Interim report
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EXACT THERAPEUTICS FIRST HALF REPORT 2026
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Per Walday, Chief Executive Officer of EXACT: The first half of 2026 was marked by continued progress in the Phase 2 ENACT trial of PS101 in locally advanced pancreatic cancer (NCT06850623). Dur ing the period, the trial successfully progressed through two pre-planned safety reviews. Following the initial review in January, the Trial Monitoring Committee recommended evaluation of PS101 at the higher protocol-defined dose of 60 µl/kg. In June, following review of the second safety cohort, the committee recommended that the trial continue at 60 µl/kg, allowing unrestricted patient enrolment at the selected dose. W e also reported positive preliminary observations from the first patients treated in ENACT, including substantial reductions in tumour marker CA 19 -9 and encouraging radiological tumour responses , with one patient progressing to successful complete surgical tumour resection. Similar reductions in CA 19-9 and encouraging radiological responses have been observed in additional patient s treated to date . These local observations are based on a limited number of patients and should be interpreted with appropriate caution pending the planned efficacy analyses. T he Company's financial position was strengthened during the period through the exercise of warrants issued in connection with the December 2024 private placement, generating gross proceeds of NOK 59.4 million. In addition, the Board concluded that a private company structure would be better suited to the Company's future development and financing requirements. The proposal to delist the Company's shares from Euronext Growth Oslo was subsequently approved by the Annual General Meeting and by Oslo Stock Exchange. Last day of trading of the EXACT share on Euronext Growth, Oslo, will be 9 October, 2026. O ur focus for the remainder of 2026 is the continued execution of ENACT towards the planned interim efficacy analysis around the end of the year. P er Walday Chief Executive Officer
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2 HIGHLIGHTS: • ENACT progressed to 60 µl/kg: Two positive safety reviews were completed during the first half of 2026, enabling unrestricted enrolment at the selected PS101 dose of 60 µl/kg. • ENACT site activation completed: The first European patient was treated during the period and all ten participating hospital sites in the U.S. and Europe became active for enrolment. • Early clinical observations: Preliminary and unaudited observations from the first patients included reductions in CA 19 -9 and tumour size, with one patient subsequently undergoing successful surgical tumour resection. These observations remain preliminary and are based on a limited number of patients. • NOK 59.4 million raised through warrant exercise: Approximately 96% of the warrants issued in connection with the December 2024 private placement were exercised. • Delisting approved: The Company's application to delist from Euronext Growth Oslo w a s a p p r o v e d b y O s l o S t o c k E x c h a n g e o n 3 0 J u n e 2 0 2 6 . The shares will be removed from trading as of 12 October 2026 and the last day of trading is scheduled for 9 October 2026. B USINESS REVIEW ENACT Phase 2 trial E XACT's principal development priority is the ongoing Phase 2 ENACT trial (NCT06850623) evaluating PS101 in combination with modified FOLFIRINOX as first-line treatment for patients with borderline resectable or unresectable locally advanced pancreatic cancer. I n January 2026, the Trial Monitoring Committee (TMC) completed its pre-planned review of the initial safety cohort treated with PS101 at 40 µl/kg and concluded that PS101 was well tolerated. Based on the safety data, the committee recommended evaluation of the higher protocol-defined dose of 60 µl/kg. A second safety cohort was subsequently treated at 60 µl/kg. Following completion of the per protocol safety observation period, the TMC reviewed the data in June and recommended that ENACT continue at this dose. This enabled unrestricted enrolment at 60 µl/kg across the participating clinical sites. D uring the first half, the Company also disclosed preliminary observations from the firs t patients treated in the trial. These included reductions in CA 19 -9 of more than 85% and reductions in tumour diameter of 46% and 19% at 16 weeks in the first two patients, respectively. One patient subsequently underwent successful complete surgical tumour resection. Subsequent patients have demonstrated similar reductions in CA 19 -9 and encouraging tumour responses. The observations are preliminary and unaudited, relate to a very limited number of patients and include local radiology assessments. Conclu sions
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regarding efficacy will require data from a larger number of patients and central independent radiological analyses of tumour response. T he interim efficacy analysis is expected around the end of 2026, with final analysis planned for the first half of 2027. T he Company's development resources remain prioritised towards PS101 in pancreatic cancer and execution of ENACT. Selected preclinical and platform activities continue, with resources allocated according to strategic relevance and available funding. F inancing and corporate developments T he positive initial ENACT safety review triggered the exercise period for warrants issued in connection with the December 2024 private placement. Approximately 96% of the outstanding warrants were exercised, resulting in gross proceeds of NOK 59.4 million. I n May 2026, the Board proposed that the Company's shares be delisted from Euronext Growth Oslo following an assessment of the Company's shareholder structure, share liquidity, costs associated with maintaining the listing and future financing requirements. The proposal was approved by the Annual General Meeting in June, and Oslo Stock Exchange approved the delisting on 30 June 2026. The shares will be removed from trading as of 12 October 2026 and the final day of trading is scheduled for 9 October 2026. T he decision to delist does not change the Company's clinical development priorities. OU TLOOK T he Company's primary focus for the remainder of 2026 is continued patient enrolment and execution of the ENACT P h a s e 2 t r i a l a t t h e s e l e c t e d P S 1 0 1 d o s e o f 6 0 µ l / k g . T h e i n t e r i m efficacy analysis is expected around the end of 2026, with final analysis planned for the first half of 2027. Re cent advances in RAS-targeted therapies represent an important development in pancreatic cancer treatment and may expand future opportunities for PS101 in locally advanced pancreatic cancer. As the treatment landscape evolves, EXACT believes PS101 has the potential to complement a range of systemic therapies, including emerging targeted agents. EXACT is evluating opportunities to explore PS101 in combination with RAS- targeted therapies, while the current clinical programme remains focused on PS101 in combination with modified FOLFIRINOX in ENACT. T he Company will continue to prioritise the generation of clinical data from ENACT to inform the future development and financing strategy for PS101.
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Financial review T he interim consolidated financial statements for EXACT Therapeutics AS Group as of 30 June 2026, have been prepared in accordance with the International Accounting Standard (IFRS) 34 interim financial reporting. The interim financial statements have not been audited. T he financial results for the first half of 202 6 reflects that the company has entered into the active part of the ENACT Phase 2 clinical trial where the safety and efficacy of ACT will be investigated in combination with standard of care first line treatment in patients with borderline resectable or unresectable locally advanced pancreatic cancer. Tot al operating expenses for the first half of 202 6 came to NOK 38.0 million (1H 2025 NOK 45.8 million). Payroll and related expenses were NOK 11.7 million (NOK 16.1 million). Other expenses, including research expenses, amounted to NOK 24.8 million during the half year of 2024 (NOK 28.4 million). The majority of expenses in first six months of 2026 are related to clinical and pre -clinical activities with NOK 18.0 million (NOK 22.4.8 million). T h i s i s i n a l l materiality due to activities for advancing the ENACT trial. N et result for the first half of 2026 was NOK -38.0 million (1H 2025 NOK -49.2 million). F inancial position Total assets as of 30 June 2026 were NOK 85 million, an increase from NOK 67.4 million as per 31 December 2025. The increase is mainly due to increased cash balance following the capital raise from the warrants exercise and offset by the costs related to the operations of the company. T otal shareholders’ equity on 30 June 2026, was NOK 65.9 million (NOK 30.7 million at year- end 2025) corresponding to an equity ratio of 78 % (45% at year-end 2025). During the first half of 2026, the majority of shareholders holding warrants in the company exercised these rights to convert to shares. This provided for NOK 58.4 million in gross proceeds to the company. T otal liabilities at the end of the first half of 2026 were NOK 19.1 million, as compared to NOK 36.7 million at year-end 2025. Ca sh flow Net cash flow from operating activities in the first half of 2026 was negative NOK 31.8 million (first half 2025 negative NOK 33.6 million) mainly reflecting the cost related to pre-clinical research, clinical trial costs, and ongoing business running costs. Fre e c ash and cash equivalents amounted to NOK 49.1 million at the end of June 202 6, compared to NOK 24.4 million at year-end 2025. R isks and uncertainties The nature of scientific research and clinical development is inherently uncertain as we endeavour to develop novel and effective treatments for pancreatic cancer patients in order
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to improve their lives. In the event, that we are unable to achieve the development milestones required to reach our goals, we may be unable to progress to the next stages of development. Ca sh flow within the business is managed closely but the achievement of the Company’s goal of improving the lives of pancreatic cancer patients will depend on the ability to raise additional funds. Res ponsibility Statement The Board of Directors of EXACT Therapeutics AS have today considered and approved the condensed financial statements for the six -month period ended 30 June 2026. The half year report has been prepared in accordance with IAS 34 Interim Financial Reporting as endorsed by the EU and additional Norwegian regulations. W e confirm, to the best of our knowledge, that: The condensed consolidated financial statements for the six months ended 30 June 2026, have been prepared in accordance with applicable financial reporting standards. The information provided in the financial statements gives a true and fair view of the group’s assets, liabilities, financial position and results for the period. T he financial review includes a fair summary of significant events during the first six months of the year and their impact on the financial statements, any major related party transactions, and a description of the principal risk and uncertainties for the remaining six months of the year. O slo, 3 September 2026 The Board of Directors EXACT Therapeutics AS
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Condensed interim statement of comprehensive income Amounts in NOK Note H1 2026 H1 2025 FY 2025 Other income 1.5 19 000 - 59 000 Total other income 19 000 - 59 000 Employee benefit expenses 1.6 11 735 697 16 091 710 28 903 667 Research expenses 17 992 864 22 352 367 40 540 187 Other operating expenses 1.7 6 837 080 6 027 730 11 808 027 Depreciation and amortization 1 415 207 1 381 461 3 684 440 Operating profit or loss (37 961 848) (45 853 268) (84 877 321) Finance income 2.2 590 643 2 179 952 4 699 678 Finance costs 2.2 625 169 5 499 101 6 790 010 Profit or loss before tax (37 996 374) (49 172 417) (86 967 653) Income tax expense - - - Profit or loss for the period (37 996 374) (49 172 417) (86 967 653) Allocation of profit or loss: Profit/loss attributable to the parent (37 996 374) (49 172 417) (86 967 653) Other comprehensive income Exchange differences on translation of foreign operations (80 780) (82 118) (131 255) Total comprehensive income for the period (38 077 153) (49 254 535) (87 098 908) Allocation of total comprehensive income Total comprehensive income attributable to owners of the parent (38 077 153) (49 254 535) (87 098 908) Earnings per share ("EPS"): Basic EPS - profit or loss attributable to equity holders of the parent (0,34) (0,78) (1,37) Diluted EPS - profit or loss attributable to equity holders of the parent (0,34) (0,78) (1,37)
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Condensed interim statement of financial position Amounts in NOK Note 30 Jun 2026 30 Jun 2025 31 Dec 2025 ASSETS Non-current assets Property, plant and equipment 5 689 623 6 892 136 6 439 737 Right-of-use assets 64 062 289 458 448 436 Investment in subsidiary - - - Other non-current receivables - 3 354 650 - Total non-current assets 5 753 686 10 536 244 6 888 173 Current assets Other current assets 1.8 30 164 579 32 298 811 36 161 414 Cash and cash equivalents 2.1 49 102 615 58 506 014 24 346 546 Total current assets 79 267 194 90 804 825 60 507 960 TOTAL ASSETS 85 020 879 101 341 069 67 396 133 EQUITY AND LIABILITIES Equity Share capital 446 176 253 053 253 053 Share premium 82 318 717 47 467 745 9 672 511 Other paid-up equity 21 119 268 19 753 931 20 644 173 Foreign currency translation reserve 57 067 186 984 137 847 Retained earnings / accumulated losses (37 996 374) - - Total equity 2.0 65 944 855 67 661 713 30 707 584 Current liabilities Current lease liabilities 63 063 353 884 434 911 Trade and other payables 1.9 19 013 062 17 789 755 20 717 921 Other current liabilities - 15 535 714 15 535 714 Total current liabilities 19 076 125 33 679 353 36 688 546 TOTAL EQUITY AND LIABILITIES 85 020 879 101 341 069 67 396 133
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Amounts in NOK Share capital Share premium Other paid- up equity FX translation reserve Retained earnings / accumulated losses Total equity Balance at 1 January 2026 253 053 9 672 511 20 644 173 137 847 - 30 707 584 Proceeds from equity issue 193 123 59 192 155 59 385 278 Transaction costs on issue (2 081 663) (2 081 663) Warrant liability reversed to equity 15 535 714 15 535 714 Share-based payments 475 095 475 095 Total comprehensive income for the period (37 996 374) (37 996 374) Other comprehensive income (80 780) (80 780) Balance at 30 June 2026 446 176 82 318 717 21 119 268 57 067 (37 996 374) 65 944 855 FY 2025 Share capital Share premium Other paid- up equity FX translation reserve Retained earnings Total equity Balance at 1 Jan 2025 253 053 96 640 163 18 384 085 269 102 - 115 546 403 Profit / (loss) for the year - 86 967 653) - - - 86 967 653) Other Comprehensive income - - - 131 255) - 131 255) Share-based payments - - 2 260 088 - - 2 260 088 Balance at 31 Dec 2025 253 053 9 672 511 20 644 173 137 847 - 30 707 584 Condensed interim statement of changes in equity
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Condensed interim statement of cash flows Amounts in NOK Note H1 2026 H1 2025 FY 2025 Cash flows from operating activities Profit or loss before tax (37 996 374) (49 172 418) (86 967 653) Adjustments to reconcile profit before tax to net cash flows: Net financial income/expense 34 526 3 319 148 2 090 332 Depreciation of property, plant and equipmen t 1 030 833 1 125 607 3 070 499 Amortisation and impairment of right-of-use asset 384 374 255 854 613 941 Share-based payment expense 475 095 1 369 846 2 260 088 Other included non-cash IFRS adjustment s -- - Working capital adjustments: Changes in other receivables 1.8 5 996 835 13 201 668 12 693 714 Changes in trade and other payable s 1.9 (1 704 859) (3 678 647) (750 481) Changes in provisions and other liabilities -- - Net cash flows from operating activities (31 779 570) (33 578 943) (66 989 559) Cash flows from investing activities Purchase of property, plant and equipment (350 160) (3 798 891) (5 320 128) Interest received 2.2 274 785 1 648 066 2 617 338 Net cash flow from investing activitie s (75 375) (2 150 825) (2 702 790) Cash flows from financing activities Gross proceeds from issuance of equity 2.0 59 385 278 - - Transaction costs on issue of shares (2 077 778) - - Payments for the principal portion of the lease liability (371 848) (308 181) (760 548) Payments for the interest portion of the lease liability (8 426) (13 921) (31 677) Interest paid 2.2 - (2 768) (3 216) Net cash flows from financing activitie s 56 927 227 (324 870) (795 441) Cash and cash equivalents at beginning of period 2.1 24 346 546 99 536 017 99 536 017 Net foreign exchange difference (316 213) (4 975 365) (4 701 681) Cash and cash equivalents, end of period 49 102 615 58 506 014 24 346 546
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Notes to the condensed interim financial statements 1.1 General information 1.2 Basis of preparation 1.3 Significant accounting policies 1.4 Significant accounting judgements, estimates and assumptions The consolidated financial statements have been prepared in accordance with IFRS and the application of the chosen accounting policies requires management to make judgements, estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances. Actual results may differ from these estimates. The estimates and the underlying assumptions are reviewed on an ongoing basis. The Group based its assumptions and estimates on parameters available when the financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that are beyond the control of the Group. Such changes are reflected in the assumptions when they occur. In preparing these financial statements, the significant judgements made by management in applying the Group’s accounting policies and the key sources of estimate uncertainty were the same as those used in the consolidated financial statements for the year ended 31 December 2025. Presentation currency and functional currency The consolidated financial statements are presented in Norwegian Kroner (NOK), which is also the functional currency of the parent company. For each entity, the Group determines the functional currency, and items included in the financial statements of each entity are measured using that functional currency. For presentation purposes, balance sheet items are translated from functional currency to presentation currency by using exchange rates at the reporting date. Items within total comprehensive income are translated from functional currency to presentation currency by applying monthly average exchange rates. EXACT Therapeutics has selected a presentation in which the description of accounting policies as well as estimates, assumptions and judgemental considerations are disclosed in the notes to which the policies relate. EXACT Therapeutics has promising pre-clinical results of ACT within a range of indications and in combination with several different standard-of-care medications. At the Annual General Meeting on 12 June 2026, a board proposal to delist the Company's shares from trading on Euronext Growth Oslo was approved by the required majority of shareholders. Oslo Stock Exchange announced on 30 June 2026 that the shares will be delisted on 12 October 2026, with the last day of trading being 9 October 2026. This decision does not affect the prepared financial statements. The consolidated financial statements for the Group have been prepared in accordance with "IFRS Accounting Standards as adopted by the EU". The consolidated financial statements and the Company financial statements have been prepared on a historical cost basis. Cash and cash equivalents at 30 June 2026 amount to approximately NOK 49.1 million for the Group. In addition, approximately NOK 13.3 million is held in a security / guarantee deposit subject to restrictions and is classified as other current assets rather than cash and cash equivalents. The interim financial statements are prepared on the basis of the going concern assumption. At the date of authorisation of the financial statements, the Group expects that additional financing will be required to fund its planned activities over the next 12 months The consolidated financial statements of EXACT Therapeutics AS and its subsidiaries (collectively, "the Group" or "EXACT Therapeutics") for the period ended 30 June 2026 were authorised for issue in accordance with Board resolution on September 3, 2026. EXACT Therapeutics AS is a publicly listed company on Euronext Growth, Oslo, with the ticker symbol EXTX. EXACT Therapeutics AS is incorporated and domiciled in Norway, and the address of its registered office is Songsveien 72, Oslo, Norway. The Group’s objectives when managing capital are to ensure its ability to continue as a going concern, support the execution of its strategic priorities, and optimise shareholder value through an efficient capital structure. Capital is defined as the aggregate of equity attributable to shareholders, including share capital, share premium and retained earnings. The Group manages its capital structure by monitoring forecast cash flows, liquidity needs and the timing of key operational milestones. Management regularly reviews capital requirements in light of planned research and development activities, investment needs and expected access to funding sources. Where appropriate, the Group adjusts its capital structure by issuing new shares or other capital instruments, or by managing operating expenditures to preserve liquidity. Management believes that the current capital structure is appropriate for the Group’s stage of development and risk profile, and it continues to assess capital adequacy on an ongoing basis to support the Group’s long-term strategy. EXACT's research and development activities are focused towards enhancing drug delivery in oncology utilizing ultrasound and the proprietary product PS101. In combination, this is the ACT technology. Essentially, the aim of the ACT technology is to defeat biological barriers, allowing more drug to penetrate into the diseased tissues where the therapeutic effect is needed. During H1 2026, the Company directed its resources primarily to the ENACT study, including hospital-site activity in the US and UK and patient recruitment.
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1.5 Government grants and other income Government grants and other income H1 2026 H1 2025 FY 2025 Other income 19 000 - 59 000 Total government grants and other income 19 000 - 59 000 Total government grants recognised Line item in statement of comprehensive income H1 2026 H1 2025 FY 2025 Grant from the Research Council of Norway Employee benefit expenses / research expenses 2 140 035 835 428 3 079 184 Grant from SkatteFUNN Employee benefit expenses / research expenses 2 375 000 2 375 000 4 750 000 Total government grants recognised 4 515 035 3 210 428 7 829 184 Government grants receivable 30 Jun 2026 30 Jun 2025 31 Dec 2025 Grant from the Research Council of Norway 1 463 706 - 1 043 755 Grant from SkatteFUNN 7 125 000 7 125 000 4 750 000 Total government grants receivable 8 588 706 7 125 000 5 793 755 1.6 Employee benefit expenses Employee benefit expenses H1 2026 H1 2025 FY 2025 Salaries 10 152 363 12 832 890 23 736 569 Social security costs 1 588 906 2 128 834 4 050 643 Pension costs 1 186 977 830 284 1 336 095 Share option expense (salary expense) 475 095 1 369 846 2 260 088 Grants deducted employee costs (1 667 644) (1 070 143) (2 479 728) Total employee benefit expenses 11 735 697 16 091 710 28 903 667 Average number of full time employees (FTEs): 11,5 10 11 Government grants are recognised where there is reasonable assurance that the grant will be received, and all attached conditions will be complied with. When the grant relates to an expense item, it is deducted from the cost on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed. When the grant relates to an asset, it is recognised as income in equal amounts over the expected useful life of the related asset. Only grants recognised as income are presented in the table above. In December 2022, EXACT Therapeutics was awarded a grant of NOK 16 million for the research project "Enhancing immune response in solid tumours with Acoustic Cluster Therapy". The project runs until 2027. The Company recognised NOK 2.4 million under the SkatteFUNN scheme in H1 2026. The amount is recorded as a reduction in expensed costs related to the relevant projects, consistent with the accounting policy above. The same amount was recognised in H1 2025. Pensions The Group has a defined contribution pension plan for its employees. The Norwegian scheme satisfies the statutory requirements in the Norwegian law on required occupational pension ("lov om obligatorisk tjenestepensjon"). Contributions are paid to pension insurance plans and charged to the income statement in the period to which the contributions relate. Once the contributions have been paid, there are no further payment obligations. Judgement related to classification of warrants Subscribers in the December 2024 Private Placement received rights to participate in a subsequent private placement following the anticipated safety readout. The post-discount exercise amount represented 3/7 of the amount subscribed for in the December 2024 Private Placement. To facilitate the future transaction, subscribers agreed to non-tradable warrants. The fixed discount represented a financial obligation of approximately NOK 15.5 million recognised at 31 December 2024 and 31 December 2025. Management concluded that the obligation was not a derivative measured at fair value through profit or loss, but a financial obligation to provide the agreed fixed monetary discount in the next share issue. The safety readout was reported on 27 January 2026 and the warrants were exercised in March 2026, and the discount was then released. ACCOUNTING POLICIES
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1.7 Operating expenses Other operating expenses H1 2026 H1 2025 FY 2025 Audit and accounting fees 902 807 464 687 1 061 670 Consulting fees 1 149 875 382 224 1 354 862 Legal expenses 81 569 476 192 583 103 Travel expenses 186 281 403 493 606 103 Other operating expenses 4 516 549 4 301 134 8 202 289 Total other operating expenses 6 837 080 6 027 730 11 808 027 1.8 Other receivables Other receivables 30 Jun 2026 30 Jun 2025 31 Dec 2025 Other receivables 710 079 - - VAT receivable 579 902 606 661 729 259 Government grants 8 588 706 7 125 000 4 750 000 Prepayments vendors 6 638 481 9 855 129 12 070 093 Restricted security / guarantee deposit 13 277 358 12 856 614 17 090 069 Other prepayments and deposits 370 053 1 855 407 1 521 992 Total other receivables 30 164 579 32 298 811 36 161 413 1.9 Trade and other payables Trade and other payables 30 Jun 2026 30 Jun 2025 31 Dec 2025 Trade payables 6 173 079 10 855 092 7 446 156 Withholding payroll taxes and social security 1 843 619 1 374 743 3 681 663 Other accrued expenses 10 996 264 5 559 920 9 590 102 Total trade and other payables 19 013 062 17 789 755 20 717 921 2.0 Share capital and shareholders Issued capital and reserves: Share capital in EXACT Therapeutics AS Warrants Number of shares authorised and fully paid Par value per share (NOK) Financial position (NOK) At 1 January 2026 13 364 041 63 263 347 0,004 25 3 053 Warrant exercise / share issue (13 364 041) 48 280 714 0,004 193 123 At 30 June 2026 - 111 544 061 0,004 446 176 Shareholders in EXACT Therapeutics AS at 31 December 2025 Total shares Ownership / voting rights GE Healthcare Medical Holding AB 16 647 956 26,3% Investinor Direkte AS 6 105 522 9,7% Canica AS 4 291 316 6,8% Brekke Holding AS 3 050 000 4,8% Kvåle AS 3 024 270 4,8% Paacs Invest AS 2 699 842 4,3% Helene Sundt AS 2 688 291 4,2% Andrew John Healey 2 123 885 3,4% Per Christian Sontum 1 767 127 2,8% Optimuspistor AS 1 745 464 2,8% Goldman Sachs & Co. LLC 1 255 956 2,0% J.P. Morgan SE 1 244 999 2,0% Kvantia AS 1 165 568 1,8% DNB BANK ASA 1 009 799 1,6% T.D. Veen AS 1 004 741 1,6% CGS Holding AS 890 500 1,4% Norda ASA 860 215 1,4% P53 Invest AS 726 500 1,1% Danske Invest Norge Vekst 719 109 1,1% Jakob Hatteland Holding AS 553 982 0,9% Other shareholders 9 688 305 15,3% Total 63 263 347 100,0% All shares are ordinary and have the same voting rights and rights to dividends. Receivables are measured by the amortised cost method, but due to the assets being short-term receivables the non-discounted contractual payments are disclosed. No credit loss allowance is recognised. Trade and other payables are expected to be settled within the normal operating cycle within twelve months after the reporting period.
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Shareholders in EXACT Therapeutics AS at 30 June 2026 Total shares Ownership / voting rights GE Healthcare Medical Holding AB 43 621 125 39,1% INVESTINOR DIREKTE AS 10 981 442 9,8% CANICA AS 7 564 650 6,8% HELENE SUNDT AS 4 738 868 4,2% BREKKE HOLDING AS 3 746 863 3,4% Goldman Sachs & Co. LLC 3 290 867 3,0% KVÅLE AS 3 024 270 2,7% PAACS INVEST AS 2 699 842 2,4% DNB BANK ASA 2 261 451 2,0% NORDA ASA 2 253 943 2,0% HEALEY 2 123 885 1,9% OPTIMUSPISTOR AS 1 989 652 1,8% SONTUM 1 767 127 1,6% JAKOB HATTELAND HOLDING AS 1 250 845 1,1% KVANTIA AS 1 165 568 1,0% J.P. Morgan SE 1 134 999 1,0% T.D. VEEN AS 1 004 741 0,9% SUNDT AS 971 532 0,9% J.P. Morgan SE 893 323 0,8% CGS HOLDING AS 890 500 0,8% Other shareholders 14 168 568 12,7% Total 111 544 061 100,0% 2.1 Cash and cash equivalents Cash and bank deposits 30 Jun 2026 30 Jun 2025 31 Dec 2025 Bank deposits, unrestricted 48 785 350 57 748 729 23 465 818 Bank deposits, restricted – deposit account (payroll / tax) 317 265 757 285 880 728 Guarantee deposit, restricted (other current assets) 13 277 358 12 856 614 17 090 069 Total bank deposits 62 379 973 71 362 628 41 436 615 Cash balances classified as other current assets (13 277 358) (12 856 614) (17 090 069) Total cash and cash equivalents 49 102 615 58 506 014 24 346 546 2.2 Financial income and expenses Finance income H1 2026 H1 2025 FY 2025 Interest income 274 785 1 648 066 2 617 338 Other finance income 13 859 13 962 13 962 Gain on foreign exchange 301 999 517 925 2 068 379 Total finance income 590 643 2 179 952 4 699 678 Finance costs H1 2026 H1 2025 FY 2025 Interest expenses on lease liabilities 8 426 16 689 31 677 Other interest expenses - 110 3 216 Other finance costs - - 3 080 Loss on foreign exchange 616 742 5 482 301 6 752 037 Total finance costs 625 169 5 499 101 6 790 010 2.3 Events after the reporting period The Group does not have any activities in Ukraine or Russia and the conflict does not have any direct impact on operations. The Group may, however, be impacted indirectly through macroeconomic fluctuations such as interest rates, foreign exchange rates and inflation. Adjusting events There have been no significant adjusting events subsequent to the reporting date. Non-adjusting events Ukrainian war conflict There have been no significant non-adjusting events subsequent to the reporting date. The Company's shares will be delisted from trading on Euronext Growth, Oslo, on October 12. This does not affect the prepared financial statements. ACCOUNTING POLICIES Interest income and interest expenses are calculated using the effective interest method. Foreign currency gains or losses are reported as gain or loss on foreign exchange within finance income or finance costs.
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2.4 Change in accounting policies and disclosures, standards issued, not yet effective The initial expected material impacts on the Group’s financial statements are as follows: • Foreign exchange differences will be classified in the category where the related income and expense form the item giving rise to the foreign exchange difference. • A new disclosure will reconcile each line item in the statement of profit or loss between restated amounts applying IFRS 18 and amounts previously presented applying IAS 1. • Interest received and interest paid will be classified in investing activities and financing activities, respectively, in the statement of cash flows. In April 2024, the IASB issued IFRS 18, which replaces IAS 1 Presentation of Financial Statements. IFRS 18 introduces new requirements for presentation within the statement of profit or loss, including specified totals and subtotals. Furthermore, entities are required to classify all income and expenses within the statement of profit or loss into one of five categories: operating, investing, financing, income taxes and discontinued operations, whereof the first three are new. It also requires disclosure of newly defined management-defined performance measures, subtotals of income and expenses, and includes new requirements for aggregation and disaggregation of financial information based on the identified roles of the primary financial statements and the notes. Management has assessed the upcoming implementation of IFRS 18 and concluded that the standard will not have a material impact on the Group’s financial statements, but will require limited changes to the presentation structure and certain disclosure classifications due to IFRS 18’s updates to terminology, presentation guidance and relocated disclosure requirements. In addition, narrow-scope amendments have been made to IAS 7 Statement of Cash Flows, including changing the starting point for determining cash flows from operations under the indirect method from profit or loss to operating profit or loss and removing optionality around the classification of cash flows from dividends and interest. There are also consequential amendments to several other standards. IFRS 18, and the amendments to the other standards, is effective for reporting periods beginning on or after 1 January 2027, but earlier application is permitted and must be disclosed. IFRS 18 will apply retrospectively. The Group is in the process of assessing the impact of the standard. New standards No new standards have been implemented in H1 2026. Standards issued, not yet implemented – IFRS 18 Presentation and Disclosure in Financial Statements