GreenMerc

Summary of the second quarter, 1 April – 30 June 2026

• Trading volume amounted to MSEK 75.3 (MSEK 149.0)
• Net sales for the period amounted to MSEK 2.83 (MSEK 5.55), which is a decrease of 49 % compared with the corresponding period of the previous year
• Gross profit amounted to MSEK 3.94 (MSEK 6.20), which is a decrease of 36 % compared with the corresponding period of the previous year
• Operating profit before depreciation, amortisation and impairment (EBITDA) amounted to MSEK –1.28 (MSEK 1.13) compared with the corresponding period of the previous year
• Operating profit/loss amounted to MSEK –4.16 (MSEK –0.81)
• Profit/loss after tax amounted to MSEK –4.14 (MSEK 0.19)
• Cash flow from operating activities amounted to MSEK –2.60 (MSEK 0.77)
• Cash flow for the period amounted to MSEK –2.45 (MSEK –1.92)
• Earnings per share amounted to SEK –0.20 (SEK 0.01)
• The number of customers amounted to 77 902 (65 794), of which 773 (1 875) were added during the quarter

The period 1 January – 30 June 2026

• Net sales for the period amounted to MSEK 5.89 (MSEK 14.31), which is a decrease of 59 % compared with the corresponding period of the previous year
• Gross profit amounted to MSEK 8.15 (MSEK 15.77), which is a decrease of 48 % compared with the corresponding period of the previous year
• Operating profit before depreciation, amortisation and impairment (EBITDA) amounted to MSEK –2.96 (MSEK 5.46) compared with the corresponding period of the previous year
• Operating profit/loss amounted to MSEK –8.71 (MSEK 1.96)
• Profit/loss after tax amounted to MSEK –8.74 (MSEK 3.00)
• Cash flow from operating activities amounted to MSEK –4.26 (MSEK 5.67)
• Cash flow for the period amounted to MSEK –5.14 (MSEK 1.86)

Significant events during the second quarter

• Ijort Invest AB, which owns and operates Trijo, entered into a strategic partnership agreement with Marginalen Bank regarding integrated banking services. Trijo will thereby become the first company in Sweden to launch an integrated solution in which crypto trading is combined with a bank account, bank card, Swish and the state deposit guarantee
• Finansinspektionen rejected Ijort Invest AB's application for authorisation as a crypto-asset service provider under MiCA. The decision has been appealed to the Administrative Court.
• Northcrypto Oy was approved for additional services under MiCA by the Finnish Financial Supervisory Authority (FIN-FSA).
• Northcrypto Oy was granted authorisation as a payment institution by FIN-FSA, which enables payment services relating to e-money tokens (EMT).
• Trijo's Swedish customers were migrated to Northcrypto Oy, whose Finnish MiCA authorisation has been passported to Sweden. The operations in Sweden are thereby conducted on a cross-border basis within the framework of the Group's existing authorisation.

Significant events after the end of the quarter

• In July, Northcrypto opened a Swedish branch, Northcrypto Sverige filial. The agreement with Marginalen Bank regarding integrated banking services will be transferred to Northcrypto's Swedish branch.

CEO's comment

After several years of extensive investment in technology, authorisations and product development, we can now conclude that the most investment-intensive phase is behind us. The focus is now shifting to launch, commercialisation and growth.

Developments during the second quarter show that the work carried out is beginning to deliver results. More than 1 000 people have registered their interest in Trijo One, GreenMerc Finance has completed its first share issue, and the Group has built a regulatory platform that gives us a strong position in the Nordic market.

Strong interest in Trijo One

In May, together with Marginalen Bank, we presented the quarter's strategically most important news: Trijo One.

Trijo will be the first company in Sweden to present an integrated solution in which trading in crypto-assets is combined with a bank account, bank card, Swish and the state deposit guarantee in a single, cohesive service.

Interest has been considerable. Since pre-registration opened, more than 1 000 people have signed up to be able to open an account in connection with the launch. This is a clear sign that the offering meets a concrete customer need.

The service is being developed on Marginalen Bank's platform for integrated banking services and is central to our long-term direction: to bring together digital assets and traditional financial services.

GreenMerc Finance completed its first share issue

GreenMerc Finance, the Group's crowdfunding operations led by Jonas Persson, completed its first share issue during the quarter. Through the issue, Main Compliance Group raised MSEK 5 from investors via the platform.

The fact that the business has moved from launch to a completed capital raise within a single quarter demonstrates both the functionality of the platform and the organisation's ability to execute transactions.

As in the previous report, I wish to make clear that I am a board member and a major shareholder in Main Compliance Group. The company, previously named ServiceLine24, was a subsidiary of GreenMerc and was distributed to GreenMerc's shareholders through a Lex ASEA procedure.

GreenMerc has no operational connection to Main Compliance Group. The issue was carried out in accordance with the platform's ordinary processes and terms.

During the third quarter, GreenMerc Finance plans to broaden its offering by also intermediating loans via the platform. This means that the business will gain a further scalable revenue stream alongside share issues.

The regulatory platform demonstrated its value

During the quarter we also received clear confirmation of the value of the investments made in the Group's regulatory infrastructure.

In June, Finansinspektionen rejected Ijort Invest AB's application for authorisation as a crypto-asset service provider under MiCA. We do not share the authority's assessment and have appealed the decision to the Administrative Court.

Through Northcrypto's Finnish MiCA authorisation and its right to conduct cross-border operations within the EU, we were able to ensure that our Swedish customers continue to be able to trade via Trijo. The Swedish operations are now conducted within the framework of the Group's existing MiCA authorisation.

A situation that could have had very serious consequences for a standalone operator could therefore be managed through a controlled restructuring within the Group.

The regulatory platform was further strengthened during the quarter. Northcrypto was granted authorisation as a payment institution by the Finnish Financial Supervisory Authority, FIN-FSA. The authorisation creates opportunities to offer payment services linked to e-money tokens. Northcrypto was also approved for additional services under MiCA.

The Group therefore holds authorisation as a crypto-asset service provider, authorisation as a payment institution and the ability to conduct cross-border operations within the EU. This forms the basis for the services now being prepared for launch.

Financial development

The quarter's financial development was affected by a continued subdued market for crypto-assets. On 30 June, Bitcoin traded at around USD 59 000. The low volatility contributed to dampened trading activity across the industry as a whole.

Earnings were also burdened by non-recurring costs in connection with the MiCA process and the restructuring of the Swedish operations.

Taken together, this means that the quarter's results do not provide a complete picture of the Group's long-term earnings capacity.

Reducing the dependence on trading revenue is a central part of the Group's strategy. Through crowdfunding, payment services and integrated banking services, we are gradually broadening our revenue streams and reducing the sensitivity of our results to fluctuations in the crypto-asset market.

In parallel, we are working to increase activity among existing customers by bringing more services onto the same platform. Trijo One is the clearest example of this direction.

As the investment phase is concluded, non-recurring costs decline and the new services begin to generate revenue, the conditions for the Group's financial development will improve.

Outlook

The third quarter will be characterised by preparations ahead of several important launches. Trijo One is approaching launch with a large number of pre-registered customers, while GreenMerc Finance plans to broaden its offering with loans.

Our ways of working, in which artificial intelligence is integrated into the organisation's development processes, also contribute to higher efficiency and shorter development times.

The crypto-asset market has historically developed in distinct cycles. Operators that have used periods of lower activity to invest in technology, authorisations and products have often been well positioned when market activity has recovered.

That is the position we have worked to build.

In closing, I would like to thank our shareholders and customers for your continued confidence. The most important investments have been made, the regulatory and technical platform is in place, and several new services are approaching launch.

We are now entering the next phase of GreenMerc's development.

Yours sincerely, Ari Liukko Chief Executive Officer GreenMerc AB (publ)

The report is available in its entirety at www.greenmerc.com and as an attachment to this press release.

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This information is information that GreenMerc AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, on 7 August 2026 at 08:30 CEST.