Summary of the period January–March 2025

• Net operating revenue: SEK 0k (0)
• Operating result: SEK -2 712k (-2 568)
• Cash flow for the period: SEK 13 110k (13 568)
• Result per share: -0,04 SEK (-0,04)

CEO Comments
The first quarter of 2025 has been both clinically and strategically important for Neola Medical. Most notably, we strengthened our financial position through a successful directed share issue of approximately SEK 20 million, conducted via an accelerated bookbuilding procedure by Svenska Handelsbanken AB. We are pleased to welcome new institutional investors Cicero Fonder and Adrigo Fonder, alongside continued support from existing shareholders, including main shareholder Anmiro AB.

Having institutional investors complement our already strong shareholder base is an important milestone that reflects the long-term confidence in Neola Medical and our ambition to deliver sustainable value.

During the quarter, we also reached a major clinical milestone: the first baby has now been successfully included in our ongoing clinical pilot study in Sweden. This marks the very first time Neola® has been monitoring the lungs of a baby in a real-world neonatal intensive care setting. The study, initiated following regulatory approval from Swedish authorities, represents a significant step forward in validating our technology in its target patient group. This is particularly important, as preterm born babies’ lung physiology and medical needs differ substantially from those of full-term newborns. The insights gained from this study can contribute additional input as we continue refining Neola® and preparing for our pivotal clinical study in the U.S., which will be instrumental in supporting the planned FDA application for market approval.

Our international IP portfolio was further strengthened with corresponding patent grants in both Europe and China, two key strategic markets. These approvals, within a new patent family, reinforce the protection of our core medical technology for non-invasive lung monitoring and detection of pulmonary complications. A strong and expanding IP position remains central to sharpen our competitive edge as we advance through clinical development and securing future value.

Additionally, we are honored to have been named one of eight finalists for the Pioneer Prize, Sweden’s new global innovation award, presented at the World Expo 2025 in Osaka, Japan, in conjunction with the official Swedish delegation. This recognition underscores the international relevance of our innovation and contributes to our long-term ambition of improving neonatal care globally.

We look forward to the year ahead and the next steps in our journey to advance neonatal care. Thank you to all shareholders and partners for your continued trust and support.

Hanna Sjöström, CEO

The full report is attached to this press release and available on Neola Medical's website, www.neolamedical.com

Lund, May 21, 2025
The Board