Grab2Go : 2024 1st 6 MONTH INTERIM REPORT

About this update from Grab2go As

Grab2Go Company Announcement Grab2Go AS 2024 1st 6 MONTH INTERIM REPORT Grab2Go AS publishes 2024 1st 6 month unaudited interim report. Results The turnover for the first half of the financial year 2024 is 1 162 euros, which consists of the sale of device components. (The turnover for the first half of 2023 was 278 euros). In addition to sales revenue, the company has received a grant of 10 000 euros from Tehnopoli's AI accelerator in the first half of 2024. The net loss for the first half of the financial year 2024 is 98 thousand euros (the loss for 6 months of 2023 was 216 thousand euros). Operating expenses for the 1st half of the 2024 financial year have been significantly cut. The decrease in salary costs is 99 thousand euros compared to the same period of the previous year due to the non remuneration of the board members. Significantly lower and other operating expenses, which in 2023 were affected by preparatory costs for listing on First North, which consisted of advisor fees, stock exchange fees and settlement fees. As of 30.06.2024, the company's balance sheet total was 752 311 euros (30.06.2023: 1 092 667 euros). Current assets amounted to 180 688 euros (30.06.2023: 364 021 euros). The volume of fixed assets was 571 643 euros (30.06.2023: 728 646 euros). The company's equity was 741 248 euros, which constituted 98,5% of the balance sheet volume (30.06.2023: 1 040 981, 95,3% of the balance sheet volume). In the first six months of the financial year 2024, 18 thousand euros were invested in the development of its product (53 thousand euros in the first half of 2023), which consisted of software development costs of 7 thousand euros and the rest in hardware development. As a result of the investments, the company has completed a basic software and hardware solution, to which sector-specific additional functionality can be added according to the customer's needs. The company's cash flow in the first half of 2024 was -76 thousand euros (107 thousand euros in the comparable period of 2023), including cash flow from business activities -50 thousand euros and cash flow from investment activities -26 thousand euros. Highlight of sales activities During Grab2Go delegation visit to Toronto in June 2024, we focused on several important activities with aim of opening up the Canadian pharmacy market. Cooperation and communication with regulatory authorities took place in five Canadian provinces. Target was the mapping of public sector expectations and to identify potential pharmacy chains for cooperation. As a result, four potential customers were identified and the agreed meetings are ongoing. We continue to work on creating a value proposition and marketing plan that meets market needs, as well as adapting service level agreements according to local requirements. We are actively looking for local distributors and are striving to find a local pilot customer. To ensure quality service, we are also developing a training program for local dealers. In the convenience store sector, we installed the technology in the Ülemiste City business district and opened a convenience store on 19.09.2024 in cooperation with the Selver retail chain. This pilot project offers an opportunity to introduce and test innovative technology that aims to provide a more convenient shopping experience and address retail challenges such as labor shortages and 24/7 service costs. Customers have the opportunity to visit the store at a time that suits them, and the store has self-service cash registers where the goods can be picked up conveniently and quickly. The project is supported by campus infrastructure, which allows testing the solution among the tech-savvy community, providing valuable feedback and assessing market readiness. Below are presented the financial reports of reporting period. Statement of financial position (In Euros) 30.06.2024 31.12.2023 30.06.2023 31.12.2022 Assets Current assets Cash and cash equivalents 12 888 89 219 280 294 172 924 Receivables and prepayments 1 708 6 407 16 727 6 664 Inventories 166 072 141 037 67 000 67 000 Total current assets 180 668 236 663 364 021 246 588 Non-current assets Property, plant and equipment 9 664 15 011 127 238 142 106 Intangible assets 561 979 604 259 601 408 549 443 Total non-current assets 571 643 619 270 728 646 691 549 Total assets 752 311 855 933 1 092 667 938 137 Liabilities and equity Liabilities Current liabilities Loan liabilities 0 0 300 003 Payables and prepayments 11 063 17 124 51 686 58 381 Total current liabilities 11 063 17 124 51 686 358 384 Total liabilities 11 063 17 124 51 686 358 384 Equity Issued capital 812 527 812 527 812 527 752 270 Share premium 878 394 878 394 878 394 262 872 Retained earnings (loss) -852 112 -435 389 -435 389 -13 474 Annual period profit (loss) -97 561 -416 723 -214 551 -421 915 Total equity 741 248 838 809 1 040 981 579 753 Total liabilities and equity 752 311 855 933 1 092 667 938 137 Income statement (In Euros) 01.01.2024 - 30.06.2024 01.01.2023 - 30.06.2023 Revenue 1 162 278 Other income 10 000 0 Raw materials and consumables used -8 486 -1 234 Other operating expense -37 327 -94 720 Employee expense 0 -98 943 Depreciation and impairment loss (reversal) -60 296 -15 696 Significant impairment of current assets 0 Other expenses -2 621 -1 222 Operating profit (loss) -97 568 -211 537 Interest income 7 27 Interest expenses 0 -3 041 Profit (loss) before tax -97 561 -214 551 Annual period profit (loss) -97 561 -214 551 Cash flow report (In Euros) 01.01.2024 - 30.06.2024 01.01.2023 - 30.06.2023 Cash flows from operating activities Profit/loss (-) for the period -97 568 -211 537 Adjustments Depreciation and amortization, impairment 60 296 15 696 Profit/loss (-) from sales of fixed assets 2 621 0 Other adjustments -10 000 0 Total adjustments 52 917 15 696 Changes in trade receivables and prepayments 4 699 -10 063 Changes in inventories -25 035 0 Changes in trade payables and prepayments 5 122 -1 605 Interest received 7 27 Proceeds from grants 10 000 0 Total cash flow (-outflow) from operating activities -49 859 -207 482 Cash flows from investing activities Payments for Property, plant and equity and Intangible assets -28 932 -56 567 Proceeds from sales of tangible and intangible assets 2 459 0 Total cash flow (-outflow) from investing activities -26 473 -56 567 Proceeds from issuance of shares 0 347 419 Proceeds from sales of own shares 0 24 000 Total cash flow (-outflow) from financing activities 0 371 419 Total net cash flow (-outflow) -76 331 107 370 Cash and cash equivalents at the beginning of the period 89 219 172 924 Changes in cash and cash equivalents 12 888 280 294 Cash and cash equivalents at the end of the period 12 888 280 294 Changes in equity (In Euros) Issued capital Share premium Retained earnings (loss) Total 31.12.2022 752 270 262 872 -435 389 579 753 Profit for the period 0 0 -214 551 -214 551 Issued shares 60 257 615 522 675 779 30.06.2023 812 527 878 394 -649 940 1 040 981 Issued capital Share premium Retained earnings (loss) Total 30.06.2023 812 527 878 394 -649 940 1 040 981 Profit for the period 0 0 -202 172 -202 172 31.12.2023 812 527 878 394 -852 112 838 809 Issued capital Share premium Retained earnings (loss) Total 31.12.2023 812 527 878 394 -852 112 838 809 Profit for the period 0 0 -97 561 -97 561 30.06.2024 812 527 878 394 -949 673 741 248 Additional information can be found on attached document. Mart Viilipus, [email protected], tel: +372 5305 3173 Attachments: 2024 1 poolaasta aruanne Grab2Go_eng.pdf

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