Interim report
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We enable, save, maintain and improve lives Interim report Q3 2026
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Interim report July-September 2026 The figures presented in this report refer to con nuing opera ons unless otherwise stated. The Indian hospital opera on is reported as a disposal group held for sale and as a discon nued opera on. Group total refers to con nuing opera ons and discon nued opera ons. The compara ve numbers have been restated where applicable. Revenue amounted to EUR 570.8 million (EUR 538.7 million), an increase of 6.0% with an organic growth of 8.0%. Opera ng profit (EBIT) was EUR 49.3 million (EUR 40.4 million), an increase of 22.0% represen ng an opera ng margin of 8.6% (7.5%). Net profit amounted to EUR 24.8 million (EUR 19.2 million), an increase of 29.2%, which represents a margin of 4.3% (3.6%). Net profit for Group total amounted to EUR 25.2 million (EUR 18.6 million). EBITDA was EUR 99.3 million (EUR 90.9 million), an increase of 9.3%. EBITDA margin was 17.4% (16.9%). EBITDAaL amounted to EUR 70.9 million (EUR 63.2 million), an increase of 12.4%, corresponding to an EBITDAaL margin of 12.4% (11.7%). Net cash flow from opera ng ac vi es was EUR 93.8 million (EUR 98.8 million) for Group total. Basic/diluted earnings per share were EUR 0.162 (EUR 0.127). Divestment of the Indian hospital business announced, expected to close in Q4, genera ng gross cash proceeds of EUR 0.74 billion. Medicover is a leading interna onal healthcare and diagnos c services company and was founded in 1995. Medicover operates a large number of ambulatory clinics, hospitals, specialty-care facili es, laboratories, gyms and blood-drawing points and the largest markets are Poland, Germany, Romania and India. In 2025, Medicover had revenue of EUR 2,378 million and more than 49,000 employees. For more informa on, go to medicover.com 8.0% Organic revenue growth 17.4% EBITDA margin EUR 93.8m Opera ng cash flow (Group total) “The third quarter has been an even ul quarter, during which we announced the divestment of our Indian hospital business, con nued to op mise our footprint, and added new fitness facili es and blood- drawing points. We con nued to deliver organic growth and margin expansion, genera ng solid cash flows from the business.” John Stubbington, CEO Interim report July-September 2026 1
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Revenue and earnings EUR million Q3 2026 Q3 2025¹ ∆ 9M 2026 9M 2025¹ ∆ LTM FY 2025¹ Con nuing opera ons Revenue 570.8 538.7 6% 1,721.6 1,618.0 6% 2,281.0 2,177.4 Opera ng profit (EBIT) 49.3 40.4 22% 145.0 118.0 23% 179.5 152.5 Opera ng profit margin 8.6% 7.5% 8.4% 7.3% 7.9% 7.0% Net profit 24.8 19.2 29% 71.8 59.1 21% 90.9 78.2 Net profit margin 4.3% 3.6% 4.2% 3.7% 4.0% 3.6% Basic earnings per share, € 0.162 0.127 28% 0.471 0.391 20% 0.600 0.519 Diluted earnings per share, € 0.162 0.127 28% 0.470 0.390 21% 0.598 0.518 EBITDA 99.3 90.9 9% 294.5 263.5 12% 379.0 348.0 EBITDA margin 17.4% 16.9% 17.1% 16.3% 16.6% 16.0% Adjusted EBITDA 101.3 94.7 7% 302.3 276.0 10% 391.1 364.8 Adjusted EBITDA margin 17.8% 17.6% 17.6% 17.1% 17.2% 16.8% EBITDAaL 70.9 63.2 12% 210.2 184.1 14% 267.0 240.9 EBITDAaL margin 12.4% 11.7% 12.2% 11.4% 11.7% 11.1% Adjusted EBITDAaL 72.9 67.0 9% 218.0 196.6 11% 279.1 257.7 Adjusted EBITDAaL margin 12.8% 12.4% 12.7% 12.1% 12.2% 11.8% EBITA 52.1 44.8 16% 153.5 129.6 18% 191.3 167.4 EBITA margin 9.1% 8.3% 8.9% 8.0% 8.4% 7.7% Group total² Net profit 25.2 18.6 36% 69.6 55.4 26% 86.9 72.7 Basic earnings per share, € 0.169 0.129 31% 0.476 0.390 22% 0.601 0.514 Diluted earnings per share, € 0.169 0.129 31% 0.475 0.389 22% 0.599 0.513 Defini on and reconcilia on of alterna ve performance measures are available at medicover.com. LTM: last twelve months (1 October 2025 - 30 September 2026). ¹Compara ve figures have been restated to reflect the classifica on of Medicover Hospitals India as a discon nued opera on. ²Includes con nuing and discon nued opera ons. Interim report July-September 2026 2
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CEO statement The third quarter has been an even ul quarter, during which we announced the divestment of our Indian hospital business, con nued to op mise our footprint, and added new fitness facili es and blood-drawing points. We con nued to deliver organic growth and margin expansion, genera ng solid cash flows from the business. Through the divestment of our India hospital business (MHI), we will become a more focused provider across three key European markets, with strengthened financial posi on and flexibility, making us well posi oned for the future. During the year, we have ac vely worked to adapt and repurpose our offering across our facili es, closing less profitable units and opening new ones where we see greater poten al. In total, we have closed 118 facili es in the last twelve months and opened over 140 facili es. This disciplined approach to por olio management supports improved efficiency and profitable growth over the long term. Revenue amounted to EUR 570.8 million (EUR 538.7 million), an increase of 6.0%, with an organic growth of 8.0%. Opera ng profit (EBIT) increased by 22.0% to EUR 49.3 million (EUR 40.4 million), corresponding to an opera ng margin of 8.6% (7.5%). It is par cularly encouraging to see the con nued margin improvement, not only compared with the prior year but also with the previous quarter, both of which were strong comparison periods. Cash flow from opera ng ac vi es amounted to EUR 93.8 million (EUR 98.8 million) for Group total. Healthcare Services Revenue from Healthcare Services amounted to EUR 374.7 million (EUR 353.6 million), an increase of 6.0%. Organic growth amounted to 8.0%, of which price adjustments contributed approximately 6.3 percentage points. EBITDA increased by 9.6% to EUR 74.0 million (EUR 67.6 million), corresponding to a margin of 19.8% (19.1%). Sports/wellness con nues to be a strong contributor to the division’s posi ve development and performance. To u lise this momentum, we have opened 16 new fitness facili es so far this year, including four during the quarter. The network expansion will con nue in the coming quarters. The hospital and ambulatory opera ons in Poland also delivered double-digit growth in fee- for-service and other services (FFS), partly offset by somewhat more challenging macroeconomic condi ons in Romania. FFS revenue increased by 8.2% and accounted for 48% of the division’s revenue. The division now has 1.5 million members, while the total number of ongoing customer rela onships increased to over 4.1 million, reflec ng strong customer engagement and building long-term loyalty. Diagnos c Services Diagnos c Services increased revenue by 6.3% to EUR 203.8 million (EUR 191.7 million). Organic growth amounted to 8.5%, of which price adjustments contributed approximately 4.3 percentage points. EBITDA amounted to EUR 37.8 million (EUR 35.8 million), an increase of 5.5%, corresponding to a margin of 18.5% (18.7%). Higher contribu on of FFS revenue together with favourable sales mix towards advanced tests was offset by so er performance in German businesses. FFS developed well, par cularly in the SEE markets, contribu ng to both growth and profitability. FFS revenue increased by 10.2% and accounted for 74% of the division’s revenue. The number of laboratory tests increased by 5.3% to 40.2 million (38.2 million) tests performed during the quarter. The share of advanced tests con nued its posi ve trend. “It is par cularly encouraging to see the con nued margin improvement, not only compared with the prior year but also with the previous quarter, both of which were strong comparison periods.” John Stubbington, CEO Interim report July-September 2026 3
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It is par cularly pleasing to see the con nued improvement in Net Promoter Score (NPS) across Diagnos c Services, reflec ng the considerable efforts and dedica on of our employees to delivering high-quality services. Group A er carefully evalua ng alterna ves, we concluded to divest our ownership in our Indian hospital business (MHI) during the quarter. The transac on will bring approximately EUR 0.74 billion in gross cash proceeds and create a more focused provider across key European markets with long growth runways. We will be even be er placed to deliver on our strategy that includes expansion of the network and product offering, improved capacity u lisa on, capturing synergies, and accelerate technology ini a ves. The transac on is expected to close during the fourth quarter. Looking ahead, we expect con nued so ness in public reimbursement and the mix of tariffs across our three key geographies, reflec ng for example recently introduced changes in German Gene cs. While this creates some near-term pressure, constrained access to publicly funded care is expected to support con nued demand for mely access through private-pay channels. As private pay is a core component of our revenue model and our fastest growing revenue stream, this development should support revenue growth and improved profitability over the medium term. For the remainder of the year, we will increase focus on our European markets and opera ons, and adapt the offering to demand and market condi ons. A big thank you to all our employees for your con nued dedica on to enabling, saving, maintaining and improving lives. John Stubbington CEO Interim report July-September 2026 4
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Group development third quarter 2026 Comments and numbers relate to con nuing opera ons, unless otherwise stated. Revenue amounted to EUR 570.8 million (EUR 538.7 million), up 6.0% with an organic growth of 8.0%. Revenue growth by payer was the strongest in fee-for-service and other services (FFS). Revenue growth varied by country with Poland delivering high single-digit growth. Acquired revenue amounted to EUR 0.6 million. Foreign exchange fluctua ons had a nega ve impact of 2.0%, rela ng to the weakness of the Polish zloty, the Romanian lei and the Ukrainian hryvna. The macroeconomic environment in CEE in Q3 was characterised by rising fuel prices, which contributed to higher headline infla on across the region. In Poland, headline infla on averaged 3.5% in Q3 and accelerated through the quarter, reaching 4.1% in September. Core infla on, which excludes food and energy prices, also increased, averaging 3.2% compared with 3.0% in the previous quarter. The unemployment was stable at 5.8% (5.8% in the previous quarter). In contrast to Poland, infla on in Romania moderated in Q3, primarily reflec ng favourable base effects related to the VAT increase and the removal of energy price caps. As a result, headline infla on averaged 7.0% during the quarter, compared with 10.7% in Q2. Labour market condi ons showed some signs of improvement, with the unemployment rate declining to 6.4% at the end of August from 6.8% in the previous quarter. At the same me, con nued poli cal uncertainty, including the absence of a stable parliamentary majority, remained a source of uncertainty for the broader macroeconomic outlook. On 6 August it was announced that Medicover will divest Medicover Hospitals India to funds managed by the global investment firm KKR. Medicover's ownership amounts to 66.1%. At comple on, Medicover will receive gross cash proceeds of approximately EUR 0.74 billion in total. The proceeds will enable accelerated strategy execu on in Poland, Germany and Romania, with a strengthened financial posi on and flexibility. The transac on is expected to close in the fourth quarter (refer to note 2). Opera ng profit (EBIT) increased to EUR 49.3 million (EUR 40.4 million), an opera ng margin of 8.6% (7.5%). EBITDA was EUR 99.3 million (EUR 90.9 million), growing by EUR 8.4 million, an EBITDA margin of 17.4% (16.9%). Adjusted EBITDA amounted to EUR 101.3 million (EUR 94.7 million) a margin of 17.8% (17.6%). EBITDAaL was EUR 70.9 million (EUR 63.2 million), a margin of 12.4% (11.7%). Adjusted EBITDAaL was EUR 72.9 million (EUR 67.0 million), a margin of 12.8% (12.4%). Net profit amounted to EUR 24.8 million (EUR 19.2 million), which represented a margin of 4.3% (3.6%). Total financial result amounted to EUR -16.4 million (EUR -13.0 million) of which EUR -13.5 million (EUR -12.9 million) was related to interest expense and commitment fees on the Group’s debt and other discounted liabili es. Within the interest expense EUR -5.3 million (EUR -5.3 million) was related to lease liabili es. Foreign exchange losses were EUR -4.0 million (EUR -1.2 million) of which EUR -3.1 million (EUR -1.1 million) was related to euro-denominated lease liabili es mainly in Poland. Basic/diluted earnings per share amounted to EUR 0.162 (EUR 0.127). Revenue (EURm) 368.6 440.5 527.8 538.7 570.8 Group total Con nuing opera ons Q3 22 Q3 23 Q3 24 Q3 25 Q3 260 100 200 300 400 500 600 700 Revenue by country Poland 59% Germany 16% Romania 15% Other 10% EBITDA (EURm) 48.8 64.8 73.9 90.9 99.3 Group total Con nuing opera ons Q3 22 Q3 23 Q3 24 Q3 25 Q3 260 20 40 60 80 100 120 Interim report July-September 2026 5
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Items affec ng comparability Acquisi on related expenses were EUR -0.1 million (EUR -0.1 million). Equity se led share-based payments charges rela ng to long-term performance-based share programmes were EUR -1.9 million (EUR -3.7 million). Financial targets for 2026-2028 Medicover’s financial targets that were set in February 2026 remain unchanged un l the comple on of the divestment of Medicover Hospitals India and reflect Group total. These goals underscore Medicover's commitment to sustainable growth, opera onal excellence, and long-term value crea on for all stakeholders. Medicover is only nine months into its current financial target period and is progressing in line with plan. Organic revenue Target 2028 >3.25 €bn Adjusted organic EBITDA Target 2028 >600 €m Leverage ra o* Target 2028 ≤3.0 x *Loans payable net of cash and liquid short-term investments/adjusted EBITDAaL Interim report July-September 2026 6
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Key financial data, Group EUR million Q3 2026 Q3 2025¹ ∆ 9M 2026 9M 2025¹ ∆ LTM FY 2025¹ Con nuing opera ons Revenue 570.8 538.7 6% 1,721.6 1,618.0 6% 2,281.0 2,177.4 Opera ng profit (EBIT) 49.3 40.4 22% 145.0 118.0 23% 179.5 152.5 Opera ng profit margin 8.6% 7.5% 8.4% 7.3% 7.9% 7.0% Net profit 24.8 19.2 29% 71.8 59.1 21% 90.9 78.2 Net profit margin 4.3% 3.6% 4.2% 3.7% 4.0% 3.6% Basic earnings per share, € 0.162 0.127 28% 0.471 0.391 20% 0.600 0.519 Diluted earnings per share, € 0.162 0.127 28% 0.470 0.390 21% 0.598 0.518 EBITDA 99.3 90.9 9% 294.5 263.5 12% 379.0 348.0 EBITDA margin 17.4% 16.9% 17.1% 16.3% 16.6% 16.0% Adjusted EBITDA 101.3 94.7 7% 302.3 276.0 10% 391.1 364.8 Adjusted EBITDA margin 17.8% 17.6% 17.6% 17.1% 17.2% 16.8% EBITDAaL 70.9 63.2 12% 210.2 184.1 14% 267.0 240.9 EBITDAaL margin 12.4% 11.7% 12.2% 11.4% 11.7% 11.1% Adjusted EBITDAaL 72.9 67.0 9% 218.0 196.6 11% 279.1 257.7 Adjusted EBITDAaL margin 12.8% 12.4% 12.7% 12.1% 12.2% 11.8% EBITA 52.1 44.8 16% 153.5 129.6 18% 191.3 167.4 EBITA margin 9.1% 8.3% 8.9% 8.0% 8.4% 7.7% Adjusted EBITA 54.1 48.6 11% 161.3 142.1 14% 203.4 184.2 Adjusted EBITA margin 9.5% 9.0% 9.4% 8.8% 8.9% 8.5% EBITAaL 46.8 39.5 18% 137.7 114.6 20% 170.3 147.2 EBITAaL margin 8.2% 7.3% 8.0% 7.1% 7.5% 6.8% Adjusted EBITAaL 48.8 43.3 13% 145.5 127.1 14% 182.4 164.0 Adjusted EBITAaL margin 8.6% 8.0% 8.5% 7.9% 8.0% 7.5% Group total² Net profit 25.2 18.6 36% 69.6 55.4 26% 86.9 72.7 Basic earnings per share, € 0.169 0.129 31% 0.476 0.390 22% 0.601 0.514 Diluted earnings per share, € 0.169 0.129 31% 0.475 0.389 22% 0.599 0.513 ¹Compara ve figures have been restated to reflect the classifica on of Medicover Hospitals India as a discon nued opera on. ²Includes con nuing and discon nued opera ons. Interim report July-September 2026 7
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Cash flow Comments and numbers relate to Group total, unless otherwise stated. Cash generated from opera ons before working capital changes increased by 8.0%, amoun ng to EUR 101.5 million (EUR 94.0 million) and 93.9% of EBITDA (95.6%). Tax paid was EUR 9.5 million (EUR 8.0 million). Net working capital increased by EUR 7.7 million (decreased by EUR 4.8 million). Net cash from opera ng ac vi es was EUR 93.8 million (EUR 98.8 million), including discon nued opera ons of EUR 0.4 million (EUR 5.5 million). Investments in property, plant and equipment and intangible assets amounted to EUR 32.5 million (EUR 46.3 million) with approximately 52% being growth capital investment and 48% maintenance investment, lower pace being 5.1% (7.8%) of revenue. EUR 23.5 million (EUR 37.4 million) was invested in Healthcare Services and EUR 9.0 million (EUR 8.9 million) in Diagnos c Services. Net loans repaid amounted to EUR 28.2 million (EUR 9.6 million). Lease liabili es repaid were EUR 23.0 million (EUR 22.2 million). Interest paid amounted to EUR 13.2 million (EUR 13.3 million), of which EUR 8.8 million (EUR 8.1 million) related to lease liabili es. Cash and cash equivalents decreased by EUR 5.9 million to EUR 83.3 million. The free recurring cash flow from con nuing opera ons decreased by 10.0% to EUR 50.3 million (EUR 56.0 million), being 8.8% of revenue (10.4%). A summary of the discon nued opera ons cash flow impact is presented below the consolidated cash flow statement. Financial posi on Consolidated equity as at 30 September 2026 amounted to EUR 558.1 million (EUR 544.9 million). A dividend of EUR 30.2 million (EUR 22.5 million) was distributed to shareholders, equivalent to EUR 0.20 (EUR 0.15) per share. Other comprehensive income includes a nega ve transla on exchange rate movement of EUR 31.9 million due to weaker currencies across key markets. As of 30 September 2026, assets held for sale and associated liabili es rela ng to the Medicover Hospitals India ("MHI") amounted to EUR 387.6 million and EUR 214.3 million, respec vely, refer to note 1 and 2. The put op on liquidity obliga on with non-controlling interest in MHI amounted to EUR 34.4 million (EUR 34.6 million) of which EUR 20.4 million (EUR 20.7 million) is presented as non-current other financial liabili es and EUR 14.0 million (EUR 13.9 million) as current. The put op on liquidity obliga on will be derecognised upon comple on of the sale transac on. Loans payable amounted to EUR 838.3 million (EUR 880.4 million), mainly due to the reclassifica on of liabili es associated with assets held for sale. During the second quarter, EUR 225.0 million was reclassified from non-current to current loans payable reflec ng loans maturing within 12 months. The Group con nues to maintain strong access to the capital market and is ac vely evalua ng its financing and capital alloca on op ons. In May liquidity was furthermore strengthened by a new Revolving Credit Facility (RCF) of EUR 450.0 million maturing in 2029 (previously EUR 300.0 million). At the end of the quarter, the Group had undrawn commi ed credit facili es of EUR 480.5 million, liquid short-term investments and cash and cash equivalents of EUR 82.6 million, totalling to EUR 563.1 million (EUR 402.9 million). Loans payable net of cash and liquid short-term investments amounted to EUR 755.7 million (EUR 797.7 million), a decrease of EUR 42.0 million largely driven by the reclassifica on of liabili es associated with assets held for sale. The ra o of loans payable net of cash and liquid short-term investments to adjusted EBITDAaL for the prior twelve months was 2.7x (3.1x level at year-end 2025 for Group total). Lease liabili es amounted to EUR 424.5 million (EUR 559.4 million), primarily reflec ng the reclassifica on of liabili es associated with assets held for sale. The total financial debt was EUR 1,262.8 million (EUR 1,439.8 million), in addi on the total financial debt associated with assets classified as held for sale was EUR 172.8 million (-). Interim report July-September 2026 8
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Financial highlights nine months 2026 Comments and numbers relate to con nuing opera ons, unless otherwise stated. Revenue amounted to EUR 1,721.6 million (EUR 1,618.0 million), up 6.4% with an organic growth of 8.5%. Acquired revenue amounted to EUR 21.1 million, related mostly to the acquisi ons of last year. Foreign exchange fluctua ons had a nega ve impact of 1.6% reflec ng currency weakness across all key markets. Opera ng profit (EBIT) was EUR 145.0 million (EUR 118.0 million) with an opera ng margin of 8.4% (7.3%). EBITDA was EUR 294.5 million (EUR 263.5 million), an EBITDA margin of 17.1% (16.3%). Adjusted EBITDA was EUR 302.3 million (EUR 276.0 million), a margin of 17.6% (17.1%). EBITDAaL was EUR 210.2 million (EUR 184.1 million), a margin of 12.2% (11.4%). Adjusted EBITDAaL amounted to EUR 218.0 million (EUR 196.6 million), a margin of 12.7% (12.1%). Net profit amounted to EUR 71.8 million (EUR 59.1 million), a margin of 4.2% (3.7%). Total financial result amounted to EUR -45.0 million (EUR -34.8 million) of which EUR -38.8 million (EUR -37.7 million) was related to interest expense. Within the interest expense EUR -15.8 million (EUR -15.0 million) was related to lease liabili es. Foreign exchange losses were EUR -9.2 million (EUR 0.0 million) of which EUR -7.2 million (EUR -1.0 million) was related to euro-denominated lease liabili es mainly in Poland and Romania. The Group has recognised an income tax charge of EUR -28.0 million (EUR -25.4 million) which corresponds to an effec ve tax rate of 28.0% (30.1%). Basic/diluted earnings per share amounted to EUR 0.471 (EUR 0.391)/EUR 0.470 (EUR 0.390). Items affec ng comparability Acquisi on related expenses were EUR -0.5 million (EUR -1.6 million). Equity se led share-based payments charges rela ng to long-term performance-based share programmes were EUR -7.3 million (EUR -10.9 million). Cash flow Comments and numbers relate to Group total, unless otherwise stated. Cash flow from opera ng ac vi es before working capital changes increased by 13.3% to EUR 297.3 million (EUR 262.6 million), being 93.9% of EBITDA (93.4%). Tax paid was EUR 27.2 million (EUR 32.6 million). Net working capital increased by EUR 57.2 million (EUR 19.0 million). Net cash from opera ng ac vi es was EUR 240.1 million (EUR 243.6 million), including discon nued opera ons of EUR -0.1 million (EUR 7.1 million). Investments in property, plant and equipment and intangible assets amounted to EUR 88.2 million (EUR 101.2 million) with approximately 55% being growth capital investment, 45% being maintenance investment and lower pace being 4.6% (5.7%) of revenue. EUR 61.9 million (EUR 80.2 million) was invested in Healthcare Services and EUR 26.3 million (EUR 21.0 million) in Diagnos c Services. Payment for acquisi on of subsidiaries (net of cash acquired) amounted to EUR 1.6 million (EUR 173.8 million). Net loans drawn amounted to EUR 1.7 million (EUR 176.4 million). Lease liabili es repaid were EUR 67.4 million (EUR 64.5 million). Interest paid amounted to EUR 46.8 million (EUR 42.1 million), of which EUR 26.2 million (EUR 23.6 million) related to lease liabili es. A dividend of EUR 30.2 million (EUR 22.5 million) was distributed to shareholders. Cash and cash equivalents increased by EUR 2.7 million to EUR 83.3 million. Free recurring cash flow from con nuing opera ons decreased by 7.9% to EUR 119.7 million (EUR 129.9 million), being 7.0% of revenue (8.0%). Parent company There was no significant revenue. The loss for the nine months amounted to EUR -5.4 million (EUR -1.5 million). At 30 September 2026 EUR 173.9 million (EUR 188.0 million) has been u lised under the social commercial paper programme. The proceeds of the programme have been lent to the Company’s subsidiary on the same maturity as the programme drawings. Equity as at 30 September 2026 was EUR 626.6 million (EUR 655.0 million). Interim report July-September 2026 9
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Risks The Group’s business is exposed to risks that could impact its opera ons, performance or financial posi on. Management of these risks enables Medicover to execute its strategy, maintain its ethical reputa on, reach financial targets and secure con nuous development and profitability in the long term. Group en es monitor and manage risks in its opera ons. In addi on, the Group has a centralised enterprise risk management process, which is a systema c and structured framework used to iden fy, assess, measure, manage/mi gate, monitor and report risks. Iden fied risks are categorised as follows: Opera onal risks – such as ar ficial intelligence, armed conflict and geopoli cal risk, clinical quality, data loss or breach, environmental and climate-related risks, insurance risk (insurance business), IT systems failure and cybersecurity, market risk, medical workforce shortage and natural disaster. Strategy and M&A risks – such as M&A due diligence and post-acquisi on integra on. Financial risks – such as credit risk, foreign currency risk, interest rate risk and liquidity and refinancing risk. Legal, compliance and poli cal risks – such as an -bribery and corrup on. Further informa on on risks and risk management is available in the annual report 2025, sec on ‘Risks and risk management’ (pages 61-69). Interim report July-September 2026 10
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Events in the quarter Medicover signed an agreement to sell Medicover Hospitals India to funds managed by the global investment firm KKR. Medicover launched ScreeningBUS in Poland, a mobile healthcare unit that brings preven ve screenings, medical consulta ons and health ini a ves directly to the clients' workplaces, making it easier for their employees to access care without leaving their work environment. Comments and numbers relate to con nuing opera ons, unless otherwise stated. Revenue reached EUR 374.7 million (EUR 353.6 million), an increase of 6.0%. Organic growth was 8.0%, with price represen ng approximately 6.3pp of this growth. Acquired revenue amounted to EUR 0.5 million. Foreign exchange fluctua ons had a nega ve impact of 1.9%, rela ng to the weakness of the Polish zloty and the Romanian lei. Members amounted to 1,487 K (1,549 K), the decrease in membership was driven by the Romanian market. Funded revenue increased by 4.7% mainly driven by con nued growth in Poland. FFS and other services have performed well, mainly a ributable to sports/wellness in Poland. In Romania so er FFS-revenue was compensated by solid public pay growth. Medicover Hospitals India (MHI), which is reported as discon nued opera ons con nued its posi ve development and delivered 27.1% revenue growth. Closing is expected in Q4 2026. Healthcare Services Healthcare Services – provides a broad range of high-quality healthcare services, including outpa ent and inpa ent healthcare, den stry, fer lity treatments and wellbeing solu ons such as sports. Services can be financed by employer-paid subscrip ons, by pa ents themselves on a fee-for-service (FFS) basis, or through public or private health insurance. Revenue (EURm) 230.5 304.7 370.9 353.6 374.7 Healthcare Services total Con nuing opera ons Q3 22 Q3 23 Q3 24 Q3 25 Q3 260 100 200 300 400 Revenue by country Poland 83% Romania 12% Other 5% EBITDA (EURm) 32.3 46.6 57.5 67.6 74.0 Healthcare Services total Con nuing opera ons Q3 22 Q3 23 Q3 24 Q3 25 Q3 260 20 40 60 80 Interim report July-September 2026 11
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Opera ng profit (EBIT) increased to EUR 40.6 million (EUR 33.1 million), mainly driven by the strong contribu on from sports/wellness and Polish ambulatory clinics, while the EBIT margin improved to 10.8% (9.4%). EBITDA grew by 9.6% to EUR 74.0 million (EUR 67.6 million), an EBITDA margin of 19.8% (19.1%). Double-digit EBITDA growth in sports/wellness, together with a solid contribu on from Polish ambulatory clinics, was partly offset by so er performance mainly in Polish and Romanian hospitals as well as dental clinics in Germany. The medical cost to revenue ra o was 78.3% (78.8%), the decrease relates to scaling of the sports/wellness business in Poland. EBITDAaL was EUR 54.3 million (EUR 48.3 million), an increase of EUR 6.0 million with a margin of 14.5% (13.6%). Established inpa ent facili es in Poland reported lower EBITDAaL margins, par ally due to so er margins in public revenue and ongoing infla on-driven increases in medical salary expenses. The Romanian business EBITDAaL margin was so er mainly due to hospital performance. Sports/wellness performs well and with good demand for benefits packages. These are sold alongside Medicover healthcare benefits to the same employer base. Growth investments con nued during the quarter, with four new facili es added to the network and 16 openings completed year-to-date. The sports/wellness footprint is expected to expand further in the coming quarters. Financial highlights nine months 2026 Comments and numbers relate to con nuing opera ons, unless otherwise stated. Revenue reached EUR 1,135.4 million (EUR 1,075.0 million), up 5.6% with an organic growth of 8.4%. Revenue growth was nega vely impacted by the exit from the Hungarian market in 2025. Acquired revenue amounted to EUR 10.0 million, related mostly to the acquisi ons of last year. Foreign exchange fluctua ons had a nega ve impact of 1.1% reflec ng currency weakness across all key markets. Opera ng profit (EBIT) amounted to EUR 115.8 million (EUR 98.2 million), a margin of 10.2% (9.1%). EBITDA amounted to EUR 216.7 million (EUR 197.5 million), an EBITDA margin of 19.1% (18.4%). EBITDAaL was EUR 157.9 million (EUR 141.8 million), a margin of 13.9% (13.2%). Interim report July-September 2026 12
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Healthcare Services revenue from external customers, recognised over me as services are rendered, by payer and by country is disclosed in the following table. Funded revenue consists of revenue from insurance contracts. EUR million Q3 2026 Q3 2025¹ ∆ 9M 2026 9M 2025¹ ∆ LTM FY 2025¹ Con nuing opera ons Revenue 374.7 353.6 1,135.4 1,075.0 1,509.9 1,449.5 Inter-segment revenue -0.6 -0.5 -1.9 -1.5 -2.5 -2.1 Revenue from external customers 374.1 353.1 6.0% 1,133.5 1,073.5 5.6% 1,507.4 1,447.4 By payer: Public 66.9 65.1 2.8% 199.8 193.8 3.1% 265.8 259.8 Private 307.2 288.0 6.7% 933.7 879.7 6.1% 1,241.6 1,187.6 - Funded 126.3 120.6 4.7% 379.6 380.0 -0.1% 503.0 503.4 - Fee-For-Service (FFS) 95.6 95.6 0.0% 296.8 294.3 0.8% 394.3 391.8 - Other services 85.3 71.8 18.9% 257.3 205.4 25.3% 344.3 292.4 By country: Poland 310.3 286.8 8.2% 934.1 847.0 10.3% 1,240.1 1,153.0 Romania 46.1 46.7 -1.4% 144.1 138.6 3.9% 191.5 186.0 Germany 11.5 13.8 -17.4% 35.5 43.2 -17.9% 49.4 57.1 Other countries 6.2 5.8 8.1% 19.8 44.7 -55.7% 26.4 51.3 ¹Compara ve figures have been restated to reflect the classifica on of Medicover Hospitals India as a discon nued opera on. Key metrics Healthcare Services EUR million Q3 2026 Q3 2025¹ ∆ 9M 2026 9M 2025¹ ∆ LTM FY 2025¹ Con nuing opera ons Revenue 374.7 353.6 6% 1,135.4 1,075.0 6% 1,509.9 1,449.5 Opera ng profit (EBIT) 40.6 33.1 22% 115.8 98.2 18% 148.6 131.0 Opera ng profit margin 10.8% 9.4% 10.2% 9.1% 9.8% 9.0% EBITDA 74.0 67.6 10% 216.7 197.5 10% 283.5 264.3 EBITDA margin 19.8% 19.1% 19.1% 18.4% 18.8% 18.2% EBITDAaL 54.3 48.3 13% 157.9 141.8 11% 205.3 189.2 EBITDAaL margin 14.5% 13.6% 13.9% 13.2% 13.6% 13.1% EBITA 42.3 36.3 17% 121.1 106.3 14% 156.1 141.3 EBITA margin 11.3% 10.3% 10.7% 9.9% 10.3% 9.7% Members (period end) (000's) 1,487 1,549 -4% 1,487 1,549 -4% 1,487 1,546 Number of medical clinics 170 185 -8% 170 185 -8% - 187 Number of hospitals 18 18 0% 18 18 0% - 18 Number of beds (commissioned) 1,415 1,500 -6% 1,415 1,500 -6% - 1,414 Number of fer lity clinics 18 18 0% 18 18 0% - 18 Number of dental clinics 106 112 -5% 106 112 -5% - 110 Number of dental chairs 702 729 -4% 702 729 -4% - 720 Number of gyms 189 174 9% 189 174 9% - 176 Number of other facili es 84 84 0% 84 84 0% - 84 Group total² Number of hospitals 42 41 2% 42 41 2% - 41 Number of beds (commissioned) 6,221 6,203 0% 6,221 6,203 0% - 6,142 Number of other facili es 108 107 1% 108 107 1% - 107 ¹Compara ve figures have been restated to reflect the classifica on of Medicover Hospitals India as a discon nued opera on. ²Includes con nuing and discon nued opera ons. Interim report July-September 2026 13
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Events in the quarter Synevo Romania strengthened its medical offering by launching new solu ons in longevity, oncology, neurology, infer lity, and microbiology. These included biological age tes ng, liquid biopsy solu ons for oncology, phospho-tau p217 tes ng for Alzheimer's disease evalua on and expanded gene c panels for reproduc ve health. Synevo Ukraine expanded its gene c tes ng por olio with 40 new tests, significantly enhancing its gene c diagnos cs capabili es. The expansion includes advanced gene c studies and hereditary cancer risk assessments, providing pa ents and physicians with more comprehensive diagnos c op ons. Revenue was EUR 203.8 million (EUR 191.7 million), an increase of 6.3%. Organic growth amounted to 8.5%, with price represen ng approximately 4.3pp of this growth. No acquired revenue was recognised in the quarter. Foreign exchange fluctua ons had a nega ve impact of 2.2% rela ng to weakness mainly of the Ukrainian hryvna and the Romanian lei. Revenue growth was primarily driven by solid FFS performance. FFS revenue grew across all key markets, with par cularly robust expansion in the SEE countries. The laboratory test volume increased to 40.2 million (38.2 million), an increase of 5.3%. 1.4 million (0.9 million) basic low-priced tests were performed in Ukraine for the public health fund. Opera ng profit (EBIT) increased to EUR 22.3 million (EUR 20.6 million), a margin of 10.9% (10.7%) driven by strong performance across Poland, Romania and other SEE countries, supported by synergies from the 2025 acquisi on. Germany reported a so er result in the quarter, impacted by con nuing digitalisa on investments and lower clinic produc vity during the vaca on period. EBITDA was EUR 37.8 million (EUR 35.8 million), an EBITDA margin of 18.5% (18.7%). The higher contribu on of FFS revenue, together with a favourable sales mix towards advanced tests, was offset by weaker performance in the German business. Diagnos c Services Diagnos c Services – provides comprehensive clinical laboratory services across all major areas of clinical pathology, from rou ne screenings to advanced tes ng, suppor ng everything from disease preven on to treatment monitoring. Opera ons are carried out through a network of laboratories, blood-drawing points and clinics across 15 countries, with key markets in Germany, Romania and Poland. Revenue (EURm) 142.7 140.9 162.8 191.7 203.8 Q3 22 Q3 23 Q3 24 Q3 25 Q3 260 75 150 225 Revenue by country Germany 41% Romania 19% Poland 14% Ukraine 12% Other 14% EBITDA (EURm) 22.6 20.9 26.9 35.8 37.8 Q3 22 Q3 23 Q3 24 Q3 25 Q3 260 15 30 45 Interim report July-September 2026 14
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EBITDAaL was EUR 29.2 million (EUR 27.5 million), a margin of 14.3% (14.3%). The segment delivered a sound performance during the quarter. In Romania, the successful integra on of former SYNLAB customers con nued to support profitability. In Poland, the ongoing expansion of the blood-drawing point network remained a key driver of demand. Strong revenue growth in the SEE markets supported margin expansion, further underpinned by the realisa on of synergies from the integra on of the SYNLAB businesses acquired last year. These posi ve developments were offset by so er performance in Germany as well as the Gene cs business. The reimbursement reform affec ng the German gene cs business that came into force in October 2026 is expected to result in a lower margin contribu on from this business going forward. Mi ga ng ac ons have been ini ated and will con nue to be implemented to minimise the effect over me. Financial highlights nine months 2026 Revenue amounted to EUR 609.2 million (EUR 562.9 million), up 8.2% with an organic growth of 8.9%. Acquired revenue amounted to EUR 10.9 million, related to the acquisi on of last year. Foreign exchange fluctua ons had a nega ve impact of 2.6% reflec ng currency weakness mainly of the Romanian lei and the Ukrainian hryvna. The laboratory test volume was 120.3 million (113.3 million), an increase of 6.2%. Opera ng profit (EBIT) amounted to EUR 72.4 million (EUR 61.4 million), a margin of 11.9% (10.9%). EBITDA was EUR 118.1 million (EUR 105.2 million). The improvement was mainly driven by Germany, Romania as well as other SEE markets. EBITDA margin increased to 19.4% (18.7%). EBITDAaL was EUR 92.8 million (EUR 81.8 million), a margin of 15.2% (14.5%). Interim report July-September 2026 15
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Diagnos c Services revenue from external customers, recognised over me as services are rendered, by payer and by country is disclosed in the following table. EUR million Q3 2026 Q3 2025 ∆ 9M 2026 9M 2025 ∆ LTM FY 2025 Revenue 203.8 191.7 609.2 562.9 801.2 754.9 Inter-segment revenue -6.8 -6.1 -21.3 -18.6 -27.9 -25.2 Revenue from external customers 197.0 185.6 6.1% 587.9 544.3 8.0% 773.3 729.7 By payer: Public 54.1 55.8 -3.2% 165.6 168.1 -1.5% 219.9 222.4 Private 142.9 129.8 10.1% 422.3 376.2 12.3% 553.4 507.3 - Fee-For-Service (FFS) 139.4 127.0 9.8% 412.3 367.5 12.2% 539.7 494.9 - Other services 3.5 2.8 23.3% 10.0 8.7 14.8% 13.7 12.4 By country: Germany 82.7 81.0 2.1% 252.9 244.1 3.6% 333.7 324.9 Romania 36.8 34.9 5.4% 108.7 100.2 8.5% 142.1 133.6 Poland 23.8 21.9 8.6% 69.2 65.6 5.5% 90.8 87.2 Ukraine 25.2 21.6 16.4% 71.8 63.3 13.3% 93.8 85.3 Other countries 28.5 26.2 9.0% 85.3 71.1 20.1% 112.9 98.7 Key metrics Diagnos c Services EUR million Q3 2026 Q3 2025 ∆ 9M 2026 9M 2025 ∆ LTM FY 2025 Revenue 203.8 191.7 6% 609.2 562.9 8% 801.2 754.9 Opera ng profit (EBIT) 22.3 20.6 8% 72.4 61.4 18% 90.5 79.5 Opera ng profit margin 10.9% 10.7% 11.9% 10.9% 11.3% 10.5% EBITDA 37.8 35.8 6% 118.1 105.2 12% 151.4 138.5 EBITDA margin 18.5% 18.7% 19.4% 18.7% 18.9% 18.3% EBITDAaL 29.2 27.5 6% 92.8 81.8 14% 117.8 106.8 EBITDAaL margin 14.3% 14.3% 15.2% 14.5% 14.7% 14.1% EBITA 23.4 21.8 7% 75.7 64.8 17% 95.0 84.1 EBITA margin 11.5% 11.4% 12.4% 11.5% 11.9% 11.1% Number of lab tests (period volume) (m) 40.2 38.2 5% 120.3 113.3 6% 159.4 152.4 Number of labs 132 139 -5% 132 139 -5% - 135 Number of BDPs 1,101 1,053 5% 1,101 1,053 5% - 1,046 Number of clinics 34 35 -3% 34 35 -3% - 36 Interim report July-September 2026 16
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The board of directors and CEO declare that the interim report for January-September 2026 gives a fair overview of the parent company's and Group's opera ons, financial posi on and results of opera ons and describes significant risks and uncertain es facing the parent company and companies included in the Group. Stockholm on 4 November 2026 Fredrik Stenmo Chairman of the board Peder af Jochnick Board member Anne Berner Board member Arno Bohn Board member Sonali Chandmal Board member Michael Flemming Board member Claudia Olsson Board member Fredrik Rågmark Board member Azita Sharia Board member John Stubbington CEO Interim report July-September 2026 17
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This is informa on that Medicover AB is obliged to make public pursuant to the EU Market Abuse Regula on. The informa on was submi ed for publica on through the agency of the contact person set out below at 7.45 CET on 4 November 2026. This interim report and other informa on about Medicover are available at medicover.com. This report may contain certain forward-looking statements and opinions. Forward-looking statements are statements that do not relate to historical facts and events and such statements and opinions pertaining to the future. Forward-looking statements are based on current es mates and assump ons made according to the best of Medicover’s knowledge. Such forward-looking statements are subject to risks, uncertain es, and other factors that could cause the actual results, including Medicover’s cash flow, financial posi on and results of opera ons, to differ materially from the results, or fail to meet expecta ons expressly or implicitly assumed or described in those statements or to turn out to be less favourable than the results expressly or implicitly assumed or described in those statements. In light of the risks, uncertain es and assump ons associated with forward-looking statements, it is possible that the future events men oned in this presenta on may not occur. Actual results, performance or events may differ materially from those in such statements due to, without limita on, changes in general economic condi ons, in par cular economic condi ons in the markets on which Medicover operates, changes affec ng interest rate levels, changes affec ng currency exchange rates, changes in compe on levels, changes in laws and regula ons, and occurrence of accidents or environmental damages. The informa on, opinions and forward-looking statements contained in this announcement speak only as at its date and are subject to change without no ce. Financial calendar Interim report Year-end 2026 10 February 2027, 7.45 CET Annual report Week 14 2027 Interim report January-March 2027 28 April 2027, 7.45 CEST Annual general mee ng 28 April 2027 Interim report April-June 2027 22 July 2027, 7.45 CEST Interim report July-September 2027 29 October 2027, 7.45 CET For further informa on, please contact: Hanna Bjellquist, Head of Investor Rela ons Phone: +46 70 303 32 72 E-mail: hanna.bjellquist@medicover.com Conference call A conference call for analysts and investors will be held today at 9.30 CET. If you wish to par cipate via webcast please register here. Via the webcast you can ask wri en ques ons. If you wish to par cipate via teleconference, please register here. A er registra on you will be provided phone numbers and a conference ID to access the conference. You can ask ques ons verbally via the teleconference. Address Medicover AB (publ) (Org nr: 559073-9487) P.O. Box 5283, SE-102 46 Stockholm Visi ng address: Riddargatan 12A, SE-114 35 Stockholm, Sweden Phone: +46 8 400 17 600 Interim report July-September 2026 18
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Auditor's review report Medicover AB (publ), reg. no 559073–9487 Introduc on We have reviewed the condensed interim financial informa on (interim report) for Medicover AB (publ) as of 30 September 2026 and for the nine-month period then ended. The board of directors and the chief execu ve officer are responsible for the prepara on and presenta on of this interim report in accordance with IAS 34 and the Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on our review. Scope of review We conducted our review in accordance with Interna onal Standard on Review Engagements, ISRE 2410, Review of Interim Financial Informa on Performed by the Independent Auditor of the En ty. A review of interim financial informa on consists of making inquiries, primarily of persons responsible for financial and accoun ng ma ers, and applying analy cal and other review procedures. A review has a different focus and is substan ally less in scope than an audit conducted in accordance with ISA and other generally accepted audi ng prac ces. The procedures performed in a review do not enable us to obtain a level of assurance that would make us aware of all significant ma ers that might be iden fied in an audit. Therefore, the conclusion expressed based on a review does not give the same level of assurance as a conclusion based on an audit. Conclusion Based on our review, nothing has come to our a en on that causes us to believe that the interim report is not, in all material respects, prepared for the Group in accordance with IAS 34, and the Annual Accounts Act, and for the Parent Company in accordance with the Annual Accounts Act. Stockholm on 4 November 2026 BDO Sweden AB Karin Siwertz Authorised Public Accountant Interim report July-September 2026 19
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Condensed financial statements Consolidated income statement EUR million Q3 2026 Q3 2025¹ 9M 2026 9M 2025¹ LTM FY 2025¹ Con nuing opera ons Revenue 570.8 538.7 1,721.6 1,618.0 2,281.0 2,177.4 Opera ng expenses Medical provision costs -429.6 -408.5 -1,296.8 -1,225.4 -1,726.2 -1,654.8 Gross profit 141.2 130.2 424.8 392.6 554.8 522.6 Distribu on, selling and marke ng costs -24.4 -23.9 -77.8 -74.4 -102.0 -98.6 Administra ve costs -67.5 -65.9 -202.0 -200.2 -273.3 -271.5 Opera ng profit (EBIT) 49.3 40.4 145.0 118.0 179.5 152.5 Other income/(costs) -0.2 -0.7 -0.2 1.1 0.3 1.6 Interest income 1.1 1.1 3.0 2.9 3.9 3.8 Interest expense -13.5 -12.9 -38.8 -37.7 -51.1 -50.0 Other financial income/(expense) -4.0 -1.2 -9.2 0.0 -8.5 0.7 Total financial result -16.4 -13.0 -45.0 -34.8 -55.7 -45.5 Share of profit/(loss) of associates 0.0 0.0 0.0 0.2 -0.1 0.1 Profit before income tax 32.7 26.7 99.8 84.5 124.0 108.7 Income tax -7.9 -7.5 -28.0 -25.4 -33.1 -30.5 Profit from con nuing opera ons 24.8 19.2 71.8 59.1 90.9 78.2 Discon nued opera ons Profit/(loss) from discon nued opera ons 0.4 -0.6 -2.2 -3.7 -4.0 -5.5 Profit for the period, Group total 25.2 18.6 69.6 55.4 86.9 72.7 Profit a ributable to: Owners of the parent 25.7 19.5 72.2 58.7 91.0 77.5 Non-controlling interests -0.5 -0.9 -2.6 -3.3 -4.1 -4.8 Profit for the period 25.2 18.6 69.6 55.4 86.9 72.7 Earnings per share, con nuing opera ons: Basic, € 0.162 0.127 0.471 0.391 0.600 0.519 Diluted, € 0.162 0.127 0.470 0.390 0.598 0.518 Earnings per share, Group total: Basic, € 0.169 0.129 0.476 0.390 0.601 0.514 Diluted, € 0.169 0.129 0.475 0.389 0.599 0.513 ¹Compara ve figures have been restated to reflect the classifica on of Medicover Hospitals India as a discon nued opera on. Interim report July-September 2026 20
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Consolidated statement of comprehensive income EUR million Q3 2026 Q3 2025 9M 2026 9M 2025 LTM FY 2025 Profit for the period 25.2 18.6 69.6 55.4 86.9 72.7 Other comprehensive income/(loss): Items that may be reclassified subsequently to income statement: Exchange differences on transla ng foreign opera ons -12.7 -9.7 -31.9 -33.0 -28.4 -29.5 Cash flow hedges -8.4 0.5 -7.6 0.2 -7.5 0.3 Income tax rela ng to these items 0.0 0.1 0.0 0.4 0.1 0.5 Other comprehensive income/(loss) for the period, net of tax -21.1 -9.1 -39.5 -32.4 -35.8 -28.7 Total comprehensive income/(loss) for the period 4.1 9.5 30.1 23.0 51.1 44.0 Total comprehensive income/(loss) a ributable to: Owners of the parent 4.8 11.4 33.7 31.2 56.4 53.9 Non-controlling interests -0.7 -1.9 -3.6 -8.2 -5.3 -9.9 Total comprehensive income/(loss) for the period 4.1 9.5 30.1 23.0 51.1 44.0 Interim report July-September 2026 21
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Consolidated statement of financial posi on EUR million 30 Sep 2026 30 Sep 2025 31 Dec 2025 ASSETS Non-current assets Goodwill 598.0 650.9 654.9 Other intangible assets 157.3 152.3 158.2 Property, plant and equipment 415.3 492.9 528.1 Right-of-use assets 401.9 502.8 521.1 Deferred tax assets 33.4 49.4 45.4 Investments in associates 0.8 1.0 0.8 Other receivables 1.0 1.1 1.6 Other financial assets 10.6 16.3 14.3 Total non-current assets 1,618.3 1,866.7 1,924.4 Current assets Inventories 60.2 60.0 67.2 Other financial assets 3.4 2.9 5.5 Trade and other receivables 284.4 326.6 341.1 Short-term investments 0.4 0.3 0.4 Cash and cash equivalents 82.2 82.7 82.3 Assets classified as held for sale 387.6 - - Total current assets 818.2 472.5 496.5 Total assets 2,436.5 2,339.2 2,420.9 EQUITY Equity a ributable to owners of the parent 539.6 507.7 532.8 Non-controlling interests 18.5 13.4 12.1 Total equity 558.1 521.1 544.9 LIABILITIES Non-current liabili es Loans payable 388.9 678.0 620.8 Lease liabili es 338.5 454.7 474.1 Deferred tax liabili es 34.1 38.9 31.0 Provisions 2.6 2.4 2.4 Other financial liabili es 25.1 37.7 40.0 Total non-current liabili es 789.2 1,211.7 1,168.3 Current liabili es Loans payable 449.4 208.7 259.6 Lease liabili es 86.0 85.5 85.3 Deferred revenue 15.8 11.4 14.1 Insurance contract liability 13.2 15.1 14.5 Corporate tax payable 24.4 19.3 21.9 Other financial liabili es 31.7 2.1 1.8 Trade and other payables 254.4 264.3 310.5 Liabili es associated with assets classified as held for sale 214.3 - - Total current liabili es 1,089.2 606.4 707.7 Total liabili es 1,878.4 1,818.1 1,876.0 Total equity and liabili es 2,436.5 2,339.2 2,420.9 Interim report July-September 2026 22
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Consolidated statement of changes in equity EUR million Share capital Share premium Retained earnings Non- controlling interests put op on reserve Transla on reserve Other reserves Total equity a ributable to owners of the parent Non- controlling interests Total equity Opening balance as at 1 January 2025 30.7 418.0 72.8 -65.1 -24.3 32.7 464.8 24.5 489.3 Profit for the period - - 58.7 - - - 58.7 -3.3 55.4 Other comprehensive income/(loss) - - - - -27.6 0.1 -27.5 -4.9 -32.4 Total comprehensive income/(loss) for the period - - 58.7 - -27.6 0.1 31.2 -8.2 23.0 Transac ons with owners Changes in interests in subsidiaries - - -3.8 - - - -3.8 -0.7 -4.5 Distribu on of dividend in non- controlling interests - - - - - - - -2.2 -2.2 Changes in put op on and liquidity obliga on with non-controlling interests - - - 27.0 - - 27.0 - 27.0 Dividend - - -22.5 - - - -22.5 - -22.5 Distribu on of performance shares to employees - -0.2 8.0 - - -7.8 - - - Share-based payments - - - - - 11.0 11.0 - 11.0 Total transac ons with owners - -0.2 -18.3 27.0 - 3.2 11.7 -2.9 8.8 Closing balance as at 30 September 2025 30.7 417.8 113.2 -38.1 -51.9 36.0 507.7 13.4 521.1 Opening balance as at 1 January 2026 30.7 417.8 131.7 -40.1 -48.2 40.9 532.8 12.1 544.9 Profit for the period - - 72.2 - - - 72.2 -2.6 69.6 Other comprehensive income/(loss) - - - - -30.9 -7.6 -38.5 -1.0 -39.5 Total comprehensive income/(loss) for the period - - 72.2 - -30.9 -7.6 33.7 -3.6 30.1 Transac ons with owners Business combina ons - - - - - - - 7.6 7.6 Changes in interests in subsidiaries - - -3.1 - - - -3.1 2.4 -0.7 Changes in put op on and liquidity obliga on with non-controlling interests - - - -1.0 - - -1.0 - -1.0 Dividend - - -30.2 - - - -30.2 - -30.2 Distribu on of performance shares to employees - -0.2 20.9 - - -20.7 - - - Share-based payments - - - - - 7.4 7.4 - 7.4 Total transac ons with owners - -0.2 -12.4 -1.0 - -13.3 -26.9 10.0 -16.9 Closing balance as at 30 September 2026 30.7 417.6 191.5 -41.1 -79.1 20.0 539.6 18.5 558.1 Interim report July-September 2026 23
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Consolidated cash flow statement Group total, EUR million Q3 2026 Q3 2025 9M 2026 9M 2025 LTM FY 2025 Profit before income tax 32.4 25.8 94.2 76.9 115.7 98.4 Adjustments for: Deprecia on, amor sa on and impairment 55.7 55.4 165.8 160.4 220.7 215.3 Share-based payments 2.0 3.7 7.4 11.0 11.8 15.4 Net interest expense 16.3 15.1 47.2 44.8 62.1 59.7 Unrealised foreign exchange (gain)/loss 3.3 1.0 8.9 4.1 8.1 3.3 Other non-cash transac ons 1.3 1.0 1.0 -2.0 -1.8 -4.8 Income tax paid -9.5 -8.0 -27.2 -32.6 -33.1 -38.5 Cash generated from opera ons before working capital changes 101.5 94.0 297.3 262.6 383.5 348.8 Changes in opera ng assets and liabili es: (Increase)/decrease in inventories -5.9 -2.3 -3.5 7.2 -11.7 -1.0 Increase in trade and other receivables -8.0 -10.6 -41.1 -40.5 -54.0 -53.4 Increase/(decrease) in trade and other payables 6.2 17.7 -12.6 14.3 22.4 49.3 Net cash from opera ng ac vi es 93.8 98.8 240.1 243.6 340.2 343.7 Inves ng ac vi es: Payment for acquisi on of intangible assets and property, plant and equipment -32.5 -46.3 -88.2 -101.2 -145.1 -158.1 Proceeds from disposal of intangible assets and property, plant and equipment 0.2 0.2 1.0 0.8 1.2 1.0 Payment for acquisi on of subsidiaries, net of cash acquired -0.1 -2.5 -1.6 -173.8 -2.4 -174.6 Disposal of subsidiaries, net of cash -0.1 0.0 -0.8 1.9 0.3 3.0 Dividends received from associates 0.0 0.0 0.0 0.3 0.0 0.3 Repayment of loans granted - 0.0 0.1 0.0 0.1 0.0 Payment for financial assets -3.5 -0.1 -3.5 -13.5 -6.0 -16.0 Proceeds from financial assets 2.5 1.9 2.5 16.1 5.0 18.6 Interest received 1.2 1.0 3.2 2.8 4.1 3.7 Net cash used in inves ng ac vi es -32.3 -45.8 -87.3 -266.6 -142.8 -322.1 Financing ac vi es: Acquisi on of non-controlling interests -2.7 -1.6 -6.5 -8.4 -6.4 -8.3 Repayment of loans -145.6 -197.3 -556.7 -544.3 -787.0 -774.6 Proceeds from loans received 117.4 187.7 558.4 720.7 782.9 945.2 Repayment of leases -23.0 -22.2 -67.4 -64.5 -87.4 -84.5 Interest paid -13.2 -13.3 -46.8 -42.1 -65.4 -60.7 Dividend paid - - -30.2 -22.5 -30.2 -22.5 Distribu on to non-controlling interests -0.3 - -0.9 - -1.3 -0.4 Net cash from/(used in) financing ac vi es -67.4 -46.7 -150.1 38.9 -194.8 -5.8 Total cash flow -5.9 6.3 2.7 15.9 2.6 15.8 Interim report July-September 2026 24
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EUR million Q3 2026 Q3 2025 9M 2026 9M 2025 LTM FY 2025 Cash and cash equivalents Cash balance as at beginning of the period, Group total 89.8 76.5 82.3 69.8 82.7 69.8 Net effects of exchange loss on cash balances -0.6 -0.1 -1.7 -3.0 -2.0 -3.3 Cash balance as at end of the period, Group total 83.3 82.7 83.3 82.7 83.3 82.3 Cash balance reported as held for sale 1.1 - 1.1 - 1.1 - Cash and cash equivalents, in statement of financial posi on 82.2 - 82.2 - 82.2 - Increase/(decrease) in cash and cash equivalents -5.9 6.3 2.7 15.9 2.6 15.8 EUR million Q3 2026 Q3 2025 9M 2026 9M 2025 LTM FY 2025 Discon nued opera ons Net cash from opera ng ac vi es 0.5 5.5 0.0 7.3 5.7 13.0 Net cash used in inves ng ac vi es -3.2 -4.6 -10.3 -13.8 -21.5 -25.0 Net cash from/(used in) financing ac vi es 3.0 -5.3 -6.1 -14.2 -10.2 -18.3 Total cash flow from discon nued opera ons 0.3 -4.4 -16.4 -20.7 -26.0 -30.3 Interim report July-September 2026 25
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Parent company income statement EUR million Q3 2026 Q3 2025 9M 2026 9M 2025 FY 2025 Revenue 0.3 0.2 1.4 0.5 0.8 Opera ng expenses -2.3 -1.9 -6.8 -5.9 -8.2 Opera ng loss -2.0 -1.7 -5.4 -5.4 -7.4 Result from par cipa on in group companies -1.3 2.4 -1.3 2.4 25.7 Interest income from group companies 1.4 1.6 5.0 4.5 6.0 Interest expense -1.3 -1.2 -3.7 -3.2 -4.4 Other financial income/(expense) 0.0 0.0 0.0 0.2 0.2 Profit/(loss) a er financial items -3.2 1.1 -5.4 -1.5 20.1 Income tax - - - - - Profit/(loss) for the period -3.2 1.1 -5.4 -1.5 20.1 As the profit/(loss) for the period corresponds with the amount in total comprehensive income, no separate statement of comprehensive income is presented. Parent company balance sheet EUR million 30 Sep 2026 30 Sep 2025 31 Dec 2025 Property, plant and equipment 0.0 0.0 0.0 Investments in subsidiaries 582.6 589.7 594.9 Total non-current assets 582.6 589.7 594.9 Current receivables 221.9 221.9 252.2 Cash and bank 0.0 0.0 0.0 Total current assets 221.9 221.9 252.2 Total assets 804.5 811.6 847.1 Restricted equity 30.7 30.7 30.7 Non-restricted equity 595.9 597.9 624.3 Total equity 626.6 628.6 655.0 Current liabili es 177.9 183.0 192.1 Total liabili es 177.9 183.0 192.1 Total equity and liabili es 804.5 811.6 847.1 Interim report July-September 2026 26
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Notes 1. Basis of prepara on and accoun ng policies Basis of prepara on Medicover AB (publ) (“the Company”) together with its subsidiaries are referred to as “the Group”. Medicover AB (publ) is a company domiciled in Sweden, with its head office in Stockholm. The repor ng and func onal currency of the Company is the euro. This interim report has been prepared in accordance with IAS 34 Interim Financial Repor ng and should be read together with the Group’s consolidated financial statements 2025. The report does not include all disclosures that would otherwise be required in a complete set of financial statements. Informa on on pages 1-18 is an integral part of this report. Accoun ng policies, use of es mates and judgements The Group applies the IFRS Accoun ng Standards (“IFRS”) as adopted by the European Union. Some amendments to exis ng standards became applicable as from 1 January 2026, however none of these have a material impact on the consolidated financial statements or accoun ng policies when applied for the first me. The Group will apply IFRS 18 Presenta on and Disclosure in Financial Statements from 1 January 2027, with retrospec ve applica on. The assessment of the standard is being finalised and is expected to result primarily in presenta on and classifica on changes within the consolidated income statement, including the inclusion of certain items currently presented within interest expense, other financial income/expense and other income/costs in opera ng profit. The Group is also assessing the impact of the new requirements rela ng to management-defined performance measures (MPMs). During the third quarter 2026, the Group classified its hospital opera ons in India as a disposal group held for sale and as a discon nued opera on in accordance with IFRS 5 Non-current Assets Held for Sale and Discon nued Opera ons. As a result, the assets and liabili es of the disposal group are presented as held for sale and the financial performance of the discon nued opera on is presented separately from con nuing opera ons in the Consolidated income statement. Compara ve periods have been restated where applicable to reflect the discon nued opera on. The amounts for con nuing and discon nued opera ons in the consolidated financial statements are presented a er elimina on of intra-group transac ons and balances. Except for the effects of the IFRS 5 classifica on, the accoun ng policies and methods of computa on applied in preparing this interim report are unchanged from those applied in the Group’s 2025 consolidated financial statements. The prepara on of interim reports requires the use of certain cri cal accoun ng es mates. It also requires management to exercise judgement in applying the Group’s accoun ng policies. Refer to the Group’s consolidated financial statements 2025 for further informa on on the use of es mates and judgements. The parent company applies the Swedish Annual Accounts Act and the Swedish Corporate Repor ng Board’s Recommenda on RFR 2 Accoun ng for Legal En es. Alterna ve performance measures (APMs) are presented in this interim report since these are considered as important supplemental measures of the Company’s performance. For defini on and reconcilia on of APMs, refer to medicover.com. Interim report July-September 2026 27
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2. Assets held for sale and discon nued opera ons On 6 August 2026, Medicover entered into a share purchase agreement to dispose all of its hospital opera ons in India. The regulatory approval required for the disposal was obtained in October 2026. The par es are in the process of comple ng the remaining pre-closing ac ons. The transac on is expected to be completed by the end of November 2026. In this Q3 2026 interim report, the disposal group has been classified as held for sale and as discon nued opera on in accordance with IFRS 5. The related assets and liabili es have therefore been presented separately as assets held for sale and as liabili es directly associated with assets held for sale. The financial performance of the Indian hospital opera ons is presented as discon nued opera ons for all periods presented in this interim report. The amounts are presented a er elimina on of intra- group transac ons and balances. Financial performance of discon nued opera ons EUR million Q3 2026 Q3 2025 9M 2026 9M 2025 LTM FY 2025 Revenue 67.4 52.9 181.1 148.4 233.4 200.7 Expenses -67.7 -53.8 -186.7 -156.0 -241.7 -211.0 Loss before income tax -0.3 -0.9 -5.6 -7.6 -8.3 -10.3 Income tax 0.7 0.3 3.4 3.9 4.3 4.8 Profit/(loss) from discon nued opera ons 0.4 -0.6 -2.2 -3.7 -4.0 -5.5 Assets and liabili es rela ng to the disposal group EUR million 30 Sep 2026 Goodwill 55.9 Property, plant and equipment 75.2 Right-of-use assets 124.3 Deferred tax assets 27.3 Trade and other receivables 85.0 Cash and cash equivalents 1.1 Other assets 18.8 Total assets classified as held for sale 387.6 Loans payable 29.8 Lease liabili es 143.0 Trade and other payables 37.7 Other liabili es 3.8 Total liabili es associated with assets classified as held for sale 214.3 The cumula ve foreign exchange loss recognised in other comprehensive income in rela on to the disposal group as at 30 September 2026 was EUR 28.7 million. The proceeds of disposal will substan ally exceed the carrying value of the related net assets and accordingly no impairment loss has been recognised in connec on with the classifica on of the opera ons as held for sale. Interim report July-September 2026 28
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3. Segment informa on Q3 2026 Q3 2025¹ EUR million, con nuing opera ons Healthcare Services Diagnos c Services Central/other Total Healthcare Services Diagnos c Services Central/other Total Revenue 374.7 203.8 0.3 353.6 191.7 0.3 Inter-segment revenue -0.6 -6.8 -0.6 -0.5 -6.1 -0.3 Revenue from external customers 374.1 197.0 -0.3 570.8 353.1 185.6 0.0 538.7 By payer: Private 307.2 142.9 -0.3 449.8 288.0 129.8 0.0 417.8 Public 66.9 54.1 0.0 121.0 65.1 55.8 0.0 120.9 By country: Poland 310.3 23.8 0.0 334.1 286.8 21.9 0.0 308.7 Germany 11.5 82.7 - 94.2 13.8 81.0 - 94.8 Romania 46.1 36.8 - 82.9 46.7 34.9 - 81.6 Ukraine 2.4 25.2 - 27.6 2.2 21.6 - 23.8 Other countries 3.8 28.5 -0.3 32.0 3.6 26.2 0.0 29.8 Opera ng profit 40.6 22.3 -13.6 49.3 33.1 20.6 -13.3 40.4 Margin 10.8% 10.9% 8.6% 9.4% 10.7% 7.5% Deprecia on, amor sa on and impairment 33.4 15.5 1.1 50.0 34.5 15.2 0.8 50.5 EBITDA 74.0 37.8 -12.5 99.3 67.6 35.8 -12.5 90.9 Margin 19.8% 18.5% 17.4% 19.1% 18.7% 16.9% Right-of-use deprecia on/impairment -15.8 -7.2 -0.1 -23.1 -15.4 -6.9 -0.1 -22.4 Interest on lease liabili es -3.9 -1.4 0.0 -5.3 -3.9 -1.4 0.0 -5.3 Segment result: EBITDAaL 54.3 29.2 -12.6 70.9 48.3 27.5 -12.6 63.2 Margin 14.5% 14.3% 12.4% 13.6% 14.3% 11.7% Other income/(costs) -0.2 -0.7 Net interest expense -12.4 -11.8 Other financial income/(expense) -4.0 -1.2 Share of profit of associates 0.0 0.0 Income tax -7.9 -7.5 Profit for the period from con nuing opera ons 24.8 19.2 Interim report July-September 2026 29
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9M 2026 9M 2025¹ EUR million, con nuing opera ons Healthcare Services Diagnos c Services Central/other Total Healthcare Services Diagnos c Services Central/other Total Revenue 1,135.4 609.2 1.1 1,075.0 562.9 0.6 Inter-segment revenue -1.9 -21.3 -0.9 -1.5 -18.6 -0.4 Revenue from external customers 1,133.5 587.9 0.2 1,721.6 1,073.5 544.3 0.2 1,618.0 By payer: Private 933.7 422.3 0.2 1,356.2 879.7 376.2 0.2 1,256.1 Public 199.8 165.6 0.0 365.4 193.8 168.1 0.0 361.9 By country: Poland 934.1 69.2 0.0 1,003.3 847.0 65.6 0.1 912.7 Germany 35.5 252.9 - 288.4 43.2 244.1 - 287.3 Romania 144.1 108.7 - 252.8 138.6 100.2 - 238.8 Ukraine 7.0 71.8 - 78.8 6.6 63.3 - 69.9 Other countries 12.8 85.3 0.2 98.3 38.1 71.1 0.1 109.3 Opera ng profit 115.8 72.4 -43.2 145.0 98.2 61.4 -41.6 118.0 Margin 10.2% 11.9% 8.4% 9.1% 10.9% 7.3% Deprecia on, amor sa on and impairment 100.9 45.7 2.9 149.5 99.3 43.8 2.4 145.5 EBITDA 216.7 118.1 -40.3 294.5 197.5 105.2 -39.2 263.5 Margin 19.1% 19.4% 17.1% 18.4% 18.7% 16.3% Right-of-use deprecia on/impairment -47.1 -21.2 -0.2 -68.5 -44.6 -19.5 -0.3 -64.4 Interest on lease liabili es -11.7 -4.1 0.0 -15.8 -11.1 -3.9 0.0 -15.0 Segment result: EBITDAaL 157.9 92.8 -40.5 210.2 141.8 81.8 -39.5 184.1 Margin 13.9% 15.2% 12.2% 13.2% 14.5% 11.4% Other income/(costs) -0.2 1.1 Net interest expense -35.8 -34.8 Other financial income/(expense) -9.2 0.0 Share of profit of associates 0.0 0.2 Income tax -28.0 -25.4 Profit for the period from con nuing opera ons 71.8 59.1 Interim report July-September 2026 30
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LTM FY 2025¹ EUR million, con nuing opera ons Healthcare Services Diagnos c Services Central/other Total Healthcare Services Diagnos c Services Central/other Total Revenue 1,509.9 801.2 1.2 1,449.5 754.9 0.7 Inter-segment revenue -2.5 -27.9 -0.9 -2.1 -25.2 -0.4 Revenue from external customers 1,507.4 773.3 0.3 2,281.0 1,447.4 729.7 0.3 2,177.4 By payer: Private 1,241.6 553.4 0.3 1,795.3 1,187.6 507.3 0.3 1,695.2 Public 265.8 219.9 0.0 485.7 259.8 222.4 0.0 482.2 By country: Poland 1,240.1 90.8 0.0 1,330.9 1,153.0 87.2 0.1 1,240.3 Germany 49.4 333.7 - 383.1 57.1 324.9 - 382.0 Romania 191.5 142.1 - 333.6 186.0 133.6 - 319.6 Ukraine 9.2 93.8 - 103.0 8.8 85.3 - 94.1 Other countries 17.2 112.9 0.3 130.4 42.5 98.7 0.2 141.4 Opera ng profit 148.6 90.5 -59.6 179.5 131.0 79.5 -58.0 152.5 Margin 9.8% 11.3% 7.9% 9.0% 10.5% 7.0% Deprecia on, amor sa on and impairment 134.9 60.9 3.7 199.5 133.3 59.0 3.2 195.5 EBITDA 283.5 151.4 -55.9 379.0 264.3 138.5 -54.8 348.0 Margin 18.8% 18.9% 16.6% 18.2% 18.3% 16.0% Right-of-use deprecia on/impairment -62.6 -28.2 -0.2 -91.0 -60.1 -26.5 -0.3 -86.9 Interest on lease liabili es -15.6 -5.4 0.0 -21.0 -15.0 -5.2 0.0 -20.2 Segment result: EBITDAaL 205.3 117.8 -56.1 267.0 189.2 106.8 -55.1 240.9 Margin 13.6% 14.7% 11.7% 13.1% 14.1% 11.1% Other income/(costs) 0.3 1.6 Net interest expense -47.2 -46.2 Other financial income/(expense) -8.5 0.7 Share of profit/(loss) of associates -0.1 0.1 Income tax -33.1 -30.5 Profit for the period from con nuing opera ons 90.9 78.2 ¹Compara ve figures have been restated to reflect the classifica on of Medicover Hospitals India as a discon nued opera on. Interim report July-September 2026 31
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4. Share capital Share capital as at 30 September 2026 was EUR 30.7 million (EUR 30.7 million). The number of shares was as follows: Celox Holding AB owned 47,157,365 shares (47,157,365 shares) and 56.0% of the vo ng rights (56.0%). The number of shares used to calculate the basic earnings per share was 151,974,274 (150,978,518) for the quarter and 151,540,227 (150,612,539) for the nine months. The number of shares used to calculate the diluted earnings per share was 151,974,274 (150,978,518) for the quarter and 151,973,555 (150,978,891) for the nine months. C shares are held by the Company as treasury shares. The quota value was EUR 0.2 (EUR 0.2) per share. Equity se led share-based programme The five-year ves ng period for Plan 2021 was completed on 29 April 2026. The performance condi ons achieved corresponded to 8 performance shares for each share right. The EBITDA annual growth rate (CAGR) calculated on the basis of the Group’s financial statements for 2020 and 2025 was 18.6%. Refer to note 8 in the annual report 2025 for more informa on. Medicover compensated the par cipants for the dividends paid during the dura on of the programme by increasing the number of shares. In May 2026, 995,756 class C shares were converted to class B shares and distributed to the par cipants. Class A shares Class B shares Class C shares Total 1 January 2025 76,631,101 73,507,818 3,396,276 153,535,195 Conversion of class A to class B shares -7,675 7,675 Conversion of class C to class B shares 839,599 -839,599 30 September 2025 76,623,426 74,355,092 2,556,677 153,535,195 1 January 2026 76,549,801 74,428,717 2,556,677 153,535,195 Conversion of class C to class B shares 995,756 -995,756 30 September 2026 76,549,801 75,424,473 1,560,921 153,535,195 5. Business combina ons During the nine months, the Group completed four acquisi ons within Healthcare Services: a gym business and a clinic in Poland, together with two related-party acquisi ons in India comprising a healthcare distribu on company and so ware company. None of these acquisi ons was individually significant. The acquisi on of the gym business was part of the regulatory approval process related to the CityFit acquisi on completed in 2025, under which Medicover was required to divest two gyms. Total considera on for the four acquisi ons was EUR 14.8 million, of which EUR 2.1 million (net of EUR 1.2 million acquired cash) was se led in cash, EUR 7.8 million in shares in Medicover Hospitals India and EUR 4.9 million through an exchange transac on of gym businesses. Goodwill for the two en es in India amounted to EUR 10.7 million and represented skilled workforce and established supplier rela onships. EUR 10.1 million of goodwill has been classified as assets held for sale, refer to note 2. Goodwill for the clinic in Poland amounted to EUR 0.2 million and represented synergies. Goodwill for the gym business in Poland amounted to EUR 5.2 million and represented synergies with exis ng sport operations and benefit plans within the funded business. Goodwill is not expected to be deductible for tax purposes. The impact on the consolidated income statement 2026 and the impact on revenue and profit if these acquisitions occurred on 1 January 2026 are minor. Acquisi on related expenses (included in administra ve expenses) amounted to EUR -0.3 million. 6. Related party transac ons There were no material related party transac ons as at 30 September 2026, refer to note 5 rela ng to current year business combina ons. In prior years, the Group purchased material and services from non-controlling interests in MHI which were reported as related party transac ons. Purchase of material and services from these par es amounted to EUR -10.8 million for the quarter and to EUR -28.8 million for the nine months in the compara ve period 2025. The related trade payables amounted to EUR 10.1 million as at 30 September 2025. Interim report July-September 2026 32
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7. Financial assets and liabili es Financial assets and liabili es carried at amor sed cost are considered to have carrying values that materially correspond to fair value, with the excep on for the schuldschein debt at fixed interest rates where the carrying value amounted to EUR 140.7 million (EUR 140.7 million) and fair value to EUR 131.7 million (EUR 131.9 million). Recognised fair value measurements - valua on technique and principal inputs A breakdown of how fair value is determined is indicated in the following three levels: Level 1: Short-term investments of EUR 0.4 million (EUR 0.4 million) include government bonds. Fair value hierarchy level 1 is used when the valua on is based on quoted prices in ac ve markets. Level 2: The Group has foreign currency- and interest rate swaps where the valua on is based on level 2. Fair value hierarchy level 2 is used when inputs, other than the quoted prices included in level 1, are observable. Level 3: The Group has the following significant financial assets and liabili es measured using level 3, where fair value is not based on observable market data: a) The con ngent considera on payable resul ng from current year and past business combina ons is mainly based on the es mated outcome of future performance targets. b) The put op on liquidity obliga ons with non-controlling interests consist of: - A put op on liquidity obliga on with non-controlling interests in Medicover Hospitals India (“MHI”) of EUR 34.4 million (EUR EUR million 30 Sep 2026 30 Sep 2025 31 Dec 2025 Financial assets at fair value through profit or loss Short-term investments 0.4 0.3 0.4 Foreign currency swaps - 0.4 2.9 Other financial assets 0.0 0.9 0.0 Total 0.4 1.6 3.3 Interest rate swaps used for hedging 2.1 - 0.2 Total financial assets at fair value 2.5 1.6 3.5 Financial assets at amor sed cost Other financial assets 11.9 17.9 16.7 Trade and other financial receivables 249.8 287.6 305.8 Total 261.7 305.5 322.5 Cash and cash equivalents 82.2 82.7 82.3 Total financial assets 346.4 389.8 408.3 Financial liabili es at fair value through profit or loss Foreign currency swaps 5.2 - - Con ngent considera on payable¹ 6.8 12.4 8.9 Total 12.0 12.4 8.9 Interest rate swaps used for hedging - 0.0 0.0 Foreign currency forwards used for hedging 9.4 - - Put op on liquidity obliga ons with non-controlling interests (with movement through equity)² 40.1 36.9 38.9 Total financial liabili es at fair value 61.5 49.3 47.8 Financial liabili es at amor sed cost Borrowings¹ 811.1 849.6 846.4 Lease liabili es 424.5 540.2 559.4 Other financial liabili es 2.1 2.9 2.9 Trade and other financial payables 62.2 86.7 117.0 Deferred considera on payable¹ 20.4 24.7 25.1 Total 1,320.3 1,504.1 1,550.8 Total financial liabili es 1,381.8 1,553.4 1,598.6 ¹Presented as loans payable in the statement of financial posi on. ²Presented as other financial liabili es in the statement of financial posi on. Interim report July-September 2026 33
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34.6 million). This obliga on will be derecognised upon comple on of the divestment of the Indian hospital business. - Put op on liquidity obliga ons with non-controlling interests in subsidiaries in Norway, Cyprus and Bosnia-Herzegovina of EUR 5.7 million (EUR 4.3 million), es mated to be exercised between 2027-2028. In determining the fair value of the obliga ons, es ma ons of key variables were made, of which the most significant are the growth rate of the business to determine its profitability at the future date of exercise and the discount rate applied to the nominal value. The following table summarises the quan ta ve informa on about the significant unobservable inputs used in the material level 3 fair value measurements: Fair value (EURm) Inputs Sensi vity Descrip on 30 Sep 2026 31 Dec 2025 30 Sep 2026 31 Dec 2025 Rela onship of unobservable inputs to fair value (FV) Put op on liquidity obliga on with non- controlling interests in MHI, India 34.4 34.6 7-year projected CAGR EBITDA 26.2% 26.2% Increase of 10% in CAGR EBITDA = increase in FV liability of EUR 4.6m Risk adjusted discount rate 14.2% 12.0% Decrease of 1% point in discount rate = increase in FV liability of EUR 0.4m Con ngent considera on payable 6.8 8.9 Risk adjusted discount rate 8.5-11.8% 5.5-11.8% Decrease of 1% point in discount rate = increase in FV liability of EUR 0.0m No addi onal significant changes have been made to valua on techniques, inputs or assump ons in 2026. No financial assets or liabili es have been reclassified between the different levels in the fair value hierarchy. Interim report July-September 2026 34
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8. Net financial debt and other financial liabili es EUR million 30 Sep 2026 30 Sep 2025 31 Dec 2025 Non-current loans payable 388.9 678.0 620.8 Current loans payable 449.4 208.7 259.6 Loans payable classified as held for sale 29.8 - - Total loans payable 868.1 886.7 880.4 Less: short-term investments -0.4 -0.3 -0.4 Less: cash and cash equivalents -82.2 -82.7 -82.3 Less: short-term investments and cash and cash equivalents classified as held for sale -1.1 - - Loans payable net of cash and liquid short-term investments 784.4 803.7 797.7 Non-current lease liabili es 338.5 454.7 474.1 Current lease liabili es 86.0 85.5 85.3 Lease liabili es classified as held for sale 143.0 - - Total lease liabili es 567.5 540.2 559.4 Financial debt 1,435.6 1,426.9 1,439.8 Less: short-term investments -0.4 -0.3 -0.4 Less: cash and cash equivalents -82.2 -82.7 -82.3 Less: short-term investments and cash and cash equivalents classified as held for sale -1.1 - - Net financial debt total group 1,351.9 1,343.9 1,357.1 EUR million 30 Sep 2026 30 Sep 2025 31 Dec 2025 Other financial liabili es Non-current 25.1 37.7 40.0 Current 31.7 2.1 1.8 Total other financial liabili es 56.8 39.8 41.8 Interim report July-September 2026 35