Interim report
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SenzaGen AB • January-September 2026 Interim Report • 1/ 17 JANUARY-SEPTEMBER 2026 INTERIM REPORT Q3 Increased revenue and efficiency deliver a profitable quarter; acquisition expands future commercial opportunities “SenzaGen continued to grow and reported its first positive quarterly operating profit (EBIT) of SEK 1.1 million in the third quarter. EBITDA was positive both for the quarter and for the first nine months of the year, reflecting the scalability of our business model and disciplined execution. Following the end of the reporting period, we entered into an agreement to acquire Alcyomics, significantly expanding our commercial potential into a new and growing area of drug development where the shift toward non-animal methods is accelerating. In its most recent financial year, Alcyomics reported approximately SEK 19.5 million in revenue with an EBITDA margin of approximately 24 percent.* The acquisition accelerates the execution of our 2030 Growth Plan and our progress toward long-term profitable growth and increased shareholder value.” Peter Nählstedt, President and CEO Significant events during the third quarter • There are no significant events to report. Significant events after the end of the period • SenzaGen entered into an agreement to acquire Alcyomics, a leading and profitable UK provider of non-animal immunotoxicology testing for drug development, including biological anti- cancer drugs. The acquisition is expected to accelerate the Group’s growth and profitability. • The Group’s subsidiary VitroScreen received an order worth SEK 2.8 million for efficacy testing from an existing customer, a leading global producer of active ingredients for the health and beauty industry. 2026 2025 Change 2026 2025 Change 2025 SEK M Jul-Sep Jul-Sep % Jan-Sep Jan-Sep % Jan-Dec Revenue 16.3 15.2 7 46.5 42.4 10 58.0 GARD® 11.0 10.5 5 32.5 29.5 10 41.9 Gross margin, % 77 66 11 pts 71 68 3 pts 65 EBITDA 3.2 0.9 3.3 -2.0 -8.8 EBIT 1.1 -1.0 -3.1 -7.6 -11.6 Earnings/loss per share, SEK 0.04 -0.02 -0.09 -0.24 -0.39 Cash and cash equivalents 32.8 29.3 32.8 29.3 26.8 * UK GAAP.
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SenzaGen AB • January-September 2026 Interim Report • 2/ 17 Message from the CEO SenzaGen continued to grow and reported its first positive quarterly operating profit (EBIT) of SEK 1.1 million in the third quarter. EBITDA was positive both for the quarter and for the first nine months of the year, reflecting the scalability of our business model and disciplined execution. Strong and growing demand for our services With an exceptionally high gross margin of over 80 percent, the GARD® business performed well in the third quarter generating revenue of SEK 11.0 (10.5) million, representing growth of 5 percent compared with the same quarter last year (7 percent at constant exchange rates). Revenue was primarily derived from direct sales to customers in the chemicals, cosmetics and medical devices industries. A growing customer base combined with a high share of repeat orders underlines the actual and potential growth of the GARD® business. During the quarter, we welcomed 12 new customers, bringing the total number of new customers year-to-date to 41, compared with 34 at the same point last year. The share of sales from repeat customers was 90 percent (85%), which is a testament to our excellent customer support and to the long-term demand for our testing services. At the same time, we see clear signs that the turnaround efforts at VitroScreen are leading to increased order intake. After the end of the reporting period, the subsidiary received an order worth SEK 2.8 million for efficacy testing from a leading global producer of active ingredients for the health and beauty industry. The order, which follows the successful completion of previous projects in 2026, is a testament to the satisfaction of our customers and further strengthens our market position in an area of strategic importance to the Group. Our regulatory consulting business continued to deliver profitable growth, with strong demand from both existing and new customers. Continued focus on profitable growth An extraordinarily strong gross margin of 77 percent, driven by a favorable product and channel mix, combined with cost efficiency, contributed to a positive EBIT of SEK 1.1 million. EBITDA was positive both for the quarter and for the first nine months of the year, reflecting the scalability of our business model and disciplined execution. To provide further support for our long-term growth journey, we have appointed a COO who will lead the Group’s operations, focusing on efficiency, alignment and to rapidly realize synergies across our businesses. Acquisition opens up new commercial opportunities in drug development After the end of the reporting period, SenzaGen entered into an agreement to acquire UK-based Alcyomics Ltd., marking an important strategic step forward for the Group. The acquisition establishes a strong position for the Group in non-animal immunotoxicology testing for pharmaceuticals. This includes biological anti-cancer drugs, for which regulators, including the US Food and Drug Administration, have launched initiatives to promote non-animal testing. It also gives the Group access to complementary proprietary technology, an established customer base and new growth opportunities in global drug development. The transaction expands our serviceable addressable market from USD 0.5 billion to USD 0.6 billion, equivalent to approximately SEK 1 billion, and is expected to contribute to both accelerated growth and stronger long-term competitiveness. Alcyomics is a profitable company with 10 employees and specialist expertise in non-animal immunotoxicity testing of pharmaceuticals, including advanced biologics such as monoclonal antibodies, T-cell engagers and bispecific therapies, which play an increasingly important role in modern cancer treatment. This testing capability is an essential part of pre-clinical risk assessment, as advanced drugs can cause severe adverse immune reactions and testing them in animal models has proven unreliable. Alcyomics grew by 46 percent and generated revenue of approximately GBP 1.49 million (approximately SEK 19.5 million) in the most recent financial year, March 2025–February 2026, with an EBITDA margin of 24 percent.
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SenzaGen AB • January-September 2026 Interim Report • 3/ 17 Demand for the company's testing services is driven by the pharmaceutical industry's increasing adoption of non-animal test methods and the growing share of biological drugs, two structural market trends that are key drivers of the company's growth and profitability. Long-term growth opportunities During the quarter, we continued to pursue our strategic growth initiatives in medical devices and regulatory advancement. Our position in respiratory allergy testing was strengthened by the OECD's publication of a comprehensive review highlighting GARD®air as one of the few available methods. The publication provides an important foundation for regulators’ ongoing work in this area, which is still at an early stage. Our GARD®air database is now the most comprehensive collection of scientific research in the field. In parallel, we continued working on a ring trial, a key step toward ISO standardization for medical devices, while also continuing our dialogue on the broader regulatory use of GARD®skin Dose- Response within the OECD. The expansion of our offering to the pharmaceutical industry both strengthens our commercial platform in the near term and lays the foundation for the scale-up we are aiming for in the longer term. Together, these activities and the accelerated execution of our 2030 Growth Plan create a strong platform for long-term profitable growth. Peter Nählstedt, President and CEO
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SenzaGen AB • January-September 2026 Interim Report • 4/ 17 SenzaGen at a glance Business concept and vision SenzaGen is a fast-growing company operating in non-animal chemical testing. With groundbreaking innovations that better reflect human biology, SenzaGen works toward its vision to advance and protect human health while replacing animal testing. With its own GLP-approved laboratories in Sweden and Italy, SenzaGen helps companies assess the efficacy and toxicity of chemicals. At the core of the Company’s offering is the unique GARD® platform, which uses genomics and machine learning to generate a highly reliable basis for decision-making in the assessment of skin allergy. A market with great potential The non-animal toxicology and efficacy testing market is global and growing strongly. A paradigm shift is underway as companies around the world transition from animal to non-animal testing. SenzaGen estimates that its serviceable addressable market is approximately SEK 5.8 billion (USD 0.5 billion). Our market segments are cosmetics, chemicals, medical devices, pharmaceuticals, and nutrition & food additives. Business model The majority of the Company's sales are direct sales supplemented by a global partner network of CROs. Direct sales build long-term customer relationships while our partner network provides flexibility and scalability. SenzaGen’s customer base primarily comprises leading multinationals in Europe and North America. Our contribution to a more sustainable world SenzaGen helps leading companies ensure that products and production environments are safe while contributing to efforts to reduce the use of animal tests. Innovative non-animal offering SenzaGen provides non-animal testing and consulting to assess the toxicological safety and efficacy of chemicals. Our offering consists of proprietary tests and complementary regulatory tests. The GARD ® platform is the Group’s patent-protected technology for determining whether substances can cause allergic reactions on the skin or in the respiratory tract. GARD®skin is approved by the OECD as a standard test. Via its subsidiary VitroScreen, the Group offers pre- clinical efficacy testing based on human tissue models and spheroids that complements the toxi- cology portfolio. The proprietary VitroScreen ORA® platform enables flexible evaluation of the biological effects of substances tailored to customer needs. Via ToxHub, the Group provides specialized expertise in toxicological risk assessment and regulatory consulting with particular expertise in medical devices and pharmacology. 2030 Organic Growth Plan SenzaGen has a three-phase growth plan through 2030. The Company is currently in the break-even phase and is focused on four strategic priorities.
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SenzaGen AB • January-September 2026 Interim Report • 5/ 17 Revenue, earnings and investments Q3 2026 Consolidated revenue for the July–September 2026 period amounted to SEK 16.3 (15.2) million, a 7% increase. Growth at constant exchange rates was 9%. GARD® sales accounted for SEK 11.0 (10.5) million, corresponding to 5% growth. Growth for GARD® at constant exchange rates was 7%. Foreign exchange effects from the stronger Swedish krona (SEK) against the euro and dollar had a negative impact on revenue during the quarter. The majority of sales are in EUR and USD to companies outside Sweden, which means that the Company’s revenue and EBITDA are impacted by fluctuations in these currencies. Consolidated gross profit was SEK 12.5 (10.0) million. The gross margin was 77% (66%), primarily driven by a favorable product and channel mix. Total operating expenses for the quarter amounted to SEK 11.8 (11.2) million. Operating expenses include depreciation and amortization amounting to SEK 2.0 (2.0) million. Consolidated EBITDA amounted to SEK 3.2 (0.9) million. Consolidated EBIT amounted to SEK 1.1 (-1.0) million. The improvement in earnings is due to increased sales, a strong gross margin and cost efficiency. See Note 5 for reconciliation between EBITDA and EBIT. SenzaGen capitalizes new development expenditure and recognizes patents in the balance sheet on an ongoing basis. Total investments in intangible assets for the quarter were SEK 0.4 (0.5) million. January–September 2026 Consolidated revenue for the January-June 2026 period amounted to SEK 46.5 (42.4) million, a 10% year-on-year increase. Growth at constant exchange rates was 12%. GARD® sales increased by 10% to SEK 32.5 (29.5) million. Growth for GARD® at constant exchange rates was 12%. The majority of sales are in EUR and USD to companies outside Sweden, which means that the Company’s revenue and earnings are impacted by fluctuations in these currencies. Gross profit was SEK 33.0 (29.0) million, corresponding to a gross margin of 71% (68%). Total operating expenses for the period amounted to SEK 37.5 (37.0) million. Operating expenses include depreciation and amortization amounting to SEK 6.3 (5.6) million. Consolidated EBITDA improved to SEK 3.3 (-2.0) million. Consolidated EBIT amounted to SEK -3.1 (-7.6) million. See note 5 for reconciliation between EBITDA and EBIT. SenzaGen capitalizes new development expenditure and recognizes patents in the balance sheet on an ongoing basis. Total investments in intangible assets for the period were SEK 1.4 (1.8) million. Capitalized expenditure for in-house development projects totaled SEK 0.2 (0.9) thousand.
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SenzaGen AB • January-September 2026 Interim Report • 6/ 17 Funding The Group’s cash and cash equivalents at the end of the period totaled SEK 32.8 (29.3) million. Net cash from operating activities for the January– September period amounted to SEK -2.8 (-7.8) million. Net cash from operating activities for the third quarter amounted to SEK -0.2 (-3.0) million. Total net cash flow for the period amounted to SEK 5.9 (-10.2) million. Total net cash flow for the third quarter amounted to SEK -2.7 (-5.1) million. Parent Company The Parent Company’s revenue for the January– September 2026 period totaled SEK 32.5 (29.5) million. Profit before tax was SEK 0.2 (-4.8) million. EBIT amounted to SEK -0.5 (-5.0) million. The Parent Company’s net investments in both property, plant and equipment and intangible assets for the period amounted to SEK 1.6 (2.0) million, and its total cash flow was SEK 6.6 (-13.5) million. For further information, see the disclosures for the Group. Other information Group SenzaGen AB (publ) (reg. no. 556821-9207), based in Lund, is the parent company of subsidiary SenzaGen North America Inc, based in North Carolina, USA (reg. no. C3870650), subsidiary VitroScreen s.r.l. (reg. no. MI-1653696) based in Milan, Italy, and subsidiary ToxHub s.r.l. (reg. no. MI-2690194) based in Rome, Italy. Information about risks and uncertainties SenzaGen’s business is exposed to several risks, including both operational and financial risks. The operational risks mainly comprise uncertainty concerning product development, supplier agreements, product liability and distribution. For a more detailed description of the risks and uncertainties to which SenzaGen is exposed, see the risk and sensitivity analysis in the 2025 Annual Report. Research and development SenzaGen invests in research and development to advance new high-tech and human-relevant methods for effective safety assessment. The foundation of the Group’s product development is the GARD ® technology platform, which is broadly applicable in all of the Company’s relevant industries and for difficult-to-test substances. The GARD® technology platform also has potential for use in several more testing and application domains. With the help of VitroScreen’s proprietary spheroid model VitroScreen ORA ®, the Group can also provide customers with tailored solutions for a specific test method, cell or organ type.
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SenzaGen AB • January-September 2026 Interim Report • 7/ 17 Employees At the end of the period, the Group had 34 (37) employees, 20 (22) of which were women and 14 (15) were men. At the end of the period, the Parent Company had 20 (23) employees, 12 (13) of which were women and 8 (10) were men. Nomination Committee for 2027 AGM The Nomination Committee for the 2027 Annual General Meeting (AGM) is comprised of Malin Lindstedt, representing herself, Matthias Durner, representing ShapeQ, Hans Westberg representing himself, and Carl Borrebaeck, Chairman of the Board. Shareholders who wish to send proposals to the Nomination Committee can send an email to ir@senzagen.com or send regular mail to: Valberedningen, SenzaGen AB, Medicon Village, Bldg 401, 223 81 Lund. To be considered, proposals should be received by the Nomination Committee no later than on 1 December 2026. 2027 AGM SenzaGen’s 2027 Annual General Meeting (AGM) will be held at Medicon Village in Lund on 12 May 2027 at 2 PM. Shareholders who wish to have an item deliberated on at the AGM may send a written request by email to ir@senzagen.com or by regular mail to: Styrelsen, SenzaGen AB, Medicon Village, Bldg 401, 223 81 Lund. Such requests must be received no later than seven weeks prior to the AGM to be eligible for inclusion in the meeting notice and, consequently, the AGM agenda. Review This report has not been reviewed by the Company’s auditors. Certified Adviser FNCA Sweden AB is the Company’s Certified Adviser on Nasdaq First North. Financial calendar 2026 Year-End Report 18 Feb 2027 Interim reports and annual reports are available on SenzaGen’s website. Glossary CRO: Contract research organization. A contract lab that provides research services. Efficacy testing: Testing conducted to assess whether products deliver the intended effect, such as whether a cosmetic provides the claimed level of moisturization or whether its mode of action is physical or pharmacological, which affects product classification. The results are used to support product development and marketing. ECVAM: European Centre for the Validation of Alternative Methods. Evaluates and validates alternative test methods in the EU that can replace animal testing for the safety assessment of chemicals. Recommends new test methods to the OECD. In vitro: Latin for “in glass”. In vitro tests are done in test tubes. Toxicology testing: Testing that aims to determine whether cosmetics, chemical products, and medical devices may be harmful, such as by causing skin allergy or irritation. The results ensure product compliance with regulatory safety requirements.
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SenzaGen AB • January-September 2026 Interim Report • 8/ 17 Lund, 5 November 2026 SenzaGen AB Peter Nählstedt President and CEO. Publication This information constitutes the type of information SenzaGen AB is required to publish under the EU Market Abuse Regulation. This information was released for publication by the contact person set out above on 5 November 2026 at 7:30 AM. For questions about this report, contact: Peter Nählstedt, President and CEO, SenzaGen AB Tel: +46 275 62 00 | Email: peter.nahlstedt@senzagen.com Marianne Olsson, VP Finance, SenzaGen AB Tel: +46 275 62 00 | Email: marianne.olsson@senzagen.com Address SenzaGen AB (publ) | Company registration number: 556821-9207 Bldg 401, Medicon Village, 223 81 LUND, SWEDEN Phone: +46 46-275 62 00 | info@Senzagen.se | www.senzagen.com SenzaGen is listed on Nasdaq First North. The Company is traded under the ticker symbol SENZA and ISIN code SE0010219626.
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SenzaGen AB • January-September 2026 Interim Report • 9/ 17 Condensed consolidated statement of comprehensive income 2026 2025 2026 2025 2025 (SEK thousand) Note Jul-Sep Jul-Sep Jan-Sep Jan-Sep Jan-Dec Revenue 2 16,277 15,245 46,502 42,395 57,974 Cost of goods sold -3,818 -5,226 -13,584 -13,443 -20,406 Gross profit/loss 12,459 10,019 32,919 28,952 37,568 Selling expenses -6,331 -6,826 -19,546 -19,183 -27,075 Administrative expenses -4,398 -3,237 -14,246 -13,199 -18,332 Research and development expenditure -914 -915 -2,875 -3,372 -3,659 Other operating income 543 169 1,498 428 1,383 Other operating expenses -208 -253 -832 -1,253 -1,510 Operating profit/loss 1,151 -1,043 -3,084 -7,627 -11,625 Financial income 3 435 449 953 947 1,037 Financial expenses -452 -204 -1,153 -758 -1,245 Profit/loss before tax 1,135 -797 -3,284 -7,438 -11,833 Tax 159 136 444 307 246 Profit/loss for the period 1,294 -661 -2,840 -7,131 -11,587 Profit or loss for the period is entirely attributable to the shareholders of the parent company. Other comprehensive income Other comprehensive income that may be reclassified to profit or loss Exchange differences on translation of foreign operations 747 -84 933 -490 -702 Total other comprehensive income for the period, net of tax 747 -84 933 -490 -702 Comprehensive income for the period, net of tax 2,042 -745 -1,906 -7,621 -12,289 Comprehensive income for the period is entirely attributable to the shareholders of the parent company.
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SenzaGen AB • January-September 2026 Interim Report • 10/ 17 2026 2025 2026 2025 2025 Per share data Jul-Sep Jul-Sep Jan-Sep Jan-Sep Jan-Dec Earnings per share (SEK) 0.04 -0.02 -0.09 -0.24 -0.39 Fully diluted earnings per share (SEK) 0.04 -0.02 -0.09 -0.24 -0.39 Equity per share (SEK) 0.35 0.36 0.35 0.36 0.38 Equity ratio (%) 74% 69% 74% 69% 67% Number of outstanding shares at end of period (thousands) 32,508 29,504 32,508 29,504 29,504 Average number of outstanding shares (thousands) 32,508 29,504 32,174 29,504 29,504 Share price at end of period (SEK) 4.61 6.00 4.61 6.00 6.08 Definitions of financial ratios Profit/loss for the period as a percentage of weighted average number of shares. Equity as a percentage of the number of shares at the end of the period. Equity ratio Equity as a percentage of total assets. Earnings per share Equity per share
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SenzaGen AB • January-September 2026 Interim Report • 11/ 17 Condensed consolidated statement of financial position 30 sep, 30 sep, 31 dec, (SEK thousand) Note 2026 2025 2025 ASSETS Non-current assets Goodwill 17 404 16 982 16 616 Intangible assets 29 598 30 591 29 883 Right-of-use assets 11 306 14 176 13 276 Property, plant and equipment 3 749 2 972 3 880 Deferred tax assets 127 72 66 Total non-current assets 62 184 64 792 63 721 Current assets Inventories 5 420 3 597 1 884 Trade receivables 13 216 11 585 13 887 Current tax receivable 1 636 1 855 1 077 Other receivables 1 129 2 670 2 546 Contract assets 4 663 3 663 3 586 Prepaid expenses and accrued income 4 427 2 201 2 665 Cash and cash equivalents 32 808 29 268 26 783 Total current assets 63 299 54 838 52 428 TOTAL ASSETS 125 483 119 631 116 149 EQUITY AND LIABILITIES Equity Share capital 1 625 1 475 1 475 Other contributed capital 310 879 295 083 294 895 Reserves 942 221 9 Retained earnings incl total comprehensive income -220 638 -214 123 -218 646 Total equity 92 809 82 657 77 733 Non-current liabilities Liabilities to credit institutions 4 165 5 648 5 393 Lease liabilities 7 352 10 796 9 778 Deferred tax liabilities 3 972 5 036 4 791 Total non-current liabilities 15 489 21 480 19 962 Current liabilities Liabilities to credit institutions 170 - - Contingent consideration 3 793 1 686 1 298 Lease liabilities 4 149 3 632 3 700 Contract liabilities 2 094 230 2 042 Trade payables 3 514 4 501 5 589 Provisions 1 648 1 543 1 604 Current tax liabilities 781 813 122 Other liabilities 2 038 1 945 2 200 Accrued expenses and deferred income 1 998 1 143 1 899 Total current liabilities 17 185 15 494 18 454 TOTAL EQUITY AND LIABILITIES 125 483 119 631 116 149
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SenzaGen AB • January-September 2026 Interim Report • 12/ 17 Consolidated statement of changes in equity (SEK thousand) Share Capital Other contributed capital Reservs Retained earnings Total equity Opening balance at 1/1/2025 1,475 294,895 711 -206,211 90,870 Profit/loss for the period -7,131 -7,131 Other comprehensive income for the period -490 -490 Comprehensive income for the period 0 0 -490 -7,131 -7,620 Transactions with the Group's shareholders Stock options 188 188 Other -781 -781 Total 0 188 0 -781 -593 Closing balance at 30/9/2025 1,475 295,083 221 -214,123 82,657 Opening balance at 1/1/2026 1,475 294,895 9 -218,646 77,733 Profit/loss for the period -2,840 -2,840 Other comprehensive income for the period 933 933 Comprehensive income for the period 0 0 933 -2,840 -1,906 Transactions with the Group's shareholders New share issue 150 17,333 17,483 Issue expenses -1,349 -1,349 Other 848 848 Total 150 15,984 0 848 16,982 Closing balance at 30/6/2026 1,625 310,879 942 -220,638 92,809
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SenzaGen AB • January-September 2026 Interim Report • 13/ 17 Consolidated cash flow statement 2026 2025 2026 2025 2025 (SEK thousand) Note Jul-Sep Jul-Sep Jan-Sep Jan-Sep Jan-Dec Cash flows from operating activities Operating loss 1,152 -1,043 -3,083 -7,627 -11,625 Adjustment for non-cash items 1,869 2,325 6,140 5,991 7,560 Income tax paid 102 - 100 - -336 Cash flow from operating activities before changes in working capital 3,123 1,282 3,157 -1,636 -4,401 Cash flow from changes in working capital Change in inventories -2,916 649 -3,502 110 1,803 Change in operating receivables 536 -2,323 97 -4,496 -3,900 Change in operating liabilities -982 -2,652 -2,533 -1,820 -325 Net cash from operating activities -240 -3,043 -2,781 -7,842 -6,823 Cash flows from investing activities Investments in intangible assets -403 -489 -1,425 -1,852 -2,475 Investments in property, plant and equipment. -523 -511 -415 -1,886 -3,012 Interest received 27 -102 545 396 587 Acquisition of subsidiaries, net of cash acquired 3 - - -545 - -547 Net cash from investing activities -899 -1,102 -1,840 -3,342 -5,447 Cash flows from financing activities New share issue - - 17,483 - - Transaction expenses attributable to new share issue - - -1,349 - - Proceeds from borrowings - -325 - 3,461 3,273 Interest paid -461 40 -1,153 -515 -810 Amortization of debts to credit institutions -153 - -1,263 - - Amortization of lease liabilities -992 -560 -3,176 -1,974 -2,850 Warrants - -61 - - - Net cash from financing activities -1,606 -906 10,542 973 -388 Net cash flow for the period -2,745 -5,052 5,921 -10,211 -12,658 Cash and cash equivalents at start of period 35,515 34,359 26,783 39,608 39,608 Exchange rate differences in cash and cash equivalents 38 -40 104 -129 -167 Cash and cash equivalents at end of period 32,808 29,268 32,808 29,268 26,783
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SenzaGen AB • January-September 2026 Interim Report • 14/ 17 Parent Company income statement 2026 2025 2025 (SEK thousand) Note Jan-Sep Jan-Sep Jan-Dec Revenue 32,460 29,544 41,858 Cost of goods sold -8,499 -9,097 -14,515 Gross profit/loss 23,961 20,447 27,343 Selling expenses -12,308 -12,737 -17,598 Administrative expenses -9,942 -8,980 -13,242 Research and development expenditure -2,900 -2,837 -3,613 Other operating income 1,440 410 864 Other operating expenses -792 -1,253 -1,510 Operating profit/loss -541 -4,950 -7,756 Interest income and similar items 893 472 826 Interest expenses and similar items -203 -293 -584 Profit/loss before tax 150 -4,771 -7,514 Tax expenses - - - Profit/loss for the period 150 -4,771 -7,514
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SenzaGen AB • January-September 2026 Interim Report • 15/ 17 Parent Company balance sheet 30 sep, 30 sep, 31 dec, (SEK thousand) Note 2026 2025 2025 ASSETS Intangible assets 10,635 10,735 10,625 Property, plant and quipment 2,396 943 2,057 Financial assets 48,497 48,095 48,642 Total non-current assets 61,528 59,773 61,324 Current assets Inventories 4,700 2,831 1,016 Trade receivables 10,021 7,256 9,861 Receivables from Group companies 3,380 5,330 2,303 Current tax receivables 1,066 1,066 533 Other receivables 787 732 1,098 Earned, not invoiced revenue 4,495 3,663 3,586 Prepaid expenses and accrued income 2,202 1,945 2,329 Cash and bank balances 31,023 24,950 24,445 Total current assets 57,674 47,773 45,171 TOTAL ASSETS 119,202 107,546 106,495 EQUITY AND LIABILITIES Equity 112,772 99,118 96,503 Provisions Contingent consideration 3 793 4,085 1,298 Total provisions 793 4,085 1,298 Current liabilities Trade payables 2,025 1,460 3,326 Current tax liabilities 781 813 - Liabilities to Group companies - - 324 Other liabilities 742 851 1,222 Invoiced, not earned revenue 80 230 2,042 Accrued expenses and deferred income 2,009 989 1,780 Total current liabilities 5,637 4,343 8,694 TOTAL EQUITY AND LIABILITIES 119,202 107,546 106,495
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SenzaGen AB • January-September 2026 Interim Report • 16/ 17 NOTES Note 1 Accounting policies This interim report is for the Swedish Parent Company SenzaGen AB (publ) ('SenzaGen:'), with company registration number 556821-9207, and its subsidiaries. SenzaGen operates in the medical devices sector. The Company develops and performs genomic in vitro tests, which means that the toxicological effects of various chemicals are tested not on animals but in test tubes. The Company has developed a technology platform used to study the effects of substances produced by companies in the pharmaceutical, cosmetics, and chemicals industries. Research and development is conducted at the Company’s headquarters in Lund, Sweden. The Parent Company is a Swedish limited liability company (aktiebolag) registered and headquartered in Lund, Sweden. The address of the headquarters is Medicon Village, Bldg 401, 223 81 Lund, Sweden. SenzaGen applies IFRS® Accounting Standards issued by the International Accounting Standards Board (IASB) and interpretations issued by the IFRS Interpretations Committee (IFRS IC), as adopted by the European Union (EU). The Group’s interim report has been prepared in accordance with IAS 34 Interim Financial Reporting and applicable provisions of the Swedish Annual Accounts Act (1995:1554) (ÅRL). The Parent Company applies the Swedish Annual Accounts Act and RFR 2 Accounting for Legal Entities. The same accounting and measurement policies have been applied as in the most recent annual report. All amounts in this report are stated in thousands of Swedish kronor (SEK thousand), unless otherwise stated. Rounding differences may occur. Note 2 – Revenue from contracts with customers Jan-Sep 2026 Jan-Sep 2025 Sweden 1,841 1,124 France 8,773 7,226 Italy 6,627 6,313 Rest of Europe 15,396 15,743 US 13,190 11,311 Rest of world 675 678 Total revenue from contracts with customers 46,502 42,395
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SenzaGen AB • January-September 2026 Interim Report • 17/ 17 Note 3 – Financial instruments Contingent consideration Contingent consideration classified as a financial liability is measured at fair value, with changes recognized as other operating income or other operating expenses. The measurement is therefore classified within Level 3 of the fair value hierarchy. Significant unobservable inputs consist of forecast operating profit. The fair value of contingent consideration has been calculated based on expectations regarding whether financial targets will be achieved for each contract. The estimated expected payment for contingent consideration classified as a financial liability will vary over time, depending in part on the extent to which the conditions for the contingent consideration are met and on movements in the euro against the Swedish krona. Note 4 – Events after the reporting period On 29 October 2026, SenzaGen entered into an agreement to acquire Alcyomics, a leading UK provider of non-animal immunotoxicology testing for drug development, including biological anti-cancer drugs. The acquisition is expected to accelerate the Group’s growth and profitability. On 2 November, SenzaGen announced that its subsidiary VitroScreen had received an order worth SEK 2.8 million for efficacy testing from an existing customer, a leading global producer of active ingredients for the health and beauty industry. Note 5 Reconclliation between reported EBITDA and EBIT. 2026 2025 Contingent consideration Jan-Sep Jan-Dec Opening balance 1,298 1,752 Paid -545 0 Change in fair value recognized in profit or loss 40 -454 Closing balance 793 1,298 Jul-Sep 2026 Jul-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 EBITDA 3,163 908 3,260 -2,046 Depreciation -999 -1,066 -3,314 -3,125 IFRS 16 depreciation -1,015 -885 -3,030 -2,456 EBIT 1,149 -1,043 -3,084 -7,627