Interim report
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Lemonsoft Oyj’s Interim Report for 1 January – 30 September 2026
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2 Lemonsoft Oyj Interim Report for 1 January - 30 September 2026 Lemonsoft Oyj’s Interim Report for 1 January – 30 September 2026 (unaudited) Accelerating product development and new AI solutions strengthen competitiveness July - September 2026, IFRS • Net sales were EUR 7,171 thousand (7,065) and increased by 1.5% • EBITDA was EUR 2,762 thousand (2,907), 38.5% (41.1) of net sales • Adjusted EBITDA was EUR 2,822 thousand (2,736), 39.4% (38.7) of net sales • EBIT was EUR 2,179 thousand (2,400), 30.4% (34.0) of net sales • Adjusted EBIT was EUR 2,507 thousand (2,476), 35.0% (35.1) of net sales • Profit of the review period was EUR 619 thousand (1,872), 8.6% (26.5) of net sales January - September 2026, IFRS • Net sales were EUR 22,472 thousand (22,047) and increased by 1.9% • EBITDA was EUR 6,851 thousand (7,469), 30.5% (33.9) of net sales • Adjusted EBITDA was EUR 7,066 thousand (6,380), 31.4% (28.9) of net sales • EBIT was EUR 5,069 thousand (5,759), 22.6% (26.1) of net sales • Adjusted EBIT was EUR 6,087 thousand (5,413), 27.1% (24.6) of net sales • Profit of the review period was EUR 2,668 thousand (3,345), 11.9% (15.2) of net sales
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3 Lemonsoft Oyj Interim Report for 1 January - 30 September 2026 Key Figures, IFRS EUR 1,000 7-9/2026 7-9/2025 Change 1-9/2026 1-9/2025 Change 1-12/2025 Net sales 7,171 7,065 1.5 % 22,472 22,047 1.9 % 29,454 SaaS 5,924 5,477 8.2 % 18,141 16,617 9.2 % 22,177 Transaction 468 691 -32.2 % 1,736 2,230 -22.2 % 2,974 Consulting and other 779 898 -13.3 % 2,595 3,201 -18.9 % 4,303 Gross margin 6,198 5,868 5.6 % 19,222 18,806 2.2 % 24,927 Gross margin, % of net sales 86.4 % 83.1 % 85.5 % 85.3 % 84.6 % EBITDA 2,762 2,907 -5.0 % 6,851 7,469 -8.3 % 9,290 EBITDA, % of net sales 38.5 % 41.1 % 30.5 % 33.9 % 31.5 % Adjusted EBITDA 2,822 2,736 3.1 % 7,066 6,380 10.8 % 8,201 Adjusted EBITDA, % of net sales 39.4 % 38.7 % 31.4 % 28.9 % 27.8 % EBIT 2,179 2,400 -9.2 % 5,069 5,759 -12.0 % 7,041 EBIT, % of net sales 30.4 % 34.0 % 22.6 % 26.1 % 23.9 % Adjusted EBIT 2,507 2,476 1.2 % 6,087 5,413 12.5 % 6,942 Adjusted EBIT, % of net sales 35.0 % 35.1 % 27.1 % 24.6 % 23.6 % Profit (Loss) for the period 619 1,872 -66.9 % 2,668 3,345 -20.3 % 4,363 Profit (Loss) for the period, % of net sales 8.6 % 26.5 % 11.9 % 15.2 % 14.8 % Equity ratio, % 58.1 % 60.9 % 58.1 % 60.9 % 61.5 % Net debt 7,500 6,423 16.8 % 7,500 6,423 16.8 % 4,016 Gearing, % 25.6 % 22.3 % 25.6 % 22.3 % 13.6 % Earnings per share (EPS) 0.03 0.11 -70.3 % 0.15 0.19 -20.9 % 0.25 Return on invested capital, % (ROIC) 5.2 % 6.1 % 12.2 % 14.7 % 17.7 % Return on equity, % (ROE) 2.1 % 6.7 % 9.1 % 10.9 % 14.1 % Number of employees at the end of the period 184 196 -6.1 % 184 196 -6.1 % 193 Outstanding shares at the end of the period 17,794,367 17,928,748 17,794,367 17,928,748 17,882,821 Average outstanding shares during the period 17,794,367 17,945,059 17,802,131 18,236,618 18,149,850
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4 Lemonsoft Oyj Interim Report for 1 January - 30 September 2026 CEO Alpo Luostarinen During the third quarter, we launched several new functionalities and focused on supporting both new and existing customers in adopting our latest solutions and AI functionalities. Our net sales amounted to EUR 7.2 million, representing moderate growth of 1.5%. Growth in SaaS income remained at a good level at 8.2%, and its share of net sales continued to increase, reaching 82.6% (77.5). Adjusted EBIT remained at the previous year’s level at EUR 2.5 million, or 35.0% of net sales. The corporate transactions concerning Finvoicer Group Oy and Lixani Oy completed in July weaken compara- bility with the previous year, but at the same time they sharpen our strategic focus on our core industries. The recovery of the manufacturing and wholesale market continued during the quarter. This was also reflected at the front end of our sales funnel: the number of ERP leads and the value of submitted offers were at a clearly higher level than before. The number of new deals still fell slightly short of our target, but customers’ decision-making clearly picked up at the end of the third quarter. During the quarter, we won several new customers who are migrating to us from competing systems approaching the end of their lifecycle. We estimate that this transition offers us a significant growth opportunity in the coming years. During the quarter, we actively met both our existing customers and potential new customers at several live events and webinars. As a result of these direct customer contacts, manufacturing customers in particular have decided to begin the transition to our most modern solutions and latest AI features, which improve, among other things, the order-to-delivery chain, the planning of production processes and the use of ERP data in business analytics. New customer churn has been clearly more moderate since the summer, but the terminations that became known earlier in the year will increase the churn realised during the remainder of the year and keep it at a high level. The pace of our product development increased clearly during the quarter. Thanks to AI and agent-based development, the number of completed functionalities during the review period was approximately three times higher than at the beginning of the year. Since the summer, we have released several significant updates related to finance and production. This autumn, we have also developed other core functions of our product, such as supply chain and inventory management. These updates strengthen our competitiveness in the software market for manufacturing and wholesale. We are progressing with internationalization in a customer- driven manner and are following our manufacturing customers abroad. We are currently building our capabilities together with our existing customers in Sweden, Germany and the Baltics. In the short term, we will first ensure the local functionality of the product in our existing customers’ international operations. In the longer term, we will develop broader and more compre- hensive local service capabilities. Lemonsoft’s position as a leading provider in the Finnish software market for manufacturing and wholesale is strong. The market recovery, the faster release and adoption of our modern solutions and improved customer satisfaction create a good foundation for accelerating our growth during 2027.
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5 Lemonsoft Oyj Interim Report for 1 January - 30 September 2026 Group Financial Development Group financial result and profitability July - September 2026 Net sales for the review period were EUR 7,171 thousand (7,065). Net sales increased by EUR 106 thousand, 1.5%. Organic growth of the review period was 0.2%, organic growth of the recurring revenue was -0.5% and growth in SaaS income was 8.2%. Net sales were increased by the acquisition of Jakamo Oy completed in early March 2026, the company’s net sales were not included in the comparison period. For the organic growth of net sales, the impact of corporate transactions (Jakamo Oy, Finvoicer Group Oy and Lixani Oy) has been excluded. The share of SaaS income was 82.6% (77.5), the share of transaction income 6.5% (9.8), and consulting and other income 10.9% (12.7). The increase in the share of SaaS income was driven by the Jakamo acquisition, and the decrease in transaction income and in consulting and other income was driven by the sale of Finvoicer Group. EBITDA was EUR 2,762 thousand (2,907), 38.5% (41.1) of net sales. Adjusted EBITDA (adjustments specified in the Alternative performance measures section) was EUR 2,822 thousand (2,736), 39.4% (38.7) of net sales. EBIT was EUR 2,179 thousand (2,400), 30.4% (34.0) of net sales. Adjusted EBIT (adjustments specified in the Alternative performance measures section) was EUR 2,507 thousand (2,476), 35.0% (35.1) of net sales. Profit for the review period was EUR 619 thousand (1,872), 8.6% (26.5) of net sales. The profit for the review period was affected by the corporate transactions completed during the period. Cash flow from operating activities was EUR 1,808 thousand (969). January - September 2026 Net sales for the review period were EUR 22,472 thousand (22,047). Net sales increased by EUR 425 thousand, 1.9%. Organic growth of the review period was -1.9%, organic growth of the recurring revenue was 0.3% and growth in SaaS income was 9.2%. Net sales were increased by the acquisition of Jakamo Oy completed in early March 2026, the company’s net sales were not included in the comparison period. For the organic growth of net sales, the impact of corporate transactions (Jakamo Oy, Finvoicer Group Oy and Lixani Oy) has been excluded. The share of SaaS income was 80.7% (75.4), the share of transaction income 7.7% (10.1), and consulting and other income 11.5% (14.5). The increase in the share of SaaS income was driven by the Jakamo acquisition, and the decrease in transaction income and in consulting and other income was driven by the sale of Finvoicer Group. EBITDA was EUR 6,851 thousand (7,469), 30.5% (33.9) of net sales. Adjusted EBITDA (adjustments specified in the Alternative performance measures section) was EUR 7,066 thousand (6,380), 31.4% (28.9) of net sales. In the comparison period the most significant adjustment item is the recognition of additional purchase price as revenue. EBIT was EUR 5,069 thousand (5,759), 22.6% (26.1) of net sales. Adjusted EBIT (adjustments specified in the Alternative performance measures section) was EUR 6,087 thousand (5,413), 27.1% (24.6) of net sales. In the comparison period the most significant adjustment item is the recognition of additional purchase price as revenue. Profit for the review period was EUR 2,668 thousand (3,345), 11.9% (15.2) of net sales. The profit for the review period was affected by the corporate transactions completed during the third quarter. Cash flow from operating activities was EUR 4,990 thousand (5,370). Balance sheet, financing and investments The balance sheet total at the end of the review period was EUR 50,697 thousand (48,090 at the end of the year 2025). The Group has capitalized development expenses of EUR 357 thousand during the year 2026 (541 during the comparison period 2025). At the end of the review period, the Group’s balance sheet included capitalized development expenses totaling EUR 3,137 thousand (2,809 at the end of the year 2025). Total equity was EUR 29,328 thousand (29,516 at the end of the year 2025), equity decreased EUR 188 thousand. Equity ratio was 58.1% (61.5 at the end of the year 2025) and interest-bearing debt was EUR 12,047 thousand (10,569 at the end of the year 2025). Cash and cash equivalents at the end of the review period were EUR 4,547 thousand (6,553 at the end of the year 2025).
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6 Lemonsoft Oyj Interim Report for 1 January - 30 September 2026 Personnel The Group’s number of employees was 184 (196) on 30 September 2026. We reported our Group personnel as follows: • Product organisation 99 employees • Customer functions 65 employees • Other functions, a total of 20 employees Share-based incentive plan The Board of Directors of Lemonsoft Oyj has established a share-based incentive plan for the key employees of the company in March 2024. The aim of the new plan is to align the objectives of the shareholders and the key employees in order to increase the value of the company in the long-term, to encourage the management to personally invest in the company’s shares, to retain the management at the company, and to offer them a competitive incentive plan in which the participants may earn shares as a reward for performance and their personal investment. The Performance Matching Share Plan 2024 - 2028 includes three performance periods, covering financial years 2024 - 2026, 2025 - 2027 and 2026 - 2028. The Board will decide annually on the commencement and details of a performance period. The prerequisite for participation in the plan and receiving the reward is that the person allocates freely transferable Lemonsoft Oyj shares held by him or her to the plan or acquires the company’s shares in a number determined by the Board. The rewards from the plan will be paid partly in the company’s shares and partly in cash. The rewards will be paid by the end of May in the year following the end of the performance period. The cash proportion is intended for covering taxes and tax-related costs arising from the reward to the participant. In general, no reward will be paid if a participant’s employment or service in the group ends before the reward payment. The performance criterion in the first performance period 2024 - 2026 is the Total Shareholder Return of the company’s share (TSR). The achievement of the required TSR levels will determine the proportion out of the maximum reward that will be paid to a participant. The target group of the plan consisted of 4 persons (the CEO and three members of the Management Team). The gross rewards for the first period correspond to a maximum total of 77,000 Lemonsoft Oyj shares including the cash portion. The final number of shares depends on the number of shares acquired by participants and the achievement of the TSR levels. The reward to be paid on the basis of the plan will be capped if the limits set by the Board for the payable reward from the performance period 2024 - 2026 are exceeded. The number of key employees in the target group changed during the performance period and consisted of 2 persons at the end of the reporting period. The performance criterion in the second performance period 2025 - 2027 is the Total Shareholder Return of the company’s share (TSR). The achievement of the required TSR levels will determine the proportion out of the maximum reward that will be paid to a participant. The target group of the plan consists of 4 persons (the CEO and three members of the Management Team). The gross rewards for the second period correspond to a maximum total of 102,675 Lemonsoft Oyj shares including the cash portion. The final number of shares depends on the number of shares acquired by participants and achievement of the TSR levels. The reward to be paid on the basis of the plan will be capped if the limits set by the Board for the payable reward from the performance period 2025 - 2027 are exceeded. The number of key employees in the target group changed during the performance period and consisted of 3 persons at the end of the reporting period. The performance criterion in the third performance period 2026 - 2028 is the Total Shareholder Return of the company’s share (TSR). The achievement of the required TSR levels will determine the proportion out of the maximum reward that will be paid to a participant. The target group of the plan consists of 6 persons (the CEO and five members of the Management Team). The gross rewards for the third period correspond to a maximum total of 142,500 Lemonsoft Oyj shares including the cash portion. The final number of shares depends on the number of shares acquired by participants and achievement of the TSR levels. The reward to be paid on the basis of the plan will be capped if the limits set by the Board for the payable reward from the performance period 2026 - 2028 are exceeded. The number of key employees in the target group changed during the performance period and consisted of 5 persons at the end of the reporting period.
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7 Lemonsoft Oyj Interim Report for 1 January - 30 September 2026 Shares and shareholders Share capital and number of shares The company has one series of shares, and all shares have equal rights. At the end of the review period, the number of Lemonsoft Oyj’s outstanding shares was 17,794,367 (17,928,748). The average number of outstanding shares during the review period January-September was 17,802,131 (18,236,618). Lemonsoft Oyj held 468,401 of its own shares at the end of the reporting period. The company’s share is traded on the First North Growth Market Finland marketplace maintained by Nasdaq Helsinki Oy. During the review period July - September, the highest share price was EUR 5.20 and the lowest EUR 4.02. The closing price on 30 September 2026 was EUR 4.54. The market value of the company at the closing price of the review period was approximately EUR 82.91 million. Average daily trading volume during the review period was 17,748 shares (EUR 79,308). On 30 September 2026, the company had a total of 2,139 shareholders. The company’s largest shareholders can be found on the company’s investor website at https://investors.lemonsoft.fi/share/shareholders/. Authorizations of the Board of Directors Lemonsoft Oyj has decided in its Annual General Meeting on 14 April 2026 to authorize the Board of Directors to decide on the repurchase of the company’s own shares on the following terms and conditions: • By virtue of the authorization, the Board of Directors is authorized to decide on the repurchase of a maximum of 1,800,000 of the company’s own shares. The proposed maximum number of shares to be repurchased corresponds to approximately 9.9% of the company’s shares. The authorization includes the right to accept the company’s own shares as a pledge. • The company’s own shares can be repurchased otherwise than in proportion to the existing shareholdings of the company’s shareholders (directed repurchase). • The company’s own shares can be repurchased at the Nasdaq First North Growth Market Finland marketplace or outside of the marketplace. • Own shares can be repurchased at a price formed on First North Growth Market Finland on the date of the repurchase or at a price otherwise determined by the markets. • The shares shall be repurchased using the company’s unrestricted equity. • The shares shall be repurchased for the purpose of financing or carrying out acquisitions or other arrangements, to implement the company’s incentive schemes, to develop the company’s capital structure, or for other purposes as decided by the Board of Directors. • The Board of Directors shall decide on the other conditions related to the repurchase of the company’s own shares. The authorization is valid until the 2027 Annual General Meeting, but not beyond 30 June 2027. The authorization shall replace the authorization granted to the Board of Directors by the Annual General Meeting of 9 April 2025 regarding the repurchase of a maximum of 1,800,000 of the company’s own shares. The Annual General Meeting authorized the Board to decide on an ordinary or bonus issue of shares and the granting of special rights (as defined in Section 1, Chapter 10 of the Limited Liability Companies Act) in one or more instalments: • This issue may total a maximum of 1,800,000 shares corresponding to a maximum of approximately 9.9% of all shares of the company. The authorization applies to both new shares and treasury shares held by the company. The authori- zation may be used to fund or complete acquisitions or other business transactions, for offering share-based incentive schemes, to develop the company’s capital structure, or for other purposes decided by the Board of Directors. • The authorization entitles the Board of Directors to resolve on all conditions of the issuance of shares and special rights entitling to shares, including the right to deviate from the shareholders’ pre-emptive right. The authorization is in force until the next Annual General Meeting; however, no longer than until 30 June 2027, and it replaces the previous authorizations.
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8 Lemonsoft Oyj Interim Report for 1 January - 30 September 2026 Significant short-term risks and uncertainties The deterioration of the economic situation and geopolitical changes may have direct and indirect effects on Lemonsoft’s business. These may be reflected in the business operations of Lemonsoft’s customer companies, for example, in reduced investments by industrial manufacturing companies and decreased needs of subcontracting chains, as well as business and bankruptcy risks. In turn, customers’ business challenges may affect Lemonsoft’s new customer acquisition, upsells from existing customers, and customer retention. In the longer term, the biggest challenge for our industry is the availability of skilled personnel. Success of the Group and opportunities for growth depend largely on how well we can recruit, motivate, and engage more skilled personnel and develop our expertise. In Lemonsoft’s cost structure, the single most significant factor is personnel costs, and an increase in the general price level may increase the pressure to increase personnel costs. Lemonsoft constantly monitors the development of the situation from a risk management perspective and strives to ensure the continuation of profitable growth by optimizing its cost structure and pricing. The ERP market is generally a highly competitive market, and the industry is fragmented. Smaller players are primarily focused in a specific sector of SMEs and larger players do not compete directly for customers in the same market. However, competition in Lemonsoft’s operating markets may intensify due to existing competitors or agile new entrants. With the acceleration of product development enabled by advances in AI, entry into the industry may become easier, the number of competitors may increase, and price competition in the market may intensify. Risks related to information security and the IT systems of service providers, as well as potential misuse, are a significant factor affecting the security and continuity of the Group’s business. Lemonsoft constantly invests in high reliability and high security systems and strives to ensure the high quality of the services it purchases by selecting leading players in the industry as its key partners. European data protection regulations may also bring unexpected risks to Lemonsoft’s operating environment. Success in acquisitions and related integration work is a key factor for Lemonsoft’s growth. The company has made several acquisitions in recent years and aims to continue to grow through acquisitions. There may be unexpected risks associated with target companies and their integration into Lemonsoft.
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9 Lemonsoft Oyj Interim Report for 1 January - 30 September 2026 Events after the review period Lemonsoft Oyj announced on 20 October 2026 that it would initiate change negotiations in accordance with the Cooperation Act. The negotiations cover the personnel of the Group’s parent company, Lemonsoft Oyj. Lemonsoft estimates that the need to reduce personnel is at most nine employees. In addition, the negotiations will assess possible reorganisations of tasks and the organisational structure, which may also result in new positions within the company. Lemonsoft Oyj announced on 2 November 2026 that the change negotiations had been concluded. As a result of the measures decided upon in the negotiations, personnel reductions will affect a total of seven employees, and material changes to employment terms will affect two employees. The outcome of the change negotiations has no impact on Lemonsoft Oyj’s profit forecast for 2026. Profit forecast for 2026 (updated on 3 August 2026) Lemonsoft estimates that the net sales for the financial year 2026 will increase by -1-5 percent compared to the financial year 2025, and that adjusted EBIT will be 23-29 percent of net sales in the financial year 2026. Financial information Lemonsoft Oyj will publish the financial calendar for 2027 later this year. Webcast for investors and media Lemonsoft will host a live webcast for investors and the media in English on November 5, 2026 at 1:00pm EET. The webcast can be followed online live via this link: https://events.inderes.com/lemonsoft/2026-q3-results A recording of the event and the presentation material will be available after the event at https://investors.lemonsoft.fi/. Lemonsoft Oyj Board of Directors
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10 Lemonsoft Oyj Interim Report for 1 January - 30 September 2026 For further information, please contact: Alpo Luostarinen CEO alpo.luostarinen@lemonsoft.fi +358 50 911 3507 Mari Erkkilä CFO mari.erkkila@lemonsoft.fi +358 40 768 1415 Certified Adviser: Aktia Alexander Corporate Finance Oy +358 50 520 4098 About Lemonsoft Oyj Lemonsoft is a Finnish software company that designs, develops and sells ERP software solutions to streamline its customers’ processes across different business lines and administration. The extensive offering of software solutions and related services enables the company to provide its customers with holistic service. The company’s standardized and scalable software solutions are delivered mainly from the cloud and are based on the SaaS model in which customers pay a monthly service fee for the use of the software. The company operates in the ERP software market primarily as a service provider for SMEs. The company’s customer base includes customers from especially industrial manufacturing, wholesale and retail, professional services automation, construction and accounting. Get to know us better at www.lemonsoft.fi. Distribution Nasdaq Helsinki Oy Principal media
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11 Lemonsoft Oyj Interim Report for 1 January - 30 September 2026 Consolidated income statement, IFRS Tables section EUR 1,000 7-9/2026 7-9/2025 1-9/2026 1-9/2025 1-12/2025 NET SALES 7,171 7,065 22,472 22,047 29,454 Other operating income 20 171 20 1,093 1,093 Materials and services -973 -1,197 -3,250 -3,242 -4,527 Employee benefit expenses -2,750 -2,487 -9,861 -9,852 -13,295 Depreciation and amortization -583 -507 -1,782 -1,710 -2,249 Other operating expenses -706 -646 -2,530 -2,577 -3,434 EBIT 2,179 2,400 5,069 5,759 7,041 Share of profit (loss) of associates -27 0 -27 0 0 Financial income 6 16 24 58 73 Financial expenses -1,227 -96 -1,459 -1,503 -1,616 PROFIT (LOSS) BEFORE TAXES 931 2,319 3,607 4,314 5,497 Income taxes -312 -448 -940 -969 -1,134 PROFIT (LOSS) FOR THE PERIOD 619 1,872 2,668 3,345 4,363 PROFIT (LOSS) FOR THE PERIOD ATTRIBUTABLE TO Owners of the parent company 565 1,920 2,663 3,449 4,534 Non-controlling interests 54 -49 5 -104 -171
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12 Lemonsoft Oyj Interim Report for 1 January - 30 September 2026 Consolidated balance sheet, IFRS EUR 1,000 30.9.2026 30.9.2025 31.12.2025 ASSETS NON-CURRENT ASSETS Goodwill 32,050 28,052 28,051 Intangible assets 7,064 7,502 7,193 Tangible assets 850 716 846 Investments 2,157 2,157 2,157 Investments in associates 379 0 0 Deferred tax assets 24 17 12 TOTAL NON-CURRENT ASSETS 42,525 38,444 38,260 CURRENT ASSETS Inventory 99 77 97 Trade and other receivables 3,526 4,371 3,181 Cash and cash equivalents 4,547 4,445 6,553 TOTAL CURRENT ASSETS 8,172 8,894 9,831 TOTAL ASSETS 50,697 47,338 48,090 EQUITY AND LIABILITIES EQUITY Share capital 80 80 80 Reserve for invested unrestricted equity 15,865 15,900 15,900 Retained earnings 13,141 12,588 13,389 Equity of the owners of the parent company 29,086 28,568 29,370 Share of non-controlling owners 243 213 146 TOTAL EQUITY 29,328 28,781 29,516 LIABILITIES NON-CURRENT LIABILITIES Loans from financial institutions 8,326 7,798 7,548 Lease liabilities 262 103 209 Deferred tax liabilities 1,229 1,289 1,258 TOTAL NON-CURRENT LIABILITIES 9,816 9,190 9,015 CURRENT LIABILITIES Loans from financial institutions 3,072 2,672 2,472 Lease liabilities 387 296 340 Advances received 626 390 303 Trade and other payables 7,467 6,009 6,444 TOTAL CURRENT LIABILITIES 11,552 9,367 9,559 TOTAL LIABILITIES 21,368 18,557 18,574 TOTAL EQUITY AND LIABILITIES 50,697 47,338 48,090
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13 Lemonsoft Oyj Interim Report for 1 January - 30 September 2026 Consolidated cash flow statement, IFRS EUR 1,000 7-9/2026 7-9/2025 1-9/2026 1-9/2025 1-12/2025 Cash flow from operating activities: Profit (Loss) for the period 619 1,872 2,668 3,345 4,363 Adjustments: 2,201 921 4,348 3,401 4,236 Depreciation and amortisation 583 507 1,782 1,710 2,249 Other income and expenses without payment 85 -114 191 -722 -690 Financial income and expenses 1,221 80 1,435 1,445 1,544 Taxes 312 448 940 969 1,134 Cash flow before change in working capital 2,820 2,793 7,015 6,746 8,600 Change in working capital * -496 -1,479 -474 -330 1,745 Cash flow before financial items and taxes * 2,325 1,314 6,541 6,417 10,344 Net financial items and taxes * -517 -344 -1,551 -1,046 -1,876 Net cash flow from operating activities (A) 1,808 969 4,990 5,370 8,468 Cash flow from investing activities: Acquisition of tangible and intangible assets -112 -128 -357 -541 -652 Other investments 0 0 0 0 0 Proceeds from sale of investments 0 0 0 0 0 Acquisition of subsidiary, net of cash acquired -913 -750 -5,001 -1,017 -1,017 Disposal of subsidiaries 794 0 794 0 0 Net cash flow from investing activities (B) -231 -878 -4,563 -1,558 -1,669 Cash flow from financing activities: Dividends paid 0 0 -2,491 -2,590 -2,590 Repayments of non-current loans -1,176 -917 -3,068 -2,082 -2,562 Proceeds from non-current loans 0 0 4,000 2,500 2,500 Acquisition of treasury shares 0 -396 -472 -4,648 -4,948 Repayments of lease liabilities -90 -98 -301 -295 -394 Proceeds from capitalization by non-controlling interests -100 0 -100 98 98 Net cash flow from financing activities (C) -1,366 -1,411 -2,432 -7,018 -7,897 Change in cash and cash equivalents (A + B + C) increase (+) / decrease (–) 211 -1,320 -2,006 -3,205 -1,097 Cash and cash equivalents at the beginning of the period 4,337 5,765 6,553 7,650 7,650 Cash and cash equivalents at the end of the period 4,547 4,445 4,547 4,445 6,553 Change in cash 211 -1,320 -2,006 -3,205 -1,097 * Changes have been made to the comparison periods so that the comparisons correspond to the recording method of the financial year 2026.
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14 Lemonsoft Oyj Interim Report for 1 January - 30 September 2026 Consolidated statement of changes in equity, IFRS Accounting principles The Group’s Interim Report has been prepared in accordance with IAS34 Interim Financial Reporting. The interim report is unaudited. The information in the Interim Report is presented in thousands of Euro, except when otherwise stated. All figures presented have been rounded, and consequently the sum of individual figures may deviate from the presented aggregate figure. EUR 1,000 Equity of the owners of the parent company Share of non-controlling owners Total equity Share capital Invested unrestricted equity reserve Retained earnings Total Equity 1.1.2025 80 18,448 13,779 32,307 219 32,526 Profit (Loss) for the period 3,449 3,449 -104 3,345 Transactions with owners: Changes in non-controlling interests 98 98 Directed share issue Share based payments 50 50 50 Dividends paid -2,590 -2,590 -2,590 Acquisition of treasury shares -2,100 -2,100 -2,100 Cancellation of treasury shares -2,548 -2,548 -2,548 Equity 30.9.2025 80 15,900 12,588 28,568 213 28,781 Equity 1.1.2026 80 15,900 13,389 29,370 146 29,516 Profit (Loss) for the period 2,663 2,663 5 2,668 Transactions with owners: Loss of control of a subsidiary -36 -36 -91 -126 Directed share issue Share based payments 66 66 66 Dividends paid -2,491 -2,491 -2,491 Acquisition of treasury shares -472 -472 -472 Other -14 -14 -14 Changes in non-controlling interests: Acquisition of a subsidiary with non-controlling interests 182 182 Equity 30.9.2026 80 15,865 13,141 29,086 243 29,328
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15 Lemonsoft Oyj Interim Report for 1 January - 30 September 2026 Distribution of net sales Notes Goodwill EUR 1,000 7-9/2026 7-9/2025 Change 1-9/2026 1-9/2025 Change 1-12/2025 Net sales 7,171 7,065 1.5 % 22,472 22,047 1.9 % 29,454 SaaS 5,924 5,477 8.2 % 18,141 16,617 9.2 % 22,177 Transaction 468 691 -32.2 % 1,736 2,230 -22.2 % 2,974 Consulting and other 779 898 -13.3 % 2,595 3,201 -18.9 % 4,303 EUR 1,000 9/2026 9/2025 12/2025 Acquisition cost 1.1. 29,914 29,914 29,914 Additions 5,378 0 0 Deductions -1,376 0 0 Reclassifications 0 0 0 Acquisition cost at the end of the period 33,917 29,914 29,914 Accumulated depreciation and amortisation 1.1. 1,863 1,859 1,859 Accumulated depreciation and amortisation on deductions and transfers 0 0 0 Depreciation and amortisation for the period 2 3 4 Accumulated depreciation and amortisation at the end of the period 1,866 1,862 1,863 Book value at the end of the period 32,050 28,052 28,051
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16 Lemonsoft Oyj Interim Report for 1 January - 30 September 2026 Intangible assets EUR 1,000 9/2026 9/2025 12/2025 Acquisition cost 1.1. 11,359 10,707 10,707 Additions 1,772 541 652 Deductions -495 0 0 Reclassifications 0 0 0 Acquisition cost at the end of the period 12,637 11,248 11,359 Accumulated depreciation and amortisation 1.1. 4,166 2,584 2,584 Accumulated depreciation and amortisation on deductions and transfers 0 0 0 Depreciation and amortisation for the period 1,407 1,162 1,582 Accumulated depreciation and amortisation at the end of the period 5,573 3,746 4,166 Book value at the end of the period 7,064 7,502 7,193 Tangible assets EUR 1,000 9/2026 9/2025 12/2025 Acquisition cost 1.1. 4,016 3,542 3,542 Additions 397 230 478 Deductions -22 -3 -4 Reclassifications 0 0 0 Acquisition cost at the end of the period 4,391 3,768 4,016 Accumulated depreciation and amortisation 1.1. 3,171 2,508 2,508 Accumulated depreciation and amortisation on deductions and transfers 0 0 0 Depreciation and amortisation for the period 371 545 663 Accumulated depreciation and amortisation at the end of the period 3,542 3,052 3,171 Book value at the end of the period 850 716 846
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17 Lemonsoft Oyj Interim Report for 1 January - 30 September 2026 EUR 1,000 Level Fair value through profit or loss Amortised cost Carrying amount Fair value 30.9.2026 Non-current financial assets Equity investments 3 2,157 0 2,157 2,157 Total non-current financial assets 2,157 0 2,157 2,157 Current financial assets Trade receivables 0 2,012 2,012 2,012 Financial receivables 0 251 251 251 Other receivables 0 1,263 1,263 1,263 Cash and cash equivalents 0 4,547 4,547 4,547 Total current financial assets 0 8,073 8,073 8,073 Non-current financial liabilities Loans from financial institutions 2 0 8,326 8,326 8,326 Lease liabilities 0 262 262 262 Other liabilities 2 0 0 0 0 Total non-current financial liabilities 0 8,588 8,588 8,588 Current financial liabilities Loans from financial institutions 2 0 3,072 3,072 3,072 Lease liabilities 0 387 387 387 Advances received 0 626 626 626 Trade payables 0 1,036 1,036 1,036 Contingent consideration 3 3,436 0 3,436 3,436 Other payables 0 2,995 2,995 2,995 Total current financial liabilities 3,436 8,116 11,552 11,552 Financial assets and liabilities EUR 1,000 9/2026 9/2025 12/2025 Collateral securities Cash pledges (movable object, security) * 1,073 1,073 1,073 Business mortgage, parent company 20,000 15,000 15,000 Total collateral securities 21,073 16,073 16,073 Group’s commitments * The value of cash pledges corresponds to the purchase price of the pledged real estate shares.
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18 Lemonsoft Oyj Interim Report for 1 January - 30 September 2026 Business acquisitions 2026 Jakamo Oy On 2 March, 2026, Lemonsoft Oyj acquired a 76% ownership stake in Jakamo Oy, a software company specialising in industrial procurement processes. Through the transaction, Lemonsoft strengthens its offering for industrial manufacturing customers by providing additional opportunities to streamline procurement and supply chain collaboration as well as impro- ve supply chain transparency and information flow. The purchase price for the acquired 76% ownership stake was approximately EUR 3.9 million and the net debt-free enterprise value of the target (100%) was approximately EUR 5.6 million. Of the purchase price, approximately EUR 3.5 million was paid at closing and approximately EUR 0.4 million will be paid as a deferred purchase price in early 2027. The purchase price was paid fully in cash and the transaction will be financed with a bank loan. The agreement includes an option to acquire the remaining 24% of the shares during 2028 and 2029. In addition, the parties have agreed on an additional pur- chase price based on the year 2026, which is based on the company’s revenue growth and profitability. The maximum additional purchase price is EUR 1.9 million and, if realised, it will be paid fully in cash in early 2027. Identifiable assets acquired and liabilities assumed are valued at their fair values at the date of acquisition. Acquired assets include intangible assets recognized separately from goodwill, consisting of customer relationships and technology. The goodwill is based on the expected synergy benefits from the acquisition of Jakamo Oy, as well as on utilizing the growth of the joint sales and marketing network and expanding customer relationships within the Group. Goodwill is not deductible in taxation. Acquisition-related costs of EUR 150 thousand are included in the Other operating expenses item in the consoli- dated income statement. Lemonsoft Group’s net sales in 1.1.2026 – 30.9.2026 would have been approximately EUR 22.8 million and profit for the period approximately EUR 2.9 million if the businesses acquired during the period had been consolidated from the beginning of 2026. The following table presents the fair values of the acquired assets and liabilities based on the preliminary purchase price allocation. EUR 1,000 Jakamo (2026) Consideration transferred In cash 3,624 In shares 0 Deferred and contingent consideration 2,331 Total consideration transferred 5,955 Assets acquired and liabilities assumed at the date of acquisition Customer relationships 421 Technology 994 Other intangible assets 0 Right-of-use assets 63 Other tangible assets 0 Trade and other receivables 253 Cash and cash equivalents 216 Total assets 1,947 Lease liabilities 63 Trade and other payables 1,007 Deferred tax liabilities 118 Total liabilities 1,188 Total acquired net assets 759 Total consideration transferred 5,955 Non-controlling interests 182 Goodwill 5,378 Cash flow impact of acquisitions Consideration paid in cash 3,624 Cash and cash equivalents transferred -216 Net cash flow on acquisition 3,408
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19 Lemonsoft Oyj Interim Report for 1 January - 30 September 2026 Business acquisitions 2025 There were no acquisitions of businesses during the financial year. Events after the review period Lemonsoft Oyj announced on 20 October 2026 that it would initiate change negotiations in accordance with the Cooperation Act. The negotiations cover the personnel of the Group’s parent company, Lemonsoft Oyj. Lemonsoft estimates that the need to reduce personnel is at most nine employees. In addition, the negotiations will assess possible reorganisations of tasks and the organisational structure, which may also result in new positions within the company. Lemonsoft Oyj announced on 2 November 2026 that the change negotiations had been concluded. As a result of the measures decided upon in the negotiations, personnel reductions will affect a total of seven employees, and material changes to employment terms will affect two employees. The outcome of the change negotiations has no impact on Lemonsoft Oyj’s profit forecast for 2026.
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20 Lemonsoft Oyj Interim Report for 1 January - 30 September 2026 Alternative performance measures Adjusted EBITDA Adjusted EBIT Organic growth of net sales Key figures Organic growth of the recurring revenue EUR 1,000 7-9/2026 7-9/2025 1-9/2026 1-9/2025 1-12/2025 EBITDA 2,762 2,907 6,851 7,469 9,290 EBITDA, % of net sales 38.5 % 41.1 % 30.5 % 33.9 % 31.5 % M&A- related expenses 60 1 215 4 4 Recognition of contingent consideration 0 -171 0 -1,093 -1,093 Adjusted EBITDA 2,822 2,736 7,066 6,380 8,201 Adjusted EBITDA, % of net sales 39.4 % 38.7 % 31.4 % 28.9 % 27.8 % EUR 1,000 7-9/2026 7-9/2025 1-9/2026 1-9/2025 1-12/2025 EBIT 2,179 2,400 5,069 5,759 7,041 EBIT, % of net sales 30.4 % 34.0 % 22.6 % 26.1 % 23.9 % M&A expenses 60 1 215 4 4 Recognition of contingent consideration 0 -171 0 -1,093 -1,093 Amortisation of intangible assets related to business combinations 269 247 803 742 990 Adjusted EBIT 2,507 2,476 6,087 5,413 6,942 Adjusted EBIT, % of net sales 35.0 % 35.1 % 27.1 % 24.6 % 23.6 % EUR 1,000 7-9/2026 7-9/2025 1-9/2026 1-9/2025 1-12/2025 Net sales 7,171 7,065 22,472 22,047 29,454 Impact of acquisitions and divestments -90 0 -832 -981 -981 Organic revenue 7,081 7,065 21,640 21,067 28,474 Net sales of comparison period 7,065 7,315 22,047 21,239 28,911 Organic growth of net sales, % 0.2 % -3.4 % -1.9 % -0.8 % -1.5 % EUR 1,000 7-9/2026 7-9/2025 1-9/2026 1-9/2025 1-12/2025 Recurring revenue (SaaS + Transaction) 6,392 6,168 19,877 18,847 25,151 Impact of acquisitions and divestments (SaaS + Transaction) -255 0 -965 -849 -849 Organic recurring revenue 6,138 6,168 18,912 17,998 24,302 Recurring revenue of comparison period 6,168 6,192 18,847 17,772 24,073 Organic growth of recurring revenue, % -0.5 % -0.4 % 0.3 % 1.3 % 1.0 %
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21 Lemonsoft Oyj Interim Report for 1 January - 30 September 2026 Calculation of key figures Gross Margin Net sales - Materials and services EBITDA EBIT+ Depreciation and amortisation Adjusted EBITDA EBIT + Depreciation and amortisation + M&A expenses +/- Other significant non-recurring items affecting comparability EBIT Net sales + Other operating income - Materials and services - Employee benefit expenses - Other operating expenses - Depreciation and amortisation Adjusted EBIT EBIT + Amortisation of intangible assets related to business combinations + M&A expenses +/- Other significant non-recurring items affecting comparability Equity ratio, % Equity +/- Non-controlling interests x100 / (Balance sheet total - Advances received) Net debt Loans from credit institutions + Lease liabilities + Other liabilities - Cash and cash equivalents Gearing, % (Loans from credit institutions + Lease liabilities - Cash and cash equivalents) x100 / Equity Earnings per share (EPS) Profit (loss) for the period attributable to owners of the parent company / Weighted average number of ordinary shares outstanding during the financial year Return on invested capital (ROIC), % (Profit (loss) for the period + Financial expenses + Tax expense) / (Equity + Loans from credit institutions + Lease liabilities) Return on equity (ROE), % Profit (loss) for the period / ((Equity at the beginning of the period + Equity at the end of the period) /2)
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