Slides
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1 Half-Year Report JANUARY-JUNE 2026 31 August 2026
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22 Key figures EUR (thousand) 1–6/2026 1–6/2025 1–12/2025 Revenue (net sales) 286 100 344 Impairment loss of joint ventures 0 -18 433 -18 433 Operating result (EBIT) -6 889 -26 873 -41 338 Profit for the period -6 929 -26 291 -40 694 Earnings per share (EUR, diluted and undiluted) 1) -0,13 -0,50 -0,78 Net cash 13 196 33 269 18 161 Equity ratio, % 43% 79% 48% Number of permanent employees, end of period 58 51 84 Number of permanent employees, average 71 54 61 EUR (thousand) 30.6.2026 30.6.2025 31.12.2025 Liquid funds total 38 468 41 564 44 425 *The decrease in the Group’s net cash position is explained by an increase in lease liabilities, primarily related to the lease liability of Woodspin Oy’s production facility, amounting to EUR 14 370 thousand in total.
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33 Financial guidance for 2026 Spinnova will not give financial guidance for the year 2026.
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4 28.8.2025 Spinnova initiated test runs at the Woodspin demo factory, and prepares to restart production • Test runs were initiated at the Woodspin demo factory, with a particular focus on improving production efficiency. • Based on the results achieved in the trial runs, the company prepares to restart production on a larger scale during 2026. • The initial test runs were completed as planned, and production volumes and quality levels comparable to the factory's previous operating performance were achieved. • The production costs of the fibre are already at a competitive level compared to wool and linen products.
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5 28.8.2025 Increasing emphasis on circular raw materials • Spinnova has seen growing interest particularly in recycled textile-based and recyclable solutions. • The aim is to expand the use of recycled textile as a raw material. • In addition, interest in utilising agricultural side streams as feedstock for textile fibres has increased in several markets, such as India. • At the Woodspin facility, preparations are underway to introduce recycled textiles as a raw material. The first larger scale test will take place already during the autumn.
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Spinnova strengthened its commercial capabilities with new Chief Commercial Officer • Spinnova appointed Mikko Lassila as Chief Commercial Officer and management team member. • With Mikko’s leadership, we have accelerated collaboration with both existing and new brand partners, while discussions with potential ecosystem partners have remained active.
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Spinnova continued to build its ecosystem • Spinnova Plc signed Letter of Intent (LOI) with Portuguese yarn spinning company, Tearfil Textile Yarns to secure access to SPINNOVA® fibre volumes. • INSIDER, techwear and sustainable fashion brand, signed a Letter of Intent (LOI) to secure access to future volumes of SPINNOVA® fibre. • Textile-to-textile recycling leader Circulose joined Spinnova’s ecosystem as a key player in textile recycling, strengthening the ecosystem with recycled textiles. • Sulzer, a Swiss industrial engineering and manufacturing company, joined Spinnova’s ecosystem, contributing its expertise to support Spinnova’s development work. • NZ TEX GROUP, Spinnova’s long-term woven fabric manufacturing partner based in Bangladesh, joined the Spinnova ecosystem to support the scaling of SPINNOVA® fibre.
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Brand collaborations continued actively, and new products were introduced to the market • JJXX, the womenswear brand by JACK & JONES, introduced a set of new looks made with SPINNOVA® fibre. • ECCO, in partnership with Spinnova, announced the launch of the limited edition ECCO BIOM® 720, a fir st- of-its-kind shoe utilising an often overlooked leather by-product, transformed into a protein-based fibre. • The product was positively received, and the launch increased interest in leather waste-based fibre solutions. • Interest has been particularly strong among luxury brands, and a development work with a new partner was initiated that is also generating revenue for Respin. • Respin's goal is to engage new partners to support production scaling to industrial level.
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After the reporting period • Spinnova Plc’s Chief Product and Sustainability Officer and member of the Management Team Shahriare Mahmood decided to leave his position with the company on 21 July 2026. • Spinnova appointed Sampo Immonen as Chief Technology Officer (CTO) and a member of the Management Team. Juha Salmela, previously CTO, will continue as a member of the Management Team in the newly established role of Chief Technology Strategy and Innovation Officer (CTSIO). • On 13 August 2026, Spinnova announced intention to pursue U.S. Initial Public Offering and dual listing on the Nasdaq Capital Market. The IPO is likely to take place in September-October.
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Why a U.S. listing, and why now Spinnova prepares for the commercial ramp-up. The capital, the customers and the specialist investors that fund that phase can be found in the United States. • Why now, not later. The technology cost-reduction phase is ongoing, and the demo factory is preparing to restart. The next step is industrial scaling, and that is foremost a capital decision. • The capital need is a scale-up need. Proceeds are intended to support the ramp-up of the Eteläportti demo facility and commercialisation of the technology. • U.S. markets fund companies at this stage. Next gen- materials and industrial-technology growth companies find their deepest pool of specialist institutional capital, research coverage and comparable peers in the United States. • An addition, not a relocation. Shares continue to trade on Nasdaq First North Growth Market Finland as SPINN, with the existing ISIN unchanged. Existing shareholders need take no action. This presentation is not an offer to sell or a soli citation of an offer to buy securities. Any offerin g will be made only by means of a prospectus. Contain s forward-looking statements.
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End market is in the U.S. • The largest apparel import market in the world: The U.S. imported USD 79.3 billion of apparel in 2023, about one-fifth of global imports.¹ U.S. consumers spent USD 562 billion on clothing and footwear in 2025.² • Partners are building into it: Denim developed with our Bangladeshi mill partner NZ TEX GROUP was showcased at Kingpins New York in July 2026. Consortium partner ARMEDANGELS entered the U.S. market in May 2026. • Ecosystem includes a U.S.-listed brand owner: TOMMY HILFIGER, owned by PVH Corp. (NYSE: PVH, New York), joined to secure access to SPINNOVA® fibre and build a dedicated fabric library. • IP is protected in that market: 68 granted patents globally and 99 pending applications, including granted U.S. patents on the core fibre-manufacturing method. ¹ U.S. International Trade Commission, Publication 5 543, August 2024. ² U.S. Bureau of Economic Analysis, personal consumption expenditures on clothing and f ootwear, 2025. This presentation is not an offer to sell or a soli citation of an offer to buy securities. Any offerin g will be made only by means of a prospectus. Contain s forward-looking statements.
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What the U.S. listing is intended to unlock Four outcomes we are targeting. Each is a means to the same end: funding and de-risking ramp-up. 01 Access to capital Targeted gross proceeds of at least USD 15 million (approximately EUR 13 million), plus ongoing access to the potential U.S. follow-on market. 02 A broader, more institutional shareholder base Approximately 30,000 registered holders today, predominantly Finnish. The offering is intended to add U.S. institutional and specialist circularity investors. 03 Trading liquidity in a second market A U.S. trading venue alongside continued trading in Finland, intended to widen the pool of buyers and sellers over time and likely improving the share liquidity. 04 Research coverage and peer comparability Spinnova is followed today by one Nordic equity research house. Nasdaq is the venue where our technology peers are covered, benchmarked and valued. This presentation is not an offer to sell or a soli citation of an offer to buy securities. Any offerin g will be made only by means of a prospectus. Conta ins forward-looking statements.
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13 28.8.2025 Summary • Spinnova initiated trial runs at the Woodspin demo factory and prepared for the restart of production. • The production costs of the fibre are already at a competitive level compared to wool and linen products. • The aim is to expand the use of recycled textile as a raw material. • Mikko Lassila joined Spinnova as Chief Commercial Officer and has accelerated collaboration with both existing and new brand partners. • Spinnova continued to build an ecosystem supporting the scaling of its technology successfully. • Brand collaborations remained active, and new products were launched to the market. • After the review period, Spinnova announced its plans for a U.S. public offering and dual listing. This measure aims to increase shareholder value.
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Thank you Q&A @spinnova_fibre @SpinnovaPlc SPINNOVA® YHTEYDENOTOT: IR@SPINNOVA.COM
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15 Appendix • Group Income Statement January-June 2026 • Group Balance Sheet 30 June 2026 • Group Cash Flow Statement January-June 2026
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16 Consolidated Statement of Profit and Loss and Other Comprehensive Income EUR (thousand) Note 1–6/2026 1–6/2025 1–12/2025 Revenue (net sales) 1. 286 100 344 Other operating income 295 559 2 697 Materials and services -177 -1 - 88 Personnel expenses -3 456 -3 641 -6 501 Depreciation, amortisation, and impairment losses -1 227 - 1 367 -13 380 Other operating expenses -2 470 -2 311 -4 161 Share of profit (loss) from associated companies -141 -1 778 -1 817 Impairments of joint ventures 0 -18 433 -18 433 Operating Result (EBIT) -6 889 -26 873 -41 338 Financial income 435 657 1 144 Financial expenses -506 -59 - 460 Result before taxes -6 960 -26 274 -40 654 Income tax 31 -17 - 41 Result for the period -6 929 -26 291 -40 694 Attributable to Equity holders of the parent -6 929 -26 291 -4 0 694 Non-controlling interests 0 0 0 Total comprehensive income for the period -6 929 -26 291 -40 694 Earnings per share, EUR Earnings per share, diluted & undiluted -0.13 -0.50 -0.78
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17 Consolidated Statement of Financial Position EUR (thousand) Note 30 June 2026 30 June 2025 31 December 2025 Assets Non-current assets Intangible assets 2. 8 294 9 639 9 024 Property, plant, and equipment 2. 1 569 1 741 1 412 Right-of-use assets 2. 760 840 999 Investments in joint ventures 1 522 1 511 1 609 Other non-current receivables 5. & 6. 2 395 108 2 405 Deferred tax assets 5 6 5 Total non-current assets 14 546 13 844 15 454 Current assets Inventories 37 0 32 Trade receivables 139 120 222 Other current receivables 995 292 852 Prepayments & accruals 1 206 1 003 2 341 Investments 4. 33 299 39 413 36 897 Cash and cash equivalents 4. 5 169 2 151 7 528 Total current assets 40 847 42 979 47 871 Total assets 55 392 56 823 63 326 EUR (thousand) Note 30 June 2026 30 June 2025 31 December 2025 Equity and liabilities Equity Share capital 80 80 80 Reserve for invested unrestricted equity 135 090 135 090 135 090 Retained earnings / accumulated deficit -111 412 -90 350 -104 625 Equity attributable to shareholders of the parent 23 758 44 820 30 545 Total equity 23 758 44 820 30 545 Non-current liabilities Interest-bearing loans and borrowings 3. 9 476 7 420 9 476 Provisions 2 280 0 2 280 Lease liabilities 3. 13 783 245 14 604 Deferred tax liabilities 1 001 1 009 1 031 Total non-current liabilities 26 540 8 673 27 391 Current liabilities Interest-bearing loans and borrowings 3. 4 4 9 Provisions 270 - 270 Lease liabilities 3. 2 009 626 2 174 Trade payables 690 452 606 Accrued expenses 1 511 1 307 1 471 Other current liabilities 610 942 858 Total current liabilities 5 094 3 330 5 389 Total liabilities 31 634 12 003 32 780 Total equity and liabilities 55 392 56 823 63 326
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18 Consolidated Statement of Cash Flows EUR (thousand) Note 1–6/2026 1–6/2025 1–12/2025 Operating activities Result for the period -6 929 -26 291 -40 694 Adjustments to reconcile the result to net cash flows for the period: Income tax expense -31 17 41 Depreciation and impairment 1 227 1 367 13 380 Finance income and expenses 39 -395 - 247 Net result on financial instruments at fair value through profit or loss 32 -203 - 437 Share-based payment expense 142 -57 72 Share of profit from associates and joint ventures 141 1 778 1 817 Impairment of joint ventures 0 18 433 18 433 Bargain purchase gain 7. 0 0 -681 Other non-cash transactions 0 0 15 Change in working capital: Increase (-) / decrease (+) in current non-interest-bearing receivables 1 100 247 - 806 Increase (+) / decrease (-) in current non-interest-bearing liabilities -113 -2 122 -2 601 Increase (-) / decrease (+) in inventories -5 0 6 Net change in working capital 981 -1 875 -3 401 Interest received from operating activities 2 0 8 Interest received and paid -37 -19 -181 Income tax paid 0 0 0 Net cash flow from operating activities (A) -4 433 -7 246 -11 877 Net cash from investing activities Purchase of tangible and intangible assets 2. -352 -109 - 366 Purchase of financial instruments -12 -11 - 23 Proceeds from the sale of investments 4 000 6 501 9 501 Acquisition of subsidiaries, net of cash acquired 0 0 7 371 Investments in associates and joint ventures 5. -55 -812 - 94 8 Net cash from investing activities (B) 3 582 5 568 15 536
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19 Consolidated Statement of Cash Flows EUR (thousand) Note 1–6/2026 1–6/2025 1–12/2025 Net cash from financing activities Repayment of principal portion of lease liabilities 3. -1 50 2 -472 -1 485 Proceeds from borrowings 3. 0 2 324 3 382 Repayments of borrowings 3. -5 -5 -9 Net cash from financing activities (C) -1 507 1 847 1 888 Net change in cash and cash equivalents (A+B+C) increase (+) / decrease (-) -2 358 169 5 546 Cash and cash equivalents at the beginning of the period 4.. 7 527 1 981 1 982 Cash and cash equivalents at the end of the period 4. 5 169 2 151 7 528 EUR (thousand) Note 30 June 2026 30 June 2025 31 December 2025 Cash and cash equivalents 4. 5 169 2 151 7 528 Current investments 4. 33 299 39 413 36 897 Total net liquid funds 38 468 41 564 44 425 The funds included in the current investments are an integral part of Spinnova’s cash management. They are highly liquid instruments and can be sold at current market prices quickly when needed.
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20 DISCLAIMER Certain statements in this communication may constitute forward looking statements. These statements are based on assumptions that are believed to be reasonable at the time they are made and are subject to risks and uncertainties. You should not rely on these forward-looking statements as predictions of future events. Our actual results may differ materially and adversely from any forward-looking statements discussed on this call due to several factors.