Subgen AI AB (the “Company” or “Subgen AI”) hereby corrects information regarding future revenue targets which was incorrectly included in the company description (“About Subgen AI”) in the Company’s press releases dated 9 April 2026, 5 May 2026 and 7 May 2026.

The company description included in the above-mentioned press releases stated the following:

“Subgen AI (Nasdaq First North: SUBGEN) is a Stockholm-headquartered enterprise AI company serving clients in healthcare, financial services, energy, and the public sector across Europe, the United States, and Latin America. Its flagship platform, Serenity Star, enables organisations to deploy, govern, and scale generative AI with full EU AI Act compliance and data sovereignty. The Company has grown revenue approximately 35x since 2021 and reported revenues of €18.3 million in 2025. Subgen AI targets €28.5 million in revenue for 2026 and €64.3 million by 2029”.

The references to revenue of EUR 28.5 million for 2026 and EUR 64.3 million by 2029 were included in error. Such figures:

have not been officially published by the Company,

have not been approved by the Board of Directors,

and are hereby withdrawn in their entirety and should not be regarded or relied upon as guidance, financial forecasts, or corporate targets of the Company.

Subgen AI acknowledges the error and expressly clarifies that the information referred to above does not reflect financial projections approved by the Company. The Company will review its internal procedures for the preparation and approval of public communications in order to prevent recurrence.

The corporate description should read as follows:

“Subgen AI (Nasdaq First North: SUBGEN) is a Stockholm-headquartered enterprise AI company serving clients in healthcare, financial services, energy, and the public sector across Europe, the United States, and Latin America. Its flagship platform, Serenity Star, enables organisations to deploy, govern, and scale generative AI with full EU AI Act compliance and data sovereignty.”

For further information, please contact:
Lorenzo Serratosa, CEO Subgen AI AB
Email: ir@subgen.ai

About Subgen AI
Subgen AI (Nasdaq First North: SUBGEN) is a Stockholm-headquartered enterprise AI company serving clients in healthcare, financial services, energy, and the public sector across Europe, the United States, and Latin America. Its flagship platform, Serenity Star, enables organisations to deploy, govern, and scale generative AI with full EU AI Act compliance and data sovereignty. For more information, visit https://subgen.ai.

The Company’s Certified Adviser is Eminova Fondkommission AB | adviser@eminova.se.”

This information is information that Subgen AI 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 2026-05-09 10:45 CEST.

Attachments
Correction of previously published statements regarding financial targets

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