<Page>
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                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                            ------------------------

                                   FORM 10-Q

            QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934

               FOR THE QUARTERLY PERIOD ENDED: SEPTEMBER 29, 2001

                       COMMISSION FILE NUMBER: 000-30027

                            ------------------------

                              MOLDFLOW CORPORATION
             (Exact name of registrant as specified in its charter)

<Table>
<S>                                            <C>
               DELAWARE                                     04-3406763
    (State or other jurisdiction of            (I.R.S. Employer Identification No.)
    incorporation or organization)
</Table>

                    430 BOSTON POST ROAD, WAYLAND, MA 01778
          (Address of principal executive offices, including zip code)

                                 (508) 358-5848
              (Registrant's telephone number, including area code)

                            ------------------------

    Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes /X/  No / /

    There were 10,120,332 shares of our common stock, par value $0.01,
outstanding on November 9, 2001.

--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
<Page>
                              MOLDFLOW CORPORATION
                                   FORM 10-Q
                    FOR THE QUARTER ENDED SEPTEMBER 29, 2001

                               TABLE OF CONTENTS

<Table>
<Caption>
                                                                         PAGE
                                                                        NUMBER
                                                                       --------
<S>      <C>                                                           <C>
Part I. FINANCIAL INFORMATION
Item 1.  Financial Statements
         Consolidated Balance Sheet as of September 29, 2001 and
           June 30, 2001.............................................      2
         Consolidated Statement of Income for the three months ended
           September 29, 2001 and September 30, 2000.................      3
         Consolidated Statement of Cash Flows for the three months
           ended September 29, 2001 and September 30, 2000...........      4
         Notes to Consolidated Financial Statements..................      5
Item 2.  Management's Discussion and Analysis of Financial Condition
           and Results of Operations.................................     12
Item 3.  Quantitative and Qualitative Disclosures About Market
           Risk......................................................     21

Part II. OTHER INFORMATION
Item 1.  Legal Proceedings...........................................     22
Item 2.  Changes in Securities and Use of Proceeds...................     22
Item 6.  Exhibits and Reports on Form 8-K............................     22
Signatures...........................................................     23
</Table>

                                       1
<Page>
                         PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

                              MOLDFLOW CORPORATION

                           CONSOLIDATED BALANCE SHEET

                                 (IN THOUSANDS)

                                  (UNAUDITED)

<Table>
<Caption>
                                                              SEPTEMBER 29,    JUNE 30,
                                                                  2001           2001
                                                              -------------   ----------
<S>                                                           <C>             <C>
ASSETS
Current assets:
  Cash and cash equivalents.................................     $41,824       $32,969
  Marketable securities.....................................       4,369        12,750
  Accounts receivable, net..................................       5,667         7,241
  Prepaid expenses and other current assets.................       2,743         3,309
                                                                 -------       -------
  Total current assets......................................      54,603        56,269
Fixed assets, net...........................................       4,323         4,027
Goodwill....................................................       8,789         8,003
Intangible assets, net......................................       1,864         2,814
Other assets................................................         354           342
                                                                 -------       -------
  Total assets..............................................     $69,933       $71,455
                                                                 =======       =======

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
  Accounts payable..........................................     $ 1,250       $ 1,040
  Accrued expenses..........................................       6,048         6,346
  Deferred revenue..........................................       5,901         6,372
                                                                 -------       -------
  Total current liabilities.................................      13,199        13,758
Other long-term liabilities.................................          86           104
                                                                 -------       -------
  Total liabilities.........................................      13,285        13,862
                                                                 -------       -------
Stockholders' equity:
  Common stock..............................................         101           101
  Additional paid-in capital................................      62,695        62,507
  Treasury stock............................................        (464)           --
  Deferred stock compensation...............................         (23)          (28)
  Notes receivable from stockholders........................         (38)          (37)
  Accumulated deficit.......................................      (4,619)       (4,752)
  Accumulated other comprehensive loss......................      (1,004)         (198)
                                                                 -------       -------
  Total stockholders' equity................................      56,648        57,593
                                                                 -------       -------
  Total liabilities and stockholders' equity................     $69,933       $71,455
                                                                 =======       =======
</Table>

   The accompanying notes are an integral part of the condensed consolidated
                             financial statements.

                                       2
<Page>
                              MOLDFLOW CORPORATION

                        CONSOLIDATED STATEMENT OF INCOME

                     (IN THOUSANDS, EXCEPT PER SHARE DATA)

                                  (UNAUDITED)

<Table>
<Caption>
                                                                   THREE MONTHS ENDED
                                                              -----------------------------
                                                              SEPTEMBER 29,   SEPTEMBER 30,
                                                                  2001            2000
                                                              -------------   -------------
<S>                                                           <C>             <C>
Revenue:
  Software licenses.........................................     $4,007          $5,222
  Services..................................................      4,165           3,602
                                                                 ------          ------
  Total revenue.............................................      8,172           8,824
                                                                 ------          ------
Costs and expenses:
  Cost of software licenses revenue.........................        570             341
  Cost of services revenue..................................        319             343
  Research and development..................................      1,365           1,587
  Selling and marketing.....................................      4,484           4,291
  General and administrative................................      1,597           1,385
  Amortization of goodwill and other intangible assets......        164             367
                                                                 ------          ------
  Total operating expenses..................................      8,499           8,314
                                                                 ------          ------
Income (loss) from operations...............................       (327)            510
Interest income, net........................................        502             371
Other income, net...........................................         24              35
                                                                 ------          ------
  Income before income taxes................................        199             916
Provision for income taxes..................................         66             382
                                                                 ------          ------
  Net income................................................     $  133          $  534
                                                                 ======          ======
Net income per common share:
  Basic.....................................................      $0.01           $0.06
  Diluted...................................................      $0.01           $0.06
Shares used in computing net income per common share:
  Basic.....................................................     10,088           9,186
  Diluted...................................................     10,385           9,698
</Table>

   The accompanying notes are an integral part of the condensed consolidated
                             financial statements.

                                       3
<Page>
                              MOLDFLOW CORPORATION

                      CONSOLIDATED STATEMENT OF CASH FLOWS

                                 (IN THOUSANDS)

                                  (UNAUDITED)

<Table>
<Caption>
                                                                   THREE MONTHS ENDED
                                                              -----------------------------
                                                              SEPTEMBER 29,   SEPTEMBER 30,
                                                                  2001            2000
                                                              -------------   -------------
<S>                                                           <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income..................................................     $   133         $   534
Adjustments to reconcile to net cash provided by operating
  activities:
  Loss on disposal of fixed assets..........................          --               7
  Depreciation and amortization.............................         488             618
  Provisions for doubtful accounts..........................          14               9
  Foreign exchange gains....................................         (37)            (16)
  Other non-cash charges to income..........................          57              --
Changes in assets and liabilities, net of effects of
  acquisition:
  Accounts receivable.......................................       1,774             276
  Prepaid expenses and other current assets.................         495             112
  Other assets..............................................          (3)            (68)
  Accounts payable..........................................         182             507
  Accrued expenses..........................................        (586)           (484)
  Deferred revenue..........................................        (679)           (546)
                                                                 -------         -------
  Net cash provided by operating activities.................       1,838             949
                                                                 -------         -------

CASH FLOWS FROM INVESTING ACTIVITIES:
  Purchases of fixed assets.................................        (619)           (965)
  Purchases of marketable securities........................          --          (6,898)
  Sales of marketable securities............................       8,253              --
  Additional acquisition costs..............................          --            (278)
                                                                 -------         -------
  Net cash provided by (used in) investing activities.......       7,634          (8,141)
                                                                 -------         -------

CASH FLOWS FROM FINANCING ACTIVITIES:
  Borrowings on bank notes payable..........................          --               5
  Payments on bank notes payable............................          --             (13)
  Payments on capital lease obligations.....................          --              (3)
  Issuance of common stock..................................         188              20
  Repurchase of common stock................................        (464)             --
                                                                 -------         -------
  Net cash (used in) provided by financing activities.......        (276)              9
                                                                 -------         -------
Effect of exchange rate changes on cash and cash
  equivalents...............................................        (341)           (167)
                                                                 -------         -------

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS........       8,855          (7,350)
Cash and cash equivalents, beginning of period..............      32,969          27,259
                                                                 -------         -------
Cash and cash equivalents, end of period....................     $41,824         $19,909
                                                                 =======         =======
</Table>

   The accompanying notes are an integral part of the condensed consolidated
                             financial statements.

                                       4
<Page>
                              MOLDFLOW CORPORATION

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

1.  BASIS OF PRESENTATION AND NATURE OF BUSINESS

    Moldflow Corporation ("Moldflow" or the "Company") was incorporated in
Delaware, USA in January 1997 as the successor corporation to Moldflow
International Pty. Ltd., an Australian corporation. The Company was formed to
design, develop, manufacture and market computer software applications for the
design, engineering and manufacture of injection molded plastic parts and, as
such, revenues are derived from the plastic design and manufacturing industry.
The Company sells its products primarily to customers in the United States,
Europe, Asia and Australia.

    The accompanying unaudited consolidated financial statements include the
accounts of Moldflow Corporation and its wholly-owned subsidiaries. The
consolidated financial statements have been prepared by the Company in
accordance with the rules and regulations of the Securities and Exchange
Commission ("SEC") regarding interim financial reporting. Accordingly, they do
not include all of the information and footnotes required by generally accepted
accounting principles for complete financial statements and should be read in
conjunction with the audited consolidated financial statements and notes thereto
for the year ended June 30, 2001 included in the Company's Annual Report on
Form 10-K. The June 30, 2001 consolidated balance sheet was derived from the
Company's audited consolidated financial statements. In the opinion of
management, the accompanying unaudited consolidated financial statements contain
all adjustments, consisting only of those of a normal recurring nature,
necessary for a fair presentation of results for the interim periods presented.
The results of operations for the three month period ended September 29, 2001
are not necessarily indicative of the results to be expected for any future
period or the full fiscal year.

    The Company's fiscal year end is June 30. During the fiscal year, the
Company follows a schedule in which each interim quarterly period ends on the
Saturday of the thirteenth full week of the reporting period.

2.  NET INCOME PER COMMON SHARE

    The Company computes net income per common share in accordance with
Statement of Financial Accounting Standards ("SFAS") No. 128, "Earnings Per
Share," and SEC Staff Accounting Bulletin No. 98 ("SAB 98"). Under the
provisions of SFAS 128 and SAB 98, basic earnings per common share is computed
by dividing net income available to common stockholders by the weighted-average
number of common shares outstanding. Diluted earnings per common share is
computed by dividing net income by the weighted-average number of common shares
outstanding and, when dilutive, all potential common equivalent shares
outstanding including restricted stock, options and warrants. The dilutive
effect of options and warrants to purchase common stock is determined under the
treasury stock

                                       5
<Page>
                              MOLDFLOW CORPORATION

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

2.  NET INCOME PER COMMON SHARE (CONTINUED)
method using the average fair value of common stock for the period. The
following table presents the calculation for both basic and diluted net income
per common share:

<Table>
<Caption>
                                                                  THREE MONTHS ENDED
                                                             -----------------------------
                                                             SEPTEMBER 29,   SEPTEMBER 30,
                                                                 2001            2000
                                                             -------------   -------------
                                                                    (IN THOUSANDS,
                                                                EXCEPT PER SHARE DATA)
<S>                                                          <C>             <C>
Net income.................................................     $  133           $ 534
                                                                ======           =====
Weighted average shares used in computing net income per
  common share--basic......................................     10,088           9,186
                                                                ------           -----
Effect of dilutive securities:
  Restricted stock.........................................         21              98
  Stock options and warrants...............................        276             414
                                                                ------           -----
  Dilutive potential common shares.........................        297             512
                                                                ------           -----
Weighted average shares used in computing net income per
  common share--diluted....................................     10,385           9,698
                                                                ======           =====
Net income per common share--basic.........................      $0.01           $0.06
Net income per common share--diluted.......................      $0.01           $0.06
</Table>

3.  DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES

    The Company hedges a portion of its forecasted foreign currency denominated
intercompany sales and a portion of its foreign currency denominated
intercompany research and development payments over a period of up to twelve
months using currency options, zero cost collars and other combinations of
options that constitute net purchased options. These derivatives have been
designated as cash-flow hedges and, as such, the effective portion of the change
in their fair value is recorded as a component of accumulated other
comprehensive income until the underlying forecasted transaction impacts
earnings. Once the underlying forecasted transaction is realized, the
appropriate gain or loss from the derivative is reclassified from other
accumulated comprehensive income to current earnings as a component of other
income and expenses. At the inception of the hedge transaction and on a
quarterly basis, the Company assesses whether the derivatives that are used in
hedging transactions are highly effective in offsetting the changes in cash
flows of the hedged items. If the Company determines that a cash flow hedge is
no longer probable of occurring or that the hedged instrument is no longer
highly effective, the Company discontinues hedge accounting for the affected
portion of the forecasted transaction, and any unrealized gain or loss on the
contract is recognized in current earnings as a component of other income and
expenses. During the three months ended September 29, 2001 and September 30,
2000, there were no such discontinuations.

    At September 29, 2001, currency options and collars designated as hedging
instruments with notional amounts of $13,177,000, $11,620,000 and $3,608,000 to
exchange Euros, Japanese yen and Australian dollars for U.S. dollars,
respectively, were outstanding. The fair values of these instruments, as derived
from dealer quotations, have been recorded as components of other current assets
or other current liabilities, depending on the amount of the valuation. At
September 29, 2001, instruments with fair values of $67,000 and $355,000 were
recorded as components of other current assets and other

                                       6
<Page>
                              MOLDFLOW CORPORATION

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

3.  DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (CONTINUED)
current liabilities, respectively. Net unrealized losses on these instruments of
$376,000 were included in accumulated other comprehensive income. The Company
expects these instruments to affect earnings over the next nine months. During
the three months ended September 29, 2001, gains of $46,000 were recorded as
components of other income and expenses.

    At September 30, 2000, currency options designated as hedging instruments
with notional amounts of $4,268,000 and $2,041,000 to exchange Euros and
Japanese yen for U.S. dollars, respectively, were outstanding. The fair value of
these instruments as of September 30, 2000 was $236,000, which was included in
other current assets. Unrealized gains of $107,000 from these instruments were
included in accumulated other comprehensive income. During the three months
ended September 30, 2000, a net loss of $83,000 related to hedging activities
was recorded as other income and expenses, representing recognition of the
ineffective portion of the Company's outstanding options of $116,000, net of
gains of $33,000 on options that settled during the period.

4.  GOODWILL AND OTHER INTANGIBLE ASSETS

    During the first quarter of fiscal 2002, the Company adopted the provisions
of Statement of Financial Accounting Standards ("SFAS") No. 141, "Business
Combinations" and SFAS No. 142 "Goodwill and Other Intangible Assets." SFAS
No. 141 establishes the purchase method as the only acceptable methodology for
accounting for a business combination. In addition, SFAS No. 141 provides
guidance for allocating the cost of an acquired entity, including the
recognition and identification of goodwill and other intangible assets. Under
SFAS No. 141, an assembled workforce does not meet the criteria for recognition
as an intangible asset that is separable from goodwill. As such, at July 1,
2001, the Company reclassified to goodwill the carrying value of its previously
identified assembled workforces that were recognized in the Company's
acquisitions of C-Mold and Branden Technologies (Note 5). As a result of this
reclassification, the recorded value of goodwill increased by $786,000.

    SFAS No. 142 addresses accounting and reporting for goodwill and other
intangible assets at and subsequent to the date of acquisition. SFAS No. 142
provides guidance in determining the useful life of intangible assets,
concluding that some intangible assets may have an indefinite useful life to a
company. SFAS No. 142 also eliminates amortization of goodwill and introduces a
two-step impairment test model. Companies have six months from the date of
adoption of SFAS No. 142 to complete a transitional goodwill impairment test,
which is applied as of the beginning of the fiscal year in which the standard is
first adopted. Subsequently, companies must then conduct goodwill impairment
tests on an annual basis.

    In adopting SFAS No. 142, the Company conducted the required transitional
impairment test as of July 1, 2001, concluding that no impairment of the
goodwill acquired in the acquisitions of C-Mold and Branden Technologies had
occurred. The Company ceased the amortization of goodwill as of July 1, 2001,
resulting in a $398,000 reduction in amortization expense for the three months
ended September 29, 2001, as compared to the Company's immediately preceding
fiscal quarter. The Company also reviewed the other intangible assets acquired
in the aforementioned transactions, concluding that no change need be made to
the previously estimated useful lives of those items.

5.  ACQUISITIONS

    On April 13, 2000, the Company acquired Advanced CAE Technology, Inc., which
had been conducting business as C-Mold, for $11.3 million in cash. On March 28,
2001, the Company acquired

                                       7
<Page>
                              MOLDFLOW CORPORATION

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

5.  ACQUISITIONS (CONTINUED)
all of the outstanding shares of Branden Technologies, Inc. ("Branden"), located
in Wilsonville, Oregon, for a total of $3.7 million in cash, $1.1 million of
which was used to retire all of Branden's outstanding debt. Both acquisitions
were accounted for using the purchase method of accounting, and the results of
the acquired entities have been included in the Company's consolidated financial
statements since their respective dates of acquisition.

    The following table summarizes changes in goodwill and other intangible
assets acquired in these transactions during the three months ended
September 29, 2001, giving effect to the adoption of the provisions of SFAS
No. 141 and No. 142 (Note 4):
<Table>
<Caption>
                                                                     AMORTIZATION
                                                                      CHARGES FOR
                                   BALANCE AT JUNE 30, 2001          THREE MONTHS
                            --------------------------------------       ENDED
                             GROSS     ACCUMULATED    NET CARRYING   SEPTEMBER 30,
                             VALUE     AMORTIZATION      VALUE           2001
                            --------   ------------   ------------   -------------
                                 (IN THOUSANDS, EXCEPT ESTIMATED USEFUL LIFE)
<S>                         <C>        <C>            <C>            <C>
Goodwill..................  $ 9,309      $(1,306)       $ 8,003          $ --
Customer base.............      330          (12)           318            12
Assembled workforce.......    1,054         (268)           786            --
Developed technology......      975         (210)           765            52
Non-compete agreements....    1,161         (216)           945           100
                            -------      -------        -------          ----
                            $12,829      $(2,012)       $10,817          $164
                            =======      =======        =======          ====

<Caption>

                                BALANCE AT SEPTEMBER 29, 2001
                            --------------------------------------    ESTIMATED
                             GROSS     ACCUMULATED    NET CARRYING   USEFUL LIFE
                             VALUE     AMORTIZATION      VALUE         (YEARS)
                            --------   ------------   ------------   -----------
                                (IN THOUSANDS, EXCEPT ESTIMATED USEFUL LIFE)
<S>                         <C>        <C>            <C>            <C>
Goodwill..................  $10,363      $(1,574)       $ 8,789           --
Customer base.............      330          (24)           306            7
Assembled workforce.......       --           --             --           --
Developed technology......      975         (262)           713          4-7
Non-compete agreements....    1,161         (316)           845          2-5
                            -------      -------        -------
                            $12,829      $(2,176)       $10,653
                            =======      =======        =======
</Table>

    The following summarizes the pro forma results of operations for the three
months ended September 29, 2001 and September 30, 2000 as if the acquisition of
Branden had been completed on July 1, 2000. The pro forma results of operations
include the actual operating results for each period, adjusted to include
amortization of intangible assets and changes to net interest and income tax
expenses. The pro forma results of operations give effect to the retirement of
Branden's outstanding debt and the adoption of SFAS No. 142, as if such events
had occurred on July 1, 2000.

    These pro forma amounts do not purport to be indicative of actual results
had the acquisitions occurred on July 1, 2000 or that may be obtained in the
future.

<Table>
<Caption>
                                                                  THREE MONTHS ENDED
                                                             -----------------------------
                                                             SEPTEMBER 29,   SEPTEMBER 30,
                                                                 2001            2000
                                                             -------------   -------------
                                                                    (IN THOUSANDS,
                                                                EXCEPT PER SHARE DATA)
<S>                                                          <C>             <C>
Revenue....................................................     $8,172          $9,162
Net income.................................................        133             458
Net income per common share:
  Basic....................................................     $ 0.01          $ 0.05
  Diluted..................................................     $ 0.01          $ 0.04
</Table>

                                       8
<Page>
                              MOLDFLOW CORPORATION

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

6.  SOFTWARE DEVELOPMENT COSTS

    Costs associated with the research and development of the Company's products
are expensed as incurred. Costs associated with the development of computer
software are expensed prior to establishing technological feasibility, as
defined by SFAS No. 86, "Accounting for the Costs of Computer Software to be
Sold, Leased, or Otherwise Marketed," and capitalized thereafter until
commercial release of the software products. Software development costs eligible
for capitalization, prior to the first quarter of fiscal 2002, were not
significant. In the first quarter of fiscal 2002, the Company established
technological feasibility of Moldflow Plastics Insight version 3.0 ("MPI 3.0").
In accordance with SFAS No. 86, research and development costs of $341,000 were
capitalized and subsequently will be amortized to cost of software licenses
revenue over the estimated economic life of the product. As MPI 3.0 has not yet
been commercially released, the Company expects to incur additional
capitalizable software development costs in the second quarter of fiscal 2002.

7.  COMMON STOCK AND STOCK PLANS

    On September 19, 2001, the Board of Directors authorized the Company to
repurchase up to 500,000 shares of its outstanding common stock, pursuant to
which the Company reacquired 50,000 shares for $464,000, at an average cost of
$9.28 per share, through September 29, 2001.

    A summary of the Company's stock option activity for the three months ended
September 29, 2001 follows:

<Table>
<Caption>
                                                                   THREE MONTHS ENDED
                                                                   SEPTEMBER 29, 2001
                                                              -----------------------------
                                                                           WEIGHTED AVERAGE
                                                                SHARES      EXERCISE PRICE
                                                              ----------   ----------------
<S>                                                           <C>          <C>
Outstanding at beginning of period..........................   1,116,460        $12.07
Granted.....................................................     495,950         12.90
Exercised...................................................     (10,324)         1.07
Canceled....................................................     (10,920)        16.37
                                                              ----------
Outstanding at end of period................................   1,591,166         12.37
                                                              ==========
Options exercisable at end of period........................     372,902
Options available for future grant..........................   1,056,692
</Table>

                                       9
<Page>
                              MOLDFLOW CORPORATION

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

8.  COMPREHENSIVE INCOME (LOSS)

    Comprehensive income (loss) is comprised of net income and other
comprehensive income and losses. Other comprehensive income (loss) includes
certain changes in equity that are excluded from net income, such as cumulative
foreign currency translation adjustments. Other comprehensive income (loss) also
includes unrealized gains and losses on the intrinsic value of the Company's
hedging instruments and on the Company's marketable securities, resulting
primarily from its minority investment in an Indian software company. It is
management's opinion that the remaining unrealized gain of $191,000, net of tax,
on this latter investment is subject to a number of risks, including: that the
investee company's financial results may result in a further decrease in its
share price, that there may not be an active trading market for the remaining
shares, that currency fluctuations may impact the U.S. dollar value of the
unrealized gain, that foreign exchange controls may be imposed by foreign
governments, and that other potential risks may cause this gain to never be
fully realized.

    The following table presents the calculation of comprehensive income (loss):

<Table>
<Caption>
                                                          THREE MONTHS ENDED
                                                     -----------------------------
                                                     SEPTEMBER 29,   SEPTEMBER 30,
                                                         2001            2000
                                                     -------------   -------------
                                                            (IN THOUSANDS)
<S>                                                  <C>             <C>
Net income.........................................     $   133         $   534
Other comprehensive income (loss):
  Changes in fair value of marketable securities,
    net of related tax effect......................         (92)           (961)
  Changes in value of financial instruments
    designated as hedges...........................        (519)            107
  Foreign currency translation adjustment..........        (194)           (472)
                                                        -------         -------
  Other comprehensive loss.........................        (805)         (1,326)
                                                        -------         -------
  Comprehensive loss...............................     $  (672)        $  (792)
                                                        =======         =======
</Table>

                                       10
<Page>
                              MOLDFLOW CORPORATION

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

9.  SEGMENT AND GEOGRAPHIC INFORMATION

    The following table presents the Company's revenues and net fixed assets by
geographic segment:

<Table>
<Caption>
                                                          THREE MONTHS ENDED
                                                     -----------------------------
                                                     SEPTEMBER 29,   SEPTEMBER 30,
                                                         2001            2000
                                                     -------------   -------------
                                                            (IN THOUSANDS)
<S>                                                  <C>             <C>
REVENUE FROM UNAFFILIATED CUSTOMERS:
Asia/Australia
  Software licenses................................     $1,459          $1,680
  Services.........................................      1,163             917
                                                        ------          ------
  Total Asia/Australia.............................      2,622           2,597
                                                        ------          ------
USA
  Software licenses................................        960           1,291
  Services.........................................      1,629           1,540
                                                        ------          ------
  Total USA........................................      2,589           2,831
                                                        ------          ------
Europe
  Software licenses................................      1,588           2,251
  Services.........................................      1,373           1,145
                                                        ------          ------
  Total Europe.....................................      2,961           3,396
                                                        ------          ------
Consolidated
  Software licenses................................      4,007           5,222
  Services.........................................      4,165           3,602
                                                        ------          ------
  Total consolidated...............................     $8,172          $8,824
                                                        ======          ======

FIXED ASSETS, NET (AS OF PERIOD END):
  Asia/Australia...................................     $2,044
  USA..............................................      1,417
  Europe...........................................        862
                                                        ------
  Total consolidated...............................     $4,323
                                                        ======
</Table>

10.  RECENT ACCOUNTING PRONOUNCEMENTS

    In October 2001, the FASB issued SFAS No. 144, "Accounting for the
Impairment or Disposal of Long-Lived Assets." The objectives of SFAS No. 144 are
to address significant issues relating to the implementation of SFAS No. 121,
"Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to
Be Disposed Of," and to develop a single accounting model, based on the
framework established in SFAS No. 121, for long-lived assets to be disposed of
by sale, whether previously held and used or newly acquired. SFAS No. 144 is
effective for financial statements issued for fiscal years beginning after
December 15, 2001 and, generally, its provisions are to be applied
prospectively. Management is currently determining what effect, if any, SFAS
No. 144 will have on its financial position and results of operations.

                                       11
<Page>
ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
         OF OPERATIONS

FORWARD-LOOKING STATEMENTS

    This Quarterly Report on Form 10-Q contains forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended, and
21E of the Securities Exchange Act of 1934, as amended. You can identify these
statements by forward-looking words such as "may," "will," "expect,"
"anticipate," "believe," "estimate," and "continue" or similar words. You should
read statements that contain these words carefully because they discuss our
future expectations, contain projections of our future results of operations or
of our financial condition, or state other "forward-looking" information. We
believe that it is important to communicate our future expectations to our
investors. However, there may be events in the future that we are not able to
accurately predict or control and that may cause our actual results to differ
materially from the expectations we describe in our forward-looking statements.
Investors are cautioned that all forward-looking statements involve risks and
uncertainties, and actual results may differ materially from those discussed as
a result of various factors, including those factors described in "Risk Factors
and Important Factors That May Affect Future Results" beginning on page 17.
Readers should not place undue reliance on our forward-looking statements.

BUSINESS OVERVIEW

    Our primary business is the development, sale and support of software
applications for the design and manufacture of injection molded plastic parts.
Our Design Optimization Solutions products allow a product designer or engineer
to simulate the manufacture of a plastic part to determine the optimal part
design and part/mold combination. Our Manufacturing Solutions products allow
plant engineers and managers to maintain and optimize manufacturing conditions
throughout the manufacturing process.

    We develop software products internally and through cooperative research
relationships with a number of public and private educational and research
organizations around the world. Prior to June 1997, our products consisted
solely of our Moldflow Plastics Insight ("MPI") series for in-depth mold design.
Since then, we have introduced additional modules of our MPI product series and
have also introduced other new product lines. Our Moldflow Plastics Advisers
("MPA") series for part design and high level mold design was introduced in
fiscal 1997 and our Moldflow Plastics Xpert ("MPX") series for production set-up
and production monitoring was introduced in fiscal 1999. In fiscal 2000, we
introduced plasticszone.com, a business and productivity website for
professionals working with injection molded plastics. The plasticszone.com site
currently offers six primary services, including one which provides our
customers with access to our IMPA product, an application service provider, or
ASP, version of one of our MPA series of products. In fiscal 2001, two
additional products were launched under the Moldflow brand, Shotscope and
EZ-Track. Shotscope, the primary product of Branden Technologies, a company we
acquired in March 2001, is a product that monitors, analyzes, and assists in the
scheduling of injection molding production processes. EZ-Track, developed
jointly by Moldflow and Branden, provides real-time, plant-wide production
monitoring and reporting. We categorize these products into two groups: Design
Optimization Solutions, which includes the MPA and MPI series, and Manufacturing
Solutions, which includes the MPX, Shotscope and EZ-Track products.

    We sell our products and services internationally through our direct sales
operations in 14 countries. We also sell through a network of distributors and
value-added resellers and through distribution arrangements with developers of
other design software products.

    On April 13, 2000, the Company acquired all of the outstanding shares of
Advanced CAE Technology, Inc., which formerly conducted business as "C-Mold." On
March 28, 2001, the Company acquired all of the outstanding shares of Branden
Technologies, Inc. These business combinations were

                                       12
<Page>
accounted for using the purchase method of accounting. Accordingly, our
consolidated financial statements present together with the Company the
financial position and results of operations of C-Mold and Branden from the
dates of their respective acquisition.

    We generate revenue from two principal sources:

    - license fees for our packaged software products, and

    - services revenue derived from maintenance and support services related to
      our software products, consulting, training and material testing.

RESULTS OF OPERATIONS

    The following table sets forth statement of operations data for the periods
indicated as a percentage of total revenues:

<Table>
<Caption>
                                                                  THREE MONTHS ENDED
                                                             -----------------------------
                                                             SEPTEMBER 29,   SEPTEMBER 30,
                                                                 2001            2000
                                                             -------------   -------------
<S>                                                          <C>             <C>
Revenue:
  Software licenses........................................       49.0%           59.2%
  Services.................................................       51.0            40.8
                                                                 -----           -----
  Total revenue............................................      100.0%          100.0%
                                                                 =====           =====

Costs and expenses:
  Cost of software licenses revenue........................        7.0%            3.9%
  Cost of services revenue.................................        3.9             3.9
  Research and development.................................       16.7            18.0
  Selling and marketing....................................       54.9            48.6
  General and administrative...............................       19.5            15.7
  Amortization of goodwill and other intangible assets.....        2.0             4.2
                                                                 -----           -----
  Total operating expenses.................................      104.0            94.3
                                                                 -----           -----
Income (loss) from operations..............................       (4.0)            5.7
Interest income, net.......................................        6.1             4.2
Other income, net..........................................        0.3             0.5
                                                                 -----           -----
  Income before income taxes...............................        2.4            10.4
Provision for income taxes.................................        0.8             4.3
                                                                 -----           -----
  Net income...............................................        1.6%            6.1%
                                                                 =====           =====
</Table>

                                       13
<Page>
THREE MONTHS ENDED SEPTEMBER 29, 2001 COMPARED TO THREE MONTHS ENDED
  SEPTEMBER 30, 2000

    REVENUE.  Total revenue decreased by 7%, or $0.7 million, to $8.2 million
for the three months ended September 29, 2001, from $8.8 million for the three
months ended September 30, 2000. In the same period, software licenses revenue
decreased by 23%, or $1.2 million, to $4.0 million from $5.2 million. The
following table sets forth our software licenses revenue by product group:

<Table>
<Caption>
                                                                   THREE MONTHS ENDED
                                                              -----------------------------
                                                              SEPTEMBER 29,   SEPTEMBER 30,
                                                                  2001            2000
                                                              -------------   -------------
                                                                     (IN THOUSANDS,
                                                                 EXCEPT PERCENTAGE DATA)
<S>                                                           <C>             <C>
Software licenses revenue:
  Design Optimization Solutions.............................     $3,341          $4,904
  Manufacturing Solutions...................................        666             318
                                                                 ------          ------
  Total.....................................................     $4,007          $5,222
                                                                 ======          ======
Percent of total software licenses revenue:
  Design Optimization Solutions.............................       83.4%           93.9%
  Manufacturing Solutions...................................       16.6             6.1
                                                                 ------          ------
  Total.....................................................      100.0%          100.0%
                                                                 ======          ======
</Table>

    The demand for our products is largely driven by the demand for the products
in our primary end markets. Many of these end markets, particularly the
automotive, telecommunications and electronics industries, have experienced
severe economic declines over the last twelve months. This downturn
significantly contributed to the decrease in licensing revenue in the first
quarter of fiscal 2002. A continuation of this general economic slowdown could
materially and adversely affect us in the future by decreasing our revenue. In
addition, the terrorist attacks on the United States caused widespread
uncertainty in the world financial markets, and significantly disrupted the
normal purchasing patterns of our customers in the quarter.

    Services revenue increased by 16%, or $0.6 million, to $4.2 million for the
three months ended September 29, 2001, from $3.6 million for the three months
ended September 30, 2000. This increase was due primarily to an increase in the
amount of revenue derived from maintenance and support contracts resulting from
the growth in our software licenses revenue and our installed-user base in
fiscal 2001. No customer accounted for more than 10% of the total revenue during
the three-month periods ended September 29, 2001 and September 30, 2000.

    COST OF REVENUE.  The cost of software licenses revenue increased 67%, or
$229,000, to $570,000 for the three months ended September 29, 2001, from
$341,000 for the three months ended September 30, 2000. This increase was
primarily attributable to increased sales of our Manufacturing Solutions
products, which have a higher cost of materials than our Design Optimization
Solutions products. The cost of services revenue decreased 7%, or $24,000, to
$319,000 for the three months ended September 29, 2001, from $343,000 for the
three months ended September 29, 2000. This decrease was a result of decreased
headcount and reduced travel costs.

    RESEARCH AND DEVELOPMENT.  Research and development expenses decreased 14%,
or $222,000, to $1.4 million for the three months ended September 29, 2001, from
$1.6 million for the three months ended September 30, 2000. This decrease was
primarily attributable to the capitalization of research and development costs
under the provisions of SFAS No. 86, "Accounting for the Costs of Computer
Software to be Sold, Leased, or Otherwise Marketed," which, along with
reductions in travel and other discretionary spending, more than offset
additional personnel costs resulting from our acquisition of Branden
Technologies. In the first quarter of fiscal 2002, the Company established
technological

                                       14
<Page>
feasibility on Moldflow Plastics Insight version 3.0 ("MPI 3.0") In accordance
with SFAS No. 86, research and development costs of $341,000 were capitalized
and included as a component of fixed assets. As MPI 3.0 has not yet been
commercially released, the Company expects to capitalize additional software
development costs in the second quarter of fiscal 2002. All such costs will
subsequently be amortized to cost of software licenses over the estimated
economic life of the product.

    SELLING AND MARKETING.  Selling and marketing expenses increased 4%, or
$193,000, to $4.5 million for the three months ended September 29, 2001, from
$4.3 million for the three months ended September 30, 2000. The costs of
increased headcount from 2001 were partially offset by reductions in travel and
marketing initiatives.

    GENERAL AND ADMINISTRATIVE.  General and administrative expenses increased
15%, or $212,000, to $1.6 million for the three months ended September 29, 2001,
from $1.4 million for the three months ended September 30, 2000. This increase
was due to additional personnel costs and premiums for director and officer
liability insurance and professional fees.

    AMORTIZATION OF GOODWILL AND OTHER INTANGIBLE ASSETS.  These costs represent
the amortization of intangible assets recorded in connection with our
acquisitions, including developed technology and protective covenants and, in
fiscal 2001, goodwill and assembled workforce. Amortization expense decreased
55%, or $203,000, to $164,000 for the three months ended September 29, 2001 from
$367,000 for the three months ended September 30, 2000. This decrease was due to
the Company's adoption of SFAS No. 142, "Goodwill and Other Intangible Assets,"
under which goodwill is no longer amortized (Note 4).

    INTEREST INCOME (EXPENSE), NET.  Interest income (expense), net increased
35%, or $131,000 to $502,000 for the three months ended September 29, 2001 from
$371,000 for the three months ended September 30, 2000. The increase was
primarily the result of interest earned on the investment of the unused portion
of the proceeds from our follow-on offering completed in December 2000.

    OTHER INCOME, NET.  Other income, net decreased 31%, or $11,000 to $24,000
for the three months ended September 29, 2001 from $35,000 from the three months
ended September 30, 2000. Other income, net included realized and unrealized
exchange gains and losses on intercompany account balances and recognized gains
and losses on our foreign exchange hedging instruments.

    PROVISION FOR INCOME TAXES.  The provision for income taxes decreased 83%,
or $316,000, to $66,000 for the three months ended September 29, 2001 from
$382,000 for the three months ended September 30, 2000. Our effective income tax
rate was 33% for the three months ended September 29, 2001 and 42% for the
corresponding period of the prior year.

LIQUIDITY AND CAPITAL RESOURCES

    Historically, we have financed our operations and met our capital
expenditure requirements primarily through sales of our capital stock,
stockholder loans, funds generated from operations and borrowings from lending
institutions. In March 2000, we completed our initial public offering of common
stock. In December 2000, we completed a second offering of common stock, raising
$12.8 million net of offering costs. As of September 29, 2001, our primary
sources of liquidity consisted of our total cash and cash equivalents balance of
$41.8 million and our marketable securities balance of $4.4 million. In
January 2001, we completed the restructuring of our working capital credit line,
resulting in an available credit facility of $5.0 million which is secured by
$5.0 million of cash held in interest bearing securities with the bank. Our
marketable securities balance at September 29, 2001 included $303,000 related to
our remaining minority investment in a publicly traded Indian software company
which is recorded at market value at the end of each reporting period. This
value has been subject to significant fluctuation in the past. It is
management's opinion that the unrealized gain of

                                       15
<Page>
$191,000, net of tax, is subject to a number of risks that may cause the gain to
never be fully realized. As of September 29, 2001, we had no outstanding debt.

    Net cash provided by operating activities was $1.8 million for the three
months ended September 29, 2001. During the corresponding period ended
September 30, 2000, net cash of $949,000 was generated by operating activities.
Cash was provided by operations in the current reporting period primarily
through net income as adjusted for non-cash charges, and increases in accounts
payable and decreases in accounts receivable and other current assets, partially
offset by decreases in accrued expenses and deferred maintenance and support
contracts revenue. Cash was generated by operations in the corresponding period
ended September 30, 2000 primarily through increases in net income as adjusted
for non-cash charges and accrued expenses, and decreases in other current assets
and accounts receivable, offset by a decrease in deferred maintenance and
support contracts and an increase in other assets.

    Net cash provided by investing activities was $7.6 million for the three
months ended September 29, 2001. During the corresponding period ended
September 30, 2000, investing activities used cash of $8.1 million. Cash was
provided in the current reporting period primarily by the conversion of
marketable securities into cash, offset by purchases of fixed assets. Cash was
used by investing activities in 2001 through the purchase of fixed assets, the
purchase of marketable securities and by additional C-Mold acquisition costs.

    Net cash of $276,000 was used for financing activities during the three
months ended September 29, 2001, reflecting the impact of the Company's share
repurchase program, under which 50,000 shares of common stock were reacquired at
a cost of $464,000. This use of cash was partially offset by exercises of stock
options and proceeds received for common stock under the Company's Employee
Stock Purchase Plan. Net cash of $9,000 was provided by financing activities in
the corresponding period of 2001, primarily from the exercise of employee stock
options.

    We believe that our current cash, cash equivalents, marketable securities
and available lines of credit will be sufficient to meet our anticipated cash
needs for working capital and capital expenditures for at least the next twelve
months following the date of this Quarterly Report. On a long-term basis or to
complete acquisitions in the short term, we may require additional external
financing through credit facilities, sales of additional equity or other
financing vehicles. There can be no assurance that such financing can be
obtained on favorable terms, if at all.

RECENT ACCOUNTING PRONOUNCEMENTS

    In October 2001, the FASB issued SFAS No. 144, "Accounting for the
Impairment or Disposal of Long-Lived Assets." The objectives of SFAS No. 144 are
to address significant issues relating to the implementation of SFAS No. 121,
"Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to
Be Disposed Of," and to develop a single accounting model, based on the
framework established in SFAS No. 121, for long-lived assets to be disposed of
by sale, whether previously held and used or newly acquired. SFAS No. 144 is
effective for financial statements issued for fiscal years beginning after
December 15, 2001 and, generally, its provisions are to be applied
prospectively. Management is currently determining what effect, if any, SFAS
No. 144 will have on its financial position and results of operations.

                                       16
<Page>
EUROPEAN UNION CURRENCY CONVERSION

    On January 1, 1999, eleven member nations of the European Economic and
Monetary Union began using a common currency, the Euro. For a three-year
transition period ending June 30, 2002, both the Euro and each of the currencies
for such member countries will remain in circulation. After June 30, 2002, the
Euro will be the sole legal tender for those countries. The adoption of the Euro
will affect many financial systems and business applications as the commerce of
those countries may be transacted both in the Euro and the existing national
currency during the transition period. Significant portions of our revenue have
been historically generated in Europe. Of the eleven countries currently using
the Euro, we have subsidiary operations in France, Germany, Ireland, Italy, the
Netherlands and Spain. We have assessed the potential impact of the Euro
conversion in a number of areas, particularly on our pricing and other marketing
strategies. Although we do not currently expect that the conversion, either
during or after the transition period, will have an adverse effect on our
operations or financial condition, there can be no assurance that it will not
have some unexpected adverse impact.

IMPACT OF INFLATION

    We believe that our revenue and results of operations have not been
significantly impacted by inflation during the past three fiscal years.

RISK FACTORS AND IMPORTANT FACTORS THAT MAY AFFECT FUTURE RESULTS

    You should carefully consider the following risks and uncertainties prior to
making an investment in our common stock. The following risks and uncertainties
may also cause our actual results to differ materially from those contained in
or predicted by our forward-looking statements.

    OUR QUARTERLY OPERATING RESULTS ARE SUBJECT TO SIGNIFICANT FLUCTUATIONS AND,
AS A RESULT, PERIOD-TO-PERIOD COMPARISONS OF OUR RESULTS OF OPERATIONS ARE NOT
NECESSARILY MEANINGFUL AND SHOULD NOT BE RELIED UPON AS INDICATORS OF FUTURE
PERFORMANCE.

    We have experienced significant fluctuations in our results of operations on
a quarterly basis. For instance, our total revenue in the first quarter of
fiscal 2002 was $8.2 million as compared with total revenue of $9.6 million in
the immediately preceding quarter. We expect to continue to experience
significant fluctuations in our future quarterly results of operations due to a
variety of factors, many of which are outside of our control, including:

    - seasonal slowdowns, in particular, in our first fiscal quarter, in many of
      the markets in which we sell our products,

    - the timing and magnitude of capital expenditures, including costs relating
      to the expansion of our operations and infrastructure,

    - introductions of new services or enhancements by us and our competitors
      and changes in our and our competitors' pricing policies,

    - changes in the mix of products and services we provide as sales of our
      Manufacturing Solutions products and our services may result in lower
      gross margins,

    - currency fluctuations, and

    - timing and integration of acquisitions.

    In addition, like many software companies, we usually record a larger
percentage of our quarterly revenue in the third month of the fiscal quarter.
Also, our Manufacturing Solutions products may involve a longer selling cycle
with corresponding larger order sizes which may lead to an inability to close on
orders or make shipments in the period immediately preceding the end of the
fiscal quarter. Accordingly, our quarterly results are often difficult to
predict prior to the final days of the quarter.

                                       17
<Page>
    THE EXISTING GENERAL ECONOMIC SLOWDOWN, PARTICULARLY IN OUR END MARKETS, MAY
IMPACT OUR RESULTS.

    The demand for our products is largely driven by the demand for the products
in our primary end markets. Many of these end markets, particularly the
automotive, telecommunications, and electronics industries have experienced
severe economic declines over the past fifteen months. A continuation of this
general economic slowdown could materially and adversely affect us by further
decreasing our revenue and/or lowering our revenue growth rates. In addition,
the recent terrorist attacks on the United States and resulting military
actions, are causing widespread uncertainty and speculation in the United States
and world financial markets. This uncertainty and speculation may result in
further economic contraction and a suspension in the normal purchasing patterns
of our customers.

    IF WE EXPERIENCE DELAYS IN INTRODUCING NEW PRODUCTS OR IF OUR EXISTING OR
NEW PRODUCTS DO NOT ACHIEVE MARKET ACCEPTANCE, WE MAY LOSE REVENUE.

    Our industry is characterized by:

    - rapid technological advances,

    - evolving industry standards,

    - changes in end-user requirements,

    - intense competition,

    - technically complex products,

    - frequent new product introductions, and

    - evolving offerings by product manufacturers.

    We believe our future success will depend, in part, on our ability to
anticipate or adapt to these factors and to offer on a timely basis products
that meet customer demands. For example, the introduction of new products and
services embodying new technologies and the emergence of new industry standards
can render our existing products obsolete. The development of new or enhanced
products is a complex and uncertain process, requiring the anticipation of
technological and market trends. We may experience design, manufacturing,
marketing and other difficulties that could delay or prevent our development,
introduction or marketing of new products and enhancements and result in
unexpected expenses.

    Our growth and profitability also will depend upon our ability to expand the
use and market penetration of our existing product lines as well as new products
we introduce. Market acceptance of our products will depend in part on our
ability to demonstrate the cost-effectiveness, ease of use and technological
advantages of our products over competing products.

    THE ACQUISITIONS OF C-MOLD AND BRANDEN TECHNOLOGIES AND FUTURE ACQUISITIONS
AND STRATEGIC RELATIONSHIPS MAY RESULT IN LOST REVENUE CAUSED BY BUSINESS
DISRUPTIONS AND MISSED OPPORTUNITIES CAUSED BY THE DISTRACTION OF OUR
MANAGEMENT.

    If we are unable to effectively integrate both Branden's and C-Mold's
products, personnel and systems, our business and operating results will likely
suffer. Integrating acquired businesses has required time and focus by our
management team. Further, we cannot guarantee that we will realize any of the
benefits or strategic objectives we were seeking in acquiring C-Mold or Branden.

    Additionally, we may engage in other acquisitions and strategic
relationships in the future. We may not be able to identify suitable acquisition
candidates, and, if we do identify suitable candidates, we may not be able to
make such acquisitions on commercially acceptable terms or at all. If we acquire
another company, we will only receive the anticipated benefits if we
successfully integrate the acquired business into our existing business in a
timely and non-disruptive manner. We may have to devote a

                                       18
<Page>
significant amount of time and management and financial resources to do so. Even
with this investment of management and financial resources, an acquisition may
not produce the revenues, earnings or business synergies that we anticipated. If
we fail to integrate the acquired business effectively or if key employees of
that business leave, the anticipated benefits of the acquisition would be
jeopardized. The time, capital, management and other resources spent on an
acquisition that failed to meet our expectations could cause our business and
financial condition to be materially and adversely affected. In addition,
acquisitions can involve non-recurring charges and amortization of significant
amounts of acquired identifiable intangible assets that could adversely affect
our results of operations.

    IF WE BECOME SUBJECT TO INTELLECTUAL PROPERTY INFRINGEMENT CLAIMS, WE COULD
INCUR SIGNIFICANT EXPENSES AND WE COULD BE PREVENTED FROM OFFERING SPECIFIC
PRODUCTS OR SERVICES.

    Our products include proprietary intellectual property. We may become
subject to claims that we infringe on the proprietary rights of others. In the
United States and elsewhere, a significant number of software and business
method patents have been issued over the past decade and the holders of these
patents have been actively seeking out potential infringers. In addition, our
Manufacturing Solutions products require interaction with injection molding
machines, the use and technology of which are subject to a wide variety of
world-wide patents and other intellectual property protection. If any element of
our products or services violates third-party proprietary rights, we might not
be able to obtain licenses on commercially reasonable terms to continue offering
our products or services without substantial re-engineering and any effort to
undertake such re-engineering might not be successful. In addition, any claim of
infringement could cause us to incur substantial costs defending against the
claim, even if the claim is invalid, and could distract our management from our
business. Any judgment against us could require us to pay substantial damages
and could also include an injunction or other court order that could prevent us
from offering our products and services.

    WE MAY LOSE SALES TO COMPETITORS IF WE ARE UNABLE TO PROTECT IMPORTANT
INTELLECTUAL PROPERTY.

    Our ability to compete effectively against other companies in our industry
will depend, in part, on our ability to protect our proprietary rights in our
technology. We may be unable to maintain the proprietary nature of our
technology. While we have attempted to safeguard and maintain our proprietary
rights, we do not know whether we have been or will be completely successful in
doing so.

    We face the following risks in protecting our intellectual property:

    - we cannot be certain that our pending United States and foreign patent
      applications will result in issued patents or that the claims allowed are
      or will be sufficiently broad to protect our technology,

    - third parties may design around our patented technologies or seek to
      challenge or invalidate our patented technologies,

    - the contractual provisions that we rely on, in part, to protect our trade
      secrets and proprietary knowledge may be breached, and we may not have
      adequate remedies for any breach and our trade secrets and proprietary
      information may be disclosed to the public,

    - our trade secrets may also become known without breach of such agreements
      or may be independently developed by competitors, and

    - foreign countries, including some of those in which we do business, may
      reduce or limit the protection of our intellectual property rights.

                                       19
<Page>
    OUR FINANCIAL CONDITION OR RESULTS OF OPERATIONS MAY BE ADVERSELY AFFECTED
BY INTERNATIONAL BUSINESS RISKS.

    The majority of our employees, including sales, support and research and
development personnel, are located outside of the United States. Conducting
business outside of the United States is subject to numerous risks, including:

    - decreased liquidity resulting from longer accounts receivable collection
      cycles typical of foreign countries,

    - decreased revenue on foreign sales resulting from possible foreign
      currency exchange and conversion issues,

    - lower productivity resulting from difficulties managing our sales, support
      and research and development operations across many countries,

    - lost revenue resulting from difficulties associated with enforcing
      agreements and collecting receivables through foreign legal systems,

    - lost revenue resulting from the imposition by foreign governments of trade
      protection measures, and

    - higher cost of sales resulting from import or export licensing
      requirements.

    WE HAVE MORE LIMITED FINANCIAL AND OTHER RESOURCES THAN MANY OF OUR
COMPETITORS AND POTENTIAL COMPETITORS AND MAY BE UNABLE TO COMPETE SUCCESSFULLY
AGAINST THEM.

    We operate in a highly competitive environment and may not be able to
successfully compete. Companies in our industry and entities in similar
industries could decide to focus on the development of software solutions for
the design, analysis and manufacturing of injection molded plastic parts. Many
of these entities have substantially greater financial, research and
development, manufacturing and marketing resources than we do. Increased
competition may result in price reductions, reduced profitability and loss of
market share.

    DISRUPTION OF OPERATIONS AT OUR DEVELOPMENT FACILITIES COULD INTERFERE WITH
OUR PRODUCT DEVELOPMENT AND PRODUCTION CYCLES.

    A significant portion of our computer equipment, source code and personnel,
including critical resources dedicated to research and development, are
presently located at operating facilities in Australia, the United States and
the United Kingdom. In addition, we subcontract with a provider in Ireland for
production of certain software media. The occurrence of a natural disaster or
other unanticipated catastrophe at any of these facilities could cause
interruptions in our operations and services. Extensive or multiple
interruptions in our operations at our development facilities could severely
disrupt our product development.

    OUR MANUFACTURING SOLUTIONS PRODUCT GROUP MAY LEAD TO PRODUCT LIABILITY
CLAIMS AGAINST US.

    Our Manufacturing Solutions products are installed directly on our
customers' injection molding machines and, in certain cases, automatically
adjust the operation of these machines. As a result, it is possible that our
customers may claim that our product interfered with the proper operation of
their machines and may seek reimbursement for consequential and other damages
from us. Although we expressly disclaim any liability for consequential or other
damages in connection with our sale of these products, this disclaimer may not
protect us from claims for damages from our customers and these claims may
adversely affect our relationships with our customers or our reputation
generally. In addition, our insurance coverage limits may not be adequate to
protect us against any product liability claims that arise. This insurance is
expensive and may not be available on acceptable terms, or at all.

                                       20
<Page>
    OUR STOCK PRICE IS HIGHLY VOLATILE AND OUR STOCK PRICE COULD EXPERIENCE
SUBSTANTIAL DECLINES AND OUR MANAGEMENT'S ATTENTION MAY BE DIVERTED FROM MORE
PRODUCTIVE TASKS.

    The stock market has experienced extreme price and volume fluctuations. In
addition, the per share price of our common stock has experienced significant
volatility since our initial public offering from a high of $30.13 to a low of
$7.68. Many factors may cause the market price for our common stock to decline,
including:

    - a decrease in the demand for our common stock,

    - revenues and operating results failing to meet the expectations of
      securities analysts or investors in any quarter,

    - downward revisions in securities analysts' estimates or changes in general
      market conditions,

    - technological innovations by competitors or in competing technologies,

    - investor perception of our industry or our prospects, and

    - general technology or economic trends.

    In the past, companies that have experienced volatility in the market price
of their stock have been the subjects of securities class action litigation. We
may be involved in securities class action litigation in the future. Such
litigation often results in substantial costs and a diversion of management's
attention and resources and could harm our business, financial condition and
results of operations.

ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

    We develop our products in research centers in Australia, the United Kingdom
and the United States. We sell our products globally through our direct sales
force and indirect distributor channels. As a result, our financial results are
affected by factors such as changes in foreign currency exchange rates and weak
economic conditions in foreign markets. In the future, we expect to increase our
international operations in our existing markets and in geographic locations
where we do not have any operations now.

    We collect amounts representing a substantial portion of our revenues and
pay amounts representing a substantial portion of our operating expenses in
foreign currencies. As a result, changes in currency exchange rates from time to
time may affect our operating results. We have begun to engage in hedging
transactions designed to reduce our exposure to changes in currency exchange
rates. We cannot assure you, however, that any efforts we make to hedge our
exposure to currency exchange rate changes will be successful.

                                       21
<Page>
                           PART II. OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

    From time to time, we may be involved in various claims and legal
proceedings arising in the ordinary course of business. We are not currently a
party to any such claims or proceedings which, if decided adversely to us, would
either individually or in the aggregate have a material adverse effect on our
business, financial condition or results of operations.

ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS

USE OF PROCEEDS FROM REGISTERED SECURITIES

    The effective date of the Securities Act registration statement for which
the use of proceeds information is being disclosed was March 27, 2000, and the
Commission file number assigned to the registration statement is 333-95289. As
disclosed in our quarterly report on Form 10-Q for the period ended April 1,
2000, we used approximately $11.2 million of the net proceeds to fund the
acquisition of C-Mold on April 13, 2000. On March 28, 2001, we used
approximately $3.7 million to fund the acquisition of Branden
Technologies, Inc. No payments of the net proceeds were made to (i) any of our
directors, officers, general partners or their associates, (ii) any person
owning 10% or more of any class of our equity securities or (iii) any of our
affiliates.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

(a.) Exhibits:
    None.

(b.) Reports on Form 8-K
    None.

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<Page>
                                   SIGNATURES

    Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

<Table>
<S>                                                    <C>  <C>
                                                       MOLDFLOW CORPORATION

                                                       By:             /s/ MARC J.L. DULUDE
                                                            -----------------------------------------
                                                                         Marc J.L. Dulude
                                                              PRESIDENT AND CHIEF EXECUTIVE OFFICER

                                                       MOLDFLOW CORPORATION

                                                       By:            /s/ SUZANNE E. ROGERS
                                                            -----------------------------------------
                                                                        Suzanne E. Rogers
                                                                  VICE PRESIDENT OF FINANCE AND
                                                            ADMINISTRATION AND CHIEF FINANCIAL OFFICER
                                                                  (PRINCIPAL FINANCIAL OFFICER)
Date: November 12, 2001
</Table>

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