Slide 1: Vitrolife Group: Excellence in Reproductive Health
Slide 2: Conference Call Presentation: Second quarter 2026
CONFERENCE CALL PRESENTATION: Second quarter 2026 Bronwyn Brophy O’Connor, CEO Pär Ihrskog, CFO Vitrolife AB (publ) 2026-07-16
Slide 3: Q2/2026 Highlights
Q2 /2026 Highlights Record revenue in Net income Launched Consumables SEK 129 million, EmbryoCath & with 15% organic and EPS of EmbryoViewer Pro growth in Americas SEK 0.95 3
Slide 4: Key Factors – Market update
Key Factors – Market update EM EA APAC AMERICAS • European IVF cycle activity at • China: IVF cycles are declining year • US: Cycle activity was very slow at normal levels. over year; this trend is expected to the start of Q2 but started to pick continue based on demographics. up in June. • Middle E
Slide 5: Market region EMEA
Market region EMEA 29% EMEA 37% Share of revenue 34% Net sales, MSEK -2% in SEK +1% organic growth* Organic growth*+1% 350 326 333 • Western Europe remained strong however IVF cycles are 312 319 309 significantly down in the M.E., this weighed on the 300 regional performance. 62,0% 61,7% 61,9% • Cons
Slide 6: Market region Americas
Market region Americas 29% 37% 34% Americas Net sales, MSEK Share of revenue -1,0% in SEK +1% organic growth* Organic growth*+1% 295 299 292 300 • North America performed well across the portfolio, South 276 America’s exit from low-profit Genetics accounts reduced 264 topline growth but improved regi
Slide 7: Market region APAC
APAC Market region APAC 29% Share of revenue 37% 34% Net sales, MSEK -2,0% in SEK -1% organic growth Organic growth*-1% 259 • Japan delivered strong growth, our best in several 260 250 250 245 1 700 years. We continue to expand our share across the 240 232 portfolio in Southeast Asia. Demand in Chin
Slide 8: Mission: Be the leading global partner in reproductive health
Mission: Be the leading global partner in reproductive health striving for better outcomes for patients Driving profitable growth through improved market and customer segmentation. Growth Gaining share in Consumables and increasing the penetration and utilisation of EmbryoScope. Building out ou
Slide 9: Financial Highlights
Financial Highlights Pär Ihrskog Group CFO
Slide 10: Geographical segments
Geographical segments Americas EMEA APAC Total Sales (MSEK) 292 319 245 857 Gross income (M SEK) 169 198 150 517 Gross margin % 57.8% (54.2) 61.9% (59.9) 61.2% (59.8) 60.3% (58.0) M arket contribution (M SEK) 99 126 108 333 Contribution margin % 33.8% (29.0) 39.4% (35.0) 44.0% (41.0) 38.8% (34.7) 10
Slide 11: Q2 financial highlights
Q2 financial highlights MSEK 857 871 Net sales of 857 MSEK • -2% growth in SEK Gross income of 517 MSEK • Margin of 60.3% (58.0%) 517 505 EBITDA of 295 MSEK • EBITDA Margin of 34.4% (27.8%) 295 • The increase in margin was driven by strong 243 Gross Margin and cost reductions in OpEx. • Positive one
Slide 12: Net Sales Q2 2025 vs Q2 2026
Net Sales Q2 2025 vs Q2 2026 900 -2% 871 +1% -2% -1% 857 Net sales of 857 MSEK 850 • -2% growth in SEK • Organic growth in local currencies 800 excluding exited business was +1% • Currency effect -1% 50 • NACE & GDPX effect -2% 0 Net Sales Organic NACE/GDPX Currency Net Sales Q2 25 Growth effect Q2
Slide 13: Gross Margin Development last 5 quarters
Gross Margin Development last 5 quarters 60,3% 59,9% 58,9% 58,6%* • Gross margin remained strong at 60.3% 58,0% (58.0%), • Strategic decision to focus on higher margin products and markets. • Improved Gross Margin in all regions and Product Groups • Positive mix effects Q2 -25 Q3 -25 Q4 -25 Q1 -26 Q
Slide 14: Operational Expenses Development last 5 quarters
Operational Expenses Development last 5 quarters -48 MSEK 368 377* 348 • Continued reduction in Operation 334 expense. 320 • A decrease by SEK 48 million, reflecting the positive impact of the ongoing restructuring programme and continued cost discipline. • Positive one-time effects amounting to 13 M
Slide 15: Cash flow from operating activities by quarter
Cash flow from operating activities by quarter 255 • Operating cash flow for the quarter amounted to SEK 140 (151) million. 172 160 151 • Working capital changes were SEK -95 140 MSEK, mainly driven by: • an increase in operating receivables in the quarter. • Inventory build up ahead of vacation perio
Slide 16: Key Financials
Key Financials MSEK* 2026 Q2 2025 Q2 Sales 857 871 Gross margin, % 60.3 58.0 EBITDA 295 243 EBITDA margin, % 34.4 27.8 Net income 129 100 EPS, SEK 0.95 0.74 Operating cash flow 140 151 Net Debt / EBITDA rolling 12m 0.7 0.9
Slide 17: Vitrolife Group launches SEK 500 million share repurchase programme
Vitrolife Group launches SEK 500 million share repurchase programme • Vitrolife Group’s Board has approved a share repurchase programme of up to SEK 500 million, running from 17 July 2026 until the 2027 AGM. • The programme aims to optimize the capital structure and enhance shareholder value • Repur
Slide 18: Q&A
Q&A Contact: investors@vitrolife.com 18
Slide 19: Disclaimer
Disclaimer This presentation may contain estimates and forward-looking statements, which reflect the Management’s current views with respect to the market, certain future events and financial performance. Although the statements are based upon estimates the Management believes to be reasonable, there