Significant events during the second quarter

New CEO and new company name
Markus Johansson was appointed CEO of the company. Terranet also changed its name to BlincVision,
a name that more clearly reflects the company’s identity and business.

Commercial progress
Two new evaluation agreements were signed, one in the defence sector and one in advanced electronics.
At the same time, the results from completed evaluations were positive, and discussions about
the next steps progressed further. An MVP of BlincVision was also showcased on Jakob Mining Vehicles’
newly launched TerraCharge mining vehicle at The Electric Mine 2026 in Lisbon.

Directed share issue strengthens commercialisation
The company completed a directed share issue of approximately SEK 11.8 million. The proceeds will be
used to accelerate the commercialisation of BlincVision through intensified business development,
customer-specific adaptations of the system and strategic partnerships.

Significant events after the end of the period

Next steps with defence partner
Following a positive evaluation, BlincVision and a partner in the defence sector are
continuing discussions about the next steps, with a focus on further testing in a specific application
and a more realistic environment.

Financial overview

Comment from the CEO
There is a lot of energy at BlincVision, and a lot is happening. We have a new name that better reflects who we are and what we do. Our ongoing and completed evaluations have led to deeper discussions and opportunities to continue working on specific applications.

My first impressions
I have taken on the role of CEO of BlincVision with great enthusiasm. My time so far has been about getting to know the company and the people behind it. I have also had many valuable conversations with the Board and shareholders. These discussions have given me a broader view of both the opportunities ahead and the choices we need to make.

What stands out most to me is the strong drive to find solutions and make things happen. I see people taking initiative, sharing their knowledge and turning ideas into real improvements. We will build on this strength as we continue to develop the technology and move our discussions forward.

Learning starts with the customer
I strongly believe in learning by doing. It is when we test the technology in specific applications that we gain a deeper understanding of the actual needs and can continue to develop the solution.

Every interaction with a potential customer gives us valuable knowledge. Evaluations and tests provide insights that we take directly into both technology development and our continued work with customers. In this way, technology development and business development go hand in hand. During the quarter, we have taken several steps in this direction. We have initiated two new evaluations, one in defence and one in advanced electronics.

I want to stay close to customer discussions. An important part of my role as CEO is to meet potential customers, understand their needs and work with the team to drive business development forward. It is also a part of my work that I am really looking forward to. The evaluations we carry out also give us data from real applications. This knowledge allows us to develop the technology based on how it is actually used and focus our work where it can make the biggest difference. Completed evaluations have received positive feedback and led to more in-depth discussions about the next steps. Following the end of the quarter, we have also moved forward with one of our partners in the defence sector for further testing in a specific application. The defence sector is a rapidly evolving market. A changing geopolitical environment is driving increased investment and growing interest in new technological solutions. We see BlincVision’s low latency and rapid detection capabilities as relevant across several types of applications.

Choosing where we create the most value
BlincVision has developed an advanced technology platform and built deep technical expertise. During the quarter, we have tested the technology in different areas, from autonomous systems and defence to exploring how our data can be used together with neuromorphic systems. This gives us a broader understanding of different needs and applications and helps us focus our efforts where our technology solves clear problems and has the greatest commercial potential.

We are working with both the short and long term in mind. We will continue to develop the potential of our technology within driver assistance systems, while also focusing on specific applications where there is a clear customer need and opportunities to build business in the shorter term.

We cannot do everything at once, and we should not try to. This autumn, we will therefore deepen our work in the areas where we see the greatest potential and make clear choices about where to focus our efforts.

Moving forward with clear direction
We will combine curiosity with focus and ambition with realism. We will continue to test, learn and use that knowledge to take the next step.

We are seeing increased interest in our technology for so-called retrofit applications, where the technology is integrated into existing vehicles or systems rather than built in from the outset. This could provide a shorter route to market and is an area we will continue to explore together with potential customers and partners. Our intention to secure commercial agreements during 2026 remains unchanged.

The road ahead will not always be straightforward, but the direction is clear. We know what we want to achieve, and I am confident that we have the technology, expertise and drive to move BlincVision forward.

Finally, I would like to thank our employees, the Board and our shareholders for the warm welcome I have received. I look forward to continuing this journey together with the entire team around BlincVision. Everyone contributes an important piece, and together we will continue to develop our BlincVision sensor technology and create long-term value.

Markus Johansson
CEO
Lund, 19 August 2026