Interim report
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Interim report Q3 / 2026
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Third quarter Third quarter • Sales of SEK 884 (835) million, an organic growth of 6% in local currencies, excluding the exited NACE and GPDx product lines. Total growth was 4% in local currencies and 6% in SEK. • Sales* per region were +11% in EMEA, +5% in Americas and +2% in APAC. • Sales* per product group were +1% in Consumables, +21% in Technologies and +5% in Genetics. • Gross margin increased to 59.2% (58.9). • Earnings before depreciation and amortisation (EBITDA) amounted to SEK 279 (253) million, resulting in an EBITDA margin of 31.6% (30.3). • Net income amounted to SEK 124 (102) million, resulting in earnings per share, before and after dilution, of SEK 0.94 (0.75). • Operating cash flow amounted to SEK 224 (255) million. • Repurchase of own shares of SEK 246 million under the SEK 500 million programme. First nine months • Sales of SEK 2,548 (2,548) million, a growth of 3% in local currencies and flat in SEK, due to a negative currency impact of -3%. Organic growth* was 4%. • Sales* per region were +4% in EMEA, +6% in Americas and +3% in APAC. • Sales* per product group were +4% in Consumables, +11% in Technologies and +1% in Genetics. • Gross margin increased to 59.8% (58.1). • Earnings before depreciation and amortisation (EBITDA) increased to SEK 825 (753) million, resulting in an EBITDA margin of 32.4% (29.5). • Net income was SEK 354 (301) million, resulting in earnings per share, before and after dilution, of SEK 2.64 (2.23). • Operating cash flow amounted to SEK 536 million (475). Events during the period • In July, Vitrolife Group launched a share repurchase programme of up to SEK 500 million, running until the 2027 Annual General Meeting. The programme is part of the Group's efforts to optimise its capital structure and comes in addition to the ordinary dividend. During the quarter, 2,695,000 shares were repurchased for a total of SEK 246 million. As of 30 September 2026, the total number of shares was 135,447,190, of which 2,719,568 were held in treasury. • Erin Schardt has been appointed as Senior Vice President and General Manager, Americas and member of the Executive Management Team. Events after the period • No events have occurred after the end of the period that significantly affect the assessment of the financial information in this report. * In local currency and excluding exited business of the NACE and GPDx product lines Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 2
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The Group’s key figures July - September January - September Full year SEK million* 2026 2025 2026 2025 2025 Net sales 884 835 2,548 2,548 3,440 Gross margin, % 59.2 58.9 59.8 58.1 58.1 Earnings before depreciation and amortisation (EBITDA) 279 253 825 753 949 EBITDA margin, % 31.6 30.3 32.4 29.5 27.6 Net income 124 102 354 301 -5,013 Net debt/EBITDA Rolling 12 months 0.8 0.7 0.8 0.7 0.8 Earnings per share before dilution, SEK 0.94 0.75 2.64 2.23 -37.01 Earnings per share after dilution, SEK 0.94 0.75 2.64 2.23 -37.01 Share price on closing date, SEK 95.10 129.70 95.10 129.70 137.00 Market cap at closing date 12,622 17,564 12,622 17,564 18,553 Changes in net sales Organic growth in local currencies, % 4 3 3 1 2 Currency effects, % 2 -7 -3 -5 -6 Total growth, % 6 -4 0 -4 -5 * Unless otherwise indicated. For further definitions, purposes and reconciliations, see pages 24-26. Net sales and EBITDA margin per quarter Annual organic growth* >10% EBITDA margin >33 % Net debt/EBITDA <3 Long-term financial objectives - 5 years Updated December 2023 * in local currencies Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 3
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Improved growth driven by Technologies CEO comments Third quarter in brief In terms of overall market con - ditions during the quarter, we saw a pickup in cycles in Europe. Americas continues to show solid growth, and APAC is a mixed picture with China cycles down versus last year, however other major markets in APAC are trending positively. Clinics are willing to make capital investments that will improve efficiency and workflow, indicating a more positive outlook on the IVF market. Part of this may be attributable to the fact that reimbursement is improving globally which should eventually lead to an increase in cycle growth. We delivered solid quarterly growth overall, driven by Technologies, which grew by a very strong 21% as we continued to expand global adoption and utilisation of EmbryoScope®. Genetics performed well across the regions, growing 5%, as our focus on key tests and profitable markets improved performance. Consum ables growth of 1% in the quarter was impacted by a strong performance in the same quarter last year, and the phasing of large orders to distributors and clinic chains. We expect it to rebound to normal levels in Q4. Total sales amounted to SEK 884 (835) million, an organic growth* of 6% in the quarter. Gross margin amounted to 59.2% (58.9) positively impacted by a refund of U.S. tariffs, offset by general cost inflation. EBITDA totalled SEK 279 (253) million, an EBITDA margin of 31.6% (30.3). Net income improved to SEK 124 (102) million. Sales* in the EMEA region increased by 11%, with strong growth across the key markets. Genetics and Consumables both performed well in Europe, however, patient demand in the Middle East remains subdued. Technologies delivered a remarkable 22% growth, as clinics invest in EmbryoScope® to improve workflow efficiency.Utilisation is rising, which in turn increases the time-lapse consumables revenue stream. Sales* in the Americas region increased by 5% driven by a strong performance in Consumables and Technologies across the region. Technologies grew 48% as the sales team drives penetration of EmbryoScope® in large clinic chains in North America. Share gains in media is the key driver in Consumables. Genetics continues to perform well in North America, however South America declined due to our strategic decision to exit low-profit customer accounts. This has improved the market contribution of the region. Sales* in the APAC region increased by 2%. Technologies and Genetics performed strongly, with the former increas - ing by 11%, primarily driven by China. Despite the soft market conditions there, we continue to increase Embryo - Scope® adoption in Chinese clinics. A soft quarter for Con - sumables in the region due to the phasing of distributor and large chain orders and a relatively high comparable quarter last year. We are entering the final quarter of the year with strong momentum from Q3 and healthy financials. Our restructuring programme is on plan and on time, with a headcount reduction of 8% related to the programme. The Vitrolife Group is clearly advancing towards its mission of becoming the leading global partner in reproductive health, and I would like to sincerely thank our colleagues for all of their efforts and dedication in driving our company towards the leadership position. Bronwyn Brophy O'Connor CEO * In local currency and excluding exited business of the NACE and GPDx product lines Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 4
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Highlights of third quarter HIGH GROWTH IN TECHNOLOGIES STRONG EARNINGS PER SHARE RESTRUCTURING PROGRAMME ON PLAN AND ON TIME 8% gross reduction headcount 21% organic growth, driven by all regions SEK 0.94 (0.75) Driven by improved net income and the ongoing share repurchase programme Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 5
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Financial summary Third quarter July – September 2026 Net sales and income Sales during the third quarter amounted to SEK 884 (835) million, corresponding to an organic growth of 6% in local currencies, excluding exited business. Total growth was 4% in local currencies and 6% in SEK. The exit of NACE and GPDx reduced sales by 2%, while currency had a positive impact of 2%. Gross income amounted to SEK 523 (492) million, corresponding to a margin of 59.2% (58.9). The gross income was positively impacted by a refund of US tariffs of approximately SEK 9 million, offset by general cost inflation. The market contribution amounted to SEK 323 (300) million, corresponding to a margin of 36.5% (36.0). Operating expenses Operating expenses amounted to SEK 345 (348) million, a decrease of SEK 3 million. Excluding currency effects, operating expenses increased by SEK 10 million, primarily due to higher bad debt provisions and inflation-driven salary increases, partly offset by lower headcount- related salary costs reflecting the ongoing restructur - ing programme. Other operating income and expenses amounted to SEK +4 (-10) million, of which SEK +3 (-11) million related to currency effects. EBITDA Earnings before depreciation and amortisation (EBITDA) amounted to SEK 279 (253) million, corresponding to a margin of 31.6% (30.3). The margin increase was driven by higher sales and improved gross margins. Financial net Financial net amounted to SEK -13 (-13) million. Interest expense was SEK 13 (13) million. Taxes Taxes amounted to SEK -41 (-29) million, and the effective tax rate was 24.6% (22.4). The higher effective tax rate was primarily driven by geographic mix effects. Net income and EPS Net income amounted to SEK 124 (102) million, resulting in earnings per share of SEK 0.94 (0.75). Cash flow Operating cash flow amounted to SEK 224 (255) million. The decrease was mainly explained by a lower contribu - tion from working capital and higher tax paid. Changes in working capital amounted to SEK -5 (37) million in operat - ing cash flow. Tax paid amounted to SEK -46 (-30) million. Cash flow from investing activities was SEK -36 (-58) million. Cash flow from financing activities amounted to SEK -162 (6) million and was affected by the repurchase of own shares of SEK 246 million under the share repurchase programme launched in July, partly offset by new borrow - ings of SEK 100 million. Net sales by geographical segments (rolling 12 months) SEK million Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 6
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Financial position As of 30 September 2026, net debt was SEK 743 (770) million, and cash and cash equivalents amounted to SEK 860 (1,109) million. The repurchase of own shares of SEK 246 million contributed to the change during the quarter. Total assets amounted to SEK 11,421 million, compared with SEK 11,124 million at the end of December 2025. Equity amounted to SEK 8,118 million at the end of September 2026, compared with SEK 7,895 million at the end of December 2025. The available undrawn revolving credit facility amounted to EUR 161 (133) million as of 30 September 2026. Net debt to EBITDA, rolling 12 months, amounted to 0.8 (0.7). Parent Company Business activities focus on Group-wide management. Income included invoicing of management fees and other costs of SEK 2 (3) million to subsidiaries. Financial items amounted to SEK 0 (-3) million. Cash and cash equivalents amounted to SEK 645 (808) million. First nine months January – September 2026 Net sales and income Sales amounted to SEK 2,548 (2,548) million, corre - sponding to 3% growth in local currencies and flat in SEK. Currency had a negative impact of 3%, mainly driven by a stronger SEK against other currencies. Organic growth in local currencies, excluding exited business of the NACE and GPDx product lines, was 4%. Gross income amounted to SEK 1,523 (1,480) million, corresponding to a margin of 59.8% (58.1). The market contribution amounted to SEK 945 (902) million, corre - sponding to a margin of 37.1% (35.4). Operating expenses Operating expenses amounted to SEK 999 (1,049) million. Other operating income and expenses amounted to SEK +23 (-25) million. Operating expenses decreased by SEK 50 million, reflecting the positive impact of the ongoing restructuring programme, partly offset by inflation-driven salary increases and higher bad debt provisions. In addition, other operating income and expenses benefited from positive currency effects. EBITDA Earnings before depreciation and amortisation (EBITDA) amounted to SEK 825 (753) million, corresponding to a margin of 32.4% (29.5). The margin increase was driven by improved gross margins and lower operating expenses. Financial net Financial net amounted to SEK -51 (-27) million. The increase is explained by negative currency effect on loans . Interest expense was SEK 36 (45) million. Taxes Taxes amounted to SEK -120 (-103) million, and the effective tax rate was 25.3% (25.4). Net income and EPS Net income increased to SEK 354 (301) million. Earnings per share (EPS) amounted to SEK 2.64 (2.23). Cash flow Cash flow from operating activities amounted to SEK 536 (475) million. Changes in working capital amounted to SEK -116 (-97) million in operating cash flow. The tax paid amounted to SEK -107 (-181) million. Cash flow from investing activities was SEK -140 (-227) million. Cash flow from financing activities amounted to SEK -389 (-191) million. Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 7
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Market region EMEA July - September Sales in EMEA amounted to SEK 333 (309) million, corresponding to an organic growth of 11%, excluding exited business, and an increase of 8% in SEK. Growth was strong across the key markets. Genetics and Consumables both performed well in Europe, while patient demand in the Middle East remained subdued due to the continued geopolitical uncertainty in the region. Technologies grew by 22%, Genetics by 15%* and Consumables by 2% in local currencies. The growth in Technologies increased as clinics invest in EmbryoScope® to improve workflow efficiency. Rising utilisation increases the time-lapse consumables revenue stream. Gross income amounted to SEK 203 (192) million, corresponding to a margin of 61.2% (62.0). Market contribution was SEK 126 (123) million, with a margin of 38.0% (39.9). January - September Sales in EMEA amounted to SEK 963 (970) million, repre - senting an increase of 4%* and a decrease of 1% in SEK. Sales in Consumables increased by 2% in local currencies, Technologies grew by 7%, and Genetics increased by 3%*. Gross income amounted to SEK 594 (586) million, corresponding to a margin of 61.6% (60.4). Market contribution was SEK 373 (368) million, with a margin of 38.7% (38.0). Revenue by market region July-September 2026 Revenue per product group in EMEA July-September 2026 July - September January - September Full year SEK million 2026 2025 2026 2025 2025 Net sales, whereof: 333 309 963 970 1,302 Consumables 138 134 421 421 564 Technologies 94 77 252 237 326 Genetics 100 98 291 311 413 Gross income 203 192 594 586 781 Selling expenses -77 -68 -221 -218 -318 Market contribution 126 123 373 368 463 EMEA 38% Consumables 42% Americas 33% Technologies 28% APAC 29% Genetics 30% * In local currency and excluding exited business of the NACE and GPDx product lines Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 8
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Revenue by market region July-September 2026 Market region Americas July - September Sales in the Americas amounted to SEK 292 (276) million, corresponding to an organic growth of 5%, excluding exited business, and an increase of 5% in SEK. Growth was driven by a strong performance in Consumables and Technologies across the region. Sales in Consumables increased by 8% in local currencies and Technologies grew by 48%. North America, a key focus market, continued to perform well with double-digit growth. Growth was particularly strong in Technologies, driven by increased EmbryoScope® penetration in large clinic chains. Genetics declined by 1%*. Genetics again performed well in North America, while South America declined following a strategic decision to exit low-profit accounts and increase focus on Consumables and Technologies. The decision significantly affected sales in South America but improved profitability for both the region and the company overall. Gross income amounted to SEK 161 (149) million, corresponding to a margin of 55.1% (54.0). Market contribution was SEK 86 (72) million, with a margin of 29.3% (26.0). January - September Sales in Americas amounted to SEK 847 (842) million, representing an increase of 6%* and an increase of 1% in SEK. Sales in Consumables increased by 13% in local currencies, Technologies grew by 30%, and Genetics declined by 1%*. Gross income amounted to SEK 477 (454) million, corresponding to a margin of 56.3% (54.0). Market contribution was SEK 252 (226) million, with a margin of 29.8% (26.8). July - September January - September Full year SEK million 2026 2025 2026 2025 2025 Net sales, whereof: 292 276 847 842 1,141 Consumables 78 71 234 217 290 Technologies 28 19 89 70 109 Genetics 185 187 525 555 741 Gross income 161 149 477 454 621 Selling expenses -75 -77 -225 -229 -312 Market contribution 86 72 252 226 309 Revenue per product group in Americas July-September 2026 Consumables 27% Technologies 10% Genetics 63% EMEA 38% Americas 33% APAC 29% * In local currency and excluding exited business of the NACE and GPDx product lines Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 9
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Market region APAC July - September APAC sales amounted to SEK 260 (250) million, up 2% in local currencies and 4% in SEK. Growth in China and India was partly offset by lower sales in Southeast Asia and the Pacific. Genetics and Technologies performed well, with Genetics growing by 8% and Technologies by 11%. Growth in Technologies was driven primarily by China, the region’s largest IVF market. Sales in Consumables decreased by 5% in local currencies, reflecting strong comparables and the phasing of distributor orders. Gross income amounted to SEK 159 (151) million, corre - sponding to a margin of 61.1% (60.4). Market contribution was SEK 111 (105) million, with a margin of 42.8% (42.1). January - September Sales in APAC amounted to SEK 737 (737) million, representing an increase of 3% in local currencies and flat in SEK. Sales in Consumables increased by 1% in local currencies, Technologies grew by 7%, and Genetics increased by 2%*. Gross income amounted to SEK 452 (439) million, corresponding to a margin of 61.3% (59.6). Market contribution was SEK 320 (309) million, with a margin of 43.4% (41.8). July - September January - September Full year SEK million 2026 2025 2026 2025 2025 Net sales, whereof: 260 250 737 737 997 Consumables 129 131 389 386 514 Technologies 67 60 180 172 248 Genetics 63 59 168 179 235 Gross income 159 151 452 439 595 Selling expenses -48 -46 -132 -131 -176 Market contribution 111 105 320 309 419 Revenue by market region July-September 2026 Revenue per product group in APAC July-September 2026 Consumables 50% Technologies 26% Genetics 24% EMEA 38% Americas 33% APAC 29% * In local currency and excluding exited business of the NACE and GPDx product lines Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 10
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This is the Vitrolife Group Global provider of medical devices and genetic testing solutions for reproductive health. Employees by end of Q3 1,088 Global presence in ~ 125 markets Sales 2025 3,440 MSEK The Vitrolife Group in figures Our brands Igenomix specialises in reproductive genetic testing, providing advanced diagnostics that support personalised fertility care. The science-driven solutions help identify genetic risks, optimise embryo evaluation and assess optimal endometrial health. In collaboration with clinics and fertility specialists worldwide, we advance the understanding of human reproduction together. Vitrolife delivers innovative, high-quality products to ensure optimal care at every stage of the IVF journey, from oocyte retrieval to embryo evaluation, and cryopreservation. Trusted by fertility clinics worldwide, Vitrolife combines scientific excellence with reliable technologies like time-lapse imaging, and error prevention systems. Solutions that are optimised to increase efficiency and clinical outcomes. Corporate Strategy We will focus on five strategic priorities to drive sustainable profitable growth: • Own the platform connecting products and services • Innovate to expand leadership • Accelerate growth in key markets • Optimise go-to-market model • Drive operational excellence Underpinning these strategic priorities is our commitment to ensuring sustainability in everything we do. Vision with a purpose ”Enable people to fulfil the dream of having a healthy baby” ”Be the leading global partner in reproductive health, striving for better treatment outcomes for patients” Mission Additional information on www.vitrolifegroup.com. Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 11
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Prospects In the coming years the number of IVF cycles is expected to increase mid-single digit globally. The main drivers for the growth are declining fertility rates for both females and males, improved reimbursement and coverage and supportive government policy due to population decline. For clinic partners like the Vitrolife Group, there is an additional opportunity to increase the adoption of genetic testing and EmbryoScope®, as well as market share oppor tunities for consumable products. An uncertain macroeconomic environment may pose challenges to cycle number as fertility treatment costs are comparatively high in certain parts of the world. However, as coverage and reimbursement continue to increase, this will lessen out-of-pocket expenses over time, making the indus - try less exposed to macroeconomic fluctuations. From a short-term perspective, the demand for the products and services of the Vitrolife Group may be impacted by the general macroeconomic environment, for example trade barriers, sanctions, inflation and consumer confidence. Other information PGT-A Test Class Action Lawsuit in the U.S. On February 25, 2026, a U.S. District Judge issued an order dismissing Vitrolife Group and Vitrolife AB from the case without prejudice. For the remaining defendants, Igenomix USA Inc and Vitrolife Inc, the court has directed certain claims, relating to implied and express warranties and unjust enrichment, to arbitration. All other claims are stayed pending the outcome of that arbitration process. Vitrolife Group, together with its legal counsel in North America, will continue to monitor the proceedings and provide updates as the process develops. No impact on the financial statements in this report. Organisation and personnel During the quarter, the average number of employees was 1,101 (1,138), of whom 632 (676) were women and 470 (462) were men. Of these, 200 (203) persons were employed in Sweden, 212 (221) in Spain, 48 (60) in Brazil, 208 (209) in the U.S., 108 (118) in Denmark, 46 (54) in Japan, and 280 (273) in the rest of the world. The average number of em - ployees includes consultants in permanent, long-term roles integrated into operations, while project-based or temporary consultants are excluded. This definition applies from Q1 2026, with historical figures restated accordingly. The number of persons employed in the Group at the end of the period was 1,088 (1,151). Information on transactions with related parties At the Annual General Meeting in 2026 it was resolved to issue a long-term share based incentive programme to some members of the group included in related parties. Otherwise no transactions substantially affecting the results and financial position were conducted with related parties in the period. Risk management The most important strategic and operational risks regarding the Vitrolife Group’s business are described in the Management Report in the Annual Report for 2025. These are primarily macroeconomic risks, operational risks and financial risks. The management of risks is also described in the Corporate Governance Report in the same Annual Report. The risks, as described in the 2025 Annual Report, are deemed to be essentially unchanged. Seasonal effects Seasonal effects have an impact on the Vitrolife Group’s sales. During holiday periods there is often a reduction in demand for our products and services. Technologies sales are also impacted by the timing of installations. For the Vitrolife Group, sales in the first quarter are negatively impacted by the calendar New Year holidays in EMEA and Americas and the Chinese New Year in APAC. Easter holiday can appear in the first or second quarter. The third quarter is impacted by the summer holiday period. The fourth quarter is normally the strongest quarter in all regions. Total sales in the second half are slightly higher due to the impact of strong sales in the fourth quarter and a larger number of working days in the second half of the year. Quarterly cut-off in weekends and holidays can impact selling days and sales in a specific quarter. Events after the end of the period No events have occurred after the end of the period that significantly affect the assessment of the financial information in this report. 22 October 2026 Gothenburg, Sweden Bronwyn Brophy O’Connor CEO Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 12
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Auditors Review Report Introduction We have reviewed the interim report for Vitrolife AB (publ), corporate identity number 556354-3452, for the period January 1 - September 30, 2026. The Board of Directors and the CEO are responsible for the preparation and presentation of this interim report in accordance with IAS 34 and the Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on our review. Scope of Review We conducted our review in accordance with the Inter - national Standard on Review Engagements ISRE 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity. A review consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review has a different focus and is substantially less in scope than an audit conducted in accordance with ISA and other generally accepted auditing practices. The procedures performed in a review do not enable us to obtain a level of assurance that would make us aware of all significant matters that might be identified in an audit. Therefore, the conclusion expressed based on a review does not give the same level of assurance as a conclusion expressed based on an audit. Conclusion Based on our 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 accord - ance with IAS 34 and the Annual Accounts Act, and for the Parent Company in accordance with the Annual Accounts Act. Gothenburg, October 22, 2026 Deloitte AB Signed on Swedish original Anneli Pihl Authorized Public Accountant Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 13
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Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 14 Consolidated income statements July - September January - September Full year SEK million Note 2026 2025 2026 2025 2025 Net sales 4 884 835 2,548 2,548 3,440 Cost of sales -361 -343 -1,025 -1,068 -1,443 Gross income 523 492 1,523 1,480 1,997 Selling expenses -200 -191 -578 -577 -806 Administrative expenses -121 -120 -353 -365 -512 Research and development expenses -28 -27 -90 -82 -118 Other operating income and expenses 4 -10 23 -25 -5,396 Operating income 5 178 144 524 431 -4,835 Financial income and expenses -13 -13 -51 -27 -51 Income after financial items 165 131 474 404 -4,886 Income taxes -41 -29 -120 -103 -127 Net income 124 102 354 301 -5,013 Attributable to Parent Company shareholders 127 102 356 301 -5,012 Non-controlling interests -2 0 -2 0 0 Earnings per share before dilution, SEK 0.94 0.75 2.64 2.23 - 37.0 1 Earnings per share after dilution, SEK 0.94 0.75 2.64 2.23 - 37.0 1 Average number of shares outstanding, before dilution 134,086,364 135,422,622 134,972,308 135,422,622 135,422,622 Average number of shares outstanding, after dilution 134,086,364 135,422,622 134,972,308 135,422,622 135,422,622 Number of shares at closing date 132,727,622 135,422,622 132,727,622 135,422,622 135,422,622 Statements of comprehensive income July - September January - September Full year SEK million 2026 2025 2026 2025 2025 Net income 124 102 354 301 -5,013 Other comprehensive income Items that may be reclassified to the income statement Exchange differences 106 -87 256 -504 -600 Total other comprehensive income 106 -87 256 -504 -600 Comprehensive income 230 15 610 -203 -5,612 Attributable to Parent Company shareholders 231 15 612 -202 -5,611 Non-controlling interests -1 0 -1 -1 -1
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Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 15 Consolidated statements of financial position SEK million Note 30 Sep 2026 30 Sep 2025 31 Dec 2025 Assets Non-current assets 2 Goodwill 4,537 9,836 4,443 Other intangible assets 3,833 4,031 3,835 Property, plant and equipment 552 435 515 Other financial assets 89 87 86 Deferred tax assets 153 155 153 Total non-current assets 9,164 14,544 9,031 Current assets Inventories 447 428 413 Trade receivables 772 617 665 Current tax assets 38 46 64 Other receivables 57 51 67 Prepaid expenses and accrued income 83 58 74 Cash and cash equivalents 860 1,109 809 Total current assets 2,257 2,310 2,092 Total assets 11,421 16,854 11,124 Equity Equity attributable to Parent Company shareholders 8,118 13,300 7,894 Non-controlling interests 0 1 1 Total equity 8,118 13,302 7,895 Liabilities Non-current liabilities 2 Provisions 61 54 55 Deferred tax liabilities 943 976 955 Borrowings 1,603 1,879 1,490 Lease liabilities 75 78 72 Other liabilities 8 42 42 Total non-current liabilities 2,690 3,028 2,614 Current liabilities Provisions 12 – 51 Lease liabilities 47 45 43 Trade payables 185 167 208 Current tax liabilities 49 25 15 Other liabilities 90 79 80 Accrued expenses and deferred income 229 208 218 Total current liabilities 613 525 615 Total liabilities 3,303 3,553 3,228 Total equity and liabilities 11,421 16,854 11,124
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Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 16 Consolidated changes in equity Attributable to Parent Company shareholders Non- controlling interests Total equity Share capital Other contributed capital Reserves Retained earnings SEK million Opening balance 1 January 2025 28 13,544 1,676 -1,608 2 13,641 Income for the year – – – 301 0 301 Other comprehensive income – – -503 – -1 -504 Total comprehensive income for the period – – -503 301 -1 -203 Equity compensation benefits – – – 11 – 11 Dividend (SEK 1.10 per share) – – – -149 – -149 Closing balance 30 September 2025 28 13,544 1,173 -1,444 1 13,302 Opening balance 1 January 2026 28 13,544 1,077 -6,755 1 7,895 Income for the year – – – 356 -2 354 Other comprehensive income – – 255 – 1 256 Total comprehensive income for the period – – 255 356 -1 610 Equity compensation benefits – – – 7 – 7 Dividend (SEK 1.10 per share) – – – -149 – -149 Repurchase of own shares – – – -246 – -246 Closing balance 30 September 2026 28 13,544 1,332 -6,786 0 8,118
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Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 17 Consolidated cash flow statements July - September January - September Full year SEK million 2026 2025 2026 2025 2025 Income after financial items 165 131 474 404 -4,886 Adjustment for non-cash items 110 117 285 349 5,860 Tax paid -46 -30 -107 -181 -244 Change in inventories 0 0 -16 -28 -20 Change in operating receivables -15 35 -79 -42 -148 Change in operating payables 10 1 -21 -28 72 Cash flow from operating activities 224 255 536 475 635 Cash flow from losing control of subsidiaries -1 – -1 – – Net investments in non-current assets -35 -58 -113 -195 -270 Additional purchase consideration – – -25 -31 -31 Cash flow from investing activities -36 -58 -140 -227 -302 Repayment of borrowings - -1,841 -55 -1,895 -2,245 Borrowings 100 1,870 100 1,900 1,899 Set-up fee borrowings -3 -11 -3 -11 -11 Repayment of lease liabilities -12 -13 -36 -36 -48 Repurchase of own shares -246 – -246 – – Dividends paid – – -149 -149 -149 Cash flow from financing activities -162 6 -389 -191 -553 Cash flow for the period 26 203 7 57 -220 Opening cash and cash equivalents 823 921 809 1,135 1,135 Exchange difference in cash and cash equivalents 11 -16 44 -83 -106 Closing cash and cash equivalents 860 1,109 860 1,109 809 Key ratios July - September January - September Full year 2026 2025 2026 2025 2025 Gross margin, % 59.2 58.9 59.8 58.1 58.1 Operating margin before depreciation and amortisation (EBITDA), % 31.6 30.3 32.4 29.5 2 7.6 Operating margin before amortisation (EBITA), % 28.9 2 7.6 29.7 26.9 25.0 Operating margin (EBIT), % 20.2 1 7. 2 20.6 16.9 -140.6 Net margin, % 14.1 12.2 13.9 11.8 -145.7 Equity/assets ratio, % 71.1 78.9 71.1 78.9 71.0 Equity per share, SEK 61.16 98.21 61.16 98.21 58.29 Return on equity, % -61.6 3.3 -61.6 3.3 -42.1 Cash flow from operating activities per share before dilution, SEK 1.67 1.88 3.97 3.51 4.69 Cash flow from operating activities per share after dilution, SEK 1.67 1.88 3.97 3.51 4.69 Net debt*, SEK million 743.3 769.8 743.3 769.8 680.4 * Negative amount implies net claim. For definitions, purposes and reconciliations, see pages 24-26.
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Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 18 Income statements for the Parent Company July - September January - September Full year SEK million 2026 2025 2026 2025 2025 Net sales 2 3 12 15 15 Administrative expenses -8 -10 -31 -32 -45 Other operating income and expenses 0 0 0 -1 0 Operating income -6 -8 -19 -18 -29 Dividends from Group companies - 1 192 147 847 Result from participations in Group companies - - - - -5,300 Financial income and expenses 0 -3 1 -3 -9 Income after financial items -5 -9 174 126 -4,491 Group contribution received - - - - 130 Income taxes 1 2 2 3 -22 Net income -4 -7 176 128 -4,382 Depreciation and amortisation had a negative effect of SEK 0 (0) million on income for the third quarter, and SEK 0 (0) million on income for the period. Balance sheets for the Parent Company SEK million 30 Sep 2026 30 Sep 2025 31 Dec 2025 ASSETS Other intangible assets 10 11 11 Property, plant and equipment 0 0 0 Participations in Group companies 7,589 12,848 7, 55 3 Other financial assets 50 46 46 Receivables from Group companies, non-current 1,403 1,369 1,339 Deferred tax assets 8 9 6 Receivables from Group companies, current 353 211 185 Current tax receivables 13 16 – Other current receivables – 1 5 Prepaid expenses and accrued income 8 7 1 Cash and cash equivalents 645 808 623 Total assets 10,079 15,326 9,769 EQUITY AND LIABILITIES Equity 7, 23 6 11,952 7, 4 4 8 Provisions 32 28 29 Borrowings, non-current 1,563 1,840 1,452 Other non-current liabilities 2 26 26 Current tax liabilities – – 6 Trade payables 1 1 1 Liabilities to Group companies, current 1,205 1,441 775 Other current liabilities 26 21 23 Accrued expenses and deferred income 13 17 9 Total equity and liabilities 10,079 15,326 9,769
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Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 19 Note 1. Accounting Principles This interim report has been prepared for the Group in accordance with the Annual Accounts Act and IAS 34, Interim Financial Reporting, and for the Parent Company in accordance with the Annual Accounts Act and recommendation RFR 2 of the Swedish Financial Reporting Board, Accounting for Legal Entities. Unless otherwise stated below, the accounting principles applied to the Group and the Parent Company are consistent with the accounting principles used in the presentation of the most recent Annual Report. No standards, amendments or interpretations have come into force in 2026 that are expected to have any material impact on the Group. All figures, unless otherwise stated, are rounded off to the nearest million. Rounding affects total figures, which is why the figures in some tables may appear not to add up. Note 2. Financial instruments - Fair value Fair value has been calculated for all financial assets and liabilities in accordance with IFRS 13. The fair value of other financial assets, trade receivables, cash and cash equivalents, trade payables, other financial liabilities, lease liabilities and borrowings is estimated to correspond with their carrying amounts (amortised cost). As the Vitrolife Group has loans with variable interest rates, the fair value is estimated to correspond with the carrying amount. Financial assets and liabilities measured at amortised cost amount to SEK 1,676 (1,774) million and SEK 1,924 (2,174) million. Classified in level 3 are liabilities which relate to contingent considerations, for which fair value have been estimated in cases where the time for settlement can be determined with certainty and the effect on Group level is material. Calculation is performed by future expected payments being discounted by current market rates adjusted for risk premium for the duration of the liability. Financial liabilities at fair value through profit or loss regarding contingent considerations amount to SEK 27 (46) million. Note 3. Pledged assets and contingent liabilities SEK million 30 Sep 2026 30 Sep 2025 31 Dec 2025 Group Pledged assets 45 57 58 Contingent liabilities 21 17 15 Parent Company Pledged assets 24 21 23 Contingent liabilities 7 5 5 Pledged assets pertain to floating charges for own commitments and collateral pledged for endowment insurance plans (cost). Contingent liabilities refer to guarantees to external parties and the difference between market value and carrying amount of endowment insurance plans. Note 4. Sales and segment reporting The Vitrolife Group reports its segments in three geographical regions with net sales and market contribution per geographical segment. Market contribution is defined as gross income less selling expenses for each market. Administrative expenses, research and development expenses, other operating income and expenses and net financial items are not distributed by segment. The balance sheet is not monitored by segment. Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker (CODM). The CODM is the function that is responsible for allocating resources and assessing the performance of the operating segments. For the Group, this function has been identified as the CEO. Sales is also monitored in the three product groups whose products and services are sold by the three geographical market organisations. Sales per segment, products and services The Vitrolife Group’s sales consist of products and services, which clearly represent separate performance obligations. Sales of products are recognised as revenue when the risk is transferred to the customer. Services are mainly services for genetic testing within the Genetics product group. Services are recognised as revenue on delivery of the test results to the customer. The Vitrolife Group also sells maintenance services, primarily for products within the Technologies product group. Servicing is largely invoiced in advance and is recognised as revenue over the period of the servicing contract. The Vitrolife group also sells software licenses for which revenue is recognized proportionally over the contract period. Net sales, products and services SEK million Jul-Sep 2026 Jul-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Dec 2025 Products 522 483 1,525 1,480 2,020 Services 361 352 1,023 1,069 1,420 Total 884 835 2,548 2,548 3,440
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Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 20 Note 4. Continued Net sales per geographical segment and product group EMEA Americas APAC Total SEK million Jul-Sep 2026 Jul-Sep 2025 Jul-Sep 2026 Jul-Sep 2025 Jul-Sep 2026 Jul-Sep 2025 Jul-Sep 2026 Jul-Sep 2025 Consumables 138 134 78 71 129 131 345 336 Technologies 94 77 28 19 67 60 190 155 Genetics 100 98 185 187 63 59 348 344 Total 333 309 292 276 260 250 884 835 Whereof Sweden 6 6 6 6 EMEA Americas APAC Total SEK million Jan-Sep 2026 Jan-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 Consumables 421 421 234 217 389 386 1,043 1,025 Technologies 252 237 89 70 180 172 520 479 Genetics 291 311 525 555 168 179 984 1,045 Total 963 970 847 842 737 737 2,548 2,548 Whereof Sweden 26 19 26 19 EMEA Americas APAC Total SEK million Full year 2025 Full year 2025 Full year 2025 Full year 2025 Consumables 564 290 514 1,368 Technologies 326 109 248 684 Genetics 413 741 235 1,389 Total 1,302 1,141 997 3,440 Whereof Sweden 25 25 EMEA Americas APAC Total SEK million Jul-Sep 2026 Jul-Sep 2025 Jul-Sep 2026 Jul-Sep 2025 Jul-Sep 2026 Jul-Sep 2025 Jul-Sep 2026 Jul-Sep 2025 Net sales 333 309 292 276 260 250 884 835 Gross income 203 192 161 149 159 151 523 492 Selling expenses -77 -68 -75 -77 -48 -46 -200 -191 Market contribution 126 123 86 72 111 105 323 300 Administrative expenses -121 -120 Research and development expenses -28 -27 Other operating income and expenses 4 -10 Operating income 178 144 Net financial items -13 -13 Income after financial items 165 131 EMEA Americas APAC Total SEK million Jan-Sep 2026 Jan-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 Net sales 963 970 847 842 737 737 2,548 2,548 Gross income 594 586 477 454 452 439 1,523 1,480 Selling expenses -221 -218 -225 -229 -132 -131 -578 -577 Market contribution 373 368 252 226 320 309 945 902 Administrative expenses -353 -365 Research and development expenses -90 -82 Other operating income and expenses 23 -25 Operating income 524 431 Net financial items -51 -27 Income after financial items 474 404
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Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 21 EMEA Americas APAC Total SEK million Full year 2025 Full year 2025 Full year 2025 Full year 2025 Net sales 1,302 1,141 997 3,440 Gross income 781 621 595 1,997 Selling expenses -318 -312 -176 -806 Market contribution 463 309 419 1,190 Administrative expenses -512 Research and development expenses -118 Other operating income and expenses -5,396 Operating income -4,835 Net financial items -51 Income after financial items -4,886 Net sales growth in local currency Consumables EMEA Americas APAC Total Jul-Sep 2026 Jan-Sep 2026 Jul-Sep 2026 Jan-Sep 2026 Jul-Sep 2026 Jan-Sep 2026 Jul-Sep 2026 Jan-Sep 2026 Organic growth in local currency, SEK million 3 8 6 28 -7 5 2 42 Organic growth in local currency, % 2% 2% 8% 13% -5% 1% 1% 4% Currency effects, SEK million 0 -9 2 -12 5 -2 7 -24 Currency effects, % 0% -2% 2% -6% 4% -1% 2% -2% Total growth, SEK million 3 -1 7 16 -1 2 9 18 Total growth, % 3% 0% 10% 8% -1% 1% 3% 2% Technologies EMEA Americas APAC Total Jul-Sep 2026 Jan-Sep 2026 Jul-Sep 2026 Jan-Sep 2026 Jul-Sep 2026 Jan-Sep 2026 Jul-Sep 2026 Jan-Sep 2026 Organic growth in local currency, SEK million 17 17 9 21 6 12 32 50 Organic growth in local currency, % 22% 7% 48% 30% 11% 7% 21% 11% Currency effects, SEK million 1 -3 1 -2 1 -4 3 -9 Currency effects, % 1% -1% 4% -2% 2% -2% 2% -2% Total growth, SEK million 17 14 10 19 8 8 35 41 Total growth, % 23% 6% 52% 28% 13% 5% 23% 9% Genetics EMEA Americas APAC Total Jul-Sep 2026 Jan-Sep 2026 Jul-Sep 2026 Jan-Sep 2026 Jul-Sep 2026 Jan-Sep 2026 Jul-Sep 2026 Jan-Sep 2026 Organic growth in local currency, SEK million 2 -12 -5 -10 5 2 1 -20 Organic growth in local currency, % 2% -4% -3% -2% 8% 1% 0% -2% Currency effects, SEK million 1 -7 4 -20 -1 -13 4 -40 Currency effects, % 1% -2% 2% -4% -2% -7% 1% -4% Total growth, SEK million 3 -20 -2 -30 3 -11 4 -60 Total growth, % 3% -6% -1% -5% 6% -6% 1% -6% Organic growth excluding exited business Organic growth in local currency, SEK million 13 8 -1 -3 5 3 16 7 Organic growth in local currency, % 15% 3% -1% -1% 8% 2% 5% 1% Note 4. Continued
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Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 22 Total Vitrolife Group EMEA Americas APAC Total Jul-Sep 2026 Jan-Sep 2026 Jul-Sep 2026 Jan-Sep 2026 Jul-Sep 2026 Jan-Sep 2026 Jul-Sep 2026 Jan-Sep 2026 Organic growth in local currency, SEK million 22 13 9 39 4 20 35 72 Organic growth in local currency, % 7% 1% 3% 5% 2% 3% 4% 3% Currency effects, SEK million 2 -20 6 -33 6 -20 14 -73 Currency effects, % 1% -2% 2% -4% 2% -3% 2% -3% Total growth, SEK million 24 -6 15 6 10 0 49 -1 Total growth, % 8% -1% 5% 1% 4% 0% 6% 0% Organic growth excluding exited business Organic growth in local currency, SEK million 33 33 13 46 4 20 50 99 Organic growth in local currency, % 11% 4% 5% 6% 2% 3% 6% 4% Note 5. Amortisations and depreciations SEK million Jul-Sep 2026 Jul-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 Full year 2025 Cost of sales 38 44 117 132 174 Selling expenses 53 54 157 158 212 Administrative expenses 8 9 25 26 34 Research and development expenses 1 4 3 5 7 Other operating expenses - - - - 5,357 Total 101 110 301 322 5,784 whereof acquisition related amortisations Cost of sales 20 20 60 61 81 Selling expenses 45 45 132 134 179 Total 66 66 191 195 260
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Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 23 Consolidated income statements per quarter Jul-Sep Apr-Jun Jan-Mar Oct-Dec Jul-Sep Apr-Jun Jan-Mar Oct-Dec SEK million 2026 2026 2026 2025 2025 2025 2025 2024 Net sales 884 857 807 891 835 871 842 959 Cost of sales -361 -340 -324 -374 -343 -366 -359 -373 Gross income 523 517 483 517 492 505 483 586 Selling expenses -200 -184 -194 -229 -191 -203 -183 -199 Administrative expenses -121 -115 -117 -148 -120 -130 -115 -142 Research and development expenses -28 -30 -32 -35 -27 -29 -26 -28 Other operating income and expenses 4 10 9 -5,371 -10 -6 -9 8 Operating income 178 197 149 -5,266 144 137 151 225 Financial income and expenses -13 -18 -20 -23 -13 -5 -10 -43 Income after financial items 165 179 130 -5,290 131 132 141 182 Income taxes -41 -50 -29 -24 -29 -32 -41 -43 Net income 124 129 101 -5,314 102 100 100 139 Attributable to Parent Company shareholders 127 129 101 -5,314 102 100 100 139 Non-controlling interests -2 0 0 0 0 0 -1 0 Depreciation and amortisation -101 -98 -102 -5,462 -110 -106 -107 -112 EBITDA 279 295 251 196 253 243 257 337 EBITDA margin 31.6% 34.4% 31.1% 22.0% 30.3% 27.8% 30.6% 35.1% EBITA 255 272 230 175 231 220 235 313 EBITA margin 28.9% 31.7% 28.5% 19.6% 2 7.6% 25.2% 2 7.9 % 32.6% Key ratios per quarter Jul-Sep Apr-Jun Jan-Mar Oct-Dec Jul-Sep Apr-Jun Jan-Mar Oct-Dec 2026 2026 2026 2025 2025 2025 2025 2024 Equity attributable to Parent Company shareholders, SEK million 8,118 8,131 8,069 7,894 13,300 13,281 13,125 13,639 Equity per share, SEK 61.16 60.04 59.58 58.29 98.21 98.07 96.92 100.71 Return on equity, % -61.6 -53.3 - 47.1 -42.1 3.3 3.4 3.8 3.9 Cash flow from operating activities per share before dilution, SEK 1.67 1.03 1.27 1.18 1.88 1.12 0.51 1.98 Cash flow from operating activities per share after dilution, SEK 1.67 1.03 1.27 1.18 1.88 1.12 0.51 1.97
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Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 24 Alternative performance measures This report includes certain performance measures not defined in IFRS, but they are included in the report as company management considers that this information makes it easier for investors to analyse the Group’s financial performance and position. Investors should regard these alternative performance measures as complementing rather than replacing financial information in accordance with the IFRS. Please note that the Vitrolife Group’s definitions of these performance measures may differ from other companies’ definitions of the same terms. The following definitions describe the performance measures that are used, referred to and presented in the financial reports. Measures that can be found directly in the financial reports and can be calculated on the basis of the definitions below have not been included in the tables on the following pages. Profit and return measurements Gross income Definition: Net sales minus the cost of sales. Purpose: This measure shows the Group’s result before the effects of costs such as selling and administrative expenses. Gross margin, % Definition: Gross income in relation to net sales for the period. Operating income (EBIT) Definition: Net sales minus all costs attributable to operations including depreciation and amortisation of property, plant and equipment and intangible assets but excluding net financial items and tax. Purpose: This is used to measure operational profitability and the Group’s target achievement. Operating margin (EBIT), % Definition: Operating income (EBIT) in relation to net sales for the period. Earnings before amortisation (EBITA) Definition: Operating income before amortisation of intangible assets. Purpose: This is used to measure result from operating activities independent of amortisation. Operating margin before amortisation (EBITA), % Definition: Earnings before amortisation of intangible assets in relation to net sales for the period. Earnings before depreciation and amortisation (EBITDA) Definition: Operating income before depreciation and amortisation of property, plant and equipment and intangible assets. Purpose: This is used to measure result from operating activities independent of depreciation and amortisation. The company aims to achieve growth while maintaining profitability, where profitability is followed up through earnings before depreciation and amortisation (EBITDA). Operating margin before depreciation and amortisation (EBITDA), % Definition: Earnings before depreciation and amortisation of property, plant and equipment and intangible assets in relation to net sales for the period. Capital measures Net debt Definition: Current and non-current interest-bearing liabilities, adjusted for IFRS 16 lease effect, minus interest-bearing receivables minus cash and cash equivalents. Purpose: One of the Vitrolife Group’s financial objectives is to have a strong financial capital base to enable continued high growth, both organic and through acquisitions. The definition of this measure has been reworded to reflect the introduction of IFRS 16 on 1 January 2019, as financial liabilities related to leases are not included in the net debt calculation. Net debt/EBITDA rolling 12 months Definition: Net debt in relation to EBITDA over a rolling-12 months period, excluding IFRS 16 leases. Purpose: One of the Vitrolife Group’s financial objectives is to have a strong financial capital base to enable continued high growth, both organic and through acquisitions. In relation to this, the Group management monitors the ratio of net debt to rolling 12-months earnings before depreciation and amortisation (EBITDA). According to the Vitrolife Group’s financial objectives, this ratio should normally not exceed three times. It is management’s assessment that this ratio gives creditors and investors important information concerning the Group’s approach to debt. Equity/assets ratio, % Definition: Equity and minority interest in relation to total assets. Purpose: The ratio shows the proportion of the Company’s total assets financed by equity. A high equity/assets ratio is a measure of financial strength and is used to measure target achievement. Working capital Definition: Current assets excluding cash and cash equivalents minus current non-interest-bearing liabilities. Purpose: This measure is used to show how much capital is needed to finance current business operations.
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Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 25 Share-related measures Cash flow from operating activities per share Definition: Cash flow for the period from current business operations divided by the average number of shares for the period. Purpose: This measure is used to show the cash flow generated by the company’s current business operations per share. Equity per share Definition: Equity divided by the number of shares outstanding on the closing date. Purpose: This measure shows the company’s net value per share and determines whether a company increases shareholders’ net worth over time. Earnings per share (Defined by IFRS) Definition: Income for the period attributable to the Vitrolife Group’s shareholders divided by the average number of shares outstanding for the period. EBITDA per share Definition: EBITDA divided by the average number of shares outstanding for the period. Purpose: Measures operating earnings per share generated by the business. Return on equity Definition: Net income, rolling 12 months, in relation to average equity. Purpose: It is the Vitrolife Group’s assessment that return on equity is an appropriate measure to illustrate to stakeholders how effectively the Group invests its equity. SEK million 30 Sep 2026 30 Sep 2025 31 Dec 2025 Average equity last four quarters 8,053 13,336 11,900 Net income, rolling 12 months -4,958 440 -5,012 Return on equity, % -61.6 3.3 -42.1 Other measures Rolling 12 months Definition: Key ratios calculated from rolling 12-months values are based on the four most recent interim reports and sets of accounts. Purpose: Rolling 12 months gives a clearer picture of sales or profit- ability and a fairer picture of a key ratio’s development. Organic growth Definition: Organic growth is sales growth from existing business operations adjusted for acquisitions and divestments. An acquisition or a sale is only included in the calculation of organic growth when it is included for an equal number of months in the current period and the corresponding period the previous year. Otherwise it is included in the calculation of acquired growth. Purpose: Organic growth excludes the effects of changes in the Group’s structure, thus enabling a comparison of net sales over time. Net sales growth in local currency Definition: Growth in local currencies is sales growth adjusted for currency effects. This is calculated as sales for the period in local currencies, translated using a predetermined exchange rate, in relation to sales for the corresponding period the previous year in local currencies, translated using the same exchange rate. Purpose: As the Vitrolife Group has a large proportion of sales in currencies other than its reporting currency, SEK, sales are not only impacted by actual growth, but also by currency effects. This measure is used to analyse sales adjusted for currency effects. The percentage effects in the following tables are calculated as each amount in SEK million in relation to net sales in the same period previous year (as shown in Note 4). SEK million 30 Sep 2026 30 Sep 2025 31 Dec 2025 Borrowings, non-current 1,603 1,879 1,490 Lease liabilities, non-current 75 78 72 Lease liabilities, current 47 45 43 Adjustment of lease liabilities -122 -123 -115 Cash and cash equivalents -860 -1,109 -809 Net debt 743 770 680 Operating income, rolling 12 months -4,742 656 -4,835 Impairment charge 5,357 – 5,357 Depreciation and amortisation, rolling 12 months 406 434 427 Depreciation and amortisation IFRS 16, rolling 12 months -53 -54 -53 EBITDA rolling 12 months 968 1,036 896 Net debt/EBITDA rolling 12 months 0.8 0.7 0.8
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Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 26 Adjusted consolidated income statements and key ratios January - December 2025 Consoli dated income statements Impair ment charge Restruct uring costs Adjusted consoli dated income statements SEK million Consolidated income statements Net sales 3,440 – – 3,440 Cost of sales -1,443 – 6 -1,437 Gross income 1,997 – 6 2,003 Selling expenses -806 – 24 -782 Administrative expenses -512 – 8 -504 Research and development costs -118 – 2 -115 Other operating income 13 – – 13 Other operating expenses -5,409 5,357 15 -37 Operating income -4,835 5,357 55 577 Comprising EBITDA 949 – 55 1,004 Impairment charge -5,357 5,357 – – Amortisation and depreciations -427 – – -427 Operating income -4,835 5,357 55 577 Financial income and expenses -51 – – -51 Income after financial items -4,886 5,357 55 526 Income taxes -127 – -9 -136 Net income -5,013 5,357 47 390 Attributable to Parent Company shareholders -5,012 5,357 47 391 Non-controlling interests 0 – 0 0 Key ratios Gross margin, % 58.1 58.2 Earnings before depreciation and amortisation (EBITDA) 949 1,004 Operating margin before depreciation and amortisation (EBITDA), % 2 7.6 29.2 Earnings per share. SEK - 37.0 1 2.89 Tax rate, % 2.6 -25.8
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Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 27 Glossary The following explanations are intended to help the reader to understand certain specific terms and expressions in the Vitrolife Group’s reports: Biological quality tests Using biological systems (living cells, organs or animals) to test how well a product or input material functions in relation to a requirement specification. Biopsy Removal of one or several cells from living tissue for evaluation. Biotechnology Combination of biology and technology, which primarily means using cells or components from cells (such as enzymes or DNA) in technical applications. Clinical study/trial An investigation in healthy or sick people aimed at studying the effect of a pharmaceutical or treatment method. CGT A genetic test to determine whether a couple carry genetic mutations that could be transmitted to their offspring. Embryo A fertilised egg that has become multicellular. EmbryoScope® An innovative incubator that incorporates time-lapse technology. EmbryoScope+ acquires images of all embryos in multiple focal planes while the embryos are safely in an undisturbed stable environment. The image sequence allows for comprehensive embryo evaluation e.g. by AI-based decision support tool, iDAScore. Endometrium Endometrium is the inner lining of the uterus. During the menstrual cycle it changes to provide an environment that may allow implantation and subsequent development of an embryo. ERA Genetic diagnostic test that determines each woman’s unique personalised embryo transfer timing, therefore synchronising the embryo transfer with the individualised window of implantation. eWitness An error prevention system for the IVF treatment. Traceability is made possible by scanning, recording, and validating every action. Genomic kit Kit for labs assessing preimplantation embryo biopsy samples. ICSI Intracytoplasmic sperm injection is the method of injecting a single sperm into a mature oocyte to achieve fertilisation. In vitro (Latin “in glass”) A biological process that is performed outside of a living organism and in an artificial environment, for example, in a test tube. In vivo (Latin “in the living”) Biological processes occurring in cells and tissues within a living organism. Incubator Equipment for culture of embryos in a controlled environment. IVF, In vitro fertilisation The combination of the male and female sex cells and subsequent cultivation of the embryos, outside of the body. Media Liquids used within the IVF laboratory to handle sperm, oocytes and/or grow embryos. Medical devices Comprise devices used to make a diagnosis of a disease, treat a disease and as rehabilitation. Oocyte pick-up/egg collection The procedure to aspirate oocytes from the follicles within the ovary. PGT-A Preimplantation genetic testing for aneuploidy (PGT-A), also called preimplantation genetic screening (PGS), is a test for chromosome copy number that can be used during IVF to help predict the chromosomal status of an embryo from a biopsy of one or more cells. The results of PGT-A aid in selecting embryos more likely to have a normal number of chromosomes (euploid) over those with an abnormal number (aneuploid), which may result in implantation failure or miscarriage. PGT-M Preimplantation genetic testing for monogenic defects (PGT-M), also called preimplantation genetic diagnosis (PGD), is a test to find specific hereditary genetic diseases that are caused by a single defective gene. This test can be used to determine which embryo lacks the genetic disease to ensure that the child will not be impacted. Preclinical study Research conducted before a pharmaceutical or a treatment method is sufficiently documented to be studied in humans, for example, testing of substances on tissue samples and subsequent testing on experimental animals. Time-lapse Technology for embryo monitoring. Images of the developing embryo are taken at frequent time intervals, then played as a film and analysed. Vitrification Process for converting a material to a glass- like solid state, in this case the rapid cooling of eggs and embryos to cryopreserve them for future IVF cycles.
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Interim Report Q3 / 2026 Vitrolife AB (publ), corp. id. no. 556354-3452 28 The Vitrolife Group’s interim reports are published on the company’s website, vitrolifegroup.com, and are sent to shareholders who have registered their interest in receiving this information. 28/01/2027 Fourth quarter and full year report 2026 25/03/2027 Annual and sustainability report 2026 22/04/2027 Interim report Q1, 2027 4/05/2027 Annual General Meeting 2027 16/07/2027 Interim report Q2, 2027 Financial reports This report has been reviewed by the Group´s auditor. This is a translation of the Swedish language original. In the event of any differences between the English and the Swedish version of this publication, the Swedish version shall prevail. The Vitrolife Group refers to Vitrolife AB (publ) and all its subsidiaries. Forward Looking Statements This report may contain forward-looking statements, which reflect the Board of Directors and the management’s current views with respect to the market, certain future events and financial per - formance. Although the statements are based upon estimates, the management believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, and no assurance can be given that the expectations will prove to be correct. Forward-looking state - ments are based on the circumstances at the date of publication and actual outcome could be mate - rially different. Vitrolife Group disclaims any intention or obligation to update these forward-looking statements. The most important strategic and operative risks regarding Vitrolife Group’s business and field are described in the Management report, in the Annual Report. These are primarily consti - tuted by macro-economic risks, operational risks and financial risks. Heavy fluctuations in the exchange rates of important currencies, significant changes in the healthcare sector or major changes in the world economy may impact Vitrolife Groups possibilities of achieving the long-term objectives set as well as for fulfilling expectations and may affect the company’s financial outcomes. Queries should be addressed to Pär Ihrskog, CFO e-mail: investors@vitrolife.com phone: +46 (0) 31 721 80 00 This disclosure contains information that Vitrolife AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 22-10-2026 8.00 CET.
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www.vitrolifegroup.com Vitrolife AB (publ) Box 9080 SE-400 92 Göteborg Sweden Phone +46 31 721 80 00 Fax +46 31 721 80 99 investors@vitrolife.com