Aktieselskabet Schouw & Co.

Interim report – second quarter of 2026

Today, Schouw & Co. released its interim report for the second quarter of 2026; Schouw & Co. delivered a strong performance in Q2 2026, with higher activity levels, productivity improvements, and operational optimisation initiatives supporting significant earnings growth.

Highlights

• DKK 9.0bn revenue – a 5% increase
• DKK 828m EBITDA – a 17% increase
• 47.3k tonnes Scope 1+2 CO2e emissions – a 12% reduction
• DKK 410m cash flow from operations – a 24% decrease
• DKK 14.19 earnings per share – a 39% improvement
• 14.1% ROIC excluding goodwill – a 1.6 pp improvement
• Full-year revenue and EBITDA guidance raised.

Statement by Jens Bjerg Sørensen, President of Schouw & Co.
– Schouw & Co. delivered a strong Q2 2026 performance, with earnings growth driven by higher activity levels, operational improvements, and continued productivity initiatives across our portfolio businesses. EBITDA increased significantly, demonstrating that the measures implemented in recent years are translating into stronger profitability and continued margin expansion. We therefore enter the second half of the year with increased confidence and have raised our full-year guidance.

2026 to date has been marked by strategically important events. The IPO of BioMar was a key milestone for Schouw & Co., reflecting our long-standing approach to active ownership and value creation. The listing provides BioMar with a strong platform for future growth and has strengthened the financial flexibility of Schouw & Co. In addition, we have entered into an agree­ment to acquire Spectre, adding a new platform business with an attractive market position and strong growth prospects. Together, these trans­actions demonstrate that we continue to execute our strategy and allocate capital in accordance with our long-term ownership model.

Schouw & Co.’s diversified portfolio continues to provide resilience, while our portfolio compa­nies remain focused on strengthening compet­itiveness, improving operations and creating long-term value. Although uncertainty persists in parts of the global economy, we are seeing encouraging progress across the Group and expect a continued positive performance during the remainder of 2026.

Video conference call (in English) in relation to the interim report

• Friday, 14 August 2026 at 10:00 CEST

Please attend via this link: www.schouw.com/cc

Aktieselskabet Schouw & Co.

Jørgen Wisborg, Chairman of the Board of Directors

Jens Bjerg Sørensen, President & CEO, telephone no. +45 86 11 22 22

Attachment

• SchouwCo 2026Q2 ENG