Current Report No. 49/2026 dated October 23, 2026

The Management Board of VIGO Photonics S.A., with its registered office in Ożarów Mazowiecki (the “Company”, the “Issuer”), announces that it has made the decision to terminate, in its current framework under the IPCEI mechanism, the implementation of the project “HyperPIC – Photonic Integrated Circuits for Mid-Infrared Applications”, which results in the termination by mutual consent of the grant agreement concluded with the National Centre for Research and Development (NCBR).

In the Management Board’s assessment, the level and terms of the granted financial support are, in the current business situation, inadequate to the scale of required expenditures and the high technological and market risks associated with carrying out such a capital-intensive undertaking. The original assumptions of the HyperPIC project required the Issuer's own capital commitment exceeding PLN 150 million in the research and development (R&D) phase alone, which would entail a long-term lock-up of working capital. To mitigate this risk, VIGO conducted intensive talks with an international industry partner with the intention of establishing a joint venture.

Changes in the global macroeconomic environment and shifting investment priorities within the semiconductor industry prevented the finalization of terms satisfactory to the Issuer’s shareholders. The decision was also driven by the Company’s intensive involvement in strategic projects that are critical to the interests of the Polish defense sector and currently represent an important operational priority.

Upon signing the agreement on terminating the Agreement by mutual consent, the Company concurrently concluded the review of strategic options, about which it informed in its report of September 20, 2024 (Current Report No. 27/2024).

The Company’s Management Board emphasizes that photonic integrated circuit (PIC) technology remains one of the pillars of VIGO Photonics’ long-term product strategy. Research and development activities will continue at a scale adjusted to the Company’s current budgetary capabilities, as well as based on alternative, more flexible national and EU grant programs.

The decision to terminate the agreement and withdraw from participation in the IPCEI mechanism does not have a negative impact on the Company’s financial and liquidity position. Due to the fact that the Company did not draw any advance payments or reimbursements under the awarded grant, the termination of the agreement does not entail the repayment of any funds to the financing institution.