Looking at the progress we have made, our operations have undergone significant development during the year, as we have expanded our offering to include the maintenance of electric locomotives. Through this new business area, we are strengthening our role and broadening our services into a one-stop shop where customers can access both locomotive and wagon maintenance from a single supplier — delivering valuable synergies. We currently operate a locomotive workshop in Ånge, but in the longer term our ambition is also to offer mobile maintenance for locomotives.

This past winter, we changed business systems — moving from IFS to the cloud-based Microsoft Dynamics 365 Business Central, with its accompanying Field Service module for work order management.

The new system is modern and flexible, and has the capacity to meet our customers' expectations for a seamless digital experience over time.

With this platform in place, we have laid the foundation for our continued digitalisation journey.

The transition to the new business system, carried out in parallel with normal day-to-day operations, has been a considerable undertaking — but also clear evidence of the strong teamwork between our employees and our dedicated IT partners.

When it comes to our sustainability work on climate and the environment, much of it centres on reuse, which is an integrated part of our strategy to reduce environmental impact and create more circular processes. One example is our focus on extending the lifespan of freight wagons and electric locomotives, as well as wheels and components, through careful maintenance and repairs. In doing so, we reduce the need for new production and save costs, resources, and energy — contributing to both our customers' and our own sustainability goals.

Demands to deliver both quality and sustainability are constantly rising. To meet these demands, we are expanding our workshop capacity in Gävle with a fourth track — an increase of 33%. This fits well with Green Cargo's new traffic concept, which is based in Gävle and runs along the coast, reducing wagon transport to and from the workshop. The expansion also provides an opportunity to optimise our processes in support of reuse and extended vehicle lifespans — an important step towards further strengthening our work on sustainability and the circular economy.

Regarding reporting requirements, we are carefully preparing for the EU's decisions and gearing up to report in accordance with whatever requirements are placed on us. During the year, we have received a great deal of help from two Chalmers students, who had the opportunity to carry out their thesis project with us. The result was a thorough report with recommendations and valuable insights. With their help, we have conducted a double materiality analysis of our upstream and downstream impacts in the value chain, and obtained an updated stakeholder analysis as an important tool going forward.

To report further progress and even better results, we are continuing our work on energy efficiency, reuse, and climate-smart solutions. We see it as our task — together with our customers and partners — to create the best possible conditions for an attractive and sustainable Swedish rail freight sector.

I would like to thank our employees, customers, and partners for their commitment and trust. Through continued dialogue, innovation, and collaboration, we will ensure that the wheels keep turning towards a better future!

Malmö, October 2025