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polight Shaping the Tunable Optics Future Second quarter 2026 Earnings presentation 6 August 2026
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2 Second quarter 2026 - Earnings presentation This presentation (the "Presentation") has been produced by poLight ASA (the "Company") exclusively for information purposes. This Presentation has not been approved, reviewed or registered with any public authority or stock exchange. Further to the aforementioned, this presentation is the result of an effort of the Company to present certain information which the Company has deemed relevant in accessible format. This Presentation is not intended to contain an exhaustive overview of the Company's present or future financial condition and there are several other facts and circumstances relevant to the Company and its present and future financial condition that have not been included in this Presentation. This Presentation may not be disclosed, in whole or in part, or summarized or otherwise reproduced, distributed or referred to, in whole or in part, without prior written consent of the Company.This Presentation contains certain forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which it operates or intends to operate. Forward-looking statements concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words "believes", expects", "predicts", "intends", "projects", "plans", "estimates", "aims", "foresees", "anticipates", "targets", and similar expressions. The forward-looking statements contained in this Presentation, including assumptions, opinions and views of the Company or cited from third party sources are solely opinions and forecasts which are subject to risks, uncertainties and other factors that may cause actual events to differ materially from any anticipated development. None of the Company or any of its subsidiary undertakings or any such person's officers or employees provides any assurance that the assumptions underlying such forward-looking statements are free from errors nor does any of them accept any responsibility for the future accuracy of the opinions expressed in this Presentation or the actual occurrence of the forecasted developments. The Company assumes no obligation to update any forward-looking statements or to conform these forward-looking statements to our actual results. Furthermore, information about past performance given in this Presentation is given for illustrative purposes only and should not be relied upon as, and is not, an indication of future performance. No representation or warranty (express or implied) is made as to, and no reliance should be placed on, any information, including projections, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and, accordingly, neither the Company nor any of its parent or subsidiary undertakings or any such person’s officers or employees accepts any liability whatsoever arising directly or indirectly from the use of this document.By reviewing this Presentation you acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the businesses of the Company. This Presentation must be read in conjunction with the recent financial reports of the Company and the disclosures therein. The distribution of this Presentation in certain jurisdictions may be restricted by law. Persons in possession of this Presentation are required to inform themselves about, and to observe, any such restrictions. No action has been taken or will be taken in any jurisdiction by the Company that would permit the possession or distribution of this Presentation in any country or jurisdiction where specific action for that purpose is required.No shares or other securities are being offered pursuant to this Presentation. This Presentation does not constitute an offer to sell or form part of, and should not be construed as, an offer or invitation for the sale or subscription of, or a solicitation of an offer to buy or subscribe for, any shares or other securities in any jurisdiction, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any offer, contract, commitment or investment decision relating thereto, nor does it constitute a recommendation regarding the securities of the Company.By reviewing this Presentation you agree to be bound by the foregoing limitations.This Presentation speaks as of 6 August 2026. Neither the delivery of this Presentation nor any further discussions of the Company with any of the recipients shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since such date. The Company does not intend, and does not assume any obligation, to update or correct any information included in this Presentation. This Presentation shall be governed by Norwegian law, and any disputes relating to hereto is subject to the sole and exclusive jurisdiction of Norwegian courts, with Vestfold District Court as legal venue. Disclaimer
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3 Second quarter 2026 - Earnings presentation Today's agenda •Key events •Introduction to poLight•Markets review•Financial review•Outlook•Q&A Presenting Joakim Hines BredahlChief Financial OfficerMr Bredahl’s career started in entrepreneurship, followed by an eight-year stint at Verdane Capital Advisors and nine years in Nordea in different customer-facing roles. Joakim Hines Bredahl has a BA (Hons) in Finance and Marketing from Strathclyde Business School. Dr Øyvind IsaksenChief Executive OfficerDr Isaksen has been CEO of poLight since August 2014. He has previously held several CEO positions, most recently in the publicly listed company Q-Free ASA, which he left in January 2014, after 7 years as CEO. Øyvind Isaksen holds a PhD in Applied Physics.
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4 Second quarter 2026 - Earnings presentation •Follow-on purchase order for TLens®, with a total value of approximately NOK 2.4 million, received from a consumer OEM for augmented/mixed reality (AR|MR) use. (7 April 2026)•The same customer placed an additional purchase order worth approximately NOK 0.8 million. (20 May 2026)•A follow-on purchase order worth NOK 0.7 million was received in connection with an ongoing qualification programme for a potential consumer product. See also related announcements dated 11 February 2026 and 6 August 2025. (18 June 2026)•Towards the end of the quarter, the first camera modules related to the project announced on 13 October 2025 were tested and shipped to the customer for validation.•Tunable optics products for industrial, machine vision and robotics applications were highlighted at Automate 2026. (June 2026)Post Q2•A third follow-on TLens® purchase order, with a total value of approximately NOK 0.8 million, was received in connection with the same customer case as announced on 7 April and 20 May 2026. (10 July 2026).•poLight now regards this case as a design-in. Key events in the quarter
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5 Second quarter 2026 - Earnings presentation •Founded in 2005 and listed on Oslo Stock Exchange (PLT)•Norway headquarters with employees in Finland, France, UK, US, China, Taiwan and the Philippines•Growing worldwide patent and trademark portfolio Speed Extremely low power consumption Small real estate Consumer use casesUnique technology platformGlobal Player AR/MR Devices Wearables Smartphone, Webcam, Laptop Barcode Mixed Reality Machine Vision Focused on growth Enterprise use cases
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6 Second quarter 2026 - Earnings presentation Principle of operation TLens® : Smallest, Lowest Power and Fastest From Gel > MEMS Wafer > TLens® > Camera module > OEM Camera Module Partners OEM´s Driver ASIC Bare TLens® Packaged TLens® HQ > MEMS Fab > Assembly partner > Module integrator > Assembly partner/ OEM ImplementationPiezo MEMS filmGlass membranePolymerGlass window
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7 Second quarter 2026 - Earnings presentation Targeting Momentum Markets – Supporting Emerging Use Cases Consumer Consumers demand better imaging on all devicesAR|MRLeading position in AF design wins IndustrialSmaller, better scan engines expand uses Machine VisionAI-based imaging driving manufacturing Momentum Markets Automotive Driver-based imaging growingHealthcare Expanding research + in vivo applications Emerging Use Cases
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8 Second quarter 2026 - Earnings presentation Smartwatch x 2 UC W20HD Webcam EX 302D Barcode Scan EngineMEIZU 20 INFINITYSelfie Camera Multi-Focus MIPI Module AW300DPAW550 x 9 Mini2P2-photon miniscope Mini2P Turnkey Solution Magic Leap 2Enterprise MRWorld-facing Camera LEION Pro Enterprise AR World-facing Camera High End MR HMDWorld-facing CameraUnnamedCustomer VUZIX Shield®Enterprise AR2x World-facing Cameras AR|MR AR smart glasses and MR display use cases demand AFConsumerEvolving consumer devices require ultra-small, ultra-fast, low-power cameras Industrial/Machine Vision/ BarcodeAI-driven uses require flexible, highly-functional imaging HealthcareResearch uses expands to multiple applications Mini2P Turnkey Solution Mini2P Turnkey Solution Assembly LineUnnamed Customer x 2 x 2 x 5 T1Pro, K3Pro, T3Pro, T5, K8Pro Customer Wins Drive momentum x 2 SnkeXRAR headset purpose-built for medical applications Industrial endoscope x 4 Optical cage x 2 SEBI RT1000 Wavefront Sensor Assembly LineUnnamed Customer x 2
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Second quarter 2026 - Earnings presentation Markets review
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10 Second quarter 2026 - Earnings presentation Update on Consumer - TLens® - First AR|MR consumer design-in !•Activity in the quarter related mainly to AR|MR, as well as some preparatory work relating to laptops and various accessories. •TLens® is being evaluated and tested by several important AR|MR market players.•AR|MR glasses often use fixed-focus cameras, but camera specification trends, AI and future use cases may change this situation.•Various competing autofocus (AF) solutions will be implemented, depending on the specifications needed and cost sensitivity. •The number of potential consumer-oriented AR|MR opportunities that poLight is exploring has expanded throughout the last few years, with some of the TLens® cases becoming increasingly mature.•During the quarter, three strategically important purchase orders were received.•Two of them related to a product which may be released in 2026, and one related to the consumer OEM backing Q Tech investment in poLight. •Post-quarter (10 July) poLight announced a third purchase order for first case mentioned above. •This is now regarded as a design-in, and is included in this report.•The first cameras for the project announced 13 October 2025 were finalised and shipped to customer end of the quarter.
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11 Second quarter 2026 - Earnings presentation Update on Consumer - TWedge® - Interest continues•Major consumer AR|MR OEMs are continuing to test the prototypes for various applications. •Building appetite and gathering market intelligence by selling technical samples.•In the second quarter, additional purchase orders worth approximately NOK 0.5 million were received, down from NOK 1.7 million previous quarter•Through extensive sampling over the past year, poLight has established good market appetite and understanding for various use cases, and related specification.•Aim to initiate the next development phase.•Initial dialog to explore the possibility of securing NRE has been kicked off. However, such discussions are multi-faceted and complex, so the outcome remains difficult to assess at present. Design-winDesign-inCompleted PoCOngoing PoCPlanning PoC4 (4)0 (0)49 (43)4 (4)2 (3) Table above does not include AR|MR market
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12 Second quarter 2026 - Earnings presentation Status on consumer (including AR|MR consumer) POC = Proof of Concept, including TWedge® (PoCs (eight) and planned PoCs (one))Numbers in () represent last quarter 4 (4)Design-win Design-in PoC Planning PoC 4 17 19 2 accessory laptop laptop laptoplaptopaccessory laptop wearable 1 (0) 23 (23) 19 (22) accessory
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13 Second quarter 2026 - Earnings presentation •The enterprise cases today represent a relatively low volume.•Exposure important for penetrating and building trust in the ongoing consumer cases being explored.•Expected that the volume in enterprise market also will increase as technology and application mature.AR|MR Leading position in design wins Enterprise AR|MR
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14 Second quarter 2026 - Earnings presentation 24 Design-win Design-in PoC Planning PoC POC = Proof of Concept. Overview include TWedge® (eight PoCs and one planned PoCs)Numbers in () represent last quarterC = Consumer 19 C C C C C C C C17 Status on AR|MR 6 (6) 1 (0) 20 (21) 18 (22) C 1 1 C
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15 Second quarter 2026 - Earnings presentation •The barcode-related order intake in the quarter was approximately NOK 1.5 million compared to approximately NOK 0.9 million in the previous quarter. •The purchase orders are a mix of existing customers already in mass production and new customers in a PoC and design-in stage.•During the quarter, poLight expanded its new MLens® off-the-shelf portfolio of M12 focusing camera lenses for industrial machine vision applications.•MLens® was displayed at Automate in Chicago in June, and the response was positive. •Because the MLens® portfolio comprises higher value products and therefore positions the company higher up the value chain, it could potentially be an important contributor in this market segment.•In the barcode/machine vision market, seven companies represent 26 design-wins, of which 21 products are still shipping. Update on Barcode/Industrial Design-winDesign-inCompleted PoCOngoing PoCPlanning PoC30 (30)4 (4)54 (54)9 (10)24 (20) poLight at Automate in Chicago
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16 Second quarter 2026 - Earnings presentation Design-win Status on Barcode/Industrial Design-in PoC Planning PoC 15 Other Other7 10 SI SI SI other other other 7 311 Iris Iris e.scope 2 30 (30) 4 (4) 9 (10) 24 (20) 5 other
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17 Second quarter 2026 - Earnings presentation •Continues to support selected opportunities in the healthcare market segment.•Partnership with the Kavli Institute at the Norwegian University of Science and Technology (NTNU) have led to three commercial companies are now offering turn-key Mini2P solution•poLight is also engaged in some commercial endoscope cases.•In the short/medium term, however, do not foresee commercial breakthrough for this application, due to use of low-resolution sensors - may change over time.•During the quarter, purchase orders from this segment were small (approximately NOK 0.1 million) but supported a few interesting opportunities. Update on Healthcare 4 design-win, 0 design-in, 16 PoCs ongoing and 2 planning PoC4 design-win, 0 design-in, 5* PoCs ongoing and 2 planning PoC * Removed all (9) universities PoC
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18 Second quarter 2026 - Earnings presentation 0 design-win, 0 design-in, 0 PoCs ongoing and 2 planning PoC •There was no/very little activity in this sector during the second quarter. •Going forward, this market segment may have a need for autofocus technology, and TLens® is one of the solutions being evaluated.•The market is potentially significant but will most likely require a new revision of TLens®. Update on Automotive
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19 Second quarter 2026 - Earnings presentation Pipeline update per end Q2-26Design-winDesign-inCompleted PoCOngoing PoCPlanning PoC Consumer4 (4)0 (0)49 (43)4 (4)2 (3)Augmented|Mixed Reality(AR|MR) 6 (6)1 (0)32 (29)20 (21)18 (22) Industrial 30 (30)4 (4)54 (54)9 (10)24 (20)Other (medical, automotive)4 (4)0 (0)20 (18)5* (5)4 (4) 44 (44)5 (4)155 (144)38* (40)48 (49)Number in () represents last quarter * Medical/Healthcare : Removed all (9) university related ongoing PoC activities from the overview
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20 Second quarter 2026 - Earnings presentation poLight PoC pipeline & design-in/win development * Medical/Healthcare : Removed all (9) university related ongoing PoC activities from the overview # Design-in/win# Planning PoC,PoC,Completed PoC
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Second quarter 2026 - Earnings presentation Financial Review
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22 Second quarter 2026 - Earnings presentation Key financials •Revenue reflects sales of TLens®, services and materials to customer development projects of NOK 9.1 million•EBITDA loss of NOK 33.1 million vs. loss of NOK 29.5 million in Q2 2025 •NOK 4.6 million higher contribution from gross margin•Higher OPEX of NOK 8.2 million, but primarily due to NOK 7.4 million higher employer’s NICs reserve from share option plan due to increased share price in the quarter. •EBITDA loss ex share options in Q2 2026 was NOK 22.9 million vs. loss of NOK 26.4 million in Q2 2025 •Cash position of NOK 243.7 million, compared with NOK 284.0 million at year-end 2025•Intangible assets written down to zero over time•Inventory of NOK 47.0 million compared with NOK 53.5 million at 31.12.2025•The inventory decreased by NOK 4.4 million during the quarter due to - cost of goods sold (NOK 2.5 million); - increased provision for obsolescence (NOK 2.2 million); and + inventory increase due to assembly (NOK 0.3 million) (in NOK million)Q2 2026Q2 2025FY 2025Revenue 9.13.020.5Change in obsolescence provision-2.2-2.7-8.0Cost of good sold-2.5-0.5-3.5Gross margin4.4-0.29.0Research and development expenses-11.2-11.7-49.1Sales and marketing expenses-7.2-4.7-20.1Operational / supply chain expenses-10.1-6.1-28.5Administrative expenses-9.0-6.8-27.9EBITDA -33.1-29.5-116.5 (in NOK million)30.06.202630.06.202531.12.2025Intangible assets0.06.73.0Inventories47.056.953.5Cash and cash equivalents243.7273.1284.0Total equity292.0341.2339.2Total current liabilities28.315.023.6Total equity and liabilities329.8365.7372.8 Balance sheet summaryIncome statement
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23 Second quarter 2026 - Earnings presentation Cash Flow•Q2 2026 net decrease in cash was NOK 18.0 million•Q2 2025 net increase in cash was NOK 137.3 million •Q2 cash used in operating activities was NOK 17.7 million, NOK 6.2 million less than in Q2 2025•Working capital decrease NOK 9.1 million higher than in Q2 2025•Net loss was NOK 2.2 million higher than in Q2 2025•CAPEX during the quarter was NOK 1.3 million, mainly related to investments into new test equipment 261,7 243,7-17,7-1,30,80,1 Cash atperiod startOperatingactivitiesInvestingactivitiesFinancingactivitiesFX effectsCash atperiod end (NOK million) Q2 2026 cash flow development
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Second quarter 2026 - Earnings presentation Outlook
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25 Second quarter 2026 - Earnings presentation Outlook •poLight’s outlook remains positive, particularly within the AR|MR segment•Several TLens® consumer PoCs are maturing and one case is now regarded as a design-in with expected product release in 2026. •This represents a major milestone and could mark an important step towards higher-volume opportunities in the AR|MR market.•Autofocus capability appears to be on the roadmap for several AR|MR players, with an increasing number of OEMs indicating this direction. •Interest in TWedge® remains strong among leading consumer OEMs. •The target remains to bring this technology to market in close cooperation with selected OEMs. This will help to secure market fit and, potentially, NRE funding.•To fully capture the opportunities in poLight’s expanding landscape, it will be essential to continue investing in customer engagement and support, innovation, strategic partnerships and organisational development. •These efforts will increase operational costs, but are necessary to build long-term shareholder value by strengthening poLight’s position as a leader in next-generation optical solutions across multiple market segments, with particular emphasis on AR|MR.
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Second quarter 2026 - Earnings presentation Q&ANEXT EVENT;•Q3 presentation 29 October 2026•Capital Market Day 2026 30 October 2026
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Second quarter 2026 - Earnings presentation Appendix
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Second quarter 2026 - Earnings presentation Jean-Christophe Eloy - Board member, independentJean-Christophe Eloy is the founder and chairperson of Yole Group. Yole Group is specialised in the semiconductor industry and providing marketing, technology and strategy consulting, reverse engineering and reverse costing in addition to corporate finance services. Mr. Eloy has spent his entire career in the semiconductor industry, starting at semiconductor applied R&D organisation CEA/LETI as marketing manager and then creating the semiconductor practice at Ernst & Young. He is a member of the board of directors of Silmach, Nexdot and Solnil. Mr. Eloy is a graduate from EM Lyon Business School, France and from engineering school INPG-ENSERG, France. Board Members Chris Liu - Board member, Q TechChris Liu is a highly experienced professional with over 15 years expertise in camera module products and 8 years in opto-mechanical products. He has since Oct 2021 been serving as the Senior Director and General Manager of the IoT Business Unit at Q Tech. Prior to this, he held various key positions in Liteon Technology. With his extensive technical and managerial experience, he has demonstrated strong leadership, innovation and expertise in advancing IoT and camera module technologies in global markets. Mr Liu holds a MSc in Electrical and Control Engineering and a BSc in Power Mechanical Engineering, both from National Tsing Hua University, Taiwan. Louis So - Board member, Q TechLouis So is a seasoned professional with over 15 years of expertise in capital market transactions, corporate investment, corporate governance and financial management. He has since January been serving as Director of Corporate Development and Investor Relations at Q Tech. Prior to his current position, he held key capital market roles in several Hong Kong listed technologies companies, such as Head of Investor Relations & Business Intelligence of TCL Communication Technology Holdings Ltd and Senior IR Manager, AAC Technologies Inc. Limited. He holds a Master's degree in Finance from The Chinese University of Hong Kong, and is currently a member of the Hong Kong Institute of Certified Public Accountants Svenn-Tore Larsen - Board member, independentSvenn-Tore Larsen served in Nordic Semiconductor as Chief Executive Officer from February 2002 until December 2023 and subsequently as Chairperson of the board of directors. Mr Larsen has broad international experience in the semiconductor business, previously as a director for the Nordic Region of Xilinx Inc. He has also been working at Philips Semiconductor. Mr Larsen is an Electronic Engineer from the University of Strathclyde, UK. Grethe Viksaas – Board Chairperson, independentGrethe Viksaas has had a long career in the Northern European managed service provider Basefarm AS. First as founder and CEO, and later as executive chair and member of the board of directors. Prior to Basefarm, Ms Viksaas served as CEO for SOL System AS and held several management positions in IT companies. She has experience from numerous board positions, including Telenor ASA. She is currently chair of the boards of Farmforce AS, Norkart AS and Skygard AS and a board member of Link Mobility Group Holding ASA and CatalystONE Solutions Holding AS. Ms Viksaas has a Master’s degree in Computer Science from the University of Oslo. Marianne Bøe - Board member, independentMarianne Bøe serves as Senior Portfolio Manager, Growth Portfolio at Hafslund. Prior to this, she served as Head of Investor Relations at IDEX Biometrics since January 2020, has held various senior asset management positions, and has been a portfolio manager for more than 20 years. She has broad and extensive experience from investing in globally listed companies, with a special focus on the technology sector. Ms Bøe holds a Master of Science degree in Economics and Business Administration from Norwegian School of Economics (NHH) and has completed the Advanced Portfolio Management Program arranged by NFF (Norsk Finansanalytiker-forening). Cathrine Wiig Ore – Board member, independentCathrine Wiig Ore has a diverse professional background in various legal roles across Norway. With over a decade of experience as a lawyer, including Attorney-at-Law at Advokatfirmaet Thommessen AS and as in-house counsel at Telenor ASA and Ice Group ASA. Additionally, she has held positions as a senior advisor in the Norwegian Ministry of Trade, Industries and Fisheries, CEO in Stress Holding and interim COO in RSM Norge. Through these roles she has gained extensive experience M&A, capital markets, strategy and business development, risk and compliance, organisational development and corporate governance. Ms Ore holds a Master of Law from the University of Oslo
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29 Second quarter 2026 - Earnings presentation Management Pierre CraenChief Technology OfficerCraen is a senior executive with more than 20 years’ experience in opto-mechanical systems engineering. Prior to joining poLight, he managed product development teams at Varioptic, Barco and Motorola/Symbol. Mr Craen holds an MSc in Optical Engineering from Sup-Optic, as well as an MSc in Applied Physics. Marianne SandalChief Operating OfficerSandal is a senior executive with background from Tele-communications (Nera) and Road User Charging (Q-Free). She holds a BSc in Mechanical Engineering in addition to courses from Norwegian School of Management (BI). She has been responsible for world wide operations for more than 15 years. Joakim Hines BredahlChief Financial OfficerBredahl is a senior executive with background from various aspects of financing through entrepreneurship, venture capital (Verdane Capital Advisors) and banking (Nordea). He has a BA (Hons) in Finance and Marketing from Strathclyde Business School. Dr Øyvind IsaksenChief Executive OfficerDr Isaksen has been CEO of poLight since August 2014. He has previously held several CEO positions, most recently in the publicly listed company Q-Free ASA, which he left in January 2014, after 7 years as CEO. Øyvind Isaksen holds a PhD in Applied Physics.
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30 Second quarter 2026 - Earnings presentation NOK 000NoteQ2 2026Q2 2025YTD 2026YTD 2025FY 2025Sale of goods5 3952 88712 6276 57319 370Rendering of services3 7401017 9462641 114Revenue9 1352 98820 5736 83720 484Change in obsolescence provision-2 193-2 745-3 527-4 629-8 013Cost of goods sold-2 534-492-4 722-1 140-3 504Gross profit4 408-24912 3241 0698 967Research and development expenses net of governmental grants6,9-11 190-11 727-21 342-22 110-49 070Sales and markeUng expenses-7 213-4 671-14 711-9 646-20 092OperaUonal / supply chain expenses-10 104-6 095-17 793-12 672-28 472AdministraUve expenses-9 049-6 792-13 344-11 340-27 855OperaHng result before depreciaHon and amorHsaHon (EBITDA)-33 148-29 533-54 866-54 700-116 522DepreciaUon and amorUsaUon 8-2 214-2 652-4 988-5 335-10 628OperaHng result (EBIT)-35 362-32 185-59 854-60 034-127 150Net financial items72 5921 5645 0403 0559 096Loss before tax-32 770-30 621-54 814-56 979-118 054Income tax expense0-315-31-207Loss for the period-32 770-30 652-54 809-57 010-118 261 Statement of income
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31 Second quarter 2026 - Earnings presentation Balance sheetNOK 000NoteQ2 2026Q2 20252025-12-31ASSETSProperty, plant and equipment12 0128 6138 683Intangible assets806 6683 031Right-of-use assets9 5269 72410 091Total non-current assets21 53825 00621 805Inventories47 04456 88553 515Trade and other receivables915 7619 8959 991Prepayments1 7198923 484Cash and cash equivalents243 744273 054283 981Total current assets308 268340 725350 971Total assets329 806365 731372 776EQUITY AND LIABILITIESShare capital8 5277 7358 511Share premium327 522381 352325 907Reserves1 1871 3161 329Retained earnings-45 255-49 2353 466Total equity291 981341 168339 213Interest-bearing loans and borrowings282340311Lease liabiliUes9 2699 2609 687Total non-current liabiliHes9 5519 6009 998Trade and other payables1026 39813 21321 725Interest-bearing loans and borrowings575757Current lease liabiliUes819694783Provisions1 0001 0001 000Total current liabiliHes28 27414 96423 565Total liabiliHes37 82524 56433 563Total equity and liabiliHes329 806365 731372 776
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32 Second quarter 2026 - Earnings presentation NOK 000NoteQ2 2026Q2 2025YTD 2026YTD 2025FY 2025OperaHng acHviHesProfit / loss (-) before tax-32 770-30 621-54 814-56 979-118 054DepreciaUon of property, plant and equipment and right-of-use assets1 0028341 9571 6973 352AmorUsaUon of intangible assets81 2121 8193 0313 6377 275Net finance income-2 592-1 564-5 040-3 055-9 096Equity-se]led share-based payments2 6492 9446 0874 88715 225Gain on disposal of property, plant and equipment000-28-8Other non-cash items3 4581 1166 4102 141-227Changes in unrealised net foreign exchange rate differences/fluctuaUons-121-9-106-1-116Changes in working capital:Increase (-) in trade and other receivables and prepayments-2 809-534-2 437-4 838-8 384Decrease (+) in inventories4 4463 0166 4715 5468 916Increase (+) in trade and other payables108 912-7294 673-3 4297 609Changes in provisions and government grants9-306-640-1 568-5 011-6 677Interest received7-525716-7141 42410 510Interest paid7-242-235-487-474-965Income tax paid0-315-31-207Net cash flows used in operaHng acHviHes-17 686-23 917-36 533-54 513-90 847InvesHng acHviHesProceeds from sale of property, plant and equipment0002845Purchase of property, plant and equipment-1 251-204-4 890-271-1 681Net cash flows used in invesHng acHviHes-1 251-204-4 889-244-1 636Financing acHviHesProceeds from issuance of ordinary shares0171 4690171 469222 910Proceeds from exercise of share opUons1 02701 6330941TransacUon costs on issue of shares0-9 9400-9 940-13 376Payment of lease liabiliUes -194-164-382-324-714Repayment of borrowings-15-14-30-29-58Net cash flows from/(used in) financing acHviHes818161 3511 221161 177209 703Net increase/decrease in cash and cash equivalents-18 119137 230-40 201106 421117 220Effect of exchange rate changes on cash and cash equivalents13167-36-1199Cash and cash equivalents at the start of the period261 732135 757283 981166 752166 752Cash and cash equivalents at the close of the period243 744273 054243 744273 054283 981 Adjustments for: Cash flow
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Second quarter 2026 - Earnings presentation