Comments from the CEO

Dear fellow shareholders,
We are pleased to report that our new business model has been implemented and the acquisition of High Speed Interconnects, LLC ("HSI") has been completed. Both NAV and share price have improved, demonstrating the strength of our strategy.
Headquartered in Scottsdale, AZ, HSI is one of the world's few custom extruders of high-performance, cut-edge coaxial cable. The company is committed to and cable assembly company dedicated to designing, extruding and manufacturing coaxial cables and assemblies down to the smallest sizes. HSI's low-loss, low-capacitance, phase-stable coaxial interconnect solutions are available in a variety of cable constructions, including circular and micro coaxial connector terminations down to 0.3 mm pitch; and fine wire direct-to-board terminations down to 0.175 mm. HSI had revenues of USD 15.8 million in 2023. The company has USD 20 million in backlog, which will require additional working capital to be deployed in 2025. A public offering of shares is therefore in the pipeline.
HSI is Raytelligence's first spinout and before the end of the year Raytelligence will distribute a substantial portion of its shares in HSI to its shareholders as a dividend. Our company is also looking to invest in other spin-out ready companies and float their shares on appropriate markets.
While the macroeconomic environment, financing conditions and capital market activity in Europe have slowed, US economic data continue to surprise on the upside, showing continued resilience despite looming uncertainties and ongoing shocks. This would open the door to further deals involving US companies. J.P. Morgan Research believes that the prospect of fewer interest rate cuts in the US has pushed the dollar to new highs - and should underpin its resilience going forward. If the European Central Bank (ECB) cuts rates before the Federal Reserve (Fed), the interest rate differential between the US and the eurozone will widen, putting pressure on the euro against the dollar. This should benefit European investors in Raytelligence's dollar-denominated revenue projects. 
We remain focused on value creation. The Board sees progress in the new business model and believes that Raytelligence can be involved in several additional transactions. The reach outside Sweden paves the way for several high quality opportunities. The Group operates in a market driven by long-term trends and therefore believes that quarterly financial statements are less relevant to investors' long-term objectives. However, the market requires relevant and appropriate information about the Group's development, so Raytheon publishes quarterly announcements with key operating data relevant to the business performance. In addition, a half-yearly report and a year-end report containing the financial statements and other information relevant to investors are published.

Ben Hedenberg,

Chief Executive Officer, Raytelligence AB (publ)

Financial Overview

Amounts in 2024 2023-07-01 2024-01-01 2023-01-01 2023-01-01
thousands kronor -07
(KSEK) -01
2024 2023-09-30 2024-09-30 2023-09-30 2023-12-31
-09
-30
Net Sales 571 87 571 291 334
Other operating -38 31 13 49 49
income
Operating expenses -365 -4 361 -3 200 -50 041 -71 078
Adjusted operating 168 -4 244 -2 617 -49 702 -69 915
expenses
Financial -1 -17 -3 -141 -134
income/loss, net
Profit/loss after 167 -4 260 -2 619 -49 843 -70 049
tax
Earnings per share, 0 0 0 0 0
SEK
Equity per share 0 0 0 0 0
before dilution
Cash flow for the 229 -15 -616 -1 347 -772
period
Total number of 17 571 613 684 17 952 245 571 613 684 571 613 684
shares at end of 952
period 245
Average No. of 16 311 977 396 559 403 753 231 950 752 64 662 527
shares after 240
dilution 496

Important events during the period

• Implemented new issue to Recession Investments as payment for interest on a previously taken out loan. The loan proceeds require that the Company can pay its debts.
• Takes out loans from large owners of SEK 547,000.
• Joins the new subsidiary Berndt Nilsson Human Resources AB (BNHR). The company's operations will be changed and adapted to the new purpose.
• Mobintel, the owners of Tekmovil, enter into a letter of intent for financing with an Emirati investment bank. On June 17, 2024, Raytelligence published a press release that the subsidiary Innowearable had signed a letter of intent regarding the acquisition of the assets in Tekmovil LLC, which is intended to be placed in a new company.
• Raytelligence subsidiary Innowearable AB is included in a letter of intent regarding the acquisition of all shares in High Speed Interconnects, LLC ("High Speed"). The acquisition is intended to be financed through a set-off issue, through which High Speed's owner becomes the majority owner of Innowearable, a so-called reverse acquisition.
• Launches a new website and a new graphic profile.
• Held an extraordinary general meeting on September 27, 2024. The general meeting unanimously decided to allow the board to decide on a directed share issue, whereby the share capital will increase by a maximum of SEK 547,000.03 through the issue of a maximum of 1,367,500 ordinary shares.

Important events after the end of the period

• Raytelligence takes out a loan of SEK 245,000, with the aim of adding

working capital to complete ongoing projects in the subsidiary BNHR.

• Raytelligence's subsidiary Berndt Nilsson Human Resources AB ("BNHR" or

the "Company") decided to take out a loan of SEK 950,000. The motive was to
add working capital to complete ongoing projects in the subsidiary BNHR.

• Raytelligence's subsidiary Berndt Nilsson Human Resources AB entered into

an agreement for the acquisition of all shares in High Speed Interconnects,
LLC. The acquisition takes place through a set-off issue of 90,000,000 new
shares in the Company, after which H.S.I. Holdings, S.A. will initially hold
90 percent of the shares and BNHR's existing shareholders will initially hold
ten percent (10%) of the shares in the Company.

• Raytelligence's subsidiary Berndt Nilsson Human Resources AB has on

October 25 changed to High Speed Interconnects International AB.

This information is such that Raytelligence AB (publ) is obliged to make
public according to the EU's market abuse regulation. The information was
provided, through the care of the above contact person, for publication on
October 30, 2024 at 08:15 CET.