Quarterly report 2 2024

Dear fellow shareholders,

We are pleased to report positive signs in our new business model. Since I recently became the CEO, both the net asset value and the share price have improved, showing strength in our strategy.

Our company is looking to invest in companies suitable for spinouts as dividends to our shareholders and to float their shares in suitable marketplaces. The first project is Mobintel.

Mobintel signed a term sheet in July with an Emeriti investment bank for a seven-year funding arrangement totalling USD 50 million, of which up to USD 38 million would be facilitated as revolving credit and USD 12 million as equity for 40 per cent of the new company. Should Mobintel successfully close the transaction the intention is that Innowearable AB will acquire the assets in Tekmovil LLC. We expect Mobintel to become the first exit as a dividend to our shareholders.

Besides Mobintel the management is looking at opportunities in Artificial Intelligence projects for healthcare and drug development, cyber security products, life science innovations and disruptive technologies.

Whilst the macroeconomic environment, financing conditions, and capital markets activity have improved, we continue to monitor geopolitical risks and macroeconomic developments and maintain our focus on performance.

Raytelligence intends to appoint senior advisors on geopolitical topics and economic trends, life science and mergers & acquisitions.

In the coming quarters, we focus on asset value growth. The Directors see progress in the new business model and are convinced that Raytelligence can be involved in several promising transactions. The reach outside Sweden is paving the road for multiple high-value opportunities.

The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant to investors' long-term goals. However, the market requires relevant and suitable information about the Group's development, thus Raytellegence publishes quarterly announcements with key operating data relevant to the business performance. In addition, a semi-annual report and a year-end report including financial statements and further information relevant to investors is published.

Ben Hedenberg,

Chief Executive Officer, Raytelligence AB (publ)

Financial Overview

• On April 22, 2024, Raytelligence held an extraordinary general meeting in Halmstad. The general meeting made a unanimous decision to change the articles of association in accordance with the proposal and to make a decision to set off debts against shares, among other things to the Company's CEO.
• Signs a letter of intent to divest the Eazense ONE and Inno-X™ projects at a value of USD 450,000 (equivalent to SEK 4.8 million), which exceeds book value.
• Fixed record date for the merger of shares to 29 May 2024, where 100 old shares become one new. As a result of the merger, Raytelligence changed its ISIN code. As of May 28, 2024, the share in the Company is traded with the new ISIN code SE0022088282.
• Raytelligence AB (publ) held an annual general meeting on 13 June 2023 at the company's premises in Stockholm.
• In June, the subsidiary Innowearable entered into a letter of intent regarding a reverse acquisition with Tekmovil LLC. The letter of intent refers to an acquisition of the assets in Tekmovil LLC, which is intended to be placed in a new company. The acquisition is intended to be financed through an offsetting issue, through which Tekmovil's owner becomes the majority owner of Innowearable, a so-called reverse acquisition. Innowearable's company name and business are then intended to change to Tekmovil's company name and business. After the transaction, Raytelligence will distribute the received shares in Innowearable to its shareholders.
• The board took out a loan of USD 150,000 in order to provide the Company with working capital to be able to evaluate new projects in the subsidiary, as well as alternative financing options.