Greater Than AbOMXSTO: GREAT

Interim report January – March 2026 English

· Issued by Greater Than Ab




Greater Than Interim report January - March 2026

During the quarter, we entered into a commercial agreement with Honda, marking an important step in bringing our joint solution to market. The collaboration has now moved into an implementation phase, with preparations underway for launch and initial market introduction.

Liselott Johansson, CEO

The Group January - March 2026 (KSEK)

  • Net sales 1 148 (1 274) -10%

  • Operating result -11 301 (-12 073)

  • Result for the period -9 240 (-16 140)

  • Earnings per share before and after dilution -0.53* (-0.99)

    * Earnings per share after tax, calculated on the result for the period and the average number of shares for the period January -March, 18 782 486 shares.

    About Greater Than

    Greater Than is a global risk intelligence company that specializes in road safety and climate impact. Through the power of AI, we harmonize and analyze huge volumes of driving data to deliver actionable risk intelligence, so any organization can be proactive to prevent road crashes and reduce climate impact.

    Summary of the first quarter

  • Net sales for Q1 2026 amounted to 1.1 MSEK, compared to 1.3 MSEK in Q1 2025.

  • EBIT for the quarter was -9.2 MSEK, compared to

    -16.1 MSEK in Q1 2025, negatively impacted by interests and litigation-related costs of approximately 1.1 MSEK, positively impacted by currency fluctuations of approximately 2.1 MSEK.

  • Johanna Forseke will assume the role of CEO of Greater Than on May 8, 2026.

Greater Than AB (publ) - Interim report January - March 2026

Org: 556965-2885

The English report is a translation only and in case 1

of any discrepancy the Swedish report shall prevail.

C EO W O R D S

From partnerships to execution and market readiness

At the beginning of 2026, our focus has been on execution, scaling, and realizing the value of the partnerships established over the past year.

During the quarter, we entered into a commercial agreement with Honda, marking an important step in bringing our joint solution to market. The collaboration has now moved into an implementation phase, with preparations underway for launch and initial market introduction. This development reflects both the commercial potential of the offering and the strength of combining Honda's global reach with Greater Than's AI technology.

In parallel, our collaboration with the Fédération Internationale de l'Automobile (FIA) continues to develop positively. Interest in the FIA Driver Safety Index (FIA DSI) is growing, and following the progress made in Q4 2025, the solution has received encouraging initial feedback. The FIA is now laying the foundation for broader international adoption.

Developing our relationships with existing customers remains a central part of our strategy. We see continued opportunities to deepen engagement and expand the use of our AI as the market matures and demand for data-driven risk insights increases.

Our overall strategy remains clear: to grow through strong partnerships with global players, where our technology can be implemented at scale and contribute to safer roads worldwide. The progress we are now seeing, both in terms of commercialization and market readiness, is a clear indication that this strategy is delivering.

After more than 18 years as CEO of Greater Than, my tenure is coming to an end. I look back with great pride on what we have built together - from an idea and vision to a company with global relevance, strong partnerships, and a well-defined strategy for continued growth.



I am sincerely grateful to all employees, past and present, as well as to our customers, suppliers, partners, and owners who have contributed to this journey. I wish Johanna Forseke every success as she takes on the role of CEO.

Greater Than is well positioned for its next phase, and I look forward to following its development from a new perspective.

Liselott Johansson, CEO

Greater Than AB (publ) - Interim report January - March 2026 2

W O R L D -L E AD I N G T E CH N O L O G Y

Greater Than provides risk intelligence into road safety and climate impact Why?

Globally, road transportation is vital, for people's everyday lives, for businesses, and for economies to thrive. Yet, road transportation is responsible for approximately 15% of the world's total CO2 emissions. And it comes at a huge human cost, with approximately

1.2 million people killed and 20-50 million people injured in road traffic crashes every year. Figures show that approximately 1 in 3 road deaths occur while someone is driving for work.

For companies, therefore, the potential risks associated with road transportation are high and employers want to act, especially with growing pressure to operate in an environmentally and socially responsible way.

With Greater Than's technology, organizations can visualize their biggest road safety and climate impact risks before they happen so they can be proactive to prevent and protect.

How?

Our AI technology enables us to analyze and harmonize big volumes of driving data to deliver actionable risk intelligence into road safety and climate impact.

For whom?

We sell our solutions to any organization that wants to access road safety and climate impact risk intelligence. Typically, this includes companies working within the automotive, mobility, fleet management and motor insurance industries who want to use our risk intelligence to optimize their offerings and launch new data-driven products for their customers. Our focus has recently widened to include direct relationships with large fleet customers who want to uncover new risk insights to improve their safety programs and access new data for sustainability management and ESG reporting.

Our history

Greater Than came to life in 2004 when our founder identified there was no direct correlation between "traditional" telematics parameters (including harsh braking, acceleration, cornering, and speed to speed sign) and crash risk or fuel consumption.

By investigating the "rules based" model and experimenting with an early AI, we eventually trained an algorithm that could predict who would crash and why, as well as their impact on the planet. Working with clients over the years, we have demonstrated our AI's ability to predict crashes and climate impact with astonishing accuracy.

Twenty-years on, our AI remains globally unique. Developed years before most people had heard of AI, our longevity, and capabilities in analyzing driver impact are unrivaled. And it's why we remain ahead of our competitors as the global benchmark for measuring the driver influence on safety and sustainability.

Greater Than AB (publ) - Interim report January - March 2026 3

Greater Than AB (publ) - Interim report January - March 2026 3

W O R L D -L E AD I N G T E CH N O L O G Y

Why invest in Greater Than

20+

years of training its AI

>7Bn

driver profiles trained with real driving, fuel and crash data

Greater Than is a global risk intelligence company, providing proven customer benefits in a huge market with enormous profitability potential. Greater Than addresses two of the world's largest challenges, road crashes and climate change caused by mobility.

Unique intelligence

  • Measures the proportion of fuel consumption, emissions and EV battery use that the driver influences, independent of external factors including traffic, road and weather conditions

  • Predicts crash probability, independent of factors including age, vehicle type, job and geography

  • Harmonizes data from sources including smartphone, OEM, dashcam and telematics into one readable data set

    Growing markets

  • ESG reporting regulations increase global demand for safety and sustainability data within transportation activities

  • Demand for AI continues to grow rapidly, with the market set to exceed 826 billion USD in 2030

  • An increased focus on the driver experience within the evolving automotive industry is influencing the development of new partnerships between industry players and technology suppliers

    Globally scalable

  • AI trained in over 106 countries and 1,600 cities

  • Comparable risk across the whole world and across all vehicle makes and models

  • 100% digital services requiring no local adaptation

    Integration and accessibility

  • AI is agnostic of data source and hardware

  • Only 1km of data needed to start prediction

  • Quick set up via API connection or SDK in existing app or connected vehicle

    Safety and sustainability at the core

  • Supports UN Sustainable Development Goals

  • Used to predict and prevent road crashes

  • Incentivizes safe, eco-friendly driving behaviors

    Global scoring standard

  • Extensively tested and validated

  • Makes driver performance comparable independent of car make, model, fuel type, geography

  • Utilized in the FIA Smart Driving Challenge - the world's only challenge that unites all road users and encourages safe, sustainable driving



Significant events

Significant events during the first quarter

  • The Board appoints the company's current Deputy CEO, Johanna Forseke, as the new CEO of Greater Than, effective May 2026.

  • Greater Than announces a licensing agreement with Honda to power their new crash risk map solution. The solution, which visualizes crash probability and risk patterns on road stretches across geographic regions, is planned to be launched in Japan in 2026, followed by a gradual rollout to additional markets, scaling toward global adoption.

  • FIA successfully launched the FIA DSI in Q4, generating clear market traction. The focus is now on sales conversion. The sales cycle is currently estimated at 3-12 months, depending on the customer segment; revenues are therefore expected later than the initial projection of Q1 2026.

    Significant events after the end of the period

  • The Fédération Internationale de l'Automobile (FIA) launches the eighth season of the FIA Smart Driving Challenge (SDC), powered by Greater Than's AI.

  • The Nomination Committee has proposed to the Annual General Meeting that, for the period until the end of the next Annual General Meeting, Karin Forseke, Björn Ulvgården, Mathias Svensson and Sten Forseke be re-elected as Board members, and that Michael Gidlund

    and Anders Håkanson be elected as new Board members. Furthermore, Karin Forseke is proposed as Chair of the Board. Martin Vogel has informed the Nomination Committee that he is not available for re-election.

  • Michael Gidlund and Anders Håkanson are proposed for election to Greater Than's Board of Directors. Michael has extensive experience as a leader in business development and strategy within international environments. Anders has a long background in the pharmaceutical industry and has built and successfully developed several companies. Since autumn 2025, he has been a shareholder in Greater Than through Loer AB.

  • Greater Than announces that its AI has been independently validated by AI expert Anders Arpteg, who confirmed the scientific rigor of the unique pattern-based model.

  • Nasdaq Stockholm's Disciplinary Committee has, through two separate decisions, imposed a fine on Greater Than AB corresponding to a total of seven annual fees, amounting to approximately SEK 1.4 million. The decisions relate to breaches of rules regarding disclosure of information and refer to three circumstances during 2024 and 2025: the publication of the half-year report on August 14, 2024, the announcement of a letter of intent on August 18, 2025, and the provision of requested material to the exchange during autumn 2025.

Financial overview

Comments - financial results

For the first quarter of 2026, January to March, net sales amounted to 1 148 KSEK (1 274 KSEK). Total revenue

amounted to 3 039 KSEK (3 501 KSEK).

Revenue stems from applications based on our Crash Probability and Climate Impact Scores, from customers within automotive, insurance, and mobility sectors.

The Company has long-standing relationships with several of the world's leading automotive, insurance, and mobility brands, and to build on this promising foundation, we have implemented a strategy to streamline our operations and focus on the largest business opportunities.

We have entered into an agreement with Honda, further strengthening our position in the global mobility market and confirming the value of our technology. In parallel, our collaboration with the Fédération Internationale de l'Automobile (FIA) continues to develop positively. Following the progress made in Q4 2025, the FIA Driver Safety Index (FIA DSI) has received encouraging initial feedback and addresses a significant market need by harmonizing GPS data from any source into one universal and comparable language for driver risk. The FIA is now laying the foundation for broader international adoption.

These developments clearly demonstrate the strategic fit of our solutions and reinforce the strength of our AI technology in addressing global market needs.

The result for the period January to March amounted to -9 240 KSEK (-16 140 KSEK). The result was negatively impacted by interests and litigation-related costs of approximately 1,1 KSEK, positively impacted by currency fluctuations of approximately 2,1 MSEK.

The legal processes against ABAX will be addressed in the District Court of Stockholm, where litigation concerning material breach of contract is planned for September 2026 and litigation concerning IP infringements is planned for April 2027.

The Board of Directors continuously reviews the Company's forecast cash flows to secure financing and capital to be able to run the business based on the strategic direction decided by the Board. Should the need for additional capital arise, the Board of Directors deems that the Company has good prerequisites to be able to introduce additional financing.

The Parent Company

The Parent Company's operations consist of selling risk intelligence services, primarily to automotive, insurance and mobility companies. The Parent Company's total revenue for the period January to March was KSEK 2 695 (KSEK 3 340). Net sales were KSEK 804 (KSEK 1 114). The

Parent Company's result for the period of January to March amounted to KSEK -10 081 (-11 021 KSEK). The Company's primary expenses relate to personnel, sales, development activities, currency fluctuations and legal cost.

Principles for the preparation of the report

The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) and IFRIC interpretations as adopted by the EU. This quarterly report has been prepared for the Group in accordance with the Swedish Annual Accounts Act and IAS 34 Interim Financial Reporting. The Parent Company's interim report has been prepared in accordance with the Swedish Annual Accounts Act and RFR 2, Accounting for Legal Entities, published by the Swedish Financial Reporting Board. Applied accounting principles are the same as those applied in the 2025 annual report.

Risks and uncertainties

Risks and uncertainties are described in the previously published annual report. No significant changes have taken place that change the Company's risk profile.

Assessments and estimates

No new significant assessments or estimates have been made since the previous interim reports or annual reports that have had an effect on the period.

Related party transactions

No related party transactions took place during the period, with the exception of the previously agreed remuneration to the Board of Directors and management in accordance with the AGM resolutions and agreements.

Outstanding shares

The total number of shares and votes in Greater Than AB amounted to 18 782 486 shares as of 31 March 2026.

Ownership 31 March 2026

shares

Largest shareholders Number of

% of total capital

Review by auditor

The report for the first quarter of 2026 has not been reviewed by the Company's auditor.

Sten Forseke 3 760 146 20,02%

Information calendar

Cuarto AB

3 752 500

19,98%

2026-05-07

Interim report January - March, 2026

First Kraft AB

1 463 547

7,79%

2026-05-07

Annual General Meeting, 2026

Alcur select

1 202 280

6,40%

2026-08-20

Interim report January - June, 2026

Henrik Ekelund

771 428

4,11%

Origo Quest

687 500

3,66%

Santhe Dahl Invest AB

625 000

3,33%

Loer AB

625 000

3,33%

2026-11-04

Interim report January - September 2026

2027-02-24

Year-end report, 2026

2027-05-12

Interim report January - March, 2027

Submission of the first quarter report for 2026

Karin Forseke

609 243

3,24%

Stockholm, 7 May 2026

Wallstreet Aktiebolag

536 049

2,85%

Board of Directors - Greater Than AB

Other shareholders

4 749 793

25,29%

Björn Ulvgården, Chair of the Board

Total

18 782 486

100,00%

Karin Forseke, Board member

Sten Forseke, Board member

Personnel

Martin Vogl, Board member

Mathias Svensson, Board member

Sten Forseke, Founder, is stepping down from operational responsibilities and will continue to support the company in his role as a Board member.

The Company believes that the current organization, consisting of approximately 20 team members, has the right foundation to deliver on our strong market position.

The Company's certified adviser

FNCA is the Company's certified adviser.

Company structure

The group includes Greater Than AB (Corp. ID No. 556965-2885), Greater Than S.A. (Company no. 0860.741.970, Belgium), Greater Than Svenska AB (Corp. ID No. 556608-3258), Greater Than Pte Ltd. (Company no. 201925378N, Singapore), Greater Than K.K. (Company no. 0104-01-160488, Japan) and Greater Than Mobility Services Ltd. (company no. 13691556).

The Parent Company Greater Than AB started its operations in March 2014, and in conjunction with this the Group was founded.

Questions are answered by:

Liselott Johansson, CEO, until 7 May 2026 Tel: +46 706 542 058

E-mail: liselott.johansson@greaterthan.eu

Johanna Forseke, CEO, from 8 May 2026 Tel: +46 708 91 27 47

E-mail: johanna.forseke@greaterthan.eu https://www.greaterthan.eu

Report on comprehensive income - Group

Amounts in KSEK 2026-01-01

2025-01-01

2025-01-01

- 2026-03-31

- 2025-03-31

- 2025-12-31

Operating income

Net sales

1

148

1 274

5

737

Capitalised work for own account

1

766

1 776

7

214

Other operating income

125

450

870

Total income

3

039

3 501

13

821

Operating expenses

Merchandise and subcontractors

-480

0

-22

Other external expenses

-5

515

-8 560

-31

871

Personnel costs

-6

227

-5 876

-22

982

Depreciation of intangible fixed assets

-1

863

-1 010

-5

182

Depreciation of tangible fixed assets

-3

-9

-25

Depreciation right of use

-252

-119

-365

Total expenses

-14

340

-15 574

-60

447

Operating result

-11

301

-12 073

-46

626

Result from financial items

Interest income and similar items

2

295

109

221

Interest expenses and similar items

-210

-4 171

-10

744

Interest cost right of use

-23

-5

-9

Total

2

063

-4 066

-10

532

Result after financial items

-9

239

-16 140

-57

158

Result before tax

-9

239

-16 140

-57

158

Income tax expense

-1

0

-4

RESULT FOR THE PERIOD

-9

240

-16 140

-57

162

Items that may later be reclassified to the result for the period:

Translation differences

-766

2 583

4

171

OTHER COMPREHENSIVE INCOME

-766

2 583

4

171

COMPREHENSIVE INCOME FOR THE PERIOD

-10

005

-13 557

-52

990

The result and comprehensive income for the period are entirely attributable to the Parent Company's shareholders.

Amounts in KSEK 2026-01-01

2025-01-01

2025-01-01

- 2026-03-31

- 2025-03-31

- 2025-12-31

Earnings per share

Before and after dilution, SEK -0,53

Average number of shares

-0,99

-3,75

Before and after dilution, SEK 18 782 486

13 674 171

14 145 335

Report on financial position - Group

Amounts in KSEK

2026-03-31

2025-03-31

2025-12-31

ASSETS

Fixed assets Intangible fixed assets

Capitalised expenditure on development work

23 866

8 797

18 788

Ongoing development work

2 583

16 427

7 745

Total intangible fixed assets

26 449

25 224

26 533

Tangible fixed assets

Equipment, tools and fittings

0

84

68

Right of use (real estate, car leasing)

2 970

263

0

Total fixed assets

29 419

25 570

26 600

Current assets

Inventory, etc. Merchandise

0

503

480

Current receivables

Accounts receivable

23 752

26 587

22 770

Tax receivables

293

414

342

Other receivables

1 218

2 396

1 661

Prepaid expenses and accrued income

1 243

1 624

885

Total current receivables

26 506

31 021

25 659

Cash and bank balances

30 314

21 251

46 038

Total current assets

56 820

52 775

72 177

Total assets

86 239

78 345

98 777

Report on financial position - Group

Amounts in KSEK

2026-03-31

2025-03-31

2025-12-31

EQUITY AND LIABILITIES

Equity

Share capital

1

878

1 367

1

878

Other contributed capital

371

036

291 838

371

036

Reserve

1

445

800

2

194

Retained earnings

-304

528

-254 074

-295

288

Total equity

69

832

39 931

79

821

Long-term liabilities

Leasing debt (real estate, car leasing)

1

358

0

0

Other long-term liabilities

5

442

5 426

5

391

Total long-term liabilities

6

800

5 426

5

391

Short-term liabilities

Accounts payable

1

653

2 804

5

493

Leasing liabilities (real estate, car leasing)

1

409

272

0

Borrowing

172

1 218

172

Other current liabilities

963

19 946

2

766

Accrued expenses and prepaid income

5

410

8 749

5

134

Total short-term liabilities

9

608

32 988

13

566

Total equity and liabilities

86

239

78 345

98

777

Amounts in KSEK 2026-01-01

2025-01-01

2025-01-01

- 2026-03-31

- 2025-03-31

- 2025-12-31

Operating activities

Operating result -11 301

-12

073

-46

624

Interest paid and similar items -261

-1

629

-6

013

Interest received and similar items 1 604

109

221

Adjustments for items that are not included in cash flow, etc. (refers to deprecia- 2 020

902

5

378

Paid tax 50

139

211

Cash flow from operating activities before changes in working capital -7 887

-12

552

-46

827

Cash flow from changes in working capital

Increase (-)/Decrease (+) of inventory

480

0

22

Increase (-)/Decrease (+) of operating receivables

-897

414

5

704

Increase (+)/Decrease (-) of operating liabilities

-5 367

-1

785

280

Cash flow from operating activities

-13 670

-13

923

-40

821

Investment activities

Acquisition of intangible fixed assets

-1 766

-1

776

-7

260

Disposal of tangible fixed assets

190

450

450

Cash flow from investment activities

-1 576

-1

326

-6

810

Financing activities

Loans

0

0

10

000

Repaid lease liabilities

-477

-125

-438

New share issue

0

0

69

233

Issue costs

0

0

-3

350

Convertible

0

0

-17

185

Amortisation of loans

0

0

-1

217

Cash flow from financing activities

-477

-125

57

043

Cash flow for the period

-15 723

-15

374

9

412

Liquid assets at the beginning of the period

46 038

36

626

36

626

Liquid assets at the end of the period

30 314

21

251

46

038

Report on cash flow - Group

tion, recalculation of differences, etc.)

Report on changes in equity - Group

Amounts in KSEK Share capital

Other contributed

capital

Reserve Retained Total

earnings

Opening balance 2025-01-01

1 367

291 881

-1 693

-237 932

53 623

New share issue

511

81 222

81 733

Issue costs

-3 350

-3 350

Tax effect on new share issue

690

690

Value of conversion right for convertibel deben- 593 593

ture

Total transactions with shareholders

511

79 155

0

0

79 666

Other comprehensive income

Translation difference

3 887

3 887

Total other comprehensive income

0

0

3 887

0

3 887

Options

-194

-194

Result for the period

-57 162

-57 162

Closing balance 2025-12-31

1 878

371 036

2 194

-295 288

79 821

Opening balance 2025-01-01

1 878

371 036

2 194

-295 288

79 821

New share issue

0

Issue costs

0

Tax effect on new share issue

0

Value of conversion right for convertibel deben ture

-

0

Total transactions with shareholders

0

0

0

0

0

Other comprehensive income

Translation difference

-749

-749

Payments warrants programme

0

Total other comprehensive income

0

0

-749

0

-749

Options

-0

Result for the period

-9 240

-9 240

Closing balance 2025-03-31

1 878

371 036

1 445

-304 528

69 832

Income statement - Parent Company

Amounts in KSEK 2026-01-01

2025-01-01

2025-01-01

- 2026-03-31

- 2025-03-31

- 2025-12-31

Operating income

Net sales

804

1 114

5

502

Capitalised work for own account

1

766

1 776

7

214

Other operating income

125

450

853

Total income

2

695

3 340

13

568

Operating expenses

Merchandise and subcontractors

-97

0

0

Other external expenses

-5

229

-8 085

-28

198

Personnel costs

-5

668

-5 344

-21

079

Depreciation of intangible fixed assets

-1

780

-923

-4

842

Depreciation of tangible fixed assets

-3

-9

-25

Total expenses

-12

776

-14 361

-54

144

Operating result

-10

081

-11 021

-40

576

Result from financial items

Interest income and similar items

2

094

127

768

Interest expenses and similar items

-206

-3 309

-9

778

Total

1

888

-3 182

-9

010

Result after financial items

-8

193

-14 203

-49

586

Result before tax

-8

193

-14 203

-49

586

RESULT FOR THE PERIOD

-8

193

-14 203

-49

586

Report on comprehensive income - Parent Company

Amounts in KSEK

2026-01-01

- 2026-03-31

2025-01-01

- 2025-03-31

2025-01-01

- 2025-12-31

Result for the year

-8 193

-14 203

-49 586

Other comprehensive income

0

0

0

COMPREHENSIVE INCOME FOR THE PERIOD

-8 193

-14 203

-49 586

Balance sheet - Parent Company

Amounts in KSEK

2026-03-31

2025-03-31

2025-12-31

ASSETS

Fixed assets Intangible fixed assets

Capitalised expenditure on development work

22

584

7 237

17

437

Ongoing development work

2

583

16 427

7

745

Total intangible fixed assets

25

168

23 664

25

182

Tangible fixed assets

Equipment, tools and fittings

0

84

68

Fixed assets Financial fixed assets

Shares in group companies

87

504

87 504

87

504

Total financial fixed assets

87

504

87 504

87

504

Current assets

Inventory, etc. Merchandise

0

97

97

Current receivables

Accounts receivable

23

683

25 314

22

693

Receivables with group companies

50

343

46 085

48

847

Tax receivables

292

422

350

Other receivables

1

205

2 102

1

416

Prepaid expenses and accrued income

1

072

1 106

312

Total current receivables

76

594

75 028

73

618

Cash and Bank balances

27

915

19 202

43

945

Total current receivables

104

509

94 327

117

660

Total assets

217

182

205 579

230

414

Balance sheet - Parent Company

Amounts in KSEK

2026-03-31

2025-03-31

2025-12-31

EQUITY AND LIABILITIES

Equity

Restricted equity

Share capital

1

878

1 367

1

878

Development expenditure fund

25

774

23 819

25

416

Unrestricted equity

Share premium fund

329

376

250 179

329

376

Retained earnings

-145

147

-93 412

-95

202

Result for the period

-8

193

-14 203

-49

586

Total unrestricted equity

176

037

142 564

184

588

Total equity

203

689

167 751

211

882

Long-term liabilities

Other long-term liabilities

5

442

5 425

5

391

Total long-term liabilities

5

442

5 425

5

391

Short-term liabilities

Accounts payable

1

596

2 739

5

329

Borrowing

172

1 218

172

Other short-term liabilities

954

19 933

2

600

Accrued expenses and prepaid income

5

329

8 513

5

041

Total short-term liabilities

8

050

32 403

13

142

Total equity and liabilities

217

182

205 579

230

414

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Greater Than AB (publ) - Interim report January - March 2026

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