Announcement no. 38/2026

Interim Report Q2 2026

Sveinn Sölvason, President and CEO, comments:

“Sales in Q2 2026 were USD 259 million, representing 11% reported growth and 6% organic growth. Strong double-digit Prosthetics & Neuro Orthotics growth in Q2, supported by excellent execution, robust volume growth in EMEA and APAC, and successful new product launches. Bracing & Supports delivered moderate growth in the quarter, while Patient Care declined.

In Patient Care, we continue to see encouraging progress, with most of our clinics delivering increased productivity and profitability. However, Q2 sales remained below expectations due to timing effects and challenging market dynamics in selected key European markets. As these factors continue to normalize, management remains confident that performance will improve over the coming periods and gradually return to growth broadly in line with the structural growth of the O&P industry.

The EBITDA margin was strong at 22% in Q2 2026, up 1%-point from Q2 2025, reflecting solid sales contribution from Prosthetics & Neuro Orthotics, continued cost discipline, and US tariff refunds.

Based on our first half performance and expectations for stronger growth in H2 2026, we are narrowing our full-year organic sales growth guidance to 5-7% (previously 5-8%). We reiterate our EBITDA margin guidance of 20-22%.”

Highlights Q2 2026

Sales amounted to USD 259m, growing 11% reported, 6% organically and 9% in local currencies incl. M&A.
Organic sales growth by segment: Prosthetics & Neuro Orthotics +12%, Bracing & Supports +1%, Patient Care -2%.
Gross profit margin was 63%, compared to 62% in Q2 2025. The gross profit margin in the quarter was positively impacted by strong sales in Prosthetics & Neuro Orthotics and net US tariff refunds USD 3 million.
EBITDA amounted to USD 58 million, corresponding to a margin of 22% of sales, up from 21% in Q2 2025. The margin increase was driven by a higher gross profit margin and continued SG&A cost discipline.
Net profit was USD 29 million and increased by 39% compared to Q2 2025 with a net profit margin of 11%. The increase was driven by growing operating results and lower net financial expenses than in the comparable quarter.
Free cash flow amounted to USD 31 million or 12% of sales, compared to 5% of sales in Q2 2025. Free cash flow was solid in the quarter, benefitted from strong operating results, lower net working capital investments than in the comparable quarter and moderate CAPEX.
NIBD/EBITDA before special items was 2.2x at the end of Q2 2026, which is within our target range of 2-3x EBITDA. During Q2 2026, Embla Medical bought back 1,323,653 shares at a market value of USD 5.5 million. The existing Share Buyback Program concluded on 17 July 2026. A new share buyback program of up to 2 million shares initiated on 20 July 2026

Other highlights

At the OTWorld Congress in Leipzig in May, Embla Medical’s full brand portfolio was on display, with Össur, College Park, Fior & Gentz, Streifeneder and ForMotion all represented at the industry’s largest global trade fair. The event attracted more than 21,000 visitors from 92 countries, generating strong engagement with healthcare professionals and industry decision makers.
All patient care facilities included in the rollout program have now transitioned to the ForMotion brand, marking an important milestone in our patient care transformation uniting our global clinic network under a single, patient-centered brand.
Six new innovations launched during Q2 2026 across Prosthetics, Neuro orthotics and Bracing & Supports (detailed overview on page 9).
Progress according to plan in developing our first dedicated microprocessor knee for less-mobile users (K2). A fully integrated system prototype has been successfully assembled for upcoming verification and validation activities. On track towards launch in late 2027.

2026 Outlook

Organic sales growth guidance narrowed to 5-7% (previously 5-8%).
EBITDA margin before special items guidance is unchanged at 20-22%.

*Potential impact from US trade tariffs continues to be an uncertain element to quantify given the frequent changes in the global tariff environment. Consequently, we deem it too speculative to quantify and guide an exact impact from potential tariffs on Embla Medical’s financial results, but some absorption of tariffs is assumed in the guidance

Q2 2026 Report

The Interim Report for Q2 2026 is available through following link: Q2 2026 Report

Conference call details

Embla Medical will host a conference call on July 21, 2026, at 9:00 CET / 7:00 GMT / 3:00 ET.

To actively participate in the telephone conference, please use the dial-in details provided below:

DK: +45 78 76 84 90

UK: +44 20 3769 6819

US: +1 646 787 0157

Participant access code: 274982

The webcast will be available through following link: Embla Medical Q2 2026 webcast

Our updated Q2 2026 investor road show presentation can be downloaded at the following link:

Embla Medical Roadshow presentation Q2 2026

Financial calendar and events 2026

July 21, 2026	Interim Report Q2 2026
July 21, 2026	Q2 2026 Presentation & Q&A, virtual (HC Andersen Capital)
July 21, 2026	Q2 2026 US Virtual Investor Road Show (Danske Bank)
August 26, 2026	Hamburg Investor Days, Montega, Hamburg
September 2, 2026	Dansk Aktionær Forening Investor Event (Retail), Fredericia
September 10, 2026	Goldman Sachs Medtech Conference, London
September 15, 2026	Berenberg Nordic Seminar, Madrid
September 23, 2026	Bank of America Global Healthcare Conference, London
October 20, 2026	Interim Report Q3 2026
October 20, 2026	Q3 2026 Presentation & Q&A, virtual (HC Andersen Capital)
October 20, 2026	Q3 2026 Investor Road Show, Copenhagen (Danske Bank)
November 10, 2026	Berenberg Nordic Seminar, Paris
November 18-19, 2026	Jefferies Global Healthcare Conference, London
November 24. 2026	Aktie-Info Investor event (retail), Kolding
November 26, 2026	Danske Bank Winter Seminar, Copenhagen
February 2, 2027	Q4 Report 2026 & 2026 Annual Report

Further information

Klaus Sindahl, Head of Investor Relations, KSindahl@emblamedical.com, +45 5363 0134

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Forward-looking statements

This press release includes "forward-looking statements" which involve risks and uncertainties that could cause actual results to differ materially from results expressed or implied by these statements. Embla Medical undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.

About Embla Medical

Embla Medical (Nasdaq Copenhagen: EMBLA) is a leading global provider of innovative mobility solutions that help people live a Life Without Limitations®. Embla Medical is home to several leading brands renowned for positively impacting people's health and well-being. They include Össur, a leading global provider of prosthetics and bracing solutions; Fior & Gentz, an innovative developer of neuro orthotics; College Park, a provider of lower limb prosthetics; and ForMotion, a global network of Orthotic and Prosthetic (O&P) patient care facilities. Embla Medical is committed to sustainable business practices, is a signatory to the UN Global Compact and UN Women’s Empowerment Principles and contributes to the UN Sustainable Development Goals. The company's climate targets have been verified by the Science Based Targets initiative. Embla Medical operates globally and has around 4,500 employees. www.emblamedical.com

Embla Medical hf: Interim Report Q2 2026