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 increased by 3% to SEK 55.0 (53.3) b., including a currency benefit of SEK 1.8 b. Networks sales grew by 6% to SEK 35.6 b. Cloud Software and Services sales were stable at SEK 13.0 b. while Enterprise sales declined by -1% to SEK 5.9 b. Sales in segment Other declined by -20% to SEK 0.5 b.

Organic sales were stable YoY. Networks sales grew by 3%* with growth in market area Americas offsetting lower sales in the other market areas, where customer investment levels remained low. Cloud Software and Services sales declined by -3%* as growth in market area South East Asia, Oceania and India was offset by sales decline in the other market areas. Sales in segment Enterprise declined by -7%*. Growth in Enterprise Wireless Solutions was more than offset by lower sales in Global Communications Platform, reflecting the decision to focus on more profitable market segments and to reduce activities in some countries.

IPR licensing revenue was SEK 3.2 (3.1) b. benefiting from new 5G patent licensing agreements signed in 2024. 82% of IPR licensing revenues are reported in segment Networks, with the remainder in Cloud Software and Services. Opportunities to further grow IPR licensing revenues remain.

Gross income and margin

Gross margin increased to 48.2% (42.5%) driven primarily by improved gross margin in Networks, benefiting from product and market mix, and improved supply chain efficiency. Gross margin

also increased in Enterprise benefiting from prioritization of profitable market segments as well as in Cloud Software and Services, benefiting from product mix and improved delivery performance.

Gross income increased to SEK 26.5 (22.7) b. mainly as a result of sales and gross margin growth in Networks. Enterprise gross income increased, reflecting the focus on more profitable market segments. Prior years’ cost-reduction actions positively impacted gross margin and gross income in Mobile Networks. Gross income also had a SEK 0.8 b. currency benefit.

Adjusted gross income increased to SEK 26.7 (22.8) b., with a gross margin of 48.5% (42.7%).

Research and development (R&D) expenses

R&D expenses increased to SEK -12.0 (-11.6) b., including a SEK -0.2 b. currency impact. Increased investments in R&D for technology leadership and operational resiliency were partly offset by savings from cost-reduction actions.

Selling and administrative (SG&A) expenses

SG&A expenses were SEK -8.6 (-8.7) b., including a SEK -0.3 b. currency impact. Increased investments to improve operational effectiveness in Enterprise were offset by a SEK 0.4 b. benefit from lower amortization of intangible assets.

Other operating income and expenses

Other operating income and expenses were SEK 0.0 (2.0) b. Q1 2024 included a one-time gain of SEK 1.9 b. from the resolution of a commercial dispute.

Restructuring charges

Restructuring charges amounted to SEK -0.3 (-0.2) b. mainly related to redundancy activities. Gross income included SEK -0.2 (-0.1) b. of restructuring charges, while operating expenses included SEK -0.1 (-0.1) b. of restructuring charges.

EBITA

EBITA increased to SEK 6.7 (4.9) b. corresponding to an EBITA margin of 12.1% (9.2%). Higher gross income and broadly stable operating expenses were partly offset by lower Other operating income and expenses.

Adjusted EBITA increased to SEK 6.9 (5.1) b. with an adjusted EBITA margin of 12.6% (9.6%).

EBIT

EBIT increased to SEK 5.9 (4.1) b. with an EBIT margin of 10.8% (7.7%). Amortization impacted EBIT by SEK -0.7 (-0.8) b.

Adjusted EBIT increased to SEK 6.2 (4.3) b. The adjusted EBIT margin was 11.3% (8.1%).

Financial income and expenses, net

Financial income and expenses were SEK -0.1 (-0.5) b. Financial net increased primarily as a result of a higher net cash position and lower borrowings. The currency hedge effect was SEK 0.2 (0.1) b.

Income tax

Taxes were SEK -1.6 (-1.0) b. The effective tax rate was 28% (28%).

Net income

Net income increased to SEK 4.2 (2.6) b. The increase in EBIT and improved financial net were partly offset by higher taxes. Diluted EPS increased to SEK 1.24 (0.77).

Employees

The number of employees on March 31, 2025, was 92,866 compared with 94,236 on December 31, 2024.

Changes to market area structure

In February 2025, the Company announced a consolidation of its regional structure, organizing the market areas in a more efficient way. This consolidation resulted in two new market areas: Market Area Americas and Market Area Europe, Middle East and Africa.

Market Area Americas

Sales increased by 20%* YoY, with good growth in North America partly offset by lower sales in Latin America.

In North America, sales in Networks grew strongly, benefiting from previous contract wins and accelerated network investments by other customers, in part reflecting tariff uncertainty. Sales in Cloud Software and Services declined, impacted by the timing of project deliverables. In Latin America, sales decreased due to continued intense competition and lower customer network investments. Reported sales increased by 26% YoY.

In the quarter, it was announced that AT&T, T-Mobile and Verizon will deliver the first advanced Network APIs for number verification and SIM swap in the United States during 2025, to improve security and fraud detection.

Market Area Europe, Middle East and Africa

Sales declined by -7%* YoY. Sales in Europe were stable, supported by market share gains and network modernization. Sales declined in the Middle East as investment levels moderated following recent 5G build-outs, while sales in Africa decreased due to continued macroeconomic headwinds. Reported sales decreased by -5% YoY.

Market Area South East Asia, Oceania and India

Sales decreased by -17%* YoY. Networks sales declined primarily reflecting more normalized operator investment levels in India. Cloud Software and Services sales increased, reflecting timing of project deliverables. Reported sales declined by -16% YoY.

In the quarter, the first programmable network in Asia-Pacific was announced with Telstra, a multi-year core modernization was agreed with One New Zealand, and a 5G Core partnership with Bharti Airtel was announced.

Market Area North East Asia

Sales declined by -8%* YoY. Networks sales declined due to reduced customer investments in some 5G frontrunner markets. Cloud Software and Services sales declined reflecting timing of project deliverables. Reported sales declined by -6% YoY.

Market Area Other

Market area Other includes IPR licensing revenues and almost all sales in segment Enterprise. Sales decreased by -6%* due to sales decline in Enterprise. Reported sales decreased by -3% YoY.

In the quarter, a 5G private network deployment was announced with Jaguar Land Rover Automotive to leverage Ericsson’s high-speed, low latency, and secure private 5G solutions to enhance UK vehicle production with applications such as vision systems, IoT sensors, and production tools.

On April 3, 2025, an IPR partial settlement was announced that will benefit financials from Q2 2025.

Mobile Networks –

Segment Networks

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

Net sales

Sales increased by 3%*, driven by good growth in market area Americas, offsetting a sales decline in the other market areas. Reported sales increased by 6% YoY to SEK 35.6 (33.7) b., including a currency benefit of SEK 1.1 b.

Sales in North America grew strongly, benefiting from earlier contract wins and accelerated network investments by other customers, in part reflecting tariff uncertainty. Sales declined significantly in market area South East Asia, Oceania and India, mainly due to lower sales in India after relatively strong sales in Q1 2024, as well as in market area Europe, Middle East and Africa due to lower sales in Middle East and Africa.

Gross income and margin

Adjusted gross margin increased to 51.0% (44.3%), benefiting from product and market mix, as well as supply chain efficiency improvements and prior years’ cost-reduction actions. Adjusted gross income increased to SEK 18.2 (14.9) b.

EBITA

Adjusted EBITA increased to SEK 7.5 (4.3) b. YoY and the margin was 21.0% (12.7%). The benefit of higher gross income and continued efficiency improvements was partly offset by increased R&D investments. The R&D investments support the strategy to build high-performing programmable networks and ensure continued technology leadership.

Net sales rolling four quarters were SEK 160.1 b. and the adjusted EBITA margin rolling four quarters was 19.3%.

Mobile Networks –

Segment Cloud Software and Services

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

Net sales

Sales decreased by -3%*. Sales increased in market area South East Asia, Oceania and India, benefiting from strong project deliveries in India, offset by lower sales in the other market areas, reflecting timing of project deliverables. Reported sales were stable at SEK 13.0 b., including a currency benefit of SEK 0.4 b. and slight growth in core networks. Services accounted for 64% of sales.

Gross income and margin

Adjusted gross margin increased to 39.9% (37.4%), benefiting from product mix, with higher share of software sales, and the strategic focus on improving commercial discipline and delivery performance. Adjusted gross income increased to SEK 5.2 (4.9) b.

EBITA (loss)

Adjusted EBITA (loss) was SEK 0.2 (-0.3) b. with a margin of 1.2% (-2.3%). The benefit of improved gross income was further supported by lower operating expenses as a result of prior years’ cost-reduction actions. Strategy execution, with a focus on commercial discipline, acceleration of automation, and scalable software deployments, continues.

Net sales rolling four quarters were SEK 62.6 b. and the adjusted EBITA margin rolling four quarters was 4.0%.

Enterprise –

Segment Enterprise

¹Common costs are included at segment level only (not distributed within the segment).

Net sales

Sales declined by -7%* YoY, with lower sales in Global Communications Platform partly offset by growth in Enterprise Wireless Solutions. Reported sales decreased by -1% YoY to SEK 5.9 (6.0) b., including a currency benefit of SEK 0.4 b.

Reported sales in Enterprise Wireless Solutions grew by 20% YoY, driven by higher subscription and product sales in WWAN and continued growth in Private 5G and Neutral Host solutions.

Reported sales in Global Communications Platform declined by -9% YoY, impacted by the decision to focus on more profitable market segments and to reduce activities in some countries.

Gross income and margin

Adjusted gross margin increased to 56.2% (48.1%), benefiting from the decision to focus on more profitable market segments in Global Communications Platform. Adjusted gross income increased to SEK 3.3 (2.9) b. reflecting the decision to focus on more profitable market segments, as well as the timing of payments in Technologies and New Businesses.

EBITA (loss)

Adjusted EBITA (loss) was SEK -0.5 (-0.8) b. The improvement YoY primarily reflected higher gross income. Adjusted EBITA margin was -8.9% (-13.1%).

Investments to improve operational effectiveness in Global Communications Platform increased, offset by lower amortization of intangible assets following the impairment in 2024.

Net sales rolling four quarters were SEK 24.8 b. and the adjusted EBITA margin rolling four quarters was -15.0%.

Segment Other

Net sales

Reported sales declined to SEK 0.5 (0.6) b. reflecting the divestment of the IoT business, partly offset by a slight increase in sales in the media businesses.

Gross income and margin

Adjusted gross income was SEK 0.0 (0.1) b. Adjusted gross margin was 4.2% (18.2%).

EBITA (loss)

Adjusted EBITA (loss) was SEK -0.2 (1.9) b. Q1 2024 included a one-time gain of SEK 1.9 b. from the resolution of a commercial dispute.

Net sales rolling four quarters were SEK 2.1 b.

Cash flow

Cash flow from operating activities was SEK 4.4 (5.1) b. The benefit of increased earnings and lower interest costs was offset by higher operating net assets.

Operating net assets increased, as higher variable incentive and restructuring payments were partly offset by lower operating working capital. Operating working capital decreased by SEK 6.2 b., benefiting from annual IPR payments received in the quarter.

Cash flow from investing activities was SEK 1.3 (-1.3) b. driven by investments in property, plant and equipment and in product development, offset by a positive effect from interest-bearing securities.

Cash flow from financing activities was SEK -0.7 (-8.5) b. mainly driven by repayment of lease liabilities. SEK 1.6 b. of commercial paper was repaid during the quarter, offset by positive effect from received collateral on derivatives. Q1 2024 included SEK -8.4 b. net repayment of long-term borrowings.

Financial position

Gross cash decreased sequentially by SEK -1.7 b. to SEK 74.2 b. driven by positive free cash flow before M&A, offset by a negative effect of exchange rate changes on cash. Ericsson has unutilized committed credit facilities of SEK 30.1 b. (USD 3.0 b.).

The average maturity of parent company borrowings was 3.5 years as of March 31, 2025, compared with 3.7 years as of March 31, 2024.

Net cash increased sequentially by SEK 0.8 b. to SEK 38.6 b. The benefit of positive free cash flow was partly offset by negative currency impacts on cash and borrowings.

Liabilities for post-employment benefits decreased to SEK 21.8 b. from SEK 24.4 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 12.2 b. (SEK 9.6 b. lower than current DBO).

Market

Dell’Oro estimates that the global RAN equipment market will remain stable in 2025.

Source: Dell’Oro Mobile RAN Quarterly Report Q424, March 2025.

Ericsson

Net sales

Reported average seasonality last 3 years (2022–2024), %.

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

Currency exposure

Rule of thumb: A 10% appreciation/depreciation in the USD vs. SEK would have a positive/negative impact of approximately 5% on net sales.

Amortization of intangible assets

Amortization of intangible assets is expected to be around SEK -0.5 b. per quarter, of which approximately SEK -0.4 b. related to segment Enterprise.

Restructuring charges

Restructuring charges for 2025 are expected to remain at elevated levels.

Segments

There remains increased uncertainty on the outlook for Q2 2025, both in terms of potential for further tariff changes as well as in the broader macroeconomic environment.

Networks

Sales growth in Q2 2025 is expected to be broadly similar to 3-year average seasonality.

Based on our current assessment of announced tariffs, and including a negative impact from tariffs estimated at approximately 1 percentage point, adjusted gross margin in Q2 is expected to be in the range of 48% to 50%.

Cloud Software and Services

Sales growth in Q2 2025 is expected to be broadly similar to 3-year average seasonality.

Income after financial items January – March 2025, was SEK 0.3 (2.6) b.

At the end of the quarter, gross cash (cash, cash equivalents plus interest-bearing securities, current and non-current) amounted to SEK 61.2 (37.1) b.

There was a decrease in intercompany lending of SEK 1.3 b. and an increase in intercompany borrowing of SEK 0.2 b. in the quarter.

At the end of the quarter, non-restricted equity amounted to SEK 13.0 (29.8) billion, and total equity amounted to SEK 61.3 (78.0) b.

The proposed dividend for 2024 of SEK 2.85 per share was approved by the AGM on March 25, 2025. The dividend will be paid in two installments. The first dividend payment of SEK 1.43 per share was made with the record date of March 27, 2025, with a payment date of April 1, 2025. The second dividend payment of SEK 1.42 per share will be made with the record date September 29, 2025, with an expected payment date of October 2, 2025.

The holding of treasury stock on March 31, 2025, was 15,579,561 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 DOJ in its investigation into matters discussed in the 2019 internal Iraq investigation report and related topics concerning jurisdictions including Iraq, and the Company is providing additional documents and other information which continue to be requested by the DOJ. 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 remains uncertain.

As part of its defense to a now settled patent infringement lawsuit filed by Ericsson in 2013 in the Delhi High Court against Indian handset company Micromax, Micromax filed a complaint against Ericsson with the Competition Commission of India. The Competition Commission of India decided to refer the case to the Director General’s Office for an in-depth investigation. The Competition Commission of India opened similar investigations against Ericsson in January 2014 based on claims made by Intex Technologies (India) Limited and, in 2015, based on a now settled claim from iBall. Ericsson has challenged Competition Commission of India’s jurisdiction in these cases before the Delhi High Court. On July 13, 2023, the Division Bench of the Delhi High Court found that in this instance the Competition Commission of India has no power to conduct the pending investigations against Ericsson. The Competition Commission of India has appealed this order to the Supreme Court of India.

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.

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 has appealed the decision. While proceedings on the merits of the case are stayed pending final resolution of the document production issue, the District Court has scheduled a preliminary

hearing for October 16, 2025. Ericsson will continue to vigorously defend this matter.

As previously disclosed, Ericsson has been involved in a global patent infringement dispute with certain Lenovo entities since October 2023. On April 3, 2025, the parties reached a partial settlement, entering into a global patent license agreement. The parties have agreed to withdraw from all pending legal proceedings and submit the outstanding portion of the dispute to arbitration.

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, 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.

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, products and services, 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 2024 and in the Annual Report on Form 20-F for the year ended December 31, 2024 (in the following, the “Annual Report 2024”). See also the risks set out in the section titled “Forward-looking statements.”

Stockholm, April 15, 2025

Telefonaktiebolaget LM Ericsson

Börje Ekholm, President and CEO

Org. No. 556016-0680

This report has not been reviewed by Telefonaktiebolaget LM

Ericsson auditors.

Date for next report: July 15, 2025

Media and analyst briefing

Ericsson invites media, investors and analysts to a conference call

and live video webcast at 9:00 AM CEST on April 15, 2025.

Link to the webcast, dial-in to audio conference, supporting

material and replay will be available at:

www.ericsson.com/investors and

www.ericsson.com/newsroom

For further information, please contact:

Lars Sandström, Senior Vice President, Chief Financial Officer

Phone: +46 72 161 20 04

E-mail: investor.relations@ericsson.com

Stella Medlicott, Senior Vice President, Chief Marketing and

Communications Officer

Phone: +46 73 095 65 39

E-mail: media.relations@ericsson.com

Telefonaktiebolaget LM Ericsson

Org. number: 556016-0680

Torshamnsgatan 21

SE-164 83 Stockholm

Phone: +46 10 719 00 00

www.ericsson.com

Investors

Daniel Morris, Vice President,

Head of Investor Relations

Phone: +44 7386 657217

E-mail: investor.relations@ericsson.com

Lena Häggblom, Director,

Investor Relations

Phone: +46 72 593 27 78

E-mail: lena.haggblom@ericsson.com

Alan Ganson, Director,

Investor Relations

Phone: +46 70 267 27 30

E-mail: alan.ganson@ericsson.com

Media

Ralf Bagner, Head of Media Relations

Phone: + 46 76 128 47 89

E-mail: media.relations@ericsson.com

Corporate Communications

Phone: +46 10 719 69 92

E-mail: media.relations@ericsson.com

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 our estimates, assumptions and expectations only as of the date that they were made, and to the extent they represent third-party data, we have not undertaken to independently verify such third-party data and do 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 we file from time to time with our regulators that disclose risks and uncertainties that may affect our business. We expressly disclaim 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.