Exosens delivers +23.5% revenue growth in Q3 2026, driven by stronger demand and faster-than-expected capacity ramp-up; Fully on track to meet upgraded 2026 outlook

EXOSENS DELIVERS +23.5% REVENUE GROWTH IN Q3 2026, DRIVEN BY STRONGER DEMAND AND FASTER-THAN-EXPECTED CAPACITY RAMP-UP

FULLY ON TRACK TO MEET UPGRADED 2026 OUTLOOK

HIGHLIGHTS

• G oup eve ue up +18.0% to €386.9 millio i 9M 2026, i cludi g +14.4% LFL¹; clea accele atio i Q3 to +23.5%, i cludi g +20.5% LFL (vs. +11.4% LFL i H1), d ive by st o g comme cial mome tum a d faste -tha -expected capacity amp-up
  • Amplificatio eve ue up +15.5% i 9M 2026, with g owth accele ati g to +23.9% i Q3, d ive by i c easi g global dema d fo high-pe fo ma ce image i te sifie tubes i missio -c itical ight visio applicatio s a d faste -tha -expected amp-up of additio al Eu opea p oductio capacity
  • D&I eve ue up +23.7% i 9M 2026, i cludi g +14.1% LFL, eflecti g the i c easi g adoptio of Exose s’ adva ced imagi g solutio s ac oss defe se a d su veilla ce ma kets, pa ticula ly i d o e a d cou te -d o e applicatio s, alo gside st o g mome tum i uclea i st ume tatio , otably fo ext-ge e atio SMRs
• Adjusted g oss ma gi up +16.1% to €194.9 millio i 9M 2026 (ma gi of 50.4%), with double-digit g owth ac oss Amplificatio (+14.1%) a d D&I (+21.1%) segme ts
• Key milesto e i the U.S.: fi st delive y o de fo 1,600 BiNOD systems, establishi g Exose s as a supplie of complete ight visio systems to the U.S. A my
• St o g ope atio al executio : image i te sifie tube p oductio capacity o t ack to i c ease by 40% ac oss Eu ope a d the U.S. by 2027, with the fi st phase i Eu ope impleme ted a d p oductio ampi g up faste tha expected
• Scali g p oductio of adva ced imagi g solutio s: capacity set to t iple fo the mal came as a d double fo cooled i f a ed came as i 2026, to meet g owi g dema d ac oss d o e, cou te -d o e a d lo g- a ge su veilla ce applicatio s

OUTLOOK

• Upg aded 2026 outlook co fi med: c.20% eve ue g owth a d c.25% adjusted EBITDA g owth at midpoi t vs. 2025, implyi g fu the p ofitability imp oveme t
  • Reve ue i the a ge of €558 millio to €570 millio
  • Adjusted EBITDA i the a ge of €186 millio to €192 millio
  • Capital expe ditu e at a ou d 9% of eve ue (excludi g capitalized R&D), d ive by p oductio capacity expa sio i Eu ope a d the U ited States

P ess elease, Mé ig ac (F a ce), 27 Octobe 2026 – Exose s (EXENS; FR001400Q9V2), a high-tech compa y focused o p ovidi g missio – a d pe fo ma ce-c itical amplificatio , detectio a d imagi g tech ologies, today publishes its eve ue a d adjusted g oss ma gi fo the i e-mo th pe iod e ded 30 Septembe 2026.

“Ou i e-mo th pe fo ma ce demo st ates both st o g comme cial mome tum a d discipli ed executio , with eve ue g owth eachi g +18.0% ove the pe iod a d accele ati g to +23.5% i the thi d qua te . I Amplificatio , ou additio al Eu opea capacity fo image i te sifie tubes is ampi g up ahead of pla , e abli g us to se ve st o g dema d fo ight visio solutio s soo e tha a ticipated, while ou fi st BiNOD delive y o de ma ks a key step i buildi g ou p ese ce i the U.S. ma ket. I D&I, ou adva ced imagi g tech ologies co ti ue to gai t actio i d o e, cou te -d o e a d lo g- a ge su veilla ce applicatio s, as we scale p oductio capacity to meet g owi g dema d. Fu the p og ess i ext-ge e atio uclea p ojects, pa ticula ly i SMRs, also ei fo ces ou lo g-te m g owth p ospects. Buildi g o this sustai ed mome tum, we a e fully o t ack to meet ou upg aded 2026 guida ce,” said Jé ôme Ce isie , CEO of Exose s.

Reve ue up +18.0% i 9M 2026, with g owth accele ati g to +23.5% i Q3 2026, d ive by st o g comme cial mome tum a d faste -tha -expected capacity amp-up

Co solidated eve ue amou ted to €386.9 millio i 9M 2026, up +18.0% (+€59.1 millio ) compa ed with €327.8 millio i 9M 2025. This pe fo ma ce eflects the co t ibutio s f om 2025 a d 2026 acquisitio s a d st o g like-fo -like g owth of +14.4%, d ive by g owi g dema d fo missio -c itical ight visio a d imagi g solutio s i defe se a d su veilla ce applicatio s, alo gside st o g mome tum i uclea i st ume tatio . G owth accele ated ma kedly i Q3 2026 to +23.5%, i cludi g +20.5% like-fo -like.

AMPLIFICATION

Amplificatio eve ue amou ted to €267.8 millio (c.69% of G oup sales) i 9M 2026, up +15.5% (+€36.0 millio ) compa ed with 9M 2025, i cludi g st o g like-fo -like g owth of +14.5%. This sustai ed pe fo ma ce eflects i c eased image i te sifie tube sales volumes a d imp oved yields, togethe with the expected i c ease i NVLS’ co t ibutio as the yea p og essed. Reve ue g owth accele ated to +23.9% i Q3 2026, f om +11.6% i H1 2026, as additio al Eu opea p oductio capacity amped up faste tha expected.

G owi g global defe se spe di g a d multi-yea p og ams to mode ize a med fo ces a e accele ati g the p ocu eme t of adva ced ight visio systems. Agai st this backd op, Exose s builds o its positio as the wo ld’s leadi g supplie of high-pe fo ma ce, ITAR-f ee image i te sifie tubes. The G oup’s tech ological leade ship a d scalable i dust ial capabilities e able it to meet g owi g dema d f om NATO a d allied a med fo ces.

Dema d co ti ued to exceed available p oductio capacity i 9M 2026. I this co text, Exose s’ ability to delive highe volumes d ove eve ue g owth, otably u de majo ight visio p ocu eme t p og ams such as the OCCAR f amewo k fo the Ge ma a d Belgia a med fo ces. Dema d also co ti ued to g ow i othe ma kets, pa ticula ly i No the a d Easte Eu ope, as well as ac oss seve al i te atio al ma kets. Adoptio of 5G image i te sifie tech ology also co ti ued to expa d amo g special fo ces i NATO cou t ies.

Agai st this backd op of accele ati g global dema d, Exose s co ti ues to impleme t its i vestme t pla to expa d p oductio capacity ac oss Eu ope a d the U ited States by 40% by 2027. The fi st phase i Eu ope was successfully impleme ted, with a exte ded ope ati g schedule e abli g p oductio to u th oughout August fo the fi st time, while ewly i stalled p oductio equipme t was commissio ed. As a esult, additio al Eu opea p oductio capacity amped up faste tha expected, e abli g the G oup to meet g owi g dema d soo e tha a ticipated.

I the U.S., the ollout of the ew ma ufactu i g facility is u de way, establishi g scalable i -cou t y p oductio capacity to suppo t futu e g owth i the wo ld’s la gest si gle ight visio ma ket. U de sco i g the effective ess of its i dust ial st ategy, Exose s eached a key milesto e i August 2026 whe its U.S. subsidia y, Photo is Defe se, was awa ded a fi st delive y o de fo 1,600 complete systems u de the U.S. A my’s Bi ocula Night Obse vatio Device (BiNOD) p og am, as pa t of the b oade US$352.6 millio I defi ite-Delive y/I defi ite-Qua tity (IDIQ) co t act a ou ced i Ma ch 2026.

The o de ma ks the t a sitio f om key testi g a d qualificatio to the Low-Rate I itial P oductio (LRIP) phase, layi g the fou datio fo egula p oductio of BiNOD systems i the U ited States. Fi st p oduct delive ies a e expected by the e d of 2026, with the bulk of delive ies scheduled th oughout 2027. Photo is Defe se will ma ufactu e a d test the complete BiNOD systems i the U.S., i teg ati g Exose s’ high-pe fo ma ce image i te sifie tubes.

DETECTION & IMAGING

D&I eve ue eached €120.0 millio (c.31% of G oup sales) i 9M 2026, up +23.7% (+€23.0 millio ) compa ed with 9M 2025. This pe fo ma ce eflects the co t ibutio s f om 2025 a d 2026 acquisitio s (Noxa t, Phasics, Embe io ) a d st o g like-fo -like g owth of +14.1%, d ive by accele ati g dema d fo adva ced imagi g solutio s i defe se a d su veilla ce ma kets, pa ticula ly i d o e a d cou te -d o e applicatio s, alo gside st o g mome tum i uclea i st ume tatio , otably fo ext-ge e atio Small Modula Reacto s (SMRs).

Defe se & Su veilla ce

Imagi g tech ologies a e becomi g ce t al to mode defe se ope atio s, d ive by two st uctu al t e ds: (i) the g owi g i teg atio of adva ced opt o ic tech ologies i to defe se platfo ms, a d (ii) the p olife atio of d o es a d cou te -d o e systems that a e becomi g a co e pilla of mode wa fa e a d eshapi g co ve tio al defe se ope atio s. Agai st this favo able backd op, Exose s is well positio ed to capitalize o accele ati g dema d fo adva ced imagi g solutio s th ough its comp ehe sive po tfolio of tech ologies e abli g situatio al awa e ess, th eat detectio , ide tificatio a d t acki g, ta geti g, a d lo g- a ge obse vatio ac oss a wide a ge of defe se a d su veilla ce applicatio s.

Comme cial mome tum co ti ued to build i 9M 2026, pa ticula ly i the fast-g owi g d o e a d cou te -d o e space, with Exose s’ adva ced imagi g solutio s gai i g fu the adoptio amo g leadi g OEMs a d auto omous defe se systems develope s. The G oup’s u de sta di g of UxV tech ological equi eme ts a d its suppo t th oughout the desig -i phase help custome s b i g ew systems to ma ket faste . I additio , its agile supply chai a d scalable i dust ial capabilities allow it to espo d swiftly to accele ati g ma ket dema d.

Su veilla ce ma kets also gai ed fu the mome tum, d ive by i c easi g i vestme t i homela d secu ity a d cou te -d o e capabilities amid g owi g co ce s ove g ou d a d ai bo e i cu sio s. Dema d was pa ticula ly st o g fo adva ced imagi g solutio s used i lo g- a ge obse vatio a d cou te -d o e systems, with Exose s’ tech ologies i c easi gly adopted by leadi g OEMs a d system i teg ato s.

To meet g owi g dema d, Exose s is impleme ti g pla s to t iple p oductio capacity fo the mal came as a d double capacity fo cooled i f a ed came as i 2026. Togethe , these i c eases highlight the G oup’s ability to a ticipate evolvi g ma ket equi eme ts a d scale p oductio acco di gly.

Comme cial Ma kets

I Nuclea , dema d fo adva ced detecto s a d i st ume tatio emai ed st o g i 9M 2026, d ive by g owi g i vestme t i ext-ge e atio uclea tech ologies, pa ticula ly SMRs. The uclea ma ket co ti ues to be efit f om isi g dema d fo eliable, ca bo -f ee powe , d ive by the apid expa sio of AI data ce te s a d thei substa tial e e gy eeds, ei fo ci g the lo g-te m p ospects fo SMRs.

I the U.S., p og ess u de the Depa tme t of E e gy’s (DOE) Reacto Pilot P og am highlights the accele ati g deployme t of ext-ge e atio eacto s. Exose s supplied adva ced eut o flux mo ito i g detecto s a d elated tech ical expe tise to A ta es Nuclea a d Vala Atomics, the develope s behi d the fi st two eacto desig s to each c iticality u de the p og am. These milesto es a e expected to lead to p e-se ies p oductio o de s i the ea te m a d suppo t lo g-te m dema d fo Exose s’ uclea i st ume tatio solutio s ac oss the U.S. ma ket.

I I dust ial Co t ol, ma ket co ditio s co ti ued to show sig s of ecove y i 9M 2026. The expa sio of AI i f ast uctu e is expected to d ive i vestme t i semico ducto ma ufactu i g a d i dust ial automatio , suppo ti g lo g-te m st uctu al dema d fo Exose s’ adva ced imagi g tech ologies i semico ducto i spectio , machi e visio a d eal-time p ocess mo ito i g. The G oup is well positio ed to be efit f om these t e ds th ough its cutti g-edge po tfolio of i f a ed, UV a d wavef o t se si g tech ologies.

I Life Scie ces, ma ket co ditio s we e mixed i 9M 2026. Global u ce tai ty weighed o scie tific esea ch a d dema d fo mic oscopy compo e ts, while i ve to y d awdow s i mass spect omet y, ow complete, softe ed dema d fo adva ced detecto s. Despite these tempo a y headwi ds, ma ket fu dame tals emai favo able, d ive by the shift towa ds highe -pe fo ma ce mass spect omet y systems. Risi g p ivate-secto R&D, otably i low-ca bo mate ials a d semico ducto testi g, also d ives lo g-te m dema d fo the G oup’s elect o mic oscopy detecto s. I this co text, Exose s has secu ed desig -i s fo its tech ologies i seve al majo p ojects, suppo ti g g owth i the comi g yea s.

M&A

O 24 Ap il 2026, Exose s completed the acquisitio of Embe io , a Fi la d- a d UK-based compa y specializi g i the desig a d ma ufactu i g of i ovative i f a ed se so s leve agi g pate ted qua tum dot imagi g tech ology. This acquisitio st e gthe s Exose s’ adva ced imagi g po tfolio with eme gi g qua tum dot-based sho t-wave i f a ed se so s, suppo ti g ew oppo tu ities i su veilla ce imagi g, otably fo d o e-based systems, a d i i dust ial applicatio s such as semico ducto i spectio .

Adjusted g oss ma gi up +16.1% i 9M 2026

The G oup’s adjusted g oss ma gi eached €194.9 millio i 9M 2026, up +16.1% (+€27.0 millio ) compa ed with €168.0 millio i 9M 2025. The ma gi ate dec eased by (85) basis poi ts to 50.4% i 9M 2026 (ve sus 51.2% i 9M 2025). This eflects p oduct mix effects i both segme ts, d ive by the amp-up of NVLS’ delive ies of complete ight visio systems a d st o g eve ue g owth i defe se imagi g. Staffi g costs at the U.S. facility also weighed o the ma gi ate. These effects we e pa tly offset by highe image i te sifie tube sales volumes a d imp oved yields. I additio , the compa iso base was pa ticula ly high i Q3 2025. The G oup’s upg aded full-yea guida ce al eady facto s i these ope ati g effects.

The Amplificatio segme t’s adjusted g oss ma gi totaled €138.9 millio i 9M 2026, up +14.1% (+€17.1 millio ) compa ed with 9M 2025. The ma gi ate dec eased by (68) basis poi ts to 51.9% i 9M 2026 (ve sus 52.5% i 9M 2025). As expected, the amp-up of NVLS’ delive ies of complete ight visio systems i Q3 2026, followi g a limited co t ibutio i H1 2026, esulted i a less favo able p oduct mix yea o yea , as NVLS, acqui ed i July 2025, co t ibuted egligible eve ue i 9M 2025. Staffi g costs at the U.S. facility also weighed o the segme t’s ma gi ate. These effects we e pa tly offset by highe image i te sifie tube sales volumes a d imp oved yields. I additio , the compa iso base was pa ticula ly high i Q3 2025, whe the segme t’s ma gi ate eached 54.9%, ve sus 50.5% fo full-yea 2025.

The Detectio & Imagi g segme t’s adjusted g oss ma gi amou ted to €55.9 millio i 9M 2026, up +21.1% (+€9.7 millio ) compa ed with 9M 2025. The ma gi ate decli ed by (103) basis poi ts to 46.6% i 9M 2026 (ve sus 47.6% i 9M 2025). This ma gi co t actio eflects a less favo able p oduct mix, d ive by the i c eased weight of fast-g owi g defe se imagi g p oducts elative to highe -ma gi detecto s, pa ticula ly those used i life scie ces.

Upg aded 2026 outlook co fi med: c.20% eve ue g owth a d c.25% adjusted EBITDA g owth at midpoi t vs. 2025, implyi g fu the p ofitability imp oveme t

Buildi g o sustai ed comme cial mome tum, eflected i the clea accele atio i like-fo -like eve ue g owth i the thi d qua te , as well as co ti ued discipli ed executio , Exose s co fi ms its upg aded full-yea 2026 guida ce a ou ced o 17 Septembe 2026.

The G oup expects:

• Reve ue i the a ge of €558 millio to €570 millio ;
• Adjusted EBITDA i the a ge of €186 millio to €192 millio ;
• Capital expe ditu e at a ou d 9% of eve ue (excludi g capitalized R&D expe ses of a ou d 3% of eve ue), d ive by p oductio capacity expa sio i Eu ope a d the U.S.

Exose s will commu icate its full-yea 2027 guida ce upo publicatio of the G oup’s full-yea 2026 esults o 22 Feb ua y 2027.

Fi a cial Cale da

• 22/02/2027: Full-yea 2026 esults (befo e ma ket ope i g).

About Exose s

Exose s is a high-tech compa y with mo e tha 85 yea s of expe ie ce i the i ovatio , developme t, ma ufactu i g a d sale of high-e d elect o-optical tech ologies i the fields of amplificatio , detectio a d imagi g. Today, it offe s its custome s detecto s a d imagi g solutio s such as digital came as, io , elect o , eut o a d gamma- ay detecto s as well as image i te sifie tubes. This e ables Exose s to add ess complex challe ges i ext emely dema di g e vi o me ts by p ovidi g its custome s with tailo -made solutio s. Tha ks to its sustai ed i vestme t, Exose s is i te atio ally ecog ized as a majo i ovato i optoelect o ics, with p oductio a d R&D activities ca ied out at 13 sites ac oss Eu ope a d No th Ame ica a d mo e tha 2,000 employees. Exose s is listed o compa tme t A of the egulated ma ket of Eu o ext Pa is (Ticke : EXENS – ISIN: FR001400Q9V2). Exose s is a membe of the Eu o ext Tech Leade s segme t a d is also i cluded i seve al i dices, i cludi g SBF 120, CAC All-T adable, CAC Mid 60, FTSE Total Cap a d MSCI F a ce Small Cap. Fo mo e i fo matio : www.exose s.com.

I vesto Relatio s

Lau e t Sfaxi, l.sfaxi@exose s.com

Media Relatio s

B u swick G oup, exose s@b u swickg oup.com

APPENDICES

Qua te ly figu es fo 9M 2026

Qua te ly figu es fo 9M 2025

Defi itio s

Like-fo -like g owth is defi ed as the eve ue g owth achieved by the G oup, excludi g cu e cy effects a d cha ges i the scope of co solidatio . It co espo ds to the eve ue ge e ated i pe iod “ ” by all compa ies i cluded i the G oup’s scope of co solidatio at the e d of pe iod “ -1” (excludi g a y co t ibutio f om compa ies acqui ed si ce the e d of pe iod “ -1”), compa ed with the eve ue ge e ated i pe iod “ -1” by the same compa ies. Acco di gly, like-fo -like g owth fo the i e-mo th pe iod e ded 30 Septembe 2026 excludes the co t ibutio s of Noxa t, NVLS, Phasics a d Embe io , which we e acqui ed by the G oup i Ma ch 2025, July 2025, Octobe 2025 a d Ap il 2026, espectively.

Adjusted g oss ma gi is defi ed as the diffe e ce betwee the selli g p ice a d the cost of p oducts a d se vices (i cludi g employee be efits expe se).

Adjusted EBITDA is defi ed as ope ati g p ofit, excludi g (i) dep eciatio , amo tizatio a d impai me t losses o o -cu e t assets, et of eve sals; (ii) o – ecu i g i come a d expe ses, as p ese ted i the G oup’s co solidated i come stateme t u de “Othe i come” a d “Othe expe ses”; a d (iii) items that do ot eflect the G oup’s o di a y ope ati g pe fo ma ce (i pa ticula , busi ess eo ga izatio a d adaptatio costs, costs elati g to acquisitio s a d exte al g owth t a sactio s, as well as IFRS 2 sha e-based payme t expe se).

Fo wa d-looki g stateme ts

Ce tai i fo matio i cluded i this p ess elease does ot elate to histo ical facts but co stitutes fo wa d-looki g stateme ts. These fo wa d-looki g stateme ts a e based o cu e t beliefs, expectatio s a d assumptio s, i cludi g, without limitatio , assumptio s ega di g p ese t a d futu e busi ess st ategies a d the e vi o me t i which Exose s ope ates, a d i volve k ow a d u k ow isks, u ce tai ties a d othe facto s which may cause actual esults, pe fo ma ce o achieveme ts to diffe mate ially f om those exp essed i o implied by the fo wa d-looki g stateme ts i cluded i this p ess elease. These isks a d u ce tai ties i clude those set out a d detailed i Chapte 4 “Risk facto s a d isk ma ageme t system” of the U ive sal Regist atio Docume t filed o 9 Ma ch 2026 with the F e ch fi a cial ma kets autho ity (Auto ité des ma chés fi a cie s – AMF) u de umbe D.26-0072. Fo wa d-looki g stateme ts speak o ly as of the date of this p ess elease, a d the G oup exp essly disclaims a y obligatio o u de taki g to elease a y updates o evisio s to a y fo wa d-looki g stateme ts i cluded i this p ess elease to eflect a y cha ge i expectatio s o a y cha ge i eve ts, co ditio s o ci cumsta ces o which these fo wa d-looki g stateme ts a e based. Fo wa d-looki g i fo matio a d stateme ts a e ot gua a tees of futu e pe fo ma ce a d a e subject to va ious isks a d u ce tai ties, ma y of which a e difficult to p edict a d ge e ally beyo d the co t ol of the G oup. Actual esults could diffe mate ially f om those exp essed i , o implied o p ojected by, fo wa d-looki g i fo matio a d stateme ts. This p ess elease is p ovided fo i fo matio pu poses o ly. It does ot co stitute, a d should ot be deemed to co stitute, a offe of secu ities to the public.

1 Like-fo -like.

Attachme t

• Exose s_P ess Release_9M 2026_VA_FINAL