Interim report
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1 Half-year report 2026
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in EUR million H1 2026 H1 2025 Change compared to prev. year Total Operating Performance * 63.2 44.1 43.2% Adj. EBIT ** 36.4 24.5 49.0% Adj. EBIT margin in % 57.7% 55.5% 4.0% Consolidated net income 24.66 15.99 54.2% Earnings per share (in EUR) 2.47 1.60 54.2% Balance sheet total 83.53 57.66 44.9% Equity 38.38 27.16 41.3% Adj. Operating Cashflow 25.51 21.65 17.9% At a glance Key financial metrics 2Half-year report 2026 innoscripta SE 7,000 applications for the R&D tax incentive in Germany (H1) 49% adj. EBIT growth year-on-year ** 3 new locations opened outside Germany (UK as of July 01, 2026) 31 % of all large companies with certified R&D tax in- centives in 2025 are innoscripta customers >10% of the German R&D workforce are represented by the R&D employees captured in Clusterix *** >2,900 customers at innoscripta as of June 30, 2026 * includes total revenues, change in work-in-progress and other operating income ** EBIT Q2 2026A is adjusted for 535k€ of non-recurring expenses related to corporate restructuring and the establishment of the Group structure, as well as office relocations, temporary duplicate rents and fit-out costs; EBIT H1 2025A is adjusted for IPO costs. *** Based on 632,551 R&D employees in Germany’s business sector in 2023. Definitions of R&D personnel may differ; comparison is intended to indicate relative scale. Source: Stifterverband, Zahlenwerk 2025
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3 Content Foreword 04 AI cannot replace a regulatory-compliant infrastructure 06 innoscripta enters new markets 08 innoscripta on the capital market 11 Social and environmental responsibility as part of our corporate culture 13 Interim Management Report of innoscripta SE for the period from January 1 to June 30 15 Consolidated Financial Statements for the period from 01 January to 30 June 2026 23 Notes to the Consolidated Financial Statements 28 Review Report 43 Financial calendar 45 Imprint, Contact 46 Half-year report 2026 innoscripta SE
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4 innoscripta has consistently continued its successful growth trajectory in the first half of 2026. We increased our revenue by 43 percent to EUR 63.1 million, and our adjusted EBIT grew disproportionately by 49 percent to EUR 36.4 million. We generated the high growth entirely organically, while simultaneously continuing to optimize our Clusterix platform through the migration of additional IT systems. This will further significantly improve the quality and automated data validation of applications for the R&D tax incentive. As a result, R&D processes can be analyzed and documented even more effectively and effi- ciently. Despite the one-off and planned capacity constraints resulting from the migra - tion, our revenue also grew significantly in the second quarter, increasing by approxi - mately 23 percent compared with the same quarter of the previous year. Clusterix is a cloud-based SaaS platform that consolidates and processes all project data and costs from various data sources across a company: transparently and always audit-ready. We see the integration of digital processes with stringent compliance and traceability requirements as a key competitive advantage, particularly in an environment increasingly shaped by artificial intelligence. This is, for instance, a central prerequisite to an efficient application for tax-based funding for research projects. Ongoing demand for the research allowance continued to be a powerful growth driver in the first half of 2026. The German Research Allowance Certification Office (BSFZ) reported nearly 7,000 applications for the tax-based research allowance for the first six months of 2026, representing an increase of approx. 30 percent compared to the previous year, and expects a n expansion to aro und 20,000 applications by companies for the full year. With Clusterix, innoscripta holds a strong mar-ket position in appl ying for the tax- based research allowance for compan ies in Germany. The nu mber of our custome rs increased to over 2,900 in the first half of the year. Liebe Aktionäre und Partner, Half-year report 2026 innoscripta SE I Foreword Dear Shareholders and Partners,
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5 We have also already entered the US market. The acceptance and competitiveness of Clusterix in an international environment is underpinned by new customers, including a globally operating logistics company with several tens of thousands of employees. We intend to gradually expand our international revenue share in the coming years. In parallel to the growth of our business activities, we have fur- ther optimized our company structures. The number of our employees during the reporting period was an average of 396 employees with a clear focus on customer-facing and sales-related areas. With the successful relocation of innoscripta SE to its new headquarters in Tutzing, we have increased cost efficiency and bundled central corporate functions there. The first half of 2026 underpins the viability of our business model. Accordingly, and, assuming consistent timing of the sumbission and approval of our customers' applications, we confirm our guidance for the current fiscal year and expect consolidated revenue to increase to at least EUR 140 million, as well as EBIT of at least EUR 80 million. With a scalable platform and opportunities for international ex-pansion, we remain confident about the full-year outlook. The further increase in eligible expenditures from EUR 10 million previously to now EUR 12 million per company and year, as well as the flat-rate markup of 20% on eligible expenditures that is now possible, further support growth. innoscripta receives a per-centage share of the funding volume successfully applied for by its customers and thus immediately benefits from this increase. We are growing through new customers and existing customers alike, while further expanding our network of locations in Germa-ny. During the reporting period, we opened offices in Frankfurt and Hamburg. Alongside our development in Germany, the ongoing internationalization of our business activities represents an im- portant pillar of innoscripta's corporate strategy. The UK, France, and the USA exhibit an even significantly larger market volume for tax-based research and development incentives and are therefore highly attractive for innoscripta. The fact that Clus-terix can be adapted to new regulatory requirements within just a few weeks, facilitates market entry. In France, we opened o ur first location near Toulouse during the reporting period with a experienced regional team and already acquired our first French customers in the first half of the year. We initiated our expansion into the UK with a location in Manchester. Sincerely, Michael Hohenester Alexander Meyer Sebastian Schwertlein CEO CFO COO Half-year report 2026 innoscripta SE I Foreword
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6 Half-year report 2026 innoscripta SE The role of artificial intelligence at software companies is cur- rently the subject of heated debate. At innoscripta, AI and the Clusterix SaaS platform complement one another, combining efficient processes with compliance, governance, data integri- ty, and auditability. This combination opens up additional po - tential. In the automation of funding applications for research and de- velopment, or in the general documentation of projects, AI can be an important aid in optimizing workflows. However, the actual value creation does not lie in the mere gen- eration of individual documents, but in a regulatory-compliant infrastructure. Companies require traceable data, audit-proof documentation, complete audit trails, as well as transparent and reproducible decision-making processes. These require- ments form the very core of the Clusterix platform. AI cannot replace a regulatory-compliant infrastructure
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7 innoscripta therefore does not view artificial intelligence as a threat, but as a partial technological building block of its own platform. In the future, AI could, for example, automate project descriptions, analyze technical documentation, identify eligible activities, or prepare audit records. Clusterix then acts as the central data and governance platform that ensures the regula - tory quality, traceability, and integrity of these processes. At present, therefore, the opportunities created by AI clearly pre- dominate: the more complex regulatory requirements become, and the more intensively companies use AI, the greater the need for structured data, governance, and auditable processes. In the long term, artificial intelligence will therefore not replace the platform but will instead further enhance its utility and addition - ally strengthen the scalability of innoscripta's business model. Further development of Clusterix The standardized database created within Clusterix also enables new software solutions that hold significant potential and can simplify processes. One example is AI-supported benchmark - ing studies for transfer pricing. Based on structured R&D, finan - cial, and project data, it will in the future be possible to create far more comprehensive and robust comparative analyses than is customary today. Clusterix is increasingly evolving from a com - pliance platform into a data platform that enables additional regulatory and tax-related applications. AI as a technological building block While generative AI can create content, requirements regarding the verifiability and quality of the underlying data are rising at the same time, particularly in a regulatory environment. Half-year report 2026 innoscripta SE I AI cannot replace a regulatory-compliant infrastructure
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8 Half-year report 2026 innoscripta SE Internationalization is one of our key growth drivers. More than 2,900 domestic and international customers now use the Clus- terix platform for their research and development projects. Based on an internationally recognized methodological framework and a scalable technology platform, we are systematically transfer- ring our model, established in Germany, for documenting the research allowance to markets with large-volume R&D funding regimes. In line with our strategy, we opened locations in France, the United Kingdom, and the United States in the first months of 2026 and have already won our first customers there. ´ innoscripta enters new markets The Frascati Manual as a foundation for expansion The substantive foundation for assessing and categorizing R&D projects is the globally established Frascati Manual issued by the OECD. It is the world's leading methodology and defines research and experimental development based on criteria such as novelty, technological or scientific uncertainty, a systematic, hypothesis-based approach, and traceability and reproducibil - ity. Numerous national funding and tax incentive systems align their definitions and review practices with this framework. This makes Frascati-compliant project documentation a shared "working language" among companies, advisors, and authorities. It forms the basis for consistently documenting R&D activities and meeting country-specific requirements without any substantive discontinuity. Clusterix enables the OECD standard to be scaled internationally The universal Frascati standards form a central element of our Clusterix platform. Clusterix structures projects along these cri - teria, guides teams through the required documentation, and produces consistent, audit-ready records — from the description of the problem and hypothesis, through work programs and ev- idence of the research work, to a defensible cost allocation. The decisive advantage for an international rollout: Countries differ in their terminology, quotas, and procedural approaches, but not
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9 in the underlying methodology. As a result, Clusterix is built from the ground up to work across multiple countries and is ready for use across national borders. Rulesets, document templates, language settings, and workflows can be adapted on a country-by-country basis without altering the underlying model. Adapting Clusterix to a new regional market takes us only a few weeks. Regional sales as a success factor Alongside our unique Clusterix platform, our strong sales team is a core pillar of our suc - cessful business model. Our experience in Germany shows that personal contact, commu- nication tailored to the target group, and qualified customer support — from preliminary review through project outlines to the submission of applications — significantly increase the likelihood of success. Being on the ground with the customer is, even for us as a tech - nology-driven company, a guarantor of our rapid growth: since this year we have had our own offices and steadily growing sales teams in the strong business hubs of Frankfurt, Co- logne, and Hamburg in Germany. We are applying this same strategy in our international target markets, with a focus on local sales and support teams that contribute experience, networks, and background knowledge of the regulatory environment and industry dynam- ics in each respective country. Internationalization in full swing In the first half of 2026, innoscripta significantly developed three international markets. In Austria, our long-standing office in Vienna, originally opened in 2021, was expanded into a full-fledged representation and renamed innoscripta Austria GmbH. An efficient, expe - rienced team now serves the market for the Austrian research premium from the Vienna office. Several customers have been won, and work on their projects has begun. We took a major step in internationalization in the first half of 2026 with our market entry into France — one of the largest R&D funding markets in Europe by volume. After opening our French location near Toulouse, we quickly won over our first customers and demon - strated the transferability of our model to the environment of the French R&D tax credit scheme, the Crédit d'Impôt Recherche (CIR), and its complementary Crédit d'Impôt Inno - vation (CII). New French customers include innovative companies in digital entertainment technologies, 3D visualization, and immersive technologies. Half-year report 2026 innoscripta SE I innoscripta enters new markets Tutzing Munich Vienna Hamburg Frankfurt Cologne Manchester Balma
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10 eral credit typically ranges from approximately 6 to 12 percent of qualifying expenses. In addition, state credits can substantially increase this effect, making the United States a lucrative target market. The combination of consistently high R&D spending, a broad segment of mid-sized companies and scale-ups in tech- nology-intensive industries and increasing audit requirements creates an environment in which standardized, audit-proof pro- cesses are especially effective. Our software solution Clusterix is therefore very well suited to the US market. Outlook We see further attractive markets in Europe with established in- centive systems based on Frascati-compliant structuring. In the Netherlands, for example, the "Wet Bevordering Speur- en Ontwikkelingswerk" (WBSO - Research and Development Promo- tion Act) enables targeted relief on research-related personnel costs. A prerequisite is that time and activity records be clearly attributable to the respective project. Clusterix is well suited for this as well, and can be adapted quickly. In addition, Ireland, Bel- gium, Spain, Italy, and Portugal offer systems whose definitions and review practices are closely aligned with OECD standards. In the Nordic countries, such as Norway, the high density of technol- ogy-intensive industries drives continuous demand for efficient documentation solutions for R&D projects. Our internationalization strategy rests on a stable foundation. With a short time-to-market per country, reduced compliance risks, and a high degree of reusability of best practices across na- tional borders, innoscripta will complement its sustained strong growth in Germany with international expansion. In the United Kingdom, market entry has been completed (as of 01 July 2026). Here too, we are operating in a manner similar to France. Since April 2024, the United Kingdom has had a single, merged R&D funding scheme for both SMEs and large companies. It re- places the previously separate schemes for large companies (R&D expenditure credit, RDEC) and for SMEs. Our expectation based on the learning curve from France that we would quickly generate references and build a scalable pipeline in the United Kingdom as well has already been met. For example, we won LDRA, a software company specializing in software test-ing and analysis, as a customer. We are in advanced discussions with a number of other prospective customers. USA moves into focus as a growth market In parallel, innoscripta has initiated its market entry into the USA. This was made possible once Clusterix fully mapped the specific US workflows — in particular, the documentation of technologi- cal uncertainty and the "process of experimentation." In US prac- tice, this is a prerequisite for the Research Credit under Internal Revenue Code Section 41 (the federal R&D tax credit). innoscrip-ta expects to open a new office in New York on September 1; an experienced sales team is already active on the ground. The US market is large and heterogeneous: the federal R&D credit under IRC Section 41 is supplemented in numerous federal states by ad-ditional R&D tax credits (state credits). Taken together, this cre-ates a significant incentive framework that, depending on com-pany size, expenditure structure, and state, can effectively reach double-digit percentages of eligible expenses. The effective fed- Half-year report 2026 innoscripta SE I innoscripta enters new markets
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11 Despite the positive operational performance in the first half of the year, the innoscripta share recorded a price decline of around 15 percent in the reporting period. The positive operational per - formance is therefore not yet reflected in the share price devel - opment. The share achieved its highest closing price on February 3 at EUR 93.40; the lowest closing price was recorded on Febru - ary 24 at EUR 62.50. At the end of the reporting period, the share was quoted at EUR 76.50. Since the low point in February 2026, the share has in the meantime recovered by more than 30 percent to over EUR 80 as of mid-August. During the reporting period, an average of 9,436 shares were traded daily across all German stock exchanges, with more than 98 percent attributable to the Xetra trading venue. The innoscripta share continued to be covered by Warburg Re - search and Berenberg during the reporting period. Warburg Research continues to rate the share as "Buy"; the price target (as of May 2026) is EUR 225. The corresponding upside potential compared to the share price at the end of the reporting period amounts to nearly 200 percent. Warburg Research continues to forecast strong operational growth for innoscripta in the com - ing years. Berenberg also continues to rate the innoscripta share as "Buy" with a price target of EUR 200 (as of May 2026). Beren - berg particularly highlights the combination of high growth, high Global stock markets developed solidly in the first half of the year despite fluctuations and burdens from the Middle East conflict. The Scale 30 Index, in which innoscripta is listed, rose by 16.5 per- cent in the first half of the year. Many software companies came under pressure during the re - porting period, which was also reflected in the relevant indices. For example, the DAXsector All Software, an important sector in - dex of Deutsche Börse that tracks the performance of German software companies, lost more than 33 percent of its value during the reporting period. The Dow Jones U.S. Software Index also de - veloped negatively with a decline of around 21 percent. innoscripta on the capital market Half-year report 2026 innoscripta SE I Capital market report
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12 At the Annual General Meeting on April 22, 2026, innoscripta shareholders approved the payment of a dividend of EUR 4.00 per share for the 2025 fiscal year. All agenda items were resolved by a very large majority of over 97.6%. At the Annual General Meeting, Philipp von Ilberg, Stefan Berndt- von Bülow, and Dr. Erik Massmann were re-elected to the Super- visory Board. The board combines extensive experience in the areas of capital markets, financing, and international corporate development. ISIN / WKN DE000A40QVM8 / A40QVM Ticker symbol 1INN Stock market segment Scale, Open Market of the Frankfurt Stock Exchange Market places Frankfurt, Xetra, gettex, Stuttgart and others Initial listing May 23, 2025 Current share capital EUR 10,000,000.00 Total number of shares 10,000,000 Type of shares No-par value bearer ordinary shares (no par value shares) Associated index SCALE 30, SCALE All Share Designated sponsor Berenberg, ODDO BHF Research Warburg Research GmbH (in future: MPPM) Market capitalization (30 June 2026) EUR 765.0 million Shareholder structure as of June 30, 2026 56.3 % Hohenester Beteiligungs-UG 13.4 % Meyer Beteiligungs-UG 15 % innoscripta Beteiligungs GmbH 15.3 % Free float profitability, and strong cash flow. From Berenberg's perspective, innoscripta thus offers an attractive profile of profitable growth and what they consider an attractive valuation. Based on operational performance and the ongoing high growth prospects, innoscripta sees significant long-term potential for the further development of the company and the creation of shareholder value. innoscripta regularly informed its stakeholders about current business developments via mandatory disclosures, corporate news, and earnings calls. In addition, innoscripta participated in national and international conferences during the reporting pe- riod, such as the Berenberg EU Opportunities Conference in Lon- don and the Deutsche Börse Scale Summit. innoscripta stock price performance, 1st half-year 2026 100 95 90 85 80 75 70 65 60 Jan Feb Mar Apr May Jun EUR Half-year report 2026 innoscripta SE I Capital market report
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13 For innoscripta, social responsibility and sustainability are part of its corporate DNA. innoscripta is continuously committed to social projects and supports, for exam- ple, the Austrian relief organization SONNE International. In June 2026, innoscripta was the main sponsor of the SONNE "Bike Challenge". The 30-day community event combines sports and social commitment. Participants ride bicycles for a good cause after making an initial donation. Through this campaign, children from Malawi re- ceive direct support for their school ed- ucation and thus the chance for better prospects. A special focus of SONNE Inter- national is the targeted support of girls, who frequently drop out of school due to the difficult educational situation in Mala- wi. For instance, the relief organization pro- vides school fee support for girls who have been rescued from forced child marriages. In addition, sports programs are promot - ed at the schools, and self-defense work- Social and environmental responsibility as part of our corporate culture Half-year report 2026 innoscripta SE I Sustainability
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14 For innoscripta, sustainability means not only social engage - ment but also, for example, reducing our environmental footprint. Several EV charging stations are available at the new company headquarters in Tutzing. Employee satisfaction and an attractive working environment matter greatly to innoscripta. That's why innoscripta offers, among other things, childcare subsidies, a fitness studio at the Munich location, and a Wellpass for employees. innoscripta also covers or subsidizes the cost of the Deutschland-Ticket, Germany’s na - tionwide local public transport pass. Through targeted support for training and continuing education, innoscripta promotes the professional and personal development of its employees. Moreover, innoscripta places great importance on supporting young people, for example in their athletic ambitions. innoscripta supports, for instance, the German bobsledder Florian Bauer, who won silver medals in the two-man and four-man bobsled events at the 2022 Winter Olympics. Thanks to innoscripta's sponsorship, Florian Bauer is able to continue his intensive training with con - sistency and participate in international competitions. shops are offered. In this way, girls in particular strengthen their self-confidence and learn to lead a self-determined life. SONNE International is committed to ensuring that, in addition to estab- lishing such programs, local teachers are trained accordingly. More than 300 children from Malawi should be able to partici - pate in the programs. innoscripta consciously chose this project because education, personal development, and the opportunity to lead a self-determined life are central values for us. Through the Bike Challenge, more than 500 cyclists covered a total of 208,000 kilometers and approximately 90,000 EUR in donations were raised. Half-year report 2026 innoscripta SE I Sustainability
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15 Half-year report 2026 innoscripta SE I Interim Management Report I. Overview of the Company and the Group 1. Business Model innoscripta SE (hereinafter: “innoscripta”) is the parent company of the innoscripta Group (hereinafter: “Group”) and, with its core product “Clusterix,” is a software company that enables companies to plan, execute, and manage projects, primarily in the areas of research and (product) development (hereinafter: “R&D”). The software is tailored to the application for tax incentives (e.g., under the Research Al-lowance Act, FZulG) for innovative projects, including the planning and GoBD-compliant documentation of the funded pro- jects and the allocation of personnel to them. The Group’s range of services includes the following components: • Simplification, transparency, and audit compliance in R&D funding through the provision of the Clusterix software tool, thanks to con- tinuous and clear project management (milestones / interim reports/ final reports / time tracking). • As part of the software onboarding process, support – particularly for major clients – in - developing a funding-eligible and commercially viable overall concept for R&D and innovation projects, - submitting applications for funding for innovative projects and R&D activities, - Project creation and management, - Preparing submissions of R&D certificates and grant award notices, - Compliance and documentation • Selection and recruitment of research and corporate partners with the appropriate expertise for a specific innovation project (existing projects nearing completion, i.e., within the framework of funding programs with the exception of tax-based research funding, in par- ticular the Central Innovation Program for SMEs). Interim Management Report of innoscripta SE for the period from January 1 to June 30, 2026
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16 Half-year report 2026 innoscripta SE I Interim Management Report 2. Research and Development Applied research and development make companies future-proof. That is why innoscripta has continuously invested in its own develop- ment since the company was founded in 2012. AI-based algorithms support the management of R&D projects, reporting requirements, and the guideline-specific administration of funded projects. Currently, our software developers, as well as external freelancers, are continuously working on further expanding the functionalities of Clusterix; among other things, they are developing various cloud solutions. In the first half of 2026, the Group incurred approximately MEUR 3.8 (first half of 2025: MEUR 3.0) in research and development expenses, primarily for the further development of Clusterix. II. Business Report 1. Macroeconomic and Industry-Specific Conditions The Group’s industry-specific market environment—the development and sale of enterprise software designed to assist with applications for grants for R&D projects—is largely independent of general eco-nomic trends and developments in individual industries. In Germany, for example, this is also evident when looking at the general economic indicator (“GDP”) and interest rates: Despite moderate growth in German GDP of 0.4% in the first quarter and 0.2% in the second quarter of 2026, the Group once again recorded significant increases in revenue and profit. 2. Business Performance In the first half of 2026, the Group continued the very strong performance of recent years, which is attributable in particular to the invest- ments made in recent years in the development of our software (including Clusterix). At MEUR 24.7, the Group’s net income for the first half of the year is significantly higher than that of the first half of 2025 (MEUR 16.0). Dur- ing the reporting period, the number of grant applications submitted rose significantly; as a result, the Group’s revenue and EBIT also increased substantially. innoscripta’s Executive Board is satisfied with this business performance and anticipates continued positive de- velop-ment of business activities in the future.
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17 Half-year report 2026 innoscripta SE I Interim Management Report 3. Financial Performance Indicators For internal corporate management purposes, the Group uses the following key performance indicators: the number of applications submitted for R&D certificates under the tax-based research incentive program, the number of applications submitted for tax incentives outside Germany, the number of grant applications submitted under other funding programs, revenue, and EBIT. The volume of submitted applications for R&D certificates under the tax-based research incentive program, as well as applications for funding under other grant programs, corresponds to the net commission volume of all applications submitted to the relevant project administrators. Whether such an application is ultimately approved or rejected is irrelevant to this metric, as it merely describes whether and how many applications were fully prepared by the Group and submitted by the clients. The commission on submitted funding applications (including those not yet decided) amounted to MEUR 52.9 in the first half of 2026 (first half of 2025: MEUR 44.3 ). Consequently, in the first half of 2026, a significant year-over-year increase was achieved in the number of funding applications submitted relative to production, driven by a growing workforce within the Group and further efficiency gains . 4. Financial Position a) Earnings Situation In the first half of 2026, the Group generated operating revenue of MEUR 63.1 (previous year: MEUR 44.1) due to the increased volume of approved grant applications compared to the first half-year of the previous year. The Group’s continued growth and the expansion of service quality require highly qualified personnel. As a result of investments in new staff, the average number of employees rose to 396 in the first half of 2026 (previous year: 337). Personnel expenses increased by TEUR 3,400 to TEUR 16,222. This is primarily attributable to the hiring of new employees and higher variable employee compensation re- sulting from strong revenue growth. Other operating expenses rose from TEUR 5,473 to TEUR 8,212 compared to the prior year. They include, among other items, rent (TEUR 1,176, prior year: TEUR 703), costs related to recruitment and the establishment of partnerships (TEUR 1,007 , prior year: TEUR 0 ), legal and consulting fees (TEUR 1,187; prior year: TEUR 972 ), data center costs (882 TEUR; prior year: 396 TEUR), and other operating expenses (TEUR 3,960, prior year: TEUR 3,402 TEUR).
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18 Half-year report 2026 innoscripta SE I Interim Management Report EBIT rose from TEUR 23,803 in the prior year to TEUR 35,904, primarily as a result of the increase in revenue. Taking into account income taxes of TEUR 11,477 (previous year: TEUR 7,892), consolidated net income for the first half of the year amounts to TEUR 24,660 (previous year: TEUR 15,992). b) Financial Position The equity ratio decreased from 47.11% to 45.95%. This decrease, despite an absolute increase in equity, is attributable to a significant increase in total assets. In the first half of 2026, a dividend of EUR 40,000,000 was distributed to shareholders from the retained earnings as of December 31, 2025. The Group was financed primarily through positive cash flow from operating activities. Sufficient liquidity was fully guaranteed at all times. As of the reporting date, cash and cash equivalents amounted to TEUR 30,048 (previous year: TEUR 19,923) c) Net Asset Position Total assets as of June 30, 2026, amounted to TEUR 83,535, significantly higher than the previous year’s level (TEUR 57,663). Work in progress increased by TEUR 210 to TEUR 1,124 (previous year: TEUR 914). Grant applications completed as of the balance sheet date are valued at the personnel costs incurred by the employees assigned to them, for which no final decision had yet been received as of that date. The increase in work in progress results from the fact that the number of grant applications submitted has risen significantly compared to the previous year, and thus also the number of those for which a final decision had not yet been made as of the balance sheet date. Trade receivables increased by TEUR 13,090 due to the higher volume of grant applications and the payment terms agreed upon with customers. With regard to trade receivables outstanding as of the balance sheet date, innoscripta entered into factoring agreements and thereby sold receivables for the purpose of improving liquidity as of the balance sheet date. As a result of the factoring, liquidity as of June 30, 2026, increased by TEUR 17,145 (previous year: TEUR 10,385). Financing costs related to factoring amounted to TEUR 540 for the period from January 1 to June 30, 2026 (previous year: TEUR 465).
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19 Half-year report 2026 innoscripta SE I Interim Management Report III. Forecast, Opportunities, and Risk Report 1. Forecast Report The economic and geopolitical challenges of the first half of 2026—in particular, geopolitical tensions stemming from the Iran conflict, inflation and interest rate risks, and the ongoing Ukraine crisis—remain relevant for the second half of the year as well and significantly shape the economic outlook. In Germany, for example, the IMF lowered its GDP forecast to 0.8% for 2026, while the DIW expects a more moderate 1.0%. As a result, the overall economic outlook for 2026 remains marked by uncertainty. However, an important distinction emerges when looking at actual economic performance: Germany grew steadily in the first half of 2026, with +0.4% in Q1 and +0.2% in Q2, driven primarily by exports and expansionary fiscal policy. This suggests that economic slowdowns will be more moderate than was at times feared. This development is favorable for the Group: Its industry-specific business model—the development and sale of enterprise software to support R&D grant applications—is largely independent of general economic weakness. Rather, the Group benefits from stable or rising public investment in innovation and research funding. Expansionary fiscal policy and government investment programs contribute to economic stabilization and create favorable conditions for private R&D investment. Notwithstanding these macroeconomic uncertainties, innoscripta’s Executive Board expects business conditions for the Group to contin- ue improving in the second half of 2026. The expansion of the software business to include Clusterix with enhanced features, the positive development of funding framework con- ditions, and strong sales performance should collectively lead to increased sales opportunities. The innoscripta Executive Board therefore anticipates a significant increase in submitted funding applications, rising revenue, and a markedly improved EBIT for the second half of 2026.
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20 Half-year report 2026 innoscripta SE I Interim Management Report 2. Opportunity Report Identifying, creating, and capitalizing on opportunities is a key component of our growth strategy and our corporate success to date. In this regard, we see the following opportunities in particular within our specific context: a. Expanded Funding Frameworks and Increased Incentives for Corporate R&D Governments, particularly in Germany, are continuously expanding funding programs and tax incentives for research and development. On January 1, 2026, significant amendments to the Research Tax Credit Act (FZulG) took effect: The maximum tax credit base was in- creased to €12 million per year, and a flat-rate overhead allowance of 20% was introduced. These changes make research funding more attractive for companies of all sizes and directly create new incentives to plan and carry out innovation projects. This presents immediate opportunities and growth potential for the Group and Clusterix. b. Global Innovation Competition and Pressure to Innovate The German economy is facing increasing competitive pressure regarding R&D investments: Although Germany spent 3.17% of its gross domestic product on research and development in 2024— a new national record—it still lags behind countries such as Israel, South Korea, Sweden, the U.S., and Japan on the international stage. At the same time, the world’s leading technology companies are experiencing a significant surge in investment: U.S. companies increased their R&D spending by 11 percent in 2025, while European companies increased theirs by only 5 percent. This “pressure to innovate” is creating a stronger incentive for both small and medium-sized enterprises and large corporations alike to systematically plan innovations and secure funding. Our Clusterix supports companies in doing exactly that— which is why we expect this global trend to lead to rising demand for our software solution. c. International Expansion Potential for Clusterix An initial internal evaluation of the international landscape regarding government business incentives reveals fundamental growth po - tential: France offers one of Europe’s most generous R&D tax incentives—the Crédit d’Impôt Recherche (CIR)—at up to 30%; the United Kingdom has established R&D tax credit programs; and other European countries are also continuously expanding their funding instru- ments. This structural similarity to Germany creates opportunities to introduce Clusterix outside of Germany as well, thereby tapping into new markets.
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21 Half-year report 2026 innoscripta SE I Interim Management Report 3. Risk Report Management defines risk as a negative deviation from corporate goals and key performance indicators, particularly the danger of failing to meet profit targets or jeopardizing cash flows. In the context of the Group, we identify the following significant risks: a.) Funding Guidelines and Programs The allocation of funding is subject to recurring changes in guidelines. These can lead to temporary payment suspensions or even the exclusion of entire customer groups from funding programs, which directly impacts revenue and cash flow. To mitigate this risk, we con- tinuously monitor proposed legislation and maintain close stakeholder contacts with funding agencies. b.) Processing times by project administrators As demonstrated by past business practice, the processing speed of the responsible project agencies has a significant impact on reve- nue and cash flow timing. Longer processing times lead to delays in revenue recognition. c.) Rejection Rates and Competition Rising demand for funding can lead to higher rejection rates, which reduces the number of customers and thus revenue. At the same time, increased competition in the market could lead to declining commission structures. Our protection lies in Clusterix’s high quality and specialization. d.) Macroeconomic Factors We currently assess rising interest rates, inflationary pressures, and the Ukraine crisis as posing a low to moderate risk to our business segment. However, there is a risk of spillover effects on, for example, the German subsidy landscape and the solvency of business cus- tomers. e.) Shortage of Skilled Workers The ongoing shortage of qualified professionals—particularly engineers and IT specialists—poses a significant risk and may hinder stra- tegic goals and growth. We are addressing this through measures such as improved employer branding initiatives.
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22 Half-year report 2026 innoscripta SE I Interim Management Report f.) Liquidity and default risk Economic uncertainty, volatile markets, and changing payment behavior increase the risk of default and strain liquidity. We counter this through strict credit management and default reserve processes. g.) Cybersecurity and IT system failures The increasing digitization of our core platform, Clusterix, makes us vulnerable to cyberattacks, data breaches, and system failures. Dis- ruptions could lead to financial losses as well as reputational damage and a loss of trust among customers and partners. We continu- ously invest in IT security infrastructure, regular security audits, and incident response processes. Risk Reporting on the Use of Financial Instruments The financial instruments held by the Group primarily consist of receivables, liabilities, and balances with financial institutions. Default and credit risks associated with financial assets are mitigated through appropriate valuation allowances. To minimize default risks on receivables with the Group maintain an adequate accounts receivable management system. Derivative financial instruments are generally not held for trading or speculative purposes. Interest rate risk is defined as the risk of rising interest expense and falling interest income from financial positions. In general, interest rate risk is considered immaterial, as an increasing number of long-term loan agreements with fixed interest rates have been entered into. Tutzing, August 12, 2026 Michael Hohenester Alexander Meyer Sebastian Schwertlein
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23 Half-year report 2026 innoscripta SE I Consolidated Financial Statements Consolidated Financial Statements of innoscripta SE for the period from 01 January to 30 June 2026 Consolidated Balance Sheet as of 30 June 2026 24 Consolidated Statement of Profit and Loss for the period from 01 January to 30 June 2026 25 Statement of Changes in Equity for the period from 01 January to 30 June 2026 26 Consolidated Statement of Cash Flows for the period from 01 January to 30 June 2026 27 Notes to the Consolidated Financial Statements for the period from 01 January to 30 June 2026 28
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24 Half-year report 2026 innoscripta SE I Consolidated Financial Statements Consolidated Balance Sheet as of 30 June 2026 Assets 30.06.2026 EUR 30.06.2025 EUR A. FIXED ASSETS I. Intangible assets Concessions acquired against consideration, industrial property rights and similar rights and values as well as licenses to such rights and values 57,500.00 87,500.00 57,500.00 87,500.00 II. Property, plant and equipment Other equipment, operating and business equipment 1,122,585.14 306,599.02 1,122,585.14 306,599.02 III. Financial assets 1. Shares in affiliated companies 161,747.43 171,748.43 2. Other Investments 50.00 50.00 161,797.43 171,798.43 1,341,882.57 565,897.45 B. CURRENT ASSETS I. Inventories Work in Progress 1,123,743.22 913,577.98 1,123,743.22 913,577.98 II. Receivables and other assets 1. Trade receivables 47,383,064.41 34,292,650.73 2. Receivables from affilated companies 138,577.62 35,268.64 3. Other assets 2,944,272.29 1,810,572.95 50,465,914.32 36,138,492.32 III. Cash on hand, cash at banks 30,047,557.78 19,922,982.65 81,637,215.32 56,975,052.95 C. PREPAID EXPENSES 555,850.05 121,826.76 83,534,947.94 57,662,777.16 Equity and Liabilities 30.06.2026 EUR 30.06.2025 EUR A. EQUITY I. Subscribed capital 10,000,000.00 10,000,000.00 II. Equity reserve 1. Statutory reserve 1,000,000.00 1,000,000.00 2. Other equity reserve 25,000.00 25,000.00 1,025,000.00 1,025,000.00 III. Equity difference from currency translation 147,043.89 150,990.81 IV. Consolidated retained earnings 27,209,547.55 15,988,913.52 38,381,591.44 27,164,904.33 B. PROVISIONS 1. Tax provisions 24,707,841.55 17,812,464.06 2. Other provisions 3,883,076.09 3,336,011.44 28,590,917.64 21,148,475.50 C. LIABILITES 1. Liabilities to banks 11,656,614.06 5,601,497.07 thereof term more than one year EUR 8.266.680,00 (EUR 3.400.000,00) 2. Advances received on orders 36,500.00 0.00 3. Trade payables 1,736,719.00 1,109,205.08 4. Liabilities to affilated companies 0.00 52,250.00 5. Other liabilities 3,007,455.80 2,410,671.37 of which from taxes: EUR 1.524.027,66 (prior period: EUR 1.640.762,20) of which from social security: EUR 464.926,30 (prior period: EUR 351.321,26) 16,437,288.86 9,173,623.52 D. DEFERRED REVENUES 125,150.00 175,773.81 83,534,947.94 57,662,777.16
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25 Half-year report 2026 innoscripta SE I Consolidated Financial Statements Consolidated Statement of Profit and Loss for the period from 01 January to 30 June 2026 01.01.-30.06.2026 EUR 01.01.-30.06.2025 EUR 1. Revenue 63,098,394.03 44,102,048.09 2. Increase or decrease of work in progress -25,817.51 -61,310.01 3. Other operating income of which income from currency translation: EUR 9,458.17 (01.01. - 30.06.2025: EUR 3,984.90) 82,024.28 64,722.95 4. Cost of materials Expense for purchased services -2,600,141.72 -1,890,275.70 5. Personnel expense a) Wages and salaries b) Social security contributions and expenses for pension and other benefits of which for pensions: EUR -8,801.76 (01.01. - 30.06.2025: EUR -2,826.91) -14,031,860.77 -2,190,335.18 -10,996,388.99 -1,825,199.02 6. Depreciation and amortization on intangible fixed assets and property, plant and equipment -216,976.89 -117,320.27 7. Other operation expenses of which expenses from currency translation: EUR -32,090.32 (01.01. - 30.06.2025: EUR -56,560.57) -8,211,635.96 -5,473,146.14 8. Other interest and similar income 419,263.36 114,491.74 9. Depreciation on financial assets 0.00 -717.69 10. Interest and similar expenses -184,815.25 -31,849.38 11. Taxes on income -11,477,125.26 -7,892,077.60 12. Consolidated net income after taxes 24,660,973.13 15,992,977.99 13. Other taxes -1,009.96 -620.11 14. Consolidated net income for the period 24,659,963.17 15,992,357.87
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26 Half-year report 2026 innoscripta SE I Consolidated Financial Statements Statement of Changes in Equity for the period from 01 January to 30 June 2026 EUR Subscribed capital Reserves Equity difference from currency translation Consolidated net profit Group equity Statutory reserve Other reserves Total Parent company’s annual results Retained Earnings Total Balance of 01 January 2025 10,000,000.00 1,000,000.00 25,000.00 1,025,000.00 123,544.55 25,090,747.07 -1,094,191.42 23,996,555.65 35,145,100.20 Currency conversion 27,446.26 27,446.26 Other changes -25,090,747.07 25,090,747.07 0.00 0.00 Consolidated net income for the period 15,992,357.87 15,992,357.87 15,992,357.87 Dividends paid to shareholders -24,000,000.00 -24,000,000.00 -24,000,000.00 Balance of 30 June 2025 10,000,000.00 1,000,000.00 25,000.00 1,025,000.00 150,990.81 15,992,357.87 -3,444.35 15,988,913.52 27,164,904.34 Balance of 01 January 2026 10,000,000.00 1,000,000.00 25,000.00 1,025,000.00 150,593.00 42,609,047.00 -3,444.35 42,605,602.65 53,781,195.65 Currency conversion -3,549.11 -3,549.11 Other changes -42,609,047.00 42,609,047.00 0.00 Consolidated net income for the period 24,659,963.17 24,659,963.17 24,659,963.17 Change in the scope of consolidation -56,018.27 -56,018.27 -56,018.27 Dividends paid to shareholders -40,000,000.00 -40,000,000.00 -40,000,000.00 Balance of 30 June 2026 10,000,000.00 1,000,000.00 25,000.00 1,025,000.00 147,043.89 24,659,963.17 2,549,584.38 27,209,547.55 38,381,591.44
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27 Half-year report 2026 innoscripta SE I Consolidated Financial Statements Consolidated Statement of Cash Flows for the period from 01 January to 30 June 2026 01.01.-30.06.2026 EUR 01.01.-30.06.2025 EUR Consolidated net income for the period 24,659,963.17 15,992,357.87 + Depreciation and amortization of fixed assets 216,976.89 118,037.96 + Increase in provisions 962,453.56 1,258,514.80 + Other non-cash expenses / income 683,496.34 816,749.05 - Increase in inventories, trade accounts receivable and other assets not allocable to investment and financing activities 918,109.66 -3,579,940.46 +/- Increase / decrease in trade accounts payable and other liabilities not allocable to investment and financing activities -2,867,288.56 151,655.10 +/- Profit/loss from the disposal of fixed assets 1.00 0.00 +/- Interest expenses / interest income -234,448.11 -82,642.36 + Income tax expense 11,477,125.26 7,892,077.60 - Income tax payments -10,840,001.38 -1,578,501.55 = Cash flow from operating activities 24,976,387.83 20,988,308.01 - Payments made for investments in property, plants and equipment -1,006,908.56 -122,170.75 - Payments made for investments in financial assets 0.00 -11,747.43 + Interest received 417,385.36 112,043.06 = Cash flow from investment activities -589,523.20 -21,875.12 - Dividends paid to shareholders -40,000,000.00 -24,000,000.00 - Payments from the redemption of bonds and (financial) loans -960,417.00 -1,087,500.00 - Interest paid -184,815.25 -31,218.75 = Cash flow from financing activities -41,145,232.25 -25,118,718.75 Cash-effective changes in cash and cash equivalents -16,758,367.62 -4,152,285.85 - Changes In Cash and Cash equivalents resulting from Changes In the Scope of consolidation 7,461.96 0.00 + Cash and cash equivalents at the beginning of the period 46,481,432.39 23,861,271.43 = Cash and cash equivalents at the end of the period 29,730,526.73 19,708,985.58 Cash on hand, bank balances and checks 30,047,557.78 19,922,982.65 Current liabilities to banks -317,031.05 -213,997.07 Composition of cash and cash equivalents 29,730,526.73 19,708,985.58
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28 Half-year report 2026 innoscripta SE I Consolidated Notes I. GENERAL INFORMATION ON THE FINANCIAL STATEMENTS innoscripta SE is headquartered in Tutzing and is registered under number HRB 302244 in the commercial register at the Munich Local Court. These interim consolidated financial statements were prepared for the period from January 1 to June 30, 2026, in accordance with Sec - tions 290 et seq. of the German Commercial Code (HGB). They were prepared on a voluntary basis. The presentation of the consolidated balance sheet complies with Section 266(2) and (3) of the German Commercial Code (HGB). The presentation of the consolidated statement of income follows the total cost method in accordance with Section 275(2) of the German Commercial Code (HGB). In the first half of 2026 innoscripta SE established several subsidiaries in the legal form of a GmbH & Co. KG, to which a significant portion of the employees via partial business transfers was transferred. The partial business transfers took place on May 1, 2026, and June 1, 2026, respectively. This restructuring has not resulted in any changes to the duties employees’ or to innoscripta’s business model. The newly established subsidiaries provide services to innoscripta SE and these services are billed to innoscripta SE using the cost-plus method on the basis of intra-group service agreements The change in the Group structure has no impact on the consolidated balance sheet or consolidated statement of profit and loss as the newly established subsidiaries provide intra-Group services that are eliminated when preparing the consolidated financial statements. Notes to the Consolidated Financial Statements for the period from January 1 through June 30, 2026 of innoscripta SE, Tutzing
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29 Half-year report 2026 innoscripta SE I Consolidated Notes II. SCOPE OF CONSOLIDATION In the first half year of 2026 the number of subsidiaries increased significantly as a result of the new subsidiaries. The scope of consolida- tion includes innoscripta SE as well as the subsidiaries listed below: Company Name Company Headquarters Ownership Interest (%) innoscripta Austria GmbH (formerly Mittelstand Connect GmbH) Vienna, Austria 100% (direct) Mittelstand Connect Bilişim Teknolojileri A.Ş. Istanbul, Turkey 100% (direct) innoscripta North America Inc. New York, USA 100% (direct) innoscripta France SARL Balma, France 100% (direct) innoscripta CSM Verwaltungs GmbH Munich, Germany 100% (direct) innoscripta CSM GmbH & Co. KG Munich, Germany 100% (direct, as a limited partner) innoscripta HR Verwaltungs GmbH Munich, Germany 100% (direct) innoscripta HR GmbH & Co. KG Munich, Germany 100% (direct, as a limited partner) innoscripta Service & Support Verwaltungs GmbH Munich, Germany 100% (direct) innoscripta Case Management GmbH & Co. KG Munich, Germany 100% (direct, as a limited partner) innoscripta Corporate Munich GmbH & Co. KG Munich, Germany 100% (direct, as a limited partner) innoscripta Enterprise Cologne GmbH & Co. KG Cologne, Germany 100% (direct, as a limited partner) innoscripta Enterprise Munich GmbH & Co. KG Munich, Germany 100% (direct, as a limited partner) innoscripta Projekt Management GmbH & Co. KG Munich, Germany 100% (direct, as a limited partner) innoscripta Relations GmbH & Co. KG Munich, Germany 100% (direct, as a limited partner) innoscripta Scale Cologne GmbH & Co. KG Cologne, Germany 100% (direct, as a limited partner) innoscripta Scale Munich GmbH & Co. KG Munich, Germany 100% (direct, as a limited partner)
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30 Half-year report 2026 innoscripta SE I Consolidated Notes innoscripta Service & Support GmbH & Co. KG Munich, Germany 100% (direct, as a limited partner) innoscripta Frankfurt Verwaltungs GmbH Frankfurt am Main, Germany 100% (direct) innoscripta Frankfurt GmbH & Co. KG Frankfurt am Main, Germany 100% (direct, as a limited partner) innoscripta Hamburg Verwaltungs GmbH Hamburg, Germany 100% (direct) innoscripta Hamburg GmbH & Co. KG Hamburg, Germany 100% (direct, as a limited partner) In accordance with the option provided under Section 296(2) of the German Commercial Code (HGB), the following subsidiaries, each of which is wholly owned by innoscripta SE, were not included in the consolidated financial statements because they are of minor signifi - cance for the presentation of the Group’s financial position, results of operations, and cash flows: Company Name Company headquarters Ownership Interest (%) Equity in thousands Net Income in thousands Mittelstand Connect BV Dordrecht, Netherlands 100% (direct) EUR -2.25 (2024) EUR -9.12 (2024) Clusterix GmbH Munich, Germany 100% (direct) EUR 95.06 (2024) EUR -2.94 (2024) innoscripta UK Limited Bolton, United Kingdom 100% (direct) GBP -112.73 (2024) GBP -122.73 (2024) innoscripta Canada R&D Software Ltd. * Toronto, Canada 100% (direct) * * innoscripta Middle East FZCO * Dubai, United Arab Emirates 100% (direct) * * innoscripta Smart Munich GmbH & Co. KG * Munich, Germany 100% (direct, as a limited partner) * * *) Full annual financial statements are not yet available, as they were not founded/established until 2026.
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31 Half-year report 2026 innoscripta SE I Consolidated Notes The changes relative to the half-year consolidated financial statements as of June 30, 2026 compared to half-year consolidated finan- cial statements as of June 30, 2025, are of minor significance for the presentation of financial position, results of operations, and cash flows the Group’s and relate to the following subsidiaries: Company Name June 2026 June 2025 innoscripta North America Inc. First-time inclusion in the scope of consolidation Reported as equity in affiliated companies innoscripta France SARL First-time inclusion in the scope of consolidation Reported as equity in affiliated companies innoscripta Canada R&D Software Ltd. Reported as equity in affiliated companies Not yet a subsidiary or not yet established innoscripta Middle East FZCO Reported as equity in affiliated companies Not yet a subsidiary or not yet established innoscripta SE prepares the consolidated financial statements for both the smallest and biggest scope of companies. III. ACCOUNTING AND VALUATION METHODS The interim financial statements of the companies included in the interim consolidated financial statements of innoscripta SE were pre- pared in accordance with uniform accounting and valuation principles. The following accounting and valuation methods were primarily applied. 1. Property, Plant, and Equipment Property, plant, and equipment are stated at acquisition or production cost less scheduled depreciation. Depreciation is calculated on a straight-line basis in accordance with the following normal useful lives: Intangible Assets 2-5 years Other assets, plant, and office equipment 3–13 years
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32 Half-year report 2026 innoscripta SE I Consolidated Notes Low-value fixed assets with a net value of up to EUR 250.00 are recognized as an expense in the year of acquisition. Low-value fixed assets with individual acquisition costs of up to EUR 800.00 net are fully depreciated in the year of acquisition and recognized as a disposal in the fiscal year. 2. Financial Assets Financial assets are stated at cost or the lower fair value. 3. Inventories Work in progress is stated at production cost. Production cost includes direct costs. If the fair values were lower as of the balance sheet date, those amounts were used. 4. Receivables and Other Assets Receivables and other assets are generally recognized at their nominal values. Specific allowance for doubtful accounts is provided to account for the specific credit risks associated with trade receivables as of the balance sheet date. General credit risk is accounted for through a general allowance for doubtful accounts. 5. Cash and Cash Equivalents Cash and cash equivalents are stated at their par values. 6. Prepaid Expenses and Deferred Charges On the assets side, prepayments made prior to the balance sheet date are reported as prepaid expenses, to the extent that they repre- sent expenses for a specific period after that date. On the liability side, deferred income includes revenue received prior to the balance sheet date to the extent that it represents income for a specific period after that date.
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33 Half-year report 2026 innoscripta SE I Consolidated Notes 7. Tax provisions and other provisions Provisions account for all uncertain liabilities and potential losses arising from pending transactions and are recognized in each case in the amount necessary for settlement based on sound business judgment (i.e., including future cost and price increases). 8. Liabilities Liabilities are recognized at their settlement amount. IV. CONSOLIDATION PRINCIPLES 1. Equity Consolidation Capital consolidation is performed using the revaluation method in accordance with Section 301 of the German Commercial Code (HGB). In this process, the carrying amount of the shares held by the parent company is offset against the portion of the subsidiary’s equity attributable to those shares. Equity is recognized at an amount equal to the fair value, as of the acquisition date, of the assets, liabilities, deferred items, and special items to be included in the consolidated financial statements. Any difference remaining after the offset is recognized, if it arises on the assets side, as goodwill, and, if it arises on the liabilities side, under the item “Difference from equity consol- idation” following equity. 2. Elimination of Intercompany Profits Assets to be included in the consolidated financial statements that are based wholly or partly on goods or services provided between the companies included in the consolidated financial statements are recognized in the consolidated balance sheet at consolidated acquisition or production cost. 3. Consolidation of Liabilities Trade receivables and payables arising from transactions between the companies included in the consolidated financial statements are offset.
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34 Half-year report 2026 innoscripta SE I Consolidated Notes 4. Consolidation of Expenses and Revenues Expenses and revenues arising from transactions between the companies included in the consolidated financial statements are offset. 5. Deferred Taxes To determine deferred taxes arising from temporary or quasi-permanent differences between the carrying amounts of assets, liabilities, and deferred items and their tax bases, or arising from tax loss carryforwards, the amounts of the resulting tax charges and credits are measured using the entity-specific tax rate at the time the differences are resolved and are not discounted. Deferred tax assets and liabilities are reported net of each other. Any excess of deferred tax assets is not recognized. Deferred taxes are recognized for differences between carrying amounts on the financial statements and for tax purposes that arise from the consolidation of equity, liabilities, expenses, and income, as well as the elimination of intercompany results, provided that their effects are expected to reverse in subsequent years. Deferred taxes are calculated based on an income tax rate of 32.6%. 6. Principles of Currency Translation Conversion of Financial Statement Items Denominated in Foreign Currencies To the extent that the individual financial statements contain items based on amounts denominated in foreign currencies or originally denominated in foreign currencies, the conversion to euros was performed using the exchange rate in effect at the time of the transac - tion. Balance sheet items are converted as of the reporting date using the mid-market spot exchange rate. Unrealized exchange gains are not recognized if the remaining term exceeds one year. Conversion of Financial Statements in Foreign Currencies Individual financial statements in foreign currencies are generally translated using the “modified balance sheet date method,” whereby balance sheet items are translated at the mid-market spot exchange rate on the balance sheet date and income statement items are translated at the average exchange rate for the fiscal year. Any resulting difference is reported separately as such in equity.
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35 Half-year report 2026 innoscripta SE I Consolidated Notes V. NOTES TO THE CONSOLIDATED BALANCE SHEET 1. Fixed Assets The changes in the individual items of non-current assets, including depreciation and amortization for the period from January 1 to June 30, 2026, are presented in the statement of changes in group fixed assets, which is included as an appendix to these consolidated finan- cial statements. 2. Receivables and Other Assets Trade receivables with a remaining term of more than one year amount to TEUR 1.164 (previous year: TEUR 2,234). The remaining items under receivables and other assets are due within a remaining term of one year. With regard to trade receivables outstanding as of the balance sheet date, innoscripta SE entered into factoring agreements and there- by sold receivables for the purpose of improving liquidity. As a result of the factoring, liquidity increased by TEUR 17,145 as of the balance sheet date (previous year: TEUR 10,385). Financing costs related to factoring amounted to TEUR 540 (TEUR 465) in the fiscal year. 3. Equity The change in equity from July 1, 2025, to June 30, 2026, as well as its composition, is shown alongside the net income for the second half of 2025 (26,617 TEUR) and for the first half of 2026 (24,660 TEUR ), the change in the foreign currency translation adjustment (–3 TEUR), and the effects of changes in the scope of consolidation (–56 TEUR) due to the following transactions: Distribution of a dividend in the amount of EUR 40,000,000 to shareholders from retained earnings as of December 31, 2025 As of June 30, 2026, the share capital of innoscripta SE amounts to EUR 10,000,000. It consists of 10,000,000 no-par value shares.
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36 Half-year report 2026 innoscripta SE I Consolidated Notes Authorized Capital 2025/I The Executive Board is authorized by a resolution of the Annual General Meeting of April 1, 2025, with the approval of the Supervisory Board, to increase the share capital by March 31, 2030, through the issuance, on one or more occasions, of up to 5,000,000 new bearer common shares and/or non-voting preferred shares, each with a par value of EUR 1.00, in exchange for cash or non-cash contributions, to increase the share capital by a total of up to EUR 5,000,000 (Authorized Capital 2025/I). In the case of cash capital increases, shareholders are generally entitled to subscription rights. The shares may also be acquired by one or more financial institutions with the obligation to offer them to shareholders for subscription. However, the Executive Board is authorized, with the approval of the Supervisory Board, to exclude shareholders’ subscription rights in the case of capital increases against cash contributions in certain cases specified in Section 3(8) of the Company’s Articles of Association. Contingent Capital 2025/I The Company’s share capital is conditionally increased by up to EUR 5,000,000.00 through the issuance of up to 5,000,000 no-par bearer shares (common stock or non-voting preferred stock, depending on which class of stock is to be issued) (Conditional Capital 2025/I). The conditional capital increase is intended exclusively for the issuance of new shares to holders of conversion or option rights grant - ed by the Company or by companies in which the Company holds a direct or indirect majority interest, pursuant to the authorization granted by the Annual General Meeting on April 1, 2025, in accordance with the resolution on Agenda Item 11. The shares will be issued at the conversion or option price to be determined in each case in accordance with the resolution described above. The conditional capital increase will be carried out only to the extent that the holders of conversion or option rights exercise their conversion or option rights or fulfill conversion obligations arising from such bonds. The new shares shall participate in profits from the beginning of the fiscal year for which no resolution on the appropriation of profits has yet been adopted at the time of their issuance. The Supervisory Board is authorized to amend the wording of Section 3(8) of the Company’s Articles of Association in accordance with the respective issuance of subscription shares, as well as to make all other related amendments to the Company’s Articles of Association that concern only the wording. The same applies in the event that the authorization to issue conversion or option rights is not exercised after the expiration of the authorization period, as well as in the event that the conditional capital is not utilized after the expiration of the deadlines for exercising the conversion or option rights.
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37 Half-year report 2026 innoscripta SE I Consolidated Notes 4. Other Provisions Other provisions are broken down as follows: June 30, 2026 TEUR June 30, 2025 TEUR Post-sales support for customer orders 1,814 1,515 Personnel expenses 1,281 956 Process costs 485 229 Supervisory Board compensation 106 121 Financial statement and audit costs 66 54 Costs for retention obligations 15 15 Accounting costs 14 8 Decommissioning Obligation 0 52 Other 102 386 3,883 3,336 The provision for post-sales support for customer orders includes personnel expenses incurring after the grant has been approved for continued customer support.
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38 Half-year report 2026 innoscripta SE I Consolidated Notes 5. Liabilities Liabilities, broken down by remaining maturity, are composed as follows: Remaining Terms Up to 1 year 1–5 years 5 years or Total to Credit institutions 3,390 6,933 1,334 11,657 Previous year (2,202) (3,400) (0) (5,602) Advance payments received 37 0 0 37 Previous year (0) (0) (0) (0) from sales and services 1,736 0 0 1,737 Previous year (1,109) (0) (0) (1,109) to affiliated companies 0 0 0 0 Previous year (52) (0) (0) (52) Other 3,007 0 0 3,007 Previous year (2,411) (0) (0) (2,411) 8,170 6,933 1,334 16,437 Previous year (5,774) (3,400) (0) (9,174)
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39 Half-year report 2026 innoscripta SE I Consolidated Notes VI. NOTES TO THE CONSOLIDATED STATEMENT OF INCOME 1. REVENUE Revenue comprises commission income generated from the provision of services in the following areas: January 1, 2026 – June 30, 2026 January 1, 2025 – June 30, 2025 EUR million % EUR million % Tax Research funding 63.04 99.9 43.64 99.0 Project Business and Other 0.06 0.1 0.46 1.0 63.1 100 44.1 100.0 Revenue was generated almost exclusively in Germany. Revenue abroad remains well below 1 percent. VII. NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS Cash and cash equivalents consist of the balance sheet item “Cash on hand and balances with banks” as well as current liabilities to banks. 2026 TEUR 2025 TEUR Cash on hand and bank balances 30,048 19,923 less current liabilities to financial institutions -317 -214 cash and cash equivalents 29,730 19,709
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40 Half-year report 2026 innoscripta SE I Consolidated Notes VIII. NOTES TO THE CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Of the consolidated equity generated as of June 30, 2026, an amount of EUR 27,168,317.50 is attributable to the retained earnings of inno- scripta SE IX. OTHER DISCLOSURES 1. Other Financial Obligations There are off-balance-sheet financial obligations arising from rental and lease agreements as well as other obligations as follows: Remaining terms Up to 1 year 1 to 5 years 5 years or Total 4,541 17,764 4,431 26,736 This includes operating leases intended to finance hardware, as well as operating and office equipment. Obligations arising from these leases amount to TEUR 64 (June 30, 2025: TEUR 73). 2. Number of Employees In the first half of 2026, the Group employed an average of 396 employees (prior year: 337). Of these, 137 employees were in sales, 116 in project management, and 143 in other departments (e.g., IT) during the first half of 2026. 3. Corporate Bodies The company’s Executive Board is composed as follows: Mr. Michael Hohenester Mr. Alexander Meyer Mr. Sebastian Schwertlein
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41 Half-year report 2026 innoscripta SE I Consolidated Notes The members of the Executive Board perform their duties for innoscripta SE on a full-time basis. The disclosures required under Section 314 Paragraph 1 Number 6 of the German Commercial Code (HGB) regarding the total compen - sation of the members of the Executive Board are omitted pursuant to Section 286 Paragraph 4 of the German Commercial Code (HGB). There are receivables from clearing accounts against two Executive Board Members totaling 184 TEUR; these bear interest at a rate of one percent. The company’s Supervisory Board is composed as follows: Mr. Philipp von Ilberg, attorney-at-law, managing director of Mayer Sitzmöbel GmbH & Co. KG and gesund arbeiten GmbH, Chairman of the Supervisory Board Mr. Stefan Berndt-von Bülow, Vice President of Finance at Isar Aerospace SE Dr. Erik Massmann, former Chief Financial Officer of Birkenstock Group AG Total compensation for the Supervisory Board amounted to TEUR 118 during the reporting period. 4. Events After the Balance Sheet Date There are no events of particular significance that occurred and after June 30, 2026, that are not reflected in either in the income state - ment for the period from January 1 to June 30, 2026, or in the balance sheet as of June 30, 2026, to report . Tutzing, August 12, 2026 innoscripta SE - Executive Board - Michael Hohenester Alexander Meyer Sebastian Schwertlein
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42 Half-year report 2026 innoscripta SE I Consolidated Notes Statement of Changes in Group Fixed Assets for the period from 01 January to 30 June 2026 EUR Cost Accumulated amortization / depreciation Book values Balance 01.01.26 Change in scope of consoli- dation Additions Disposals Balance 30.06.26 Balance 01.01.26 Change in scope of consoli- dation Additions Disposals Balance 30.06.26 Stand 30.06.26 Balance 30.06.26 Balance 31.12.25 I. Intangible assets Concessions acquired against consideration, industrial property rights and similar rights and values as well as licenses to such rights and value 150,000.00 0.00 0.00 0.00 150,000.00 77,500.00 0.00 0.00 15,000.00 0.00 92,500.00 57,500.00 72,500.00 II. Property, plant and Equipment Other equipment, operating and business equipment 1,022,462.77 0.00 1,006,908.56 65,755.82 1,963,615.51 704,374.39 434.91 0.00 201,976.89 65,755.82 841,030.37 1,122,585.14 318,088.38 III. Financial assets 1. Shares in affiliates companies 171,748.43 -10,000.00 0.00 1.00 161,747.43 0.00 0.00 0.00 0.00 0.00 0.00 161,747.43 171,748.43 2. Other Investments 50.00 0.00 0.00 0.00 50.00 0.00 0.00 0.00 0.00 0.00 0.00 50.00 50.00 171,798.43 -10,000.00 0.00 1.00 161,797.43 0.00 0.00 0.00 0.00 0.00 0.00 161,797.43 171,798.43 1,344,261.20 -10,000.00 1,006,908.56 65,756.82 2,275,412.94 781,874.39 434.91 0.00 216,976.89 65,755.82 933,530.37 1,341,882.57 562,386.81
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43 To innoscripta SE, Tutzing We have conducted a review of the half-year consolidated financial statements of innoscripta SE and its subsidiaries (the Group), which com - prise the consolidated balance sheet as at 30 June 2026, the consolidated statement of profit and loss, the consolidated statement of changes in equity and the consolidated statement of cash flows for the period from 01 January to 30 June 2026, as well as the notes thereto including the presentation of the recognition and measurement policies and the interim group management report for the period from 01 January to 30 June 2026. The preparation of the half-year consolidated financial statements and the interim management group report in accordance with German commercial law is the responsibility of the Company‘s legal representatives. Our responsibility is to issue a report on the half-year consolidated financial statements based on our review. We conducted our review in accordance with the German Principles for Review of Financial Statements as promulgated by the Institute of Audi- tors [Institut der Wirtschaftsprüfer, (IDW)]. Those principles require that we plan and perform the review so that we can preclude through critical evaluation, with a certain level of assurance, that the half-year consolidated financial statements have not been prepared, in material respects, in accordance with German commercial law or that they, in compliance with generally accepted accounting principles, do not give a true and fair view of the net assets, financial position and results of operations of the Group or the interim group management report does not comply with German legal requirements, does not provide a true and fair view of the Company‘s position, or does not accurately present the significant opportunities and risks of future development. A review is limited primarily to inquiries of Group’s personnel and analytical procedures and therefore does not provide the assurance that can be obtained through an audit. We have not performed an audit and, accordingly, we do not express an audit opinion. Based on our review, nothing has come to our attention that causes us to believe that the half-year consolidated finan- cial statements have not been prepared in accordance with Review Report Half-year report 2026 innoscripta SE
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44 German commercial law, or in compliance with generally accepted accounting principles, do not give a true and fair view of the net assets, fi- nancial position and the results of operations, or the interim group management report does not comply with German legal requirements, does not provide a true and fair view of the Company‘s position, or does not accurately present the significant opportunities and risks of future devel- opment. Munich, 12 August 2026 Nexia GmbH Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft gez. Hansjörg Zelger gez. Daniel Schön Wirtschaftsprüfer Wirtschaftsprüfer Half-year report 2026 innoscripta SE I Review Report
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45 Half-year report 2026 innoscripta SE I Financial calendar 23 September 2026 Berenberg/Goldman Sachs German Corporate Conference, Munich November 2026 Q3 Trading Update March 2027 Consolidated Financial Statements Financial calendar Disclaimer This report as well as remarks, comments, and explanations in this context contain forward-looking statements regarding the business development of innoscripta SE and its consolidated subsidiaries (together, the “Group”). Forward-looking statements are partly, but not exclusively, identified by their u se of words such as „expect,“ „intend,“ „should,“ „believe,“ „plan,“ or „aim.“ These statements are ba sed on assumptio ns relating to the development of the economic, p olitical, and lega l environment in in dividual countries, economic reg ions, and markets, and in particular the Sa aS industry, as well as a ssumptions regardin g the timing of the submi ssion and approval of R&D tax allowance applicat ions filed by our c ustomers, which we have made on the basis of the information available to us at the time of publication and whi ch we consider realistic a t that time. By their nature, forward-looking statements are inherently subject to risks. The realization of these known and unknown risks may cause actual results, financial figures, and future devel-opments of the Group to differ from those expresse d or implied by these forward-looking statements. Any changes in significant parameters relating to our key sales markets or any significant changes in our business activities will have a corresponding impact on the development of our business. Except as otherwise required by applicable l aws and regulations, we und ertake no oblig ation to upd ate these forwar d-looking stat ements. Such statements are valid o n the date of publication. This information does not constitute an offer to exchange, sell, or p urchase, any securities. Please note that certain financial information included herein has neither been audited nor reviewed. Additionally, certain figures in this presentation have been rounded. The consolidated financial statements have been prepared in Euros, the functional currency of the Group, and the presentation currency of the Group. Transactions conducted in a cur-rency other than the functional cur rency are translated in to the functional cu rrency at the transact ion rate. Foreign cur rency effects from t he translation of transactions are reported in the other financial result. Unless otherwise indicated, the amounts in the consolidated financial statements are stated in thousands of euros (KEUR). Due to rounding, individual figures may not add up precisely to the totals given. Percentages in this report are calculated on the basis of the exact underlying value. It is therefore possible that these cannot be calculated from the values presented. This report is also published in German. In the event of any discrepancies, the German version of the report shall prevail over the English translation.
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46 www.innoscripta.com Publisher innoscripta SE Bahnhofstr. 17 82327 Tutzing Germany Board of Directors Michael Hohenester Alexander Meyer Sebastian Schwertlein Munich District Court Register Number: HRB 302244 VAT ID Number: DE284270281 IR-Contact Max Hunger Head of Investor Relations +49 (0)89 255 553 509 ir@innoscripta.com Text and Content Concept innoscripta SE edicto GmbH – Agentur für Finanzkommunikation und Investor Relations | www.edicto.de Layout and Implementation Abeler Bollmann Werbeagentur GmbH | www.abelerbollmann.de Photos innoscripta SE, iStockphoto.com Imprint Half-year report 2026 innoscripta SE I Imprint