Swedencare AB (publ) INTERIM REPORT July 1st – September 30th 2026

Summary of the period
Numbers in parentheses refer to outcome of the corresponding period of the previous year.

Third quarter: July 1st - September 30th, 2026

• Net revenue amounted to 732.2 MSEK (712.9 MSEK), corresponding to an increase of 3% (11%)
• Organic, currency-adjusted growth amounted to 2% (15%)
• Operational EBITDA amounted to 150.1 MSEK (154.9 MSEK), corresponding to a decrease of ‑3%, and an EBITDA-margin of 20.5% (21.7%). The reported EBITDA amounted to 152.2 MSEK and includes a non-operational adjustment of 2.1 MSEK related to the step acquisition of Viyo
• Operational EBIT amounted to 122.3 MSEK (132.5 MSEK), corresponding to a decrease of ‑8%, and an EBIT-margin of 16.7% (18.6%)
• Profit after tax amounted to 28.7 MSEK (22.2 MSEK)
• Earnings per share calculated on 159,840,958 shares (159,840,958 shares) amounted to 0.18 SEK (0.14 SEK)
• Cash flow from operating activities amounted to 96.3 MSEK (152.6 MSEK)
• As of September 30th, 2026, cash amounted to 91.2 MSEK (145.1 MSEK)
• Net debt/R12 operational EBITDA (proforma and adjusted for IFRS16) amounted to 3.0 (2.7)

First nine months: January 1st - September 30th, 2026

• Net revenue amounted to 2,052.5 MSEK (2,000.8 MSEK), corresponding to an increase of 3% (7%)
• Organic, currency-adjusted growth amounted to 6% (9%)
• Operational EBITDA amounted to 407.2 MSEK (402.3 MSEK), corresponding to an increase of 1%, and an EBITDA-margin of 19.8% (20.1%). The reported EBITDA amounted to 409.2 MSEK and includes a non-operational adjustment of 2.1 MSEK related to the step acquisition of Viyo
• Operational EBIT amounted to 327.8 MSEK (340.9 MSEK), corresponding to a decrease of ‑4%, and an EBIT-margin of 16.0% (17.0%)
• Profit after tax amounted to 70.1 MSEK (39.1 MSEK)
• Earnings per share calculated on 159,840,958 shares (159,518,501 shares) amounted to 0.44 SEK (0.24 SEK)
• Cash flow from operating activities amounted to 239.8 MSEK (282.1 MSEK)

Significant events during the third quarter
During the quarter Swedencare announced a planned CEO transition which will occur during 2027.

During the quarter, Swedencare subsidiary Summit Vet expanded its product offering to include soft chews, following a successful collaboration with its sister company Vetio.

Significant events after the third quarter
There are no significant events after the end of the third quarter to comment on.

Words from the CEO
The third quarter was characterized by good development in Europe and within the Production segment, but also by continued challenges in North America. Net revenue amounted to 732 MSEK, an increase of 3% compared with the corresponding quarter the previous year and of 9% compared with Q2.

The operational EBITDA margin amounted to 20.5% and operational EBITDA to 150 MSEK. This was lower than in the corresponding quarter the previous year, but the highest quarter of the year as expected. Cash flow from operating activities remained strong and amounted to 96 MSEK, which enabled a further debt reduction of 70 MSEK during the quarter. Net debt amounted to 3,0, an increase compared to previous year, due to Summit Vet's earn-out being included from Q2, however a decrease compared to previous quarter.

Organic growth amounted to 2%, which was a disappointment and lower than expected. My expectation was to be in line with Q2, when we delivered 7%. The deviation is explained mainly by three factors: an SQF inspection in September that, pleasingly, resulted in the approval of a further facility but affected production more than expected; a weaker development than expected for our European veterinary brands in the end of the quarter; and supply chain challenges. The latter led both to delayed deliveries and to a negative effect on online sales for some of our brands. For the full year we now have organic growth of 6%, and our ambition is to return to double-digit organic growth in Q4 while double digit growth for the full year is no longer a probable target.

North America remains a challenge but our team at Naturvet has carried out extensive work, and we expect a gradual improvement for the brand in the coming years. The US veterinary channel remains weak, but we expect to see an impact from our larger partnerships ahead of the launches in early 2027.

Europe and the Production segments continued, as in the previous quarters, to deliver strong results, both segments with organic growth of 11%. Within the Production segment, it remains challenging for our largest North American unit within the manufacturing of dermatology products and supplements. On the next page and in today’s webinar, John Kane describes the measures we are taking to turn the development around, including by broadening the offering to categories where we see both internal and external needs. At the same time, demand is very high within production in the EU and the UK as well as within Pharma, both from existing customers and through new customer enquiries. We have won new contracts, and our Pharma unit has been approved following a PAI (Pre-Approval Inspection) by the US FDA. The inspection concerned an approval which was required to begin manufacturing a recently approved pharmaceutical product for a customer. Production is planned to start during 2027.

ProDen PlaqueOff® continues to develop strongly, with growth above 30%, for yet another quarter. Our own
Amazon sales in both the US and Europe continue to develop well, while the strong export trend persists.

In closing, I would like to comment that, after 12 years, I have informed the Board that I will leave my role no later than during Q3 2027. Leading Swedencare from a single-product company with revenue of just under 20 million SEK in 2014 to a global animal health group with revenue of 2.7 billion SEK in 2025 has been an extraordinary entrepreneurial journey. During this period, we have consistently had strong growth, high profitability and solid cash generation.

I will do my utmost to create the best possible conditions for a smooth transition. I am convinced that my successor will continue to develop Swedencare and lead the Group to new heights in the years ahead.

Håkan Lagerberg
Malmö, October 21st, 2026

The complete interim report is attached to this press release and is available at www.swedencare.com.

Swedencare invites shareholders and analysts to a presentation of the interim report where CEO Håkan Lagerberg and CFO Jenny Graflind will comment on the report. John Kane, Production Director, will also take part in the presentation. The presentation will be held at 10:30-11:30am CEST and can be followed via live webinar.

Please use this link to join the webinar: https://us06web.zoom.us/j/81115512550