Prevas

Interim / Quarterly Report • Jul 17, 2025

Interim Report January – June 2025

Challenging market situation, lower earnings and continued " positive trend in Finland

GROWTH IN TURNOVER SECOND QUARTER

5.1%

OPERATING MARGIN, EBITA SECOND QUARTER

SEK0.73

PROFIT PER SHARE AFTER DILUTION SECOND QUARTER

The period in brief 3.3%

April – June 2025

• Net turnover amounted to SEK 408.8 million (395.6), an increase of SEK 13.2 million and 3.3 percent.
• The operating profit EBITA amounted to SEK 20.7 million (36.2), giving an EBITA margin of 5.1 percent (9.2).
• The operating profit was negatively affected by a calendar effect of SEK 5 million, as the quarter was one working day shorter compared to previous year, as well as restructuring costs amounting to approximately SEK 6 million for optimizing the workforce in regions and areas with lower demand.
• The operating profit EBITA adjusted for restructuring costs and calendar effect amounted to SEK 31.7 million and an EBITA margin of 7.7 percent.
• EBIT amounted to SEK 16.6 million (31.8), giving an EBIT margin of 4.1 percent (8.0). EBIT was negatively affected by acquisition-related items by SEK 4.0 million (4.3).
• Profit after tax amounted to SEK 9.7 million (26.0).
• Profit per share before dilution was SEK 0.73 (2.02) and after dilution was SEK 0.73 (2.01).
• The cash flow from operating activities amounted to SEK 49.6 million (63.1).

January – June 2025

• Net turnover amounted to SEK 839.5 million (802.7), an increase of SEK 36.8 million and 4.6 percent.
• The operating profit EBITA amounted to SEK 56.3 million (89.8), resulting in an EBITA margin of 6.7 percent (11.2).
• The operating profit was negatively affected by a calendar effect of SEK 10 million, as the period was two working day shorter compared to previous year, as well as restructuring costs amounting to approximately SEK 7 million for optimizing the workforce in regions and areas with lower demand.
• The operating profit EBITA adjusted for restructuring costs and calendar effect amounted to SEK 72.3 million and an adjusted EBITA margin of 8.5 percent.
• EBIT amounted to SEK 48.6 million (76.0), giving an EBIT margin of 5.8 percent (9.5). EBIT was negatively affected by acquisition-related items by SEK 7.5 million (13.5).
• Profit after tax amounted to SEK 32.8 million (59.3).
• Profit per share before dilution was SEK 2.48 (4.58) and after dilution was SEK 2.48 (4.56).
• The cash flow from operating activities amounted to SEK 81.8 million (90.2).

Significant events during and after the quarter

During the period, several strategically important transactions and initiatives have been carried out that strengthen Prevas' position in relation to both technological development and digital maintenance. During and after the period, the following has been communicated:

• Prevas is strengthening its role as a technical specialist in the fields of defense and cybersecurity through membership of SOFF – an important platform for collaboration regarding innovation, robustness and societal security.
• Prevas has on July 1 completed the acquisition of 80 percent of the shares in OIM Sweden AB following regulatory approval. The acquisition is strengthening the company's presence in the Öresund region and adding cutting-edge expertise in advanced product development, especially within Medtech and Cleantech. The acquisition of 80 percent of OIM Sweden AB is expected to have a marginally positive impact on Prevas' profit per share during the current financial year. Please refer to the website www.prevas.se for more information.
• Prevas and Hexagon have entered into a strategic partnership to accelerate digitalization within Asset Management in the Nordic region. The collaboration includes deliveries of HxGN EAM and HxGN APM in Sweden, Norway, Denmark and Finland, with the aim of creating increased customer value through data-driven asset management.
• Green Cargo has entered into an agreement with Prevas regarding the introduction of HxGN EAM in its operations. The solution is contributing to increased efficiency and reliability in Sweden's leading rail logistics company.
• Nscale, a fast-growing player in AI-adapted data centers, has selected Prevas for the implementation of HxGN EAM. The project provides Nscale with greater control over its assets at the facility in Glomfjord, Norway, and is strengthening the company's operational capacity.
• Prevas' 2025 Annual General Meeting was held on May 14, 2025. The Annual General Meeting resolved in accordance with all proposals presented by the Board of Directors and the Nomination Committee. For more information, see www.prevas.se/arsstamman.

Prevas welcomes OIM Sweden. From the left: Simon Almqvist, Helena Gautam, Jesper Hallberg, Roland Ferngård, Sofie Magnoy, Riki Virc and Nina Carlgren Lyckmar.

Challenging market situation, lower earnings and continued positive trend in Finland

Prevas increased its turnover during the second quarter by just over 3 percent to SEK 408.8 million and delivered an EBITA of SEK 20.7 million, corresponding to an EBITA margin of 5.1 percent. Cash flow was strong, amounting to SEK 49.6 million. Profit/loss was affected by a lower utilization rate, restructuring costs of approximately SEK 6 million and a negative calendar effect corresponding to approximately SEK 5 million. Adjusted for calendar effect and restructuring costs EBITA amounted to SEK 31.7 million (7.7%). Profit per share after dilution was SEK 0.73.

Targeted measures to strengthen the margin

During the quarter, we have seen a market that has remained cautious, while demand is increasing in the fields of defense, cybersecurity and energy. We are witnessing both growth and good profitability in these sectors, while certain regions, sectors and areas of expertise, such as software, continue to face challenges. The market is also affected by cutbacks, for example within the automotive industry, as well as by Northvolt's bankruptcy. The direct impact on Prevas is marginal, although we are seeing an indirect impact through increased access to engineering capacity in the market.

We have intensified our efforts to strengthen our profitability during the quarter. In addition to our continued focus on sales and cost control, we have optimized the workforce in

regions and areas experiencing lower demand. At the same time, we have changed the leadership in selected regions where we see good opportunities to develop the business and increase profitability. Recruitment activities are also continuing in areas of expertise where demand is strong.

The measures we have taken are already having a positive effect – both in terms of utilization and operating costs – and are creating a solid foundation for long-term growth and improved margins. During the quarter, profit were affected by a restructuring cost of SEK 6 million.

Continued positive trend in Finland

The positive earnings trend in Finland continued during the second quarter – making it the third consecutive quarter of increased earnings. This development is the result of a clear sales focus and operational improvements. During the quarter, we carried out a restructuring in which two regions were merged into one, giving rise to increased efficiency, clearer focus and improved profitability. Order intake continued to develop positively, and we are heading into the autumn with a strong order book. A good example of this is a new deal worth approimately SEK 14 million from Syklo, where Prevas will play a key role in building Finland's largest sorting plant for plastics – fully in line with our mission of doing good with advanced technology.

Our team in Finland is made up of experts in commitment projects, and we are now witnessing a gradual increase in the share of project deliveries – a factor that is expected to contribute positively to profit in the third and fourth quarters. At the same time, our focus on growth within ongoing consulting services is yielding results, which is strengthening utilization in both projects and services in Finland. In order to meet the order intake and high level of demand, we have now initiated recruitment in several areas of expertise. We are looking forward to continuing the positive earnings trend during the autumn, and to gradually seeing normalized profit levels for our Finnish team. At the same time, we are both prepared and have the capacity to act if the market situation should change.

Strong growth in security and defense

Prevas is one of the Nordic region's bigger players in the fields of defense and cybersecurity, with a turnover of close to quarter of a billion Swedish kronor in the area. We are contributing with cutting-edge technology within product development and services that enable the rapid build-up of manufacturing capacity. Our long experience of working in regulated and safety-critical environments, combined with our technical expertise, puts us in a strong position to achieve continued growth. Our aim is to be an active force for increased security in an increasingly uncertain world. During the quarter, we have pursued both regional and Group-wide initiatives to strengthen Prevas' position, which has led to increased growth and several new customers in the fields of security and defense.

As part of this work, Prevas has also become a member of the Swedish Security & Defense Industry Association (SOFF). The Association's members include a number of our existing and potential customers and partners, such as Saab, Ericsson, Mildef, Invisio, Aimpoint, BAE Systems and Nammo.

We have also completed the acquisition of OIM Sweden AB, which is strengthening our presence and expertise within medical technology in southern Sweden. Together with our existing teams in Malmö and Lund, we now form one of the region's strongest development centers.

In summary, I am of course not satisfied with our quarterly result. We are taking clear actions and work with determination to achieve our financial targets, and I am confident that we will reach them even if it may take time. Through our focus on delivering customer value, innovation, and profitability, we are creating the conditions for long-term and sustainable growth. At the same time, we are fully prepared and have room for maneuver should the market situation deteriorate further.

With the trust of our customers, our dedicated team and our unique areas of expertise and offerings, we are looking forward to the rest of the year with a positive sense of anticipation.

Hello Possibility Västerås, July 17, 2025

Magnus Welén, CEO Prevas AB

" We are delighted to welcome OIM Sweden. Together with our existing teams in Malmö and Lund, we now form one of the region's strongest development centers.

Prevas in brief

Prevas is an innovative development house with a focus on product and production development, where ingenuity is at the center. We use great technical expertise and business understanding to help our customers within widely differing industries to gain greater benefits from the technological advances of our time. Good for people, the planet and profits.

We offer a comprehensive range of services and solutions tailored to meet the ever-changing needs of modern industries. With a focus on innovation, technology and expertise, we help companies optimize and streamline their operations, develop their products, improve productivity and achieve sustainability.

	EBITA margin	Growth in turnover	Net liabilities/EBITDA	Dividend
Financial goals	The EBITA margin shall amount to at least 12% over time.	The growth in turnover shall occur qualitatively and over time reach at least 10% per year, including acquisitions.	Net debt/EBITDA R12 shall not exceed 2 over time.	The long-term dividend level shall amount to 40-60% of Prevas' profit after tax.
me Outco	5.1 % The margin for the quarter is lower compared to the corre sponding quarter last year.	3.3 % The growth in turnover for the quarter comes from acquisitions made in 2024.	1.04 Net liabilities/EBITDA R12 for the quarter.	66 % The AGM resolved on a dividend of SEK 4.75 per share for 2024, resulting in a dividend level of 66% of Prevas's profit after tax.
me Historical outco	% 20 15 10 2023 5 2024 2025 0 Q1 Q2 Q3 Q4	% 25 20 15 10 2023 5 2024 2025 0 Q1 Q2 Q3 Q4	2 1 0 2023 2024 2025 -1 Q1 Q2 Q3 Q4	% 60 50 40 30 20 10 0 2020 2021 2022 2023 2024

Hello Possibility

We solve problems. Many people would say that we do so with different technical solutions - and that is correct. But innovation is perhaps even more important. That's what Prevas is really about. Together seeing things that others do not. About opportunities.

Vision & Purpose

Ingenuity will save the world.

Mission

We co-create technological advancement for the betterment of all: people, planet and profit.

Values

At Prevas we summarize our values with the acronym BOAT - Business Driven, Open Minded, Active and Team Player.

Employee Promise Home of Ingenuity.

6 Interim Report January – June 2025

Industries and customers

Division by industry, Q1-2 2025

Engineering 23% Defense 15% Energy 12% Life Science13% Other 10% Automotives & Transportation 6% Products & Devices 9% Steel & Minerals 7% Telecom 5%

Engineering

The engineering industry is changing through investments in skills and investments in sustainability, digitalization and automation, among other things. We are well positioned with our industry experience and creative approach to technological innovations.

Life science Our focus includes

biotechnology, medical technology and pharmaceuticals. We know the rules and regulatory requirements and how to effectively develop and bring products to market. In addition, we also provide solutions for manufacturing products. devices Product development integrates advanced electronics, design, software and sustainability aspects. Prevas offers the technical expertise and business understanding to be able to launch customers' products quickly on the market.

Products &

Defense The Nordic defense industry supplies the

global market with world leading products, solutions and services. Prevas' experience and expertise match the defense industry's requirements for advanced technology, reliability and environmental durability.

Energy

The energy industry has a crucial role to play in making the Nordic region climate neutral. As a strategic expertise partner for the energy and electric power sector, Prevas is at center stage when the sustainable energy systems of the future are developed.

Automotive & transportation

The automotive and transportation industries are affected by several trends, including electrification, autonomy, digitalization, and resource efficiency. Prevas has long experience in delivering automation and is a reliable development partner.

Steel & Minerals

For Prevas, it is important to continue to be involved in developing the fossil-free steelmaking of the future. Our offerings include, among other things, solutions for business management, energy efficiency, automation and environmental monitoring.

Telecoms

Prevas has extensive experience of consulting services in mobile networks and contributes important expertise in radio-related functions. Prevas also supplies central solutions for product traceability and tools for managing equipment to telecom companies.

Sustainability

Prevas and sustainability in brief

The basis of our work with sustainability is being an attractive employer and responsible business partner. This is a prerequisite for us to be able to contribute to sustainable solutions, services and products and to be relevant to our customers. Our ambition is to attract the best talents to ensure that we are as competitive tomorrow as we are today. We strongly believe that much good can be done with technology, thanks to human ingenuity, creativity and innovation.

Focus

• Our customers should feel that we at Prevas create increased value.
• We will actively develop as a team and as individuals.
• We will actively contribute to a climate-neutral world.
• We will increase revenues and profits.

Prevas' sustainability work can be linked to several of the UN's Sustainable Development Goals.

You can read more about our sustainability work in the 2024 Annual and Sustainability Report on pages 19-38.

Ingenuity will save the world

Sustainability is more than a goal – it's part of our drive to do good. By combining cuttingedge technical expertise with genuine curiosity and creativity, we are creating solutions that are contributing to a more sustainable world.

We collaborate with companies across multiple sectors to develop smart systems and products that improve both people's lives and our shared future. Our projects range from energy efficiency and resource optimization to preventive maintenance and medical technology innovations – always with a clear focus on creating real benefits for people, the planet and profitability.

Our efforts have led to solutions that automate the charging of electric ferries, streamline transportation and improve patients' health through innovative medical devices. At the same time, we are developing software that reduces energy consumption and emissions in industrial processes – technology that is already being used by leading players in the Nordic region and Europe.

We are looking to the future with confidence. For us, it goes without saying that sustainable development starts with bold ideas and close cooperation. That's why we are continuing to make a difference – one project, one solution, one idea at a time.

Hello Possibility.

Financial information Group

Turnover

April – June

Net turnover amounted to SEK 408.8 million (395.6) an increase of SEK 13.2 million and 3.3 percent. The increase in sales attributable to acquisitions made in 2024 amounts to 11.9 percent.

The number of working days amounted to 59 (60). Net turnover per employee amounted to SEK 423 thousand (463).

January – June

Net sales amounted to SEK 839.5 million (802.7), an increase of SEK 36.8 million and 4.6 percent. The increase in sales attributable to acquisitions made in 2024 amounts to 11.9 percent.

The number of working days amounted to 121 (123). Net turnover per employee amounted to SEK 857 thousand (936).

Profit/loss

April – June

Operating profit/loss before depreciation/amortization and write downs EBITDA amounted to SEK 32.2 million (46.0), which gives an EBITDA margin of 7.9 percent (11.6).

The operating profit EBITA amounted to SEK 20.7 million (36.2), giving an EBITA margin of 5.1 percent (9.2). Turnover and EBITA were impacted by a lower utilization rate, a negative calendar effect equivalent to approximately SEK 5 million and restructuring costs of SEK 6 million for optimizing the workforce in regions and areas with lower demand. EBITA amounted to SEK 31.7 million and EBITA margin 7.7 percent, taking into account restructuring costs and the fact that the quarter was one day shorter compared to the same quarter last year.

The operating profit EBIT amounted to SEK 16.6 million (31.8), giving an EBIT margin of 4.1 percent (8.0). EBIT was negatively affected by acquisition-related items by SEK 4.0 million (4.3). EBIT adjusted for acquisition-related costs amounted to SEK 20.6 million (36.1), resulting in an adjusted EBIT margin of 5.0 percent (9.1). Acquisition-related costs are reported in the income statement under the headings Other external costs SEK 0.6 million (2.1), Personnel expenses SEK 0.4 million (0.4) and Amortization of intangible fixed assets SEK 3.0 million (1.8).

Operating expenses have decreased, which was mainly explained by lower acquisition-related costs compared with the corresponding quarter last year. The increase in personnel costs mainly related to the operation in Finland, which was acquired on July 1, 2024, as well as restructuring costs of approximately SEK 6 million for optimizing of the workforce in regions and areas with lower demand.

Compared to the corresponding quarter last year, net financial items have been impacted by increased interest expenses of SEK 2 million attributable to loans taken out in connection with the acquisition of Enmac and SEK -1 million in respect of items linked to right-of-use assets, reduced interest income of SEK 0.5 million and negative currency effects of SEK 1.6 million. In the corresponding quarter in 2024, Net financial items were also positively impacted by the revaluation of additional considerations by SEK 1.5 million. During the same quarter this year the amount was SEK 0,2 million.

The tax expense amounted to SEK 2.3 million (7.6), corresponding to a tax rate of 19.3 percent (22.5). The lower effective tax rate compared with the corresponding quarter last year is partly explained by lower non-deductible transaction costs, which reduced the tax expense by SEK 0.3

million. In addition, a deferred tax asset of SEK 0.7 million was recognized during the quarter based on the assessment that a loss carry-forward will probably be able to be used against future taxable profits.

Profits after tax amounted to SEK 9.7 million (26.0).

The quarter was one working day shorter compared to the corresponding quarter last year, which had a negative impact on operating results EBITDA, EBITA and EBIT of approximately SEK 5 million.

January – June

Operating profit/loss before depreciation/amortization and write downs EBITDA amounted to SEK 79.4 million (108.4), which gives an EBITDA margin of 9.5 percent (13.5).

The operating profit EBITA amounted to SEK 56.3 million (89.8), giving an EBITA margin of 6.7 percent (11.2). Turnover and EBITA were impacted by a lower utilization rate, a negative calendar effect equivalent to approximately SEK 10 million and restructuring costs of SEK 7 million for optimizing the workforce in regions and areas with lower demand. EBITA amounted to SEK 72.3 million and EBITA margin 8.5 percent, taking into account restructuring costs and the fact that the quarter was two day shorter compared to the same quarter last year.

The operating profit EBIT amounted to SEK 48.6 million (76.0), giving an EBIT margin of 5.8 percent (9.5). EBIT was negatively affected by acquisition-related items by SEK 7.5 million (13.5). EBIT adjusted for acquisition-related costs amounted to SEK 56.1 million (89.5), resulting in an adjusted EBIT margin of 6.7 percent (11.2). Acquisition-related costs are reported in the income statement under the headings Other external costs SEK 0.7 million (9.1), Personnel expenses SEK 0.8 million (0.8) and Amortization of intangible fixed assets SEK 6.0 million (3.7).

Operating expenses have decreased, which was mainly explained by lower acquisition-related costs compared with the corresponding period last year. The increase in personnel costs mainly related to the operation in Finland, which was acquired on July 1, 2024, as well as restructuring costs of approximately SEK 7 million for optimizing of the workforce in regions and areas with lower demand.

Compared to the corresponding period last year, net financial items have been impacted by increased interest expenses of SEK 4 million attributable to loans taken out in connection with the acquisition of Enmac and SEK -2.2 million in respect of items linked to right-of-use assets, reduced interest income of SEK 1.2 million and currency effects of SEK -0.2 million.

The tax expense amounted to SEK 8.9 million (18.7), corresponding to a tax rate of 21.3 percent (24.0). The lower effective tax rate compared with the corresponding period last year is partly explained by lower non-deductible transaction costs, which reduced the tax expense by SEK 1.8 million. In addition, a deferred tax asset of SEK 0.7 million was recognized during the period based on the assessment that a loss carry-forward will probably be able to be used against future taxable profits.

Profits after tax amounted to 32.8 MSEK (59.3).

The period was two working days shorter compared to the corresponding period last year, which had a negative impact on operating results EBITDA, EBITA and EBIT of approximately SEK 10 million.

Cash flow, cash and cash equivalents and financing

April – June

Cash flow from operating activities for the quarter amounted to SEK 49.6 million (63.1). The decrease of SEK 13.5 million compared to the corresponding quarter last year is mainly

49.6MSEK

CASH FLOW FROM OPERATING ACTIVITIES SECOND QUARTER

Prevas' customer satisfaction during the quarter was 8.8 (scale from 1 to 10).

The period in brief CEO's comments Prevas in brief Sustainability Financial information

explained by lower profits. Interest paid increased by SEK 3.3 million compared to the corresponding quarter last year.

Changes in working capital impacted cash flow positively by SEK 36.1 million (29.2). Changes in inventories had a marginal impact this quarter, but had a positive impact of approximately SEK 7.8 million in the corresponding quarter. Cash flow from operating receivables amounted to SEK 3.9 million (21.6). The most significant change compared to the corresponding quarter last year was attributable to the increase in accounts receivables of SEK 8 million. Operating liabilities made a positive contribution to cash flow of SEK 32.4 million (-0.2), mainly due to increased deferred revenue of SEK 24 million.

Financing activities have been affected by repayments of SEK -12.5 million on loans taken out in connection with the acquisition of Enmac in 2024.

Available liquid funds at the end of the period amounted to SEK 17.2 million (119.7). The overdraft facility of SEK 100 million (0) was not utilized.

January – June

Cash flow from operating activities for the period amounted to SEK 81.8 million (90.2). The decrease of SEK 8.4 million compared with the corresponding period last year is mainly explained by lower profits. Interest paid increased by SEK 5.9 million compared to the corresponding period last year.

Changes in working capital impacted cash flow positively by SEK 32.5 million (21.3). Changes in inventories had a marginal impact this period, but had a positive impact of approximately SEK 9.9 million in the corresponding period. Operating liabilities made a positive contribution to cash flow of SEK 28.7 million, mainly due to increased deferred revenue of SEK 15 million.

Financing activities have been affected by repayments of SEK -24.9 million on loans taken out in connection with the acquisition of Enmac in 2024.

Available liquid funds at the end of the period amounted to SEK 17.2 million (119.7). The overdraft facility of SEK 100 million (0) was not utilized.

Financial position

Equity for the Group at the end of the quarter amounted to SEK 664.5 million (643.4), resulting in an equity/assets ratio of 48.4 percent (58.2). Equity attributable to the owners of the parent company amounted to SEK 47.33 (47.78) per share before dilution and SEK 47.33 (47.57) per share after dilution.

Right-of-use assets increased, amounting to SEK 137.9 million (78.0), which was mainly explained by the acquisition of Enmac and the revaluation of terms of use for premises at the end of the previous year.

Prevas' balance sheet remains strong and net debt/EBITDA was assessed as being well below our target of 2 in the coming quarter.

Employees

The average number of employees during the second quarter amounted to 966 (854), of which 700 (736) were in Sweden, 75 (74) in Denmark, 146 (n/a) in Finland, 21 (18) in other segments and 24 (26) were centrally employed. The number of employees at the end of the quarter was 1,033 (899). The proportion of female employees was 19.4 percent (19.8).

Investments

April – June

During the quarter, the Group's investments in fixed assets amounted to SEK 1.6 million (2.4), of which SEK 0.7 million (2.4) covered machinery, equipment and improvements to

assets.

leased property, and SEK 0.9 million (0) covered intangible January – June During the period, the Group's investments in fixed assets

amounted to SEK 3.5 million (4.6), of which SEK 2.0 million (4.6) covered machinery, equipment and improvements to leased property, and SEK 1.5 million (0) covered intangible assets.

Significant events during and after the period

Prevas has completed the acquisition of 80 percent of the shares in OIM Sweden AB following regulatory approval on July 1 2025. The acquisition is strengthening the company's presence in the Öresund region and adding cutting-edge expertise in advanced product development, especially within Medtech and Cleantech. The acquisition of 80 percent of OIM Sweden AB is expected to have a marginally positive impact on Prevas' profit per share during the current financial year. For more information visit our website www.prevas.se.

Prevas AB's Annual and Sustainability Report and Remuneration Report for the 2024 financial year are available on the company's website, prevas.se.

Operational strength key ratios, projects in time

Customer satisfaction, delivery precision and warranty work are continuously metered as part of the company's certified quality system. Since starting in 1985, Prevas has had a very high number of satisfied customers and uniquely high quality ratings regarding delivery precision and warranty. Prevas' customer satisfaction during the quarter was 8.8 (scale from 1 to 10).

The Parent Company

April – June

Turnover amounted to SEK 206.4 million (218.0) and profit after financial items amounted to SEK 10.3 million (20.4).

Turnover and EBITA were impacted by a lower utilization rate and a negative calendar effect, as the quarter contained one fewer working day compared to the corresponding quarter last year.

Interest expenses increased by SEK 2 million compared to the corresponding quarter last year. The increase was attributable to loans taken out in connection with the acquisition of Enmac. The effect of the revaluation of loans and currency holdings in foreign currencies resulted in a net effect of SEK -0.4 million (1.6) in the quarter.

January – June

Turnover amounted to SEK 428.5 million (440.1) and profit after financial items amounted to SEK 27.6 million (46.1).

Turnover and EBITA were impacted by a lower utilization rate and a negative calendar effect, as the period contained two fewer working days compared to the corresponding period last year.

Interest expenses increased by SEK 4 million compared to the corresponding period last year. The increase was attributable to loans taken out in connection with the acquisition of Enmac. The effect of the revaluation of loans and currency holdings in foreign currencies resulted in a net positive effect of SEK 1.1 million (1.6) during the period.

Risks and uncertainty factors

Prevas is relatively unaffected by the aggressive and terrible invasion of Ukraine, which has resulted in so much human

suffering. Prevas has no employees, partners or customer assignments in Russia or Ukraine. Other aspects such as inflation, problems with transport, raw goods, materials and semiconductor components create overall uncertainty for the future and especially for our customers. These are risks that are difficult to assess, and Prevas' strategy to address them is to be as adaptable and dynamic a company as possible.

We have not yet seen any direct effects of the external situation and changes in customs regulations, but are aware that several of our customers are being affected. At the same time, we are prepared and have both the expertise and the capacity to act quickly if the situation should change.

The market situation remains challenging, as in previous quarters. However, demand continues to be strong in certain areas such as the energy and defense industries. Prevas experiences a continued competitive labor market where it is important to work actively with employer branding. This is both to retain staff and to attract new employees to Prevas. Prevas has worked for a number of years to establish itself as an attractive employer. A job that turned out well. The fact that Prevas is seen as an attractive employer with exciting assignments and development opportunities will continue to be important factors in the future.

Ever greater requirements for information security. With the digitalization of society, the risk of confidential data being stolen, disseminated to unauthorized persons and thus causing damage is increasing. Prevas works actively with systematic information security, which means continuously working preventively, and adapting the protection based on the organization's needs and risks.

It is Prevas' assessment that the risks are generally unchanged during 2025. More information about Prevas' risks and their management can be found in the Annual Report for 2024. It

is the company's evaluation that the risks are the same as for the parent company.

Transactions with affiliated bodies

Any transactions of this type were reported in the 2024 Annual Report under Note 26 and are largely attributable to purchases and sales between companies within the Group. There will be corresponding transactions in 2025.

Accounting principles

This interim report has been prepared in accordance with IAS 34 Interim Financial Reporting. The group report has been prepared in accordance with International Financial Reporting Standards, IFRS, as adopted by the EU, and where relevant Swedish legislation regarding annual reports. The parent company accounts have been prepared in accordance with the Annual Accounts Act and recommendation RFR 2 Accounts for legal entities. The same reporting principles and calculation methods have been used in this report as in the most recent annual report. No other changes to other standards have affected the report in 2025.

Financial instruments

Reported value of liquid funds, account receivables, generated but unbilled income, interest bearing liabilities and suppliers' liabilities are considered to make up an approximation of the actual value of these receivables and liabilities.

Any contingent consideration to be transferred by the Group is reported at fair value at the time of acquisition. Subsequent changes in the fair value of a contingent consideration classified as an asset or liability are recognized in the income statement as financial income/expense.

Financial calendar

Interim report Jan–Sep 2025, Oct 24, 2025. Year-end report 2025, Feb 10, 2026.

This information is such that Prevas AB (publ) is required to make public in accordance with EU regulations to prevent market abuse and the Securities Market Act.

The information was submitted for publication, through the agency of the contact persons set out on this page, at 8.30 a.m. CET on July 17, 2025.

This financial report has not been subject to inspection by the company's auditors. This interim report has been prepared in Swedish and translated into English. In the event of any discrepancies between the Swedish original and the translation, the Swedish shall have precedence.

Contact

Magnus Welén, CEO 021-360 19 00, 070-593 44 57 magnus.welen@prevas.se

Helena Burström, CFO 021-360 19 00, 072-201 11 14 helena.burstrom@prevas.se

13 Interim Report January – June 2025

Certification

The Board of Directors and the CEO ensure that the interim report provides a true and fair view of the Group's and the Parent Company's operations, financial position and results, and describes the significant risks and uncertainties faced by the Parent Company and the companies included in the Group.

This interim report has not been reviewed by Prevas' auditors.

Västerås, July 17, 2025

Christer Parkegren Chairman

Robert Demark Board member

Ebba Fåhraeus Board member Magnus Lundin Board member

Pia Sandvik Board member Johan Strid Board member

Christer Wallberg Board member

Magnus Welén Chief Executive Officer Per Åhman Employee representative

Karin Sohlén Taylor Employee representative

Condensed statements of profit/loss The Group

Condensed statement of comprehensive income, The Group

SEK thousand	Q2 2025	Q2 2024	Q1-2 2025	Q1-2 2024	Full year 2024	SEK thousand	Q2 2025	Q2 2024	Q1-2 2025	Q1-2 2024	Full year 2024
Net turnover	408,803	395,629	839,469	802,716	1,586,626	Profit for the period	9,734	26,016	32,828	59,291	92,261
Other operating income	86	–	177	–	517	Items that will be implemented later in
Other external expenses	-107,721	-115,906	-223,243	-236,966	-463,618	the period's profit/loss:
Personnel expenses	-270,022	-236,143	-538,507	-467,133	-949,020	Exchange differences on translating foreign operations	7,595	-737	-9,824	1,607	5,273
Amortization intangible fixed assets	-3,088	-1,966	-6,242	-3,925	-10,384
Amortization right of use assets	-10,204	-8,801	-20,525	-16,791	-37,075	Comprehensive income for the period after tax	17,329	25,279	23,004	60,898	97,534
Depreciation tangible fixed assets	-1,245	-1,020	-2,538	-1,883	-4,416	Comprehensive income for the period
Operating profit, EBIT	16,609	31,793	48,591	76,018	122,630	attributable to parent company owners	16,407	25,071	22,802	59,969	96,642
Financial net	-4,544	1,783	-6,883	2,006	-2,325	Comprehensive income for the
Profit before tax	12,065	33,576	41,708	78,024	120,305	period attributable to non-controlling interests	922	208	202	929	892
Income tax	-2,331	-7,560	-8,880	-18,733	-28,044
Profit for the period	9,734	26,016	32,828	59,291	92,261
Profit for the period attributable to parent company owners	9,377	25,808	31,972	58,362	91,369
Profit for the period attributable to non-controlling interests	357	208	856	929	892
Profit per share before dilution attributable to parent company shareholders, SEK	0.73	2.02	2.48	4.58	7.13
Profit per share after dilution attributable to parent company shareholders, SEK	0.73	2.01	2.48	4.56	7.13

Condensed balance sheets

The Group

SEK thousand	June 30th 2025	June 30th 2024	Dec 31st 2024
Goodwill	661,662	405,956	669,940
Other intangible fixed assets	42,780	28,210	48,172
Tangible fixed assets	14,488	13,013	15,105
Rights-of-use assets	137,898	77,978	158,166
Deferred tax asset	36,065	18,378	37,647
Financial fixed assets	67	1,610	36
Total fixed assets	892,960	545,145	929,066
Inventory	3,233	3,319	3,485
Current receivables	459,624	437,471	460,436
Liquid funds	17,230	119,729	43,813
Total current assets	480,087	560,519	507,734
TOTAL ASSETS	1,373,047	1,105,664	1,436,800

SEK thousand	June 30th 2025	June 30th 2024	Dec 31st 2024
Equity attributable to owners of parent company	609,903	609,476	646,504
Equity attributable to non-controlling interests	54,558	33,920	56,552
Total equity	664,461	643,396	703,056
Deferred tax liability	75,347	54,162	79,863
Provisions	2,223	4,323	3,140
Long-term non-interest bearing liabilities	4,615	8,080	4,501
Long term interest bearing liabilities	203,145	45,932	246,120
Total non-current liabilities	285,330	112,497	333,624
Current interest bearing liabilities	85,558	45,125	89,666
Other interest bearing liabilities	337,698	304,646	310,453
Total current liabilities	423,256	349,771	400,119
TOTAL LIABILITIES AND EQUITY	1,373,047	1,105,664	1,436,800

Changes in equity in summary

The Group

SEK thousand	June 30th 2025	June 30th 2024	Full year 2024
Opening balance	703,056	639,647	639,647
Total comprehensive income for the period
attributable to parent company owners	22,802	59,969	96,642
Total comprehensive income for the period
attributable to non-controlling interests	202	929	892
Changes in ownership attributable to non-con
trolling interests	–	–	22,668
Dividend attributable to
non-controlling interests	-2,196	–	-2,139
Warrant programs	1,801	5,490	5,846
Dividend	-61,205	-62,639	-60,500
Closing balance	664,461	643,396	703,056
Equity attributable to owners of parent company	609,903	609,476	646,504
Equity attributable to non-controlling interests	54,558	33,920	56,552

Condensed cash flow analysis

The Group

	Q2	Q2	Q1-2	Q1-2	Full year		Q2	Q2	Q1-2	Q1-2	Full year
SEK thousand	2025	2024	2025	2024	2024	SEK thousand	2025	2024	2025	2024	2024
ONGOING OPERATIONS						FINANCING ACTIVITIES
Profit before tax	12,065	33,576	41,708	78,024	120,305	Amortization of lease liabilities	-9,569	-8,652	-16,373	-16,339	-35,001
Adjustments for items not included in cash						Dividends	-63,401	-62,639	-63,401	-62,639	-62,639
flow:						Issue of shares/warrants,
Amortization	14,536	11,770	29,305	22,571	51,876	LTI 2021/2024, LTI 2024/2027 and LTI
Other	-458	-1,558	4,966	-1,613	-2,130	2025/2028	1,801	5,490	1,801	5,490	5,846
Paid income tax	-10,339	-10,857	-22,778	-32,126	-53,343	Divestment of financial assets	–	–	–	–	1,234
Interest paid	-2,307	992	-3,864	2,044	-3,874	Repayment of stockholder contributions,
Cash flow from operating activities						non-controlling interests	–	–	–	–	-145
before change to working capital	13,497	33,923	49,337	68,900	112,834	Repayment of loans	-12,500	-5,625	-24,860	-5,625	-116,284
Changes to inventories	-186	7,760	205	9,873	10,422	Take up of loans	–	–	–	–	199,946
Changes to operating receivables	3,930	21,626	3,593	917	42,140	Cash flow from financing
Changes to operating liabilities	32,389	-186	28,671	10,503	-28,627	activities	-83,669	-71,426	-102,833	-79,113	-7,043
Cash flow from ongoing operations	49,630	63,123	81,806	90,193	136,769	Cash flow for the period	-35,918	-10,734	-24,835	6,440	-69,713
						Cash and cash equivalents, start of
INVESTMENT ACTIVITIES Acquisition of business and shares						period	48,867	130,064	43,813	112,328	112,328
excluding cash and cash equivalents	–	–	–	–	-190,748	Exchange differences on cash and cash
Additional consideration regarding previous						equivalents	4,281	399	-1,748	961	1,198
years' acquisitions	-288	–	-288	–	–	Cash and cash equivalents, end of
Investment in intangible fixed assets	-898	–	-1,523	–	-1,571	period	17,230	119,729	17,230	119,729	43,813
Investment in tangible fixed assets	-693	-2,431	-1,997	-4,640	-7,120
Cash flow from investment activities	-1,879	-2,431	-3,808	-4,640	-199,439

Quarter overview

The Group

	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Net turnover, MSEK	408.8	430.7	432.0	351.9	395.6	407.1	399.3	311.4	377.7	394.3
EBITA profit/loss*, MSEK	20.7	35.6	32.6	26.5	36.2	53.5	45.0	31.8	35.7	59.7
EBITA margin*, %	5.1	8.3	7.5	7.5	9.2	13.2	11.3	10.2	9.5	15.1
EBIT profit/loss, MSEK	16.6	32.0	28.7	17.9	31.8	44.2	42.4	29.3	33.0	57.8
EBIT margin, %	4.1	7.4	6.6	5.1	8.0	10.9	10.6	9.4	8.7	14.7
Number of workdays	59	62	62	66	60	63	63	65	59	64
Number of employees at end of period	1,033	1,053	1,086	1,082	899	902	915	888	899	887
Number of employees, average	966	990	967	948	854	865	874	835	847	837
Net turnover/employee, TSEK	423	435	447	371	463	471	457	373	446	471
Equity ratio, %	48.4	50.3	48.9	48.3	58.2	60.9	60.3	60.8	59.0	59.3
Profit/share before dilution, SEK	0.73	1.75	1.81	0.75	2.02	2.56	2.42	1.74	1.92	3.20
Profit/share after dilution, SEK	0.73	1.75	1.81	0.75	2.01	2.54	2.42	1.73	1.90	3.18
Equity/share before dilution, SEK	47.33	50.67	50.43	48.28	47.78	50.20	47.46	45.22	43.57	46.04
Equity/share after dilution, SEK	47.33	50.67	50.43	48.28	47.57	49.96	47.22	44.94	43.22	45.67

*) The definitions of EBITDA and EBITA were adjusted in Q1 2024 for the purpose of improving analysis of the operating activities between periods. Acquisition related items and write downs of intangible assets are no longer included in EBITDA and EBITA. Write downs of acquisition related intangible assets and revaluing and present value calculation of contingent considerations have, as previously, no impact on EBITDA and EBITA. The key ratios for 2023 have been recalculated. See our definitions of EBITDA and EBITA on the website at www.prevas.se/rapporter.

Corporate

Operating segments

April – June 2025 April – June 2024

			2)		Corporate and elimina	Total
SEK thousand	Sweden	Denmark	Finland	Other	tions Group	Group
Sales to external customers	308,141	38,697	47,017	14,948	–	408,803
Other operating income	–	–	-1	–	87	86
Sales to other segments	990	47	50	35	-1,122	–
Personnel expenses	-204,308	-24,330	-32,271	-8,738	-375	-270,022
EBITDA profit/loss	19,693	74	1,302	-432	1) 11,548	32,185
Amortizations/depreciations	-3,901	-87	-1,203	-30	-9,316	-14,536
Acquisition-related items					-1,040	-1,040
EBITA profit/loss	18,625	52	1,178	-462	1,344	20,737
EBIT profit/loss	15,792	-13	100	-462	1,192	16,609
Financial items	2,906	-477	-550	298	-6,721	-4,544
Profit after financial items	18,698	-490	-450	-164	-5,529	12,065

	Total						Total
	Group	SEK thousand	Sweden	Denmark	Other	and elimina tions	Group
		Sales to external customers	339,006	42,366	14,257	Group –	395,629
		Other operating income	–	–	–	–	–
		Sales to other segments	1,044	227	–	-1,271	–
		Personnel expenses	-203,432	-25,011	-7,325	-375	-236,143
1)		EBITDA profit/loss	32,581	3,308	565	1) 9,582	46,036
1)		Amortizations/depreciations	-3,924	-21	-34	1) -7,808	-11,787
		Acquisition-related items				-2,456	-2,456
		EBITA profit/loss	31,616	3,287	532	780	36,215
		EBIT profit/loss	28,657	3,287	531	-682	31,793
		Financial items	2,437	70	283	-1,007	1,783
		Profit after financial items	31,094	3,357	814	-1,689	33,576

January – June 2025

January – June 2025							January – June 2024
SEK thousand	Sweden	Denmark	2) Finland	Other	Corporate and elimina tions	Total Group	SEK thousand	Sweden	Denmark	Other	Corporate and elimina tions	Total Group
Sales to external customers	634,536	79,571	94,598	30,764	–	839,469	Sales to external customers	692,221	79,844	30,651	–	802,716
Other operating income	–	–	94	–	83	177	Other operating income	–	–	–	–	–
Sales to other segments	1,804	98	50	65	-2,017		Sales to other segments	1,595	282	22	-1,899
Personnel expenses	-408,702	-47,979	-64,511	-16,564	-750	-538,506	Personnel expenses	-405,518	-46,801	-14,064	-750	-467,133
EBITDA profit/loss	50,570	2,693	1,837	1,182	1) 23,107	79,389	EBITDA profit/loss	79,164	7,083	4,076	1) 18,112	108,435
Amortizations/depreciations	-7,844	-178	-2,468	-65	1) -18,750	-29,305	Amortizations/depreciations	-7,678	-43	-71	-14,806 1)	-22,599
Acquisition-related items					-1,493	-1,493	Acquisition-related items				-9,819	-9,819
EBITA profit/loss	48,390	2,647	1,589	1,117	2,583	56,326	EBITA profit/loss	77,394	7,040	4,005	1,322	89,761
EBIT profit/loss	42,726	2,515	-631	1,117	2,865	48,591	EBIT profit/loss	71,486	7,040	4,005	-6,513	76,018
Financial items	2,842	-434	-1,246	612	-8,657	-6,883	Financial items	2,833	311	525	-1,663	2,006
Profit after financial items	45,568	2,081	-1,878	1,729	-5,792	41,708	Profit after financial items	74,319	7,351	4,530	-8,176	78,024

1) Leasing according to IFRS 16 that is applied at Group level is not recorded by the different segments. 2) Finland is a new segment following the acquisition of Enmac from July 1, 2024.

20 Interim Report January – June 2025

Sales to external customers by segment

Industries	Sweden	Denmark	Finland	Other	Total Group
Energy	35,649	10,930	4,614	1,145	52,338
Automotive and transport	24,879	61	–	–	24,940
Defense	55,982	2,777	4,071	112	62,942
Life science	42,938	8,204	–	800	51,942
Products and units	23,849	8,858	3,986	–	36,693
Steel and minerals	21,395	–	4,480	589	26,464
Telecoms	18,519	919	–	–	19,438
Engineering	59,611	5,463	25,663	3,739	94,476
Other	25,319	1,485	4,203	8,563	39,570
Total	308,141	38,697	47,017	14,948	408,803

January – June 2025

Industries	Sweden	Denmark	Finland	Other	Total Group
Energy	70,607	22,829	7,516	2,457	103,409
Automotive and transport	52,836	132	–	–	52,968
Defense	103,560	5,798	14,159	209	123,726
Life science	89,202	18,324	–	1,244	108,770
Products and units	54,834	16,509	4,938	–	76,281
Steel and minerals	45,948	–	8,620	1,423	55,991
Telecoms	40,548	1,771	–	–	42,319
Engineering	122,996	10,731	53,783	8,038	195,548
Other	54,005	3,476	5,583	17,393	80,457
Total	634,536	79,570	94,599	30,764	839,469

April – June 2025 April – June 2024

Industries	Sweden	Denmark	Other	Total Group
Energy	25,536	10,240	1,342	37,118
Automotive and transport	31,219	122	–	31,341
Defense	52,218	287	–	52,505
Life science	48,067	12,487	394	60,948
Products and units	32,254	10,143	–	42,397
Steel and minerals	30,685	–	1,095	31,780
Telecoms	23,655	65	–	23,720
Engineering	66,852	6,607	4,887	78,346
Other	28,520	2,415	6,539	37,474
Total	339,006	42,366	14,257	395,629

January – June 2024

Industries	Sweden	Denmark	Other	Total Group
Energy	52,941	20,792	2,724	76,457
Automotive and transport	67,695	388	–	68,083
Defense	93,019	711	–	93,730
Life science	103,465	23,638	893	127,996
Products and units	70,508	19,078	–	89,586
Steel and minerals	64,087	–	1,932	66,019
Telecoms	48,061	317	–	48,378
Engineering	135,590	11,813	11,139	158,542
Other	56,855	3,107	13,963	73,925
Total	692,221	79,844	30,651	802,716

Key ratios The Group

	Q2	Q2	Q1-2	Q1-2	Full year
SEK thousand	2025	2024	2025	2024	2024
EBITDA margin before depreciation/amortiza
tion and write downs	7.9%	11.6%	9.5%	13.5%	12.0%
EBITA margin	5.1%	9.2%	6.7%	11.2%	9.4%
EBIT margin	4.1%	8.0%	5.8%	9.5%	7.7%
Operating margin	3.0%	8.5%	5.0%	9.7%	7.6%
Average number of shares outstanding,
thousand
before dilution	12,885	12,775	12,885	12,756	12,821
after dilution	12,885	12,816	12,885	12,812	12,821
Profit per share before dilution, SEK	0.73	2.02	2.48	4.58	7.13
Profit per share after dilution, SEK	0.73	2.01	2.48	4.56	7.13
Equity per share before dilution, SEK			47.33	47.78	50.43
Equity per share after dilution, SEK			47.33	47.57	50.43
Equity ratio			48.4%	58.2%	48.9%
Return on capital employed			5.6%	10.9%	14.5%
Return on equity			4.8%	9.2%	13.7%
Average number of employees	966	854	979	858	901
Number of workdays	59	60	121	123	251
Net turnover per employee, SEK thousand	423	463	857	936	1,761
Turnover per employee, SEK thousand	423	463	858	936	1,762

Definitions of key ratios, see pages 56-57 in Prevas' 2024 annual report and calculations on the website, www.prevas.se/rapporter.

Acquisition-related items The Group

SEK thousand	Q2 2025	Q2 2024	Q1-2 2025	Q1-2 2024	Full year 2024
Amortization of acquisition-related intangible assets	-2,987	-1,852	-6,003	-3,697	-9,677
Transaction costs	-665	-2,081	-743	-9,069	-14,351
Costs of future services received	-375	-375	-750	-750	-1,500
Acquisition-related items	-4,027	-4,308	-7,496	-13,516	-25,528

Condensed statements of profit/loss The Parent Company

	Q2	Q2	Q1-2	Q1-2	Full year
SEK thousand	2025	2024	2025	2024	2024
Net turnover	206,371	218,023	428,539	440,165	821,588
Other operating income	–	–	–	–	–
Other external expenses	-79,290	-80,280	-165,229	-157,876	-300,972
Personnel expenses	-113,660	-115,619	-228,795	-230,862	-434,818
Amortization intangible fixed assets	-2,772	-2,783	-5,545	-5,565	-11,123
Depreciation tangible fixed assets	-270	-312	-567	-612	-1,259
Operating profit, EBIT	10,379	19,029	28,403	45,250	73,416
Profit from shares in Group companies	2,505	1,797	2,255	1,625	6,318
Interest income and similar profit items	2,106	1,299	8,168	2,394	5,378
Interest costs and similar profit items	-4,665	-1,687	-11,180	-3,188	-12,619
Profit after financial items	10,325	20,438	27,646	46,081	72,493
Tax allocation reserve	–	–	–	–	-20,600
Income tax	-2,396	-4,620	-6,845	-10,713	-11,945
Profit for the period	7,929	15,818	20,801	35,368	39,948

Condensed balance sheets

The Parent Company

SEK thousand	June 30th 2025	June 30th 2024	Dec 31st 2024
Intangible fixed assets	21,216	29,224	25,237
Tangible fixed assets	1,729	2,603	2,209
Financial fixed assets	583,884	325,442	594,726
Deferred tax asset	912	–	885
Total fixed assets	607,741	357,269	623,057
Inventory	454	1,787	731
Current receivables	239,693	227,451	237,952
Cash and Bank	13,910	104,176	12,806
Total current assets	254,057	333,414	251,489
TOTAL ASSETS	861,798	690,683	874,546

SEK thousand	June 30th 2025	June 30th 2024	Dec 31st 2024
Restricted equity Non-restricted equity	42,178 190,545	42,178 224,212	42,178 229,148
Total equity	232,723	266,390	271,326
Untaxed reserves	93,100	72,500	93,100
Provisions	1,292	1,722	1,827
Long-term non-interest bearing liabilities	–	4,893	–
Long term interest bearing liabilities	103,619	–	129,882
Total non-current liabilities	198,011	79,115	224,809
Current interest bearing liabilities	49,720	16,875	50,230
Other short term liabilities	381,344	328,303	328,181
Total current liabilities	431,064	345,178	378,411
TOTAL LIABILITIES AND EQUITY	861,798	690,683	874,546

Invitation to presentation of Prevas' interim report January – June 2025

A press and analyst presentation will be held on Thursday, July 17 at 9.30 a.m. CET, which can be followed via webcast https://www.finwire.tv/webcast/prevas/q2-2025/.

About Prevas

Prevas is an innovative development house with a focus on product and production development, where ingenuity is at the center. We use great technical expertise and business understanding to help our customers within widely differing industries to gain greater benefits from the technological advances of our time. Good for people, the planet and profits. Prevas was founded in 1985 and currently has 1,100 employees in Sweden, Finland, Denmark and Norway. Prevas has been listed on NASDAQ Stockholm since 1998. For more information about Prevas, visit www.prevas.com.

Prevas AB Org. no. 556252-1384 Box 4 • Glödgargränd 14 • SE-721 03 Västerås info@prevas.se • +46 21-360 19 00 • www.prevas.se