Announcement no. 5/2026

Interim Report Q4 and Full Year 2025

Sveinn Sölvason, President and CEO, comments:

"We delivered solid sales in the fourth quarter amounting to USD 257 million. Organic sales growth was 7% and 10% in local currency including contribution from the majority investment in Streifeneder ortho.production, which was completed in September 2025.

Growth in the quarter was driven by Prosthetics & Neuro Orthotics, supported by continued strong growth momentum in EMEA and recently launched innovation. Sales in Patient Care picked up in Q4 with a strong finish to the year, meanwhile sales in Bracing & Supports ended flat.

The EBITDA margin came in at 19% compared to 21% in Q4 2024. The margin was positively impacted by strong sales growth and manufacturing efficiency but negatively impacted by FX, tariffs, and initiatives to enhance long-term growth and profitability in our Patient Care segment.

Across markets, geographies, and patient care settings, 2025 was a year of meaningful progress for Embla Medical. The fundamental need for our solutions remains as strong as ever despite an increasingly uncertain geopolitical environment. For 2026 we are issuing new guidance of 5-8% organic sales growth and an EBITDA margin of 20-22%"

Highlights Q4 2025

• Sales amounted to USD 257 million and organic growth was 7%, compared to 5% in Q4 2024. Local currency sales growth was 10% including acquisitions and 14% reported growth in USD. For FY 2025 organic sales growth was 6%.
• Prosthetics & Neuro Orthotics (P&NO) sales grew by 9% organic, Bracing & Supports (B&S) sales ended flat, while Patient Care delivered 5% organic sales growth in Q4 2025. For FY 2025, Prosthetics & Neuro Orthotics sales grew 10% organic, Bracing & Supports sales declined by 1% while Patient Care sales grew by 1% organic. Growth in 2025 was driven by Prosthetics & Neuro Orthotics, mainly with a strong performance in EMEA and supported by recently launched innovation.
• Gross Profit was USD 158 million and gross profit margin was 62% for both Q4 2025 and FY 2025, compared to 63% in Q4 2024 and FY 2024. The gross profit margin was positively impacted by strong sales in P&NO and efficiency gains in manufacturing but was offset by negative impact from FX, tariffs, and initiatives in Patient Care.
• EBITDA amounted to USD 48 million and EBITDA margin was 19% of sales. In FY 2025, EBITDA margin was 20% on par with FY 2024. The EBITDA margin was negatively impacted by a lower gross profit margin, FX, and initiatives in Patient Care to strengthen growth and profitability.
• Net profit grew by 33% and was USD 25 million and net profit margin was 10% of sales in Q4, compared to 8% of sales in Q4 2024. The FY 2025 net profit growth was 21%.
• Free cash flow (FCF) amounted to USD 42 million, or 16% of sales compared to 15% of sales in Q4 2024. In FY 2025, FCF amounted to USD 100 million or 11% of sales compared to 9% of sales in FY 2024, benefiting from strong operating results and lower CAPEX.
• NIBD/EBITDA before special items was 2.4x at the end of Q4 2025 on par with Q4 2024 and within the target ratio of 2-3x EBITDA.

Other highlights

• Embla Medical earned a place among the world's top 500 companies, pairing strong growth with environmental responsibility. This was the 2^nd consecutive year Embla Medical was highlighted as one of the World's Best Companies in Sustainable Growth.
• In November 2025 announced the opening of its new prosthetic clinic in Kyiv alongside a landmark partnership with the Government of Iceland to launch the "Iceland Supports Mobility in Ukraine" initiative, a three-year program designed to deliver high-quality prosthetic care and rehabilitation to up to 1,000 Ukrainian amputees.

2026 Outlook

• Organic sales growth guidance of 5-8%, driven by strong volume growth in the core business with moderate price increases.
• EBITDA margin guidance of 20-22%*, driven by scale and efficiency coupled with continued focus on cost control in SG&A.

*Potential impact from US trade tariffs continues to be an uncertain element to quantify given the frequent changes in the global tariff environment. Consequently, we deem it too speculative to quantify and guide an exact impact from potential tariffs on Embla Medical's financial results, but some absorption of tariffs is assumed in the guidance.

Q4 and Full Year 2025 Report

The Interim Report for Q4 and full year 2025 is available on following link: Q4 and FY 2025 Report

Conference call details

Embla Medical will host a conference call on February 3, 2026, at 9:00 CET / 7:00 GMT / 3:00 ET.

To actively participate in the telephone conference, please use the dial-in details provided below:

DK: +45 78 76 84 90

UK: +44 20 3769 6819

US: +1 646 787 0157

Participant access code: 274982

The webcast will be available through following link: Embla Medical Q4/FY 2025 webcast

Slides from the Q4/FY 2025 Conference Call is available here: Embla Medical Q4/FY 2025 Conf Call

Updated investor road show presentation

Our updated Q4/FY 2025 investor road show presentation can be downloaded on following link: Embla Medical Roadshow presentation Q4/FY 2025

Further information

Klaus Sindahl, Head of Investor Relations, KSindahl@emblamedical.com, +45 5363 0134

Embla Medical press releases by e-mail

If you wish to receive Embla Medical press releases by e-mail, please register at http://www.emblamedical.com/investors

About Embla Medical

Embla Medical (Nasdaq Copenhagen: EMBLA) is a leading global provider of innovative mobility solutions that help people live a Life Without Limitations®. Embla Medical is home to several leading brands renowned for positively impacting people's health and well-being. They include Össur, a leading global provider of prosthetics and bracing solutions; Fior & Gentz, an innovative developer of neuro orthotics; College Park, a provider of lower limb prosthetics; and ForMotion, a global network of Orthotic and Prosthetic (O&P) patient care facilities. Embla Medical is committed to sustainable business practices, is a signatory to the UN Global Compact and UN Women's Empowerment Principles and contributes to the UN Sustainable Development Goals. The company's climate targets have been verified by the Science Based Targets initiative. Embla Medical operates globally and has around 4,500 employees. www.emblamedical.com