<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: DECEMBER 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 10,087,915 shares of our common stock, par value $0.01,
outstanding on February 8, 2002.

--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
<Page>
                              MOLDFLOW CORPORATION
                                   FORM 10-Q
                    FOR THE QUARTER ENDED DECEMBER 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 December 29, 2001 and
           June 30, 2001.............................................      2
         Consolidated Statement of Income for the three months ended
           December 29, 2001 and December 30, 2000 and for the six
           months ended December 29, 2001 and December 30, 2000......      3
         Consolidated Statement of Cash Flows for the six months
           ended December 29, 2001 and December 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......................................................     23

Part II. OTHER INFORMATION
Item 1.  Legal Proceedings...........................................     24
Item 2.  Changes in Securities and Use of Proceeds...................     24
Item 4.  Submission of Matters to a Vote of Security Holders.........     24
Item 6.  Exhibits and Reports on Form 8-K............................     24
Signatures...........................................................     25
</Table>

                                       1
<Page>
                         PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

                              MOLDFLOW CORPORATION

                           CONSOLIDATED BALANCE SHEET

                                 (IN THOUSANDS)

                                  (UNAUDITED)

<Table>
<Caption>
                                                              DECEMBER 29,    JUNE 30,
                                                                  2001          2001
                                                              ------------   ----------
<S>                                                           <C>            <C>
ASSETS
Current assets:
  Cash and cash equivalents.................................     $46,482      $32,969
  Marketable securities.....................................       1,015       12,750
  Accounts receivable, net..................................       6,452        7,241
  Prepaid expenses and other current assets.................       3,201        3,309
                                                                 -------      -------
  Total current assets......................................      57,150       56,269
Fixed assets, net...........................................       4,102        4,027
Goodwill, net...............................................       8,789        8,003
Intangible assets, net......................................       1,700        2,814
Other assets................................................         333          342
                                                                 -------      -------
  Total assets..............................................     $72,074      $71,455
                                                                 =======      =======

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
  Accounts payable..........................................     $ 1,478      $ 1,040
  Accrued expenses..........................................       6,559        6,346
  Deferred revenue..........................................       5,757        6,372
                                                                 -------      -------
  Total current liabilities.................................      13,794       13,758
Other long-term liabilities.................................          88          104
                                                                 -------      -------
  Total liabilities.........................................      13,882       13,862
                                                                 -------      -------
Stockholders' equity:
  Common stock..............................................         101          101
  Additional paid-in capital................................      62,702       62,507
  Treasury stock, at cost...................................        (464)          --
  Deferred stock compensation...............................         (18)         (28)
  Notes receivable from stockholders........................         (28)         (37)
  Accumulated deficit.......................................      (3,625)      (4,752)
  Accumulated other comprehensive loss......................        (476)        (198)
                                                                 -------      -------
  Total stockholders' equity................................      58,192       57,593
                                                                 -------      -------
  Total liabilities and stockholders' equity................     $72,074      $71,455
                                                                 =======      =======
</Table>

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

                                       2
<Page>
                              MOLDFLOW CORPORATION

                        CONSOLIDATED STATEMENT OF INCOME

                     (IN THOUSANDS, EXCEPT PER SHARE DATA)

                                  (UNAUDITED)

<Table>
<Caption>
                                                  THREE MONTHS ENDED             SIX MONTHS ENDED
                                              ---------------------------   ---------------------------
                                              DECEMBER 29,   DECEMBER 30,   DECEMBER 29,   DECEMBER 30,
                                                  2001           2000           2001           2000
                                              ------------   ------------   ------------   ------------
<S>                                           <C>            <C>            <C>            <C>
Revenue:
  Software licenses.........................     $4,923         $6,728         $8,930         $11,950
  Services..................................      4,245          3,690          8,410           7,292
                                                 ------         ------         ------         -------
  Total revenue.............................      9,168         10,418         17,340          19,242
                                                 ------         ------         ------         -------
Costs and expenses:
  Cost of software licenses revenue.........        736            420          1,306             761
  Cost of services revenue..................        324            396            643             739
  Research and development..................      1,464          1,592          2,829           3,179
  Selling and marketing.....................      4,723          4,650          9,207           8,941
  General and administrative................      1,819          1,690          3,416           3,075
  Amortization of goodwill and other
    intangible assets.......................        164            392            328             759
                                                 ------         ------         ------         -------
  Total operating expenses..................      9,230          9,140         17,729          17,454
                                                 ------         ------         ------         -------
Income (loss) from operations...............        (62)         1,278           (389)          1,788
Interest income, net........................        353            588            855             960
Other income, net...........................      1,193             27          1,217              62
                                                 ------         ------         ------         -------
Income before income taxes..................      1,484          1,893          1,683           2,810
Provision for income taxes..................        490            605            556             987
                                                 ------         ------         ------         -------
  Net income................................     $  994         $1,288         $1,127         $ 1,823
                                                 ======         ======         ======         =======
Net income per common share:
  Basic.....................................      $0.10          $0.14          $0.11           $0.20
  Diluted...................................      $0.10          $0.13          $0.11           $0.19
Shares used in computing net income per
  common share:
  Basic.....................................     10,055          9,371         10,072           9,279
  Diluted...................................     10,327          9,904         10,360           9,801
</Table>

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

                                       3
<Page>
                              MOLDFLOW CORPORATION

                      CONSOLIDATED STATEMENT OF CASH FLOWS

                                 (IN THOUSANDS)

                                  (UNAUDITED)

<Table>
<Caption>
                                                                   SIX MONTHS ENDED
                                                              ---------------------------
                                                              DECEMBER 29,   DECEMBER 30,
                                                                  2001           2000
                                                              ------------   ------------
<S>                                                           <C>            <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income..................................................    $ 1,127        $ 1,823
Adjustments to reconcile to net cash provided by operating
  activities:
  Gain on disposal of fixed assets..........................       (625)            --
  Gain on sale of long-term investment......................       (504)            --
  Loss on disposal of fixed assets..........................         --              7
  Depreciation and amortization.............................        962          1,279
  Provisions for doubtful accounts..........................         35             26
  Foreign exchange gains....................................       (117)           (58)
  Other non-cash charges to income..........................         62             --
  Changes in assets and liabilities:
    Accounts receivable.....................................        802         (2,067)
    Prepaid expenses and other current assets...............        446           (390)
    Other assets............................................         (3)            29
    Accounts payable........................................        419            602
    Accrued expenses........................................        215            917
    Deferred revenue........................................       (636)          (191)
                                                                -------        -------
  Net cash provided by operating activities.................      2,183          1,977
                                                                -------        -------

CASH FLOWS FROM INVESTING ACTIVITIES:
  Purchases of fixed assets.................................       (996)        (1,300)
  Proceeds from fixed asset disposals.......................        930          1,126
  Purchases of marketable securities........................         --         (9,171)
  Sales of marketable securities............................     11,304             --
  Proceeds from sale of long-term investment................        565             --
  Additional acquisition costs..............................         --           (269)
                                                                -------        -------
  Net cash provided by (used in) investing activities.......     11,803         (9,614)
                                                                -------        -------

CASH FLOWS FROM FINANCING ACTIVITIES:
  Proceeds from repayment of notes receivable from
    stockholder.............................................         10            173
  Borrowings on bank notes payable..........................         --              5
  Payments on bank notes payable............................         --           (629)
  Payments on capital lease obligations.....................         --             (9)
  Issuance of common stock..................................        195         12,828
  Repurchase of common stock................................       (464)            --
                                                                -------        -------
  Net cash (used in) provided by financing activities.......       (259)        12,368
                                                                -------        -------
Effect of exchange rate changes on cash and cash
  equivalents...............................................       (214)          (318)
                                                                -------        -------

NET INCREASE IN CASH AND CASH EQUIVALENTS...................     13,513          4,413
Cash and cash equivalents, beginning of period..............     32,969         27,259
                                                                -------        -------
Cash and cash equivalents, end of period....................    $46,482        $31,672
                                                                =======        =======
</Table>

   The accompanying notes are an integral part of the 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 and six month periods ended
December 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 No. 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 to purchase common stock is determined under the
treasury stock method

                                       5
<Page>
                              MOLDFLOW CORPORATION

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

2.  NET INCOME PER COMMON SHARE (CONTINUED)
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             SIX MONTHS ENDED
                                              ---------------------------   ---------------------------
                                              DECEMBER 29,   DECEMBER 30,   DECEMBER 29,   DECEMBER 30,
                                                  2001           2000           2001           2000
                                              ------------   ------------   ------------   ------------
                                                        (IN THOUSANDS, EXCEPT PER SHARE DATA)
<S>                                           <C>            <C>            <C>            <C>
Net income..................................     $   994        $1,288         $ 1,127        $1,823
                                                 =======        ======         =======        ======
Weighted average shares used in computing
  net income per common share--basic........      10,055         9,371          10,072         9,279
                                                 -------        ------         -------        ------
Effect of dilutive securities:
  Restricted stock..........................          15            75              21            87
  Stock options.............................         257           458             267           435
                                                 -------        ------         -------        ------
  Dilutive potential common shares..........         272           533             288           522
                                                 -------        ------         -------        ------
Weighted average shares used in computing
  net income per common share--diluted......      10,327         9,904          10,360         9,801
                                                 =======        ======         =======        ======
Net income per common share--basic..........       $0.10         $0.14           $0.11         $0.20
Net income per common share--diluted........       $0.10         $0.13           $0.11         $0.19
</Table>

3.  SALES OF ASSETS

    In November 2001, the Company sold a portion of its land and certain other
property in Melbourne, Australia for cash proceeds of $930,000. The realized
gain on the sale of $625,000, net of related selling expenses, has been included
as a component of other income and expense.

    In December 2001, the Company sold its remaining minority investment in an
Indian software company for cash proceeds of $565,000. The realized gain on the
sale of $504,000, net of related selling expenses, also has been included as a
component of other income and expense.

4.  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 (loss) 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 (loss) to current earnings as a component of
other income and expense. 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

                                       6
<Page>
                              MOLDFLOW CORPORATION

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

4.  DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (CONTINUED)
component of other income and expenses. During the three and six month periods
ended December 29, 2001 and December 30, 2000, there were no such
discontinuations.

    At December 29, 2001, currency options and collars designated as hedging
instruments with notional amounts of $11,718,000, $11,507,000 and $3,603,000 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
December 29, 2001, instruments with fair values of $441,000 and $66,000 were
recorded as components of other current assets and other current liabilities,
respectively. Net unrealized gains on these instruments of $211,000 were
included in accumulated other comprehensive income (loss). The Company expects
these instruments to affect earnings over the next nine months. During the three
and six month periods ended December 29, 2001, gains of $101,000 and $147,000
were recorded as components of other income and expense, respectively.

    At December 30, 2000, currency options designated as hedging instruments
with notional amounts of $4,267,000, $2,905,000 and $1,973,000 to exchange
Euros, Yen and Australian dollars for U.S. dollars, respectively, were
outstanding. The fair value of the outstanding options as of December 30, 2000
was $218,000, which was included in other current assets. Unrealized gains were
$65,000 at December 30, 2000. During the three months ended December 30, 2000, a
net loss of $37,000 related to these hedges was recorded as a component of other
income and expense. The charge represented recognition of the ineffective
portion of the Company's outstanding options of $89,000, net of gains of $52,000
on options that were settled during the period. During the six months ended
December 30, 2000, a net loss of $120,000 related to these hedges was recorded
as a component of other income and expense. The charge represented recognition
of the ineffective portion of the Company's outstanding options of $205,000, net
of gains of $85,000 on options that were settled during the period.

5.  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 6). 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, stating
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

                                       7
<Page>
                              MOLDFLOW CORPORATION

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

5.  GOODWILL AND OTHER INTANGIBLE ASSETS (CONTINUED)
the standard is first adopted. Subsequently, companies must 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 and
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.

6.  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 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.

7.  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. The Company established technological feasibility of Moldflow
Plastics Insight version 3.0 ("MPI 3.0") in the first quarter of fiscal 2002 and
released the product commercially in November 2002. In accordance with SFAS
No. 86, research and development costs of $602,000 were capitalized during the
six months ended December 29, 2001. These costs are being amortized to cost of
software licenses revenue over the estimated economic life of the product.

8.  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 December 29, 2001.

                                       8
<Page>
                              MOLDFLOW CORPORATION

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

8.  COMMON STOCK AND STOCK PLANS (CONTINUED)

    A summary of the Company's stock option activity for the three and six month
periods ended December 29, 2001 follows:

<Table>
<Caption>
                                               THREE MONTHS ENDED               SIX MONTHS ENDED
                                                DECEMBER 29, 2001               DECEMBER 29, 2001
                                          -----------------------------   -----------------------------
                                                       WEIGHTED AVERAGE                WEIGHTED AVERAGE
                                            SHARES      EXERCISE PRICE      SHARES      EXERCISE PRICE
                                          ----------   ----------------   ----------   ----------------
<S>                                       <C>          <C>                <C>          <C>
Outstanding at beginning of period......   1,591,166        $12.37         1,116,460        $12.07
Granted.................................      54,050         11.35           550,000         12.75
Exercised...............................      (3,598)         1.95           (13,922)         1.30
Canceled................................     (27,472)        15.29           (38,392)        15.60
                                          ----------                      ----------
Outstanding at end of period............   1,614,146         12.31         1,614,146         12.31
                                          ==========                      ==========
Options exercisable at end of period....     425,890
Options available for future grant......   1,029,492
</Table>

9.  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 Company's hedging instruments and on
the Company's marketable securities.

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

<Table>
<Caption>
                                  THREE MONTHS ENDED             SIX MONTHS ENDED
                              ---------------------------   ---------------------------
                              DECEMBER 29,   DECEMBER 30,   DECEMBER 29,   DECEMBER 30,
                                  2001           2000           2001           2000
                              ------------   ------------   ------------   ------------
                                                   (IN THOUSANDS)
<S>                           <C>            <C>            <C>            <C>
Net income..................     $   994        $1,288         $ 1,127        $ 1,823
Other comprehensive income
  (loss):
  Changes in fair value of
    marketable securities,
    net of related tax
    effect..................        (224)         (817)           (316)        (1,778)
  Changes in value of
    financial instruments
    designated as hedges,
    net of related tax
    effect..................         587           (42)             68             65
  Foreign currency
    translation
    adjustment..............         165            95             (30)          (377)
                                 -------        ------         -------        -------
  Other comprehensive income
    (loss)..................         528          (764)           (278)        (2,090)
                                 -------        ------         -------        -------
Comprehensive income
  (loss)....................     $ 1,522        $  524         $   849        $  (267)
                                 =======        ======         =======        =======
</Table>

                                       9
<Page>
                              MOLDFLOW CORPORATION

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

10.  UNSECURED CREDIT FACILITY

    In November 2001, the Company completed the restructuring of its existing
working capital credit facility, establishing a new, unsecured $5.0 million
facility with the same domestic bank. The available borrowing base of the
facility is subject to a calculation which is based upon eligible accounts
receivable. Advances may be in the form of loans, letters of credit, foreign
exchange contracts or other cash management lines. Loans against the facility
bear interest at the prime rate. The facility includes certain restrictive
covenants, all of which the Company was in compliance with as of December 29,
2001. These covenants include certain liquidity and profitability measures and
restrictions that limit the ability of the Company to merge, acquire or sell
assets without prior approval from the bank. As of December 29, 2001, the
Company had employed $2.6 million of the available borrowing base through
outstanding foreign exchange contracts and letters of credit. As of
December 29, 2001, there were no loans advanced against the facility and the
remaining available borrowing base was $2.0 million.

11.  SEGMENT AND GEOGRAPHIC INFORMATION

    The Company is engaged in one reportable industry segment: the development,
marketing and support of software products for the plastic design and
manufacturing industry.

    Geographic information regarding the Company's operations follows:

<Table>
<Caption>
                                      THREE MONTHS ENDED             SIX MONTHS ENDED
                                  ---------------------------   ---------------------------
                                  DECEMBER 29,   DECEMBER 30,   DECEMBER 29,   DECEMBER 30,
                                      2001           2000           2001           2000
                                  ------------   ------------   ------------   ------------
                                                       (IN THOUSANDS)
<S>                               <C>            <C>            <C>            <C>
REVENUE FROM UNAFFILIATED
  CUSTOMERS:
Asia/Australia
  Software licenses.............     $1,580        $ 2,341        $ 3,039        $ 4,021
  Services......................      1,150          1,021          2,313          1,938
                                     ------        -------        -------        -------
  Total Asia/Australia..........      2,730          3,362          5,352          5,959
                                     ------        -------        -------        -------
USA
  Software licenses.............      1,282          2,172          2,242          3,462
  Services......................      1,600          1,430          3,229          2,971
                                     ------        -------        -------        -------
  Total USA.....................      2,882          3,602          5,471          6,433
                                     ------        -------        -------        -------
Europe
  Software licenses.............      2,061          2,215          3,649          4,467
  Services......................      1,495          1,239          2,868          2,383
                                     ------        -------        -------        -------
  Total Europe..................      3,556          3,454          6,517          6,850
                                     ------        -------        -------        -------
Consolidated
  Software licenses.............      4,923          6,728          8,930         11,950
  Services......................      4,245          3,690          8,410          7,292
                                     ------        -------        -------        -------
  Total consolidated............     $9,168        $10,418        $17,340        $19,242
                                     ======        =======        =======        =======
</Table>

<Table>
<Caption>
                                  DECEMBER 29,    JUNE 30,
                                      2001          2001
                                  ------------   -----------
<S>                               <C>            <C>           <C>           <C>
FIXED ASSETS, NET:
  Asia/Australia................     $1,715        $ 2,118
  USA...........................      1,332          1,465
  Europe........................      1,055            444
                                     ------        -------
  Total consolidated............     $4,102        $ 4,027
                                     ======        =======
</Table>

                                       10
<Page>
                              MOLDFLOW CORPORATION

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

12.  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 19.
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             SIX MONTHS ENDED
                              ---------------------------   ---------------------------
                              DECEMBER 29,   DECEMBER 30,   DECEMBER 29,   DECEMBER 30,
                                  2001           2000           2001           2000
                              ------------   ------------   ------------   ------------
<S>                           <C>            <C>            <C>            <C>
Revenue:
  Software licenses.........       53.7%          64.6%          51.5%          62.1%
  Services..................       46.3           35.4           48.5           37.9
                                  -----          -----          -----          -----
  Total revenue.............      100.0%         100.0%         100.0%         100.0%
                                  =====          =====          =====          =====

Costs and expenses:
  Cost of software licenses
    revenue.................        8.0%           4.0%           7.5%           4.0%
  Cost of services
    revenue.................        3.5            3.8            3.7            3.8
  Research and
    development.............       16.0           15.3           16.3           16.5
  Selling and marketing.....       51.5           44.6           53.1           46.5
  General and
    administrative..........       19.9           16.2           19.7           16.0
  Amortization of goodwill
    and other intangible
    assets..................        1.8            3.8            1.9            3.9
                                  -----          -----          -----          -----
  Total operating
    expenses................      100.7           87.7          102.2           90.7
                                  -----          -----          -----          -----
Income (loss) from
  operations................       (0.7)          12.3           (2.2)           9.3
Interest income, net........        3.9            5.6            4.9            5.0
Other income, net...........       13.0            0.3            7.0            0.3
                                  -----          -----          -----          -----
Income before income
  taxes.....................       16.2           18.2            9.7           14.6
Provision for income
  taxes.....................        5.4            5.8            3.2            5.1
                                  -----          -----          -----          -----
  Net income................       10.9%          12.4%           6.5%           9.5%
                                  =====          =====          =====          =====
</Table>

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

    REVENUE.  Total revenue decreased by 12%, or $1.3 million, to $9.2 million
for the three months ended December 29, 2001, from $10.4 million for the three
months ended December 30, 2000. In the same period, software licenses revenue
decreased by 27%, or $1.8 million, to $4.9 million from $6.7 million. The
following table sets forth our software licenses revenue by product group:

<Table>
<Caption>
                                                          THREE MONTHS ENDED
                                                      ---------------------------
                                                      DECEMBER 29,   DECEMBER 30,
                                                          2001           2000
                                                      ------------   ------------
                                                            (IN THOUSANDS,
                                                        EXCEPT PERCENTAGE DATA)
<S>                                                   <C>            <C>
Software licenses revenue:
  Design Optimization Solutions.....................     $4,063         $6,109
  Manufacturing Solutions...........................        860            619
                                                         ------         ------
  Total.............................................     $4,923         $6,728
                                                         ======         ======
Percent of total software licenses revenue:
  Design Optimization Solutions.....................       82.5%          90.8%
  Manufacturing Solutions...........................       17.5            9.2
                                                         ------         ------
  Total.............................................      100.0%         100.0%
                                                         ======         ======
</Table>

    The demand for our products is largely driven by demand 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 eighteen months. This continued downturn significantly
contributed to the decrease in licensing revenue in the second 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.

    Services revenue increased by 15%, or $555,000, to $4.2 million for the
three months ended December 29, 2001, from $3.7 million for the three months
ended December 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 December 29, 2001 and December 30, 2000.

    COST OF REVENUE.  The cost of software licenses revenue increased 75%, or
$316,000, to $736,000 for the three months ended December 29, 2001, from
$420,000 for the three months ended December 30, 2000. This increase was
primarily attributable to increased sales of our Manufacturing Solutions
products, which include hardware components and therefore have a higher cost of
materials than our Design Optimization Solutions products. We expect that sales
of our Manufacturing Solutions products will continue to represent a significant
portion of our total revenues. Since these products include hardware components
and therefore have a higher cost of materials, we expect our gross margins on
product revenue to remain consistent with or slightly lower than the gross
margin experienced in the quarter ended December 29, 2001.

    The cost of services revenue decreased 18%, or $72,000, to $324,000 for the
three months ended December 29, 2001, from $396,000 for the three months ended
December 29, 2000. This decrease was a result of decreased headcount and reduced
travel costs.

    RESEARCH AND DEVELOPMENT.  Research and development expenses decreased 8%,
or $128,000, to $1.5 million for the three months ended December 29, 2001, from
$1.6 million for the three months

                                       14
<Page>
ended December 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 feasibility on Moldflow Plastics
Insight version 3.0 ("MPI 3.0") releasing the product commercially in November
2001. In accordance with SFAS No. 86, software costs of $261,000 incurred during
the three months ended December 29, 2001 were capitalized and included as a
component of fixed assets. These costs are being amortized to cost of software
licenses revenue over the estimated economic life of the product.

    SELLING AND MARKETING.  Selling and marketing expenses increased 2%, or
$73,000, to $4.7 million for the three months ended December 29, 2001, from
$4.6 million for the three months ended December 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
8%, or $129,000, to $1.8 million for the three months ended December 29, 2001,
from $1.7 million for the three months ended December 30, 2000. This increase
was due to additional personnel costs 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
58%, or $228,000, to $164,000 for the three months ended December 29, 2001 from
$392,000 for the three months ended December 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.

    INTEREST INCOME, NET.  Interest income, net decreased 40%, or $235,000 to
$353,000 for the three months ended December 29, 2001 from $588,000 for the
three months ended December 30, 2000. The decrease was primarily the result of
declining interest rates and the conversion of marketable securities to cash and
other highly liquid instruments.

    OTHER INCOME, NET.  Other income, net increased to $1.2 million for the
three months ended December 29, 2001 from $27,000 from the three months ended
December 30, 2000. Other income, net includes realized and unrealized exchange
gains and losses on intercompany account balances, recognized gains and losses
on our foreign exchange hedging instruments, and gains recognized on sales of
assets. In November 2001, we sold a portion of our land holdings and certain
other property in Melbourne, Australia, realizing a net gain before taxes of
$625,000. In December 2001, we sold our remaining minority investment in an
Indian software company, realizing a net gain before taxes of $504,000.

    PROVISION FOR INCOME TAXES.  The provision for income taxes decreased 19%,
or $115,000, to $490,000 for the three months ended December 29, 2001 from
$605,000 for the three months ended December 30, 2000. Our effective income tax
rate was 33% for the three months ended December 29, 2001 and 32% for the
corresponding period of the prior year.

SIX MONTHS ENDED DECEMBER 29, 2001 COMPARED TO SIX MONTHS ENDED DECEMBER 30,
  2000

    REVENUE.  Total revenue decreased by 10%, or $1.9 million, to $17.3 million
for the six months ended December 29, 2001, from $19.2 million for the six
months ended December 30, 2000. In the

                                       15
<Page>
same period, software licenses revenue decreased by 25%, or $3.0 million, to
$8.9 million from $12.0 million. The following table sets forth our software
licenses revenue by product group:

<Table>
<Caption>
                                                           SIX MONTHS ENDED
                                                      ---------------------------
                                                      DECEMBER 29,   DECEMBER 30,
                                                          2001           2000
                                                      ------------   ------------
                                                            (IN THOUSANDS,
                                                        EXCEPT PERCENTAGE DATA)
<S>                                                   <C>            <C>
Software licenses revenue:
  Design Optimization Solutions.....................     $7,404         $11,013
  Manufacturing Solutions...........................      1,526             937
                                                         ------         -------
  Total.............................................     $8,930         $11,950
                                                         ======         =======
Percent of total software licenses revenue:
  Design Optimization Solutions.....................       82.9%           92.2%
  Manufacturing Solutions...........................       17.1             7.8
                                                         ------         -------
  Total.............................................      100.0%          100.0%
                                                         ======         =======
</Table>

    The aforementioned economic declines in the industries of our primary
customers contributed to the decrease in licensing revenue in the first six
months of fiscal 2002. 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 our first fiscal
quarter.

    Services revenue increased by 15%, or $1.1 million, to $8.4 million for the
six months ended December 29, 2001, from $7.3 million for the six months ended
December 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
six-month periods ended December 29, 2001 and December 30, 2000.

    COST OF REVENUE.  The cost of software licenses revenue increased 72%, or
$545,000, to $1.3 million for the six months ended December 29, 2001, from
$761,000 for the six months ended December 30, 2000. This increase was primarily
attributable to increased sales of our Manufacturing Solutions products, which
include hardware components and therefore have a higher cost of materials than
our Design Optimization Solutions products. The cost of services revenue
decreased 13%, or $96,000, to $643,000 for the six months ended December 29,
2001, from $739,000 for the six months ended December 29, 2000. This decrease
was a result of decreased headcount and reduced travel costs.

    RESEARCH AND DEVELOPMENT.  Research and development expenses decreased 11%,
or $350,000, to $2.8 million for the six months ended December 29, 2001, from
$3.2 million for the six months ended December 30, 2000. This decrease was
primarily attributable to the capitalization of research and development costs
under the provisions of SFAS No. 86 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 feasibility on Moldflow
Plastics Insight version 3.0 ("MPI 3.0") releasing the product commercially in
November 2001. In accordance with SFAS No. 86, research and development costs of
$602,000 incurred during the six months ended December 29, 2001 were capitalized
and included as a component of fixed assets. These costs are being amortized to
cost of software license revenue over the estimated economic life of the
product.

    SELLING AND MARKETING.  Selling and marketing expenses increased 3%, or
$266,000, to $9.2 million for the six months ended December 29, 2001, from
$8.9 million for the six months ended December 30, 2000. The costs of increased
headcount from fiscal 2001 were partially offset by reductions in travel and
marketing initiatives.

                                       16
<Page>
    GENERAL AND ADMINISTRATIVE.  General and administrative expenses increased
11%, or $341,000, to $3.4 million for the six months ended December 29, 2001,
from $3.1 million for the six months ended December 30, 2000. This increase was
due to additional personnel costs, increased 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
57%, or $431,000, to $328,000 for the six months ended December 29, 2001 from
$759,000 for the six months ended December 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 5).

    INTEREST INCOME, NET.  Interest income, net decreased 11%, or $105,000, to
$855,000 for the six months ended December 29, 2001 from $960,000 for the six
months ended December 30, 2000. The decrease was primarily due to declining
interest rates and the conversion of marketable securities to cash and other
highly liquid investments.

    OTHER INCOME, NET.  Other income, net increased to $1.2 million for the six
months ended December 29, 2001 from $35,000 from the six months ended
December 30, 2000. Other income, net includes realized and unrealized exchange
gains and losses on intercompany account balances, recognized gains and losses
on our foreign exchange hedging instruments, and gains recognized on sales of
assets. In November 2001, we sold a portion of our land holdings and certain
other property in Melbourne, Australia, realizing a net gain before taxes of
$625,000. Also, we sold our remaining minority investment in an Indian software
company, realizing a net gain before taxes of $504,000.

    PROVISION FOR INCOME TAXES.  The provision for income taxes decreased 44%,
or $431,000, to $556,000 for the six months ended December 29, 2001 from
$987,000 for the six months ended December 30, 2000. Our effective income tax
rate was 33% for the six months ended December 29, 2001 and 35% 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, raising $36.9 million, net of offering costs. In December 2000, we
completed a second offering of common stock, raising $12.8 million, net of
offering costs. As of December 29, 2001, our primary sources of liquidity
consisted of our total cash and cash equivalents balance of $46.5 million and
our marketable securities balance of $1.0 million. In November 2001, we
completed the restructuring of our working capital credit line, resulting in an
available, unsecured credit facility of $5.0 million. The available borrowing
base of the facility is subject to a calculation which is based upon eligible
accounts receivable. As of December 29, 2001, the Company had employed
$2.6 million of the available borrowing base through outstanding foreign
exchange contracts and letters of credit. As of December 29, 2001, there were no
loans advanced against the facility and the remaining available borrowing base
was $2.0 million.

    Net cash provided by operating activities was $2.2 million for the six
months ended December 29, 2001. During the corresponding period ended
December 30, 2000, net cash of $2.0 million 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 accrued expenses and decreases in accounts receivable and
prepaid expenses, partially offset by gains realized on our sale of assets and
decreases in deferred revenue. Cash was generated by operations in the
corresponding period ended December 30, 2000 primarily through increases in net
income as

                                       17
<Page>
adjusted for non-cash charges and increases in accounts payable and accrued
expenses, partially offset by increases in accounts receivable and prepaid
expenses and decreases in deferred revenue.

    Net cash provided by investing activities was $11.8 million for the six
months ended December 29, 2001. During the corresponding period ended
December 30, 2000, investing activities used cash of $9.6 million. Cash was
provided in the current reporting period primarily by the conversion of
marketable securities into cash, proceeds from our sale of land and certain
other property in Melbourne, Australia and proceeds from sale of our minority
investment in an Indian software company, 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 $259,000 was used in financing activities during the six months
ended December 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,
proceeds received for common stock under the Company's Employee Stock Purchase
Plan and repayments of notes receivable from a stockholder. In the corresponding
period of fiscal 2001, net cash of $12.4 million was provided by the net
proceeds of our second public offering of common stock and the exercise of
employee stock options, offset by the repayment of debt obligations.

    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.

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.

                                       18
<Page>
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 second quarter of
fiscal 2002 was $9.2 million as compared with total revenue of $10.4 million in
the same quarter of the prior fiscal year. 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 increased 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.

    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 eighteen months. These economic declines
have been seen in all of our major end markets, including the US, Japan and
Europe. 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 continued
suspension in the normal purchasing patterns of our customers.

                                       19
<Page>
    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 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.

                                       20
<Page>
    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.

    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,

                                       21
<Page>
    - 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 PRODUCTS 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.

    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,

    - distribution or sales by affiliates or other institutional stockholders,

    - 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,

                                       22
<Page>
    - 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,
political climate 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 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.

                                       23
<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 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

    On November 20, 2001, the Company held its Annual Meeting of Stockholders.
The stockholders voted, either in person or by proxy, to elect two Class II
Directors for three-year terms and to amend the Company's Certificate of
Incorporation to reduce the number of authorized shares of its Common Stock from
60,000,000 to 40,000,000. The results of the stockholder vote were as follows:

PROPOSAL 1: ELECTION OF DIRECTORS:

<Table>
<Caption>
                                                                 FOR      WITHHELD
NAME OF DIRECTOR                                              ---------   ---------
<S>                                                           <C>         <C>
Mr. Dulude..................................................  8,311,975    485,348
Mr. Haydu...................................................  8,730,774     66,549
</Table>

PROPOSAL 2: AMENDMENT OF CERTIFICATE OF INCORPORATION:

<Table>
<Caption>

<S>                              <C>
FOR:                                   8,777,512
AGAINST:                                  17,886
ABSTAIN:                                   1,925
NO VOTE:                                       0
</Table>

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

(a.) Exhibits:

     3.3 Certificate of Amendment of Third Amended and Restated Certificate of
         Incorporation.

   10.36 Loan Agreement as of November 13, 2001 between Silicon Valley Bank and
         Moldflow Corporation.

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

                                       24
<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: February 11, 2002
</Table>

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