The Swedish Tax Agency grants a deferment of the income tax payment pursuant to Chapter 63, Section 4 of the Tax Procedure Act on the grounds that it is doubtful how large an amount will need to be paid. According to the legislative history, the "doubtful" standard of proof means that it should in principle be approximately equally likely that the tax is reduced as it is upheld, even if the assessment does not need to be completely balanced. Deferment of the tax surcharge is granted pursuant to Chapter 63, Section 7 of the Tax Procedure Act.

On October 9, 2026, the Swedish Tax Agency announced that deferment of income tax could only be granted against a bank guarantee and granted, pending the security issue, a temporary deferment until November 12, 2026. The decision means that the previous requirement for a bank guarantee no longer applies and that deferment of income tax is granted without a requirement for security.

The Company appealed the Swedish Tax Agency's decision in the transfer pricing case on September 29, 2026, and submitted a complete supplement to the appeal on November 9, 2026. The Swedish Tax Agency will now reconsider the appealed tax decision before the case is referred to the Administrative Court in Stockholm.

The Company is conducting the legal proceedings in both ongoing tax cases with KPMG as process agent and advisor. KPMG was previously retained to handle the Company's ongoing tax cases and is assisting the Company in the continued legal review.

The deferment decision covers a total of approximately SEK 44.1 million in income tax and tax surcharges. The previously communicated total payment demand in the transfer pricing case of approximately SEK 48.1 million additionally included interest of approximately SEK 3.9 million. Through the decision, the Swedish Tax Agency has also granted the Company compensation for representation costs in the amount of SEK 48,400 excluding value-added tax.

The Company thus has deferment without security for the tax and tax surcharge amounts covered by the two ongoing tax proceedings.

In addition to the decision, the Administrative Court in Stockholm, by judgment on October 15, 2026, granted deferment without security for value-added tax of approximately SEK 21.8 million for the financial year 2021/2022.

In the VAT case, the Administrative Court made a significant preliminary assessment for the Company and applied the law's exception to the security requirement when "it can be assumed that the tax or fee will not need to be paid". The Administrative Court's assessment does not mean that the underlying tax issue is conclusively decided, but means that the court within the scope of the deferment review considered that the conditions for this exception from the security requirement were met. The associated tax surcharge of approximately SEK 4.4 million was previously covered by a deferment.

The Company can thus pursue both proceedings further on the merits without the relevant tax and tax surcharge amounts having to be paid first or security being posted for them.

“The decision is both an important and welcome piece of news. The Company now has deferment in both ongoing tax proceedings, and we can thus pursue the issues on the merits calmly and with full force, without the review being preceded by payment or posting of security, says Peter Liljeroos”, CEO of Valuno Group AB (publ).

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For further information, please contact:
Peter Liljeroos, CEO, Valuno Group AB (publ)
+46 10-2007655
investor@valuno.com

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About Valuno Group AB:
Valuno Group AB (publ) is a Stockholm-based company listed on NGM Nordic SME, developing infrastructure for modern cross-border payments. Its Atlas platform connects bank money, stablecoins and blockchain settlement through an intelligent orchestration layer – enabling businesses to move money across borders faster, more transparently and cost-effectively. Valuno was founded in 2016 and has been listed since 2019. For more information, visit www.investor.valuno.com.