Financial summary July – December 2025

• Net sales amounted to MSEK 23.8 (38.9)
• EBITDA amounted to MSEK -28.3 (10.1)
• Operating profit amounted to MSEK -36.8 (8.0)
• Earnings per share amounted to SEK -0.6 (-3.2)

Financial summary January – December 2025

• Net sales amounted to MSEK 51.9 (38.9)
• EBITDA amounted to MSEK -29.2 (10.1)
• Operating profit amounted to MSEK -39.8 (8.0)
• Earnings per share amounted to SEK -1.3 (6.7)

This year‑end report presents financial information for the years 2025 and 2024, as well as for the second halves (H2) of 2025 and 2024. The financial information relates solely to the group established on 25 August 2025 in connection with the reverse acquisition. This entity forms the foundation of the Group’s current structure, operations, and strategic development.

As a result, the presentation of financial information pertaining to the former group is not considered meaningful, as such data would not provide relevant or decision‑useful insights into the Group’s present financial performance or position. Readers seeking historical information relating to the former group are referred to financial reports published prior to the reverse acquisition.

Highlights During the Period

• In February 2025, the subsidiary ORTELIUS E2 AB was established, focusing on providing experienced consultants — so-called “Engaged Experts”— for results-driven assignments and strengthening the group’s offering within specialized expert capacity.
• In June, a formal decision was made to acquire Ellwee AB, which was subsequently renamed ORTELIUS International AB.
• In September, ORTELIUS International AB, through its subsidiary ORTELIUS E2 AB, acquired all shares in Tech5 AB, a well-established consulting firm with recognized, highly skilled consultants and a strong customer focus. The acquisition is a strategic step to further strengthen ORTELIUS, increasing capacity and expertise in project management, transformation, technology, and digitalization. The previously communicated three-year performance-based earn-out has been replaced with a fixed earn-out of SEK 4.8 million per year, to be settled in shares, over a three-year period. In addition, a portion of the remaining purchase price, amounting to SEK 700,000, will also be settled in shares. Consequently, the full sharebased consideration will be converted into shares in 2028.
• ORTELIUS International AB (publ) was officially listed on Nasdaq First North Growth Market under its new name on October 3.
• Also in October, a framework agreement was signed for the delivery of program management and IT services within the automotive industry with a total contract value of up to approximately EUR 30 million over the program period through 2027.
• A new Board of Directors was elected at an Extraordinary General Meeting in November.
• Anders Berglund assumed the position as new CEO on November 14, and Herman Weber assumed the position as new CFO on December 3.
• During the fourth quarter, the directed share issues related to the previously communicated reverse acquisition transaction, as well as the set-off of debt to JEQ Capital AB, were completed and registered.

Highlights After the Period

• Stefan Sallerfors resigned from the Board of Directors for personal reasons, effective January 30, 2026.

CEO Statement

A Historic Step – and the Beginning of the Next Phase

2025 was a historic year for ORTELIUS. Through the listing on Nasdaq First North Growth Market, via a reverse acquisition, the company entered the next phase of its development. The listing is clear proof of long-term efforts and marks the beginning of a new chapter as a public company — a chapter with stronger conditions for sustainable, profitable growth.

In parallel with the listing, extensive internal transformation work was carried out. The business was consolidated. Governance, processes and structures were clarified and adapted to the requirements of being a listed company. This work has been crucial in creating an organisation that is scalable, manageable and well positioned for the future.

2025 was therefore a transition year. The necessary building blocks for continued development were established, which entailed increased costs, primarily related to the listing process, legal advisory services and the establishment of new structures.

These costs are largely non-recurring. The significant internal focus required impacted the year’s earnings but laid the foundation for increased financial discipline and future growth.

Clear Strategic Positioning

ORTELIUS holds a strong and clear position within Data Readiness and Enterprise AI. We support organisations from strategy to implementation and ultimately to realized business value. Through strategic advisory, structured and quality-assured data, as well as clear business logic and governance, we create the conditions for sustainable initiatives where AI becomes reliable and can be used long-term with real operational impact.

Commercial Development and Delivery Build-Up

During the year, a framework agreement was signed for program management and IT services within the automotive industry with a total contract value of up to approximately EUR 30 million through 2027. The agreement demonstrates our ability to take a leading role in large and complex customer programs and complements our strong position within digital transformation.

At the same time, establishing the delivery has involved an initial investment phase. Team build-up, competence development and the establishment of governance and delivery structures, together with primarily external delays related to project execution and permit processes, have impacted both costs and cash flow during the year.

It has been clear that ORTELIUS needs to strengthen financial control. The company operates with a balance sheet and cash flow profile that require continued discipline, clear governance and ongoing measures. 2025 has been a transition year, marked by costs related to the listing process and the establishment of structures required for a public company. This has further highlighted the importance of a well-adapted financial platform.

We are currently reviewing our operations with a focus on efficiency, prioritization and execution. At the same time, developments among our customers confirm a clear shift: digital initiatives are increasingly moving from limited experiments to business-critical applications, with higher requirements for governance, robustness and long-term sustainability.

Scalable business model and long-term relationships

ORTELIUS’ model combines consulting services with recurring license and maintenance revenues. This creates stability and predictability over time. Our customer relationships are often multi-year and are built on continuous delivery. We do not only initiate change, but also further develop and manage solutions together with our clients. Long-term collaborations with companies such as Tetra Pak, Novo Nordisk, Alfa Laval, SKF, and Sandvik confirm the strength of our offering. These are organizations with high demands for robustness, traceability, and business-critical delivery.

Acquisitions that strengthen the offering

Acquisitions are a central part of ORTELIUS’ long-term growth strategy. During the year, the acquisition of the consulting firm Tech5 was completed. This strengthens the group’s offering within results-driven consulting and technical expertise. The acquisition is strategic and focused on complementary capabilities rather than volume. The integration work has begun with a focus on shared methodology, skills development, and a unified market offering.

Priorities for financial stability

In connection with the stock market listing, a capital raise was carried out with the aim of supporting the company’s financial position. The proceeds are allocated with a clear focus on prioritization, cost control and operational efficiency.

Current efforts are centered on aligning the cost base and resource allocation with the company’s near-term needs, while maintaining the ability to support continued development of the customer offering and organization. The company maintains a disciplined approach to investments and execution, with financial stability as a key priority going forward.

Looking Ahead

I would like to extend my sincere thanks to our employees, Board and shareholders for their commitment and trust during an intensive year. Since taking office, the focus has been clear: strategy, priorities and execution.

With a focus on organic growth, stable earnings development and selective strategic acquisitions, we see good opportunities to strengthen our market position and increase the share of recurring revenue.

Anders Berglund

CEO and Group CEO
ORTELIUS International AB

Information from ORTELIUS

Important events, interim reports and year-end reports are published immediately through press releases and are also available on our website, investors.ortelius.com/financial-reports. Visitors may subscribe to financial reports and press releases on the website.

Financial Calendar

Annual Report 2025 6 May 2026
Interim Report January–March 2026 27 May 2026
Annual General Meeting 2026 29 May 2026
Interim Report April–June 2026 26 August 2026
Interim Report July–September 2026 26 November 2026

Financial reports will be available on the company’s website at investors.ortelius.com/financial-reports