Interim report
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Q2 & 6M Interim Report Three and six month periods ended 30 June 2026Trifork Group 2026
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2 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure 1 Letter from the CEO ........................................................................................................ 3 2 Key figures & main events ............................................................................................ 4 3 Financial review ............................................................................................................. 7 4 Statement by the Board of Directors and Executive Management ...................... 18 5 Consolidated interim financial statements of the Trifork Group .......................... 19 Main statements ........................................................................................................... 20 Notes ............................................................................................................................... 27 6 Trifork Group Structure ................................................................................................ 37 2 Contents
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1 3 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure LETTER FROM THE CEO Solid organic growth and improved margins The second quarter of 2026 demonstrated strong operational performance, meeting expectations and confirming our trajectory towards the full- year guidance of EURm 230-240 in revenue (7-11% organic growth) and EURm 35-40 adjusted EBITDA (16-33% growth). Organic revenue growth reached 9% in Q2, and 11% if excluding hardware revenues. Group adjusted EBITDA rose by 21% year-on-year, resulting in an 11% margin up from 9% in the previous year. The public sector was a significant driver, con- tributing half of Group revenue in Q2. Growth was once again led by Products, with or- ganic revenue growth of 13%, and 23% if excluding hardware. The EBITDA margin in Products grew to just over 20% compared to 16% in the same quar- ter last year. Our product-led strategy continued to evolve, supported by new leaders with exten- sive experience in building and scaling product revenue and product-driven organisations. In Services, organic revenue grew by 7%, and EBITDA margin exceeded 10%, compared with 9% in Q2 2025. We are actively working to enhance margins through ongoing cost management, updating contracts to reflect the cost of delivering advanced technology, and bundling services alongside our product offerings. Looking forward to the second half of the year, our priorities include securing more recurring contracts. The Danish data centre and man- aged services business maintained its robust performance, accounting for about one fifth of total Group revenue and growing at a strong double-digit rate. This growth is fuelled both by renewals from longstanding customers and by acquiring new. Our commitment to open-source technology and sovereignty through national data centres and local operations teams provides a distinct competitive advantage. Decades of experience working with the most demanding customers enables us to engage with organi- sations producing sensitive and critical data. In the second half, our Contain platform will expand with a new Infrastructure-as-a-Service offering, already sold to critical infrastructure customers. This supports our sovereignty agenda and is anticipated to drive continued growth in revenue and profit. AI is now a central topic in most customer discus- sions. For large organisations, however, extracting business value from AI is not always straightfor- ward. Many people overestimate the speed at which industries such as government, financial services, healthcare, energy, and aviation adopt new technologies, while underestimating the expertise and diligence required to generate sustained value. A century ago, people might have predicted that by now, urban travel would be dramati- cally faster. Yet in 2026, factors like traffic, city planning, and regulation mean that navigating central London or Copenhagen is only marginally quicker than it was a hundred years ago. The true value emerged elsewhere - from innovations in logistics, distribution, mapping, and supply chains. The lesson for AI is similar: transformation comes not from a general leap in capability but from rebuilding specific processes around new tools, led by those who deeply understand them. This is the work we at Trifork focus on - helping our customers overcome obstacles they cannot tackle alone, such as moving from pilot to full production, ensuring security and governance in regulated environments, and maintaining true control over where data and models operate. One of Trifork’s principal missions today is to support customers in these critical areas. Our case study with the large financial institution Nykredit, fea- tured on page 15, illustrates this and shows how AI now supports their credit decision process. In-house, we are maximising the benefits of tech- nological innovation and AI - using it to generate code, detect bugs, clarify specifications, and accelerate product and concept development. We are rapidly adopting new AI solutions for busi- ness intelligence, so that company data can be prompted directly. Faster delivery does not reduce business, but rather shifts where our resources are applied. The engineering capacity gained using AI is being reinvested in Products, contributing to the strong organic growth seen this quarter. In July, we announced the partial divestment of Trifork Labs assets to Verdane for EURm 23, slightly above book value, with additional earnout po- tential. Subject to completion of the transaction, the Board intends to propose an extraordinary dividend of DKK 3.00 per share, supplementing our ongoing share buyback programme, with the remaining proceeds strengthening our core busi- ness for future acquisitions and organic growth investments. Organic growth was 11% in Q2 adjusted for hardware effects, driven by our product-based business which grew 23%. Adj. EBITDA increased by 21% in the quarter. Jørn Larsen CEO Trifork Group
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Key Figures & main events Q2 & 6M2026 • Financial Review Financial Statements Structure Key Figures
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5 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure Financial highlights and key figures (EURk) Q2/2026 Q2/2025 6M/2026 6M/2025 12M/2025 Revenue from contracts with customers 58,202 55,101 114,327 112,589 220,852 - thereof from Products 21,516 20,738 38,774 39,925 77,695 - thereof from Services 36,672 34,344 75,525 72,636 143,123 Total revenue growth 5.6% 5.1% 1.5% 9.5% 7.2% - thereof organic 9.0% 2.9% 4.5% 6.7% 7.0% Special items -14 - -14 - 3,128 Adjusted EBITDA 6,293 5,192 15,010 12,060 30,126 - thereof from Products 4,340 3,287 9,025 5,282 16,223 - thereof from Services 3,800 3,125 9,341 8,930 19,600 Adjusted EBITDA-margin 10.8% 9.4% 13.1% 10.7% 13.6% EBIT 2,187 1,131 6,878 3,924 16,755 EBIT-margin 3.8% 2.1% 6.0% 3.5% 7.6% EBT 2,205 207 6,349 1,604 15,580 - thereof from investment in Labs 207 -136 -430 -632 1,620 Diluted earnings / share (EPS diluted - in EUR) 0.01 -0.01 0.16 0.03 0.53 Investments in Labs & in associated companies 80,089 84,352 80,089 84,352 78,032 Equity attributable to the shareholders of Trifork Group AG 144,234 133,082 144,234 133,082 145,177 Return on equity (LTM) 9.3% 11.2% 9.3% 11.2% 7.4% Cash flow from operating activities 2,233 1,142 8,321 8,389 32,566 Free cash flow -2,003 -169 -126 6,246 27,344 Net liquidity/(debt) 1 -34,785 -41,788 -34,785 -41,788 -17,587 Cash conversion (LTM) 89.8% 82.8% 89.8% 82.8% 97.9% Average number of employees (FTE) 1,118 1,122 1,115 1,136 1,136 The financial highlights and key ratios have been prepared on the basis of the CFA Society Den - mark “Recommendations & Ratios”. "Adjusted" means adjusted for the effects of special items. For further definitions refer to page 36. 1 The market value of the treasury shares is not included in the net liquidity/(debt) calculation. As of 30 June 2026 the fair value amounted to EURm 6.1.
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6 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure Main Events Second quarter In the quarter, Trifork acquired EURm 2.0 of the EURm 10.0 share buyback which runs until 31 December 2026. All shares acquired under the program will be cancelled to the benefit of Trifork's shareholders. The subsidiary Netic A/S entered into a strategic partnership with European cloud provider OVHcloud to deliver sovereign cloud solutions to Danish enterprises and public sector organizations, combining OVHcloud's open cloud infrastructure with Netic's man- aged services expertise to provide a compli- ant alternative to non-European providers. Trifork acquired VION AI GmbH, a specialist in AI-driven real-time operational intelligence for aviation, to strengthen its position in airline and airport operations and integrate VION AI's edge AI capabilities with Trifork's existing iFly4 platform. The acquisition is not expected to have a material impact on Trifork Group's revenue or earnings in 2026. Trifork appointed Bjørn Büchmann-Slorup as Chief Commercial Officer of its Fintech division, reinforcing Trifork's strategic focus on delivering cutting-edge products and solutions to the financial sector. Trifork appointed Patrick Lamb to CEO of Trifork North America. He brings to the role di- rect operational experience as the company's Head of Sales for North America leading the company's growth across the region. Trifork participated in and held multiple events across Europe and North America as headline speaker focused on sovereign data infrastructure, agentic AI, digital health, and digital government. Events after the quarter ended On 16 July, Trifork announced the partial divestment of Trifork Labs portfolio assets to Verdane at a total cash consideration of EURm 22.8, above existing book values with additional earnout payments based on future portfolio performance. Trifork announced that further realization of portfolio values is being pursued. Trifork announced its intention to structure its finan- cial investments in a new LabsX company, and stated that a substantial part of the LabsX book value is expected to be exited or distributed wholly or partially at attractive terms within 24 months, either on an ongoing individual basis or in one or more structured portfolio transactions. An extraordinary dividend of DKK 3.00/share will be proposed by the Board of Directors, subject to the completion of the Verdane transaction.
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Financial review Q2 & 6M2026 • Key Figures Financial Statements Structure Financial Review
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Trifork Group Financial guidance General In the second quarter 2026, Trifork Group continued its strategic shift to a product-led approach. The results for the second quarter 2026 con - firms continued growth on Products and their productivity. Further, the achieved results do also confirm the expectations for the full year, and the initial guidance for 2026 remains unchanged. For the full year, at least the same level of hardware rev- enues as in 2025 is expected, even if in the first six months of 2026 this was lower than in the same period in 2025. Trifork Group revenue 58.2 55.1 114.3 112.6 Q2/2026 Q2/2025 6M/2026 6M/2025 Revenue of EURm 58.2 represents a total rev - enue growth of 5.6% compared to Q2/2025. Adjusted for the acquisition of VION AI GmbH and the deconsolidation of Trifork Security A/S, the organic growth rate was 9.0%. If excluding the impact from hardware sales, revenue grew organically by 11.4%. In the second quarter 2026, the revenue was split equally between the public and private sector, coming from a 33.3% revenue growth in the public sector. The growth was achieved by new engagements within e-health and sover - eign data solutions. VION AI GmbH was acquired end of April 2026 and the company is developing a software solution for airlines in order to optimize the turnaround of airplanes (on-/off-boarding, cleaning, carry-on baggage management). Revenue streams and segments Products 37.0% Services 63.0% Other 0.0% Segments Q2/2026 The revenues are internally reported in two operational segments and Other. Products (delivery and operation of software products and related productized services for customers), Services (development of innovative software solutions for customers) Segment revenue shows the following results: Revenue (EURm) Q2/ 2026 Q2/ 2025 6M/ 2026 6M/ 2025 Products 21.5 20.7 38.8 39.9 Services 36.7 34.3 75.5 72.6 Other - - - 0.1 Trifork 58.2 55.1 114.3 112.6 Products With a revenue of EURm 21.5 the Products segment grew by 3.8%. Organically, the seg- ment revenue increased by 13.1% (acquisition of VION AI GmbH and deconsolidation of Trifork Security A/S) and even by 23.2% by adjusting for hardware sales. The growth was driven by increased focus on selling own products and productized solutions. EURm 2026 6M Result Revenue 230 - 240 114.3 Adjusted EBITDA 35 - 40 15.0 In Q2/2026, Trifork Group's revenue grew organically by 11.4% (adjusted for hardware sales) Guidance maintained as published at 27/02/2026. The financial review is presented in Euro and all amounts are in million (EURm), unless otherwise stated. Due to rounding, numbers presented may not add up precisely to the totals and percentages may not precisely reflect the absolute figures. 8 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure
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Services With a revenue of EURm 36.7, Services deliv- ered around two thirds of total revenue. Total revenue (all organic) grew by 6.8%. Even though we had substantial activities in Labs in the second quarter 2026, they do not show in the revenue of Trifork Group since the status and ownership ratio of Labs companies do not meet the requirements to be fully con - solidated. Operating costs The most significant cost in the Trifork Group is personnel costs. In the second quarter 2026, total personnel costs were EURm 32.1 (Q2/2025: EURm 31.0). Personnel cost per employee have increased by 4.2% due to general cost inflation. Personnel costs as a proportion of revenue decreased from 56.2% in the second quarter of 2025 to 55.2% in the second quarter 2026. We expect that personnel cost as a proportion of revenue will decline in the future. Improve - ments are to be driven by adopting the work - force to potential revenue fluctuations and by increased product-based revenue and the use of AI to improve productivity per employee. Full-time equivalent (FTE) 1,118 1,122 1,115 1,136 Q2/2026 Q2/2025 6M/2026 6M/2025 For the second quarter 2026, the average number of FTEs is lower by 4 compared to the same period in 2025, mainly from cost-saving measures/reorganization and the deconsolida- tion of Trifork Security A/S. At the end of June 2026, the total headcount within companies consolidated in the Trifork Group amounted to 1,196 (30/06/2025: 1,187). Development in adjusted EBITDA 6.3 5.2 15.0 12.1 Q2/2026 Q2/2025 6M/2026 6M/2025 In Q2/2026, the Trifork Group realized EURm 6.3 adjusted EBITDA * corresponding to a 20.9% increase compared to Q2/2025 and an adjusted EBITDA margin of 10.8% (Q2/2025: 9.4%). Adjusted EBITDA was divided in the following way between Trifork and Trifork Labs: Adjusted EBITDA (EURm) Q2/ 2026 Q2/ 2025 6M/ 2026 6M/ 2025 Products 4.3 3.3 9.0 5.3 Services 3.8 3.1 9.3 8.9 Labs -0.5 -0.5 -1.1 -1.0 Other -1.3 -0.7 -2.2 -1.1 Trifork Group 6.3 5.2 15.0 12.1 With a contribution of EURm 4.3 in adjusted EBIT - DA, the Products segment reported adjusted EBITDA margin of 20.2% (Q2/2025: 15.9%). Management considers the margin as accept - able and will provide further measures and solutions to safeguard and optimize this margin level. However, variances due to potential in - vestments in products may occur. Trifork is currently investing in AI training and tools and these costs should soon be sur - passed by additional income from a broader and deeper offering of the Service segment as well as generally lower cost for the software development. For the second quarter 2026, the Services segment adjusted EBITDA margin stood at 10.4% (Q2/2025: 9.1%). The negative EBITDA of EURm -0.5 in Labs represents all the cost of operating it. This is an expected result given the nature of Trifork Labs and the activity level in the second quarter 2026. Part of the costs represent a variable ele - ment based on the achieved fair value increase and profits for the Labs segment. The adjusted EBITDA in the Other segment mainly represents the general corporate costs of Trifork Group. When comparing the 2026 re - sults to the previous year it is to be considered that additional costs incurred for the strategic update, including the new COO role and lower activities in the comparative period. Development in EBIT 2.2 1.1 6.9 3.9 Q2/2026 Q2/2025 6M/2026 6M/2025 In the second quarter 2026, Trifork Group realized an EBIT of EURm 2.2 (Q2/2025: EURm 1.1), which corresponds to an increase of 93.4% compared to the previous period. The EBIT-mar - gin stands at 3.8% (Q2/2025: 2.1%). Depreciation and amortization developed as expected. Following the increased focus on product-led business, future capitalization of internally developed solutions is expected to increase the base for amortization over time. * Adjusted for special items (EURm 0.01 in Q2/2026) 9 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure Trifork Group
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Net income 0.6 0.1 4.2 1.0 Q2/2026 Q2/2025 6M/2026 6M/2025 In the second quarter 2026, the Group net in - come was EURm 0.6 (Q2/2025: EURm 0.1). The net financial result in the period amounted to EURm 0.0, compared to EURm 0.9 in the sec - ond quarter 2025. The fair value adjustments from investments in Labs/associated companies amounted to EURm 0.6 (Q2/2025: EURm 0.7). Other elements in the total financial results were other financial expenses, net (EURm -0.9) and gains on foreign exchange (EURm 0.2). As the functional currencies of some Group com - panies differ from EUR, the currency translation adjustments (EURm-0.2) are not included in net income but in other comprehensive income. The effective tax rate for the Group was 33.8% in the first six months 2026 (6M/2025: 36.3%). The effective tax rate is above the expected tax rate, mainly due to non-capitalization of tax losses in companies for which Trifork Group assess the utilization is not likely in the short-term. For the second quarter 2026, EURm 0.4 of the profit belongs to non-controlling interests (Q2/2025: EURm 0.2). The result corresponds to a EUR 0.01 basic and diluted earnings per share (Q2/2025: EUR -0.01). and 9.3% return on equity (Q2/2025: 11.2%). Assets and equity ASSETS Total assets increased by 1.4% from EURm 313.1 as of 31 December 2025 to EURm 317.6 as of 30 June 2026. The main contributors were Net increase of EURm 8.1 on intangible assets, right-of-use assets and PPE (net acquisition of assets, amortization, depreciation and impairment). This bases mainly on the acqui- sition of VION AI GmbH and the building of a new data centre. Increase of current receivables and contract assets by EURm 4.6, mainly due to higher activities compared to year end. Increase of prepaid expenses of EURm 2.6 on a seasonal basis and due to products busi- ness (hosting). Activities in the Labs investments/associated companies (acquisition, disposal and fair value adjustments) of EURm 1.3. Net cash outflow of EURm -12.9. With focus on Trifork Group's product business, EURm 1.8 were capitalized on development proj- ects in the first half year of 2026 (FY2025: EURm 3.6). In the same period EURm 1.1 was amortized on the capitalized development projects (FY2025: EURm 1.9). SHAREHOLDERS’ EQUITY 115.4 121.7 134.8 146.0 144.9 2022 2023 2024 2025 30/06/2026 As of 30 June 2026, Group equity amounts to EURm 144.9, which is a -0.8% decrease com - pared to 2025. The equity value is influenced by the acquired treasury shares from the share - buy-back program that forms a negative position (30/06/2026: EURm -5.9 / 31/12/2025: EURm -3.1). A total of EURm 0.6 of the shareholders’ equity is allocated to non-controlling interests (NCI). The equity ratio (excl. NCI) at the end of June 2026 was 45.3% (2025: 46.4%). 10 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure Trifork Group
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Cash flow and cash position OPERATING ACTIVITIES In the second quarter 2026, net cash flows from operating activities amounted to EURm 2.2 (Q2/2025: EURm 1.1). The increase can generally be explained by the higher EBITDA (EURm +1.1). The cash conversion in LTM cash conversion was at 89.5% (Q2/2025: 82.8%). INVESTING ACTIVITIES Cash flows from investing activities amounted to EURm -6.8 (Q2/2025: EURm 1.3). The main contributors were Acquisition of VION AI GmbH for EURm -1.1 Net CAPEX of EURm -4.2 (building of a new data center in Denmark) Additional share acquisition of a Labs invest- ment for EURm -1.3 FINANCING ACTIVITIES Cash flows from financing activities amounted to EURm -1.5 (Q2/2025: EURm -3.3). The main contributors were Net new borrowings of EURm 7.0 Acquisition of non-controlling interests in Nine A/S for EURm 3.3 Lease payments of EURm -2.1 Net acquisition of treasury shares for EURm -2.0 Interest paid of EURm -0.7 Dividends of EURm -0.5, paid to minorities in subsidiaries CASH POSITION As of 30 June 2026, Trifork Group had an net interest bearing debt position of EURm 34.8 (2025: EURm 17.6) and net-interest-bear- ing-debt-to-adjusted EBITDA ratio of 1.1x (2025: 0.5x). Further, it held treasury shares with a market value of EURm 6.1 as of 30 June 2026 (2025: EURm 2.8). Operating Investing Financing Total 1.1 2.2 -1.3 -6.8 -3.3 -1.5 -3.6 -6.1 Trifork Group - development in Cash Flow (EURm) Q2/2025 Q2/2026 11 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure Trifork Group
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Labs Segment General The Labs segment supports Trifork Group's culture, innovation efforts, and commercial strategy, with a current focus on strategic partnerships and enterprise joint ventures that generate strong synergies with Trifork's core business. Inbound interest in the Labs portfolio continues to grow, reflecting broader market momentum. In Q1/2026, Executive Management initiated a strategic review of Trifork Labs, which resulted in a partial divestment of a portfolio of selected investments and additional measures to realize the current book values. For com - prehensive details, please refer to Company Announcement #41/2026. Trifork Group applies a conservative approach to fair value assessment. Negative adjustments are made immediately when a company is not tracking its plan across growth, cash flow, or financing. Positive adjustments are only rec - ognized upon completion of a new investment round led by an external investor at a higher valuation, or, for profitable companies, upon re - ceipt of an approved financial report support - ing a higher DCF value. Development in EBITDA/EBIT and EBT The financial focus for the Trifork Labs segment is to increase the value of the capital invested* and channel tangible revenue or cost synergies to the Trifork segment. EBITDA/EBIT of EURm -0.5 were at the expected level (Q2/2025: EURm -0.5) as this represents the management cost for the Labs segment, part of which is variable in relation to the annual fair value adjustments. The fair value adjustments from investments in Labs/associated companies amounted to EURm 0.6 (Q2/2025: EURm 0.7) and the total financial result, influenced additionally by the foreign exchange result on intercompany loans within the Labs organization, amounted to EURm 0.7 (Q2/2025: EURm 0.4). Net realized gains 3.4 -4.0 6.1 16.0 0.4 2022 2023 2024 2025 6M/2026 Realized gains In the first six months 2026, EURm 0.4 could be considered realized (dividend income). Howev - er, EURm 0.8 could be cashed in from the earlier partial sale of the investment in XCI Holdings A/S which was disclosed as "current" as per year-end 2025. Book value of the Labs portfolio (non-current) 16.2 17.7 19.1 22.9 24.2 44.1 54.2 64.1 55.1 55.9 2022 2023 2024 2025 30/06/2026 Invested cash Unrealized gains At the end of Q2/2026, the total booked value of investments in the current active Labs compa - nies amounted to EURm 80.1. Of this, EURm 24.2 was registered as invested cash and EURm 55.9 as accumulated unrealized gains (incl. re-in - vested gains from deconsolidated Trifork Group companies). The charts/information include the develop - ment of values from investments in Labs and in associated companies. * Trifork Labs did not consolidate any of the investments since the status and ownership ratio of the investments does not meet the requirements. Therefore, no revenue is generated by Trifork Labs and EBITDA/EBIT only show the cost of running the investment activities. 12 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure
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Investment portfolio Fauna Q2 book value: EURm 80 Partnership with Verdane Port/Fw2olio sale to Verdane in Q/F27 LabsX Strategic investments * The transaction with Verdane is subject to final legal completion 13 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure Labs Segment
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INDUSTRY Energy and Utilities CUSTOMER Kamstrup A/S Kamstrup has extended its strategic partnership with Netic for an additional three years, cementing a collaboration that will span a minimum of six years. By relying on Netic’s Managed Application Platform, Kamstrup frees up crucial re - sources, ensures 24/7 uptime, and allows their development teams to focus 100% on what they do best: creating world- class smart metering solutions. From operational complexity to global expansion As a global leader in energy and water meter - ing, Kamstrup's digital landscape requires a highly scalable and robust foundation. In order to support their international growth, Kamstrup faced a significant need to deploy applications across multiple Azure regions. A managed layer in Kamstrup's own Azure tenant Instead of handling the complex internal op - erations of 'raw' Kubernetes, Kamstrup utilizes Netic’s Contain platform – a fully Managed Application Platform built as an optimized layer directly on top of Kubernetes. With Contain as the foundation, Kamstrup ensures a completely uniform architecture across all geographical regions. This minimizes complexity and reduces time-to-market, as the underlying setup re - mains 100% identical regardless of where in the world the customers are located. Security and 24/7 readiness Operating business-critical applications re - quires clear responsibilities and zero oper - ational "gray zones". By placing the platform operations with Netic, Kamstrup benefits from full observability across all layers. Netic handles the 24/7 monitoring and mainte - nance of the foundation. Because the plat - form resides locally in Kamstrup’s own Azure environment, it natively integrates with their existing security parameters, minimizes network latency, and ensures that the platform is always available and performing optimally for their global customers. An expanded strategic scope for the future The renewed contract builds upon a highly solid foundation but significantly expands Netic’s responsibilities. The new agreement establishes a stronger procedural framework for the col - laboration, with a critical strategic focus on en - suring data sovereignty and actively preventing vendor lock-in. Kamstrup trusts Netic with its global infrastructure, around the clock CASE STORY "With Netic's Contain platform and their Managed Services, we don't have to worry about the infra- structure beneath our applica- tions. We have a trusted partner who knows our setup inside out, ensuring we can scale dynami- cally across global regions while keeping full control." Anushree Pandey Head of Enterprise Platforms and Applications, Kamstrup TRIFORK PRODUCT Contain 14 Q2 & 6M2025 • Key Figures Financial Review Financial Statements Structure
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INDUSTRY Financial Services CUSTOMER Nykredit TRIFORK PRODUCT &money Engage Corax AI Nykredit is Denmark’s largest mortgage lender and one of the country’s leading financial in - stitutions. To support its customer- and advi - sor-driven business model, Nykredit continu - ously invests in digital tools that help advisors navigate complex credit processes and make well-documented credit decisions. Accelerating credit operations in a regulated environment Credit advisors at Nykredit navigate a rule-in - tensive process, from initial customer dialogue through assessment and final credit decision. The complexity of the domain, combined with limited digital tooling meant that the overall process was less efficient than it needed to be. At the same time, Nykredit faced a hard migra - tion deadline following the merger of Spar Nord and Nykredit. A replacement solution therefore had to be delivered quickly, across a complex domain with many stakeholders and intricate business rules. A generic rules engine built on the &money Engage platform Rather than starting from scratch, &money and Trifork took a platform-first approach. Nykredit is already using the &money Engage plat - form, and the Credit Rule Engine was built as a modular add-on on top of it – reusing existing services, security infrastructure, and opera - tional components. This dramatically reduced time-to-market without sacrificing quality or scalability. The solution provides advisors with a guided, intuitive workflow that walks them through each step of the credit process. Real-time feedback on creditworthiness, automatic calculations, and data fetched directly from source systems ensure that advisors always work with accurate, up-to-date information. The underlying rules engine is intentionally generic and layered separating UI, business logic, and integrations, making it straightforward to adapt as credit rules and business needs evolve. The engine can also be used in other banks and banking domains. The close collaboration between &money, Trifork, BEC/Nykredit's domain specialist and business stakeholders was itself a key acceler - ator. Business and development worked as one team referred to as “the joint success team”, with continuous prioritization and rapid deci - sion-making. The result: 95% of functionality was delivered a month ahead of deadline. Driving adoption and advisor satisfaction Since go-live March 2026, the solution has been adopted rapidly across the organization: 1,000+ advisors onboarded 4 out of 5 satisfaction score from advisors, exceptionally high for systems in this domain The Credit Rule Engine demonstrates what be - comes possible when a capable platform, tight business collaboration, and an iterative delivery model come together. &money and Trifork delivered a production-ready solution at record speed and built a foundation that can continue to grow into other banking domains. AI advisory support via Trifork Corax AI With the foundation in place, AI intelligence has now been added to the workflow. Trifork's Corax AI platform is integrated to provide AI assisted support in the credit process – helping advisors navigate complex cases, surface relevant information faster, and make better-informed recommendations. This brings the power of enterprise AI into the daily workflow of Nykredit's advisors, built on a platform already trusted and in active use. Credit Rule Engine: A complex credit documenting solution at record speed CASE STORY “The solution has strengthened our ability to deliver consistent, high-quality credit advisory ser- vices while reducing complexity for our advisors. The partnership with &money allowed us to move quickly, align business and tech- nology priorities, and deliver a business-critical platform signifi- cantly ahead of schedule.” Casper Kidmose First Vice President, Digital Bank, Nykredit 15 Q2 & 6M2025 • Key Figures Financial Review Financial Statements Structure
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INDUSTRY Aviation CUSTOMER SWISS SWISS and Trifork are developing a Vision AI capability to automate passenger counting and create insights during aircraft turn - arounds. The initiative starts with a cabin crew workflow while building a foundation for observing physical events around the aircraft in real time. Starting with a focused operational challenge Passenger counting is a safety-critical and time-sensitive task that traditionally requires manual effort from cabin crews. Uncertain results can also lead to recounts and additional workload. Through the On-Board Count initiative, SWISS and VION AI, a Trifork company, are testing whether computer vision can automate the process with the reliability required for daily operations. The model is showing promising results, with passenger-count accuracy above 99%. The teams continue improving performance across aircraft types, cabin layouts, lighting conditions, and boarding patterns. Vision AI designed for live operations The solution combines aviation-specific computer vision models, edge processing, and operational testing. It is being developed with SWISS teams to support existing workflows, protect privacy, and avoid disrupting cabin operations. The objective is to introduce automated pas - senger counting into live operations in autumn 2026. By reducing a repetitive manual task, the solution can give cabin crews more time to focus on safety, service, and their guests. From passenger counting to broader operational insight Following Trifork’s integration of VION AI in spring 2026, SWISS and Trifork are exploring how the same capability can support turnaround workflows. Vision AI could observe deboarding progress, crew changes, catering and cleaning mile - stones, turnaround events, and different types of carry-on baggage. Real-time information and precise timestamps could support live decisions, post-operational analysis, earlier deviation detection, and more precise process measurement. Building the foundation for future operations SWISS and Trifork are evaluating future use cases with operational experts and business owners, focusing on one clearly defined value driver at a time. The initiative builds on more than 15 years of collaboration. This shared operational under - standing provides a strong foundation for in - troducing new technology into one of aviation’s most complex and time-sensitive processes. From automated passenger counting to smarter turnaround operations CASE STORY “Safety will always be our highest priority, but we also want to make everyday tasks as simple and efficient as possible for our cabin crews. Automating the passenger count reduces a repetitive manual task and gives our crews more time to focus on what matters most: ensuring a safe operation and looking after our guests.” Thomas Gross Head of Cabin Operations, SWISS AI-generated image TRIFORK PRODUCT iFly4 16 Q2 & 6M2025 • Key Figures Financial Review Financial Statements Structure
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INDUSTRY Healthcare CUSTOMER Danish Regions of Midtjylland, Nordjylland, and Syddanmark TRIFORK PRODUCT Trifork Health Platform A shared direction across three Danish regions For people living with severe mental illness, a crisis and coping plan can help identify warning signs, coping strategies, and what to do during a crisis. The challenge is making these plans part of everyday care rather than just another document in the medical record. Region Midtjylland, Region Nordjylland, Region Syddanmark, and Trifork Digital Health set out to define a shared digital approach to crisis, coping, and prevention plans. The goal was to support better collaboration between patients and clinicians and create a common direction for further development across regions. From clinical needs to product direction Through user research, workshops, and valida- tion with patients and clinicians, Trifork helped the three regions define a shared product vision, proposed concept, governance model, MVP scope, technical architecture, pilot strate - gy, and roadmap. The ambition is to create a digital collabora - tion tool that patients can use before, during, and after a crisis, while supporting clinicians in treatment and follow-up without adding unnecessary documentation. The concept in - cludes a patient-facing solution and a clinician interface built around the same information. Development and preparation for pilot testing are now underway. Building on Trifork Health Platform The proposed architecture builds on Trifork Health Platform (THP), which provides reus - able components for secure healthcare data, interoperability, identity management, and integrations based on recognized healthcare standards. Using existing platform technology means the project can focus on the clinical and organi - zational challenge rather than rebuilding core infrastructure. It also provides a technical foun - dation for further development and shows how Trifork’s proprietary technology can shorten the path from concept to implementation. Designed to evolve The planned first release will focus on ambu - latory mental healthcare, but the roadmap reaches further. Over time, the solution may support additional patient groups, family members and other close relations, municipal - ities, general practice, and other parts of the healthcare system. The project reflects how Trifork combines healthcare expertise, product strategy, design, architecture, and reusable platform technology to help customers create digital products that can develop and scale over time. Rethinking crisis and coping plans for mental healthcare CASE STORY “Our ambition was to create more than a digital crisis plan. We wanted a solution that gives patients greater ownership while fitting naturally into clinical prac- tice. Trifork helped our three re- gions align around a shared vision and translate user insights into a concrete concept and roadmap for implementation.” Emil Rosenlund Bak IT Project Manager, Digital Psykiatri, Region Midtjylland AI-generated image 17 Q2 & 6M2025 • Key Figures Financial Review Financial Statements Structure
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Statement by the Board of Directors and Executive Management Today, the Board of Directors and the Executive Management have considered and approved the interim report of Trifork Group AG for the financial periods 1 April to 30 June 2026 and 1 January to 30 June 2026. The interim report includes consolidated interim financial statements prepared in accordance with IAS 34 Interim Financial Reporting. The consolidated interim financial statements do not include all the information and disclo - sures required in the annual financial state - ments, and should be read in conjunction with the Group’s annual financial statements as of 31 December 2025. The accounting policies applied in the con - solidated interim financial statements are consistent with the consolidation and measure - ment principles disclosed in the consolidated financial statements 2025. In our opinion, the consolidated interim finan - cial statements give a true and fair view of the Group’s financial position on 31 December 2025 and of the results of the Group’s operations and cash flows for the financial periods 1 April to 30 June 2026 and 1 January to 30 June 2026. In our opinion, the management’s review includes a true and fair review of the develop - ment in the Group’s operations and financial matters, the results for the period, and the position as a whole for the entities included in the consolidated interim financial statements, as well as a review of the more significant risks and uncertainties faced by the Group and the parent company. The consolidated interim financial statements have not been audited nor reviewed by the company’s independent auditor. Schindellegi, 17 August 2026 Anja Monrad Chairperson Lars Stugemo Vice-Chairperson Erik Jakobsen Board member Danny Lange Board member Geeta Schmidt Board member Anne Templeman-Jones Board member Jørn Larsen CEO Kristian Wulf-Andersen CFO 4 18 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure 18
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Trifork Group Consolidated Interim Financial Statements Q2 & 6M/2026 Q2 & 6M2026 • Key Figures Financial Review Structure Financial Statements
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20 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure Contents 1 Consolidated Interim Income Statement ........................................................... 21 2 Consolidated Interim Statement of Comprehensive Income ..................... 22 3 Consolidated Interim Statement of Financial Position .................................. 23 4 Consolidated Interim Statement of Changes in Shareholders' Equity ..... 24 5 Consolidated Interim Statement of Cash Flows .............................................. 25 6 Notes to the Consolidated Interim Financial Statements ............................. 27 Consolidated Interim Financial Statements 20
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21 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure Consolidated Interim Income Statement for the three and six-month periods ended 30 June 2026 (in EURk) Notes Q2/2026 Q2/2025 6M/2026 6M/2025 12M/2025 Revenue from contracts with customers 1/2 58,202 5 5 , 1 0 1 1 1 4 , 3 2 7 1 1 2 , 5 8 9 220,852 Rental income 1 1 8 73 250 1 5 0 325 Other operating income 36 258 2 0 1 755 4 , 4 4 5 Operating income 5 8 , 3 5 6 5 5 , 4 3 2 1 1 4 , 7 7 8 1 1 3 , 4 9 4 2 2 5 , 6 2 2 Cost of goods and services purchased - 1 3 , 4 8 5 - 1 3 , 0 0 7 - 2 3 , 1 9 8 - 2 5 , 5 4 5 - 4 6 , 2 6 7 Personnel costs - 3 2 , 1 4 3 - 3 0 , 9 5 8 - 6 4 , 5 1 2 - 6 3 , 7 9 2 - 1 2 1 , 8 2 5 Other operating expenses 3 - 6 , 4 4 9 - 6 , 2 7 5 - 1 2 , 0 7 2 - 1 2 , 0 9 7 - 2 4 , 2 7 6 Operating expenses - 5 2 , 0 7 7 - 5 0 , 2 4 0 - 9 9 , 7 8 2 - 1 0 1 , 4 3 4 - 1 9 2 , 3 6 8 Earnings before financial items, tax, depreciation, amortization and impairment 6 , 2 7 9 5 , 1 9 2 1 4 , 9 9 6 1 2 , 0 6 0 3 3 , 2 5 4 Depreciation, amortization and impairment 4 - 4 , 0 9 2 - 4 , 0 6 1 - 8 , 1 1 8 - 8 , 1 3 6 - 1 6 , 4 9 9 Earnings before financial items and tax 2 , 1 8 7 1 , 1 3 1 6 , 8 7 8 3 , 9 2 4 1 6 , 7 5 5 Fair value adjustments on investments in Labs 9.A 2 7 1 - 1 7 5 73 - 2 7 0 - 3 9 9 Share of result from associated companies 3 4 5 852 1 , 0 5 2 852 4 , 9 0 8 Other financial income 1 1 6 4 7 2 1 9 3 525 8 9 1 Other financial expenses 5 - 9 0 4 - 1 , 1 6 0 - 1 , 7 7 8 - 2 , 3 5 3 - 5 , 0 0 9 Result on foreign exchange 1 9 0 - 9 1 3 - 6 9 - 1 , 0 7 4 - 1 , 5 6 6 Financial result 18 - 9 2 4 - 5 2 9 - 2 , 3 2 0 - 1 , 1 7 5 Earnings before tax 2 , 2 0 5 207 6 , 3 4 9 1 , 6 0 4 1 5 , 5 8 0 Income tax expense - 1 , 6 4 3 - 1 0 0 - 2 , 1 4 7 - 5 8 2 - 3 , 7 2 0 Net income 562 107 4 , 2 0 2 1 , 0 2 2 1 1 , 8 6 0 Attributable to shareholders of Trifork Group AG 1 7 8 - 1 1 8 3 , 1 6 9 5 3 1 1 0 , 3 0 0 Attributable to non-controlling interests 3 8 4 225 1 , 0 3 3 4 9 1 1 , 5 6 0 Earnings per share of Trifork Group AG, basic (in EUR) 6 0.01 -0.01 0.16 0.03 0.53 Earnings per share of Trifork Group AG, diluted (in EUR) 6 0.01 -0.01 0.16 0.03 0.53
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22 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure Consolidated Interim Statement of Comprehensive Income for the three and six-month periods ended 30 June 2026 (in EURk) Q2/2026 Q2/2025 6M/2026 6M/2025 12M/2025 Net income 562 107 4 , 2 0 2 1,022 1 1 , 8 6 0 Items that may be reclassified to profit or loss, after tax Currency translation adjustment for foreign operations - 1 7 9 4 8 4 307 212 238 Currency translation adjustment reclassified to profit and loss - - - - - 1 Items that will not be reclassified to profit or loss, after tax Remeasurements of the net defined benefit liabilities - - 3 9 - 1 2 1 221 379 Other comprehensive income - 1 7 9 445 186 433 616 Total comprehensive income 383 552 4 , 3 8 8 1,455 1 2 , 4 7 6 Attributable to shareholders of Trifork Group AG 2 3 4 9 3,352 975 1 0 , 9 1 2 Attributable to non-controlling interests 3 8 1 203 1 , 0 3 6 4 8 0 1 , 5 6 4
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23 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure Consolidated Interim Statement of Financial Position as at 30 June 2026 Assets (in EURk) Notes 30/06/2026 31/12/2025 30/06/2025 Liabilities and shareholders' equity (in EURk) Notes 30/06/2026 31/12/2025 30/06/2025 Intangible assets 92,608 8 9 , 3 2 4 9 0 , 1 5 6 Share capital 1 , 6 6 3 1 , 6 6 3 1 , 6 6 3 Right-of-use assets 4 2 , 1 9 6 4 2 , 8 3 0 4 5 , 2 5 3 Treasury shares 7.B - 5 , 9 0 7 - 3 , 1 3 4 - 5 , 8 0 4 Property, plant and equipment 1 1 , 9 1 0 6 , 4 4 5 7,050 Retained earnings 1 4 5 , 0 1 8 1 4 3 , 4 9 5 1 3 4 , 0 9 5 Investments in Labs 9.A 6 9 , 4 8 1 6 8 , 1 9 0 77,970 Currency translation adjustments 3 , 4 6 0 3 , 1 5 3 3 , 1 2 8 Investments in associated companies 1 0 , 6 0 8 9 , 8 4 2 6,382 Equity attributable to shareholders of Trifork Group AG 1 4 4 , 2 3 4 1 4 5 , 1 7 7 1 3 3 , 0 8 2 Other non-current financial assets 5,789 5 , 0 8 4 5,553 Deferred tax assets 4 5 4 322 3 7 4 Non-controlling interests 639 850 800 Total non-current assets 2 3 3 , 0 4 6 2 2 2 , 0 3 7 2 3 2 , 7 3 8 Total shareholders' equity 1 4 4 , 8 7 3 1 4 6 , 0 2 7 1 3 3 , 8 8 2 Trade receivables 39,778 3 5 , 6 3 4 4 2 , 8 5 5 Non-current financial liabilities 8 5 7 , 2 4 8 6 1 , 5 4 0 7 3 , 0 6 1 Contract assets 9 , 0 4 3 8 , 6 1 8 1 0 , 3 9 3 Other non-current liabilities 3 , 4 5 4 3,222 3,353 Other current financial assets 1 5 3 3 1 5 - Deferred tax liabilities 3,805 3,989 4 , 4 4 0 Other current receivables 1 , 2 8 2 1 , 6 5 0 1 , 4 1 9 Total non-current liabilities 6 4 , 5 0 7 6 8 , 7 5 1 8 0 , 8 5 4 Current tax assets 4 9 9 3 1 9 576 Prepaid expenses 6,396 3,828 5 , 4 2 5 Current financial liabilities 8 7 0 , 2 4 4 62,863 69,895 Work in progress 5 4 1 2 1 8 687 Trade payables 9 , 8 4 2 6,593 1 2 , 7 9 6 Investments in Labs 9.A - 769 - Contract liabilities 9,009 1 0 , 7 2 6 8,337 Cash and cash equivalents 26,832 39,672 2 9 , 0 4 8 Current tax liabilities 4 , 1 2 7 2,339 1 , 4 9 9 Total current assets 8 4 , 5 2 4 9 1 , 0 2 3 9 0 , 4 0 3 Other current liabilities 1 4 , 9 6 8 1 5 , 7 6 1 1 5 , 8 7 8 Total current liabilities 1 0 8 , 1 9 0 9 8 , 2 8 2 1 0 8 , 4 0 5 Assets 3 1 7 , 5 7 0 3 1 3 , 0 6 0 3 2 3 , 1 4 1 Total liabilities 1 7 2 , 6 9 7 1 6 7 , 0 3 3 1 8 9 , 2 5 9 Total shareholders' equity and liabilities 3 1 7 , 5 7 0 3 1 3 , 0 6 0 3 2 3 , 1 4 1
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24 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure Consolidated Interim Statement of Changes in Shareholders' Equity for the six-month periods ended 30 June 2026 (in EURk) Share capital Treasury shares Retained earnings Currency translation adjustments Equity attributable to the shareholders of Trifork Group AG Non-controlling interests Total equity 1 January 2025 1 , 6 6 3 - 5 , 9 5 7 1 3 5 , 1 4 3 2 , 9 4 1 1 3 3 , 7 9 0 1 , 0 3 4 1 3 4 , 8 2 4 Net income - - 5 3 1 - 531 4 9 1 1 , 0 2 2 Other comprehensive income - - 1 8 8 256 444 - 1 1 433 Total comprehensive income - - 719 256 975 480 1 , 4 5 5 Capital increase in Group companies - - - 1 0 - - 1 0 1 0 - Dividends - - - - - - 1 , 6 1 3 - 1 , 6 1 3 Transactions with treasury shares - - 1 , 6 0 3 - - - 1 , 6 0 3 - - 1 , 6 0 3 Changes in liabilities towards non-controlling interests - - - 8 2 0 - 6 9 - 8 8 9 889 - Share-based payments - 1 , 7 5 6 - 9 3 7 - 819 - 819 30 June 2025 1 , 6 6 3 - 5 , 8 0 4 1 3 4 , 0 9 5 3 , 1 2 8 1 3 3 , 0 8 2 800 1 3 3 , 8 8 2 1 January 2026 1 , 6 6 3 - 3 , 1 3 4 1 4 3 , 4 9 5 3 , 1 5 3 1 4 5 , 1 7 7 850 1 4 6 , 0 2 7 Net income - - 3 , 1 6 9 - 3 , 1 6 9 1 , 0 3 3 4 , 2 0 2 Other comprehensive income - - - 1 0 5 288 183 3 186 Total comprehensive income - - 3 , 0 6 4 288 3 , 3 5 2 1 , 0 3 6 4 , 3 8 8 Capital increase in Group companies - - - 9 - - 9 9 - Dividends - - - - - - 1 , 4 3 9 - 1 , 4 3 9 Transactions with treasury shares - - 4 , 3 3 7 - 2 0 - - 4 , 3 5 7 - - 4 , 3 5 7 Changes in liabilities towards non-controlling interests - - - 5 7 6 1 9 - 5 5 7 202 - 3 5 5 Share-based payments - 1 , 5 6 4 - 9 3 6 - 628 - 1 9 609 30 June 2026 1 , 6 6 3 - 5 , 9 0 7 1 4 5 , 0 1 8 3 , 4 6 0 1 4 4 , 2 3 4 639 1 4 4 , 8 7 3
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25 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure Consolidated Interim Statement of Cash Flows for the three and six-month periods ended 30 June 2026 1 During the review of dividends received, reclassifications were made to ensure uniformity of disclosures. (in EURk) Notes Q2/2026 Q2/2025 6M/2026 6M/2025 12M/2025 Net income 562 107 4 , 2 0 2 1 , 0 2 2 1 1 , 8 6 0 Adjustments for: Depreciation, amortization and impairment 4 4 , 0 9 2 4 , 0 6 1 8 , 1 1 8 8 , 1 3 6 1 6 , 4 9 9 Non-cash other operating income - 2 1 - 2 1 5 - 1 5 2 - 6 2 5 - 8 3 8 Fair value adjustment from investments in Labs 9.A - 2 7 1 1 7 5 - 7 3 270 399 Share of result from associated companies - 3 4 5 - 8 5 2 - 1 , 0 5 2 - 8 5 2 - 4 , 9 0 8 Other financial result 598 1 , 6 0 1 1 , 6 5 4 2,902 5 , 6 8 4 Income taxes 1 , 6 4 3 1 0 0 2 , 1 4 7 582 3,720 Other non-cash items 2 1 6 4 7 0 595 973 - 1 , 4 9 3 Changes in net working capital - 3 , 4 6 4 - 4 , 0 4 1 - 6 , 0 8 6 - 3 , 8 4 1 4 , 0 9 7 Income taxes paid/reimbursement received - 7 7 7 - 2 6 4 - 1 , 0 3 2 - 1 7 8 - 2 , 4 5 4 Cash flow from operating activities 2 , 2 3 3 1 , 1 4 2 8 , 3 2 1 8 , 3 8 9 3 2 , 5 6 6 Acquisition of Group companies, net of cash acquired - 1 , 0 6 2 - - 1 , 0 6 2 - - Acquisition of Group companies, settlement of contingent consideration 9.B - - 6 9 0 - 4 0 2 - 1 , 0 9 2 - 1 , 0 9 2 Disposal / loss of control of a Group company, net of cash disposed - - - - 3 9 7 Purchase of intangible assets - 1 , 0 7 1 - 9 2 4 - 1 , 8 1 7 - 1 , 4 1 3 - 3 , 6 2 7 Purchase of property, plant and equipment - 3 , 1 6 5 - 3 8 7 - 6 , 6 3 0 - 7 3 0 - 1 , 5 9 5 Sale of property, plant and equipment 27 1 , 5 6 0 3 4 3 , 3 1 3 3 , 5 5 4 Dividends received from associates companies 1 - 590 - 590 590 Purchase of investments in Labs 9.A - 1 , 2 6 5 - 1 , 0 6 0 - 1 , 2 6 5 - 1 , 0 6 0 - 3 , 2 2 8 Sale of investments in Labs 9.A - 6 1 777 6,638 1 9 , 7 3 0 Dividends received from investments in Labs 9.A 5 4 1 1 2 5 4 397 5531 Investment in financial assets - 3 4 8 - 6 5 3 - 6 3 3 - 8 3 7 - 9 6 7 Proceeds from financial assets 4 7 - 220 2 206 Interest received 4 97 1 1 1 1 8 1 2 7 Cash flow from investing activities - 6 , 7 7 9 - 1 , 2 9 4 - 1 0 , 7 1 3 5 , 9 2 6 1 3 , 8 5 4
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26 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure Consolidated Interim Cash Flow Statement (continued) for the three and six-month periods ended 30 June 2026 (in EURk) Notes Q2/2026 Q2/2025 6M/2026 6M/2025 12M/2025 Proceeds from borrowings 1 4 , 4 6 5 8,086 1 4 , 4 6 5 8,086 8,086 Repayment of borrowings - 7 , 4 2 2 - 6 , 2 3 9 - 1 0 , 3 2 9 - 1 1 , 5 5 2 - 2 5 , 1 6 0 Payment of lease liabilities - 2 , 0 9 8 - 2 , 0 3 3 - 4 , 0 8 6 - 4 , 1 1 5 - 8 , 0 0 8 Interest paid - 7 4 8 - 1 , 2 1 4 - 1 , 6 2 3 - 2 , 4 3 6 - 4 , 7 0 3 Acquisition of non-controlling interests 7.A - 3 , 2 6 1 - - 3 , 2 6 1 - - 1 , 5 3 5 Purchase of treasury shares 7.B - 2 , 0 1 7 - 1 , 1 0 9 - 4 , 4 2 4 - 1 , 6 0 3 - 1 , 7 2 1 Sale of treasury shares 7.B - - 70 - - Dividends paid - 4 6 2 - 8 0 9 - 1 , 4 3 9 - 1 , 6 1 3 - 1 , 6 7 0 Cash flow from financing activities - 1 , 5 4 3 - 3 , 3 1 8 - 1 0 , 6 2 7 - 1 3 , 2 3 3 - 3 4 , 7 1 1 Exchange differences on cash and cash equivalents 1 6 - 9 6 1 7 9 - 2 4 8 - 2 5 1 Change in cash and cash equivalents - 6 , 0 7 3 - 3 , 5 6 6 - 1 2 , 8 4 0 834 1 1 , 4 5 8 Cash and cash equivalents at the beginning of the period 32,905 3 2 , 6 1 4 39,672 2 8 , 2 1 4 2 8 , 2 1 4 Cash and cash equivalents at the end of the period 2 6 , 8 3 2 2 9 , 0 4 8 2 6 , 8 3 2 2 9 , 0 4 8 3 9 , 6 7 2
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27 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure Contents Notes to the Consolidated Interim Financial Statements I General information ............................................................................................................... 28 II Basis of preparation and changes in accounting policies ............................................... 28 III Seasonality of the business .................................................................................................. 29 IV Management estimates, assumptions and judgments ................................................... 29 V Changes in the scope of consolidation .............................................................................. 29 1 Segment information ............................................................................................................. 30 2 Revenue from contracts with customers ............................................................................ 32 3 Other operating expenses ..................................................................................................... 32 4 Depreciation, amortization and impairment ...................................................................... 32 5 Other financial expenses ....................................................................................................... 32 6 Earnings per share ................................................................................................................. 33 7 Shareholders' equity ............................................................................................................. 33 8 Financial liabilities .................................................................................................................. 34 9 Financial instruments through profit and loss .................................................................... 34 10 Events after the reporting period ......................................................................................... 35 27
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28 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure Notes Notes to the Consolidated Interim Financial Statements I. General information Trifork Group AG (“the Company”) is a company incorporated in Switzerland with its registered offices at Neuhofstrasse 10, 8834 Schindellegi (Feusisberg). The Company is the parent company of Trifork Group (“Group”). The consolidated interim financial statements are presented in Euro and all amounts are in thousand (EURk), unless otherwise stated. Due to rounding, numbers presented throughout this report may not add up precisely to the to - tals and percentages may not precisely reflect the absolute figures. The registered shares of the Company are trad - ed at NASDAQ Copenhagen (TRIFOR). II. Basis of preparation and changes in accounting policies A. Basis of preparation The consolidated interim financial statements for the three and six-month periods ending 30 June 2026 have been prepared in accordance with IAS 34 Interim Financial Reporting. The consolidated interim financial statements do not include all the information and disclo - sures required in the annual financial state - ments and should be read in conjunction with the Group’s annual financial statements as of 31 December 2025. B. Changes in accounting policies The accounting policies applied in the con - solidated interim financial statements are consistent with the consolidation and measure - ment principles disclosed in the consolidated financial statements 2025. Minor changes in IFRS became effective as of 1 January 2026 but are not relevant for the Group or did not have an impact on these financial statements. C. Translation of foreign operations The following exchange rates are used for the translation into EUR for the Group’s most rele - vant currencies: Exchange rates at period end Average exchange rates for the period Unit 30/06/2026 31/12/2025 30/06/2025 6M/2026 12M/2025 6M/2025 DKK 1 0.1338 0.1339 0.1340 0.1338 0.1340 0.1340 CHF 1 1.0841 1.0737 1.0699 1.0895 1.0672 1.0624 GBP 1 1.1604 1.1460 1.1689 1.1531 1.1678 1.1873 USD 1 0.8777 0.8511 0.8532 0.8570 0.8871 0.9164
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29 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure Notes III. Seasonality of the business The Products segment focuses on product de- liveries to customers. Trifork Group expects here - beside the generally anticipated growth of the segment - an ongoing delivery, including rather order driven than seasonal effects (e.g. new or- ders may be placed at any point in time and no seasonal patterns are observed). However and with regard to installations, to a certain limit, a seasonal effect can be observed as holiday and vacation season limit revenues and profitability in the second and third quarter (identical to the Services segment). Further, the Products segment also includes revenues from conferences, that are not evenly split over the year. Whereas the first and third quarter see low conference activities, the second (YOW! Tech Leaders Summits, Lambda days) and the fourth quarter (GOTO Copen - hagen, YOW! Conferences, Code Beam series) drive the revenue. The Services segment is the largest in Trifork Group. The main source for revenue in this segment is the hours invested in customer product development. Most often, the first and last quarter of the year will contribute more to revenue and profit, due to a higher amount of personnel absences (holidays and summer vacation) in the second and third quarter of the year. Therefore, seasonal effects must be considered when forming expectations for the full financial year. IV. Management estimates, assumptions and judgments The preparation of the consolidated interim financial statements requires management to make estimates, assumptions and judgments that affect the reported amounts of assets and liabilities, and the disclosure of contingent liabilities, at the end of the reporting period and the amount of income and expenses during the reporting period. If these estimates, assumptions and judgments – made by management to the best of their knowledge as of the reporting date – prove to differ significantly from the actual circumstanc - es at a later point in time, the original estimates, assumptions and judgments are adjusted in the reporting period in which the circumstances change. Reference is made to Note 1.3 of the Group’s financial statements 2025 for a more detailed description of the accounts, where significant management estimates, assumptions and judgments primarily are used. No significant changes in estimates occurred in the period to 30 June 2026. Refer to Note 9 for information on adjustments to fair values of investments in Labs and contin - gent consideration liabilities. V. Changes in the scope of consolidation VION AI GMBH As per end of April 2026, the Group acquired control (100% of share capital) of VION AI GmbH, Berlin (“VION AI”). The purchase price allocation is not final as of 30 June 2026. The provisionally assessed fair values of assets identified and liabilities as - sumed as at acquisition date are as follows: (in EURk) VION AI Intangible assets 626 Property, plant and equipment 1 Trade receivables 9 Cash and cash equivalents 99 Other current assets 13 Deferred tax liabilities -189 Other non-current liabilities -69 Current liabilities -53 Net assets acquired, attributable to shareholders of Trifork Group AG 437 Goodwill 3,363 Purchase price 3,800 of which contingent consideration 2,639 of which cash consideration 1,161 Cash and cash equivalents acquired -99 Net outflow of cash and cash equivalents 1,062 Development projects of EURk 525 and custom - er relationships of EURk 101 have been recog - nized as intangible assets and are amortized over an estimated useful life of 5 years. Goodwill of EURk 3,363 represents the expertise of VION AI in its specific field of action in aviation and assumed synergies and is not tax deductible. The contingent consideration amounts to 10% of the VION AI revenues in the years 2027, 2028, 2029 without a cap. Based on business planning for the product, Trifork Group assess the amount to EURk 2,639, applying a discount rate of 4.1%. In the first six months 2026, VION AI contributed revenue of EURk 18 and earnings before tax of EURk -1 to Trifork Group. If the acquisition had taken place on 1 January 2026, the total revenue of the Trifork Group would have been EURk 35 higher and the earnings before tax for the peri - od would have decreased by EURk 554. Transaction costs (external lawyer costs) relat - ed to the acquisition amount to EURk 14 and are included in other operating expenses.
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30 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure Notes 1 NOTE 1 Segment information The business and operations of the Trifork Group comprise of the four main segments, Products, Services, Labs and other. Their results are reported to the Executive Management (Chief operating decision maker) for perfor - mance measurement and resource allocation and represent operating segments. The results of the segments are monitored by the Executive Management at the level of earn - ings before financial items, taxes, depreciation and amortization (Products, Services and other) and of EBT (Labs). PRODUCTS These activities of Trifork Group comprise main - ly the following: Licensing of self-developed software products Operating of software products and provid - ing hosting services Software developer conferences SERVICES The “Services” activities include the devel- opment of innovative software in customer projects (private and public). Q2/2026 (in EURk) Products Services Labs Other Elimination Total Revenue - from external customers 2 1 , 5 1 6 36,672 - 1 4 - 58,202 - from other segments - - - 5 2 4 - 5 2 4 - Total segment revenue 2 1 , 5 1 6 3 6 , 6 7 2 - 538 - 5 2 4 5 8 , 2 0 2 Earnings before financial items, tax, depreciation and amortization 4 , 3 4 0 3 , 8 0 0 - 5 2 6 - 1 , 3 3 5 - 6 , 2 7 9 Depreciation and amortization - 1 , 5 3 9 - 2 , 2 4 7 - - 3 0 6 - - 4 , 0 9 2 Earnings before financial items and tax 2 , 8 0 1 1 , 5 5 3 - 5 2 6 - 1 , 6 4 1 - 2 , 1 8 7 Financial result - - 733 - 7 1 5 - 1 8 Earnings before tax (EBT) 2 , 8 0 1 1 , 5 5 3 207 - 2 , 3 5 6 - 2 , 2 0 5 Other segment information Cost of goods and services purchased - 7 , 5 9 7 - 5 , 6 0 4 - - 2 8 4 - - 1 3 , 4 8 5 Personnel costs - 7 , 3 2 9 - 2 1 , 9 4 1 - - 2 , 8 7 3 - - 3 2 , 1 4 3 Average number of employees 225 787 2 104 - 1 , 1 1 8 Q2/2025 (in EURk) Products Services Labs Other Elimination Total Revenue - from external customers 20,738 3 4 , 3 4 4 - 1 9 - 5 5 , 1 0 1 - from other segments - - - 520 - 5 2 0 - Total segment revenue 2 0 , 7 3 8 3 4 , 3 4 4 - 539 - 5 2 0 5 5 , 1 0 1 Earnings before financial items, tax, depreciation and amortization 3 , 2 8 7 3 , 1 2 5 - 5 2 3 - 6 9 7 - 5 , 1 9 2 Depreciation and amortization - 1 , 5 1 7 - 2 , 2 0 4 - - 3 4 0 - - 4 , 0 6 1 Earnings before financial items and tax 1 , 7 7 0 921 - 5 2 3 - 1 , 0 3 7 - 1 , 1 3 1 Financial result - - 387 - 1 , 3 1 1 - - 9 2 4 Earnings before tax (EBT) 1 , 7 7 0 921 - 1 3 6 - 2 , 3 4 8 - 207 Other segment information Cost of goods and services purchased - 7 , 8 7 1 - 5 , 0 6 6 - - 7 0 - - 1 3 , 0 0 7 Personnel costs - 7 , 3 1 2 - 2 1 , 1 3 1 - - 2 , 5 1 5 - - 3 0 , 9 5 8 Average number of employees 252 779 2 89 - 1 , 1 2 2
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31 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure Note 1 NOTE 1 Segment information (continued) LABS Labs is focused on founding new tech start - ups and investing in selected tech companies that are at the forefront of the technological development with new and innovative software products. For internal management reporting and perfor - mance measurement, all Labs investments are monitored on a fair value basis with changes recognized in profit or loss and thus presented as such in the segment reporting. OTHER Other comprises mainly general corporate activities and costs not allocated to Products, Services or Labs. The segments of Trifork Group were restructured in the fourth quarter 2025. The comparative information was adjusted accordingly. 6M/2025 (in EURk) Products Services Labs Other Elimination Total Revenue - from external customers 39,925 72,636 - 28 - 1 1 2 , 5 8 9 - from other segments - - - 1 , 0 2 4 - 1 , 0 2 4 - Total segment revenue 3 9 , 9 2 5 7 2 , 6 3 6 - 1 , 0 5 2 - 1 , 0 2 4 1 1 2 , 5 8 9 Earnings before financial items, tax, depreciation and amortization 5 , 2 8 2 8 , 9 3 0 - 1 , 0 3 0 - 1 , 1 2 2 - 1 2 , 0 6 0 Depreciation and amortization - 2 , 9 9 1 - 4 , 4 5 5 - - 6 9 0 - - 8 , 1 3 6 Earnings before financial items and tax 2 , 2 9 1 4 , 4 7 5 - 1 , 0 3 0 - 1 , 8 1 2 - 3 , 9 2 4 Financial result - - 398 - 2 , 7 1 8 - 2 , 3 2 0 Earnings before tax (EBT) 2 , 2 9 1 4 , 4 7 5 - 6 3 2 - 4 , 5 3 0 - 1 , 6 0 4 Other segment information Cost of goods and services purchased - 1 5 , 5 8 7 - 9 , 8 2 2 - - 1 3 6 - - 2 5 , 5 4 5 Personnel costs - 1 4 , 5 2 8 - 4 3 , 9 6 7 - - 5 , 2 9 7 - - 6 3 , 7 9 2 Average number of employees 250 793 2 90 - 1 , 1 3 5 6M/2026 (in EURk) Products Services Labs Other Elimination Total Revenue - from external customers 3 8 , 7 7 4 75,525 - 28 - 1 1 4 , 3 2 7 - from other segments - - - 1 , 0 5 0 - 1 , 0 5 0 - Total segment revenue 3 8 , 7 7 4 7 5 , 5 2 5 - 1 , 0 7 8 - 1 , 0 5 0 1 1 4 , 3 2 7 Earnings before financial items, tax, depreciation and amortization 9 , 0 2 5 9 , 3 4 1 - 1 , 0 6 1 - 2 , 3 0 9 - 1 4 , 9 9 6 Depreciation and amortization - 3 , 2 0 5 - 4 , 2 6 5 - - 6 4 8 - - 8 , 1 1 8 Earnings before financial items and tax 5 , 8 2 0 5 , 0 7 6 - 1 , 0 6 1 - 2 , 9 5 7 - 6 , 8 7 8 Financial result - - 6 3 1 - 1 , 1 6 0 - 5 2 9 Earnings before tax (EBT) 5 , 8 2 0 5 , 0 7 6 - 4 3 0 - 4 , 1 1 7 - 6 , 3 4 9 Other segment information Cost of goods and services purchased - 1 1 , 4 4 6 - 1 1 , 2 9 8 - - 4 5 4 - - 2 3 , 1 9 8 Personnel costs - 1 4 , 1 4 8 - 4 4 , 8 2 3 - - 5 , 5 4 1 - - 6 4 , 5 1 2 Average number of employees 227 784 2 102 - 1 , 1 1 5
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32 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure Notes 2-5 NOTE 2 Revenue from contracts with customers A. Revenue streams (in EURk) Q2/2026 Q2/2025 6M/2026 6M/2025 Products: 21,516 20,738 3 8 , 7 7 4 39,925 - Licenses, hosting and support 14,830 13,704 30,770 27,452 - Conferences 1,682 1,423 2,402 2,123 - Hardware 5,004 5,611 5,602 10,350 Services 36,672 3 4 , 3 4 4 75,525 72,636 Other 1 4 1 9 28 28 Total revenue from contracts with customers 5 8 , 2 0 2 5 5 , 1 0 1 1 1 4 , 3 2 7 1 1 2 , 5 8 9 B. Revenue by geographical area (in EUR k) Q2/2026 Q2/2025 6M/2026 6M/2025 Denmark 4 4 , 0 0 5 3 6 , 7 4 2 85,367 78,506 Switzerland 4 , 3 0 6 4 , 6 6 0 8 , 4 7 8 8 , 9 1 7 USA 1 , 8 6 0 2 , 5 1 4 5 , 4 6 0 6,990 Netherlands 1 , 8 6 4 1 , 5 1 9 3,596 3,327 UK 1 , 8 6 8 2,025 3 , 3 4 7 3 , 5 8 1 Other 4 , 2 9 9 7 , 6 4 1 8,079 1 1 , 2 6 8 Total revenue from contracts with customers 5 8 , 2 0 2 5 5 , 1 0 1 1 1 4 , 3 2 7 1 1 2 , 5 8 9 C. Revenue by sectors (in EURk) Q2/2026 Q2/2025 6M/2026 6M/2025 Private 2 9 , 3 1 1 3 3 , 4 3 1 6 0 , 4 1 3 6 7 , 8 5 4 Public 2 8 , 8 9 1 2 1 , 6 7 0 5 3 , 9 1 4 4 4 , 7 3 5 Total revenue from contracts with customers 5 8 , 2 0 2 5 5 , 1 0 1 1 1 4 , 3 2 7 1 1 2 , 5 8 9 D. Timing of revenue recognition (in EURk) Q2/2026 Q2/2025 6M/2026 6M/2025 Goods and services transferred at a point in time 5 , 6 4 8 4 , 5 9 3 6 , 8 1 4 9,709 Services transferred over time 5 2 , 5 5 4 50,508 1 0 7 , 5 1 3 1 0 2 , 8 8 0 Total revenue from contracts with customers 5 8 , 2 0 2 5 5 , 1 0 1 1 1 4 , 3 2 7 1 1 2 , 5 8 9 NOTE 3 Other operating expenses (in EURk) Q2/2026 Q2/2025 6M/2026 6M/2025 Sales and marketing expenses - 8 6 5 - 8 6 0 - 1 , 3 8 9 - 1 , 4 7 0 Service cost for leased property - 8 3 7 - 1 , 2 5 4 - 1 , 9 0 5 - 2 , 6 1 4 Administration expenses - 4 , 7 4 6 - 4 , 1 5 7 - 8 , 7 7 5 - 7 , 9 9 7 Others - 1 - 4 - 3 - 1 6 Total other operating expenses - 6 , 4 4 9 - 6 , 2 7 5 - 1 2 , 0 7 2 - 1 2 , 0 9 7 NOTE 4 Depreciation, amortization and impairment (in EURk) Q2/2026 Q2/2025 6M/2026 6M/2025 Depreciation of property, plant and equipment - 5 6 2 - 6 4 1 - 1 , 1 6 0 - 1 , 2 5 6 Depreciation of right-of-use assets - 2 , 1 7 1 - 2 , 1 0 6 - 4 , 2 4 3 - 4 , 2 7 9 Amortization of intangible assets - 1 , 3 5 9 - 1 , 3 1 4 - 2 , 7 1 5 - 2 , 6 0 1 Total depreciation, amortization and impairment - 4 , 0 9 2 - 4 , 0 6 1 - 8 , 1 1 8 - 8 , 1 3 6 NOTE 5 Other financial expenses (in EURk) Q2/2026 Q2/2025 6M/2026 6M/2025 Interest expenses - 9 0 3 - 1 , 1 6 0 - 1 , 7 7 2 - 2 , 3 4 9 - of which lease interest -556 -617 -1,115 -1,268 - of which net interest for defined benefit plans -4 -4 -8 -8 Impairment loss on other financial assets - 1 - - 6 - 4 Total other financial expenses - 9 0 4 - 1 , 1 6 0 - 1 , 7 7 8 - 2 , 3 5 3
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33 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure Notes 6-7 NOTE 6 Earnings per share (in EURk) Q2/2026 Q2/2025 6M/2026 6M/2025 Net income attributable to the shareholders of Trifork Group AG 178 - 1 1 8 3 , 1 6 9 531 Weighted average number of shares issued 1 9 , 7 4 4 , 8 9 9 1 9 , 7 4 4 , 8 9 9 1 9 , 7 4 4 , 8 9 9 1 9 , 7 4 4 , 8 9 9 Weighted average number of treasury shares - 3 9 7 , 1 7 4 - 3 2 4 , 3 9 3 - 3 4 7 , 4 5 6 - 3 1 5 , 1 8 3 Number of shares used for calculating basic earnings per share 1 9 , 3 4 7 , 7 2 5 1 9 , 4 2 0 , 5 0 6 1 9 , 3 9 7 , 4 4 3 1 9 , 4 2 9 , 7 1 6 Average number of shares from outstanding RSU 1 3 2 , 7 5 7 - 1 4 9 , 1 2 1 1 7 9 , 1 9 8 Number of shares used for calculating diluted earnings per share 1 9 , 4 8 0 , 4 8 2 1 9 , 4 2 0 , 5 0 6 1 9 , 5 4 6 , 5 6 4 1 9 , 6 0 8 , 9 1 4 Earnings per share of Trifork Group AG, basic (in EUR) 0.01 - 0 . 0 1 0.16 0.03 Earnings per share of Trifork Group AG, diluted (in EUR) 0.01 - 0 . 0 1 0.16 0.03 Due to the net loss recognized in Q2/2025, 174.094 shares from outstanding RSU were excluded from the diluted earnings per share calculation, as the effect would have been antidilutive. NOTE 7 Shareholders’ equity A. Non-controlling interests Trifork Group acquired 3.7% of the shares in Nine A/S for EURk 3,261 as a minority shareholder executed its put-option. The total shareholding in the company is at 93.7%. In the first six months 2026, the Trifork Group remunerated employees in shares of a Group company which slightly increased the non-controlling interests by EURk 9 (6M/2025: EURk 10). B. Transactions with treasury shares Number of shares Total amount (in EURk) 1 January 2025 3 1 2 , 3 8 3 5 , 9 5 7 Acquisitions 1 3 3 , 5 2 4 1 , 6 0 3 Conversion of RSU - 7 2 , 9 8 2 - 1 , 5 6 1 Salary paid in treasury shares - 9 , 1 1 7 - 1 9 5 30 June 2025 3 6 3 , 8 0 8 5 , 8 0 4 1 January 2026 2 2 9 , 4 3 5 3 , 1 3 4 Acquisitions 369,383 4 , 4 2 7 Disposal - 5 , 5 7 0 - 9 0 Conversion of RSU - 9 0 , 3 7 5 - 1 , 3 9 6 Salary paid in treasury shares - 1 1 , 2 0 7 - 1 6 8 30 June 2026 4 9 1 , 6 6 6 5 , 9 0 7 Trifork Group initiated a share buy-back program of up to EURm 10.0 starting from 2 March 2026. In the first six months 2026, 222,699 shares for EURk 2,652 were acquired under the program. Trifork Group conducted a share buy-back program from 23 December 2025 to 26 February 2026. In the first quarter 2026, 146,684 shares for EURk 1,775 were acquired under the program. Trifork Group conducted a share buy-back pro - gram from 4 March to 30 June 2025. In the first six months 2025, 133,524 shares for EURk 1,603 were acquired under the program. For the period 1 January – 30 June 2026, the impact of the transactions with treasury shares (excl. treasury shares utilized for employee remuneration) in retained earnings is EURk -20 (1 January – 30 June 2025: EURk 0).
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34 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure Notes 8-9 NOTE 8 Financial liabilities (in EURk) 30/06/2026 31/12/2025 Borrowings from financial institutions 6 1 , 6 1 7 57,259 Lease liabilities 4 5 , 3 1 6 4 5 , 9 1 6 Others 323 357 Financial liabilities related to financing activities 1 0 7 , 2 5 6 1 0 3 , 5 3 2 Contingent considerations 4 , 5 4 0 2,295 Redemption amount of put-options 1 5 , 6 9 6 1 8 , 5 7 6 Financial liabilities related to business combination and acquisition of non-controlling interests 2 0 , 2 3 6 2 0 , 8 7 1 Total financial liabilities, as presented in the statement of financial position 1 2 7 , 4 9 2 1 2 4 , 4 0 3 - of which non-current 5 7 , 2 4 8 6 1 , 5 4 0 - of which current 7 0 , 2 4 4 62,863 For further details on contingent consideration liabilities, refer to Note 9.B. For additional details on the redemption amount of put-options, refer to Note 7.A. NOTE 9 Financial instruments through profit and loss A. Investments in Labs (in EURk) 2026 2025 Level 3 Level 1 Level 3 Total 1 January 6 8 , 9 5 9 52 8 4 , 1 7 8 8 4 , 2 3 0 Acquisitions 1 , 2 6 5 - 1 , 6 2 2 1 , 6 2 2 Disposals - 7 7 7 - 6 1 - 6 , 5 7 7 - 6 , 6 3 8 Fair value adjustments 73 9 - 2 7 9 - 2 7 0 Dividends received - 5 4 - - 9 8 7 - 9 8 7 Exchange differences 1 5 - 1 3 1 3 30 June 6 9 , 4 8 1 - 7 7 , 9 7 0 7 7 , 9 7 0 6M/2026 Acquisitions: Additional shares in Replik A/S Disposal: Proceeds from its partial sale of its investment in XCI Holding A/S for EURk 777 Net fair value adjustments (Level 3): Dilution effect from financing round (EURk -630), up- dated business plans (EURk -39), valuations by third-parties (EURk 377), dividend income (EURk 54) and foreign exchange conversion of investments held in other currencies (EURk 311) Dividends: Ordinary dividend from one investment 6M/2025 Acquisitions: Additional investments within internal financing rounds in AxonIQ B.V., Dawn Holding ApS and ExSeed Ltd., of which EURk 1,060 in cash and EURk 562 by conversion of convertible loans. Disposal: Proceeds from its partial sale of its investment in XCI Holding A/S for EURk 6,577 and sale of shares held in Implantica AG. Fair value adjustments (Level 3): Dilution ef- fect from financing round (EURk -402), updat- ed business plans (EURk 119), dividend income (EURk 987) and foreign exchange conversion of investments held in other currencies (EURk -983) Dividends: Ordinary dividends from two investments The fair value of Level 3 investments is derived from DCF-valuation models or recent transac - tions (new capital investments by third parties). There were no transfers between fair value measurements levels in 2026 and 2025 and the entire Level 1 investment was disposed of in 2025. The maximum values at risk for Trifork Labs are the total amounts of the individual investments.
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35 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure Notes 9-10 NOTE 9 Financial instruments through profit and loss (continued) B. Contingent considerations related to business combinations - Level 3 (in EURk) 2026 2025 1 January 2 , 2 9 5 4 , 1 1 7 Additions from business combinations 2,639 - Settlements - 4 0 2 - 1 , 0 9 2 Fair value adjustments - - 3 5 2 Exchange differences 8 - 7 9 30 June 4 , 5 4 0 2 , 5 9 4 As of 30 June 2026, the liability consists of contingent considerations related to earn-out payments for the acquisitions of VION AI GmbH, Sapere Group, Chapter 5 A/S and Spantree Technology Group LLC (2025: Sapere Group, Chapter 5 A/S and Spantree Technology Group LLC). Earn-out payments become due to the sellers if the acquired companies meet operational targets (revenue, EBITDA, EBIT and/or customer retention) in the periods (usually three years) subsequent to change of control. As the contingent consideration for the earn- out payments for the acquisition of VION AI GmbH is not capped (refer to Note. V.), the maximum amount of the remaining earn-out payments cannot be quantified. Considering business planning, Trifork Group expects a cash outflow of EURk 4,881 in the upcoming periods (undiscounted amount). For the operational results achieved in 2025, Trifork Group paid out earn-outs of EURk 402 in 2026 (2025: EURk 1,092). NOTE 10 Events after the reporting period With signing as of 16 July 2026, Trifork Group partially divests of Labs investments for a total cash amount of EURm 22.8, of which EURm 16.0 are expected to be received in Q3/2026, and EUR m 6.8 are expected to be paid at a later date based on the timing of subsequent exit proceeds. Closing of the transaction is anticipated in the third quarter 2026. Subject successful closing and as part for the inflowing cash, the Board of Directors intends to propose an extraordinary dividend of EUR 0.4/ share. The Q2 & 6M/2026 consolidated interim financial statements were reviewed by the Audit & Risk Committee on 14 August 2026 and approved and released for publication by the Board of Directors on 17 August 2026.
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36 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure Ratios and Key Figures The financial highlights have been prepared on the basis of the CFA Society Denmark “Recommendations & Financial Ratios”, using the following definitions: EBITDA margin EBIT margin Free cash flow Equity ratio Return on equity Diluted earnings per share (EPS diluted) Cash conversion1 Earnings before financial items, taxes, depreciation and amortization x 100 Revenue Earnings before financial items and taxes x 100 Revenue Cash flow from operations Capex Equity excl. NCI x 100 Total assets Net income excl. NCI x 100 Average equity excl. NCI Net income excl. NCI Average number of shares diluted Cash flow from operations Earnings before financial items, taxes, depreciation and amortization 1 Please notice that tax payments are included in the cash flow from operations whereas EBITDA does not include tax payments. In average over time the cash conversion ratio will thus be below 100%.
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Structure Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure
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38 Q2 & 6M2026 • Key Figures Financial Review Financial Statements Structure 100.0% 100.0% 100.0% Trifork A/S Duckwise ApS Strongminds ApS 100.0% Chapter 5 A/S 100.0% CodeNode ApS 88.0% Netic A/S 93.7% Nine A/S 81.4% Testhuset A/S 100.0% Trifork Digital Health A/S 100.0% Trifork Smart Enterprise A/S 50.1% SAPBasis ApS 77.4% Sapere Group ApS 61.0% Sapere Advisory ApS 60.0% IBE AG 50.0% Sundhedspartneren ApS 100.0% Trifork AG 100.0% Vilea Austria GmbH 100.0% Erlang Solutions Ltd. 100.0% Erlang Solutions Hungary /C164ft. 100.0% Erlang Solutions AB 100.0% Erlang Solutions Inc. 100.0% Erlang Solutions SP 100.0% Trifork Ltd. 100.0% Code Node Ltd. 100.0% Trifork B.V 100.0% The Perfect App Ltd. 100.0% Trifork Eindhoven B.V 100.0% Trifork Academy Inc. 95.0% Trifork US Inc. 70.0% Spantree Technology Group LLC 100.0% Trifork Canada Inc. 100.0% Trifork Academy and Software Solutions SL 95.0% Trifork Portugal LDA 100.0% Trifork Academy Pty Ltd. 100.0% Trifork SPC 100.0% Trifork Germany GmbH 100.0% VI/C18LN AI GmbH Trifork Group AG 100.0% Trifork Labs AG 100.0% Trifork Labs ApS 25.0% &Money ApS 14.3% Bluespace Ventures AG 41.0% Appdictive ApS 15.0% Frameo ApS 44.4% Arkyn Studios Ltd. 18.4% A/C261onI/C26B B.V 9.8% C4Media Inc. 24.0% Dawn Holding ApS 40.0% Develco A/S 21.0% Dryp A/S 26.7% E/C261Seed Ltd. 13.8% Fauna ApS 49.0% Grantet ApS 48.5% Mirage Insights AG 5.4% Promon A/S 20.0% Replik A/S 22.4% Coco Care ApS 48.9% SIA Connect ApS 49.9% TSB X ApS 18.8% TSBone ApS 35.7% TSBThree ApS 22.7% Upcycling Forum ApS 28.0% Visikon ApS 41.5% Wingmen Security A/S 5.0% X CI Holding A/S Trifork subsidiary Trifork associated Trifork Labs subsidiary Trifork Labs investment (fully impaired investments are excluded)
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TRIFORK GROUP AG Neuhofstrasse 10 8834 Schindellegi Switzerland CHE-474.101.854 Denmark Aalborg Aarhus Copenhagen Esbjerg Switzerland Schindellegi Zurich The Netherlands Amsterdam Eindhoven Germany Berlin Hamburg Austria Vienna Spain Palma Barcelona Hungary Budapest Portugal Lisbon Sweden Stockholm Poland Krakow United Kingdom London Latvia Riga Canada Toronto United States Chicago Palo Alto Seattle Australia Brisbane Oman Muscat