Bittium Oyj : Annual Report 2025 » ( Corporation Annual Report 2025 web)

About this update from Bittium Corporation

Annual Report 2025 The year 2025 was a year of international growth for Bittium. Contents Bittium in 2025 3 Group Key Figures 4 CEO's Review 5 Business and Operating Model 7 Strategy 9 Shares and Shareholders 19 Business Segments 10 Report by the Board of Directors 2025 26 Sustainability Statement 2025 49 Financial Statements 2025 121 Corporate Governance Statement 2025 179 Remuneration Report 2025 196 Directors Bittium in 2025 Report by the Board of Sustainability Statement Financial Statements Corporate Governance Remuneration Report Statement ‌Bittium in 2025‌ Bittium offers high-tech products and services globally. We operate in growing markets where advanced technology provides a competitive advantage. With 40 years of experience, we create added value for our customers in complex and continuously evolving digital environments. Together with our customers, we are committed to building a safer, more sustainable, and healthier future that benefits both people and societies. Defense & Security As a trusted supplier, we offer next-generation mobile tactical communications systems for defense forces and secure communications solutions for government and public authorities. Tactical solutions enable broadband data and voice seamlessly to all troops in the battlefield. Our secure mobile devices and cybersecurity solutions protect communications up to CONFIDENTIAL and NATO Restricted levels. Medical With a long experience in biosignal processing, we offer innovative, high-quality solutions for heart and brain monitoring, home sleep apnea testing and muscle activation measurements to healthcare professionals and service providers. Our customizable offering consists of devices, accessories, analysis software and a service platform tailored to customer needs. Engineering Services We offer R&D services for secure wireless devices. Our expertise covers all areas of hardware and software development. Our testing services and laboratories support development work and enable the delivery of turnkey projects covering the entire product lifecycle. Directors Statement Bittium in 2025 Report by the Board of ‌Group Key Figures Net Sales 119.3 MEUR EBITDA 32.4 MEUR Product-based Net Sales 87.4 MEUR Services-based Net Sales 31.9 MEUR Operating Result 19.4 MEUR Earnings / Share 0.601 EUR Bittium's net sales in January-December 2025 grew by 40.1 percent (13.2 percent) from the previous year and were EUR 119.3 million (EUR 85.2 million). Product-based net sales were EUR 87.4 million (EUR 52.0 million), representing 73.2 percent (61.0 percent) of the total net sales. Services-based net sales were EUR 31.9 million (EUR 33.2 million), representing 26.8 percent (39.0 percent) of the total net sales. EBITDA was EUR 32.4 million (EUR 17.3 million). R&D investments were EUR 15.3 million (EUR 13.5 million), representing 12.9 percent of net sales (15.9 percent). The operating result was EUR 19.4 million (EUR 8.6 million), representing 16.3 percent of net sales (10.1 percent). Earnings per share were EUR 0.601 (EUR 0.205). Order backlog at the end of December was EUR 77.9 million (EUR 45.1 million). Sustainability Statement Financial Statements Corporate Governance Remuneration Report Net Sales EBITDA Operating Result R&D Investments Order Backlog 150.0 100.0 50.0 0.0 119.3 75.2 85.2 2023 2024 2025 40.0 20.0 0.0 32.4 17.3 5.2 2023 2024 2025 30.0 20.0 10.0 0.0 -10.0 19.4 8.6 -4.3 2023 2024 2025 30.0 20.0 10.0 0.0 20.2 13.5 15.3 2023 2024 2025 100.0 75.0 50.0 25.0 0.0 77.9 45.1 27.6 2023 2024 2025 Net Sales (MEUR) EBITDA (MEUR) Operating Result (ME... R&D Investments (M... Order Backlog (MEUR) Directors Bittium in 2025 Report by the Board of Sustainability Statement Financial Statements Corporate Governance Remuneration Report Statement ‌CEO's Review The year 2025 was a year of international growth for Bittium. The product development investments of the past years and the efforts to accelerate internationalization and commercialization under the new strategy began to materialize in the results. We were able to utilize the opportunities brought by Finnish cutting-edge technology in a way that strengthens our position in domestic and international markets. The deterioration of the global security situation and the increase in tensions between the major global powers have accelerated the European effort to reduce dependence on actors outside Europe. The strategic importance of European technology is also emphasized in the modernization of defense command and control systems, where Bittium has strong expertise and a clear technical competitive advantage. The demand for tactical networks and radios has grown significantly, and with the purchase orders received during the second part of the year, we increased our financial outlook for 2025. The last quarter of 2025 was exceptionally strong for Bittium. Net sales grew by a record 62.5 percent compared to the previous year, which presented also a very strong growth, and amounted to EUR 53.9 million. The growth resulted particularly from the strong sales growth in the Defense & Security Business Segment. Operating profit for the last quarter grew to EUR 15.4 million, which corresponds to 28.5 percent of net sales. The net sales of the full-year 2025 increased by 40.1 percent from the previous year and amounted to EUR 119.3 million. The strong growth was driven by the increasing demand in the defense market. Net sales in the Medical and Engineering Services Business Segments remained at the same level as in previous year. Full-year operating profit was EUR 19.4 million, corresponding to 16.3 percent of net sales. The significant growth in operating profit was driven by the growth in international product sales in the Defense & Security business. In September, we updated our long-term financial growth expectations and specified our strategy to accelerate international growth. The work has started well and with the growth in our international product sales the order book has grown significantly. In line with the strategy, we have strengthened our delivery capacity by expanding our partner network. This maintains the flexibility and speed of our product deliveries, which is clearly one of our competitive advantages. Our delivery capacity still relies heavily on Finnish manufacturing partners, but we keep the possibility of expanding the network to other European countries as well. Scaling production with the help of a reliable partner network keeps the needs of growing our own production capacity moderate. Cash flow in 2025 weakened clearly, mainly due to the seasonal nature of the business and the timing of deliveries. Directors Bittium in 2025 Report by the Board of Sustainability Statement Financial Statements Corporate Governance Remuneration Report Statement We strengthened our partnership network. We acquired a 24.9 percent stake in MarshallAI (Kradient Intelligence Oy), an artificial intelligence solutions provider. We have continued to explore inorganic growth opportunities with the aim of strengthening the tactical communications product portfolio with products that expand the use of the tactical network as part of the hybrid network sharing or alternatively open up access to a specific country market. In the Defense & Security Business Segment, demand for tactical communications products and services has been high this year. The defense forces of several countries are transitioning from purchasing personnel carriers, weapons and ammunition to renewing their command and control systems with modern tactical communications systems. December's order intake broke records as we received two significant orders for tactical backbone and SDR radios for our customers in Finland and Austria. In addition, we signed an agreement to license Tough SDR technology to our Spanish customer and received the first order related to the agreement. Last year was a strategically significant year for the Medical Business Segment. We decided to focus on the Cardiac and Sleep product families to enable more efficient allocation of resources to support profitable growth. The organizational renewal in the summer strengthened the segment's structure and clarified roles and responsibilities. Strengthening the collaboration with our key customer Boston Scientific through a new agreement was an important demonstration of our technological expertise. The collaboration has provided us with significant support for the development of a new product generation, strengthening the segment's long-term growth potential. In the Engineering Services Business Segment, we focused on renewing our offering and shifted our sales focus to the high-potential defense market. We started a collaboration with Edge Impulse, part of Qualcomm, and launched a new embedded AI offering. This ensures that our product development service offers our customers smarter, faster and continuously evolving technology utilizing AI. Last year, we celebrated the company's 40th anniversary together with customers, partners, personnel and owners. The year 2025 was a year of international growth for Bittium, and the company is in an excellent position to continue its strategic growth well into the future. Once again, I would like to express my warm thanks to all our stakeholders for their long-term cooperation in achieving common goals, perseverance and strong trust. These have enabled us to develop and grow. I would also like to express my thanks and appreciation to our personnel, who have enabled modern technological innovations driving the international growth. You have done a great job and Bittium is now in an excellent position to continue its growth in line with our strategy well into the future. Petri Toljamo CEO Bittium Tough SDR Handheld™ Directors Bittium in 2025 Report by the Board of Sustainability Statement Financial Statements Corporate Governance Remuneration Report Statement ‌Business and Operating Model Bittium Mission We enable customer success in the most critical environments through uncompromising technology that powers next-generation capabilities and innovation. Bittium Vision Grounded in trust and purpose, we envision a future where bold innovations open new frontiers. Bittium is a Finnish technology company specializing in the development of reliable and secure communication and connectivity solutions, as well as products and services for out-of-hospital biosignal measurement and monitoring. Bittium was founded in 1985 under the name Elektrobit. The name changed to Bittium after the company sold its Automotive business and the rights to the Elektrobit name on July 1, 2015. Bittium Corporation is a listed company on the main list of the Helsinki Stock Exchange (Nasdaq Helsinki Ltd) mas BITTI. Bittium operates in Finland, Germany, UK and the United States. The company's headquarters are located in Oulu. In Finland, the company also has offices in Espoo, Kajaani, Kuopio and Tampere. At the end of 2025 Bittium employed 528 people, most of whom are R&D engineers. during 2025 there were no significant changes to the company's size, areas of operation, ownership, share distribution, revenue generation or maintenance of operations. Bittium's business is global. Bittium takes into account statutory requirements, directives, so-called general standards and frameworks from a sustainability perspective in its businesses, products and services. These are for example SA 8000 (social responsibility), ISO 14001 (environmental systems), RoHS I, II, III (hazardous substances), REACH (chemicals regulation), WEEE (recyclability), ETJ+/ ISO 50001 (energy efficiency), and the requirements of the Corporate Sustainability Reporting Directive CSRD. As a global operator, Bittium also takes into account the special requirements of international customers. Directors Bittium in 2025 Report by the Board of Sustainability Statement Financial Statements Corporate Governance Remuneration Report Business Model and Value Creation Model Resources People and Management Over 500 employees, in 3 countries. Investments in personnel well-being and development. Quality and management systems Customer Relations Private and public sector Stakeholders Research and development cooperation. Public relations. Ecosystems and partnerships. Financial Capital Strong balance sheet. Investments. Innovations and Processes Reliable and innovative products and solutions. Agile operational processes. R&D investments 15.3 M€. Energy Statement Purchased energy 1,662 MWh. Components in Products Raw materials. Bittium We enable customer success in the most critical environments through uncompromising technology that powers next-generation capabilities and innovation. Values: Trust, Courage, Innovation. Bittium Group has 3 Business Segments: Defense & Security, Medical and Engineering Services. Through our business segments, we offer our customers sustainable solutions that help them respond to the changes and opportunities in the operating environment brought about by technologies. Outputs Monetary Value Net sales 119.3 M€ and operating profit 19.4 M€. Environment - Emissions Scope 1 and 2: 147 tCO2-ekv and Scope 3: 6767 tCO2-ekv. Supplier Audits 10 audits and 7 self assesment. Products and Services Long-lasting and secure communication and data transfer solutions. Advanced remote healthcare diagnostics solutions. Product development services. Waste Total waste amount 37.60 tons. Value Creation Shareholders EBITDA 32.4 M€. Dividend proposal of EUR 0.15 /share and additional EUR 0.15 / share. Profitable and sound investment. Employees Salaries and benefits: 41.7 M€. Healthy and innovative employees. Meaningful work and stimulating work environment. Customers Reliable and secure solutions Society Income taxes 2.35 M€. Cost-effective solutions that promote health. Solutions that promote safety. Environment-Carbon Neutrality Target net zero emissions by 2050. Target 44% reduction in emissions by 2030 (compared to the base year 2023) Directors Bittium in 2025 Report by the Board of Sustainability Statement Financial Statements Corporate Governance Remuneration Report Statement ‌Strategy Growth Strategy for 2026-2028 In the autumn of 2025, Bittium Corporation's Board of Directors approved updated long-term financial targets for the company. The update was driven by the strong growth in the defense market during recent years, which has accelerated the development of Bittium's Defense & Security business. According to the updated long-term financial targets, Bittium aims for an average annual net sales growth of 20-30 percent and an operating profit level of 10-20 percent in the long term. In 2025-2026, the operating profit level will be affected by the company's measures to accelerate international growth, such as investing in increasing international sales, strengthening technology expertise and scaling production. The company is also exploring inorganic growth opportunities in all its Business Segments, in particular to expand the tactical communications product portfolio in the Defense & Security. Bittium seeks profitable growth in all three of its Business Segments, which are Defense & Security, which offers products and services to the defense and government markets; Medical, which offers solutions for measuring biosignals, and Engineering Services, which offers product development services for various demanding industrial sectors. To meet its long-term growth targets, the company specified its strategic focus areas. For more information on business segment strategies, see the section "Business segments". The fundamental pillars of the strategy period 2026-2028 Accelerating international sales and developing strategic partnerships to support growth 1 Ensuring technological leadership by strengthening software and AI capabilities 2 Expanding the business into new markets and verticals in the Defense and Security sector and identifying inorganic growth opportunities 3 Transforming the operating model to be data-driven and scalable 4 ‌Business Segments Bittium Tough SDR TM Directors Bittium in 2025 Report by the Board of Sustainability Statement Financial Statements Corporate Governance Remuneration Report Statement Defense & Security Business Segment Tactical and Secure Data Transfer and Communication systems Defense & Security business segment, Bittium offers globally leading products, services, and systems for its customers in the defense, security, and authority markets. Bittium's competitiveness in these markets is based on trust and reliability, high-quality and performance of its products, and services, as well as on advanced technology and security know-how developed within the company for over 40 years. Bittium Tough Mobile™ 2 product family's smartphones information security core lies in their multilayered security structure, which is based on a hardened Android™ operating system, unique device-based solutions, the information security features, and software integrated into the source code. The phones are fully designed and manufactured in Finland and Bittium ensures supervised and secure manufacturing and supply of the smartphones to customers. Bittium Tough Mobile 2 smartphones together with Bittium Secure Suite device management and encryption software product can be certified for secure use by different national government authorities. Bittium Tough Mobile 2 C smartphone together with Bittium Secure Suite software form a smartphone-based communication solution that has been approved for CONFIDENTIAL security level (NCSA-FI) use and and the Bittium Tough Mobile 2 C smartphone, Bittium Secure Suite software and Bittium Secure Call communication application are approved for NATO RESTRICTED level use. As the smartphones have been designed for use by authorities and government agencies, they have a significantly longer availability and lifespan and better availability of security updates compared to conventional smartphones. Bittium Tough Mobile™ 2 Tactical is a complete solution that enables soldier mobile communications. The solution is based on the secure and rugged Bittium Tough Mobile 2 smartphone that is connected with either Bittium Tough SDR Handheld radio or third-party tactical radios. The solution is compatible with different battle management systems, which enables real-time and efficient sharing of situational awareness in tactical networks. Bittium Tough Mobile™ 3 smartphone continues the Tough Mobile series of smartphones designed for extreme security needs. The Tough Mobile 3 enables absolute security, especially for governments, defense forces and government organizations, against the ever-increasing security threats. Based on the Android™ operating system, the Tough Mobile 3 is a 5G smartphone that combines government-grade security with military-grade durability. Bittium Secure Suite™ is a device management and encryption software product that complements the Bittium Tough Mobile 2 smartphone with a scalable set of new software services for remote management, remote attestation, and securing the network connections of the device. Bittium Tough Mobile 2 smartphone and Bittium Secure Suite form a unique, complete, reliable system for processing and transferring sensitive and classified material and securing critical communication. Bittium Secure Call™ is a communication application for public authorities and businesses with quantum security for end-to-end encrypted voice and video calls, group calls, messages with attachments, group messaging, push-to-talk voice messages, and a message that is destroyed after a predetermined time. Authority-level security is achieved when Bittium Secure Call is used in conjunction with Bittium Tough Mobile 2 smartphones and the Bittium Secure Suite software. Bittium SafeMove® Mobile VPN software enables the utilization of all IP-based applications and networks by securing the connections between the workstation or mobile device and corporate services immediately from the startup of the phone. With quantum safe Bittium SafeMove, for instance, home care workers are allowed to have full access to the same systems and applications they would have on a hospital desktop, enabling always-on, secure and seamless connectivity to your organization's information systems regardless of time and place. The Windows version of the SafeMove Mobile VPN product is approved for national security class TL IV data encryption. Bittium SafeMove® Analytics is an advanced monitoring and reporting module that helps organizations to monitor network connectivity and performance to improve productivity and user experience. The analytics tool continuously gathers connectivity data such as connectivity status, speed, throughput and bytes transferred, network type, and Wi-Fi network information. It is also easy to enhance the tool with positioning information if GPS data is available. In addition, the security features enable immediate report of possible security deviations in the mobile phones used by the employees. This enables reacting to the cyber threats without any delay, for example, by disconnecting a device that reported the deviation from the company network for the time of clearance of the situation. 11 Bittium Annual Report 2025 Directors Bittium in 2025 Report by the Board of Sustainability Statement Financial Statements Corporate Governance Remuneration Report Statement Bittium Tactical Wireless IP Network™ (TAC WIN) is a Software-Defined Radio based wireless broadband network system intended for military and public safety use. With the system MANET (mobile ad hoc network), link and connection networks can be formed into one logical IP network quickly, no matter what the location is. Bittium TAC WIN is an excellent data transfer solution for different defense branches as well as weapon systems and unmanned vehicle platforms due to its mobility, low latency, and high data transfer capacity features. Bittium Tough SDR™ product family consists of Bittium Tough SDR Handheld, tactical radio for dismounted soldiers, and Bittium Tough SDR Vehicular, two-channel tactical radio for vehicle installations. The uniquely wide range of frequency bands of the radios improves combat survivability, and using several waveforms, even simultaneously, improves compatibility and enables operations on different levels and missions. Bittium Tough VoIP™ product family's products enable tactical IP calls and broadband data transfer even in demanding conditions. The product family consists of a range of tactical IP-based communication products, including Bittium Tough Comnode device and Bittium Tough VoIP Field Phone 2 as well as Bittium Tough VoIP Service and Bittium Tough VoIP Softphone software products. Bittium Tough Comnode™ is a versatile device, which fulfills the data transfer needs of mobile troops by functioning, for example, as a VoIP phone, an IP router, and an SHDSL repeater. Additionally, the Comnode device also enables the use of legacy Combat Net Radios (CNR) as part of the IP-based tactical communications system (Radio over IP, RoIP). Bittium Tough VoIP Field Phone™ 2 is a next-generation VoIP phone, which, thanks to its features, accessories, and powering options, is the optimal solution for battlefields, vehicles, and command posts. Together with the distributed and survivable Bittium Tough VoIP Service™, calls between the Field Phone 2 users are enabled regardless of where and how the users have been connected to the network. 12 Bittium Annual Report 2025 Bittium Tough VoIP Service™ is a software product, which can be used to connect both fixed data network users and wireless tactical data network users to the same voice service network. It is a flexible and decentralized solution which can be installed on routing elements of the network, such as the Bittium TAC WIN Tactical Router, the Bittium Tough Comnode device, or the Bittium Tough SDR radios. Bittium Tough VoIP Softphone™ is a VoIP application designed especially for computer users. It can be used for VoIP calls, instant messaging, and conference calls in the Bittium Tough VoIP Service network. Bittium Tactical Power Pack™ is specifically designed for tactical data transfer as an accessory to the Bittium Tough SDR Handheld radio and the Bittium Tough Comnode device, for example, but can also be easily used with standard tablets and smartphones via USB. The Tactical Power Pack enables uninterrupted field operation for the devices. Bittium Tactical Device Management™ s an advanced system that enables secure deployment and operative use for tactical communication devices. With the system, different defense forces can maintain sovereign, centralized, and efficient control over Bittium's tactical devices. The system enables the preparation of the devices for operative use and management of the devices during operative use, including commissioning, software updates, and key management. Bittium Tactical Network Management™ is an easy-to-use and visual system for managing Bittium's tactical communication networks and network nodes, including Bittium Tactical Wireless IP Network, Bittium Tough SDR, and Bittium Tough Comnode products. Different defense forces can use the system's tools for planning the locations of the networks and their nodes so that optimal network performance can be achieved. When the networks are in operative use, the system provides a real-time and reliable status view of network operation and node configurations. The data collected from the networks and nodes during operative use is recorded and can be easily analyzed. This enables optimizing the network performance for upcoming operations. Life Cycle Services is a comprehensive range of lifecycle services to maximize the operational uptime and performance of tactical communications solutions. The services also enable customers to have local maintenance and repair capabilities. Services are provided at all stages of the product and system lifecycle to support their deployment, operation and eventual transition to next-generation solutions. 12 Bittium Annual Report 2025 Directors Bittium in 2025 Report by the Board of Sustainability Statement Financial Statements Corporate Governance Remuneration Report Statement Defense & Security Business Segment Strategy for 2026-2028 Global geopolitical instability and resulting changes have increased defense funds and the need to modernize tactical communication systems. Finland's accession to the defense alliance NATO has increased the visibility of Bittium's products in international defense and security markets, and the partnership agreement with the Finnish Defence Forces creates a significant reference for the company's internationalization through both system solutions and the operating environment. Bittium's tactical communication system and radios are phones. The increasing number of cyberattacks and the high computing power enabled by quantum computers have increased the need to develop even stronger, quantum-safe mobile security. The recently launched next-generation ultra-secure Bittium Tough Mobile 3 addresses the growing security and performance needs of mobile communications. Bittium focuses particularly on its strong expertise in security technologies and software and creates partnerships with leading players in the field, for example, in the product manufacturing such as Tough Mobile 3 secure phones. As part of its updated software strategy, Bittium's secure hardware and application software can also be licensed to other hardware platforms. extremely competitive in terms of technical features. The company has a strong competitive advantage thanks to its extremely resilient and secure wireless technology for tactical communication, which is integrated into hardware and software intended for military and public safety use. The company will continue to develop its performance with software-based AI solutions, and to strengthen this, Bittium has acquired a 24.9% stake in MarshallAI, a provider of AI solutions. The modern software-based Bittium Tactical Wireless IP Network system and the related software-based Bittium Tough SDR™ radios have been developed in collaboration with the Finnish Defence Forces. Bittium's solutions are used in five European countries as part of the defense forces' command-and-control system, and their piloting is underway in several countries. Bittium may consider licensing its software-based radio technology to third parties on a case-by-case basis to enable the sale of its technology to countries with strong domestic defense industry players, where Bittium's software-defined radio technology can be integrated into the overall systems. For government, public safety, critical infrastructure operators, and defense markets, Bittium offers both hardware and software-based secure communication solutions. Bittium's expertise in security is world-class, and the company is internationally recognized as a manufacturer of secure mobile The Focus Areas for the Defense & Security Business Segment's Strategy Period 2026-2028 Ensuring technological leadership by strengthening software and AI capabilities 1 Accelerating international sales and developing strategic partnerships to support growth 2 Expanding business into new markets, and verticals and exploring inorganic growth opportunities 3 Sharper market focus by utilizing the operational directions of defense alliances with unified solutions 4 Directors Bittium in 2025 Report by the Board of Sustainability Statement Financial Statements Corporate Governance Remuneration Report Statement Medical Business Segment Products and Services for Biosignal Measuring In the Medical business segment, Bittium offers its customers medical devices and services for biosignal measuring in the areas of cardiology, neurology, sleep apnea testing and muscle activation measurement. By combining healthcare technology with Bittium's long experience and expertise in wireless and information security technology, the company is in an excellent position to serve customers in the medical sector by offering In the strategy updated in 2025, Bittium decided to focus in the upcoming three-year strategy period on developing the Cardiac and Sleep product families in particular and bringing new products to the market. Cardiac Bittium Faros™ is a versatile waterproof ECG monitor that is used for early detection of cardiac abnormalities in everyday life. Bittium Faros is small and lightweight, and it enables precise full disclosure ECG measurements for long-term holter monitoring, cardiac event monitoring, mobile cardiac telemetry and assessing the autonomic nervous system functions. Bittium Faros outpatient monitoring solutions include several software options for cardiac monitoring. The built-in arrhythmia detection algorithms on the Bittium Faros device are used to record observations and provide remote monitoring. Bittium's solutions enable the earlier discharge of patients and the ability to react to detected arrhythmias faster. Bittium OmegaSnap™ Product Family: Bittium OmegaSnap™ 1-CH ECG Electrode is wearable disposable patch electrode for long-term ECG measurements. It is also suitable for HRV (Heart Rate Variability) applications and heart monitoring for stroke patients. Bittium MiniSnap™ Sensitive 1-CH ECG Electrode is best suited for 24h ECG measurements in small adults and children. Bittium OmegaSnap™ 2-CH ECG Electrode is a two-channel electrode which is the best choice when more than singlechannel measurements are needed for a more comprehensive arrhythmia analysis while maximizing comfort of use. Bittium OmegaSnap™ 3-CH ECG Electrode is a three-channel electrode, and a patient-friendly way to perform traditional three-channel measurements. Bittium OmegaSnap™ 1-CH Adapter and Bittium OmegaSnap™ Multi-CH Adapter - Bittium OmegaSnap ECG electrode and Bittium Faros ECG monitor are connected to each other with the lightweight and inconspicuous Bittium OmegaSnap Adapter. The adapter also allows the device to be temporarily detached from the patch electrode when charging, for example. In the case of remote heart monitoring, it significantly enhances the long-term use of the same electrode, thus ensuring that the skin contacts of the attached electrode remain optimal for the measurement to continue. There are two adapter versions available: the Bittium OmegaSnap 1-CH Adapter is designed for one-channel electrodes, and the Bittium OmegaSnap Multi-CH Adapter is designed for two- and three-channel electrodes. Bittium Cardiac Navigator™ is a software solution for analyzing clinical Holter ECG recordings. Its user-friendly and informative way of presenting data and intuitive analysis tools make it easier and more efficient to analyze ECG measurementsthat last for several days. Bittium Cardiac Navigator is designed to efficiently review longer measurements in a short time and speed up the final diagnosis. Bittium MedicalSuite™ is a cloud-based Software-as-a-Service (SaaS) solution that combines medical analytics software Cardiac Navigator and Respiro Analyst into one seamless and easy-to-use web service. Bittium MedicalSuite is primarily aimed at service providers to support secure data sharing and management between service providers, clinics, and healthcare professionals. The service platform allows doctors to conduct remote consultations regardless of location. MedicalSuite provides healthcare professionals with secure, scalable, and globally accessible remote monitoring and diagnostic workflows - all through a single, unified web service. The system can be applied to various biosignal measurements, and currently serves as the backend for Bittium's ECG and HSAT products. Bittium Faros™ Directors Bittium in 2025 Report by the Board of Sustainability Statement Financial Statements Corporate Governance Remuneration Report Statement Sleep Bittium Respiro™ is an easy-to-use recording device for nocturnal polygraph examinations performed at home for people over 18 years of age. The compact device records data on typical sleep-related breathing disorder patterns, which are pre-analyzed using the web-based Bittium Respiro Analyst™ software and converted into a visually informative format. The Bittium Respiro HSAT is an MDR-approved, user-friendly solution for service providers, hospitals, clinics and health centers. Neuro Bittium BrainStatus TM is a wireless, compact EEG amplifier, that is used together with a disposable, easy-to-use Bittium BrainStatus electrode for continuous EEG measurements in intensive care units. Bittium BrainStatus enables nurses to initiate EEG measurements within minutes, and patient EEG monitoring can be started without the assistance of a clinical neurophysiology department - even during emergency hours Bittium NeurOne TM is an EEG/ERP device designed for research use. The system is particularly suitable for use in conjunction with transcranial magnetic stimulators (TMS-EEG) and can also be used during magnetic resonance imaging (fMRI-EEG). Bittium Respiro™ Bittium BrainStatus™ Directors Bittium in 2025 Report by the Board of Sustainability Statement Financial Statements Corporate Governance Remuneration Report Statement Medical Business Segment Strategy 2026-2028 To focus and streamline the operations and improve the ability to bring new innovative products to market, the company decided to focus on two product areas, Cardiac and Sleep, during the upcoming strategy period, where the markets are expected to grow significantly in the coming years. EEG and EMG solutions will remain in the company's portfolio, but as the markets for these products are still developing, the company will continue to analyse the market potential, which is mainly in the US and develop the product portfolio accordingly. The remote diagnostics market is expected to grow significantly in the coming years, as diagnostics need to be done at an increasingly early stage and at-home-environments rather than hospital settings. Reducing hospital and care days increases the efficiency of healthcare processes and lowers costs. Accurate and high-quality measurement in home environments is a prerequisite for remote diagnostics. In the remote diagnostics market for ECG, Bittium's competitive advantage is based on high-quality and reliable biosignal measurement using embedded wireless technology. The Bittium Faros™ ECG device, which has achieved gold standard status in clinical studies, is designed to be easy-to- half of the elderly and up to 70% of overweight people suffering from sleep apnea. Bittium offers its customers the HSAT device (Home Sleep Apnea Testing), Bittium Respiro™ for diagnosing sleep apnea at home. The device has medical device approval in accordance with the European MDR requirements, and during the upcoming strategy period, the company will focus on building sales channels and strategic partnerships in Europe. The company is also analyses the requirements for obtaining FDA (US Food and Drug Administration) sales approval for the US market together with its partners. The market for long-term EEG measurement is in its early stages of development. The operating environment and customer base differ from Cardiac and Sleep solutions, and the device is designed for use in intensive care. The greatest market potential for Bittium BrainStatus EEG devices is in the United States, but the product does not currently have FDA approval. Bittium continues to analyse the market and develop the product in the long-term to meet market requirements.. Bittium Faros EMG device is based on Bittium's Faros technology and is intended for monitoring the progress of rehabilitation or identifying various muscle or movement disorders, such as Parkinson's disease. Bittium continues to sell the device to its current customer but has decided not to make any broader commitments in this product area. he medical device markets are driven by regulatory approvals, international and local treatment recommendations, and reimbursement practices. Recommendations vary by country and are key to enabling broader distribution and use of products. Remote EKG monitoring has good treatment and reimbursement practices in the United States, while in Europe, reimbursement is lacking from the public healthcare sector, limiting the large-scale scaling of products in the region. Reimbursement practices for home sleep apnea tests are more advanced, and HSAT measurements are well reimbursed in both the United States and the Europe in both public and private healthcare. use and patient-friendly, enabling both short-term Holter measurements and long-term ECG monitoring. Bittium's customers in the ECG market are global device manufacturers, service providers, and traditional medical device distributors During the upcoming strategy period, Bittium will focus on growing its Cardiac business by bringing new competitive devices to market in the short and medium-term in collaboration with existing international key customers and partners. The company also aims to expand its overall offering by bringing competitive disposable electrodes to market and creating partnerships with companies offering AI-based analytics software. The prevalence of sleep apnea has increased significantly in recent decades, with nearly a billion people already suffering from sleep apnea. The home sleep apnea monitoring market has developed since the late 2000s, and awareness of the severity of the disease has increased significantly. The disease is internationally underdiagnosed, and many people suffer from it without knowing it. The prevalence of sleep apnea is significant among overweight adults and the elderly, with over The Focus Areas for the Medical Business Segment for the strategy period 2026-2028 1 Strengthening international growth in the remote EKG diagnostics market by bringing new product innovations to market 2 Expanding the market area for the HSAT sleep apnea test device internationally and strengthening the clinical validation of the product 3 Building the company's recognition in the United States in markets other than remote EKG diagnostics 4 Focusing the sales channel on strategic partnership Engineering Services Business Segment R&D Services In the Engineering Services business segment, Bittium offers its customers product development services and wireless connectivity solutions for developing innovative products in a secure and evolving wireless environment. The company has focused its product development service offering around radio technology and embedded devices. Bittium has world-class expertise in wireless technologies and comprehensive product development throughout the product lifecycle. With the new embedded AI offering, we ensure that our product development service offers our customers smarter, faster and continuously evolving technology utilizing AI. Understanding industry-specific requirements, strong expertise in product development services, wireless devices, digitalization and information security, and ISO 13485:2016 quality certification for healthcare devices and supplies enable the creation of new solutions that generate clear added value for customers and partners. The need for EU countries to strengthen their common defense has also created new business opportunities in the Engineering Services business segment. Demand has increased for a wide range of products and solutions manufactured in Europe and NATO member states. Bittium focuses on defense industrial players in Europe, which have a variety of high-tech smart devices serving the defense sector in their product portfolio. . Directors Bittium in 2025 Report by the Board of Sustainability Statement Financial Statements Corporate Governance Remuneration Report Statement Engineering Services Business Segment Strategy 2026-2028 Leveraging strong defense market growth 2 Developing a more customer-centric offering through productized services 3 Building comprehensive value creation through partnerships 4 With digitalization, secure IoT (Internet of Things) is a significant development area in almost all industries. IoT demand is driven by companies' growing need to digitize their operations, collect data wirelessly, transfer data to the internet and cloud services, and monitor and control devices and systems remotely. Bittium has focused its product development service offering around radio technology and embedded devices, and the company has world-class expertise in the comprehensive development of products for demanding customers. Bittium is uniquely positioned to meet the demand for R&D services in the defense market thanks to its reputation, strong expertise, and market knowledge. The company focuses on industrial players in the defense industry in Europe, which have various high-tech smart devices serving the defense sector in their product portfolios. Developing a more customer-centric offering and productizing services has strengthened customers' understanding of the company's comprehensive service offering in creating added value throughout the product lifecycle. Bittium complements its existing partner network with companies that complement its expertise, for example, by providing cloud software services to customers. Strengthening embedded AI expertise and expanding the offering 1 Embedded AI technology has developed to the point where sufficient computing power can be achieved in small, relatively low-power devices. This increases the possibilities for using AI and grows the demand for embedded AI. Embedded AI builds intelligence into devices, enhancing and expanding the device's functionality. Bittium is investing in strengthening its AI expertise in its own operations, focusing particularly on AI computing performed in embedded devices. Embedded AI strengthens the comprehensive R&D services offering of Engineering Services, which takes into account electronics, software, and connectivity. The next generation of smart devices must be designed from the ground up as a whole, including embedded AI. The collaboration with Edge Impulse, a Qualcomm company, is the first step in developing AI offerings and partnerships The need for European countries to strengthen common defense has also created new business opportunities for the Engineering Services Business Segment. Demand has increased for various products and solutions manufactured in Europe and NATO member countries. The focus areas for the Engineering Services Business Segment for the strategy period 2026-2028 ‌Shares and Shareholders Shares and Shareholders Contents Shares 21 Information to Shareholders 22 Bittium Corporation's Annual General Meeting 2026 23 Bittium in 2025 Report by the Board of Directors Sustainability Statement Financial Statements Corporate Governance Statement Remuneration Report ‌Shares Bittium Corporation's shares are listed on Nasdaq Helsinki Ltd. The company has one series of shares. All shares entitle to the same dividend. Each share carries one vote. The shares have no nominal value. The company's shares are included in the book-entry system maintained by Euroclear Finland Ltd. On 31 December 2025, the fully paid share capital of the Company entered into the Finnish Trade Register was EUR 12,941,270.00, and the total number of the shares was 35,702,264. The accounting par value of the Company's share is EUR 0.10. On 31 December 2025, the Company had 186,248 own shares in its possession, representing 0.52 percent of all Bittium Corporation shares. Share Price and Share Trading in 2025 At the end of 2025 the closing price of Bittium Corporation share was EUR 29.95, the highest price was EUR 30.30 and the lowest EUR 6.20. During the year, a total of 13.9 million shares with the value of EUR 180.3 million changed hands on the Nasdaq Helsinki, corresponding to approximately 39.2 % of the share capital. Bittium Corporation's market capitalization on December 31, 2025 was EUR 1,063.70 million. Trading Codes Bittium Corporation's shares are listed on Nasdaq Helsinki Ltd since 1998. Bittium Corporation's company code in Nasdaq Helsinki Ltd's INET trading system is BITTI and the trading code is BITTI. Trading codes are: Nasdaq Helsinki Ltd BITTI Reuters BITTI.HE Bloomberg BITTIFH 50,000,000 40,000,000 30,000,000 20,000,000 10,000,000 0 350% 300% 250% 200% 150% 100% 50% 0% -50% -100% Trading Volume and Average Share Price 2021-2025 2021 2022 2023 2024 2025 Trading volume (EUR/month) Average share price (EUR) Share Price Development in Nasdaq Helsinki 2021-2025 2021 2022 2023 2024 2025 24.00 22.00 20.00 18.00 16.00 14.00 12.00 10.00 8.00 6.00 4.00 2.00 0.00 Bittium Corporation OMX Helsinki Technology OMX Helsinki Bittium in 2025 Report by the Board of Directors Sustainability Statement Financial Statements Corporate Governance Statement Remuneration Report Dividend and Dividend Policy Bittium Corporation follows a dividend policy that takes into account Group's performance, financial position, capital needs and financing required for growth. Divident from 2024 ‌The Annual General Meeting held on May 7, 2025 decided, in accordance with the Board of Directors' proposal, that a dividend of EUR 0.10 per share be distributed based on the approved balance sheet for the financial period 1 January - 31 December 2024. The dividend was paid to shareholders who were registered in the company's shareholder register maintained by Euroclear Finland Ltd on the dividend record date of 9 May 2025. The dividend payment date was 16 May 2025. All shares of the company, excluding any treasury shares held by the company on the dividend record date, entitle them to a dividend. Proposal by the Board of Directors on the Use of the Profit Shown on the Balance Sheet and the Payment of the Dividend 2025 On December 31, 2025, the parent company's distributable funds were EUR 113,366,682 of which the profit for the financial year is EUR 1,629. The Board of Directors proposes to the Annual General Meeting to be held on April 22, 2026, that a dividend of EUR 0.15 per share be paid based on the balance sheet to be adopted for the financial year ended December 31, 2025. The dividend will be paid to a shareholder who, on the record date for the dividend payment, on April 24, 2026, is registered in the shareholders' register maintained by Euroclear Finland Ltd. The Board of Directors proposes that the dividend payment date be May 4, 2026. The Board of Directors furthermore proposes that the Annual General Meeting would authorize the Board of Directors to decide, at its discretion, on the payment of an extraordinary dividend of EUR 0.15 per share, by September 30, 2026. The Board of Directors expects that this discretionary extraordinary dividend will be paid, unless there is a significant change in the business environment during 2026. The company will publish any possible decisions on dividend payment by the Board of Directors separately, and simultaneously confirm the dividend record and payment dates. Shareholders At the end of 2025, Bittium had 27,895 owners. The ten largest owners owned 28.1 percent of the shares. The share of shares owned by private individuals was 68.4 percent. The share of foreign ownership was 6.7 percent and the share of nominee-registered shareholders was 6.2 percent. Shareholding of the Board of Directors and CEO The members of the Board of Directors, the CEO and their controlling entities owned altogether 3,439,824 shares corresponding to a 9.6 percent ownership stake in the company's issued shares at the end of 2025. Information to Shareholders Bittium's press releases, reviews, earnings forecasts, analyst contact information and other current investor relations material are available on the company's website at https://www.bittium.com/investors . The website also allows you to subscribe to the company's press releases and receive them by email. Financial Reports in 2026 Bittium Corporation will publish financial reports for half a year and the entire financial year and business reviews for the reporting periods January-March and January-September. The structure of the business reviews is lighter than the structure of financial reports. The reports are published both in Finnish and in English at the company's website at www.bittium.com/ investors . In 2026 the Financial Reports are published as follows: Financial Statement Bulletin 2025: on 19 February 2026, at 8.00 am (CET+1) Half Year Financial Report January - June 2026: on 7 August 2026, at 8.00 am (CEST+1) In 2026 the Business Reviews are published as follows: Business Review January-March 2026: on 29 April 2026, at 8.00 am (CEST+1) Business Review January-September 2026: on 29 October 2026, at 8.00 am (CET+1) Silent Period Bittium Corporation follows a three-week silent period before results are announced. In 2026 silent periods are as follows: 29 January - 19 February 2026 8 April - 29 April 2026 17 July - 7 August 2026 8 October - 29 October 2026 Bittium in 2025 Report by the Board of Directors Sustainability Statement Financial Statements Corporate Governance Statement Remuneration Report ‌Bittium Corporation's Annual General Meeting 2026 Notice is given to the shareholders of Bittium Corporation to the Annual General Meeting to be held on Wednesday, 22 April 2026, at 1:00 pm (CEST+1) at Valla Conference Center, at the address Itämerentori 2, 00180 Helsinki. Valla is accessed via the entrance on the side of Itämerenkatu, opposite the Ruoholahti metro station. The reception of persons who have registered for the meeting and the distribution of voting tickets will commence at 12:30 pm (CEST+1). Shareholders may also exercise their right to vote by voting in advance. Instructions for advance voting are presented below. Shareholders entitled to attend the General Meeting may follow the meeting via a remote connection. Following the meeting via remote connection requires registration for the Annual General Meeting in accordance with the instructions below. It is not possible to ask questions, make proposals, speak, or vote through the remote connection, and following the meeting via the remote connection is not considered participation in the General Meeting or the exercise of shareholder rights. Instructions for the Participants in the General Meeting Shareholders registered in the shareholders' register A shareholder who is registered in the shareholders' register of the company maintained by Euroclear Finland Ltd on the record date of the Annual General Meeting, 10 April 2026, has the right to participate in the Annual General Meeting. A shareholder, whose shares are registered on their personal Finnish book-entry account (including an equity savings account), is registered in the shareholders' register of the company. Registration for the Annual General Meeting will begin on 1 April 2026 at 10:00 am (CEST+1). A shareholder registered in the shareholders' register of the company who wishes to participate in the Annual General Meeting must register no later than by 15 April 2026 at 4:00 pm (CEST+1), by which time the registration must have been received. Registration for the Annual General Meeting can be made: via the company's website at https://www.bittium.com/agm ; For shareholders, their legal representatives or proxies the electronic registration requires strong electronic authentication. When a shareholder, their legal representative or proxy logs in to the service through the company's website, he or she is directed to an electronic authentication page. Electronic authentication works with a Finnish, Swedish or Danish bank ID or mobile certificate. by phone to Innovatics Oy at: +358 10 2818 909 on weekdays between 9:00 am (CEST+1) and 12 noon (CEST+1) or between 1 pm and 4:00 pm (CEST+1) Advance voting is not possible when registering by phone. by mail to Innovatics Oy at Innovatics Oy, General Meeting / Bittium Corporation, Ratamestarinkatu 13 A, FI-00520 Helsinki or by e-mail at [email protected] . Shareholders registering by mail or email must submit the registration form and possible advance voting form available on the company's website at www.bittium.com/agm or equivalent information. In connection with the registration, a shareholder shall provide their name, date of birth or business ID, telephone number and e-mail address, as well as the name and date of birth of a possible assistant, legal representative or proxy representative and the legal representative's or proxy representative's phone number and/or e-mail address. The personal data given by shareholders to Bittium Corporation or Innovatics Oy is used only in connection with the Annual General Meeting and for processing of related necessary registrations. A shareholder, their legal representative or proxy representative must be able to prove their identity and/or right of representation at the meeting venue. Holders of Nominee-Registered Shares A holder of nominee-registered shares has the right to participate in the Annual General Meeting by virtue of such shares based on which he or she would be entitled to be registered in the shareholders' register maintained by Euroclear Finland Ltd on the record date of the General Meeting i.e. 10 April 2026. The right to participate requires, in addition, that the shareholder has been temporarily registered in the shareholders' register maintained by Euroclear Finland Ltd based on these shares no later than on 17 April 2026 by 10:00 am (CEST+1). As regards to nominee-registered shares, this constitutes due registration for the Annual General Meeting. Changes in shareholding after the record date of the General Meeting do not affect the right to participate in the General Meeting or the number of voting rights held in the meeting. Holders of nominee-registered shares are advised to request well in advance the necessary instructions from their custodian bank regarding temporary registration in the shareholders' register, the issuing of proxy documents and voting instructions, as well as registration and advance voting. The account manager of the custodian bank must temporarily register the holder of nominee-registered shares who wishes to attend the Annual General Meeting in the shareholders' register of the company by the above date and time at the latest and, if necessary, arrange for advance voting on behalf of the holder of nominee-registered shares before the end of the registration period for holders of nominee-registered shares. Further information on the Annual General Meeting and participation in it is available on the company's website at https://www.bittium.com/agm . Proxy Representative and Powers of Attorney A shareholder may participate in the Annual General Meeting and exercise their rights at the meeting by way of proxy representation. A proxy representative of a shareholder may also vote in advance in accordance with the instructions given in this notice. The proxy representative must personally authenticate to the electronic registration service using strong authentication, after which they may complete the registration and if necessary, vote in advance on behalf of the shareholder who they represent. A proxy representative shall produce a dated proxy document or otherwise in a reliable manner demonstrate their right to represent the shareholder at the General Meeting. Model proxy documents are available on the company's website at https://www.bittium.com/agm . If a shareholder participates in the Annual General Meeting by means of several proxy representatives representing the shareholder with shares at different securities accounts, the shares by which each proxy representative represents the shareholder shall be identified in connection with the registration for the Annual General Meeting. Please submit any proxy documents preferably as an attachment with the electronic registration or alternatively by mail to Innovatics Oy, General Meeting / Bittium Corporation, Ratamestarinkatu 13 A, FI-00520 Helsinki, Finland, or by e-mail to [email protected] before the end of the registration period. Proxy documents shall be presented at the General Meeting upon request. In addition to submitting the proxy documents, the shareholder or their proxy representative must register for the General Meeting as described above. Shareholders can also use the electronic Suomi.fi authorization service to authorize their representative. In this case, the Bittium in 2025 Report by the Board of Directors Sustainability Statement Financial Statements Corporate Governance Statement Remuneration Report shareholder authorizes the proxy representative it has appointed in the Suomi.fi service at www.suomi.fi/e- authorizations using the authorization item "Representation at the General Meeting". The proxy representative must identify themself with strong electronic authentication when registering in the General Meeting service, and after that the electronic authorization is automatically verified. Strong electronic identification works with Finnish, Swedish or Danish online banking credentials or mobile certificates. More information is available at www.suomi.fi/e-authorizations . Advanced Voting Shareholders who have a Finnish book-entry account (including an equity savings account) may vote in advance between 1 April 2026, 10:00 am (CEST+1) and 15 April 2026 4:00 pm (CEST+1) on certain items on the agenda of the Annual General Meeting. via the company's website at https://www.bittium.com/agm . Login to the service is done in the same way as for registration above. by mail or email by submitting the advance voting form available on the company's website or equivalent information to Innovatics Oy at the address Innovatics Oy, General Meeting / Bittium Corporation, Ratamestarinkatu 13 A, 00520 Helsinki, Finland, or by email at [email protected] . The advance voting form will be available on the company's website no later than on 1 April 2026 at 10:00 a.m. (CEST+1). When submitting the advance voting form, the statutory representative or authorized proxy representative of a shareholder must produce a dated proxy document or otherwise in a reliable manner demonstrate their right to represent the shareholder at the General Meeting. Advance votes must be received by the time the advance voting ends. The submission of votes by mail or e-mail so that they are received before the end of the registration and advance voting period will be considered as registration for the General Meeting, provided that the submission contains the above information required for registration. A shareholder who has voted in advance cannot exercise the right to ask questions or demand a vote under the Finnish Limited Liability Companies Act unless they attend the General Meeting in person or by proxy. With respect to nominee-registered shareholders, advance voting is carried out by the account manager. The account manager may vote in advance on behalf of the holders of nominee-registered shares which they represent in accordance with the voting instructions given by such shareholders during the registration period set for the nominee-registered shareholders. Proposals for resolution that are subject to advance voting are deemed to have been presented at the General Meeting without any changes. Instructions on electronic advance voting are also available on the company's website at https://www.bittium.com/agm from 10:00 a.m. (CEST+1) on 1 April 2026 at the latest. Other Instructions / information The language of the Annual General Meeting is Finnish. Shareholders entitled to attend the General Meeting may follow the meeting via the remote connection. Following the meeting via the remote connection requires registration for the Annual General Meeting in accordance with the instructions above. The remote connection to the Annual General Meeting will be implemented through Inderes Plc's virtual general meeting service on the Videosync platform, which provides video and audio access to the meeting. Using the remote connection does not require any paid software or downloads. Using the remote connection requires, in addition to an internet connection, a computer, smartphone or tablet equipped with speakers or headphones for audio. It is recommended to use one of the following browsers for the remote connection: Chrome, Firefox, Edge, Safari or Opera. A link and password for the remote connection will be sent by e-mail and/or text message to the e-mail address and/or mobile phone number provided at registration to all registered participants no later than the day before the Annual General Meeting. Logging into the meeting system well before the scheduled start time is recommended. Detailed information about the meeting service, the service provider's contact details, and guidance for potential technical issues can be found at https://vagm.fi/support and a link to test the compatibility of your computer, smartphone or tablet and internet connection is available at https:// b2b.inderes.com/knowledge-base/compatibility-testing . It is recommended to review the detailed participation instructions before the start of the Annual General Meeting. It is not possible to ask questions, make proposals, speak, or vote via the remote connection and following the meeting via the remote connection is not considered participation in the General Meeting or the exercise of shareholder rights. Only those shareholders who have voted in advance or who attend the meeting in person or by proxy at the meeting venue are considered to be participating in the General Meeting. Shareholders present at the General Meeting have the right to ask questions about the matters discussed at the meeting in accordance with Chapter 5, Section 25 of the Finnish Limited Liability Companies Act. Changes in shareholdings after the record date of the Annual General Meeting do not affect the right to participate in the Annual General Meeting or the number of votes of the shareholder at the General Meeting. On the date of this notice, Bittium Corporation has a total of 35,702,264 shares and votes. On the date of this notice, the company holds 186,248 treasury shares that do not entitle to participation in the General Meeting. The information concerning the Annual General Meeting required under the Finnish Limited Liability Companies Act and the Securities Markets Act is available on the company's website at https://www.bittium.com/agm . Coffee will be served in connection with the meeting, during which there will also be an opportunity to familiarize with the company's products and services. Documents of the General Meeting The above-mentioned resolution proposals for the matters on the agenda of the Annual General Meeting as well as this notice are available on Bittium Corporation's website at https://www.bittium.com/agm . Bittium Corporation's Annual Report, which includes the Company's Financial Statements, the Consolidated Financial Statements, the Report of the Board of Directors (including the corporate sustainability report), the Remuneration Report, the Auditor's Report, the Assurance Report on the Sustainability Report and the Corporate Governance Statement, is available on the above-mentioned website on 31 March 2026. The resolution proposals and the other above-mentioned documents will also be available at the Annual General Meeting. The minutes of the Annual General Meeting will be available on the above-mentioned website no later than on 6 May 2026. ‌Report by the Board of Directors and Financial Statements ‌Report by the Board of Directors 2025 Contents Report by the Board of Directors The Year 2025 in Brief 27 Financial Performance in January-December 2025 28 Refined Strategy, Updated Long-Term Financial Targets 31 Other Significant Events During the Reporting Period 33 Sustainability Statement ESRS 2 - General Information 51 ESRS Content Index 69 Data Points that Derive from Other EU Legislation 71 Environmental Information 77 Development of Market Environment and Business Segments in January-December 2025 34 EU Taxonomy 78 ESRS E1 - Climate 84 Significant Events after the Reporting Period 38 Personnel 38 Incentive Systems 39 Corporate Governance Statement 39 Decisions of the Annual General Meeting 2025 40 Risks and Uncertainties 42 Outlook for 2026 44 Proposal by the Board of Directors for the Distribution of the Dividend 44 Shares and Share Capital 44 The Group's Key Ratios 46 Calculation of Key Ratios 48 ESRS E5 - Resource Use and Circular Economy 96 Social Information 101 ESRS S1 - Own Workforce 102 ESRS S2 -Workers in the Value Chain 109 ESRS S4 - Consumers and End-Users 112 Governance Information 115 ESRS G1 - Governance Information 116 Directors Bittium in 2025 Report by the Board of Sustainability Statement Financial Statements Corporate Governance Remuneration Report Statement ‌The Year 2025 in Brief A breakthrough year for the internationalization of the Defense business. The order backlog and EBITDA almost doubled. 2025 was a year of international growth for Bittium. The product development investments of the past years and the accelerated efforts in internationalization and commercialization under the new strategy began to materialize in the results. In support of the updated long-term financial growth expectations in September, the company specified its strategy to accelerate international growth. The deterioration of the global security situation and the increase in tensions between the major global powers have accelerated the European effort to reduce dependence on actors outside Europe. The strategic importance of European technology is also emphasized 2025 was clearly a breakthrough year for the internationalization of the company's Defense business. Demand for tactical networks and radios grew significantly, and with orders received during the latter part of the year, the company raised its financial outlook for 2025. 150.0 30.0 100.0 119.3 100.0 86.9 83 20.0 19.4 77.9 75.0 75.2 85.2 10.0 8.6 3.2 50.0 45.1 50.0 0.3 29.5 28.1 27.6 0.0 25.0 0.0 -10.0 -4.3 2021 2022 2023 2024 2025 0.0 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 Net sales (MEUR) Operating result (MEUR) Order backlog (MEUR) In the Engineering Services Business Segment, we focused on renewing our offering and launched a new embedded AI offering. Also the sales were focused towards the defense market, which offers great potential, where the company clearly has a significant competitive advantage. The year was a strategically significant for the Medical Business Segment. Focusing on the Cardiac and Sleep product families enables better allocation of resources to support international growth. Group Financial Performance Unless otherwise mentioned, the figures in brackets refer to the corresponding period in the previous year. Bittium's net sales in January-December 2025 grew by 40.1 percent year-on-year to EUR 119.3 million (EUR 85.2 million). The development of net sales was particularly driven by the significant growth in sales in the Defense & Security Business Segment. Product-based net sales were EUR 87.4 million (EUR 52.0 million), representing 73.2 percent of total net sales (61.0 percent). Service-based net sales were EUR 31.9 million (EUR 33.2 million), representing 26.8 percent of total net sales (39.0 percent). In the second quarter, a total of approximately EUR 0.9 million non-recurring costs, affecting EBITDA, operating result and result for the period, were recorded in the second quarter income statement, resulting from change negotiations held in the Finnish company of the Medical Business Segment and other measures aimed at streamlining operations and processes. EBITDA was EUR 32.4 million (EUR 17.3 million). R&D investments were EUR 15.3 million (EUR 13.5 million), representing 12.9 percent of net sales (15.9 percent). EUR 4.1 million was capitalized, which was 1.5 million less than a year ago. The operating result was EUR 19.4 million (EUR 8.6 million), representing 16.3 percent of net sales (10.1 percent). The result of the period was EUR 21.3 million (EUR 7.3 million) and earnings per share were EUR 0.601 (EUR 0.205). Cash flow from operating activities was EUR 15.3 million (EUR 24.4 million). Net cash flow was EUR -0.9 million (EUR 13.4 million). Net cash flow included profit for the period of EUR 21.3 million, change in net working capital of EUR -17.4 million, R&D investments in own products of EUR 4.1 million, and a dividend payment of EUR 3.5 million (profit for the period of EUR 7.3 million, change in net working capital of EUR 7.1 million, R&D investments in own products of EUR 5.6 million, and a dividend payment of EUR 2.1 million). The equity ratio was 70.5 percent (69.9 percent). Net gearing ratio was -0.8 percent (-0.7 percent). Order backlog at the end of December was EUR 77.9 million (EUR 45.1 million). Directors Bittium in 2025 Report by the Board of Sustainability Statement Financial Statements Corporate Governance Remuneration Report Statement ‌Financial Performance in January-December 2025 Consolidated Statement of Comprehensive Income Statement of Financial Position and Financing During the review period, the company's net working capital Net sales 119.3 85.2 Operating profit/loss 19.4 8.6 Financial income and expenses -0.4 -1.2 Result before tax 19.0 7.4 Redult for the period 21.3 7.3 Total comprehensive income for the period 21.1 7.4 Earnings per share, EUR 0.601 0.205 MEUR 1-12/2025 12 months 1-12/2024 12 months Non-current assets 83.6 82.8 Current assets 106.8 82.4 Total assets 190.4 165.1 Share capital 12.9 12.9 Other capital 117.9 99.9 Total equity 130.8 112.8 Non-current liabilities 17.0 18.4 Current liabilities 42.6 34.0 Total equity and liabilities 190.4 165.1 MEUR CASH FLOW OF THE REVIEW Dec. 31, 2025 Dec. 31, 2024 increased by EUR 17.4 million, which weakened cash flow from operating activities. The increase in working capital was due to high sales in the latter part of the year, which significantly increased the amount of accounts receivables. The amount of accounts receivables at the end of the year was EUR 53.3 million. Cash flow from investing activities increased from the previous year and was EUR 10.6 million (EUR 6.7 million). The amount of investments was increased by the investment made in Marshall AI (Kradient Intelligence Oy), an artificial intelligence developer, during the financial period. In addition, the company continued to develop the products, technologies and offerings of the Defense & Security and Medical business segments. The number of gross investments in the period under review was EUR 11.3 million (EUR 7.4 million). Net investments for the review period totaled to EUR 11.2 million (EUR 7.3 million). The total amount of depreciations during the period under review was EUR 13.0 million (EUR 8.6 million). The amount of interest-bearing debt including finance lease liabilities was EUR 19.9 million at the end of the reporting period (EUR 20.9 million). Bittium's equity ratio at the end of the period was 70.5 percent (69.9 percent). PERIOD, MEUR 1-12/2025 1-12/2024 At the end of review period, Bittium had a EUR 17.0 million senior loan and a EUR 10.0 million overdraft credit facility agreement with Nordea Bank Finland Plc. The maturity date for the senior loan is May 24, 2029, and it will be amortized by EUR + profit of the period +/- adjustment of accural basis items 33.3 18.9 +/- change in net working capital -17.4 7.1 - interest, taxes and dividens -0.6 -1.5 = net cash from operating activities 15.3 24.4 - net cash from investing activities -10.6 -6.7 - net cash from financing activities -5.6 -4.3 = net change in cash and equivalents -0.9 13.4 1.0 million every six months. The overdraft credit facility agreement is valid until May 24, 2026, after which it will continue to be valid indefinitely. At the end of the review period, no limit from the overdraft credit facility agreement was in use. These agreements include customary covenants related to, for example, equity ratio, interest-bearing debts and EBITDA, as well as the transfer and pledging of assets, the conditions of which were fulfilled at the end of the review period. The company's financial loans and their changes are entered in the company's balance sheet as long-term and short-term loans in accordance with the repayment plan. Directors Bittium in 2025 Report by the Board of Sustainability Statement Financial Statements Corporate Governance Remuneration Report Statement Half Year Figures Quarterly Figures GROUP'S NET SALES AND GROUP'S NET SALES AND OPERATING RESULT, MEUR 2H/25 1H/25 2H/24 1H/24 OPERATING RESULT, MEUR 4Q/25 3Q/25 2Q/25 1Q/25 4Q/24 Net sales 77.1 42.2 47.2 37.9 Operating profit (loss) 17.9 1.5 5.7 2.9 Result before taxes 17.4 1.6 5.1 2.3 Result for the period 19.8 1.5 5.0 2.3 Net sales 53.9 23.1 22.9 19.3 33.2 Operating profit (loss) 15.4 2.5 1.1 0.4 6.0 Result before taxes 15.1 2.3 1.2 0.4 5.7 Result for the period 17.5 2.3 1.1 0.4 5.6 DISTRIBUTION OF NET SALES BY PRODUCT AND SERVICES, MEUR AND % 2H/25 1H/25 2H/24 1H/24 DISTRIBUTION OF NET SALES BY PRODUCT AND SERVICES, MEUR AND % 4Q/25 3Q/25 2Q/25 1Q/25 4Q/24 Product based net sales 61.5 79.8% 25.9 61.3% 29.3 62.1% 22.6 59.6% Services based net sales 15.6 20.2% 16.3 38.7% 17.9 37.9% 15.3 40.4% Product based net sales 45.7 84.7% 15.8 68.3% 15.1 66.0% 10.8 55.8% 22.3 67.2% Services based net sales 8.3 15.3% 7.4 31.8% 7.8 34.0% 8.5 44.2% 10.9 32.8% DISTRIBUTION OF NET SALES BY DISTRIBUTION OF NET SALES BY MARKET AREAS, MEUR AND % 2H/25 1H/25 2H/24 1H/24 MARKET AREAS, MEUR AND % 4Q/25 3Q/25 2Q/25 1Q/25 4Q/24 Asia 0.8 1.0% 0.4 0.9% 0.8 1.7% 0.4 1.1% North and South America 8.9 11.6% 9.0 21.4% 8.9 18.9% 10.3 27.1% Europe 67.4 87.4% 32.7 77.6% 37.5 79.4% 27.3 71.9% Asia 0.3 0.5% 0.5 2.2% 0.2 0.7% 0.2 1.2% 0.4 1.1% North and South America 4.9 9.1% 4.0 17.3% 4.6 20.1% 4.4 23.0% 5.2 15.6% Europe 48.8 90.4% 18.6 80.5% 18.1 79.2% 14.6 75.8% 27.7 83.3% Directors Bittium in 2025 Report by the Board of Sustainability Statement Financial Statements Corporate Governance Remuneration Report Statement Research and Development Bittium continued to invest in developing its own products and solutions. In January-December 2025 R&D investments were EUR 15.3 million (EUR 13.5 million), representing 12.9 percent of net sales (15.9 percent). R&D investments were focused on developing new products in the Medical and Defense & Security Business Segments, as well as on continuously improving the competitiveness of existing products, systems and their software, and developing new features. Bittium Tough Mobile™ 3 R&D INVESTMENTS, MEUR 1-12/2025 1-12/2024 Total R&D investments 15.3 13.5 Capitalized R&D investments -4.1 -5.6 Depreciations and impairment of R&D investments 10.0 5.6 Cost impact on income statement 21.3 13.5 R&D investments, % of net sales 12.9% 15.9% CAPITALIZED R&D INVESTMENTS IN THE BALANCE SHEET, MEUR 1-12/2025 1-12/2024 Balance sheet value in the beggining of period 50.5 50.5 Additions during the period 4.1 5.6 Depreciations and impairment of R&D investments -10.0 -5.6 Balance sheet value at the end of the period 44.6 50.5

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