The objective of the contemplated IPO is to support the implementation of Savox's long-term business strategy and strategic objectives. Proceeds from the listing would strengthen the Company's balance sheet and financial flexibility, which would enable the implementation of the growth strategy. Stronger balance sheet would particularly support working capital management, the financing of customer and programme projects and long-term product development investments, enabling greater financial flexibility and optionality in funding. The listing would also allow Savox to access the capital markets and broaden its ownership base both with domestic and foreign investors, which would increase the liquidity of the shares. Furthermore, the IPO is expected to benefit Savox operationally, strengthen Savox's recognition among its customers, prospective employees and investors and other stakeholders and, thus, enhancing the Company's competitiveness and supporting long-term value creation. The listing and increased liquidity would also enable the Company to use its shares more effectively as consideration in potential acquisitions in the future and remuneration of personnel.

The contemplated IPO is expected to consist of a share issue by the Company of approximately EUR 30 million (gross proceeds) and of a share sale by the largest shareholder of the Company Savox S.A., a company controlled by the Chairman of the Company's Board of Directors Paul Ehrnrooth (the "Principal Shareholder"). The Principal Shareholder will remain as a committed long-term owner also after the contemplated IPO, together with certain other shareholders, including the Company's management. The proceeds from the share issue are intended to be used for supporting the Company's growth strategy, including strengthening the balance sheet, financing working capital and inventories, and reducing financial costs by optimising the Company's financing costs. The Company also plans to use proceeds from the share issue for supporting customer and programme projects, product development investments, and for the Company's general corporate purposes.

Danske Invest Finnish Equity Fund, DNB Asset Management, Elo Mutual Pension Insurance Company, Protean Funds Scandinavia and Tesi (Finnish Industry Investment Ltd) (together the "Cornerstone Investors") have each individually committed to subscribe for shares in the Company amounting, in total, to approximately EUR 26 million in the contemplated IPO, subject to certain conditions and on the condition that the maximum valuation of all shares in the Company does not exceed EUR 160 million (before any proceeds from the share issue).

Paul Ehrnrooth, Chair of Savox's Board of Directors, comments:

"The defence and safety and security sectors are undergoing a structural transformation, and the markets are expected to grow in the coming years. Savox holds strong positions both in the defence as well as the safety and security sectors, built on long-standing customer relationships, a high level of trust, and the ability to respond to customers' evolving needs.

Savox's aim is to continue accelerating growth in a determined manner across Europe, the United States, and selected Asia-Pacific markets. The Company has grown strongly in recent years, and our goal is to further build on this momentum in line with our strategy. Our products and solutions are widely utilised in military applications as well as across a broad range of safety and security use cases, including search and rescue, law enforcement, and other critical operational environments. This versatility supports our position across multiple growing market segments. At this stage of our development, we invite new investors to join us in supporting the execution of Savox's growth strategy and the creation of long-term value."

Jerry Kettunen, Savox's CEO, comments:

"Savox has over the years succeeded in establishing a strong position as a provider of critical communications systems. Our customers around the world in the defence as well as safety and security sector value our expertise and the high performance of our products when operating in demanding field conditions.

In recent years, we have expanded our operations particularly in the defence sector, which already accounted for approximately 51 per cent of our revenue last year. Our product offering includes, for example, tactical communication devices and next-generation intercom and situational awareness solutions. In the field, effective and high-quality communication is of vital importance for forming an accurate situational picture.

Our technology platform enables system interoperability across different systems. Our vertically integrated production model, in turn, supports product development in collaboration with our customers. Although we operate globally, our production is primarily concentrated in Finland, which supports quality control and delivery reliability.

Our objective is to grow our revenue by an average of no less than 20 per cent annually for the period ending at the end of 2030 and to achieve an EBIT margin above 20 per cent over time."

Savox in brief

Savox is a Finnish company operating in the critical communications sector that offers a wide range of communication devices and solutions for global defence, law enforcement, fire and rescue, and industrial markets. The Company has a broad product portfolio covering tactical communication controllers, advanced hearing protection, rugged ICT devices, search and rescue systems, and next-generation intercom and vision solutions. Savox's end customers include, among others, defence forces, law enforcement authorities, fire and rescue organisations, and industrial professionals. The Company's solutions support these customers' safe and effective communication, coordination, and operation, particularly in demanding field conditions.

The Company's business is divided into three main categories: (i) defence, which includes, among others, dismounted and mounted communication solutions and active hearing protection; (ii) safety and security, which includes solutions intended for fire and rescue services and law enforcement, such as hearing protection and communication devices, as well as industrial hearing protection and communication accessories; and (iii) industry, which includes offerings targeted at the industrial business, such as mechanical engineering and industrial computers.

Savox operates in the global critical communications market supported by strong long-term structural growth drivers, including increasing geopolitical uncertainty, the strengthening of defence and security capabilities, and growing investment in personnel performance, safety, and situational awareness in demanding operational environments.[1] In 2025, Savox employed an average of 302 employees, and the Company's revenue for the year ended 31 December 2025 was EUR 56,076 thousand and adjusted EBIT was EUR 7,668 thousand.

For the three-month period ended 31 March 2026, the Company's order backlog amounted to EUR 61 million including approximately EUR 35 million of confirmed orders and EUR 25 million options, the exercise of which the management of the Company considers likely (EUR 41 million including approximately EUR 37 million in confirmed orders and EUR 5 million in options for three-month period ended 31 March 2025).

Strengths

Savox believes that the following factors in particular constitute the Company's key strengths and competitive advantages:

• Established position in the defence and safety and security critical communications solutions market characterised by strong growth potential and high barriers to entry
• Advanced technology platform and vertically integrated production model enabling high-quality dual-use products
• Diversified revenue streams combining strongly growing, long-cycle defence programmes with predictable revenue derived from long-standing contract-based original design manufacturer and distributor partnerships as well as recurring sales
• Historically strong profitability supported by sales mix and economies of scale
• Clear growth visibility from a robust order backlog and global upselling opportunities
• Strong industry reputation and experienced management positioned to create sustainable value

Strategy

Savox has defined clear and concrete strategic priorities aiming to the Company's profitable and sustainable long-term growth. The Company's strategy extends to 2030 and is built on three pillars: further developing its strong position in the critical communications market, accelerating growth in the defence sector, and expanding its market position in selected geographical areas. The deepening of customer relationships, technological pioneering, and the determined development of commercial and operational capabilities, are at the core of the execution of the strategy.

A key strategic objective is to increase the share-of-wallet with current accounts and strengthen penetration in core markets. Savox aims to continue expanding its collaboration with existing accounts by offering a broader portfolio of products and solutions, and by leveraging its modular technology platform to commercialise new solutions. Simultaneously, the Company seeks to accelerate new client acquisition by strengthening its sales and marketing readiness and developing Savox's brand and recognition.

In the defence sector, Savox focuses on leveraging the structural growth drivers and long-term procurement programmes of the market. The Company invests in research and product development within defence sector products and solutions to enable the acquisition of new customer accounts and the development of existing customer relationships.

Savox's strategy also includes strengthening its position in the United States and selected Asia-Pacific markets, as well as developing the Company's global presence. The Company's production capacity and operational infrastructure support the execution of the strategy, and according to the Company's management, the existing production capacity enables the full production of increasing volumes without an immediate need for substantial additional investment.

Financial targets

The financial targets are forward-looking statements and are not guarantees of future financial performance. All financial targets presented in this release are solely targets and they do not constitute, and should not be treated as, forecasts or estimates of Savox's financial performance in the future.

The Board of Directors of the Company has adopted the following financial targets for the period ending at the end of 2030:

• Sales growth: Annual average revenue growth of no less than 20%.
• Profitability: EBIT margin to increase above 20% over time.
• Dividend policy: Targeting 30–50% pay-out ratio of the comparable earnings over time.

Profit guidance for financial year 2026

The guidance includes forward-looking statements concerning the Company's view on possible development in its different markets. They are not guarantees of the development of the Company's revenue or result or future financial performance. The result of the Company's operations could differ materially from market development, and the Company's guidance or other forward-looking statements should not be considered as a promise of future performance or result, which may differ materially from those set forth below.

Savox estimates its revenue to grow to EUR 65–75 million in 2026 and adjusted EBIT margin to be in the range of 14–18 per cent.

Savox's selected key figures

Savox's revenue for the financial year ended 31 December 2025 was EUR 56,076 (52,492) thousand, adjusted EBIT was EUR 7,668 (5,931) thousand and adjusted EBIT margin was 14 (11) per cent.

The following table sets forth the selected key figures of Savox.

_______
(1) Audited.

In its key figures, Savox presents certain performance measures that are not indicative figures of historical financial performance, financial position or cash flows as defined or designated in IFRS in accordance with the "Alternative Performance Measures" guidelines issued by the European Securities and Markets Authority and are therefore considered alternative performance measures. Savox believes that alternative performance measures provide meaningful supplemental information to the financial measures presented in the consolidated financial statements prepared in accordance with IFRS and increase the understanding of the profitability of Savox's operations.

Information on the contemplated IPO

The contemplated IPO is expected to consist of a share issue by the Company of approximately EUR 30 million (gross proceeds) and a share sale by the Principal Shareholder. The Company, its Board of Directors and management and the Principal Shareholder will be subject to customary lock-up arrangements.

The Cornerstone Investors have, subject to certain customary conditions, committed to subscribe for shares in the Company amounting, in total, to approximately EUR 26 million in the contemplated IPO assuming that the maximum valuation of all shares in the Company does not exceed EUR 160 million (before any proceeds from the share issue).

The terms, conditions and instructions regarding the contemplated IPO will be included in the prospectus, which Savox will prepare in connection with the contemplated IPO. If the Company chooses to move forward with the IPO, the prospectus and an English language translation will be published on the Company's website at ipo.savox.com.

Advisers

Nordea Bank Abp ("Nordea") has been appointed to act as sole global coordinator and joint bookrunner of the contemplated IPO (the "Sole Global Coordinator") and Skandinaviska Enskilda Banken AB (publ) Helsinki Branch ("SEB") has been appointed to act as joint bookrunner for the contemplated IPO (together with the Sole Global Coordinator, the "Managers"). The Company has appointed HLP Corporate Finance Oy to act as its financial adviser. Krogerus Attorneys Ltd is acting as legal adviser to Savox. White & Case LLP is acting as the legal adviser to the Managers. Miltton Ltd is acting as communications adviser to Savox.

Company presentation

Savox will organise a company presentation (in Finnish) today, 2 June 2026 at 11 a.m. EEST. Savox's Chairman of the Board of Directors, Paul Ehrnrooth, CEO Jerry Kettunen and CFO Juha Järvi will speak at the event. The event can be attended online at https://savox.events.inderes.com/20260602-itf. A recording of the event will be available on Savox's website at ipo.savox.com.

Further enquiries

Jerry Kettunen, CEO, tel. +358 40 044 4615

Juha Järvi, CFO, tel. +358 50 367 2286

Information about Savox

Savox is a Finnish company operating in the critical communications sector that offers a wide range of communication devices and solutions for global defence, law enforcement, fire and rescue and industrial markets. The Company has a broad product portfolio covering tactical communication controllers, advanced hearing protection, rugged ICT devices, search and rescue systems, and next-generation intercom and vision solutions. Savox's end customers include, among others, defence forces, law enforcement authorities, fire and rescue organisations, and industrial professionals. The Company's solutions support these customers' safe and effective communication, coordination, and operation, particularly in demanding field conditions. Our revenue in 2025 was EUR 56.1 million.

IMPORTANT INFORMATION

Neither this release nor the information contained herein is for publication, distribution or release, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or Singapore or any other jurisdiction in which publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States, nor may the securities of Savox Communications Plc (the "Company") be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended, and the rules and regulations thereunder. The Company does not intend to register any portion of the offering in the United States or to offer securities to the public in the United States.

The issue, offer, exercise and/or sale of securities are subject to specific legal or regulatory restrictions in certain jurisdictions. The Company, Nordea Bank Abp or Skandinaviska Enskilda Banken AB (publ) Helsinki Branch assume no responsibility in the event there is a violation by any person of such restrictions.

The information contained herein shall not constitute an offer to sell or a solicitation of an offer to purchase or subscribe, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. Investors must neither accept any offer for, nor acquire, any securities to which this document refers, unless they do so on the basis of the information contained in the applicable prospectus published or offering circular distributed by the Company.

The Company has not authorised any offer to the public of securities in the United Kingdom or in any Member State of the European Economic Area other than Finland. With respect to each Member State of the European Economic Area other than Finland and which applies the Prospectus Regulation (each, a "Relevant Member State"), no action has been undertaken or will be undertaken to make an offer to the public of securities requiring publication of a prospectus in any Relevant Member State. As a result, the securities may only be offered in the Relevant Member States (a) to any legal entity, which fulfils the requirements of a qualified investor as defined in the Prospectus Regulation; or (b) in any other circumstances falling within Article 1(4) of the Prospectus Regulation. For the purposes of this paragraph, the expression "offer of securities to the public" means a communication to persons in any form and by any means, presenting sufficient information on the terms of the offer and the securities to be offered, so as to enable an investor to decide to purchase or subscribe for those securities. The expression "Prospectus Regulation" means Regulation (EU) 2017/1129 of the European Parliament and of the Council, as amended.

This communication is directed only at persons who are outside the United Kingdom or persons who are qualified investors within the meaning of the Public Offers and Admissions to Trading Regulations 2024 and are also (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) high net worth entities or other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as the "Relevant Persons"). Any investment activity to which this communication relates will only be available to and will only be engaged with, the Relevant Persons. Any person who is not a Relevant Person should not act or rely on this document or any of its contents.

Full terms, conditions and instructions for the contemplated initial public offering will be included in the prospectus that will be prepared by the Company in connection with the contemplated initial public offering. The prospectus will be published on the website of the Company at ipo.savox.com.

Investors are advised to read the prospectus before making an investment decision to fully understand the risks and rewards associated with the investment. The approval by the Finnish Financial Supervisory Authority of the prospectus shall not be considered as an endorsement of the securities offered.

FORWARD-LOOKING STATEMENTS

Certain statements in this release are "forward-looking statements." Forward-looking statements include statements concerning plans, assumptions, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, the Company's competitive strengths and weaknesses, plans or goals relating to financial position, future operations and development, its business strategy and the anticipated trends in the industry and the political and legal environment in which it operates and other information that is not historical information. In some instances, they can be identified by the use of forward-looking terminology, including the terms "believes," "intends," "may," "will" or "should" or, in each case, their negative or variations on comparable terminology.

Forward-looking statements in this release are based on assumptions. Forward-looking statements involve inherent risks, uncertainties and assumptions, both general and specific, and the risk exists that the predictions, forecasts, projections, plans and other forward-looking statements will not be achieved. Given these risks, uncertainties and assumptions, investors are cautioned not to place undue reliance on such forward-looking statements. Any forward-looking statements contained herein speak only as at the date of this release. Save as required by law, the Company does not intend to, and does not assume any obligation to, update or correct any forward-looking statement contained in this release.

INFORMATION TO DISTRIBUTORS

Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended ("MiFID II"); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the "MiFID II Product Governance Requirements"), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any "manufacturer" (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the shares have been subject to a product approval process, which has determined that the shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the "Target Market Assessment"). Notwithstanding the Target Market Assessment, distributors should note that: the price of the shares may decline and investors could lose all or part of their investment; the shares offer no guaranteed income and no capital protection; and an investment in the shares is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to any offering of the shares.

For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the shares.

Each distributor is responsible for undertaking its own target market assessment in respect of the shares and determining appropriate distribution channels.

[1] Source: Third-party Market Study.