GREENMERC'S INTERIM REPORT FOR THE THIRD QUARTER 2026

Third quarter (1 July – 30 September 2026)

• Trading volume amounted to SEK 83.3 million (SEK 200 million)
• Net sales amounted to SEK 2.72 million (SEK 6.85 million), a decrease of 60%
• Total operating income amounted to SEK 3.70 million (SEK 7.99 million), a decrease of 54%
• Earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to SEK −0.90 million (SEK −4.25 million*), an improvement of SEK 3.34 million
• Operating profit/loss amounted to SEK −3.81 million (SEK −6.77 million)
• Profit/loss after tax amounted to SEK −3.81 million (SEK −6.77 million)
• Cash flow from operating activities amounted to SEK −1.23 million (SEK −5.05 million)
• Cash flow for the period amounted to SEK −0.91 million (SEK 0.40 million)
• Earnings per share amounted to SEK −0.19 (SEK −0.33)
• The number of customers amounted to 78,889 (74,226), of which 987 were added during the quarter**

The period January – September 2026

• Trading volume amounted to SEK 253.6 million (SEK 747 million)
• Net sales amounted to SEK 8.60 million (SEK 21.16 million), a decrease of 59%
• Total operating income amounted to SEK 11.85 million (SEK 24.74 million***), a decrease of 52%
• Earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to SEK −3.86 million (SEK 2.19 million***), a deterioration of SEK 6.05 million
• Operating profit/loss amounted to SEK −12.52 million (SEK −3.96 million***)
• Profit/loss after tax amounted to SEK −12.55 million (SEK −3.91 million)
• Cash flow from operating activities amounted to SEK −4.79 million (SEK 0.75 million)
• Cash flow for the period amounted to SEK −6.05 million (SEK 1.53 million)
• Earnings per share amounted to SEK −0.62 (SEK −0.20)
• The number of customers amounted to 78,889 (74,226)

Figures in brackets refer to the same period of the previous year.

* The third quarter of 2025 was affected by an item affecting comparability of SEK 7.3 million related to the IT incident communicated on 31 July 2025. Excluding this item, EBITDA amounted to SEK 3.06 million. The comparative cash flow figures for 2025 have been corrected; see the section Correction of and disclosure regarding previously published information in the interim report.
** From this report onwards, the number of new customers is reported according to a changed definition and therefore has no comparative figures. Comparative figures will be reported from the fourth quarter of 2026.
*** Restated: realised gains on crypto assets of SEK 979 thousand have been reclassified from financial items to other operating income, in accordance with the 2025 annual report.

Significant events during the third quarter

• 24 August – Bitcoinpodden, produced by Trijo News, the news site of the subsidiary Trijo, welcomed Sweden's Minister for Financial Markets Niklas Wykman (M) as a guest.
• 16 September – The Board approved that the subsidiary Ijort Invest AB withdraws its appeal against the Swedish Financial Supervisory Authority's decision regarding authorisation under MiCA, and the Group established its long-term regulatory direction. The Group's crypto business is conducted under Northcrypto Oy's Finnish MiCA authorisation.
• 29 September – In response to questions from NGM, the company provided a clarification regarding the 2025 year-end report and a correction of the Group's 2025 cash flow statement. See the section Correction of and disclosure regarding previously published information in the interim report.
• 30 September – The company implemented a cost-saving programme expected to reduce the Group's running costs by approximately SEK 400 thousand per month, corresponding to approximately SEK 4.8 million on an annual basis. Northcrypto Oy has reported a positive result since July 2026.

Significant events after the end of the quarter

• 16 October – Trijo and Northcrypto launched updated versions of Trijo Pro and Northcrypto Pro for advanced trading, with a new trading view and account overview.
• 28 October – Unauthorised parties gained access to customer data in the subsidiary Northcrypto Oy through a vulnerability in an internal third-party reporting tool that is no longer in use. The encryption keys to the company's wallets were not affected and no customer funds were affected, with the exception of a single unauthorised withdrawal from one customer account as a result of human error. The affected customer is being fully compensated. Affected customers have been informed.

CEO comment

The third quarter was a turning point for GreenMerc. After several years of investment in technology, licences and structure, we now have a group that is built for profitability, and it shows in the numbers. EBITDA has improved in every quarter this year, from SEK −1.70 million in the first quarter to SEK −1.28 million in the second and SEK −0.90 million in the third. In September, EBITDA was positive for the first time in a long while, and our Finnish subsidiary Northcrypto has reported a profit every month since July.

At the same time, the business is growing. Trading volume increased by 11 percent compared with the previous quarter to SEK 83.3 million, and 987 new customers chose us during the quarter. At the end of the quarter, we had 78,889 customers. Net sales amounted to SEK 2.7 million (SEK 6.8 million), with the decrease compared with the same quarter last year mainly due to lower activity in the crypto market. We now see signs that the market has stabilised and that sentiment around bitcoin and crypto is beginning to improve. After the end of the quarter, we also launched updated versions of Trijo Pro and Northcrypto Pro for advanced trading.

During the quarter, we completed the new structure for our crypto business. Trijo's Swedish customers have been moved to Northcrypto, which is authorised under MiCA in Finland and can operate throughout the EU. Against this background, we chose to withdraw Ijort Invest's appeal against the Swedish Financial Supervisory Authority's decision. We now have a clear regulatory direction, with a licensed company for crypto services and a payment institution under the same roof.

We have also implemented a cost-saving programme that is expected to reduce the Group's running costs by approximately SEK 4.8 million per year. Operating costs have already decreased from SEK 5.9 million in the first quarter to SEK 4.6 million in the third, and the full effect will be reached from the fourth quarter. With lower costs and a profitable crypto business in Northcrypto, we are well positioned for the next phase.

And the next phase is exciting. With Trijo One and the banking services from Marginalen Bank, we are taking the next step towards bringing together your salary, card, savings and digital assets in one place. The launch will take place once Marginalen Bank's new platform is in place, and we expect to launch the first phase at the end of the first quarter or the beginning of the second quarter of 2027. Together with GreenMerc Finance, we are building the banking experience of the future, where traditional finance and digital assets meet.

I would like to thank our employees, customers and shareholders for their trust. The foundation has been laid, and now we continue to build.

Kind regards,
Ari Liukko
Chief Executive Officer
GreenMerc AB (publ)

The full report is available at http://www.greenmerc.com and as an attachment to this press release.

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 above, on 6 November 2026 at 08:30 CET.