Emotra : 220523 Interim report Jan-Mar 2022

Interim report, 24 May 2022

Emotra AB (publ)

Corporate identity number: 556612-1579

Emotra AB (publ)

Interim report

1 January - 31 March 2022

The Board and CEO of Emotra AB hereby present the interim report for the first three months of 2022.

Summary of the parent company for the period January-March 2022

• Net sales for the period were 0 kSEK (0)
• The net operating income was -1,988 kSEK (-1,662)
• The net operating income per share after dilution was -0.005 SEK (-0.03)
• At the end of the period, liquid assets amounted to 2,457 kSEK (2,532)

Summary of the consolidated company for the period January-March 2022

• Net sales for the period were 0 kSEK (0)
• The net operating income was -3,405 kSEK (0)
• The net operating income per share after dilution was -0.1 SEK (-0.15)
• At the end of the period, liquid assets amounted to 2,471 kSEK (0)

Significant events in the first quarter

• A paper about our clinical multi-center study EUDOR-A, which confirmed the study's hypothesis, was published in Frontiers in Psychiatry
• Three members of the board announced their resignations
• Spotlight Stock Market decided to halt Emotra's re-listing process
• Emotra announced that shares can be traded through Mangold's OTC list until a new official listing is secured
• Our President Daniel Poté announced his resignation

Significant events after closing of books

• Emotra called an extraordinary shareholder meeting to elect a new board of directors
• Daniel Rudeklint, the Company's CFO, was appointed acting President

1

Interim report, 24 May 2022

Emotra AB (publ)

Corporate identity number: 556612-1579

Comments from our acting president

After an exciting 2021, in which our acquisition of NeuraMetrix Inc. was the most significant event, the focus of our operations has been on integrating our North American subsidiary with Emotra. The acquisition was carried out by merging NeuraMetrix Inc. with the newly formed American company NeuraMetrix USA Inc. and the issue of replacement shares. As a result of this merger, NeuraMetrix USA Inc. took over Metrix Inc.'s intellectual property and obligations.

As we have previously announced, the background and justification for this transaction was that it would provide greater opportunity for Emotra to create value for its shareholders. The acquisition is expected to generate synergies, since the two companies' goals, markets, customers, geographical focus, and the problems their respective technologies solve, complement each other perfectly.

A re-listing process on Spotlight Stock Market, which is a standard procedure in this type of transaction, began during the autumn of 2021. On 18 February 2022, Spotlight communicated its decision to halt Emotra's re-listing process. The Company's board of directors have rejected the reasoning for this decision and our opinion is that Spotlight's behaviour is both regrettable and incomprehensible. Emotra has since then signed an agreement with Mangold Fondkommission concerning a listing of the Company's shares on Mangold's OTC list. The board has initiated the process of applying for a listing on another official exchange.

During this period, three board members announced their resignations due to high workloads. Emotra subsequently called an extraordinary shareholder meeting to elect a new board of directors. The extraordinary meeting decided to reappoint Claes Holmberg, Anders Blom, and Ingela Hallberg, as well as elect me, Daniel Rudeklint, as a new member. When Daniel Poté announced his resignation as President on 1 May, the board decided to appoint me as the Company's acting president until a new president has been recruited. I will also continue to act as the Company's CFO.

During this period, NeuraMetrix has continued to work present and future customers in the USA, marketing its technology toward both pharmaceutical companies and academia. One focus area is to generate data about new indication areas for the technology, but also to compare with current methods of evaluating and following up neurodegenerative diseases.

In January 2021, we published important data which show that hyporeactive patients are nearly five times as likely to suffer a depression relapse. After a long waiting period, in February 2022 Emotra was able to announce that our clinical multi-center study EUDOR-A has been published in Frontiers in Psychology. The findings correlate by and large with the data that Emotra has previously disclosed in press releases and interim reports.

I am very excited about our work building a future-oriented structure and organisation that will enable the Company to grow in our indication areas.

Stockholm, 24 May 2022

Daniel Rudeklint, acting President

2

Interim report, 24 May 2022

Emotra AB (publ)

Corporate identity number: 556612-1579

NeuraMetrix Typing Cadence

New possibilities and greater market potential

The acquisition of NeuraMetrix Typing Cadence allows us to address a major challenge for diseases such as Parkinson's, Alzheimer's, depression, anxiety, bipolar disorder and schizophrenia. The currently used evaluation methods are time-consuming and are neither precise nor reliable. Furthermore, the sector lacks resources such as correctly trained personnel, which often leads to patients who are suffering from neurological disorders having to meet up to 3 different health care workers per year.

This makes it very difficult to make a correct early diagnosis, adapt the patient's treatment to his/her individual circumstances and follow the patient's progress. There is a lack of quantitative and objective methods that in a cost-effective manner can provide the kind of data that is needed.

The Typing Cadence (TC) product

This technology measures our strongest habit - how we type on a keyboard. This habit is hard-coded in our brains and when the brain is afflicted by disease, this breaks the hard-coding and the behaviour starts to vary more and more. However, this process is very slow and occurs in increments, which makes it difficult to detect and assess. Measurement is performed in milliseconds, which enables the detection of subtle changes, for example to identify neurodegenerative illnesses far earlier than currently used methods allow. NeuraMetrix TC has several applications:

• Discovering very small changes in a person's cognitive and motor functions.
• Detect patient events such as depressions or multiple sclerosis attacks.
• Continuous measurement of disease progression and treatment effects.

The product is non-invasive, independent of language, culture and level of education, and does not require tests, sensors, or the presence of a physician. The system is a completely software-based digital biomarker that provides continuous real-time data about cognitive and motor functions. The data can easily be extracted for analysis to identify specific events, monitor medication, and track long-term trends. The below example is of a patient that is undergoing standard treatment for Parkinson's disease. It shows how medication keeps the patient's values normal for certain periods and is then increasingly inconsequential during other periods.

Higher inconsequence -

Medication has little or no effect

Lower inconsequence with normal values - Medication is effective

3

Interim report, 24 May 2022

Emotra AB (publ)

Corporate identity number: 556612-1579

The system is marketed to pharmaceutical companies, clinics, and researchers. The technology is protected by a number of pending or granted patents, which allows the Company to use its technology in several neurological and psychiatric indication areas.

Our vision is that NeuraMetrix TC will become the leading tool for measuring and monitoring neurological health in CNS diseases, psychiatric disorders, and neurological damage. Eventually, we see NeuraMetrix TC being used to proactively measure neurological health in order to detect early signs of change.

EDOR®

The method

EDOR, which stands for "Electro Dermal Orienting Reactivity", is a method that contributes biological data by identifying hyporeactive patients. Hyporeactivity is a biological marker that enables a more all-round evaluation, independent of clinical scales or the patient's age and gender. EDOR tests the patient's response to repeated stimuli, whereby patients who cease to react very quickly or who don't react at all are identified as hyporeactive. Hyporeactive, depressed patients have been shown to be more prone to suicide attempts, suicide, and run a five times greater risk of depression relapse.

An EDOR product system comprises three parts: headphones, the EDOR-Box, and a computer. The headphones, which are connected to the EDOR box, are calibrated to consistently play a neutral audio signal. The EDOR box generates the headphone signals and registers the patient's reaction. The file with the patient's response data is then analysed to determine whether he/she is hyporeactive.

4

Interim report, 24 May 2022

Emotra AB (publ)

Corporate identity number: 556612-1579

The Company; significant events during the period January-March 2022

A paper about our clinical multi-center study EUDOR-A, which confirmed the study's hypothesis, was published in Frontiers in Psychiatry

On 7 February, Emotra announced that our study, which examines hyporeactivity in depressed patients and its connection to the risk of suicide and suicide attempts, has been published. The published study demonstrates that hyporeactive patients run a greater risk of suicide attempts compared with normally reactive patients. The findings correlate by and large with the data that Emotra has previously disclosed in press releases and interim reports.

Three members of the board announced their resignations

On 2 February, Martin Schalling and Roy Anderson notified the Company of their resignations from the board of directors, citing personal reasons and high workloads. When they left their positions, we assumed that the board would continue working with two vacancies until the annual shareholder meeting on 21 June 2022, at which point a new board is to be elected. However, a new board was elected at the extraordinary meeting held on 27 April 2022, since Julia Viklund in the interim also decided to resign from the board for personal reasons.

Our re-listing process with Spotlight has been halted

On 18 February, Emotra was notified by Spotlight Stock Market that they had decided to halt the ongoing re-listing process. The last trading day on Spotlight was set to 18 March. Spotlight has justified this decision by saying that Emotra had submitted incorrect information during the review, without being able to satisfactorily specify which information they were referring to. Emotra has rejected the reasoning behind this decision.

Trading until a new official listing is secured

On 16 March Emotra announced that we had reached an agreement with Mangold Fondkommissionto list our shares for trading on Mangold's OTC list. The last trading day on Spotlight was 18 March. Emotra has expressed its intent to have the Company's shares listed on another exchange and that the period between official listings shall be as short as possible.

Our President Daniel Poté announced his resignation

On 11 March Emotra informed the market that the Company's President, Daniel Poté, had tendered his resignation. He left Emotra on 1 May 2022 and has been replaced by our CFO, Daniel Rudeklint, who was appointed acting president on 2 May 2022.

Significant events after closing of books

Notice of extraordinary meeting of shareholders

On 12 April Emotra called an extraordinary shareholder meeting to elect Daniel Rudeklint as a new member of the board of directors.

5