SCHEDULE 13D/A 0001407029 XXXXXXXX LIVE 2 Ordinary Shares, par value EUR 0.10 per ordinary share 08/25/2025 false 0001988894 G0260P102 Amer Sports, Inc.

Cricket Square, Hutchins Drive P.O. Box 2681 Grand Cayman E9 KY1-1111

Dennis J. Wilson 604-737-7232 21 Water Street, Suite 600 Vancouver A1 V6B 1A1 William Brentani 650-251-5110 2475 Hanover Street Palo Alto CA 94304 0001407029 N Dennis J. Wilson OO N Z4 99962978 99962978 99962978 N 18.0 IN Y Anamered Investments, Inc. OO N D8 75039902 75039902 75039902 N 13.5 CO Y IVIVA Holdings Ltd. OO N A1 24923076 24923076 24923076 N 4.5 CO Y LIPO Investments (USA), Inc. OO N A1 24923076 24923076 24923076 N 4.5 CO Y Five Boys Investments ULC OO N A1 99962978 99962978 99962978 N 18.0 OO Ordinary Shares, par value EUR 0.10 per ordinary share Amer Sports, Inc. Cricket Square, Hutchins Drive P.O. Box 2681 Grand Cayman E9 KY1-1111 This Amendment No. 2 (this "Amendment") amends the initial statement on Schedule 13D filed with the Securities and Exchange Commission (the "Commission") on February 15, 2024, as amended by Amendment No. 1 thereto filed with the Commission on December 12, 2024 (as so amended, the "Schedule 13D"). Capitalized terms used but not otherwise defined herein shall have the meanings set forth in the Schedule 13D. Except as set forth herein, the Schedule 13D is unmodified. Item 4 of the Schedule 13D is hereby amended and supplemented by the following: On August 25, 2025, Anamered Investments Inc. ("Anamered") sold an aggregate of 4,054,054 Ordinary Shares pursuant to an unregistered block sale transaction with an unaffiliated broker dealer pursuant to Rule 144 under the Securities Act of 1933, as amended, for net proceeds of approximately $159,729,728 (the "Sale"). The Reporting Persons do not currently intend to sell any additional Ordinary Shares until at least 90 days from the date of the Sale have elapsed, although they reserve the right to review, reconsider and change their position with respect to the Issuer and the Ordinary Shares. Item 5(a) and (b) are hereby amended and restated in their entirety as follows: Anamered directly owns 75,039,902 Ordinary Shares and IVIVA Holdings Ltd. ("IVIVA") directly owns 24,923,076 Ordinary Shares. LIPO Investments (USA), Inc. ("LIPO") is the sole shareholder of IVIVA and may be deemed to beneficially own the Ordinary Shares directly held by IVIVA; Five Boys Investments ULC ("Five Boys") is the sole shareholder of Anamered and the owner (directly and indirectly) of LIPO and as such may be deemed to beneficially own the Ordinary Shares beneficially owned by Anamered and LIPO; Dennis Wilson controls Five Boys and may be deemed to beneficially own the Ordinary Shares beneficially owned by Five Boys. Neither the filing of the Schedule 13D or this Amendment nor any of its contents shall be deemed to constitute an admission that any Reporting Person is the beneficial owner of the Ordinary Shares referred to herein for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, or for any other purpose and each of the Reporting Persons expressly disclaims beneficial ownership of such Ordinary Shares. Any beneficial ownership of Ordinary Shares by any of the persons listed on Schedule I is set forth on Schedule I attached hereto. The aggregate number and percentage of the Ordinary Shares beneficially owned by each Reporting Person and, for each Reporting Person, the number of shares as to which there is sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition, or shared power to dispose or to direct the disposition are set forth on rows 7 through 11 and row 13 of the cover pages of this Amendment and are incorporated herein by reference. Calculation of the percentage of Ordinary Shares beneficially owned by Reporting Persons is based on 554,571,446 Ordinary Shares outstanding as of March 31, 2025 as disclosed in the final prospectus filed by the Issuer with the Commission on May 30, 2025. See Item 5(a) above. Except as disclosed in this Amendment, none of the Reporting Persons or, to the best knowledge of the Reporting Persons, any other person named in Schedule I, has effected any transaction in Ordinary Shares in the past 60 days. Dennis J. Wilson /s/ Dennis J. Wilson 08/26/2025 Anamered Investments, Inc. /s/ Dennis J. Wilson 08/26/2025 IVIVA Holdings Ltd. /s/ Dennis J. Wilson 08/26/2025 LIPO Investments (USA), Inc. /s/ Dennis J. Wilson 08/26/2025 Five Boys Investments ULC /s/ Dennis J. Wilson 08/26/2025