Financial Review

Annual Report 2025

This Board of Directors’ report and financial statements are a non-official and translated version from Vaisala’s official financial statements and Board of Directors’ report in accordance with ESEF regulations.

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Board of Directors’ Report 2025

The global business landscape remained uncertain in 2025, marked by geopolitical tensions, trade policy shifts, and currency fluctuations. Amidst a changing market environment, Vaisala delivered a solid performance in 2025. The Industrial Measurements business area returned to growth after two flat years, demonstrating strong performance across market segments and reaching a record-high orders received and net sales. The Weather and Environment business area faced challenges in the renewable energy markets but delivered on its strong order book in the meteorology and aviation markets, where the demand normalized in 2025 after two exceptionally strong years. Subscription sales growth was further boosted by the addition of new businesses acquired in the fourth quarter of 2024.

Vaisala’s net sales increased by 6% in 2025 compared to the previous year, reaching EUR 596.9 million (564.6). In constant currencies, net sales grew by 7%. The depreciation of the US dollar and Chinese yuan negatively affected reported figures, particularly in the Industrial Measurements and subscription sales. Vaisala’s EBITA for 2025 was EUR 94.2 million (90.3), representing 15.8 (16.0) % of net sales. Cash conversion remained strong at 1.1 (1.0).

The company continued to invest in research and development to maintain its technological and market leadership, with R&D expenses accounting for 11.4 (12.1) % of net sales. To support its strategy execution and enable further growth, Vaisala also strengthened its sales capabilities within growth areas and made long-term investments in its Operations, where a new automated logistics center was completed during the year.

Earnings per share in 2025 were EUR 1.65 (1.76). The Board of Directors proposes to the Annual General Meeting that a dividend of EUR 0.86 (0.85) per share be paid out of distributable earnings totaling EUR 31.2 (30.8) million.

* Excluding the impact of acquired businesses

* Change with comparable exchange rates

In 2025, Vaisala’s orders received decreased by 9% compared to the previous year and totaled EUR 517.2 million (EUR 565.6 million in 2024). In constant currencies, orders received decreased by 7%. Orders received does not include subscription business. The decline in orders received was attributable to the Weather and Environment business area, where the demand decreased very strongly, by 23%, due to the headwinds in the renewable energy market as well as due to normalization of the meteorology and aviation markets compared to exceptionally high levels in the previous two years. In contrast, the Industrial Measurements business area saw a strong 12% increase in orders received, with growth in all market segments: industrial, life science and power.

At the end of 2025, Vaisala’s order book amounted to EUR 185.8 million, which is 14% below the level at the end of the previous year (Dec 31, 2024: EUR 215.0 million). The decline in order book was attributable to the

Financial review 2025

Calculation of key figures is presented after the Board of Directors’ Report.

Weather and Environment business area’s subscription business has been excluded from orders received and order book.

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Weather and Environment business area, where the order book decreased very strongly, by 19%, from year-end 2024. In the Industrial Measurements business area, order book at the end of 2025 was 13% above the level at the end of 2024. 76% of Vaisala’s book, EUR 140.4 million, is scheduled to be delivered during the current year (Dec 31, 2024: EUR 164.6 million). The EUR 25 million award for a project of airport weather systems and equipment to modernize 14 Indonesian airports, announced in August 2024, is not included in the order book. The project will be included in orders received if the customer secures financing by the end of Q2/2026.

* Amortization and impairment of intangible assets and income and expenses related to (non- operative) earn-outs related to acquired businesses.

** Change with comparable exchange rates

Vaisala’s year 2025 net sales increased by 6% compared to the previous year reaching EUR 596.9 (564.6) million. In constant currencies, net sales grew by 7%. Net sales increased in both business areas. Industrial Measurements returned to growth after two flat years, ending up with 9% net sales growth (12% net sales growth in constant currencies). Weather and Environment business area delivered on its strong order book, boosted by strong growth in subscription sales, which led to 3% net sales growth (4% net sales growth in constant currencies).

The new businesses (Maxar’s WeatherDesk, Speedwell Climate, and Nevis Technology acquired in Q4/2024 and Quanterra Systems acquired in Q3/2025), contributed EUR 18.6 million to the net sales compared to 2024. Excluding these acquisitions, Vaisala’s net sales increased by 2%. The acquisitions contributed mostly to subscription sales, which grew by 50% compared to the previous year. Organic growth of subscription sales was 9% in 2025 compared to 2024. The depreciation of the US dollar impacted negatively the reported subscription sales. In constant currencies, the organic growth of subscription sales was 11%.

Geographically, Vaisala’s 2025 net sales growth was driven by the Americas and EMEA regions, with both reaching double-digit growth compared to the previous year. In Americas, net sales growth was driven by strong Industrial Measurements sales and subscription sales. In EMEA, large project deliveries in the Weather and Environment business area supported the net sales growth. Despite the growth in Industrial Measurements, Vaisala’s net sales in the APAC region declined strongly, driven by the headwinds in the renewable energy markets. Depreciation of the US dollar and Chinese yuan against the euro had a negative impact on reported net sales in the Americas and APAC regions. Operations outside Finland accounted for 99 (98) % of net sales.

Vaisala’s 2025 gross margin decreased to 55.2 (56.3) % mainly due to exchange rates impact, proportional impacts of the US tariffs, as well as decline in the high-margin renewable energy business.

Operating expenses increased in 2025 compared to the previous year mainly as a result of operating expenses related to acquired businesses in the Weather and Environment business area and investments in sales and commercial excellence in the Industrial Measurements business area. The increase in operating expenses was partly offset by cost control measures in the Weather and Environment business area. Operating expenses

include EUR 4.9 million of one-off costs mainly related to organizational restructurings.

EBITA increased to EUR 94.2 (90.3) million, 15.8 (16.0) % of net sales. EBITA and EBIT margins were close to the previous year’s level, and exchange rates had a negative impact on the year 2025 margins.

In 2025, financial income and expenses were EUR -8.2 (-2.4) million. This was mainly a result of valuation of USD denominated items, USD currency hedging and interest expenses. Income taxes were EUR 17.4 (17.0) million and effective tax rate was 22.5 (21.1) %. Result before taxes was EUR 77.1 (80.8) million and result for the period was EUR 59.8 (63.7) million. Earnings per share was EUR 1.65 (1.76).

Statement of financial position and cash flow

Vaisala’s financial position remained strong during January–December 2025. At the end of December, statement of financial position totaled EUR 588.9 (589.4) million. Net debt amounted to EUR 14.3 (40.6) million. Cash and cash equivalents totaled EUR 92.8 (88.8) million. Dividend payment, decided by the Annual General Meeting on March 25, 2025, totaled EUR 30.9 million. On December 31, 2025, Vaisala had interest-bearing borrowings totaling EUR 85.0 (105.0) million. In October 2025, Vaisala made a voluntary prepayment of EUR 20.0 million regarding EUR 35.0 million unsecured term loan. The remaining term loan is due in 2026. The loan has a financial covenant (gearing), tested semi-annually. On December 31, 2025, Vaisala was in compliance with the covenant. In addition, Vaisala has EUR 70.0 million unsecured term loan which was signed on December 2, 2024. The loan matures three years after the signing date and has a financial covenant (gearing), which is tested semi-annually. On December 31, 2025, Vaisala was in compliance with the covenant. Vaisala had not issued any domestic commercial papers on December 31, 2025, as at the end of 2024. Vaisala has also a EUR 50 million committed revolving credit facility, which was undrawn on December 31, 2025, as at the end of 2024. Vaisala exercised second of the two one-year extension options of the facility in third quarter and hence the revolving credit facility expires on October 5, 2028. The facility agreement includes a financial covenant (gearing), tested semi-annually. On December 31, 2025, Vaisala was in

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compliance with the covenant. In addition, interest-bearing lease liabilities totaled EUR 22.0 (24.5) million.

In 2025, cash flow from operating activities increased to EUR 90.4 (78.9) million. This was mainly a result of improved net working capital.

Capital expenditure and acquisitions

In 2025, capital expenditure in intangible assets and property, plant, and equipment totaled EUR 21.4 (19.1) million. Capital expenditure was mainly related to investments in facilities as well as in machinery and equipment to develop and maintain Vaisala’s production, R&D, and service operations.

The construction of Vaisala’s new automated logistics center in Vantaa, Finland, which began in 2024, was completed in the third quarter 2025. The investment amounted to EUR 8.3 million. The new logistics center was gradually taken in use during the fourth quarter. With new automation technology, the facility centralizes Vaisala’s logistics operations in Finland, ensuring fast and efficient deliveries to customers around the world.

Depreciation, amortization, and impairment were EUR 27.7 (24.3) million. This included EUR 9.1 (7.5) million of amortization of identified intangible assets related to the acquired businesses.

In September 2025, Vaisala announced an acquisition of its client, Quanterra Systems Ltd, a company specializing in atmospheric monitoring of CO₂ fluxes. With the acquisition, Vaisala is expanding its business in greenhouse gas measurements. Quanterra offers site-specific atmospheric carbon monitoring for nature-based industries such as agri-food and biofuels, as well as public and private research communities, including carbon certification and trading markets.

Research and development

Product and technology leadership from sensors and instruments to the latest artificial intelligence and machine learning technologies is the very core of Vaisala. Vaisala’s measurement solutions are based on a thorough understanding of its customers’ needs in diverse industries and applications from industrial processes and life science to meteorology,

renewable energy, finance and insurance. Vaisala leverages digital insights and continuously collaborates with its customers and partners to meet their measurement requirements and enable climate action. In addition to its own research and development work, scientific collaboration strengthens the company’s position as an industry pioneer and an innovative technology leader. To secure the technology and market leadership, Vaisala invests strongly in its growth markets and makes significant investments in research and development.

In 2025, Vaisala’s research and development costs were EUR 68.3 (68.6) million, 11.4 (12.1) % of net sales. Research and development costs include both development of new products and software as well as maintenance and further development of services and existing products. During the past years, research and development focus has shifted towards development of new technologies and products.

Research and development costs are recognized as costs in the financial year in which they incur, except for machinery and equipment acquired for research and development purposes, which are capitalized and depreciated on a straight-line basis. More information on accounting principles is available in Consolidated Financial Statements note 8. Research and development expenditure.

Further information about major product launches in 2025 is presented in the chapter Strategy and its implementation in 2025 in this Board of Directors’ Report.

Personnel

The average number of personnel employed in 2025 was 2,486 (2,368). At the end of December 2025, the number of employees was 2,465 (2,439). 77 (76) % of employees were located in EMEA, 16 (16) % in Americas and 8 (8) % in APAC. 64 (63) % of employees were based in Finland.

In Q3/2025, Vaisala acquired Quanterra Systems Ltd, and with the acquisition, 14 employees moved to Vaisala.

In 2025, personnel expenses totaled EUR 240.6 (225.3) million.

Vaisala has share-based incentive plans that are targeted to its key employees. In 2025, expenses related to share-based incentive plans totaled EUR 4.2 (2.5) million.

Further information about share-based incentive plans is available in Consolidated Financial Statements note 7. Share-based payments.

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2025 review by business area

* Amortization and impairment of intangible assets and income and expenses related to (non- operative) earn-outs related to acquired businesses.

** Change with comparable exchange rates

Industrial Measurements business area’s 2025 orders received increased by 12% compared to the previous year and totaled EUR 255.9 (228.1) million. In constant currencies, orders received increased by 15%. Demand grew in all market segments with particularly strong growth in life science and power markets. Growth in the industrial market segment was driven by data center and semiconductor industries as well as orders from industrial OEM's.

At the end of 2025 the Industrial Measurements business area’s order book amounted to EUR 41.9 (37.0) million and increased by 13% compared to the year-end 2024. 74% of the order book, EUR 31.1 million, is scheduled to be delivered during the current year (Dec 31, 2024: EUR 32.9 million).

In 2025, the Industrial Measurements business area’s net sales grew by 9% compared to the previous year and were EUR 247.8 (226.5) million. In constant currencies, net sales grew by 12%. The growth was driven by the Americas region, but net sales increased also in the EMEA and APAC regions. Net sales increased very strongly in the life science and power market segments. In industrial markets, net sales growth was driven by data center and semiconductor industries as well as sales to industrial OEM's.

Gross margin improved to 62.5 (61.9) % despite the proportional impacts of the US tariffs and unfavorable exchange rates.

Operating expenses increased compared to the previous year mainly as a result of investments in sales and commercial excellence as well as EUR 1.2 million one-off costs mainly related to organizational restructurings.

The Industrial Measurements business area’s EBITA increased compared to the previous year following the net sales growth and totaled EUR 52.9 (48.9) million, 21.4 (21.6) % of net sales.

Weather and Environment business area

The Weather and Environment business area provides critical weather and climate measurements and intelligence through advanced instruments, systems, and subscription-based data and software services. It enables customers – ranging from energy, technology and insurance companies to meteorological institutes and airport operators – to ensure people’s safety, protection of property, and efficient operations. Key market segments are meteorology, aviation, roads, and renewable energy.

* Amortization and impairment of intangible assets and income and expenses related to (non-operative) earn-outs related to acquired businesses

** Change with comparable exchange rates

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The Weather and Environment business area’s 2025 orders received decreased by 23% (-22% in constant currencies) compared to the previous year and totaled EUR 261.3 (337.6) million. Orders received does not include subscription business. Orders received decreased very strongly in all market segments, especially in renewable energy market, where the demand remained weak throughout the year. Additionally, meteorology and aviation market segments saw a very strong decline in demand after exceptionally high levels in the previous two years. The project to deliver seven weather radars and a lightning detection network to Greece, announced on April 1, 2025, was included in the first quarter orders received.

At the end of 2025, the Weather and Environment business area’s order book amounted to EUR 143.9 (178.0) million and decreased by 19% compared to the year-end 2024. 72% of the order book, EUR 104.3 million, is scheduled to be delivered during the current year (Dec 31, 2024: EUR 131.7 million). The EUR 25 million award for a project of airport weather systems and equipment to modernize 14 Indonesian airports, announced in August 2024, is not included in the order book. The project will be included in orders received if the customer secures financing by the end of Q2/2026.

In 2025, the Weather and Environment business area’s net sales grew by 3% (4% in constant currencies) compared to the previous year and were EUR 349.1 (338.2) million. The growth was driven by subscription sales as well as large project deliveries in the meteorology market segment. In aviation and roads markets, net sales decreased slightly whereas the renewable energy market segment saw a very strong decline in net sales. Subscription sales grew by 50%, boosted by the acquisitions of WeatherDesk and Speedwell Climate, which were closed during Q4/2024. Excluding the acquisitions, subscription sales increased by 9%. The depreciation of the US dollar impacted negatively the reported subscription sales. In constant currencies, the organic growth of subscription sales was 11%.

Gross margin declined to 50.1 (52.6) % mainly because of the decline in the high-margin renewable energy business. Exchange rates and

proportional impacts of the US tariffs had a minor negative effect on the Weather and Environment business area’s gross margin in 2025.

Operating expenses were close to the previous year’s level and included operating expenses related to acquired businesses and EUR 3.7 million one-off costs related mainly to organizational restructurings. Cost-control measures, primarily in the renewable energy business, helped reduce operating expenses, offsetting increases elsewhere.

The Weather and Environment business area’s EBITA was at the previous year’s level at EUR 41.3 (41.3) million, 11.8 (12.2) % of net sales.

Strategy and its implementation in 2025

Vaisala’s strategy focuses on driving sustainable growth and global leadership in measurement instruments and intelligence for climate action. Through its products and technologies, Vaisala enables its customers to optimize critical production processes, accelerate energy transition and decarbonization, and protect people and assets from the impacts of climate change.

Vaisala leverages artificial intelligence and machine learning to provide advanced weather intelligence, equipping customers with the data they need to make informed decisions and take timely protective actions.

The company’s purpose Taking every measure for the planet emphasizes Vaisala’s active role in enabling data-driven climate action. This demonstrates how Vaisala’s measurement technologies provide customers with relevant data to improve operations and create positive climate impact while showing the company’s full commitment to sustainability.

Vaisala pins its strategy on four key success drivers: deep customer understanding and commercial excellence, product and technology leadership from sensors to digital solutions; excellence in supply chain; and purpose-driven culture and talent.

To complement the success drivers of its strategy, Vaisala has identified four strategic priorities for execution to both sustain its market leadership and expand into new markets with growth opportunities. Vaisala 1) continues its growth in industrials with breakthrough technologies, 2)

grows share of services and software revenue, 3) drives profitability as a global leader in weather, and 4) simplifies and scales its operations for greater impact and efficiency. The strategy is implemented by managing different types of businesses in a different way by focusing on growth and/ or profitability.

Long-term financial targets

In line with the strategic objectives, Vaisala’s long-term financial targets are average sales growth 7%, systematically improving EBITA %, and to maintain strong cash conversion over time. Vaisala does not consider the long-term financial targets as market guidance for any given year.

Sustainability

Vaisala is committed to emission reduction targets aligned with the requirements of the Science-Based Targets initiative (SBTi). In accordance with the targets, Vaisala is committed to reducing its absolute scope 1 and 2 GHG emissions 52% by 2030 from a 2021 base year*. Vaisala is also committed to reducing its scope 3 GHG emissions from purchased goods and services, upstream transportation and distribution, business travel, employee commuting, and use of sold products 52% per million EUR value added by 2030 from a 2021 base year.

In 2025, Vaisala continued to advance toward its emission reduction targets. Compared with the 2021 base year, scope 1 and 2 emissions were 22% lower, and scope 3 emissions relative to gross profit were 33% lower.

As Vaisala has used 100% renewable electricity since 2020, emissions from its own operations remain very small. More than 99% of Vaisala’s total emissions originate from the company’s value chain, particularly from the energy consumption and material use of its products. To reduce these emissions, Vaisala is designing new products with lower energy consumption and smaller carbon footprints as well as identifying and implementing emission reduction opportunities together with its suppliers.

Further information about sustainability is available in the sustainability statement included in this Board of Directors’ Report.

* The target boundary includes land-related emissions and removals from bioenergy feedstocks.

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Industrial Measurements business area

Industrial Measurements business area is empowering customers with accurate real-time insights into their critical processes to optimize resource use and to drive decarbonization. The business area is leveraging its solid foundation to accelerate growth with focus on key industries – life science, data centers, semiconductors, battery manufacturing, and power – as well as deepening customer relationships and accelerating services growth.

In 2025, Industrial Measurements returned to growth after two challenging years. Net sales growth was very strong in life science and power markets. In the industrial market segment, net sales grew somewhat compared to the previous year, driven by data center and semiconductor industries as well as sales to industrial OEMs.

Accelerating the services growth is one of the strategic focus areas in Industrial Measurements, and in 2025 the business area launched a new probe recalibration and reuse service Vaisala Circular. Under Vaisala Circular, customers have a dedicated pool of measurement probes stored and maintained at Vaisala’s service centers. When calibration is necessary, customers order replacement probes from Vaisala online and swap them in, which minimizes measurement downtime.

Industrial Measurements leverages its strong technology capabilities to extend and upgrade its product offerings. In 2025, the business area launched a new measurement probe for improved dry room control. The new Vaisala DMP1 probe provides precise measurements in demanding dry processing conditions, such as those found in lithium-ion battery production, where humidity control is critical to the performance of manufactured batteries.

For the growing power industry, Industrial Measurements introduced an enhanced version of its OPT100 DGA monitor for transformer online monitoring. OPT100 is designed to reduce the possibility of unplanned outages and help prevent transformer failures by enabling data-driven decision-making. The enhanced version includes oxygen and nitrogen as optional new parameters.

Weather and Environment business area

The Weather and Environment business area seeks growth by expanding its Xweather subscription business and drives profitability as a global leader in weather. The Weather and Environment business area plays a vital role in helping societies and businesses understand, mitigate, and adapt to climate risks and extreme weather. In meteorology, aviation, and renewable energy markets, the business area’s priority is to maintain its global leadership position with focus on profitability.

In its Xweather subscription business, the Weather and Environment business area aims to grow as a leading B2B weather intelligence provider by building scalable software and data models that help customers anticipate and act on weather-related risks. The business focuses on growing recurring revenue through Data as a Service and Solutions as a Service in core segments: transportation and logistics, energy and utilities, and finance and insurance.

In 2025, the Weather and Environment business area continued to deliver large projects in the meteorology and aviation markets, such as upgrading Spain’s weather radar network (a deal won in 2024) and modernizing Greece’s weather monitoring infrastructure (a deal won in 2025). The previous two years have been exceptional in the meteorology and aviation markets, driven by various modernization projects, and in 2025 these markets have normalized and returned to their historical growth rates.

Renewable energy market faced headwinds in 2025 as Vaisala’s core wind resource assessment market slowed down significantly. The Weather and Environment business area implemented necessary cost-control measures and adjusted its organization to address the change in demand in the renewable energy market.

The Weather and Environment business area continued to expand its Xweather subscription business in 2025. Organic growth was boosted by the new businesses – WeatherDesk and Speedwell Climate – acquired in Q4/2024. The new businesses were successfully integrated into Xweather during the year.

To maintain its technology leadership in weather and climate observations and weather intelligence, the Weather and Environment business area keeps enhancing its offerings.

The business area launched advanced hail forecast alerts within the Xweather Protect severe weather monitoring platform. The new capability provides solar energy operators with precise, site-specific warnings up to 60 minutes before hailstorms strike, enabling critical asset protection measures. Another new launch in the Xweather subscription business was a new Model Context Protocol (MCP) integration, which connects AI models, such as ChatGPT and Claude, to real-time meteorological data.

The Weather and Environment business area also continued to enhance and upgrade its offerings, and introduced WindCube 2.1 XP, an evolution of its vertical profiler wind lidar, which provides enhanced accuracy, increased data availability, and robust performance in clean air and complex terrain. Other upprades included AviMet 10, the latest enhancement to Vaisala’s aviation weather management system as well as Vaisala Elements Helideck Monitoring Software to optimize offshore operations. The software seamlessly integrates high-resolution vertical wind profiling from the WindCube lidar suite, advanced lightning detection, and both graphical and data forecasts from Vaisala Xweather.

To expand its capabilities in greenhouse gas measurements, Vaisala acquired Quanterra Systems, a company specializing in atmospheric monitoring of CO₂ fluxes, in September 2025. Quanterra offers site- specific atmospheric carbon monitoring for nature-based industries such as agri-food and biofuels, as well as public and private research communities, including carbon certification and trading markets.

Production

Vaisala's Operations organization sources, manufactures, and ships all Vaisala’s products for both business areas and develops Vaisala Production System.

In 2025, Operations prepared for future growth by developing and scaling the production and logistics capabilities, increasing automation, and strengthening the supply chain resilience.

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The construction of Vaisala’s new automated logistics center in Vantaa, Finland, which began in 2024, was completed in the third quarter 2025 and gradually taken in use during the fourth quarter. With new automation technology, the facility centralizes Vaisala’s logistics operations in Finland, doubling the logistics capacity and ensuring fast and efficient deliveries to customers around the world.

Operations continued advancing the Smart Factory concept focusing on scalability, increasing automation, and building new data capabilities. Cleanroom renewal continued with the Wafer Fab expansion, which is expected to be completed during the first half of the year 2026. The renewal will increase the cleanroom capacity, enable the adoption of new production technologies and improve the quality of the cleanroom facilities.

Risk management

The objective of Vaisala’s risk management is to identify and assess key risk factors in Vaisala’s operations and business environment, and to manage these factors so that Vaisala can achieve its strategic, financial, and other objectives.

Vaisala’s Risk Management Policy is approved by the Board of Directors, and it describes Vaisala’s risk management principles, risk management framework, roles and responsibilities, and risk management process.

Risk management is integrated into business operations, processes and decision-making. Risk ownership follows business ownership and existing risk management practices and processes are regularly evaluated and updated, as necessary, by the risk owners. Everyone at Vaisala is responsible for maintaining risk awareness, identifying risks, and reporting risks as appropriate.

The most material risks and their risk management plans are regularly reviewed and risks requiring immediate attention are addressed to Vaisala’s Leadership Team. The Board’s Audit Committee monitors and assesses the efficiency of risk management at Vaisala and approves risk management-related plans.

Vaisala is exposed to different strategic, hazard, operational, and financial risks, that may arise from external factors or its own operations. These risks may have an adverse effect on Vaisala’s business operations, financial position and as a result on the value of the company.

Strategic risks potentially have the most significant impact on Vaisala’s long-term value drivers. The most significant strategic risks for Vaisala are changes in market dynamics and trends, and changes in competitive environment. Vaisala mitigates strategic risks through a balanced global reach, varied customer base and deep expertise in advanced technologies to maintain competitive advantage.

The most significant hazard risks for Vaisala are associated with its production environments. If these risks materialize, they could lead to production disruptions or delays in customer deliveries. Key risks include prolonged disruptions in manufacturing – especially sensor manufacturing – major hazards at a factory or critical warehouse, as well as natural disasters, war, or acts of terrorism. Hazard risks associated with manufacturing operations and manufacturing and warehouse facilities are managed through forecasting, the use of duplicate and commercial off-the-shelf equipment, manufacturing partnerships, business continuity planning, and insurance protection.

The most significant operational risks for Vaisala’s operations relate to suppliers and potential extended unavailability or disruption of IT and other critical digital infrastructure, resulting from software failures, power outages, cyberattacks, malware, or similar causes. If realized, these risks could result in production delays or stoppages, major service unavailability, interruptions in operations, financial loss, or loss of critical data. Supplier- related risks are managed by maintaining a stable supplier base and implementing systematic supplier evaluation, selection, and management processes, as well as by conducting business continuity planning with strategic suppliers. Additionally, various sourcing strategies are used, along with the development of a regional supply chain and increased multi-site manufacturing capability. Risks related to IT and critical software are managed through system redundancy and by having robust digital and IT security solutions and disaster recovery plans for critical services.

The most relevant financial risks for Vaisala are currency risk, liquidity and refinancing risk, interest rate risk, and credit risk. These risks are managed through currency hedging and cash flow management, maintaining a sustainable capital structure and debt maturity profile, and by monitoring debt levels and credit ratings, as well as using interest rate derivatives. Credit risk is limited by a diverse customer base, as well as by credit checks and payment security arrangements.

Further information about risk management and risks is available in the Governance/Risk Management section in the Annual Report 2025, in Consolidated Financial Statements note 19. Financial risk management, and on the company’s website at vaisala.com . Near-term risks and uncertainties are described later in this Board of Directors’ Report.

Group structure

Vaisala’s headquarters is located in Vantaa, Finland. On December 31, 2025, Vaisala had subsidiaries in Australia, Brazil, Canada, China, Finland, France, Germany, India, Japan, Kenya, South-Korea, Malaysia, Mexico, Sweden, United Kingdom, and United States. The parent company has branches in Argentina and Colombia.

Board of Directors

The Annual General Meeting held on March 25, 2025 confirmed that the number of Board members is seven.

Members of the Board of Directors on December 31, 2025:

Ville Voipio, Chair

Raimo Voipio, Vice Chair

Annica Bresky

Antti Jääskeläinen

Lotte Rosenberg

Kaarina Ståhlberg

Tuomas Syrjänen

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Leadership Team

Vaisala made changes in its leadership team as of January 1, 2025, as announced in the fourth quarter of 2024. Jarkko Sairanen, previously EVP Weather and Environment, started to lead the Industrial Measurements business area, while the previous EVP Industrial Measurements Sampsa Lahtinen retired at the end of 2024. The business leadership for Vaisala’s Weather and Environment business area was divided between Anne Jalkala and Samuli Hänninen. Anne Jalkala, previously Chief Sustainability and Strategy Officer was appointed to lead the Weather, Energy and Environment business, and Samuli Hänninen joined the leadership team continuing to lead the Xweather business. Lorenzo Gulli joined the leadership team in January 2025 as EVP, Strategy and M&A. The composition of the new leadership team remained the same throughout the year 2025.

On December 31, 2025, Vaisala’s Leadership Team members were

Kai Öist ämö, President and CEO, Chair of the Leadership Team

Girish Agarwal, Chief Digital and Information Officer

Lorenzo Gulli, EVP, Strategy and M&A

Samuli Hänninen, EVP, Xweather

Anne Jalkala, EVP, Weather, Energy and Environment

Timo Leskinen, EVP, People and Corporate Affairs

Heli Lindfors, Chief Financial Officer

Vesa Pylvänäinen, EVP, Operations

Jarkko Sairanen, EVP, Industrial Measurements

Katriina Vainio, EVP, Group General Counsel

Annual General Meeting 2025

Vaisala Corporation’s Annual General Meeting was held on March 25, 2025. The meeting approved the financial statements and discharged the members of the Board of Directors and the President and CEO from liability for the financial period January 1–December 31, 2024.