Income tax expense reported in the consolidated statement of operations ( 8,197 ) ( 3,699 ) ( 8,895 ) Reconciliation of tax expense and the accounting loss multiplied by Sweden’s corporate tax rate: 2025 2024 2023 Accounting loss before tax ( 144,918 ) ( 198,573 ) ( 408,165 ) At Sweden’s corporate income tax rate of 20,6 % 29,853 40,906 84,082 Effect of tax rates in foreign

filing / Mar 13, 2026 / receipt

He currently also serves as the Chief Financial Officer of China Resources Enterprise Limited since April 2025. Mr. Ma joined China Resources in 2010 where he served as the Deputy General Manager in the Finance Department from February 2019 to April 2025.

filing / Mar 13, 2026 / receipt

Accordingly, we may not succeed in increasing our revenue and margins sufficiently to offset any potential increased expenses and costs of goods sold, and we may not be able to adjust or reduce our operating expenses quickly enough and thus may not be able to achieve or sustain profitability, and we may incur significant losses in the future.

filing / Mar 13, 2026 / receipt

For example, inflationary pressures also increase the cost of living, which decreases consumers’ disposable income and could impact consumers’ discretionary spending habits or willingness to purchase our products, which could reduce consumer demand for the products that we offer and negatively impact our revenues and operating cash flows.

filing / Mar 13, 2026 / receipt

Given our focus on international expansion, competitors who are only present in certain markets may be able to move more quickly than we do.

filing / Mar 13, 2026 / receipt

We intend to continue to expand our global footprint in order to enter into new markets. While we currently enter new markets in ways that allow us to maintain control over building the distribution and launching of our brand, as we continue to expand our global footprint, this may involve expanding into countries beyond those in which we currently operate and may involve expanding into less developed countries, whic

filing / Mar 13, 2026 / receipt

Jean-Christophe Flatin | 57 | Chief Executive Officer

filing / Mar 13, 2026 / receipt

Marie-José David | 54 | Chief Financial Officer

filing / Mar 13, 2026 / receipt

Daniel Ordoñez | 57 | Global President & Chief Operating Officer

filing / Mar 13, 2026 / receipt

Eric Melloul | 57 | Board Member (Chairperson)

filing / Mar 13, 2026 / receipt

Benjamin Black | 37 | Board Member

filing / Mar 13, 2026 / receipt

Martin Brok | 59 | Board Member

filing / Mar 13, 2026 / receipt