During the quarter four new patents were granted, adding in total of seven new patent grants during 2025. This marks Neola Medical’s strongest year to date in terms of IP protection across all key target markets – Europe, the U.S. and China. In addition, the company expanded the leadership team with appointment of a Director Disposable Product Development, bringing expertise in developing disposable medical products for daily clinical use and full-scale mass production.

Summary of the period October–December 2025

• Net operating revenue: SEK 0k (0)
• Operating result: SEK -2 520 (-2 742)
• Cash flow for the period: SEK -6 000k (-4 606)
• Result per share: -0,03 SEK (-0,04)

Summary of the period January–December 2025

• Net operating revenue: SEK 0k (0)
• Operating result: SEK -8 573k (-10 797)
• Cash flow for the period: SEK -3 432k (-2 002)
• Result per share: -0,14 SEK (-0,14)
• Cash at end of the period: SEK 16 123k (19 555)
• The Board of Directors proposes no dividend for 2025

CEO comments

Clinical Pilot Study in Sweden
2025 we reached a key milestone with the initiation of our first clinical pilot study on preterm born babies in Sweden. This represents the first real-world use of Neola® for continuous monitoring of its target patient population in a neonatal intensive care setting. It marks an important step towards validating the safety and performance of the medical device, given that the lung physiology and clinical needs of preterm born babies differ substantially from those of full-term newborns.

Preliminary findings indicated further optimization of Neola® before progressing to the U.S. pivotal clinical study. With only one baby remaining to be enrolled, we will communicate key insights from the study once all enrolled babies have completed the study, the data has been analyzed, and the final results are available.

Welcoming Director Disposable Product Development
During the quarter we announced the appointment of Charlotta Lagerblad as Director Disposable Product Development. She will add valuable strength to the the leadership team within disposables as these are a key component of the company’s revenue model. Charlotta brings extensive hands-on expertise in developing disposable medical products for daily clinical use and full-scale mass production.

Strategically important assets
We continue to systematically strengthen our intellectual property base behind our core technology, measurement methods that support future clinical applications and disposable components. During the quarter four new patents were granted within three patent families, adding in total of seven new patent grants during 2025. This marks our strongest year to date in terms of IP protection across our key target markets – Europe, the U.S. and China.

With strengthened protection around both foundational and product-specific innovations, our IP portfolio is now one of our most strategically important assets.

Focus forward
As we enter 2026, we look forward to continuing the intensive work toward a future where our technology has the potential to support improved care for the most vulnerable patients.

Hanna Sjöström, CEO

The full report is attached to this press release and available on Neola Medical's website, www.neolamedical.com

Lund, February 12, 2026
The Board

For further information, contact:
Hanna Sjöström, CEO
e-mail: hanna.sjostrom@neolamedical.com

About Neola Medical
Neola Medical AB (publ) develops an innovative medical technology device for non-invasive, continuous lung monitoring and real-time alerts of potentially life-threatening lung complications in preterm born babies. By enabling instant detection, the technology aims to support earlier intervention, improve clinical decision-making, enhance long-term outcomes, and ultimately contribute to saving lives. The patented, cutting-edge technology was developed at Lund University in Sweden and is based on a spectroscopic method that measures changes in lung volume and oxygen gas concentration. Neola Medical builds on Sweden’s longstanding legacy of medical technology innovation and contributions to global health care. Neola Medical was founded in 2016 and is listed on NASDAQ First North Growth Market (ticker: NEOLA). Read more at www.neolamedical.com. The company’s Certified Adviser is FNCA Sweden AB.

This information is information that Neola Medical is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-02-12 07:00 CET.

Attachments
Neola Medical Quarterly Report Q4 2025

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