Interim report
Page 1
Interim financial report Q2 2026 August 27, 2026 NNIT A/S | Weidekampsgade 14 |DK-2300 Copenhagen S | Denmark | www.nnit.com | Company reg. no.: 21093106
Page 2
Executive Summary Business & Regional Performance Review Financial Outlook Other Events & Contact Financial statements Accounting Notes COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 2 of 22 EXECUTIVE SUMMARY Q2 PERFORMANCE ON TRACK – STRATEGY UPDATE SETTING DIRECTION FOR TRANSFORMATION Q2 2026 key highlights • NNIT's financial performance was in line with initial expectations, despite continued customer caution, particularly within the life science segments. However, order entry improved during the quarter across all regions, supported by targeted growth initiatives aimed at strengthening sales execution. Reported group revenue declined 4.5% to DKK 441.6m, corresponding to constant currency revenue growth of -4.4%. The decline was primarily driven by the life science regions, while Public DK and SCALES delivered solid growth contributions. • Group EBIT excl. special items came in at DKK 21.4m in the second quarter, corresponding to a margin of 4.8% which remained broadly stable year-over-year, reflecting the impact of cost-reduction initiatives launched during last year, supplemented by further actions taken during this year to align capacity with demand and streamline general and administrative expenses. In addition, Region US returned to its strong profitability level, contributing to the sequential improvement in group margins. • The full-year financial outlook for 2026 is maintained. Constant currency revenue growth is expected to be single-digit negative with group EBIT margin excl. special items of 4 -7% and special items being “below last year’s level of DKK 83m”. During the second quarter, NNIT delivered improved operational performance, reflecting the impact of efficiency initiatives launched during the quarter and in the preceding quarter. Utilization improved significantly and NNIT saw increased traction with customers on new project engagements, although customer hesitancy remained pronounced among tier-1 Life Sciences customers in particular. NNIT’s new AI frameworks (Lumina and Alera) were applied across select customer engagements, delivering strong initial results . Early use cases demonstrate tangible efficiency gains, including material reductions in time-to-delivery and accelerated analysis of complex legacy systems, ultimately enabling faster and better- informed decision-making for customers. These initial results enable NNIT to become more competitive. Beyond AI being deployed to customer projects, NNIT’s AI offering is being included in upcoming bids either as a service or as part of the process depending on the project scope. Moreover, Alera has been moved from launch into broader internal adaptation across NNIT. Alera is being deployed to accelerate standardized tasks from CV search, HR -related enquires to support managers with follow-up on ongoing activities, amongst others. Despite the sequential performance improvements, a strategic review conducted during the quarter confirmed that further transformative actions are required to restore sustainable, profitable growth. Accordingly, NNIT is continuing its transformative approach by launching a program focused on optimizing, rebuilding and reshaping commercial, delivery and operational excellence. As part of this work, NNIT will reassess its operating model and service portfolio. The transformation program will form the foundation for a new strategic direction leveraging NNIT’s strong existing position. NNIT will aspire to become an innovative, AI-enabled niche specialist serving the global life sciences industry and regulated industries in Denmark. Claus Rydkjær , President and CEO of NNIT, comments “During the second quarter, business performance improved quarter-over-quarter, reflecting the impact of our targeted growth initiatives and cost reductions progressing as planned. Despite the decline in revenue, profitability was broadly in line with last year.
Page 3
Executive Summary Business & Regional Performance Review Financial Outlook Other Events & Contact Financial statements Accounting Notes COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 3 of 22 Towards the end of the quarter , we concluded a comprehensive review of NNIT’s performance, market position and future opportunities. The review confirms the strength of our customer relationships and domain expertise, while also identifying clear opportunities to improve our commercial execution, delivery model and operational efficiency. We are now moving into the next phase, launching a program aimed at transforming the company performance and restoring sustainable, profitable growth. In parallel, we are defining NNIT’s future strategic direction which will be shared at a later stage.” Financial overview – Selected key figures NNIT A/S, DKK million Q2 2026 Q2 2025 6M 2026 6M 2025 FY 2025 Revenue 441.6 462.2 864.1 926.3 1.787.6 Reported revenue growth, % -4.5% -2.5% -6.7% -1.2% -3.4% Constant currency revenue growth, % -4.4% -1.7% -5.8% -1.3% -2.8% Group EBIT excl. special items 21.3 22.9 22.5 40.9 94.2 Group EBIT margin excl. special items, % 4.8% 5.0% 2.6% 4.4% 5.3% Special items 18.5 20.3 26.8 45.7 83.3 Group EBIT incl. special items 2.8 2.6 -4.3 -4.8 11.2 Group EBIT margin incl. special items, % 0.6% 0.6% -0.5% -0.5% 0.6% Free cash flow 8 -61 49 -134 -47
Page 4
Executive Summary Business & Regional Performance Review Financial Outlook Other Events & Contact Financial Statements Accounting Notes COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 4 of 22 BUSINESS REVIEW BUSINESS PERFORMANCE TRACKING ACCORDING TO PLAN Second quarter reported revenue amounted to DKK 441.6m compared with DKK 462.2m same quarter last year, corresponding to a decline of 4.4% in constant currency revenue growth. However, the sequential trend improved, driven by a pick-up in order entry, particularly towards the end of the quarter, where all regions saw increased order intake with multiple new project wins and extensions of existing engagements. Public DK and SCALES delivered strong growth, while the Life Sciences segments (Europe, US and Asia) remained impacted by the lower order entry carried over from Q1 and continued customer hesitation . Group EBIT excl. special items was relatively stable at DKK 21.4m , compared with DKK 22.9m in the same quarter last year, equal to margins of 4.8% and 5.0%, respectively. The earnings impact of the DKK 21m revenue shortfall was largely offset through efficiency gains, execution of cost -reduction initiatives, and capacity adjustments, entailing improved operational leverage. Special items were mainly related to restructuring costs which ended at DKK 18.5m compared with DKK 20.3m same quarter last year. Group EBIT incl. special items was DKK 2. 8m compared with DKK 2.6m same quarter last year, corresponding to a n unchanged margin of 0.6%. In Q2 2026, free cash flow amounted to DKK 8m compared with DKK -61m in the same period last year. The improvement was mainly driven by stronger operating cash flow, supported by improved trade receivable collections, improved customer payment timing and net tax receipts, partly offset by lower trade payables and increased prepayments related to a larger new transition project. During the second quarter, NNIT conducted a comprehensive strategic review with external support to assess the company’s market position, performance and future opportunities. The review confirms NNIT’s strong position within the pharmaceutical industry, underpinned by deep domain expertise, high customer satisfaction and long -standing customer relationships. At the same time, it has identified opportunities to optimize and reshape NNIT’s commercial execution, delivery model and operational efficiency to improve performance and return the company to sustainable, profitable growth. Based on these findings, NNIT is initiating a company -wide transformation program focused on commercial, delivery and operational excellence. The program will address near - and medium-term performance improvements while also forming the development of NNIT’s future strategic direction. The strategic review and transformation priorities will form the basis for future strategic direction with further details to be presented at a later stage. GROUP FINANCIAL HIGHLIGHTS – SELECTED KEY FIGURES NNIT A/S, DKK million Q2 2026 Q2 2025 6M 2026 6M 2025 FY 2025 KEY FINANCIAL HIGHLIGHTS Reported revenue growth, % -4.5% -2.5% -6.7% -1.2% -3.4% Constant currency revenue growth, % -4.4% -1.7% -5.8% -1.3% -2.8% Group EBIT margin excl. special items, % 4.8% 5.0% 2.6% 4.4% 5.3% Special items 18.5 20.3 26.8 45.7 83.3 Group EBIT incl. special items 2.8 2.6 -4.3 -4.8 11.2 Group EBIT margin incl. special items, % 0.6% 0.6% -0.5% -0.5% 0.6% Depreciation, amortization and impairment 14.2 21.5 27.9 21.5 45.2 Free cash flow 8 -61 49 -134 -47 OTHER FINANCIAL HIGHLIGHTS Revenue 441.6 462.2 864.1 926.3 1.787.6 - of which Region Europe 141.8 160.5 284.6 329.0 628.7
Page 5
Executive Summary Business & Regional Performance Review Financial Outlook Other Events & Contact Financial Statements Accounting Notes COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 5 of 22 - of which Region US 77.4 89.2 144.0 176.2 312.7 - of which Region Asia 34.8 37.9 67.1 74.9 152.8 - of which Public DK incl. passthrough 92.7 89.0 180.8 176.9 352.3 - of which SCALES 94.9 85.6 187.6 169.3 341.1 Production cost 339.6 353.5 677.1 697.8 1.340.6 Gross profit 102.0 108.7 187.0 228.5 447.0 Gross margin, % 23.1% 23.5% 21.6% 24.7% 25.0% Regional overhead cost 34.1 33.6 72.3 78.9 154.9 Regional EBIT 67.9 75.1 114.7 149.6 292.1 Regional EBIT margin, % 15.4% 16.2% 13.3% 16.2% 16.3% Corporate cost 46.6 52.2 92.2 108.7 197.9 Group EBIT excl. special items 21.3 22.9 22.5 40.9 94.2 Group EBIT margin excl. special items, % 4.8% 5.0% 2.6% 4.4% 5.3% Special items 18.5 20.3 26.8 45.7 83.3 Group EBIT incl. special items 2.8 2.7 -4.3 -4.8 11.2 Group EBIT margin incl. special items, % 0.6% 0.6% -0.5% -0.5% 0.6% REGIONAL PERFORMANCE REVIEW Region Europe Region Europe generated revenue of DKK 141.8m, corresponding to revenue growth of -11.7% and constant currency revenue growth of -11.9%. The revenue decline was primarily due to the lower order entry generation in the first quarter and less revenue coming from existing tier-1 customers. In the lower tier segments, Region Europe continued to expand its presence by engaging with new customers on various projects. The demand continues to be solid , and more customers being approached for engagements with less er contract sizes compared to contracts in the tier-1 segment. During the quarter, Region Europe ramped up on one of its AI projects with a mid-tier global pharma company, supporting project delivery and how the customers can work with AI going forward. Moreover, the demand for AI-solutions have increased to bridge the growing gap between AI potential and regulated deployment. NNIT’s AI solutions are being implemented into more bids than previously, enabling customers to adapt AI into their projects and work processes. Regional EBIT decreased from DKK 26.0m to DKK 15.7m, equal to a change in regional EBIT margin from 16.2% to 11.1% in Q2 2026. The decline in profitability is a direct result of lower revenue generation which was partly offset by realization of previously initiated cost-reducing initiatives and capacity adjustments. Region Europe, DKK million Q2 2026 Q2 2025 6M 2026 6M 2025 FY 2025 Revenue 141.8 160.5 284.6 329.0 628.7 Reported revenue growth, YoY, % -11.7% -13.4% -13.5% -8.9% -10.1% Constant currency revenue growth, % -11.9% -13.3% -13.8% -8.9% -10.2% Production cost 115.5 126.4 231.6 254.6 486.2 Gross profit 26.3 34.1 53.0 74.4 142.5 Gross margin, % 18.5% 21.2% 18.6% 22.6% 22.7% Regional overhead cost 10.6 8.1 20.3 25.1 45.6 Regional EBIT 15.7 26.0 32.7 49.3 96.9 Regional EBIT margin, % 11.1% 16.2% 11.5% 15.0% 15.4% Corporate cost 21.3 18.9 42.4 40.0 71.6 Group EBIT excl. special items -5.6 7.1 -9.7 9.3 25.3 Group EBIT margin excl. special items, % -3.9% 4.4% -3.4% 2.8% 4.0%
Page 6
Executive Summary Business & Regional Performance Review Financial Outlook Other Events & Contact Financial Statements Accounting Notes COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 6 of 22 Region US In the second quarter, Region US has been recovering at a steady pace after two consecutive quarters of significant revenue contraction. Despite negative constant currency revenue growth of 11.2%, order entry has started to pick up entailing an improved backlog and pipeline for the rest of the year. Two larger contracts were signed with global tier-1 pharmaceutical companies in the data migration business . Moreover, Region US has continued to deliver on specific AI -client engagements during the quarter , and internally working on cases where NNIT’s AI offerings could be applied in terms of repeatability, scalability, governance and ultimately, commercialization. In Q1 2026, Region US completed its first National Drug Code -12 (NDC 12) pilot program. During the second quarter, US launched further NDC -12 pilot programs with new customers showing solid traction . Revenue for the quarter amounted to DKK 77.4m, equal to a reported revenue growth of -13.2%. The region’s profitability has recovered to previous levels due to the initiated cost reductions and improved utilization during the first quarter. The region has recalibrated its capacity and focused on lowering non - employee-driven costs in both product and regional overhead. The regional EBIT increased by DKK 3.4m compared with the same quarter last year to DKK 22.8m, equal to a regional EBIT margin of 29.5% despite materially lower revenue generation. Region US, DKK million Q2 2026 Q2 2025 6M 2026 6M 2025 FY 2025 Revenue 77.4 89.2 144.0 176.2 312.7 Reported revenue growth, YoY, % -13.2% 1.3% -18.3% -2.6% -9.6% Constant currency revenue growth, % -11.2% 4.1% -13.5% -2.9% -7.5% Production cost 47.1 59.6 100.9 109.7 199.9 Gross profit 30.3 29.6 43.1 66.5 112.8 Gross margin, % 39.1% 33.2% 29.9% 37.7% 36.1% Regional overhead cost 7.5 10.2 18.4 20.7 42.1 Regional EBIT 22.8 19.4 24.7 45.8 70.7 Regional EBIT margin, % 29.5% 21.7% 17.2% 26.0% 22.7% Corporate cost 10.2 9.7 20.4 20.1 36.1 Group EBIT excl. special items 12.6 9.7 4.3 25.7 34.6 Group EBIT margin excl. special items, % 16.3% 10.9% 3.0% 14.6% 11.2% Region Asia In Q2 2026, Region Asia’s revenue amounted to DKK 34.8m, which is a decline of 8.2% in reported revenue growth and -10.6% in constant currency revenue growth. The revenue decline was anticipated as the region has been significantly affected by lower revenue generation from an existing large tier-1 customer. As in previous quarters, Region Asia has been able to grow its local market customers as part of the renewed sales focus. Especially, the region sees solid traction with local biotech companies where AI projects are in high demand. After the quarter ended, it was announced on 31 July that NNIT has divested its Singapore business with effect from 1 August. The rationale for the divestment is to increase the focus to the other life scie nce areas where there are solid opportunities to expand customer engagements across practices. In Q2 2026, revenue from Singapore amounted to DKK 9.0m, corresponding to 26% of Region Asia’s total revenue. For the first six months, Singapore revenue accounted for 28% of Region Asia’s revenue.
Page 7
Executive Summary Business & Regional Performance Review Financial Outlook Other Events & Contact Financial Statements Accounting Notes COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 7 of 22 The region’s regional EBIT contracted to DKK 1.8m in Q2 2026 compared with DKK 2.7m in the same quarter last year, corresponding to a regional EBIT margin of 5.2% and 7.1%, respectively. The profitability decline can be fully attributed to the revenue contraction, which was partially offset by realization of cost reductions. Region Asia, DKK million Q2 2026 Q2 2025 6M 2026 6M 2025 FY 2025 Revenue 34.8 37.9 67.1 74.9 152.8 Reported revenue growth, YoY, % -8.2% 1.6% -10.4% 8.2% 2.3% Constant currency revenue growth, % -10.6% 4.4% -9.2% 8.2% 5.7% Production cost 29.3 31.2 56.9 61.4 122.0 Gross profit 5.5 6.7 10.2 13.5 30.8 Gross margin, % 15.8% 17.7% 15.2% 18.0% 20.2% Regional overhead cost 3.7 4.0 7.4 7.9 15.0 Regional EBIT 1.8 2.7 2.8 5.6 15.8 Regional EBIT margin, % 5.2% 7.1% 4.2% 7.5% 10.5% Corporate cost 5.3 4.4 10.5 9.1 16.8 Group EBIT excl. special items -3.5 -1.7 -7.7 -3.5 -1.0 Group EBIT margin excl. special items, % -10.1% -4.5% -11.5% -4.7% -0.7% Public Denmark In the second quarter, Public DK generated revenue of DKK 92.7m including passthrough and DKK 72.3m excluding passthrough, equal to a reported and constant currency revenue growth of 10.0%. The uplift in revenue is primarily driven by new projects ramping up with ATP, the Danish Health Data Authority (Sundhedsdatastyrelsen) and the Danish Agency for IT and Learning (Styrelsen for IT & Læring). Furthermore, Public DK has started to see more tender activity after the government in Denmark was formed in early June following the general election in March this year. Following the launch of Lumina late in the previous quarter, the AI framework has moved into commercial application. In Q2, Lumina has been deployed to some customers in the public sector , with initial use cases delivering promising results. The framework drives measurable efficiency gains by accelerating the analysis of complex legacy documentation and code . This enables faster and more informed decision -making for customers. Moreover, Lumina positions NNIT to capture new opportunities by enabling bids on legacy system transformation, converting standard platforms into tailored solutions for customers in regulated industries. Regional EBIT increased from DKK 4.2m in Q2 last year to DKK 7.5m in Q2 2026 , corresponding to a margin of 6.4% and 10.4%, respectively. The improvement in profitability is driven by leverage from the revenue uplift and due to the actions taken during Q1 where focus has been on improving operational efficiency and lowering the cost base. Public DK, DKK million Q2 2026 Q2 2025 6M 2026 6M 2025 FY 2025 Revenue 92.7 89.0 180.8 176.9 352.3 - hereof passthrough revenue 20.4 23.3 36.9 43.0 92.6 Revenue excl. passthrough 72.3 65.7 143.9 133.9 259.7 All metrics below exclude passthrough revenue Reported revenue growth, YoY, % 10.0% -8.1% 7.5% -6.6% -9.1% Constant currency revenue growth, % 10.0% -8.1% 7.5% -6.6% -9.1% Production cost 56.4 53.9 112.6 113.1 211.5 Gross profit 15.9 11.8 31.3 20.8 48.2 Gross margin, % 22.0% 18.0% 21.8% 15.5% 18.6%
Page 8
Executive Summary Business & Regional Performance Review Financial Outlook Other Events & Contact Financial Statements Accounting Notes COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 8 of 22 Regional overhead cost 8.4 7.6 18.5 14.5 32.3 Regional EBIT 7.5 4.2 12.8 6.3 15.9 Regional EBIT margin, % 10.4% 6.4% 8.9% 4.7% 6.1% Corporate cost 9.8 19.2 18.9 39.5 73.4 Group EBIT excl. special items -2.3 -15.0 -6.1 -33.2 -57.5 Group EBIT margin excl. special items, % -3.2% -22.8% -4.2% -24.8% -22.1% SCALES During the second quarter, SCALES’ revenue amounted to DKK 94.9m, equal to reported- and constant currency revenue growth of 10.9%. The continued positive revenue development is mainly attributed to expansion of the customer base through Microsoft D365 services and partly through expansion of existing engagements. Moreover, the integration of the Microsoft service offerings business from the previously named Region Denmark has fully transitioned, and the synergy gains are already noticeable. In Q2 2026, regional EBIT amounte d to DKK 20.1m, equal to a regional EBIT margin of 21.2% . The lower profitability in Q2 2026 compared with the same quarter last year is due to increased usage of sub-contractors due to internal capacity constraints and some projects with lower profitability compared with previously completed projects. SCALES, DKK million Q2 2026 Q2 2025 6M 2026 6M 2025 FY 2025 Revenue 94.9 85.6 187.6 169.3 341.1 Reported revenue growth, YoY, % 10.9% 24.0% 10.8% 26.4% 27.5% Constant currency revenue growth, % 10.9% 24.0% 10.8% 26.4% 27.5% Production cost 70.9 59.1 138.1 116.0 228.4 Gross profit 24.0 26.5 49.5 53.3 112.7 Gross margin, % 25.3% 31.0% 26.4% 31.5% 33.0% Regional overhead cost 3.9 3.7 7.6 10.7 19.9 Regional EBIT 20.1 22.8 41.9 42.6 92.8 Regional EBIT margin, % 21.2% 26.6% 22.3% 25.2% 27.2% Corporate cost 0.0 0.0 0.0 0.0 0.0 Group EBIT excl. special items 20.1 22.8 41.9 42.6 92.8 Group EBIT margin excl. special items, % 21.2% 26.6% 22.3% 25.2% 27.2%
Page 9
Executive Summary Business & Regional Performance Review Financial Outlook Other Events & Contact Financial Statements Accounting Notes COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 9 of 22 FINANCIAL OUTLOOK Full-year financial outlook is maintained NNIT maintains its full-year financial outlook for 2026 announced on 7 May 2026, cf. Company Announcement 06/2026. NNIT continues to expect constant currency revenue growth to be single -digit negative, and the Group EBIT margin excl. special items to be 4-7%. Special items are expected to be “below last-year’s level of DKK 83m”. Announced on 7 May 2026 Announced on 5 Feb 2026 NNIT A/S 2026 Outlook (current) 2026 outlook (previous) Constant currency revenue growth, % Single-digit negative 0-5% Group EBIT margin excl. special items, % 4-7% 6-9% Special items, DKKm Below last year’s level of DKK 83m Significantly below last year’s level of DKK 83m Forward-looking statements This announcement contains forward -looking statements. Words such as ‘believe’, ‘expect’, ‘may’, ‘will’, ‘plan’, ‘strategy’, ‘prospect’, ‘foresee’, ‘estimate’, ‘project’, ‘anticipate’, ‘can’, ‘intend’, ‘outlook’, ‘guidance’, ‘target’ and other words and te rms of similar meaning in connection with any discussion of future operating or financial performance identify forward -looking statements. Statements regarding the future are subject to risks and uncertainties that may result in considerable deviations from the outlook set forth. Furthermore, some of these expectations are based on assumptions regarding future events which may prove incorrect. Please also refer to the overview of risk factors in the ‘risk management’ section on page 24 -25 of the Annual Report 2025.
Page 10
Executive Summary Business & Regional Performance Review Financial Outlook Other Events & Contact Financial Statements Accounting Notes COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 10 of 22 OTHER EVENTS OTHER IMPORTANT EVENTS AFTER THE REPORTING PERIOD NNIT solidifies its Asia strategy with increased focus on China As part of this strategic focus in Asia, NNIT has decided to divest its office in Singapore . NNIT in Singapore has delivered high customer satisfaction and been growing customer engagements in recent years, particularly within Manufacturing -related services. However, NNIT has concluded that the opportunities to expand customer engagements across practice areas such as Clinical, Regulatory Affairs, and Quality Management are more favorable in mainland China. Accordingly, NNIT has reached an agreement with local management in Singapore for local management to take over all business activities in Singapore. Going forward, NNIT will continue to operate its “Region Asia” business from its locations in mainland China. CONTACT CONFERENCE CALL August 28, 2026, at 9:30 AM CEST: Webcast link Dial in information: DK: +45 7876 8490 SE: +46 31-311 50 03 UK: +44 203 769 6819 US: +1 646-787-0157 Participant Access code: 472855 For more information, please contact: Investor Relations Media Relations Carsten Ringius EVP & CFO Tel: +45 3077 8888 carr@nnit.com Thomas Stensbøl Press & Communications Manager Tel: +45 3077 8800 tmts@nnit.com ABOUT NNIT NNIT is a leading provider of IT solutions to life sciences internationally, and to the public and private sectors in Denmark. We focus on high complexity industries and thrive in environments where regulatory demands and complexity are high. We advise on and build sustainable digital solutions that work for the patients, citizens, employees, end users or customers.
Page 11
Executive Summary Business & Regional Performance Review Financial Outlook Other Events & Contact Financial Statements Accounting Notes COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 11 of 22 We strive to build unmatched excellence in the industries we serve, and we use our domain expertise to represent a business first approach – strongly supported by a selection of partner technologies, but always driven by business needs rather than technology. NNIT consists of group company NNIT A/S and subsidiaries, including SCALES. Together, these companies employ around 1,500 people in Europe, Asia and USA.
Page 12
Executive Summary Business & Regional Performance Review Financial Outlook Other Events & Contact Financial Statements Accounting Notes COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 12 of 22 FINANCIAL STATEMENTS GROUP FINANCIAL OVERVIEW DKK million 6M 2026 6M 2025 FY 2025 Financial performance Revenue Region Europe 285 329 629 Region US 144 176 313 Region Asia 67 75 153 Public DK 181 177 352 Scales 187 169 341 Total revenue 864 926 1,788 EBITDA before special items 51 62 140 Depreciations, amortizations and impairment 28 22 46 Group operating profit before special items1 23 41 94 Special items, costs1 27 46 83 Operating profit/loss (EBIT) -4 -5 11 Net financials -14 -8 -22 Total net profit/loss for the period -20 -11 -24 Investments in tangible assets -6 -20 -26 Investments in intangible assets incl. acquisition of subsidiaries -13 -16 -30 Total assets 1,501 1,649 1,517 Equity 782 801 786 Dividends paid 0 0 0 Interest-bearing debt. net2 -268 -389 -311 Total free cash flow for the period 49 -134 -47 Earnings per share Earnings per share (DKK) -0.81 -0.44 -0.97 Diluted earnings per share (DKK) -0.81 -0.44 -0.97 Employees Average number of full-time employees 1,533 1,710 1,652 Financial ratios Revenue growth -6.7% -1.2% -3.4% Gross margin 21.6% 24.7% 25.0% EBITDA before special items margin 5.8% 6.7% 7.8% Group operating profit margin before special items 2.6% 4.4% 5.3% Group operating profit margin -0.5% -0.5% 0.6% Effective tax rate -11.2% 15.7% -118.2% Return on equity3 -4.2% -5.5% -2.9% Solvency ratio 52.1% 48.6% 51.8% Return on invested capital (ROIC)3,4 -3.2% -3.7% -0.2% 1) Special items comprise costs that cannot be attributed directly to NNIT's ordinary activities and are non-recurring of nature 2) Net interest-bearing debt defined as Cash and cash equivalents, Derivative financial instruments, Bank overdraft, leasing Liabilities 3) Financial metrics are moving annual total cost (MAT) relative to the balance sheet at end of reporting period 4) Net profit (MAT) / invested capital at end of reporting period
Page 13
Executive Summary Business & Regional Performance Review Financial Outlook Other Events & Contact Financial Statements Accounting Notes COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 13 of 22 BALANCE SHEET Total assets amounted to DKK 1,501m at June 30, 2026, compared with DKK 1,517m at December 31, 2025. Intangible assets increased by DKK 10m to DKK 754m at June 30, 2026, from DKK 744m at December 31, 2025. The increase was primarily driven by foreign exchange effects on goodwill denominated in US dollars. Transition costs increased to DKK 61m at June 30, 2026, compared with DKK 35m at December 31, 2025. The increase was mainly related to a larger new customer project during the period. Correspondingly, prepayments received related to transition costs increa sed to DKK 26m at June 30, 2026, from DKK 19m at December 31, 2025, reflecting customer funding/advance payments connected to transition activities. Trade receivables decreased to DKK 363m at June 30, 2026, compared with DKK 394m at December 31, 2025. The decrease was primarily driven by improved collection of outstanding balances and timing of invoicing and customer payments during the period. Trade payables decreased to DKK 77m at June 30, 2026, compared with DKK 108m at December 31, 2025, mainly reflecting timing of supplier payments and lower outstanding supplier balances at the end of the period. The draw on credit facilities decreased to DKK 218m at June 30, 2026, compared with DKK 268m at December 31, 2025, supported by positive free cash flow in the first six months of 2026. FREE CASH FLOW The Group’s free cash flow was DKK 49m in H1 2026, compared with DKK -134m in H1 2025, and DKK -47m at December 31, 2025. The improvement compared with the first six months of 2025 was primarily driven by improved operating cash flow, supported by positive working capital developments and net tax receipts during the period. Working capital was positively impacted by lower tra de receivables, reflecting improved collection of outstanding customer balances and improved timing of customer payments. This improvement is considered sustainable, supported by continued focus on collection processes and working capital management. The positive working capital effect was partly offset by lower trade payables, reflecting timing of supplier payments and lower outstanding supplier balances at the end of the period. In addition, prepayments increased during the period, mainly related to a larger new transition project. Investments, primarily in software development, remained broadly in line with the same period last year. Cash flow from investing activities amounted to DKK -14m in the first six months of 2026, compared with DKK -15m in the first six months of 2025.
Page 14
Executive Summary Business & Regional Performance Review Financial Outlook Other Events & Contact Financial Statements Accounting Notes COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 14 of 22 MANAGEMENT STATEMENT Statement by the Board of Directors and the Executive Management on the unaudited interim consolidated financial statements of NNIT A/S for the first six months ended June 30, 2026. The Board of Directors and Executive Management (“Management”) have reviewed and approved the interim consolidated financial statements of NNIT A/S (NNIT A/S, together with its subsidiaries, the “Group”) for the first six months of 2026 with comparative figures for the first six months of 2025. The interim consolidated financial statements have not been audited or reviewed by the company’s independent auditors. The interim consolidated financial statements for the first six months of 2026 have been prepared in accordance with IAS 34 ‘Interim Financial Reporting’, as adopted by the European Union and accounting policies set out in the Annual Report 2025 of NNIT A/S. Furthermore, the interim consolidated financial statement for the first six months of 202 6 and Management’s review are prepared in accordance with additional Danish disclosure requirements for interim reports of listed companies. In our opinion, the accounting policies used are appropriate and the overall presentation of the interim consolidated financial statements for the first six months of 2026 are adequate and give a true and fair view of the Group’s assets, liabilities and financial position as of June 30, 2026 and of the results of the Group’s operations and cash flow for the six months ended June 30, 2026. Furthermore, in our opinion, Management’s review includes a true and fair account of the development in the operations and financial circumstances, of the results for the period, and of the financial position of the Group as well as a description of the most significant risks and elements of uncertainty facing the Group in accordance with Danish disclosure requirements for listed companies. Besides what has been disclosed in the interim consolidated financial statements and Management’s review for the first six months of 2026, no changes in the Group’s most significant risks and uncertainties have occurred relative to disclosures published in the Annual Report 2025 of NNIT A/S. Copenhagen, August 27, 2026 Executive Management Claus Rydkjær Carsten Ringius President and CEO Executive Vice President and CFO Board of Directors Carsten Dilling Eva Berneke Peter Bøggild Chairman Deputy Chairman Board member Jan Winther Caroline Serfass Nigel Govett Board member Board member Board member Daniel Fittussy Dorte Broch Pedersen Kim Høyer Employee-elected board member Employee-elected board member Employee-elected board member
Page 15
Executive Summary Business & Regional Performance Review Financial Outlook Other Events & Contact Financial Statements Accounting Notes COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 15 of 22 CONSOLIDATED FINANCIAL STATEMENT INCOME STATEMENT AND STATEMENTS OF COMPREHENSIVE INCOME DKK million Note Jun 30, 2026 Jun 30, 2025 Dec 31, 2025 INCOME STATEMENT 1 Revenue 2 864 926 1.788 Production cost 677 698 1.341 Gross profit 187 228 447 Sales and marketing costs 32 34 68 Administrative expenses 132 153 285 Operating profit before special items 23 41 94 Special items, costs 3 27 46 83 Operation profit / loss -4 -5 11 Financial income 1 4 4 Financial expenses 15 12 26 Profit/(loss) before income taxes -18 -13 -11 Income Taxes 2 -2 13 Net profit/(loss) for the period -20 -11 -24 Earnings per share Earnings per share -0.81 -0.44 -0.97 Diluted earnings per share -0.81 -0.44 -0.97 DKK million Note Jun 30, 2026 Jun 30, 2025 Dec 31, 2025 STATEMENT OF COMPREHENSIVE INCOME Net profit/(loss) for the period -20 -11 -24 Other comprehensive income: Remeasurement related to defined benefit pension obligations 1 1 -1 Tax on other comprehensive income defined benefit pension obligations 0 0 0 Exchange rate adjustments related to subsidiaries (net) 18 -65 -65 Tax related to exchange rate adjustments related to subsidiaries (net) 0 9 9 Other comprehensive income, net of tax 19 -55 -57 Total comprehensive income -1 -66 -81
Page 16
Executive Summary Business & Regional Performance Review Financial Outlook Other Events & Contact Financial Statements Accounting Notes COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 16 of 22 BALANCE SHEET DKK million Note Jun 30, 2026 Jun 30, 2025 Dec 31, 2025 ASSETS Intangible assets 754 738 744 Tangible assets 15 16 15 Lease assets 111 128 120 Transition cost 49 21 29 Deferred tax 5 24 7 Deposits 12 12 12 Trade receivables 0 0 0 Total non-current assets 946 939 927 Inventories 5 3 4 Transition cost 12 3 6 Trade receivables 4 363 460 394 Work in progress 4 47 41 43 Other receivables 4 19 7 Pre-payments 40 36 23 Tax receivable 12 63 26 Cash and cash equivalents 72 85 87 Total current assets 555 710 590 Total assets 1,501 1,649 1,517 DKK million Jun 30, 2026 Jun 30, 2025 Dec 31, 2025 EQUITY AND LIABILITIES Share capital 250 250 250 Treasury shares -12 -1 -12 Retained earnings 521 545 541 Other reserves 23 7 7 Total equity 782 801 786 Leasing liability 98 114 106 Employee benefit obligation 5 4 5 Provisions 9 10 9 Trade payables 0 0 0 Deferred tax liability 6 0 6 Prepayments received, transition cost 17 0 14 Credit facilities 0 239 0 Total non-current liabilities 135 367 140 Prepayments received, transition cost 9 14 5 Prepayments received, work in progress 4 29 22 40 Deferred income 32 50 21 Leasing liabilities 24 21 24 Employee benefit obligations 0 3 2 Provisions 1 1 2 Trade payables 77 107 108 Employee cost payable 87 86 62 Tax payables 55 33 14 Other liabilities 52 44 45 Credit facilities 218 100 268 Total current liabilities 584 481 591 Total liabilities 1,501 1,649 1,517 Contingent liabilities and legal proceedings 5
Page 17
Executive Summary Business & Regional Performance Review Financial Outlook Other Events & Contact Financial Statements Accounting Notes COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 17 of 22 STATEMENT OF CASH FLOW DKK million Note Jun 30, 2026 Jun 30, 2025 Dec 31, 2025 STATEMENT OF CASH FLOW Net profit / loss for the period -20 -11 -24 Reversal of non-cash items 45 -2 52 Interest received/paid -13 -12 -25 Income taxes paid 53 -19 15 Cash flow before change in working capital 65 -44 18 Changes in working capital -2 -75 -36 Cash flow from operating activities 63 -119 -18 Capitalization of intangible assets -13 -16 -30 Purchase of tangible assets -3 -5 -6 Sale of tangible assets 0 0 0 Sublease payment received 2 6 7 Cash flow from investing activities -15 -15 -29 Dividends paid 0 0 0 Deposit (paid)/received 0 0 0 Installments on lease liabilities -13 -9 -21 Draw/(repaid) on credit facilities -51 68 -3 Cash flow from financing activities -64 59 -24 Net cash flow -15 -75 -71 Cash and cash equivalents at the beginning of the period 87 158 158 Cash and cash equivalents at the end of the period 72 83 87 Additional information 1: Cash and cash equivalents, assets 72 83 87 Drawn on credit facilities -218 -339 -268 Committed credit facilities 300 400 400 Financial resources at the end of the period 154 144 219 Cash flow from operating activities 63 -119 -18 Cash flow from investing activities -14 -15 -29 Free cash flow 49 -134 -47 1. Additional non-IFRS measures Financial resources at the end of the period’ is defined as the sum of cash and cash equivalents at the end of the period and undrawn committed credit facilities. Free cash flow is defined as ‘cash flow from operating activities’ less ‘cash flow from investing activities’.
Page 18
Executive Summary Business & Regional Performance Review Financial Outlook Other Events & Contact Financial Statements Accounting Notes COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 18 of 22 STATEMENT OF CHANGES IN EQUITY DKK million Share capital Treasury shares Retained earnings Currency revaluation Tax Total other reserves Proposed dividends Total EQUITY - June 30, 2026 Balance at the beginning of the period 250 -12 541 8 -1 7 0 786 Net profit/loss for the period 0 0 -20 0 0 0 0 -20 Other comprehensive income for the period 0 0 1 18 0 18 0 19 Total comprehensive income for the period 0 0 -19 18 0 18 0 -1 Transactions with owners: Transfer of treasury shares 0 0 0 0 -2 -2 0 -2 Share-based payments 0 0 -1 0 0 0 0 -1 Dividends paid 0 0 0 0 0 0 0 0 Balance at the end of the period 250 -12 521 26 -3 23 0 782 DKK million Share capital Treasury shares Retained earnings Currency revaluation Tax Total other reserves Proposed dividends Total EQUITY - December 31, 2025 Balance at the beginning of the period 250 -14 571 73 -10 63 0 870 Net profit/loss for the period 0 0 -24 0 0 0 0 -24 Other comprehensive income for the period 0 0 -1 -65 9 -56 0 -57 Total comprehensive income for the period 0 0 -25 -65 9 -56 0 -81 Transactions with owners: Transfer of treasury shares 0 2 -2 0 0 0 0 0 Share-based payments 0 0 -3 0 0 0 0 -3 Dividends paid 0 0 0 0 0 0 0 0 Balance at the end of the period 250 -12 541 8 -1 7 0 786 DKK million Share capital Treasury shares Retained earnings Currency revaluation Tax Total other reserves Proposed dividends Total EQUITY - June 30, 2025 Balance at the beginning of the period 250 -1 558 73 -10 63 0 870 Net profit for the period 0 0 -11 0 0 0 0 -11 Other comprehensive income for the period 0 0 1 -65 9 -56 0 -55 Total comprehensive income for the period 0 0 -10 -65 9 -56 0 -66 Transactions with owners: Transfer of treasury shares 0 0 -3 0 0 0 0 -3 Dividends paid 0 0 0 0 0 0 0 0 Balance at the end of the period 250 -1 545 8 -1 7 0 801
Page 19
Executive Summary Business & Regional Performance Review Financial Outlook Other Events & Contact Financial Statements Accounting Notes COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 19 of 22 ACCOUNTING NOTES NOTE 1 Accounting policies The consolidated financial statements for the first six months of 2026 are prepared in accordance with IAS 34 ‘Interim Financial Reporting’ and based on the same accounting policies for recognition and measurement as were applied in the Annual Report 2025. The financial reporting , including the consolidated financial statements , for the first six months of 2026 and Management’s review has been prepared in accordance with additional Danish disclosure requirements for interim reports of listed companies. See pages 124 to 134 of the Annual Report 2025 for a comprehensive description of the accounting policies applied for recognition and measurement. NNIT’s business is not considered to be materially affected by seasonality or cyclicality beyond normal quarterly business fluctuations.
Page 20
Executive Summary Business & Regional Performance Review Financial Outlook Other Events & Contact Financial Statements Accounting Notes COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 20 of 22 NOTE 2 Segment information NNIT consists of five regions, which individually are considered an operating segment: • Region Europe (including life sciences in Denmark) • Region US • Region Asia • Public Denmark (excluding life sciences) • SCALES The five regional P&Ls include allocated corporate cost such as legal, human resources, finance and global delivery centers. The operating segments reflect the internal reporting that is reviewed by the “Chief Operating Decision makers” consisting of the Executive Management and the Board of Directors. The internal reporting includes communication of revenue, costs and operating results for each of the operating segments. No reporting is made on assets. DKK million Region Europe Region US Region Asia Public DK SCALES Total 6M 2026 Revenue 285 144 67 181 188 864 Production cost 232 101 57 150 138 677 Gross profit 53 43 10 31 50 187 Gross profit Margin 18.6% 29.9% 15.2% 17.3% 26.4% 21.6% Regional EBIT 33 25 3 13 42 115 Regional EBIT margin 11.5% 17.2% 4.0% 7.0% 22.3% 13.3% Group EBIT1 -10 4 -8 -6 42 23 Group EBIT margin -3.4% 3.0% -11.6% -3.4% 22.3% 2.6% 6M 2025 Revenue 329 176 75 177 169 926 Production cost 255 110 61 156 116 698 Gross profit 74 67 14 21 53 229 Gross profit Margin 22.6% 37.7% 18.0% 11.8% 31.5% 24.7% Regional EBIT 49 46 6 6 43 150 Regional EBIT margin 14.9% 26.1% 8.0% 3.4% 25.2% 16.2% Group EBIT1 9 26 -3 -33 43 41 Group EBIT margin 2.8% 14.6% -4.7% -18.8% 25.2% 4.4% FY 2025 Revenue 629 313 153 352 341 1.788 Production cost 486 200 122 304 228 1.341 Gross profit 143 113 31 48 113 447 Gross profit Margin 22.7% 36.1% 20.2% 13.7% 33.0% 25.0% Regional EBIT 97 71 16 16 93 292 Regional EBIT margin 15.4% 22.6% 10.3% 4.5% 27.2% 16.3% Group EBIT1 25 35 -1 -58 93 94 Group EBIT margin 4.0% 11.1% -0.7% -16.3% 27.2% 5.3%
Page 21
Executive Summary Business & Regional Performance Review Financial Outlook Other Events & Contact Financial Statements Accounting Notes COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 21 of 22 1 When deducting special items and net financials consolidated profit before income taxes are obtained. NOTE 3 Special items DKK million Jun 30, 2026 Jun 30, 2025 Dec 31, 2025 Special items Related to: Restructuring cost 27 42 59 Employee benefit cost (contingent consideration agreement) 0 4 4 Board-initiated strategic process 0 0 17 Other 0 0 3 Total special items 27 46 83 If special items had been recognized in operating profit before special items, they would have been included in the following items: Cost of goods sold 0 31 4 Administrative expenses 27 15 79 Total special items 27 46 83 NOTE 4 Related party transactions DKK million Jun 30, 2026 Jun 30, 2025 Dec 31, 2025 Related party transactions Assets Receivables from related parties 17 48 27 Work in progress related parties 1 0 1 Liabilities Liabilities to related parties 0 0 0 Prepayments from related parties 8 4 4 NOTE 5 Contingent liabilities and legal proceedings The Group is occasionally involved in legal, customer and tax disputes in certain countries. Such disputes are by nature subject to considerable uncertainty. None of these cases are expected to have a material impact on the financial position of NNIT.
Page 22
Executive Summary Business & Regional Performance Review Financial Outlook Other Events & Contact Financial Statements Accounting Notes COMPANY ANNOUNCEMENT 08/2026 | INTERIM FINANCIAL REPORT Q2 2026 | PAGE 22 of 22 NOTE 6 Currency sensitivities Estimated annual impact of NNIT’s operating profit of a 10% increase in the outlined currencies against DKK EUR -1 CNY 0 CZK -2 USD 2 CHF 2 PHP -2 Key currency assumptions DKK per 100 2024 average exchange rates 2025 average exchange rates 2026 average exchange rates CNY 95.61 94.29 93.34 EUR 745.80 746.07 747.21 CZK 29.82 29.84 30.73 PHP 12.12 11.97 10.68 CHF 775.94 792.58 814.09 USD 689.80 683.94 640.58 Currency development NNIT has a net cost exposure in the Euro, the Czech koruna and the Philippine peso. Therefore, a depreciation of these currencies versus Danish kroner has a positive impact on reported operating profit, whereas an increase will have the reverse effect. For the other main currencies, NNIT has net profit exposure. Therefore, an increase of CNY, CHF, and USD versus Danish kroner has a positive impact on reported operating profit, whereas a decrease will have the reverse effect. The effect from currency development in H1 2026 gives a positive impact on EBIT of DKK 1.5 million. DKK per 100 Trade receivables Trade Payables Net balance position Transaction exposure 10% sensitivity CNY 2.3 0.5 1.8 1.8 0.2 EUR 0.0 4.3 -4.3 -4.3 -0.4 CZK -0.1 0.1 -0.2 -0.2 0.0 CHF 1.9 2.5 -0.6 -0.6 -0.1 USD 11.2 7.2 4.0 4.0 0.4