Huddlestock Fintech — Earnings Release 2026

May 28, 2026

Huddlestock Q1 2026: Advancing commercial progress in Europe with white-label solution attracting new customers

Huddlestock Q1 2026: Advancing commercial progress in Europe with white-label solution attracting new customers

Huddlestock Fintech AS ("Huddlestock" or the "Company") continued to execute

on its European growth strategy in Q1 2026, with increased commercial traction

in its Investment-as-a-Service (IaaS) division and operational progress in

Consulting (Visigon). The quarter reflects continued momentum toward scalable

growth, following proactive commercialisation of the IaaS platform in Germany.

"We are strengthening our IaaS offering, building a solid partner ecosystem,

and seeing increasing market interest in our solutions. We also see organic

growth in retail investors in Germany, which positions us well to scale and

capture new opportunities through continued commercial execution," said Leif

Arnold Thomas, CEO of Huddlestock.

The Company reports total operating income of NOK 11.2 million, in line with

Q4 2025. EBITDA improved quarter-over-quarter, from NOK -9.1 million to NOK

-6.0 million, driven by continued cost reductions. Personnel expenses of

approximately NOK 10 million in the quarter reflect a more stable cost base

going forward. Cost-reduction measures began to take effect in Q1, with

additional improvements expected in Q2 2026. The ambition to achieve cash flow

positive operations in the European IaaS platform (Huddlestock GmbH) during

2026 remains unchanged.

The Giga Broker solution is on track for release in June. The team is

currently focused on marketing preparations and expanded user testing, while

also advancing the automation of KYC processes and CRM workflows, and

finalizing the savings plans.

ACCELERATING EXPANSION IN GERMANY

Huddlestock continued to expand in Continental Europe, with Germany as a key

strategic market. The Company focuses on sales and launched successfully its

white-label IaaS solution in April, a fully compliant, scalable solution,

enabling customers to launch investment offerings efficiently.

During the quarter, Modern Finance Nation (MFN) was signed as a new customer,

representing a significant commercial opportunity through an innovative

savings and investment model. The Company also strengthened its IaaS offering

through a strategic cooperation with XENIX, integrating advanced ETF data

services and enhancing its German distribution footprint.

Subsequent to the quarter, Huddlestock signed a Letter of Intent (LOI) with a

German IaaS customer for a B2B embedded finance solution, enabling access to

risk management and price protection tools directly within the customer

platform.

The white-label Solution launched in April has been well received in the

Market, and May 27 Huddlestock announced, that its German subsidiary, had

signed a Letter of Intent ("LOI") with a prospective new German customer

regarding the use of Huddlestock's White-Label IaaS solution.

Huddlestock will continue to prioritize commercial execution in Europe,

scaling its IaaS platform through new customer wins, partnerships, and product

development.

CONSULTING (VISIGON)

Visigon delivered a solid first quarter in line with its business plan toward

2028. EBITDA margin improved year-on-year from 11% to 15%, reflecting

increased operational efficiency and a shift toward more scalable delivery.

During the period, Visigon signed a new two-year agreement with a longstanding

financial services client, marking continued progress from individual

consulting engagements toward broader service-based offerings.

The business remains well positioned to support Huddlestock's growth

ambitions, targeting NOK 100 million in revenue and a 20% EBITDA margin by

PRESENTATION AND Q&A

CEO Leif Arnold Thomas and CFO Sabine Merky will host a webcast presentation

of the results in English at 10:00 CEST, followed by a Q&A session. To

participate, please register your interest with:

https://events.teams.microsoft.com/event/ad6fa4f1-543d-4087-a7d0-7f057ccf98d6@c1a5a59d-592c-49a2-ada8-beedc552d1f5

Contacts

Leif Arnold Thomas

Chief Executive Officer

Huddlestock Fintech AS

leif.thomas@huddlestock.com

+47 982 15 520

About Huddlestock Fintech AS

Huddlestock is a European Investment-as-a-Service provider enabling financial

institutions and digital platforms to launch and scale investment services

efficiently and in full regulatory compliance. Through its BaFin-regulated

entity, Huddlestock GmbH, the company provides access to a comprehensive

liability umbrella and European passporting framework, allowing partners to

offer regulated investment services without requiring their own financial

license. Combining regulatory infrastructure with a modular, partner-based

ecosystem, Huddlestock enables clients to build tailored investment solutions

while significantly reducing time-to-market and operational complexity.

Huddlestock Group also includes Visigon, a Nordic based consulting company

with deep expertise in capital markets and treasury technology.

Find out more at: www.huddlestock.com

This information has been submitted pursuant to the Securities Trading Act §

5-12 and MAR. The information was submitted for publication, through the

agency of the contact persons set out above, at 2026-05-28 07:00 CEST.