Interim report
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www.solutioninternational.com Q2 2026 1 (18) Q2 2026
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Solution International AB (Publ) Summary of the Period Q2 2026 Group Multi-Y ear Overview (SEK) Q2 2026 Q2 2025 H1 2026 H1 2025 2025 Net Revenue 29 787 221 * 57 312 664 * 122 520 816 EBITDA 1 744 827 * 2 485 292 * 5 107 053 Profit After Financial Items -1 352 445 * -3 610 503 * -4 649 330 T otal Assets 71 061 411 * 71 061 411 * 64 473 285 Equity Ratio ( % ) -69 % * -69 % * -73 % Earnings Per Share -0,03 * -0,07 * -0,13 P are n t Multi-Y ear Overview (SEK) Q2 2026 Q2 2025 H1 2026 H1 2025 2025 Net Revenue 0 0 0 50 000 1 550 000 Profit After Financial Items -535 542 -5 541 720 -1 098 652 -6 398 370 -9 846 427 T otal Assets 168 144 673 8 075 803 168 144 673 8 075 803 168 452 192 Equity Ratio ( % ) 80 % 41 % 80 % 41 % 80 % Significant events during the period Received approval for continued listing on Spotlight Stock Market and published the listing memorandum. Expanded its children's feeding range with Kruidvat in the Netherlands Entered into a licensing cooperation with Studio 100 for toddler feeding products in Benelux. Reported e-commerce revenue up 154 percent year-to-date. Significant events after the period Resolved on a directed set-off share issue of approximately SEK 7.3 million to reduce debt and strengthen the balance sheet. * Comparative figures are not available due to a reverse acquisition (2025-09-11), in which Solution International Ltd became the parent company and Solution International Nordics AB (publ) the subsidiary. This has resulted in a new Group structure without historical comparative figures. 2 (18) Q2 2026
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Solution International AB (Publ) CEO’s Statement The second quarter of 2026 was characterised by continued commercial development and several concrete steps to strengthen Solution International Nordics AB’s position in our key markets. During the period, we continued to build on our established customer relationships, develop our product offering and make further progress within e-commerce and international distribution. An important event during the quarter was the Company receiving approval for continued listing on Spotlight Stock Market and publishing its listing memorandum. This marked the completion of a central part of the structural work that has characterised the business since the listing process began. It gives us better conditions to place an even clearer focus on the Group’s operational and commercial development going forward. On the commercial side, we continued to strengthen our presence in the Netherlands through an expanded product range with Kruidvat. The cooperation is important to us, and the broader product portfolio means that more of our products are reaching consumers through an already established and significant retail partner. During the quarter, we also entered into a licensing cooperation with Studio 100 for toddler feeding products in Benelux. The cooperation gives us the opportunity to combine our product development and distribution capabilities with some of the region’s well-known children’s brands, while also creating a platform for gradually broadening our licensed offering. Our e-commerce business also continued to develop strongly. During the period, we reported an increase in e-commerce revenue of 154 percent year- to-date. This development confirms the potential of our multi-channel strategy, where our established retail distribution is complemented by growing direct-to- consumer sales through digital marketplaces. We continue to see good opportunities to increase the importance of e-commerce for the Group over time. Alongside the commercial development, we have continued our work to improve efficiency across the organisation and strengthen our internal processes. AI- based solutions are increasingly being used within areas such as administration, logistics and financial processes. Our objective is to create a more scalable organisation where growth does not require a corresponding increase in the administrative cost base. During Q2 2026, Solution reached a net revenue of 29.8 million SEK The Group’s EBITDA for the period amounted to 1 744 827 SEK “ Q2 w as a q uarter in w hich several of the initiatives w e have b een w or k ing on for some time b egan to deliver tangi b le results . W e strengthened our position w ith e x isting customers and continued to develop our e - commerce b usiness, w hile maintaining a clear focus on organisational e ff icienc y.” As w e enter the second half of the y ear, our focus is on continuing to develop these areas . W e aim to gro w together w ith our e x isting customers, b roaden the distri b ution of our products, develop ne w product categories and continue to b uild our e - commerce b usiness . At the same time, w e w ill maintain our focus on cost control and e ff icienc y improvements in order to create stronger conditions for improved long - term pro fi ta b ilit y. During the fi rst half of the y ear, w e have put several important b uilding b loc k s in place and no w loo k for w ard to continuing the development of Solution International from a stronger commercial and organisational platform throughout the remainder of 2026 . 3 (18) Q2 2026
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Solution International AB (Publ) 4 (18) Q2 2026
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Solution International AB (Publ) We are Solution Operations & Business Leading Partner Integrated Capabilities A Leading Partner in Baby, Child & Lifestyle Products Solution International is a market-leading consumer goods business specialising in baby feeding, toddler products and family-relevant lifestyle ranges. With a presence in over 9,000 retail locations across the UK and the Netherlands, the company is a trusted supplier to major grocers such as T esco, Sainsbury’s, Asda and Morrisons, as well as leading pharmacy, toy and discount retailers. Our unique model spans private label, licensed brands, and owned brands, enabling us to operate flexibly across price points and category needs. Built on Expertise, Designed for Growth Headquartered in the UK, Solution offers an integrated end-to-end capability that retailers find difficult to replicate in-house. Our business incorporates: These capabilities allow us to create commercially viable, technically robust product ranges with speed and precision. Product design & development T esting and regulatory compliance Category insight & range building Warehousing & distribution Manufacturing & quality assurance Pri v ate Label Leaders h ip Li c ensed & O w ned Brands Private Label Leadership Solution supplies 96% of the UK’s own-label baby feeding accessories, supporting the dramatic rise in consumer trust for retailer-owned brands and the demand for strong value propositions. Licensed & O wned Brands Alongside its private label offering, Solution strengthens its portfolio with leading character licences from partners including Hasbro and P aramount, featuring ranges for children aged 0 –3 years such as : This gives retailers relevant, fast-moving character-led products while ensuring commerciality and agility. Our owned brand Tiny to T ots extends the offer into further categories and provides retailers with a ready-made, deployable brand solution. Ex pansion Strateg y Expanding Beyond Baby & T oddle r As part of our long-term growth strategy, the company is broadening its focus beyond traditional baby accessories into adjacent and complementary categories. These include : Houseware items ( driven by sustainability, health & wellbeing, and social trends ) C hild and adult lifestyle product s C ategories with shared manufacturing processes and the same consumer bas e This diversification strengthens resilience, reduces category concentration, and opens new revenue streams across E urope and beyond. 5 (18) Q2 2026
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Solution International AB (Publ) Our Customers We are proud to work with some of the biggest retailers in the UK and EU comprising FMCG, toy, pharmacy, and discount retailers. Our customer base is extensive, and they deal with us via physical and digital platforms. B2B B2C 9,788 store reached in 2024 D2C “Y ou have been one of the best, most brilliant, enthusiastic suppliers I have ever worked with.” - Nursery Buyer at 6 (18) Q2 2026
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Solution International AB (Publ) Business Overview Solution International is a leading supplier of baby and family products, offering an integrated operation that spans design, development, manufacturing, quality assurance, warehousing and distribution. Through long-standing partnerships with major European retailers, the company delivers reliable service, strong quality and commercially relevant product ranges. Operating across private label, licensed products and owned brands, Solution maintains a broad market presence and high flexibility. With a solid European distribution footprint and exclusive manufacturing partnerships, the company continues to expand into adjacent categories to strengthen long-term growth. Vision T o be first choice for retail partners worldwide, delivering quality assured baby, kids and houseware products through expert knowledge and technical excellence. Mission Deliver quality products, with the best service and value, across every channel and community we serve. Operational Excellence Following two recent audits assessing the company’s standards in product safety, quality, and traceability of consumer goods, the business is delighted to have achieved the highest possible scores for a consecutive year running. These results further underpin the company’s ongoing commitment to global compliance, operational excellence, and industry-leading performance. For a second-year running, Solution was scored an AA result for the BRCGS Agents & Brokers announced audit. A global standard, designed to effectively manage the product safety, authenticity, quality and legality for businesses that sell products but do not manufacture in their own facilities or online sites. Q2 20267 (18)
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Solution International AB (Publ) Financial Overview Group Multi-Y ear Overview Q2 2026 Q2 2025 H1 2026 H1 2025 2025 Net Revenue ( MS EK) 2 9 787 221 * 57 312 664 * 122 520 816 E B I T D A ( MS EK) x x x x x P ro fi t After F inancial I tems ( S EK) -1 352 445 * -3 610 503 * -4 64 9 330 T otal Assets ( MS EK) 71 061 411 * 71 061 411 * 64 473 285 Eq uity Ratio (%) -6 9% * -6 9% * -73 % E arnings P er Share ( S EK) x x x x x Parent Multi-Y ear Overview Q2 2026 Q2 2025 H1 2026 H1 2025 2025 Net Revenue ( MS EK) * * * 50 000 1 550 000 E B I T D A ( MS EK) x x x x x P ro fi t After F inancial I tems ( S EK) -535 542 -5 541 720 -1 0 9 8 652 -6 3 9 8 370 - 9 846 427 T otal Assets ( MS EK) 168 144 673 8 075 803 168 144 673 8 075 803 168 452 1 9 2 Eq uity Ratio (%) 80 % 41 % 80 % 41 % 80 % E arnings P er Share ( S EK) x x x x x Insiders as of 2026-06-30 Marc McLoughlin CEO Stefan Vilhelmsson Chairman of the board Jesper Nord Board Member Robin Bäcklund Board Member Financial Calendar NOV 26 2026-11-26 Q3 Report 2026 FEB 25 2027-02-25 Q4 Report 2026 MA Y 25 2027-05-26 Q1 Report 2027 MA Y 26 2027-05-26 AGM 2027 The company has on 2026-06-30: 44 158 038 outstanding shares This report has not been reviewed by an auditor. Information MA Y 24 AUG 27 2027-05-24 Annual Report 2026 2027-08-27 Q2 Report 2027 8 (18) Q2 2026
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Solution International AB (Publ) Group Income Statement (SEK) Q2 2026 Q2 2025 H1 2026 H1 2025 2025 Operating income 29 787 221 * 57 312 664 * 122 520 816Net sales 29 787 221 * 57 312 664 * 122 520 816 Operating expenses -16 781 316 * -32 286 430 * -86 877 987Goods for resale / Merchandise -4 316 436 * -8 522 341 * -10 078 048Other external expenses -4 600 820 * -9 411 287 * -20 405 452Personnel expenses -1 656 614 * -3 293 338 * -6 742 681Depreciation and amortisation -2 343 822 * -4 607 314 * -52 276Other operating expenses -29 699 008 * -58 120 710 * -124 156 444 Operating profit (EBIT) 88 213 * -808 046 * -1 635 628 Result from financial investments 4 * 10 * 165 681Interest revenue -1 440 662 * -2 802 467 * -3 179 383Interest expenses -1 440 658 * -2 802 457 * -3 013 702 Profit after financial items -1 352 445 * -3 610 503 * -4 649 330 0 * 542 610 * -1 296 660T ax N et profit for t h e perio d -1 352 445 * -3 067 893 * -5 945 990 Earnings per s h are -0 , 03 * -0 , 07 * -0 , 13 * C omparative figures are not availa b le due to a reverse ac q uisition ( 2025-09-11 ), in w hich S olution International L td b ecame the parent compan y and S olution International Nordics AB ( pu b l ) the su b sidiar y. This has resulted in a ne w Group structure w ithout historical comparative figures . 9 (18) Q2 2026
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Solution International AB (Publ) Group Balance Sheet Assets 2026-06-30 2025-06-30 2025-12-31 Non-current Assets Intangible Assets Goodwill 9 946 438 * 11 518 395 Platform and T rademarks 1 125 687 * 1 086 328 11 072 125 * 12 604 723 T angible Assets Product Development Costs, Equipment and Installations 5 971 847 * 6 322 128 5 971 847 * 6 322 128 T otal Non-current Assets 17 043 972 * 18 926 851 Current Assets Inventory etc. Finished Goods and Merchandise 26 513 744 * 20 149 599 2 6 51 3 744 * 20 149 599 Current R eceivables T rade R eceivables 21 203 274 * 16 276 360 O ther R eceivables 5 404 771 * 4 521 715 Prepaid E x penses and Accrued Income 265 998 * 3 416 537 2 6 874 04 3 * 24 214 612 Cash and B ank B alances 629 652 * 1 182 223 T otal Current Assets 54 017 439 * 45 546 434 T otal Assets 71 061 411 * 64 473 285 * Comparative fi gures are not available due to a reverse acquisition ( 2025 - 09 - 11 ) , in which S olution International L td became the parent company and S olution International N ordics A B ( publ ) the subsidiary. This has resulted in a new Group structure without historical comparative fi gures. 10 (18) Q2 2026
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Solution International AB (Publ) Group Balance Sheet Equity and Liabilities 2026-06-30 2025-06-30 2025-12-31 Equity Share Capital 6 117 459 * 6 117 459 Additional Paid-in Capital 227 604 074 * 227 604 074 Other Equity Including Net Result for the Y ear -282 703 081 * -280 588 048 T otal Equity -48 981 548 * -46 866 515 Provisions Deferred T ax Liability 1 336 369 * 1 289 643 T otal Provisions 1 336 369 * 1 289 643 Non-current Liabilities Liabilities to credit institutions 4 841 655 * 4 672 367 Other Liabilities 53 279 534 * 56 161 010 T otal N on- c urr e nt L ia b iliti e s 58 121 189 * 6 0 833 3 77 Current Liabilities Ban k Overdraft F acility 1 496 060 * 2 521 757 T rade Payables 10 559 647 * 4 386 765 Current T ax Liabilities 418 880 * 1 085 185 Other Liabilities 44 151 371 * 36 848 183 Accrued Expenses and Deferred Income 3 959 443 * 4 374 890 T otal C urr e nt L ia b iliti e s 6 0 585 4 0 1 * 49 216 7 8 0 T otal Equity an d L ia b iliti e s 7 1 0 61 411 * 64 4 7 3 285 * Comparative figures are not available due to a reverse acquisition (2025-09-11), in which Solution International Ltd became the parent company and Solution International Nordics AB (publ) the subsidiary. This has resulted in a new Group structure without historical comparative figures. 11 (18) Q2 2026
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Solution International AB (Publ) Group Cash Flow Statement (SEK) H1 2026 2025 Operating activities Profit/loss after financial items -3 610 503 -4 649 330 Adjustments for items not included in cash flow 4 584 044 7 288 100 973 541 2 638 770 Income tax paid -705 620 -863 103 Cash flow from operating activities before changes in working capital 267 921 1 775 667 Changes in working capital Change in operating stock -5 688 466 8 560 269 Change in operating receivables -5 895 279 10 126 925 Change in operating liabilities 5 277 686 -20 318 623 Cash flow from operating activities -6 038 138 144 238 Investment activities Acquisition of subsidierades0 0 47 516 Acquisition of tangible fixed assets -838 661 0 Cash flow from investment activities -838 661 47 516 F inancing activities Loan amendment 6 324 228 -1 191 253 Cash flow from fi nancing activities 6 324 228 -1 191 253 N et cash flow for the perio d -552 571 -999 499 Cash an d cash e qu ivalents at the beginning of the perio d 1 182 223 2 181 722 Cash an d cash e qu ivalents at the en d of the perio d 629 652 1 182 223 * Comparative figures are not available due to a reverse acquisition (2025-09-11), in which Solution International Ltd became the parent company and Solution International Nordics AB (publ) the subsidiary. This has resulted in a new Group structure without historical comparative figures. 12 (18) Q2 2026
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Solution International AB (Publ) Parent Company Income Statement (SEK) Q2 2026 Q2 2025 H1 2026 H1 2025 2025 Net Revenue 0 0 0 50 000 1 550 000 Operating Income 0 0 0 50 000 1 550 000 Operating Expenses Other External Costs -104 591 -151 310 -272 591 -398 730 -869 510 Personnel Costs -77 801 -69 280 -155 602 -96 140 -263 811 Depreciation and amortisation 0 0 0 -5 767 -5 767 -182 392 -220 590 -428 193 -500 637 -1 139 088 Operating Profit -182 392 -220 590 -428 193 -450 637 410 912 Financial Income and Expenses Profit from Shares in Group Companies 0 -5 152 310 0 -5 152 310 -5 152 310 Income from other securities and receiva b les held as fixed assets 0 -168 553 0 -408 827 -4 328 314 Interest Income and Similar Items 4 10 10 991 1 281 Interest Expenses and Similar Items -353 154 -277 -670 469 -387 587 -777 996 -353 150 -5 321 130 -670 459 -5 947 733 -10 257 339 Profit Af ter F inancia l Item s -535 542 -5 541 720 -1 098 652 -6 398 370 -9 846 427 T ax on Profit for the Period 0 0 0 0 0 Profit f or t h e Perio d -535 542 -5 541 720 -1 098 652 -6 398 370 -9 846 427 13 (18) Q2 2026
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Solution International AB (Publ) Parent Company Balance Sheet Assets 2026-06-30 2025-06-30 2025-12-31 Financial Non-current Assets Shares in Group Companies 166 800 000 0 166 800 000 Other Long-term Securities Holdings 0 7 950 000 0 166 800 000 7 950 000 166 800 000 T otal fixed assets 166 800 000 7 950 000 166 800 000 Current Assets Current Receivables Receivables from Associated Companies 1 216 331 0 1 500 000 Other Receivables 56 810 22 719 41 188 Prepaid Expenses and Accrued Income 16 165 72 924 72 924 1 289 306 95 643 1 614 112 Cash and Bank Balances 55 367 30 160 38 080 T otal Curr e n t A ssets 1 344 673 125 803 1 652 192 T otal A ssets 168 144 673 8 075 803 168 452 192 14 (18) Q2 2026
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Solution International AB (Publ) Parent Company Balance Sheet Equity and Liabilities 2026-06-30 2025-06-30 2025-12-31 Equity Restricted Equity Share Capital 6 117 459 616 782 6 117 459 6 117 459 616 782 6 117 459 Unrestricted Equity Share Premium Reserve 227 604 074 98 104 751 227 604 074 Retained Earnings -98 871 640 -89 025 213 -89 025 213 Profit for the Period -1 098 652 -6 398 370 -9 846 427 127 633 782 2 681 168 128 732 434 T otal Equity 133 751 241 3 297 950 134 849 893 N on-current L ia b ilities L ia b ilities to group companies 4 392 711 0 0 L ia b ilities to A ssociated Companies 0 2 550 097 32 190 410 O ther lia b ilities 28 455 672 0 0 3 2 848 3 8 3 2 55 0 0 97 3 2 19 0 41 0 Current L ia b ilities T rade Paya b les 497 972 215 754 405 881 L ia b ilities to A ssociated Companies 0 1 524 722 0 O ther L ia b ilities 252 174 0 244 307 A ccrued E x penses and D eferred I ncome 794 903 487 280 761 701 1 545 0 49 2 227 756 1 411 889 T otal Equity a nd L ia b iliti es 168 144 673 8 075 803 168 452 192 15 (18) Q2 2026
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Solution International AB (Publ) Parent Company Cash Flow Statement (SEK) H1 2026 H1 2025 2025 Operating activities Profit/loss after financial items -1 098 652 -6 398 370 -9 846 427 Adjustments for items not included in cash flow 657 973 5 889 538 9 949 043 -440 679 -508 832 102 616 0 96 745 96 745Income tax paid Cash flow from operating activities before changes in working capital -440 679 -412 087 199 361 Changes in working capital Change in operating receivables 324 805 223 306 -1 380 163 Change in operating liabilities 133 161 -500 014 441 177 17 287 -688 795 -739 625Cash flow from operating activities Investment activities Sale of non-current assets 0 641 173 699 923 0 641 173 699 923Cash flow from investment activities 17 287 -47 622 -39 702Net cash flow for the period 38 080 77 782 77 782Cash and cash e qu ivalents at the beginning of the period 55 367 30 160 38 080Cash and cash e qu ivalents at the end of the period 16 (18) Q2 2026
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Solution International AB (Publ) Additional Disclosures Accounting Principles Accounting Method – K3 Principle: The consolidated financial statements have been prepared in accordance with the acquisition method. This means that the assets and liabilities of acquired subsidiaries are recognised at the fair value that formed the basis for determining the purchase consideration of the shares. The difference between the purchase consideration and the acquired company's equity is reported as goodwill. The Group's equity comprises the parent company's equity and the portion of the subsidiaries' equity that has arisen after the date of acquisition. The Share The Company's share is available for trading on Spotlight Stock Market under the ticker symbol SIN and ISIN code SE0020541589. Risks There are several risks that may affect the Company's operations and results. Many internal risks are mitigated by strengthening the Group's internal procedures, but there are external factors that the Group cannot influence. Investors should exercise caution and form a complete understanding of the Company before making any investment decision. Due to rounding, figures presented in this interim report may in some cases not sum exactly to the totals, and percentage figures may deviate from precise values. Employees The Company had 20 employees at the end of the period. Non-current Assets Non-current assets are measured at cost less accumulated depreciation and any impairment losses. Intangible and tangible non-current assets are recognised at cost less accumulated depreciation and any impairment. Straight-line depreciation is applied to the depreciable amount (cost less estimated residual value) over the asset's useful life as follows: equipment, tools, installations and goodwill - 5 years. Rounding Due to rounding, figures presented in this interim report may in some cases not sum exactly to the totals, and percentage figures may deviate from precise values. Depreciation and Impairment The result for the second quarter of 2026 was impacted by depreciation of -1 656 614 SEK related to the Group's platforms and goodwill amortisation. Equity As of 30 June 2026, consolidated equity amounted to -48 981 548 SEK. The parent company's equity amounted to 133 751 241 SEK (3 297 950 SEK) as of 30 June 2026. 17 (18) Q2 2026
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Q2 2026 Solution International Nordics AB (Publ) Org number: 556670-3038 Published 2026-08-27 18 (18) Box 16416 103 27 Stockholm Sweden ir@solutioninternational.com Q2 2026