Guidance updated to reflect Hearing business being treated as discontinued operations

Following the company announcement on March 16, 2026 (“GN Store Nord A/S enters into agreement to sell its Hearing business to Amplifon S.p.A. for DKK 17.0 billion”), GN is now reintroducing a profitability guidance for the continuing operations, and is updating its organic revenue guidance for 2026.

Organic revenue growth
The development in the Gaming business year-to-date has been in line with the prior assumptions for the year, why it is still assumed that Gaming will contribute with organic revenue growth of 7% to 13% for 2026.

As for Enterprise, the performance across North America and APAC year-to-date has also been in line with the prior assumptions for the year, including strong organic revenue growth in Q1 2026. However, the recent geopolitical uncertainty has negatively impacted the expected market recovery in EMEA. It is now assumed that the markets across EMEA will continue to be pressured throughout 2026. In addition, it is assumed that GN will experience some level of channel inventory reductions in EMEA in the short term. Due to the relative size of the EMEA market, it is now assumed that the global addressable market of Enterprise will be in some level of modest decline throughout 2026. Driven by a gradual launch of the Evolve3 headset portfolio, other product introductions and strong execution, it is still assumed that the Enterprise division will drive market share gains in 2026. Consequently, it is assumed that Enterprise will contribute with organic revenue growth of -3% to +3% in a modestly declining market.

As a consequence of the reduced market growth assumption in EMEA in Enterprise and some further channel inventory reductions, GN Store Nord (continuing operations) is adjusting its organic revenue growth guidance from 2% to 8% to now 0% to 6%

EBITA margin
To drive a sustainable short- and long-term margin structure for the Group, GN is taking actions to set the company up for long-term profitable growth. During the rest of this year, GN will be executing cost initiatives across the continuing operations that are expected to lead to run-rate structural cost savings (compared to 2026) of around DKK 200 million, which will positively impact 2027 and beyond. These structural cost savings will counter the DKK 200 million in “stranded costs”, which are the shared group costs that will remain in the continuing operations following the transaction.

To drive the carve-out process, and to improve cost and productivity, GN will incur one-off cash costs of around DKK 750 million across 2026 and 2027, of which 75% is expected in 2026. The one-off cash costs will be a combination of transaction costs, carve-out costs and right-sizing costs. In addition, a number of non-cash balance sheet impairments have been executed across continuing and discontinued operations of around DKK 1,300 million for 2026.

The adj. EBITA margin (excluding one-off costs) for the continuing operations is expected to be 8-9% in 2026 (compared to 7.6% in 2025), and on top of this, GN expects a further run-rate cost benefit of around 2 percentage points from the announced cost actions to positively impact 2027.

Financial guidance for 2026 (continuing operations)

Organic revenue growth		Adj. EBITA margin
Updated	Prior	Updated	Prior
0% to 6%	2% to 8%	8% to 9%	Suspended

GN expects to publish its Q1 2026 interim report later tonight.

For further information, please contact:

Investor Relations
Rune Sandager +45 45 75 92 57


Media Relations
Helge Coroli Frandsen +45 22 94 98 24

This announcement contains inside information within the meaning of Article 7 of Regulation (EU) No 596/2014 (the Market Abuse Regulation).

Forward-looking statements
The forward-looking statements in this report reflect the management's current expectations of certain future events and financial results. Statements regarding the future are, naturally, subject to risks and uncertainties, which may result in considerable deviations from the outlook set forth. Furthermore, some of these expectations are based on assumptions regarding future events, which may prove incorrect. Changes to such expectations and assumptions will not be disclosed on an ongoing basis, unless required pursuant to general disclosure obligations to which GN is subject.

Factors that may cause actual results to deviate materially from expectations include – but are not limited to – general economic developments and developments in the financial markets as well as foreign exchange rates, technological developments, changes and amendments to legislation and regulations governing GN’s markets, changes in the demand for GN's products, competition, fluctuations in sub-contractor supplies, and developments in ongoing litigation (including but not limited to class action and patent infringement litigation in the United States).

For more information, please see the "Management's report" and "Risk management” sections in the Annual Report. This announcement should not be considered an offer to sell or buy securities in GN.

About GN
GN facilitates communication between people through intelligent hearing, audio, video, and gaming technology. Inspired by people and driven by our passion for innovation, we leverage technologies to deliver unique user experiences that bring people closer through the power of sound and vision.

GN was founded more than 150 years ago with a vision to connect the world. Today, we proudly honor that legacy with our world-leading expertise in the human ear, audio, video and speech, wireless technologies, software, miniaturization, and collaboration with leading technology partners. GN's solutions are marketed by the brands ReSound, SteelSeries, Jabra, Beltone, Interton, BlueParrott, Danavox and FalCom in 100 countries. Founded in 1869, the GN Group employs 7,000 people and is listed on Nasdaq Copenhagen (GN.CO).

Visit our homepage GN.com - and connect with us on LinkedIn, Facebook and X.