Trelleborg

Earnings Release • Jul 17, 2025

Second quarter 2025 – Improved margin in a tentative market

• Net sales for the quarter declined ² percent to sek 8,551 ^m (8,711). Organic sales decreased 1 percent compared with the preceding year, structural changes increased sales by 6 percent while translation of currency reduced sales by 7 percent compared with the preceding year.
• EBITA, excluding items affecting comparability, decreased ¹ percent to sek 1,587 m (1,599). The exchange rate effect from the translation of foreign subsidiaries had a negative impact of sek 104 m. The EBITA margin was 18.6 percent (18.4).
• Items affecting comparability for the quarter totaled sek -80 ^m (-111) and pertained to restructuring costs.
• EBITA, including items affecting comparability, amounted to sek 1,507 ^m (1,488) for the quarter.
• Earnings per share, excluding items affecting comparability, amounted to sek 4.31 (4.49), down 4 percent.
• For the Group as ^a whole, earnings per share were sek 4.03 (4.14).
• Operating cash flow amounted to sek 1,000 ^m (1,193), down ¹⁶ percent.
• The cash conversion ratio for the most recent 12-month period was ⁸⁷ percent (88).
• The key figures in this report relate to continuing operations, unless otherwise stated.

The second quarter was dominated by continued uncertainty due to the global geopolitical situation and future international trade terms. The unclear trade environment adversely impacted the investment climate, promoting a cautious sentiment among companies both locally and globally. However, with the exception of the automotive industry, a general increase in business activity was noted toward the end of the period. This gives us reason for cautious optimism as we enter the second half of 2025, where we believe there is potential for organic growth for the Group.

Net sales fell by 2 percent, with organic sales declining by 1 percent year-on-year. Acquisitions made a positive contribution of 6 percent, while exchange rate effects had a negative impact of 7 percent on sales. EBITA, excluding items affecting comparability, decreased 1 percent while the margin was 18.6 percent (18.4). The cash conversion ratio for the rolling 12-month period remained stable at 87 percent.

We maintained solid profitability and even strengthened our EBITA margin, both sequentially and year-on-year, despite challenging market conditions and lower production volumes. This was the result of strong operational execution, with an emphasis on flexible production and a well-balanced pricing strategy. Ongoing structural improvements have also increased resilience for the Group's earnings capacity.

For Trelleborg Industrial Solutions, organic sales increased slightly compared with the year-earlier period. Development within diversified industrials was mixed. Sales to certain sub-segments, including seals for the construction industry in both Europe and North America, remained weak. Meanwhile, other sub-segments such as marine solutions, LNG projects, aerospace, and seals for water infrastructure posted solid growth.

Trelleborg Medical Solutions noted slightly lower organic sales year-on-year, which was due in its entirety to the cautious purchasing behavior among North American medtech customers. In Europe, sales to medtech customers posted a positive trend, while deliveries to our smaller life sciences segment increased sharply.

Trelleborg Sealing Solutions also reported a decline in organic sales year-on-year. This was due entirely to a clear fall-off in deliveries to the automotive industry. We believe that this is related to inventory adjustments among certain major customers as a

result of lower end-customer demand and increased uncertainty. Sales to the industrial segment were unchanged overall, with a strong performance in Asia offsetting somewhat lower volumes in Europe and North America. Sales to the aerospace industry continued to show solid global growth.

While we await clearer guidance on international trade conditions, we are continuing to focus on the factors we can influence. We are strengthening our organization and recently inaugurated an expansion of our facility in Malta. The purpose of this investment is to increase capacity and enhance our customer offering in the medtech and semiconductor industries. Facility inaugurations are planned in Vietnam and Costa Rica for the second half of the year, further strengthening our global presence and creating a basis for new business opportunities.

During the quarter, we completed three bolt-on acquisitions, strengthening our position in selected niche segments. In the Trelleborg Industrial Solutions business area, National Gummi was acquired – a manufacturer of rubber profiles and sealing solutions for specialized construction, industrial, and automotive applications. Sico Gesellschaft für Siliconverarbeitung, including the joint venture company Sico Silicone, was also acquired, adding expertise in silicone rubber products. In Trelleborg Sealing Solutions, the offering was broadened with the acquisition of US-based Aero-Plastics, active in high-performance components for the aerospace industry. After the end of the quarter, an agreement was also signed to acquire Masterseals, which specializes in sealing solutions for the energy and industrial sectors. These acquisitions add complementary technologies, deepen our customer relationships, and create attractive opportunities for continued profitable growth.

As we enter the second half of the year, we do so with cautious optimism. Order intake was up quarter-on-quarter, and June performed more strongly than the beginning of the quarter. Although uncertainty remains, our overall assessment is that demand in the third quarter will be somewhat higher than in the second quarter.

Peter Nilsson, President and CEO

Market outlook for the third quarter of 2025

Demand is expected to be somewhat higher compared with the second quarter of 2025, adjusted for seasonal variations. Due to the geopolitical situation, the outlook is associated with continued uncertainty.

Market outlook from the interim report published on April 24, 2025, relating to the second quarter of 2025

Demand is expected to be on a par with the fi rst quarter of 2025, adjusted for seasonal variations. Due to the geopolitical situation, the outlook is associated with unusually high uncertainty.

SECOND QUARTER 2025

Net sales

Net sales for the second quarter of 2025 amounted to sek 8,551 m (8,711), a decrease of 2 percent. Organic sales decreased 1 percent compared with the preceding year, structural changes increased sales by 6 percent while translation of currency reduced sales by 7 percent.

Sales per market

Organic sales in Europe decreased 2 percent year-on-year. Organic sales in North and South America declined 3 percent compared with the year-earlier period. Organic sales in Asia and Other markets increased by 5 percent year-on-year.

EBITA, excluding items affecting comparability

EBITA amounted to sek 1,587 m (1,599), a decrease of 1 percent. The EBITA margin was 18.6 percent (18.4).

The exchange rate effect from translation of foreign subsidiaries on EBITA, excluding items affecting comparability, had a negative effect of sek 104 m on earnings compared with the yearearlier period.

Items affecting comparability for the quarter totaled sek -80 m (-111) and pertained to restructuring costs. Including items affecting comparability, EBITA for the quarter amounted to sek 1,507 m (1,488).

EBIT

EBIT, including items affecting comparability, amounted to sek 1,362 m (1,372), a decrease of 1 percent. The exchange rate effect from translation of foreign subsidiaries on EBIT, including items affecting comparability, had a negative effect of sek 86 m on earnings compared with the year-earlier period.

Financial income and expenses

Financial income and expenses amounted to sek -125 m (-63). The comparison figure for the preceding year included interest income of sek 59 m relating to the Group's net cash position at that time. The higher level of net debt has resulted in increased interest expenses compared with the year-earlier period.

Net profit

Net profit was sek 923 m (988). The tax rate for the quarter was 25 percent (24). The underlying tax rate is expected to amount to 25 percent on a full year basis.

Earnings per share

Earnings per share, excluding items affecting comparability, amounted to sek 4.31 (4.49), down 4 percent. For the Group as a whole, earnings per share were sek 4.03 (4.14).

JANUARY-JUNE 2025

Net sales for the first half of 2025 amounted to sek 17,417 m (16,945), an increase of 3 percent. Organic sales were unchanged compared with the preceding year.

EBITA, excluding items affecting comparability, amounted to sek 3,203 m (3,089), corresponding to an EBITA margin of 18.4 percent (18.2).

The exchange rate effect from translation of foreign subsidiaries on EBITA, excluding items affecting comparability, had a negative effect of sek 99 m on earnings compared with the yearearlier period.

Items affecting comparability amounted to sek -141 m (-166) and pertained to restructuring costs. EBITA, including items affecting comparability, amounted to sek 3,062 m (2,923).

Financial income and expenses amounted to a net of sek -269 m (-83). The comparison figure for the preceding year included interest income of sek 145 m relating to the Group's net cash position at that time. The higher level of net debt has resulted in increased interest expenses compared with the yearearlier period.

Profit before tax totaled sek 2,494 m (2,613). The tax rate was 25 percent (25). Net profit for the Group amounted to sek 1,864 m (1,968).

Earnings per share, excluding items affecting comparability, amounted to sek 8.59 (8.72). For the Group as a whole, earnings per share were sek 8.11 (8.20).

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

Net sales and result

sek m	Q2 2025	Q2 2024	Change, %	6M 2025	6M 2024	Change, %
Continuing operations
Net sales	8,551	8,711	−2	17,417	16,945	3
Change total, %	−2	0		3	−3
Organic sales, %	−1	1		0	−1
Structural change, %	6	−1		6	−1
Currency effects, %	−7	0		−3	−1
EBITA, excluding items affecting comparability	1,587	1,599	−1	3,203	3,089	4
EBITA-margin, %	18.6	18.4		18.4	18.2
Items affecting comparability	−80	−111		−141	−166
EBITA	1,507	1,488	1	3,062	2,923	5
Amortization of surplus values related to acquisitions	−145	−116	−25	−299	−227	−32
EBIT	1,362	1,372	−1	2,763	2,696	2
Financial income and expenses	−125	−63	−98	−269	−83	−224
Profit before tax	1,237	1,309	−6	2,494	2,613	−5
Taxes	−314	−321	2	−630	−645	2
Net profit, continuing operations	923	988	−7	1,864	1,968	−5
Net profit, discontinuing operations	-	-		-	-
Net profit, Group	923	988	−7	1,864	1,968	−5
Earnings per share, sek
Continuing operations	4.03	4.14	−3	8.11	8.20	−1
Discontinuing operations	-	-		-	-
Group	4.03	4.14	−3	8.11	8.20	−1
Continuing operations, excluding items affecting comparability	4.31	4.49	−4	8.59	8.72	−1

Key figures and trends

Net sales, sek m EBITA, excl. items aff. comparability, sek m/EBITA % R12 Operating cash flow, sek m Earnings per share, excl items aff. comparability, sek

Return on capital employed and return on equity

%	R12 2025	R12 2024
Return on capital employed, continuing operations
Excluding items affecting comparability	11.6	12.7
Including items affecting comparability	11.0	11.5
Return on equity, Group
Excluding items affecting comparability	9.9	9.4
Including items affecting comparability	9.3	8.5

Capital employed

Capital employed for continuing operations increased year-on-year and amounted to sek 46,977 m (43,815) at the end of the quarter, mainly due to completed acquisitions. Return on capital employed for the most recent 12-month period, excluding items affecting comparability, was 11.6 percent (12.7). Return on capital employed, including items affecting comparability, for the corresponding period was 11.0 percent (11.5).

Shareholders' equity

Shareholders' equity at the close of the period amounted to sek 36,816 m (41,258), impacted negatively by translation differences, dividends to the shareholders of the Parent Company and the repurchase of own shares, and impacted positively by net profit for the year.

During the first half-year of 2025, 4,180,906 Series B shares in Trelleborg (of which 1,684,888 in the second quarter), corresponding to sek 1,596 m, were repurchased. This corresponds to 1.8 percent of the shares outstanding, which amounted to 231,328,373 on the balance sheet date. In accordance with the resolution at the Annual General Meeting on April 24, 2025, Trelleborg has canceled 10,218,813 own shares of Series B, of which 9,094,230 were repurchased during 2024 and 1,124,583 during 2025. The number of treasury shares amounted to 3,056,323 (3,536,102) on the balance sheet date.

Equity per share amounted to sek 161 (173), based on the number of outstanding shares less treasury shares on the balance sheet date (228,272,050 shares). The equity/assets ratio was 64 percent (70). The return on shareholders' equity for the Group for the most recent 12-month period, excluding items affecting comparability, totaled 9.9 percent (9.4). The return on shareholders' equity for the Group, including items affecting comparability, amounted to 9.3 percent (8.5) for the corresponding period.

Cash flow and net debt

Operating cash flow

Operating cash flow for the quarter amounted to sek 1,000 m (1,193), down 16 percent. A normal seasonal variation in working capital had a negative impact on operating cash flow. The cash conversion ratio for the most recent 12-month period was 87 percent (88).

Free cash flow

Free cash flow for the quarter amounted to sek 896 m (867). Net cash flow amounted to sek -3,626 m (-3,871). Net cash flow for the period was impacted by effects from acquisitions of sek -1,207 m (-1,099), dividends to the shareholders of the Parent Company of sek -1,719 m (-1,617) and the repurchase of own shares of sek -1,596 m (-2,022).

Net debt

Net debt at the end of the quarter amounted to sek -8,937 m (-1,981) and was impacted by net cash flow for the period of sek -3,626 m (-3,871), positive exchange rate differences on net debt in local currencies of sek 1,327 m (-765) and non-cash adjustments of lease and pension liabilities totaling sek 97 m (-27).

The debt/equity ratio was 24 percent (5). Net debt in relation to EBITDA was 1.2 (0.3).

Cash flow and net debt

sek m	Q2 2025	Q2 2024	Change, %	6M 2025	6M 2024	Change, %
EBIT, excluding items affecting comparability	1,442	1,483	−3	2,904	2,862	1
Depreciation/write-down, property, plant and equipment	330	327	1	675	649	4
Amortization/write-down, intangible assets	167	140	19	342	273	25
EBITDA	1,939	1,950	−1	3,921	3,784	4
Capital expenditure	−510	−496	−3	−929	−857	−8
Sold non-current assets	15	4	275	55	9	511
Amortization of lease liabilities	−87	−86	−1	−179	−171	−5
Change in working capital	−339	−180		−1,027	−851
Dividend from associated companies	-	0		0	0
Non cash-flow affecting items	−18	1		−20	−3
Operating cash flow, continuing operations	1,000	1,193	−16	1,821	1,911	−5
Cash conversion ratio R12, %	87	88		87	88
Operating cash flow, discontinuing operations	-	-		-	-
Operating cash flow, Group	1,000	1,193	−16	1,821	1,911	−5

sek m	6M 2025	6M 2024	12M 2024
Net debt Group, opening balance	−6,735	2,682	2,682
Operating cash flow	1,821	1,911	5,011
Cash impact from items affecting comparability	−148	−119	−334
Financial items	−267	−184	−365
Paid tax	−510	−741	−1,395
Free cash flow	896	867	2,917
Acquisitions	−1,207	−1,099	−5,496
Dividend – equity holders of the parent company	−1,719	−1,617	−1,617
Repurchase own shares	−1,596	−2,022	−4,127
Sum net cash flow	−3,626	−3,871	−8,323
Exchange rate differences	1,327	−765	−959
Lease liability 1	57	−8	−72
Pension liability 1	40	-19	−63
Net debt Group, closing balance	−8,937	−1,981	−6,735
Of which:
Pension liability	−380	−364	−421
Lease liability	−1,731	−1,679	−1,851
Net debt, excluding effect of lease and pension liability	−6,826	62	−4,463
Debt/equity ratio, %	24	5	16
Net debt/EBITDA 2	1.2	0.3	0.9

¹ Pertains to non-cash items.

² EBITDA including items affecting comparability.

Lower climate impact

Scope 1 and 2 carbon dioxide emissions for the quarter declined 14 percent compared with the year-earlier period to 12,184 metric tons (14,151). This positive trend was driven by increased energy efficiency from energy excellence projects, lower use of natural gas and offsetting energy consumption of acquisitions by renewable energy purchases. The proportion of renewable and fossil-free electricity in the quarter was on a par with the yearearlier period, totaling 91 percent (91).

Social engagement

Trelleborg actively participates in the local communities where the Group operates. The focus is on promoting education and physical activity among children and young people. Examples of community involvement include a program in Istanbul, Türkiye, where Trelleborg employees routinely give lectures to encourage upper-secondary school students to continue their studies and pursue a career in engineering. In Pernik, Bulgaria, a recurring local athletics competition for young people, with long-term support from Trelleborg, has grown into a regional competition in which hundreds of young people participate.

Carbon dioxide emissions in Scope 1 and 2 Renewable and fossil-free electricity

Trelleborg Industrial Solutions BUSINESS AREA

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

Organic sales increased 2 percent year-on-year, while acquisitions provided a positive sales effect of 4 percent. Development within diversified industrials was mixed. Sales to certain subsegments remained weak, including seals for the construction industry in both Europe and North America. Other sub-segments, such as marine solutions, LNG projects, aerospace and seals for water infrastructure, demonstrated solid growth. Deliveries to automotive manufacturers grew slightly as a result of healthy performance in Asia.

EBITA and the EBITA margin increased slightly year-on-year, primarily due to operational and structural improvements in combination with a positive sales mix. This was the highest operating profit to date for a single quarter. Exchange rate effects from the translation of foreign subsidiaries had a negative impact of sek 41 m on EBITA compared to the year-earlier period.

Sales per industry¹

Excluding items affecting comparability, sek m	Q2 2025	Q2 2024	Change, %	6M 2025	6M 2024	Change, %
Net sales	3,924	3,955	−1	7,814	7,676	2
Change total, %	−1	−1		2	−2
Organic sales, %	2	−1		2	−2
Structural change, %	4	1		3	1
Currency effects, %	−7	−1		−3	−1
EBITA	647	643	1	1,292	1,256	3
EBITA, %	16.5	16.3		16.5	16.4
Capital employed, closing balance	14,321	14,136		14,321	14,136
Return on capital employed R12, %	16.6	16.9	−2	16.6	16.9	−2

¹ Net sales per geographic market and per industry are based on full year 2024.

Trelleborg Medical Solutions BUSINESS AREA

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

Organic sales decreased 3 percent year-on-year, while acquisitions provided a positive sales effect of 36 percent. Sales to medtech customers in Europe performed well, while sales to North America were somewhat softer. Deliveries to our smaller life science segment increased sharply.

EBITA and the EBITA margin increased significantly year-on-year, primarily as a result of the acquisition and integration of Baron Group. Exchange rate effects from the translation of foreign subsidiaries had a negative impact of sek 8 m on EBITA compared to the year-earlier period.

Excluding items affecting comparability, sek m	Q2 2025	Q2 2024	Change, %	6M 2025	6M 2024	Change, %
Net sales	832	665	25	1,680	1,248	35
Change total, %	25	3		35	−4
Organic sales, %	−3	2		1	−5
Structural change, %	36	-		37	-
Currency effects, %	−8	1		−3	1
EBITA	170	92	85	341	174	96
EBITA, %	20.4	13.9		20.3	14.0
Capital employed, closing balance	9,298	5,819		9,298	5,819
Return on capital employed R12, %	4.6	4.6	0	4.6	4.6	0

¹ Net sales per geographic market and per industry are based on full year 2024.

Trelleborg Sealing Solutions BUSINESS AREA

Trelleborg Sealing Solutions is a leading global supplier of polymer-based critical sealing solutions and components deployed in aerospace, automotive and diversified industrials

Organic sales decreased 4 percent year-on-year, while acquisitions provided a positive sales effect of 3 percent. The decline in organic sales was due entirely to a clear fall-off in deliveries to the automotive industry. We believe that this related to inventory adjustments among certain major customers as a result of lower endcustomer demand and increased uncertainty. Sales to the industrials segment were unchanged overall, with a strong performance in Asia offsetting somewhat lower volumes in Europe and North America. Sales to the aerospace industry continued to show solid global growth.

EBITA and the EBITA margin decreased yearon-year, mainly due to lower production volumes, but were also affected by acquisitions with initially lower margins. Adjustments to the cost structure are continuing in response to the lower levels of demand in certain market segments. Exchange rate effects from the translation of foreign subsidiaries had a negative impact of sek 59 m on EBITA compared to the year-earlier period.

Sales per industry¹ Aerospace 19% Automotive 28% Diversied industrials 53%

Excluding items affecting comparability, sek m	Q2 2025	Q2 2024	Change, %	6M 2025	6M 2024	Change, %
Net sales	4,014	4,349	−8	8,357	8,451	−1
Change total, %	−8	7		−1	2
Organic sales, %	−4	5		−2	1
Structural change, %	3	2		4	1
Currency effects, %	−7	0		−3	0
EBITA	810	921	−12	1,678	1,785	−6
EBITA, %	20.2	21.2		20.1	21.1
Capital employed, closing balance	24,001	24,758		24,001	24,758
Return on capital employed R12, %	12.5	13.5	−7	12.5	13.5	−7

¹ Net sales per geographic market and per industry are based on full year 2024.

Decision to exercise authorization to acquire own shares

The Board of Directors of Trelleborg has decided to exercise the authorization granted by the Annual General Meeting on April 24, 2025, to acquire own shares of Series B.

The Board's ambition is to continue share buybacks in the long term without restricting the Group's scope for acquisitions and investments in the business. Acquisitions and investments, in combination with share buybacks, contribute to increased shareholder value.

In light of the ongoing weakening of established trading relationships, which has created greater uncertainty around future prospects, the Board of Directors has decided to use a limited part of the Annual General Meeting's authorization for share buybacks from April 25, 2025 to July 25, 2025. After the decided buybacks have been carried out, the Board of Directors will take a new position on the level of buybacks of own shares.

Acquisition of shares will be carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and the Commission Delegated Regulation (EU) No 2016/1052 (the "Safe Harbour Regulation"). Acquisitions of shares will be managed by an investment firm or a credit institution that makes

its trading decisions independently of Trelleborg with regard to the timing of the acquisition of shares in Trelleborg.

The purpose of the Board of Directors' decision is to adapt the company's capital structure and thereby contribute to increased shareholder value. Shares will also be repurchased for the PSP 2025/2027 for reasons and rationales set out in the AGM Notice item 17b. The intent is that the repurchased shares, excluding shares repurchased for the PSP 2025/2027, will later be cancelled by resolution of upcoming Annual General Meetings.

The press release was published on April 24, 2025.

Changes in the number of shares and votes in Trelleborg AB

In accordance with the resolution at the Annual General Meeting on April 24, 2025, Trelleborg AB has canceled 10,218,813 of its own shares of Series B that the company previously repurchased.

After the cancellation, the total number of shares in the company amounts to 231,328,373, of which 28,500,000 are shares of Series A (10 votes per share) and 202,828,373 are shares of Series B (one vote per share), corresponding to 487,828,373 votes in total.

The press release was published on April 30, 2025.

Trelleborg acquires European silicone rubber specialist

Trelleborg Group has, through its business area Trelleborg Industrial Solutions, signed an agreement and finalized the acquisition of Sico Gesellschaft für Siliconverarbeitung mbH and Czech joint venture company Sico Silicone s.r.o. Trelleborg has been a 50/50 joint venture party in Sico Silicone since 2016.

Sico develops and manufactures a range of engineered extruded and molded silicone rubber products, including tubes, hoses, and profiles, for food and beverage, healthcare, automotive niches, and building and construction. Headquarters and primary production are in Witten, Germany, with additional production in Velké Poříčí, Czech Republic. Consolidated sales amounted to approximately sek 280 m in 2024. This bolt-on acquisition aligns with Trelleborg's strategy to grow in attractive industries that complement and strengthen the Group's existing offerings.

The press release was published on May 6, 2025, the same date on which the acquisition was consolidated.

Events after the end of the quarter

Trelleborg acquires sealing specialist in Singapore

Trelleborg Group has, through its business area, Trelleborg Sealing Solutions, signed an agreement to acquire Masterseals, a Singapore-based company specializing in sealing solutions for the energy sector and industrial applications.

Masterseals is known for its engineered sealing solutions produced in small series for demanding operating environments. In addition to manufacturing, the company also operates as a technical service center focused on aftermarket support and short delivery times. In 2024, the company generated sales of just over sek 40 m. Its office and manufacturing facility are located in western Singapore, in close proximity to Trelleborg's Customer Solution Center.

The press release was published on July 11, 2025.

Trelleborg exercises authorizations to acquire own shares

The Board of Directors of Trelleborg has decided to continue to exercise the authorization granted by the Annual General Meeting on April 24, 2025, to acquire own shares of Series B until the next Annual General Meeting on April 23, 2026. This means that the Group's share buyback program will continue and may include up to 10 million B shares for a maximum amount of sek 2 billion from April 24, 2025, to April 22, 2026.

On April 25, the Board of Directors resolved to carry out buybacks of up to sek 500 m from April 25, 2025, to July 25, 2025.

Although geopolitical uncertainty remains relatively high, the Board of Directors believes that continued share repurchases

until the next Annual General Meeting can be made without restricting the Group's scope for acquisitions and investments in the business. Acquisitions and investments, in combination with share buybacks, contribute to increased shareholder value.

Trelleborg's share buy-back programs are long-term and were initiated after the Annual General Meeting on April 27, 2022. Since then, 43,105,860 shares have been bought back, corresponding to approximately 16 percent of the total number of shares before the buy-back program was initiated. Of these, 39,743,410 shares have been canceled to date.

The press release was published on July 17, 2025.

Other news

Trelleborg expands capacity in Malta

Trelleborg has inaugurated an extension of its facility in Malta, adding 6,000 m² of new space for production, offi ces, and laboratories. The investment aims to increase capacity and strengthen the customer offering in the medical and semiconductor industries. Two state-of-theart cleanrooms enable advanced manufacturing of silicone-based applications for biopharma and the semiconductor industry.

New portfolio of sealing materials for battery cells

Trelleborg has launched CellXPro™, a new portfolio of sealing materials for battery cells in electric vehicles. The materials have been developed to meet high demands for chemical resistance, durability, and performance. The launch aims to strengthen Trelleborg's position as a leading partner of battery manufacturers in the rapidly growing e-mobility market.

Key contract for automated mooring in China

Trelleborg has signed a contract to install its automated mooring solution, AutoMoor, at one of the world's leading container terminals in China. This will be the fi rst installation of its kind in the country and strengthens Trelleborg's position in port automation. The system contributes to increased effi ciency, enhanced safety, and reduced emissions.

Strategic partnership with AAR Corp.

Trelleborg has announced a strategic partnership with AAR Corp., a leading provider of aviation maintenance and logistics services. The collaboration, which was announced at the Paris Air Show, combines Trelleborg's advanced sealing technology with AAR's extensive global distribution network to strengthen access to high-performance aircraft components in the commercial aerospace aftermarket.

Risks and uncertainties

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

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

Long-term risks

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

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

Short-term risks

To date, the shift toward increased global trade barriers has had a limited direct impact on Trelleborg's operations, since the company's business model is based on regional production for a regional market. Our global presence also facilitates shifts in production to avoid tariffs. The starting point is to offset cost increases, owing to tariffs that cannot be avoided, with price increases. However, indirect impacts such as disruptions in the supply chain and increased costs of raw materials could negatively affect the business. Even the uncertainty that increased global trade barriers is creating could impact global economic activity.

Condensed Income Statements

Income Statements, sek m	Q2 2025	Q2 2024	6M 2025	6M 2024	R12 2025	12M 2024
Net sales	8,551	8,711	17,417	16,945	34,642	34,170
Cost of goods sold	−5,354	−5,465	−10,830	−10,704	−21,856	−21,730
Gross profit	3,197	3,246	6,587	6,241	12,786	12,440
Selling expenses	−620	−660	−1,280	−1,293	−2,516	−2,529
Administrative expenses	−845	−835	−1,738	−1,636	−3,481	−3,379
Research and development costs	−184	−180	−376	−353	−733	−710
Other operating income	140	105	250	247	599	596
Other operating expenses	−247	−194	−539	−348	−1,012	−821
Profit from associated companies	1	1	0	4	1	5
EBIT, excluding items affecting comparability	1,442	1,483	2,904	2,862	5,644	5,602
Items affecting comparability	−80	−111	−141	−166	−290	−315
EBIT	1,362	1,372	2,763	2,696	5,354	5,287
Financial income and expenses	−125	−63	−269	−83	−483	−297
Profit before tax	1,237	1,309	2,494	2,613	4,871	4,990
Tax	−314	−321	−630	−645	−1,239	−1,254
Net profit, continuing operations	923	988	1,864	1,968	3,632	3,736
Net profit, discontinuing operations	-	-	-	-	-	-
Net profit, Group	923	988	1,864	1,968	3,632	3,736
- equity holders of the parent company	923	988	1,864	1,968	3,633	3,737
- non-controlling interest	-	0	-	0	−1	-1

Earnings per share, sek 1	Q2 2025	Q2 2024	6M 2025	6M 2024	R12 2025	12M 2024
Continuing operations	4.03	4.14	8.11	8.20	15.64	15.73
Discontinuing operations	-	-	-	-	-	-
Group	4.03	4.14	8.11	8.20	15.64	15.73
Group, excluding items affecting comparability	4.31	4.49	8.59	8.72	16.61	16.74
Continuing operations, excluding items affecting comparability	4.31	4.49	8.59	8.72	16.61	16.74

¹ No dilution effects arose.

Condensed Income Statements

Statements of comprehensive income, sek m	Q2 2025	Q2 2024	6M 2025	6M 2024	R12 2025	12M 2024
Net profit, Group	923	988	1,864	1,968	3,632	3,736
Other comprehensive income
Items that will not be reclassified to the income statement
Reassessment of net pension obligation	4	5	40	−19	−4	−63
Income tax relating to components of other comprehensive income	−1	−1	−7	4	1	12
Total	3	4	33	−15	−3	−51
Items that may be reclassified to the income statement
Cash flow hedges	5	−8	23	−28	−15	−66
Hedging of net investment	−151	137	403	−294	297	−400
Translation difference	−655	−395	−3,772	1,394	−3,069	2,097
Income tax relating to components of other comprehensive income	31	−27	−87	66	−57	96
Total	−770	−293	−3,433	1,138	−2,844	1,727
Other comprehensive income, net of tax	−767	−289	−3,400	1,123	−2,847	1,676
Total comprehensive income	156	699	−1,536	3,091	785	5,412
Total comprehensive income attributable to:
- equity holders of the parent company	156	699	−1,536	3,091	785	5,412
- non-controlling interest	-	0	-	0	0	0

Condensed Balance Sheets

Balance Sheets, sek m	Jun 30 2025	Jun 30 2024	Dec 31 2024
Property, plant and equipment	8,925	8,393	9,306
Right-of-use assets	1,631	1,597	1,758
Goodwill	23,619	22,077	25,376
Other intangible assets	6,352	5,728	7,163
Participations in associated companies	14	57	57
Financial non-current assets	87	175	101
Deferred tax assets	531	530	542
Total non-current assets	41,159	38,557	44,303
Inventories	5,619	5,825	5,733
Current operating receivables	7,675	7,694	7,182
Current tax assets	982	1,237	1,048
Interest-bearing receivables	136	202	80
Cash and cash equivalents	2,073	5,141	2,162
Total current assets	16,485	20,099	16,205
Total assets	57,644	58,656	60,508
Share capital	2,620	2,620	2,620
Other capital contributions	226	226	226
Other reserves	2,978	5,822	6,411
Profi t brought forward	29,124	30,617	28,571
Net profi t for the year	1,864	1,968	3,737
Total	36,812	41,253	41,565
Non-controlling interests	4	5	4
Equity	36,816	41,258	41,569
Interest-bearing non-current liabilites	6,454	4,943	5,474
Other non-current liabilities	45	65	57
Pension obligations	403	387	447
Other provisions	383	422	403
Deferred tax liabilites	1,334	909	1,405
Total non-current liabilities	8,619	6,726	7,786
Interest-bearing current liabilities	4,316	2,072	3,087
Current tax liabilites	1,376	1,502	1,250
Other current liabilites	6,177	6,664	6,452
Other provisions	340	434	364
Total current liabilities	12,209	10,672	11,153
Total equity and liabilities	57,644	58,656	60,508

Condensed Change in Equity

	Attributable to shareholders of the Parent Company								Non-controlling interests		Total
	Share Capital		Other capital contributions		Other reserves		Profit brought forward
sek m	Jun 30 2025	Dec 31 2024	Jun 30 2025	Dec 31 2024	Jun 30 2025	Dec 31 2024	Jun 30 2025	Dec 31 2024	Jun 30 2025	Dec 31 2024	Jun 30 2025	Dec 31 2024
Opening balance, January 1	2,620	2,620	226	226	6,411	4,684	32,308	34,192	4	5	41,569	41,727
Net profit/loss for the year	-	-	-	-	-	-	1,864	3,737	-	−1	1,864	3,736
Other comprehensive income	-	-	-	-	−3,433	1,727	33	−51	-	-	−3,400	1,676
Repurchase own shares	-	-	-	-	-	-	−1,596	−4,127	-	-	−1,596	−4,127
Cancellation of own shares	−111	−139	-	-	-	-	111	139	-	-	-	-
Bonus issue	111	139	-	-	-	-	−111	−139	-	-	-	-
Dividend	-	-	-	-	-	-	−1,719	−1,617	-	-	−1,719	−1,617
Share based Long Term Incentive program	-	-	-	-	-	-	3	2	-	-	3	2
Impact from IAS 291	-	-	-	-	-	-	95	172	-	-	95	172
Closing balance	2,620	2,620	226	226	2,978	6,411	30,988	32,308	4	4	36,816	41,569

¹ Refers to hyperinflationary accounting in operations in Türkiye.

Condensed Cash flow Statements

Cash flow statements, sek m	Q2 2025	Q2 2024	6M 2025	6M 2024	R12 2025	12M 2024
Operating activities
EBIT incl part in associated companies	1,362	1,372	2,763	2,696	5,354	5,287
Adjustments for items not included in cash flow from operating activities:
Depreciation, property, plant and equipment	234	238	484	471	986	973
Depreciation, right-of-use assets	95	90	190	178	377	365
Amortization, intangible assets	168	140	342	273	687	618
Impairment losses, property, plant and equipment and right-of-use assets	1	1	2	2	−3	−3
Impairment losses, intangible assets	-	-	-	-	2	2
Dividend from associated companies	-	0	0	0	1	1
Participations in associated companies and other non cash-flow affecting items	−17	0	−20	−4	−24	−8
Interest received	12	37	21	84	136	199
Interest paid	−123	−109	−257	−269	−554	−566
Other financial items	−8	−6	−32	1	−31	2
Taxes paid	−224	−395	−510	−741	−1,164	−1,395
Cash flow from operating activities before changes in working capital	1,500	1,368	2,983	2,691	5,767	5,475
Cash flow from changes in working capital
Change in inventories	−108	−162	−221	−281	106	46
Change in operating receivables	−198	−175	−1,010	−802	−156	52
Change in operating liabilities	−33	202	194	260	−562	−496
Cash flow from operating activities	1,161	1,233	1,946	1,868	5,155	5,077
Investing activities
Acquisitions	−575	−1,099	−1,207	−1,099	−5,604	−5,496
Capital expenditure, property, plant and equipment	−469	−463	−860	−798	−1,809	−1,747
Capital expenditure, intangible assets	−41	−33	−69	−59	−146	−136
Sale of non-current assets	18	19	58	24	104	70
Cash flow from investing activities	−1,067	−1,576	−2,078	−1,932	−7,455	−7,309
Financing activities
New/utilized loans	3,266	485	4,591	487	8,160	4,056
Amortized loans	−779	−256	−851	−2,071	−2,930	−4,150
Amortized leased liabilities	−88	−86	−179	−171	−355	−347
Repurchase own share	−577	−937	−1,596	−2,022	−3,701	−4,127
Dividend - equity holders of the parent company	−1,719	−1,617	−1,719	−1,617	−1,719	−1,617
Cash flow from financing activities	103	−2,411	246	−5,394	−545	−6,185
Total cash flow, continuing operations	197	−2,754	114	−5,458	−2,845	−8,417
Total cash flow, discontinuing operations	-	-	-	-	-	-
Cash flow for the period, Group	197	−2,754	114	−5,458	−2,845	−8,417
Cash and cash equivalents
At beginning of the period, continuing operations	1,918	7,937	2,162	10,546	5,141	10,546
At beginning of the period, discontinuing operations	-	-	-	-	-	-
Exchange rate differences	−42	−42	−203	53	−223	33
Cash and cash equivalents at end of period	2,073	5,141	2,073	5,141	2,073	2,162

General accounting policies

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 the financial statements and their accompanying notes. 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 2024. No new or revised IFRSs or interpretative statements applied as of January 1, 2025 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 2024 Annual and Sustainability Report.

At the Annual General Meeting, held in April 2025, the decision was taken to introduce a new

performance share program, PSP 2025/2027, which includes the President and Group Management, whereby participants invest in Trelleborg AB shares. The participants in the PSP program can invest a maximum of 10 percent of their base salary. Each invested share entitles the holder to receive a maximum of three shares free of charge after the publication of the year-end report for the 2027 fiscal year. Allotment requires compliance with certain performance-based conditions and that the participant remains employed within the Trelleborg Group. For further information, refer to the decision taken at the Annual General Meeting on April 24, 2025. To date, the recognized costs for 2025 are not significant. The resolution on PSP 2024/2026 was passed at the Annual General Meeting on April 24, 2024. For further information, see the resolution from the Annual General Meeting. Recognized costs for 2025 and 2024 are not significant do date.

Significant events after the balance sheet date

There are no events to report.

Shares

Number of shares	Q2 2025	Q2 2024	6M 2025	6M 2024	R12 2025	12M 2024
End of period	231,328,373	241,547,186	231,328,373	241,547,186	231,328,373	241,547,186
of which, in treasury	3,056,323	3,536,102	3,056,323	3,536,102	3,056,323	9,094,230
Average number	228,728,646	238,738,671	229,751,026	240,028,567	232,435,058	237,573,828

Repurchased own shares that are included in	Number of shares	Amount that affected equity, sek m
the equity item Profit brought forward	30 jun 2025	30 jun 2025
Opening repurchased own shares	9,094,230	−11,086
Purchases for the year	4,180,906	−1,596
Cancellations for the year	−10,218,813	-
Closing repurchased own shares	3,056,323	−12,682

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.

Net sales and EBITA by operating segment		Q2 2025
------------------------------------------	--	---------

		Net sales
sek m	External	Internal	Total	EBITA	Of which items affect ing comparability	Of which profit/loss in associated companies
Trelleborg Industrial Solutions	3,862	62	3,924	599	−48	1
Trelleborg Medical Solutions	817	15	832	166	-4	-
Trelleborg Sealing Solutions	3,872	142	4,014	781	−28	0
Group activities/Elimination	-	−219	−219	−39	0	-
Total	8,551	-	8,551	1,507	−80	1
Amortization of surplus values linked to acquisitions				−145
Financial income				33
Financial expenses				−158
Income tax				−314
Net profit, continuing operations				923
Net profit, discontinuing operations				-
Net profit, Group				923

Net sales and EBITA by operating segment Q2 2024

		Net sales
sek m	External	Internal	Total	EBITA	Of which items affect ing comparability	Of which profit/loss in associated companies
Trelleborg Industrial Solutions	3,887	68	3,955	544	−99	1
Trelleborg Medical Solutions	625	40	665	93	-	-
Trelleborg Sealing Solutions	4,199	150	4,349	909	−12	0
Group activities/Elimination	-	−258	−258	−58	-	-
Total	8,711	-	8,711	1,488	−111	1
Amortization of surplus values linked to acquisitions				−116
Financial income				62
Financial expenses				−125
Income tax				−321
Net profit, continuing operations				988
Net profit, discontinuing operations				-
Net profit, Group				988

Net sales per market continuing operations, organic growth	Q2 2025	Q2 2024	6M 2025	6M 2024	Q2 2025	Q2 2024	6M 2025	6M 2024
	sek m	sek m	sek m	sek m	%	%	%	%
Europe (44)	3,698	3,822	7,536	7,796	−2	−1	−3	−1
North- and South America (33)	2,872	3,081	5,788	5,727	−3	3	0	−4
Asia and rest of the world (23)	1,981	1,808	4,093	3,422	5	4	7	5
Total (100% refer to share 2024)	8,551	8,711	17,417	16,945	−1	1	0	−1

Bridge net sales	Q2 2024				Q2 2025
	sek m	Organic sales, %	Structural change, %	Currency effects, %	sek m
Trelleborg Industrial Solutions	3,955	2	4	−7	3,924
Trelleborg Medical Solutions	665	−3	36	−8	832
Trelleborg Sealing Solutions	4,349	−4	3	−7	4,014
Group activities/Eliminations	−258				−219
Continuing operations	8,711	−1	6	−7	8,551

Exchange rate differences impacting EBITA excluding items affecting comparability ¹, sek m	Q2 2025	6M 2025
Trelleborg Industrial Solutions	−41	−38
Trelleborg Medical Solutions	−8	−6
Trelleborg Sealing Solutions	−59	−59
Group activities	4	4
Continuing operations	−104	−99

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

EBIT specification, continuing operations, sek m	Q2 2025	Q2 2024	6M 2025	6M 2024	R12 2025	12M 2024
Excluding items affecting comparability:
EBITDA	1,939	1,950	3,921	3,784	7,686	7,549
Depreciation/write-down, property, plant and equipment	−330	−327	−675	−649	−1,353	−1,327
Amortization/write-down, intangible assets	−22	−24	−43	−46	−79	−82
EBITA	1,587	1,599	3,203	3,089	6,254	6,140
Amortization of surplus values related to acquisitions	−145	−116	−299	−227	−610	−538
EBIT	1,442	1,483	2,904	2,862	5,644	5,602
Items affecting comparability	−80	−111	−141	−166	−290	−315
EBIT	1,362	1,372	2,763	2,696	5,354	5,287

Specification of capital employed, sek m	Jun 30 2025	Jun 30 2024	Dec 31 2024
Working capital	6,436	5,963	5,721
Property, plant and equipment	8,925	8,393	9,306
Right-of-use assets	1,631	1,597	1,758
Intangible assets	29,971	27,805	32,539
Participations in associated companies	14	57	57
Continuing operations	46,977	43,815	49,381

Acquisitions 2025

On January 9, 2025, through its Trelleborg Sealing Solutions business area, Trelleborg finalized the acquisition of the US company CRC Distribution. The company is a specialist distributor in polymer sealing solutions and related value-added services in hydraulics, hydropower, oil and gas, as well as for pumps and compressors. The company generates annual external sales of just over sek 170 m.

On February 28, 2025, through its Trelleborg Industrial Solutions business area, Trelleborg finalized the acquisition of NuFlow, headquartered in Escondido, California and operating across North America. The company is a manufacturer of specialized liners, resins and equipment for smalldiameter pipe repair. The company offers repair solutions for lateral and building interior pipes in both residential and commercial properties. Sales in 2024 amounted to approximately sek 180 m.

On April 2, 2025, Trelleborg, through its Trelleborg Industrial Solutions business area, finalized the acquisition of National Gummi AB. The business portfolio comprises extruded rubber profiles and gaskets for niche construction, industrial and automotive applications. Sales in 2024 amounted to just over sek 150 m.

On April 10, 2025, through its Trelleborg Sealing Solutions business area, Trelleborg finalized the acquisition of the US company Aero-Plastics Inc, which specializes in attractive, high-performance plastics and interior segments for the aerospace industry. Sales in 2024 amounted to approximately sek 150 m.

On May 6, 2025, through its Trelleborg Industrial Solutions business area, Trelleborg finalized the acquisition of Sico Gesellschaft für Siliconverarbeitung mbH and Czech joint venture company Sico Silicone s.r.o. Trelleborg has been a 50/50 joint venture party in Sico Silicone since 2016. Sico develops and manufactures a range of engineered extruded and molded silicone rubber products. Consolidated sales amounted to approximately sek 280 m in 2024.

The NuFlow acquisition comprised both an asset-transfer acquisition and the acquisition of 100 percent of the shares in a company. The Sico Silicone s.r.o. acquisition related to the remaining 50 percent of the shares of the former joint venture. Other acquisitions completed in 2025 refer to 100 percent of the shares in the respective companies. All acquisitions are expected to have a marginal impact on the Group's key figures.

Certain minor adjustments were made in 2025 to purchase price allocations attributable to acquisitions made in 2024.

Acquisitions, sek m	6M 2025	6M 2024
Customer relationships1	242	264
Other intangible assets	9	1
Property, plant and equipment	146	145
Right-of-use assets	78	2
Deferred tax assets	7	-
Interest-bearing receivables	-	185
Inventories	133	218
Operating receivables	142	118
Current tax asset	0	-
Cash and cash equivalents	74	107
Deferred tax liabilities	−26	−57
Interest-bearing liabilities	−269	−157
Post employment benefits	−3	0
Provision obligations	−1	-
Current tax liability	−1	−13
Operating liabilities	−158	−125
Net assets	373	688
Goodwill	699	546
Purchase consideration related to previously owned participations	−63	-
Total purchase price	1,009	1,234
Cash and other net debt in acquired operations	198	−135
Impact shown in cash flow statement	1,207	1,099

¹ Excess value of customer relationships is amortized over 12 years.

The goodwill recognized for 2025 was primarily attributable to synergy effects expected after the acquisition. The fair value of acquired, identifiable intangible assets is preliminarily pending final measurement of these assets.

Acquisitions 2024

On April 17, 2024, Trelleborg, through its Trelleborg Sealing Solutions business area, finalized the acquisition of the South Korean MNE Group, which consists of the companies Materials Nano Engi neering and Materials Nano Solution and is primarily focused on manufacturing high-performance specialty seals for both the aftermarket and OE manufacturers of semiconductor production equip ment. MNE Group generated approximately sek 300 m in sales in 2023. The acquisition agreement stipulates that a contingent consideration may be paid as part of the transaction. The additional purchase payment is divided into two parts. The first condition relates to financial performance for 2024 and 2025, which assumes an annual improvement. The target for 2024 was achieved and Trelleborg's best assessment is that the target will also be met for 2025. The second condition is associated with sales activities in relation to the company's main customer for new materials. Also in this case, it is Trelleborg's assessment that the target will be met in 2025. The contingent consideration may be paid in a range from eur 0 m (sek 0 m) to a maximum of eur 20 m (sek 232 m at the date of acquisition). At the date of acquisition, the contingent consideration is estimated at eur 20 m undiscounted and eur 19 m discounted. The fair value of the contingent consideration has been estimated by calculating the present value of future projected cash flows. A discount rate of 2.01 percent (as of June 30, 2025) has been used in the calculations. As per June 30, 2025, the contingent consideration had increased by sek 11 m as a result of changes in the discount rate compared to the acquisition date.

On May 8, 2024, Trelleborg, through its Trelleborg Industrial Solutions business area, finalized the acquisition of BP-Tech Group, including Boldan and Spraypoxy, a Finnish pipe repair specialist. Sales in 2023 amounted to just over sek 220 m.

On July 17, 2024, Trelleborg, through its Trelleborg Medical Solutions business area, finalized the acquisition of Baron Group. The company is a global leader in the manufacturing of advanced precision components. Baron Group generated sales of approximately sek 1,000 m in 2023. The acquisition agreement stipulates that a contingent consideration may be paid as part of the trans action. The contingent consideration is subject to an improved financial performance in the third fiscal year of the acquired company. Based on the outcome since the date of acquisition and the company's plans, Trelleborg's best assessment is that the target will be achieved. The contingent consideration may be paid in a range from usd 0 m (sek 0 m) to a maximum of usd 100 m (sek 1,062 m at the date of acquisition). At the date of acquisition, the contingent consideration is estimated at usd 100 m undiscounted and usd 89 m discounted. The fair value of the contingent consideration has been estimated by calculating the present value of future projected cash flows. A discount rate of 3.72 percent (as of June 30, 2025) has been used in the calculations. As per June 30, 2025, the contingent consideration had increased by sek 39 m as a result of changes in the discount rate compared to the acquisition date.

Financial instruments – classification and valuation

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

At June 30, 2025, sek m	Assets measured at amortized cost	Assets at fair value in profit and loss		Derivatives used for hedging purposes, measured at fair value
		Carrying amount	Measurement level	Carrying amount	Measurement level	Total
Assets in the balance sheet
Derivative instruments	-	101	2	54	2	155
Financial non-current assets	87	-		-		87
Accounts receivable	5,815	-		-		5,815
Interest-bearing receivable	1	-		-		1
Cash and cash equivalents	2,073	-		-		2,073
Total	7,976	101		54		8,131

	Liabilities measured at		Liabilities at fair value		Derivatives used for hedging purposes,
	amortized cost	in profit and loss		measured at fair value
		Carrying amount	Measurement level	Carrying amount	Measurement level	Total
Liabilities in the balance sheet
Derivative instruments	-	42	2	77	2	119
Interest-bearing non-current liabilities	4,170	879	3	-		5,049
Interest-bearing current liabilities	3,656	218	3	-		3,874
Lease liabilities according to IFRS 16	1,731	-		-		1,731
Accounts payable	2,311	-		-		2,311
Total	11,868	1,139		77		13,084

Change in financial liabilities in Level 3		Business						Net earnings pertain
sek m	Dec 31 2024	combinations	Payments	Discounting effect	Revaluation	Translation differences	Jun 30 2025	ing to liabilities
Contingent consideration	1,212	-	-	32	-	−147	1,097	−32

Measurement techniques used to calculate fair value of level 2

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

Measurement techniques used to calculate fair value of level 3

Interest-bearing non-current liabilities include additional purchase payments according to contract of sek 1,097 m (214), which have been calculated at present value with interest rates based on the market interest rate for the liabilities related to the acquisitions.

Disclosure on fair value of borrowings and other financial instruments

Financial interest-bearing liabilities, except for financial derivatives that adjust loans, are recognized at amortized cost. Changes in interest-rate levels and credit margins create differences between fair value and amortized cost. Measurement at fair value would increase the Group's non-current loans by sek 10 m. No remeasurement was made for current loans because the carrying amount is regarded as a good estimate of the fair value due to their short term.

Financial instruments – classification and valuation

At June 30, 2024, sek m	Assets measured at Assets at fair value amortized cost in profit and loss			Derivatives used for hedging purposes, measured at fair value
		Carrying amount	Measurement level	Carrying amount	Measurement level	Total
Assets in the balance sheet
Derivative instruments	-	62	2	170	2	232
Financial non-current assets	114	49	3	-		163
Accounts receivable	5,740	-		-		5,740
Interest-bearing receivable	1	-		-		1
Cash and cash equivalents	5,141	-		-		5,141
Total	10,996	111		170		11,277

	Liabilities measured at amortized cost	Liabilities at fair value in profit and loss		Derivatives used for hedging purposes, measured at fair value
		Carrying amount	Measurement level	Carrying amount	Measurement level	Total
Liabilities in the balance sheet
Derivative instruments	-	67	2	27	2	94
Interest-bearing non-current liabilities	3,345	214	3	-		3,559
Interest-bearing current liabilities	1,688	-		-		1,688
Lease liabilities according to IFRS 16	1,679	-		-		1,679
Accounts payable	2,425	-		-		2,425
Total	9,137	281		27		9,445

Change in financial liabilities in Level 3

Business combina					Translation differ			Net earnings pertain
sek m	Dec 31 2023	tions	Payments	Discounting effect	Revaluation	ences	Jun 30 2024	ing to liabilities
Contingent consideration	-	222	-	1	-	−9	214	−1

Change in liabilities from financing activities, Group, sek m
				Translation differ
	Dec 31 2024	Cash changes	Acquisitions	ences	Fair value changes	Lease liabilities	Pension liabilities	Jun 30 2025
Loans	5,264	2,481	-	−66	-	-	-	7,679
Other financial liabilities	1,446	1,261	-	−1,347	-	-	-	1,360
Lease liabilities	1,851	−101	-	−141	-	122	-	1,731
Pension obligations	447	20	-	−24	-	-	−40	403
Total	9,008	3,661	-	−1,578	-	122	−40	11,173

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 operational 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 descriptions and calculation of key figures, visit https://www.trelleborg.com/en/investors/key-figures.

sek m	Q2 2025	Q2 2024	6M 2025	6M 2024	R12 2025	12M 2024
Net sales
Trelleborg Industrial Solutions	3,924	3,955	7,814	7,676	15,455	15,317
Trelleborg Medical Solutions	832	665	1,680	1,248	3,435	3,003
Trelleborg Sealing Solutions	4,014	4,349	8,357	8,451	16,576	16,670
Group activities/Eliminations	−219	−258	−434	−430	−824	−820
Continuing operations	8,551	8,711	17,417	16,945	34,642	34,170
EBITA, excluding items affecting comparability
Trelleborg Industrial Solutions	647	643	1,292	1,256	2,479	2,443
Trelleborg Medical Solutions	170	92	341	174	696	529
Trelleborg Sealing Solutions	810	921	1,678	1,785	3,321	3,428
Group activities/Eliminations	−40	−57	−108	−126	−242	−260
Continuing operations	1,587	1,599	3,203	3,089	6,254	6,140
EBITA %, excluding items affecting comparability
Trelleborg Industrial Solutions	16.5	16.3	16.5	16.4	16.0	16.0
Trelleborg Medical Solutions	20.4	13.9	20.3	14.0	20.2	17.6
Trelleborg Sealing Solutions	20.2	21.2	20.1	21.1	20.0	20.6
Continuing operations	18.6	18.4	18.4	18.2	18.1	18.0

Key figures

sek m	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023
Net sales
Trelleborg Industrial Solutions	3,924	3,890	3,980	3,661	3,955	3,721	3,766	3,663	3,980
Trelleborg Medical Solutions	832	848	903	852	665	583	637	645	647
Trelleborg Sealing Solutions	4,014	4,343	4,089	4,130	4,349	4,102	4,026	4,158	4,048
Group activities	-	-	-	-	-	-	178	165	194
Eliminations	−219	−215	−189	−201	−258	−172	−186	−173	−173
Continuing operations	8,551	8,866	8,783	8,442	8,711	8,234	8,421	8,458	8,696
Organic sales, %
Trelleborg Industrial Solutions	2	2	4	2	−1	−3	−1	−1	6
Trelleborg Medical Solutions	−3	5	0	1	2	−11	1	−1	9
Trelleborg Sealing Solutions	−4	0	−1	1	5	−2	1	−2	0
Continuing operations	−1	1	1	1	1	−3	0	−1	3
EBITA, excluding items affecting comparability
Trelleborg Industrial Solutions	647	645	639	548	643	613	586	594	632
Trelleborg Medical Solutions	170	171	190	165	92	82	101	99	100
Trelleborg Sealing Solutions	810	868	817	826	921	864	808	837	901
Group activities	−40	−68	−59	−75	−57	−69	−71	−43	−70
Continuing operations	1,587	1,616	1,587	1,464	1,599	1,490	1,424	1,487	1,563
EBITA %, excluding items affecting comparability
Trelleborg Industrial Solutions	16.5	16.6	16.1	15.0	16.3	16.5	15.6	16.2	15.9
Trelleborg Medical Solutions	20.4	20.2	21.1	19.3	13.9	14.0	15.7	15.5	15.4
Trelleborg Sealing Solutions	20.2	20.0	20.0	20.0	21.2	21.1	20.1	20.1	22.3
Continuing operations	18.6	18.2	18.1	17.3	18.4	18.1	16.9	17.6	18.0

Key figures

Continuing operations	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023
Net sales, sek m	8,551	8,866	8,783	8,442	8,711	8,234	8,421	8,458	8,696
Organic sales, %	−1	1	1	1	1	−3	0	−1	3
EBITDA, excl items affecting comparability, sek m	1,939	1,982	1,944	1,821	1,950	1,834	1,790	1,831	1,891
EBITDA, excl items affecting comparability, %	22.7	22.4	22.1	21.6	22.4	22.2	21.3	21.7	21.7
EBITA, excl items affecting comparability, sek m	1,587	1,616	1,587	1,464	1,599	1,490	1,424	1,487	1,563
EBITA, excl items affecting comparability, %	18.6	18.2	18.1	17.3	18.4	18.1	16.9	17.6	18.0
EBIT, excl items affecting comparability, sek m	1,442	1,462	1,420	1,320	1,483	1,379	1,304	1,361	1,442
EBIT, excl items affecting comparability, %	16.9	16.5	16.2	15.6	17.0	16.8	15.5	16.1	16.6
Items affecting comparability, sek m	−80	−61	−76	−73	−111	−55	−260	−111	−194
EBIT, sek m	1,362	1,401	1,344	1,247	1,372	1,324	1,044	1,250	1,248
Earnings per share, excluding items affecting comparability sek	4.31	4.28	4.24	3.78	4.49	4.23	4.08	4.19	4.71
Operating cash flow, excl items affecting comparability, sek m	1,000	821	1,681	1,419	1,193	718	1,321	1,608	1,585
Cash conversion ratio, excl items affecting comparability, R12, %	87	90	89	85	88	95	92	99	88
Capital employed, closing balance, sek m	46,977	46,803	49,381	46,874	43,815	42,683	39,768	42,622	43,111
Return on capital employed R12, %	11.0	11.2	11.4	11.2	11.5	11.4	11.5	12.0	12.8

Group total	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023
Earnings per share, excl items affecting comparability, sek	4.31	4.28	4.24	3.78	4.49	4.23	4.08	4.19	28.83
Earnings per share, Group, sek	4.03	4.08	3.99	3.54	4.14	4.06	3.40	3.84	27.67
Free cash flow, sek m	581	315	1,083	967	673	194	897	1,075	658
Net debt, closing balance, sek m	−8,937	−6,733	−6,735	−5,381	−1,981	939	2,682	1,871	1,881
Net debt/EBITDA	1.2	0.9	0.9	0.8	0.3	−0.1	−0.2	−0.1	−0.1
Debt/equity ratio %	24	17	16	13	5	−2	−6	−4	−4
Return on equity R12, %1	9.3	9.0	9.0	8.5	8.5	23.7	25.4	26.0	27.2
Equity/assets ratio, %	64	67	69	69	70	72	70	69	68

¹ The return on equity, calculated on a rolling twelve-month basis, was affected up to the first quarter of 2024 by the realized gains from the divestitures of the group's tire and printing blanket operations, which were completed in the second quarter of 2023.

Other financial information

Income Statements by quarter, sek m	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023
Net sales	8,551	8,866	8,783	8,442	8,711	8,234	8,421	8,458	8,696
Cost of goods sold	−5,354	−5,476	−5,640	−5,386	−5,465	−5,239	−5,423	−5,478	−5,687
Gross profit	3,197	3,390	3,143	3,056	3,246	2,995	2,998	2,980	3,009
Selling expenses	−620	−660	−618	−618	−660	−633	−626	−648	−615
Administrative expenses	−845	−893	−922	−821	−835	−801	−820	−766	−763
Research and development costs	−184	−192	−186	−171	−180	−173	−162	−181	−176
Other operating income 1	140	110	221	128	105	142	261	211	212
Other operating expenses 1	−247	−292	−219	−254	−194	−154	−342	−231	−228
Profit from associated companies	1	−1	1	0	1	3	−5	−4	3
EBIT, excluding items affecting comparability	1,442	1,462	1,420	1,320	1,483	1,379	1,304	1,361	1,442
Items affecting comparability	−80	−61	−76	−73	−111	−55	−260	−111	−194
EBIT	1,362	1,401	1,344	1,247	1,372	1,324	1,044	1,250	1,248
Financial income and expenses2	−125	−144	−86	−128	−63	−20	−38	−44	140
Profit before tax	1,237	1,257	1,258	1,119	1,309	1,304	1,006	1,206	1,388
Tax3	−314	−316	−326	−283	−321	−324	−226	−301	−491
Net profit, continuing operations	923	941	932	836	988	980	780	905	897
Net profit, discontinuing operations4	-	-	-	-	-	-	-	-	6,130
Net profit, Group	923	941	932	836	988	980	780	905	7,027
- equity holders of the parent company	923	941	933	836	988	980	780	906	7,027
- non-controlling interest	-	-	-1	0	0	0	0	-1	0

¹ Other operating income and expenses are affected by exchange rate differences reported on a gross basis. Exchange rate differences were reclassified between other operating income and expenses to financial income and expenses for the May-September 2023 period. This reclassification will have no effect on EBIT or financial income and expenses.

² Q2 2023 includes non-recurring financial income of SEK 218 M (SEK 173 M after tax) attributable to concluded interest rate hedges in connection with the divestment of the Group's tire operation.

³ Q2 2023 includes a non-recurring tax expense of SEK 150 M related to a review of the Group's legal structure after the divestment of the Group's tire operation. This tax expense declined by SEK 50 M in Q4 2023.

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

Parent Company

Condensed Income statements, sek m	Q2 2025	Q2 2024	6M 2025	6M 2024	R12 2025	12M 2024
Net sales	147	164	298	308	675	685
Administrative expenses	−70	−72	−147	−148	−390	−391
Other operating income	3	3	6	5	13	12
Other operating expenses	−31	−30	−62	−63	−470	−471
EBIT	49	65	95	102	−172	−165
Financial income and expenses	33	1,605	−66	1,471	20	1,557
Profit before tax	82	1,670	29	1,573	−152	1,392
Appropriations	-3	1	-3	1	514	518
Tax	10	−14	20	16	−74	−78
Net profit	89	1,657	46	1,590	288	1,832
Statements of comprehensive income, sek m
Net profit	89	1,657	46	1,590	288	1,832
Other comprehensive income	-	-	-	-	-	-
Other comprehensive income, net of tax	-	-	-	-	-	-
Total other comprehensive income	89	1,657	46	1,590	288	1,832

Condensed Balance sheets, sek m	Jun 30 2025	Jun 30 2024	Dec 31 2024
Property, plant and equipment	7	8	7
Intangible assets	7	4	4
Financial assets	37,844	37,859	37,844
Total non-current assets	37,858	37,871	37,855
Current receivables	337	2,206	135
Current tax asset	53	23	-
Interest-bearing receivables	-	0	962
Cash and cash equivalents	-	0	-
Total current assets	390	2,229	1,097
Total assets	38,248	40,100	38,952
Equity	19,150	24,277	22,416
Untaxed reserves	223	100	221
Interest-bearing non-current liabilities	-	0	-
Other non-current liabilities	54	58	61
Total non-current liabilities	54	58	61
Interest-bearing current liabilities	18,639	15,468	16,012
Current tax liabilities	-	-	76
Other current liabilities	182	197	166
Total current liabilities	18,821	15,665	16,254
Total equity and liabilities	38,248	40,100	38,952

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 2024 Annual Report.

At the Annual General Meeting, held in April 2025, the decision was taken to introduce a new performance share program, PSP 2025/2027, which includes the President and Group Management, whereby participants invest in Trelleborg AB shares. The participants in the PSP program can invest a maximum of 10 percent of their base salary. Each invested share entitles the holder to receive a maximum of three shares free of charge after the publication of the year-end report for the 2027 fiscal year. Allotment requires compliance with certain performance-based conditions and that the participant remains employed within the Trelleborg Group. For further information, refer to the decision taken at the Annual General Meeting on April 24, 2025. To date, the recognized costs for 2025 are not significant. The resolution on PSP 2024/2026 was passed at the Annual General Meeting on April 24, 2024. For further information, see the resolution from the Annual General Meeting. Recognized costs for 2025 and 2024 are not significant do date.

About Trelleborg

The Trelleborg Group is a world leader in engineered polymer solutions. The Group had sales of approximately sek 34 billion in 2024 and operations in some 40 countries.

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

Engineered solutions

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.

Better platform than ever

Trelleborg's way of achieving results – a strongly decentralized organization built on local responsibility and personal dedication – form the basis of the Group's model for profitability and business success. Despite the turbulence in its operating environment, Trelleborg delivered a strong financial performance in recent years. Trelleborg's financial capacity is healthy.

Accelerated growth

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

The fast-growing industries will act as a driving force for other areas at Trelleborg, which through

innovations, differentiation and greater global reach is expected to grow in the upper range of the industrial average.

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

Sustainability leader in the industry

Trelleborg is working systematically to increase the share of bio-based and recycled raw materials in everything it develops. The ambition is to be the sustainability leader in the industry. The Group's climate target is to halve direct and indirect CO2 emissions by the end of 2030 compared with the base year 2021, and, during the same period, reduce emissions along the value chain by 25 percent. Trelleborg's climate targets were validated by the Science Based Targets initiative (SBTi) in the fourth quarter of 2023. Resource efficiency and circularity are becoming part of Trelleborg's DNA.

Bespoke strategy for each business

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

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

An improved Trelleborg

The technological development and climate transition in society favor the Group, where Trelleborg is playing a part and developing the industrial solutions of tomorrow.

The Group raised both its financial and sustainability targets in conjunction with its Capital Markets Day held in May 2023.

Trelleborg Industries	Diversified industry	Automotive	Healthcare & medical	Aerospace
Trelleborg Industrial Solutions	85%	8%	2%	5%
Trelleborg Medical Solutions	0%	0%	100%	0%
Trelleborg Sealing Solutions	53%	28%	0%	19%
Continuing operations	63%	17%	9%	11%

Net sales per industry is based on full-year 2024.

Board of Directors' assurance

This interim report provides a fair overview of the operations, position and results of the Parent Company and the Group, and describes material risks and uncertainties faced by the Parent Company and the companies that are included in the Group. This report has not been subject to review by the company's auditor.

Trelleborg, July 17, 2025 Board of Directors of Trelleborg AB (publ)

Board member Board member Employee representative Employee representative Employee representative

Anne Mette Olesen Jan Ståhlberg Maria Eriksson Jimmy Faltin Lars Pettersson

Presentation of the report

A combined webcast and telephone conference will be held on July 17, 2025 at 3:00 p.m. CEST. To follow the presentation webcast, either access this link or visit www.trelleborg.com.

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

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

Financial calendar

Interim report July–September 2025	October 24, 2025
Year-end report 2025	January 29, 2026
Interim report January–March 2026	April 23, 2026
Annual General Meeting 2026	April 23, 2026
Interim report April–June 2026	July 16, 2026

For further information

Investors/analysts Media Christofer Sjögren, VP Investor Relations Tobias Rydergren, 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: tobias.rydergren@trelleborg.com

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

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

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 and the Securities Market Act. The information was issued, by the contact person above, for publication on July 17, 2025 at 1:00 p.m. CEST.

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