SUMMARY OF THE REPORT

Second quarter: 01 Apr 2026 to 30 Jun 2026

• Net sales decreased by 4% to KSEK 7,890 (8,231)

• Subscription revenue decreased by 4% to KSEK 6,059 (6,343)

• MRR at the end of June was KUSD 205 (207), a decrease of 1%

• EBITDA was KSEK -882 (-192)

• EBIT was KSEK -2,274 (-1,697)

• EPS before dilution was SEK -0.01 (0.00)

• Cash position was KSEK 7,770 (1,712)

• Adjusted cash position was SEK 9.8m*

* End-of-quarter cash position adjusted for the outstanding LEO capital raise of SEK 0.5m, and for a large client payment and related cost of sales payment of SEK 1.5m net, which were received late in the first days of July.

Year to Date: 01 Jan 2026 to 30 Jun 2026

• Net sales decreased by approximately 3% to KSEK 16,224 (16,683)

• EBITDA was KSEK -916 (150)

• EBIT was KSEK -3,712 (-2,967)

• EPS before dilution was SEK -0.01 (-0.01)

Significant events during the quarter

• Raised SEK 14.6m in new capital before transaction costs through a directed share issue and an oversubscribed rights issue. This includes the SEK 0.5m LEO issue which was approved at the AGM but completed after the quarter. Subsequently, outstanding loans of SEK 5.0m plus interest were repaid, including the SEK 1.0m bridge loan to Levinvest AB.

• Other external costs were materially inflated by indirect fund raising costs and increased platform investments (+ SEK 0.4m in total).

• Agreed a USD 3,000 MRR Enterprise deal with a Swiss-based digital agency, which is now part of a larger strategic discussion.

• The AGM was held on 26 June 2026, adopted the 2025 accounts with no dividend, elected Jon Levin to the Board, approved a 2026/2029 warrant programme, and authorized the LEO capital raise.

Significant events after the quarter

• Completion of SEK 0.5m LEO capital raise including the issue of 8,558,630 B shares.

• The TO5B warrants expired unexercised.

CEO COMMENT

Q2 2026 was the quarter when several long-running efforts came together. Today we are a different Divio than we were in the past. Then we were a platform company addressing a broad market with a broad message. Today we are a focused company with a clearly defined customer, a clearly defined route to market, and a product roadmap built specifically to serve them. That shift has changed what we build, It is now beginning to show in our results.

We are now building an entirely new platform, taking the strongest parts of what we have built over the years and combining them with a new architecture and technology foundation. I want to be direct about the ambition: we are building something cutting edge, with the potential to become the best managed cloud platform on the market. That is what we are building towards, and it is what our partners and customers will ultimately judge us on. We have already begun testing the new platform, and the feedback has been exceptionally good, better than we expected at this stage. We are putting everything we have into accelerating development so that we can move into demos and, from there, to launch. We have also built a genuinely strong engineering team, world-class developers who, with deep AI support in their work, are multiplying what a team of our size can produce. That combination is the reason we believe we can compete with players many times larger than us.

Our agency strategy remains a top priority, but our new platform update is now just as high on the list, if not higher. As sales conversations increasingly hinge on this launch, we have added further resources, aiming for a demo launch already in Q3.

After six months of concentrated work, we closed the complex financing round combined with an equity restructuring and debt repayment, and we are pleased and grateful that it was oversubscribed. This means the company now has no interest-bearing debt remaining. On an adjusted basis - including a large customer payment received in the first days of July and its related cost of sales, plus the remaining SEK 0.5m from the LEO capital round - our cash balance stands at around SEK 10m, giving us the financial strength to execute on our agency strategy.

Because the fundraise ran alongside this accelerated push on our platform launch, this quarter’s costs are not representative of our underlying cost base. Indirect fundraise costs we could not attribute directly to the balance sheet total roughly SEK 0.2m, with a similar amount in extra platform-related consultancy costs. Strip these one-offs out and our real cost base is meaningfully lower than reported.

On the agency side, we work with our 50 partners to increase active usage and the number of projects they add. As activity grows, manual KPI tracking of the agency rollout is no longer sustainable; we are automating reporting within the platform. Under the current measure, this KPI increased from around USD 21,000 at the start of the year to USD 23,000 at quarter-end, reflecting new signings and expired projects. June sales activity was relatively low, reflecting the platform transition and normal seasonality.

Commercially, we agreed a USD 3,000 deal in May, now part of a larger strategic discussion with that agency, and a USD 1,200 deal with a third of the deal rolled out this quarter. We lost one older, direct enterprise client with an MRR of around USD 3,000 as the underlying project was expiring. We are in the middle of renewing and expanding one of our largest enterprise agreements, We have also begun expanding discussions with other large enterprise customers. Very exciting dialogues.

Our priorities are clear: maintain strategic focus, avoid returning to a broad and unfocused approach, and continue investing in the platform work to protect a single quarter. Discipline over the coming quarters is what converts this strategy into results.

In summary, Q2 strengthened Divio on every front: a stronger balance sheet from an oversubscribed fundraise, an accelerated platform investment now central to how we sell, and continued progress across our agency and enterprise relationships. We enter the second half with a stronger balance sheet, growing conviction in our strategy, and a clear target: a platform demo launch in Q3.

Jon Levin - CEO