The Council emphasizes that the obligation to work toward the fulfillment of stated conditions is particularly strong when a principal shareholder has given an irrevocable undertaking to accept the offer and, at the end of the acceptance period, it is clear that the shares have not been tendered. According to the Council, at a minimum the bidder should have made direct contact with the principal shareholder or the shareholder's legal counsel to allow the undertaking to be fulfilled.

The Council concludes that the measures taken by the bidder did not meet this requirement and that the bidder's conduct therefore contravened the takeover rules and good market practice. Integrum welcomes the Council's clarification of the application of the takeover rules in these respects. The statement aligns with the assessment that Integrum set out in its press releases of September 17 and 18, 2025, namely that more could and should have been done to satisfy the completion condition, including that the bidder should have contacted the principal shareholder directly or delayed the announcement of the outcome to allow correction of formal errors.

The Board would like to emphasize that the Swedish Securities Council's statement does not change Integrum's operations or financial position. The company continues to pursue its strategy and operational development with undiminished focus.

Integrum AB
The Board of Directors