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to this presentation of the SSABQ3 report. My name is Per Hillström. I'm responsible for investor relations. And presenting today, we have our president and CEO, Jonny Sjöström, and our CFO, Lena Kraelius. And as you might notice, we have no video today. We are in a temporary office, so we don't have the normal studio. But again, that will be as usual. Jonny will start with the quarter. And then a deep dive into the financials with Lena. And then Johnny comes back with outlook and a summary. And there will be time also, of course, for questions at the end. So by that, please, Johnny, begin.

Good morning also from me. Start by summarizing the highlights from the Q3 report. I would like to emphasize the safety performance that we have within SSAB and also the safety culture that we've implemented. We continue to reduce the number of lost time injuries in the company in our journey to become the safest steel company in the world. I'm very proud of the level we are right now and we have ambitions to continue this development. Now, moving over to our operating results, I think the Q3 came out on a quite stable level. It has been a challenging market, not only geopolitically, but also the market conditions in Europe have been quite challenging. And even so, we still performed according to the expectations. And that's something that I think that we should take some pride of. I think the differences compared to last year was that the Americas contributed with a higher profitability compared to Q3 2024. Now, looking at the cash flow improvement, we can see that the Q3 this year was a stable quarter also from a cash flow perspective, came in on a decent level. If you can see the picture to the right, you see a shovel with two signatures on it. One is my signature, the other is from one of our ministers. Deputy Prime Minister of Sweden, Ebba Busch, when we had the groundbreaking ceremony in Luleå. That was quite a successful event. Also bringing all the stakeholders together, so that's a starting point for the investment in Luleå. Then moving over to our divisions and having a look at our Special Steel Division. The shipments came out slightly lower than we expected. But even so, I think that the prices maintained or remained on a good level. And the operating margin came out on a stable and decent level, 22%. And looking at the financial performance, even though the shipments were slightly lower, the financial result of roughly 1.4 billion shows resilience in a very challenging market. Looking at SSAB Europe, I have to remind you that we had a maintenance outage in major parts of the organization in Europe. Hence, pushing the profitability down, also the shipments were slightly lower, mainly due to the fact that we did have the outage. But even though I would say that comparably it was a decent quarter and came out on expectations, Like I said, the situation would have been better if it wasn't for the outage. I think the positive is that we maintain prices slightly better than Q2. And if we can continue to do that, I think that's a very good performance by the SSAB Europe organization. Looking at SSAB Americas, shipments here also came out on a slightly lower level. There has been some uncertainties now regarding the tariffs and what's going on in the USA market. I have to remind you that we are one of the largest plate producers on the US market. And the tariffs would limit the competition. But we can also have a negative impact on the demand side. Having said that, I have to say that the operating result for Q3 from our American division came out on a sort of expected level, where also here the prices were maintained on a stable level. I also have to remind you that if you compare to Q3 last year, we had a maintenance outage in Montpelier Q3 last year that brought down the financial performance. Having said that, I still think that the Q3 performance this year was stable and according to expectations. If we look at the two subsidiaries that we have, starting with Tibnor, I know that the market conditions in the Nordics are quite challenging. We haven't really seen the pickup as we were hoping for. The construction segment has maintained or remained on a lower level. We have seen some signals that the market might improve, the construction segment. But that would more likely be in next year. So as you can see, the ship mass came out lower than we expected and also lower than Q3 last year. The operating result also came out on a sort of a a lower level. Of course, the shipments had a big impact on the operating result. Looking at rookie construction, the revenue were slightly higher than they were Q2 2025. And the operating results came out also on a sort of an expected level of roughly 80 million Swedish kronor for the quarter of Q3. Yes, another update I'd like to do. I think the picture you can see to the right is from Oxosun. Here we can see how the electric arc furnace, this is the building, how that's progressing. And the progress is really good. It's progressing according to our plan. Having said that, I just want to also highlight that the production startup will be in Q1, early Q1 2027, which is a slight delay compared to what we have communicated in the past. That is only related to the power line and the power grid. So it has nothing to do with our own performance. It's more an external factor that we cannot impact. One of the highlights regarding transformation, also going in this green transformation journey, we became, our SSA, we became the first state in the world to meet an international energy agency threshold for near-zero emissions. and the first Mover Coalition's criteria. So this SSAB Zero product that we have actually met these criteria way before everyone actually could think it was possible. I think that's a good prestige for us. And these products were made partly by hydrogen reduced sponge iron. and also using scrap and also using the hybrid technology in the sponge iron that we produced. This product will be used in Givernova's onshore wind turbine towers. And last but not least also the luteum in mill project is proceeding according to plan and I already mentioned so the groundbreaking ceremony. That was it from me, now moving over to you, Lena.

Thank you, Jonny. Let us start by looking at the steel shipments first. That's on the graph on the top right-hand side. The outcome Q3 was 1,466 kilotons, and compared to Q2, that is a reduction of 14%. But then compared to previous year, third quarter, shipments were fairly stable, some nine kilotons higher this year compared to last year. And as the graph is illustrating, Q3 and Q4 tend to be lower. seasonally than the first and the second quarter. If we do a quick comparison versus the outlook we gave, special steel shipments we were indicating to be lower, which means 5-10% lower, and the outcome was just below that with 11%. Europe division, we were indicating to be significantly lower, and that's meaning over 10%, and the outcome was in line with 18% lower shipments. And then Americas, we were indicating to be somewhat lower, which means up to 5% reduction, and the outcome was below that with 10%. and to keep in mind that we did have the maintenance outages in the Nordic mills during the quarter. If we then move to revenue graph, you can see that the outcome Q3 was just below 23 billion. Compared to previous quarter, the reduction is 2.7 billion, and compared to previous year Q3, the reduction is 1.4 billion. And a similar comparison with the prices outlook we gave. We were indicating Special Steel Division and Europe Division to be stable in prices, and they were actually slightly better, 1-2% higher compared to previous quarter. And then in Americas, we were guiding higher prices, 5% to 10%, and the outcome was below that with only 1% increase. And as Jonny already mentioned, the market conditions having impact on that. EBITDA performance Q3 at 2.9 billion, reduction versus previous quarter of 3.2 billion, but improvement compared to previous year Q3, which was 2.3. And in relative terms, if we do the comparison of Q3 versus previous year, last year the margin was 9.5%, while this year it was better on a level of 12.6%. So, improvement. And if we continue with more detailed analysis of the quarters. Firstly, we compare the operating result, Q3 versus previous quarter. Outcome in Q3 was 1.9 billion. The second quarter was 2.1, and here we have a positive and negative impact, if we start analysing the prices. Biggest contribution coming from Europe division, 570 million, followed by Special Steel division, 110 million. Both of these were supported with the good premium mix. And then America's also positive impact of 85 million. So the total impact of prices to the result is this 765. To mention, Tipnu and Rukki construction prices were flat quarter on quarter. If we then continue to analyze the volume impact, total impact was this 915 million SEK. I already mentioned the shipments were lower, 14% lower, quarter on quarter. Biggest contribution here coming from Europe division, where volumes were 158 kilotons lower. America's 47 and Special Steel's 36 kilotons lower. And already shown previously in the graphs, rookie construction had seasonally higher sales volumes. and Tipno had lower sales volumes. Then if we have a look at the variable cost, the net impact on the result was negative 305. We know that the raw material cost did come down in iron ore, coking coal and scrap, But this is also including the change in inventory impact. And previous quarter, we had higher positive impact than this quarter. Thus, the BRITS analysis shows a negative trend here. Fixed cost. In the fixed cost, we were lower. This is typical seasonally lower fixed cost due to summer period, but we also had some saving activities taking place during the quarter. Capacity utilization, negative impact of 390. And the majority of this is related to the maintenance outages during Q3. We didn't have any during Q2. If we do the comparison now against the previous year quarter, outcome last year being 1.2 compared to 1.9 this year. Starting with prices, the total negative net impact 790. Prices were on average 7% lower than last year. Both Special Steel and Europe division having a negative impact. Special Steel division with 490. Europe division 470, while Americas had a positive impact here around 200 million. To point out that here we have a rather large impact of the FX, total negative impact of 560 million. So the currency definitely had an impact in this analysis. However, that is compensated almost fully by the lower variable cost, and the FX impact there is a positive around half a billion. On top of that, we have lower raw material cost, and if we split this variable cost positive impact per division, Special Steel Division is contributing most with 645 million, Europe 510, and America's 490. But majority of this 490 is actually related to the maintenance cost that took place last year that we didn't have during this year. Fixed cost slightly higher than last year. To mention that last year we had the full profit sharing provision reversal done during Q3, which we didn't have this year. We only took part of that reversal this year. And then the capacity utilization. We have a positive impact of 105. Last year, we had more maintenance outages. We had outages in Montpellier mill, and also Luuleo had more extensive maintenance outages last year. If we then continue to look at the cash flow, Already mentioned that we had a positive operating cash flow as well as net cash flow. Quarterly comparison year over year, EBITDA on a higher level. Change in working capital both quarters this year and last year having a positive impact. Maintenance expenditures a bit higher than last year. And to remind that the other line here is related to the CO2 emission swap transactions. We had also these transactions during third quarter as we did last year. And then if we look further down at the investments when it comes to strategic projects, we can see that a bit more than one billion increase compared to last year. And majority of this is related to Luleå Minimill. And as Jonny mentioned, the construction phase has now started. And this is leading to net cash position of 10.8 billion. This is very stable compared to previous quarter, which was 10.9 billion, and thus the net gearing on exactly the same level last quarter as end of Q3, being within our financial targets, and the outcome was minus 16%. Raw material prices, as the graph is illustrating, have come down compared to last year. Iron ore reduction quarter over quarter was 10% and even a bit more compared to previous year. While the coking coal prices have been a bit more stable quarter on quarter, but when comparing last year level, it's more than 20% reduction in the prices. Scrap prices in the US have been more stable than the other raw materials, quarter on quarter rather stable, but slightly below previous year level. And the outlook is that the Nordic mills will still get some benefit from the lower raw material consumption cost during Q4. And we expect that the scrap prices would remain rather stable also during the coming quarter. Maintenance table. This we have updated slightly since last time we showed this. Last time it was 1,570 million, while now it's 1,530 million. And as the table is illustrating, Q3, we had the maintenance impacting our production volumes and the cost, and even more so during Q4, when we have more maintenance taking place during the quarter. And the CAPEX guidance, we have not changed. We still plan to spend 10 billion during the year, three of that related to maintenance CAPEX and seven related to the strategic CAPEX. And with this, I give it back to Jonny.