Interim report
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Nosa Plugs AB (publ) www.nosaplugs.com Q2 1 April – 30 June 2026 Interim Report
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www.nosaplugs.com Nosa Plugs AB (publ) 2 Interim Report Q2 2026 1 January – 30 June 2026 • Net sales amounted to TSEK 17,034 (9,106). • Sales growth was 87% • EBITDA amounted to TSEK -602 (-1,932) • Operating profit amounted to TSEK -3,953 (-3,199) • Earnings per share amounted to SEK -0.01 (-0.02) • Cash flow from operating activities amounted to TSEK -272 (-2,356) • Cash and cash equivalents amounted to TSEK 16,091 (33,638) TSEK 2026 Apr-Jun 2025 Apr-Jun 2026 Jan-Jun 2025 Jan-Jun 2025 Jan-Dec Net sales 8,843 4,873 17,034 9,106 23,907 Sales growth 81% 17% 87% 30% 49% Operating profit -1,921 -1,879 -3,953 -3,199 -8,309 Operating profit before depreciation (EBITDA) -271 -1,255 -602 -1,932 -4,395 Earnings per share, SEK 0.00 -0.01 -0.01 -0.02 -0.03 Cash flow from operating activities -177 -3,204 -272 -2,356 -6,395 Cash and cash equivalents 16,091 33,638 16,091 33,638 17,298 Financial Highlights 1 April – 30 June 2026 • Net sales amounted to TSEK 8,843 (4,873). • Sales growth was 81% • EBITDA amounted to TSEK -271 (-1,255) • Operating profit amounted to TSEK -1,921 (-1,879) • Earnings per share amounted to SEK 0.00 (-0.01) • Cash flow from operating activities amounted to TSEK -177 (-3,204) • Cash and cash equivalents amounted to TSEK 16,091 (33,638)
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www.nosaplugs.com Nosa Plugs AB (publ) 3 Interim Report Q2 2026 81% 87% Revenue growth Revenue growth Gross margin Gross margin EBITDA EBITDA 64% 64% -271 TSEK -602 TSEK Quarter Significant events during the period • NOSA expanded its presence in the French pharmacy market through the launch of its full consumer product portfolio in partnership with Phoenix OCP SAS. • NOSA strengthened its presence in the Norwegian pharmacy market through a partnership with Norsk Medisinaldepot (NMD). As a result, Nozoil will be launched through the Vitusapotek and Ditt Apotek pharmacy chains and will be available in approximately 400 pharmacies from September 2026. • NOSA’s subsidiary NoseOption AB was awarded a development grant from Vinnova to support the continued development of the NOSA Cerevia technology platform. The grant strengthens the Company’s ongoing development within innovative drug delivery. • NOSA established a presence in the pharmacy markets in the Netherlands and Belgium through a partnership with OTC Health & Beauty. The initial order, valued at approximately SEK 1.4 million, relates to the launch of Nozoil and Odor Control in the Kruidvat pharmacy chain, with distribution to approximately 1,300 stores across the Benelux region. Significant events after the end of the period • NOSA entered into an exclusive distribution agreement with MetroMed covering five markets in the Middle East, with initial and planned orders totaling approximately SEK 1.3 million. YTD Net sales Net sales B2B 56% B2B 52% B2C 44% B2C 48%
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www.nosaplugs.com Nosa Plugs AB (publ) 4 Interim Report Q2 2026 CEO statement We continued the year with a second quarter in which both net sales and the gross margin improved further. EBITDA also improved, despite significant non-recurring costs related to the technical dossier for Nozoil. Adjusted for these costs, EBITDA for the second quarter amounted to approximately SEK 0.6 million, corresponding to a margin of 7 percent. This compares with the second quarter of 2025, when the EBITDA margin was -25 percent. Nozoil and Odor Control continue to perform strongly in our established markets, while Odor Control’s positive growth trend in our key markets remains intact. This development is largely driven by successful marketing campaigns in the Nordic region and Germany. During the third quarter, we are accelerating the concept further and rolling it out across additional markets in Europe and North America. During the quarter, we also made significant progress in the rollout of Nozoil in the European pharmacy market, with two major launches. In Norway, we launched Nozoil during the summer together with our distributor NMD through Vitusapotek and Ditt Apotek, giving us broad coverage of the Norwegian pharmacy market. In response to strong initial demand, NMD also brought the launch forward and placed an additional order even before the launch commenced. We also entered into an agreement with our new distributor, OTC Health and Beauty, covering Belgium and the Netherlands. At the end of September, Nozoil will be launched in more than 1,000 Kruidvat stores, the region’s largest pharmacy chain. These two launches, combined with our increased penetration of the German market, are expected to account for a significant share of Nozoil’s growth during the year. In parallel, Cerevia was a key focus during the quarter. Together with leading experts, we developed a proprietary pharmaceutical database—a so-called Drug Screener—that enables us to identify and filter molecules suitable for manufacturing using Cerevia. Of the approximately 11,000 pharmaceutical products included in the database, around 3,000 are considered potentially compatible with the technology. The tool has already enabled us to identify several new molecules with commercial potential, thereby expanding both the range of possible applications for Cerevia and the pool of potential collaboration partners. In June, I attended the BIO International Convention in the United States, one of the world’s largest meeting places for the pharmaceutical industry. During the convention, we held several productive meetings with pharmaceutical companies and other potential partners. Overall, we are currently engaged in two advanced discussions concerning Cerevia, in addition to several expressions of interest where formal processes have yet to commence. At the same time, we have decided to pause a previous dialogue following organisational changes at the counterparty. Our focus remains on the processes that we believe offer the greatest potential to create commercial value. We are now entering an eventful third quarter, during which several of the year’s most important milestones are expected to be achieved. We also enter the period with a strong order book. NOSA performs at its best during the colder months of the year—and given the developments ahead, we can simply conclude: Winter is coming!
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www.nosaplugs.com Nosa Plugs AB (publ) 5 Interim Report Q2 2026 Our business NOSA Plugs AB (publ) is a Swedish medical technology company headquartered in Stockholm, Sweden. Development of the Company’s technology platform began in 2006, and the Company was founded in 2011. Its operations are based on a proprietary technology platform that enables the slow release of a wide range of substances. The platform is built on a medical-grade polymer which, through its design and the incorporation of selected substances, is engineered to provide specific functional properties. The technology was initially applied to products designed to eliminate unpleasant odours (Odor Control). Since then, the product portfolio has expanded to include products that provide protection against viruses and bacteria (Microbial Control) as well as smell training kits for individuals seeking to improve their sense of smell (Smell Training). The Company continues to develop its technology platform with the objective of creating the next generation of drug delivery systems under the Cerevia platform. All products are either protected by patents or are subject to pending patent applications. NOSA’s products are primarily marketed to healthcare providers, including hospitals, ambulance services, police authorities, elderly care and nursing homes, as well as to consumers through pharmacies. Product portfolio The current product portfolio comprises five product categories: nasal products for protection against unpleasant odours, a smell training kit for individuals with an impaired sense of smell, nasal products that reduce exposure to viruses and bacteria in the nasal mucosa, a nasal oil for individuals with dry nasal mucosa, and Cerevia, a drug delivery platform. Odor control – nasal protection against bad odor Odor Control is a discreet nasal plug designed for use in environments with unpleasant odours. The menthol oil integrated into the product’s lamellar structure is gradually released, stimulating the olfactory receptors in the nose without affecting normal breathing. This effectively masks unpleasant odours, contributing to a significantly improved working environment for individuals exposed to malodorous conditions. Odor Control can be used for up to eight hours before being disposed of after use. The product is intended for single use. The product is free from allergens and has undergone toxicological testing. It is neither a medical device nor personal protective equipment (PPE) as defined under applicable regulations and is therefore not CE marked. Smell training – smell training kit for people with reduced sense of smell Smell Training is a medical device intended for the treatment of individuals with an impaired sense of smell. The product consists of a kit containing ten scented nasal plugs that the user applies according to a structured training programme, inhaling through the plugs four times daily. The treatment programme lasts for two months, which is shorter than previously established smell training methods. To complement the treatment, a dedicated mobile application guides users through the training programme to maximise treatment effectiveness. The app also offers calendar synchronisation, enabling users to receive reminders and track their progress. The product was developed in collaboration with leading researchers in olfaction and sensory perception. In June 2024, results from a new clinical study conducted by the Karolinska Institute, in collaboration with Lund University Hospital and the Monell Chemical Senses Center (USA), demonstrated that Smell Training is more effective than the current standard treatment for olfactory dysfunction (hyposmia). Smell Training is classified as a Class I medical device in Europe. The product has undergone clinical evaluation and independent laboratory testing and is also registered for sale in the United Kingdom. Microbial control – reduces exposure to viruses and bacteria in inhaled air For a virus to infect the body and spread, it must first enter a host cell. Different viruses use different mechanisms to gain entry into cells, with common routes including the NOSA Plugs AB is a Swedish medical technology company and a global leader in intranasal breathing products marketed under the NOSA brand.
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www.nosaplugs.com Nosa Plugs AB (publ) 6 Interim Report Q2 2026 mucous membranes of the mouth and nose. Coronaviruses have been shown to primarily infect through the nasal mucosa and upper respiratory tract, highlighting the importance of protecting the nasal cavity. Microbial Control inactivates viruses and kills bacteria upon contact with the product, thereby reducing microbial exposure to the nasal mucosa. The patented product design forces inhaled air to pass through the device, where viruses and bacteria come into contact with the lamellar structure and are inactivated, rather than being physically filtered as with a face mask. This is made possible by a unique incorporation of ceramic-encapsulated silver ions that are integrated into the lamellar structure. The product does not release silver ions. Microbial Control is easy to breathe through, discreet and comfortable to wear. The product has been tested by independent laboratories against a range of common respiratory viruses, including coronaviruses, rhinoviruses, noroviruses and adenoviruses. It has also demonstrated efficacy against bacterial strains including Staphylococcus aureus (including MRSA), Streptococcus pneumoniae (pneumococci) and Escherichia coli (E. coli). All virus and bacteria testing has been conducted by independent laboratories. Microbial Control is classified as a Class I medical device. NOSA Nozoil Nozoil is one of the world’s best-selling emollient nasal sprays for individuals suffering from dry or irritated nasal mucosa. The product contains sesame oil, which helps lubricate and protect the nasal passages against dryness caused by, for example, the common cold, dry air or the use of decongestant nasal sprays. NOSA markets the product in two variants: NOSA Nozoil Original and NOSA Nozoil Menthol. Nozoil is classified as a Class I medical device in Europe. Cerevia Cerevia is NOSA’s proprietary platform for intranasal drug delivery, developed to enable the controlled and sustained release of pharmaceuticals through the nasal cavity. The platform is based on the Company’s proprietary polymer technology and can be adapted for a broad range of active pharmaceutical ingredients and therapeutic applications. NOSA is currently pursuing partnerships with pharmaceutical companies to support the continued development and commercialization of the platform.
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www.nosaplugs.com Nosa Plugs AB (publ) 7 Interim Report Q2 2026 Financial overview Group revenue and earnings Net sales for the period April–June amounted to TSEK 8,843 (4,873), representing an increase of 81%, attributable to both organic growth and growth through acquisitions. For the period January–June, net sales amounted to TSEK 17,034 (9,106), corresponding to an increase of 87%. The increase was driven by higher sales to both new and existing customers. Since the broader market launch of NOSA Plugs in 2017, sales have increased consistently. The only exception was 2021, when sales declined as a result of the pandemic and the widespread use of face masks in healthcare settings and public environments worldwide. Cost of goods sold for the period April–June amounted to TSEK -3,140 (-1,396), and to TSEK -6,173 (-2,512) for the period January–June. The gross margin for the quarter was 64% (71%), while the gross margin for the January– June period was 64% (72%). The lower gross margin is attributable to Pharmacure sourcing its products through distributors, whereas NoseOption manufactures its own products, resulting in higher margins. The gross margin on NoseOption’s products remained in line with previous years. Other external expenses for the period April– June amounted to TSEK -4,136 (-3,056), and to TSEK -8,109 (-5,245) for the period January–June. Expenses increased both during the quarter and year-to-date, primarily due to acquisition-related costs attributable to Pharmacure. Personnel expenses for the period April–June amounted to TSEK -1,843 (-1,673). The average number of employees during the period was 7 (5). Personnel expenses for the period January– June amounted to TSEK -3,287 (-3,100), while the average number of employees for the same period was 6 (5). The change in personnel expenses is attributable to a changed employee structure. At the end of the quarter, the number of employees amounted to 7 (6). Depreciation and amortization of tangible and intangible assets for the period April–June amounted to TSEK -1,650 (-624), and to TSEK -3,351 (-1,267) for the period January–June. The increase compared with the previous year is primarily attributable to the amortization of the excess value recognized in connection with the acquisition of Pharmacure. Operating profit/loss for the April–June period amounted to SEK –1,921 thousand (–1,879), and to SEK –3,953 thousand (–3,199) for the January– June period. The decline was attributable to amortisation of SEK 1,172 thousand for the quarter and SEK 2,343 thousand for the January–June period, relating to the excess value arising from the acquisition of Pharmacure. Excluding this amortisation, the operating result improved both compared with the corresponding quarter of the previous year and for the January–June period. This improvement was driven by increased sales combined with a stable cost base. The Company continues to pursue efficiency improvements and cost-saving measures with the aim of improving its operating result in the coming quarters. Net financial items for the period April–June amounted to TSEK 506 (-7), and to TSEK 541 (-16) for the period January–June. These primarily comprise interest income on cash deposits, interest expenses on borrowings from credit institutions, interest expenses related to lease liabilities and foreign exchange effects. Income tax for the period April–June amounted to TSEK 117 (-113), and to TSEK 323 (-113) for the period January–June. The tax expense consists of corporate income tax in the Group’s US subsidiary and deferred tax relating to the trademark recognized in connection with the acquisition of Pharmacure. Tax loss carryforwards within the Group amounted to SEK 151,738 thousand as of 31 December 2025 and had increased further as of the balance sheet date, 30 June 2026, due to additional losses incurred. The related tax benefit has not been recognised as a deferred tax asset in the balance sheet due to uncertainty regarding when the tax loss carryforwards will be utilised. Profit for the period April–June amounted to TSEK -1,298 (-1,999), corresponding to earnings per share of SEK 0.00 (-0.01). Profit for the period January–June amounted to TSEK -3,089 (-3,328), corresponding to earnings per share of SEK -0.01 (-0.02).
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www.nosaplugs.com Nosa Plugs AB (publ) 8 Interim Report Q2 2026 © Australian Bureau of Statistics, GeoNames, Geospatial Data Edit, Microsoft, Navinfo, Open Places, OpenStreetMap, Overture Maps Fundation, TomTom, Wikipedia, Zenrin Använder Bing 0,5% 20,5% Serie1 © Australian Bureau of Statistics, GeoNames, Geospatial Data Edit, Microsoft, Navinfo, Open Places, OpenStreetMap, Overture Maps Fundation, TomTom, Wikipedia, Zenrin Använder Bing 0,5% 20,5% Serie1 © Australian Bureau of Statistics, GeoNames, Geospatial Data Edit, Microsoft, Navinfo, Open Places, OpenStreetMap, Overture Maps Fundation, TomTom, Wikipedia, Zenrin Använder Bing 20,0% 3,0% 2,0% 2,0% 6,0% 4,5% 3,5% 2,5% 1,0% 1,5% 0,5% 1,5% 0,5% 1,0% 1,0% 16,0% 13,5% The Group’s financial position, cash flow and liquidity At the end of the reporting period, total assets amounted to TSEK 62,479, compared with TSEK 64,714 at the end of the previous financial year. The decrease in total assets is primarily attributable to depreciation and amortization of non-current assets. Cash and cash equivalents amounted to TSEK 16,091, compared with TSEK 17,298 at the end of the previous financial year. Increased sales, combined with a stable cost base, have contributed to continued stable cash flow. Revenue distribution rolling 12 months © Australian Bureau of Statistics, GeoNames, Geospatial Data Edit, Microsoft, Navinfo, Open Places, OpenStreetMap, Overture Maps Fundation, TomTom, Wikipedia, Zenrin Använder Bing 0,5% 20,5% Serie1 8,5% 9,0% Rest of world 1% Revenue distribution and financial position Cash flow from operating activities amounted to TSEK -177 (-3,204) for the period April–June and to TSEK -272 (-2,356) for the period January–June. Adjustments for items not affecting cash flow primarily relate to depreciation and amortization of non-current assets.
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www.nosaplugs.com Nosa Plugs AB (publ) 9 Interim Report Q2 2026 Cash flow from operating activities remained negative as a result of the Company’s continued focus on product development and commercialization. However, operating cash flow improved significantly compared with the corresponding periods of the previous year, with the acquisition of Pharmacure being a contributing factor. Cash flow from investing activities amounted to TSEK -235 (0) for the period April–June and to TSEK -460 (-194) for the period January–June. The investments relate to the development of the Company’s mobile application. Cash flow from financing activities amounted to TSEK -300 (32,183) for the period April– June and to TSEK -536 (31,983) for the period January–June. The positive cash flow from financing activities in the comparative period was primarily attributable to the capital raising completed during 2025. The item also includes repayments of borrowings from credit institutions and lease liabilities. The Parent Company Nosa Plugs AB primarily serves as the Group’s parent and holding company. Net sales consist of charges to subsidiaries for administrative services. Expenses are primarily attributable to costs associated with the Company’s listing on Nasdaq First North Growth Market. Net sales for the period January–June amounted to TSEK 300 (300) and relate to intra-group services that are eliminated upon consolidation.
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www.nosaplugs.com Nosa Plugs AB (publ) 10 Interim Report Q2 2026 The result is attributable in its entirety to the Parent Company’s shareholders. CONDENSED CONSOLIDATED INCOME STATEMENT TSEK 2026 Apr-Jun 2025 Apr-Jun 2026 Jan-Jun 2025 Jan-Jun 2025 Jan-Dec Operating income Net sales 8,843 4,873 17,034 9,106 23,907 Other operating income 67 0 144 0 215 8,910 4,873 17,178 9,106 24,122 Operating expenses Cost of goods sold -3,140 -1,396 -6,173 -2,512 -8,168 Other external costs -4,136 -3,056 -8,109 -5,245 -13,621 Personnel costs -1,843 -1,673 -3,287 -3,100 -6,237 Depreciation of tangible and intangi- ble non-current assets -1,650 -624 -3,351 -1,267 -3,914 Other operating expenses -62 -3 -211 -181 -491 -10,831 -6,752 -21,131 -12,305 -32,431 Operating profit -1,921 -1,879 -3,953 -3,199 -8,309 Financial items 506 -7 541 -16 99 Profit after financial items -1,415 -1,886 -3,412 -3,215 -8,210 Profit before tax -1,415 -1,886 -3,412 -3,215 -8,210 Tax on profit for the period 117 -113 323 -113 169 Profit for the period -1,298 -1,999 -3,089 -3,328 -8,041 Translation differences 41 -14 90 -53 -101 Total comprehensive income for the year -1,257 -2,013 -2,999 -3,381 -8,142 Earnings per share before/after dilution (SEK) 0.00 -0.01 -0.01 -0.02 -0.03
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www.nosaplugs.com Nosa Plugs AB (publ) 11 Interim Report Q2 2026 CONDENSED CONSOLIDATED FINANCIAL POSITION TSEK 2026 30 Jun 2025 30 Jun 2025 31 Dec Non-current assets Capitalized development costs 1,008 777 675 Patents 484 603 543 Trademark 19,528 0 21,842 Goodwill 9,303 0 9,303 Tangible assets 3,562 4,993 4,238 Right-of-use assets 0 0 0 Other long-term receivables 200 200 200 Total non-current assets 35,843 6,958 37,047 Current assets Merchandise 3,744 4,561 4,804 Trade receivables 5,390 2,774 4,189 Other receivables 1,411 1,416 1,376 Cash and cash equivalents 16,091 33,638 17,298 Total current assets 26,636 42,389 27,667 TOTAL ASSETS 62,479 49,347 64,714
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www.nosaplugs.com Nosa Plugs AB (publ) 12 Interim Report Q2 2026 TSEK 2026 30 Jun 2025 30 Jun 2025 31 Dec EQUITY AND LIABILITIES Equity Share capital 13,009 12,980 13,009 Other contributed capital 139,826 139,490 139,724 Translation reserve -36 -78 -126 Retained earnings including profit for the year -114,633 -106,832 -111,544 Total equity attributable to shareholders of the Parent Company 38,166 45,560 41,063 Non-current liabilities Deferred tax liability 4,023 0 4,505 Lease liabilities 1,422 83 0 Other liabilities 5,660 0 5,660 Total non-current liabilities 11,105 83 10,165 Current liabilities Liabilities to credit institutions 0 133 0 Bank overdraft 0 0 485 Lease liability 343 388 231 Trade payables 3,358 1,745 1,612 Other current liabilities 9,507 1,438 11,158 Total current liabilities 13,208 3,704 13,486 TOTAL EQUITY AND LIABILITIES 62,479 49,347 64,714 CONDENSED CONSOLIDATED FINANCIAL POSITION
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www.nosaplugs.com Nosa Plugs AB (publ) 13 Interim Report Q2 2026 TSEK 2026 Apr-Jun 2025 Apr-Jun 2026 Jan-Jun 2025 Jan-Jun 2025 Jan-Dec Opening equity 39,321 15,188 41,063 16,556 16,556 Total comprehensive income Profit for the period -1,298 -1,999 -3,089 -3,328 -8,041 Transactions with shareholders Share issue 0 34,600 0 34,600 34,600 Set-off issue 0 0 0 0 394 Issue costs/option costs 0 -2,251 0 -2,215 -2,386 Warrants, paid/returned premiums 102 0 102 0 41 Other comprehensive income Translation differences 41 -14 90 -53 -101 Closing equity 38,166 45,560 38,166 45,560 41,063 CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
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www.nosaplugs.com Nosa Plugs AB (publ) 14 Interim Report Q2 2026 CONDENSED CONSOLIDATED CASH FLOW STATEMENT TSEK 2026 Apr-Jun 2025 Apr-Jun 2026 Jan-Jun 2025 Jan-Jun 2025 Jan-Dec Profit after financial items -1,415 -1,886 -3,412 -3,215 -8,210 Adjustments for items not included in cash flow 1,656 665 3,380 1,323 4,001 Income tax paid -171 -125 -171 -125 -104 Cash flow from operating activities be- fore changes in working capital 70 -1,346 -203 -2,017 -4,313 Cash flow from changes in working capital -247 -1,858 -69 -339 -2,082 Cash flow from operating activities -177 -3,204 -272 -2,356 -6,395 Cash flow from investing activities -235 0 -460 -194 -12,398 Cash flow from financing activities -300 32,183 -536 31,983 31,965 Cash flow for the period -712 28,979 1,268 29,433 13,172 Cash and cash equivalents at beginning of period 16,768 4,714 17,298 4,314 4,314 Exchange differences in cash and cash equivalents 35 -55 61 -109 -188 Cash and cash equivalents at end of period 16,091 33,638 16,091 33,638 17,298
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www.nosaplugs.com Nosa Plugs AB (publ) 15 Interim Report Q2 2026 Definitions Operating profit Profit before tax and financial items. EBITDA Profit before tax, financial items and depreciation. Earnings per share before dilution Earnings per share before dilution is calculated by dividing profit after tax attributable to the Parent Company by the weighted average number of outstanding shares during the period. Earnings per share after dilution Earnings per share after dilution is calculated by dividing profit after tax attributable to the Parent Company’s shareholders, adjusted for shares that would be added if all potential shares giving rise to dilution were converted to shares, by the weighted average number of outstanding shares during the period. If the result is negative, dilution is not considered as it would improve earnings per share. Only option programs with an exercise price below the period’s average share price can lead to a dilution effect. Equity per share Equity at the end of the period divided by the number of shares at the end of the period. Equity ratio Equity as a percentage of total assets. Gross margin Net sales minus direct costs divided by net sales. CONSOLIDATED FINANCIAL KEY RATIOS TSEK 2026 Apr-Jun 2025 Apr-Jun 2026 Jan-Jun 2025 Jan-Jun 2025 Jan-Dec Net sales 8,843 4,873 17,034 9,106 23,907 Operating profit -1,921 -1,879 -3,953 -3,199 -8,309 Operating profit before deprecia- tion (EBITDA) -271 -1,255 -602 -1,932 -4,395 Profit after financial items -1,415 -1,886 -3,412 -3,215 -8,210 Equity 38,166 45,560 38,166 45,560 41,063 Earnings per share, SEK 0.00 -0.01 -0.01 -0.02 -0.03 Equity per share, SEK 0.1 0.2 0.1 0.2 0.2 Equity ratio (%) 61% 92% 61% 92% 63% Gross margin 64% 71% 64% 72% 66% Share price at balance sheet date, SEK 0.52 0.71 0.52 0.71 0.61 Cash flow from operating activi- ties -177 -3,204 -242 -2,356 -6,395 Average number of shares 260,172,581 216,699,083 260,712,581 213,428,810 236,958,277 Number of shares at end of period 260,172,581 259,609,439 260,172,581 259,609,439 260,172,581 Average number of employees 7 5 6 5 5 Number of employees at end of period 7 6 7 6 5
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www.nosaplugs.com Nosa Plugs AB (publ) 16 Interim Report Q2 2026 TSEK 2026 Apr-Jun 2025 Apr-Jun 2026 Jan-Jun 2025 Jan-Jun 2025 Jan-Dec Net sales B2B 4,964 3,929 8,897 7,255 14,696 B2C 3,879 944 8,137 1,851 9,211 Total net sales 8,843 4,873 17,034 9,106 23,907 REVENUE SPLIT CONDENSED PARENT COMPANY INCOME STATEMENT In the Parent Company there are no items recognized in other comprehensive income; therefore, total comprehensive income corresponds to profit for the year. TSEK 2026 Apr-Jun 2025 Apr-Jun 2026 Jan-Jun 2025 Jan-Jun 2025 Jan-Dec Operating income Net sales 150 150 300 300 600 150 150 300 300 600 Operating expenses Other external costs -449 -392 -911 -740 -2,127 Personnel costs -79 -79 -79 -79 -158 -528 -471 -990 -819 -2,285 Operating profit -378 -321 -990 -819 -2,285 Financial items 72 0 72 0 -9,844 Profit after financial items -306 -321 -618 -519 -11,529 Tax on profit for the period 0 0 0 0 0 Profit for the period -306 -321 -618 -519 -11,529
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www.nosaplugs.com Nosa Plugs AB (publ) 17 Interim Report Q2 2026 CONDENSED PARENT COMPANY BALANCE SHEET TSEK 2026 30 Jun 2025 30 Jun 2025 31 Dec ASSETS Non-current assets Shares in group companies 75,247 75,247 75,247 Total non-current assets 75,247 75,247 75,247 Current assets Receivables from group companies 17,569 7,213 16,569 Other receivables 259 227 113 Cash and bank 10,818 32,573 12,658 Total current assets 28,646 40,013 29,340 TOTAL ASSETS 103,893 115,260 104,587 Equity and liabilities Equity Restricted equity Share capital 13,009 12,980 13,009 Unrestricted equity Share premium reserve 626,288 626,095 626,288 Retained earnings -534,981 -523,595 -523,554 Profit for the year -619 -519 11,529 Total equity 103,697 114,961 104,214 Current liabilities Trade payables 18 124 198 Other current liabilities 178 175 175 Total current liabilities 196 299 373 TOTAL EQUITY AND LIABILITIES 103,893 115,260 104,587
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www.nosaplugs.com Nosa Plugs AB (publ) 18 Interim Report Q2 2026 Accounting and valuation principles and other information General information Nosa Plugs AB (publ), corporate registration no. 556959-2867, was registered on 22 January 2014. The company is a limited liability company and its operations are governed by the Swedish Companies Act (2005:551). The company is domiciled in the Municipality of Stockholm. The company’s share is traded on Nasdaq First North Growth Market under the short name Nosa. This interim report comprises the Swedish Parent Company Nosa Plugs AB (publ) and the wholly owned subsidiaries NoseOption AB, Pharmacure Health Care International AB and NoseOption Inc (USA). In this report, Nosa Plugs AB (publ) is referred to either by its full name or as the Parent Company, and the Nosa Plugs Group is referred to as Nosa or the Group. All amounts are expressed in TSEK unless otherwise stated. Principles for the preparation of the interim report The Group applies the Swedish Annual Accounts Act and International Financial Reporting Standards (IFRS) as adopted by the EU, as well as RFR 1 Supplementary accounting rules for groups when preparing financial statements. The Parent Company applies the Swedish Annual Accounts Act and RFR 2 Accounting for legal entities when preparing financial statements. This year- end report has been prepared in accordance with IAS 34 Interim Financial Reporting. For detailed information about the company’s accounting principles, reference is made to the most recently published annual report. Changes in significant accounting principles A number of new standards and amendments to standards enter into force for financial years beginning on 1 January 2026. None of these are assessed to have any impact on the Group’s financial statements. Material risks and uncertainties A number of different factors may affect Nosa Plugs’ results and operations. Many of these can be managed through internal routines, while some are affected by external factors. There are risks and uncertainties for Nosa related to distribution and supplier dependence, incomplete patent protection for newly developed products, supply of raw materials, key persons/employees, economic development, currency fluctuations, financing and future capital requirements, etc. The Group’s management and Board of Directors work actively to minimize these risks. Unrest in the world may entail longer delivery times, increased costs, shortages of raw materials and higher interest rates. The Board assesses that the material uncertainties linked to the above are not of such a nature and extent that the company’s ability to continue operations will be affected in the foreseeable future. The company’s ability to meet future liquidity needs depends on sales success and profitability. There is no guarantee that the company will be able to obtain necessary liquidity if required. The Board assesses that the company has sufficient cash and cash equivalents for the coming 12-month period. Segment The Group’s sales occur primarily within Europe and the USA. The products are intended for the same area of use for customers. Nosa reports its operations as one operating segment since sales as a whole are reported to, and followed up by, the chief operating decision maker. Related party transactions The Group has not carried out any related party transactions during the reporting period other than customary salaries and remuneration to the Board of Directors and executive management. Share capital Share capital in Nosa Plugs AB amounted to SEK 13,008,629 at the end of the reporting period and the number of shares amounted to 260,172,581, corresponding to a quota value of SEK 0.05 per share. The limits in the articles of association for share capital are at least SEK 5,000,000 and at most SEK 20,000,000 and the number of shares shall be at least 100,000,000 and at most 400,000,000.
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www.nosaplugs.com Nosa Plugs AB (publ) 19 Interim Report Q2 2026 Share warrants As of 30 June 2026, Nosa Plugs AB had three outstanding share warrant programmes. Nosa Plugs AB Warrants series 2024/2029 The Annual General Meeting resolved on 3 May 2024 to issue up to 2,587,500 warrants within the framework of an incentive program for the company’s employees and certain consultants, of which a total of 1,842,500 warrants were subscribed for and 1,342,500 warrants remain outstanding after 500,000 repurchased warrants were cancelled according to a resolution at the Extraordinary General Meeting on 23 October 2025. For each acquired warrant, market-based consideration has been paid calculated according to Black & Scholes. Each warrant entitles the holder to subscribe for one new share at a price of SEK 1.63 during the period 1 July 2027 – 30 June 2029. Upon full exercise of the outstanding warrants, share capital may increase by at most SEK 67,125. Nosa Plugs AB Warrants series 2025/2030 The Extraordinary General Meeting on 23 October 2025 resolved to issue up to 2,000,000 warrants within the framework of a new incentive program for the company’s senior executives, key employees and certain consultants, which in its entirety replaced the incentive program adopted at the Annual General Meeting 2025. A total of 1,150,000 warrants have been subscribed for and allocated. Each warrant in the program entitles the holder to subscribe for one new share in the company at a subscription price corresponding to SEK 1.685 per share. Subscription of shares with support of the warrants may take place during the period from 1 January 2029 up to and including 31 October 2030. For each acquired warrant, market-based consideration has been paid calculated according to Black & Scholes. Upon full exercise of the subscribed and allocated warrants in the new program, share capital may increase by at most SEK 57,500. Warrants series 2026/2031 At the Annual General Meeting held on 8 May 2026, it was resolved to issue up to 3,400,000 share warrants under an incentive programme for members of the Board of Directors, key employees and certain consultants. A total of 2,800,000 share warrants were subscribed for, while 600,000 share warrants remain available for future allocation. For each share warrant acquired, the participant paid market value determined in accordance with the Black–Scholes valuation model. Each share warrant entitles the holder to subscribe for one new share at a subscription price of SEK 1.719 during the period from 1 October 2029 to 30 June 2031. Upon full exercise of the outstanding share warrants, the share capital may increase by a maximum of SEK 140,000. If all share warrants under the three outstanding warrant programmes are fully exercised for subscription of new shares in Nosa Plugs in accordance with the terms and conditions of the programmes, the resulting dilution effect will amount to approximately 2.2%. Other than the warrant programmes described above, there are currently no outstanding share warrants, convertible instruments or other financial instruments that may entitle the holder to subscribe for new shares or otherwise affect the Company’s share capital. Auditor’s review of the interim report This report has not been subject to review by the company’s auditors. Financial calendar • Quarterly report Q3 – published 6 November 2026 • Full-year report 2026 – to be published on 13 February 2027 Financial reports are available on the company’s website www.nosaplugs.com on the same day they are published.
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20 www.nosaplugs.com Nosa Plugs AB (publ) Interim Report Q2 2026 Nosa Plugs AB Surbrunnsgatan 42 113 48 Stockholm www.nosaplugs.com CEO: ir@nosaplugs.com Company information and contacts FNCA Sweden AB (certified advisor) Box 5855 102 40 Stockholm Karin Nilsson CFO Karin.nilsson@nosaplugs.com Adrian Liljefors CEO
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21 www.nosaplugs.com Nosa Plugs AB (publ) Interim Report Q2 2026 Per Mattsson Board member Dan Josefsberg Chairman of the Board Adrian Liljefors Chief Executive Officer Johan Prom Board member Anders Håkansson Board member Dan Magnell Board member Tomas Ludvigsson Board member The undersigned certify that the year-end report provides a fair overview of the Parent Company’s and the Group’s operations, financial position and results, and describes material risks and uncertainties that the Parent Company and the companies included in the Group face. Assurance Stockholm, 21 augusti 2026