25,272,178 shares of Series B for a total maximum amount of SEK 5,000 M, which Trelleborg announced on April 27, 2022.

The press release was published on December 15, 2022.

Capital Markets Day 2023. Trelleborg announced its Capital Markets Day for March 21, 2023, an event for institutional investors, analysts, and the media.

The press release was published on December 21, 2022.

Update regarding divestment of Trelleborg Wheel Systems.

In a press release, Trelleborg clarified that it expects to finalize the divestment in the first half of 2023, likely in the first months of the year.

The press release was published on December 27, 2022.

Update regarding divestment of printing blanket operation.

The buyer of Trelleborg's printing blanket operation has received the necessary approvals from all of the relevant authorities. A few formalities remain, and the transaction is expected to be finalized within the coming months.

OTHER

NEWS IN PRODUCTS AND SOLUTIONS

More PureFab™ seals. Trelleborg launched two additionals to its Isolast® PureFab™ material range, which were developed for sealing applications for the semiconductor industry. Microchips are manufactured in semiconductor fabrication plans – giant cleanrooms – whose production equipment relies on critical sealing that can stand up to the particular harsh conditions of fab processing.

Easier chemical transportations. Trelleborg has gathered its sealing expertise and offering in chemical transportation under the name of Tran-SECURE™. Pumps, valves and seals used in filling and emptying tanks in conjunction with chemical transportation are crucial in preventing leaks of hazardous substances into the environment. The Tran-SECURE™ Fluid Sealing Management Program provides full accessibility and ensures regulatory compliance of its components.

More than just a hose. Trelleborg's service center in Lyon, France, has been approved as a cleanroom for hoses, which means that hoses for food production undergo a strict cleansing protocol with fully traceable and certified hoses. This creates savings for food producers by eliminating the initial cleansing step for them, and the hoses are fully ready for use.

Longer service life. The MountFinder Pro app has been updated with an even larger product database. With the mobile phone's built-in accelerometer and measurement sensor, the vibration levels in different machines can be measured directly, and it becomes easier to identify the best Trelleborg antivibration mount required for a specific application.

Safer in Panama. Starting in October 2023, NeoPanamax vessels will be able to use Trelleborg's SafePilot P3 Navigation System for Panama Canal transits. It facilitates high-accuracy navigation solution, enabling more efficient operations in constrained waterways.

The SafePilot technology platform is part of SmartPort, the collective term for Trelleborg's various solutions in marine systems, which includes products for berthing, docking and mooring.

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 about 50 countries, sales are conducted in just over 150 countries worldwide and manufacturing operations are carried out at more than 100 production sites. The business is diversified, 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. Trelleborg focuses on maintaining an exposure to industries that jointly have a good balance between early and late cyclical industry, meaning general as well as capital-intensive industry, the demands from which often balance each other out. Seasonal effects occur in the various industries, with demand in the first half of the year tending to be slightly higher than in the second half of the year.

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. The strong demand during 2021 brought challenges in the supply chain, but also rising costs for raw

materials, freight and energy, as well as staff shortages in some regions. These challenges remained in 2022 on account of the volatile geopolitical situation, combined with increased inflationary pressure. Measures to combat the spread of the coronavirus in some countries may still impact the supply chain. Trelleborg has continuously managed its supply chain and has activated action plans to limit the disruptions in the supply of raw materials.

The effects of the geopolitical situation and the continued existence of the coronavirus, and the uncertainties associated with these, will persist in the forthcoming quarter.

Impact on the financial reporting due to the war in

Ukraine. Trelleborg's exposure to Russia and Ukraine is limited. During 2021, revenues from Russia and Ukraine accounted for less than 2 percent of the Group's total revenues, the majority being sales of agricultural tires. Furthermore, Trelleborg has no manufacturing sites in Russia or Ukraine. Hence, the ongoing war has very limited direct financial effects on Trelleborg. As of December 31, 2022, there was no significant impact on any balance sheet items. A provision of SEK 90 M was recorded during the first quarter of 2022, which fully covered the Group's fixed assets and working capital attributable to Russia and Ukraine.

Given the uncertainties surrounding the ongoing war, it is very difficult to predict potential indirect effects on Trelleborg.

This report has not been subject to review by the company's auditor.

Trelleborg, January 27, 2023 Board of Directors of Trelleborg AB (publ)

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 2021. No new or revised IFRSs or interpretative statements applied as of January 1, 2022 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 2021 Annual and Sustainability Report.

Comparative figures have been restated on account of the transfer of the Trelleborg Wheel Systems business area to discontinuing operations and the transfer of a small operation from the Trelleborg Industrial Solutions business area to Group activities.

Condensed Income Statements

Income Statements, SEK M	Q4 2022	Q4 2021	12M 2022	12M 2021
Net sales	8,113	6,016	30,095	23,789
Cost of goods sold	-5,267	-3,966	-19,341	-15,232
Gross profit	2,846	2,050	10,754	8,557
Selling expenses	-610	-473	-2,242	-1,890
Administrative expenses	-815	-624	-2,808	-2,328
Research and development costs	-175	-111	-554	-432
Other operating income	72	136	295	265
Other operating expenses	-80	-50	-384	-269
Profit from associated companies	1	0	5	0
EBIT, excluding items affecting comparability	1,239	928	5,066	3,903
Items affecting comparability	-115	-128	-241	-83
EBIT	1,124	800	4,825	3,820
Financial income and expenses	-76	-34	-230	-140
Profit before tax	1,048	766	4,595	3,680
Tax	-283	-254	-1,166	-971
Net profit, continuing operations	765	512	3,429	2,709
Net profit, discontinuing operations	431	240	1,828	1,007
Net profit, Group	1,196	752	5,257	3,716
		752
- equity holders of the parent company	1,197		5,260	3,717
- non-controlling interest	-1	0	-3	-1
Earnings per share, SEK ¹	Q4 2022	Q4 2021	12M 2022	12M 2021
Continuing operations	2.98	1.89	13.01	10.00
Discontinuing operations	1.68	0.89	6.93	3.72
Group	4.66	2.78	19.94	13.72
Group, excluding items affecting comparability	5.10	3.29	20.81	14.24
Continuing operations, excluding items affecting comparability	3.40	2.28	13.80	10.26
¹ No dilution effects arose.
Number of shares	Q4 2022	Q4 2021	12M 2022	12M 2021
End of period	271,071,783	271,071,783	271,071,783	271,071,783
of which, in treasury	13,691,970	-	13,691,970	-
Average number	257,803,579	271,071,783	263,885,220	271,071,783
Statements of comprehensive income, SEK M	Q4 2022	Q4 2021	12M 2022	12M 2021
Net profit, Group	1,196	752	5,257	3,716
Other comprehensive income
Items that will not be reclassified to the income statement
Reassessment of net pension obligation	30	39	145	66
Income tax relating to components of other comprehensive income	-8	-5	-32	-10
Total	22	34	113	56
Items that may be reclassified to the income statement
Cash flow hedges	42	56	408	121
Hedging of net investment	-142	-59	-966	-303
Translation difference	-328	470	3,774	1,758
Income tax relating to components of other comprehensive income	21	20	112	52
Total	-407	487	3,328	1,628
Other comprehensive income, net of tax	-385	521	3,441	1,684
Total comprehensive income	811	1,273	8,698	5,400
Total comprehensive income attributable to:
- equity holders of the parent company	814	1,273	8,701	5,401
- non-controlling interest	-3	0	-3	-1
EBIT specification, continuing operations, SEK M	Q4 2022	Q4 2021	12M 2022	12M 2021
Excluding items affecting comparability:
EBITDA	1,654	1,237	6,475	5,107
Depreciation/write-down, property, plant and equipment	-302	-246	-1,093	-973
EBITA	1,352	991	5,382	4,134
Amortization/write-down, intangible assets	-113	-63	-316	-231
EBIT	1,239	928	5,066	3,903

Items affecting comparability -115 -128 -241 -83 EBIT 1,124 800 4,825 3,820

Condensed Balance Sheets

Balance Sheets, SEK M	Dec 31	Dec 31
	2022	2021
Property, plant and equipment	7,589	10,000
Right-of-use assets	1,507	1,864
Goodwill	20,818	18,792
Other intangible assets	5,744	4,390
Participations in associated companies	61	60
Financial non-current assets	456	42
Deferred tax assets	543	594
Total non-current assets	36,718	35,742
Inventories	5,463	6,395
Current operating receivables	6,620	7,093
Current tax assets	1,068	1,013
Interest-bearing receivables	429	114
Cash and cash equivalents	3,924	3,460
Total current assets	17,504	18,075
Assets held for sale	22,844	1,823
Total assets	77,066	55,640
Share capital	2,620	2,620
Other capital contributions	226	226
Other reserves	5,339	2,011
Profit brought forward	24,037	24,416
Net profit for the year	5,260	3,717
Total	37,482	32,990
Non-controlling interests	6	8
Equity	37,488	32,998
Interest-bearing non-current liabilites	9,029	9,666
Other non-current liabilities	86	202
Pension obligations	352	525
Other provisions	288	152
Deferred tax liabilites	910	926
Total non-current liabilities	10,665	11,471
Interest-bearing current liabilities	16,124	1,738
Current tax liabilites	1,360	1,309
Other current liabilites	6,045	7,162
Other provisions	361	380
Total current liabilities	23,890	10,589
Liabilites held for sale	5,023	582
Total equity and liabilities	77,066	55,640

	Attributable to shareholders of the Parent Company									Non-controlling interests		Total
	Other capital Share Capital contributions			Other reserves Profit brought forward
	Dec 31 2022	Dec 31 2021	Dec 31 2022	Dec 31 2021	Dec 31 2022	Dec 31 2021	Dec 31 2022	Dec 31 2021	Dec 31 2022	Dec 31 2021	Dec 31 2022	Dec 31 2021
Opening balance, January 1	2,620	2,620	226	226	2,011	382	28,133	25,717	8	8	32,998	28,953
Net profit/loss for the year Other comprehensive							5,260	3,717	-3	-1	5,257	3,716
income Repurchase own shares					3,328	1,629	113 -3,079	54 -	1 -	1 -	3,442 -3,079	1,684 -
Dividend Impact from IAS 29 1							-1,481 351	-1,355 -	- -	- -	-1,481 351	-1,355 -
Closing balance	2,620	2,620	226	226	5,339	2,011	29,297	28,133	6	8	37,488	32,998

	affected equity,
Number of shares	SEK M
Dec 31	Dec 31
2022	2022
Opening repurchased own shares -	-
Purchases for the year 13,691,970	-3,079
Cancellations for the year -	-
Closing repurchased own shares 13,691,970	-3,079

For treasury shares, all rights are void until such time as these shares are re-issued. Repurchased shares include the cost of own shares held by the Parent Company. The number of own shares is calculated using the cash/settlement approach.

Condensed Cash-flow Statements

Operating activities EBIT incl part in associated companies 1,124 800 4,825 3,820 Adjustments for items not included in cash flow from operating activities: Depreciation, property, plant and equipment 209 168 760 664 Depreciation, right-of-use assets 87 76 323 309 Amortization, intangible assets 113 63 316 231 Impairment losses, property, plant and equipment 7 38 10 45 Impairment losses, intangible assets 0 14 14 - Dividend from associated companies 1 0 1 1 Participations in associated companies and other non cash-flow affecting items -6 0 -15 -23 Capital gain in divested operations -140 - - - Interest received 201 103 254 123 Interest paid -206 -129 -390 -271 Other financial items 38 6 31 8 Taxes paid -234 -189 -984 -787 Cash flow from operating activities before changes in working capital 1,334 950 4,991 4,134 Cash flow from changes in working capital Change in inventories 99 -219 -694 -762 Change in operating receivables 780 527 -461 -522 Change in operating liabilities -211 -85 81 802 Cash flow from operating activities 2,002 1,173 3,917 3,652 Investing activities Acquisitions -10,935 -392 -11,199 -573 Disposed/discontinuing operations 149 - - - Capital increase associated companies -9 -16 -29 - Capital expenditure, property, plant and equipment -496 -388 -1,186 -951 Capital expenditure, intangible assets -37 -22 -112 -94 Sale of non-current assets 27 5 57 114 Cash flow from investing activities -11,450 -797 -12,307 -1,533 Financing activities New/utilized loans 11,714 441 16,706 1,813 Amortized loans -9,389 -583 -12,403 -6,913 Amortized leased liabilities -87 -76 -322 -303 Repurchase own share -384 -3,079 - - Dividend - equity holders of the parent company -1,481 -1,355 - - Cash flow from financing activities 1,854 -218 -579 -6,758 Total cash flow, continuing operations -7,594 158 -8,969 -4,639 Total cash flow, discontinuing operations 9,250 -382 10,121 2,239 Cash flow for the period, Group 1,656 -224 1,152 -2,400 Cash and cash equivalents At beginning of the period 2,746 3,577 3,496 5,756 Cash classified as assets held for sale -328 72 -835 -36 Exchange rate differences -150 35 111 140 Cash and cash equivalents at end of period 3,924 3,460 3,924 3,460	Cash flow statements, SEK M	Q4 2022	Q4 2021	12M 2022	12M 2021

Change in liabilities from financing activities, SEK M

Change in liabilities from financing activities, SEK M				Non-cash changes
	Dec 31 2021	Transfer between non current and current loans	Cash changes	Acqui sitions	Translation differences	Fair value changes	Lease liabilities according to IFRS 16	Pension liabilities	Dec 31 2022
Non-current loans	7,964	-1,263	418	-	553	-	-	-	7,672
Current loans	1,098	1,263	13,708	-	-588	-	-	-	15,481
Other non-current financial liabilities	2	-	-1	-	0	-	-	-	1
Other current financial liabilities	264	-	-358	-	419	-	-	-	325
Lease liabilities according to IFRS 16	2,102	-	-375	-	193	-	295	-	2,215
Pension obligations	549	-	33	-	41	-	-	-165	458
Total	11,979	-	13,425	-	618	-	295	-165	26,152

Key figures

Trelleborg employs a number of alternative performance measures related to financial position, including return on equity and capital employed, net debt, 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 performance metrics of EBITDA, 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 description and calculation of key figures, see https://www.trelleborg.com/en/investors/financial-definitions.

SEK M		Q4 2022	Q4 2021	12M 2022	12M 2021
Net sales
Trelleborg Industrial Solutions		3,691	2,831	13,998	10,953
Trelleborg Sealing Solutions		4,303	3,106	15,662	12,480
Group activities		169	137	650	600
Eliminations		-50	-58	-215	-244
Continuing operations		8,113	6,016	30,095	23,789
Discontinuing operations		3,741	3,070	14,615	11,961
Eliminations		-20	-13	-73	-127
Group		11,834	9,073	44,637	35,623
EBIT, excluding items affecting comparability
Trelleborg Industrial Solutions		483	366	1,928	1,360
Trelleborg Sealing Solutions		850	656	3,491	2,865
Group activities		-94	-94	-353	-322
Continuing operations		1,239	928	5,066	3,903
Discontinuing operations		642	334	2,435	1,401
Group		1,881	1,262	7,501	5,304
EBIT %, excluding items affecting comparability
Trelleborg Industrial Solutions		13.1	12.9	13.8	12.4
Trelleborg Sealing Solutions		19.8	21.1	22.3	23.0
Continuing operations		15.3	15.4	16.8	16.4
Discontinuing operations		17.2	10.9	16.7	11.7
Group		15.9	13.9	16.8	14.9
Net sales per market continuing operations, organic growth, %		Q4 2022	Q4 2021	12M 2022	12M 2021
Europe (46)		13	7	10	14
North- and South America (33)		18	16	21	10
Asia and rest of the world (21)		14	8	11	22
Total (100% refer to share 2022)		15	9	14	15
Bridge net sales
	Q4 2021, SEK M	Organic sales, %	Structural change, %	Currency effects, %	Q4 2022, SEK M

Trelleborg Industrial Solutions	2,831	18	1	11	3,691
Trelleborg Sealing Solutions	3,106	12	14	13	4,303
Group activities	79				119
Continuing operations	6,016	15	8	12	8,113

Exchange rate differences impacting EBIT excluding items affecting comparability ¹, SEK M	Q4 2022	12M 2022
Trelleborg Industrial Solutions	25	82
Trelleborg Sealing Solutions	58	221
Group activities	-8	-24
Continuing operations	75	279

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

TRELLEBORG AB – FOURTH QUARTER AND YEAR-END REPORT 2022

Specification of capital employed, SEK M	Dec 31 2022	Dec 31 2021
Working capital	5,591	3,610
Property, plant and equipment	7,589	5,934
Right-of-use assets	1,507	1,445
Intangible assets	26,561	15,558
Participations in joint ventures/associated companies	61	10
Continuing operations	41,309	26,557
Discontinuing operations	17,935	15,689
Group	59,244	42,246

SEK M	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021	Q1 2021	Q4 2020
Net sales
Trelleborg Industrial Solutions	3,691	3,472	3,512	3,323	2,831	2,708	2,833	2,581	2,587
Trelleborg Sealing Solutions	4,303	3,970	3,725	3,664	3,106	3,086	3,155	3,133	2,673
Group activities	169	141	171	169	137	134	170	159	190
Eliminations	-50	-47	-57	-61	-58	-56	-79	-51	-41
Continuing operations	8,113	7,536	7,351	7,095	6,016	5,872	6,079	5,822	5,409
Discontinuing operations	3,741	3,491	3,677	3,706	3,070	2,806	3,090	2,995	2,754
Eliminations	-20	-16	-19	-18	-13	-30	-40	-44	-45
Group	11,834	11,011	11,009	10,783	9,073	8,648	9,129	8,773	8,118
Organic sales, %
Trelleborg Industrial Solutions	18	17	16	21	8	10	23	3	-4
Trelleborg Sealing Solutions	12	13	7	8	14	24	37	6	-4
Continuing operations	15	15	11	13	9	16	31	5	-3
EBIT, excluding items affecting comparability
Trelleborg Industrial Solutions	483	476	528	441	366	326	360	308	385
Trelleborg Sealing Solutions	850	884	879	878	656	720	755	734	512
Group activities	-94	-82	-88	-89	-94	-89	-79	-60	-52
Continuing operations	1,239	1,278	1,319	1,230	928	957	1,036	982	845
Discontinuing operations	642	514	694	585	334	288	381	398	261
Group	1,881	1,792	2,013	1,815	1,262	1,245	1,417	1,380	1,106
EBIT %, excluding items affecting comparability
Trelleborg Industrial Solutions	13.1	13.7	15.0	13.3	12.9	12.0	12.7	11.9	14.9
Trelleborg Sealing Solutions	19.8	22.3	23.6	24.0	21.1	23.3	24.0	23.4	19.1
Continuing operations	15.3	17.0	17.9	17.3	15.4	16.3	17.0	16.9	15.6
Discontinuing operations	17.2	14.7	18.9	15.8	10.9	10.3	12.3	13.3	9.5
Group	15.9	16.3	18.3	16.8	13.9	14.4	15.5	15.7	13.6

TRELLEBORG AB – FOURTH QUARTER AND YEAR-END REPORT 2022

Condensed Income Statements, SEK M	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021	Q1 2021	Q4 2020
Net sales	8,113	7,536	7,351	7,095	6,016	5,872	6,079	5,822	5,409
Cost of goods sold	-5,267	-4,835	-4,706	-4,533	-3,966	-3,761	-3,842	-3,663	-3,403
Gross profit	2,846	2,701	2,645	2,562	2,050	2,111	2,237	2,159	2,006
Selling expenses	-610	-563	-546	-523	-473	-506	-464	-447	-419
Administrative expenses	-815	-687	-650	-656	-624	-522	-583	-599	-593
Research and development costs	-175	-132	-125	-122	-111	-109	-104	-108	-112
Other operating income	72	136	73	14	136	53	36	40	144
Other operating costs	-80	-177	-80	-47	-50	-69	-87	-63	-181
Profit from associated companies	1	0	2	2	0	-1	1	0	0
EBIT, excluding items affecting comparability	1,239	1,278	1,319	1,230	928	957	1,036	982	845
Items affecting comparability	-115	-68	-33	-25	-128	-20	-40	105	-107
EBIT	1,124	1,210	1,286	1,205	800	937	996	1,087	738
Financial income and expenses	-76	-69	-40	-45	-34	-34	-37	-35	-51
Profit before tax	1,048	1,141	1,246	1,160	766	903	959	1,052	687
Tax	-283	-279	-304	-300	-254	-230	-245	-242	-190
Net profit, continuing operations	765	862	942	860	512	673	714	810	497
Net profit, discontinuing operations	431	380	574	443	240	195	278	294	163
Net profit, Group	1,196	1,242	1,516	1,303	752	868	992	1,104	660
- equity holders of the parent company	1,197	1,243	1,517	1,303	752	869	992	1,104	661
- non-controlling interest	-1	-1	-1	-	0	-1	0	0	-1

Continuing operations	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021	Q1 2021	Q4 2020
Net sales, SEK M	8,113	7,536	7,351	7,095	6,016	5,872	6,079	5,822	5,409
Organic sales, %	15	15	11	13	9	16	31	5	-3
EBITDA, excl items affecting comparability, SEK M	1,654	1,621	1,652	1,548	1,237	1,256	1,334	1,280	1,161
EBITDA, excl items affecting comparability, %	20.4	21.5	22.4	21.8	20.6	21.4	22.0	22.0	21.5
EBITA, excl items affecting comparability, SEK M	1,352	1,349	1,387	1,294	991	1,013	1,093	1,037	902
EBITA, excl items affecting comparability, %	16.7	17.9	18.8	18.2	16.5	17.3	18.0	17.8	16.7
EBIT, excl items affecting comparability, SEK M	1,239	1,278	1,319	1,230	928	957	1,036	982	845
EBIT, excl items affecting comparability, %	15.3	17.0	17.9	17.3	15.4	16.3	17.0	16.9	15.6
Items affecting comparability, SEK M	-115	-68	-33	-25	-128	-20	-40	105	-107
EBIT, SEK M	1,124	1,210	1,286	1,205	800	937	996	1,087	738
Earnings per share, excluding items affecting comparability SEK	3.40	3.52	3.63	3.25	2.28	2.55	2.75	2.68	2.13
Operating cash flow, excl items affecting comp., SEK M	1,678	928	798	328	937	1,014	864	484	1,291
Cash conversion ratio, excl items affecting comp., R12, %	74	63	69	76	85	96	101	121	128
Capital employed, closing balance, SEK M	41,309	31,862	30,247	27,786	26,557	25,945	25,659	25,975	24,239
Return on capital employed R12, %	15.3	15.7	15.5	14.9	14.9	14.8	13.5	11.5	10.2
Group total	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021	Q1 2021	Q4 2020
Earnings per share, excl items affecting comparability, SEK	5.10	5.00	5.81	4.90	3.29	3.32	3.81	3.82	2.90
Earnings per share, Group, SEK	4.66	4.79	5.68	4.81	2.78	3.21	3.65	4.08	2.43
Free cash flow, SEK M	1,823	499	583	400	654	836	1,095	725	1,397
Net debt, closing balance, SEK M	-20,897	-12,038	-10,959	-8,040	-8,367	-9,118	-9,849	-9,880	-10,026
Net debt/EBITDA	2.4	1.5	1.4	1.1	1.2	1.3	1.5	1.6	1.7
Debt/equity ratio %	56	33	31	23	25	29	32	32	35

Return on equity R12, % 14.9 14.0 13.5 11.9 12.0 11.8 11.4 9.7 9.4 Equity/assets ratio, % 49 56 57 61 59 58 57 56 54

Acquisitions

Acquisition of Minnesota Rubber & Plastics

During the fourth quarter of 2022, Trelleborg finalized, through the Trelleborg Sealing Solutions business area, the acquisition of the US-based company Minnesota Rubber & Plastics – a strong and well-established company in North America operating in several fast-growing industries such as medical equipment, water management and food & beverage, as well as in several industrial applications.

Carrying amounts of identifiable acquired assets and assumed liabilities.

Acquisition of Minnesota Rubber & Plastics, SEK M	12M 2022
	Acquired 2022
Trademarks 1	28
Customer relationships 2	3,290
Other intangible assets	-
Property, plant and equipment	625
Right-of-use assets	10
Deferred tax assets	-
Shares in associated companies	-
Interest-bearing receivables	378
Inventories	334
Operating receivables	535
Current tax asset	2
Cash and cash equivalents	140
Deferred tax liabilities	-1
Interest-bearing liabilities	-2,834
Post employment benefits	-
Provision obligations	-63
Current tax liability	-4
Operating liabilities	-350
Net assets	2,090
Goodwill	6,216
Total purchase price	8,306
Cash and other net debt in acquired operations	2,316
Impact shown in cash flow statement	10,622

¹ Excess value of trademarks are amortized over 1-10 years.

³ Excess value of customer relationships are amortized over 16 years.

The following assets were identified in the purchase price allocation (PPA):

Trademarks, SEK 28 M; customer relations, SEK 3,290 M; and goodwill, SEK 6,216 M. Depreciation of these assets for 2022 totaled SEK 37 M, and the total depreciation for 2023 is estimated at approximately SEK 220 M.

Goodwill pertains primarily to synergy effects that are expected after the acquisition.

Other acquisitions

2022

In the fourth quarter of 2022, Trelleborg signed, through its business area Trelleborg Industrial Solutions, an agreement and finalized the acquisition of an operation specializing in drainage pipe rehabilitation. The acquisition pertained primarily to the acquisition of assets and liabilities.

During the fourth quarter of 2022, Trelleborg finalized, through its business area Trelleborg Sealing Solutions, the acquisition of MG Silikon GmbH, a business unit in Saint-Gobain Group. The company specializes in sealing solutions for aerospace and industrial applications.

During the third quarter of 2022, Trelleborg finalized, through its business area Trelleborg Industrial Solutions, the acquisition of assets in the privately owned UK company Parklane Textiles Ltd., a sub-supplier to Trelleborg that develops and manufactures reinforcement materials used in polymer-coated fabrics.

In the second quarter of 2022, Trelleborg signed, through its business area Trelleborg Sealing Solutions, an agreement and finalized the acquisition of the US-based company EirMed, LLC. The company specializes in technical precision injection-molded plastic components. The products are mainly applied in medical devices, such as those used for in-vitro diagnostics, minimally invasive surgery, and orthopedics.

Certain minor adjustments were made to purchase price allocations attributable to acquisitions made in 2021.

2021

In the fourth quarter of 2021, Trelleborg signed, through its business area Trelleborg Industrial Solutions, an agreement and finalized the acquisition of a division of the US-based, privately owned company Alpha Engineered Composites. The division is active in polymer-coated fabrics used in niche applications, for example, in transportation equipment and the aerospace industry, as well as in engineered industrial products.

During the fourth quarter of 2021, Trelleborg finalized, through its business area Trelleborg Sealing Solutions, the acquisition of the office and industrial premises the Group had previously leased in Kalmar, Sweden.

In the fourth quarter of 2021, Trelleborg signed, through its business area Trelleborg Sealing Solutions, an agreement and finalized the acquisition of the privately owned US-based VB Seals Inc. The company specializes in the distribution of polymer seals such as O-rings, hydraulic seals, diaphragms and specialty kitting primarily for OE manufacturers in several industries, including agriculture.

In the first quarter of 2021, Trelleborg signed, through its business area Trelleborg Industrial Solutions, an agreement and finalized the acquisition of the Dutch company Gutteling Group BV. The company develops and sells composite hoses to the chemical industry and is market leader in hoses for LNG ship-to-ship transfer.

The acquisition of Alpha Engineered Compositions was an acquisition of assets and liabilities, while the other acquisitions finalized in 2021 pertained to 100 percent of the shares in the respective companies.

Carrying amounts of identifiable acquired assets and assumed liabilities.

Other acquisitions, SEK M	12M 2022	12M 2021
	Acquired 2022	Acquired 2021
Customer relationships 1	131	94
Other intangible assets	-	7
Property, plant and equipment	40	223
Right-of-use assets	53	18
Deferred tax assets	3	0
Shares in associated companies	-	-
Interest-bearing receivables	18	19
Inventories	112	62
Operating receivables	97	55
Current tax asset	-1	1
Cash and cash equivalents	43	26
Deferred tax liabilities	-16	-12
Interest-bearing liabilities	-262	-82
Post employment benefits	-9	-
Provision obligations	-1	-
Current tax liability	0	-1
Operating liabilities	-96	-37
Net assets	112	373
Goodwill	255	162
Total purchase price	367	535
Cash and other net debt in acquired operations	210	38
Impact shown in cash flow statement	577	573

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

The goodwill recognized above for 2022 was primarily attributable to synergy effects expected after the acquisition. The fair value of acquired identifiable, intangible assets is preliminary pending final measurement of these assets.

Assets and liabilities held for sale / Discontinuing operations

As of the first quarter of 2021, the Group's printing blanket operation was reported as assets and liabilities held for sale and discontinuing operations. An agreement was signed during the fourth quarter of 2021 to divest the operation to Continental. The buyer has received the necessary approvals from all of the relevant authorities. A few formalities remain, and the transaction is expected to be finalized within the coming months.

In March 2022, an agreement was signed to divest the business area Trelleborg Wheel Systems to Yokohama Rubber Company. Closing of the transaction is subject to the approval of the relevant authorities. The divestment is expected to be finalized in the first half of 2023, most likely in the first few months of the year.

The capital employed for assets held for sale amounted to SEK 17,935 M (15,689). A large share of the increase was driven by exchange rate effects and higher working capital. The purchase considerations were positively impacted in the corresponding manner, which is why capital gains reported earlier remain.

The tables below show the condensed income statements, balance sheets and cash flow statements for the Group's assets and liabilities held for sale / Discontinuing operations.

Assets and Liabilities held for sale, SEK M 1	Dec 31 2022	Dec 31 2021
Non-current assets	14,852	1,108
Current assets	7,992	715
Total assets	22,844	1,823
Non-current liabilities	1,168	207
Current liabilities	3,855	375
Total liabilities	5,023	582

¹The figures for 2021 pertain to the Group's printing blanket operations and Trelleborg Wheel Systems has been added for 2022.

Cash-flow statement for discontinuing operations, SEK M	12M 2022	12M 2021
Cash flow from operating activities	1,495	1,348
Cash flow from investing activities	-429	271
Cash flow from financing activities	9,055	620
Total cash flow from discontinuing operations		2,239

Income statement for discontinuing operations, SEK M	Q4 2022	Q4 2021	12M 2022	12M 2021
Net sales	3,741	3,070	14,615	11,961
Operating expenses	-3,108	-2,780	-12,212	-10,653
EBIT	633	290	2,403	1,308
Financial items	-81	-15	-33	-63
Profit before tax	552	275	2,370	1,245
Income tax	-121	-35	-542	-238
Net profit	431	240	1,828	1,007

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 December 31, 2022, SEK M		Assets at fair value in profit and loss		Derivatives used for hedging purposes, measured at fair value
	Assets measured	Carrying	Measurement	Carrying	Measurement
	at amortized cost	amount	level	amount	level	Total
Assets in the balance sheet
Derivative instruments	-	418	2	323	2	741
Financial non-current assets	101	47	3	-		148
Accounts receivable	5,124	-		-		5,124
Interest-bearing receivable	12	-		-		12
Cash and cash equivalents	3,924	-		-		3,924
Total	9,161	465		323		9,949

	Liabilities	Liabilities at fair value in profit and loss		Derivatives used for hedging purposes, measured at fair value
	measured at amortized cost	Carrying amount	Measurement level	Carrying amount	Measurement level	Total
Liabilities in the balance sheet
Derivative instruments	-	60	2	238	2	298
Interst-bearing non-current liabilities	7,673	-		-		7,673
Interst-bearing current liabilities	15,510	49	3	-		15,559
Lease liabilities according to IFRS 16	1,674	-		-		1,674
Accounts payable	2,598	-		-		2,598
Total	27,455	109		238		27,802

Measurement techniques used to calculate fair value of level 2 assets

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 assets

A financial interest-bearing receivable of SEK 47 M is recognized at fair value. Interest-bearing current liabilities include additional purchase payments according to contract of SEK 49 M (59). 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 and earnouts according to contract, 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 49 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.

At December 31, 2021, SEK M		Assets at fair value in profit and loss		Derivatives used for hedging purposes, measured at fair value
	Assets measured at amortized cost	Carrying amount	Measurement level	Carrying amount	Measurement level	Total
Assets in the balance sheet
Derivative instruments	-	101	2	46	2	147
Financial non-current assets	35	-		-		35
Accounts receivable	5,594	-		-		5,594
Interest-bearing receivable	7	-		-		7
Cash and cash equivalents	3,460	-		-		3,460
Total	9,096	101		46		9,243

	Liabilities	Liabilities at fair value in profit and loss		Derivatives used for hedging purposes, measured at fair value
	measured at	Carrying	Measurement	Carrying	Measurement
Liabilities in the balance sheet	amortized cost	amount	level	amount	level	Total
Derivative instruments	-	39	2	335	2	374
Interst-bearing non-current liabilities	7,966	-		-		7,966
Interst-bearing current liabilities	1,112	59	3	-		1,171
Lease liabilities according to IFRS 16	2,076	-		-		2,076
Accounts payable	4,002	-		-		4,002
Total	15,156	98		335		15,589

Parent Company

Condensed Income statements, SEK M	Q4 2022	Q4 2021	12M 2022	12M 2021
Net sales	220	157	645	465
Administrative expenses	-221	-167	-415	-359
Other operating income	4	1	7	3
Other operating expenses	-258	-211	-351	-294
EBIT	-255	-220	-114	-185
Financial income and expenses	5,138	-23	8,088	4,386
Profit before tax	4,883	-243	7,974	4,201
Appropriations	94	180	94	180
Tax	-85	1	-106	5
Net profit	4,892	-62	7,962	4,386

Condensed Balance sheets, SEK M	Dec 31	Dec 31
	2022	2021
Property, plant and equipment	11	11
Intangible assets	13	18
Financial assets	42,020	36,928
Total non-current assets	42,044	36,957
Current receivables	179	182
Current tax asset	1	3
Interest-bearing receivables	96	181
Cash and cash equivalents	-	1
Total current assets	276	367
Total assets	42,320	37,324
Equity	14,458	11,056
Interest-bearing non-current liabilities	0	0
Other non-current liabilities	64	60
Total non-current liabilities	64	60
Interest-bearing current liabilities	27,631	26,046
Current tax liabilities	-	-
Other current liabilities	167	162
Total current liabilities	27,798	26,208
Total equity and liabilities	42,320	37,324

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 2021 Annual Report.

ABOUT TRELLEBORG

The Trelleborg Group is a world leader in engineered polymer solutions. The Group had sales of approximately SEK 30 billion in 2022 and operations in some 50 countries.

With Trelleborg's material expertise and industry insight into 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, digitization, 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.

The Trelleborg Group has set ambitious science-based climate targets for its own operations, aiming for net zero emissions by 2035. 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.

Goal: Sustainability leader in the industry Trelleborg is working systematically to increase the share of bio-based and recycled raw materials in everything it develops, and has committed to setting a Science Based Target.

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

Trelleborg's operational businesses are different and therefore have bespoke strategies to achieve leading positions in their markets.

New horizons for Trelleborg The technological development and climate transition in society worldwide favor the Group, and Trelleborg is involved in developing the industrial solutions of today.

The Group has strengthened its financial targets and is ready for the new reality.

Trelleborg's industries:

Business area/Industry	General industry	Light Vehicles	Healthcare & Medical	Aerospace
Trelleborg Industrial Solutions	85%	7%	3%	5%
Trelleborg Sealing Solutions	52%	22%	13%	13%
Continuing operations	67%	16%	8%	9%

Net sales per industry and business area based on full-year 2022.

PRESENTATION OF THE REPORT

A combined webcast and telephone conference will be held on January 27 at 10:30 am CET.

To follow the webcast, please use the following link or visit www.trelleborg.com

To participate via telephone, please register here. After registration, you will receive a telephone number and a conference ID to log into the conference. There will be an opportunity to ask questions verbally via the telephone conference.

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

FINANCIAL CALENDER

Annual report 2022 March 16, 2023 Capital Markets Day March 21, 2023 Interim report January-March 2023 April 27, 2023 Annual General Meeting 2023 April 27, 2023 Interim report April-June 2023 July 19, 2023 Interim report July-September 2023 October 26, 2023 Year-end report 2023 February 1, 2024

FOR FURTHER INFORMATION

Investors/analysts Media Christofer Sjögren, VP Investor Relations Karin Larsson, VP Communications Phone: +46 (0)410 - 670 68 Phone: +46 (0)410 - 670 15 Mobile: +46 (0)708 - 66 51 40 Mobile: +46 (0)733 - 74 70 15 E-mail: christofer.sjogren@trelleborg.com E-mail: karin.larsson@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.

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

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 person above, for publication on January 27, 2023, at 7:45 am CET.

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