ANNUAL REPORT 2025

A year of focused execution

3

Nilfisk ANNUAL Report 2025

Nilfisk’s Annual Report 2025 is the second integrated report prepared in accordance with IFRS Accounting Standards and the Corporate Sustainability Reporting Directive (CSRD). It reflects a commitment to transparency and accountability through recognized standards, ensuring that financial report- ing and sustainability disclosures provide a comprehensive and accurate representation of Nilfisk’s performance.

The Annual Report 2025 consists of the following sections:

Management Review

Sustainability Statements

Financial Statements

Incorporation by reference

Nilfisk has applied the ESRS principle of ‘incorporation by reference’ in the Management Review and Financial Statements to enhance readability. These references are clearly marked with a .

Read more about incorporation by reference

in the Sustainability Statements.

Other available reports

In the Remuneration Report you will find a transparent and comprehensive overview of the remuneration of the Executive Management Board, Nilfisk Leadership Team, and Board of Directors.

The Corporate Governance Report is Nilfisk’s annual statement of compliance with the Recommendations for Corporate Governance as a company admitted to trading on a regulated market.

You will find more information about Nilfisk and available reports on https://investor.nilfisk.com .

About the report

Takeover offer from Freudenberg

On December 11, 2025, Nilfisk Holding A/S published an announcement regarding Nilfisk entering into an announcement agreement with Freudenberg Home and Cleaning Solutions GmbH, a part of the German family- owned Freudenberg group, pursuant to which Freudenberg will make an all-cash voluntary recommended public takeover offer to acquire all of the issued and outstanding shares (except for treasury shares and shares held by the Offeror) in Nilfisk at a price of DKK 140 per share.

As of the publication date of this report, the offer document has been approved by the Danish Financial Supervisory Authority pursuant to Sections 4(2) and 21 of Executive Order no. 614 of 2 June 2025 on Takeover Offers (the Danish Takeover Order) and is subject to shareholder review and regulatory processes.

More information is available on

https://investor.nilfisk.com.

Our governance

Our financial results

7

Nilfisk ANNUAL Report 2025

2025 in brief

5-year consolidated financial highlights

Outlook for 2026

Operations and R&D

How we operate

Financial highlights

At a glance

Letter from the Chair and the CEO

2025 in brief

science-based emissions targets, committing to Net-Zero by 2040. Our strong sustainability performance was recognized externally, as we earned an EcoVadis Gold Medal for the fourth consecutive year and improved our CDP climate score from A- to A, the highest possible rating.

Sustainability considerations remained integrated across product development and operations, supporting customer value creation and addressing the growing demand for efficient and sustainable cleaning solutions. Customer inquiries related to sustainability more than doubled in 2025, confirming that our long-standing commitment in this area remains a competitive strength and is increasingly important to our customers.

Maintaining stability and focus

In December 2025, we announced a recommended voluntary takeover offer from German family-owned company Freudenberg. The offer is, as of the publication date of this report, subject to shareholder review and regulatory processes. Our focus remains on running the business as usual while these processes unfold.

We would like to thank our customers for their continued trust, our shareholders for their engagement, and our employees for their professionalism, dedication, and commitment throughout the year. Their contributions have been central to a year of focused execution.

cost base. We realized targeted cost savings from previously announced restructuring programs and production consolidations. These initiatives are now clearly visible in our cost base, with lower operating expenses and a reduced FTE footprint.

In addition, we strengthened working capital management through strategic actions on inventory and receivables, supporting improved cash generation and financial resilience at Nilfisk. These actions were fully aligned with the commitments we communicated and demonstrate our ability to deliver consistently with financial discipline.

As planned, we also took decisive portfolio actions. In October, we finalized the divestment of our US high-pressure washer business to a local manufacturer with strong regional roots. This divestment allows Nilfisk to sharpen its focus on core businesses and strategic priorities, simplifies the portfolio, improve profitability, and going forward positively impacts our emissions footprint, while ensuring continuity for customers and employees.

Sustainability driving value creation

In 2025, we continued to embed sustainability into how we work and how we create value for our customers. We reduced our greenhouse gas emissions across scopes 1, 2 and 3, and strengthened our climate ambitions by updating our

Nilfisk emerged from the year more robust, more competitive, and better positioned for the future.

Jon Sintorn, CEO

Throughout 2025, we continued to execute our strategic roadmap with clear priorities, including customer focus, product development, operational improvements, and strengthening our platform for long-term value creation.

Jon Sintorn, CEO

Peter Nilsson

Chair

Jon Sintorn

CEO

Following a year of significant product development activity in 2024, 2025 was focused on execution. Efforts centered on rolling out and scaling recently introduced products, driven by close cooperation between our product, sales, service, and operation teams. In 2025 we also introduced several new products, including an entirely new range of next-generation vacuum cleaners, the VP series. This series offers some of our best-selling vacuums with recycled plastics. We also introduced the CS7500 compact sweeper-scrubber, which was developed based on extensive customer insights, and designed to meet diverse needs.

As a global company serving customers in more than 100 countries, we continued to simplify and strengthen our operational footprint. During 2025, we consolidated our two Hungarian factories into one site in Nagykanizsa and decided to close the production facility Brooklyn Park in the US, relocating remaining production to Querétaro, Mexico to enhance our ability in the large machine category. Following these changes, we now operate five production sites across three continents. This has improved utilization, productivity, and speed to market while reducing inventory levels. In parallel, we strengthened manufacturing and sourcing resilience in response to geopolitical volatility.

As we continue to sharpen our focus and strengthen the company for long-term growth, we took deliberate choices during the year about where to invest and where to step back. This includes phasing out selected development projects and inventory items that will not be part of our future product portfolio. While these actions led to one-off costs, they mark significant progress towards a more focused and resilient Nilfisk.

Structural efficiency and a more competitive cost base

One of our key priorities in 2025 was to deliver lasting structural efficiency improvements and a more competitive

Our governance

Our financial results

8

Nilfisk ANNUAL Report 2025

2025 in brief

5-year consolidated financial highlights

Outlook for 2026

Operations and R&D

How we operate

Financial highlights

At a glance

Letter from the Chair and the CEO

2025 in brief

Progress on strategic roadmap during 2025

Improve competitive position in North America

Enhance the operating model

Execute structural efficiency improvements

Progress in 2025

Improved the growth profile in North America

Restructured the operational footprint, including consolidation of manufacturing in Mexico

Strengthened US commercial execution, increasing sales focus and delivery performance

Reduced backlog effects and improved delivery performance over the year

Advanced portfolio and operational actions to address continued soft demand

Implemented a simpler operating model with clear ownership and accountability

Strengthened regional ownership and execution across functions

Shifted decision-making closer to customers through decentralization

Improved the ability to tailor value propositions and manage performance locally

Delivered targeted overhead cost savings and workforce reductions

Optimized the production footprint through consolidations in Hungary and Mexico

Advanced supply chain optimization to improve resilience and efficiency

Completed the divestment of the US high-pressure washer business

Strengthened working capital discipline and cash generation

At the beginning of the year, we set clear priorities to strengthen performance and resilience. By executing on these priorities during 2025, we have strengthened Nilfisk’s operational foundation and created a solid platform for continued progress in 2026.

Our governance

Our financial results

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Nilfisk ANNUAL Report 2025

2025 in brief

5-year consolidated financial highlights

Outlook for 2026

Operations and R&D

How we operate

Financial highlights

Letter from the Chair and the CEO

At a glance

2025 in brief

AT A GLANCE

The customers we serve

The need for cleaning is universal, and the effect of clean is valuable to our customers everywhere. Nilfisk serves customers around the world, targeting strategic customer segments and key applications.

Revenue by products and services

Floorcare

Scrubber dryers, sweepers, combination machines, carpet extractors, burnishers.

37%

Vacuum cleaners

Commercial vacuum cleaners, wet & dry vacuum cleaners, industrial solutions, vacuum cleaners for the consumer market.

20%

High-pressure washers

Professional pressure washers that use hot/ cold water, stationary pressure washers, gasoline/diesel driven pressure washers, high- pressure washers for the consumer market.

11%

Aftermarket

Service, parts, accessories, and consumables across all four business segments: Professional, Service, Specialty, and Consumer.

32%

ESRS data points incorporated by reference in this section: ESRS 2, SBM-1 40ai, AR 14a

Our solutions

With a product portfolio spanning from advanced industrial vacuum solutions to high-pressure washers and floorcare equipment, Nilfisk has a unique range in terms of breadth and depth.

Agriculture

Hospitality

Automotive

Iron & Metal

Building & Construction

Manufacturing

Contract cleaners

Offices & Public buildings

Education

Pharma

Food & Beverage

Retail

Healthcare

Warehousing & Logistics

Consumer

Our governance

2025 in brief

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Nilfisk ANNUAL Report 2025

Our financial results

Financial review

Revenue by region

In 2025, revenue in the EMEA region amounted to 620.6 mEUR, corresponding to moderate organic growth of 2.3%. Growth was supported by the Professional, Service, and Specialty business segments, partly offset by negative growth in the Consumer Business. Excluding Consumer, EMEA organic growth was 2.7% compared to positive organic growth of 4.1% in 2024. Solid growth in the Professional Business was supported by growth in Floorcare, High- pressure washers and Vacuum cleaners, partly offset by Private Label. The Service Business recorded moderate growth driven by service contract revenue from several markets, mainly Türkiye, UK, and Spain, while growth in the Specialty Business was limited. Price management remained strong across the region, where key markets delivered positive organic growth.

For the Americas region, revenue amounted to 301.3 mEUR in 2025, corresponding to negative organic growth of 4.9% compared to negative organic growth in 2024 of 4.3%. The US Professional Business continued to be impacted by a negative backlog effect and a continuing soft order intake. However,

price management mitigated the increase in tariffs, and higher sales activity continued to support the performance in the Americas region positively.

For the APAC region revenue amounted to 74.4 mEUR in 2025, corresponding to solid organic growth of 3.9% compared to negative organic growth of 8.0% in 2024. The development was driven by both the Professional Business and the Specialty Business, supported by large orders across markets. The growth was partly offset by negative organic growth in the Service Business.

Gross margin

The gross margin was 42.0% in 2025, compared to 42.2% in 2024. The 2025 margin was negatively impacted by elevated tariffs from China to the US and softer demand, which were partly offset by a favorable price impact combined with optimization of production. Adjusted for the net impact from additional tariffs, the gross margin was 42.5%.

The gross margin for the Professional Business increased from 40.9% to 41.7% in 2025. The increase was driven by

factory consolidations in Americas and EMEA, supported by price increases made to successfully offset the impact from elevated tariffs, as well as a favorable channel and customer mix in EMEA. The increase was partly offset due to higher US tariffs and product mix in APAC, where the gross margin declined, driven by a high number of larger deals in 2025.

The Service Business gross margin was 41.1% in 2025 compared to 44.1% in 2024, driven by an unfavorable product mix. This was also the driver for the Specialty Business gross margin that came to 50.8% in 2025 compared to 51.2% in 2024.

For 2025, the gross margin for the Consumer Business amounted to 40.1% compared to 37.3% for 2024, driven by favorable channel mix with growth in online sales.

Overhead costs and ratio

Overhead costs in 2025 decreased by 5.4 mEUR compared to 2024, totaling 356.6 mEUR. The decrease was a result of the continued cost reduction programs starting to deliver measurable results. However, the decrease was partly offset by investment in R&D activities, focused on updating the product portfolio.

In 2025, Nilfisk executed additional cost reduction initiatives in administrative functions, restructuring of R&D, and production in the US. In R&D, the balance of resources and locations to support the product portfolio strategy was adjusted. In addition, the consolidation of production facilities from the US to Mexico continued to increase efficiency and profitability.

The overhead cost reductions are in line with the strategic initiative to reduce overhead spending in the administrative functions and increase investments in customer-facing activities. The overhead cost ratio came to 35.8% in 2025, an increase of 0.6 percentage point compared to 2024, due to

lower revenue. The overhead cost in Q4 2025 decreased by 11.8% compared to Q1 in 2025.

Total R&D spend in 2025 decreased by 2.0 mEUR, compared to 2024, and came to 36.4 mEUR, corresponding to 3.7% of revenue, equivalent to 2024. Of the total R&D spend of 36.4 mEUR, 19.8 mEUR was recognized as an expense in the income statement, while 16.6 mEUR was capitalized. Total reported R&D costs for 2025 came to 32.7 mEUR including amortization, depreciation, and impairment of 12.9 mEUR.

Sales and distribution costs decreased by 2.8 mEUR to 256.6 mEUR, mainly driven by foreign exchange rates.

Administration costs for 2025 decreased 9.5 mEUR, to 66.7 mEUR, driven by the cost reduction programs.

Other operating income and expenses net for 2025 came to an expense of 0.6 mEUR compared to an income of 2.3 mEUR in 2024. The development was a combination of higher bad debt losses due to increased overdue trade receivables in 2025, whereas 2024 was positively impacted from the revision of provision for expected credit losses.

EMEA

Americas

APAC

Revenue (mEUR) and organic growth (%) by region

EUR million

2025

2024

Total R&D spend

36.4

38.4

Expensed in the P&L

19.8

17.6

Capitalized

16.6

20.8

R&D ratio (% of revenue)

3.7%

3.7%

Expensed R&D spend

19.8

17.6

Amortization, depreciation, and impairment

12.9

11.1

Total R&D expenses

32.7

28.7

74.3

-8.0%

74.4

3.9%

5.9%

612.4

2.3%

620.6

-4.3%

341.2

-4.9%

301.3

2024

2025

Our governance

2025 in brief

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Nilfisk ANNUAL Report 2025

Our financial results

Financial review

EBITDA before special items and EBITDA

For 2025, EBITDA before special items came to 129.2 mEUR compared to 139.8 mEUR in 2024, corresponding to an EBITDA margin before special items of 13.0%, down by 0.6 percentage point compared to 2024. The EBITDA margin before special items is in line with the outlook for 2025 provided on December 11, 2025 of an EBITDA margin before special items of 13% to 14%. Adjusted for the net impact from additional tariffs, the EBITDA bsi margin was 13.5%. In 2025, the share of profit from associates has been reclassified to operating profit, positively impacting EBITDA before special items. Read more in Note 1 in the financial statements.

For 2025, EBITDA amounted to 55.9 mEUR, compared to 133.4 mEUR in 2024. This corresponded to an EBITDA margin of 5.6%, down from 13.0% in 2024, driven by a higher level of special items for 2025 compared to 2024.

Operating profit (EBIT) before special items and operating profit (EBIT)

For 2025, operating profit before special items amounted to 67.4 mEUR, down from 75.9 mEUR in 2024. This corresponded to an operating profit margin before special items of 6.8% compared to 7.4% for 2024.

For 2025, operating profit amounted to a loss of 25.7 mEUR, mainly due to special items, compared to a profit of 69.5 mEUR for 2024. This corresponded to a negative operating profit margin of 2.6%, compared to a positive margin of 6.8% in 2024.

Special items

Special items in 2025 amounted to 93.1 mEUR compared to 6.4 mEUR in 2024, primarily from the execution of decisions on Nilfisk’s future strategic priorities. The net cash impact in

2025 resulting from special items amounted to 23.9 mEUR, as most of these costs were non-cash items. Certain provisions related to these special items are expected to result in further cash outflows in 2026, including 23.3 mEUR related to the settlement of the insurance dispute. Other potential cash outflows depend on circumstances that were uncertain at the reporting date, such as the outcome of ongoing legal proceedings.

As part of a comprehensive strategic review of the business, Nilfisk has identified selected development projects and inventory items that will not be part of the future product portfolio, including the investment in Thoro Inc., an associated company specializing in autonomous cleaning technology. Furthermore, it has been decided to consolidate the production and R&D site in Brooklyn Park, US, into the existing production site in Querétaro, Mexico. As part of this transition, R&D activities are being relocated to Mexico and other established competence centers. Additionally, the consolidation of the Hungarian production sites was completed in 2025.

These strategic initiatives resulted in impairments and inventory write-downs totaling 25.1 mEUR as well as a provision related to other contractual obligations. They also resulted in costs of 5.6 mEUR and redundancy costs of 17.0 mEUR. Lastly, consultancy costs of 8.8 mEUR associated with these initiatives as well as the process relating to the voluntary takeover offer, announced in December 2025, were also recognized as special Items.

The divestment process of the US high-pressure washer business resulted in impairment and write-downs of 11.0 mEUR, and consultancy costs of 0.6 mEUR, also reported under special items.

In 2025, Nilfisk also recognized a provision of 23.3 mEUR relating to the insurance dispute concerning the insurance payout for the destruction of the US distribution center following a tornado, and an additional 4.2 mEUR related to the ongoing legal dispute with the building’s owner. This reflects an adjustment to the existing provision, based on the Court of Appeals’ ruling, an external legal assessment, and the Executive Management Board’s best estimate of the expected financial impact. This was partly offset by an insurance income of 2.5 mEUR. Read more about the ongoing legal disputes in Note 8.3 Contingent liabilities.

Special items in 2024 were mainly severance and advisory costs incurred for strategic improvement projects as well as consolidation of the two US high-pressure washer operations. Furthermore, 2024 also included the claim filed against Nilfisk by the owner of the US distribution center building in Springdale, Arkansas as well as insurance income related to Hurricane Milton.

Read more in Note 2.4 Special Items in the financial statements.

Financial items

Net financial items for 2025 came to a cost of 23.3 mEUR, compared to a cost of 22.2 mEUR in 2024. This was mainly driven by higher foreign exchange losses from USD, partly offset by a decrease in interest expenses from lower interest rates.

Tax on profit (loss) for the period

For 2025, result before income taxes came to a loss of 49.0 mEUR, compared to a profit of 47.3 mEUR in 2024. Consequently, tax for the period amounted to a tax income of 12.3 mEUR, compared to a tax expense of 11.9 mEUR for

2024.This corresponded to an effective tax rate of 25.0% in 2025 compared to 25.2% in 2024.

Profit (loss) for the period

Result for the period for 2025 was a loss of 19.3 mEUR compared to a profit of 35.4 mEUR in 2024.

Working capital

As of December 31, 2025, working capital was 179.1 mEUR, in line with end of 2024. Both inventory and outstanding trade receivables ended at a lower level, but this was offset by corresponding lower trade payables and other liabilities.

Inventories came to 211.0 mEUR, a decrease of 22.1 mEUR compared to end of 2024. This was primarily driven by inventory write-downs related to the decisions affecting Nilfisk’s future product portfolio and the divestment of the US high-pressure washer business. The decrease was partially offset by higher safety stock levels and new product introductions.

Trade receivables came to 144.3 mEUR, a decrease of 11.8 mEUR from the level end of 2024, primarily due to lower sales. The non-recourse factoring program ended with a total volume of 27.9 mEUR compared to 31.8 mEUR at the end of 2024.

Trade payables came to 100.8 mEUR, a decrease of 26.9 mEUR compared to end of 2024. This was mainly driven by timing of invoices and payments.

Compared to end of 2024, other current receivables decreased by 4.1 mEUR, mainly due to the settlement of the insurance receivable relating to Hurricane Milton and prepayments.

Our governance

2025 in brief

20

Nilfisk ANNUAL Report 2025

Our financial results

Financial review

Other current liabilities came to 105.2 mEUR, a decrease of 7.0 mEUR compared to end of 2024, primarily related to a decrease in freight accruals and customer bonuses.

The 12-month average working capital ratio came to 20.3% at the end of 2025 compared to 16.9% at the end of 2024, driven by the higher average working capital level and lower revenue.

Capital employed and RoCE

As of December 31, 2025, capital employed amounted to 571.9 mEUR, down by 17.6 mEUR compared to 2024. The development in capital employed was mainly due to an increase in provisions related to legal cases and restructuring costs and decrease in intangible assets from impairments, all recognized as special items. This was offset by an increase in deferred tax assets.

The return on capital employed (RoCE) was 11.3%, down by 2.3 percentage points from 2024.

Cash flows

Cash flow from operating activities amounted to a net inflow of 28.8 mEUR in 2025, compared to an inflow of 51.9 mEUR in 2024. Cash flow was impacted by a negative operating profit, primarily driven by non-cash adjustments related to provisions, impairments, and write-downs recognized as special items. Adjusted for these non-cash effects, operating profit was positive at 43.5 mEUR. Cash flow was additionally negatively affected by outflow from changes in working capital primarily from investments into inventory and reduced trade payables compared to end of 2024. Severance payments related to cost reduction initiatives had a negative impact on cash flow for the period.

Cash flow from investing activities for 2025 was a net outflow of 44.2 mEUR on level with 2024.

For 2025, free cash flow was a cash outflow of 15.4 mEUR, compared to an inflow of 7.7 mEUR for 2024.

Equity

Equity was 264.6 mEUR at the end of 2025 against 319.4 mEUR at the end of 2024. For 2025, equity was impacted by the reported loss for the period, negative foreign exchange rate adjustments, and fair value adjustments on hedging instruments.

Net interest-bearing debt

At the end of 2025, net interest-bearing debt stood at 307.3 mEUR, up by 37.2 mEUR compared to the end of 2024. The increase was driven primarily by the increase in cash outflow from changes in working capital.

The financial gearing at the end of 2025 was 2.4x versus 1.9x at the end of 2024.

Subsequent events

Following the announcement in December 2025 of Freudenberg Home and Cleaning Solutions GmbH’s intention to acquire Nilfisk, Nilfisk published announcement no. 1/2026 on January 7, 2026, regarding the publication of the offer document on the voluntary takeover offer made by Freudenberg. At the date of approval of this Annual Report, the offer remains subject to shareholder review and regulatory processes.

On January 16, 2026, Nilfisk received the Eastern High Court’s (Østre Landsret) ruling in the insurance dispute related to the destruction of the US distribution center following a tornado.

The provision for this dispute has been recognized as special items in 2025. Read more in Note 4.7 Provisions, Note 6.1 Net interest-bearing debt, Note 8.3 Contingent liabilities, and Note 8.4 Events after the balance sheet date.

Other than as set out above, the Executive Management Board is not aware of events subsequent to December 31, 2025 that materially affect the assessment of the consolidated financial statements.

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Nilfisk ANNUAL Report 2025

Our governance

Responsible tax

Corporate governance

Board CommitteesThe Board of Directors annually assesses the relevance of appointing separate Nomination, Remuneration, Audit, and other relevant committees. In 2025, the Board of Directors appointed three standing committees: the Audit Committee, the Nomination Committee, and the Remuneration Committee. All measures or recommendations from these committees are either reported to or approved by the Board of Directors. Additionally, the Chair meets regularly with the Executive Management Board of Nilfisk to discuss relevant topics in between Board meetings. All board committees report to the Board of Directors, and senior representatives from Nilfisk act as secretariat for the committees. All committees have two members, and are appointed for one year a time. The Board of Directors considers this composition appropriate to ensure efficient and focused committee work, reporting, and decision-making within the Board of Directors.

Audit Committee

The principal duties of the Audit Committee are:

To monitor the financial and sustainability reporting process and compliance with existing legislation, standards and other regulations for listed companies relating to presentation and publication of financial and sustainability reporting

To monitor whether the company’s internal control and risk management systems function efficiently

To monitor the statutory audit of the annual and consolidated financial statements and the assurance of the annual and consolidated sustainability reporting

To monitor the independence of auditors and their supply of non-audit services to the Nilfisk Group

To make recommendations to the Board of Directors concerning the election of auditors

The work of the Audit Committee is described in its charter available online at Nilfisk’s Investor Relations site and is formalized in an annual plan approved by the Board of Directors. The Audit Committee reports to the Board of Directors at all regular board meetings to ensure efficient decision-making. All members possess the relevant financial expertise, and both members qualify as being independent.

The external auditors attend all Audit Committee meetings. An annual wheel is used to determine the subjects discussed in each meeting ensuring all relevant matters are covered. This includes statutory requirements alongside deep dives into current concerns.

The Audit Committee has received in-depth training sessions in the requirements of the Corporate Sustainability Reporting Directive (CSRD). The Audit Committee’s sustainability competencies are assessed on an ongoing basis, and additional training and access to experts will be provided if relevant. Read more about the Audit Committee’s duties related to sustainability reporting in the Sustainability Governance section in the Sustainability Statements.

Remuneration Committee

The principal duties of the Remuneration Committee are:

To oversee the remuneration of the Board of Directors, the Executive Management Board, and other members of the Nilfisk Leadership Team to ensure that the company’s remuneration practice is appropriate, balanced, and effective to achieve growth, profitability, and shareholder value.

To establish the Remuneration Policy for the Board of Directors and the Executive Management Board, making proposals on changes to the Remuneration Policy, and obtaining the approval of the Board of Directors prior to seeking shareholders’ approval at the Annual General Meeting.

To oversee the company’s short-term and long-term incentive programs, including awards, target-setting, and a review of target achievements every year

The Remuneration Committee reports to the Board of Directors at all regular board meetings to ensure efficient decision-making. Read more about the activities of the Remuneration Committee in the Remuneration Report available at Nilfisk’s Investor Relations site https://investor.nilfisk.com.

Nomination Committee

The principal duties of the Nomination Committee are:

To define, recommend, and assess the qualifications required of the Board of Directors and the Executive Management Board

To initiate an annual self-assessment within the Board of Directors

To exercise grandfather rights with respect to members of the Nilfisk Leadership Team.

Self-assessments

The purpose of the annual self-assessment is to continuously evaluate the performance, composition, size and expertise required within the Board of Directors, and to identify future areas of focus.

The Board of Directors decided to postpone the 2025 self-assessment due to the significant and unusually high workload regarding the voluntary takeover offer for Nilfisk Holding A/S. The Board of Directors also performs an annual assessment of the Executive Management Board covering two main areas: The interaction between these executives and the Board of Directors, and the expertise of these executives. The assessment takes the form of a

general discussion by the Board of Directors, after which the assessment findings are communicated by the Chair to the CEO and CFO.

The Executive Management Board and Nilfisk Leadership Team

The Board of Directors appoints the Executive Management Board, consisting of the CEO and CFO, who are responsible for the day-to-day management of Nilfisk. The CEO shall ensure that all duties imposed on the Executive Management Board by the Board of Directors are performed. In doing so, the CEO has organized the day-to-day management duties of the Group by delegating or assigning tasks or responsibilities to members of the Nilfisk Leadership Team, who are appointed by the CEO in consultation with the Nomination Committee. As of December 31, 2025, the Nilfisk Leadership Team is comprised of seven members, including the CEO and CFO.

The Nilfisk Leadership Team is responsible for and provides oversight on sustainability matters through the Sustainability Steering Committee. Read more in the Sustainability Governance section in the Sustainability Statements.

See pages 29-30 for particulars of the Nilfisk Leadership Team.

ESRS data points incorporated by reference in this section: ESRS 2, GOV-1 21e, 23a

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Nilfisk ANNUAL Report 2025

Our governance

Responsible tax

Corporate governance

Internal control and risk management related to the financial reporting process

Nilfisk has several policies and procedures in specific areas of financial reporting, including the Accounting Manual, the Risk Management Policy, the IT Security Policy, the Treasury Policy, the Insurance Policy, the Tax Policy, and the Integrity Policy & Business Code of Conduct. These policies and procedures apply for all subsidiaries.

Risk assessment

The risks related to each accounting process and line item in the financial statement are assessed based on quantitative and qualitative factors. The associated risks are identified based on the evaluation of the likelihood of occurring and the potential impact. The financial reporting control framework covers all material subsidiaries. Please refer to the Risk Management section on page 34.

Control activities

Nilfisk has implemented a formalized financial reporting process for the strategy process, budget and forecast process as well as for the monthly internal reporting on actual performance. Financial information reported is reviewed both by controllers with regional or functional knowledge of the individual companies/functions and by technical accounting specialists.

The financial reporting is dependent on IT systems. A central controlling function conducts financial compliance reviews throughout the organization based on a defined review strategy and risk assessment. The key controls implemented based on the financial reporting framework are systematically monitored and tested in conjunction with controller visits performed by Nilfisk Group Controlling.

Key controls, including general IT controls for subsidiaries considered relevant from a risk perspective, are tested at least once every five years. Internal controls related to the financial reporting process are established to detect, mitigate, and correct material misstatements in the financial statements.

Internal control and risk management related to the sustainability reporting process

Nilfisk has established various policies and procedures for sustainability, including ESG accounting manuals and a DMA Playbook. Specific policies are detailed in the Environment, Social, and Governance sections of the Sustainability Statements, applicable to the Nilfisk Group.

Risk assessment

Risks in the sustainability reporting process are assessed during data collection to ensure the integrity, completeness, and accuracy of the data, including value chain data. Priority is given to areas where main risks have been identified, which are areas that involve significant estimates and material risks of errors and misstatements.

Control activities

Nilfisk’s sustainability reporting process includes a clear governance structure and segregation of duties. Subject matter experts prepare ESG data, which is reviewed and controlled by ESG controllers to ensure compliance. Internal controls are in place to detect, mitigate, and address material misstatements in sustainability reports.

Corporate governance recommendations

As a listed company on Nasdaq Nordic, Nilfisk is subject to Nasdaq Nordic’s rules governing share issuers, and also

the corporate governance recommendations issued by the Danish Committee on Corporate Governance, which can be found at https://corporategovernance.dk.Nilfisk complies with all but two of the current recommendations:

With respect to the recommendation that the Board of Directors once a year evaluates the Board of Directors and at least every three years engages external assistance in the evaluation, the Board of Directors decided to postpone the 2025 self-assessment due to the significant and unusually high workload regarding the voluntary takeover offer for Nilfisk Holding A/S.

With respect to the recommendation that the entire Board of Directors discusses the result of the evaluation of the Board of Directors and that the procedure for the evaluation and the general conclusions of the evaluation are described in the management commentary, on the company’s website and at the company’s general meeting, this recommendation has not been followed due to the postponement of the 2025 self-assessment.

The Company’s statutory report on corporate governance includes the full list of recommendations, with comments on the Group’s position on each recommendation. More details can be found in Nilfisk’s annual reporting on the corporate governance recommendations available at Nilfisk’s Investor Relations site https://investor.nilfisk.com.

Danish Financial Statements Act

The disclosures under sections 99a and 107d of the Danish Financial Statements Act is made in the Sustainability Statements. The disclosure under section 99d of the Danish Financial Statements Act, including the Data Ethics Statement, is covered by a separate statement disclosed on our website https://www.nilfisk.com/global/professional/ about-nilfisk/sustainability.

Material Agreements with Change-of-Control Clauses

Nilfisk has entered into the following material agreements that include change-of-control clauses:

Nilfisk’s credit facility agreements contain change-of-control clauses, which give the counterparty the right to accelerate repayment, terminate the agreement, or renegotiate commercial terms.

Change-of-control clauses have been incorporated into the CEO’s and CFO’s employment agreements with 24 and 18 months’ notice period respectively.

Nilfisk continuously assesses these agreements as part of its overall risk management and does not consider the change of control clauses to pose a material risk to Nilfisk’s operational continuity under normal circumstances.

ESRS data points incorporated by reference in this section: GOV-5

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Nilfisk ANNUAL Report 2025

Our governance

Responsible tax

Corporate governance

2025 attendance overview

Board of Directors

Board of Directors meetings

Audit Committee

Remuneration Committee

Nomination Committee

Number of meetings 3

10

5

4

2

Peter Nilsson 3

René Svendsen-Tune 2

Are Dragesund 1 3

Franck Falezan 3 3

Bengt Thorsson

Ole Kristian Jødahl 4

Viveka Ekberg

Gerner Raj Andersen 3

Marcus Faber Kappendrup 3

Nadia Roya Damiri 8

Claus Dalmose 7

Wannie Hansen 5

Alexander Kjær Rasmussen 6

1 Member of the Remuneration Committee until March 19, 2025. Deputy Chair and member of the Nomination Committee since March 19, 2025.

2 Member and Deputy Chair of the Board of Directors, and member of the Nomination Committee until March 19, 2025.

3 Member of the Nomination Committee until March 19, 2025.

4 Member of the Remuneration Committee since March 19, 2025.

5 Member of the Board of Directors since September 23, 2025.

6 Member of the Board of Directors since October 9, 2025.

7 Member of the Board of Directors until September 23, 2025.

8 Member of the Board of Directors until October 9, 2025.

Attended

Not attended

Board of Directors

Age distribution

Age 61-652 pers

Age 56-601 pers

Age 51-552 pers

Age 46-50

1 pers

Nationality and gender distribution

SwedenNorway France

1 woman (17%) 5 men (83%)

Nilfisk Leadership Team

Age distribution

Age 61-650 pers

Age 56-602 pers

Age 51-552 pers

Age 46-503 pers

Nationality and gender distribution

DenmarkSweden Finland

France

2 women (29%) 5 men (71%)

ESRS data points incorporated by reference in this section: ESRS 2, GOV-1 21a, d. The infographic reflects the composition as of December 31, 2025.

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Nilfisk ANNUAL Report 2025

Our governance

Responsible tax

Board of Directors

Board of Directors – continued

ESRS data points incorporated by reference in this section: ESRS 2, GOV-1 21c, 22a, 23a

1 End of 2024 in parenthesis.

Ole Kristian Jødahl

Member Born 1971. Male Independent

Viveka Ekberg

Member Born 1962. Female Independent

First elected in

March 2023

March 2023

Expiry of current term

March 2026

March 2026

Committees

Remuneration Committee

Audit Committee

Selected positions and directorships

President and CEO of Alimak Group AB

Member of the Board of Directors of Alimak Group AB

Member of the Board of Kemppi Oy

Member of the board and chair of the audit committee of AutoStore Holdings Ltd, Lindab International AB, and Chair of the Storebrand ASA Audit Committee

Education

Economics studies at NHH, Norwegian School of Economics

MSc in Accounting & Finance and International Business

Nilfisk shares end of 2025 1

6,082 (5,515)

9,500 (9,500)

Core competencies

Executive management, strategic and operational

Management of leading global industrial companies

Acquisitions, integrations, distribution and service business

Strategy development, change management and profit improvement across multiple industries

Leading audit committees, financial and risk management, reporting and control

Capital markets, financial analysis and investments

ESG

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Nilfisk ANNUAL Report 2025

Our governance

Responsible tax

Board of Directors

Board of Directors – continued

ESRS data points incorporated by reference in this section: ESRS 2, GOV-1 21b

1 End of 2024 in parenthesis.

Gerner Raj Andersen

Employee representative Born 1966. Male

Marcus Faber Kappendrup

Employee representativeBorn 1976. Male

Wannie Hansen

Employee representativeBorn 1983. Female

Alexander Kjær Rasmussen

Employee representativeBorn 1992. Male

First elected in

March 2018

March 2022

September 2025

October 2025

Expiry of current term

March 2026

March 2026

March 2026

March 2026

Position at Nilfisk

Customer Care Representative

Joined Nilfisk in 1990

Enterprise Architect

Joined Nilfisk in 1999

Vice President, Group Reporting and Operational Finance

Joined Nilfisk in 2020

Senior Project Manager, Project Management Excellence

Joined Nilfisk in 2017

Committees

N/A

N/A

N/A

N/A

Selected positions and directorships

Owner of Mågaard I/S

Member of the board of Sem Vandværk

Board Member in the staff association at Nilfisk

N/A

SUMO member and Health & Safety Representative in Nilfisk Hadsund

Education

Secondary program

Degree in Business Administration

Graduate Diploma in Business Administration (Accounting and Financial Management)

MSc in Business Economics and Auditing

MSc in Industrial Design from Aalborg University

Nilfisk shares end of 2025 1

500 (500)

32 (32)

238 (238)

0 (0)

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Nilfisk ANNUAL Report 2025

Our governance

Responsible tax

Nilfisk Leadership Team

Nilfisk Leadership Team – continued

ESRS data points incorporated by reference in this section: ESRS 2, GOV-1 21c, 23a

¹ End of 2024 in parenthesis.

Camilla Ramby

Executive Vice President Special Businesses, Group Marketing & Sustainability

Born 1976. Female

Christopher Riau

Executive Vice President EMEA Professional Business Born 1979. Male

Thomas Dragø Nielsen

Executive Vice President APAC Region

Acting Executive Vice President Americas Region Born 1968. Male

Joined Nilfisk

2018

2007

1995

Core competencies

General management and business leadership

International sales and marketing

Sustainability and ESG

Business strategy

Service businesses

International commercial management

Industrial engineering

General management & business leadership

Commercial activation and execution

Positions and directorships

N/A

N/A

N/A

Previous positions

Danske Bank A/S

TDC A/S

Codan A/S

Elis

Robert Bosch

Mercedes-Benz

Nilfisk Pty. Ltd. (Australia)

Nilfisk Ltd. (UK)

Education

MSc in International Marketing & Management

MSc Industrial Engineering from CentraleSupélec and Reutlingen-Emlv University

MSc International Business Economics

Nilfisk shares end of 2025 1

5,544 (4,861)

4,000 (2,100)

3,815 (3,552)

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Nilfisk ANNUAL Report 2025

Additional information

Governance

Social

Environment

General information

IROs

DMA

Sustainability governance

Sustainability commitments

Sustainability at a glance

Sustainability certifications

Sustainability impacts

Safe, efficient, and durable products

Sustainability in Nilfisk revolves around building safe, efficient, and durable products. We build sustainability into our products to the benefit of people and the planet.

Sustainable cleaning solutions are about improving quality of life, reducing strain for workers through ergonomic design, lowering costs through reduced water, energy, and detergent use, and ensuring reliability through durable, repairable machines that stand the test of time.

Our approach is simple, do more with less. Every new development is focused on efficiency from advanced control systems that optimize resource consumption to components designed for easy serviceability and extended lifecycles.

By helping customers clean smarter, we help them cut waste, minimize downtime, and reduce total cost of ownership, all while lowering their environmental footprint.

Examples of sustainability impacts considered in new product development across the Nilfisk portfolio

Ergonomic and user-friendly

Adjustable ergonomics

Customizable user Interface

Highlighted user touch points

Easy access to training

Health and safety

HEPA filters

High cleaning performance

Informative status and safety lights

Energy efficiency

Efficient motors

Alternative fuel sources and batteries

Lower machine weight

Serviceability

Improved remote, onsite diagnostics and first-time fix

Comprehensive lifecycle service solutions

Consumables

Less water and detergent with same cleaning efficiency

Less and more sustainable packaging

Durability and repairability

Built to be refurbished

Changeable cleaning heads and cords

Removable squeegees

Autonomous

Improved quality of clean

Addressing labor shortage

Sustainable materials

Recycled plastics

Switch to lower carbon materials

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Nilfisk ANNUAL Report 2025

Additional information

Governance

Social

Environment

General information

Sustainability impacts

DMA

Sustainability governance

Sustainability commitments

Sustainability at a glance

Sustainability certifications

IROs

Environmental – continued

IRO

Impact, Risk, or Opportunity

Value chain*

Time horizon of impact

Description

Disclosure requirement

E3 Water and marine resources

7. Water

Water

Water consumption from product usage (entity-specific)

Risk

Short, Medium

There is a financial risk associated with implementing and improving operations to comply with new regulatory and customer requirements related to water.

E3-1, E3-2,

E3 (entity-specific)

E5 Circular Economy

8. Resource inflows

Resource inflows

Scarcity of materials

Actual negative impact

Short

Nilfisk contributes to increasing the scarcity of materials by consuming components such as plastics, electronics and some metals, which might make future generations unable to access them.

E5-1, E5-2, E5-3, E5-4

Risk

There is an inherent operational risk from scarcity of materials as it would require research and validation of alternative raw materials for sustaining production.

9. Resource outflows

Resource outflows

Repairability and recyclability of products and components

Actual negative impact

Short

Nilfisk’s products cannot be fully recycled or repaired due to design and logistical challenges, meaning that the Nilfisk value chain contributes to resource depletion by lack of optimization towards recyclability and repairability of materials.

E5-1, E5-2, E5-3, E5-5

Packaging waste

Actual negative impact

Short

Nilfisk’s packaging waste may cause pollution of air, water, and soil.

EU sustainable product initiative

Risk

The EU sustainable product initiative (SPI) will require product sustainability data in a future digital product passport. There is an inherent risk from non-compliance and negative reputational effects.

Social

IRO

Impact, Risk, or Opportunity

Value chain*

Time horizon of impact

Description

Disclosure requirement

S1 Own Workforce

UP

OO

DO

10. Working conditions

Health and safety

Health and safety relating to workplace accidents

Actual and potential negative impact

Short

Health and safety issues relating to workplace accidents and risks of fires because of the use of flammable material such as chemicals, lithium-ion batteries can cause negative impacts for Nilfisk’s employees.

S1-1, S1-2, S1-3, S1-4, S1-5, S1-6, S1-7, S1-14, S1-17

Risk

There is an inherent financial risk from employees being exposed to substances of concern and very high concern leading to increased sick days and productivity loss.

Working time

Other working conditions

Risk

There is an inherent financial risk from high workload that could lead to higher employee turnover and lower productivity.

S1-1, S1-2, S1-3, S1-4, S1-6, S1-7, S1-17

11. Equal treatment and opportunities for all

Diversity

Diversity, social equity and equal treatment

Actual positive impact

Short

Promoting diversity drives innovation and fosters a culture of inclusion in which everyone in the workplace is valued.

S1-1, S1-2, S1-3, S1-4, S1-6, S1-7, S1-9, S1-16, S1-17

Gender equality and equal pay for work of equal value

Gender pay gap

Actual negative impact

Short

Nilfisk has identified a gender pay gap and is taking action to ensure equal pay.

Risk

There is an inherent financial risk from existing gender pay gap related to employee retention.

* Own operation (OO), upstream (UP), or downstream (DO)

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Nilfisk ANNUAL Report 2025

Additional information

Governance

Social

Environment

General information

Sustainability impacts

DMA

Sustainability governance

Sustainability commitments

Sustainability at a glance

Sustainability certifications

IROs

Social – continued

IRO

Impact, Risk, or Opportunity

Value chain*

Time horizon of impact

Description

Disclosure requirement

S2 Value Chain Workers

12. Working conditions

Health and safety

Health and safety risks atdirect suppliers

Potential negative impact

Short

Nilfisk's value chain workers at direct and indirect suppliers are subject to health and safety risks, which can lead to accidents.

S2-1, S2-2, S2-3, S2-4, S2-5

Adequate wages, working time

Value chain workers' rights

Potential negative impact

Short

Value chain workers' rights to adequate wages and working time might not be respected by the upstream value chain. This is considered a potential impact.

S2-1, S2-2, S2-3, S2-4, S2-5

Risk

If value chain workers’ rights to adequate wages and working time are not respected, this could have a negative reputational and operational effect. There is considered an inherent financial risk.

S4 Consumers and end-users

13. Personal safety of consumers and end-users

Security of a person, Health and safety

Security of end-users

Potential negative impact

Short

The safety of Nilfisk’s end-users is at the core of Nilfisk’s operations and is a key element in business processes to ensure business integrity. There is a potential risk of accidents from the use of Nilfisk’s machines.

S4-1, S4-2, S4-3, S4-4, S4-5

Risk

Short

There is an inherent financial risk associated with the health and safety performance of Nilfisk products.

S4-1, S4-2, S4-3, S4-4, S4-5

14. Information-related impacts and personal safety

Privacy

GDPR privacy of customers and end-users

Risk

There is an inherent risk of fines from non-compliance with regulatory requirements related to GDPR for customers’ personal information.

S4-1, S4-2, S4-3, S4-4, S4-5

Governance

IRO

Impact, Risk, or Opportunity

Value chain*

Time horizon of impact

Description

Disclosure requirement

G1 Business conduct

UP

OO

DO

15. Corruption and bribery

Incidents and prevention and detection including training

Corruption and bribery incidents

Risk

There is an inherent risk of fines and negative reputational effects from corruption and bribery incidents.

G1-1, G1-3, G1-4

16. Protection of whistleblowers

Protection of whistleblowers

Whistleblowers

Risk

There is an inherent risk of fines and negative reputational effects if Nilfisk fails to protect whistleblowers or breaches GDPR rules.

G1-1

* Own operation (OO), upstream (UP), or downstream (DO)

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Nilfisk ANNUAL Report 2025

Additional information

Governance

Social

Environment

General information

E5 Resource use and circular economy

E3 Water

E2 Pollution

E1 Climate change

Scope 1 and 2 market-based emissions per relevant breakdown

Data indicator

Unit

2024

2025

Manufacturing sites

tCO2eq

3,873

3,097

Non-manufacturing sites

tCO2eq

3,595

3,127

Fleet

tCO2eq

10,318

9,882

GHG intensity based on net revenue

Data indicator

Unit

2024

2025

Total GHG emissions (location-based) per net revenue

tCO2eq/'000 EUR

1.79

1.62

Total GHG emissions (market-based) per net revenue

tCO2eq/'000 EUR

1.78

1.62

Net revenue can be reconciled to total revenue as reported in the financial statements.

Market-based scope 1 and 2 emissions decreased by 9% in 2025 compared to 2024. The decrease is attributed to increased consumption of renewable electricity, lower energy use due to sites closure and consolidation, warmer weather, and reduced fleet emissions due to lower mileage in the US and lower emissions per vehicle.

Absolute scope 3 emissions from the use of sold products decreased by 14% in 2025 compared to 2024. This reduction is due to changes in the product mix.

Absolute scope 3 emissions from purchase of goods and services decreased by 4% due to lower spend on direct procurement.

Read more on progress on targets on page 55.

E1-6 Gross scopes 1, 2, 3 and Total GHG emissions

GHG emissions

Milestones and target years

Data indicator

Unit

Base year

2021

2024

2025

% vs. LY

2030

Annual % target /base year

Scope 1 GHG emissions

Gross scope 1 greenhouse gas emissions

tCO2eq

14,923

14,476

13,693

-5%

Percentage of scope 1 GHG emissions from regulated emission trading schemes

%

-

-

-

Scope 2 GHG emissions

Gross location-based scope 2 greenhouse gas emissions

tCO2eq

7,270

5,052

4,420

-13%

Gross market-based scope 2 greenhouse gas emissions

tCO2eq

8,074

3,309

2,413

-27%

Significant scope 3 GHG emissions

Total gross indirect (scope 3) GHG emissions¹

tCO2eq

2,543,038

1,815,274

1,595,718

-12%

1,474,962

-37%

Percentage of GHG scope 3 calculated using primary data

85%

78%

75%

1. Purchased goods and services¹

tCO2eq

280,803

332,929

319,215

-4%

11. Use of sold products

tCO2eq

2,262,235

1,482,345

1,276,503

-14%

Total GHG emissions

Total GHG emissions (location-based)

tCO2eq

2,565,231

1,834,802

1,613,831

-12%

Total GHG emissions (market-based)

tCO2eq

2,566,035

1,833,059

1,611,824

-12%

Scope 1 and 2 - GHG emissions (market-based)

Total scope 1 and 2 - GHG emissions (market-based)²

tCO2eq

22,997

17,785

16,106

-9%

14,767

-30%

1 Category 1 purchased goods and services has been added to the base year and comparative figures. Read more in General basis for preparation on page 95.

2 The base year for total scope 1 and 2 emissions has been updated from 2019 to 2021. Read more in General basis for preparation on page 95.

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Nilfisk ANNUAL Report 2025

Additional information

Governance

Social

Environment

General information

E5 Resource use and circular economy

E3 Water

E2 Pollution

E1 Climate change

Accounting policy

Scope 1 and 2 greenhouse gas (GHG) emissions

Nilfisk calculates scope 1 and 2 greenhouse gas (GHG) emissions by multiplying energy consumption volumes with specific emission factors, following ESRS principles and the Greenhouse Gas Protocol Corporate Standards. Scope 1 includes direct emissions from owned or controlled sources, while scope 2 covers indirect emissions from purchased energy. The GHG emissions include CO2, CH4, and N2O, and are the sum of emissions from Nilfisk’s fleet and sites. Other GHGs are not applicable to Nilfisk operations at the end of the reporting period.

Emission factors are based on the GWP values from the latest IPCC Assessment Report, with older reports used only if conversion is not possible. Emissions are calculated using the latest available emission factors at the end of the reporting period. Sources of emission factors are the AIB and Green-e residual mix factors, IEA and DEFRA. Electricity covered by Energy Attribute Certificates (EACs, purchased as unbundled) has an emission factor equal to zero. To calculate its main sites’ emissions, Nilfisk uses the Resource Advisor platform. Excel-based tools are used to calculate estimated emissions and fleet emissions. Nilfisk does not participate in regulated Emission Trading Schemes.

Scope 3 – category 1 (Purchased goods and services)

The weight of materials purchased by selected suppliers, is based on the weight from E5-4 Resource inflows. Read the accounting policy for E5-4 Resource Inflows for more details.

Each material is assigned emission factors from the Ecoinvent database. A matching raw material and transformation process are selected, and the total emission factor is the sum of both. In some cases, only a material process is selected if the Ecoinvent process

includes a processing step or if plastic pellets are purchased for molding at Nilfisk sites.

The Ecoinvent ‘Cut-off’ approach is used, meaning no emissions are allocated to secondary materials, and purchased recycled materials are considered emission-free.

Ecoinvent processes are available for European markets, the ‘Rest of the World,’ and the Global market. Due to uncertainty about raw material origins, all raw material processes use the Global market process. For transformation processes, the Europe-specific process is chosen for materials purchased in EMEA, and the ‘Rest of the World’ process is chosen for materials purchased in APAC or the Americas.

Emissions from indirect sourcing are calculated following a spend-based approach. Indirect sourcing activities resulting in emissions are first identified and Operational Expenditures per indirect sourcing activity are then multiplied by an emission factor using the Exiobase database.

Extrapolation and estimates are made during the calculation of materials weight (see E5-4 for more details). Emissions are estimated based on external databases. A high degree of estimates and a medium degree of extrapolations have been made.

Scope 3 GHG emissions – category 11 (Use of sold products)

Scope 3 emissions - category 11 ‘Use of sold products,’ include emissions from the use of products sold by Nilfisk in the reporting period. These emissions are the sum of CO2, CH4, and N2O. GHG emissions from sold products are calculated by multiplying the estimated lifetime energy consumption of each

product by their time in use and the amount sold. Non-emitting products, such as parts, accessories and consumables, are filtered out. Product energy use is estimated from technical specifications, yearly usage, and product lifetime, considering various factors like job requirements, machine productivity, and component lifetime tests.

Nilfisk calculates GHG emissions from its products’ energy consumption (electricity, diesel, gasoline, LPG) using lifecycle emission factors, which include emissions from resource extraction to product usage. For fuels, DEFRA provides well-to-tank and combustion emissions factors. Electricity emission factors combine upstream, combustion, and lifecycle transmission and distribution emissions from IEA and EIB.

Emission factors are based on the GWP values from the latest IPCC Assessment Report, with older reports used only if conversion is not possible. DEFRA factors for LPG, gasoline, and diesel are the ones for 100% mineral fuels. A high degree of estimates and a low degree of extrapolations have been used for Scope 3 – use of sold products.

Emissions for products without data are extrapolated using the emission-revenue ratio from products with data at various levels of the product hierarchy. If no emission data is available at any level, the overall average of revenue and emissions is used.

GHG intensity based on revenue

The GHG intensity based on net revenue is calculated as the absolute emissions divided by Nilfisk’s net revenue as reported in the income statement of the Financial Statements.

Scope 3 categories not in scope

The following scope 3 categories are not in scope as they are either deemed not relevant or immaterial to Nilfisk: C2-C10, C12-C15. The estimated share of total scope 3 emissions excluded is 6%.

E1-6 Gross scopes 1, 2, 3 and Total GHG emissions – continued

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Nilfisk ANNUAL Report 2025

Additional information

Governance

Social

Environment

General information

E5 Resource use and circular economy

E3 Water

E1 Climate change

E2 Pollution

The share of suppliers providing PFAS data increased by 16 percentage points due to increased supplier coverage, improving data quality.

E2 (entity-specific) PFAS

PFAS (entity-specific)

Data indicator

Unit

2024

2025

Percentage of PFAS high-risk suppliers provided PFAS information

%

38%

54%

Accounting policy

Percentage of PFAS high-risk suppliers provided PFAS information

The metric represents the percentage of spend on suppliers who provided PFAS information to Nilfisk, calculated as the spend from responses received divided by the total spend on high-risk suppliers.

The suppliers contacted is based on scoring Nilfisk’s total supplier base from 1-10 on a PFAS risk scale, developed by the Danish Institute of Technology (DIT) and is not publicly available. First,

Nilfisk assessed the function and materials of the parts supplied. Based on that information, DIT assessed the risk of PFAS in the parts and assigned scores to suppliers. Nilfisk has defined high-risk suppliers as those with a PFAS risk score between 7-10 and an annual spend over EUR 5,000, with the addition of selected suppliers through expert screening.

Percentage of products sold in low waste management maturity countries decreased by 5 percentage points, due to lower revenue from those countries, especially the US.

E2 (entity-specific) Pollution of air, water, and soil

Pollution from product end-of-life (entity-specific)

Data indicator

Unit

2024

2025

Percentage of products sold in countries with low waste management maturity

%

51%

46%

Accounting policy

Percentage of products sold in countries with low waste management maturity

The entity-specific metric is defined as percentage of revenue from countries with a waste management score lower than the average waste management score. Countries are allocated to the waste management score calculated in the framework of the Environmental Performance Index developed by the Yale Center for Environmental Law & Policy. If a scoring is not available for a country, an average of the region the country is in is used, calculated from Nilfisk sales countries in that region. In the case

when a Nilfisk product is not allocated to any region or country, the global average of waste management scores of Nilfisk sales countries is used. A low degree of estimates has been used.

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Nilfisk ANNUAL Report 2025

Additional information

Governance

Social

Environment

General information

E3 Water

E2 Pollution

E1 Climate change

E5 Resource use and circular economy

E5-5 Resource outflows

Products and materials

Data indicator

Unit

2024

2025

Expected durability of the products placed on the market, in relation to the industry average for each product group:

Floor cleaning & maintenance

years

4.8

4.8

High-pressure washers

years

7.6

7.8

Vacuum cleaners

years

7.4

7.4

Others

years

6.6

6.7

Repairability of products, using an established rating system

Data indicator

Unit

2024

2025

Average repairability rate of consumer high-pressure washers

points

8.5

8.5

Average repairability rate of consumer vacuum cleaners

points

6.5

6.9

Recyclable content in products and packaging

Data indicator

Unit

2024

2025

The rates of recyclable content in products

%

80%

80%

The rates of recyclable content in products packaging

%

48%

49%

Repairability index improvements on consumer vacuum cleaners is due to initiative on lowering sales price and increase availability of spare parts.

Accounting policy

Products and materials – durability

Durability is the expected lifetime of a product, calculated as the sum of product lifetimes divided by the number of product models sold. Product lifetime is expressed in years, and the number of product models sold is based on unique product models sold during the reporting year. Average durability is calculated for each product category: floor cleaning & maintenance, high-pressure washers, and vacuum cleaners. Unclassified products are grouped as “Others”. Products without durability data are estimated based on the average lifetime of products with available data. High degree of estimation has been made.

Comparison with industry average: No industry average for Nilfisk product durability exists. Until available, Nilfisk will report that its product durability cannot be compared. If some products are demonstrated by a third-party study to have higher or lower durability than other industry peers, it will be mentioned.

Products and materials – repairability

The French Repairability Index provides a methodology to assess the repairability of consumer electronics. For Nilfisk, this applies to consumer vacuum cleaners and high-pressure washers. Other products do not have an established rating system. The repairability rate calculation follows guidelines from Article L. 541-9-2 of the French environmental code. The repairability rates reported are the average repairability rates for each of the two product categories in scope. Low degree of estimation has been made.

Products and materials – rates of recyclable content

Products:The recyclability rate of Nilfisk’s products is estimated using data from selected products in their portfolio. The methodology for reporting and assessing recyclability is defined by using expert knowledge to evaluate the recyclability of each material in the products. To estimate the overall rate, weighted averages are calculated for products in the same category (e.g., vacuum cleaners, high-pressure washers, floorcare machines) and then applied to all products in that category. An overall weighted average is then calculated for the entire portfolio. A high degree of estimation has been made.

Packaging: Nilfisk calculates the packaging recyclability rate by determining the weight of each material type used for packaging (wood, cardboard, plastic, metal) and multiplying these weights by global average recyclability rates for each material. The total is then divided by the total packaging weight consumed during the year. A high degree of estimates has been used for recyclability data of packaging material.

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Nilfisk ANNUAL Report 2025

Additional information

Governance

Environment

General information

Social

S4 Consumers and end-users

Human rights

S2 Workers in the value chain

General information

S1 Own workforce

Health and safety

Material IRO

Nilfisk has identified actual and potential negative impacts from workplace accidents, resulting in negative effects on an individual, increased sick days, and a drop in productivity.

We have policies, targets, ISO 45001 standards, trainings, incident reporting, governance and escalation processes in place to mitigate the effect. We recognize that failing to manage this will expose us to a financial risk.

Occupational Health and Safety Policy

The Occupational Health and Safety Policy and our Global Health and Safety manual provide guidelines for safe, supportive workplaces. The EVP, Head of Product & Operations oversees compliance and improvement. Employees receive comprehensive training during onboarding. The Global Head of Environment, Health, and Safety (EHS) drives our strategy, aiming for ISO 45001 certification of relevant sites.

Code of Conduct

Nilfisk’s Code of Conduct rule number 7, Health and Safety, and rule number 10, Quality, govern activities related to health and safety of own workforce. Read more in section G1 - Business conduct.

POLICIES

Our commitment to health and safety starts with transparent incident reporting. Employees are encouraged to report all safety incidents through our HR system, allowing us to address issues, analyze trends, and implement preventive measures.

Manager responsibilities

At all Nilfisk locations, site safety partners promote a health and safety culture, address local concerns, and reinforce standards. Monthly global EHS meetings include on-site health and safety dialogues.

The Nilfisk Leadership Team prioritizes health and safety initiatives, promoting a culture where safety is everyone’s responsibility. The responsible General Manager ensures engagement and actions based on local regulations.

Identifying safety concerns

Employees are encouraged to use the health and safety reporting system, alternatively the whistleblower system, to report any health and safety concerns. More information is available in section G1 - Business conduct.

processes

In 2025, Nilfisk continued the key initiatives launched in previous years to improve health and safety reporting, culture, and practices:

Promoting a proactive safety culture with near-miss reporting and online training translated to main local languages to reach most of the employees.

Providing targeted training on mental health, driver safety, office safety, and services, besides site specific health and safety training on the production sites

Enrolling all sites in the Global Health and Safety Manual

Supporting change management is a fast-paced changing environment.

The standard safety reports provide KPIs to track performance and inform improvement points, from which the health and safety targets are defined.

Health and safety risk management

In 2025 we successfully kept all ISO 45001 certifications at relevant manufacturing sites along with clear Sedex reports. In addition, we expanded the Global EHS team and launched a tool to create a Compliance Heatmap overseeing 80% of all employees. This tool serves to assess local governance practices aligned with the new Operating Model and compliance in Environment, Health and Safety.

ACTIONS

ISO 45001 certifications set global standards

for occupational health and safety management

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Additional information

Governance

Environment

General information

Social

S4 Consumers and end-users

Human rights

S2 Workers in the value chain

General information

S1 Own workforce

Diversity

Material IRO

Nilfisk has identified an actual positive impact from diversity, social equity, and equal treatment. Policies, actions, and targets are developed to advance positive impact and to foster an inclusive workplace.

DE&I Policy

We recognize that a diverse workforce and inclusive culture strengthens our company. Our commitment to diversity is outlined in our Global Diversity, Equity, and Inclusion (DE&I) Policy, reviewed bi-annually and overseen by the EVP Head of People, Organization, and Culture.

This policy ensures compliance with laws and standards, providing equal opportunities and fostering an inclusive work environment by embracing the unique characteristics of our workforce. It promotes non-discriminatory employment practices and supports diversity through local actions.

Code of ConductNilfisk’s Code of Conduct rule number 8, Labor Rights, Diversity & Inclusion, governs activities related to diversity. Read more in section G1 - Business conduct.

Policies

E-learning training

In 2025, Nilfisk continued its e-learning programs to support policy implementation and educate employees to foster a diverse, equitable, and inclusive workplace. These programs address biases and strategies for ensuring psychological safety. More than 1,000 employees completed the training, which continues in 2026.

Diversity in recruitment

In 2025, we reinforced our commitment to inclusive and fair recruitment practices, recognizing that attracting the best-qualified candidates requires access to a broad and diverse talent pool. Our recruitment strategy is designed to minimize bias and support objective decision-making at every stage of the hiring process. To further this commitment, we have developed guidelines for the recruitment of management positions, with the aim of identifying and selecting the most capable individuals based on their skills, experience, and potential.

ACTIONS

Gender equality and equal pay

Nilfisk has identified a gender pay gap and is taking action to ensure equal pay through governance and processes, recognizing that failing to close the gap exposes Nilfisk to the risk of employee retention.

We are developing the foundations and data structures for relevant guidelines and continuously assessing the need for an Equal Pay Policy. Our current actions describe our approach.

Code of ConductNilfisk’s Code of Conduct rule number 8, Labor Rights, Diversity & Inclusion, governs activities related to gender equality and equal pay. Read more in section G1 - Business conduct.

Job architecture framework

At Nilfisk, equal pay for equal work is fundamental. We ensure fair compensation based on performance, skills, experience, and contributions, regardless of gender or personal characteristics. Our job architecture framework supports equal pay throughout the employment process, from hiring to promotion.

ACTIONS

POLICIES

Salary disparity efforts

In 2025, the unadjusted gender pay gap improved to 18% from 19% (2024) due to efforts in reducing salary disparities during merit processes, recruitments, and promotions. We continue to train and educate managers in how we work with compensation to ensure consistency and fairness and pay decisions. This is supported by updated global rewards principles as well as principles of transparency and pay equity.

Pay gap monitoring efforts

In 2025 we reviewed the Nilfisk job architecture and pay ranges, ensuring high data quality. Based on this update, we monitor gender pay gaps and plan corrective actions. While we do not have specific targets for equal pay, we continuously evaluate the need for them and will plan further actions based on 2025 outcomes. Currently, the effectiveness of these actions is not formally tracked.

Material IRO

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Additional information

Governance

Environment

General information

Social

S4 Consumers and end-users

Human rights

S2 Workers in the value chain

General information

S1 Own workforce

S1-7 Characteristics of non-employees in the undertaking’s own workforce

Headcount of non-employees

Data indicator

Unit

2024

2025

Non-employees in own workforce - self-employed people

Number

85

87

Non-employees in own workforce - people provided by undertakings primarily engaged in employment activities

Number

-

-

Total non-employees

Number

85

87

S1-9 Diversity metrics

Gender distribution at top management levels

Data indicator

Unit

2024

2025

Male

Number & %

42

69%

42

69%

Female

Number & %

19

31%

19

31%

Total

Number & %

61

100%

61

100%

Distribution of employees by age group

Data indicator

Unit

2024

2025

Under 30 years old

Number & %

543

11%

513

12%

30-50 years old

Number & %

2,927

61%

2,701

61%

Over 50 years old

Number & %

1,343

28%

1,241

27%

Total

Number & %

4,813

100%

4,455

100%

Accounting policy

Headcount of non-employees

Non-employees are contingent workers providing work for Nilfisk but not on Nilfisk payroll. Total headcount is defined as number of individuals contracted by Nilfisk, performing work for its entities at the end of the reporting period, irrespective of the extent of working hours (full-time/part-time).

Accounting policy

Gender distribution at top management levels

Gender distribution at top management levels is calculated as the number of employees by gender, relative to the total headcount at these levels, at the end of the reporting period. Top management includes the Nilfisk Leadership Team and their direct reports with people management responsibilities, including those on leave.

Distribution of employees by age group

Age distribution is determined by the employee’s date of birth, relative to the total headcount.

S1-14 Health and safety metrics

Percentage of people in its own workforce who are covered by health and safety management system based on legal requirements and (or) recognized standards or guidelines

Data indicator

Unit

2024

2025

Employees

%

26.5%

31.4%

Non-employees

%

0.8%

7.1%

Total

%

27.3%

38.6%

Number of fatalities as result of work-related injuries and work-related injuries and work-related ill health

Data indicator

Unit

2024

2025

Own workers

Number

-

-

Other workers working on Nilfisk’s sites

Number

-

-

Number and rate of recordable work-related accidents for own workforce

Data indicator

Unit

2024

2025

Employees

Number/rate

49

5.7

44

5.6

Non-employees

Number/rate

-

-

-

-

The number of work related recordable accidents improved by 10%. This result is well below the target and is due to preventive measures in the manufacturing sites.

Number of cases of recordable work-related ill health of employees

Data indicator

Unit

2024

2025

Employees

Number

-

1

Non-employees

Number

-

-

Number of days lost to work-related injuries and fatalities from work-related accidents, work-related ill health, and fatalities from ill health related to employees

Data indicator

Unit

2024

2025

Employees

Number

1,617

1,841

Non-employees

Number

-

-

In 2025, lost days resulting from work-related injuries increased by 14% compared to 2024. This result reinforces the importance of our continued investment in employee health, safety, and preventive risk management.

Accounting policy

Percentage of people in its own workforce who are covered by health and safety management systemThe percentage of employees that are covered by a health and safety management system, defined as the employee headcounts working at a site that is ISO45001 certified by an external certification divided by the total number of employees at the end of the reporting period.

Number of fatalities as result of work-related injuries and work-related injuries and work-related ill healthThe number of fatality cases involving Nilfisk employees or contractors working on a Nilfisk site, as reported through Nilfisk’s Safety Incidents application.

Number and rate of recordable work-related injuries The number of cases resulting in a recordable injury, as reported through Nilfisk’s Safety Incidents application. The Recordable injury rate measures the number of recordable injuries in relation to total hours worked (TRIFR = Number of recordable injuries in a defined period x 1,000,000 / total worked hours in the same defined period).

Number of cases of recordable work-related ill health The number of cases resulting in a recordable work-related ill health, as reported through Nilfisk’s Safety Incidents application.

Number of days lost to work-related injuries and fatalities from work-related accidents, work-related ill health and fatalities from ill healthThe number of work-related lost days, as reported through Nilfisk’s Safety Incidents application.

All data relating to health and safety incidents is collected directly from Nilfisk’s Safety Incidents application.

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Additional information

Governance

Environment

General information

Social

S4 Consumers and end-users

Human rights

S2 Workers in the value chain

General information

S1 Own workforce

S1-16 Remuneration metrics

Gender pay gap as the average pay levels between female and male

Data indicator

Unit

2024

2025

Gender pay gap

%

19%

18%

The annual total remuneration ratio of the highest paid individual to the median annual total remuneration for all employees

Data indicator

Unit

2024

2025

Annual total remuneration ratio

Ratio

52:1

50:1

Accounting policy

Gender pay gap

The unadjusted gender pay gap is the difference between the average gross hourly earnings of men and women, expressed as a percentage of men’s average gross hourly earnings. This average is calculated from the total base salary, excluding other compensation (e.g., allowances, target bonuses). The calculation excludes employees on leave.

Annual total renumeration ratio

The annual total remuneration ratio is calculated by dividing the CEO’s annualized compensation (including base salary, short-term, and long-term incentives) by the median employee compensation (including base salary and target incentives) at year-end.

S1-17 Incidents, complaints and severe human rights impact

Incidents, complaints and severe human rights impacts

Data indicator

Unit

2024

2025

The total number of incidents of discrimination, including harassment

Number

5

8

The total number of complaints filed through channels for people to raise concerns

Number

-

14

Other than stated above, no additional complaints have been filed through the designated channels for raising concerns, related penalties, or compensations. Additionally, there have been no severe human rights issues, incidents, or related fines.

Accounting policy

Incidents, complaints, and severe human rights impacts

The number of incidents of discrimination as well as complaints related to working conditions, equal treatment, and other work-related rights, within the Group’s own workforce. Cases are reported through the Nilfisk Whistleblower system or internally to direct manager, HR, or Global Compliance.

The Group’s formal processes are not currently designed to fully capture the ESRS-required metrics related to S1-17.

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Additional information

Social

Environment

General information

Governance

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Additional information

Social

Environment

General information

G1 Business conduct

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High-risk supplier and due diligence processes

Our Sustainable Sourcing Policy outlines our risk-based due diligence process that prioritizes high-risk suppliers for enhanced assessment, collaboration, and remediation to ensure ethical, environmental, and social compliance across the supply chain.

The different risk areas, such as sustainability, legal, regulatory or finance, are investigated and managed in collaboration with the respective departments within Nilfisk.

Our due diligence process includes a combination of activities such as signing our Supplier Code of Conduct and various regulatory declarations, completing in-house questionnaires, participating in visits by our supplier auditor and undergoing third-party audits.

When an issue is identified through any of these processes, we first aim for collaboration with the supplier to remediate the matter and support long-term improvements. If we see that long-term improvements are not possible, we also reserve the right to terminate the business relationship with the supplier.

Remediation and channelsto raise concerns

This section describes Nilfisk’s channels to raise concerns, and our remediation process.

Whistleblower Policy

Nilfisk’s Whistleblower Policy outlines the procedures for reporting and investigating concerns. This policy, available in multiple languages on our corporate intranet and websites, has been approved by the Board of Directors and is managed by the Legal & Compliance Team.

Grievance mechanisms

Concerns can be reported through Nilfisk’s multilingual online whistleblower system that ensures confidentiality and anonymity. This system complies with local reporting practices under the EU Whistleblower Directive (2019/1937). Additionally, concerns can be reported internally to managers, HR, or to the Legal & Compliance team. The whistleblower process is available to all Nilfisk’s stakeholders, including customers and end-users, and workers in the value chain.

All reports of possible legal or Code of Conduct violations, submitted through any channel, are directly investigated by the Legal & Compliance team on a case-by-case basis and are always handled independently from the chain of management involved in the matter. The conclusions from these investigations are reported to the Audit Committee. Members of senior management review relevant reports on a need-to-know basis.

The Legal & Compliance team provides feedback to employees who have reported concerns, informing them when the investigation is complete and giving an overview of the outcome. Employees may also be invited to follow-up meetings with the Legal & Compliance Team, if appropriate. Upon finalizing investigations, Nilfisk takes action on a case-by-case basis within the scope of our capabilities.

Training

In Q4 2023, Nilfisk launched its internal Learning Management System (LMS). By the end of 2025 92% of Nilfisk’s global workforce had completed the mandatory Code of Conduct training online in one of the eight available languages or in- person in local language.

During 2025, a process was implemented to ensure that all new hires are either automatically enrolled in the online Code of Conduct training or receive a copy of the document in their local language. All new hires are required to either complete the training within 30 days of their start date, or acknowledge receipt of the document within the same time frame.

From 2026, all Nilfisk employees will be required to take Code of Conduct training every two to three years.

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Governance

Social

Environment

General information

Additional information

Data points

EU Taxonomy

Statement on sustainability

ESRS

General basis for preparation

DMA

proxies, such as Customer Care, HR, Regulatory Affairs, and Legal. Nilfisk’s continuous engagement with stakeholders provides the basis for assessing the most material IROs.

Read more in the Stakeholder Engagement section.

Impact, risks, and opportunities assessment

Based on the gross list of IROs, separate scorings have been conducted from suitable methodology dependent on the nature of the IRO (either/or or both/and impact, and a financial risk and opportunity perspective). The scoring was performed in collaboration between Sustainability and Finance.

Time horizon

Each IRO has a specified time horizon, which defines the period within which the IRO is expected to materialize. The time horizon parameter is split into three categories, as defined by ESRS 1:

Short-term: one year, aligned with the period adopted as the reporting period in the financial statements

Medium-term: from one to five years

Long-term time: more than five years

Impact assessment

The scoring of impacts is based on the severity of impacts for the scale, scope, irremediable character, and likelihood for potential impacts. See the table on the right for further details.

Financial risks and opportunities assessment

In the financial materiality assessment, financial risks and opportunities derived from assessed impacts and independent sustainability-related risks and opportunities are considered. The scorings are based on the potential financial magnitude and likelihood of occurrence. The nature and

magnitude of financial effects in different scenarios were assessed based on assumptions and input parameters from SMEs.

Thresholds

If an IRO receives a total score of medium or higher, it is considered material to Nilfisk. Consequently, the associated ESRS standard, along with all relevant disclosure requirements and data points, are also deemed material. From the updated thresholds ESRS S3 - Affected Communities and ESRS E4 - Biodiversity have become immaterial topics.

Stakeholder verification

After finalizing the scores for all IROs, a consolidated overview of the outcome was reviewed by the identified SMEs for each respective IRO.

DMA finalization

A consolidated conclusion of the DMA has been presented to and approved by the Sustainability Committee (on behalf of the Nilfisk Leadership Team) and the Audit Committee. The DMA resulted in 42 material IROs across 8 ESRS topics and 16 sub-topics and serves as a list of material topics to Nilfisk that are continuously prioritized and monitored. The detailed IRO outcome is found on pages 45-47.

Changes to the 2024 DMA Approach

The first ESRS-aligned DMA for Nilfisk was carried out in 2024. In 2025, Nilfisk updated the DMA to reflect changes in geopolitics and the company’s outlook. As a result, Nilfisk reviewed its scoring criteria and raised financial thresholds to better match the current financial risks and improved data. These updates led to adjustments in the list of topics included compared to 2024.

Impact assessment

Scale

Defines the magnitude of impact on people or the environment, where the salient human rights principle is given precedence, and these are per definition scored at the highest possible level in scale.

Scope

Defines how widespread the impact is, based on the number of individuals affected or the extent of the environmental impact. Nilfisk has defined parameters such as the percentage of sites in scope, employees affected, and supplier spend to determine the scope coverage.

Irremediable character

Describes the extent to which the impact can be remediated. This assesses the difficulty in remediating the negative impact in terms of cost and time horizon.

Likelihood (potential impact)

For potential (and not actual) impact categories, likelihood was added as an additional scoring parameter. For human rights impacts, the human rights salience principle applies precedence over likelihood, meaning that likelihood is not considered for human right impact categories.

Financial risks and opportunities assessment

Financial magnitude

The potential financial effects assess the impact on EBIT if a risk or opportunity materializes. These are divided into:

Tangible financial effects: Actualfinancial risks that had occurred and are measurable.

Intangible financial effects: Potential financial impacts based on assumptions, including reputational, operational, employee retention, and compliance-related effects.

Likelihood

The likelihood of occurrence is assessed based on past occurrences or awareness of future occurrences (e.g. knowledge of future legislation).

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Governance

Social

Environment

General information

Additional information

Data points

EU Taxonomy

Statement on sustainability

General basis for preparation

DMA

ESRS

ESRS disclosure overview – continued

Disclosure requirements

Section¹

Page

Additional information

ESRS S1

Own workforce

S1-1

Policies related to own workforce

SS

71-73

S1-2

Processes for engaging with own workers and workers’ representatives about impacts

SS

71

S1-3

Processes to remediate negative impacts and channels for own workers to raise concerns

SS

71

S1-4

Taking action on material impacts on own workforce, and approaches to mitigating material risks and pursuing material opportunities related to own workforce, and effectiveness of those actions

SS

71-73

S1-5

Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities

SS

70, 74

S1-6

Characteristics of the undertaking’s employees

SS

75

S1-9

Diversity metrics

SS

76

S1-14

Health and safety metrics

SS

76

S1-16

Compensation metrics (pay gap and total compensation)

SS

77

S1-17

Complaints and severe human rights impacts

SS

77

ESRS S2

Workers in the value chain

S2-1

Policies related to value chain workers

SS

78-79

S2-2

Processes for engaging with value chain workers about impacts

SS

79

S2-3

Processes to remediate negative impacts and channels for value chain workers to raise concerns

SS

79

ESRS S2

Workers in the value chain - continued

S2-4

Taking action on material impacts on value chain workers, and approaches to managing material risks and pursuing material opportunities related to value chain workers, and effectiveness of those action

SS

79

S2-5

Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities

SS

78

Disclosure requirements

Section¹

Page

Additional information

ESRS S4

Consumers and end-users

S4-1

Policies related to consumers and end-users

SS

81-82

S4-2

Processes for engaging with consumers and end-users about impacts

SS

80

S4-3

Processes to remediate negative impacts and channels for consumers and end-users to raise concerns

SS

80

S4-4

Taking action on material impacts on consumers and end-users, and approaches to managing material risks and pursuing material opportunities related to consumers and end-users, and effectiveness of those actions

SS

81-82

S4-5

Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities

SS

80, 82

ESRS G1

Business conduct

G1-1

Corporate culture and business conduct policies and corporate culture

SS

85-87

G1-3

Prevention and detection of corruption and bribery

SS

88

G1-4

Confirmed incidents of corruption or bribery

SS

88

¹Financial Statements (FS), Management Review (MR), Sustainability Statements (SS).

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Statements & reports

Parent financial Statements

Consolidated financial statements

Part of the management review

Statement of changes in equity

Cash flow statement

Statement of financial position

Income statement and statement of comprehensive income

Notes

Principles of consolidation

The consolidated financial statements incorporate the financial statements of Nilfisk Holding A/S and entities controlled by Nilfisk Holding A/S. Control exists when Nilfisk Holding A/S has effective power over the entity and has the right to variable returns from the entity.

Where necessary, adjustments have been made to the financial statements of subsidiaries to bring their accounting policies in line with Nilfisk Group policies. All intragroup transactions, balances, income, and expenses are eliminated in full when consolidated.

Functional and presentation currency

Items included in the financial statements of each of Nilfisk Group’s entities are measured using the currency of the primary economic environment in which the entity operates (functional currency). The consolidated financial statements are presented in Euro (EUR). The functional currency of Nilfisk Holding A/S is DKK.

The presentation currency is EUR as the Nilfisk Group’s main business activities

are EUR denominated and the internal reporting is presented in EUR.

ESEF regulation/ iXBRL-reporting

The Commission Delegated Regulation (EU) 2019/815 on the European Single Electronic Format (ESEF Regulation) requires the use of a specific digital reporting format for annual reports of listed companies in the EU. More precisely, the ESEF regulation requires the annual report to be prepared in XHTML format with iXBRL tagging of the consolidated financial statements in the form of income statement, statement of comprehensive income, statement of financial position, cash flow statement, statement of changes in equity, and notes.

The iXBRL tagging of Nilfisk Holding A/S has been made using the ESEF taxonomy disclosed in the annexes to the ESEF Regulation and developed based on the

IFRS taxonomy published by the IFRS Foundation. The 2024 version of the ESEF taxonomy has been used for the annual report for 2025.

The line items in the consolidated financial statements are XBRL-tagged to the elements of the ESEF taxonomy that are considered to match the content of those

line items. For line items not considered to be covered by line items defined in the taxonomy, company-specific extensions to the taxonomy have been incorporated. Except for subtotals, these extensions are anchored to standard elements of the ESEF taxonomy.

Consistent with the requirements of the ESEF Regulation, the annual report approved by Management is comprised of a ZIP file identified as NIL-2025-12-31-en.zip, which includes an XHTML file that may be opened using standard web browsers, and a series of technical XBRL and a XBRL files enabling machine-readable access to the incorporated XBRL data.

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Statements & reports

Parent financial Statements

Consolidated financial statements

Part of the management review

Statement of changes in equity

Cash flow statement

Statement of financial position

Income statement and statement of comprehensive income

Notes

2.8 Tax – continued

Deferred tax assets and liabilities

EUR million

Temporary differences at January 1

Foreign currency translation adjustment

Recognizedin profit for the year

Recognized in other comprehensive income

Temporary differences at December 31

2025

Intangible assets

-9.3

0.6

7.9

-

-0.8

Property, plant and equipment

1.2

0.1

-1.5

-

-0.2

Other non current assets

0.2

-

-0.4

-

-0.2

Current assets

-1.6

-0.2

0.4

-

-1.4

Other non-current liabilities

6.1

-0.2

-

-0.5

5.4

Current liabilities

13.4

-0.5

0.5

-

13.4

Tax base of tax loss carryforward and credits

13.2

-0.1

14.0

-

27.1

Valuation allowance

-1.3

0.1

-0.1

-

-1.3

Net deferred tax

21.9

-0.2

20.8

-0.5

42.0

2024

Intangible assets

-13.5

-0.2

4.4

-

-9.3

Property, plant, and equipment

-1.3

-0.2

2.7

-

1.2

Other non-current assets

0.8

-

-0.6

-

0.2

Current assets

-0.6

0.1

-1.1

-

-1.6

Other non-current liabilities

5.0

0.1

0.8

0.2

6.1

Current liabilities

15.2

0.2

-2.0

-

13.4

Tax base of tax loss carryforwards and credits

14.2

0.1

-1.1

-

13.2

Valuation allowances

-3.3

-0.2

2.2

-

-1.3

Net deferred tax

16.5

-0.1

5.3

0.2

21.9

EUR million

2025

2024

Presentation of deferred tax:

Deferred tax assets

43.5

23.5

Deferred tax liabilities

-1.5

-1.6

Net deferred tax, December 31

42.0

21.9

Accounting policy

Current tax payable and receivable is recognized in the statement of financial position as tax computed on the taxable income for the year, adjusted for tax on taxable income for prior years and for prepaid tax.

Tax for the year is comprised of current and deferred tax on profit for the year, including adjustments to previous years and changes due to changing tax rates. Tax for the year is recognized in the income statement, unless the tax expense relates directly to items included in other comprehensive income or equity.

Deferred tax is measured according to the balance sheet liability method on all temporary differences between the carrying amount and the tax base of assets and liabilities. Deferred tax is, however, not recognized with respect to temporary differences on initial recognition of goodwill and other items, apart from business combinations, where temporary differences have arisen at the time of acquisition without affecting the profit for the year or the taxable income.

In cases where the computation of the tax base may be made according to different tax rules, deferred tax is measured on the basis of management’s intended use of the asset and settlement of the liability, respectively.

Deferred tax assets, including the tax base of tax losses allowed for carry-forward, are recognized under other non-current assets at their expected utilization value, either as a set-off against tax on future income, or as a set-off against deferred tax liabilities in the same legal tax entity and jurisdiction.

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Statements & reports

Parent financial Statements

Consolidated financial statements

Part of the management review

Statement of changes in equity

Cash flow statement

Statement of financial position

Income statement and statement of comprehensive income

Notes

3.3 Long-term incentive programs – continued

Warrant program

In line with the remuneration policy, new members of the Nilfisk Leadership Team have been awarded warrants which give the holder the right to convert one warrant into one share after a three-year vesting period at a fixed strike price, provided applicable conditions are fulfilled.

Below is an overview of outstanding warrants at December 31.

Outstanding warrants

Warrants

2025

2024

Warrant program June, 2023

14,341

113,145

Warrant program September, 2023

28,965

28,965

Warrant program March, 2024

46,728

46,728

Warrant program June, 2024

90,469

90,469

Warrant program March, 2025

385,320

-

Total outstanding warrants

565,823

279,307

Warrants

Number of warrants

Avg. exercise price per warrant (DKK)

Avg. exercise price per warrant (EUR)

2025

2024

2025

2024

2025

2024

Outstanding, January 1

279,307

142,110

200

200

27

27

Granted during the period

385,320

137,197

200

200

27

27

Forfeited during the period

-98,804

-

200

-

27

-

Outstanding, December 31

565,823

279,307

200

200

27

27

Weighted average remaining contractual life (months)

23

24

Fair value at grant date (mEUR)

1.4

1.1

The Black-Scholes model has been applied for calculation of the fair value of the warrants. The expected volatility is based on the historical share price volatility for the Nilfisk Holding share over a period of three years. It is expected that the warrants on average will be exercised between the vesting date and the expiry date.

Average assumptions for Black-Scholes calculation

2025

Share price (DKK)

126.7

Strike price (DKK)

200.0

Time to maturity (years)

3.5

Risk-free rate

2.7%

Volatility

40.6%

Dividends

0%

Accounting policy

The Nilfisk Group’s long-term incentive programs include a performance share program and a warrant program for Nilfisk Leadership Team and selected key employees.

Performance share programThe performance share program is accounted for as an equity-settled share-based payment to employees and measured at the fair value of the option.

The Total Shareholder Return (TSR vesting condition) is measured at grant date, whereas estimated EBITDA (vesting condition) will be updated based on the plans approved by the board.

The fair value is expensed on a straight-line basis over a period of three years. At the end of the period the participants will be awarded shares corresponding to the achieved targets.

Warrant programThe warrant program is accounted for as an equity-settled share-based payment to employees and measured at the fair value of the option. The fair value of the program is measured at grant date.

The fair value is expensed on a straight-line basis over a period of three years. At the end of the period the participants will have the right to convert each warrant into one share, provided applicable conditions are fulfilled. For accounting policy for hedging of LTI programs see Note 6.3.

124

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Statements & reports

Parent financial Statements

Consolidated financial statements

Part of the management review

Statement of changes in equity

Cash flow statement

Statement of financial position

Income statement and statement of comprehensive income

Notes

4.2 Impairment test – continued

Key accounting estimates

Impairment test on goodwill allocated to cash-generating units as of December 31, 2025Impairment tests are performed for each cash-generating unit (CGU) based on budgets for 2026 and forecasts for the period 2027-2030. The impairment tests performed for the CGUs show comfortable headroom as of December 31, 2025. No indication of impairment exists in any of the CGUs.

Key assumptions appliedThe future cash flow projections are based on Management’s estimates of the Nilfisk Group’s development in the next five years, which are based on key assumptions and considerations. The significant changes to the macroeconomic environment during 2025 are included in Management’s estimates.

Macroeconomic environment factorsMacroeconomic uncertainty, external disruptions, uneven regional conditions and trade barriers continued to impact markets in 2025. These had economic implications, including muted demand across several key markets. Global instability contributed to the deterioration of the overall geopolitical and economic climate.

In the future cash flow projection, Nilfisk has assessed and considered the impact from global instability, uneven regional conditions, continued potential trade barriers and natural disasters that could trigger an increase in material costs in both the short and long term. The negative impact from increasing material costs is countered by continued investment initiatives that strengthen Nilfisk’s supply chain robustness, as well as investments in more sustainable products that support growth.

Scarcity and the rising cost of labor, tight regulatory requirements for health and safety standards, and sustainability requirements have also been taken

into consideration. To counter this, investment initiatives towards digital transformation, marketing initiatives, sustainable products, improvement-driven execution and the consolidation of manufacturing in Hungary and Querétaro, Mexico combine to enhance Nilfisk’s value proposition and are expected to drive demand for Nilfisk products and services through our strategic roadmap, with clear priorities across customer focus, product development, operational improvements, and strengthening our platform for long-term value creation. Nilfisk’s customers face increasing requirements for more efficient and sustainable cleaning solutions and reporting requirements.

As a result, Nilfisk’s customers are increasingly focused on having a reliable partner that can support them in their own sustainability journey. These matters continue to be discussion points in the cash flow projection considerations. These are addressed through Nilfisk’s strong sustainability position and sustainability growth targets for each CGU, both short- and long-term.

Climate-related risk and uncertainties related to Nilfisk’s business and increased compliance requirements were assessed in the cash flow projection period, both from a short- and long-term perspective. This projection was based on experience from the incidents in 2022 caused by a tornado destroying Nilfisk’s US Distribution Center and in 2024 caused by a hurricane damaging Nilfisk’s site in Fort Pierce, Florida, Nilfisk acknowledges the ongoing climate change, and the long-term effect hereof was included in the projection of future growth on CGU level.

Revenue growthProjections in the forecasting period for the individual CGUs are estimated on the basis of expected market development including strategic initiatives, autonomous machines, and the macroeconomic environment. Past experience is taken into consideration as well as the expected impact from growth initiatives.

Gross margin developmentWhen estimating the CGU’s margin development in the forecasting period, past experience and the impact from expected efficiency improvements are taken into consideration. The expected impact of initiatives such as component standardization through value engineering and platforming, macroeconomic environment factors described above, and other initiatives is taken into consideration for the relevant CGUs.

Terminal growthThe terminal growth rate does not exceed the expected long-term average growth rate including inflation for the segments and countries in which we operate. The applied terminal growth rate for all cash generating units was 1.0%, unchanged from 2024.

Discount rateA pre-tax discount rate of 7.1% and a post-tax discount rate of 6.6% compared to 7.7% and 7.3% respectively in 2024 has been applied in the performed impairment tests. The discount rate has been applied to all CGUs, assuming our targeted ratio between the market value of our debt and equity value. The decrease in interest rates has not impacted the calculated discount rate significantly compared to 2024. The discount rate after tax increased 0.6 percentage point compared to last year.

Net working capitalThe development is linked to the current level of net working capital, budgets, and revenue growth.

Capital expenditureThe development is linked to the budgets and expected future activity level, including only reinvestments.

125

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Statement of changes in equity

Cash flow statement

Statement of financial position

Income statement and statement of comprehensive income

Notes

4.2 Impairment test – continued

Key accounting estimates (continued)

Development projects

Development projects/products in progress includes capitalized development costs for projects that support the strategic direction to become a global leading cleaning provider with focus on digitalization and development of new products within autonomous cleaning.

The value of the development projects is dependent on a number of factors, including the timely and successful completion of in-progress development projects. Since the products are under development or in the early stages of the product life cycle, any assessment of market potential, product performance and viability, customer demand, potential impact from technological innovations and competitor actions, marketing and services cost, the ability to scale production and reduce production costs etc. is inherently subject

to uncertainty. These uncertainties are assessed throughout the maturity of the projects and as such, the risk is reduced the closer the projects get to the completion stage. Where possible, the estimates are based on past experience, but are also dependent on the outcome of future events, which will be highly project dependent. It is the Executive Management Board’s assessment that a significant market potential exists, and that the value-in-use of development projects in progress exceed the carrying amounts under the assumptions mentioned above.

Other non-current intangible assets, property, plant and equipment

Other non-current assets were also tested for impairment indications together with goodwill as of 31 December 2025. No indication of impairment was identified in connection with these tests.

Sensitivity

The Group has conducted an analysis of the sensitivity of the impairment test to determine the lowest forecast growth rates and/or highest discount rates (WACC) that can occur in the CGUs leading to any impairment loss. The sensitivity tests calculate the impact of higher interest rates and challenging macroeconomic situations. Management believes that any reasonable possible change in the key assumptions on which the recoverable amount is based would not cause the carrying amount to exceed the recoverable amount of the related segments (CGUs).

127

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Statements & reports

Parent financial Statements

Consolidated financial statements

Part of the management review

Statement of changes in equity

Cash flow statement

Statement of financial position

Income statement and statement of comprehensive income

Notes

4.3 Intangible assets – continued

Accounting policy

Intangible assets are initially recognized in the statement of financial position at cost. Subsequently, intangible assets are measured at cost less accumulated impairment losses.

Goodwill

The carrying amount of goodwill is allocated to the Nilfisk Group’s cash generating units (CGU’s) at the acquisition date. The identification of CGU’s is based on the managerial structure and internal financial control. As a result of the integration of acquisitions in the existing Nilfisk Group, and identification of operating segments based on the presence of segment managers, the Executive Management Board has assessed that the smallest CGU’s to which the carrying amount of goodwill can be allocated during testing for impairment are the reportable segments. The reportable segments are comprised of the Nilfisk Group’s operating segments without aggregation (Note 2.1 Segment information).

Development projects

Development projects are recognized as intangible assets when the projects are clearly defined and identifiable for which the technical feasibility, adequacy of resources and a potential future market or internal utilization can be demonstrated, and where it is intended to manufacture or utilize the asset. This assumes that the costs can be reliably determined, and that there is also adequate certainty that the future earnings or net selling prices can cover the carrying amount as well as the development costs necessary for finalizing the project.

Capitalized development projects are measured at cost less accumulated amortization and impairment losses. The costs include wages, amortization and

other costs relating to the Nilfisk Group’s development activities. Development projects and software in progress.

Development projects and software in progress

Internally generated intangible assets are recognized when the technical feasibility, adequacy of resources, and a potential market or internal utilization can be demonstrated, provided the costs can be reliably determined and it is probable that the project will generate future earnings.

Initial cost of the internal generated asset is the sum of expenditures incurred from the date when the asset first meets the recognition criteria. This includes all directly attributable costs necessary to create, produce, and prepare the asset to be capable of operating in the manner intended by management. This includes cost of material and services and employee benefits.

Amortization

Intangible assets are amortized on a straight-line basis over the expected useful life which is:

Trademarks, etc.

Indefinite or 3-10 years

Customer related assets

3-15 years

Development projects

3-8 years

Software, know-how, patentsand competition clauses

2-15 years

Intangible assets with an indefinite useful life are not amortized but are tested annually for impairment.

129

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Part of the management review

Statement of changes in equity

Cash flow statement

Statement of financial position

Income statement and statement of comprehensive income

Notes

4.4 Property, plant, and equipment – continued

Accounting policy

Land and buildings, plant and machinery, tools and equipment, and other property, plant, and equipment are measured at cost less accumulated depreciation and impairment losses.

The costs are comprised of the purchase price and any costs directly attributable to the acquisition until the asset is ready for use. The costs of self-constructed assets are comprised of costs of materials, components, subcontractors, and wages. The costs are supplemented by the present value of estimated liabilities related to dismantling and removing the asset and restoring the site on which the asset was utilized.

Subsequent costs, such as those relating to replacement of parts of an item of property, plant, and equipment, are recognized in the carrying amount of the asset if it is likely that the costs will result in future economic benefits for the Nilfisk Group. The carrying amount of the replaced parts is derecognized in the statement of financial position and recognized in the income statement. All other costs relating to ordinary repair and maintenance are recognized in the income statement as incurred.

If individual parts of an item of property, plant, and equipment have different useful lives, they are depreciated separately.

Property, plant, and equipment are depreciated on a straight-line basis over the expected useful lives which is:

Buildings

8-25 years*

Plant and machinery

3-20 years

Tools and equipment

3-15 years

Land

Not depreciated

* On average 22 years.

The basis of depreciation is calculated according to the residual value less impairment losses. The residual value is determined at the acquisition date and reviewed annually. If the residual value exceeds the carrying amount, depreciation is discontinued.

When changing the depreciation period or the residual value, the effect on the depreciation is recognized prospectively as a change in accounting estimates.

Property, plant, and equipment under construction and prepayments are measured at cost. When ready for use, the asset is transferred to the relevant category and depreciated.

132

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Part of the management review

Statement of changes in equity

Cash flow statement

Statement of financial position

Income statement and statement of comprehensive income

Notes

4.6 Pension liabilities – continued

Accounting policy

The Nilfisk Group has contracted pension plans and similar arrangements with the majority of its employees.

Liabilities with respect to defined contribution-based pension plans for which the Nilfisk Group makes fixed regular payments to independent pension companies are recognized in the income statement in the period to which they relate. Any contributions outstanding are recognized in the statement of financial position under other payables.

In the case of defined benefit plans, an annual actuarial calculation (the Projected Unit Credit Method) is made of the present value of future benefits payable under the plan. The present value is determined based on assumptions about the future development in variables such as salary levels, interest rates, inflation, and mortality. The present value is determined only for benefits earned by employees from their employment with the Nilfisk Group. The actuarial present value less the fair value of any plan assets is recognized in the statement of financial position under pension liabilities.

Pension expenses for the year are recognized in the income statement based on actuarial estimates and financial expectations at the start of the year. The differences between calculated return and realized return on plan assets and liabilities are designated actuarial gains or losses and recognized in other comprehensive income.

If a pension plan constitutes a net asset, the asset is only recognized if it offsets cumulative actuarial losses or future refunds from the plan, or if it will lead to reduced future payments to the plan.

Sensitivity

The table below shows the sensitivity of the pension liability to changes in the key assumptions

EUR million

2025

2024

0.5% point increase in the discount rate

-1.6

-1.6

0.5% point decrease in the discount rate

1.4

1.8

0.5% point increase in the future salary increases

0.1

0.2

0.5% point decrease in the future salary increases

-0.1

-0.1

140

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Part of the management review

Statement of changes in equity

Cash flow statement

Statement of financial position

Income statement and statement of comprehensive income

Notes

6.3 Financial risks and financial instruments – continued

Credit risks

The Nilfisk Group’s credit risks relate partly to receivables and cash and cash equivalents, and partly to derivative financial instruments with positive fair values. The maximum credit risk attached to financial assets corresponds to the values recognized in the statement of financial position.

The Nilfisk Group has no material risks relating to a single customer or partner. The Nilfisk Group’s policy for acceptance of credit risks entails ongoing credit rating of important customers and other partners.

Nilfisk has chosen to sell some of its trade receivables in selected European markets in non-recourse factoring agreements to expedite cash collection from groups of customers. Nilfisk does not carry any credit risk on these customers.

Insurance cover and similar measures to hedge receivables are rarely applied as this is not deemed necessary.

Liquidity risks

It is the Nilfisk Group’s policy to maintain adequate cash resources for implementing planned operating activities and to be able to operate effectively in the event of unforeseen fluctuations in liquidity. The Nilfisk Group’s cash resources consist of cash, cash equivalents, and undrawn credit facilities.Liabilities due within one year do not include interest. The forward contracts are recognized at fair value and the discount element is considered insignificant due to short maturity.

The maturity analysis has been provided based on contractual cash flows, including estimated interest payments. The amounts have not been discounted and as such do not reconcile directly to the statement of financial position.

Maturity of the Nilfisk Group’s liabilities

EUR million

Within 1 year

1-2 years

2-3 years

3-4 years

4-5 years

> 5 years

Total

2025

Forward contracts

3.3

-

-

-

-

-

3.3

Other hedging instruments

0.4

-

-

-

-

-

0.4

Interest-bearing loans and borrowings

269.1

0.2

0.3

0.3

0.1

4.9

274.9

Lease liabilities

28.4

19.3

11.8

7.9

6.3

8.5

82.2

Trade payables

100.8

-

-

-

-

-

100.8

Other financial liabilities

101.5

1.0

0.5

0.3

0.1

-

103.4

Total

503.5

20.5

12.6

8.5

6.5

13.4

565.0

2024

Forward contracts

4.2

-

-

-

-

-

4.2

Other hedging instruments

-

0.8

-

-

-0.1

-

0.7

Interest-bearing loans and borrowings

5.5

0.4

44.1

0.3

144.2

40.1

234.6

Lease liabilities

26.4

17.7

11.4

2.8

1.2

5.5

65.0

Trade payables

127.7

-

-

-

-

-

127.7

Other financial liabilities

108.0

1.4

0.7

0.3

0.2

-

110.6

Total

271.8

20.3

56.2

3.4

145.5

45.6

542.8

141

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Part of the management review

Statement of changes in equity

Cash flow statement

Statement of financial position

Income statement and statement of comprehensive income

Notes

6.3 Financial risks and financial instruments – continued

Currency risks

With sales to more than 100 countries, the Nilfisk Group is exposed to currency risks that could have considerable impact on the income statement and statement of financial position.

Currency risks refer to the risks of losses (or opportunities for gains) resulting from changes in currency rates. Currency risks arise through transactions, financial assets, and liabilities denominated in currencies other than the functional currency of the individual Group businesses.

Translation risks relating to net investments in subsidiaries

As a basic principle, the hedging of currency risks is not performed for net assets (equity) in foreign subsidiaries. Gains and losses relating to unhedged net assets in foreign subsidiaries are accounted for directly in other comprehensive income. Currency risks relating to other investments in foreign entities are not deemed significant.

Sensitivity

The table below shows the sensitivity of the Nilfisk Group’s equity, if the exchange rate decreased by 10% for the most significant currencies, excluding EUR/DKK.

EUR million

2025

2024

USD

-7.1

-10.3

CNY

-3.1

-3.6

GBP

-1.1

-2.4

Net financing

Significant currency risks relating to receivables and payables that influence the Nilfisk Group’s net income are hedged. Balances with credit institutions are denominated in the functional currency of the businesses concerned.

Future cash flows

The Nilfisk Group’s principal currency exposure relates to sales and purchases in currencies other than the functional currency of the individual Nilfisk Group businesses. Hedging of these currency risks is based on assessments of the likelihood of the future transaction being performed and whether the associated currency risk is significant.

Expected cash flows with significant currency risk can be hedged up to 18 months applying a rolling hedging ladder strategy. The fair value of the effective part of the hedge is recognized in other comprehensive income on a continuous basis.

The table to the right shows net outstanding forward exchange hedging contracts at December 31 for the Nilfisk Group which are used for and fulfill the conditions for hedge accounting of future transactions. Forward exchange contracts relate to hedging of product sales/purchase.

Outstanding FX hedging contracts

2025

2024

EUR million

Notional value¹

Recognized in OCI

Notional value¹

Recognized in OCI

AUD/DKK

-18.7

-0.1

-7.0

0.1

CAD/DKK

-8.7

-0.1

-

-

CNH/DKK2

79.8

0.1

58.7

1.7

GBP/DKK

-23.0

-

-22.7

-0.6

HUF/DKK

19.5

0.7

8.9

-0.2

NOK/DKK

-8.2

-

-7.7

0.1

PLN/DKK

-6.5

-0.2

-9.3

-0.2

SEK/DKK

-12.1

-0.3

-10.2

-

TRY/DKK

-2.5

-0.2

-11.6

-1.4

USD/DKK

-11.6

0.2

-15.9

-0.8

CAD/USD

-

-

-12.7

0.6

Total

8.0

0.1

-29.5

-0.7

1 Forward exchange contracts with positive notional values are purchases of the relevant currency; negative notional values are sales.

2 The Chinese yuan traded offshore (CNH) is used as a proxy when hedging the CNY currency exposure for the Group.

142

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Statements & reports

Parent financial Statements

Consolidated financial statements

Part of the management review

Statement of changes in equity

Cash flow statement

Statement of financial position

Income statement and statement of comprehensive income

Notes

6.3 Financial risks and financial instruments – continued

The following table details the foreign currency forward contracts outstanding at the end of the reporting period, as well as information regarding their related hedged items.

Foreign currency forward contract assets are presented as “Other receivables” in the statement of financial position and foreign currency forward contract liabilities are presented in “Other liabilities” in the statement of financial position.

During the year, no ineffectiveness on hedge contracts has been recognized, and the change in value used for the calculated ineffectiveness is therefore equal to the carrying amount.

Cash flow hedges

2025

2024

Average exchange rate

Notional value: Foreign currency

Notional value: Local currency

Carrying amount of cash flow hedges, net

Average exchange rate

Notional value: Foreign currency

Notional value: Local currency

Carrying amount of hedges, net

(tFCY)

(tLCY)

EUR thousand

(tFCY)

(tLCY)

EUR thousand

Sell AUD

0-6 months

4.2984

AUD/DKK

-6,740 AUD

-28,971 DKK

-11.3

4.5485

AUD/DKK

-8,018 AUD

-36,470 DKK

76.2

7-12 months

4.1740

AUD/DKK

-3,910 AUD

-16,320 DKK

-55.4

4.5735

AUD/DKK

-3,685 AUD

-16,853 DKK

40.4

Sell CAD

0-6 months

0.7105

CAD/DKK

-8,030 CAD

-5,706 DKK

-71.9

-

CAD/DKK

-

-

-

7-12 months

0.7212

CAD/DKK

-5,990 CAD

-4,320 DKK

-29.0

-

CAD/DKK

-

-

-

Buy CNH

0-6 months

0.9199

CNH/DKK

380,970 CNH

350,452 DKK

-490.0

0.9550

CNH/DKK

255,535 CNH

244,026 DKK

968.0

7-12 months

0.8964

CNH/DKK

275,790 CNH

247,219 DKK

637.7

0.9606

CNH/DKK

189,930 CNH

182,445 DKK

751.8

Sell GBP

0-6 months

8.7607

GBP/DKK

-12,120 GBP

-106,179 DKK

92.0

8.8021

GBP/DKK

-11,690 GBP

-102,897 DKK

-446.6

7-12 months

8.5745

GBP/DKK

-7,940 GBP

-68,081 DKK

-77.1

8.9069

GBP/DKK

-7,160 GBP

-63,773 DKK

-152.7

Sell HUF

0-6 months

0.0189

HUF/DKK

4,297,930 HUF

81,166 DKK

477.9

0.0189

HUF/DKK

2,054,750 HUF

38,857 DKK

-141.4

7-12 months

0.0192

HUF/DKK

3,225,640 HUF

61,851 DKK

192.7

0.0186

HUF/DKK

1,599,370 HUF

29,810 DKK

-89.0

Sell NOK

0-6 months

0.6377

NOK/DKK

-59,590 NOK

-38,002 DKK

-18.5

0.6501

NOK/DKK

-49,770 NOK

-32,355 DKK

86.7

7-12 months

0.6313

NOK/DKK

-37,720 NOK

-23,813 DKK

-27.6

0.6350

NOK/DKK

-40,910 NOK

-25,979 DKK

0.1

Sell PLN

0-6 months

1.7640

PLN/DKK

-16,390 PLN

-28,912 DKK

-124.9

1.7281

PLN/DKK

-23,030 PLN

-39,799 DKK

-151.8

7-12 months

1.7595

PLN/DKK

-10,950 PLN

-19,267 DKK

-51.8

1.7370

PLN/DKK

-16,800 PLN

-29,182 DKK

-59.9

Sell SEK

0-6 months

0.6751

SEK/DKK

-83,370 SEK

-56,285 DKK

-195.0

0.6566

SEK/DKK

-73,928 SEK

-48,540 DKK

32.9

7-12 months

0.6780

SEK/DKK

-47,990 SEK

-32,539 DKK

-100.9

0.6499

SEK/DKK

-43,360 SEK

-28,178 DKK

-15.2

Sell TRY

0-6 months

0.1875

TRY/DKK

-126,000 TRY

-23,621 DKK

-152.5

0.2101

TRY/DKK

-240,000 TRY

-50,420 DKK

-999.5

7-12 months

-

TRY/DKK

-

-

-

0.2018

TRY/DKK

-185,000 TRY

-37,336 DKK

-403.3

Sell USD

0-6 months

6.7595

USD/DKK

-6,010 USD

-40,624 DKK

195.7

6.9413

USD/DKK

-9,483 USD

-65,824 DKK

-416.7

7-12 months

6.3935

USD/DKK

-7,590 USD

-48,527 DKK

-41.6

6.8743

USD/DKK

-7,080 USD

-48,670 DKK

-324.9

Sell CAD

0-6 months

-

CAD/USD

-

-

-

0.7285

CAD/USD

-11,420 CAD

-8,319 USD

376.7

7-12 months

-

CAD/USD

-

-

-

0.7207

CAD/USD

-7,580 CAD

-5,463 USD

187.1

Total

148.5

-681.1

143

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Statement of changes in equity

Cash flow statement

Statement of financial position

Income statement and statement of comprehensive income

Notes

6.3 Financial risks and financial instruments – continued

The following table details the effectiveness of the hedging relationships and value adjustments reclassified from the hedging reserve to the income statement.

Hedging reserve

2025

2024

EUR million

Currency risk

Interest rate risk

Total

Currency risk

Interest rate risk

Total

Hedging reserve, January 1

-0.5

-0.6

-1.1

-1.0

-0.5

-1.5

Value adjustment for the year

-1.8

0.6

-1.2

-1.4

-0.1

-1.5

Value adjustment reclassified to cost of sales

2.3

-

2.3

1.2

-

1.2

Value adjustment reclassified to inventory

0.3

-

0.3

0.8

-

0.8

Tax on value adjustment of hedging instruments

-0.2

-0.1

-0.3

-0.1

-

-0.1

Hedging reserve, December 31

0.1

-0.1

-

-0.5

-0.6

-1.1

Sensitivity

The sensitivity analysis demonstrates currency rate changes equal to the individual currency’s historic volatility, with all other variables held constant. The impact on the income statement is due to changes in the fair value of monetary assets and liabilities including fair value hedges. The impact on other comprehensive income is due to changes in the fair value of forward exchange contracts designated as cash flow hedges. The Group’s exposure to foreign currency changes for all other currencies is not material. The analysis shows that for instance a 5% increase in the CNH/DKK rate will impact other comprehensive income by 4.0 mEUR.

2025

2024

EUR million

Historic volatility

Change recognizedin OCI

Change recognized in P&L

Historic volatility

Change recognized in OCI

Change recognized in P&L

AUD/DKK

8%

-0.5

0.2

8%

-0.6

0.1

CAD/DKK

5%

-0.1

0.1

-

-

-

CNH/DKK

5%

4.0

-

6%

3.6

-0.9

GBP/DKK

5%

-1.1

-

5%

-1.2

-

HUF/DKK

7%

1.5

0.2

7%

0.6

-0.1

NOK/DKK

8%

-0.7

-0.1

8%

-0.6

-

PLN/DKK

5%

-0.3

-

6%

-0.5

-0.1

SEK/DKK

6%

-0.8

-

6%

-0.6

-

TRY/DKK

19%

-0.5

-

22%

-2.5

0.1

USD/DKK

6%

-0.7

0.3

8%

-1.2

4.6

CAD/USD

6%

-

0.1

5%

-0.1

0.2

144

Nilfisk ANNUAL Report 2025

Statements & reports

Parent financial Statements

Consolidated financial statements

Part of the management review

Statement of changes in equity

Cash flow statement

Statement of financial position

Income statement and statement of comprehensive income

Notes

6.3 Financial risks and financial instruments – continued

Fair values

Financial instruments measured at fair value in the statement of financial position are designated as belonging to one of the following three categories (the ‘fair value hierarchy’):

Level 1: Listed prices (unadjusted) in active markets for identical assets and liabilities

Level 2: Input, other than listed prices on Level 1, which is observable for the asset or liability either directly (as prices) or indirectly (derived from prices)

Level 3: Input for the asset or liability which is not based on observable market data (non-observable input)

Financial instruments measured at fair value consist of derivative financial instruments. The fair value of the Nilfisk Group’s forward transactions is measured in accordance with Level 2 as the fair value is based on official exchange rates and forward rates at the balance sheet date. The fair value of the TRS is measured in accordance with Level 2 as the fair value is based on inputs of which most are observable including the share price of Nilfisk. There are no financial instruments measured at Level 1 and 3.

Financial assets and liabilities by category

EUR million

2025

2024

Financial assets:

Trade receivables

144.3

156.1

Interest-bearing receivables

16.2

0.3

Other financial receivables

30.7

33.9

Financial assets at amortized cost

191.2

190.3

Derivative financial instruments

2.2

3.0

Fair value through other comprehensive income

2.2

3.0

Derivative financial instruments

0.7

0.8

Fair value through profit and loss

0.7

0.8

Total

194.1

194.1

Financial liabilities:

Interest-bearing loans and borrowings

272.4

234.6

Trade payables

100.8

127.7

Lease liabilities

71.1

65.0

Other financial liabilities

103.4

110.6

Financial liabilities at amortized cost

547.7

537.9

Derivative financial instruments

2.2

4.4

Fair value through other comprehensive income

2.2

4.4

Derivative financial instruments

1.5

0.5

Fair value through profit and loss

1.5

0.5

Total

551.4

542.8

Financial instruments, net

-0.8

-1.1

Accounting policy

Derivative financial instruments

Derivative financial instruments are recognized from the trade date and measured in the statement of financial position at fair value. Positive and negative fair values of derivative financial instruments are included in other receivables and liabilities, respectively. Fair values of derivative financial instruments are computed on the basis of current market data and generally accepted valuation methods.

Fair value hedges

Changes in the effective portion of the fair value of derivative financial instruments designated and qualifying as a fair value hedge of a recognized asset or a recognized liability are recognized in the income statement together with changes in the value of the hedged asset or hedged liability.

Apart from foreign currency hedging, hedge of future cash flows according to a firm commitment is treated as a fair value hedge.

The ineffective portion of the change in the fair value of a derivative financial instrument is presented under financial items.

Cash flow hedges

Changes in the effective portion of the fair value of derivative financial instruments designated and qualifying as hedges of future cash flows are recognized in other comprehensive income and accumulated in a separate hedging reserve under equity until the hedged item influences the income statement. Gains or losses relating to such hedging transactions are then transferred through other comprehensive income and recognized in the income statement in the same item as the hedged item. The hedged

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Nilfisk ANNUAL Report 2025

Parent financial Statements

Consolidated financial statements

Statements & reports

Independent auditor’s report ESG

Management’s statement

Independent auditor’s report

In preparing the consolidated financial statements and the parent financial statements, Management is responsible for assessing the Group’s and the Parent’s ability to continue as a going concern, for disclosing, as applicable, matters related to going concern, and for using the going concern basis of accounting in preparing the consolidated financial statements and the parent financial statements unless Management either intends to liquidate the Group or the Entity or to cease operations, or has no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the consolidated financial statements and the parent financial statements

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements and the parent financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements and these parent financial statements.

As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and maintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the consolidated financial statements and the parent financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for

the purpose of expressing an opinion on the effectiveness of the Group’s and the Parent’s internal control.

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management.

Conclude on the appropriateness of Management’s use of the going concern basis of accounting in preparing the consolidated financial statements and the parent financial statements, and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group’s and the Parent’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the consolidated financial statements and the parent financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Group and the Entity to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the consolidated financial statements and the parent financial statements, including the disclosures in the notes, and whether the consolidated financial statements and the parent financial statements represent the underlying transactions and events in a manner that gives a true and fair view.

Plan and perform the group audit to obtain sufficient appropriate audit evidence regarding the financial information of the entities or business units within the group as a basis for forming an opinion on the consolidated financial statements and the parent financial statements. We are responsible for the direction, supervision and review of the audit work performed for purposes of the group audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings,

including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and, where applicable, safeguards put in place and measures taken to eliminate threats.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements and the parent financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter.

Report on compliance with the ESEF Regulation

As part of our audit of the consolidated financial statements and the parent financial statements of Nilfisk Holding A/S we performed procedures to express an opinion on whether the annual report for the financial year January 1 – December 31, 2025, with the file name NIL-2025-12-31-en.zip, is prepared, in all material respects, in compliance with the Commission Delegated Regulation (EU) 2019/815 on the European Single Electronic Format (ESEF Regulation), which includes requirements related to the preparation of the annual report in XHTML format and iXBRL tagging of the consolidated financial statements including notes.

Management is responsible for preparing an annual report that complies with the ESEF Regulation. This responsibility includes:

The preparing of the annual report in XHTML format;

The selection and application of appropriate iXBRL tags, including extensions to the ESEF taxonomy and the anchoring thereof to elements in the taxonomy, for financial information required to be tagged using judgement where necessary;

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Nilfisk ANNUAL Report 2025

Parent financial Statements

Consolidated financial statements

Statements & reports

Independent auditor’s report ESG

Management’s statement

Independent auditor’s report

Ensuring consistency between iXBRL tagged data and the consolidated financial statements presented in human readable format; and

For such internal control as Management determines necessary to enable the preparation of an annual report that is compliant with the ESEF Regulation.

Our responsibility is to obtain reasonable assurance on whether the annual report is prepared, in all material respects, in compliance with the ESEF Regulation based on the evidence we have obtained, and to issue a report that includes our opinion. The nature, timing and extent of procedures selected depend on the auditor’s judgement, including the assessment of the risks of material departures from the requirements set out in the ESEF Regulation, whether due to fraud or error. The procedures include:

Testing whether the annual report is prepared in XHTML format;

Obtaining an understanding of the company’s iXBRL tagging process and of internal control over the tagging process;

Evaluating the completeness of the iXBRL tagging of the consolidated financial statements including notes;

Evaluating the appropriateness of the company’s use of iXBRL elements selected from the ESEF taxonomy and the creation of extension elements where no suitable element in the ESEF taxonomy has been identified;

Evaluating the use of anchoring of extension elements to elements in the ESEF taxonomy; and

Reconciling the iXBRL tagged data with the audited consolidated financial statements.

In our opinion, the annual report of Nilfisk Holding A/S for the financial year January 1 – December 31, 2025, with the file name NIL-2025-12-31-en.zip, is prepared, in all material respects, in compliance with the ESEF Regulation.

Copenhagen, February 19, 2026 Deloitte

Statsautoriseret Revisionspartnerselskab CVR No. 33963556

Sumit Sudan State Authorised Public Accountant Identification No (MNE) mne33716

Niels Skannerup Vendelbo State Authorised Public Accountant Identification No (MNE) mne34532

163

Nilfisk ANNUAL Report 2025

Parent financial Statements

Consolidated financial statements

Statements & reports

Independent auditor’s report

Management’s statement

Independent auditor’s report ESG

Management is further responsible for the preparation of the Sustainability Statements, in accordance with the Danish Financial Statements Act section 99a, including:

compliance with the ESRS;

preparing the disclosures in subsection “EU Taxonomy” as disclosed within Additional information of the Sustainability Statements, in compliance with Article 8 of the Taxonomy Regulation;

designing, implementing and maintaining such internal control that management determines is necessary to enable the preparation of the Sustainability Statements that is free from material misstatement, whether due to fraud or error; and

the selection and application of appropriate sustainability reporting methods and making assumptions and estimates that are reasonable in the circumstances.

Auditor’s responsibilities for the assurance engagement

Our objectives are to plan and perform the assurance engagement to obtain limited assurance about whether the Sustainability Statements are free from material misstatement, whether due to fraud or error, and to issue a limited assurance report that includes our conclusion. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence decisions of users taken on the basis of the Sustainability Statements as a whole.

As part of a limited assurance engagement in accordance with ISAE 3000 (Revised) we exercise professional judgement and maintain professional scepticism throughout the engagement.

Our responsibilities in respect of the Process include:

Obtaining an understanding of the Process but not for the purpose of providing a conclusion on the effectiveness of the Process, including the outcome of the Process;

Considering whether the information identified addresses the applicable disclosure requirements of the ESRS, and

Designing and performing procedures to evaluate whether the Process is consistent with the Group’s description of its Process, as disclosed in section Double Materiality Assessment of the sustainability statement.

Our other responsibilities in respect of the Sustainability Statements include:

Identifying disclosures where material misstatements are likely to arise, whether due to fraud or error; and

Designing and performing procedures responsive to disclosures in the sustainability statement where material misstatements are likely to arise. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Summary of the work performed

A limited assurance engagement involves performing procedures to obtain evidence about the Sustainability Statements.

The nature, timing and extent of procedures selected depend on professional judgement, including the identification of disclosures where material misstatements are likely to arise, whether due to fraud or error, in the Sustainability Statements.

In conducting our limited assurance engagement, with respect to the Process, we:

Obtained an understanding of the Process by performing inquiries to understand the sources of the information used by management; and reviewing the Group’s internal documentation of its Process; and

Evaluated whether the evidence obtained from our procedures about the Process implemented by the Group’s was consistent with the description of the Process set out in the section Double Materiality Assessment of the Sustainability Statements.

In conducting our limited assurance engagement, with respect to the Sustainability Statements, we:

Obtained an understanding of the Group’s reporting processes relevant to the preparation of its Sustainability Statements including the consolidation processes by obtaining an understanding of the Group’s control environment, processes and information systems relevant to the preparation of the Sustainability Statements but not evaluating the design of particular control activities, obtaining evidence about their implementation or testing their operating effectiveness;

Evaluated whether material information identified by the Process is included in the Sustainability Statements;

Evaluated whether the structure and the presentation of the Sustainability Statements are in accordance with the ESRS;

Performed inquiries of relevant personnel and analytical procedures on selected information in the Sustainability Statements;

Performed substantive assurance procedures on selected information in the Sustainability Statements;

Evaluated methods, assumptions and data for developing material estimates and forward-looking information and how these methods were applied; and

Obtained an understanding of the process to identify taxonomy-eligible and taxonomy-aligned economic activities and the corresponding disclosures in the Sustainability Statements.

Copenhagen, February 19, 2026

Deloitte

Statsautoriseret Revisionspartnerselskab

CVR-nr. 33963556

Sumit Sudan Niels Skannerup Vendelbo

State Authorised Public Accountant State Authorised Public Accountant

Identification No (MNE) mne33716 Identification No (MNE) mne34532

About Nilfisk

Nilfisk is a global provider of cleaning equipment and solutions, including floorcare machines, vacuum cleaners, and high-pressure washers. Serving a broad range of industries, Nilfisk maintains a strong market presence globally. Nilfisk’s growth strategy is driven by targeted product development, high service levels, and close collaboration with customers. Nilfisk operates in a resilient market focused on hygiene, automation, and sustainability. Headquartered in Copenhagen, the company was founded in 1906.

For more information, visit nilfisk.com

Contact

Investors

Carl Bandhold

Chief Financial Officer

ir@nilfisk.com

Media

Nynne Jespersen Lee

Head of Group Communications

njespersen@nilfisk.com

Nilfisk’s Annual Report 2025 was published on February 19, 2026.

Nilfisk Holding A/S

Marmorvej 8

2100 Copenhagen Ø

Denmark

Company reg. no. 38 99 88 70

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