Atlas Copco : Quarterly Report Q4 2025 (20260127 en q4 2025 et)

Press release from Atlas Copco AB

January 27, 2026

Atlas Copco Group

Interim report on Q4 and full-year summary 2025

Organic order growth, solid revenues and cash flow

The comparison figures presented in this report refer to previous year unless otherwise stated.

Fourth quarter

• Orders received reached MSEK 38 606 (39 725), organic increase of 4%

• Revenues decreased 7% to MSEK 42 782 (45 988), organically unchanged

• Adjusted operating profit, excluding items affecting comparability, was MSEK 8 772 (10 029), corresponding to a margin of 20.5% (21.8)

  - Reported operating profit decreased 15% to MSEK 8 470 (10 018), corresponding to a margin of 19.8% (21.8)

• Profit before tax amounted to MSEK 8 338 (9 981)

• Basic earnings per share were SEK 1.36 (1.60)

• Operating cash flow at MSEK 6 777 (9 915)

• Return on capital employed was 24% (28)

• The Board of directors proposes:

- An ordinary dividend for 2025 of SEK 3.00 (3.00) per share, and an extra distribution of SEK 2.00 per share, resulting in a total combined dividend of SEK 5.00 per share to be paid in two equal installments

October-December January-December

MSEK 2025 2024 2025 2024

Orders received	38 606	39 725	-3%	165 814	171 115	-3%
Revenues	42 782	45 988	-7%	168 343	176 771	-5%
EBITA*	9 152	10 616	-14%	36 548	40 489	-10%
- as a percentage of revenues	21.4	23.1		21.7	22.9
Operating profit	8 470	10 018	-15%	34 114	38 166	-11%
- as a percentage of revenues	19.8	21.8		20.3	21.6
Profit before tax	8 338	9 981	-16%	33 671	37 800	-11%
- as a percentage of revenues	19.5	21.7		20.0	21.4
Profit for the period	6 627	7 800	-15%	26 425	29 794	-11%
Basic earnings per share, SEK	1.36	1.60		5.43	6.11
Diluted earnings per share, SEK	1.36	1.60		5.42	6.10
Return on capital employed, %	24	28

*Operating profit excluding amortization and impairment of intangibles related to acquisitions.

Near-term outlook

Atlas Copco Group expects that the customer activity will remain at the current level.

Previous near-term outlook (published October 23, 2025):

Atlas Copco Group expects that the customer activity will remain at the current level.

Quarterly and annual financial data in Excel format can be found on our Reports and presentations page.

Atlas Copco Group

Atlas Copco AB Visitors address: Telephone: [phone] A Public Company (publ)

SE-105 23 Stockholm Sweden

Sickla Industriväg 19 Nacka

https://www.atlascopcogroup.com Reg. No. 556014-2720 Reg. Office Nacka

Summary of full-year 2025

Orders and revenues

Orders received in 2025 reached MSEK 165 814 (171 115), with a negative currency effect of 6%. Organically the order intake increased 1%. Acquisitions added 2%. Revenues reached MSEK 168 343 (176 771), corresponding to an organic decline of 1%.

Currency had a negative effect of 6%, while acquisitions added 2%.

Sales bridge

January-December

MSEK	Orders received	Revenues
2024	171 115	176 771
Structural change, %	+2	+2
Currency, %	-6	-6
Organic*, %	+1	-1
Total, %	-3	-5
2025	165 814	168 343
*Volume, price and mix.

Orders, revenues, and operating profit margin

negative effect of MSEK -3 400 on the operating profit and approximately a 0.6 percentage point negative effect on the operating margin.

Profit before tax amounted to MSEK 33 671 (37 800), corresponding to a margin of 20.0% (21.4). Income tax expense amounted to MSEK 7 246 (8 006), corresponding to an effective

tax rate of 21.5% (21.2).

Profit for the period was MSEK 26 425 (29 794). Basic and diluted earnings per share were SEK 5.43 (6.11) and SEK 5.42 (6.10), respectively.

Operating cash flow (important internal KPI, but not an IFRS measurement, and hence reconciled on page 14) before acquisitions, divestments and dividends reached MSEK 26 796 (30 981).

Dividend

The Board of Directors proposes to the Annual General Meeting 2026 an ordinary dividend of SEK 3.00 (3.00) per share for the 2025 fiscal year, and an additional distribution of SEK 2.00 per

200 000

180 000

160 000

140 000

120 000

100 000

80 000

60 000

40 000

20 000

0

2016* 2017 2018 2019 2020 2021 2022 2023 2024 2025

Orders received, MSEK Revenues, MSEK

50%

45%

40%

35%

30%

25%

20%

15%

10%

5%

0%

share resulting in a total combined dividend of SEK 5.00 per share.

This corresponds to a total capital distribution of MSEK 24 353 (14 606) to shareholders, and excludes shares currently held by the company.

To facilitate a more efficient cash management, the total combined dividend is proposed to be paid in two equal installments of SEK 2.50 each, the first with record date April 30, 2026, and the second with record date October 20, 2026.

Personnel stock option program

The Board of Directors will propose to the Annual General Meeting a similar performance-based long-term incentive program as in the previous years. For Group Management and division presidents, participation in the plan will require own investment in Atlas Copco AB shares. The details of the proposal will be communicated in connection with the Notice of the Annual General Meeting.

Operating margin, % Adjusted operating margin, %

* 2016 figures are best estimated numbers, as the effects of the split of the Group and restatements for IFRS 15 are not fully reconciled.

Results and cash flow

Operating profit decreased 11% to MSEK 34 114 (38 166), corresponding to a margin of 20.3% (21.6). Items affecting comparability amounted to MSEK -800 (-575), whereof the change in provision for share-related long-term incentive programs, reported in Common Group Items was MSEK -102 (-268). Other items affecting comparability includes restructuring costs of total MSEK -698 in the business areas Vacuum Technique and Industrial Technique. Adjusted operating profit decreased 10% to MSEK

34 914 (38 741) corresponding to a margin of 20.7% (21.9). Changes in exchange rates compared with the previous year had a

Review of the fourth quarter

Market development

The overall demand for Atlas Copco Group's equipment and services increased compared to the previous year. Order volumes for both service and equipment increased, even if the demand for equipment was mixed.

Orders for industrial compressors increased, and solid order growth was achieved for gas and process compressors. The order intake for vacuum equipment increased notably, supported by increased demand from both the semiconductor and the general industries. Orders for industrial assembly equipment and vision solutions, on the other hand, decreased somewhat due to weaker demand from the automotive industry. The order intake for power equipment, such as portable compressors, generators, and pumps, weakened.

Sales bridge

October-December

MSEK	Orders received	Revenues
2024	39 725	45 988
Structural change, %	+4	+4
Currency, %	-11	-11
Organic*, %	+4	+0
Total, %	-3	-7
2025	38 606	42 782
*Volume, price and mix.

Orders, revenues, and operating profit margin

Sequentially, and compared to the previous quarter, the customers' overall activity level remained stable. However, order volumes for industrial compressors, industrial assembly solutions, and power equipment decreased, while orders for service, vacuum equipment, and gas and process compressors increased.

Year-on-year, the Group's order intake increased in North

America, Europe, and Asia.

50 000

45 000

40 000

35 000

30 000

25 000

50%

45%

40%

35%

30%

25%

20 000 20%

Geographic distribution of orders received

Atlas Copco Group

October-December 2025 Orders received, % Change*, % North America 27 +8

South America 5 -1

Europe 29 +10

Africa/Middle East 5 -4

Asia/Oceania 34 +13

15 000

10 000

5 000

0

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

2022 2023 2024 2025

Orders received, MSEK

Revenues, MSEK

15%

10%

5%

0%

Atlas Copco Group 100 +8

*Change in orders received compared to the previous year in local currency.

Operating margin, % Adjusted operating margin, %

Geographic distribution of orders received and revenues

Compressor Technique, %			Vacuum Technique, %		Industrial Technique, %		Power Technique, %		Atlas Copco Group, %
October-December	Orders		Orders		Orders		Orders		Orders
2025	received	Revenues	received	Revenues	received	Revenues	received	Revenues	received	Revenues
North America	27	24	21	18	35	33	27	31	27	25
South America	6	6	0	1	3	5	7	7	5	5
Europe	31	32	16	15	36	35	36	34	29	29
Africa/Middle East	8	9	1	1	2	2	8	8	5	6
Asia/Oceania	28	29	62	65	24	25	22	20	34	35
	100	100	100	100	100	100	100	100	100	100

Revenues, profits and returns

Revenues reached MSEK 42 782 (45 988), organically unchanged.

Currency had a negative effect of 11%, while acquisitions added 4%.

The operating profit was MSEK 8 470 (10 018) and includes a change in provision for share-related long-term incentive programs (LTI), reported in Common Group Items, of MSEK -41 (+30). Other items affecting comparability were restructuring costs in the Industrial Technique business area of MSEK -261. Apart from LTI related change of provisions, previous year included items affecting comparability of MSEK -41 in total.

Adjusted operating profit decreased 13% to MSEK 8 772

(10 029), corresponding to a margin of 20.5% (21.8). The main reasons for the lower margin were a strong negative currency effect, and to a lesser extent, increased costs related to trade tariffs and dilution from acquisitions.

Net financial items amounted to MSEK -132 (-37) whereof interest net at MSEK -95 (-55). Other financial items, including financial exchange differences, were MSEK -37 (18). Profit before tax amounted to MSEK 8 338 (9 981), corresponding to a margin of

19.5% (21.7). Corporate income tax amounted to MSEK -1 711

(-2 181), corresponding to an effective tax rate of 20.5% (21.9). The lower effective tax rate is mainly due to utilization of R&D and similar tax benefits. Profit for the period was MSEK 6 627 (7 800). Basic and diluted earnings per share were SEK 1.36 (1.60) and SEK

1.36 (1.60), respectively.

The return on capital employed during the last 12 months was 24% (28). Return on equity was 24% (29). The Group uses a weighted average cost of capital (WACC) of 8.0% as an investment and overall performance benchmark.

Operating cash flow and investments

Operating cash surplus decreased to MSEK 10 951 (12 105). Net

financial items and taxes paid amounted to MSEK -2 543 (-1 867). Working capital decreased by MSEK 649 (decrease of 2 305). The main reason for the difference compared to the previous year was a smaller decrease of inventories. Net investments in rental equipment were MSEK -497 (-596), and in property, plant and equipment MSEK -1 038 (-1 067).

Operating cash flow (an important internal KPI, but not a measurement defined in IFRS Accounting Standards, and hence defined on page 14) reached MSEK 6 777 (9 915).

Net indebtedness

The Group's net indebtedness amounted to MSEK 20 665 (18 102),

of which MSEK 1 883 (2 740) was attributable to post-employment benefits. The Group's interest-bearing liabilities have an average maturity of 4.6 years. The net debt/EBITDA ratio was 0.5 (0.4) and the net debt/equity ratio was 19% (16).

Acquisition and divestment of own shares

During the quarter, 1 292 011 series A shares, net, were sold for a net value of MSEK 213. These transactions are in accordance with mandates granted by the Annual General Meeting and relate to the Group's long-term incentive programs. See page 18.

Employees

On December 31, 2025, the number of employees was 56 413 (55 146). The number of consultants/external workforce was 3 077 (3 001). For comparable units, the total workforce

decreased by 642 from December 31, 2024.

Revenues and operating profit - bridge

MSEK	Q4 2025	Volume, price, mix and other	Currency	Acquisitions	Items affecting comparability	Share-based LTI* programs	Q4 2024
Atlas Copco Group Revenues	42 782	-156	-4 870	1 820			45 988
Operating profit	8 470	278	-1 705	170	-220	-71	10 018
	19.8%						21.8%
*LTI= Long term incentive

Compressor Technique

October-December January-December

MSEK 2025 2024 2025 2024

Orders received	17 993	18 103	-1%	77 100	79 976	-4%
Revenues	19 540	20 382	-4%	77 140	78 259	-1%
EBITA*	4 920	5 246	-6%	19 696	20 302	-3%
- as a percentage of revenues	25.2	25.7		25.5	25.9
Operating profit	4 752	5 110	-7%	19 083	19 716	-3%
- as a percentage of revenues	24.3	25.1		24.7	25.2
Return on capital employed, %	78	85

*Operating profit excluding amortization and impairment of intangibles related to acquisitions.

• Equipment order growth driven by gas and process compressors

• Growth for service

• Operating profit margin at 24.3%

  Sales bridge

  MSEK	Orders received	Revenues	-
  2024	18 103	20 382
  Structural change, % Currency, %	+3 -11	+4 -11	- -
  Organic*, %	+7	+3
  Total, %	-1	-4	-
  2025	17 993	19 540

  October-December

  *Volume, price and mix.

  Industrial compressors

  The demand for industrial compressors increased somewhat compared to the previous year. Order volumes for large-sized compressors developed more favorably than for smaller ones, compared to a relatively weak quarter for larger compressors previous year. Sequentially, the order intake decreased.

  Geographically, compared to the previous year, orders increased in all major regions.

  Gas and process compressors

  Order volumes for gas and process compressors increased significantly compared to the previous year, driven by increased demand from several different customer segments.

  Geographically, strong order growth was achieved in Asia,

  Acquisitions

  The following acquisitions were closed in the quarter: SUTO iTEC, a compressed air and gas measurement company headquartered in China with 136 employees, and revenues of approximately MSEK 176 in 2024.

  RM Boggs Inc., a US based distributor with 3 employees

  Northern Compressed Air Ltd., a distributor of compressed air systems and service in the UK with 15 employees.

  MKG Equipamentos Ltda., a manufacturer of industrial process filtrations in Brazil with 30 employees and revenues of about MSEK 90 in 2024.

  • Engineering Automation Systems GmbH, an engineering process automation company in Germany with 18 employees and revenues of approximately MSEK 30 in 2024.

  • Anglian Compressors and Equipment Ltd., a UK compressor distributor with 28 employees.

  Revenues and profitability

  Revenues decreased 4% to MSEK 19 540 (20 382), corresponding to an organic increase of 3%.

  The operating profit decreased 7% to MSEK 4 752 (5 110), corresponding to a margin of 24.3% (25.1), negatively affected by acquisitions, sales mix, and increased costs related to trade tariffs. Currency had no material effect on the operating margin. Return on capital employed (last 12 months) was 78% (85).

  Orders, revenues, and operating profit margin

  while the orders in North America were unchanged and decreased in Europe and Africa/Middle East.

  Compressor service

  The demand for service remained good, and solid order growth was achieved in most regions.

  25 000

  22 500

  20 000

  17 500

  15 000

  50%

  45%

  40%

  35%

  30%

  Innovation

  A new nitrogen generator design for laser cutting applications, the LCN2, was introduced. The new product is compact and enables customers to produce nitrogen efficiently on-site. Supported by integrated filtration and a built-in booster, the generator ensures the right nitrogen purity, quality, flow, and pressure for various specific laser cutting applications.

  12 500

  10 000

  7 500

  5 000

  2 500

  0

  Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2022 2023 2024 2025

  25%

  20%

  15%

  10%

  5%

  0%

  Orders received, MSEK Revenues, MSEK Operating margin, %
  
  

  Vacuum Technique

  October-December January-December

  MSEK 2025 2024 2025 2024

  Orders received	8 801	8 635	2%	36 156	36 629	-1%
  Revenues	9 025	10 189	-11%	36 727	40 441	-9%
  EBITA*	1 938	2 590	-25%	7 551	9 316	-19%
  - as a percentage of revenues	21.5	25.4		20.6	23.0
  Operating profit	1 730	2 381	-27%	6 765	8 541	-21%
  - as a percentage of revenues	19.2	23.4		18.4	21.1
  Return on capital employed, %	17	20

  *Operating profit excluding amortization and impairment of intangibles related to acquisitions.

• Equipment order growth

• Growth for service

• Operating profit margin at 19.2%

  Sales bridge

  October-December

  MSEK	Orders received	Revenues
  2024	8 635	10 189
  Structural change, %	+2	+3
  Currency, %	-13	-11
  Organic*, %	+13	-3
  Total, %	+2	-11
  2025	8 801	9 025
  *Volume, price and mix.

  Semiconductor and flat panel display equipment Revenues and profitability

  Revenues decreased 11% to MSEK 9 025 (10 189), corresponding to an organic decline of 3%.

  The operating profit reached MSEK 1 730 (2 381). Previous year included items affecting comparability of MSEK +222. The operating profit margin was 19.2% (23.4, adjusted 21.2). The main reason for the lower margin was a negative currency effect, although dilution from recent acquisitions also affected the margin negatively. Return on capital employed (last 12 months) was 17% (20).

  Orders, revenues, and operating profit margin

  The order intake for vacuum equipment to the semiconductor and flat panel display industry increased notably compared to the previous year's relatively low level. Compared to the previous quarter, the order intake also increased.

  Geographically, compared to the previous year, order volumes increased in Europe, Asia and North America.

  Industrial and scientific vacuum equipment

  The overall demand for industrial and scientific vacuum equipment improved, and solid order growth was achieved from both general industrial customers and scientific vacuum applications. Sequentially, the order intake remained basically unchanged.

  Year-on-year, the order intake increased in Asia and Europe, while remaining essentially unchanged in North America.

  12 000

  11 000

  10 000

  9 000

  8 000

  7 000

  6 000

  5 000

  4 000

  3 000

  2 000

  1 000

  0

  Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

  2022 2023 2024 2025

  60%

  55%

  50%

  45%

  40%

  35%

  30%

  25%

  20%

  15%

  10%

  5%

  0%

  Vacuum service

  The demand for service from the semiconductor industry and general industrial customers increased. Order volumes increased in all major regions, particularly in Asia.

  Innovation

  The business area introduced a new product for semiconductor production processes that require higher throughput and lower pressures, the Vertical Mechanical Booster. The new product is packaged vertically to minimize floor space requirements. Unlike other solutions, this compact form enables close proximity to the process tool, maximizing performance in the vacuum chamber.

  Orders received, MSEK Revenues, MSEK
  
  

  Operating margin, % Adjusted operating margin, %

  Industrial Technique

  October-December January-December

  MSEK 2025 2024 2025 2024

  Orders received	5 564	6 288	-12%	25 587	27 656	-7%
  Revenues	6 808	7 705	-12%	26 384	29 522	-11%
  EBITA*	1 196	1 612	-26%	5 149	6 574	-22%
  - as a percentage of revenues	17.6	20.9		19.5	22.3
  Operating profit	1 084	1 496	-28%	4 692	6 066	-23%
  - as a percentage of revenues	15.9	19.4		17.8	20.5
  Return on capital employed, %	17	21

  *Operating profit excluding amortization and impairment of intangibles related to acquisitions.

• Equipment orders down due to weaker demand from the automotive industry

• Service orders essentially unchanged

• Operating profit margin at 15.9% - adjusted operating margin 19.8%

Sales bridge

October-December

MSEK	Orders received	Revenues
2024	6 288	7 705
Structural change, %	+0	+1
Currency, %	-11	-10
Organic*, %	-1	-3
Total, %	-12	-12
2025	5 564	6 808
*Volume, price and mix.

Automotive industry

The order intake for industrial assembly and vision solutions to the

Revenues and profitability

Revenues decreased 12% to MSEK 6 808 (7 705), corresponding to an organic decline of 3%.

The operating profit reached MSEK 1 084 (1 496) and includes items affecting comparability of MSEK- 261, attributed to restructuring costs mainly in Germany. Previous year included restructuring costs of MSEK -134. The adjusted operating profit margin reached 19.8% (21.2). The lower margin was mainly due to a negative currency effect, increased costs related to trade tariffs, and to a lesser extent dilution from acquisitions. Return on capital employed (last 12 months) was 17% (21).

Orders, revenues, and operating profit margin

automotive industry decreased, both compared to the previous year and sequentially.

Geographically, compared to the previous year, orders decreased in North America and Asia, but remained basically unchanged in Europe.

10 000

9 000

8 000

7 000

50%

45%

40%

35%

General industry

Order volumes for industrial power tools, assembly equipment, and vision solutions to the general industry increased compared to the previous year and sequentially. The year-on-year order growth was supported by increased demand from the aerospace, electronics, and off-highway industries.

Compared to the previous year, orders increased in the Americas, remained basically unchanged in Asia, but decreased in Europe.

Service

Orders for service remained at about the same level as in the

6 000

5 000

4 000

3 000

2 000

1 000

0

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2022 2023 2024 2025

Orders received, MSEK

Revenues, MSEK

30%

25%

20%

15%

10%

5%

0%

previous year.

Innovation

A new automatic robot guidance solution was introduced in the quarter, the Desoutter ARG. The new 3D vision system is designed to transform tightening and drilling operations on customers' production lines. Supported by adaptive vision and advanced multi-type detection capability, the new product offers improved repeatability and increased flexibility in automation in customers' production.

Operating margin, % Adjusted operating margin, %

Power Technique

October-December January-December

MSEK 2025 2024 2025 2024

Orders received	6 440	6 886	-6%	27 846	27 866	-0%
Revenues	7 628	7 957	-4%	28 972	29 622	-2%
EBITA*	1 416	1 553	-9%	5 420	5 943	-9%
- as a percentage of revenues	18.6	19.5		18.7	20.1
Operating profit	1 223	1 415	-14%	4 842	5 488	-12%
- as a percentage of revenues	16.0	17.8		16.7	18.5
Return on capital employed, %	14	18

*Operating profit excluding amortization and impairment of intangibles related to acquisitions.

• Decreased order intake for equipment

• Somewhat lower demand for specialty rental, while service demand increased

• Operating profit margin at 16.0%

Sales bridge

October-December

MSEK	Orders received	Revenues
2024	6 886	7 957
Structural change, %	+10	+9
Currency, %	-10	-9
Organic*, %	-6	-4
Total, %	-6	-4
2025	6 440	7 628
*Volume, price and mix.

Equipment

The overall demand for equipment such as portable compressors, generators, and pumps weakened, and the order intake decreased compared to the previous year and sequentially. The lower order volumes compared to the previous year were mainly due to lower order intake for portable compressors and industrial pumps.

Year-on-year, the order intake decreased in all regions except Europe, where the order intake increased.

Specialty rental Acquisitions

The following acquisitions were closed in the quarter:

• CRI-MAN S.p.A., an Italian industrial pump manufacturer with 85 employees and revenues of approximately MSEK 342 in 2024.

• National Tank & Equipment, LLC, an American specialty rental company with 349 employees and revenues of approximately BSEK 2.1 in 2024.

Revenues and profitability

Revenues reached MSEK 7 628 (7 957), corresponding to an organic decrease of 4%.

The operating profit decreased 14% to MSEK 1 223 (1 415), corresponding to a margin of 16.0% (17.8). The main explanations for the lower margin were a negative currency effect, lower utilization of the rental fleet, higher functional costs in relation to sales, and increased costs related to trade tariffs. Acquisitions only had a marginal dilutive effect on the margin. Return on capital employed (last 12 months) was 14% (18).

Orders, revenues, and operating profit margin

The demand for the specialty rental business decreased somewhat compared to the previous year, but due to contributions from acquisitions, the order intake increased significantly. Sequentially, the organic orders remained unchanged.

Geographically, compared to the previous year, the order intake increased in the Americas but decreased in Europe and Asia.

Service

Orders for service increased, driven by increased demand in most regions.

Innovation

A new range of portable chopper pumps was introduced, the PAX F44 & PAX F66. These pumps are designed to withstand demanding applications and deliver high pumping efficiency

10 000

9 000

8 000

7 000

6 000

5 000

4 000

3 000

2 000

1 000

0

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2022 2023 2024 2025

50%

45%

40%

35%

30%

25%

20%

15%

10%

5%

0%

across segments such as construction, municipal, and general dewatering. Thanks to their chopper design and large solids handling capacity up to 4", they are ideal for pumping sewage, sludge, and agricultural slurries.

Orders received, MSEK Revenues, MSEK Operating margin, %

Accounting principles

The interim condensed consolidated financial statements presented in this interim report have been prepared in accordance with IAS 34 Interim Financial Reporting. The description of the accounting principles and definitions applied in this report are found in the Annual Report 2024.

Other financial measures than the ones defined in IFRS Accounting Standards are also presented in the report since they are considered to be important supplemental measures of the company´s performance. For further information about these measures and how they have been calculated, please visit our Key financials page.

Risks, risk management and factors of uncertainty

Atlas Copco Group's global and diversified business is active within many customer segments and results in a variety of risks and opportunities geographically and operationally. Thus, the ability to identify, analyze and manage risks is crucial for effective governance and control of the

business. The aim is to meet the Group's goals with a high awareness of risks and well-managed risk taking. Atlas Copco Group sees the benefits of an efficient risk management both from risk reduction and business opportunity perspectives, which can lead to good business growth.

Risks in Atlas Copco Group are identified in a 360-degree spectrum, meaning that both internal, and external exposures are assessed, including today's circumstances and future changes. The Group's risk management approach follows the decentralized structure of Atlas Copco Group. Risks are analyzed and addressed in an integrated way. Local companies are responsible for their own risk management, which is monitored and followed up regularly at for example local business board meetings. Group functions responsible for legal, insurance, human resources, compliance, sustainability, treasury, tax, controlling and accounting provide policies, guidelines and instructions regarding risk management.

Risk areas include compliance risks, external exposure risks, including pandemics, operational risks and strategic risks. These risk areas can impact the business negatively both in the long and short term, but often also create business opportunities if managed well. Examples of risks and how they are handled is described below.

Market risks

The demand for Atlas Copco Group's equipment and services is affected by changes in the customers' investment and production levels. A general economic downturn, geopolitical tensions, pandemics, changes in trade

agreements, trade sanctions, tariffs, a widespread financial crisis and other macroeconomic disturbances may, directly or indirectly, affect the Group negatively both in terms of revenues and profitability. However, the Group's sales are well diversified with customers in many industries and countries around the world, which mitigates the risk.

Financial risks

Atlas Copco Group is subject to currency risks, funding risks, interest rate risks, tax risks, and other financial risks. In line with the overall goals with respect to growth, return on capital, and protecting creditors, Atlas Copco Group has adopted a policy to control the financial risks to which the Group is exposed. A financial risk management committee meets regularly to manage and follow up financial risks, in line with the policy.

Production risks

A large part of the components used in production are sourced from sub-suppliers. The availability is dependent on the sub-suppliers and if they have interruptions or lack capacity, this may adversely affect production. To minimize these risks, Atlas Copco Group has established a global network of sub-suppliers, which means that in most cases there are more than one sub-supplier that can provide a certain component. Atlas Copco Group is also directly and indirectly exposed to raw material prices. Cost increases for raw materials and components often coincide with strong end-customer demand and can partly be compensated for by increased sales prices.

Acquisitions

Atlas Copco Group has the ambition to grow all its business areas, primarily through organic growth, supplemented by selected acquisitions. The integration of acquired businesses is a difficult process and it is not certain that every integration will be successful. Therefore, costs related to acquisitions can be higher and/or synergies can take longer to materialize than anticipated.

For more information on Atlas Copco Group's risk management process and further descriptions of risks and how they are handled, see the Annual Report 2024.

Forward-looking statements

Some statements in this report are forward-looking, and the actual outcome could be materially different. In addition to the factors explicitly discussed, other factors could have a material effect on the actual outcome. Such factors include, but are not limited to, general business conditions, fluctuations in exchange rates and interest rates, political developments, the impact of competing products and their pricing, product development, commercialization and technological difficulties, interruptions in supply, and major customer credit losses.

Atlas Copco AB

Atlas Copco AB is a public company. Atlas Copco AB and its subsidiaries are often referred to as Atlas Copco Group, the Group or the company. Any mentioning of the Board of Directors or the Board refers to the Board of Directors of Atlas Copco AB.

Consolidated income statement (condensed)

October-December January-December

MSEK 2025 2024 2025 2024

Revenues Cost of sales	42 782 -24 801	45 988 -26 918	168 343 -96 131	176 771 -101 027
Gross profit	17 981	19 070	72 212	75 744
Marketing expenses	-5 130	-5 331	-19 981	-20 349
Administrative expenses	-2 652	-2 778	-10 424	-10 753
Research and development costs	-1 827	-1 737	-7 067	-7 065
Other operating income and expenses	98	794	-626	589
Operating profit	8 470	10 018	34 114	38 166
- as a percentage of revenues	19.8%	21.8%	20.3%	21.6%
Net financial items	-132	-37	-443	-366
Profit before tax	8 338	9 981	33 671	37 800
- as a percentage of revenues	19.5%	21.7%	20.0%	21.4%
Income tax expense	-1 711	-2 181	-7 246	-8 006
Profit for the period	6 627	7 800	26 425	29 794
Profit attributable to
- owners of the parent	6 623	7 798	26 420	29 782
- non-controlling interests	4	2	5	12
Basic earnings per share, SEK	1.36	1.60	5.43	6.11
Diluted earnings per share, SEK	1.36	1.60	5.42	6.10
Basic weighted average number of shares outstanding, millions	4 869.7	4 874.2	4 868.8	4 873.6
Diluted weighted average number of shares outstanding, millions	4 873.3	4 881.3	4 873.0	4 881.7
Key ratios
Equity per share, period end, SEK	23	23
Return on capital employed, 12 month values, %	24	28
Return on equity, 12 month values, %	24	29
Debt/equity ratio, period end, %	19	16
Equity/assets ratio, period end, %	55	55
Number of employees, period end	56 413	55 146

Consolidated statement of comprehensive income (condensed)

October-December January-December

MSEK 2025 2024 2025 2024

Profit for the period Other comprehensive income Items that will not be reclassified to profit or loss Remeasurements of defined benefit pension plans Income tax relating to items that will not be reclassified	6 627 -152 28	7 800 -201 67	26 425 333 -99	29 794 218 -57
	-124	-134	234	161
Items that may be reclassified subsequently to profit or loss
Translation differences on foreign operations	-3 176	4 739	-15 865	6 558
Hedge of net investments in foreign operations	308	-277	974	-603
Income tax relating to items that may be reclassified	-118	93	-327	203
	-2 986	4 555	-15 218	6 158
Other comprehensive income for the period, net of tax	-3 110	4 421	-14 984	6 319
Total comprehensive income for the period	3 517	12 221	11 441	36 113
Total comprehensive income attributable to
- owners of the parent	3 515	12 217	11 446	36 098
- non-controlling interests	2	4	-5	15

Consolidated balance sheet (condensed)

MSEK Dec. 31 2025 Dec. 31 2024

Intangible assets	77 078	77 107
Rental equipment	7 811	5 947
Other property, plant and equipment	18 349	17 745
Right-of-use assets	7 345	7 133
Financial assets and other receivables	2 596	2 520
Deferred tax assets	2 257	2 575
Total non-current assets	115 436	113 027
Inventories	26 659	29 012
Trade and other receivables	44 042	47 097
Other financial assets	606	434
Cash and cash equivalents	15 523	18 968
Assets classified as held for sale	188	-
Total current assets	87 018	95 511
TOTAL ASSETS	202 454	208 538
Equity attributable to owners of the parent	110 206	113 700
Non-controlling interests	177	60
TOTAL EQUITY	110 383	113 760
Borrowings	28 428	31 688
Post-employment benefits	1 883	2 740
Other liabilities and provisions	2 814	2 319
Deferred tax liabilities	2 940	2 616
Total non-current liabilities	36 065	39 363
Borrowings	6 471	3 076
Trade payables and other liabilities	47 183	49 590
Provisions	2 352	2 749
Total current liabilities	56 006	55 415
TOTAL EQUITY AND LIABILITIES	202 454	208 538

Fair value of derivatives, cash equivalents and borrowings

The carrying value and fair value of the Group's outstanding derivatives, liquidity funds, and borrowings are shown in the tables below. The fair values of bonds are based on Level 1, the fair values of derivatives, liquidity funds, and other loans are based on Level 2, and contingent considerations are based on Level 3 in the fair value hierarchy. Compared to 2024, no transfers have been made between different levels in the fair value hierarchy for derivatives and borrowings, and no significant changes have been made to valuation techniques, inputs, or assumptions. For further information, see Note 26 in the Annual Report 2024.

Financial instruments recorded at fair value

MSEK Dec. 31 2025 Dec. 31 2024

Non-current assets and liabilities
Assets	118	68
Liabilities	98	-
Current assets and liabilities
Assets	433	437
Liabilities	191	94

Carrying value and fair value of borrowings

MSEK Dec. 31 2025 Dec. 31 2025 Dec. 31 2024 Dec. 31 2024

Bonds Other loans Lease liability	Carrying value 15 163 12 361 7 375	Fair value 14 261 12 386 7 375	Carrying value 14 840 12 770 7 154	Fair value 13 520 12 738 7 154
	34 899	34 022	34 764	33 412

Consolidated statement of changes in equity (condensed)

MSEK	owners of the parent	non-controlling interests	Total equity
Opening balance, January 1, 2025	113 700	60	113 760
Changes in equity for the period
Total comprehensive income for the period	11 446	-5	11 441
Dividend	-14 606	-4	-14 610
Change of non-controlling interests	-	126	126
Acquisition and divestment of own shares	-84	-	-84
Share-based payments, equity settled	-250	-	-250
Closing balance, December 31, 2025	110 206	177	110 383

Equity attributable to

Equity attributable to

MSEK	owners of the parent	non-controlling interests	Total equity
Opening balance, January 1, 2024	91 450	50	91 500
Changes in equity for the period
Total comprehensive income for the period	36 098	15	36 113
Dividend	-13 647	-5	-13 652
Change of non-controlling interests	-8	-	-8
Acquisition and divestment of own shares	45	-	45
Share-based payments, equity settled	-238	-	-238
Closing balance, December 31, 2024	113 700	60	113 760

Consolidated statement of cash flows (condensed)

October-December January-December

MSEK 2025 2024 2025 2024

Cash flows from operating activities Operating profit Depreciation, amortization and impairment (see below) Capital gain/loss and other non-cash items	8 470 2 673 -192	10 018 2 384 -297	34 114 9 529 -294	38 166 8 785 148
Operating cash surplus	10 951	12 105	43 349	47 099
Net financial items received/paid	21	302	-527	151
Taxes paid	-2 564	-2 169	-9 408	-9 470
Pension funding and payment of pension to employees	-167	-186	-517	-517
Change in working capital	649	2 305	1 618	2 068
Investments in rental equipment	-513	-622	-2 032	-2 526
Sale of rental equipment	16	26	83	82
Net cash from operating activities	8 393	11 761	32 566	36 887
Cash flows from investing activities
Investments in property, plant and equipment	-1 105	-1 085	-4 284	-4 236
Sale of property, plant and equipment	67	18	165	74
Investments in intangible assets	-529	-564	-1 903	-1 788
Acquisition of subsidiaries and associated companies	-8 000	-2 212	-11 560	-7 424
Other investments, net	-9	22	-38	52
Net cash from investing activities	-9 576	-3 821	-17 620	-13 322
Cash flows from financing activities
Annual dividends paid	-7 304	-6 825	-14 606	-13 647
Dividends paid to non-controlling interest	-	-	-4	-5
Acquisition of non-controlling interest	-	-1	4	-19
Repurchase and sales of own shares	213	-793	-84	45
Change in interest-bearing liabilities, net	-1 844	-701	-1 677	-2 238
Net cash from financing activities	-8 935	-8 320	-16 367	-15 864
Net cash flow for the period	-10 118	-380	-1 421	7 701
Cash and cash equivalents, beginning of the period	25 999	18 867	18 968	10 887
Exchange differences in cash and cash equivalents	-358	481	-2 024	380
Cash and cash equivalents, end of the period	15 523	18 968	15 523	18 968

Depreciation, amortization and impairment

October-December January-December

MSEK 2025 2024 2025 2024

Rental equipment	412	305	1 343	1 097
Other property, plant and equipment	598	588	2 350	2 231
Right-of-use assets	519	502	2 010	1 844
Intangible assets	1 144	989	3 826	3 613
Total	2 673	2 384	9 529	8 785

Calculation of operating cash flow

October-December January-December

MSEK 2025 2024 2025 2024

Net cash flow for the period	-10 118	-380	-1 421	7 701
Add back:
Change in interest-bearing liabilities, net	1 844	701	1 677	2 238
Repurchase and sales of own shares	-213	793	84	-45
Annual dividends paid	7 304	6 825	14 606	13 647
Dividends paid to non-controlling interest	-	-	4	5
Acquisition of non-controlling interest	-	1	-4	19
Acquisitions and divestments	8 000	2 212	11 560	7 424
Currency hedges	-40	-237	290	-8
Operating cash flow	6 777	9 915	26 796	30 981

Revenues by business area

MSEK (by quarter)	2023 Q1	Q2	Q3	Q4	2024 Q1	Q2	Q3	Q4	2025 Q1	Q2	Q3	Q4
Compressor Technique	17 632	18 600	19 493	19 827	18 710	20 136	19 031	20 382	19 330	19 119	19 151	19 540
- of which external	17 466	18 407	19 300	19 614	18 507	19 905	18 819	20 202	19 151	18 973	19 007	19 382
- of which internal	166	193	193	213	203	231	212	180	179	146	144	158
Vacuum Technique	9 989	10 911	10 802	11 110	9 719	10 089	10 444	10 189	9 527	8 982	9 193	9 025
- of which external	9 979	10 906	10 795	11 101	9 711	10 089	10 439	10 180	9 521	8 975	9 186	9 018
- of which internal	10	5	7	9	8	-	5	9	6	7	7	7
Industrial Technique	6 492	7 280	7 306	7 375	7 514	7 471	6 832	7 705	6 943	6 118	6 515	6 808
- of which external	6 469	7 260	7 290	7 356	7 492	7 460	6 821	7 683	6 926	6 101	6 494	6 792
- of which internal	23	20	16	19	22	11	11	22	17	17	21	16
Power Technique	5 996	6 828	7 142	6 933	7 202	7 391	7 072	7 957	7 169	7 196	6 979	7 628
- of which external	5 947	6 791	7 100	6 883	7 165	7 349	7 026	7 923	7 132	7 161	6 934	7 590
- of which internal	49	37	42	50	37	42	46	34	37	35	45	38
Common Group Items / Eliminations	-248	-255	-258	-291	-270	-284	-274	-245	-239	-205	-217	-219
Atlas Copco Group	39 861	43 364	44 485	44 954	42 875	44 803	43 105	45 988	42 730	41 210	41 621	42 782
Equipment and service revenues
	2023				2024				2025
% of total revenues (by quarter)	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4
Compressor Technique - Equipment	57	58	59	60	56	58	57	58	56	57	57	57
Compressor Technique - Service	43	42	41	40	44	42	43	42	44	43	43	43
Vacuum Technique - Equipment	77	77	77	78	75	74	74	73	71	70	70	71
Vacuum Technique - Service	23	23	23	22	25	26	26	27	29	30	30	29
Industrial Technique - Equipment	71	74	73	76	73	73	71	74	71	71	71	74
Industrial Technique - Service	29	26	27	24	27	27	29	26	29	29	29	26
Power Technique - Equipment	58	60	56	54	58	57	53	56	55	56	53	50
Power Technique - Service	42	40	44	46	42	43	47	44	45	44	47	50
Operating profit by business area
	2023				2024				2025
MSEK (by quarter)	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4
Compressor Technique	4 245	4 472	4 856	4 915	4 642	4 990	4 974	5 110	4 711	4 776	4 844	4 752
- as a percentage of revenues	24.1	24.0	24.9	24.8	24.8	24.8	26.1	25.1	24.4	25.0	25.3	24.3
Vacuum Technique	2 268	2 504	2 465	2 370	2 119	2 027	2 014	2 381	1 638	1 700	1 697	1 730
- as a percentage of revenues	22.7	22.9	22.8	21.3	21.8	20.1	19.3	23.4	17.2	18.9	18.5	19.2
Industrial Technique	1 371	1 585	1 647	1 580	1 649	1 557	1 364	1 496	1 388	1 047	1 173	1 084
- as a percentage of revenues	21.1	21.8	22.5	21.4	21.9	20.8	20.0	19.4	20.0	17.1	18.0	15.9
Power Technique	1 145	1 294	1 429	1 323	1 393	1 406	1 274	1 415	1 205	1 227	1 187	1 223
- as a percentage of revenues	19.1	19.0	20.0	19.1	19.3	19.0	18.0	17.8	16.8	17.1	17.0	16.0
Common Group Items / Eliminations	-330	-666	-280	-1 102	-458	-514	-289	-384	-337	-257	-355	-319
Operating profit	8 699	9 189	10 117	9 086	9 345	9 466	9 337	10 018	8 605	8 493	8 546	8 470
- as a percentage of revenues	21.8	21.2	22.7	20.2	21.8	21.1	21.7	21.8	20.1	20.6	20.5	19.8
Net financial items	-44	-163	-189	-253	16	-192	-153	-37	-135	-86	-90	-132
Profit before tax	8 655	9 026	9 928	8 833	9 361	9 274	9 184	9 981	8 470	8 407	8 456	8 338
- as a percentage of revenues	21.7	20.8	22.3	19.6	21.8	20.7	21.3	21.7	19.8	20.4	20.3	19.5
Return on capital employed by business area
	2023				2024				2025
% (by quarter)	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4
Compressor Technique	82	83	82	85	84	84	85	85	83	82	80	78
Vacuum Technique	24	23	22	22	22	21	20	20	19	18	18	17
Industrial Technique	18	20	20	21	22	22	21	21	20	18	18	17
Power Technique	24	23	22	22	21	20	18	18	16	16	15	14
Atlas Copco Group	29	30	30	30	30	29	28	28	27	26	25	24

Acquisitions and divestments

Date	Acquisitions*	Divestments	Business area	Revenues MSEK**	Number of employees**
2025 Nov. 10	Anglian Compressors and Equipment Limited ("Anglian")		Compressor Technique		28
2025 Nov. 5	Engineering Automation Systems GmbH ("EAS")		Compressor Technnique	30	18
2025 Nov. 4	MKG Equipamentos Ltda. ("MKG")		Compressor Technique	90	30
2025 Oct. 14	Northern Compressed Air Ltd., ("Northern Compressed Air")		Compressor Technique		15
2025 Oct. 8	RM Boggs Inc. ("RM Boggs")		Compressor Technique		3
2025 Oct. 2	National Tank & Equipment, LLC ("NTE")		Power Technique	2 100	349
2025 Oct. 2	CRI-MAN S.p.A., ("CRI-MAN")		Power Technique	342	85
2025 Oct. 1	SUTO iTEC ("SUTO")		Compressor Technique	176	136
2025 Sep. 8	Casa dei Compressori S.r.l. ("Casa dei Compressori")		Compressor Technique		17
2025 Sep. 2	Shanghai Shareway Environment Technology Co., Ltd.		Vacuum Technique	926	320
2025 Aug. 5	Itsab AB ("Itsab")		Compressor Technique		21
			& Power Technique
2025 Aug. 4	New Star Technology (Suzhou) Co. Ltd. ("New Star Technology")		Vacuum Technique	73	38
2025 Jul. 9	Talleres Haizea S.L. ("Haizea")		Compressor Technique	51	16
2025 Jul. 4	Arizaga Bastarrica y Compañia S.A. ("ABC Compressors")		Compressor Technique	961	319
2025 Jun. 18	Kyungwon Machinery Industry Co., Ltd. ("Kyungwon")		Compressor Technique	465	126
2025 Jun. 13	Air Mac Inc. ("Air Mac")		Compressor Technique	184	40
2025 May. 2	Clearpro Construction Water Solutions Pty Ltd. ("Clearpro")		Power Technique	42	12
2025 Apr. 9	Powered Compressors and Supplies ("PCS")		Compressor Technique		12
2025 Apr. 1	Heide Pumpen GmbH ("Heide Pumpen")		Power Technique		42
2025 Mar. 21	MSS Nitrogen Ltd. ("MSS Nitrogen")		Compressor Technique	238	44
2025 Mar. 11	Neadvance Machine Vision, S.A. ("Neadvance")		Industrial Technique	29	41
2025 Mar. 4	Masterfilter NV ("Masterfilter")		Compressor Technique	30	3
2025 Feb. 5	IMOCOM S.A.		Compressor Technique	47	36
2025 Feb. 5	Maquinarias y Tecnologías S.A.S. ("Maq&Tec")		Compressor Technique	14	13
2025 Jan. 29	Dr. Weigel Anlagenbau GmbH		Compressor Technique		45
2025 Jan. 10	Medi-teknique Ltd. ("Medi-teknique")		Compressor Technique	42	13
2025 Jan. 9	JetCan Engineering Sdn Bhd ("JetCan")		Compressor Technique		24
2025 Jan. 7	V.O.L. Industries		Compressor Technique	35	2
2025 Jan. 7	Trident Pneumatics Pvt. Ltd. ("Trident")		Compressor Technique	134	113
2024 Dec. 3	Metalplan Equipamentos LTDA, ("Metalplan")		Compressor Technique	120	90
2024 Nov. 18	VisionTools Bildanalyse Systeme GmbH ("VisionTools")		Industrial Technique	160	80
2024 Nov. 8	ESA Service S.r.l. ("ESA Service")		Vacuum Technique	118	40
2024 Nov. 6	SCS Makina A.Åž. ("SCS")		Compressor Technique	40	11
2024 Nov. 5	Pennine Pneumatic Services Ltd. ("PPS")		Compressor Technique		84
2024 Nov. 4	Air Way Automation Ltd. ("Air Way")		Industrial Technique	370	98
2024 Okt. 3	Perslucht Wilda B.V. ("Perslucht Wilda")		Power Technique		9
2024 Okt. 2	Kinder-Janes Engineers Ltd. ("Kinder-Janes")		Power Technique	164	20
2024 Okt. 2	Pomac B.V. ("Pomac")		Power Technique	95	23
2024 Okt. 2	Arlógica Máquinas e Equipamentos, Lda ("Arlógica")		Compressor Technique		9
2024 Oct. 2	Easy Filtration S.r.l. ("Easy Filtration")		Compressor Technique		9
2024 Sep. 3	Integrated Pump Rental ("IPR")		Power Technique	57	18
2024 Sep. 3	Anhui NOY Technologies Co. Ltd., ("NOY")		Vacuum Technique	178	78
2024 Sep. 3	Generator Rental Services ("GRS")		Power Technique	263	58

* Full list of acquisitions and divestments for previous years can be found at Atlas Copco Group's website .

** Annual revenues and number of employees at time of acquisition/divestment. No revenues are disclosed for former Atlas Copco distributors.

Due to the relatively small size of most of the acquisitions made in 2025, full disclosure as per IFRS 3 is not given in this interim report.

Disclosure on an aggregated level will be given in the Annual Report 2025. See the Annual Report 2024 for disclosure of acquisitions made in 2024.

Parent company

Income statement (condensed)

October-December January-December

MSEK 2025 2024 2025 2024

Administrative expenses Other operating income and expenses	-190 262	-197 236	-827 470	-915 537
Operating profit/loss	72	39	-357	-378
Financial income and expenses	-184	3 688	10 870	18 067
Appropriations	2 340	2 910	2 340	2 910
Profit/loss before tax	2 228	6 637	12 853	20 599
Income tax	-480	-612	-304	-408
Profit/loss for the period	1 748	6 025	12 549	20 191

Balance sheet (condensed)

MSEK Dec. 31 2025 Dec. 31 2024

Total non-current assets Total current assets	200 144 3 310	198 845 5 829
TOTAL ASSETS	203 454	204 674
Total restricted equity	5 785	5 785
Total non-restricted equity	160 429	162 807
TOTAL EQUITY	166 214	168 592
Total provisions	617	737
Total non-current liabilities	22 415	35 002
Total current liabilities	14 208	343
TOTAL EQUITY AND LIABILITIES	203 454	204 674

Assets pledged and contingent liabilities

MSEK Dec. 31 2025 Dec. 31 2024

Assets pledged	227	209
Contingent liabilities	13 930	11 515

Accounting principles

Atlas Copco AB is the ultimate Parent Company of the Atlas Copco Group. The financial statements of Atlas Copco AB have been prepared in accordance with the Swedish Annual Accounts Act and the accounting standard RFR 2, Accounting for Legal Entities. The same accounting principles and methods of computation are followed in the interim financial statements as compared with the most recent annual financial statements. See also accounting principles, page 9.

Parent Company

Distribution of shares

Share capital equaled MSEK 786 (786) at the end of the period, distributed as follows:

Class of share	Shares
A shares	3 357 576 384
B shares	1 560 876 032
Total	4 918 452 416
- of which A shares held by Atlas Copco AB	47 864 891
- of which B shares held by Atlas Copco AB	0
Total shares outstanding, net of shares held by Atlas Copco AB	4 870 587 525

Performance-based personnel option plan

The Annual General Meeting 2025 approved a performance-based long-term incentive program. For Group Management and division presidents, the plan requires management's own investment in Atlas Copco shares. For further information, see: General meeting page.

Transactions in own shares

Atlas Copco AB has mandates to acquire and sell own shares as per below:

• The acquisition of not more than 9 500 000 series A shares related to personnel option plan for 2025.

• The acquisition of not more than 60 000 series A shares, later to be sold on the market in connection with payment to Board members who have opted to receive synthetic shares as part of their remuneration.

• The sale of not more than 60 000 series A shares to cover costs, primarily social charges, related to previously issued synthetic shares to Board members.

• The sale of a maximum of 29 300 000 series A shares currently held by the company, for the purpose of covering costs of fulfilling obligations related to the performance-based personnel option plans 2018, 2019, 2020, 2021 and

  2022.

• The shares may only be acquired or sold on NASDAQ Stockholm at a price within the registered price interval at any given time.

During 2025, 26 457 series A shares, net, were acquired. These transactions are in accordance with mandates granted. The company's holding of own shares at the end of the period appears in the table to the left.

Risks and factors of uncertainty

Financial risks

Atlas Copco AB is subject to currency risks, funding risks, interest rate risks, tax risks, and other financial risks. In line with the overall goals with respect to growth, return on capital, and protecting creditors, Atlas Copco AB has adopted a policy to control the financial risks to which Atlas Copco AB and the Group is exposed. A financial risk management committee meets regularly to manage and follow up financial risks, in line with the policy.

For further information, see the Annual Report 2024.

Related parties

There have been no significant changes in the relationships or transactions with related parties for the Group or Parent Company compared with the information given in the Annual Report 2024.

Nacka, Sweden January 27, 2026

Atlas Copco AB (publ)

Vagner Rego

President and CEO

The company's auditors have not reviewed this report.

This is Atlas Copco Group

Atlas Copco Group enables technology that transforms the future. We innovate to develop products, services, and solutions that are key to our customers' success. Our four business areas offer compressed air and gas solutions, vacuum solutions, energy solutions, dewatering and industrial pumps, industrial power tools, and assembly and machine vision solutions. In 2025, the Group had revenues of BSEK 168 and about 56 000 employees at year-end.

Business areas

Atlas Copco Group has four business areas. The business areas are responsible for developing their respective operations by implementing and following up on strategies and objectives to achieve sustainable, profitable growth.

The Compressor Technique business area provides compressed air and gas solutions such as industrial compressors, gas and process compressors and expanders, air and gas treatment equipment, air management and conversion. The business area has a global service network and innovates technology that transforms the future of the manufacturing and process industries. Principal product development and manufacturing units are located in Belgium, the United States, China, India, Germany, and Italy.

The Vacuum Technique business area provides vacuum products, exhaust management systems, cryogenics, maintenance and diagnostics, valves, and related products. The main markets served are semiconductor and scientific instruments, as well as a wide range of industrial segments, including chemical process industries, food packaging, and renewable energy. The business area has a global service network and innovates technology that transforms the future and improves customer performance. Principal product development and manufacturing units are located in the United States, Mexico, United Kingdom, Czech Republic, Germany, South Korea, China, and Japan.

The Industrial Technique business area provides industrial power tools, automated assembly and quality control systems including tightening robotics, automatic feeding and machine vision, and services through a global network. The business area innovates technology that transforms the future for customers in the automotive and general industries.

Principal product development and manufacturing units are located in Sweden, Germany, Hungary, United Kingdom, France, the United States, China, and Japan.

The Power Technique business area provides portable air and power, industrial and portable flow solutions through products such as portable compressors, generators, light and energy management systems, dewatering and industrial pumps, along with a number of complementary products. It also offers specialty rental and provides service through a global network. The business area innovates technology that transforms the future for multiple industries, including infrastructure construction, manufacturing, oil and gas, and exploration drilling. Principal product development and manufacturing units are located in Belgium, Spain, Germany, the United States, China, and India.

Vision, mission and strategy

The Atlas Copco Group's vision is to become and remain First in Mind-First in Choice of its customers and other stakeholders. The mission is to achieve sustainable, profitable growth. This means that we should continuously deliver profitable growth with an increased positive impact on society and the environment and by promoting diversity and inclusion. Inclusion is about providing everyone within our organization with support and inspiration to learn and grow. It also means that we include the perspective of different stakeholders, like customers and society, when we

create value. An integrated sustainability strategy, backed by ambitious goals, helps the company deliver greater value to all its stakeholders in a way that is economically, environmentally, and socially responsible.

For further information Analysts and investors

Daniel Althoff, Vice President Investor Relations Mobile: [phone]

[e-mail]

Media

Christina Malmberg Hägerstrand, Media Relations Manager Mobile: [phone]

[e-mail]

Conference call

A presentation for investors, analysts and media will be held on January 27, 2026, at 14:00 CET.

To follow the presentation via webcast:

https://atlas-copco-group.events.inderes.com/q4-report-2025

To participate via teleconference: https://events.inderes.com/atlas-copco-group/q4-report-2025/dial-in

Please visit our Investors page for presentation material.

Annual Report 2025

The Annual Report will be published on March 20, 2026.

First-quarter report 2026

The Q1 2026 report will be published on April 28, 2026, around 11:00 CEST and the conference call will be at 13:00 CEST.

Silent period starts on March 29, 2026.

Annual General Meeting 2026

The Annual General Meeting for Atlas Copco AB will be held on April 28, 2026, in Stockholm.

Second-quarter report 2026

The Q2 2026 report will be published on July 16, 2026. Silent period starts on June 16, 2026.

Third-quarter report 2026

The Q3 2026 report will be published on October 22, 2026. Silent period starts on September 22, 2026.

Fourth-quarter report 2026

The Q4 2026 report will be published on January 28, 2027. Silent period starts on December 29, 2026.

This information is information that Atlas Copco AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact person set out above, at 12:00 CET on January 27, 2026.