Interim report
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TOBII AB (PUBL) INTERIM REPORT JANUARY - SEPTEMBER 2026 | 1 Strengthened core business and focus on financing THIRD QUARTER 2026 • Net sales amounted to SEK 140 million (158) with an organic decline of 12%. Adjusted for the effects of pre-purchase agreement and non-recurring revenues in the comparative quarter, net sales increased by 16% • Gross margin was 79% (82%) • Operating result (EBIT) amounted to SEK -217 million (-33). The result includes non-cash amortization and depreciation of SEK 48 million (41) and write-offs of SEK 180 million (0) • Profit/loss amounted to SEK -235 million (-48) • Earnings per share amounted to SEK -1.0 (-0.20) • Free cash flow amounted to SEK -6 million (-29) SIGNIFICANT EVENTS DURING AND AFTER THE END OF THE QUARTER JANUARY-SEPTEMBER 2026 • Net sales amounted to SEK 458 million (640) with an organic decline of 19%. Adjusted for the effects of pre-purchase agreement and non-recurring revenues in the comparative period, net sales increased by 5% • Gross margin increased to 82% (81%) • Operating result (EBIT) amounted to SEK –231 million (2). The result includes non-cash amortization and depreciation of SEK 147 million (95) and write-offs of SEK 188 million (48), as well as a fair value adjustment of contingent considerations of SEK 51 million • Profit/loss amounted to SEK -292 million (-16) • Earnings per share amounted to SEK –1.24 (-0.07) • Free cash flow amounted to SEK 1 million (28) • Launch of a locally installed version of Webcam eye tracking for research, a complement to the distributed online research tool launched in the second quarter • Write-off of SEK 180 million within Autosense, mainly relating to legacy DMS technology developed before the acquisition of Autosense • Carl Mellander and Charlotta Falvin have left their positions as members of the Board of Directors of Tobii. In connection with this the Board has decided to appoint Jesper Kärrbrink as advisor to the Board • Martin Johansson was appointed acting CFO and succeeded Åsa Wirén, who left the company in connection with a relocation abroad and will support during a transition period FINANCIAL PERFORMANCE INDICATORS FOR THE GROUP For more information, see financial definitions on page 22. Q3 2026 Q3 2025 Δ Organic Δ Jan-Sep 2026 Jan-Sep 2025 Δ Organic Δ Jan-Dec 2025 Net sales, SEK million 140 158 -11% -12% 458 640 -28% -19% 834 Gross profit, SEK million 111 129 -18 375 518 -142 668 Gross margin, % 79% 82% - 82% 81% - 80% Operating profit/loss (EBIT), SEK million -217 -33 -184 -231 2 -233 -194 Operating margin (EBIT-margin), % -155% -21% - -50% 0% - -23% Profit/loss for the period, SEK million -235 -48 -188 -292 -16 -276 -217 Earnings per share, SEK -1.00 -0.20 -0.80 -1.24 -0.07 -1.18 -0.93 Free cash flow, SEK million -6 -29 23 1 28 -27 85 Q3 2026 Interim report January - September
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TOBII AB (PUBL) INTERIM REPORT JANUARY - SEPTEMBER 2026 | 2 Comments from the CEO We remain in a strained financial position, but we are encouraged that the underlying business is moving in the right direction. Through the strategic review and the cost- saving programs, we have strengthened Tobii's core business, Products & Solutions and Integrations, while we continue to evaluate strategic alternatives for Autosense. We are actively working to strengthen our capital structure and are on track toward our goal of positive operating cash flow for the Group in 2027. Working to secure our financial platform The Board of Directors, management and the company’s principal shareholders are working together with external advisors to strengthen Tobii’s balance sheet which is necessary in order to address the strained liquidity and meet the group’s financial commitments. These include, among other things, repayments of COVID-related tax deferrals in the first quarter of 2027 and the first payment of the purchase price to Xperi for the acquisition of Autosense in the second quarter of 2027. Tobii is actively evaluating various financing alternatives, including different forms of equity and debt financing. The feasibility and terms of these alternatives depend, among other things, on ongoing negotiations with Xperi regarding the upcoming purchase price payments for the acquisition of Autosense. There can be no assurance that this will result in any transaction, decision or other action. Tobii will provide further information when material events occur. A strengthened core business: Products & Solutions and Integrations The strategic review has shaped Products & Solutions and Integrations into a solid foundation, from which we can continue to build on. The extensive cost-saving programs and the measures we have implemented so far have strengthened Products & Solutions and Integrations. Among other things, we have sharpened our product priorities and are directing our resources toward the products, customers and segments that generate the highest returns. Products & Solutions and Integrations together reported positive EBIT in the third quarter. Having largely focused on reducing our cost base, we are now taking the next step to strengthen our business within three priority areas: 1. Stronger financial control, with a disciplined cost base even as we grow and strict prioritization of our investments 2. Continued development of our business, where Products & Solutions will become our cash-generating core with an increased focus on business opportunities both within and beyond the research field, while Integrations is putting more efforts towards more standardized platforms and selected verticals 3. A more customer-centric culture and sharper commercial execution The principle straightforward: we safeguard liquidity, focus our resources and scale up where we see profitable growth. Autosense remains under strategic review Autosense remains under strategic review. Last quarter, we took an important step by presenting further measures that will reduce Autosense’s annual cost base by more than SEK 50 million. We also presented a revised strategic direction focused on shorter payback periods and lower risk. Autosense remains under review, and we are evaluating all alternatives that could strengthen Tobii's financial position. Improved underlying results Net sales amounted to SEK 140 million (158), a decrease of 11 percent. Adjusted for a pre- purchase deal with Dynavox and non-recurring revenue in the comparison quarter, sales grew by 16 percent. Products & Solutions showed positive organic growth in the quarter. This was driven in part by a gradual normalization in China, after recent months’ delays in procurement following the country’s new five-year plan. The group’s EBIT amounted to SEK –217 million, negatively affected by an impairment within Autosense of SEK 180 million, while Products & Solutions and Integrations together reported positive EBIT for the quarter. The impairment mainly relates to the legacy DMS technology that Tobii developed before the acquisition of Autosense. It also reflects the new strategic direction for the business unit. The group’s operating profit before depreciation, amortization and impairment (EBITDA) increased to SEK 18 million (11), a margin of 13 percent (7). This was achieved even though the previous year’s pre-purchase agreement with Dynavox had a significant positive effect on both earnings and margin in the comparison quarter. Fadi Pharaon CEO, Tobii “The extensive cost-saving programs and the measures we have implemented so far have strengthened Products & Solutions and Integrations.”
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TOBII AB (PUBL) INTERIM REPORT JANUARY - SEPTEMBER 2026 | 3 Free cash flow amounted to SEK –6 million, and cash and cash equivalents amounted to SEK 29 million at the end of the quarter. Outlook Over more than two decades, Tobii has built a world-leading position in eye tracking. We are now moving from a broad technology portfolio to a focused company that turns human sensing into customer value. The direction is clear and the work is underway. I would like to thank our employees for their commitment and hard work during a demanding period, and our customers, partners and shareholders for their continued trust and support. Fadi Pharaon CEO
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TOBII AB (PUBL) INTERIM REPORT JANUARY - SEPTEMBER 2026 | 4 Financial performance THE GROUP PRODUCTS & SOLUTIONS INTEGRATIONS AUTOSENSE 1 For more information, see net sales on page 5-6. SEK m Q3 2026 Q3 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Dec 2025 Net sales 140 158 458 640 834 Net sales change: -11% -28% - of which organic -12% -19% - of which currency 1% -3% - of which non-recurring revenue¹ 0% -6% Gross profit 111 129 375 518 668 Gross margin 79% 82% 82% 81% 80% Operating profit/loss (EBIT) -217 -33 -231 2 -194 Operating margin (EBIT-margin) -155% -21% -50% 0% -23% SEK m Q3 2026 Q3 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Dec 2025 Net sales 86 84 240 280 390 Net sales change: 3% -14% - of which organic 3% -10% - of which currency 0% -5% Gross profit 60 57 167 181 252 Gross margin 70% 68% 70% 65% 65% Operating profit/loss (EBIT) -7 -19 -39 -90 -91 Operating margin (EBIT-margin) -8% -22% -16% -32% -23% SEK m Q3 2026 Q3 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Dec 2025 Net sales 42 69 120 328 374 Net sales change: -39% -63% - of which organic -40% -56% - of which currency 1% -1% - of which non-recurring revenue¹ 0% -7% Gross profit 39 66 111 305 346 Gross margin 93% 97% 92% 93% 92% Operating profit/loss (EBIT) 11 27 17 187 163 Operating margin (EBIT-margin) 27% 39% 15% 57% 43% SEK m Q3 2026 Q3 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Dec 2025 Net sales 12 6 97 32 70 Net sales change: 114% 201% - of which organic 113% 215% - of which currency 1% -14% Gross profit 12 6 97 32 69 Gross margin 100% 99% 100% 100% 100% Operating profit/loss (EBIT) -222 -42 -208 -95 -267 Operating margin (EBIT-margin) -1,810% -732% -213% -293% -384% NET SALES, SEK M, AND GROSS MARGIN, % RESEARCH AND DEVELOPMENT NET SALES PER SEGMENT Q3 2026 158 193 164 154 140 82% 78% 84% 82% 79% Q3 Q4 Q1 Q2 Q3 '25 '26 SEK m Q3 2026 Q3 2025 Total R&D expenditures -54 -71 Capitalization 27 31 Amortization and impairment -230 -39 R&D expenses in the income statement -257 -79 SEK m Jan- Sep 2026 Jan- Sep 2025 Total R&D expenditures -177 -266 Capitalization 86 142 Amortization and impairment -343 -147 R&D expenses in the income statement -434 -271 61% 30% 9% Products & Solutions Integrations Autosense
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TOBII AB (PUBL) INTERIM REPORT JANUARY - SEPTEMBER 2026 | 5 JULY-SEPTEMBER NET SALES The Group’s net sales decreased by 11 percent to SEK 140 million (158). The organic decline was 12 percent, and exchange rates had a positive impact of 1 percent. Excluding the pre-purchase and non- recurring revenues in the comparative period, net sales increased by 16 percent. Products & Solutions net sales totaled SEK 86 million (84), corresponding to an organic increase of 3 percent. Net sales were positively impacted by a market normalization in China. Integrations net sales decreased by 39 percent to SEK 42 million (69). Net sales for the comparative period were positively impacted with SEK 30 million by the pre-purchase agreement with Dynavox Group and non-recurring royalties of SEK 7 million. The organic decline was 40 percent and exchange rate fluctuations impacted sales positively with 1 percent. Autosense net sales amounted to SEK 12 million (6), corresponding to an organic growth of 113 percent. The increase is related to increased license revenue. Exchange rates impacted sales by 1 percent. RESULTS The gross margin was 79 percent (82). The lower gross margin is mainly related to an unfavorable product mix. Products & Solutions gross margin was 70 percent (68). The increase in gross margin was related to more efficient organization. Integrations’ gross margin was 93 percent (97). The high gross margin reflects the software-, service-, and license-based product mix. Autosense gross margin was 100 percent (99). The high gross margin reflects a favorable revenue mix driven by a high proportion of software sales and non-recurring customer-specific engineering projects. Operational expenses amounted to SEK 328 million (163). The increase is related to non-cash write-offs in the third quarter amounting to SEK 180 million (0) in the Autosense segment. The increase was partially offset by the cost-saving program initiated during previous year. Cash-related operational expenses, excluding depreciation, amortization and write-offs and including R&D capex, amounted to SEK 121 million (150) in the quarter. The operating result was SEK -217 million (-33), and the operating margin was -155 percent (-21). The EBIT development was negatively impacted by the write-off in the current period as well as non-recurring revenues in the comparative period. These factors were offset by a lowered cost base as a result of implemented cost- saving measures. Net financial items amounted to SEK -21 million (-13), primarily consisting of SEK -11 million (4) in currency effects, SEK -10 million (-12) in interest expenses, and SEK 0 million (-6) in other financial expenses. The interest expenses were mainly related to interest- bearing liabilities and interest due to temporary Covid-related tax reliefs. Profit/loss before tax was SEK -238 million (-47). Profit/loss for the quarter was SEK -235 million (-48) and diluted earnings per share were SEK -1.0 (-0.20). CASH FLOW Cash flow from operating activities, before changes in working capital, amounted to SEK 16 million (6). Change in working capital amounted to SEK 6 million (-4). Investments in intangible, tangible, and financial fixed assets amounted to SEK 28 million (31), including SEK 27 million (31) in capitalized R&D costs. Free cash flow was SEK -6 million (-29). Cash flow from financing activities amounted to SEK -2 million (-99).
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TOBII AB (PUBL) INTERIM REPORT JANUARY - SEPTEMBER 2026 | 6 JANUARY-SEPTEMBER NET SALES The Group’s net sales decreased by 28 percent to SEK 458 million (640). Non-organic and non-recurring revenue in the comparative period contributed to a decline in sales of 6 percent. Exchange rates had a negative impact of 3 percent, corresponding to SEK 22 million. The organic decline was 19 percent. Excluding the pre-purchase agreement and non-recurring revenues in the comparative period, net sales increased by 5 percent. Products & Solutions net sales totaled SEK 240 million (280), corresponding to an organic decline of 10 percent. Exchange rates affected by 5 percent. Net sales were impacted by an uncertain business environment. Integrations net sales decreased by 63 percent to SEK 120 million (328). Net sales for the comparative period were positively impacted by the SEK 100 million pre-purchase agreement with Dynavox Group and non-recurring royalties of SEK 52 million. The comparative period also included non-recurring revenue from the acquired imaging business of SEK 50 million, which ended after the second quarter of 2025 and is not considered organic. The organic decline was 56 percent and exchange rates impacted sales by -1 percent. Autosense net sales amounted to SEK 97 million (32), corresponding to an organic growth of 215 percent. The increase is mainly related to the previously announced DMS-licensing agreement with a major automotive supplier and increased licensing revenue. Exchange rates impacted sales negatively by 14 percent. RESULTS The gross margin was 82 percent (81). Products & Solutions gross margin was 70 percent (65). The difference in gross margin was related to a more favorable product mix and a more efficient organization. Integrations gross margin was 92 percent (93). The high gross margin reflects the software-, service-, and license-based product mix. Autosense gross margin was 100 percent (100). The high gross margin reflects a favorable revenue mix driven by a high proportion of software sales and non-recurring customer-specific engineering projects. Operational expenses amounted to SEK 606 million (515). The increase is related to non-cash write-offs amounting to SEK 188 million (48) and increased amortizations. The increase was partially offset by the cost-saving program. The comparison was also affected by a non-cash fair value adjustment of contingent consideration of SEK 51 million in the second quarter. The divestment of non-core patents of SEK 15 million in the first quarter of 2025 and exchange rate fluctuations also impacted the comparison. The operating result was SEK -231 million (2), and the operating margin was -50 percent (0). The EBIT development was negatively impacted by write-offs in the current period as well as non-recurring revenues in the comparative period. The comparison was also affected by lower capitalization, higher amortizations and a fair value adjustment of contingent considerations. The result was strengthened by a lowered cost base as a result of implemented cost-saving measures. Net financial items amounted to SEK -64 million (-18), primarily comprising SEK -32 million (50) in currency effects, SEK -31 million (-37) in interest expenses, and SEK -1 million (-32) in other financial expenses. The interest expenses were mainly related to interest-bearing liabilities and interest due to temporary Covid- related tax reliefs. Profit/loss before tax was SEK -294 million (-15). Profit/loss for the period was SEK -292 million (-16) and diluted earnings per share were SEK -1.24 (-0.07). CASH FLOW AND FINANCIAL POSITION Cash flow from operating activities, before changes in working capital, amounted to SEK 69 million (156). Change in working capital amounted to SEK 19 million (16). Investments in intangible, tangible, and financial fixed assets amounted to SEK 88 million (144), including SEK 86 million (142) in capitalized R&D costs. Free cash flow was SEK 1 million (28). Free cash flow was impacted by cash flow from operating activities and the reduced R&D investments. Cash flow from financing activities amounted to SEK -90 million (-114), including a SEK 39 million repayment of covid- related tax reliefs, a SEK 47 million repayment of previously utilized credit facility, and SEK 20 million for a new credit facility. Intangible assets decreased from SEK 812 million to SEK 575 million during the period, including write-offs of SEK 188 million. As previously communicated, Tobii has been granted a repayment plan for covid-related tax reliefs. During the first quarter of 2026 a repayment of SEK 39 million, including interest and deferral fee, was made. The remaining debt, including interest and deferral fee, amounts to SEK 137 million, of which SEK 97 million is scheduled for repayment in the first quarter 2027 and SEK 40 million during the third quarter 2027. In connection with the acquisition of FotoNation Ltd during 2024, a promissory note of USD 28 million was issued with 8 percent interest that will be paid over three years, starting in 2027. Cash and cash equivalents decreased from SEK 117 million to 29 million during the period, mainly attributable to the cashflow from financing activities. The Group has a credit facility of SEK 25 million, of which SEK 20 million was utilized at the end of the period. Consolidated net debt totaled SEK -534 million (-540).
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TOBII AB (PUBL) INTERIM REPORT JANUARY - SEPTEMBER 2026 | 7 The Group CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME *Includes write-offs of SEK 180 million in the third quarter 2026, mainly related to legacy DMS-technology within Autosense SEK m Q3 2026 Q3 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Dec 2025 Net sales 140 158 458 640 834 Cost of goods and services sold -29 -29 -83 -122 -166 Gross profit 111 129 375 518 668 Selling expenses -44 -61 -141 -196 -244 Research and development expenses* -257 -79 -434 -271 -616 Administrative expenses -23 -28 -68 -86 -111 Other operating income and operating expenses -4 5 37 38 109 Operating profit/loss (EBIT) -217 -33 -231 2 -194 Net financial items -21 -13 -64 -18 -17 Profit/loss before tax -238 -47 -294 -15 -211 Tax 3 -1 2 0 -6 Profit/loss for the period -235 -48 -292 -16 -217 Other comprehensive income Items that may subsequently be reclassified to profit or loss for the period: Translation differences 6 -4 18 -71 -68 Other comprehensive income for the period, net after tax 6 -4 18 -71 -68 Total comprehensive income for the period -229 -52 -273 -87 -285 Earnings per share, SEK -1.00 -0.20 -1.24 -0.07 -0.93 Earnings per share, diluted, SEK -1.00 -0.20 -1.24 -0.07 -0.93 Profit/loss for the period attributable to: Parent Company shareholders -236 -48 -292 -16 -217 Non-controlling interests 0 0 0 0 0 Total comprehensive income for the period attributable to: Parent Company shareholders -230 -52 -274 -87 -285 Non-controlling interests 1 0 1 0 0
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TOBII AB (PUBL) INTERIM REPORT JANUARY - SEPTEMBER 2026 | 8 CONDENSED CONSOLIDATED BALANCE SHEET SEK m Sept 30 2026 Sept 30 2025 Dec 31 2025 ASSETS NON-CURRENT ASSETS Intangible assets 575 1,076 812 Tangible fixed assets 10 15 14 Right-of-use assets 69 91 83 Financial and other non-current assets 100 105 104 Total non-current assets 754 1,287 1,013 CURRENT ASSETS Trade receivables 62 101 61 Inventories 35 51 41 Other current assets 65 72 64 Cash and cash equivalents 29 23 117 Total current assets 191 247 282 Total assets 945 1,534 1,295 EQUITY Equity, Parent Company shareholders 116 589 393 Non-controlling interests 3 3 2 Total equity 119 592 395 LIABILITIES NON-CURRENT LIABILITIES Interest-bearing loans 214 431 427 Leasing liabilities 40 62 53 Other non-current liabilities 138 242 174 Total non-current liabilities 391 735 654 CURRENT LIABILITIES Short-term part of Interest-bearing loans 279 41 89 Leasing liabilities 31 28 29 Other current liabilities 125 137 129 Total current liabilities 435 207 247 Total liabilities 826 942 901 Total equity and liabilities 945 1,534 1,295
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TOBII AB (PUBL) INTERIM REPORT JANUARY - SEPTEMBER 2026 | 9 CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY SEK m Share capital Other contributed capital Currency translation reserve Retained earnings Total Non-controlling interests Total equity Opening balance, Jan 1, 2025 2 2,260 -16 -1,569 676 2 678 Comprehensive income for the period -71 -16 -87 0 -87 New share issue 0 0 0 Share based payments settled using equity instruments 0 0 0 Closing balance, Sept 30, 2025 2 2,260 -87 -1,585 589 3 592 Comprehensive income for the period 3 -201 -198 0 -199 New share issue 0 1 0 1 1 Share based payments settled using equity instruments 1 1 1 Closing balance, Dec 31, 2025 2 2,261 -84 -1,786 393 2 395 Opening balance, Jan 1, 2026 2 2,261 -84 -1,786 393 2 395 Comprehensive income for the period 18 -292 -274 1 -273 Share based payments settled using equity instruments 1 -4 -2 -2 Closing balance, Sept 30, 2026 2 2,262 -66 -2,082 116 3 119 Attributable to Parent Company shareholders
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TOBII AB (PUBL) INTERIM REPORT JANUARY - SEPTEMBER 2026 | 10 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOW SEK m Q3 2026 Q3 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Dec 2025 Cash flow from operating activities Profit/loss after financial items -238 -47 -294 -15 -211 Adjustment for items not included in the cash flow 254 54 364 173 412 Taxes paid 0 -1 0 -2 -2 Cash flow from operating activities before change in working capital 16 6 69 156 199 Cash flow from change in working capital 6 -4 19 16 63 Cash flow from operating activities 22 2 89 172 262 Investments in intangible, tangible, and financial fixed assets -28 -31 -88 -144 -177 Cash flow after investments -6 -29 1 28 85 Interest-bearing loan 6 -92 -68 -93 -46 New share issue, net of issue costs - - - 0 0 Amortization of lease liability -8 -7 -22 -22 -29 Other financing activities, net 0 - - - 0 Cash flow from financing activities -2 -99 -90 -114 -75 Cash flow for the period -8 -128 -89 -86 10 Cash and cash equivalents at the beginning of the period 37 150 117 116 116 Foreign currency translation, cash and cash equivalents 0 1 2 -6 -9 Cash and cash equivalents at the end of the period 29 23 29 23 117
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TOBII AB (PUBL) INTERIM REPORT JANUARY - SEPTEMBER 2026 | 11 CONSOLIDATED KEY RATIOS 1 On September 30, 2026, a total of 0.2 million stock options and stock units were outstanding, which is a decrease of 0.8 million since the end of 2025. During the year, 18,760 stock units have been redeemed relating to the following programs: LTI 2022 (9,889), LTI 2023 (8,871). No stock options have been redeemed. The dilution effect of stock options, and stock units in all the Company´s incentive programs correspond to a maximum of approximately 0.1 percent. Q3 2026 Q3 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Dec 2025 Earnings per share, SEK -1.00 -0.20 -1.24 -0.07 -0.93 Earnings per share, diluted, SEK¹⁾ -1.00 -0.20 -1.24 -0.07 -0.93 Equity per share, SEK 0 3 0 3 2 EBITDA, SEK m 18 11 127 167 281 EBIT, SEK m -217 -33 -231 2 -194 Cash flow from operating activities, SEK m 22 2 89 172 262 Free cash flow , SEK m -6 -29 1 28 85 Working capital, SEK m 37 87 37 87 36 Total assets, SEK m 945 1,534 945 1,534 1,295 Net cash(+)/net debt (-), SEK m -534 -540 -534 -540 -481 Net cash(+)/net debt (-); excluding leasing, SEK m -464 -450 -464 -450 -399 Equity, SEK m 119 592 119 592 395 Equity/assets ratio, % 13 39 13 39 30 Debt/equity, % 473 95 473 95 151 Gross margin, % 79 82 82 81 80 EBITDA margin, % 13 7 28 26 34 Operating margin (EBIT-margin), % -155 -21 -50 0 -23 Average number of outstanding shares 235,013,959 233,971,295 234,857,986 233,785,122 233,873,462 Average number of outstanding shares after dilution 235,048,137 234,207,379 234,888,747 234,006,527 234,092,606 Number of outstanding shares at period end 235,013,959 234,135,600 235,013,959 234,135,600 234,135,600 Number of outstanding shares after dilution at period end 235,044,721 234,357,005 235,044,721 234,357,005 234,354,744 Average number of employees 371 446 388 481 469
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TOBII AB (PUBL) INTERIM REPORT JANUARY - SEPTEMBER 2026 | 12 BREAKDOWN OF NET SALES SEK m Q3 2026 Q3 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Dec 2025 NET SALES BY PRODUCT CATEGORY Hardware 90 68 242 247 350 whereof Products & Solutions 61 60 165 197 277 whereof Integrations 29 7 78 50 72 whereof Autosense - - - 0 0 Software 31 81 150 314 378 whereof Products & Solutions 15 16 43 52 72 whereof Integrations 10 59 31 239 255 whereof Autosense 6 6 75 24 51 Services 19 9 65 79 106 whereof Products & Solutions 10 7 32 31 40 whereof Integrations 3 2 11 39 48 whereof Autosense 6 0 22 8 18 Total net sales 140 158 458 640 834 NET SALES BY TIMING CATEGORY At a point in time 139 157 453 635 827 whereof Products & Solutions 85 82 236 275 383 whereof Integrations 42 69 120 328 374 whereof Autosense 12 6 97 32 70 Over time 1 1 4 5 6 whereof Products & Solutions 1 1 4 5 6 whereof Integrations - - - - - whereof Autosense - - - - - Total net sales 140 158 458 640 834 NET SALES BY GEOGRAPHIC MARKET EMEA 65 87 248 312 403 Americas 33 31 104 176 222 Other countries 43 41 105 151 208 Total net sales 140 158 458 640 834
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TOBII AB (PUBL) INTERIM REPORT JANUARY - SEPTEMBER 2026 | 13 QUARTERLY DATA Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Net sales, SEK m Products & Solutions 86 76 79 110 84 93 104 143 92 109 112 Integrations 42 37 41 46 69 178 80 118 108 84 43 Autosense 12 40 45 37 6 12 14 23 11 9 7 The Group 140 154 164 193 158 284 198 284 211 201 161 Gross profit, SEK m Products & Solutions 60 51 56 71 57 59 64 102 54 72 71 Integrations 39 34 37 41 66 165 73 115 104 80 41 Autosense 12 40 45 37 6 12 14 22 11 8 7 The Group 111 126 138 150 129 237 152 240 169 160 119 Gross margin, % Products & Solutions 70 68 71 65 68 64 62 72 59 66 64 Integrations 93 91 92 88 97 93 91 97 97 96 96 Autosense 100 100 100 100 99 100 100 99 94 91 99 The Group 79 82 84 78 82 83 77 84 80 79 74 EBITDA, SEK m 18 73 36 115 11 106 50 82 19 -12 -27 Operating profit/loss (EBIT), SEK m Products & Solutions -7 -21 -12 -1 -19 -59 -12 31 -22 -26 -23 Integrations 11 0 5 -24 27 112 48 73 49 21 -13 Autosense -222 36 -21 -172 -42 -28 -24 -54 -44 -60 -38 The Group -217 15 -28 -196 -33 24 12 50 -17 -65 -75 Operating margin (EBIT-margin), % Products & Solutions -8 -28 -16 -1 -22 -63 -12 22 -24 -24 -21 Integrations 27 1 12 -52 39 63 59 62 45 25 -31 Autosense -1,810 89 -45 -463 -732 -229 -167 -238 -394 -710 -571 The Group -155 10 -17 -102 -21 9 6 18 -8 -33 -46 Profit/loss before tax, SEK m -238 -5 -51 -196 -47 3 29 12 -16 -78 -86 Profit/loss for the period, SEK m -235 -5 -51 -201 -48 4 28 5 -17 -78 -87 2026 2025 2024
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TOBII AB (PUBL) INTERIM REPORT JANUARY - SEPTEMBER 2026 | 14 The Parent Company The Parent Company's net sales during the quarter totaled SEK 107 million (126) and the operating profit/loss was SEK -187 million (-32). At the end of the period, the Parent Company had SEK 9 million (8) in cash and cash equivalents. CONDENSED PARENT COMPANY INCOME STATEMENT SEK m Q3 2026 Q3 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Dec 2025 Net sales 107 126 362 458 618 Cost of goods and services sold -29 -30 -77 -107 -151 Gross profit 79 96 285 352 466 Selling expenses -22 -32 -73 -103 -130 Research and development expenses -223 -73 -384 -244 -340 Administrative expenses -17 -26 -58 -78 -104 Other operating income and operating expenses -4 2 37 18 89 Operating profit/loss -187 -32 -192 -56 -18 Financial items -18 -10 -194 22 -214 Group Contributions - - - - 0 Profit/loss before tax -205 -42 -386 -34 -233 Tax -1 - -1 - 0 Profit/loss for the period -206 -42 -386 -34 -233
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TOBII AB (PUBL) INTERIM REPORT JANUARY - SEPTEMBER 2026 | 15 CONDENSED PARENT COMPANY BALANCE SHEET SEK m Sept 30 2026 Sept 30 2025 Dec 31 2025 ASSETS NON-CURRENT ASSETS Intangible assets 467 679 659 Tangible fixed assets 3 5 5 Financial assets 645 1,015 759 Total non-current assets 1,115 1,699 1,423 CURRENT ASSETS Accounts receivable 63 100 44 Inventories 29 37 30 Other current receivables 57 44 72 Cash and bank balances 9 8 78 Total current assets 158 188 225 Total assets 1,272 1,888 1,648 EQUITY 187 773 575 LIABILITIES NON-CURRENT LIABILITIES Interest-bearing liabilities 361 555 541 Other non-current liabilities 128 226 159 Total non-current liabilities 489 781 700 CURRENT LIABILITIES Short-term part of Interest-bearing liabilities 277 39 87 Other current liabilities 320 294 286 Total current liabilities 597 334 372 Total liabilities 1,086 1,115 1,072 Total equity and liabilities 1,272 1,888 1,648
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TOBII AB (PUBL) INTERIM REPORT JANUARY - SEPTEMBER 2026 | 16 Notes Note 1. Accounting policies The interim report complies with the provisions of IAS 34, and the report for the Parent Company has been prepared pursuant to the provisions of the Swedish Annual Accounts Act and RFR 2. In addition to the financial statements, disclosures under IAS 34.16A also appear in other parts of the interim report. The accounting policies of the Parent Company and the Group, and the calculation principles used in the report, are unchanged from those used in the most recently published Annual Report, with the exception of the application of new standards. The IASB has published amendments to standards that take effect from January 1, 2026, and onwards. In January 2027, the new IFRS 18 standard will replace IAS 1 Presentation of Financial Statements. IFRS 18 will not affect accounting or valuation principles applied in the financial statements, but its implementation is expected to generate substantial effects on the presentation and disclosed information. Management is currently evaluating the implications of applying the new standard in the financial reports. Aside from IFRS 18, the IASB’s amendments have not had any significant impact on the financial statements. The total amount in tables and statements might not always summarize due to rounding differences. The aim is for each individual line item to correspond to its original source; consequently, rounding differences may occur in the total sum. Note 2. Segments Tobii is reporting three segments, Products & Solutions, Integrations, and Autosense. Net sales, gross profit, gross margin, operating profit/loss (EBIT) and operating margin (EBIT margin) are reported for each segment, which correspond to the key performance indicators monitored by Group Management. PRODUCTS & SOLUTIONS The Products & Solutions segment serves B2B customers, academic clients, and consumers with a comprehensive portfolio of eye tracking solutions, including hardware, insight software, and services. Applications range from advanced research and tools and insights that enhance operational efficiency to engaging gaming experiences. Tobii hardware offering includes eye trackers such as the wearable Tobii Pro Glasses 3 for behavioural research, Tobii Pro Spectrum, Tobii Pro Fusion, and Tobii Pro Spark for eye tracking research, as well as the Tobii Eye Tracker 5 for gaming. From the second quarter 2025 it includes Glasses X, a simple and scalable eye-tracking solution. INTEGRATIONS The Integrations segment provides customers with eye tracking integrated into XR technologies and intuitive screen-based devices. Tobii offers compact platforms, USB devices, and services that ensure lasting integrations and drive innovation. These integrations are deployed in various electronic devices, from gaming laptops and medical and assistive technology to virtual reality headsets and smart glasses. Tobii offers a comprehensive range of integration solutions including screen-based platforms, XR platforms, and Lens Technology, combining software, hardware, and IP components. AUTOSENSE The segment provides advanced interior sensing solutions, including driver and occupant monitoring systems (DMS and OMS) to automotive original manufacturers (OEM). The solutions are integrated into vehicle models via Tier 1 suppliers or directly by Tobii and deployed in both commercial and passenger vehicles. The segment has design wins with several renowned OEMs and Tier-1 suppliers.
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TOBII AB (PUBL) INTERIM REPORT JANUARY - SEPTEMBER 2026 | 17 Note 3. Financial instruments Deferred consideration refers to future payments where the payment is not contingent to future financial or operational targets. Tobii classifies financial assets and liabilities measured at fair value in a hierarchy based on the information used in the valuation of each asset or liability. For level 3 financial instruments, information material to the fair value assessment is not observable and Tobii’s own assessments are applied. Contingent considerations are classified under level 3. CHANGE IN CONTINGENT CONSIDERATIONS Other than the contingent considerations, Tobii has no financial instruments that are measured at fair value through profit or loss. Note 4. Impairment of goodwill Impairment test of goodwill was carried out at the end of the third quarter 2026, and did not result in a need to impair the value of the asset. At the end of the period, goodwill amounted to SEK 43 million (41). Note 5. Pledged assets and contingent liabilities As of September 30, 2026, Tobii has pledged corporate mortgages of SEK 100 (100) million for a credit facility and SEK 300 (300) million referring to a promissory note from Xperi Inc. SEK m Carrying amount Fair value Carrying amount Fair value Carrying amount Fair value Financial liabilities measured at amortized cost Interest-bearing loans 357 357 299 299 342 342 Deferred considerations 117 117 102 102 102 102 Financial liabilities measured at fair value Contingent considerations - - 113 113 46 46 Sept 30 2026 Sept 30 2025 Dec 31 2025 SEK m Liabilities Opening balance Jan 1, 2026 46 Change in fair value reported as other operational income/loss -51 Discounted effect recognized in the consolidated statement of profit or loss 3 Exchange differences 3 Closing balance Sept 30, 2026 0
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TOBII AB (PUBL) INTERIM REPORT JANUARY - SEPTEMBER 2026 | 18 Other information RISKS AND UNCERTAINTY FACTORS Tobii's business risks include the economic climate, the competitive situation, currency risks, credit risks in relation to customers, financing risks, the risk of impairment of capitalized R&D and other intangible assets, and regulatory risks. Tobii's risks and risk management are described in greater detail in the risk section on pages 51-54 and note 3 in the 2025 Annual and Sustainability Report. Tobii is of the opinion that this risk description remains correct. Tobii's Board of Directors and Management have identified an increased risk of insufficient financing for the next 12 months due to lower net sales than anticipated. The Board of Directors and Management are actively working to strengthen Tobii’s balance sheet to meet the Group’s financial obligations. Tobii has several upcoming financial obligations, including the maturity of its bank credit facility in Q4 2026, scheduled repayment of Covid-related tax relief in Q1 2027, and the first installment of the promissory note to Xperi Inc., due in Q2 2027. Tobii is actively evaluating various financing alternatives, including different forms of equity and debt financing. The feasibility and terms of these alternatives depend, among other things, on ongoing negotiations with Xperi Inc. regarding the upcoming purchase price payments for the acquisition of Autosense. There can be no assurance that this will result in any transaction, decision or other action. SEASONALITY Tobii’s operations and net sales are characterized by variations between quarters. The seasonal patterns are different for the segments Product & Solutions and Integrations and there are also regional variations. The fourth quarter is normally the strongest quarter in terms of net sales and profits as the budget year closes in most of Tobii’s geographic markets. ORGANIZATION The average number of full-time employees (FTEs), excluding consultants, was 388 (481) during the period January–September 2026. The decrease was related to the cost reduction programs that were implemented during 2024 and 2025. CHANGES IN BOARD AND GROUP MANAGEMENT Carl Mellander and Charlotta Falvin have, on their own request, left their positions as members of the Board of Directors, in September and October respectively. In connection to this, Jesper Kärrbrink was appointed advisor to the Board. Martin Johansson was appointed acting CFO as of September 30. Martin succeeded Åsa Wirén, interim CFO, who will continue to support Tobii during a transition period. Ulrika Andersson, Vice President People & Growth, left Tobii on September 30. Going forward, this role will no longer be part of the Group Management Team. SHARE CAPITAL AND SHAREHOLDERS Tobii has issued two classes of shares: ordinary shares and C shares. Ordinary shares carry one vote per share while C shares carry one vote per ten shares. The shares have a quotient value of SEK 0.007256934 per share. The purpose of the C-shares is to facilitate settlement of the company’s long-term incentive programs. The C-shares are always included in the company’s balance sheet and Tobii is not allowed to exercise the voting rights for these shares. Hence, in practice there is only one share class exercising its voting rights and available for trading in Tobii´s free float. As of September 30, 2026, the total number of shares in the company amounts to 259,436,350, divided into 235,013,959, ordinary shares and 24,422,391, class C shares. The total number of votes in the company amounts to 237,456,198.1. The share capital is unchanged at SEK 1,882,712.41. As of September 30, 2026, Tobii had 21,764 shareholders. The company’s three largest shareholders were Henrik Eskilsson (5.39% capital and 5.89% votes), Avanza Pension (5.08% capital and 5.55% votes), and Mårten Skogö (4.56% capital and 4.98% votes). For more information about Tobii’s share and ownership structure, see corporate.tobii.com/investors/the-share. FINANCIAL TARGETS AND DIVIDEND POLICY Tobii’s financial targets that were presented in the beginning of 2024 will be replaced with new adjusted targets. The new targets will be presented subsequent to additional strategic review. TRANSACTIONS WITH RELATED PARTIES No transactions have occurred between Tobii and related parties that have had a significant impact on the Group’s financial position or performance. ABOUT THE REPORT This interim report is published in Swedish and English. In the event of discrepancies between the language versions, the Swedish will prevail. REVIEW The report has been reviewed by the Company’s auditors. This report has been signed by the CEO under the authorization of the Board of Directors. Tobii AB (publ) Stockholm, October 22, 2026 Fadi Pharaon CEO
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TOBII AB (PUBL) INTERIM REPORT JANUARY - SEPTEMBER 2026 | 19 Auditor’s report To the Board of directors in Tobii AB (publ), corporate identity number 556613-9654 INTRODUCTION We have conducted a limited review of the condensed interim financial information (interim report) for Tobii AB (publ) as of September 30, 2026, and the nine-month period ending on that date. The board of directors and the managing director are responsible for preparing and presenting this interim report in accordance with IAS 34 and the Swedish Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on our limited review. THE FOCUS AND SCOPE OF LIMITED REVIEW We have conducted our limited review in accordance with the International Standard on Review Engagements ISRE 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity." A limited review consists of making inquiries, primarily of persons responsible for financial and accounting matters, performing analytical procedures, and other review procedures. A limited review has a different focus and a significantly smaller scope compared to the focus and scope of an audit conducted in accordance with ISA and generally accepted auditing standards. The review procedures taken in a limited review do not enable us to obtain the assurance that we would become aware of all significant matters that might have been identified in an audit. Therefore, the conclusion expressed based on a limited review does not have the assurance that a conclusion expressed based on an audit has. CONCLUSION Based on our limited review, nothing has come to our attention that causes us to believe that the interim report is not, in all material respects, prepared for the group in accordance with IAS 34 and the Annual Accounts Act and for the parent company in accordance with the Annual Accounts Act. MATERIAL UNCERTAINTY RELATED TO GOING CONCERN We draw attention to the section “Risks and uncertainty factors” on page 18 in the interim report, where it is stated that the Board of Directors and Management have identified an increased risk of insufficient financing for the next 12 months due to lower net sales than anticipated. The Board of Directors and Management are evaluating various financing alternatives, including equity and debt financing, where the feasibility and terms depend, among other things, on ongoing negotiations with Xperi Inc., with no guarantee that it will result in a transaction, decision or other action. These events or conditions indicate that a material uncertainty exists that may cast significant doubt on the Company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter. Stockholm, 22 October 2026 Öhrlings PricewaterhouseCoopers AB Henrietta Segenmark Authorized Public Accountant
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TOBII AB (PUBL) INTERIM REPORT JANUARY - SEPTEMBER 2026 | 20 Alternative performance measures Alternative Performance Measures (APMs) are key figures not defined by the applicable financial reporting framework (IFRS) or other legislation. They are considered important supplemental measures for the Group. A reconciliation of the APMs included in this interim report is presented below Calculations SEK m Q3 2026 Q3 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Dec 2025 Operating profit/loss (EBIT) -217 -33 -231 2 -194 Amortization and impairment of intangible assets 226 35 331 134 435 Depreciation and impairment of tangible assets 9 10 27 31 40 of which on cost of goods and services sold 1 1 3 4 5 of which on operational expenses 8 9 24 27 35 EBITDA 18 11 127 167 281 Net sales 140 158 458 640 834 EBITDA margin, % 13 7 28 26 34 Operating profit/loss (EBIT) -217 -33 -231 2 -194 Net sales 140 158 458 640 834 Operating margin (EBIT-margin), % -155 -21 -50 0 -23 Gross profit 111 129 375 518 668 Net sales 140 158 458 640 834 Gross margin, % 79 82 82 81 80 Cash and cash equivalents 29 23 29 23 117 Interest-bearing liabilities -563 -563 -563 -563 -598 Net cash (+)/net debt (-) -534 -540 -534 -540 -481 Lease liabilities 70 90 70 90 82 Net cash (+)/net debt (-); excluding leasing -464 -450 -464 -450 -399 Inventories 35 51 35 51 41 Trade receivables 62 101 62 101 61 Other current assets 65 72 65 72 64 Other current liabilities -125 -137 -125 -137 -129 Working capital 37 87 37 87 36
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TOBII AB (PUBL) INTERIM REPORT JANUARY - SEPTEMBER 2026 | 21 Calculations SEK m Q3 2026 Q3 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Dec 2025 Equity attributable to the Parent Company's shareholders 116 589 116 589 393 Average number of outstanding shares 235,013,959 233,971,295 234,857,986 233,785,122 233,873,462 Equity per share, SEK 0 3 0 3 2 Total equity 119 592 119 592 395 Total assets 945 1,534 945 1,534 1,295 Equity/assets ratio, % 13 39 13 39 30 Interest-bearing liabilities 563 563 563 563 598 Total equity 119 592 119 592 395 Debt/Equity, % 473 95 473 95 151
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TOBII AB (PUBL) INTERIM REPORT JANUARY - SEPTEMBER 2026 | 22 Definitions Key performance measures Definition Purpose Gross margin Gross profit in relation to the net sales of the business. Gross margin is used to measure production profitability. EBITDA Operating profit/loss before depreciation, amorti- zation, and impairment. EBITDA is used to measure earnings from opera- ting activities excluding depreciation, amortization, and impairment. EBITDA margin Operating profit/loss before depreciation, amorti- zation, and impairment in relation to the net sales of the business. The EBITDA margin is used to illustrate EBITDA in relation to sales. Operating profit/loss (EBIT) Operating profit/loss before financial income and expenses, and taxes. EBIT is used to measure operating profitability. Operating margin (EBIT margin) Operating profit/loss in relation to the net sales of the business. The EBIT margin is used to illustrate EBIT in rela- tion to sales and is a measure of the company’s profitability. Cash flow from operating activities Cash flow from operating activities including change in working capital and before cash flow from investments and financing activities. Cash flow from operating activities is used as a measure of the cash flow the company generates before investments and financing. Free cash flow Cash flow after continuous investments, meaning cash flow from operating and investment activities, excluding acquisitions and divestments of subsidiaries. Free cash flow is used as a measure of the cash flow generated by the underlying business exclu- ding cash flow from acquisitions, divestments, and the financing activities. Working capital Inventories, trade receivables, other current receivables, prepaid expenses and accrued income less trade payables and other current non interest-bearing liabilities. Working capital is used to measure the company’s capacity to meet its current capital requirements. Net cash (+)/net debt (-) Cash and cash equivalents less interest-bearing liabilities. Net debt represents the company’s capacity to pay off all of its debts should they fall due for payment as of the balance sheet date using the company’s available cash and cash equivalents on the balance sheet date. Organic growth Change in total sales for the period adjusted for acquisitions, divestment, and currency, compared with total sales for the comparative period. Organic growth is used to measure the underlying growth in local currencies of the business. Equity/assets ratio Total equity as a percentage of total assets. The equity/assets ratio shows the percentage of total assets financed by the shareholders through equity. Debt/equity ratio Interest-bearing liabilities divided by total equity. The debt/equity ratio measures the extent to which the company is financed through loans. Equity per share Equity at the end of the period attributable to the Parent Company’s shareholders divided by the number of shares at the end of the period. Equity per share measures the Group’s net value per share. Average number of employees The average number of permanent employees, including part-time employees converted to full- time employment. Average number of employees measures the number of full-time employees in the Group needed to generate the period’s earnings.
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TOBII AB (PUBL) INTERIM REPORT JANUARY - SEPTEMBER 2026 | 23 This is Tobii More than twenty years ago, Tobii pioneered the world’s first plug & play eye tracker. Today we are the global leader in our industry with a mission to improve the world with technology that understands human attention and intent. WHO WE ARE Tobii is a leading developer, manufacturer, and partner on eye tracking and attention computing solutions across various industries worldwide. Around 400 engaged Tobiians drive our diverse organization and develop technologies for the next leap in human computer interaction, turning groundbreaking innovations into reality. WHAT WE DO Our technologies fuel digital transformation across behavioral research, automotive interior sensing, healthcare, assistive tech, gaming and extended reality. Integrated into devices like XR headsets, personal computers, gaming accessories, smart glasses, medical equipment and vehicles. Our solutions empower thousands of enterprises, including global tech and automotive OEMs, as well as leading research institutes, by enhancing product performance, driving innovation, and enabling precise, data-driven insights across various sectors. OUR FOOTPRINT Tobii, headquartered in Stockholm, Sweden, operates in 12 countries across Asia, Europe, and North America. We engage customers directly in key markets and collaborate with resellers in other regions. Leading technology partner in growing markets Global presence in 12 countries ~400 Tobiians Innovative applications based on 1,000+ patents Thousands of business and academic clients FOR MORE INFORMATION, PLEASE CONTACT: Henrik Vikström, Head of Communications (Interim) +46 (0)70 952 80 06, press@tobii.com Martin Johansson, interim CFO +46 (0)79 347 44 54, ir@tobii.com PUBLICATION This interim report comprises such information that Tobii AB is obligated to publish pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act. This information was published through the agency of the people set out above on October 22, 2026, at 7.30 a.m. CEST. WEBCAST PRESENTATION A webcast presentation will be held today at 9.00 a.m. (CEST). To participate, please visit: https://tobii.events.inderes.com/q3-report- 2026 The presentation material and a replay will be available at the investor website afterwards. FORWARD-LOOKING STATEMENTS This interim report contains forward-looking statements based on the Company’s current expectations, assumptions and assessments. Such statements involve risks and uncertainties that may cause actual results to differ materially from those expressed or implied. The Company undertakes no obligation to update forward- looking statements except as required by applicable law or regulation. FINANCIAL CALENDAR Year-end report 2026 February 4, 2027 Interim report Q1 2027 May 12, 2027 Annual General Meeting 2027 May 20, 2027 Half-year report Q2 2027 August 27, 2027 Interim report Q3 2027 November 10, 2027 Year-end report 2027 February 4, 2028 Tobii AB (publ), Corp. Id. No. 556613-9654, Karlsrovägen 2D, SE-182 53 Danderyd, Sweden, phone: +46 (0)8 663 69 90, www.tobii.com