Slides
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1 PRESENTATION OF H1 2026 REPORT
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2 D I SCL A I MER Forward-looking statements Certain information set forth in this presentation contains forward- looking information, including future-oriented financial information and financial outlook, under applicable securities laws. Except for statements of historical fact, information contained herein constitutes forward-looking statements. Forward-looking statements are provided to allow potential investors the opportunity to understand management's beliefs and opinions in respect of the future, so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such statements involve known and unknown risks and uncertainties, which may cause actual performance and financial results to differ materially from any projections expressed or implied. ViroGates undertakes no obligation to update forward-looking statements if circumstances or management's estimates should change, except as required by applicable securities laws. In case of any discrepancies between the wording of this presentation and the official Company Announcement made via Nasdaq First North Growth Market Denmark on 20 August 2026, the wording of the Company Announcement shall prevail.
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3 ViroGates develops and markets the product line suPARnostic® – a prognostic, blood-based biomarker that enables healthcare professionals and individuals to detect health risks early, make informed decisions, and optimize treatments for better outcomes. Founded in 2001 HQ in Denmark IPO in 2018 9 employees I NT RO D UCT I O N Empowering healthcare, enhancing longevity
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4 4 We address the challenges facing global healthcare systems Individuals are increasingly sick and demand more personalized treatment An aging population drives increasing healthcare costs, placing pressure on payers Delivery of healthcare services is challenged by a growing labor shortage I NT RO D UCT I O N MI SSI O N We deliver high-quality, accessible diagnostics that enable early risk identification, support informed clinical and personal health decisions, and contribute to improved health outcomes and longevity. V I SI O N We envision a shift in healthcare from reactive treatment to proactive prevention — enabling earlier interventions, personalised care, and empowering individuals to take control of their long-term well-being.
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5 suPAR is a biomarker with strong predictive power, supported by a large body of peer-reviewed evidence I NT RO D UCT I O N Source: Rasmussen LJH, Petersen JEV, Eugen-Olsen J. Front Immunol. 2021;12:780641. 1,100+ peer-reviewed papers in leading medical journals A naturally occurring protein found in human blood Reflects the immune system's activation level and current health status A strong indicator of chronic inflammation and a predictor of health outcomes s u P A R ’ S PRED I CT I V E POW ER 0 30 60 90 1.0 0.9 0.8 0.7 0.6 0.5 0.4 0-2 ng/ml 2-4 ng/ml 4-6 ng/ml 6-8 ng/ml 8-10 ng/ml >10 ng/ml Time (days) Survival
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6 A high suPAR level reflects chronic inflammation – an actionable parameter that can guide preventive and lifestyle interventions I NT RO D UCT I O N Rasmussen LJH, Petersen JEV, Eugen-Olsen J. Front Immunol. 2021 Dec 2;12:780641; Haupt TH et al. Immun Ageing. 2019 Jan 22;16:1. suPAR above 6 ng/ml High-risk health condition suPAR 4–6 ng/ml Medium-risk health condition suPAR below 4 ng/ml Low-risk health condition 1 suPAR indicates disease presence, severity and progression A tangible parameter that captures the underlying risk of disease presence and progression. 2 suPAR indicates unsustainable lifestyle choices Smoking Inactivity Unhealthy diet Systemic chronic inflammation
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7 Preventive health and longevity is a large market, and chronic inflammation is one of its fastest-growing segments I NT RO D UCT I O N Sources: McKinsey & Company, 2021; Grand View Research, 2021; Future Market Insights, 2021; Archive Market Research, 2025. USD 1.5tn Global wellness market Of which roughly USD 750 billion is health spend USD 200bn Clinical laboratory services Plus USD 15 billion in non-hospital point-of-care diagnostics USD 15bn Inflammation markers
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8 Products, business model & team
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9 One biomarker, four formats – from the central laboratory to the finger-prick PRO D UCT S ELISA Research use, longevity labs, 96-well plate assay CE-IVD POC+ In development ViroGates holds four granted patent families and two newly filed applications covering the clinical use of suPAR for risk str atification. TurbiLatex Automated clinical use on standard turbidimetric analysers CE-IVD · FDA De Novo filed Quick Triage Near-patient lateral flow test CE-IVD
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10 Headquarters in Birkerød, Denmark; suPARnostic® is used in more than 20 countries. ViroGates has a commercial presence through both direct sales representatives and established distributors (indirect sales) MA RKET S Europe · CE-IVD Clinical use. Direct sales alongside a handful of distributors covering key markets. United States · research use only Direct and suPARbioTM for ELISA. FDA clearance of the De Novo filing with Sobi is the route to clinical use. Rest of world · research use only Distributors plus direct sales – the channel we are now scaling through larger partners.
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11 Management and board T EA M MA NA GEMENT T EA M Jakob Knudsen CEO, LL.M & MBA 25+ years in life science; CEO since 2011 Josephine Baum Jørgensen CFO, MSc in EBA 10+ years in consulting and finance; CFO since 2023 Jesper Eugen-Olsen CSO and co-founder, PhD 30+ years of research; 100+ peer-reviewed papers NO N-EX ECU T I V E B O A RD Patrik Dahlén Chairman 35+ years in international life science and diagnostics Lars Kongsbak Board member, PhD 30+ years in life science including diagnostics Valérie Soulier Board member 25+ years in life science and diagnostics Thomas Krarup VP Sales & Marketing, PhD 25+ years in med-tech; leaving end of September
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12 Half-year report, H1 2026
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13 • Revenue increased by 173% to TDKK 5,101 (TDKK 1,869) • Operating expenses amounted to TDKK -8,253 (TDKK -9,485) • Operating loss decreased by 33% to TDKK -3,944 ( TDKK -5,871) • Net loss decreased by 47% to TDKK -3,199 (TDKK -6,031) • Cash and cash equivalents at the end of the period amounted to 17,635 (TDKK 11,878) The increase in revenue is driven by our U.S. partner taking delivery of its minimum order — roll-out to end users remains the key milestone ahead H 1 2 02 6 Financial results in H1, 2026 (H1, 2025 results in brackets) Revenue 1,869 H1 2025 5,101 H1 2026 +173% TDKK Operating loss -5,871 H1 2025 -3,944 H1 2026 -33% TDKK Cash balance 11,878 H1 2025 17,635 H1 2026 TDKK, end of period
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14 Revenue by product DKKm, % of total There has been no sale of POC+ in the two reported periods. 60% 83% 13% 24% 14% 3% H1, 2025 2% H1, 2026 1.9 5.1 2% TurbiLatex Quick Triage ELISA Other Financial highlights H 1 2 02 6
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15 Revenue by geographic area DKKm, % of total Note: Regional split uses the United Nations geoscheme for Europe created by the UNSD. 24% 68% 74% 31% 2% H1, 2025 1% H1, 2026 1.9 5.1 Europe North America ROW Financial highlights (continued) H 1 2 02 6
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16 Recurring customers by segment (# by end of period) A recurring customer is defined as a customer who has placed at least two orders within the trailing 12 months, with a combined order value exceeding EUR 10,000. Clinical routine customers are those using suPARnostic® products in routine patient or client handling and processes (e.g. clinics, laboratories, or hospitals), while research customers are those using suPARnostic® products for research purposes (e.g. CROs, university hospitals, or organizations using suPARnostic® in trials and studies). 9 9 10 11 H1, 2025 H1, 2026 19 20 Clinical routine Research Financial highlights (continued) H 1 2 02 6
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17 A shift toward partnership-led growth
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18 From clinic-by-clinic account management to fewer, larger partnerships ST RA T EGY T RA NSI T I O N UNT I L NO W A traditional, sales-led model Direct account management, one clinic or laboratory at a time Each new customer requires the same effort as the last Small average account size limits the return on that effort Growth is bounded by the size of our sales force ➔ FRO M H ERE A business-development model
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19 The commercial organization has been rebuilt around business development ST RA T EGY T RA NSI T I O N NEW RO L E AD Alexandre Delatour VP of Business Development Reports to the CEO. Tasked with building partnerships and market access with healthcare providers and commercial players across key markets. EXA MPL E suPARbioTM in the U.S. Distribution partnership designed to reach the U.S. longevity market. We provide operational support rather than selling directly. O NE A GREEMENT , MA NY END PO I NT S ViroGates Channel partner Reference labs Clinic chains Employers Consumers Effort scales with partners, not with headcount
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20 Focus points for the second half of 2026 O UT L O O K Supporting the U.S. roll-out Helping suPARbioTM move from stock build to testing at scale through higher-volume commercial channels. Responding to the FDA review We expect the FDA to request additional data; generating and submitting it is a significant commitment for the year ahead. Progressing POC+ validation Analytical and minor clinical validation remain before market registration under the IVDR can be pursued. Embedding the new commercial model Implementing the new structure and building the first partnerships under the business- development model. NEXT REPO RT Q1–Q3 2026 interim report — 5 November 2026
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21 Jakob Knudsen CEO Thank you! Josephine Baum CFO