Interim report
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Freemelt Freemelt Freemelt Q2 Interim report April - June 2026
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2 Q2 Interim report 2026 Freemelt Holding AB (publ) Contents Executive summary 3 The period in brief 4 CEO comments 5 Freemelt - market and business overview 8 Financial summary – Freemelt Holding AB (publ) 11 Freemelt history 13 Key figures and the share 14 Consolidated income statement summary 15 Income statement parent company Freemelt Holding AB (publ) summary 18 Additional information 21 The board’s assurance 22 Other information 23 This information is information that Freemelt Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication on August 11, 2026.
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3 Q2 Interim report 2026 Freemelt Holding AB (publ) Apr - Jun Apr - Jun Jan - Jun Jan - Jun Full year KSEK 2026 2025 2026 2025 2025 Net sales 9 039 19 074 15 370 22 000 54 549 Net sales % (year-on-year) -53% +691% -30% +582% +172% Operating result -23 370 -20 528 -49 846 -44 612 -91 978 Operating result % (year-on-year) -14% +23% -12% +11% -1% Result after financial items -23 425 -20 210 -49 931 -44 266 -91 190 Balance sheet total 198 698 264 615 198 698 264 615 206 225 Equity ratio 87% 89% 87% 89% 92% Cash flow for the period 14 132 -17 814 9 338 37 542 15 543 Orderbook 25 609 26 264 25 609 26 264 15 104 Order intake 22 200 19 980 25 965 42 054 60 068 Consolidated key figures Executive summary The market for additive manufacturing is entering a new phase, with demand expanding towards qualified advanced metal components, production capability and robust supply chains. Freemelt sees strategic opportunities to broa- den its offering into a European industrial platform and address a significantly larger market. In the period, Freemelt continued to leverage its partnerships outside Europe. In the US, the company received an or- der from Intalus for two eMELT systems, marking Freemelt’s first industrial establishment in the US market. Freemelt also received an additional machine order from its partner Jiuli in China. Freemelt signed an additional order with Saab Dynamics, further strengthening its position in defense. The company also continued to build momentum in fusion through a project order from US-based TAE Technologies for the manu- facture of tungsten components. Freemelt raised SEK 35 million before issue costs through subscription of the TO1 warrant. In total, 97 per cent of the outstanding warrants were exercised during the exercise period, strengthening the company’s financial position and continued business development. Project overview Number of sold machines Number of active projects at quarter end in each phase. Number of sold machines (cumulative). Freemelt® ONE e‑MELT® Freemelt® e‑MELT® Ongoing Feasibility Ongoing Proof‑of‑concept 0 5 10 15 20 25 30 35 40 45 50 25 Q2 25 Q3 25 Q4 26 Q1 26 Q2 0 2 4 6 8 10 12 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26
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4 Q2 Interim report 2026 Freemelt Holding AB (publ) Events in the period, Q2 2026 – Freemelt received a follow-on order from a leading Swedish defense company for continued development and prototype manufacturing of components for the defense industry. – Freemelt received an order for a Freemelt® ONE from the Belgian research and development center Sirris. – Freemelt received an order for two eMELT® machines from US-based Intalus. – Freemelt received an order from TAE Technologies within fusion. – Freemelt received an additional order for an eMELT® machine from its partner Jiuli. – Freemelt announced that 97% of the TO 1 warrants where used to subscribe to 38 943 913 new shares. Events after the period – Freemelt was granted Vinnova funding for two projects with Saab Dynamics and Hitachi Energy in critical materials. – Freemelt entered into an MoU with Proxima Fusion and joins the Alpha Alliance. The period in brief
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5 Q2 Interim report 2026 Freemelt Holding AB (publ) The market for additive manufacturing is entering a new phase, with customer demand increasingly shifting from machines, development projects and prototyping towards qualified advanced metal components, production capability and robust regional supply chains. This development is particularly clear in areas such as fusion, defense and advanced industrial manufacturing, where geopolitical tensions, increased investments in energy and defense, and a growing focus on regionalized supply chains are reshaping the conditions for industry. Building on our established technology position, we see strategic opportunities to broaden our offering towards a more complete European industrial platform for qualified advanced metal components, address a significantly larger market and strengthening the link between technology le- adership and scalable industrial revenue. Leveraging partnerships outside Europe During the quarter, we took several important steps forward together with both new and existing custo- mers. In the US, we received an order from Intalus for two eMELT systems for technology and application development, including an option for additional systems in a later phase. The order marks our first industrial establishment in the US market and demon- strates how our offering attracts players working with advanced materials and future serial production. Freemelt received an additional machine order from our partner Jiuli in China. Together with the strategic cooperation agreement, this gives us continued access to one of the world’s fastest-growing markets for metal additive manufacturing. The order provides A new phase for additive manufacturing CEO comments Freemelt’s focus segments and examples of established collaborations: further confirmation that the collaboration is deve- loping according to plan and creates conditions for continued commercial expansion in the region. Expanding our role across the value chain For several years, Freemelt has built a strong position in material development, application development and advanced E-PBF technology. At the same time, the market is evolving, with customer demand gradually shifting from machines and development projects towards qualified advanced metal components, production capability and robust supply chains. This is particularly evident in fusion, defense and other critical industrial applications, where advanced materials, qualification and regionalized manufacturing are becoming increasingly important.
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6 Q2 Interim report 2026 Freemelt Holding AB (publ) For us, this represents a natural development of the business. Through our established expertise in materials, process development and production technologies, we can gradually take a larger role across the value chain and become an end-to-end partner in Europe for customers requiring qualified advanced metal components. At the same time, our partnerships outside Europe enable us to leverage our technology platform in key international markets. Through this repositioning, we can address a signifi- cantly larger market and capitalize on our technology position, while continuing to drive industrialization and meet the market’s changing needs. Continued progress in defense Within defense, we continue to see strong underlying demand driven by increased investments, require- ments for supply chain resilience and the need for advanced materials in qualified applications. During the period, we took the next step in our collabo- ration with Saab Dynamics, which placed an additional order for continued development and prototyping of components. The order builds on previously comple- ted material and application studies and advances the project towards proof-of-concept. For us, this is above all an important confirmation of the customer’s continued confidence in our technology, our expertise in advanced materials and our ability to meet the requirements of critical industrial applications. After the end of the period, our position was further strengthened as Freemelt was granted Vinnova funding for two projects together with, among others, Saab Dynamics, Hitachi Energy, Linköping University and RISE. The projects focus on critical materials such as tungsten and advanced nickel-based alloys and further deepen our expertise in areas of growing strategic importance. Continued momentum in fusion Fusion continues to develop from a research field into a robust emerging industrial market. During the quarter, we received an order from US-based TAE Technologies, one of the most established private companies in commercial fusion, for the manufacture of tungsten components for technical verification and process evaluation. The order confirms our position in tungsten and advanced materials, while giving us additional exposure to an area with significant long- term potential. After the end of the period, we also signed a letter of intent with Proxima Fusion, one of Europe´s most prominent fusion companies, and became a member of Alpha Alliance, an industrial ecosystem established to accelerate the development of next-generation fusion power plant. Through the collaboration, we will contribute expertise in E PBF technology and the manufacture of advanced tungsten components, putting us in a strong position in one of the most
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7 Q2 Interim report 2026 Freemelt Holding AB (publ) strategically important emerging markets for advan- ced metal manufacturing in Europe. Strengthening our position in MedTech Within MedTech, we are gradually consolidating our position through collaborations with some of the most established global OEMs. Additive manufacturing is already established in this segment, but the market is also highly regulated, which means that qualification processes for new components are often long and demanding. At the same time, this creates the potential to build a position within established custo- mer structures over time and lay the foundation for long-term and deep collaborations. In MedTech, we therefore expect to continue primarily as a develop- ment partner and system supplier, supporting custo- mers as they scale additive manufacturing in qualified applications. Strong support from shareholders In June, the exercise period for the warrants of series TO1 was completed. In total, 97 per cent of the out- standing warrants were exercised, providing Freemelt with SEK 35 million before issue costs. We see the high participation as a clear expression of shareholders’ continued confidence in the company, our technology and our long-term ambition. The capital strengthens our financial position and improves our conditions to continue developing the business and support the growth we see ahead of us. We enter the second half of 2026 with high activity in our customer projects, following a quarter with strong order intake of SEK 22.2 million and an order book that amounted to SEK 25.6 million at the end of the period. At the same time, we have strengthened our position within our focus areas, and several important collabo- rations are developing in the right direction. We are also taking further steps towards a broader industrial platform for qualified advanced metal components, creating new opportunities to address a larger market and, over time, build a more scalable business. I would like to thank our customers, partners, employees and shareholders for your continued confidence and commitment. Thank you for being part of the journey! Daniel Gidlund CEO, Freemelt Holding AB (publ) Gothenburg, August 11, 2026
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8 Q2 Interim report 2026 Freemelt Holding AB (publ) Freemelt – market and business overview Market drivers for metal-based additive manu- facturing The market is defined by three clear challenges which, at the same time, are driving increased demand for metal-based additive manufacturing (AM). First, time-to-market is becoming increasingly business-cri- tical, particularly in fast-changing industries, increa- sing the need for shorter lead times, flexible produc- tion and more robust supply chains. Second, demand for advanced, high-performance alloys and qualified metal components is accelerating, driven by applica- tions that push the limits of both materials and processes. Third, the adoption of new manufacturing technologies requires higher productivity in order to enable scalable unit economics and industrial roll-out. Taken together, this is driving broader use of metal-ba- sed AM, where Powder Bed Fusion (PBF) has establis- hed itself as the dominant technology. The metal-based AM market is growing structurally faster than industry overall and is gradually moving from research and prototyping towards industrial application, serial production and finished compo- nents. According to AM Power, the market for me- tal-based AM is expected to grow by more than 18% annually (CAGR) and reach EUR 15 billion in 2032. As Freemelt gradually broadens its offering towards quali- fied advanced metal components and takes a larger role in customers’ value chains, the company can address a significantly larger market. Within PBF, Laser PBF continues to dominate the volume segment, while Electron Beam Powder Bed Fusion (E-PBF) is increa- singly used in applications with high requirements for process stability, productivity and material properties. E-PBF is therefore assessed to have relatively faster growth than other PBF technologies, driven by three factors: (1) up to 30% higher productivity, enabling a clear step-change in cost efficiency compared with L-PBF, (2) the ability to process high-temperature and refractory materials that are central to next-genera- tion energy, aerospace and defence applications, and (3) industrial process stability through vacuum-based manufacturing, which reduces defects and improves component consistency. This is particularly driving adoption within advanced medical technology, defence and fusion. Freemelt’s industrial platform for advanced metal components Freemelt has developed a technologically leading E-PBF platform with a product portfolio spanning from R&D to industrial production. The company’s R&D system, Freemelt®ONE, is primarily used by research institutes and universities for advanced materials development and application research, while eMELT® is a modular system platform designed for scalable, industrial production. The vacuum-based process enables stable and repeatable manufacturing in
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9 Q2 Interim report 2026 Freemelt Holding AB (publ) high-temperature materials such as tungsten, titani- um and copper – materials where alternative PBF technologies often reach their limitations. Overall, this provides good conditions for industrialisation for customers with high requirements for quality, material performance and production outcomes. The company’s software solution is based on open source to maximise customers’ flexibility in both product and process development. The architecture gives customers full access to process and machine data, thereby supporting rapid iteration, parameter optimisation and application tailoring. This data-rich environment also creates a strong foundation for AI-driven process development, where customers can use machine and process data to improve repeatabili- ty, accelerate qualification and optimise production outcomes. At the same time, customers retain control over their machines, processes and know-how, enabling them to build proprietary process knowledge and application-specific IP on Freemelt’s platform. This contributes to a more efficient transition from development to industrial application. The industrialisation work is driven through close customer projects where Freemelt acts as a strategic partner throughout the development journey – from pre-studies, via proof-of-concept, to industrial production. This approach enables early technical and commercial validation, while integrating customers’ requirements, use cases and need for finished components into the development work. As customer demand gradually shifts from machines and develop- ment projects towards qualified advanced metal components, strategic opportunities are also created to broaden Freemelt’s role in the value chain over time. Established position and focus areas Freemelt today holds an established global #2 position within E-PBF and has an installed base of more than 45 systems. The business is focused on four main areas: • Academia, which provides a strategic foundation for long-term material and application development. • Medical technology, where metal-based AM is increasingly used in industrial production and where qualification of new components often takes place over longer periods of time. • Defence, where the need for advanced materials, shorter lead times, security of supply and regional production capability is increasing. • Fusion, an area where requirements for high-tempe- rature materials, process stability and advanced component manufacturing are extensive. Academic installations play an important role as testbeds and a knowledge base for further industriali- sation within the industrial application areas. Scalable system production through industrial partnerships To enable future scaling, Freemelt has chosen a capital-efficient delivery model where manufacturing of the company’s systems is outsourced to Scanfil. This provides access to an industrially established pro- duction platform with robust quality and process systems, while allowing Freemelt to focus on techno- logy development, applications and commercialisa- tion. The model also enables regional manufacturing, which strengthens delivery capability and helps reduce operational and geopolitical risks. Go-to-market strategy Freemelt addresses the market through a combina- tion of direct sales and strategic partnerships. Sales to academic and industrial customers form a coherent customer journey where the company positions itself as a long-term partner in customers’ transition from material and application development to industrial additive manufacturing. This position, together with growing customer-driven demand for production capability and qualified advanced metal components, creates the conditions for Freemelt to gradually take a larger role in customers’ value chains. In Europe, the market is addressed through dedicated sales teams in Sweden, the Netherlands and the UK, enabling close customer collaboration and efficient market penetration. The US market is addressed through Freemelt’s US sales team, with a focus on customer engagement within core segments for high-performance metal-based AM. The fast-growing Chinese market is addressed via the sales agent Jiuli, under an agreement established in spring 2025.
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10 Q2 Interim report 2026 Freemelt Holding AB (publ) Business model and financial development Freemelt’s business model combines system sales with recurring service revenues and project-based customer revenues, and will in the longer term be complemented by manufacturing services of qualified parts and component-related revenues to meet growing customer-driven demand for finished compo- nents, accelerate industrial adoption and generate a higher share of recurring revenues. Revenues can be summarised in three main streams: • Project revenues: project-based revenues from customer-driven development programmes and industrialisation initiatives. • System sales: sales of 3D printers at a fixed price, supplemented by support and maintenance services that generate recurring revenues. • Manufacturing services: sales of end-to-end manufacturing, from design to finished component, priced per component produced. Financially, Freemelt is in a phase where the installed base is being expanded while the first industrial serial commissioning projects are being initiated, marking a shift from technical validation to early commercial adoption. As customers move from single systems to multi-machine installations, scalability in the business is strengthened, while the share of recurring revenues from service, support and software is expected to increase towards approximately 20–30%. As customer demand increasingly shifts towards qualified advanced metal components, manufacturing services and compo- nent-related revenues will also become more important as customer demand for finished components, produc- tion capability and robust supply chains increases. This is assessed to create operational leverage and contribute to a gradual expansion of the gross margin. In the longer term, the ambition is to develop more platform-driven business models with high-margin services and softwa- re, including pay-per-use set-ups in selected verticals. Freemelt operates in a rapidly growing technology segment and has established a position within applica- tions with high barriers to entry. Overall, this is assessed to create good conditions for long-term value-creating growth and for broadening the offering over time towards a more complete industrial platform for qualified advanced metal components.
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11 Q2 Interim report 2026 Freemelt Holding AB (publ) Freemelt Holding AB (publ) Financial summary BACKGROUND The Freemelt group originates from June 17th, 2021 when Freemelt Holding AB (publ) acquired Freemelt AB. Freemelt AB in turn has two subsidiaries; Fre- emelt-Americas, Inc in the US and Freemelt Deutschland GmbH in Germany. In the following financial commentary, figures within parethesis represent the same period previous year. THE GROUP Income Net sales in the second quarter totalled 9 039 KSEK (19 074 KSEK). Machine income represented 72% of net sales in the quarter and aftermarket 19%. Income from customer projects together with other sales totalled 9% of net sales. Two machines were installed in the quarter which were also booked as sales in the period. In the quarter, other operating income totalled 489 KSEK (1 558 KSEK). This item includes soft funding of 142 KSEK, currency gains of 337 KSEK and other income of 10 KSEK. Currency losses are booked as other operating expenses. Order intake in the second quarter totalled 22 200 KSEK (19 980 KSEK), which represents the total value of received purchase orders during the period. The orderbook at quarter end amounted to 25 609 KSEK (26 264 KSEK). The figure represents customer orders not yet booked in the income statement. Operating expenses Operating expenses in the second quarter totalled 37 516 KSEK (46 820 KSEK) of which trade goods amoun- ted to 3 587 KSEK (10 415 KSEK). These were lower than the same period last year due to lower sales. Other external costs amounted to 6 885 KSEK (9 383 KSEK). Depreciation increased to 15 830 KSEK (14 955 KSEK) due to completion of development projects. Other operating expenses, consisting of currency losses, amounted to 230 KSEK (1 038 KSEK). Personnel costs in the second quarter totalled 10 984 KSEK (11 029 KSEK). The group had 40 employ- ees at quarter end (40). Currency effects During the second quarter, the group recorded currency gains of 337 KSEK (604 KSEK) and currency losses of 230 KSEK (1 038 KSEK). These are booked as other operating income and other operating expenses respectively. Group sales is mostly in foreign currency whereas operating expenses is mostly in Swedish kronor. 0 5 000 10 000 15 000 20 000 25 000 30 000 35 000 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Orderbook 0 4 000 8 000 12 000 16 000 20 000 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Net sales Machines Aftermarket Customer projects and other
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12 Q2 Interim report 2026 Freemelt Holding AB (publ) Result The Q2 operating result came in at -23 370 KSEK (-20 528 KSEK) and the result after financial items was -23 425 KSEK (-20 210 KSEK). Financial items totalled -55 KSEK (318 KSEK). This includes accrued interest on bank balances and interest cost on a loan. The negative result is explained by the current growth and commercialization phase the company is under- going where costs are higher than income. Cash flow Cash flow in the second quarter was 14 132 KSEK (-17 814 KSEK). During the quarter, 33 041 KSEK was raised through a warrant conversion. Cash flow from operating activities amounted to -14 008 KSEK (-14 405 KSEK) Financial position As of June 30th 2026, group equity totalled 173 545 KSEK (235 487 KSEK). Current liabilities totalled 25 153 KSEK (29 128 KSEK) of which 5 000 KSEK (0 KSEK) represents non-current liabilities in the form of a loan. Group assets totalled 198 698 KSEK (264 615 KSEK) and consist mostly of intangible assets including goodwill, balanced development work and patents totalling 106 484 KSEK (154 016 KSEK). Tangible assets totalled 14 959 KSEK (6 457 KSEK). Inventory of trade goods was 16 854 KSEK (20 906 KSEK). Inventory mainly consists of production stock, service stock and prepayment of goods. Cash at bank end of period was 41 582 KSEK (53 984 KSEK). Investments Investments in intangible assets are mainly related to balanced development work of the industrial machine e-MELT® and related processes. Freemelt also balan- ces costs related to patents. Tangible assets consist of machines and installations used in the group’s application centers and development organization. Solidity Solidity (equity ratio) at quarter end was 87% (89%). PARENT COMPANY Net sales in the quarter totalled 222 KSEK (178 KSEK). The income refer to a Management fee for services rendered during the period which Freemelt Holding AB (publ) invoiced the subsidiary Freemelt AB. The parent company’s other external costs of 635 KSEK (728 KSEK) are mainly related to being a public company. Costs include advisors, investor relations, exchange fees and common group related expenses. Personnel costs of 264 KSEK (232 KSEK) represent accrued wages to the Board of Directors. The operating result totalled -677 KSEK (-782 KSEK) and the result after financial items totalled -127 KSEK (-1 KSEK). Interest income relates to intra-group loans from the parent to the subsidiary Freemelt AB. -16 000 -14 000 -12 000 -10 000 -8 000 -6 000 -4 000 -2 000 0 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Operating cashflow 0 4 000 8 000 12 000 16 000 20 000 24 000 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Inventory
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Freemelt’s history – Freemelt outsourced production of its 3D-printers to external supplier Scanfil 2025 2023 – e-MELT®-iD was launched and a first order was received – Freemelt established an American subsidiary 2021 – Freemelt was listed on Nasdaq First North Growth Market – Freemelt received its first patent 2018 – Freemelt® ONE was launched and a first order was received 2017 – Freemelt was founded 13 Q2 Interim report 2026 Freemelt Holding AB (publ)
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14 Q2 Interim report 2026 Freemelt Holding AB (publ) The share Change in number Total number Subscription Change in Total SEK Date Quota of shares of shares price share capital share capital Company founded 2017-03 0.05 1 000 000 1 000 000 0.05 50 000 50 000Company founded 2017-03 0.05 1 000 000 1 000 000 0.05 50 000 50 000 Share issue 2021-04 0.05 705 000 1 705 000 0.05 35 250 85 250Share issue 2021-04 0.05 705 000 1 705 000 0.05 35 250 85 250 Share issue 2021-04 0.05 500 000 2 205 000 10 25 000 110 250Share issue 2021-04 0.05 500 000 2 205 000 10 25 000 110 250 Share issue 2021-06 0.05 34 395 000 36 600 000 10 1 719 750 1 830 000Share issue 2021-06 0.05 34 395 000 36 600 000 10 1 719 750 1 830 000 Share issue 2023-02 0.05 11 000 000 47 600 000 6 550 000 2 380 000Share issue 2023-02 0.05 11 000 000 47 600 000 6 550 000 2 380 000 Share issue 2024-04 0.05 21 155 555 68 755 555 3.1 1 057 778 3 437 778Share issue 2024-04 0.05 21 155 555 68 755 555 3.1 1 057 778 3 437 778 Share issue 2025-03 0.05 119 999 994 188 755 549 0.76 6 000 000 9 437 777Share issue 2025-03 0.05 119 999 994 188 755 549 0.76 6 000 000 9 437 777 Warrant conversion 2026-06 0.05 38 943 913 227 699 462 0.90 1 947 196 11 384 973Warrant conversion 2026-06 0.05 38 943 913 227 699 462 0.90 1 947 196 11 384 973 Freemelt Holding AB (publ), 559105-2922, is listed on the Nasdaq First North Growth Market since July 7th, 2021. The company is traded under the short name ”FREEM” with ISIN code SE0011167170. The company’s operations mainly take place through the subsidiary Freemelt AB, which was acquired by Freemelt Holding AB (publ) on June 7th, 2021. Apr - Jun Apr - Jun Jan - Jun Jan - Jun Full year KSEK 2026 2025 2026 2025 2025 Net sales 9 039 1 9 074 15 370 22 000 54 549 Net sales % (year-on-year) -53% +691% -30% +582% +172% Operating result -23 370 -20 528 -49 846 -44 612 -91 978 Operating result % (year-on-year) -14% +23% -12% +11% -1% Result after financial items -23 425 -20 210 -49 931 -44 266 -91 190 Balance sheet total 198 698 264 615 198 698 264 615 206 225 Equity ratio*** 87% 89% 87% 89% 92% Cash flow for the period 14 132 -17 814 9 338 37 542 15 543 Orderbook* 25 609 26 264 25 609 26 264 15 104 Order intake** 22 200 19 980 25 965 42 054 60 068 Number of shares on the balance sheet date 227 699 462 188 755 549 227 699 462 188 755 549 188 755 549 Average number of shares before dilution 189 183 504 188 755 549 188 970 709 148 313 562 168 700 755 Average number of shares after dilution**** 208 893 112 233 465 060 208 680 317 180 373 637 229 796 148 Earnings per share before dilution (SEK) -0.12 -0.11 -0.26 -0.30 -0.54 Earnings per share after dilution (SEK) -0.11 -0.09 0.24 -0.25 -0.40 * Orderbook is the total value of received purchase orders which have not yet been booked in the income statement. ** Order intake is the total value of received purchase orders in the period. *** Equity ratio (solidity) indicates what proportion of the assets are financed with equity capital, adjusted equity as a percentage of balance sheet total. **** Dilution includes outstanding stock options and employee stock options. Consolidated key figures
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15 Q2 Interim report 2026 Freemelt Holding AB (publ) Consolidated income statement Summary Apr - Jun Apr - Jun Jan - Jun Jan - Jun Full year KSEK 2026 2025 2026 2025 2025 Income Net sales 9 039 19 074 15 370 22 000 54 549 Activated work for own account 4 618 5 660 8 548 9 504 16 611 Other operating income 489 1 558 3 782 2 658 9 160 Sum income 14 146 26 292 27 700 34 162 80 320 Operating expenses Trade goods -3 587 -10 415 -6 291 -10 944 -28 208 Other external costs - 6 885 -9 383 -14 207 -16 210 -31 115 Personnel costs - 10 984 -11 029 -22 450 -21 254 -44 305 Depreciation tangible and intagible assets -15 830 -14 955 -31 474 -28 812 -61 068 Other operating expenses -230 -1 038 -3 124 -1 554 -7 602 Sum operating expenses -37 516 -46 820 -77 546 -78 774 -172 298 Operating result -23 370 -20 528 -49 846 -44 612 -91 978 Result from financial items Interest income and similar items 40 328 88 463 908 Interest expense and similar items -95 -10 -173 -117 -120 Sum financial items -55 318 -85 346 788 Result after financial items -23 425 -20 210 -49 931 -44 266 -91 190 Tax on the period’s results -187 -2 -187 -3 -2 RESULT FOR THE PERIOD -23 612 -20 212 -50 118 -44 269 -91 192
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16 Q2 Interim report 2026 Freemelt Holding AB (publ) Consolidated balance sheet Summary KSEK 2026-06-30 2025-06-30 2025-12-31 ASSETS Non-current assets Intangible assets Goodwill * 10 759 58 282 34 521 Balanced development work 89 773 91 121 86 268 Patents 5 952 4 613 5 591 Total intangible assets 106 484 154 016 126 380 Tangible assets Leasehold improvements 396 514 455 Machinery and other technical facilities 13 314 4 651 15 910 Equipment, tools and installations 1 249 1 292 1 058 Total tangible assets 14 959 6 457 17 423 Financial assets Deferred tax claim ** 5 230 5 230 5 230 Total non-current assets 126 673 165 703 149 033 Current assets Inventory, etc Raw materials, consumables, trade goods 16 854 20 906 12 902 16 854 20 906 12 902 Receivables Accounts receivable 9 297 19 829 8 845 Other receivables 914 603 786 Prepaid expenses and accrued income 3 378 3 590 2 559 13 589 24 022 12 190 Cash and bank balances 41 582 53 984 32 100 Total current assets 72 025 98 912 57 192 TOTAL ASSETS 198 698 264 615 206 225 EQUITY AND LIABILITIES Equity Share capital 11 385 9 438 9 438 Other capital contributed 564 924 533 830 533 830 Other equity including this year’s result -402 764 -307 781 -353 922 Total equity 173 545 235 487 189 346 Non-current liabilities Other liabilities 5 000 - - Current liabilities Accounts payables 6 188 8 429 3 324 Tax liabilities 131 368 437 Other liabilities 1 813 1 885 1 246 Accrued costs and prepaid income 12 021 18 446 11 872 Total current liabilities 20 153 29 128 16 879 TOTAL EQUITY AND LIABILITIES 198 698 264 615 206 225 * The Group’s Goodwill arose when Freemelt Holding AB acquired Freemelt AB on 2021-06-17. The value of the acquired company then exceeded the acquired equity by approximately MSEK 238. The group depreciates Goodwill over 5 years. ** Considering the uncertainty about future profitability, the group has not recognized deferred tax claims after year 2021.
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17 Q2 Interim report 2026 Freemelt Holding AB (publ) Consolidated statement of cash flows Summary Apr - Jun Apr - Jun Jan - Jun Jan - Jun Full year KSEK 2026 2025 2026 2025 2025 Cash flow from operating activities Result after financial items -23 425 -20 210 -49 931 -44 266 -91 190 Adjustments for items not affecting cash flow 16 087 14 955 31 731 28 812 61 128 Cash flow from operating activities before -7 338 -5 255 -18 200 -15 454 -30 062 changes in working capital Increase (-)/Decrease (+) Inventory -7 459 -3 760 -3 695 -7 199 805 Increase (-)/Decrease (+) Receivables -4 435 -7 111 -1 399 -17 642 -5 812 Increase (+)/Decrease (-) Payables 5 224 1 721 3 274 12 619 372 Net cash from operating activities -14 008 -14 405 -20 020 -27 676 -34 697 Cash flow from investing activities Investments in intangible fixed assets -4 972 -6 360 -9 214 -10 774 -19 238 Investments in tangible fixed assets -386 2 809 -438 2 738 -4 502 Net cash from investing activities -5 358 -3 551 -9 652 -8 036 -23 740 Cash flow from financing activities Share issue 33 041 -378 33 041 77 711 77 711 Stock options -49 432 -49 432 467 Employee stock options 506 88 1 018 111 802 Long term liabilities 0 0 5 000 -5 000 -5 000 Cash flow from financing activities 33 498 142 39 010 73 254 73 980 Cash flow for the period 14 132 -17 814 9 338 37 542 15 543 Cash and cash equivalents at beg. of period 27 430 71 822 32 100 16 625 16 625 Exchange rate diff. in cash and cash equivalents 20 -24 144 -183 -68 CASH AND CASH EQUIV ALENTS END OF PERIOD 41 582 53 984 41 582 53 984 32 100
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18 Q2 Interim report 2026 Freemelt Holding AB (publ) Consolidated statement of changes in equity Summary Income statement Parent company Freemelt Holding AB (publ) Summary Retained earnings Other capital incl. this period’s Total KSEK Share capital contributed result equity Opening balance 2026-01-01 9 438 533 830 -353 922 189 346 Share issue 1 947 31 095 33 042 Conversion difference 306 306 Stock options -49 -49 Employee stock options 1 018 1 018 Result for the period -50 118 -50 118 Closing balance 2026-06-30 11 385 564 925 -402 765 173 545 Opening balance 2025-01-01 3 438 461 966 -263 687 201 717 Share issue 6 000 71 864 77 864 Conversion difference -312 -312 Stock options 467 467 Employee stock options 802 802 Result for the period -91 192 -91 192 Closing balance 2025-12-31 9 438 533 830 -353 922 189 346 Apr - Jun Apr - Jun Jan - Jun Jan - Jun Full year KSEK 2026 2025 2026 2025 2025 Income Net sales 222 178 435 349 771 Sum income 222 178 435 349 771 Operating expenses Other external expenses -635 -728 -1 204 -1 584 -2 631 Personnel costs -264 -232 -535 -444 -987 Sum operating expenses -899 -960 -1 739 -2 028 -3 618 Operating result -677 -782 -1 304 -1 679 -2 847 Result from financial items Interest income and similar items 550 781 1 074 1 553 2 841 Interest cost and similar items 0 0 0 -108 -108 Sum financial items 550 781 1 074 1 445 2 733 Result after financial items -127 -1 -230 -234 -114 Tax on the period’s results 0 0 0 0 0 RESULT FOR THE PERIOD -127 -1 -230 -234 -114
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19 Q2 Interim report 2026 Freemelt Holding AB (publ) Balance sheet Parent company Freemelt Holding AB (publ) Summary KSEK 2026-06-30 2025-06-30 2025-12-31 ASSETS Non-current assets Financial fixed assets Shares in subsidiaries 473 007 425 675 436 367 Receivables from group companies 82 394 80 370 81 377 Total non-current assets 555 401 506 045 517 744 Current assets Current receivables Receivables from group companies 319 222 263 Other receivables 516 176 50 Prepayments and accrued income 229 643 119 1 064 1 041 432 Cash and bank balances 19 691 32 305 22 086 Total current assets 20 755 33 346 22 518 TOTAL ASSETS 576 156 539 391 540 262 EQUITY AND LIABILITIES Equity Share capital 11 385 9 438 9 438 Other capital contributed 564 924 533 830 533 830 Balanced profit or loss -5 093 -4 979 -4 979 Stock options 538 552 587 Employee stock options 1 797 88 779 Result for the period -230 -234 -114 Total equity 573 321 538 695 539 541 Current liabilities Account payables 2 149 138 68 Other liabilities 461 336 0 Accrued costs and prepaid income 225 222 653 Total current liabilities 2 835 696 721 TOTAL EQUITY AND LIABILITIES 576 156 539 391 540 262
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20 Q2 Interim report 2026 Freemelt Holding AB (publ) Statement of changes in equity Parent company Freemelt Holding AB (publ) Retained earnings Other capital incl. this period´s Total KSEK Share capital contributed result equity Opening balance 2026-01-01 9 438 533 830 -3 727 539 541 Share issue 1 947 31 094 33 041 Employee stock options 1 018 1 018 Stock options -49 -49 Result for the period -230 -230 Closing balance 2026-06-30 11 385 564 924 -2 988 573 321 Opening balance 2025-01-01 3 438 461 966 -4 882 460 522 Share issue 6 000 71 864 77 864 Stock options 467 467 Employee stock options 802 802 Result for the period -114 -114 Closing balance 2025-12-31 9 438 533 830 -3 727 539 541
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21 Q2 Interim report 2026 Freemelt Holding AB (publ) Additional information Risks and uncertainties Freemelt is in a growth and development phase where costs exceed net sales. This is the main reason for the company’s negative result and negative operating cash flow. Risks and uncertainties are described in more detail in the group’s annual report 2025. Accouting principles The group and parent company apply the Annual Accounts Act and BFNAR 2012:1 Annual Accounts and Group accounting rules (K3). Options The group has outstanding stock option and employee stock option programs. Maximum dilution from all programs as of quarter end amounted to approximately 8.0% based on the number of shares after full subscription. The calculation does not take into account the ”net exercise” structure used in the stock option and some employee stock option programs which will reduce the de facto actual dilution. The share Freemelt Holding AB (publ) has been listed on the Nasdaq First North Growth Market since July 7, 2021. The company is traded under the short name ”FRE- EM” with ISIN code SE0011167170. Eminova Fondkom- mission is Freemelt’s Certified Adviser. Eminova Fondkommission AB, Biblioteksgatan 3, 3 tr. 114 46 Stockholm Phone: +46 8 684 211 10 adviser@eminova.se Financial reports Financial reports are available on the company’s website, www.freemelt.com, on the same day as they are published. Audit The present report has not been subject to review by the company’s auditor.
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22 Q2 Interim report 2026 Freemelt Holding AB (publ) The Board and the Managing Director hereby certify that the quarterly report provides a fair overview of the parent company and the group’s operations, financial position and results. Gothenburg on August 11th, 2026 Freemelt Holding AB (publ) Roland Kasper Chairman of the Board Mikael Wahlsten Martin Julander Cecilia Jinert Johansson Board member Board member Board member Per Anell Johannes Henrich Schleifenbaum Board member Board member Daniel Gidlund Managing Director & CEO The Board’s assurance
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Financial calender Q3 2026 Interim report November 3, 2026 Q4 2026 Interim report February 23, 2027 Contact information Freemelt Holding AB (publ) Fiskhamnsgatan 6A 414 51 Göteborg, Sweden E-post: finance@freemelt.com Daniel Gidlund, CEO Phone: +46 70 246 45 01 E-mail: daniel.gidlund@freemelt.com Martin Granlund, CFO Phone: +46 70 279 04 28 E-mail: martin.granlund@freemelt.com Other information