Slide 1: Strongest first quarter so far
Q1 2026 Strongest first quarter so far Investor Conference Call May 6, 2026 CEO Lars Højgård Hansen PowerPoint template - January 2026 1 Presentation name / COMPANY CONFIDENTIAL
Slide 2: Financial highlights
Q1 2026 Financial highlights Order intake Order book 335 SEK m 751 SEK m • INVISIO's strongest first quarter ever, despite prolonged US government shutdown • Strong order intake across key markets +27% YoY +1% YoY • Gross margin impacted by donation-tied sale transacted at lower margin Revenue Reven
Slide 3: Our strongest first quarter ever
Q1 2026 Our strongest first quarter ever • Strongest Q1 ever, achieved despite prolonged SEK million partial US government shutdown 800 +28.6% 2,000 1,800 • Revenue totaled SEK 430.5m (334.8), and SEK 700 449m in comparable currencies 1,600 600 1,400 • Revenue 29 percent higher than same quarter 500
Slide 4: Solid order intake
Q1 2026 Solid order intake • Strong Q1 order intake of SEK 335.0m (264.1), an SEK million increase of 27 percent 800 2,500 +27.0% • Trend towards higher number of items per order as we continue to evolve into a system supplier 2,000 600 • Continued solid inflow of small and medium- sized orders 1,50
Slide 5: Robust order book
Q1 2026 Robust order book • Order book of SEK 750.5m (742.7) at end of SEK million quarter 1,200 1,000 +1.1% • Strong foundation from order book, with 900 1,000 majority of orders expected to be delivered 800 in Q2 and Q3 2026 700 800 600 600 500 400 400 300 200 200 100 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
Slide 6: Gross margin
Q1 2026 Gross margin • Gross margin of 54.3 percent (58.7) in Q1 % • Lower level primarily attributable to sales to a 64 customer for onward donation to a third party and transacted at reduced price 62 -4.4 pp • Growing share of new products in broader 60 portfolio will contribute positively to main
Slide 7: Steady OPEX development
Q1 2026 Steady OPEX development • Forward-looking investments in operating SEK million +15.2% expenses (OPEX) are tracking the investment 200 800 plan and long-term trend 180 700 • OPEX increased 15.2 percent in Q1 vs same 160 600 period last year 140 • Net increase of 32 employees in Q1 2026 vs 120
Slide 8: Margins in Q1
Q1 2026 Margins in Q1 • Operating margin of 9.2 percent (8.2) in Q1 % 35 • Lower EBIT margin mainly explained by slightly +1.0 p.p. lower gross margin 30 • Operating margin over time should exceed our 25 financial target of 20 percent 20 • Average operating margin for the last four quarters of 17.5
Slide 9: Inventory – a competitive advantage
Q1 2026 Inventory – a competitive advantage • Inventory value of SEK 312.7m (289.0) at end of SEK million Q1 400 • Maintaining significant inventory enables prompt 350 8.2% delivery of large volumes, provided product configurations match customer's order 300 • Fast deliveries a significant competiti
Slide 10: Cash flow
Q1 2026 Cash flow • Cash flow from operating activities of SEK SEK million 47.9m (178.1) in Q1 200 450 • R12 cash flow from operating activities of SEK 207.0m (318.3) 350 150 • Cash and cash equivalents at close of 250 period of SEK 431.4m (350.7) 100 150 50 50 -50 0 -150 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
Slide 11: Proposed dividend of SEK 3.00
Q1 2026 Proposed dividend of SEK 3.00 • Board of directors proposes a dividend of SEK 3.00 per share (2.30) for 2025 • Objective is to pay out 25-50 percent of post-tax profit in dividends over time • Proposed dividend raises dividend payout ratio to 48 percent for last five-year period
Slide 12: Operations
Know What's Next | INVISIO°
Slide 13: Strong interest in new products and solutions
Q1 2026 Strong interest in new products and solutions • First deliveries during Q1 2026: • INVISIO T30 headset – addresses large user groups • INVISIO LinkTM – strengthens product offering around Intercom system • INVISIO H-series – enables efficient integration of multiple products and functions in
Slide 14: Prolonged US government shutdown
Q1 2026 Prolonged US government shutdown • Adversely impacted order intake and sales to US customers (including US Coast Guard) • INVISIO expects delayed sales to be recouped during the year Q4 2025
Slide 15: Positive ripple effects from USCG agreement
Q1 2026 Positive ripple effects from USCG agreement • Strategically ijprtant agreement – INVISIO's first major contract in maritime segment • Opens door to further sales, both to other US Coast Guard units and other maritime organizations globally • Has triggered interest from coast guard organizati
Slide 16: Market outlook
Market outlook • Highly uncertain geopolitical landscape continues to keep defense and security issues high on the agenda … • … adding to fundamental need for modern communications equipment in many countries. • These factors lead us to expect continued high demand in 2026 and for several years to c
Slide 17: Appendix
Appendix
Slide 18: Condensed consolidated income statement and statement of comprehensive income
Condensed consolidated income statement and consolidated statement of comprehensive income Data per share Jan-Mar Full year Jan-Mar Fullyear SEK million Note 2026 2025 2025 Note 2026 2025 2025 Revenue 2 430.5 3348 1,737.1 Eamings per share for the period, SEK 0.83 0.54 A72 Cost of goods sold “196.5
Slide 19: Condensed consolidated statement of financial position
Condensed consolidated statement of financial position SEK million Note Mar 31, 2026 Mar 31,2025 Dee 31, 2025 ‘SEK million Note Mar 31, 2026 Mar 31,2025 Dee 31, 2025 ASSETS SHAREHOLDERS’ EQUITY AND LIABILITIES Non-current assets Shareholders’ equity 1,224.4 997.7 1,173.7 Goodwill 57.2 59.0 56.3 ' Ca
Slide 20: Condensed consolidated statement of cash flows
Condensed consolidated statement of cash flows Jan-Mar Fullyear Jan-Mar Full year ‘SEK million Note 2026 2025 2025 ‘SEK million Note 2026 2025 2025 Operating activities Financing activities Profit before tax 397 302 290.9 Newissue through exercising employee stock Adjustments for non-cash items 19.5