===== SIDA 1 ===== CellaVision Interim Report January–March 2026Q1 Softer quarter due to lower sales in EMEA Organic sales growth: Q1, 2026: -6.6% (+14.1) EBITDA margin: Q1, 2026: 24% (34) January 1st – Mars 31st, 2026 Net sales decreased by 14.6% (+14.6) to SEK 166 m (195). Sales decreased organically by 6.6% (+14.1), currency effect -7.9% (+0.5). EBITDA amounted to SEK 40 m (66). EBITDA margin amounted to 24% (34). Profit before tax amounted to SEK 28 m (53). Earnings per share before and after dilution amounted to SEK 0.94 (1.74). Cash flow from operating activities increased to SEK 62 m (61). Jan-Mar Jan-Dec R12 (MSEK) 2026 2025 2025 2025/2026 Net sales 166 195 759 731 Gross profit 114 137 520 497 EBITDA 40 66 241 215 EBITDA margin, % 24 34 32 29 Profit before tax 28 53 194 170 Earnings per share before and after dilution 0.94 1.74 6.42 5.62 Cash flow from operating activities 62 61 201 202 Total cash flow 42 37 40 45 Equity ratio, % 81 80 81 81 ===== SIDA 2 ===== - 2 - CEO’s Comment CellaVision started the year with an unforeseen inventory adjustment from our main distribution partner in EMEA. This resulted in significant negative growth up against a tough comparative quarter last year and may also affect the second quarter. Americas continued its strong momentum showing double- digit organic growth and APAC showed positive development compared to the corresponding quarter last year. We see that the demand for digital cell morphology solutions remains strong and continues to grow over time. Therefore, we maintain a confident but measured outlook on our ability to drive growth and deliver long-term value across all our markets. Our business is inherently subject to quarterly fluctuations, primarily driven by order-based sales through our partners. These are typically followed by a time lag before full system installation is completed at laboratories. The First Quarter in Brief Net sales for the Group reached SEK 166 m (195), representing -7 percent organic growth compared to the same quarter last year. EBITDA amounted to SEK 40 m (66), corresponding to an EBITDA margin of 24 percent (34), and the gross margin amounted to 68 percent (70). Cash flow from operating activities was strong, supported by favorable changes in working capital. It increased to SEK 62 m (61), contributing to a total cash flow of SEK 42 m (37) for the quarter. Our financial position remains robust. Sales in the Americas increased by 2 percent, reaching SEK 79 m (78), compared to the corresponding quarter of 2025. Adjusted for negative currency effects of 12 percent, sales increased organically by 13 percent. The strong performance was driven by continued demand for large instruments and the sustained adoption of our automated digital morphology solutions among larger laboratories. At the same time, sales of smaller instruments declined because of high inventory levels from 2025. In EMEA, sales decreased by 32 percent to SEK 65 m (96), compared to a strong first quarter of 2025. Adjusted for negative currency effects of 6 percent, sales decreased organically by 26 percent. The decline is mainly related to temporary reduction in excessive inventory levels at our largest regional distribution partner, which significantly impacted on the order intake. Further, some tender delays appear in certain European countries because of budget considerations within public healthcare. Reagent sales demonstrated a consistent performance and were on par with the corresponding quarter last year. Sales in APAC increased by 4 percent to SEK 22 m (21), compared to the corresponding quarter of the previous year. Adjusted for negative currency effects of 5 percent, sales increased organically by 10 percent. The overall growth and underlying demand remained positive, supported by improvements in product mix and market presence. South Asia Pacific continued to deliver stable performance with sustained traction in key markets such as Thailand and Australia. The reagent business in APAC increased more than twofold compared to the corresponding quarter last year. Progress on Strategic Direction The quarter has seen significant progress in executing on our strategic priorities within research and development, as CellaVision continues to strengthen its position as a trusted partner and a long- term innovator in advanced digital cell morphology and microscopy. Key milestones achieved during the period include: On March 11, the new CellaVision® Bone Marrow Aspirate (BMA) Application was launched in EMEA after having obtained its CE mark at the end of 2025. CellaVision is now extending its digital cell morphology platform into bone marrow aspirate analysis. The BMA Application provides laboratories with a reliable and advanced solution for automating, standardizing, and simplifying the morphological analysis of bone marrow aspirates. Following the joint launch activities with Sysmex Corporation in EMEA, initial market reactions, albeit being in the early phase have been very positive. We expect that revenue related to the BMA Application will pick up in the second half of the year. CellaVision also submitted the BMA Application to the FDA, with the aim of obtaining 510(k) clearance to commercialize the product in the U.S. In addition, the upgraded software version for CellaVision’s hematology instruments was launched globally, introducing a more modern, user-friendly interface with enhanced functionalities designed to improve laboratory workflows. For newer DI-60 systems, the upgrade also strengthens integration with the Sysmex SP-50™ smearing and staining device and delivers a significant speed improvement. The development of Fourier Ptychographic Microscopy (FPM) continues to progress well, supporting the next generation of hematology solutions and reinforcing our position in advanced diagnostics. Furthermore, evaluations support our belief and pave the way for CellaVision to enter adjacent fields such as pathology and cytology, where FPM shows clear potential compared to conventional technologies. Finally, I would like to extend my sincere appreciation to our employees, partners, and stakeholders for your continued commitment, trust, and support. Together, we drive innovation and create lasting value by advancing the digital transformation of microscopy in hematology laboratories worldwide. Simon Østergaard, President and CEO ===== SIDA 3 ===== - 3 - Sales, Earnings and Investments Net Sales and Currency Effects Net sales for the first quarter decreased to SEK 166 m (195), a decrease of 15 percent compared to the corresponding quarter last year. CellaVision invoices most of the sales in Euros and US dollars, which means that exchange rate fluctuations have an impact on the company’s net sales and earnings. Net sales in the Americas are roughly evenly split between Euros and US dollars, whereas Euro is the predominant currency for net sales in both EMEA and APAC. Adjusted for negative currency effects of 8 percent, net sales decreased organically by 7 percent compared to the corresponding quarter in 2025. Gross Profit and Gross Margin Gross profit for the first quarter decreased by 17 percent to SEK 114 m (137), corresponding to a gross margin of 68 percent (70). The gross margin is influenced by factors such as purchase prices for materials and components, sales mix, amortization of capitalized development expenses, inventory adjustments, and currency effects. As a result of the launches of the CellaVision® Bone Marrow Aspirate (BMA) Application and the upgraded Digital Cell Morphology Software, amortization of capitalized development expenses increased from the corresponding quarter last year and amounted to SEK 3 m (2). Operating Expenses Operating expenses for the first quarter increased by 7 percent to SEK 85 m (80), compared to the same quarter last year. Sales and marketing expenses as well as administration expenses have been kept on same levels as last year. CellaVision continues to invest in research and development in alignment with its long-term product development strategy. Total research and development expenses before capitalization amounted to SEK 41 million (43) in the first quarter. Capitalized expenses related to development projects decreased to SEK 12 million (18), primarily driven by lower level of expenditures and reduced hardware purchases compared to the same quarter last year. This situation reflects the normal fluctuations throughout different maturity stages of ongoing projects. Currently, a larger proportion of the development organization is working on early- stage projects. As a result, research and development costs increased in the first quarter to SEK 30 million (25). EBITDA and EBITDA Margin EBITDA for the first quarter decreased to SEK 40 m (66), corresponding to an EBITDA margin of 24 percent (34). EBITDA was primarily impacted by reduced net sales, which resulted in a lower gross profit, as well as a decrease in the capitalization of development expenses. Net Financial Items As of Mars 31st, 2026, interest-bearing liabilities in the form of bank loans amounted to SEK 3 m (5). Interest expenses related to bank loans for the first quarter were also below SEK 100 k, like the same quarter last year. Sales per quarter and rolling 12 months EBITDA per quarter and EBITDA margin rolling 12 months ===== SIDA 4 ===== - 4 - Investments CellaVision continuously capitalizes expenses related to product development. During the quarter, capitalized development expenses amounted to SEK 12 m (18). The lower capitalization is mainly attributable to lower expenditure levels and reduced hardware purchases compared with the corresponding quarter last year. The majority of the capitalized expenses relate to the development of instruments and software applications. Cash Flow At the end of the quarter, cash and cash equivalents increased to SEK 230 m (182). In addition, CellaVision has an unutilized overdraft facility of SEK 30 m (30). Cash flow from operating activities increased to SEK 62 m (61) in the first quarter of 2026. The decreased accounts receivable, as a result of lower sales, contributed positively to cash flow. Cash flow from investing activities for the quarter amounted to SEK -17 m (-21) and was, as in the corresponding period last year, mainly related to capitalized expenses for research and development. Cash flow from financing activities for the quarter amounted to SEK -4 m (-3). The total cash flow for the quarter amounted to SEK 42 m (37). Parent Company Apart from the manufacturing of reagents, the group is in all material aspects represented by the operations in the parent company. The comments on the Group’s result and financial position also refer to the parent company. Net sales for the first quarter decreased by 18 percent to SEK 123 m (149). Gross profit amounted to SEK 95 m (117). Research and development costs amounted to SEK 39 m (41), with capitalization of development costs carried out at Group level. Profit after financial items amounted to SEK 16 m (32). No significant investments were made in non-current assets during the quarter. Financial assets primarily related to shares in subsidiaries. At the end of the quarter cash and cash equivalents increased to SEK 210 m (165). The company had no interest-bearing debt. ===== SIDA 5 ===== - 5 - Development in the Geographical Markets Americas: SEK 79 m (78) Sales in the Americas increased by 2 percent, reaching SEK 79 m (78), compared to the corresponding quarter of 2025. Adjusted for negative currency effects of 12 percent, sales increased organically by 13 percent. The strong performance was driven by continued demand for large instruments and reflects sustained adoption of automated digital morphology solutions among larger laboratories. Momentum can be seen particularly within integrated health networks seeking to improve efficiency and throughput. Sales of smaller instruments declined during the quarter, primarily due to elevated inventory levels at a key distribution partner, following precautionary purchases made in 2025 related to tariff uncertainties. To support the development in sales of smaller instruments, additional targeted commercial initiatives have been launched. This included expanded distribution reach, focused marketing activities, and increased investment in customer training, particularly in Latin America and other emerging markets. EMEA: SEK 65 m (96) Sales in the EMEA region decreased by 32 percent to SEK 65 m (96), compared to a strong first quarter of 2025. Adjusted for negative currency effects of 6 percent, sales decreased organically by 26 percent. The decline is mainly related to temporary reduction in excessive inventory levels at our largest distribution partner, which significantly impacted on the order intake and may also affect the second quarter. Also, some tender delays appear in certain European countries because of budget considerations within public healthcare. Despite the decline, the underlying demand for digital morphology solutions remains solid. The growing installed base and continued customer interest provide a stable foundation for future growth. Reagent sales in the region remained consistent and were in line with the corresponding quarter last year. EMEA continues to represent a significant share of the global reagent business. To support a recovery in sales momentum, the company is strengthening collaboration with partner organizations through joint commercial initiatives across key markets. These efforts are further enhanced by the recently launched CellaVision® Bone Marrow Aspirate Application and the upgrade of the Digital Cell Morphology Software to the DI-60 instruments. This is expected to support customer engagement and pipeline development. APAC: SEK 22 m (21) Sales in the APAC region increased by 4 percent to SEK 22 m (21), compared to the corresponding quarter of the previous year. Adjusted for negative currency effects of 5 percent, sales increased organically by 10 percent. The overall growth and underlying demand remained positive, supported by improvements in product mix and market presence. South Asia Pacific continued to deliver stable performance, with sustained traction in key markets such as Thailand and Australia. This reflects continued execution of targeted commercial initiatives and strengthened collaboration with distribution partners. At the same time, the reagents business increased more than twofold compared to the corresponding quarter last year. Growth was observed across multiple sub-regions, including more mature and competitive markets such as Japan and Australia. This reflects our ongoing efforts to position our offering as an integrated workflow solution, increasingly embedded in partners’ value propositions. The situation in the Middle East negatively impacted on reagent sales during the quarter, primarily due to delivery disruptions. Net sales per region, MSEK Net sales per region MSEK Jan-Mar 2026 Jan-Mar 2025 Growth % Jan-Dec 2025 Americas 79 78 2% 301 EMEA 65 96 -32% 350 APAC 22 21 4% 107 Total 166 195 -15% 759 Americas EMEA APAC ===== SIDA 6 ===== - 6 - Our vision is to elevate healthcare through the evolution of microscopy. By devoting considerable resources to research and development, we continue to push the boundaries of innovation and strengthen our leadership in digital cell morphology, thereby improving the quality of care for patients worldwide. On March 11, the CellaVision® Bone Marrow Aspirate (BMA) Application was launched in the EMEA region, extending the company’s digital cell morphology platform to include advanced bone marrow aspirate analysis. The application received CE marking as a Class C product under the European Union In Vitro Diagnostic Regulation (EU IVDR) on December 8, 2025. CellaVision collaborates with Sysmex Corporation as a distribution partner, leveraging strong and well-established relationships with hospitals and reference laboratories across the region. During the quarter, we also submitted the BMA Application to the FDA, with the aim of obtaining 510(k) clearance to commercialize the product in the U.S. Bone marrow aspirate examination is central to the diagnosis and monitoring of blood cancer and other serious blood disorders. The process is typically manual, time-consuming, and highly dependent on specialized expertise. The BMA Application supports laboratories in automating, standardizing, and streamlining morphological assessment through digitalization, and therefore improving consistency and efficiency. In parallel, the upgraded software version for CellaVision’s hematology instruments has been launched globally. The Digital Cell Morphology Software introduces a modern, user-friendly interface and enhanced functionality, designed to improve workflow efficiency in laboratories. For newer DI-60 systems, the upgrade also strengthens integration with Sysmex SP-50™ smearing and staining device and delivers a significant speed improvement. The development of Fourier Ptychographic Microscopy (FPM) continues to progress well, supporting future generations of hematology solutions and reinforcing our leading position in advanced diagnostics. The technology is also being evaluated in adjacent fields such as pathology and cytology, where it shows clear potential compared to conventional methods. Two patented innovations related to staining reagents and their applications expired after 20 years in force. At the same time, additional patents related to FPM were granted, expanding our portfolio’s coverage in this area. At the end of the period, CellaVision’s patent portfolio comprised 24 patented innovations and 122 granted patents. Research and Development ===== SIDA 7 ===== - 7 - Simon Østergaard President and CEO Lund, April 24, 2026 The interim report has not been subject to review by the company’s auditors. The Nomination Committee and Annual General Meeting in 2026 The Nomination Committee’s summarized proposal regarding Board before the Annual General Meeting 2026 The Nomination Committee proposes re-election of the Board members Mikael Worning, Christer Fåhraeus, Ann-Charlotte Jarleryd, Stefan Wolf and Emil Hjalmarsson, and that Zlatko Rihter is elected as new Board member. Louise Armstrong-Denby has declined re-election. The Nomination Committee proposes that the AGM elects Zlatko Rihter as Chairman of the Board. Mikael Worning has declined re-election as Chairman of the Board, but is available to serve as Board member. The Nomination Committee’s proposal and reasoned opinion is available on www.cellavision.com. The Board of Director’s Proposal to repurchase shares The Board of Directors proposes to the Annual General Meeting 2026 to authorize the Board to repurchase the Company’s own shares. The proposal and reasoned opinion of the Board of Directors are available on www.cellavision.com. Annual General Meeting 2026 and Dividend The CellaVision Annual General Meeting 2026 will be held on April 28, 2026 at 15:00 o’clock CEST, at Mobilvägen 12, 223 62 Lund. Voting rights registration opens at 14:30 and will close when the meeting opens. The Board of Directors proposes to the Annual General Meeting 2026 to increase the dividend to SEK 2.75 per share be paid for 2025 (2.50), which is in line with the company’s dividend policy. Annual and Sustainability Report 2025 The CellaVision Annual and Sustainability Report 2025 has been available on www.cellavision.com since April 1, 2026. The Board of Directors through the President/ Chief Executive Officer certify that the interim report provides a true and fair view of the parent company’s and the Group’s business, financial position, performance and describes material risks and uncertainties, to which the parent company and the companies in the group are exposed. Declaration by the Board of Directors and President/CEO ===== SIDA 8 ===== - 8 - Income Statement in Summary and Consolidated Statement of Comprehensive Income, Group Amounts in ‘ 000 SEK Note Jan-Mar 2026 Jan-Mar 2025 Jan-Dec 2025 Net sales 4 166,426 194,802 758,968 Cost of goods sold -52,434 -57,593 -239,091 Gross profit 113,992 137,209 519,877 Sales and marketing expenses -33,310 -33,003 -129,883 Administration expenses -22,506 -22,508 -90,345 R&D expenses -29,677 -24,580 -97,576 Operating profit 8 28,499 57,119 202,073 Interest income and similar profit items 446 610 2,903 Interest expense and similar profit loss items -459 -5,227 -10,712 Profit before tax 28,486 52,501 194,264 Tax -5,981 -10,984 -41,186 Profit for the period 22,505 41,517 153,078 Other comprehensive income: Components not to be reclassified to net profit: Effect on revaluation of pensions 423 187 666 Tax effect on revaluation of pensions -106 -47 -166 Sum of Components not to be reclassified to net profit: 317 141 500 Components to be reclassified to net profit: Translation difference Translation difference in the group 3,854 -18,851 -22,098 Sum of Components to be reclassified to net profit: 3,854 -18,851 -22,098 Sum of other comprehensive income 4,171 -18,710 -21,598 Comprehensive result for the period 26,676 22,807 131,480 ===== SIDA 9 ===== - 9 - Per Share Data Quarterly Earnings Trend Per share data Jan-Mar 2026 Jan-Mar 2025 Jan-Dec 2025 Earnings per share, before and after dilution, SEK */ 0.94 1.74 6.42 Equity per share, SEK 38.33 35.16 37.21 Number of shares outstanding 23,851,547 23,851,547 23,851,547 Average number of shares outstanding 23,851,547 23,851,547 23,851,547 Closing date stock price, SEK 153.60 167.00 157.20 Dividend per share, SEK - - 2.50 */ Based on the profit/loss for the period divided by the average number of shares in issue Amounts in ‘ 000 SEK Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Net sales 166,426 197,205 175,633 191,328 194,802 186,688 Gross profit 113,992 131,795 121,301 129,572 137,209 129,171 Gross margin, % 68 67 69 68 70 69 Expenses -85,493 -76,693 -81,758 -79,262 -80,090 -77,821 EBITDA 39,918 65,457 49,822 59,645 66,457 60,942 EBITDA margin, % 24 33 28 31 34 33 Net profit 22,505 42,613 31,338 37,610 41,517 40,940 Cash flow from operating activities 62,433 51,428 29,626 58,052 61,426 45,993 Total cash flow 41,878 29,842 3,629 -30,446 36,749 11,263 ===== SIDA 10 ===== - 10 - Balance Sheet in Summary, Group Amounts in ' 000 SEK Note 03/31/2026 03/31/2025 12/31/2025 ASSETS Non-current assets Intangible assets 5 538,181 490,783 528,877 Tangible assets 6 122,345 112,307 122,374 Financial assets 7 2,550 2,460 2,544 Total non-current assets 663,076 605,550 653,794 Current assets Inventory 122,057 119,362 111,808 Trade receivables 7 91,478 116,135 120,333 Other receivables 7 27,949 20,505 20,736 Cash and cash equivalents 7 230,221 182,317 188,216 Total current assets 471,705 438,319 441,094 TOTAL ASSETS 1,134,781 1,043,869 1,094,888 EQUITY AND LIABILITIES Equity 914,254 838,533 887,578 Non-current liabilities Deferred tax liability 80,699 71,350 79,313 Other provisions 5,410 6,053 5,099 Long-term debt, interest-bearing 10,359 9,050 11,971 Total non-current liabilities 96,468 86,453 96,384 Current liabilities Short-term debt, interest-bearing 12,071 13,907 13,680 Short-term debt, non interest-bearing 7 70,396 61,850 60,547 Trade payables 7 40,736 41,816 35,731 Warranty provisions 856 1,310 969 Total current liabilities 124,059 118,883 110,926 TOTAL EQUITY AND LIABILITIES 1,134,781 1,043,869 1,094,888 ===== SIDA 11 ===== - 11 - Amounts in ' 000 SEK 03/31/2026 03/31/2025 12/31/2025 Balance at the beginning of the year 887,578 815,726 815,727 Dividend - - -59,629 Profit for the period 22,505 41,517 153,078 Other comprehensive income for the period 4,171 -18,710 -21,598 Closing balance 914,254 838,533 887,578 Consolidated Statement of Changes in Equity, Group ===== SIDA 12 ===== - 12 - Cash Flow Statement in Summary, Group Amounts in ‘ 000 SEK Jan-Mar 2026 Jan-Mar 2025 Jan-Dec 2025 Result before taxes 28,486 52,501 194,264 Adjustment for items not included in cash flow 16,450 14,266 40,837 Income tax paid -4,594 -8,919 -31,383 Cash flow from operating activities before changes in working capital 40,342 57,848 203,718 Changes in working capital 22,091 3,578 -3,186 Cash flow from operating activities 62,433 61,426 200,532 Capitalization of development costs -11,654 -18,090 -67,464 Acquisitions/divestment of tangible assets -4,861 -3,294 -18,808 Acquisitions/divestment of financial assets - 192 109 Cash flow from investing activities -16,515 -21,192 -86,163 Amortization of loans -413 -395 -1,598 Amortization of leasing debts -3,627 -3,090 -13,368 Dividend paid - - -59,629 Cash flow from financing activities -4,040 -3,485 -74,595 Total cash flow 41,878 36,749 39,774 Cash and cash equivalents at beginning of period 188,216 149,430 149,430 Exchange rate fluctuations in liquid funds 128 -3,862 -988 Cash and cash equivalents at end of period 230,221 182,317 188,216 Disclosures regarding interest expenses: Interest expenses for Jan-Mar 2026 amount to SEK 182 k (205) whereof SEK 128 k (100) is attributable to leasing in accordance with IFRS 16. ===== SIDA 13 ===== - 13 - Income Statement in Summary and Consolidated Statement of Comprehensive Income, Parent Company Amounts in ‘ 000 SEK Jan-Mar 2026 Jan-Mar 2025 Jan-Dec 2025 Net sales 122,515 148,899 583,505 Cost of goods sold -27,849 -31,741 -138,243 Gross profit 94,666 117,158 445,262 Sales and marketing expenses -21,651 -21,319 -87,185 Administration expenses -18,093 -18,574 -74,776 R&D expenses -39,247 -40,938 -158,185 Operating profit 15,675 36,327 125,116 Interest income and financial exchange gains 444 235 4,217 Interest expense and financial exchange losses -261 -4,976 -9,699 Profit before income tax 15,858 31,586 119,634 Taxes -3,381 -6,587 -24,894 Net profit 12,477 24,999 94,740 Statement of Comprehensive Income, Parent Company Jan-Mar 2026 Jan-mar 2025 Jan-Dec 2025 Net profit for the period 12,477 24,999 94,740 Other comprehensive income - - - Comprehensive profit for the period 12,477 24,999 94,740 ===== SIDA 14 ===== - 14 - Balance Sheet in Summary, Parent Company Amounts in ' 000 SEK 03/31/2026 03/31/2025 12/31/2025 ASSETS Non-current assets Intangible assets 23,205 26,196 23,953 Tangible assets 14,005 7,192 12,725 Deferred tax assets 532 755 532 Long term receivables from group companies 25,169 29,292 25,963 Financial assets 261,426 261,220 261,426 Total non-current assets 324,337 324,655 324,599 Current assets Inventory 76,159 79,493 68,497 Trade receivables 63,954 86,088 96,404 Receivables from group companies 5,435 4,903 4,327 Other receivables 24,784 16,190 18,498 Cash and cash equivalents 209,996 165,452 170,333 Total current assets 380,328 352,126 358,059 TOTAL ASSETS 704,665 676,781 682,658 EQUITY AND LIABILITIES Equity 602,530 579,940 590,052 Non-current liabilities Other provisions 1,713 1,400 1,611 Total non-current liabilities 1,713 1,400 1,611 Current liabilities Short-term debt, non interest-bearing 47,730 43,324 41,468 Trade payables 27,701 28,205 25,840 Liabilities to group companies 24,135 22,602 22,718 Warranty provisions 856 1,310 969 Total current liabilities 100,422 95,441 90,995 TOTAL EQUITY AND LIABILITIES 704,665 676,781 682,658 ===== SIDA 15 ===== - 15 - NOTE 1. ACCOUNTING POLICIES The Group applies IFRS Accounting Standards, as adopted by the EU. This interim report has been prepared in accordance with IAS 34 Interim Financial Reporting, the Annual Accounts Act and the Nasdaq Stockholm Rule Book for Issuers. Disclosures in accordance with IAS 34 p. 16A appears not only in the financial statements and their accompanying notes but also in other parts of the interim report. The parent company applies the Annual Accounts Act and the Swedish Financial Reporting Board recommendation RFR 2 Accounting for Legal Entities. The accounting policies and calculation methods applied are consistent with those described in the Annual and Sustainability Report for 2025. NOTE 2. SEGMENT REPORTING CellaVision’s operations comprise only one operating segment: automated microscopy systems and reagents in the field of hematology. Therefore, references are made to the Group’s consolidated income statement and balance sheet regarding operating segment reporting. NOTE 3. RISKS AND UNCERTAINTIES CellaVision is exposed to several risks, which may impact the Group’s development to a greater or lesser extent. Reduced demand, currency fluctuations and production disruptions are both risks and uncertainties to varying degrees. For a more detailed description of the risks and uncertainties facing CellaVision, please refer to the risk analysis on pages 56-59 and Note A2 and A5 in the Annual and Sustainability Report for 2025. Notes NOTE 4. ALLOCATION OF SALES Jan-Mar 2026 Jan-Mar 2025 Amounts in ‘ 000 SEK Instruments Reagents Software & Other Total Instruments Reagents Software & Other Total Americas 55,598 558 22,944 79,100 49,126 997 27,630 77,753 EMEA 15,335 34,425 15,283 65,043 47,508 35,325 12,882 95,715 APAC 15,082 3,879 3,322 22,283 18,239 1,422 1,673 21,334 Total 86,015 38,862 41,549 166,426 114,873 37,744 42,185 194,802 Other refers to spare parts and consumables. ===== SIDA 16 ===== - 16 - NOTE 9. SIGNIFICANT EVENTS AFTER THE PERIOD CLOSE No significant events have occurred after the period close. Notes, Cont’d NOTE 7. FINANCIAL ASSETS AND LIABILITIES The disclosed value of financial assets, trade receivables, other receivables, cash and bank, trade payables, and other short-term liabilities constitutes a reasonable approximation of fair value. NOTE 8. EMPLOYEES Average number of employees Jan-Mar 2026 Jan-Mar 2025 Permanent employees 241 228 Temporary employees 12 12 Total 253 240 The average number of employees is calculated as an average of the number of full-time positions at the beginning and end of the period. Temporary employees include the equivalent full-time positions employed on fixed-term contracts with a defined end date, this also includes paid interns and apprentices. NOTE 5. INTANGIBLE ASSETS Amounts in ‘ 000 SEK 03/31/2026 03/31/2025 Capitalised expenditure for development 335,981 283,631 Goodwill 122,073 121,025 Trademarks, customer relationships and other intangible assets 80,127 86,126 Total intangible assets 538,181 490,783 NOTE 6. TANGIBLE FIXED ASSETS Amounts in ‘ 000 SEK 03/31/2026 03/31/2025 Right of use assets Land and buildings 18,586 16,481 Machinery, equipment 2,452 2,299 Total right of use assets 21,038 18,780 Tangible fixed assets that are not right of use assets Land and buildings 64,531 64,838 Machinery, equipment 36,776 28,689 Total tangible fixed assets that are not right of use assets 101,307 93,527 Total tangible fixed assets 122,345 112,307 The tangible fixed assets amounted to SEK 122,345 thousand on the balance sheet date. The majority of the right of use assets consists of leases for office premises. For all leases for which the Group is lessee (which are not short term leases or low value assets), the Group recognizes a right of use asset and a lease liability. When valuating the right of use asset, the acquisition method is used, i.e the right of use asset is calculated at acquisition cost, adjusted for any revaluation of the lease liability less depreciation. The right of use asset is reported as a tangible fixed asset, while leasing liability is reported separately in the Group’s statement of financial position as long-term debt, interest-bearing and short-term debt, interest-bearing. ===== SIDA 17 ===== - 17 - The company presents certain financial measures in the interim report which are not defined according to IFRS. The financial metrics are used by the company’s management to evaluate relevant trends, and the company believes that they can provide valuable supplementary information to investors. CellaVision’s definitions of these measures may differ from other companies’ definitions of the same terms. These financial measures should therefore be seen as a supplement rather than as a replacement for measures defined according to IFRS. Definitions of measures which are not defined according to IFRS and which are not mentioned elsewhere in the interim report are presented below. Reconciliation of these measures is shown in the tables to the left. Currency effect. Exchange rate effects on sales growth for the period. EBITDA. Overall financial performance before interest, taxes, depreciation and amortization. EBITDA margin. EBITDA as a percentage of net sales. Equity/assets ratio. Shareholders’ equity including non- controlling interests as a percentage of total assets. Gross margin. Gross profit as a percentage of net sales. Gross profit. Net sales less cost of goods sold. Operating margin. Operating profit (EBIT) as a percentage of net sales for the period. Operating profit (EBIT). Earnings before interest and tax. Reconciliation Tables KPIs, Non-IFRS Measures Net sales Jan-Mar 2026 (%) Jan-Mar 2026 ‘000 SEK Jan-Mar 2025 (%) Jan-Mar 2025 ‘000 SEK Last period 194,802 170,080 Organic growth -6.6% -12,922 14.1% 23,915 Currency effect -7.9% -15,454 0.5% 807 Current period -14.6% 166,426 14.6% 194,802 Equity-asset ratio Amounts in ' 000 SEK 03/31/2026 03/31/2025 Equity 914,254 838,533 Balance sheet total 1,134,781 1,043,869 Equity ratio 81% 80% Gross margin Amounts in ' 000 SEK Jan-Mar 2026 Jan-Mar 2025 Net sales 166,426 194,802 Gross profit 113,992 137,209 Gross margin 68% 70% Operating margin Amounts in ' 000 SEK Jan-Mar 2026 Jan-Mar 2025 Net sales 166,426 194,802 Operating profit 28,499 57,119 Operating margin 17% 29% EBITDA Amounts in ' 000 SEK Jan-Mar 2026 Jan-Mar 2025 Operating profit 28,499 57,119 Amortization/depreciation/write-down 11,419 9,339 EBITDA 39,918 66,457 EBITDA-margin Amounts in ' 000 SEK Jan-Mar 2026 Jan-Mar 2025 Net sales 166,426 194,802 EBITDA 39,918 66,457 EBITDA-margin 24% 34% ===== SIDA 18 ===== - 18 - Financial Calendar 2026 Questions Concerning the Report Publication This information constitutes information that CellaVision AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication on April 24, 2026 at 7:20 a.m. CEST. CellaVision is listed on the Nasdaq Stockholm, Mid Cap list. The company is traded under the ticker symbol CEVI and ISIN code SE0000683484. Conference In connection with the release of the interim report analysts, investors and media are invited to a telephone conference and audio webcast on April 24, 2026 at 11:00 a.m. CEST where Simon Østergaard, President & CEO, will present and comment the report. The presentation will be in English via a conference call or audio webcast: To participate via webcast, use the link below. https://cellavision.events.inderes.com/q1-report-2026 To participate via conference call, register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference. https://events.inderes.com/cellavision/q1-report-2026/dial-in No pre-registration is required. Please dial in 5-10 minutes prior to the scheduled start time to facilitate a timely start. Monica Jönsson CFO Phone: +46 46 460 26 24 monica.jonsson@cellavision.com Simon Østergaard President & CEO Phone: +46 46 460 16 23 simon.ostergaard@cellavision.com Interim Report January-March April 24, 2026 Annual General Meeting 2026 April 28, 2026 Interim Report January-June July 17, 2026 Interim Report January-September October 29, 2026 Year-end Bulletin 2026 February 4, 2027 ===== SIDA 19 ===== - 19 - About us CellaVision is an innovative, global medical technology company that develops and sells its own leading solutions for routine analysis of blood and other body fluids in health care services. These analyses play a vital role in swift and accurate disease diagnoses, particularly in cases of infections and serious cancer diseases. The products replace manual laboratory work, and secure and support effective workflows and skills development within and between hospitals. The company has leading-edge expertise in sample preparation, image analysis, artificial intelligence and automated microscopy. Sales are via global partners with support from the parent company in Lund, Sweden and by the company’s 13 local market support organizations covering more than 40 countries. Our Strategic Ambition: The Power of Focus Our strategic ambition is to digitalize and improve microscopy workflows to provide diagnostic certainty in the medical labs of the world. Our strategy is supported by our organization, processes and culture. The strategy rests on five strategic pillars: 1. Maximize our leading position in large laboratories 2. Accelerate the worldwide adoption of the DC-1 3. Accelerate our global leadership in reagents 4. Expand into specialized microscopy analyses 5. Explore new areas of analytics with innovation Financial Ambition CellaVision’s objective is to create a global standard for digital microscopy. The objective is broken down in two important financial targets: • Sales growth Increase sales over an economic cycle by an average of around 15 percent per year. • Profitability The EBITDA margin is to exceed 30 percent over an economic cycle. Our Sustainability Efforts CellaVision integrates sustainability at the core of its strategy by contributing to improved global healthcare outcomes, responsible innovation, ethical business practices, and fair working conditions. The Sustainability Report 2025 provides a transparent overview of the work underway to advance these priorities. The report is integrated into CellaVision’s Annual Report 2025 and is available on www.cellavision.com. This is CellaVision Small, Mid-sized and Large Labs Speciality Analysis New Areas MAXIMIZE Large Labs ACCELERATE EXPAND EXPLORE 1 2 3 4 5 Små, medelstora och stora laboratorier Specialanalyser Nya områden MAXIMERA Stora laboratorier ACCELERERA EXPANDERA UTFORSKA 1 2 3 4 5 Mission To advance laboratory workflow and diagnostic certainty through intelligent microscopy Our tools for automating cell classification with diagnostic certainty include analyzers, reagents, smearing, staining devices, and software. Vision Elevating healthcare through the evolution of microscopy We provide digital microscopy solutions to make laboratory work easier and more efficient. Because the faster a blood sample can be correctly analyzed, the faster a patient can be diagnosed and treated.