Page 1

Profoto Holding AB ( publ ) Interim Report January 1 - September 30 , 2021 Profoto Financial summary July - September 2021 • Net sales increased to SEK 189m ( 126 ) , an increase of 50.4 percent . Adjusted for currency effects , net sales increased by 52.8 percent . • EBIT amounted to SEK 58m ( -48 ) and the EBIT margin to 30.4 percent ( -38.0 ) . ● Profit for the period increased to SEK 45m ( -39 ) . • Cash flow from operating activities totaled SEK 43m ( 35 ) . Earnings per share ( before and after dilution ) ² amounted to SEK 1.11 ( -0.99 ) . Adjusted EBIT¹ improved to SEK 58m ( 24 ) . No adjustments were made in the quarter . Adjustments for the third quarter of 2020 related to government grants ( SEK -3m ) , impairment of inventories ( SEK 48m ) , and impairment of non - current assets ( SEK 27m ) . Adjusted EBIT margin'for the quarter was 30.4 percent ( 18.9 ) . Financial summary January - September 2021 Net sales increased to SEK 514m ( 355 ) , an increase of 44.9 percent . Adjusted for currency effects , net sales increased by 54.3 percent . • EBIT amounted to SEK 133m ( -58 ) and the EBIT margin to 25.9 percent ( -16.4 ) . Adjusted EBIT¹ improved to SEK 158m ( 8 ) . Adjustments for the period related to IPO expenses of SEK 25m . Adjustments for the third quarter of 2020 related to government grants ( SEK -9m ) , impairment of inventories ( SEK 48m ) , and impairment of fixed assets ( SEK 27m ) . Adjusted EBIT margin¹ for the period was 30.7 percent ( 2.2 ) . ● • Profit for the period increased to SEK 98m ( -50 ) . • Cash flow from operating activities totaled SEK 139m ( 79 ) . Earnings per share ( before and after dilution ) ² amounted to SEK 2.45 ( -1.25 ) . Significant events July - September 2021 • The Parent Company Profoto Holding AB ( publ ) was listed on Nasdaq Stockholm's Mid - cap list with its first trading day on July 1 , 2021 . • On July 5 , 2021 , the former Parent Company Profoto Invest AB transferred all remaining shares in Profoto Holding AB ( publ ) , which were not sold at the listing , to the owners of Profoto Invest AB . • Product launch of the B10X and B10X plus , an upgrade to the B10 , which is an off - camera flash that can be used for both still photography and video . 1 ) For information and explanations regarding alternative performance measures , see pages 19-20 . 2 ) Calculated based on 40,000,000 ordinary shares before and after dilution ( retroactive adjustment due to share split of periods prior to the second quarter of 2021 ) . This is a translation of the original Swedish interim report . In the event of a difference between the English translation and the Swedish original , the Swedish interim report shall prevail . Interim Report January 1 - September 30 , 2021 Q3 Net sales SEK 189m Q3 2021 ( SEK 126m ) EBIT SEK 58m Q3 2021 ( Adjusted EBIT SEK 24m Q3 2020 ) 1 EBIT margin 30 % Q3 2021 ( Adjusted EBIT margin 19 % Q3 2020 )