Report for Q2 2026

Summary

• Revenue was SEK 27,489 (25,631) million
• Operating result was SEK 2,695 (2,140) million, higher prices and higher shipments
• Earnings per share were SEK 2.09 (1.86)
• Net cash was SEK 8.6 (10.9) billion, dividend of SEK 2 billion paid in Q2
• Lost time injury frequency (LTIF) decreased to an all-time low of 0.38 (0.64)
• Conversion of Oxelösund progresses, production start planned for Q2 2027
• Groundwork in Luleå continues after precautionary pauses and the project remains on schedule for production start late 2029
• Investments to increase capacity within SSAB Special Steels communicated in Q2

Comments by the CEO

SSAB’s operating result for the second quarter of 2026 increased to SEK 2,695 (2,140) million. The improvement was mainly related to higher prices and higher shipments, which was partly counteracted by higher cost, including higher cost for logistics and energy as a result of the war in the Persian Gulf.

Despite continued geopolitical uncertainty, we remain focused on executing our strategic priorities, strengthening the premium product offering, and advancing our transformation towards fossil-free steel production. During the quarter, we announced the decision to invest in a new quenching line in Oxelösund to increase the capacity for advanced wear and protection steels, such as Hardox 500Tuf and Armox.

We continue to execute the investments to modern and fossil-free production. The new electric arc furnace is being installed in Oxelösund and the legal process related to the power line was concluded during the second quarter, which means that the construction of the power line can be completed. Production start is planned for the second quarter of 2027.

The Luleå project remains on schedule and within budget, with groundwork resumed after precautionary pauses to secure a safe working environment. The steel production in Luleå continues to operate as normal.

The new trade measures to protect the EU steelmaking sector against global overcapacity entered into force on July 1, 2026 and we expect this to improve the future supply-demand balance in the European market.

During the third quarter, we expect to see a seasonal slowdown in demand and we will carry out planned maintenance at all steel divisions. The implemented price increases will generate somewhat higher prices in the third quarter.

SSAB invites you to a presentation of the Q2 2026 report at 9.30am CEST on Wednesday, July 22, 2026.

The report will be presented by SSAB’s President and CEO Johnny Sjöström, and CFO Leena Craelius.

The press conference will be held in English and live webcast on SSAB’s website www.ssab.com.

Link to webcast: https://edge.media-server.com/mmc/p/4okiatwn

You can also participate in the briefing by telephone. Click on the link below and complete the online registration form. You can choose if you want to dial in or click “Call Me” for a call-back.

Link to teleconference: https://register-conf.media-server.com/register/BIc7ca19afa2c543fa81e0473f7c93ce3a

For further information, please contact:
Helena Norrman, EVP & Head of Group Communications, helena.norrman @ ssab.com, phone: +46 730 66 53 46
Per Hillström, Head of Investor Relations, per.hillstrom @ ssab.com, phone: +46 702 95 29 12

This information is inside information that SSAB AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and information that SSAB AB (publ) is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 7.30am CEST on July 22, 2026.

SSAB is a global leader in premium steels, shaping a stronger, lighter, and more sustainable world. With high-strength and advanced steels, pioneering decarbonized offerings, and value-add services, we deliver unique customer value and accelerate customer competitiveness worldwide. A steelmaker since 1878, our teams in more than 50 countries set the standard for industry‑leading performance. SSAB operates steel mills in Sweden, Finland, and the United States and is leading the transformation of the industry - dramatically reducing emissions from our own production. SSAB shares are listed on Nasdaq Stockholm, with a secondary listing on Nasdaq Helsinki.

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