Interim report
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HALF-YEAR REPORT 2026 Nord Insuretech Group AB (publ.)
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CHAPTER CHAPTER Letter from the CEO 01. Summary 02. About the business 03. We are Nord Insuretech Group 04. Operational metrics 05. Financial information 06. The Nord share 07. Financial calendar 08. Statement by the Board of Directors 09. Consolidated financial statement 10. Definitions of key figures 11. CONTENTS
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01. LETTER FROM THE CEO 3HALF-YEAR REPORT 2026 As communicatedin our press release of 6 August 2026, Nord Insuretech Group is sharpening its focus on profitability, portfolio quality and a sustainable foundation for long-term growth. Having reached a portfolio of NOK 85 million and 8,000 active policies, the management team has resolved to scale back volume-driven sales activities and increase investment in initiatives that strengthen portfolio profitability. The company remains in a scaling phase, but the emphasis is now on realising the structural advantages of operating as a digital insurtech. We hold a clear lead over our competitors in cost-efficient customer acquisition, and we intend to defend and further extend that position. In parallel, we will implement measures to improve the balance and compositionof our customer portfolio. Our model is built on fully digital sales, supported by a proactive customer service centre serving both existing and prospective customers. We believe the human element remains essential and that our customers continue to expect personal contact; however, the information required to purchase insurance will be delivered through a fully digital sales channel. As the portfolio expands, claims volumes will rise accordingly. Business control, including robust data insight and the analytical capability to anticipate how the claims ratio will develop, becomes materially more important in the next phase. We will therefore invest in business control and analytics capabilities and further develop our claims governance framework to safeguard portfolio profitability. We are investing in digital sales and business control while reducing volume- driven sales capacity. This entails changes to the company's organisational structure, targeted development of competencies, and an adjustment of capacity to meet our profitability targets. Nord Insuretech Group remains fully committed to growing the business, on its own terms, and with a portfolio that performs. OLE MORTEN SETTEVIK CEO NIG 27th of August 2026
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02. SUMMARY HALF-YEAR REPORT 2026 4 First Half of 2026 Gross written premium (GWP) from new sales amounted to SEK 33.6 million (SEK 22.3 million). The insurance portfolio increased from SEK 61.8 million to SEK 85.7 million. The number of active insurance policies increased from 6,744 to 7,874. Net sales amounted to SEK 3,676 thousand (SEK 2,472 thousand). EBITDA for the period amounted to SEK -10,250 thousand (SEK -7,979 thousand). Profit/loss after tax amounted to SEK -15,372 thousand (SEK -13,853 thousand). Earnings per share amounted to SEK -0.04 (SEK -0.04).
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Notable events during last period February 2026 Nord Insuretech Group AB published the Year-End Report for 2025. March 2026 Ole Morten Settevik took over as Acting CEO of NIG. April 2026 NIG publishes Q1 Business Update and Ole Morten Settevik transitions to permanent CEO of the group. May 2026 Annual Report is published. June 2026 Annual General Meeting is held on 23rd of June. 5HALF-YEAR REPORT 2026
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Notable events after last period 6HALF-YEAR REPORT 2026 August 2026 Nord Insuretech Group AB announces a strategic shift from high-volume sales activity and into focusing on profitability, portfolio quality and a healthy foundation for future growth.
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Development in the number of insurance policies PORTFOLIO DEVELOPMENT 7 Development of the portfolio in insurance premiums (NOK) New sales of insurance premiums (NOK) HALF-YEAR REPORT 2026
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03. ABOUT THE BUSINESS 8HALF-YEAR REPORT 2026 Nord Insuretech Group aims to provide a tailored 360-degree insurance solution to enhance the customer journey within the insurance space. We deliver a fully digital solution for our own insurance brands and for partners. NORD INSURETECH DELIVERS NEXT- GENERATION EMBEDDED INSURANCE IN THE NORDIC REGION
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Nord Insuretech group primarily delivers a complete insurance value chain through its two subsidiaries, Digisure and Digisure Technology. We utilise technology to remain a cost-effective and scalable group. Digisure develops the technical platform and complementing these with a tailored user experience, advicers, claims handlers, and service managers. BUSINESS MODEL Full service set-up: • End-to end insurance platform • Full range of insurance products • Communication with carrier • Customer service • Claims handling • Sales conversion support • Reporting Our distribution is as an insurance agent on behalf of our main insurer. Pricing models and products are developed in close collaboration with them, with no underwriting risk. Nord Insuretech Group AB (publ) receives commission from the insurer based on the portion of the premium that is earned ("earned premium"). The commission is shared with distribution partners according to agreement and typically ranges between 15–30% of the premium volume, including the partner's share and costs for third-party providers. Our primary focus is on converting digital leads and providing personalised customer service when needed. 9HALF-YEAR REPORT 2026 Our platform enables the seamless distribution of specialised insurance products, tailored to our partners specific requirements. The visuals illustrates the streamlined customer journey for car insurance through Nord Forsikring. By authenticating via Vipps or National ID, the system instantly retrieves the user's registered vehicles. Within seconds, a personalized offer is generated, allowing the user to customize coverage and parameters for a bespoke policy and purchasable directly within the portal. FULLY DIGITAL CUSTOMER JOURNEY
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10HALF-YEAR REPORT 2026 04. WE ARE NORD INSURETECH GROUP Nord Insuretech Group aims to be a challenger in the insurance space, bringing concepts, strategies and commercial product development from other industries into insurance. By doing so, we believe we can deliver a fully digital customer experience in a way few others in the market offer. Our approach starts with the technology. Rather than adapting legacy systems, we have built a modern platform from the ground up, designed to make insurance faster to launch, simpler to buy and easier to manage. We reach customers through our own brands and our partners, embedding our products into the platforms and customer journeys of businesses that already hold strong customer relationships. This meets end customers at the moment insurance is most relevant to them. Our focus is the Nordic insurance market, where we see room for a player that pairs insurance expertise with the product thinking and customer experience of more digitally mature industries. That combination is what we believe sets Nord Insuretech Group apart.
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05. OPERATIONAL KEY METRICS Nord Insuretech Group believes that the key performance indicators provide a better understandingof the Group’s financial development. As not all companies calculate financial measures in the same manner, these measures may not be comparable with similar measures used by other companies. This Interim Report has not been audited or reviewed by the Company’s auditors. 11HALF-YEAR REPORT 2026 Group Overview (SEK thousand) 30.06.2026 30.06.2025 Earnings per share (SEK) -0,04 -0,04 Equity per share (SEK) 0,03 0,08 Number of shares 369 612 199 328 178 059 Cash flow -2 059 1 687 Operating margin, % N/A N/A Profit margin, % N/A N/A Equity ratio, % 35 % 42 %
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06. FINANCIAL INFORMATION Nord Insuretech Group AB (also referred to as "Nord" in this report) is a Swedish public limited liability company registered in Sweden on 21 September 2016. Nord's operations are conducted in accordance with Swedish law and governed by the Swedish Companies Act (2005:551). The Board of Directors has its registered office in the Municipality of Stockholm. The Company has its head office in Stockholm, Sweden. The Company's Chief Executive Officer is Ole Morten Settevik. The shares of Nord Insuretech Group AB are listed on Nordic Growth Market (NGM). 12HALF-YEAR REPORT 2026
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Net sales for the period amounted to SEK 3,676 thousand (SEK 2,472 thousand). Operating lossamounted to SEK -15 154 thousand, compared with SEK -13,013 thousand in the correspondingperiod of the previous year. Loss after income tax amounted to SEK -15,372 thousand (SEK -13 853 thousand). The result includes depreciationand impairmentcharges of SEK 4,904 thousand. Earnings per share amounted to SEK -0.04 (SEK -0.04). OPERATIONS DURING THE PERIOD The Group’s cash flow for the period amounted to SEK -2,1 million (SEK 1,7 million). At the end of the period, the Group’s cash and cash equivalents amounted to SEK 1,3 million (SEK 6.4 million). At the end of the period, current receivables amounted to SEK 0,002 million, while non-current receivables amounted to SEK 0.3 million. Current liabilities amounted to SEK 13.3 million, and non-current liabilities amounted to SEK 6.4 million. FINANCIAL POSITION Nord Insuretech Group AB had no net sales during the period. EBITDA amounted to SEK -1.2 million (SEK -1.6 million). Loss for the period, before and after tax, amounted to SEK -1.2 million (SEK -2.4 million). Current receivablesfrom Group companies amounted to SEK 25.7 million, of which the majority relates to a receivable from Digisure AS. Trade payables and other current liabilities amounted to SEK 5.4 million at the end of June 2026. Cash flow in the Parent Company amounted to SEK -1.9 million (SEK 0.4 million) for the period January–June. THE PARENT COMPANY 13HALF-YEAR REPORT 2026
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07. THE NORD SHAR 14HALF-YEAR REPORT 2026 05. THE NORD SHARE Nord’s communication to its shareholders and the broader capital market aims to provide a fair and accurate picture of the company’s development, minimize the risk of rumours and speculation, and help increase interest in the company’s shares. Nord’s share has been listed on Nasdaq First North Growth Market in Stockholm from January 2021 to December 2023. Since December 2023, Nord’s share has been listed on NGM Growth Market. The share is traded under the ticker symbol “NORDIG.”
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15HALF-YEAR REPORT 2026 Nord's share has been traded on NGM Growth Market since 28 December 2023. As of 30 June 2026, the Company had approximately 4,415 shareholders. The closing price at the end of 2025 was SEK 0.630. The closing price on 30 June 2026 was SEK 0.750, corresponding to an increase of 19.05 per cent during the first half of 2026. The accompanying graph illustrates the development of the closing price against the OMXSPI index, with the Company's press releases marked along the period. MARKET VALUE AND TURNOVER Source: Modular Finance
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16HALF-YEAR REPORT 2026 As of 30 June 2026, the Company's share capital amounted to SEK 57 537 951,84, divided into 369,612,199 shares, each with a quotient value of SEK 0.1600. The shares constitute a single share class, are denominated in Swedish kronor (SEK) and have been issued in accordance with Swedish law. Each share entitles the holder to one vote at the General Meeting, with no voting restrictions, and carries equal rights to the Company's assets and earnings. In the event of liquidation, shareholders are entitled to a proportional share of any remaining surplus. All shares are freely transferable. To the best of the Board's knowledge, no shareholder agreements or similar arrangements exist that are intended to establish joint control or coordinated influence over the Company. Under the Swedish Companies Act, shareholders generally have preferential rights to subscribe for new shares, warrants and convertibles, unless the General Meeting, or the Board pursuant to an authorisation, resolves otherwise. According to the Articles of Association, the share capital shall be no less than SEK 52,000,000 and no more than SEK 208,000,000, divided into no fewer than 328,170,000 and no more than 1,312,680,000 shares. SHARE CAPITAL
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SHAREHOLDERS Owner Number of shares Votes Strategic Investments A/S 131 745 081 35.64% Klaus Zwisler 60 012 327 16.24% MNK Group Holdings Limited 40 000 000 10.82% Nasakkah Sarl 11 127 932 3.01% Vikna Invest AS 8 229 143 2.29% Gsg Holding AS 7 167 076 1.99% Stig Grimsgaard Andersen 3 859 520 1.07% Steian Invest AS 2 749 896 0.74% Kaona Holding AS 2 293 448 0.62% Jan Petter Myhrstad 1 899 200 0.53% Skaidi AS 1 838 605 0.50% Trit Holding Aalborg Aps 1 687 170 0.46% Knn Holding Aalborg Aps 1 620 000 0.44% Gradén Mattson Holding AB 1 567 219 0.42% Amesto Group AS 993 407 0.41% Söndre Berger Gård AS 1 290 441 0.36% Cecilie Røskeland 1 277 283 0.35% Wrec AS 752 960 0.31% Mathias Gjems Krogstad 750 991 0.31% Patric Ljung 912 000 0.25% Other shareholders 87 838 500 23.75% Totalt 369 612 199 100,00% Source: Modular Finance 17HALF-YEAR REPORT 2026
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Nord described the most relevant risks in its Company Description in connection with the listing. These risks are presented in an updated form in the Annual Report of Nord Insuretech Group AB. RISKS 18HALF-YEAR REPORT 2026
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Nord Insuretech Group AB contact information: Nord Insuretech Group AB (publ.), organisation number 559077-0748, Industrigatan 4A, 112 46 Stockholm SE. For more info, contact: Ole Morten Settevik, CEO Email: olemorten@nordinsuretechgroup.com 08. FINANCIAL CALENDAR 19HALF-YEAR REPORT 2026 FEBRUARY 2027 Year-End report 26.02.2027 MAY 2027 Annual report 14.05.2027
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09. STATEMENT BY THE BOARD OF DIRECTORS The Board of Directors and the CEO hereby confirm that this interim report gives a true and fair view of the Company's operations, financial position and results of operations, and that it describes the material risks and uncertainties faced by the Company. Stockholm, 28th of August 2026 Ole Morten Settevik Boardmember / CEO Kim Mikkelsen Chairman of the board Stein Ole Larsen Boardmember Ivar Sigmund Williksen Boardmember 20HALF-YEAR REPORT 2026
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10. CONSOLIDATED FINANCIAL STATEMENTS The following section presents a detailed overview of the Group's financial position and results, based on the most recent accounting tables. The result for the period amounts to SEK –15,2 million, of which SEK –4,9million consists of impairment and depreciation/amortisation. The tables provide a transparent view of our revenue, expenses and results, as well as assets and liabilities. The cash flow statement and changes in equity are also presented, which together give a comprehensive picture of the Group's financial health. 21HALF-YEAR REPORT 2026
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CONSOLIDATED INCOME STATEMENT 22HALF-YEAR REPORT 2026 2026-01-01 2025-01-01 2026-06-30 2025-06-30 Net sales 3 676 2 472 Capitalised work for own account 0 0 Total net sales 3 676 2 472 Cost of goods sold -523 -473 Other external expenses -7 417 -5 412 Personnel costs -5 986 -4 567 Other operating expenses 0 0 Total operating expenses -13 926 -10 451 Operating profit (EBITDA) -10 250 -7 979 Depreciation, amortisation and impairment -4 904 -5 034 Operating profit (EBIT) -15 154 -13 013 Financial income 19 1 Financial expenses -236 -842 Net financial items -218 -840 Profit before income tax -15 372 -13 853 Income tax 0 0 Profit for the period -15 372 -13 853 (TSEK)
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CONSOLIDATED BALANCE SHEET 23HALF-YEAR REPORT 2026 ASSETS Non-current assets Property, plant and equipment 882 1 114 1 114 Intangible assets 7 981 8 667 14 300 Goodwill 12 167 12 185 12 178 Customer contracts 7 776 9 581 11 995 Website, technical platform, etc. 0 Deferred tax assets 0 Non-current receivables 308 287 297 Total non-current assets 29 114 31 834 39 884 Current assets Inventory 0 0 0 Trade receivables 0 0 0 Other current receivables 2 736 18 374 Prepaid expenses and accrued income 51 272 143 Current tax assets 0 0 0 Cash and cash equivalents 1 292 3 351 6 366 Total current assets 1 345 4 359 24 883 TOTAL ASSETS 30 458 36 193 64 767 EQUITY AND LIABILITIES Equity attributable to the parent company’s shareholders Share capital 57 538 57 538 52 508 Unregistered share capital 4 992 0 0 Other paid-in capital 565 694 565 694 555 006 Retained earnings including profit for the year -617 556 -602 245 -580 289 Total equity 10 667 20 987 27 225 LIABILITIES Non-current liabilities Liabilities to credit institutions 0 0 0 Other long-term liabilities 6 446 5 543 1 164 Total non-current liabilities 6 446 5 543 1 164 Current liabilities Liabilities to credit institutions 0 0 0 Trade payables 2 872 854 2 178 Short-term convertible liabilities 4 191 5 116 8 464 Other provisions 0 0 0 Other current liabilities 5 460 3 265 25 321 Accrued expenses and deferred income 821 429 413 Total current liabilities 13 344 9 663 36 377 Total liabilities 19 790 15 206 37 541 Net assets 10 667 20 987 27 225 TOTAL EQUITY AND LIABILITIES 30 458 36 193 64 767 (TSEK) 2026-06-30 2025-12-31 2025-06-30
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GROUP STATEMENT OF CHANGES IN EQUITY 24HALF-YEAR REPORT 2026 Group 2026 (TSEK) Share Capital Other Contribute d Capital Unregister ed Share Capital Reserves Retained Earnings Other Equity Total Equity Equity as of 1 Jan 2026 57 537 565 693 0 436 -602 679 -602 244 20 987 Total comprehensive income Profit for the year -15 372 -15 372 -15 372 Other transfers -172 232 61 61 Total comprehensive income 0 0 0 -172 -15 140 -15 312 -15 312 Transactions with shareholders Unregistered share capital 4 992 4 992 Issuance costs New share issue 0 0 0 Total transactions with shareholders 0 0 4 992 4 992 Equity as of 30 June 2026 57 537 565 693 4 992 264 -617 819 -617 555 10 667 Group 2025 (TSEK) Share Capital Other Contribute d Capital Unregister ed Share Capital Reserves Retained Earnings Other Equity Total Equity Equity as of 1 Jan 2025 48 813 524 105 0 -938 -565 256 -566 195 6 723 Total comprehensive income Profit for the year -35 601 -35 601 -35 601 Other transfers 1 374 -1 823 -449 -449 Total comprehensive income 0 0 0 1 374 -37 423 -36 049 -36 049 Transactions with shareholders Unregistered share capital 0 Issuance costs New share issue 8 725 41 589 50 313 Total transactions with shareholders 8 725 41 589 0 50 313 Equity as of 31 Dec 2025 57 537 565 693 0 436 -602 679 -602 244 20 987 Attributable to the Company’s Shareholders Transactions with Shareholders Other Equity Attributable to the Company’s Shareholders Transactions with Shareholders Other Equity
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CONSOLIDATED CASH FLOW STATEMENT 25HALF-YEAR REPORT 2026 (TSEK) 01.01.2026 01.01.2025 30.06.2026 30.06.2025 Cash flow from operating activities Profit before income tax -15 154 -13 013 Taxes paid for the period 0 0 Adjustments for non-cash items 61 -241 Interest received and interest paid -218 -840 Depreciation and amortisation 4 904 5 034 Cash flow from operating activities before changes in working capital -10 407 -9 060 Changes in working capital Change in trade receivables and other current assets 956 -3 993 Change in trade payables and other current liabilities -419 -25 810 Total cash flow from operating activities -9 871 -38 864 Cash flow from investing activities Investments in intangible assets 2 829 29 076 Investments in tangible assets 0 0 Payment for customer portfolio 0 0 Acquisition of subsidiaries, net of cash acquired 0 0 Proceeds from sale of fixed assets 0 0 Change in other long-term receivables -21 35 Total cash flow from investing activities 2 808 29 111 Share issue 0 Borrowings raised 0 0 Convertible loans raised 3 000 11 950 Change in lease-related liabilities 904 -511 Exchange rate effects 0 0 Repayment of debt 1 100 0 Net cash flow from financing activities 5 004 11 439 Currency effect on cash and cash equivalents 0 Total cash flow for the period -2 059 1 687 Cash and cash equivalents at 01.01 3 351 4 679 Cash and cash equivalents at 30.06 1 292 6 366
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PARENT COMPANY INCOME STATEMENT 26HALF-YEAR REPORT 2026 2026-01-01 2025-01-01 2026-06-30 2025-06-30 Net sales 0 0 Capitalised work for own account 0 0 Total net sales 0 0 Cost of goods sold 0 0 Other external expenses -1 103 -1 601 Personnel costs -141 -45 Other operating expenses 0 0 Total operating expenses -1 243 -1 646 Operating profit (EBITDA) -1 243 -1 646 Depreciation, amortisation and impairment 0 0 Operating profit (EBIT) -1 243 -1 646 Financial income 0 0 Financial expenses -1 -714 Result from shares in group companies 0 0 Net financial items -1 -714 Profit before income tax -1 244 -2 361 Income tax 0 0 Profit for the period -1 244 -2 361 (TSEK)
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PARENT COMPANY BALANCE SHEET 27HALF-YEAR REPORT 2026 ASSETS Non-current assets Shares in Subsidiaries 59 395 59 395 59 395 Total non-current assets 59 395 59 395 59 395 Current assets Prepaid expenses and accrued income 4 140 76 Current Receivables from Group Companies 25 670 19 130 9 090 Other current receivables 31 31 31 Cash and cash equivalents 142 2 011 471 Total current assets 25 847 21 312 9 668 TOTAL ASSETS 85 242 80 707 69 063 EQUITY AND LIABILITIES Equity attributable to the parent company’s shareholders Share capital 57 538 57 538 52 508 Unregistered share capital 5 000 0 0 Share Premium Reserve 565 693 565 693 555 005 Retained earnings -547 196 -543 993 -543 993 Profit for the year -1 244 -3 204 -2 361 Total equity 79 790 76 034 61 160 LIABILITIES Non-current liabilities Other long-term liabilities 51 51 51 Total non-current liabilities 51 51 51 Current liabilities Liabilities to credit institutions 0 0 0 Current debt to Group Companies 0 0 0 Trade payables 399 11 685 Short-term convertible debt 4 181 4 181 6 911 Other current liabilities 0 0 169 Accrued expenses and deferred income 821 429 87 Total current liabilities 5 401 4 621 7 852 Total liabilities 5 452 4 673 7 903 Net assets 79 790 76 034 61 160 TOTAL EQUITY AND LIABILITIES 85 242 80 707 69 063 2025-12-31(TSEK) 2026-06-30 2025-06-30
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PARENT COMPANY CASH FLOW STATEMENT 28HALF-YEAR REPORT 2026 (TSEK) 2026-01-01 2025-01-01 2026-06-30 2025-06-30 Cash flow from operating activities Profit before income tax -1 243 -1 646 Depreciation and amortisation 0 0 Interest received and interest paid -1 -714 Taxes paid for the period 0 0 Cash flow from operating activities before changes in working capital -1 244 -2 361 Changes in working capital Change in trade receivables and other current assets -6 405 -9 536 Change in trade payables and other current liabilities 4 679 368 Total cash flow from operating activities -2 970 -11 529 Cash flow from investing activities 0 Acquisition of Subsidiaries, Net of Cash acquired 0 0 Total cash flow from investing activities 0 0 Cash flow from financing activities Share issue 0 0 Repayment of borrowings 1 100 0 Borrowings raised 0 11 950 Net cash flow from financing activities 1 100 11 950 Total cash flow for the period -1 870 421 Cash and cash equivalents at 01.01 2 011 50 Cash and cash equivalents at 30.06 142 471
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ACCOUNTING POLICIES AND NOTES The consolidated financial statements have been prepared in accordance with the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB), as well as interpretations from the IFRS Interpretations Committee (IFRIC), as adopted by the EU Commission for application within the EU. In addition, the recommendation RFR 1 Supplementary Accounting Rules for Groups issued by the Swedish Financial Reporting Board and the Swedish Annual Accounts Act have been applied. The financial statements have been prepared on the assumption that the Group will continue as a going concern. The accounting standard IFRS 17 Insurance Contracts, which entered into force on 1 January 2021, applies to insurance companies and is therefore not applicable to Nord Insuretech Group AB (publ). Nord Insuretech Group AB (publ) is not an insurance company but acts as an agent. 29HALF-YEAR REPORT 2026
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30HALF-YEAR REPORT 2026 11. DEFINITIONS OF KEY PERFORMANCE INDICATORS Nord Insuretech Group believes that the key performance indicators provide a better understanding of the Company’s financial trends. Since not all companies calculate financial measures in the same way, these measures are not always comparable with those used by other companies. Key Performance Indicators Definition EBITDA – Operating Margin Operating profit before interest, taxes, depreciation and amortisation. Operating profit after depreciation and amortisation expressed as a percentage of net revenue for the period. Adjusted EBITDA Adjusted EBITDA excludes depreciation of capitalised development costs related to the technology platform, as well as non-recurring costs associated with organisational changes during the period. Operating Profit (EBIT) Operating profit before interest and taxes. Profit Margin Profit after financial items expressed as a percentage of net revenue for the period. Equity Ratio Equity in relation to total assets.
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Enquiries about this document should be sent to: Ole Morten Settevik olemorten@nordinsuretechgroup.com