Valmet (VALMT) investor relations material

Opening remarks and agenda

• The meeting opened with introductions of the board and executive team, highlighting recent changes and the board's diversity and expertise.

• Technical instructions and meeting procedures were explained, including voting and language arrangements.

Board and executive committee updates

• Significant board changes occurred in the past year, with a focus on supporting management in strategic matters and ensuring diversity.

• The board convened 13 times with a 95% attendance rate, focusing on strategy renewal and operating model updates.

• The board visited key sites, including Lucca, Italy, to deepen operational understanding.

• CEO Thomas Hinnerskov was commended for his leadership and cultural transformation efforts.

Financial performance review

• Orders received in 2025 decreased by 11% to EUR 5,216 million, mainly due to a tough comparison year in biomaterials.

• Net sales remained steady; comparable EBITDA margin reached a record 11.9%, up 60 basis points from 2024.

• EUR 35 million in cost savings were realized from operating model changes, with EUR 80 million expected in total.

• Cash flow was strong at EUR 581 million, and the balance sheet remains robust, supporting future investments.

• Process Performance Solutions delivered a 19.6% margin, while Biomaterial Solutions and Services maintained a 10.3% margin.