Repositioning for Global Growth

Over the past 18 months, Eevia has regained commercial traction following the 2023 loss of 70% of its revenue from a major U.S. customer, who remains a customer with smaller but increasing purchases. Eevia is now engaged with several leading global nutraceutical brands and positioning itself as an early mover and disruptor in polyphenol-rich botanical extracts. These bioactive compounds are gaining strong momentum across global health markets.

Eevia is addressing global health challenges with bioactives extracted from Arctic plants from the Nordic Taiga, the boreal forest on the North Calotte - the Cap of the North covering Sweden, Finland and Norway. The Nordic Taiga is one of the world's largest terrestrial biomes, covering approximately 30 million hectares (nearly 300,000 km²) of wild, productive forest-roughly the size of the United Kingdom. It yields several million tons of highly potent wild berries each year, along with vast quantities of mushrooms and other plant biomass, including pine and birch wood. This biome is a rich source of bioactive natural compounds beneficial to human health.

Eevia had recently intended to undertake required upgrades to its small "brownfield" manufacturing facility in Finland to enable the valorization of side-streams that currently go to waste and to improve energy- and labour efficiency. Despite receiving significant equity investments-mainly from Swedish shareholders-and two Seal of Excellence awards from the European Innovation Council, Eevia has over the last seven years been unable to achieve any significant non-dilutive financing from national funding institutions in Finland (eg. Centre for Economic Development, Transport and the Environment). Due to the lack of public and non-dilutive funding support, continued equity-funded development of the manufacturing-site in Finland is unviable.

"Eevia needs to manufacture its significant side-streams into sellable products to be profitable on compendial products. When we process a batch of 9 tons of wild berries, we gain approximately 90 kg of high-value extract, but we also get almost 9 tons kg of side-stream materials - various fractions containing valuable polyphenols, fibers, and organic compounds. There are currently treated as biowaste at a cost," explains Erik Eide, Eevia's Commercial Director. "Unlocking that value as nutritional inputs for the food and health industry will increase revenues and reduce costs and significantly improve profitability and sustainability. Not doing it is unsustainable."

To meet these challenges and strengthen the foundation for future growth, the Board of Eevia has decided to close Eevia's manufacturing site in Finland and move the production and process development to BIOTEP in Tromsø, Norway, an advanced and flexible facility operated by the Norwegian food research institute Nofima. Eevia will rent the production facility including BIOTEP personnel on an "as needed" basis allowing for a significant reduction in running foxed costs. During rented production timeslots, Eevia retains full control over its production processes, mitigating operational risk, while enjoying the use of advanced technologies and avoiding the required investments in own facility.

This transition will impact up to eight employees in Finland. Eevia will work closely with affected staff to ensure a responsible and respectful transition. Eevia will retain its core functions in sales, IP ownership, R&D, and global market development.

Nofima and the BIOTEP facility: a Strategic Platform for Scaling and Innovation

Nofima's modular and flexible platform offers full-scale process optimization and capabilities for testing of new technologies without major upfront investment for Eevia. It is integrated with Nofima's infrastructure, including c. 400 food and biotechnology researchers and specialists, which creates a unique environment for product development. Tromsø is also a well-known biotechnology hub and home to a 36 company-strong Biotech North cluster (https://biotechnorth.no).

Hence, the Nofima partnership strengthens Eevia's ability to extract value from side streams by making sellable health and nutrition products. Accessing modern technologies, including micro-, ultra-, nano-filtration as well as reversed osmosis, Eevia may improve yields and throughput while cutting running fixed costs. A feasibility study confirmed that the capacity of BIOTEP is sufficient to support the current level of trading of Eevia of NOK 20 million and with capacity to grow with Eevia to approximately NOK 80 million. The possibility of testing new technologies also enables derisking of the plan for a future next-generation sustainable and highly efficient "greenfield" plant for plant- and berry extracts in near proximity to key berry harvest areas inside the Arctic circle on the North Calotte.

"We are excited to work with Eevia Health in advancing their berry-based health products," said Jan Erik Olsen, Research Director Marine Biotechnology Nofima and responsible for BIOTEP. "Our test-plant was designed exactly for this mission-helping companies turning natural renewable resources into health and nutrition innovations."

A Strategic path toward solving major health issues with natural compounds

Eevia's challenged liquidity and profitability are also mandating this move. 2023 was the last period Eevia operated with positive EBITDA. Despite cost savings and revenue growth, operations still need additional investments to reach stable profitability. With limited access to capital, it must make decisive alternative moves to restore profitability and positive cash flow.

"This move provides Eevia flexibility and strategic clarity," concluded Stein Ulve, Eevia's CEO. "Besides containing cost, this partnership enables us to innovate smarter and improve production protocols. We have huge commercial opportunities in the vast and fast-growing polyphenolic nutraceutical space. With BIOTEP we can immediately reduce fixed costs in Finland, while boosting sales through new customers and partners, and get the break we need to shift the company to a stronger position. Succeeding against incumbent multinational competitors with limited financial resources demands sharp strategic focus, agile execution, technology leadership, and strong financial discipline. We know how to beat competition and provide offers consumers can't refuse, so we will fight, and we will eventually win."

This disclosure contains information that EEVIA HEALTH PLC must make public according to the EU Market Abuse Regulation (EU nr 596/2014). The information was initially submitted for publication through the contact person's agency on June 12, 2025, at 14:55 EEST.

For further information, please contact:

Stein Ulve, CEO, Eevia Health Plc                          

Email: stein.ulve@eeviahealth.com  or investor@eeviahealth.com                     

Telephone: +358 400 22 5967                         

INFORMATION ABOUT EEVIA HEALTH PLC

Eevia Health Plc is a health ingredient company specialized in sustainable bioactive extracts from wild-harvested Nordic plants and berries. With a focus on gut health, including kidney and urinary health, as well as cellular protection, and inflammation, Eevia offers clinically relevant ingredients to global nutraceutical brands.

Eevia Health, founded in 2017, is a manufacturer of 100% organically certified plant extracts. The materials are primarily wild harvested from the pristine Finnish and Swedish forests near or above the Arctic Circle. The extracts are sold B2B as ingredients to dietary supplements and food brands globally, and these global brands utilize the ingredients in their consumer product formulas.

As a pioneering company, Eevia is developing high-value food ingredients, blended solutions, and biomaterials that significantly benefit human health. Eevia Health operates a modern green-chemistry production facility in Finland with a short value chain and environmentally friendly carbon footprint. Eevia listed its shares at the Spotlight Stock Market in Sweden in June 2021, with the short name (ticker) EEVIA. To learn more, please visit www.eeviahealth.com or follow Eevia Health on LinkedIn@EeviaHealth.