===== SIDA 1 ===== Annual and Sustainability Report 2025 Year - End Report January – December 2025 ===== SIDA 2 ===== Year - end Report Q4 2025 2 → Overview Comments from the CEO Financial Development Segment information Financial information Notes Alternative performance measures Glossary and other information →YEAR REPORT 2025 “ After one quarter as Acting CEO, my view is clear. Humble has taken an important step toward a more operational approach, where we act more actively as owners and devote more time and effort to ensuring that our businesses reach their full potential. The e fficiency program is progressing according to plan, and we are confident in achieving the communicated cost saving targets. In parallel, the strategic review is ongoing with several processes underway regarding divestments, selective acquisitions, and strategic partnerships. Our long - term goal is to create a more focused and profitable group. Our ambition is to communicate conc rete steps within the coming months. We assess that the Swedish krona will continue to be challenging and impact the group in the short term. That said, we remain determined to act decisively in executing the measures now being implemented. The transformation currently underway within Humble is important and necessary to ensure a more profitable business in the medium term. Our primary focus is to create long term shareholder value through increased profitability, stronger cash flows, and a more predictable Humble. With a clearer focus, we see strong conditions for taking the next step in Humble’s continued development journe y together with the group’s hardworking entrepreneurs. .” Noel Abdayem Acting CEO Humble Group Stockholm, February 13 th , 202 6 6% Organic growth 2,118 Net Sales - 0.3X Change in L everage to NIBD 206 MSEK Cash flow from operations 139 MSEK Adjusted EBITA 665 MSEK Gross profit MSEK ===== SIDA 3 ===== → Overview Comments from the CEO Financial Development Segment information Financial information Notes Alternative performance measures Glossary and other information Year - end Report Q4 2025 3 → CONTINUED ORGANIC GROWTH, STRONG CASH FLOW AND REDUCED LEVERAGE FINANCIAL INFORMATION FOURTH QUARTER • Net sales grew organically with 6 % and amounted to MSEK 2,118 ( 2 , 089 ) . Total change amounted to 1 % and the currency impact was - 4 %. • EBITA amounted to MSEK 123 ( 1 37 ). • Adjusted EBITA amounted to MSEK 13 9 ( 1 42 ). • EBIT amounted to MSEK 7 8 ( 90 ). • Adjusted EBIT amounted to MSEK 9 4 ( 94 ). • Cash flow from operating activities amounted to MSEK 206 ( 1 32 ). • Profit and loss after tax amounted to MSEK 15 ( 28 ). • Earnings per share before and after dilution amounted to SEK 0.0 3 (0. 06 ). TWELVE MONTHS • Net sales grew organically with 7% and amounted to MSEK 8,097 (7,708) . Total change amounted to 5% and the currency impact was - 2%. • EBITA amounted to MSEK 435 ( 5 55 ). • Adjusted EBITA amounted to MSEK 559 ( 5 63 ). • EBIT amounted to MSEK 2 49 ( 36 1 ). • Adjusted EBIT amounted to MSEK 37 3 ( 3 69 ). • Cash flow from operating activities amounted to MSEK 515 ( 285 ). Cash flow from operating activities includes repayment of tax deferrals of MSEK - 9 2 . • Profit and loss after tax amounted to MSEK 1 6 ( 1 09 ). • Earnings per share before and after dilution amounted to SEK 0.0 4 (0. 2 5 ). SIGNIFICANT EVENTS DURING THE QUARTER • On October 2nd, the Board of Directors of Humble Group AB appointed Noel Abdayem as acting CEO after Simon Petrén, in consultation with the Board, decided to leave Humble . • N umber of shares and votes increased during December as a result of the issue of C 2025 shares within the framework of Humble’s incentive program 2025/2028. The number of shares increased by a total of 3,467,476 shares with one - tenth of a vote per share. AFTER THE QUARTER • The Board of Directors proposes that no divide n d will be paid for the financial year 2025. FINANCIAL OVERVIE W MSEK Oc t- De c 2025 Oc t- De c 2024 Ja n- De c 2025 Ja n- De c 2024 Net sales 2,1 1 8 2,089 1% 8,097 7,708 5% Gross profit 665 659 1% 2,545 2,41 9 5% Gross margin 31 .4% 31 .6% - 0.2pp 31 .4% 31 .4% 0.1 pp EBITA* 1 23 1 37 - 1 0% 435 555 - 22% Adjusted EBITA* 1 39 1 42 - 2% 559 563 - 1 % EBIT* 78 90 - 1 3% 249 361 - 31 % Adjusted EBIT* 94 94 - 1 % 373 369 1% EBIT margin* 3.7% 4.3% - 0.6pp 3.1 % 4.7% - 1 .6pp Adjusted EBIT margin* 4.4% 4.5% - 0.1 pp 4.6% 4.8% - 0.2pp Leverage to NIBD incl contingent consideration* 2.6x 2.9x - 0.3x 2.6x 2.9x - 0.3x Cash flow from operating activities** 206 1 32 56% 51 5 285 81 % Earnings per share before and after dilution, SEK* 0.03 0.06 - 48% 0.04 0.25 - 85% Adjusted earnings per share, SEK* 0.07 0.07 - 6% 0.31 0.26 1 8% *Oct- Dec 2024 and Jan- Dec 2024 has been restated. See more in Note 8. **Cash flow for Jan- Dec 2025 includes payment of tax deferrals of MSEK - 92. See section at the end of the report for definitions and reconciliations of alternative performance measures. ===== SIDA 4 ===== Year - end Report Q4 2025 4 Overview → Comments from the CEO Financial Development Segment information Financial information Notes Alternative performance measures Glossary and other information Year - end Report Q4 2025 4 → COMMENTS FROM THE CEO Humble Group concludes the year with an organic sales growth of 6 % , with gross profit in line with the previous year. The fourth quarter also marked an important shift for us as a company. Our transformation efforts have accelerated, with clearer priorities to create a more result‑oriented Humble, characterized by higher operational discipline, more efficient capital allocation, improved cash flows, and a reduced leverage ratio. FINANCIAL PERFORMANCE Net sales increased during the quarter to M SEK 2,118 (2,089), corresponding to an organic growth of 6 % , ma inly driven by strong development in the Future Snacking and Quality Nutrition segments. Adjusted EBITA amounted to M SEK 13 9 (142), and the work to realize the previously communicated profitability improvements is ongoing. The increasingly stronger Swedish krona has had a negative impact on revenue, profitability, liquidity, and leverage. Gross profit amounted to M SEK 665 (659), with a gross margin of 31.4 % (31. 6 ). Currency effects impacted profitability by M SEK - 33 and the gross margin by - 0.3 percentage points during the quarter. Cash flow from operating activities , after changes in working capital, amounted to M SEK 206 (132). We continue to work with strong focus on optimizing inventory levels and strengthening cash flow. Net debt continued to decline during the quarter to 2.6x (2.9x). Adjusted for currency effects on profitability and cash, net debt amounts to 2.4x and we remain firmly committed to further reducing the leverage ratio. THE DEVELOPMENT OF OUR FOUR SEGMENTS The past quarter confirms the breadth and resilience of Humble Group. Despite a challenging market environment, we are seeing stable demand across our segments, with both Future Snacking and Quality Nutrition showing strong organic growth. The Future Snacking segment continues to grow. During the fourth quarter, organic growth in the segment reached 21 % . Several brands within the segment continue to gain market share through new launches and increased listings. During the quarter, we initiated installation of our new production facility in Skövde. Over time, the new facility is expected to strongly contr ibute to the segment’s future international expansion opportunities while strengthening our position in the Swedish market. Sustainable Care had a more challenging quarter, with organic net sales declining by - 1 % . We continue to see a volatile market in the UK and Germany. Our subsidiary Solent, which constitutes a significant part of the segment, performed fundamentally well, although the loss of a distribution contract negatively impacted growth. EBITA in the se gment was affected by currency effects of M SEK - 5. Within Quality Nutrition , organic growth amounted to 11 % . We have seen a strong recovery in the production of sports nutrition products, and our assessment is that this positive development will continue into the new year. The conditions for continued growth are considered favorable. Nordic Distribution grew organically by 3 % during the quarter, with a stable gross margin development. The business continues to contribute significant value through an established distribution model with broad market presence, strengthening both our own brands and external partnerships. At the sam e time, we see good opportunities to win additional major contracts with Swedish retail chains during the year. OUTLOOK AND FOCUS AHEAD After one quarter as Acting CEO, my view is clear. Humble has taken an important step toward a more operational approach, where we act more actively as owners and devote more time and effort to ensuring that our businesses reach their full potential. The e fficiency program is progressing according to plan, and we are confident in achieving the communicated cost saving targets. In parallel, the strategic review is ongoing with several processes underway regarding divestments, selective acquisitions, and strategic partnerships. Our long - term goal is to create a more focused and profitable group. Our ambition is to communicate conc rete steps within the coming months. We assess that the Swedish krona will continue to be challenging and impact the group in the short term. That said, we remain determined to act decisively in executing the measures now being implemented. The transformation currently underway within Humble is important and necessary to ensure a more profitable business in the medium term. Our primary focus is to create long term shareholder value through increased profitability, stronger cash flows, and a more predictable Humble. With a clearer focus, we see strong conditions for taking the next step in Humble’s continued development journe y together with the group’s hardworking entrepreneurs. Noel Abdayem Acting CEO Humble Group Stockholm, February 13 th , 2026 ===== SIDA 5 ===== Overview Comments from the CEO → Financial Development Segment information Financial information Notes Alternative performance measures Glossary and other information Year - end Report Q4 2025 5 → FINANCIAL DEVELOPMENT FOURTH QUARTER REVENUES Net sales Net sales for the quarter amounted to MSEK 2,118 ( 2,089 ), an increase of 1 % compared to the corresponding period last year. The change is attributable to organic growth of 6 % and currency impact of - 4 %. Gross profit The gross profit amounted to MSEK 665 (6 59 ), resulting in a gross margin of 31.4 %, a decrease of - 0.2 percentage points compared to the corresponding period last year. Currency effects impacted gross profit with MSEK - 33 . EXPENSES Other external expenses Other external expenses for the quarter amounted to MSEK - 296 ( - 2 89 ), which corresponded to 14 % ( 14 %) of net sales. Other external expenses for 2024 were restated from - 274 to MSEK - 289, a change of MSEK - 15. See note 8 for more information. Sales and marketing expenses amount to MSEK - 140 ( - 132 ), corresponding to an increase of MSEK - 8 and 6 %. Personnel expenses Personnel expenses for the quarter amounted to MSEK - 211 ( - 230 ), which corresponded to 10 % ( 11 %) of net sales. Personnel expenses were negatively impacted by a consideration linked to employment (stay - on - bonus and lock - in penalties) of MSEK - 2 ( - 5 ), see table Items affecting comparability at end of report. Depreciation and amortization Total depreciation and amortization for the quarter amounted to MSEK - 8 5 ( - 8 2 ), which corresponded to a change of 3 % compared with the corresponding period last year. Depreciation of right - of - use assets amounted to MSEK - 27 ( - 22 ) for the quarter. Amortization of assets related to acquisitions, of which a vast majority related to customer relations, amounted to MSEK - 30 ( - 3 7 ). Financial expenses Financial expenses for the period amounted to MSEK - 4 9 ( - 55 ). The financial expenses were positively impacted from improved terms and conditions as a result from the updated financing structure communicated in July 2025. Interest expense from leasing liabilities amounted to MSEK - 1 0 ( - 7 ). For more details , please see Note 9 Financial expenses. RESULTS EBITA EBITA for the quarter amounted to MSEK 123 (1 37 ), a change of MSEK - 14 compared with the corresponding period last year. Adjusted EBITA amounted to MSEK 13 9 ( 142 ), which corresponded to a change of MSEK - 3 , a - 2 % decrease for the period. Revaluation of contingent considerations is presented gross on other operating income and other operating expenses with a net impact to EBITA with MSEK - 2 ( 6 ) . For more details , please see N ote 12 and table Items affecting comparability at end of report. Currency effects impacted EBITA with MSEK - 7 . EBIT EBIT for the quarter amounted to MSEK 7 8 ( 90 ), which corresponded to a change of MSEK - 1 2 compared with the corresponding period last year. Adjusted EBIT amounted to MSEK 9 4 ( 94 ), which corresponded to a change of MSEK 0 , a decrease of 0 % for the period. Currency effects impacted EBIT with MSEK - 2 . Earnings per share Earnings per share amounted to SEK 0.0 3 (0. 06 ). Adjusted for items affecting comparability, earnings per share amounted to SEK 0.0 7 (0. 07 ). For more details on adjusted items, please see table Items affecting comparability at end of report. Other comprehensive income The negative exchange difference in translation of foreign operations for the period is attributable to the strengthening of the Swedish krona against other currencies, with main effect from GBP , AUD and EUR. Efficiency program In September, Humble launched an efficiency program that expects to provide annual cost savings of approximately MSEK 80. The initiatives in the efficiency program evolves according to plan where the quarter have incurred restructuring activities to reduce costs and increase efficiency in personnel and other external expenses . As per December 2025 the remaining cost provision amounts to MSEK 1 9 . CASH FLOW AND FINANCIAL POSITION Cash flow Cash flow from operating activities amounted to MSEK 206 ( 132 ). Cash flow from operations was positively impacted with MSEK 79 from change in net working capital where a reduction with MSEK - 86 in inventory contributed positively . Cash flow from financing activities amounted to MSEK - 6 2 ( 73 ). Financial position Interest - bearing liabilities amounted to MSEK 1,668 compared with MSEK 1, 766 at end of same quarter last year. Net debt including contingent consideration/Adjusted EBITDA excluding leasing was 2.6 x compared with 2. 9 x on Dec 3 1 st , 202 4 . Adjusted for negative currency effect in liquidity and profitability, the leverage developed to 2 . 4 x. ===== SIDA 6 ===== Overview Comments from the CEO → Financial Development Segment information Financial information Notes Alternative performance measures Glossary and other information Year - end Report Q4 2025 6 TWELVE MONTHS REVENUES Net sales Net sales for the period amounted to MSEK 8,097 ( 7,708 ), an increase of 5 % compared to the corresponding period last year. The change is attributable to organic growth of 7 % and currency impact of - 2 %. Gross profit The gross profit amounted to MSEK 2,545 ( 2,419 ), resulting in a gross margin of 31.4 % (31.4%) in line with previous year . Currency effects impacted gross profit with MSEK - 74 . EXPENSES Other external expenses Other external expenses for the period amounted to MSEK - 1,080 ( - 1,005 ), which corresponded to 13 % (13%) of net sales. Other external expenses for 2024 were restated from - 990 to - MSEK - 1,005 , a change of MSEK - 15. See N ote 8 for more information. Other external expenses were negatively impacted by a one - off impact from the efficiency program of MSEK - 11 . Sales and marketing expenses amount to MSEK - 484 ( - 424 ), corresponding to an increase of MSEK - 60 and 14 %. Personnel expenses Personnel expenses for the period amounted to MSEK - 890 ( - 834 ), which corresponded to 11 % (11%) of net sales. Personnel expenses were negatively impacted by a one - off impact from the efficiency program of MSEK - 29, severance pay to former CEO of MSEK - 12 and consideration linked to employment (stay - on - bonus and lock - in penalties) of MSEK - 10 ( - 2 5 ), see table Items affecting comparability at end of report. Depreciation and amortization Total depreciation and amortization for the period amounted to MSEK - 33 4 ( - 312 ), which corresponded to a change of 7 % compared with the corresponding period last year. Depreciation of right - of - use assets amounted to MSEK - 102 ( - 79 ) for the period. Amortization of assets related to acquisitions, of which a vast majority related to customer relations, amounted to MSEK - 12 9 ( - 1 49 ). Financial expenses Financial expenses for the period amounted to MSEK - 194 ( - 228 ). The financial expenses were positively impacted from improved terms and conditions as a result from the updated financing structure communicated in July 2025. Interest expense from leasing liabilities amounted to MSEK - 34 ( - 24) . Such interest expense has no cash effect on the quarterly result. For more details , please see Note 9 Financial expenses . RESULTS EBITA EBITA for the period amounted to MSEK 435 ( 5 55 ), a change of MSEK - 120 compared with the corresponding period last year. Adjusted EBITA amounted to MSEK 559 ( 5 63 ), which corresponded to a change of MSEK - 4 , a - 1 % decrease for the period. Revaluation of contingent considerations is presented gross on other operating income and other operating expenses with and net impact to EBITA with MSEK - 9 (65) . For more details , please see N ote 12 and table Items affecting comparability at end of report. Currency effects impacted EBITA with MSEK - 16 . EBIT EBIT for the period amounted to MSEK 2 49 ( 3 61 ), which corresponded to a change of MSEK - 11 2 compared with the corresponding period last year. Adjusted EBIT amounted to MSEK 37 3 ( 3 69 ), which corresponded to a change of MSEK 4 , an increase of 1 % for the period. Currency effects impacted EBIT with MSEK - 9 . Earnings per share Earnings per share amounted to SEK 0.0 4 (0. 2 5 ). Adjusted for items affecting comparability, earnings per share amounted to SEK 0.3 1 (0. 26 ). For more details on adjusted items, please see table Items affecting comparability at end of report. Other comprehensive income The negative exchange difference in translation of foreign operations for the period is attributable to the strengthening of the Swedish krona against other currencies, with main effect from GBP , AUD and EUR. Efficiency program In September, Humble launched an efficiency program that expects to provide annual cost savings of approximately MSEK 80. The initiatives in the efficiency program evolves according to plan where the quarter have incurred restructuring activities to reduce costs and increase efficiency in personnel and other external expenses . As per December 2025 the remaining cost provision amounts to MSEK 1 9 . CASH FLOW AND FINANCIAL POSITION Cash flow Cash flow from operating activities amounted to MSEK 515 (285). Change in net working amounted to MSEK - 11, reflecting a clear improvement versus previous year driven by reduced capital tie - up in inventory and receivables. The change in short - term liabilities of - 72 (55), had negative impact of MSEK - 92 related to repayment of tax deferrals. Adjusted for repayment of tax deferral, the cash flow from operating activities amounted to MSEK 607 (285). Cash flow from financing activities amounted to MSEK - 354 (1 8). Currency effects impacted cash position with MSEK - 38 (12). Financial position Interest - bearing liabilities amount to MSEK 1,668 compared with MSEK 1,766 at the beginning of the period. Net debt including contingent consideration/Adjusted EBITDA excluding leasing was 2.6 x compared with 2. 9 x on December 31 st , 2024. Adjusted for negative currency effect in liquidity and profitability, the leverage developed to 2 . 4 x. ===== SIDA 7 ===== Overview Comments from the CEO Financial Development → Segment information Financial information Notes Alternative performance measures Glossary and other information Year - end Report Q4 2025 7 → SEGMENT INFORMATION Companies included in the segments can be found on the Group’s website and for a complete list of the Group's legal entities, see the Annual Report 2024. FUTURE SNACKING Future Snacking offers healthier options in candy, snacks, and various food products. By combining innovation, quality, and taste, Humble aims to remain a leading provider of better alternatives within confectionary and snack segments. Apart from brands, t he segment includes the confectionary production unit, Arena Confectionary. Net sales for the quarter increased by 18%, reaching MSEK 296 (250). Organic growth amounted to 21% with negative FX effect of - 3%. The brands portfolio continued to demonstrate strong momentum, supported by solid growth in the confectionery segment. Adju sted EBITA amounted to MSEK 19 (5), corresponding to an adjusted EBITA margin of 6.4% (1.9%). SUSTAINABLE CARE Sustainable Care offers innovative products in the personal care and household categories. The segment includes companies operating across the entire value chain - production, branding and distribution. Solent is the largest subsidiary in the segment, a UK - based retail partner with an international footprint. Net sales decreased by - 8% and amounted to MSEK 630 (686) for the quarter. Organic growth of - 1 %, with FX effect of - 7 %. Profitability was affected by higher levels of promotional activity as well as negative FX effects of MSEK - 5. Adjusted EBITA of MSE K 53 (66), corresponding to an adjusted EBITA margin of 8.4% (9.6%). SUSTAINABLE CARE, MSEK Oc t- De c 2025 Oc t- De c 2024 Ja n- De c 2025 Ja n- De c 2024 Gross sales 633 690 2,336 2,430 Intra- group sales -4 -4 - 21 - 21 Ne t sa le s 630 686 2 ,3 15 2 ,4 0 9 Gross profit 234 261 871 887 Gross margin 37.1 % 38.0% 37.6% 36.8% EBITA 47 69 220 285 Adjuste d EBITA 53 66 257 278 Adjusted EBITA margin 8.4% 9.6% 1 1 .1 % 1 1 .5% EBIT 24 44 12 2 18 3 Adjuste d EBIT 29 41 15 9 17 7 Adjusted EBIT margin 4.6% 5.9% 6.9% 7.3% See section at the end of the report for definitions and reconciliations of alternative performance measures. Future Snacking Sustainable Care FUTURE SNACKING, MSEK Oc t- De c 2025 Oc t- De c 2024 Ja n- De c 2025 Ja n- De c 2024 Gross sales 327 274 1 ,279 1 ,082 Intra- group sales - 31 - 24 - 1 1 7 - 1 07 Ne t sa le s 296 250 1,16 2 975 Gross profit 13 4 115 548 442 Gross margin 45.2% 46.0% 47.2% 45.4% EBITA* 12 9 10 8 97 Adjuste d EBITA* 19 5 12 3 77 Adjusted EBITA margin 6.4% 1 .9% 1 0.6% 7.9% EBIT* 1 -1 69 55 Adjuste d EBIT* 8 -5 85 36 Adjusted EBIT margin 2.8% - 2.0% 7.3% 3.6% *Oct- Dec 2024 and Jan- Dec 2024 has been restated. See more in Note 8. See section at the end of the report for definitions and reconciliations of alternative performance measures. ===== SIDA 8 ===== Overview Comments from the CEO Financial Development → Segment information Financial information Notes Alternative performance measures Glossary and other information Year - end Report Q4 2025 8 QUALITY NUTRITION Quality Nutrition combines contract manufacturing and strong brands within the categories of sports nutrition, bars, dietary supplements, and functional beverages. Humble offers a wide range of products tailored to a growing and increasingly health - conscio us consumer group. Net sales increased by 5% and amounted to MSEK 422 (403) for the quarter. The organic growth of 11% was driven by strong development for sport nutrition products . Gross profit was impacted by currency effects of MSEK - 10. Adjusted EBITA amounted to MSEK 24 (19), corresponding to an A djusted EBITA margin of 5.7% (4.6%). Currency effect impacted EBITA with MSEK - 2. NORDIC DISTRIBUTION Nordic Distribution comprises wholesale and distribution operations across the Nordic region, with a strong presence primarily in Sweden. The segment serves as a growth platform for both the Group’s own brands and external customers. In addition to the Swe dish operations, it includes local distributors in other Nordic countries particularly in Norway - focused on sports nutrition, dietary supplements, and functional foods. Net sales increased by 3% and amounted to MSEK 771 (750) for the quarter . The organic growth was 3%. Adjusted EBITA amounted to MSEK 20 (21), corresponding to an A djusted EBITA margin of 2.6% (2.7%). There was no significant impact from currency in the segment. QUALITY NUTRITION, MSEK Oc t- De c 2025 Oc t- De c 2024 Ja n- De c 2025 Ja n- De c 2024 Gross sales 435 398 1 ,621 1 ,594 Intra- group sales - 1 3 5 - 52 - 58 Ne t sa le s 422 403 1,5 6 9 1,5 3 6 Gross profit 12 7 12 8 464 483 Gross margin 30.0% 31 .7% 29.6% 31 .4% EBITA 23 17 57 10 9 Adjuste d EBITA 24 19 90 10 6 Adjusted EBITA margin 5.7% 4.6% 5.8% 6.9% EBIT 16 9 28 82 Adjuste d EBIT 17 11 62 78 Adjusted EBIT margin 4.1 % 2.8% 4.0% 5.1 % See section at the end of the report for definitions and reconciliations of alternative performance measures. NORDIC DISTRIBUTION, MSEK Oc t- De c 2025 Oc t- De c 2024 Ja n- De c 2025 Ja n- De c 2024 Gross sales 773 720 3,061 2,821 Intra- group sales -2 30 - 1 1 - 34 Ne t sa le s 771 750 3 ,0 5 0 2 ,7 8 7 Gross profit 17 1 15 6 662 606 Gross margin 22.2% 20.7% 21 .7% 21 .7% EBITA 18 17 10 4 87 Adjuste d EBITA 20 21 10 7 98 Adjusted EBITA margin 2.6% 2.7% 3.5% 3.5% EBIT 15 11 84 62 Adjuste d EBIT 16 14 87 74 Adjusted EBIT margin 2.1 % 1 .9% 2.9% 2.7% See section at the end of the report for definitions and reconciliations of alternative performance measures. Quality Nutrition Nordic Distribution ===== SIDA 9 ===== Overview Comments from the CEO Financial Development Segment information → Financial information Notes Alternative performance measures Glossary and other information Year - end Report Q4 2025 9 → CONSOLIDATED INCOME STATEMENT & STATEMENT OF COMPREHENSIVE INCOME CONSOLIDATED INCOME STATEMENT, MSEK Note Oc t- De c 2025 Oc t- De c 2024 Ja n- De c 2025 Ja n- De c 2024 Ne t sa le s 10 2 ,118 2 ,0 8 9 8 ,0 9 7 7 ,7 0 8 Capitalized work on own account 0 2 5 7 Other operating income 12 19 37 61 1 40 Raw materials and consumables - 1 ,453 - 1 ,430 - 5,552 - 5,289 Other external expenses* 8 - 296 - 289 - 1 ,080 - 1 ,005 Personnel expenses - 21 1 - 230 - 890 - 834 Other operating expenses 12 - 1 5 -7 - 58 - 54 EBITDA 16 3 17 2 583 673 Depreciation of tangible assets - 1 3 - 1 3 - 46 - 39 Depreciation of right- of- use assets - 27 - 22 - 1 02 - 79 EBITA 12 3 13 7 435 555 Amortization and impairment of intangible assets - 1 5 - 1 1 - 57 - 45 Amortization and impairment of assets related to acquisitions - 30 - 37 - 1 29 - 1 49 EBIT 78 90 249 361 Profit from shares in associated companies and joint ventures 0 0 2 0 Financial income 4 1 10 13 Financial expenses 9 - 49 - 55 - 1 94 - 228 PROFIT AND LOSS AFTER FINANCIAL ITEMS 34 36 67 14 6 Income tax - 1 9 -8 - 51 - 37 PROFIT AND LOSS AFTER TAX 15 28 16 10 9 Profit a nd loss is a ttributa ble to: Owners of the Parent Company 15 27 17 1 09 Non- controlling interest 0 0 -1 0 15 28 16 10 9 Ea rnings pe r sha re be fore dilution 0 .0 3 0 .0 6 0 .0 4 0 .2 5 Ea rnings pe r sha re a fte r dilution 0 .0 3 0 .0 6 0 .0 4 0 .2 5 STATEMENT OF COMPREHENSIVE INCOME, MSEK Oc t- De c 2025 Oc t- De c 2024 Ja n- De c 2025 Ja n- De c 2024 PROFIT AND LOSS AFTER TAX 15 28 16 10 9 Items that may be reclassified to profit or loss: Exchange differences in translation of foreign operations - 65 68 - 337 1 97 COMPREHENSIVE INCOME FOR PERIOD - 5 0 96 - 3 2 1 306 The c ompre he nsive inc ome for the pe riod is a ttributa ble to: Owners of the Parent Company - 50 95 - 320 306 Non- controlling interest 0 0 -1 0 *Oct- Dec 2024 and Jan- Dec 2024 has been restated for Other external expenses. See more in Note 8. ===== SIDA 10 ===== Overview Comments from the CEO Financial Development Segment information → Financial information Notes Alternative performance measures Glossary and other information Year - end Report Q4 2025 10 → CONSOLIDATED BALANCE SHEET - IN SUMMARY MSEK Note 3 1 De c 2025 3 1 De c 2024 ASSETS Intangible assets 5,61 0 6,035 Tangible assets* 8 307 246 Financial assets 94 90 Right- of- use assets 558 41 9 Deferred tax assets 41 37 Tota l non- c urre nt a sse ts 6 ,6 10 6 ,8 2 7 Inventory 1 ,072 1 ,1 60 Accounts receivables 557 599 Other short- term receivables* 21 9 288 Cash and cash equivalents 321 432 Tota l c urre nt a sse ts 2 ,16 9 2 ,4 7 9 TOTAL ASSETS 8 ,7 7 9 9 ,3 0 6 EQUITY AND LIABILITIES Equity Attributable to Parent Company's shareholder* 8 4,888 5,1 82 Non- controlling interest -1 0 Tota l sha re holde rs' e quity 4 ,8 8 7 5 ,18 2 Liabilities Interest- bearing liabilities 11 1 ,480 1 ,406 Contingent considerations 12 8 24 Long- term lease liabilities 485 357 Deferred tax liabilities 389 439 Provisions 24 0 Other long- term liabilities 95 1 93 Tota l long- te rm lia bilitie s 2 ,4 8 1 2 ,4 19 Interest- bearing liabilities 11 1 88 360 Contingent considerations 12 19 115 Current lease liabilities 111 95 Accounts payable 71 0 679 Other short- term liabilities 383 456 Tota l short- te rm lia bilitie s 1,4 11 1,7 0 5 TOTAL EQUITY AND LIABILITIES 8 ,7 7 9 9 ,3 0 6 *31 Dec 2024 has been restated. See more in Note 8. ===== SIDA 11 ===== Overview Comments from the CEO Financial Development Segment information → Financial information Notes Alternative performance measures Glossary and other information Year - end Report Q4 2025 11 → CONSOLIDATED STATEMENT OF CASH FLOW MSEK Oc t- De c 2025 Oc t- De c 2024 Ja n- De c 2025 Ja n- De c 2024 OPERATING ACTIVITIES EBIT 78 90 249 361 Adjustment for non- cash items: Depreciation and Amortization 85 82 334 31 2 Other items - 32 - 33 28 - 79 Paid tax -4 -7 - 85 - 77 Ca sh flow from ope ra ting a c tivitie s be fore c ha nge in ne t working c a pita l 12 7 13 3 526 5 17 Change in inventories (increase - / decrease + ) 86 36 34 - 21 0 Change in short term receivables (increase - / decrease + ) 46 - 1 3 27 - 77 Change in short term liabilities (increase - / decrease + ) * - 53 - 24 - 72 55 Sum of c ha nge in working c a pita l 79 -1 - 11 - 2 3 2 Ca sh flow from ope ra ting a c tivitie s 206 13 2 5 15 285 INVESTING ACTIVITIES Acquisition of intangible assets -3 - 1 2 - 20 - 34 Acquisition of tangible assets - 35 - 25 - 1 1 2 - 1 05 Disposal of financial assets 0 0 0 53 Disposal of subsidaries 0 -3 0 112 Acquisition of subsidiaries, acquired business + paid earn- outs 0 -2 - 1 02 - 31 0 Ca sh flow from inve sting a c tivitie s - 3 9 - 4 2 - 2 3 4 - 2 8 4 FINANCING ACTIVITIES Share issue funds 1 0 2 0 Costs related to share issues 0 -2 -3 -6 Received interest on financing activities 1 8 2 8 Paid interest due to financing activities - 27 - 35 - 1 1 1 - 1 44 New loans 1 35 337 495 799 Repayment of loans - 1 34 - 1 83 - 599 - 529 Loan to joint ventures 0 - 1 4 -2 - 1 4 Amortization of lease liability - 37 - 39 - 1 36 - 96 Ca sh flow from fina nc ing a c tivitie s - 6 2 73 - 3 5 4 18 De c re a se /Inc re a se in c a sh a nd c a sh e quiva le nts 10 5 16 2 - 7 3 19 Cash and cash equivalents at beginning of period 21 9 262 432 401 Exchange rate differences -3 8 - 38 12 Ca sh a nd c a sh e quiva le nts a t e nd of pe riod 321 432 321 432 * Include repayment on tax deferral of MSEK - 92 for full year 2025. ===== SIDA 12 ===== Overview Comments from the CEO Financial Development Segment information → Financial information Notes Alternative performance measures Glossary and other information Year - end Report Q4 2025 12 → CONSOLIDATED STATEMENT OF CHANGES IN EQUITY MSEK Sha re c a pita l Othe r e quity c ontribute d Tra nsla tion re se rve Re ta ine d e a rnings Tota l Non- c ontrolling inte re st Tota l sha re holde rs e quity Ope ning ba la nc e Ja nua ry 1, 2 0 2 4 , a s origina lly pre se nte d 98 5 ,0 2 7 18 3 - 4 3 9 4 ,8 6 9 4 ,8 6 9 Correction of error* - 24 - 24 - 24 Re sta te d ope ning ba la nc e Ja nua ry 1, 2 0 2 4 - 4 6 3 4 ,8 4 5 4 ,8 4 5 Net income for period** 1 09 1 09 0 1 09 Other comprehensive income 1 97 1 97 1 97 Tota l c ompre he nsive inc ome 1 97 1 09 306 0 306 Transaction with owners in their capacity as owners: Share issue 1 29 29 29 Transaction costs 0 0 Warrants program 2 2 2 Aquistion of non- controlling interest 0 0 Tota l tra nsa c tion with owne rs in the ir c a pa c ity a s owne rs 1 31 32 0 31 Ending ba la nc e De c e mbe r 3 1, 2 0 2 4 (re sta te d) 98 5 ,0 5 8 380 - 3 5 4 5 ,18 2 0 5 ,18 2 Ope ning ba la nc e Ja nua ry 1, 2 0 2 5 98 5 ,0 5 8 380 - 3 5 4 5 ,18 2 0 5 ,18 2 Net income for period 17 17 -1 16 Other comprehensive income - 337 - 337 - 337 Tota l c ompre he nsive inc ome - 337 17 - 320 -1 - 321 Transaction with owners in their capacity as owners: Share issue 1 23 24 24 Transaction costs 0 0 0 Warrants program 2 2 2 Tota l tra nsa c tion with owne rs in the ir c a pa c ity a s owne rs 1 25 0 26 26 Ending ba la nc e De c e mbe r 3 1, 2 0 2 5 10 0 5 ,0 8 3 43 - 3 3 7 4 ,8 8 8 -1 4 ,8 8 7 Equity a ttributa ble to Pa re nt Compa ny's sha re holde r * Please see more on the correction of error in previous periods in Note 8. **Oct- Dec 2024 and Jan- Dec 2024 has been restated for Retained earnings. See more in Note 8. ===== SIDA 13 ===== Overview Comments from the CEO Financial Development Segment information → Financial information Notes Alternative performance measures Glossary and other information Year - end Report Q4 2025 13 → CONDENSED PARENT COMPANY INCOME STATEMENT & BALANCE SHEET MSEK Oc t- De c 2025 Oc t- De c 2024 Ja n- De c 2025 Ja n- De c 2024 Net sales 24 28 67 59 Other operating income 4 11 -6 12 Tota l re ve nue 28 39 60 71 Other external expenses - 1 7 - 1 2 - 50 - 42 Personnel expenses -9 - 1 3 - 68 - 45 Other operating expenses 0 2 -2 -2 Depreciation and amortization of tangible and intangible assets 0 0 -1 0 OPERATING PROFIT (EBIT) 2 17 - 6 0 - 19 Profit from shares in Group companies 98 35 112 1 94 Financial income and expense - 23 - 34 - 1 1 5 - 1 35 PROFIT AND LOSS AFTER FINANCIAL ITEMS 77 17 - 6 4 40 Year- end appropriations 1 44 1 28 1 53 1 28 PROFIT AND LOSS BEFORE TAX 221 14 5 89 16 8 Current taxes - 1 0 - 1 4 - 1 1 - 1 4 PROFIT AND LOSS AFTER TAX 2 11 13 1 78 15 4 In the parent company, there are no items that are reported as other comprehensive income, which is why total comprehensive income corresponds to the year's result. MS EK 3 1 De c 2025 3 1 De c 2024 AS S ETS Intangible assets 3 7 Tangible assets 1 0 Financial assets 6,974 6,963 Tota l non- c urre nt a sse ts 6 ,9 7 8 6 ,9 7 0 Receivables with group companies 442 375 Other short- term receivables 11 23 Cash and cash equivalents 9 1 50 Tota l c urre nt a sse ts 462 547 TOTAL AS S ETS 7 ,4 4 0 7 ,5 17 EQUITY AND LIABILITIES Equity Restricted equity 1 00 98 Unrestricted equity 4,924 4,821 Tota l sha re holde rs e quity 5 ,0 2 3 4 ,9 2 0 P rovisions 41 13 9 Liabilities Interest- bearing liabilities 1 ,473 1 ,393 Liabilities to group companies 0 9 Other long- term liabilities 3 7 Tota l long- te rm lia bilitie s 1,4 7 6 1,4 0 9 Interest- bearing liabilities 1 83 358 Accounts payable 8 8 Liabilities to group companies 676 629 Other liabilities 32 55 Tota l short- te rm lia bilitie s 899 1,0 5 0 TOTAL EQUITY AND LIABILITIES 7 ,4 4 0 7 ,5 17 ===== SIDA 14 ===== Overview Comments from the CEO Financial Development Segment information Financial information → Notes Alternative performance measures Glossary and other information Year - end Report Q4 2025 14 →NOTE S NOT E 1 – ACCOUNTING PRINCIPLES The consolidated financial statements have been prepared in accordance with the Swedish Annual Accounts Act, RFR 1 Supplementary Accounting Rules for Groups and International Financial Reporting Standards (IFRS) and interpretations issued by the IFRS Inter pretations Committee (IFRS IC) as adopted by the EU. The interim report has been prepared in accordance with IAS 34 Interim Financial Reporting and applicable regulations in the Swedish Annual Accounts Act. The interim report for the parent company is prep ared in accordance with ÅRL chapter 9. The financial statements have been prepared according to cost method except for certain financial assets and liabilities measured at fair value through profit and loss. Information according to IAS 34 appears in addition to the financial reports and associated notes also in other parts of the interim report. In accordance with IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors, Humble corrected errors in previously issued financial reporting for the fourth quarter of 2024. The corrections relate to the fourth quarter of 2024. Comparative figures in this interim report for the fourth quarter of 202 4 and the full year 2024 have been adjusted accordingly. See N ote 8 for more information. The accounting policies adopted are consistent with those of the Annual report for the year ended December 31 st , 2024. New or amended IFRS standards, effective from January 1st, 2025, have no impact on the result and financial position of the Group . NOT E 2 – SIGNIFICANT ACCOUNTING ESTIMATES AND JUDGEMENTS The Group makes estimates and assumptions about the future. The estimates for accounting purposes that result from this will, by definition, rarely correspond to the actual result. The estimates and assumptions that entail a significant risk of significant adjustments in reported values for assets and liabilities in this interim report correspond to those describe in Note 3 in the Annual Report 2024. The management’s main estimates during 2025 relate to the assessment whether there is any indication of impairment of g oodwill , t rademarks and other intangible assets , as well as share s in subsidiaries in the Parent company . The impairment test involves a high degree of judgment and assumptions regarding future cash flows by management. Based on the assumptions made, no impairment requirement has been identified. During 2025, the management made estimates related to cost savings for the e fficiency program. The total provision recognized amounts to MSEK 52 and as per December 31 st , 2025, the remaining provision amounts to MSEK 19 . NOTE 3 – SUBSEQUENT EVENTS The Board of Directors proposes that no divide n d will be paid for the financial year 2025. NOTE 4 – PARENT COMPANY In March, the restrictions on the MSEK 150 term loan were released. In July, Humble expanded its existing credit facility by MSEK 300 and simultaneously extended the maturity dates of the credit facilities to 2027 with an option for Humble to extend by a f urther year. No other significant events have occurred in the Parent Company during the year. NOTE 5 – RELATED PARTY TRANSACTION No transactions with related parties have occurred during 2025 that had a significant impact. The minor transactions that have occurred relate to lease agreements regarding previous owners’ properties. Lease agreements between the parties are based on an a rm’s length principle and on market terms and conditions. NOTE 6 – RISKS AND UNCERTAINTIES Humble works continuously to identify, evaluate, and manage risks and exposures that the Group ’s subsidiaries face. The Group's financial position and earnings are affected by various risk factors that must be considered when assessing the Group and its future earnings. A description of significant risks and uncertainties can be found in the Annual R eport for 2024. At the time of this interim report being published, the war in Ukraine and the conflict in Israel and Gaza remain ongoing. Humble does not have any direct exposure to these markets and therefore does not currently experience any material direct impact from the conflicts. Nevertheless, heightened geopolitical tensions and the risk of further escalation in the regions may contribute to increased volatility in global markets. During 2025, the global economic environment has been characterized by increased uncertainty, including disruptions to international trade following changes in trade policies and tariff measures. Humble currently has limited export exposure to the US marke t and therefore assesses the potential direct impact from increased tariffs to being limited. Humble continues to monitor macroeconomic developments and decisions by authorities that may affect the Group. The Group is also exposed to volatility in raw material prices, energy costs, and other input factors, which are monitored closely in order to en able price adjustments towards customers where possible and to protect operating margins. Humble is exposed to foreign currency risk arising from transactions and monetary balances denominated in currencies other than the functional currency, principally GBP, EUR, and AUD. Exchange rate movements may affect the Group’s results and financial position. In addition, risks related to interest rate movements, and the integration of acquired businesses are continuously assessed. ===== SIDA 15 ===== Overview Comments from the CEO Financial Development Segment information Financial information → Notes Alternative performance measures Glossary and other information Year - end Report Q4 2025 15 NOTE 7 – PLEDGED ASSETS AND CONTINGENT LIABILITIES The Parent Company is acting as guarantor on behalf of Grahns Konfektyr AB on the lease agreement for the new factory. NOTE 8 – RESTATEMENT OF FINANCIALS Comparative figures in this interim report for the fourth quarter of 2024 and full year 2024 have been restated due to an identified incorrect evaluation of a property in December 2024. The correction amounts to MSEK 15 and is reflected in Other external e xpenses, Tangible assets and Net income for period in Equity Statement, as well as all related KPI and APM. The effect on full year EPS is - 0.03, with previously stated 0.28 and the restated 0.25. The correction is entirely attributable to a subsidiary wit hin the segment Future Snacking. The opening balance of retained earnings of 2024 has been restated as well as the Other short - term receivables as of December 31 st , 2024. The correction amounts to MSEK - 24 and is entirely attributable to a subsidiary within the segment Sustainable care. This correction does not affect any KPI and APM within this report. NOTE 9 – FINANCIAL EXPENSES NOTE 10 – SEGMENT INFORMATION AND DISCLOSURE OF REVENUE The Group's chief operating decision maker is the chief executive officer (CEO), who primarily uses a measure of adjusted earnings before interest, tax and amortization (Adjusted EBITA) to assess the performance of the operating segments. The CEO does not follow up the segments' assets or liabilities for allocation of resources or assessment of results. DISCLOSURE OF REVENUE The Group financials consist of the segments Future Snacking, Sustainable Care. Quality Nutrition and Nordic Distribution. For further information regarding the segments, please see section Segment information. See end of report for definition and calculation of key ratios and Alternative Performance Measures (APM). Ne t sa le s pe r c ountry, MSEK Oc t- De c 2025 Oc t- De c 2024 Ja n- De c 2025 Ja n- De c 2024 Sweden 1 ,021 983 3,871 3,665 United Kingdom 380 401 1 ,41 7 1 ,41 3 Other countries* 400 409 1 ,566 1 ,575 Rest of Nordic 1 87 1 48 754 563 Australia 1 31 1 48 489 492 Tota l ne t sa le s 2 ,118 2 ,0 8 9 8 ,0 9 7 7 ,7 0 8 *None of the other countries independently contribute more than five percent of total net sales. MSEK Oc t- De c 2025 Oc t- De c 2024 Ja n- De c 2025 Ja n- De c 2024 Interest expense related to financing - 24 - 32 - 1 1 6 - 1 43 Unwinding of discounting effect -1 -3 -7 - 30 Interest expense on lease liabilities - 1 0 -7 - 34 - 24 Exchange rate losses and revaluation effects -7 -6 - 1 6 - 1 1 Other interest expenses -7 -7 - 21 - 20 Tota l fina nc ia l e xpe nse s - 4 9 - 5 5 - 19 4 - 2 2 8 ===== SIDA 16 ===== Overview Comments from the CEO Financial Development Segment information Financial information → Notes Alternative performance measures Glossary and other information Year - end Report Q4 2025 16 Twe lve months, MSEK 2025 2024 2025 2024 2025 2024 2025 2024 2025 2024 2025 2024 Gross sales 1 ,279 1 ,082 2,336 2,430 1 ,621 1 ,594 3,061 2,821 67 59 8,365 7,987 Intra- group sales - 1 1 7 - 1 07 - 21 - 21 - 52 - 58 - 1 1 - 34 - 67 - 59 - 268 - 279 Ne t sa le s 1,16 2 975 2 ,3 15 2 ,4 0 9 1,5 6 9 1,5 3 6 3 ,0 5 0 2 ,7 8 7 0 0 8 ,0 9 7 7 ,7 0 8 Gross profit 548 442 871 887 464 483 662 606 2 ,5 4 5 2 ,4 19 Gross margin, % 47.2% 45.4% 37.6% 36.8% 29.6% 31 .4% 21 .7% 21 .7% 31 .4% 31 .4% EBITA 10 8 97 220 285 57 10 9 10 4 87 - 5 3 - 2 2 435 555 EBIT 69 55 12 2 18 3 28 82 84 62 - 5 5 - 2 1 249 361 Net financial items - 1 83 - 21 5 PROFIT AND LOSS AFTER FINANCIAL ITEMS 67 14 6 Items affecting comparability*** 16 - 20 37 -7 34 -3 3 12 34 26 1 24 8 Adjuste d EBITA*** 12 3 77 257 278 90 10 6 10 7 98 - 19 4 559 563 Adjusted EBITA margin*** 1 0.6% 7.9% 1 1 .1 % 1 1 .5% 5.8% 6.9% 3.5% 3.5% 6.9% 7.3% Adjuste d EBIT*** 85 36 15 9 17 7 62 78 87 74 - 2 0 5 373 369 Adjusted EBIT margin*** 7.3% 3.6% 6.9% 7.3% 4.0% 5.1 % 2.9% 2.7% 4.6% 4.8% Future Sna c king* Susta ina ble Ca re Qua lity Nutrition Nordic Distribution Othe r** Tota l *Forth quarter and Twelve months 2024 has been restated for Future Snacking. See more in Note 8. **Other refers to Parent company and minor administrative entities, ***See section at the end of the report for definitions and reconciliations of alternative performance measures. Fourth qua rte r, MSEK 2025 2024 2025 2024 2025 2024 2025 2024 2025 2024 2025 2024 Gross sales 327 274 633 690 435 398 773 720 26 39 2,1 94 2,1 21 Intra- group sales - 31 - 24 -4 -4 - 1 3 5 -2 30 - 26 - 39 - 75 - 32 Ne t sa le s 296 250 630 686 422 403 771 750 0 0 2 ,118 2 ,0 8 9 Gross profit 13 4 115 234 261 12 7 12 8 17 1 15 6 0 0 665 659 Gross margin, % 45.2% 46.0% 37.1 % 38.0% 30.0% 31 .7% 22.2% 20.7% 31 .4% 31 .5% EBITA 12 9 47 69 23 17 18 17 23 26 12 3 13 7 EBIT 1 -1 24 44 16 9 15 11 23 27 78 90 Net financial items - 44 - 54 PROFIT AND LOSS AFTER FINANCIAL ITEMS 34 36 Items affecting comparability*** 7 -4 5 -3 1 2 2 4 0 6 16 4 Adjuste d EBITA*** 19 5 53 66 24 19 20 21 23 32 13 9 14 2 Adjusted EBITA margin*** 6.4% 1 .9% 8.4% 9.6% 5.7% 4.6% 2.6% 2.7% 6.5% 6.8% Adjuste d EBIT*** 8 -5 29 41 17 11 16 14 23 33 94 94 Adjusted EBIT margin*** 2.8% - 2.0% 4.6% 5.9% 4.1 % 2.8% 2.1 % 1 .9% 4.4% 4.5% Future Sna c king* Susta ina ble Ca re Qua lity Nutrition Nordic Distribution Othe r** Tota l ===== SIDA 17 ===== Overview Comments from the CEO Financial Development Segment information Financial information → Notes Alternative performance measures Glossary and other information Year - end Report Q4 2025 17 NOTE 11 – NET INTEREST - BEARING DEBT Humble's net interest - bearing debt as of December 31 st , 2025, is presented in table to the right . The existing credit facility agreement includes terms and conditions implying that the Net Interest Bearing Debt in relation to LTM Adjusted EBITDA Proforma excluding leasing must not exceed 3.25x and that the LTM Adjusted EBITDA in relation to Net Financi al Expenses (as defined in the credit facility agreement) shall not be less than 4.00x at the end of this period. These terms and conditions have been met since the credit facility agreement was entered in the second quarter of 2023. Humble received tax deferments of MSEK 260 during the second quarter 2023. During the third quarter of 2024, the Group got a 36 - month instalment plan approved for the tax deferral, starting payment in February 2025. The Group repaid MSEK - 9 2 during the twelve months of 2025. Table to the left illustrates the leverage multiple. LTM Adjusted EBITDA Proforma amounted to MSEK 585 ( 589 ) excluding leasing. Adjusted NIBD including contingent consideration in relation to LTM Adjusted EBITDA Proforma amounts to 2.6x (2. 9 x) at the end of this reporting period. Adjusted for negative exchange rate differences of MSEK - 3 8 (12) in Cash and cash equivalent and MSEK - 1 8 (3) in EBITDA, the currency adjusted NIBD amounted to 2. 4 x (2.9x) . NOTE 1 2 – FINANCIAL INSTRUMENTS MEASURED AT FAIR VALUE AND LONG - TERM LOAN The methods and assumptions used by the Group when calculating the fair value of the financial instruments are described in Note 4 of the Annual Report 2024. Further information regarding the accounting principles for financial instruments is provided in Note 2 of the Annual Report 2024. There have been no transfers between fair value hierarchy levels during the reporting period. LONG - TERM LOANS In July 2025, Humble expanded its existing credit facility by MSEK 300 and simultaneously extended the maturity dates of the credit facilities to 2027 with an option for Humble to extend by a further year. As per end of December, Humble’s credit facility c omprises of two term loans of MSEK 82 and MSEK 1,250, a revolving credit facility of MSEK 425, and an overdraft facility of MSEK 225 (whereof available amount at end of period amount to MSEK 123). The term loans are measured at amortized cost that corresponds in all essentials to its fair value in the balance sheet. CONTINGENT CONSIDERATIONS The contingent considerations are recognized at fair value and have been discounted with 9.1% discount rate. The duration to maturity is presented below . Estima te d pa yme nts pe r ye a r Nomina l va lue Fa ir va lue 2026 19 19 2027 5 4 2028 5 4 Tota l c ontinge nt c onside ra tions 29 27 Continge nt c onside ra tion, MSEK 3 1 De c 2025 3 1 De c 2024 Ope ning ba la nc e 139 501 New acquisitions 0 0 Payments - 1 23 - 323 Fair value changes that are reported through profit and loss via operating income -9 - 90 Fair value changes that are reported through profit and loss via operating expense 16 25 Interest expenses related to unwinding of discounting effect 7 30 Translation differences -2 -4 Closing ba la nc e 27 13 9 MSEK 3 1 De c 2025 3 1 De c 2024 Liability to credit institutions 1 ,668 1 ,766 Cash and cash equivalents - 321 - 432 Tax deferral 1 61 252 Financial asset - 24 - 20 Ne t Inte re st Be a ring De bt 1,4 8 3 1,5 6 6 Contingent consideration 27 1 29 Ne t Inte re st Be a ring De bt inc luding c ontinge nt c onside ra tion 1,5 10 1,6 9 5 LTM Adjuste d EBITDA Proforma , e xc luding le a sing* 585 589 Leverage to NIBD 2.5x 2.7x Leverage to NIBD incl contingent consideration 2.6x 2.9x Leverage to NIBD incl contingent consideration, excl exchange rate differences 2.4x 2.9x *31 Dec 2024 has been restated. See more in Note 8. ===== SIDA 18 ===== Overview Comments from the CEO Financial Development Segment information Financial information Notes → Alternative performance measures Glossary and other information Year - end Report Q4 2025 18 → ALTERNATIVE PERFORMANCE MEASURES This report includes definitions and key figures that are not clearly defined in ÅRL or International Financial Reporting Sta ndards (IFRS) but are what the Group management considers to be relevant to users of the financial report as a supplement for the m easures of the business's development. These financial measures are not always comparable with the measures used by other com panies since not all companies calculate such financial measures in the same way. Accordingly, these financial measures are not to be regarded as a replacement for measures defined according to IFRS. Ke y ra tio De finition Re a son for usa ge Orga nic growth Change in net sales adjusted for exchange rate effect and net sales from acquired and divested subsidiaries during the period. Measures the Group's sales growth achieved without acquisitions and currency effects, in order to provide a picture of the actual development of the underlying business. Gross Profit Net sales less raw materials and consumables. Shows how much of the revenue remains after deducting the direct costs of raw materials and consumables, indicating the Group's ability to generate profit from the core operations. Gross Ma rgin Gross Profit in relation to net sales. Shows the proportion of revenue that represents gross profit, indicating the Group's efficiency in production and pricing. EBITDA Earnings before interest, tax, depreciation, amortization, and impairment. Monitors operational performance and facilitates comparisons of profitability between different subsidaries and segments. EBITA Earnings before interest, tax, amortization and impairment on intangible assets. Together with EBITDA, EBITA provides a picture of the profit that is generated by operating activities. Adjuste d EBITDA Adjuste d EBITDA ma rgin Adjuste d EBITDA pe r sha re EBITDA adjusted for items affecting comparability. Adjusted EBITDA margin is Adjusted EBITDA in relation to net sales. Adjusted EBITDA per share is Adjusted EBITDA divided by average number of shares before dilution. Items affecting comparability are adjusted to facilitate a fair comparison between two comparable time periods and to show the underlying trend in operational performance excluding non- recurring items. Adjuste d EBITA Adjuste d EBITA ma rgin Adjuste d EBITA pe r sha re EBITA adjusted for items affecting comparability. Adjusted EBITA margin is Adjusted EBITA in relation to net sales. Adjusted EBITA per share is Adjusted EBITA divided by average number of shares before dilution. Items affecting comparability are adjusted to facilitate a fair comparison between two comparable time periods and to show the underlying trend in operational performance excluding non- recurring items. Adjuste d EBIT Adjuste d EBIT ma rgin Adjuste d EBIT pe r sha re EBIT adjusted for items affecting comparability. Adjusted EBIT margin is Adjusted EBIT in relation to net sales. Adjusted EBIT per share is Adjusted EBIT divided by average number of shares before dilution. Items affecting comparability are adjusted to facilitate a fair comparison between two comparable time periods and to show the underlying trend in operational performance excluding non- recurring items. Ite ms a ffe c ting c ompa ra bility Explanation of what the items affecting comparability mainly refer to are presented in Note 1 0 in the Annual report 2024. The Group recognizes items affecting comparability to visualise comparable figures that are adjusted for the items that occur in historical numbers for various reasons. Adjuste d profit a nd loss a fte r ta x Profit and loss after tax adjusted for items affecting comparability. Items affecting comparability are adjusted to facilitate a fair comparison between two comparable time periods and to show the underlying trend in operational performance excluding non- recurring items. Ne t inte re st- be a ring de bt (NIBD) Total interest- bearing liabilities less cash and cash equivalents, plus tax deferral included, less short- term investments to be divested, less financial asset to associated company. Lease liability is not included. The Group’s primary management parameter for financing and capital allocation and are actively employed as part of the group’s financial risk management strategy. La st twe lve months Adjuste d EBITDA proforma , e xc luding le a sing Adjusted EBITDA proforma present the accumulated EBITDA before intra group eliminations in all entities in the group where an agreement of acquisition or divestment have been entered at the date of this report, adjusted for items affecting comparability. Important key figure for the group, as it is included in the covenant calculation. Le ve ra ge to NIBD Net interest- bearing debt in relations to LTM Adjusted EBITDA Proforma, exkluding leasing. The relations are presented with NIBD, NIBD incl contingent consideration and NIBD incl contingent consideration and excl exchange rate differences. Important key figure for the group, as it is included in the covenant calculation. ===== SIDA 19 ===== Overview Comments from the CEO Financial Development Segment information Financial information Notes → Alternative performance measures Glossary and other information Year - end Report Q4 2025 19 SHARES PERFORMANCE MEASURES ITEMS AFFECTING COMPARABILITY LTM Adjusted EBITDA Proforma Oc t- De c 2025 Oc t- De c 2024 Ja n- De c 2025 Ja n- De c 2024 Average number of shares before dilution 449,853,975 446,575,533 448,1 27,647 444,627,821 Adjusted EBITDA per share*, SEK 0.40 0.40 1 .58 1 .53 Adjusted EBITA per share*, SEK 0.31 0.32 1 .25 1 .27 Adjusted EBIT per share*, SEK 0.21 0.21 0.83 0.83 EBIT per share*, SEK 0.1 7 0.20 0.56 0.81 Net sales per share*, SEK 4.71 4.68 1 8.07 1 7.34 Earnings per share before and after dilution*, SEK 0.03 0.06 0.04 0.25 Adjusted earnings per share before and after dilution*, SEK 0.07 0.07 0.31 0.26 *KPI and APM for Oct- Dec 2024 and Jan- Dec 2024 has been restated. See more in Note 8. MS EK Oc t- De c 2025 Oc t- De c 2024 Ja n- De c 2025 Ja n- De c 2024 Acqusition and divestment related cost and income 0 0 1 6 Revaluation of contingent considerations accounting 2 -6 9 - 65 Lock- in penalty from acquisition SPA 2 5 10 25 Restructuring 4 4 25 25 Efficiency program* 0 0 39 0 Former CEO** 0 0 12 0 Other 9 1 27 17 Tota l ite ms a ffe c ting c ompa ra bility 16 4 12 4 8 *For period Jan- Dec 2025, MSEK 29 relates to personnel expense and MSEK 1 1 relates to other external expenses. ** For period Jan- Dec 2025, MSEK 6 relates to severence pay and MSEK 6 relates to salary. MSEK 3 1 De c 2025 3 1 De c 2024 Reported EBITDA* 583 673 Leasing - 1 29 - 97 Result from associated companies and divested subsidaries 7 5 Items affecting comparability 1 24 8 LTM Adjuste d EBITDA Proforma , e xc luding le a sing* 585 589 *31 Dec 2024 has been restated. See more in Note 8. MS EK Oc t- De c 2025 Oc t- De c 2024 Ja n- De c 2025 Ja n- De c 2024 Net sales, base 2,089 1 ,936 7,708 7,050 Net sales, organic income growth 115 1 39 576 654 Currency impact - 86 21 - 1 86 - 20 Acquisition and divestment 0 -6 0 25 Ne t sa le s 2 ,118 2 ,0 8 9 8 ,0 9 7 7 ,7 0 9 Orga nic growth, % 5 .5 % 7 .2 % 7 .5 % 9 .3 % Net sales 2,1 1 8 2,089 8,097 7,708 Raw material - 1 ,453 - 1 ,430 - 5,552 - 5,289 Gross P rofit 665 659 2 ,5 4 5 2 ,4 19 Gross Profit 665 659 2,545 2,41 9 Net sales 2,1 1 8 2,089 8,097 7,708 Gross Ma rgin, % 3 1.4 % 3 1.6 % 3 1.4 % 3 1.4 % EBIT* 78 90 249 361 Reversal of depreciation and amortization 85 82 334 31 2 EBITDA* 16 3 17 2 583 673 Items affecting comparability 16 4 1 24 8 Adjuste d EBITDA* 17 9 17 7 707 681 Net sales, base 2,1 1 8 2,089 8,097 7,708 Adjuste d EBITDA ma rgin*, % 8 .4 % 8 .5 % 8 .7 % 8 .8 % EBIT* 78 90 249 361 Reversal of amortization 45 47 1 86 1 94 EBITA* 12 3 13 7 435 555 Items affecting comparability 16 4 1 24 8 Adjuste d EBITA* 13 9 14 2 559 563 Net sales, base 2,1 1 8 2,089 8,097 7,708 Adjuste d EBITA ma rgin*, % 6 .5 % 6 .8 % 6 .9 % 7 .3 % EBIT* 78 90 249 361 Items affecting comparability 16 4 1 24 8 Adjuste d EBIT* 94 94 373 369 Net sales, base 2,1 1 8 2,089 8,097 7,708 EBIT ma rgin*, % 3 .7 % 4 .3 % 3 .1% 4 .7 % Adjuste d EBIT ma rgin*, % 4 .4 % 4 .5 % 4 .6 % 4 .8 % Profit and loss after tax* 15 28 16 1 09 Items affecting comparability 16 4 1 24 8 Adjuste d profit a nd loss a fte r ta x* 30 32 14 0 117 *KPI and APM for Oct- Dec 2024 and Jan- Dec 2024 has been restated. See more in Note 8. ===== SIDA 20 ===== Overview Comments from the CEO Financial Development Segment information Financial information Notes Alternative performance measures → Glossary and other information Year - end Report Q4 2025 20 → GLOSSARY AND OTHER INFORMATION GLOSSARY STAFF AND NUMBER OF EMPLOYEES The average number of employees in the Group for the period was 1 , 148 (1, 210 ). The proportion of women in the Group was 47 % (4 5 %). THE SHARE The Group’s share with ticker HUMBLE is listed on Nasdaq Stockholm main market since 27 th of September 2024. The share was previously traded on Nasdaq First North Growth Market since 12 th of November 2014. There was no dilution effect for the period in this report due to the average share price being lower than the exercise price of outstanding warrants. Number of shares and votes increased during December because of the issue of C 2025 shares within the framework of Humble’s incentive program 2025/2028. The number of shares increased by a total of 3,467,476 shares with one - tenth of a vote per share. LARGEST SHAREHOLDERS The ten largest shareholders per Dec ember 3 1 st , 2025, are listed in the table to the right. Owne r Sha re s Ca pita l Vote s Neudi & C:o AB 46,527,089 1 0.27% 1 0.35% Håkan Roos (RoosGruppen AB) 46,1 34,786 1 0.1 9% 1 0.27% Protector Forsikring ASA 36,255,487 8.01 % 8.07% Noel Abdayem (NCPA Capital AB) 28,41 3,596 6.41 % 6.32% Avanza Pension 25,271 ,424 5.58% 5.62% Briarwood Chase Management LLC 24,382,786 5.38% 5.43% Lombard International Assurance S.A. 1 6,21 2,285 3.58% 3.61 % Jofam AB 1 5,000,000 3.34% 3.34% DNB Asset Management AS 1 4,987,1 94 3.32% 3.34% DNB Asset Management SA 1 3,01 8,686 2.90% 2.90% Tota l top 10 2 6 6 ,2 0 3 ,3 3 3 5 8 .9 8 % 5 9 .2 5 % Other shareholders 1 86,628,1 49 41 .02% 40.75% Tota l numbe r of sha re s 4 5 2 ,8 3 1,4 8 2 10 0 % 10 0 % Oc t- De c 2025 Oc t- De c 2024 Ja n- De c 2025 Ja n- De c 2024 Number of shareholders end of period 1 5,840 1 8,436 1 5,840 1 8,436 Number of shares outstanding end of period 452,831 ,482 446,575,533 452,831 ,482 446,575,533 Average number of shares before and after dilution 449,853,975 446,575,533 448,1 27,647 444,627,821 Glossa ry FMCG Continge nt c onside ra tion LTM Short for Last twelve months. Proforma FMCG is an industry term and is short for Fast- Moving Consumer Goods. Deferred purchase price payments that are contingent upon future performance of an acquired subsidiary. The consideration can be paid in both cash and shares, and are presented to fair value based on management’s best estimate of the occurrence of future payments. Present a measure before intra group eliminations in all entities in the Group where an agreement of acquisition or divestment have been entered. The purpose is to visualise how the Group's financial position and results would have looked like at the date of this report if the companies acquired during the year, or where acquisition agreements have been communicated, had been consolidated with the existing part of the Group for twelve months. ===== SIDA 21 ===== Overview Comments from the CEO Financial Development Segment information Financial information Notes Alternative performance measures → Glossary and other information Year - end Report Q4 2025 21 → BOARD OF DIRECTORS’ APPROVAL The Board of Directors and the CEO assure that the interim report gives a true and fair view of the Group's and the Parent Co mpany's operations, position and results and describes significant risks and uncertainties that the Parent Company and the companie s included in the Group face. Stockholm February 13 th , 2026 Dajana Mirborn Chairman of the Board Ola Cronholm Board member Henrik Patek Board member Pål Bruu Board member Sara Berger Board member Noel Abdayem Acting Chief Executive Officer This report has not been subject to review by the company’s auditor. This information is such that Humble Group AB is obliged to publish in accordance with the EU regulation on market abuse. The information was submitted for publication on February 13 th , 2026, at the time specified by Humble Group's news distributor MFN at the time of publication of this press release. ===== SIDA 22 ===== → OUR COMPANIES The group consists of +40 companies operating in the fast - growing segments of healthy food and snacks, and sustainable beauty and health. ===== SIDA 23 ===== Annual and Sustainability Report 2025 7 Business overview Corporate governance Sustainability Annual report - Management administration report → C onsolidated financial statement and notes - Parent company financial statements and notes - Auditor’s Report ABOUT HUMBLE GROUP Humble is a global FMCG group of fast - growing, entrepreneurial companies specializing in innovative, healthier and more sustainable consumer products. Humble’s medium - term financial targets are: • Growth target – Average net sales growth of at least 15 percent per year, primarily driven by organic growth. • Profitability target – EBIT margin of at least 10 percent. • Capital structure – Net debt in relation to EBITDA must not exceed 2.5x. However, the company may, under special circumstances, choose to exceed this level for shorter periods in connection with acquisitions. • Humble’s dividend policy is that the surplus must be distributed to shareholders when free cash flow exceeds available investments in profitable growth. • Dividends to shareholders require that the capital structure target is met. The Board of Directors proposes that no divided will be paid for the financial year 2025. Read more about the Group and its composition on the website. FINANCIAL CALENDAR • Mars 31, 2026 - Annual and Sustainability report 2025 • April 23, 2026 – Interim report Q1 2026 • Maj 6, 2026 – Annual General Meeting 2026 • July 17, 2026 – Interim report Q2 2026 • October 21, 2026 – Interim report Q3 2026 For financial reports and calendar, see more information on the Group website. AUDITORS BDO Auditor in charge: Carl - Johan Kjellman Authorized Public Accountant Email: carl - johan.kjellman@bdo.se CONTACT DETAILS Noel Abdayem Acting Chief Executive Officer Email: noel.abdayem@humblegroup.se Johan Lennartsson Chief Financial Officer Email: johan.lennartsson@humblegroup.se HUMBLE GROUP AB Reg. no. 556794 - 4797 Ingmar Bergmans gata 2, 114 34 Stockholm www.humblegroup.se