Interim Report April – June 2026 for Argo Defence Group

FINANCIAL SUMMARY
» Increased growth – Net sales increased by 459% to SEK 69.9 million (12.5)
» Solid order backlog – The order backlog increased by 52% to SEK 69.7 million (45.8)
» Positive profitability trend – EBITDA amounted to SEK 6.0 million (4.3)
» Total framework agreement value of SEK 867 million, of which SEK 564 million remains under existing framework agreements

The Group April – June 2026
» Net sales amounted to SEK 69,890 thousand (12,505)
» EBITDA amounted to SEK 6,010 thousand (4,291), corresponding to a margin of 8.6% (34.3%)
» EBITA amounted to SEK 5,374 thousand, corresponding to a margin of 7.7%
» Operating profit amounted to SEK 360 thousand (2,730)
» Profit for the period amounted to SEK -1,125 thousand
» Earnings per share amounted to SEK -0.05
» Order intake amounted to SEK 29,488 thousand (37,890) and the order backlog to SEK 69,656 thousand (45,780)

The Group January – June 2026
» Net sales amounted to SEK 115,535 thousand (12,505)
» EBITDA amounted to SEK 16,167 thousand (4,291), corresponding to a margin of 14.0% (34.3%)
» EBITA amounted to SEK 15,437 thousand, corresponding to a margin of 13.4%
» Operating profit amounted to SEK 5,937 thousand (2,730)
» Profit for the period amounted to SEK 3,544 thousand
» Earnings per share amounted to SEK 0.17
» Order intake amounted to SEK 119,820 thousand (37,890) and the order backlog to SEK 69,656 thousand (45,780)

*Argo Defence Group AB (publ) was incorporated on 29 April 2025 and the Group's first acquisition was completed in June 2025. Further companies were acquired in December 2025 and in March 2026. The 2025 comparative figures therefore include those operations only from their respective acquisition dates and cover a smaller group than in 2026. The figures are therefore not fully comparable. The Group's first financial year covered 29 April–31 December 2025.

SIGNIFICANT EVENTS
The quarter April – June 2026
» First delivery of customised containers to the Swedish Armed Forces under the Group's largest framework agreement completed and approved.

Events after the End of the Period
» No significant events after the end of the period.

COMMENTS FROM THE CEO MARCUS SELME
A quarter of significant project deliveries, high activity and long-term investments

Results for the quarter
The second quarter of 2026 has been characterised by fifteen parallel project deliveries and a high level of operational activity, above all within the Defence Materiel business area. It is satisfying to see how our organisation handles a broad and complex flow of deliveries – which testifies to the strong capacity within the companies. Net sales for the quarter amounted to SEK 69.9 million, driven above all by increased call-offs under our framework agreements with FMV and the Swedish Armed Forces – a sign that customers are using the agreements actively and that confidence in our delivery capability is high.

EBITDA for the quarter amounted to SEK 6.0 million, a result we are not fully satisfied with. The prevailing global situation has led to higher freight prices than estimated and has thereby affected costs in our delivery projects. We manage this on an ongoing basis and see it as part of the operational reality of working in a geopolitically active market.

Order intake amounted to SEK 29.5 million during the quarter and the order backlog stood at SEK 69.7 million at the end of the period, consisting predominantly of planned deliveries to the Swedish Armed Forces within Defence Materiel during Q3–Q4 2026. The majority of the deliveries consist of products and systems specially developed for FMV and the Swedish Armed Forces. The total value of the Group's ongoing framework agreements amounts to approximately SEK 867 million, of which a remaining value of approximately SEK 564 million gives us a stable and predictable revenue base extending into the coming years.

In parallel with ongoing deliveries, we maintain a high level of activity within defence procurement. Several tenders are under evaluation and we expect decisions during the autumn. By their nature, these procurements are extensive and complex with long lead times – something that is characteristic of the market in which we operate.

Long-term investments and increased demand
The Defence Materiel business area is now taking its first steps into the international market - driven by demand we see from armed forces in Germany and northern Europe – within the two product segments where we have a competitive offering: customised container solutions and radio link antennas. The expansion is managed within the existing organisation and in cooperation with local partners, which enables resource-efficient internationalisation without us having to expand the organisation. Cooperation agreements have been signed between Swedish Net Air & Defence and a number of foreign suppliers.

Within the Counter-Explosive Risk Solutions business area, Poseidon Diving Systems is developing a new product portfolio – diving systems adapted exclusively for military use – an opportunity we identified in connection with the acquisition and which is now taking shape. The work is already attracting concrete interest from several defence customers, both Swedish and international, which confirms the relevance of the offering we are building. Within the same business area we have also broadened the product portfolio within high-technology defence and established a unique position as a link between Swedish and Ukrainian defence technology. New reseller agreements were signed during the quarter, strengthening our ability to reach new markets and customers.

The Airfield Operations business area reports an active quarter with maintenance work at major Swedish airports and product deliveries to international customers. Activity continues into Q3, which is the business area's most delivery-intensive period.

Overall, Q2 lays an important foundation. Deliveries are running, the organisation is active, and the investments we are making now are shaping the conditions for the Group's development during the remainder of 2026 and into 2027.

I would like to extend warm thanks to our employees, who during an intensive quarter have continued to deliver with high quality and commitment, and to our customers and shareholders for the confidence they place in us.

Stockholm, August 2026 Marcus Selme, President & CEO Argo Defence Group AB (publ)

Updated financial calender
Argo Defence Group announces that the publication of the interim report for the third quarter of 2026 has been rescheduled from 21 October 2026 to 12 November 2026.

The full report attached to this press release is also available for download on the company’s website: https://argodefence.se/investor-relations/financial-reports/