Minesto AB (publ)

Hello, and a warm welcome to today's broadcast with Minesto, who will be presenting the report for the second quarter of 2026. With us, we have CEO Martin Edlund and CFO Alexander Jahnke. Welcome. At the end of the broadcast, we will have a Q&A session, so if you would like to ask questions, you can do so by the form found to the right of the broadcast. And with that said, I hand it over to you guys. I'll be back when the time for the Q&A. The floor is yours.

Thank you, Elliot. And let's start with our CFO, Alexander Jahnke.

Yes. Hi, thank you. And hello, everyone. We will start with the financials for the first half of 2026, where I first will go through some key highlights of the profit and loss and then adding the cash flow before I hand over to Martin again. So starting with profit and loss, Turning to our financial performance for the first half of 2026, we continue to see a positive effect of the cost optimization measures implemented during the past year. Operating loss improved to 15.4 million compared to 20.5 million in the same period last year. representing an improvement of approximately 25%. And the total operating expenses decreased by 18% year on year from 32.7 million to 26.7 million. Personal costs were redacted from 21.8 million to 18.0 million as a result of the more focused organization and increased efficiency. Importantly, these improvements have been achieved while maintaining strong technology development, operational achievements in the Faroe Islands, which Martin is going to talk a bit more about later on, and growing commercial activity. And overall, we continue to strengthen the financial foundation of the company while preparing for future commercial deployments. And for the next slide, looking at cash flow and financial position. You can just change slide there, Martin. Our strategy remains unchanged. Disciplined investment in activities that advance technology performance and commercial deployments. So operating cash flow improved compared to last period, the same period last year. with cash use in operating activities decreased from 25.1 million to 15.2 million. Investment remained focused and milestone driven, totaling 14.2 million during the first half of the year, primarily related to technology development and intellectual property. At the end of June, cash-in-cash equivalent amounted to 38.4 million. Our financial position supports our continued execution of operational and commercial priorities. And so then to summarize the first half of 2026, it demonstrates the continued progress in improving operational efficiency, lowering our underlying cost base and maintaining financial discipline. At the same time, we continue to invest selectively in activities that create long-term shareholder value and support the commercialization of our technology. So with that said, I hand over to you again, Martin.