Capital, Momentum, and Scale - Building the Future of BeammWave

With the highly anticipated match between Sweden and Japan just around the corner, excitement is certainly building. Given our deep strategic ties, growing customer base, and expanding partnerships in the Japanese market, this particular game holds a special place for us at BeammWave. May the best team win!

Regardless of the weather or the final score on the pitch, we have fresh capital, and with this comes loads of new energy, momentum, and confidence.

At the start of this year, I wrote that 2026 would be our most pivotal year yet. Looking back at the sheer scale of what we have accomplished over the past six months, it is clear that BeammWave is not just meeting that expectation, we are accelerating past it. We asked for your backing to speed up our industrialization, and today I am writing to you from a significantly strengthened, heavily validated company.

2026 Mid-Year Strategic Highlights

Capital & Corporate Growth

• A Historic - Cost-Effective Capital Raise: We successfully secured almost 100 MSEK in growth capital. Executed from an already strong cash position, this raise was completed with a modest discount and entirely without the need for expensive underwriting guarantees. This underscores both the strength of our position and the cost effectiveness of the transaction. What stands out the most is the overwhelming support from you, our shareholders, alongside the strong backing of current owners, including our largest owner to date, Concejo. The Rights Issue achieved a 276.4% subscription rate.
• A Significantly Stronger Ownership Base: We have seen a strong increase in our number of owners, now approaching 4,700 shareholders, an increase of nearly 12% year to date. This fantastic growth from the public, while welcoming new tier one institutional investors like Meta Space Fund, Nowo Global Fund, and the highly reputable, locally based LMK Industri, forms a stronger and more stable ownership base for our future. Having the backing of such a respected local institution is a particularly strong stamp of approval for us.
• Strategic Shift & Peace of Mind: With our financial foundation significantly strengthened, our undivided focus has shifted from "Building Technology" to "Building the Company". For us, building the company means maximizing the efficiency of our existing engineering team while precisely identifying the key profiles needed to scale our commercial volume. This capital injection provides us with a comfortable runway and the strategic room to maneuver. When we consider the unprecedented number of black swan events and global geopolitical shifts we have navigated during our first six years as a company, securing this level of stability provides a critical foundation for our next phase. Speaking personally, it also gives me the peace of mind and confidence to focus entirely on leading our growth and execution.

Operational Expansion - Talent & Community

• Scaling the Team: To support this new phase, we have grown our engineering team by 50% over the past year. Building a world-class technology company requires world-class talent, and we are incredibly proud to have attracted top engineers from across the globe, creating a highly diverse, international team that drives our innovation forward.
• Facility Expansion: As a direct result of this rapid scaling, our recently expanded office is once again operating close to capacity. To accommodate this growing team and ensure we have the necessary footprint for new projects, we are actively rebuilding and expanding our system lab.
• Brand Momentum: Our online community continues to expand rapidly. We have now surpassed 6,500 followers on LinkedIn, adding over 1,000 new followers in the past year alone, reflecting our increasing influence and visibility within the global tech ecosystem.

Partnerships & Market Reach

• Global Presence & Exhibitions: We continue to elevate our profile on the global stage, showcasing our technology at major industry events including MWC in Barcelona and Wireless Japan. Earlier this spring we also proudly co-exhibited with the XG Mobile Promotion Forum (XGMF) during the 3GPP meeting in Fukuoka, Japan, directly demonstrating our digital beamforming capabilities to key standardization stakeholders.
• Japan Market Shifts: Following our activities at Wireless Japan, we are seeing a structural shift where major Japanese operators are actively exploring shared mmWave repeaters to solve deployment economics. This urgency directly aligns with our digital beamforming architecture.
• East Asian Expansion: To further capitalize on the immense opportunities across the region, we recently expanded our commercial footprint by adding a dedicated representative in South Korea.
• Untapped Potential in Satcom & Defense: As we look beyond our traditional telecom base, we see massive, untapped potential in adjacent, high-value sectors. The rapid evolution of Satellite Communications (Satcom and NTN) is moving quickly from an experiment into early commercial reality. We see a clear surge in satellite to cellphone services, mobile backhaul, and operator partnerships globally. This is an incredibly interesting market trend that plays directly to our core strengths. The complex implementation models and varying frequency bands inherent to these satellite networks mean that our deep system knowledge gives us a significant head start. Combined with the rigorous demands of the defense industry, these sectors present compelling use cases for our unique digital beamforming architecture, and our ongoing dialogues regarding domestic defense applications remain in constant, positive motion.

Product & Technical Leadership

• Silicon & System Development Progress: The development of our next generation semiconductor components and system platforms is advancing strongly. The multi-stage process of bringing advanced silicon to market, spanning design, manufacturing, outsourced assembly and test (OSAT) preparations, and system bring-up, is tracking to our internal schedules. This steady execution ensures we remain ready to meet the technical demands of our expanding customer base.
• 6G Standardization Win: Following intense efforts at the recent 3GPP meetings in Dalian, China, and Singapore, the agreed FR2 study is now officially captured in the RAN level 6G Study Item status report. In practical terms, this effectively cements Digital Beamforming as a reference architecture in the upcoming 6G standards, and as of the latest plenary meetings, our solution continues to see broad support and strong consensus. Cementing our architecture in the global 6G foundation is a monumental validation of our technology, and we are taking a leading role in driving the final outcome.
• Intellectual Property: We have officially surpassed 50 active patent families and are maintaining a steady filing pace as we approach future Standard Essential Patent (SEP) opportunities.
• Technology Briefing: For those who wish to dive deeper into our core advantages, I encourage you to revisit our Product & Technology Briefing from December 15. The full recording is still available on our website and provides a comprehensive overview of why digital beamforming unlocks the next generation of connectivity.

Customer & Partner Progress

• Expanding Commercial Pipeline: We are continuing to build on our strong commercial pipeline across our key segments. We are opening new customer dialogues and signing new NDAs. We are also increasingly engaging in three-party discussions. While these multilateral dialogues are slightly more complicated to navigate, they carry significantly higher commercial potential by aligning multiple parts of the value chain at once.
• Momentum with Key Partners: By focusing on both existing customers and new partners, we are seeing great momentum across the board. With disclosed partners like Molex and Alpha Networks, our integration efforts are progressing well. We are also very pleased to include Nitto in this mix. We are actively pursuing the goals of our Joint Development Agreement (JDA) and making good progress both technically and on the underlying business models. We are also advancing development with our previously announced tier one Asian market leader.
• Application Diversity: An exciting dimension of this expanding pipeline is seeing firsthand the diverse requirements for different applications. This drives a need for varying building practices and integration strategies, which perfectly validates the flexibility and core value of our digital beamforming architecture.

Execution - It Is Up To Us

Our mandate has never been clearer. We have secured substantial growth capital, 3GPP has validated digital beamforming, and our customer pipeline is expanding. The market validation is there, the foundation is built, and the focus is now squarely on execution. It is up to us to deliver.

A Message of Gratitude

Thank you for your overwhelming support, your engagement, and your continued confidence in our vision. I truly value the ongoing communication with all of you, whether you are a customer, partner, supporter, or shareholder. Your backing makes all the difference as we continue to live by our “a little bit better every day” philosophy.

With warm and sunny greetings,

Stefan
CEO, BeammWave AB

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