Bulten

Quarterly Report • Oct 21, 2025

INTERIM REPORT

THIRD QUARTER • JANUARY– SEPTEMBER 2025

The quarter was impacted by production stoppages at a major customer, while focus on strategic review continues

THIRD QUARTER

• • Net sales amounted to SEK 1,034 (1,333) million, a decrease of -22.4% on the same period the previous year.
• • Operating earnings (EBIT) totaled SEK 6 (91) million, equating to an operating margin of 0.6% (6.8). Restructuring costs of approximately SEK -10 million have had a negative impact on operating earnings.
• • Adjusted operating earnings (EBIT) totaled SEK 16 (91) million, equating to an operating margin of 1.5% (6.8).
• • Earnings after tax amounted to SEK -22 (38) million. Adjusted earnings after tax amounted to SEK -14 (38) million.
• • Order bookings amounted to SEK 902 (1,455) million, a decrease of -38.0% on the same period the previous year.
• • Cash flow from operating activities totaled SEK 183 (-61) million.
• • Earnings per share were SEK -1.37 (1.56). Adjusted earnings per share were SEK -1.00 (1.56).
• • In our strategic review that includes organization, factory structure and business models, we have decided on a new organizational structure during the third quarter.
• • One of Bulten's largest customers was exposed to a cyberattack at the turn of August-September that had far-reaching consequences for them, us and other parties in their value chain.

JANUARY – SEPTEMBER

• • Net sales amounted to SEK 3,802 (4,332) million, a decrease of -12.2% on the same period the previous year.
• • Operating earnings (EBIT) totaled SEK 111 (281) million, equating to an operating margin of 2.9% (6.5). Anti-dumping duties of approximately SEK -45 million and restructuring costs of SEK -18 million have had a negative impact on operating earnings.
• • Adjusted operating earnings (EBIT) totaled SEK 174 (281) million, equating to an operating margin of 4.6% (6.5).
• • Earnings after tax amounted to SEK 13 (152) million. Adjusted earnings after tax amounted to SEK 63 (152) million.
• • Cash flow from operating activities totaled SEK 381 (169) million.
• • Earnings per share were SEK -0.29 (6.42). Adjusted earnings per share were SEK 2.09 (6.42).
• • Net debt amounted to SEK 1,208 (1,461) million. Net debt, excluding lease liability, totaled SEK 744 (940) million.
• • The equity/assets ratio was 39.0% (39.4) at the end of the period. The equity/assets ratio, excluding lease liabilities, totaled 43.3% (44.0).

		Q3			JAN-SEPT		12-MONTH ROLLING	FULL YEAR
SEK MILLION	2025	2024		2025	2024		OCT 2024 –SEPT 2025	2024
Net sales	1,034	1,333	-22.4%	3,802	4,332	-12.2%	5,277	5,807	-9.1%
Gross profit	193	251	-58	698	828	-130	940	1,070	-130
Earnings before depreciation (EBITDA)	61	140	-79	271	427	-156	341	497	-156
Operating earnings (EBIT)	6	91	-85	111	281	-170	131	301	-170
Operating margin, %	0.6	6.8	-6.2	2.9	6.5	-3.6	2.5	5.2	-2.7
Adjusted operating earnings (EBIT) 1)	16	91	-75	174	281	-107	194	301	-107
Adjusted operating margin, %	1.5	6.8	-5.3	4.6	6.5	-1.9	3.7	5.2	-1.5
Earnings after tax	-22	38	-60	13	152	-139	22	161	-139
Adjusted earnings after tax	-14	38	-52	63	152	-89	72	161	-89
Earnings per share before dilution, SEK	-1.37	1.56	-2.93	-0.29	6.42	-6.71	-0.26	6.45	-6.71
Adjusted earnings per share before dilution, SEK	-1.00	1.56	-2.56	2.09	6.42	-4.33	2.12	6.45	-4.33
Return on capital employed, %	–	–	–	–	–	–	4.4	9.2	-4.8
Adjusted return on capital employed, %	–	–	–	–	–	–	6.2	9.2	-3.0

¹⁾ See specification page 17

NET SALES

SEK 1,034 MILLION (1,333)

-22.4%

OPERATING EARNINGS

SEK 6 MILLION ( 91 )

ADJUSTED OPERATING EARNINGS

SEK 16 MILLION ( 91 )

OPERATING MARGIN

0.6% (6.8)

ADJUSTED OPERATING MARGIN

1.5% (6.8)

In brackets Q3 2024

CEO'S STATEMENT

Sales and profit for the third quarter were clearly lower than the previous year. The decrease is essentially related to a cyber attack on one of our largest customers, which caused a total supply shutdown in the latter part of the quarter. Sales to segments such as medical technology and consumer electronics remained strong. During the quarter, the work to establish a new organization was completed, and the strategic shift proceeded according to plan.

At the end of August, one of our largest customers was the victim of a cyber attack that had far-reaching consequences not only for them, but also for us and other parties in their value chain. For Bulten, this meant something like SEK 200 million in lost sales during the quarter, with a significant knock-on effect on earnings. The customer's production has just started up again, with a gradual increase in production rates and scheduled to reach full volume in the middle of the fourth quarter. As a result, we expect lost sales again in Q4 of around the same scale as Q3. From the first quarter of 2026 we expect volumes to return to normal, or just above, as the customer's ability to increase production rates improves and their backlog decreases.

New organizational structure

In our strategic review, which includes organization, factory structure, and business models, we finalized a new organizational structure during the third quarter. The result is a far more decentralized organization. As part of the implementation, we have announced a reduction in approximately half of all central services linked to Gothenburg, where we have our headquarters. We have also worked on streamlining, which in total means that we are reducing the total number of employees globally by just over 200 people, since the review began in the spring. This corresponds to approximately 10% of the Group's employees and an annual cost reduction of approximately SEK 100 million.

Winning new business

We are working intensively to win new business with a larger share of value-added services and in verticals such as consumer electronics, medical technology, aerospace, and defense. The team is doing a great job and we can see that our efforts are starting to bear fruit. I would like to highlight three contracts we have won since the previous report.

The first is an order that sees us taking overall responsibility and consolidating fasteners and related components for a new car factory in Eastern Europe. Anticipated annual sales are SEK 200–300 million, with start-up from mid-2027 and good opportunities for add-on business. We will be handling several hundred items, of which about 40% will be produced by Bulten and the rest purchased through third parties.

One of the areas we are investing in the most for the future is micro screws for consumer electronics. We are making clear progress and began several interesting projects during the quarter. Also, via our subsidiary PSM, we have been nominated as a supplier for a new series of cell phones for one of the largest manufacturers, a contract we estimate to be worth an extra SEK 100 million in annual sales from the first half of 2026.

A third order of interest to the Group has been won by our subsidiary EXIM. They have entered into a framework agreement for the supply of C-items to a globally leading manufacturer of electrical installation products, with start-up scheduled before the

end of the year. The agreement comes as a result of opening our own operations with local distribution centers, with the ability to manage VMI programs in Thailand, Vietnam, and India. The contract is worth approximately SEK 20 million per year when fully implemented. It is very gratifying to see that we are winning new business in a tough market, and we look forward to continue striving ahead toward profitable growth.

Strategic shift of business model

In our strategic review, we have decided to reduce our exposure to OEMs and the percentage of our business where we are contract manufacturers, in favor of initiatives to increase orders where we manufacture niche products such as micro screws and have total responsibility for C-items.

The new strategic direction means that we want to make a major change to our factory structure and we are evaluating the possibility of divesting a number of factories.

We are convinced that the new strategic focus and a more resource-efficient organization will lead to a stronger and more profitable Bulten.

Axel Berntsson, President and CEO

BULTEN IN BRIEF

ORDER BOOKINGS AND NET SALES

Third quarter

Order bookings amounted to SEK 902 (1,455) million, a decrease of -38.0% on the corresponding period the previous year. The decreased order intake is, in all essentials, a consequence of a production stop at one of our largest customers.

Group net sales amounted to SEK 1,034 (1,333) million, a decrease of -22.4% on the same period the previous year. Adjusted for foreign exchange effects, growth totaled -18.7% for the same period.

January – September

Group net sales amounted to SEK 3,802 (4,332) million, a decrease of -12.2% on the same period the previous year. Adjusted for foreign exchange effects, growth totaled -9.5% for the same period.

EARNINGS AND PROFITABILITY

Third quarter

The Group's gross profit was SEK 193 (251) million, corresponding to a gross margin of 18.7% (18.8). Earnings before depreciation and amortization (EBITDA) amounted to SEK 61 (140) million, corresponding to an EBITDA margin of 5.9% (10.6). Operating earnings (EBIT) totaled SEK 6 (91) million, equating to an operating margin of 0.6% (6.8). Restructuring costs of approximately SEK -10 million have burdened operating profit, resulting in an adjusted operating profit of SEK 16 (91) million. This corresponds to an adjusted

operating margin of 1.5% (6.8). The operating earnings were also affected by exchange rate fluctuations of SEK 2 (-12) million when converting working capital at the closing day rate.

Net financial items for the Group amounted to SEK -19 (-36) million. The financial income of SEK 0 (6) million comprises interest income of SEK 0 (6) million. Financial expenses of SEK -19 (-42) million include interest expenses of SEK -17 (-31) million, of which interest expenses for leases totaled SEK -3 (-4) million, currency loss of SEK -1 (-9) million and other financial expenses amounted to SEK -1 (-2) million.

The Group's profit before tax amounted to SEK -13 (55) million and profit after tax was SEK -22 (38) million. Adjusted group profit before tax amounted to SEK -4 (55) million and adjusted profit after tax was SEK -14 (38) million.

January – September

The Group's gross profit was SEK 698 (828) million, corresponding to a gross margin of 18.4% (19.1). Earnings before depreciation and amortization (EBITDA) amounted to SEK 271 (427) million, corresponding to an EBITDA margin of 7.1% (9.9). Operating earnings (EBIT) totaled SEK 111 (281) million, equating to an operating margin of 2.9% (6.5). Anti-dumping duties of approximately SEK -45 million and restructuring costs of SEK -18 million have burdened operating profit, resulting in an adjusted operating profit of SEK 174 (281) million. This corresponds to an adjusted operating margin of 4.6% (6.5). The operating earnings were also affected by exchange rate fluctuations of SEK -10 (-7) million when converting working capital at the closing day rate.

Net financial items for the Group amounted to SEK -64 (-76) million. Financial income of SEK 2 (16) million comprises interest income of SEK 2 (16) million. Financial expenses of SEK -66 (-92) million include interest expenses of SEK -56 (-82) million, of which interest expenses for leases total SEK -10 (-10) million, currency loss of SEK -5 (-4) million and other financial expenses amounted to SEK -5 (-6) million.

The Group's profit before tax amounted to SEK 47 (205) million and profit after tax was SEK 13 (152) million. Adjusted group profit before tax amounted to SEK 110 (205) million and adjusted profit after tax was SEK 63 (152) million.

CASH FLOW, WORKING CAPITAL, INVESTMENTS AND FINANCIAL POSITION

Third quarter

Cash flow from operating activities totaled SEK 183 (-61) million. The effect on cash flow of the change in working capital amounted to SEK 166 (-132) million.

Inventories increased during the period by SEK 47 (96) million. Current receivables changed by SEK -220 (81) million and current liabilities changed by SEK 42 (30) million.

Cash flow from investing activities amounted to SEK -27 (-41) million. Investments of SEK 27 (40) million relate to property, plant and equipment.

January – September

Cash flow from operating activities totaled SEK 381 (169) million. The effect on cash flow of the change in working capital amounted to SEK 246 (-104) million.

Inventories changed during the period by SEK -77 (149) million. Current receivables decreased by SEK -236 (-51) million and current liabilities changed by SEK 43 (-56) million.

Cash flow from investing activities amounted to SEK -145 (-131) million. Investments of SEK 145 (129) million relate to property, plant and equipment.

On the closing date, net debt amounted to SEK 1,208 (1,461) million. Net debt, excluding lease liabilities, totaled SEK 744 (940) million.

Consolidated cash equivalents amounted to SEK 269 (298) million at the end of the period. In addition to cash equivalents, the Group also had approved but unused overdraft facilities of SEK 736 (514) million, which means that the Group's liquidity amounted to SEK 1,005 (812) million.

FINANCING AGREEMENTS

Bulten has an agreement with a banking syndicate, including Danske Bank, Citi Bank and Svensk Exportkredit (SEK), on a credit facility amounting to approximately SEK 1,710 million. The credit facility runs for three years until 2027, with an option for one plus one year. The credit facilities are associated with certain covenants. All covenants have been met during the period.

OTHER INFORMATION

ACCOUNTING POLICIES

This interim report has, for the Group, been prepared in accordance with IAS 34 Interim Financial Reporting and the Swedish Annual Accounts Act. The financial reporting for the Parent Company has been prepared in accordance with the Swedish Annual Accounts Act and RFR 2 Accounting for legal entities, issued by the Swedish Financial Reporting Board. The accounting policies applied are unchanged compared to those outlined in the 2024 Annual Report.

All amounts in SEK million unless otherwise stated. Figures in parentheses refer to the previous year. Some figures are rounded, so amounts might not always appear to match when added up.

RISKS AND RISK MANAGEMENT

Exposure to risk is a natural part of a business and this is reflected in Bulten's approach to risk management. This aims to identify and prevent risks from occurring, and to limit any damage resulting from these risks. The most significant risks for the Group relate to market and macroeconomic risks, legal and political risks, IT-related risks, financial risks, and force majeure.

The global economy is highly unstable at this time, with various political conflicts and other disrupting factors. This could have consequences for the company's financial situation. Bulten closely monitors the global financial situation.

For a more detailed description of risks, please see Note 5 Risks and risk management in the 2024 Annual Report.

SEASONAL VARIATIONS

Bulten has no traditional seasonal variation but the year reflects the customers' production days, which vary between quarters.

Generally speaking, the lowest net sales and operating earnings are seen in the third quarter with the lowest number of production days. The other quarters are relatively even but may vary slightly.

CONTINGENT LIABILITIES

There were no significant changes in contingent liabilities during the year.

TRANSACTIONS WITH RELATED PARTIES

There have been no significant transactions between related parties during the reporting period. For further information, please see Note 38 of the 2024 Annual Report.

EMPLOYEES

The average number of employees (FTE) in the Group during the period January 1 – September 30, 2025 was 1,824 (1,906). The number of employees on the closing date was 1,823.

PARENT COMPANY

Bulten AB (publ) owns, directly or indirectly, all the companies in the Group. The equity/assets ratio was 52.1% (59.4). Equity amounted to SEK 776 (881) million. The Parent Company had seven employees at the end of the period.

SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIOD

There are no other significant events to report.

THE ANNUAL GENERAL MEETING

The annual General Meeting will be held in Gothenburg, Sweden on Thursday April 23, 2026.

THE NOMINATION COMMITTE

According to an AGM decision, the nomination committee shall comprise four members: one representative for each of the three largest shareholders on the final banking day in September who wishes to appoint a member, and the Chairman of the Board. The three largest shareholders are considered to be the three largest shareholders as registered with Modular Finance AB on the final banking day in September. If any of the three largest shareholders refrains from appointing a member, an offer is made to the next largest shareholder in order.

The nomination committee ahead of the 2025 AGM is composed as follows:

• Mats Hellström, appointed by Nordea Fonder
• Viktor Henriksson, appointed by Carnegie Fonder
• Frank Larsson, appointed by Handelsbanken Fonder
• Ulf Liljedahl, Chairman of the Board of Bulten AB

Gothenburg, 21 October, 2025 Bulten AB (publ)

Axel Berntsson President and CEO

AUDITOR'S REPORT

BULTEN AB (PUBL), ORG NO. 556668-2141 This is a translation of the Swedish language original

INTRODUCTION

We have conducted a review of the summary of financial information (interim report) for Bulten AB (publ) as of September 30, 2025 and the nine-month period leading up to this date. The Board of Directors and the Chief Executive Officer are responsible for preparing and presenting this interim financial information in accordance with IAS 34 and the Swedish Annual Accounts Act.

It is our responsibility to express a conclusion on this interim report based on our review.

SCOPE OF REVIEW

We have conducted a review in accordance with the International Standard on Review Engagements ISRE 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity.

A review consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review has a different objective and is substantially less in scope than an audit in line with ISA and other generally accepted auditing standards in Sweden. The review procedures in a review engagement do not enable us to obtain reasonable assurance that we would become aware of all significant matters that might be identified in an audit.

The expressed conclusion based on a review does not, therefore, have the same assurance as an expressed conclusion based on an audit.

CONCLUSION

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

Gothenburg, October 21, 2025 Öhrlings PricewaterhouseCoopers AB

Signature on the Swedish original

Johan Palmgren Authorized Public Accountant

BULTEN IN BRIEF

With more than 150 years of expertise, Bulten is a leading global manufacturer and distributor of fasteners for customers in a range of sectors, from automotive to consumer electronics. Bulten offers both standard products and customized fasteners, as well as related services to meet the specific needs of customers.

VISION

We create and deliver the most innovative and sustainable fastener solutions.

A STRONGER SOLUTION

SHAREHOLDER INFORMATION

		Q3			JAN-SEPT	12-MONTH ROLLING	FULL YEAR
SHARE DATA	2025	2024	Δ	2025	2024	Δ	OCT 2024 - SEPT 2025	2024
Share price at end of period (price paid). SEK	53.20	67.70	-14.50	53.20	67.70	-14.50	53.20	72.70
Highest share price during the period (price paid). SEK	63.70	87.00	-23.30	78.80	93.20	-14.40	78.80	93.20
Lowest share price during the period (price paid). SEK	52.60	67.00	-14.40	52.60	63.70	-11.10	52.60	63.70
Market value at end of period. SEK million	1,119	1,424	-305	1,119	1,424	-305	1,119	1,530
P/E	-	-	-	_	-	-	-	11.26
Yield. %	_	-	_	_	-	-	-	3.78
Data per share. SEK
Earnings before depreciation (EBITDA) *)	2.90	6.70	-3.80	12.89	20.37	-7.48	16.23	23.71
Adjusted earnings before depreciation (EBITDA) *)	3.37	6.70	-3.33	15.89	20.37	-4.48	19.23	23.71
Operating earnings (EBIT) *)	0.28	4.33	-4.05	5.27	13.39	-8.12	6.23	14.35
Adjusted operating earnings (EBIT) *)	0.76	4.33	-3.57	8.27	13.39	-5.12	9.23	14.35
Earnings after net financial items (EAFI) *)	-0.65	2.62	-3.27	2.23	9.76	-7.53	3.12	10.65
Earnings for the period *)	-1.37	1.56	-2.93	-0.29	6.42	-6.71	-0.26	6.45
Adjusted earnings for the period *)	-1.00	1.56	-2.56	2.09	6.42	-4.33	2.12	6.45
Equity *)	-	-	-	83.97	92.74	-8.77	-	95.64
Cash flow from operating activities *)	8.76	-2.89	11.65	18.15	8.04	10.11	-	15.21
Cash flow for the period *)	-1.04	-9.19	8.15	-2.21	-2.38	0.17	-	-0.40
Proposed dividend	-	-	-	_	-	-	-	2.75
Total outstanding ordinary shares. 000
Weighted number during the period *)	20,988.0	20,988.0	-	20,988.0	20,988.0	-	20,988.0	20,988.0
At the end of the period *)	20,988.0	20,988.0	_	20,988.0	20,988.0	-	20,988.0	20,988.0

^*) Before dilution.

INFORMATION ABOUT INTERIM REPORTS

All of Bulten's reports are available to read and download at bulten.com. Shareholders who are unable to access the reports digitally can order printed copies by contacting Bulten.

Our subscription service at bulten.com also enables users to subscribe to Bulten's reports and press releases by e-mail.

SHARE PERFORMANCE

Source: Monitor by Modular Finance on 30 September 2025.

BULTEN'S TEN LARGEST SHAREHOLDERS

SHAREHOLDERS	NO. OF SHARES	SHARE- HOLDING, %
Volito AB	5,220,000	24.8
Nordea Funds	1,242,735	5.9
Avanza Pension	904,603	4.3
Unionen	800,000	3.8
Carnegie Fonder	500,432	2.4
Swedbank Försäkring	448,458	2.1
Nordnet Pensionsförsäkring	427,505	2.0
Dimensional Fund Advisors	408,608	1.9
HC Capital Advisors GmbH	380,358	1.8
Handelsbanken Fonder	262,063	1.3

Total number of shareholders: 10,886

Source: Monitor by Modular Finance on 30 September 2025.

FINANCIAL INFORMATION

CONSOLIDATED INCOME STATEMENT

OCT 2024 – SEK MILLION NOTE 2025 2024 2025 2024 SEPT 2025 Net sales 1 1,034 1,333 -299 3,802 4,332 -530 5,277 Cost of goods sold -841 -1,082 241 -3,104 -3,504 400 -4,337 Gross profit 193 251 -58 698 828 -130 940 Other operating income 10 49 -39 42 81 -39 51 Selling expenses -101 -109 8 -315 -333 18 -428 Administrative expenses -95 -92 -3 -294 -299 5 -399 Other operating expenses 0 -12 12 -20 -8 -12 -36 Share of profit in joint ventures -1 4 -5 0 12 -12 3 Operating earnings 6 91 -85 111 281 -170 131 Financial income 0 6 -6 2 16 -14 23 Financial expenses -19 -42 23 -66 -92 26 -88 Earnings before tax -13 55 -68 47 205 -158 66 Tax on earnings for the period -9 -17 8 -34 -53 19 -44 Earnings after tax -22 38 -60 13 152 -139 22 Attributable to Parent Company shareholders -28 33 -61 -6 135 -141 -6 Non-controlling interests 6 5 1 19 17 2 28 Earnings after tax -22 38 -60 13 152 -139 22 Earnings per share attributable to Parent Company shareholders Earnings per share before dilution, SEK -1.37 1.56 -2.93 -0.29 6.42 -6.71 -0.26 Adjusted earnings per share before dilution, SEK -1.00 1.56 -2.56 2.09 6.42 -4.33 2.12 Earnings per share after dilution, SEK -1.37 1.56 -2.93 -0.29 6.42 -6.71 -0.26 Weighted number of outstanding ordinary shares before dilution, 000 20,988.0 20,988.0 – 20,988.0 20,988.0 – 20,988.0 Weighted number of outstanding ordinary shares after dilution, 000 20,988.0 20,988.0 – 20,988.0 20,988.0 – 20,988.0		Q3		JAN-SEPT	12-MONTH ROLLING	FULL YEAR
						2024
						5,807
						-4,737
						1,070
						90
						-446
						-404
						-24
						15
						301
						37
						-114
						224
						-63
						161
						135
						26
						161
						6.45
						6.45
						6.45
						20,988.0
						20,988.0

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

		Q3			JAN-SEPT	12-MONTH ROLLING	FULL YEAR
SEK MILLION	2025	2024		2025	2024		OCT 2024 – SEPT 2025	2024
Earnings after tax	-22	38	-60	13	152	-139	22	161
Other comprehensive income
Items not to be reversed in the income statement
Revaluation of defined-benefit pension plans, net after tax	–	–	–	–	–	–	1	1
Items that may later be reversed in the income statement
Exchange differences	-31	-4	-27	-186	61	-247	-125	122
Total comprehensive income	-53	34	-87	-173	213	-386	-102	284
Attributable to
Parent Company shareholders	-60	30	-90	-187	196	-383	-127	256
Non-controlling interests	7	4	3	14	17	-3	25	28
Total comprehensive income	-53	34	-87	-173	213	-386	-102	284

CONSOLIDATED BALANCE SHEET

SEK MILLION	30-09-2025	30-09-2024	31-12-2024
ASSETS
Fixed assets
Intangible fixed assets 1)	594	628	641
Tangible fixed assets	1,175	1,112	1,178
Right-of-use assets	418	494	481
Financial assets	63	67	71
Deferred tax assets	90	45	64
Total fixed assets	2,340	2,346	2,435
Current assets
Inventories	1,098	1,202	1,174
Current receivables	899	1,177	1,140
Cash equivalents	269	298	350
Total current assets	2,266	2,677	2,664
Total assets	4,606	5,023	5,099
EQUITY AND LIABILITIES
Equity
Equity attributable to Parent Company shareholders	1,763	1,946	2,007
Non-controlling interests	34	33	46
Total equity	1,797	1,979	2,053
Long-term liabilities
Deferred tax liabilities	11	20	19
Long-term interest-bearing lease liabilities	392	450	437
Other long-term interest-bearing liabilities and provisions	1,012	1,238	1,215
Total long-term liabilities	1,415	1,708	1,671
Current liabilities
Current lease liabilities, interest-bearing	72	70	92
Other current liabilities, interest-bearing	2	2	2
Other current liabilities, non interest-bearing	1,320	1,264	1,281
Total current liabilities	1,394	1,336	1,375
Total equity and liabilities	4,606	5,023	5,099

1) Of which goodwill SEK 553 (582) (594) million.

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

	JAN-SEPT
SEK MILLION	30-09-2025	30-09-2024	31-12-2024
Equity at start of period	2,053	1,838	1,838
Comprehensive income
Earnings after tax	13	152	161
Other comprehensive income	-186	61	123
Total comprehensive income	-173	213	284
Transactions with shareholders
Transaction with non-controlling interests	-25	-24	-24
Non-controlling interests arising from the acquisition of subsidiary	-	4	7
Dividend to Parent Company shareholders	-58	-52	-52
Total transactions with shareholders	-83	-72	-69
Equity at end of period	1,797	1,979	2,053

CONSOLIDATED CASH FLOW STATEMENT

	Q3		JAN-SEPT		FULL YEAR
SEK MILLION	2025	2024	2025	2024	2024
Operating activities
Earnings after financial items	-13	55	47	205	224
Adjustments for items not included in cash flow	42	24	137	125	189
Taxes paid	-12	-8	-49	-57	-75
Cash flow from operating activities before changes in working capital	17	71	135	273	338
Cash flow from changes in working capital
Change in working capital	166	-132	246	-104	-19
Cash flow from operating activities	183	-61	381	169	319
Investing activities
Acquisition of intangible fixed assets	-0	-1	-1	-3	-4
Acquisition of tangible fixed assets	-27	-40	-145	-129	-200
Divestment of tangible fixed assets	0	0	1	1	2
Change in financial assets	-	–	-	–	-1
Cash flow from investing activities	-27	-41	-145	-131	-203
Financing activities
Change in overdraft facilities and other financial liabilities	-148	-46	-141	48	31
Amortization of lease liabilities	-18	-21	-57	-60	-79
Dividend to Parent Company shareholders	-	–	-58	-52	-52
Transactions with non-controlling interests	-12	-24	-26	-24	-24
Cash flow from financing activities	-178	-91	-282	-88	-124
Cash flow for the period	-22	-193	-46	-50	-8
Cash flow for the period	-22	-193	-46	-50	-8
Cash and cash equivalents at start of period	297	493	350	340	340
Exchange rate difference in cash and cash equivalents	-6	-2	-35	8	18
Cash and cash equivalents at end of period	269	298	269	298	350

CONSOLIDATED NET DEBT COMPOSITION

SEK MILLION	30-09-2025	30-09-2024	31-12-2024
Long-term interest-bearing liabilities	-1,392	-1 675	-1,640
Provision for pensions	-12	-13	-12
Current interest-bearing liabilities	-74	-72	-94
Financial interest-bearing receivables	1	2	2
Cash equivalents	269	298	350
Net debt (-)	-1,208	-1,461	-1,394
Less interest-bearing liabilities attributable to lease liabilities	464	520	529
Adjusted net debt (-), (excluding lease liabilities)	-744	-940	-865

FIGURES FOR THE GROUP

	Q3		JAN-SEPT	FULL YEAR
GROUP	2025	2024	2025	2024	2024
Margins
EBITDA margin, %	5.9	10.6	7.1	9.9	8.6
Adjusted EBITDA margin, % 3)	6.8	10.6	8.8	9.9	8.6
EBIT margin (operating margin), %	0.6	6.8	2.9	6.5	5.2
Adjusted EBIT margin (operating margin), % 3)	1.5	6.8	4.6	6.5	5.2
Net margin, %	-2.2	2.9	0.3	3.5	2.8
Adjusted net margin, % 3)	-1.4	2.9	1.7	3.5	2.8
Capital structure
Interest coverage ratio, times	0.3	2.3	1.7	3.2	3.0
Earnings per share attributable to Parent Company shareholders
Earnings per share before dilution, SEK	-1.37	1.56	-0.29	6.42	6.45
Adjusted earnings per share before dilution, SEK 3)	-1.00	1.56	2.09	6.42	6.45
Earnings per share after dilution, SEK	-1.37	1.56	-0.29	6.42	6.45
Number of outstanding ordinary shares
Weighted number of outstanding ordinary shares before dilution, 000	20,988.0	20,988.0	20,988.0	20,988.0	20,988.0
Weighted number of outstanding ordinary shares after dilution, 000	20,988.0	20,988.0	20,988.0	20,988.0	20,988.0

GROUP		30-09-2025 30-09-2024	31-12-2024
Capital structure
Net debt/equity ratio, times	-0.7	-0.7	-0.7
Equity/assets ratio, %	39.0	39.4	40.3
Equity/assets ratio, (excluding lease liabilities, IFRS 16), %	43.3	44.0	44.9
Other
Net debt (-), SEK million	-1,208	-1,461	-1,394
Adjusted net debt (-), (excluding lease liabilities), SEK million	-744	-940	-865
Equity per share attributable to Parent Company shareholders
Equity per share before dilution, SEK	83.97	92.74	95.64
Equity per share after dilution, SEK	83.97	92.74	95.64
Number of outstanding ordinary shares
Number of outstanding ordinary shares before dilution on the closing date, 000	20,988.0	20,988.0	20,988.0
Number of outstanding ordinary shares after dilution on the closing date, 000	20,988.0	20,988.0	20,988.0

		12-MONTH ROLLING	FULL YEAR
	OCT 2024 – SEPT 2025	OCT 2023 – SEPT 2024	2024
Profitability ratios
Return on capital employed, %	4.4	9.8	9.2
Adjusted return on capital employed, % 1)	6.2	9.8	9.2
Return on capital employed, (excluding leasing, IFRS 16), %	4.6	10.8	10.2
Adjusted return on capital employed, (excluding leasing IFRS 16), %	6.5	10.7	10.2
Return on capital employed, excluding goodwill, %	5.2	11.7	11.0
Adjusted return on capital employed, excluding goodwill, %	7.4	11.7	11.0
Return on equity, %	-0.3	8.2	7.1
Adjusted return on equity, % 2)	2.4	8.2	7.1
Capital structure
Capital turnover rate, times	1.5	1.6	1.6
Employees
Net sales per employee, SEK 000	2,893	3,100	3,048
Operating earnings per employee, SEK 000	72	165	158
Average number of full-time employees (FTE)	1,824	1,906	1,905

DEFINITIONS

Definitions of calculated key indicators are unchanged compared to the definitions in the 2024 Annual Report. Other key indicators not in the Annual Report or on page 18 of this interim report are explained below.

• 1) Adjusted return on capital employed: Earnings before financial expenses adjusted for non-recurring items as a percentage of average capital employed.
• 2) Adjusted return on equity: Net earnings adjusted for non-recurring items divided by average equity.
• 3) Adjusted result: Result adjusted for non-recurring items.

QUARTERLY DATA FOR THE GROUP

		2025			2024	2023
SEK MILLION	Q3	Q2	Q1	Q4	Q3	Q2	Q1	Q4	Q3
Order bookings	902	1,211	1,314	1,470	1,455	1,541	1,299	1,582	1,566
Income statement
Net sales	1,034	1,337	1,431	1,475	1,333	1,466	1,533	1,576	1,378
Gross profit	193	253	252	242	251	259	318	258	210
Adjusted gross profit 3)	193	253	290	242	251	259	318	258	210
Earnings before depreciation (EBITDA)	61	112	98	70	140	124	163	87	77
EBITDA margin, %	5.9	8.4	6.8	4.8	10.6	8.4	10.7	5.6	5.6
Adjusted Earnings before depreciation (EBITDA) 3)	71	120	143	70	140	124	163	87	82
Adjusted EBITDA margin, % 3)	6.8	9.0	10.0	4.8	10.6	8.4	10.7	5.6	5.9
Operating earnings (EBIT)	6	6.1	44	20	91	74	116	33	31
EBIT margin (operating margin), %	0.6	4.6	3.1	1.4	6.8	5.1	7.5	2.1	2.3
Adjusted Operating earnings (EBIT) 3)	16	69	89	20	91	74	116	33	36
Adjusted EBIT margin (operating margin), % 3)	1.5	5.2	6.2	1.4	6.8	5.1	7.5	2.1	2.6
Earnings after tax	-22	21	14	9	38	40	74	30	-25
Net margin, %	-2.2	1.6	1.0	0.6	2.9	2.7	4.8	1.9	-1.8
Adjusted earnings after tax 3)	-14	27	50	9	38	40	74	30	-20
Adjusted Net margin, % 3)	-1.4	2.1	3.5	0.6	2.9	2.7	4.8	1.9	-1.5
Cash flow from
operating activities	183	127	71	150	-61	107	123	89	20
investing activities	-27	-54	-64	-72	-41	-51	-39	-27	-559
financing activities	-178	-109	5	-36	-91	-2	5	-87	597
Cash flow for the period	-22	-36	12	42	-193	54	89	-25	58
Earnings per share attributable to Parent Company shareholders
Earnings per share before dilution, SEK	-1.37	0.69	0.39	0.03	1.56	1.64	3.22	1.00	-1.49
Adjusted earnings per share before dilution, SEK 3)	-1.00	1.00	2.09	0.03	1.56	1.64	3.22	1.00	-1.25
Number of outstanding ordinary shares
Weighted number of outstanding ordinary shares before dilution, 000	20,988.0	20,988.0	20,988.0	20,988.0	20,988.0	20,988.0	20,988.0	20,988.0	20,988.0

³⁾ See definitions on page 12

QUARTERLY DATA FOR THE GROUP

SEK MILLION	30-09-2025	30-06-2025	31-03-2025	31-12-2024	30-09-2024	30-06-2024	31-03-2024	31-12-2023	30-09-2023	30-06-2023	31-03-2023
Balance sheet
Fixed assets	2,340	2,366	2,361	2,435	2,346	2,353	2,319	2,236	2,264	1,842	1,771
Current assets	2,266	2,467	2,503	2,664	2,677	2,690	2,691	2,616	2,676	2,491	2,451
Equity	1,797	1,862	1,907	2,053	1,979	1,969	2,007	1,838	1,901	1,988	1,923
Long-term liabilities	1,415	1,617	1,667	1,671	1,708	1,690	1,631	1,232	1,243	671	763
Current liabilities	1,394	1,354	1,290	1,375	1,336	1,384	1,372	1,782	1,796	1,674	1,535
Other
Net debt (-)	-1,208	-1,382	-1,383	-1,394	-1,461	-1,338	-1,304	-1,340	-1,422	-812	-780
Adjusted net debt (-)	-744	-910	-903	-865	-940	-793	-777	-834	-882	-301	-277
Equity per share attributable to Parent Company shareholders
Equity per share before dilution, SEK	83.97	86,84	88.58	95.64	92.74	91.31	93.51	85.88	88.54	92.99	90.11
Number of outstanding ordinary shares
Number of outstanding ordinary shares on closing date before dilution, 000	20,988.0	20,988.0	20,988.0	20,988.0	20,988.0	20,988.0	20,988.0	20,988.0	20,988.0	20,988.0	20,988.0
Share price
Share price at end of period (SEK)	53.20	60.90	63.30	72.70	67.70	83.50	73.50	80.00	69.70	99.40	88.20

GROUP, 12-MONTH ROLLING

SEK MILLION	OCTOBER 2024– SEPTEMBER 2025	JULY 2024– JUNE 2025	APRIL 2024– MARCH 2025	JANUARY 2024– DECEMBER 2024	OCTOBER 2023– SEPTEMBER 2024	JULY 2023– JUNE 2024	APRIL 2023– MARCH 2024	JANUARY 2023– DECEMBER 2023	OCTOBER 2022– SEPTEMBER 2023
Income statement
Net sales	5,277	5,576	5,705	5,807	5,908	5,953	5,903	5,757	5,520
Gross profit	940	998	1,004	1,070	1,086	1,045	1,003	968	955
Adjusted gross profit 3)	978	1,035	1,042	1,070	1,086	1,045	1,003	968	963
Earnings before depreciation (EBITDA)	341	420	432	497	514	451	422	419	480
EBITDA margin, %	6.5	7.5	7.6	8.6	8.7	7.6	7.2	7.3	8.7
Adjusted earnings before depreciation (EBITDA) 3)	404	474	477	497	514	456	435	432	503
Adjusted EBITDA margin, % 3)	7.6	8.5	8.4	8.6	8.7	7.7	7.4	7.5	9.1
Operating earnings (EBIT)	131	216	229	301	314	254	230	230	300
EBIT margin (operating margin), %	2.5	3.9	4.0	5.2	5.3	4.3	3.9	4.0	5.4
Adjusted operating earnings (EBIT) 3)	194	269	274	301	314	259	243	243	324
Adjusted EBIT margin (operating margin), % 3)	3.7	4.8	4.8	5.2	5.3	4.4	4.1	4.2	5.9
Earnings after tax	22	82	101	161	182	119	122	127	170
Net margin, %	0.4	1.5	1.8	2.8	3.1	2.0	2.1	2.2	3.1
Adjusted earnings after tax 3)	72	125	137	161	182	124	135	140	192
Adjusted net margin, % 3)	1.4	2.2	2.4	2.8	3.1	2.1	2.3	2.4	3.5
Employees
Net sales per employee, SEK 000	2,893	2,990	3,035	3,048	3,100	3,138	3,145	3,451	3,398
Operating earnings per employee, SEK 000	72	116	122	158	165	134	123	138	184
Average number of full-time employees (FTE) on closing date	1,824	1,865	1,880	1,905	1,906	1,897	1,877	1,668	1,625
Profitability ratios
Return on capital employed, %	4.4	6.5	7.0	9.2	9.8	8.2	8.2	8.1	9.1
Adjusted return on capital employed, % 1)	6.2	8.0	8.2	9.2	9.8	8.4	8.5	8.5	9.8
Return on capital employed, (excluding leasing, IFRS 16), %	4.6	7.2	7.7	10.2	10.8	9.2	8.9	8.7	10.3
Return on capital employed, (excluding goodwill), %	5.2	7.7	8.3	11.0	11.7	9.3	9.3	9.2	10.4
Adjusted return on capital employed, excluding goodwill, % 1)	7.4	9.4	9.7	11.0	11.7	9.5	9.7	9.6	11.2
Return on equity, %	-0.3	3.0	4.0	7.1	8.2	4.7	5.0	5.7	8.1
Adjusted return on equity, % 2)	2.4	5.3	5.8	7.1	8.2	5.0	5.6	6.5	9.3
Other
Net debt (-)/EBITDA	-3.5	-3.3	-3.2	-2.8	-2.8	-3.0	-3.1	-3.2	-3.0
Adjusted net debt (-)/EBITDA*)	-2.2	-2.2	-2.1	-1.7	-1.8	-1.8	-1.8	-2.0	-1.8
Adjusted net debt (-)/Adjusted EBITDA**)	-2.3	-2.3	-2.3	-2.1	-2.2	-2.1	-2.2	-2.4	-2.1

^*) Adjusted net debt (-): Net debt exclusive lease liabilities **) Adjusted EBITDA: Adjusted for non-recurring items 1), 2) and 3) See definitions on page 12

NOTE 1 INCOME

Bulten is engaged in manufacturing and sales of fasteners. Revenues from product sales are reported at the time the control of the product is transferred to the customer. This usually takes place at the time of delivery to the customer and ownership is transferred. Bulten's customers are mainly in the automotive industry in Europe, Asia and North America. The table below refers to income by geographic market where the customer's delivery point is located. The Group has the majority of its income from customers in

INCOME BY GEOGRAPHIC MARKET

		Q3		JAN-SEPT			12-MONTH ROLLING	FULL YEAR
SEK MILLION	2025	2024		2025	2024		OCT 2024 – SEPT 2025	2024
Sweden	118	123	-5	432	455	-23	582	605
Germany	59	70	-11	185	179	6	244	238
UK	262	394	-132	1,083	1,358	-275	1,511	1,786
Poland	37	9	28	57	35	22	67	45
Rest of Europe	207	344	-137	986	1,143	-157	1,378	1,535
China	183	209	-26	545	590	-45	799	844
USA	68	73	-5	204	237	-33	272	305
Rest of the world	100	111	-11	310	335	-25	424	449
Total income	1,034	1,333	-299	3,802	4,332	-530	5,277	5,807

INCOME BY CUSTOMER GROUP

		Q3			JAN-SEPT		12-MONTH ROLLING	FULL YEAR
SEK MILLION	2025	2024		2025	2024		OCT 2024 – SEPT 2025	2024
OEM Light vehicle	546	807	-261	2,264	2,688	-424	3,146	3,570
OEM Heavy commercial vehicle	104	117	-13	364	389	-25	490	515
Tiers	198	226	-28	612	731	-119	838	957
Other income	186	183	3	562	524	38	803	765
Total income	1,034	1,333	-299	3,802	4,332	-530	5,277	5,807

Europe, but part of the sales is then exported to other markets in the rest of the world. Customers are mainly manufacturers of light vehicles but also heavy commercial vehicles and other suppliers, so-called tiers. Of the total sales, the majority goes to the chassis/body. Other income refers to other industries outside the automotive industry, such as consumer electronics and the affiliated company Exim Mfr & Enterprise.

INCOME BY CHASSIS/BODY AND POWERTRAIN

		Q3 JAN-SEPT					12-MONTH ROLLING	FULL YEAR
	2025	2024		2025	2024		OCT 2024 – SEPT 2025	2024
Chassis/body	711	968	-257	2,719	3,193	-474	3,764	4,238
Powertrain	137	179	-42	521	615	-94	710	804
Other income	186	186	-	562	524	38	803	765
Total income	1,034	1,333	-299	3,802	4,332	-530	5,277	5,807

INCOME DISTRIBUTED BY INCOME CATEGORY

		Q3			12-MONTH JAN-SEPT ROLLING			FULL YEAR
SEK MILLION	2025	2024		2025	2024		OCT 2024 – SEPT 2025	2024
Own production	593	719	-126	2,138	2,449	-311	2,920	3,231
Outsourced production	416	591	-175	1,555	1,769	-214	2,213	2,427
Other income	25	23	2	109	114	-5	144	149
Total income	1,034	1,333	-299	3,802	4,332	-530	5,277	5,807

RECONCILIATION BETWEEN IFRS AND KEY INDICATORS USED

Some of the information in this report used by company managers and analysts to assess the Group's development is not produced in accordance with IFRS. Company managers consider that this information makes it easier for investors to analyze the Group's results and financial structure. Investors should see this information as a complement to, rather than a replacement for, financial reporting in accordance with IFRS.

ADJUSTED NET SALES

		Q3	JAN-SEPT
SEK MILLION	2025	2024		2025	2024
Net sales	1,034	1,333	-299	3,802	4,332	-530
Currency effect, current period	49	-	49	120	-	120
Adjusted net sales	1,083	1,333	-250	3,922	4,332	-410

When calculating adjusted net sales, net sales are adjusted using currency effects of the current period and, where applicable, with the net sales from acquisitions made. This measurement gives a figure for comparing net sales with the previous year.

EARNINGS BEFORE DEPRECIATION, EBITDA

	Q3				JAN-SEPT		12-MONTH ROLLING	FULL YEAR
SEK MILLION	2025	2024		2025	2024		OCT 2024 – SEPT 2025	2024
Operating earnings (EBIT)	6	91	-85	111	281	-170	131	301
Depreciation/amortization and impairments	55	49	6	160	146	14	210	196
Operating earnings before depreciation (EBITDA)	61	140	-79	271	427	-156	341	497

When calculating operating earnings excluding depreciation (EBITDA), depreciation and impairments are returned to operating earnings (EBIT). This measurement provides a figure for operating earnings excluding depreciation which are in turn based on investments.

ADJUSTED EARNINGS BEFORE DEPRECIATION, ADJUSTED EBITDA

		Q3		JAN-SEPT			12-MONTH ROLLING	FULL YEAR
SEK MILLION	2025	2024		2025	2024		OCT 2024 – SEPT 2025	2024
Operating earnings excluding depreciation (EBITDA)	61	140	-79	271	427	-156	341	497
Non-recurring cost	10	-	10	63	-	63	63	–
Adjusted operating earnings before depreciation (EBITDA)	71	140	-69	334	427	-93	404	497

adjusted operating earnings, adjusted ebit

		Q3			JAN-SEPT		12-MONTH ROLLING	FULL YEAR
SEK MILLION	2025	2024		2025	2024		OCT 2024 – SEPT 2025	2024
Operating earnings (EBIT)	6	91	-85	111	281	-170	131	301
Non-recurring cost	10	-	10	63	-	63	63	–
Adjusted operating earnings (EBIT)	16	91	-75	174	281	-107	194	301

ADJUSTED NET EARNINGS

		Q3		JAN-SEPT			12-MONTH ROLLING	FULL YEAR
SEK MILLION	2025	2024		2025	2024		OCT 2024 – SEPT 2025	2024
Net earnings	-22	38	-60	13	152	-139	22	161
Non-recurring cost	8	-	8	50	-	50	50	–
Adjusted net earnings	-14	38	-52	63	152	-89	72	161

ADJUSTED NET DEBT (EXCLUDING LEASE LIABILITIES)

SEK MILLION	30-09-2025	30-09-2024	31-12-2024
Net debt (-)	-1,208	-1,461	-1,394
Less interest-bearing liabilities attributable to lease liabilities	464	520	529
Adjusted net debt (-), (excluding lease liabilities)	-744	-940	-865

When calculating adjusted net debt, interest-bearing debt attributable to lease liabilities is deducted from net debt. This measurement provides a figure for a refined financial structure excluding lease liabilities.

INCOME STATEMENT, PARENT COMPANY

		Q3			JAN-SEPT		12-MONTH ROLLING	FULL YEAR
SEK MILLION	2025	2024		2025	2024		OCT 2024 – SEPT 2025	2024
Net sales	6	7	-1	18	20	-2	25	27
Gross profit	6	7	-1	18	20	-2	25	27
Administrative expenses	-8	-9	1	-39	-37	-2	-56	-54
Operating earnings	-2	-2	-	-21	-17	-4	-31	-27
Interest income	0	–	0	0	0	-	0	0
Interest expenses and similar loss items	-8	-8	-	-21	-20	-1	-28	-27
Earnings after net financial items	-10	-10	-	-42	-37	-5	-59	-54
Appropriations	-	–	-	-	–	-	-	–
Earnings before tax	-10	-10	-	-42	-37	-5	59	-54
Tax on earnings for the period	2	2	-	8	7	1	12	11
Earnings after tax	-8	-8	-	-34	-30	-4	-47	-43

BALANCE SHEET, PARENT COMPANY

SEK MILLION	30-09-2025	30-09-2024	31-12-2024
ASSETS
Fixed assets
Intangible fixed assets	1	–	–
Tangible fixed assets	5	7	7
Total intangible and tangible fixed assets	6	7	7
Financial assets
Participations in Group companies	1,450	1,450	1,450
Other long-term receivables	1	1	1
Total financial assets	1,451	1,451	1,451
Deferred tax assets	27	15	19
Total fixed assets	1,484	1,473	1,477
Current assets
Current receivables from Group companies	0	0	–
Other current receivables	6	9	5
Cash and cash equivalents	-	–	–
Total current assets	6	9	5
Total assets	1,490	1,482	1,482
EQUITY AND LIABILITIES
Equity
Restricted equity	110	110	110
Non-restricted equity	666	771	757
Total equity	776	881	867
Long-term liabilities
Long-term liabilities to Group companies	694	575	598
Total long-term liabilities	694	575	598
Current liabilities
Current liabilities to Group companies	6	7	–
Other current liabilities	14	19	17
Total current liabilities	20	26	17
Total equity and liabilities	1,490	1,482	1,482

FINANCIAL CALENDAR

February 3, 2026 Full year report January - December 2025 April 23, 2026 Interim report January - March 2026 July 10, 2026 Half-year report January - June 2026 October 21, 2026 Interim report January - September 2026 February 11, 2027 Full year report January - December 2026

The reports can be found on the Bulten website at www.bulten.com on their date of publication.

CONTACT

Axel Berntsson, President and CEO Phone: +46 (0) 704 739 106 E-mail: axel.berntsson@bulten.com

PRESENTATION OF THE REPORT

A live presentation for analysts, media and investors will be held on October 21, at 15:30 AM CEST, where President and CEO Axel Berntsson and CFO Anna Åkerblad will be commenting the result. The presentation will be held in English.

If you wish to participate via webcast, please use the link: https://www.finwire.tv/webcast/bulten/q3-2025/ Via the webcast you are able to submit written questions.

If you wish to participate via teleconference, please dial +46 850 500 829 and use PIN code 822 2103 9843#. You can ask questions verbally via the teleconference.

This information is information that Bulten AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CEST on October 21, 2025.