Inside information: Chief Financial Officer Tuukka Paavola will leave the company

Bioretec Ltd, Inside Information, 2 July 2026 at 14.30 EEST

Bioretec Ltd and Tuukka Paavola have mutually agreed that Paavola will not continue in his position. Paavola will leave his role with immediate effect. The duties of the Chief Financial Officer will be assumed on an interim basis by Controller Anna-Mari Venola until a new Chief Financial Officer is appointed.

Bioretec will immediately initiate the recruitment process for a new Chief Financial Officer.

Paavola started in the position on January 20, 2026.

Bioretec thanks Tuukka Paavola for his contribution as Chief Financial Officer and wishes him success in his future endeavors.

Further enquiries

Sarah van Hellenberg Hubar-Fisher, CEO, +31 6 1544 8736

Certified adviser

Nordic Certified Adviser AB, +46 70 551 67 29

Information about Bioretec

Bioretec is a globally operating Finnish medical device pioneer at the forefront of transforming orthopedic care with fully biodegradable implant technologies. The company has built unique competencies in the biological interface of active implants to enhance bone growth and accelerate fracture healing after orthopedic surgery. The products developed and manufactured by Bioretec are used worldwide in approximately 40 countries.

The company's latest innovation, the RemeOs™ product line, is based on a high-performance magnesium alloy and hybrid composite, introducing a new generation of strong absorbable materials for enhanced surgical outcomes. The RemeOs implants are absorbed and replaced by bone, which eliminates the need for removal surgery while facilitating fracture healing. The first RemeOs product market authorization was received in the U.S. in March 2023, and in Europe, the CE mark approval was received in January 2025.

Bioretec's Activa product line features fully bioabsorbable orthopedic implants made from a proprietary, self-reinforced PLGA both CE marked and FDA cleared for a wide range of indications in adult and pediatric patients.

Bioretec is shaping the future of orthopedic treatment with a focus on healing through absorption, paving the way for more effective and patient-friendly solutions.

To learn more about Bioretec, visit www.bioretec.com

Bioretec appoints Conan Cavanagh as Head of Research & Development and member of the Management Team

Bioretec Ltd | Press Release | 17 June 2026 at 16:00 EEST

Bioretec Ltd, a pioneer in absorbable orthopedic implants, has appointed Conan Cavanagh as Head of Research & Development and as a member of the management team as of 1 September 2026. Cavanagh will report directly to CEO Sarah van Hellenberg Hubar-Fisher.

Conan Cavanagh has over 25 years of experience in the development of medical devices, biomaterials, and product commercialization. He currently serves as Chief Operating Officer and Head of Research & Development at HidraMed Solutions. Previously, among other positions, he has served as Engineering Director at Smith & Nephew, where he was broadly responsible for the development and commercialization of orthopedic and sports medicine products.

Cavanagh has a bachelor’s degree in biomedical engineering and also holds a master’s degree in management. He has extensive experience across the full lifecycle of product development, from concept generation to commercialization. In addition, he has deep expertise in clinical studies, regulatory processes and intellectual property management.

In his new role at Bioretec, Cavanagh will be responsible for the company’s research and development strategy, management of the product portfolio, and the execution of the product development program. He will have a central role in strengthening Bioretec’s technological development, clinical evidence and regulatory readiness, as well as in supporting the company’s long-term growth and international competitiveness.

“I am very pleased to be joining Bioretec’s team at this important stage and to have the opportunity to advance the company’s growth through innovation and new technology,” says Conan Cavanagh.

“We are thrilled to welcome Conan Cavanagh to Bioretec. We look forward to his leadership and input as we continue on our mission to become the global market leader in absorbable orthopedic implants. Conan joins us at a pivotal and exciting stage in the company’s development, and we are excited to see his significant contribution to executing our strategy, advancing our technology and supporting our international growth,” says CEO Sarah van Hellenberg Hubar-Fisher.

Further enquiries

Sarah van Hellenberg Hubar-Fisher, CEO, +31 6 1544 8736

Certified adviser

Nordic Certified Adviser AB, +46 70 551 67 29

Information about Bioretec

Bioretec is a globally operating Finnish medical device pioneer at the forefront of transforming orthopedic care with fully biodegradable implant technologies. The company has built unique competencies in the biological interface of active implants to enhance bone growth and accelerate fracture healing after orthopedic surgery. The products developed and manufactured by Bioretec are used worldwide in approximately 40 countries.

The company's latest innovation, the RemeOs™ product line, is based on a high-performance magnesium alloy and hybrid composite, introducing a new generation of strong absorbable materials for enhanced surgical outcomes. The RemeOs implants are absorbed and replaced by bone, which eliminates the need for removal surgery while facilitating fracture healing. The first RemeOs product market authorization was received in the U.S. in March 2023, and in Europe, the CE mark approval was received in January 2025.

Bioretec's Activa product line features fully bioabsorbable orthopedic implants made from a proprietary, self-reinforced PLGA both CE marked and FDA cleared for a wide range of indications in adult and pediatric patients.

Bioretec is shaping the future of orthopedic treatment with a focus on healing through absorption, paving the way for more effective and patient-friendly solutions.

To learn more about Bioretec, visit www.bioretec.com

Bioretec appoints Conan Cavanagh as Head of Research & Development and member of the Management Team

Bioretec Ltd | Press Release | 17 June 2026 at 16:00 EEST

Bioretec Ltd, a pioneer in absorbable orthopedic implants, has appointed Conan Cavanagh as Head of Research & Development and as a member of the management team as of 1 September 2026. Cavanagh will report directly to CEO Sarah van Hellenberg Hubar-Fisher.

Conan Cavanagh has over 25 years of experience in the development of medical devices, biomaterials, and product commercialization. He currently serves as Chief Operating Officer and Head of Research & Development at HidraMed Solutions. Previously, among other positions, he has served as Engineering Director at Smith & Nephew, where he was broadly responsible for the development and commercialization of orthopedic and sports medicine products.

Cavanagh has a bachelor’s degree in biomedical engineering and also holds a master’s degree in management. He has extensive experience across the full lifecycle of product development, from concept generation to commercialization. In addition, he has deep expertise in clinical studies, regulatory processes and intellectual property management.

In his new role at Bioretec, Cavanagh will be responsible for the company’s research and development strategy, management of the product portfolio, and the execution of the product development program. He will have a central role in strengthening Bioretec’s technological development, clinical evidence and regulatory readiness, as well as in supporting the company’s long-term growth and international competitiveness.

“I am very pleased to be joining Bioretec’s team at this important stage and to have the opportunity to advance the company’s growth through innovation and new technology,” says Conan Cavanagh.

“We are thrilled to welcome Conan Cavanagh to Bioretec. We look forward to his leadership and input as we continue on our mission to become the global market leader in absorbable orthopedic implants. Conan joins us at a pivotal and exciting stage in the company’s development, and we are excited to see his significant contribution to executing our strategy, advancing our technology and supporting our international growth,” says CEO Sarah van Hellenberg Hubar-Fisher.

Further enquiries

Sarah van Hellenberg Hubar-Fisher, CEO, +31 6 1544 8736

Certified adviser

Nordic Certified Adviser AB, +46 70 551 67 29

Information about Bioretec

Bioretec is a globally operating Finnish medical device pioneer at the forefront of transforming orthopedic care with fully biodegradable implant technologies. The company has built unique competencies in the biological interface of active implants to enhance bone growth and accelerate fracture healing after orthopedic surgery. The products developed and manufactured by Bioretec are used worldwide in approximately 40 countries.

The company's latest innovation, the RemeOs™ product line, is based on a high-performance magnesium alloy and hybrid composite, introducing a new generation of strong absorbable materials for enhanced surgical outcomes. The RemeOs implants are absorbed and replaced by bone, which eliminates the need for removal surgery while facilitating fracture healing. The first RemeOs product market authorization was received in the U.S. in March 2023, and in Europe, the CE mark approval was received in January 2025.

Bioretec's Activa product line features fully bioabsorbable orthopedic implants made from a proprietary, self-reinforced PLGA both CE marked and FDA cleared for a wide range of indications in adult and pediatric patients.

Bioretec is shaping the future of orthopedic treatment with a focus on healing through absorption, paving the way for more effective and patient-friendly solutions.

To learn more about Bioretec, visit www.bioretec.com

Bioretec concludes change negotiations

Bioretec Ltd, Press Release, 17 June 2026 at 9:00 EEST

On 1 June 2026, Bioretec announced the initiation of change negotiations in accordance with the Finnish Act on Co-operation within Undertakings, focusing on the company’s production function in Finland. The aim of the negotiations was to streamline operations and consequently to improve the company’s competitiveness and profitability.

The negotiations began on 8 June 2026 and were concluded today.

At the start of the negotiations, the company estimated that the plans may impact the terms of employment of up to four individuals in Finland. As a result of the negotiations, the employment of three employees will be terminated.

A total of 12 employees from Bioretec’s staff in Finland were included in the scope of the negotiations.

Further enquiries

Tuukka Paavola, CFO, +358 50 386 0013

Information about Bioretec

Bioretec is a globally operating Finnish medical device pioneer at the forefront of transforming orthopedic care with fully biodegradable implant technologies. The company has built unique competencies in the biological interface of active implants to enhance bone growth and accelerate fracture healing after orthopedic surgery. The products developed and manufactured by Bioretec are used worldwide in approximately 40 countries.

The company's latest innovation, the RemeOs™ product line, is based on a high-performance magnesium alloy and hybrid composite, introducing a new generation of strong absorbable materials for enhanced surgical outcomes. The RemeOs implants are absorbed and replaced by bone, which eliminates the need for removal surgery while facilitating fracture healing. The first RemeOs product market authorization was received in the U.S. in March 2023, and in Europe, the CE mark approval was received in January 2025.

Bioretec's Activa product line features fully bioabsorbable orthopedic implants made from a proprietary, self-reinforced PLGA both CE marked and FDA cleared for a wide range of indications in adult and pediatric patients.

Bioretec is shaping the future of orthopedic treatment with a focus on healing through absorption, paving the way for more effective and patient-friendly solutions.

To learn more about Bioretec, visit www.bioretec.com

Bioretec Ltd – Manager’s transactions – van Hellenberg Hubar-Fisher

Bioretec Ltd Company release 4 June 2026 at 14:25 p.m. EEST

Bioretec Ltd - Managers' Transactions

____________________________________________

Person subject to the notification requirement

Name: Sarah van Hellenberg Hubar-Fisher

Position: Chief Executive Officer

 Issuer: Bioretec Oy

LEI: 7437008736AG7HY51K13

Notification type: INITIAL NOTIFICATION

Reference number: 159307/6/8

____________________________________________

Transaction date: 2026-06-02

Venue: FIRST NORTH GROWTH MARKET FINLAND (FSME)

Instrument type: SHARE

ISIN: FI4000480454

Nature of transaction: ACQUISITION

Transaction details

(1): Volume: 1660000 Unit price: 0.02258 EUR

Aggregated transactions (1):

Volume: 1660000 Volume weighted average price: 0.02258 EUR

Further enquiries

Tuukka Paavola, CFO, +358 50 386 0013

Certified adviser

Nordic Certified Adviser AB, +46 70 551 67 29

Information about Bioretec

Bioretec is a globally operating Finnish medical device pioneer at the forefront of transforming orthopedic care with fully biodegradable implant technologies. The company has built unique competencies in the biological interface of active implants to enhance bone growth and accelerate fracture healing after orthopedic surgery. The products developed and manufactured by Bioretec are used worldwide in approximately 40 countries.

The company's latest innovation, the RemeOs™ product line, is based on a high-performance magnesium alloy and hybrid composite, introducing a new generation of strong absorbable materials for enhanced surgical outcomes. The RemeOs implants are absorbed and replaced by bone, which eliminates the need for removal surgery while facilitating fracture healing. The first RemeOs product market authorization was received in the U.S. in March 2023, and in Europe, the CE mark approval was received in January 2025.

Bioretec's Activa product line features fully bioabsorbable orthopedic implants made from a proprietary, self-reinforced PLGA both CE marked and FDA cleared for a wide range of indications in adult and pediatric patients.

Bioretec is shaping the future of orthopedic treatment with a focus on healing through absorption, paving the way for more effective and patient-friendly solutions.

To learn more about Bioretec, visit www.bioretec.com

Bioretec Ltd – Manager’s transactions – Jordy Winters

Bioretec Oy Company release 2 June 2026 at 13:25 p.m. EEST

Bioretec Oy - Managers' Transactions

____________________________________________

Person subject to the notification requirement

Name: Jordy Winters

Position: Other senior manager

 Issuer: Bioretec Oy

LEI: 7437008736AG7HY51K13

Notification type: INITIAL NOTIFICATION

Reference number: 158959/6/4

____________________________________________

Transaction date: 2026-05-29

Venue: FIRST NORTH GROWTH MARKET FINLAND (FSME)

Instrument type: SHARE

ISIN: FI4000480454

Nature of transaction: ACQUISITION

Transaction details

(1): Volume: 50000 Unit price: 0.0224 EUR

(2): Volume: 109000 Unit price: 0.0224 EUR

(3): Volume: 82596 Unit price: 0.0224 EUR

(4): Volume: 2849 Unit price: 0.0224 EUR

(5): Volume: 200000 Unit price: 0.0224 EUR

(6): Volume: 555555 Unit price: 0.0224 EUR

Aggregated transactions (6):

Volume: 1000000 Volume weighted average price: 0.0224 EUR

Further enquiries

Tuukka Paavola, CFO, +358 50 386 0013

Certified adviser

Nordic Certified Adviser AB, +46 70 551 67 29

Information about Bioretec

Bioretec is a globally operating Finnish medical device pioneer at the forefront of transforming orthopedic care with fully biodegradable implant technologies. The company has built unique competencies in the biological interface of active implants to enhance bone growth and accelerate fracture healing after orthopedic surgery. The products developed and manufactured by Bioretec are used worldwide in approximately 40 countries.

The company's latest innovation, the RemeOs™ product line, is based on a high-performance magnesium alloy and hybrid composite, introducing a new generation of strong absorbable materials for enhanced surgical outcomes. The RemeOs implants are absorbed and replaced by bone, which eliminates the need for removal surgery while facilitating fracture healing. The first RemeOs product market authorization was received in the U.S. in March 2023, and in Europe, the CE mark approval was received in January 2025.

Bioretec's Activa product line features fully bioabsorbable orthopedic implants made from a proprietary, self-reinforced PLGA both CE marked and FDA cleared for a wide range of indications in adult and pediatric patients.

Bioretec is shaping the future of orthopedic treatment with a focus on healing through absorption, paving the way for more effective and patient-friendly solutions.

To learn more about Bioretec, visit www.bioretec.com

The Board of Directors of Bioretec Ltd resolved on a new stock option plan

Bioretec Ltd Company Announcement     1 June 2026 at 19:05 p.m. EEST

THE BOARD OF DIRECTORS OF BIORETEC LTD RESOLVED ON A NEW STOCK OPTION PLAN

The Board of Directors of Bioretec Ltd has resolved to establish a new stock option plan for key personnel and selected consultants of the Group. There is a weighty financial reason for the Company to issue stock options, as they are intended to form part of the incentive and commitment program for the Group's key personnel and consultants. The stock options are intended to encourage the participants to work on a long-term basis to increase shareholder value and to commit the participants to the service of the Company. The stock option plan is directed to approximately 30 key persons and consultants.

A maximum total of 182,970,807 stock options will be issued, entitling their owners to subscribe for a maximum total of 182,970,807 new shares in the Company or existing shares held by the Company. The stock options are issued gratuitously. Of the stock options, 96,059,674 are marked with the symbol 2026A and 86,911,133 are marked with the symbol 2026B.

The shares to be subscribed for on the basis of the issued stock options correspond to a maximum total of 12 per cent of all the shares and votes in the Company after potential share subscriptions, should new shares be issued in the subscription. As a result of the share subscriptions, the number of shares in the Company may increase by a maximum total of 182,970,807 shares, should new shares be issued in the subscription.

The stock options vest gradually over four years, subject to continued employment or service. After a 12-month cliff, 40 per cent of the 2026A options and 25 per cent of the 2026B options will vest. The remaining options of both classes will vest in equal quarterly instalments over the subsequent three years.

The share subscription price for stock options 2026A and 2026B is the volume-weighted average share price (VWAP) of the Company's share during the period of one (1) month commencing on April 29, 2026, plus a 20 per cent premium.

The share subscription price will be credited to the reserve for the Company's invested unrestricted equity. The share subscription price will be reduced by the amount of dividends and assets from reserves of unrestricted equity per share resolved after the Board’s resolution but before the share subscription.

The share subscription period for the stock options starts when options vest and ends on May 31, 2032, for both stock options 2026A and 2026B.

The theoretical market value of one stock option is EUR 0.0172 per stock option. The total theoretical market value of all stock options is approximately EUR 3,147,098. The theoretical market value of one stock option has been calculated using the Black & Scholes stock option pricing model, taking into account the exercise price of the stock option and the following assumptions: share price EUR 0.0226, risk-free interest rate 2.77%, time to maturity approximately six years, current dividend yield 0% and volatility approximately 89.60%.

The Board of Directors resolved on the new stock option plan by virtue of an authorisation granted by the Extraordinary General Meeting of Shareholders on March 27, 2026.

Contacts

Kustaa Poutiainen, Chairperson of the Board, +358 40 042 4506

Certified adviser

Nordic Certified Adviser AB, +46 70 551 67 29

Information about Bioretec

Bioretec is a globally operating Finnish medical device pioneer at the forefront of transforming orthopedic care with fully biodegradable implant technologies. The company has built unique competencies in the biological interface of active implants to enhance bone growth and accelerate fracture healing after orthopedic surgery. The products developed and manufactured by Bioretec are used worldwide in approximately 40 countries.

The company's latest innovation, the RemeOs™ product line, is based on a high-performance magnesium alloy and hybrid composite, introducing a new generation of strong absorbable materials for enhanced surgical outcomes. The RemeOs implants are absorbed and replaced by bone, which eliminates the need for removal surgery while facilitating fracture healing. The first RemeOs product market authorization was received in the U.S. in March 2023, and in Europe, the CE mark approval was received in January 2025.

Bioretec's Activa product line features fully bioabsorbable orthopedic implants made from a proprietary, self-reinforced PLGA both CE marked and FDA cleared for a wide range of indications in adult and pediatric patients.

Bioretec is shaping the future of orthopedic treatment with a focus on healing through absorption, paving the way for more effective and patient-friendly solutions.

To learn more about Bioretec, visit www.bioretec.com

Inside information: Bioretec initiates new change negotiations in production to enhance operational efficiency

Inside information: Bioretec initiates new change negotiations in production to enhance operational efficiency

Bioretec Ltd — Inside information — 1 June 2026 at 19:00 EEST

Bioretec Ltd initiates change negotiations in accordance with the Finnish Act on Co-operation within Undertakings. The aim of the negotiations is to streamline operations and consequently to improve the company’s competitiveness and profitability. The negotiations will focus on Bioretec’s production function in Finland.

The change negotiations will commence on 8 June 2026 and are estimated to last for approximately two weeks.

A total of 12 employees from Bioretec’s staff in Finland are included in the scope of the negotiations. The negotiations may impact the employment terms of up to four individuals. Potential measures under negotiation may include terminations of employment. The objective of the negotiations is to achieve estimated annual cost savings of approximately EUR 0.2 million, separate from the EUR 0.4 million cost savings target communicated in connection with the previous change negotiations.

As the company communicated on 12 November 2025, Bioretec’s investments in production have proven to be oversized in relation to the realized business development. Bioretec underwent change negotiations concerning its production function in November 2025, resulting in the termination of one production employee and the temporary layoff of five employees. Based on the company’s assessment, the measures implemented thus far are not sufficient on their own to adapt production to the current business volumes. Consequently, the company considers additional measures necessary to further adjust its cost structure.

Bioretec will keep its personnel informed about the progress of the negotiations and will publicly announce the outcome once the negotiations have concluded.

Further enquiries

Tuukka Paavola, CFO, +358 50 386 0013

Certified adviser

Nordic Certified Adviser AB, +46 70 551 67 29

Information about Bioretec

Bioretec is a globally operating Finnish medical device pioneer at the forefront of transforming orthopedic care with fully biodegradable implant technologies. The company has built unique competencies in the biological interface of active implants to enhance bone growth and accelerate fracture healing after orthopedic surgery. The products developed and manufactured by Bioretec are used worldwide in approximately 40 countries.

The company's latest innovation, the RemeOs™ product line, is based on a high-performance magnesium alloy and hybrid composite, introducing a new generation of strong absorbable materials for enhanced surgical outcomes. The RemeOs implants are absorbed and replaced by bone, which eliminates the need for removal surgery while facilitating fracture healing. The first RemeOs product market authorization was received in the U.S. in March 2023, and in Europe, the CE mark approval was received in January 2025.

Bioretec's Activa product line features fully bioabsorbable orthopedic implants made from a proprietary, self-reinforced PLGA both CE marked and FDA cleared for a wide range of indications in adult and pediatric patients.

Bioretec is shaping the future of orthopedic treatment with a focus on healing through absorption, paving the way for more effective and patient-friendly solutions.

To learn more about Bioretec, visit www.bioretec.com

Bioretec Ltd - Managers' transactions - Paavola

Bioretec Ltd Company Release 18 May 2026 at 1:45 p.m. EEST

Bioretec Oy - Managers' Transactions

____________________________________________

Person subject to the notification requirement

Name: Tuukka Paavola

Position: Chief Financial Officer

 Issuer: Bioretec Oy

LEI: 7437008736AG7HY51K13

Notification type: INITIAL NOTIFICATION

Reference number: 157184/4/4

____________________________________________

Transaction date: 2026-05-18

Venue: FIRST NORTH GROWTH MARKET FINLAND (FSME)

Instrument type: SHARE

ISIN: FI4000480454

Nature of transaction: ACQUISITION

Transaction details

(1): Volume: 500000 Unit price: 0.0198 EUR

Aggregated transactions (1):

Volume: 500000 Volume weighted average price: 0.0198 EUR

Further enquiries

Tuukka Paavola, CFO, +358 50 386 0013

Certified adviser

Nordic Certified Adviser AB, +46 70 551 67 29

Information about Bioretec

Bioretec is a globally operating Finnish medical device pioneer at the forefront of transforming orthopedic care with fully biodegradable implant technologies. The company has built unique competencies in the biological interface of active implants to enhance bone growth and accelerate fracture healing after orthopedic surgery. The products developed and manufactured by Bioretec are used worldwide in approximately 40 countries.

The company's latest innovation, the RemeOs™ product line, is based on a high-performance magnesium alloy and hybrid composite, introducing a new generation of strong absorbable materials for enhanced surgical outcomes. The RemeOs implants are absorbed and replaced by bone, which eliminates the need for removal surgery while facilitating fracture healing. The first RemeOs product market authorization was received in the U.S. in March 2023, and in Europe, the CE mark approval was received in January 2025.

Bioretec's Activa product line features fully bioabsorbable orthopedic implants made from a proprietary, self-reinforced PLGA both CE marked and FDA cleared for a wide range of indications in adult and pediatric patients.

Bioretec is shaping the future of orthopedic treatment with a focus on healing through absorption, paving the way for more effective and patient-friendly solutions.

To learn more about Bioretec, visit www.bioretec.com

Bioretec Ltd's business review Q1 2026: Early Traction from Renewed Strategy

Bioretec Ltd. | Company announcement | 15 May 2026 at 9:00 a.m.

This announcement summarizes Bioretec Ltd's business review for January-March 2026. The complete business review is attached to this release as a PDF file and available on the company's website at https://investors.bioretec.com/en/reports_and_presentations.

January–March 2026 in brief

• Net sales amounted to EUR 1,220 thousand (1–3/2025: EUR 1,396 thousand)
• Adjusted sales margin was 70.1% (56.7%) of net sales. From Q1/2026, the company will transition to reporting adjusted sales margin to be aligned with industry reporting standards. Adjusted sales margin comprises the net sales of implants deducted by related cost of sales and extraordinary expenses.  
• EBITDA was EUR -1,375 (-1,236) thousand
• The result for the reporting period amounted to EUR -1,371 (-1,298) thousand
• On March 27, Bioretec announced that the Board of Directors has resolved on a rights issue
• The rights issue was completed after the end of the reporting period. The final results of the rights issue show that a total of 1,286,801,534 new shares were subscribed for in the offering, corresponding to approximately 87.1 per cent of the 1,477,828,416 new shares offered in the offering. The subscription price in the offering was EUR 0.01 per new share. Bioretec receives gross proceeds of approximately EUR 12.9 million from the offering.

Key figures 

¹ From Q1/2026, the company will transition to reporting adjusted sales margin to be aligned with industry reporting standards. The adjusted sales margin describes the profitability of implant sales before commercialization-related expenses, such as sales commissions. Adjusted sales margin comprises the net sales of implants deducted by related cost of sales and extraordinary expenses. Items recognized below the adjusted sales margin will include, among others, commissions and external services considered fixed in nature.

Net sales by geographical area 

CEO Sarah van Hellenberg Hubar-Fisher’s comments

Early traction from renewed strategy

The first quarter of 2026 reflects intentional direction and early traction from the operational and commercial reset initiated in the second half of 2025. Net sales reached EUR 1.2 million, with growth in both the U.S. and Europe reaching 449% and 203.3% respectively for the year-over-year comparison period. This growth is not only volume-driven but structurally healthier: revenue is now supported by a broader mix of customers and distribution partners across key markets. Adjustments to gross margins were made in an effort to align our financial reporting more closely with that of our industry peers, an initiative we identified in 2025 and implemented at the start of this financial year. 

During the quarter, we activated new distribution channels in the U.S. and internationally while expanding our direct customer base. This reduces concentration risk and improves the quality and resilience of our revenue as we scale. The focus is clear – build a commercially robust business in high-value markets with repeatable demand drivers.

Our strategy for 2026–2028 prioritizes disciplined execution, capital efficiency, and continued innovation through the expansion of the RemeOs™ platform. The first quarter of 2026 already provided clear signals that the updated strategy is translating into measurable results. The commercial investments made in late 2025, particularly in leadership and capability building, are accelerating our momentum both in the U.S. and Europe.

We have continued to strengthen our market presence and visibility, particularly in the United States. During the quarter, we further established our Key Opinion Leader (KOL) program, including hosting our first KOL roundtable in January and launching a series of monthly surgeon-led webinars. In addition, we presented at several important industry events, including the AOFAS winter meeting, the ACFAS annual scientific conference, the Canaccord Genuity Musculoskeletal Conference and the AAOS Annual Meeting in New Orleans in March. These activities enhance our engagement with clinical and economic stakeholders and support broader awareness of our technology in the world’s largest medtech market.

Looking ahead, we remain focused on driving commercial growth, advancing launch readiness for our near-term pipeline, and driving operational excellence. Advancing production capabilities and process discipline is a priority to ensure that growth is supported by reliable and efficient delivery.

Successful rights issue supports the next phase of targeted growth

After the reporting period, we successfully completed a rights issue. This strengthens our financial position and provides additional resourcing required to execute the next phase of our targeted growth. Specifically, it allows us to progress the execution of our strategy with a focus on the near-term pipeline, U.S. commercial organization and operational scale. We are greatly encouraged by the outcome of the rights issue and grateful for the continued commitment from our shareholders.

We carry this momentum into 2026 with a strengthened financial base, clear operational priorities, and an organizational focus with an emphasis on execution.

Significant events in January–March 2026

• On January 15, Bioretec announced the appointment of Tuukka Paavola as Chief Financial Officer and part of the management team.
• On February 13, Bioretec announced that its Board of Directors is assessing a potential rights issue in the near future.
• On March 10, Bioretec announced that it is planning a rights issue of at least EUR 5 million and up to EUR 15 million with a maximum of 1,500,000,000 new shares.
• On March 10, Bioretec issued a notice of an Extraordinary General Meeting to be held on March 27, 2026.
• On March 12, Bioretec announced that Chief Technology Officer Timo Lehtonen will transition to the role of External Executive Advisor (Technology & Strategy) and step down from the management team and CTO role as of July 6, 2026. Bioretec is establishing two new dedicated roles to cover the day-to-day operational needs in both product development and clinical affairs, and recruitment efforts are already underway.
• On March 26, Bioretec announced that The Finnish Financial Supervisory Authority has granted Stephen Industries Inc Oy and Kustaa Poutiainen a permanent exemption from the obligation to launch a mandatory public takeover bid relating to the upcoming rights issue.
• On March 27, Bioretec announced the resolutions of the Extraordinary General Meeting and that the Board of Directors has resolved on a rights issue of up to approximately EUR 14.8 million. 

Significant events after the reporting period

• On April 2, Bioretec published an exemption document relating to its rights issue.
• On April 20, Bioretec published the notice to the Annual General Meeting to be held on May 8, 2026.
• On April 23 and April 24, Bioretec published the preliminary and final results of the rights issue, respectively. The final results of the rights issue show that a total of 1,286,801,534 new shares were subscribed for in the offering, corresponding to approximately 87.1 per cent of the 1,477,828,416 new shares offered in the offering. The subscription price in the offering was EUR 0.01 per new share. Bioretec receives gross proceeds of approximately EUR 12.9 million from the offering.
• On April 28, Bioretec announced that 1,286,801,534 new shares subscribed for in the rights issue and 24,196,337 new shares issued to Stephen Industries Inc Oy as underwriting fee pursuant to the underwriting commitment have been registered with the trade register maintained by the Finnish Patent and Registration Office. In addition, Bioretec announced that it adjusts the terms and conditions of its stock option programs due to the completed rights issue.
• On May 8, Bioretec announced the resolutions of the Annual General Meeting and the constitutive meeting of the Board of Directors held on the same date.
• On May 13, Bioretec announced that it clarifies its 2026–2028 financial target regarding the sales margin to concern the adjusted sales margin.

Financial reporting in 2026

In 2026, Bioretec will publish the following financial reports:

• Half-year report for January–June 2026 on Thursday, August 13, 2026
• Business review for January–September 2026 on Thursday, November 12, 2026

The releases will be published as company releases and will be available online on Bioretec’s website at https://investors.bioretec.com/en/reports_and_presentations.

Tampere, May 15, 2026

Board of Directors

Bioretec Ltd.

For additional information:

Sarah van Hellenberg Hubar-Fisher
CEO
+31 6 1544 8736
sarah.hubar-fisher@bioretec.com

Tuukka Paavola
CFO
+358 50 386 0013
tuukka.paavola@bioretec.com
 

Certified Adviser

Nordic Certified Adviser AB, +46 70 551 67 29

Information about Bioretec

Bioretec is a globally operating Finnish medical device pioneer at the forefront of transforming orthopedic care with fully biodegradable implant technologies. The company has built unique competencies in the biological interface of active implants to enhance bone growth and accelerate fracture healing after orthopedic surgery. The products developed and manufactured by Bioretec are used worldwide in approximately 40 countries.  

The company’s latest innovation, the RemeOs™ product line, is based on a high-performance magnesium alloy and hybrid composite, introducing a new generation of strong absorbable materials for enhanced surgical outcomes. The RemeOs implants are absorbed and replaced by bone, which eliminates the need for removal surgery while facilitating fracture healing. The first RemeOs product market authorization was received in the U.S. in March 2023, and in Europe, the CE mark approval was received in January 2025.

Bioretec’s Activa product line features fully bioabsorbable orthopedic implants made from a proprietary, self-reinforced PLGA both CE marked and FDA cleared for a wide range of indications in adult and pediatric patients.

Bioretec is shaping the future of orthopedic treatment with a focus on healing through absorption, paving the way for more effective and patient-friendly solutions.

To learn more about Bioretec, visit www.bioretec.com  

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