Amounts marked with an ‘*’ in this document represent sales growth adjusted for the impact of acquisitions and divestments and effects of foreign currency fluctuations, also named organic sales growth. These numbers present performance on a comparable basis to improve the comparability of results between periods. Organic sales growth figures are non-IFRS measures.

‘Adjusted’ metrics are adjusted to exclude restructuring charges and are non-IFRS measures. This is a change in nomenclature only.

See ‘Financial statements and other information’ for Alternative performance measures.

Net sales

Reported sales decreased by -10% YoY to SEK 49.3 (55.0) b., including a SEK -7.8 b. currency impact. Networks sales declined by -8% to SEK 32.9 b. Cloud Software and Services sales decreased by -9% to SEK 11.8 b. Enterprise sales declined by -30% to SEK 4.2 b., mainly driven by a SEK -1.1 b. impact from the divestment of iconectiv in 2025. Sales in segment Other were stable at SEK 0.4 b.

Organic sales grew by 6%* YoY. Networks sales increased by 7%*, supported by growth in three of the four market areas. Cloud Software and Services sales grew by 4%*, with growth in three market areas. Sales in segment Enterprise grew by 4%*, driven by Global Communications Platform.

IPR licensing revenues were SEK 3.1 (3.2) b. as organic revenue growth was offset by negative currency impacts. 82% of IPR licensing revenues are reported in segment Networks, with the remainder in Cloud Software and Services.

Gross income and margin

Gross margin decreased to 47.2% (48.2%). Networks gross margin decreased, mainly reflecting actions to enhance supply chain resilience. Gross margin in Cloud Software and Services increased, benefiting from product mix and improved delivery efficiency. Gross margin declined in Enterprise primarily due to the impact of the divestment of iconectiv and a change in business mix in Global Communications Platform.

Gross income decreased to SEK 23.3 (26.5) b., impacted by lower net sales and lower gross margin, and including a negative currency impact of SEK -3.8 b. Gross income was also impacted by restructuring charges of SEK -0.4 (-0.2) b.

Adjusted gross income decreased to SEK 23.7 (26.7) b., with a margin of 48.1% (48.5%).

Research and development (R&D) expenses

R&D expenses increased to SEK -13.5 (-12.0) b., including restructuring charges of SEK -2.6 (-0.0) b. and a positive currency impact of SEK 0.7 b. Excluding restructuring and currency impacts, R&D expenses decreased by SEK -0.4 b., as investments in technology leadership were more than offset by savings from cost-reduction actions, primarily in Cloud Software and Services.

Selling and administrative (SG&A) expenses

SG&A expenses were SEK -8.1 (-8.6) b., including restructuring charges of SEK -0.7 (-0.1) b. and a currency benefit of SEK 0.9 b. Excluding restructuring and currency impacts, SG&A expenses declined by SEK -0.2 b., primarily reflecting the divestment of iconectiv.

Restructuring charges

Restructuring charges were SEK -3.8 (-0.3) b., driven by announced headcount reduction plans in Sweden. Gross income included SEK -0.4 (-0.2) b. of restructuring charges, while restructuring charges in operating expenses were SEK -3.3 (-0.1) b.

EBITA

EBITA decreased to SEK 1.8 (6.7) b., mainly due to increased restructuring charges of SEK -3.8 (-0.3) b., lower gross income, and a SEK -0.5 b. impact from the revaluation of cash settled long-term variable compensation programs due to the increase in the share price. This was partly offset by lower operating expenses from cost-reduction actions. EBITA included a negative YoY currency impact of SEK -2.2 b. The EBITA margin was 3.6% (12.1%).

Adjusted EBITA decreased to SEK 5.6 (6.9) b. The adjusted EBITA margin was 11.3% (12.6%).

EBIT

EBIT decreased to SEK 1.4 (5.9) b. with a margin of 2.9% (10.8%). Amortization impacted EBIT by SEK -0.3 (-0.7) b.

Adjusted EBIT decreased to SEK 5.2 (6.2) b. with a margin of 10.6% (11.3%).

Financial income and expenses, net

Financial income and expenses were SEK -0.2 (-0.1) b. Financial net decreased as lower interest expense was offset by a SEK -0.1 (0.2) b. negative currency hedge effect.

Income tax

Taxes were SEK -0.4 (-1.6) b. A tax rate of 29% (25%) is expected for the full year, mainly reflecting restructuring initiatives in various markets.

Net income

Net income decreased to SEK 0.9 (4.2) b.

Diluted EPS was SEK 0.27 (1.24).

Employees

The number of employees on March 31, 2026, was 87,521 compared with 88,826 on December 31, 2025.

Market Area Americas

Sales decreased by -2%* YoY, with strong growth in Latin America partly offset by lower sales in North America. Networks sales declined in North America, primarily reflecting accelerated network investments in the prior-year period, in part due to tariff uncertainty, as well as a short-term reallocation of customer spend following mobile network operator consolidation announced last year. Cloud Software and Services sales increased, driven by timing of project deliverables in core networks as well as North America managed services growth. Reported sales decreased by -18% YoY.

In the quarter, a successful live proof of concept was conducted at Ericsson’s US headquarters in Plano, Texas, demonstrating sensing technology for unmanned aerial vehicle (UAV) detection and airspace monitoring using massive-MIMO radios.

Market Area Europe, Middle East and Africa

Sales grew by 10%* YoY. Networks sales in Europe increased, supported by the timing of project deliverables, partly offset by the completion of modernization projects. Networks sales in Middle East and Africa also increased, driven by 5G network investments. Cloud Software and Services sales declined due to timing of project deliverables as well as exits and descoping of managed services contracts. Reported sales decreased by -1% YoY.

In the quarter, a five-year partnership extension was agreed with Virgin Media O2 in the UK to become its primary Radio Access Network (RAN) partner, powering the majority of its nationwide mobile network and providing advanced 5G capabilities.

Market Area South East Asia, Oceania and India

Sales increased by 12%* YoY. Networks sales increased, primarily driven by higher deliveries in India. Cloud Software and Services sales increased, reflecting timing of project deliverables. Reported sales declined by -4% YoY.

Market Area North East Asia

Sales increased by 15%* YoY. Networks and Cloud Software and Services sales increased, reflecting the timing of project deliverables predominantly in Japan. Reported sales declined by -3% YoY.

In the quarter, a multi-year agreement was signed with Softbank to deploy next generation core network solutions. A multi-year agreement was signed with Far EasTone to modernize its RAN and core, with AI native, 5G advanced, and 6G ready networks.

Market Area Other

Market area Other primarily includes IPR licensing revenues and almost all sales in segment Enterprise. Sales increased by 12%* YoY with growth in Enterprise and a favorable currency hedge effect. Reported sales decreased by -15% YoY, mainly reflecting the divestment of iconectiv in Q3 2025.

Mobile Networks –

Segment Networks

Breakdown of sales into products, services and IPR licensing is available in note 3. 

Net sales

Sales increased by 7%* YoY, with growth in three of the four market areas. Reported sales decreased by -8% YoY to SEK 32.9 (35.6) b. including a currency impact of SEK -5.2 b.

Sales grew across the market area Europe, Middle East and Africa driven by network modernizations as well as 5G launches and rollouts. Sales in market area South East Asia, Oceania and India increased primarily due to higher deliveries in India. Sales in market area North East Asia also increased, reflecting the timing of project deliverables predominantly in Japan. Sales in market area Americas declined reflecting accelerated network investments in the prior-year period in North America, as well as a short-term reallocation of customer spend following mobile network operator consolidation in 2025. The decline was partly offset by higher sales in Latin America.

Gross income and margin

Adjusted gross margin decreased slightly to 50.4% (51.0%), mainly reflecting actions to enhance supply chain resilience. Adjusted gross income decreased to SEK 16.6 (18.2) b., impacted by lower gross margin, lower sales and a currency impact of SEK -2.7 b.

EBITA

Adjusted EBITA was SEK 6.4 (7.5) b. Lower gross income was partly offset by lower operating expenses. Operating expenses benefitted from continued efficiency improvements and positive currency impacts. R&D investments remained stable, supporting the strategy of building the best high-performing, AI-native, programmable networks, and maintaining technology leadership. Adjusted EBITA included a SEK -2.0 b. currency impact.

The adjusted EBITA margin was 19.3% (21.0%).

Net sales rolling four quarters were SEK 148.3 b. and the adjusted EBITA margin rolling four quarters was 20.3%.

Mobile Networks –

Segment Cloud Software and Services

Breakdown of sales into products, services and IPR licensing is available in note 3. 

Net sales

Sales increased by 4%* YoY, with growth in three of the four market areas and growth in core networks. Reported sales declined by -9% to SEK 11.8 (13.0) b., including a currency impact of SEK -1.6 b. Services sales accounted for 64% (64%) of sales.

Sales grew in Americas, driven primarily by core networks. Sales in market areas South East Asia, Oceania and India and in North East Asia increased, driven by timing of project deliverables. In market area Europe, Middle East and Africa, sales declined across the region, mainly due to lower services sales.

Gross income and margin

Adjusted gross margin increased to 43.2% (39.9%), supported by strong strategy execution with improved delivery efficiency and a favorable shift in product mix. Adjusted gross income decreased slightly to SEK 5.1 (5.2) b., impacted by a negative currency impact of SEK -0.6 b.

EBITA

Adjusted EBITA increased to SEK 0.6 (0.2) b. Lower gross income was offset by lower operating expenses. Operating expenses benefitted from continued efficiency improvements and positive currency impacts. Adjusted EBITA included a SEK -0.3 b. currency impact. The adjusted EBITA margin was 5.3% (1.2%).

Net sales rolling four quarters were SEK 61.6 b. and the adjusted EBITA margin rolling four quarters was 12.4%.

Enterprise –

Segment Enterprise

Net sales

Sales increased by 4%* YoY, primarily driven by Global Communications Platform, with slight growth in Enterprise Wireless Solutions. Reported sales decreased by -30% YoY to SEK 4.2 (5.9) b., reflecting the divestment of iconectiv in Q3 2025 and a SEK -0.8 b. currency impact.

Sales growth in Global Communications Platform was driven by higher sales in CPaaS and in network API powered solutions. Sales in Enterprise Wireless Solutions benefited from growth in WWAN solutions.

Gross income and margin

Adjusted gross margin decreased to 49.0% (56.2%), reflecting the impact of the divestment of iconectiv in Q3 2025 and a change in business mix in Global Communications Platform. Adjusted gross income was SEK 2.0 (3.3) b., reflecting the divestment of iconectiv in Q3 2025 and a negative currency impact of SEK -0.4 b.

EBITA (loss)

Adjusted EBITA (loss) was SEK -1.4 (-0.5) b., reflecting the divestment of iconectiv in Q3 2025 and SEK -0.3 b. of non-recurring costs in the current quarter, including the impact of a revaluation of cash settled long-term variable compensation programs due to the increase in the share price. The currency impact was SEK -0.1 b. Adjusted EBITA margin was -34.6% (-8.9%).

Net sales rolling four quarters were SEK 19.4 b. and the adjusted EBITA margin rolling four quarters was 20.4%, including a 39.1 percentage point benefit from the iconectiv gain in Q3 2025.

Segment Other

Net sales

Reported sales were SEK 0.4 (0.5) b.

Gross income and margin

Adjusted gross income was SEK 0.0 (0.0) b. Adjusted gross margin was -1.5% (4.2%).

EBITA (loss)

Adjusted EBITA (loss) was SEK 0.0 (-0.2) b.

Net sales rolling four quarters were SEK 1.8 b.

Cash flow

Cash flow from operating activities was SEK 7.4 (4.4) b. Operating cash flow in the quarter was driven by earnings and a reduction in operating net assets. Operating net assets decreased driven by annual IPR payments received in the quarter.

Cash flow from operating activities increased compared to the prior year period, reflecting solid underlying earnings and positive cash flow from currency hedges.

Cash flow from investing activities was SEK 1.9 (1.3) b. Investing cash flow in the quarter was driven by the sale of interest-bearing securities.

Cash flow from financing activities was SEK -2.3 (-0.7) b. Financing cash flow in the quarter was driven by collateral on derivatives.

Financial position

Gross cash increased sequentially by SEK 5.6 b. to SEK 99.5 b., driven by positive free cash flow before M&A and a positive exchange rate effect on cash and cash equivalents.

Net cash increased SEK 6.9 b. sequentially to SEK 68.1 b.

The average maturity of parent company borrowings was 2.7 years as of March 31, 2026, compared with 3.5 years as of March 31, 2025.

Liabilities for post-employment benefits decreased to SEK 18.2 b. from SEK 18.6 b. The Swedish defined benefit obligation (DBO) was calculated using a discount rate based on the yields of Swedish government bonds. If the discount rate had been based on Swedish covered mortgage bonds, the liability for post-employment benefits would have been approximately SEK 9.9 b., which is SEK 8.3 b. lower than current DBO.

Market

Dell’Oro estimates that the global RAN equipment market will be broadly stable in 2026.

Source: Dell’Oro Mobile RAN Quarterly Report Q425, Feb 2026.

Ericsson

Net sales

Reported average seasonality last 3 years (2023–2025), %.

Net sales may show large variations between quarters, including currency changes.

IPR licensing revenues

IPR licensing revenue growth opportunities remain in new market segments and from increased penetration of the smartphone market.

At the end of Q1 2026, recurring annual IPR licensing revenues were approximately SEK 13 b.

Currency exposure

Currency exposure can vary significantly from quarter to quarter. In 2025, approximately half of net sales were USD denominated, over 15% of net sales were EUR denominated, and five other currencies (INR, JPY, GBP, CNY, AUD) contributed approximately 15% of net sales.

Further currency information is available at:

https://www.ericsson.com/en/investors/financial-reports-and- presentations/foreign-exchange-rates

Amortization of intangible assets

Amortization of intangible assets is expected to be around SEK -0.3 b. per quarter in segment Enterprise.

Restructuring charges

Restructuring charges for 2026 are expected to be at elevated levels.

Segments

Increased uncertainty remains in the outlook and in the broader macroeconomic and geopolitical environment.

The Q2 outlook assumes currency rates of USD:SEK 9.2, EUR:SEK 10.8.

Networks

Sales growth in Q2 2026 is expected to be broadly similar to 3-year average seasonality.

Adjusted gross margin in Q2 2026 is expected to be in the range of 49% to 51%.

Cloud Software and Services

Sales growth in Q2 2026 is expected to be above 3-year average seasonality.

Income after financial items January – March 2026, was SEK 0.8 (0.3) b.

At the end of the quarter, gross cash (cash, cash equivalents plus interest-bearing securities, current and non-current) amounted to SEK 86.3 (61.2) b.

There was an increase in intercompany lending of SEK 1.1 b. and a decrease in intercompany borrowing of SEK 1.1 b. in the quarter.

At the end of the quarter, non-restricted equity amounted to SEK 33.8 (13.0) billion, and total equity amounted to SEK 82.1 (61.3) b.

The proposed dividend for 2025 of SEK 3.00 per share was approved by the Annual General Meeting on March 31, 2026 (‘‘the AGM’’). The first of two equal dividend payments of SEK 1.50 per share was made on April 9, 2026, and the second will be made with a record date of September 29, 2026, with an expected payment date of October 2, 2026.

The AGM resolved to authorize the Board of Directors to decide on the purchase of the Company’s ordinary Class B shares. The number of shares purchased must at no time result in the Company’s holding exceeding 10 percent of all the shares in the Company.

On April 16, 2026, it was announced that the Board of Directors had resolved to utilize the authorization granted by the AGM to initiate a share buyback program relating to Ericsson’s ordinary Class B shares on Nasdaq Stockholm up to a maximum consideration of SEK 15 billion. The acquisitions are expected to commence on April 23, 2026, at the earliest, and to end no later than March 31, 2027.

The holding of treasury stock on March 31, 2026, was 38,002,276 Class B shares.

Legal proceedings involving governmental authorities

In February 2022, Ericsson publicly disclosed that an internal investigation in 2019 included a review of the conduct of Ericsson employees, vendors and suppliers in Iraq during the period between 2011 to 2019. The investigators could not determine the ultimate recipients of any payments, nor identify that any Ericsson employee was directly involved in financing terrorist organizations. The Company’s 2019 internal Iraq investigation did not conclude that Ericsson made or was responsible for any payments to any terrorist organization.

The Company continues to fully cooperate with the US Department of Justice (DOJ) in its investigation into matters discussed in the 2019 internal Iraq investigation report and related topics concerning jurisdictions including Iraq. As additional information continues to be identified and evaluated in continued cooperation with the DOJ during its ongoing investigation, it is expected that there will not be any conclusive determinations on the outcome until the investigation is completed. The scope and duration of the investigation remain uncertain.

In April 2019, Ericsson was informed by China’s State Administration for Market Regulation Anti-monopoly Bureau (SAMR) that SAMR has initiated an investigation into Ericsson’s patent licensing practices in China. Ericsson is cooperating with the investigation, which is still in a fact-finding phase. The next steps include continued fact-finding and meetings with SAMR in order to facilitate the authority’s assessment and conclusions. In case of adverse findings, SAMR has the power to impose behavioral and financial remedies.

Legal proceedings not involving governmental authorities

In August 2022, a civil lawsuit was filed in the United States District Court for the District of Columbia against Telefonaktiebolaget LM Ericsson and Ericsson Inc. (collectively, the “Ericsson defendants”). The lawsuit was brought by US military service members, employees of US government contractors and other civilians who were killed or injured in terrorist attacks in Iraq, Afghanistan and Syria from 2005 to 2021, as well as by their family members. The lawsuit asserts claims against the Ericsson defendants under the U.S. Anti-Terrorism Act alleging that the Ericsson defendants made payments that ultimately aided the terrorist organizations that committed, planned or authorized the attacks. In November 2022, the Ericsson defendants filed a motion to dismiss the complaint. On December 20, 2022, plaintiffs filed an amended complaint, which added additional plaintiffs, including a plaintiff injured in Turkey, and also named Ericsson AB (collectively with the Ericsson defendants, the “Ericsson corporate defendants”), President and CEO Börje Ekholm and a former employee (who has not been served with process) as additional defendants and also asserted additional allegations and claims. In March 2023, the Ericsson corporate defendants and Mr. Ekholm filed motions to dismiss the amended complaint. Plaintiffs filed their oppositions to defendants’ motions to dismiss the amended complaint in June 2023, and defendants filed reply briefs in support of their motions to dismiss in July 2023. All briefing has been submitted, and resolution of the matter is pending with the District Court. All defendants will continue to vigorously defend this matter.

In February 2024, a second civil lawsuit also alleging violations of the U.S. Anti-Terrorism Act was filed in the United States District Court for the District of Columbia. The lawsuit was filed by the same

law firm and involves substantially similar factual allegations and claims as those made in the Anti-Terrorism Act lawsuit originally filed in August 2022, and similarly names the same Ericsson corporate defendants, President and CEO Börje Ekholm and a former employee as defendants. The new lawsuit was brought by additional US military service members, employees of US government contractors and other civilians who were killed or injured in terrorist attacks in Iraq, Afghanistan, Syria, Turkey, Niger, and France from 2005 to 2021, as well as by their family members. The District Court for the District of Columbia has stayed the proceedings in this matter pending its decision on the motions to dismiss in the earlier-filed suit. The defendants will vigorously defend this matter.

In November 2025, a third civil lawsuit also alleging violations of the US Anti-Terrorism Act was filed in the US District Court for the District of Columbia. The lawsuit was filed by a law firm not involved in the August 2022 and February 2024 lawsuits and involves substantially similar factual allegations and claims to those made in the Anti-Terrorism Act lawsuits filed in August 2022 and February 2024, and similarly names the same Ericsson corporate defendants, CEO Börje Ekholm and a former employee as defendants. The new lawsuit was brought by additional US military service members, employees of US government contractors and other civilians who were killed or injured in terrorist attacks in France, Afghanistan, and Belgium from 2012 to 2018, as well as by their family members. The District Court for the District of Columbia has stayed the proceedings in this matter pending its decision on the motions to dismiss in the earlier-filed suit. The defendants will vigorously defend this matter.

In March 2026, a fourth civil lawsuit also alleging violations of the US Anti-Terrorism Act was filed in the US District Court for the District of Columbia. The lawsuit involves substantially similar factual allegations and claims to those made in the Anti-Terrorism Act lawsuits filed in August 2022, February 2024, and November 2025, and similarly names the same Ericsson corporate defendants, CEO Börje Ekholm and a former employee as defendants. The new lawsuit was brought by additional US military service members and civilians who were killed or injured in terrorist attacks in Afghanistan, Iraq, Niger, Tajikistan and Turkey from 2005 to 2018, as well as by their family members. The District Court for the District of Columbia has stayed the proceedings in this matter pending its decision on the motions to dismiss in the earlier-filed suit. The defendants will vigorously defend this matter.

Beginning on August 4, 2023, a number of civil lawsuits have been filed against Telefonaktiebolaget LM Ericsson in Solna District Court, Sweden. 93 claimants have filed suit, which are coordinated and financed by a UK-based litigation funder. The claimants consist of a group of non-Swedish funds and financial institutions that allegedly are or have been shareholders of the Company. Their damages claims are primarily based on alleged inadequate disclosure of the contents of the Company’s 2019 internal Iraq investigation report. Ericsson filed its statement of defense on March 15, 2024. On February 14, 2025, the District Court ordered Ericsson to produce the 2019 internal Iraq investigation report to the claimants’ external counsel. Ericsson appealed the decision and on August 15, 2025, the Court of Appeal overturned the District Court’s decision. The claimants appealed, but on March 12, 2026,

the Supreme Court refused leave to appeal. Proceedings on the merits of the case will now continue in the District Court. Ericsson will continue to vigorously defend this matter.

The Company actively manages its IPR portfolio and its need for third-party licenses and is involved from time to time, in the ordinary course of business, in litigation related thereto, as plaintiff, defendant and other capacities.

In addition to the proceedings discussed above, the Company is, and in the future may be, involved in various other regulatory investigations, enforcement actions, lawsuits, claims (including claims by third-parties the Company has indemnified against infringement liability or provided guarantees to) and proceedings incidental to the ordinary course of business and transactions.

PRESS RELEASES

Ericsson is exposed to a number of risks in its activities. To stimulate identification and support cross-functional treatment within the Ericsson Group, risks are grouped in a number of categories, including, for example, risks relating to technology, IPR, compliance, project execution, operations, supply chain and sourcing concentration, products and services, customer concentration, treasury and accounting, the geopolitical environment, M&A, cybersecurity and occupational health and safety. Ericsson’s risk management is embedded into strategy development and operational processes, and material Group risks are regularly assessed and reviewed by executives as required by Ericsson’s Material Group Risk Protocol to ensure accountability, effectiveness, efficiency, business continuity and compliance. Risks are defined in both a short-term and long-term perspective and are related to long-term objectives and strategic direction as well as to short-term objectives. Risk factors and uncertainties of relevance to Ericsson are described in the Ericsson Annual Report 2025 and in the Annual Report on Form 20-F for the year ended December 31, 2025 (in the following, the “Annual Report 2025”). See also the risks set out in the section titled “Forward-looking statements.”

Stockholm, April 17, 2026

Telefonaktiebolaget LM Ericsson

Börje Ekholm, President and CEO

Org. No. 556016-0680

Date for next report: July 14, 2026

This report includes forward-looking statements. All statements other than statements of historical fact are forward-looking statements. The words “believe,” “expect,” “foresee,” “anticipate,” “assume,” “intend,” “likely,” “projects,” “may,” “could,” “plan,” “estimate,” “forecast,” “will,” “should,” “would,” “predict,” “aim,” “ambition,” “seek,” “potential,” “target,” “might,” “continue,” or, in each case, their negative or variations, and similar words or expressions are used to identify forward-looking statements. These statements are subject to risks and uncertainties that could cause actual results to differ materially and adversely from those expressed in, or implied or projected by, the forward-looking statements, including, in particular the following:

These forward-looking statements also represent Ericsson’s estimates, assumptions and expectations only as of the date that they were made, and to the extent they represent third-party data, Ericsson has not undertaken to independently verify such third-party data and does not intend to do so. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements and are urged to carefully review and consider the various disclosures made in this report and in other documents Ericsson files from time to time with Ericsson’s regulators that disclose risks and uncertainties that may affect Ericsson’s business. Ericsson expressly disclaims a duty to provide updates to these forward-looking statements, and the estimates and assumptions associated with them, after the date of this report, to reflect events or changes in circumstances or changes in expectations or the occurrence of anticipated events, whether as a result of new information, future events or otherwise, except as required by applicable law or stock exchange regulations.