Quarterly Report Scandinavian Enviro Systems AB (publ)

Third Quarter 2026

• Net revenues for the period were MSEK 0.02 (1.6)
• Earnings after tax for the period were MSEK -37.3 (-25.4)
• Earnings per share for the period (before dilution) was SEK -0.03 (-0.02)
• Cash flow for the period after investments was MSEK -19.1 (-52.4)
• Enviro published a draft reorganisation plan as part of the company’s ongoing company reorganisation, including a proposal for a debt settlement
• Enviro entered into a conditional financing agreement with Nordic Restructuring and Growth Capital 1 for up to MSEK 100 and increased its existing financing facility with Alumni Capital Limited by MSEK 30, from MSEK 50 to a total of MSEK 80. As consideration for their financing commitments, the counterparties received commitment fees of MSEK 10 and MSEK 2.4, respectively, paid in the form of newly issued shares in the company
• During the period, Enviro made two drawdowns under the equity-based investment agreement with Alumni Capital Limited. In connection with these drawdowns, the company resolved on directed issues of a total of 42,222,222 shares and 3,554,887 warrants, raising approximately MSEK 6.1 before transaction costs
• Enviro announced the outcome of the exercise of warrants of series 2025:1 (TO5). Approximately 43.8 per cent of the outstanding warrants were exercised for subscription of shares, raising approximately MSEK 3.8 before issue costs
• The Gothenburg District Court approved an extension of the company’s ongoing company reorganisation by an additional three months, until 27 November 2026

Period of January-September 2026

• Net revenues for the period were MSEK 7.6 (28.9)
• Earnings after tax for the period were MSEK -144.9 (-69.9)
• Earnings per share for the period (before dilution) was SEK -0.13 (-0.08)
• Cash flow for the period after investments was MSEK -79.0 (-145.8)
• Enviro announced a leadership transition, with Fredrik Aaben appointed CEO and Maria Ljungstrand appointed CFO
• Enviro received a request for arbitration from Infiniteria
• Enviro applied for company reorganisation, which was approved by the Gothenburg District Court
• Enviro announced that the previously communicated timeline for the Uddevalla plant would not be met and that it was not possible at that time to establish a revised timetable
• Helene Svahn resigned from Enviro’s Board of Directors at her own request
• The subsidiary Tyre Recycling in Sweden AB was declared bankrupt following its own bankruptcy petition. The bankruptcy resulted in an impairment loss of SEK 80.8 million in the parent company
• Enviro signed a letter of intent regarding the potential licensing of its proprietary technology for the establishment of one or several tyre pyrolysis plants in North America
• Enviro terminated the agreements relating to the Infiniteria joint venture collaboration as part of its ongoing company reorganisation
• Enviro’s representatives stepped down from the Board of Directors of the joint venture Infiniteria
• Infiniteria requested the termination of Enviro’s company reorganisation, disputed the validity of the terminations of the joint venture agreements and announced damages claims. The Gothenburg District Court rejected the request and ruled that the company reorganisation should continue
• Enviro submitted an environmental permit application and secured an exclusive option to acquire the property intended for its planned first fully owned full-scale pyrolysis plant in the Nordic region
• Enviro entered into an equity-related financing arrangement with Alumni Capital Limited for up to MSEK 50. As consideration for the financing commitment, the company resolved on an initial directed issue of 22,222,222 shares and 25,000,000 warrants to Alumni Capital Limited
• Enviro signed a letter of intent regarding the potential licensing of its proprietary technology for the establishment of pyrolysis plants in Brazil
• At Enviro’s Annual General Meeting, all Board members were re-elected. The Board therefore consists of:
  • Ewa Björling, who was also re-elected Chair of the Board
  • Fabien Gaboriaud
  • Magnus Jakobson
  • Peter Möller
  • Björn Olausson
• Enviro received notice that Infiniteria had initiated a declaratory action before the Patent and Market Court regarding the exclusivity of the licence agreement

Significant events after end of period

• Enviro resolved on a directed issue of 10,000,000 shares and 520,731 warrants to Alumni Capital Limited. The issue raised approximately MSEK 0.75 before transaction costs
• Enviro obtained a waiver from Nordic Restructuring and Growth Capital 1 (NRGC) in respect of certain conditions for disbursement under the convertible loan agreement and made a first drawdown of MSEK 5. Following NRGC’s request to convert the entire loan amount, the Board of Directors resolved on a directed issue of 62,500,000 shares and 2,500,000 warrants to NRGC