Gapwaves Ab Class B · OMXSTO:GAPW_B

Gapwaves Ab Class B — Q2 2026 Earnings Presentation

17 slides from Gapwaves Ab Class B's earnings presentation, Jul 17, 2026

1. Slide 1: Webcast Q2 2026

   Webcast Q2 2026

2. Slide 2: Gapwaves in brief

   GAPWAVES IN BRIEF Swedish tech company with patented waveguide technology What we do Applications Value chain position High-performance antenna solutions TIER 2 Automotive SUPPLIERS Mobility Example companies Smart City TIER 1 Defense SUPPLIERS Wireless Example companies CAR MANUFACTURERS (OEM) Exam

3. Slide 3: Well-positioned for profitable growth

   INVESTMENT CASE Well-positioned for profitable growth  Strong market potential and growing TAM Driven by regulation and customer needs  World-leading technology With extensive patent portfolio  Volume production has started >2 000 000 antennas produced with Gapwaves technology. Majority relates t

4. Slide 4: Q2 Highlights

   “APWAVES 2026 Q2 Highlights |

5. Slide 5: Operational highlights

   Q2 2026 Operational highlights  Valeo high volume SOP completed as planned  More than 2 million antennas produced with Gapwaves technology to date  Supplier base strengthened through AT&S agreement  New applications progressing beyond core automotive radar

6. Slide 6: Valeo – SOP: volume production start

   INDUSTRIALIZATION CONTINUES Valeo – SOP: volume production start FROM CONCEPT TO PRODUCTION  Production transitioned as planned from small-scale series production in Gothenburg to high-volume contract manufacturing at Frencken (Chuzhou, China)  Volume ramp-up expected to occur gradually over appro

7. Slide 7: Q2: Progress in a continued transition

   HIGHLIGHTS Q2 Q2: Progress in a continued transition Net sales (MSEK) Q2 Net Sales MSEK 13,1 20 (MSEK 24,1) 10 0 Q2 Adj. EBITDA Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 -13,3 2023 2024 2025 2026 MSEK (MSEK -3,8)  In a transition period, shifting from project revenues to product sales  Net sales 1

8. Slide 8: Revenue mix behind the year-on-year decline

   HIGHLIGHTS Q2 Revenue mix behind the year-on-year decline  Revenue development - Q2 2025 included:  production equipment sales of MSEK 7,7  Revenue Mix – from project revenue to product revenue  Product sales will now increase and dominate over time Q2 2025 Q2 2026 Production equipment Other (in

9. Slide 9: Gapwaves in Geely cars

   Gapwaves in Geely cars  Valeo supplying its radar sensor to Geely with Gapwaves antenna since 2025  Geely is China’s 2nd largest automotive groups and a rapidly growing global manufacturer  Displays Gapwaves value and competitively strong solution to its customers, also in volume car segment

10. Slide 10: Expanding beyond Automotive

    BROADER COMMERCIAL PLATFORM Expanding beyond Automotive Gotmic development order  First end customer being an American defense group  Waveguide packaging for high-power amplifier modules: new application for Gapwaves patented technology  Potential in telecom and satellite communications

11. Slide 11: New growth segment: in-cabin radar

    BROADER COMMERCIAL PLATFORM New growth segment: in-cabin radar  Vinnova-funded research project together with Acconeer  Emerging in-cabin radar applications, expanding the platform beyond traditional exterior automotive radar.  Growing segment within Automotive, driven by regulation and customer

12. Slide 12: Sensrad: headwinds

    Sensrad Sensrad: headwinds  Weak development during the quarter  Sales weaker than expected due to delayed orders  Deteriorated market conditions  Measures being taken to adapt the business  Assessment resulting in impairment

13. Slide 13: Outlook

    Outlook  Long term market outlook unchanged  Revenue transition  From research-focus, short-term project revenues to product sales  Production ramp-up  Continued volume growth with Valeo and Hella production  Continued supply chain development  Additional growth drivers  Autonomous vehicles

14. Slide 14: Near-term

    Near-term  Continue Valeo ramp-up and significant volume Antennas produced with expansion Gapwaves technology (own production and licensed production)  Focus on business development in new segments 2025 >840 000 2026 (forecast) >4 500 000  Adding new automotive Tier 1 customers and SOP, 2027 (est

15. Slide 15: Gapwaves

    “aAPWAVES

16. Slide 16: For more information

    For more information CONTACT Jonas Ehinger CEO jonas.ehinger@gapwaves.com

17. Slide 17: Thank you!

    Thank you! Follow us Gapwaves AB (publ) Corp. Reg. No. 556840-2829 Headquarters: Nellickevägen 22 SE-412 63 Gothenburg, Sweden Tel: +46 31 762 60 40 E-mail: info@gapwaves.com www.gapwaves.com

Gapwaves — Q2 2026 Earnings Presentation on 6ix