Interim report
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Half-Year Report January-June 2026 1
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Half-Year Report January-June 2026 2 Spinnova Plc’s Half-Year Report January-June 2026 (unaudited) In January-June 2026, Spinnova progressed the test runs at the Woodspin demonstration plant while continuing to develop an ecosystem that brings together partners from across the textile value chain. January-June 2026 (Comparison figures in parentheses are for the same period in 2025 if nothing else is communicated ) Financial • Revenue was EUR 286 thousand (EUR 100 thousand). • Operating result for the period was EUR -6 889 thousand (EUR -26 873 thousand). The improvement in operating result was mainly due to an impairment loss of EUR 18 433 thousand recognised in the corresponding period of the previous year in relation to Spinnova’s shares of the joint venture Woodspin. • Total investments were EUR 381 thousand (EUR 972 thousand). • Net cash at the end of the period was EUR 13 196 thousand (EUR 33 269 thousand). 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. • At the time of preparation of the half-year report, Spinnova’s liquid funds amounted to EUR 38 468 thousand, consisting of cash and cash equivalents and short-term investments. • The number of permanent employees at the end of the period was 58 (51). Operational & strategic • Spinnova announced the start of trial runs at the Woodspin demonstration plant and is preparing to restart production • Spinnova expanded its ecosystem to advance the scale-up of its technology: o Spinnova signed a non-binding Letter of Intent with Tearfil Textile Yarns to support the availability and industrial adoption of SPINNOVA® fib re. o Spinnova signed a non-binding Letter of Intent with INSIDER regarding access to SPINNOVA® fib re for future collections. o Circulose joined Spinnova’s ecosystem as a key circularity partner with raw material based on recycled textiles. o Sulzer joined the ecosystem, contributing its expertise and supporting the development of Spinnova’s technology. o NZ TEX GROUP joined the Spinnova ecosystem to support the scaling of the fibre. • JJXX, the womenswear brand of JACK & JONES, introduced new outfits made with SPINNOVA® fibre into its collection. • ECCO released a limited edition of ECCO BIOM® 720 shoes developed in collaboration with Spinnova, using an innovative protein-based textile fibre. Management & personnel • Spinnova appointed Mikko Lassila as Chief Commercial Officer and a member of the Management Team. After the reporting period • Spinnova Plc’s Chief Product and Sustainability Officer and member of the Management Team, Shahriare Mahmood, informed the company of his decision to leave his position. He will remain in his role until 20 October 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. Group key figures1 1) The company’s potential dilutive instruments consist of stock options and other share-based incentives. As the company’s business has been unprofitable, stock options would have an anti-dilutive effect and therefore they are not considered in measuring the dilutive loss per share. Thus, there is no difference between the undiluted and diluted loss per share. The number of shares used in the key performance indicators table is found in the Appendix on page 2 5. This January-June Half-Year Report was prepared according to the requirements in IAS 34 (Interim Financial Reporting) standard. The information for the entire financial year 2025 is based on the published audited IFRS financial statements for 2025. Outlook Financial Guidance for 2026 Spinnova will not give financial guidance for the year 2026. 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
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Half-Year Report January-June 2026 3 Comments from the CEO and Chair of the Board, Janne Poranen During the first half of the year, we strengthened our commercial capabilities, initiated test runs at the Woodspin demo factory, and continued developing the ecosystem of partners across the textile value chain. Under the leadership of Chief Commercial Officer Mikko Lassila, who was appointed earlier this year, we have accelerated collaboration with both existing and new brand partners, while discussions with potential ecosystem partners have remained active. We have received positive market feedback on the properties of SPINNOVA® fibre. It is also evident that there is strong interest in, and preliminary commitment to the broader commercial adoption of our fibre. In April, we announced the start of test runs at the Woodspin demo factory and our objective to advance preparations for the restart of the facility. During the test runs, we validated solutions previously developed at pilot scale to improve production efficiency and fibre quality. The initial test runs were completed as planned, and we quickly achieved production volumes and quality levels comparable to the factory's previous operating performance. These results support our view of the production concept's functionality and operational flexibility. We continue to focus on improving cost efficiency in both pilot and demo factory environments. At the same time, together with our partners, we are optimising production at a scale smaller than the demo factory. The objective is to further develop the future factory concept in a cost-efficient manner. During the autumn, we will continue test runs and prepare for a broader production ramp-up. Based on discussions with both existing and potential new partners, it is already clear that commercial demand for SPINNOVA® fibre exceeds current capacity. In raw material development, we have seen growing interest particularly in recycled textile-based and recyclable solutions. We have carried out systematic development work in this area and are now aiming to expand the use of recycled textiles as a raw material. In addition, interest in utilising agricultural side streams as feedstock for textile fibres has increased in several markets, including India. These developments further support interest in Spinnova's technology, which enables the conversion of recycled raw materials into textile fibre. At Respin, we progressed to the launch of a commercial product. In collaboration with Spinnova, ECCO launched a limited edition of BIOM® 720 shoes incorporating the leather waste-based protein fibre. The product was well received, and the launch increased interest in leather waste-based fibre solutions. Interest has been particularly strong among luxury brands, and we have initiated development work with a new partner that has also generated revenue for Respin.
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Half-Year Report January-June 2026 4 Market conditions in the textile fibre industry remained challenging, particularly in Europe, where several fibre technologies have faced commercialisation and cost competitiveness challenges. We see opportunities for Spinnova in this environment, as we offer an alternative to dissolution-based fibre technologies, combining natural fibre-like properties with compatibility across a range of fibre blends. SPINNOVA® fibre is positioned closer to natural fibres such as wool and linen. These fibres are typically priced above mainstream textile fibres, and in this respect SPINNOVA® fibre is competitive in terms of operating production costs. After the review period, we announced our intention to pursue a public offering in the United States and to apply for the listing of our shares on the Nasdaq Capital Market. A potential U.S. listing would provide access to a broader investor base and support the execution of our strategy, the development of our licensing model, and our position in the global textile industry. At the same time, we continue discussions with potential partners regarding future production and licensing opportunities in the United States. We believe a local presence would support collaboration with global brands and strengthen our position in key markets. Following the review period, changes were announced in our Management Team. Chief Product and Sustainability Officer Shahriare Mahmood informed us of his decision to leave the company. I would like to thank Shahriare for his significant contribution to the development of Spinnova's product and sustainability work over the years and wish him every success in the future. In July, we appointed Sampo Immonen as Chief Technology Officer to support the industrial scaling of our technology. Sampo strengthens our team with extensive experience in machinery and technology development. Juha Salmela will continue as a member of the Management Team, responsible for technology strategy and innovations, focusing on the development of future technologies, intellectual property, and strategic opportunities. The first half of the year demonstrated continued progress toward our objectives in commercialisation, technology development, and ecosystem building. I would like to thank our partners and shareholders for their continued trust in Spinnova. I also want to thank our employees for their strong commitment. The progress achieved during the period provides a solid foundation for the next stages of our journey. Janne Poranen CEO and Chair of the Board Strategy The company's main goal is to improve the cost efficiency of the production process, and to build an ecosystem of companies to advance the scaling of Spinnova’s technology. Priorities in 2026 are: • To develop Spinnova’s technology to be more cost competitive. The fibre works currently already in many applications, but production costs are still too high. • To further develop the SPINNOVA® fibre properties, also for non -textile applications. • Select wood-based and other cellulose raw materials for the Spinnova process. • To build an international ecosystem of companies to advance the scaling of Spinnova’s technology. • To continue promoting the 50/50 joint venture with ECCO, Respin’s leather waste-based fibre commercialisation goals. • To target EUR 500 000 annual cost savings through consolidation of Spinnova’s sites in Jyväskylä, Finland. Market environment The fashion and textile industries are sensitive to macroeconomic shifts. High inflation typically curbs discretionary spending by consumers, with demand further affected by increasing uncertainty and rising barriers to international trade, including tariffs, import restrictions, geopolitical trade tensions, and supply chain disruptions. The man-made cellulosic fibre (MMCF) sector rebounded strongly in the first half of the year. The viscose market (holding the largest share of MMCFs) experienced both price and volume increases, with the overall market sentiment remaining optimistic. The lyocell market (the fastest growing MMCF) also experienced strong performance as down- stream applications expanded during the typical peak lyocell consumption period. The European MMCF industry continues to face structural cost disadvantages relative to Asia due to higher operating costs and an older production asset base. Consequently, European producers are increasingly focused on higher value-added and specialty fibre segments where differentiation can offset cost pressures. Rising cotton prices, along with market risks associated with synthetic fibres, drove part of fibre demand toward cellulose prices throughout H1 2026.
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Half-Year Report January-June 2026 5 The significant expansion of lyocell capacity in Asia, particularly in China, has affected market dynamics in recent years. However, Spinnova does not view this development as a threat to its business. Compared to lyocell, SPINNOVA® fibre has distinct and unique properties that are closer to those of natural fibres, making it suitable for different end-use applications. Spinnova has blended its fibre with lyocell to produce fabrics incorporating benefits of both fibres, where the former enhances the natural hand feel. The significant increase in lyocell capacity in recent years has translated into increased demand for lyocell-grade dissolving wood pulp. Some existing players with Latin American assets have been able to ramp up their output, and the use of modified paper-grade pulp as a dissolving wood pulp extender has also been a growing trend to fill this demand gap and reduce costs for fibre producers. Interest in recycled textile waste-based pulp remains and commitment by brand owners to use fibres produced from these raw materials is still present. Spinnova anticipates that the demand for recycled feedstock-based fibres will only increase in the future, particularly in Europe, where regulations such as the revised Waste Framework Directive, will drive uptake. In addition, other sources of waste-based pulp such as that from agricultural residues, could also become more relevant as the industry adjusts to the changing market dynamics. Due to its unique inherent properties, SPINNOVA® fibre's market positioning is closer to natural fibres such as wool and linen. Wool, the largest protein fibre in the textile industry, with 2024 production at 1 million tonnes (cleaned) 2, has experienced a steady decline over the years, but is now in a period of recovery as the fibre is increasingly popular in blends and new categories2. Linen, a niche natural fibre primarily grown in Europe, with a production output estimated to be 300 000 tonnes/annum2, has also experienced an upward trend in recent years, driven by premiumisation as well as sustainability. Both wool and linen command higher price points compared to mainstream fibres. In 2025, the global apparel and footwear market was valued at 1.8 trillion USD3. ESG trends and evolving regulatory frameworks continue to shape the textile industry’s future. Increasing pressure from governments, investors, and consumers to reduce environ- mental impact is accelerating the shift toward sustainable materials and circular business models. Regulatory developments and stricter carbon reporting requirements are expected to influence sourcing decisions and innovation priorities across the value chain. Spinnova’s fibre, with its low-impact production and recyclability, is well-positioned to meet these emerging standards and capitalise on the growing demand for sustainable alternatives. Beyond the apparel sector, SPINNOVA® fibre has potential in end-use applications where integration of additives at fibre level is seen as beneficial. These fibres, with enhanced functionality, can be used in e.g., various technical textiles including specialty nonwovens. Using SPINNOVA® fibre as an insulating material in place of down or polyester in technical applications also shows promise as the thermal insulating properties of the fibre is the same as wool. The global technical textiles market was valued at 193 billion USD in 2020, growing at a 5% CAGR during 2020-2027 4. Spinnova has also been collaborating with its partners on developing protein-based fibre using leather waste and exploring the potential of recycled textiles as an additional feedstock. In 2023, production of leather (as measured by the weight of raw hides) totalled 13.4 million tonnes 5. The fibre properties of leather-based SPINNOVA® fibre are distinct from those made of cellulose materials, and commercial potential lies in using these fibres in footwear and luxury products, among other end-uses. Sources: 1. The Fiber Year 2025, World Survey on Textiles and Nonwovens. 2. Australian Wool Innovation Ltd (January 2026) 3. Euromonitor International (March 2026) 4. Technical Textiles: Emerging Opportunities and Investments, KPMG (March 2021) 5. Materials Market Report 2024, Textile Exchange
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Half-Year Report January-June 2026 6 Financial Review for Spinnova Group 1 January – 30 June 2026 Revenue Spinnova’s revenue was EUR 286 thousand (EUR 100 thousand) for the period ended 30 June 2026. During the period, most of the revenue was derived from sales of technology services to the joint venture Respin. Profitability Spinnova’s operating result was EUR -6 889 thousand (EUR -26 873 thousand) for January- June 2026. The improvement in the operating result was mainly due to the EUR 18 433 thousand impairment loss recognised in the comparative period relating to the Company's investment in the Woodspin joint venture. In addition, losses from joint ventures were lower than in the comparative period. The 2026 operating result continued to be burdened by costs related to business development, preparations for the production ramp-up, and commercialisation. Spinnova’s personnel expenses were EUR 3 456 thousand (EUR 3 641 thousand) for the period that ended 30 June 2026. Depreciation was EUR 1 227 thousand (EUR 1 367 thousand) for the period that ended 30 June 2026. Other operating expenses were EUR 2 470 thousand (EUR 2 311 thousand) for the period that ended 30 June 2026. The share of results in joint venture was EUR -141 thousand (EUR -1 778 thousand) for the period that ended 30 June 2026. The decrease in the loss recognised from joint ventures was due to the termination of the joint venture arrangement relating to Woodspin Oy as a result of the acquisitions in October 2025. Financial income was EUR 435 thousand (EUR 657 thousand) for the period that ended 30 June 2026 due to the positive development of Spinnova’s current investments. Financial expenses were EUR -506 thousand (EUR -59 thousand) for the period that ended 30 June 2026. Financial expenses consisted mainly of paid interest related to the company’s interest-bearing borrowings. Financial position and cash flow Spinnova’s total assets at the end of the review period totalled EUR 55 392 thousand (EUR 56 823 thousand). Equity totalled EUR 23 758 thousand (EUR 44 820 thousand). Cash and cash equivalents and current investments totalled EUR 38 468 thousand (EUR 41 564 thousand). The position at the end of the reporting period was negatively affected by its loss. Spinnova’s net cash flow from operating activities in January–June 2026 was EUR -4 433 (EUR -7 246 thousand). The loss for the reporting period had a negative impact on cash flow from operating activities. Changes in working capital improved cash flow from operating activities, primarily due to a decrease in receivables following grant payments received at the completion of a Business Finland project. The change in net working capital for the period was EUR 981 thousand (EUR -1 875 thousand). Cash flow from investing activities was EUR 3 582 thousand (EUR 5 568 thousand). Most of the positive cash flow from investing activities was related to proceeds from the sale of financial instruments. During the period investments in joint ventures of EUR -55 thousand (EUR -812 thousand) were significantly lower than in the same period last year. Cash flow from financing activities was EUR -1 507 thousand (EUR 1 847 thousand) during the period that ended 30 June 2026. The cash flow from financing activities was negative mainly as a result of repayments of lease liabilities. Investments, research and development Spinnova’s investments in tangible and intangible assets totalled EUR 326 thousand (EUR 160 thousand), of which investments in patents was EUR 106 thousand (EUR 160 thousand) and investments in machinery and equipment EUR 220 thousand (EUR 0 thousand) for the period ending 30 June 2026. During the period under review, Spinnova's research and development teams focused on fibre quality, the development of new raw materials, and development work aimed at reducing technology production and investment costs. Due to these emphases, there were no significant investments made in technology development during the review period. In January-June 2026, the company invested EUR 55 thousand (EUR 812 thousand) in its joint venture. Spinnova has invested in the Respin joint venture a total of EUR 773 thousand by 30 June 2026. Commitments and guarantees On 30 June 2026, Spinnova’s liabilities and guarantees to joint venture consist of EUR 1 250 thousand investments into the joint venture Respin if the company proceeds to the commercial phase. In addition, Spinnova has an unconditional guarantee of EUR 836 thousand related to the lease agreement for Woodspin’s production facilities.
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Half-Year Report January-June 2026 7 Personnel Spinnova’s number of permanent employees was 58 (51) at the end of the period January- June 2026, and on average 71 (54) for the period. The total number of Spinnova’s employees was 66 (58) on 30 June 2026, including 8 (7) fixed term employees. At the end of 2025, Spinnova’s number of permanent employees was 84. The decrease in the Group’s personnel is due to the prolonged temporary layoffs in the Woodspin and Spinnova Refining subsidiaries and the subsequent resignations of employees affected by these layoffs. Changes in Group Management Mikko Lassila was appointed Chief Commercial Officer and a member of Spinnova’s Management Team on 9 January 2026. After the review period, Shahriare Mahmood, Spinnova’s Chief Product and Sustainability Officer and a member of the Management Team, announced on 21 July 2026 that he will leave the company. He will continue in his current role during his three-month notice period. After the review period, Sampo Immonen was appointed Chief Technology Officer (CTO) and a member of Spinnova’s Management Team on 30 July 2026. He will start in his position latest on 1 October 2026. Juha Salmela, previously Chief Technology Officer, will continue as a member of Spinnova’s Management Team in the role of Chief Technology Strategy and Innovation Officer (CTSIO). As of 1 October 2026, Spinnova’s Management Team consists of: Janne Poranen Chief Executive Officer (CEO) Santeri Heinonen Chief Finance (CFO) and People Officer Sampo Immonen Chief Technology Officer Mikko Lassila Chief Commercial Officer Shahriare Mahmood Chief Product and Sustainability Officer (until 20 October 2026) Juha Salmela Chief Technology Strategy and Innovation Officer Johanna Valkama General Counsel Shares and shareholders Spinnova’s share is listed on the Nasdaq First North Growth Market Finland. Spinnova’s share capital is EUR 80 thousand. Spinnova has one series of shares. All the shares have one vote in the general meeting of shareholders and have equal rights to dividends. The ISIN code of the shares is FI4000507595, and the trading code is SPINN. As of 30 June 2026, Spinnova had 29 691 (32 882) shareholders. Of the shares, 21 (20.3) percent were held by nominee registered shareholders. The company does not currently hold any of its own shares. The following table presents Spinnova’s ten largest shareholders by number of shares based on the shareholders’ register kept by Modular Finance Ab and Euroclear Finland Ltd as of 30 June 2026. Shareholder Number of shares Of all shares and votes, % Suzano S.A 9 808 529 18.75 Besodos Investors Oy 4 048 680 7.74 Maki.vc Fund I Ky 3 540 300 6.77 Beata Domus Ab 3 348 238 6.40 Janne Poranen 2 663 030 5.09 Holdix Oy Ab 2 187 510 4.18 Juha Salmela 1 979 218 3.78 Timo Soininen 1 356 794 2.59 Turret Oy Ab 1 100 000 2.10 Ella Inkeri Salmela 1 072 770 2.05 Ten largest shareholders, total 31 105 069 59.46 Other shareholders, total 21 211 920 40.54 In total 52 316 989 100.00
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Half-Year Report January-June 2026 8 Spinnova shares on Nasdaq First North Growth Market 1Volume weighted average. Market capitalisation at the end of June 2026 totalled approximately EUR 23 million. The Annual General Meeting and the Board of Directors The Annual General Meeting (hereinafter the “AGM”) of Spinnova Plc was held on 15 April 2026 at 1:00 p.m. without a meeting venue via real-time remote access as a virtual meeting. The AGM adopted the financial statements for the financial year 2025 and discharged the members of the Board of Directors and the CEO from liability for the financial year 2025, and approved all proposals made by the Board of Directors and the Shareholders’ Nomination Board to the AGM. The AGM also adopted, through an advisory resolution, both the Remuneration Report of the company’s governing bodies for the financial year 2025 and the updated Remuneration Policy of the company’s governing bodies. Use of the profit shown on the balance sheet The AGM resolved that no dividend be distributed on the basis of the balance sheet adopted for the financial year ended 31 December 2025 and that the loss of the financial year be recorded in the retained earnings. Remuneration of the members of the Board of Directors The AGM resolved that the following fixed monthly remuneration shall be paid to the Board of Directors: The Chair will be paid EUR 6,000 and Board Members EUR 2,000 each. No separate deputy chair, meeting or committee member fees will be paid. Travel costs will be reimbursed in accordance with the company’s travel policy. As additional information, it is noted that the Chair of the Board, Janne Poranen, has announced that he will not collect the remuneration offered to the Chair while serving as CEO of Spinnova. Authorising the Board of Directors to resolve on the issuance of shares and special rights entitling to shares The AGM resolved that the Board of Directors is authorised to resolve on the issuance of shares and special rights entitling to shares referred to in Chapter 10, Section 1 of the Finnish Limited Liability Companies Act as follows: The total number of shares that may be issued under the authorisation may not exceed 5,220,000 shares, which corresponds to approximately 10 percent of all shares in the company. The Board of Directors resolves upon all terms and conditions of the share issue and of the issuance of special rights entitling to shares. The authorisation covers both the issuance of new shares and the transfer of treasury shares. Shares and special rights may be issued without payment or at a subscription price determined by the Board of Directors. The issuance of shares and special rights entitling to shares referred to in Chapter 10, Section 1 of the Finnish Limited Liability Companies Act may, subject to the conditions set out in the Finnish Limited Liability Companies Act, be made in deviation from the shareholders’ pre- emptive subscription rights (directed issue). The authorisation cancels the authorisation granted by the General Meeting in April 2025 to resolve on the issuance of shares and special rights entitling to shares. The authorisation is valid until 30 June 2027. Members of the Board of Directors The AGM resolved that the number of members of the Board of Directors for the term of office ending at the close of the Annual General Meeting 2027 is unchanged at seven (7). The AGM resolved to re-elect Janne Poranen, Petri Kalliokoski, Hanna Liiri, Vesa Silaskivi, Sebastian Vinsten, Jari Vähäpesola, and Carlos Aníbal de Almeida Jr. as members of the Board of Directors for a term of office ending at the close of the Annual General Meeting 2027. The elected members of the Board of Directors, with the exception of Janne Poranen due to his CEO agreement with the company as well as Carlos Aníbal de Almeida Jr., due to him belonging to the operative management of Suzano S.A., which during the past year had a close cooperation relationship with Spinnova, are independent of the company and the January-June 2026 No. of shares traded Average daily turnover EUR High EUR Low EUR Average1 EUR Last EUR SPINN 4 765 656 18 372 0.59 0.41 0.45 0.44
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Half-Year Report January-June 2026 9 significant shareholders of the company. The company’s definition of independence of members of the Board of Directors complies with the Securities Market Association’s Finnish Corporate Governance Code (2025). At the Board of Directors’ constitutive meeting held after the AGM, the Board of Directors of Spinnova Plc elected Janne Poranen as its Chair and Petri Kalliokoski as the Deputy Chair. Due to the current development stage and special circumstances of the company, the company deviates from recommendation number 21 of the Securities Market Association’s Corporate Governance Code (2025), which concerns the separation of the roles of the CEO and Chair of the Board of Directors. The Board of Directors elected Vesa Silaskivi as Chair and Hanna Liiri and Petri Kalliokoski as members of the Audit Committee. The members and duties of the Board Committees are further described at https://spinnovagroup.com/board-of-directors/board-committees/. Share based incentives Spinnova has established stock option programmes, a Matching Share Plan and a Performance Share Plan covering, among others, employees, and the members of the Board of Directors and the Management Team of the company. Spinnova has three separate option plans for its key personnel, which have been initiated between 2018 and 2022. The purpose of all Spinnova’s incentive programmes is to align the interests of Spinnova and its key personnel, motivate the employees to own Spinnova's shares, increase their commitment and thus increase the shareholder value in the long term. All these programmes are equity settled transactions and thus Spinnova (as a parent company) does not have any cash-settlement alternatives. Based on the option programmes, a total of 1 335 210 shares can be subscribed, considering deducted forfeited options. Of this amount 1 335 210 options were allocated and not yet exercised on 30 June 2026, which corresponds to a maximum approximately 2.55 percent of the diluted share amount. During 1 January - 30 June 2026, no new shares of Spinnova Plc were subscribed to with the company’s stock options. The Board of Directors of Spinnova Plc resolved on 20 March 2024 on the establishment of a Matching Share Plan for the CEO and the members of the Management Team. The plan ended on 31 December 2025. Based on the authorisation granted by the Annual General Meeting of shareholders on 9 April 2025, the Board of Directors of Spinnova Plc resolved on a directed share issue without consideration to the participants of the Matching Share Plan in order to deliver the share rewards. In the share issue, 20 654 new shares in the company was, in deviation from the shareholders’ pre-emptive subscription right, issued without consideration to the participants of the Matching Share Plan in order to deliver the rewards under the plan. The share rewards under the Matching Share Plan were delivered to Shahriare Mahmood, Juha Salmela, and Santeri Heinonen. The new shares issued in the share issue were entered into the Trade Register on 2 March 2026 and applied for public trading on 3 March 2026. Following the entry of the new shares into the Trade Register, the total number of shares in the company is 52 316 989. The 2024-2026 vesting period of the Performance Share Plan consists of 11 individuals, including the members of the management team. The total value of the compensation for the first vesting period will correspond to a maximum of approximately 448 000 Spinnova Plc shares, including the cash portion. The vesting criteria for the first performance period 2024-2026 of the plan are based on the company's operating result (EBIT) in the financial year 2026 and the company's technology sales volume by the end of 2026. Detailed information on incentive programmes can be found at https://spinnovagroup.com/corporate-governance/remuneration/ Expense recognised for employee services received EUR (thousand) 1–6/2026 1–6/2025 1–12/2025 Option Plan 2020 0 27 3 Option Plan 2022 -75 64 -19 Matching Share Plan 2024 -10 -3 -9 Performance Share Plan 2024-2028 -57 -31 -46 Total expense arising from share-based payment transactions -142 57 -72
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Half-Year Report January-June 2026 10 Shares owned by the Board and the Management Team The Board of Directors and the Management Team have shareholdings in the company, and the company has granted stock option rights to them. On 30 June 2026 , the Board and Management Team holdings in the company were 9 percent of shares and votes. In addition, the company’s Board and Management Team had stock options issued by the company entitling the holders, if vested, to subscribe to a total of 680 000 sh ares. At the balance sheet date of 30 June 2026, the Company’s management held 59 125 exercisable share options, entitling them to subscribe for a total of 378 125 shares in the Company. Auditors The AGM resolved to re -elect PricewaterhouseCoopers Oy, Authorised Public Accountants, as the company’s auditor for a term of office ending at the close of the next Annual General Meeting. Jukka Torkkeli, APA, will continue as the auditor with principal responsibility. The AGM resolved that the remuneration of the auditor will be paid against the auditor’s reasonable invoice. Near-term risks and uncertainties Spinnova's business is still in a development phase, and the company faces several near- term risks and uncertainties that may affect its ability to achieve its strategic goals. Spinnova is exposed to strategic, operational, financial and market risks that could negatively impact its business, financial performance, or assets. Scaling and commercialising the technology are key success factors, but involve uncertainties related to the efficiency of the production process, increasing production capacity, cost competitiveness, product quality and market acceptance of the technology. Revenue from technology sales depends on customers’ investment decisions, their timing and the progress of projects, which may cause variations in revenue and cash flow. The company manages risks related to scaling and commercialisation by progressing in phases, utilising pilot and demonstration production facilities, and building an international ecosystem to support the development of the technology and product and their commercial adoption. The plan to restart production at the Woodspin demoplant involves risks related to performance of the production process, production quality, cost efficiency and the achievement of planned production volumes. Potential delays or unexpected technical challenges may slow the company’s progress toward commercialisation. Market risks are increased by competition between different fibre technologies and material solutions, the growing production capacity of cellulose-based fibres, and the potentially slower-than-expected adoption of sustainable materials in the textile and fashion industries. In particular, growing production capacity in Asia and cost-efficient fibre production may increase competition and price pressure in the market. Macroeconomic uncertainty, changes in demand and customers’ focus on cost efficiency may slow the adoption of new materials and the commercialisation of the technology. Protecting intellectual property rights and ensuring freedom to operate in international markets are key to maintaining the company’s technological competitive advantage. Financial risks are related to the adequacy of financing and cash flow management. Following the reporting period, the company announced that it was planning an initial public offering in the United States and a secondary listing of its shares on the Nasdaq Capital Market. The completion of a potential initial public offering depends, among other things, on market conditions, regulatory approvals, shareholder decisions and other conditions for completion. There is no assurance that the planned transaction will be completed as planned or at all. The company also actively monitors the potential impact of changes in the geopolitical situation, trade policy and supply chains on its business and adjusts its operations and plans, as necessary. Event after reporting period After the reporting period, Spinnova announced changes to the company’s management team. Shahriare Mahmood, Chief Product and Sustainability Officer and member of the Management Team, has decided to leave the company and will continue in his current position during his three-month notice period. Spinnova appointed Sampo Immonen as Chief Technology Officer and member of the Management Team. Immonen will start his position no later than 1 October 2026. Juha Salmela, who previously served as Chief Technology Officer, will continue as a member of the Management Team in the role of Chief Technology and Innovation Officer. In addition, Spinnova announced plans for a public offering in the United States and a concurrent listing of its shares on the Nasdaq Capital Market. If the offering is completed, the company plans to use the net proceeds to support the ramp-up of the Eteläportti demonstration plant, advance the commercialisation of its technology and for general corporate purposes. The offering is expected to take place following the completion of the SEC review process, subject to market conditions and other conditions for completion. In Jyväskylä, 31 August 2026 Spinnova Plc Board of Directors
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Half-Year Report January-June 2026 11 Condensed Financial Information January– June 2026 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 -40 694 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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Half-Year Report January-June 2026 12 Consolidated Statement of Financial Position 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 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
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Half-Year Report January-June 2026 13 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 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 - 948 Net cash from investing activities (B) 3 582 5 568 15 536 Net cash from financing activities Repayment of principal portion of lease liabilities 3. -1 502 -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
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Half-Year Report January-June 2026 14 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. Consolidated statement of changes in equity 1–6/2026 Attributable to the equity holders of the parent EUR (thousand) Share capital Fund for un-restricted equity Retained earnings Total Equity on 1 Jan. 2026 80 135 090 -104 625 30 545 Profit for the period -6 929 -6 929 Other comprehensive income 0 Total comprehensive income 0 0 -6 929 -6 929 Transactions with owners Share-based payments 142 142 Share issue 0 Equity on 30 June 2026 80 135 090 -111 412 23 758
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Half-Year Report January-June 2026 15 1–6/2025 Attributable to the equity holders of the parent EUR (thousand) Share capital Fund for un-restricted equity Retained earnings Total Equity on 1 Jan. 2025 80 135 090 -64 002 71 168 Profit for the period -26 291 -26 291 Other comprehensive income 0 Total comprehensive income 0 0 -26 291 -26 291 Transactions with owners Share-based payments -57 -57 Share issue 0 Equity on 30 June 2025 80 135 090 -90 350 44 820 1–12/2025 Attributable to the equity holders of the parent EUR (thousand) Share capital Fund for un-restricted equity Retained earnings Total Equity on 1 Jan. 2025 80 135 090 -64 002 71 168 Profit for the period -40 694 -40 694 Other comprehensive income 0 Total comprehensive income 0 0 -40 694 -40 694 Transactions with owners Share-based payments 72 72 Share issue 0 Equity on 31 Dec. 2025 80 135 090 -104 625 30 545
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Half-Year Report January-June 2026 16 Notes to the Financial Report General Information Spinnova Plc (the “company” or the “parent company”) and its subsidiaries (together “Spinnova”, the “Spinnova group” or the “group”) are primarily focused on providing technology deliveries and services related to the production of sustainable textiles. The business ID of Spinnova Plc (Oyj) is (2653299-6) and the company headquarters are located at Palokärjentie 2-4, 40320 Jyväskylä. The group’s Half-Year Report consists of the parent company Spinnova Plc and its subsidiaries Woodspin Oy, Spinnova Refining Oy, and Spinnova Holdings Oy, as well as the joint venture company Respin Oy. Spinnova Oyj is a publicly listed company on Nasdaq First North Growth Market Finland. Spinnova is incorporated and domiciled in Finland. The registered office is in Jyväskylä, Finland. Basis of Preparation This Half-Year Report has been prepared in accordance with the requirements in IAS 34 (Interim Financial Reporting) standard. The information concerning the financial year 2025 is based on the audited IFRS financial statements for 2025 that were published on 12 February 2026. The figures are presented in euros, and all values are rounded to the nearest thousand, except when otherwise indicated. Consequently, the sum of individual numbers may deviate from the presented sum figure due to rounding differences. The comparative year information is presented in a separate column after the information for the current financial year. The Half-Year Report is unaudited. Accounting policies, estimates and judgements applied in the preparation of the Financial Statements and Half-year reports The preparation of Spinnova’s consolidated financial statements and Half-Year Reports requires the management to use judgement, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures. Uncertainty about these assumptions and estimates could result in outcomes that require material adjustment to the carrying amount of assets or liabilities affected in future periods. Actual results may differ from these estimates. In preparing the interim financial information, the significant accounting estimates and judgments made by management are consistent with those applied in the consolidated financial statements for the financial year ended 31 December 2025. The financial information presented here does not include all the notes presented in the annual financial statements and the financial information must be read in conjunction with the financial statements for the financial year ended 31 December 2025. Structural and financial arrangements Between 1 January and 30 June 2025, no new shares of Spinnova Plc were subscribed with the company’s stock options. The AGM held on 15 April 2026 authorised to resolve the issuance of shares and special rights entitled to shares. The total number of shares that may be issued under the authorisation may not exceed 5 220 000 shares, which corresponds to approximately 10 % of all current shares in the company. The authorisation cancels the authorisation granted by the General Meeting in April 2025 to resolve on the issuance of shares and special rights entitled to shares. The authorisation is valid until 30 June 2027. Going concern principle The Half-Year Report has been prepared on a going concern basis. Management has assessed the ability of the parent company and the Group to continue as a going concern for at least 12 months after the reporting date. The assessment has taken into account the risks related to the business, available financing options and other material factors. At the time of preparation of the Half-Year Report, Spinnova’s liquid funds amounted to EUR 38 468 thousand, consisting of cash and cash equivalents and short-term investments. Correspondingly, finance and lease liabilities amounted to a total of EUR 25 272 thousand. Accordingly, the Group is not exposed to any significant liquidity risk. Based on the Group’s current business plans, the Group’s financial resources are sufficient to continue operations. The funds included in short-term investments are highly liquid and can be realised quickly at fair market value, if necessary. The contractual maturity profile of debt items is presented in Note 3.1. The amount of debt, including interest, maturing within the next 12 is EUR 2 890 thousand, which is moderate in relation to the Group’s liquid assets. Management regularly monitors and assesses business forecasts and related cash flows in order to ensure adequate liquidity to support the continuity of the Group’s operations. Management has not identified any material uncertainties that would cast significant doubt on the Group’s ability to continue as a going concern.
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Half-Year Report January-June 2026 17 1. Revenues from contracts with customers 1.1. Geographical markets EUR (thousand) 1–6/2026 1–6/2025 1–12/2025 Finland 216 80 315 Others 70 19 29 Total 286 100 344 1.2. Timing of revenue recognition EUR (thousand) 1–6/2026 1–6/2025 1–12/2025 Services transferred over time 286 100 344 Total 286 100 344
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Half-Year Report January-June 2026 18 2. Changes in intangible and tangible assets 2.1. Intangible assets EUR (thousand) Patents and Trademarks Development costs Assets under development Total Acquisition cost 1 Jan. 2025 1 723 14 745 0 16 467 Additions 0 0 160 160 30 June 2025 1 723 14 745 160 16 627 Additions 0 0 203 203 Reclassifications 363 0 -363 0 31 Dec. 2025 2 085 14 745 0 16 830 Additions 0 0 106 106 30 June 2026 2 085 14 745 106 16 937 Amortisation and impairment 1 Jan. 2025 -642 -5 528 0 -6 170 Amortisation -75 -744 0 -818 30 June 2025 -716 -6 272 0 -6 988 Amortisation -75 -744 0 -818 31 Dec. 2025 -791 -7 015 0 -7 806 Amortisation -93 -744 0 -836 30 June 2026 -884 -7 759 0 -8 643 Book value, EUR (thousand) 30 June 2026 1 202 6 986 106 8 294 31 Dec. 2025 1 294 7 729 0 9 024 30 June 2025 1 006 8 473 160 9 639
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Half-Year Report January-June 2026 19 2.2. Property, plant, and equipment EUR (thousand) Machinery & equipment Assets under construction Total Acquisition cost 1 Jan. 2025 2 400 0 2 400 Additions 0 0 0 Reclassification 0 0 0 30 Jun. 2025 2 400 0 2400 Additions 359 0 359 Reclassification 0 0 0 31 Dec. 2025 2 759 0 2 759 Additions 220 0 220 Reclassification 0 0 0 30 June 2026 2 979 0 2 979 Depreciation and impairment 1 Jan. 2025 -558 0 -558 Depreciation -101 0 -101 30 Jun. 2025 -659 0 -659 Depreciation -101 0 -101 31 Dec. 2025 -1 347 0 -1 347 Depreciation -63 0 -63 30 June 2026 -1 409 0 -1 409 Book value, EUR (thousand) 30 June 2026 1 569 0 1 569 31 Dec. 2025 1 412 0 1 412 30 June 2025 1 741 0 1 741
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Half-Year Report January-June 2026 20 2.3. Leases Right-of-use assets EUR (thousand) Right-of-use assets, buildings Right-of-use assets, PPE Total 1.1.2025 1 094 132 1 226 Additions 94 0 94 Disposals 0 -32 -32 Depreciations -410 -38 -448 30.6.2025 778 62 840 1.1.2025 1 094 132 1 226 Additions 9 754 1 013 10 767 Disposals 0 -39 -39 Impairment losses -8 838 -698 -9 535 Depreciations -1 284 -135 - 1 419 31.12.2025 726 273 999 1.1.2026 726 273 999 Additions 1 88 89 Disposals 0 0 0 Depreciations -264 -64 -328 30.6.2026 464 297 760
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Half-Year Report January-June 2026 21 3. Changes in the interest-bearing liabilities 1–6/2025 EUR (thousand) Opening balance 1 Jan. Repayment Proceeds from borrowings Other changes Reporting date balance, 30 June Non-current borrowings 4 579 0 2 324 517 7 420 Current borrowings 525 -5 0 -517 4 Lease liabilities 1 258 -472 0 85 871 Total 6 363 -476 2 324 85 8 295 1–12/2025 EUR (thousand) Opening balance 1 Jan. Repayment Proceeds from borrowings Other changes Reporting date balance, 31 Dec. Non-current borrowings 4 579 0 3 382 1 515 9 476 Current borrowings 525 -9 0 -507 9 Lease liabilities* 1 258 -1 611 0 17 131 16 778 Total 6 363 -1 620 3 382 18 138 26 264 *The significant increase in lease liabilities during the financial year is mainly related to lease agreements transferred to the Group in connection with business acquisitions. The most significant individual lease liabilities relate to the lease of Woodsp in Oy’s demo-scale production facility. 1–6/2026 EUR (thousand) Opening balance 1 Jan. Repayment Proceeds from borrowings Other changes Reporting date balance, 30 June Non-current borrowings 9 476 0 0 0 9 476 Current borrowings 9 -5 0 0 4 Lease liabilities 16 778 -1 502 0 515 15 792 Total 26 264 -1 507 0 515 25 272
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Half-Year Report January-June 2026 22 3.1. Maturity distribution of financial liabilities 4. Net cash The Group’s net cash decreased compared to the 2025 comparison period from EUR 33 269 thousand to EUR 13 196 thousand. A significant part of this change is explained by the increase in lease liabilities, which includes the Woodspin Oy lease agreement of EUR 14 370 thousand. This lease agreement is due for payment at the end of the lease term on 31 October 2034. Current investments include investments for fixed-income funds. These investments are financial instruments measured at fair value at inception and are classified to be subsequently measured at fair value through profit or loss. Spinnova recognises the fair value gains and losses in the statement of profit or loss. The funds and capital protected structured note included in the current investments are highly liquid and can be sold at the current market prices quickly when needed. EUR (thousand) Book value 2026 2027 2028 2029 2030 Over 5 years Total Cash Out-flows Interest-bearing loans and borrowings 9 480 100 697 1 456 1 433 1 420 4 841 9 947 Lease liabilities 15 792 1 502 2 542 2 503 2 352 2 810 8 218 19 927 Trade and other payables 690 690 690 Total 25 962 2 292 3 240 3 959 3 785 4 230 13 059 30 565 EUR (thousand) 30 June 2026 30 June 2025 31 Dec. 2025 Cash and cash equivalents 5 169 2 151 7 528 Current investments 33 299 39 413 36 897 Net cash excluding borrowings and leasing liabilities 38 468 41 564 44 425 Non-current borrowings -9 476 -7 420 -9 476 Current borrowings -4 -4 -9 Non-current lease liabilities -13 783 -245 -14 604 Current lease liabilities -12 009 -626 -2 174 Net cash total 13 196 33 269 18 161
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Half-Year Report January-June 2026 23 5. Related party transactions The related parties of Spinnova Oy comprise the Company’s subsidiaries Spinnova Holdings Oy, Woodspin Oy (from 3 October 2025) and Spinnova Refining Oy (from 3 October 2025), and the joint venture Respin Oy with ECCO. In addition, related parties include the Company’s significant shareholders Suzano and Besodos Investors Oy and their family members, the Members of the Board of Directors and the company’s Management Team and their closely related family members and the entities over which they have control or joint control. The table below presents related party transactions for the reporting period 2026, the comparative period 2025, and the full financial year. The 2025 figures include transactions with Suzano Finland Oy up to 3 October 2025. 5.1. Transaction with related parties EUR (thousand) 1–6/2026 1–6/2025 1–12/2025 Sales to related parties 0 0 0 Purchases from related parties 0 2 2 Receivables 0 0 0 Liabilities 0 1 0 5.2. Transaction with joint venture Transactions with Respin EUR (thousand) 1–6/2026 1–6/2025 1–12/2025 Sales to related parties 155 173 279 Recharged rental costs 19 38 77 Purchases from related parties 0 0 0 Receivables 126 104 178 Liabilities 0 0 0 Investments made in joint ventures 55 112 248 5.3. Shares owned by the Board and the Management Team The Board of Directors and the Management Team have shareholdings in the company, and the company has granted stock option rights to them. On 30 June 2026, the Board and Management Team holdings in the company were 9 percent of shares and votes. In addition, the company’s Board and Management Team had stock options issued by the company entitling the holders, if vested, to subscribe to a total of 680 000 shares. As at the reporting date, 30 June 2026, the Company's management held 59 125 exercisable stock options, entitling them to subscribe for a total of 378 125 shares in the Company.
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Half-Year Report January-June 2026 24 6. Contingent liabilities and other commitments EUR (thousand) 30 June 2026 30 June 2025 31 Dec. 2025 Guarantees and pledges given Absolute guarantee for Woodspin’s premises lease agreement 0 418 0 Off-balance sheet financial commitments Lease commitments1 Maturing in less than 1 year 243 171 241 Maturing later 98 11 229 Total other commitments 341 182 470 1 Lease commitments presented in the table consists of leases for which the lease term ends within 12 months or for which the underlying asset is of low value. Lease commitments are presented with VAT included. 6.1. Other financial commitments 6.1.1. Respin joint venture If commercialisation phase for Respin commences, the company has agreed to invest up to EUR 1 250 thousand to the Respin joint venture. This amount shall be paid into the reserve for invested unrestricted equity of Respin. If further equity financing is needed to complete the commercialisation, the Respin co- investors Spinnova and ECCO shall each provide further capital to the joint venture as may be separately agreed. Further investments made will be of equal amounts by the co- investors and those will be recognised to the reserve for invested unrestricted equity of Respin. By the end of the reporting period Spinnova has invested total of EUR 773 thousand into Respin joint venture.
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Half-Year Report January-June 2026 25 Appendix The number of shares used in key performance indicators Period Average number of shares during the period Number of shares at the end of the period 1–6/2026 52 310 142 52 316 989 1–12/2025 52 296 335 52 296 335 1–6/2025 52 296 335 52 296 335 Calculation of Key Figures Key figure Definition Reason for the use Earnings per share undiluted Result for the period / weighted average number of shares outstanding during the period The indicator shows the allocation of the result to individual shares. Earnings per share diluted Result for the period / weighted average number of shares outstanding during the period + potential dilutive shares The indicator shows the distribution of earnings to individual shares on a diluted basis. Equity ratio (per cent) Total equity / (Balance sheet total - advances received) Measure for management to monitor the level of the company’s capital and compliance with the company’s loan covenants. Net debt Short-term interest-bearing liabilities + Long-term interest-bearing liabilities – Cash and cash equivalents – Current investments Net debt is an indicator to measure the external debt financing of the company. Net cash Cash and cash equivalents + Current investments - Short-term interest-bearing liabilities - Long-term interest-bearing liabilities Net cash is an indicator of the company’s cash position and its ability to pay off interest-bearing liabilities
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Half-Year Report January-June 2026 26 Investor Relations contacts Janne Poranen CEO Santeri Heinonen CFO and People Officer Johanna Valkama General Counsel ir@spinnova.com +358 20 703 2430 Certified advisor Aktia Alexander Corporate Finance Oy +358 50 520 4098 This January- June 202 6 half -year report, and all earlier financial reports and presentations are available on Spinnova’s website: http://www.spinnovagroup.com/reports Spinnova – The textile material innovation Spinnova technology transforms the way textiles are manufactured globally. Based in Finland, Spinnova has developed a breakthrough patented technology for making textile fibre out of wood pulp or waste, such as leather, textile, or agricultural cropping waste, without harmful chemicals or dissolving. The Spinnova technology creates no side streams in the fibre production process, and the SPINNOVA® fibre has minimal CO2 emissions and water use, as well as being biodegradable and recyclable. The Spinnova technology uses a mechanical process which gives the fibre the look and feel of a natural cellulosic fibre such as cotton. Spinnova’s shares (SPINN) are listed on the Nasdaq First North Growth Market Finland. SPINNOVA® home: www.spinnova.com Corporate & IR site: www.spinnovagroup.com
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SPINNOV AGROUP.COM +358 20 703 2430 PALOKÄRJENTIE 2-4 FIN-40320 JYV ÄSKYLÄ ETELÄPORTINTIE 15 FIN-40530 JYV ÄSKYLÄ HEVOSENKENKÄ 3 FIN-02600 ESPOO