# EDGAR Filing Document

**Accession Number:** 0000717826
**File Stem:** 0001193125-26-284531
**Filing Date:** 2026-6
**Character Count:** 49088
**Document Hash:** 9a3e9151ba2aadfde24a70a4ca0272c0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-284531.hdr.sgml**: 20260626

**ACCESSION NUMBER**: 0001193125-26-284531

**CONFORMED SUBMISSION TYPE**: 11-K

**PUBLIC DOCUMENT COUNT**: 39

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260626

**DATE AS OF CHANGE**: 20260626

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ERICSSON LM TELEPHONE CO
- **CENTRAL INDEX KEY:** 0000717826
- **STANDARD INDUSTRIAL CLASSIFICATION:** RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **STATE OF INCORPORATION:** V7
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 11-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-12033
- **FILM NUMBER:** 261125901

**BUSINESS ADDRESS:**
- **STREET 1:** TORSHAMNSGATAN 21 - 23
- **CITY:** STOCKHOLM SWEDEN
- **STATE:** V7
- **ZIP:** 164 83
- **BUSINESS PHONE:** 46107190000

**MAIL ADDRESS:**
- **STREET 1:** S 164 83 STOCKHOLM
- **CITY:** SWEDEN
- **STATE:** V7
- **ZIP:** 0000

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LM ERICSSON TELEPHONE CO
- **DATE OF NAME CHANGE:** 19911030

?xml version='1.0' encoding='ASCII'? 11-K

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, DC 20549

### FORM 11-K

#### ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES

#### EXCHANGE ACT OF 1934

#### For the fiscal year ended December 31, 2025

## ERICSSON US 401(k) Plan

#### (Title of the Plan)

#### ERICSSON INC

#### Formerly Anaconda-Ericsson Inc. and Ericsson North America Inc.

#### 6300 Legacy Drive

#### Plano, TX 75024

#### (Name and address of principal executive offices of the employer sponsoring the Plan)

## TELEFONAKTIEBOLAGET LM ERICSSON

#### (Exact name of Issuer as specified in its charter)

## LM ERICSSON TELEPHONE COMPANY

#### (Translation of Issuer's Name into English)

#### Kingdom of Sweden

#### (Jurisdiction of Incorporation)

#### (Telefonplan, S-126-25 Stockholm Sweden)

#### (Name and address of principal executive offices of the Issuer of the securities)

------

#### ERICSSON US 401(k) PLAN

#### FINANCIAL STATEMENTS, SUPPLEMENTAL

#### SCHEDULES AND REPORT OF INDEPENDENT

#### REGISTERED PUBLIC ACCOUNTING FIRM

#### DECEMBER 31, 2025 AND 2024

------

#### **Table of Contents**

---

| | |
|:---|:---|
| ERICSSON US 401(k) PLAN<br>INDEX TO FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES<br>| Page |
| [Report of Independent Registered Public Accounting Firm](#tx154613_1) | 3 |
| Financial Statements: |  |
| [Statements of Net Assets Available for Benefits at December 31, 2025 and 2024](#tx154613_2) | 5 |
| [Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 2025](#tx154613_3) | 6 |
| [Notes to Financial Statements as of December 31, 2025 and 2024 and for the Year Ended December 31, 2025](#tx154613_4) | 7 |
| Supplemental Schedules: |  |
| [Schedule H, line 4a – Schedule of Delinquent Participant Contributions December 31, 2025](#tx154613_5) | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Schedule H, line 4i – Schedule of Assets (Held at End of Year) December 31, 2025](#tx154613_6) | 18 |

---

------

#### Report of Independent Registered Public Accounting Firm
To the Plan Administrator and Participants

Ericsson US 401(k) Plan

Plano, Texas

#### Opinion on the Financial Statements
We have audited the accompanying statements of net assets available for benefits of the Ericsson US 401(k) Plan (the "Plan") as of December 31, 2025 and 2024, the related statement of changes in net assets available for benefits for the year ended December 31, 2025, and the related notes (collectively, the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2025 and 2024, and the changes in net assets available for benefits for the year ended December 31, 2025, in conformity with accounting principles generally accepted in the United States of America.

#### Basis for Opinion
These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on the Plan's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risk of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by the Plan's management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

#### Supplemental Information
The supplemental information in the accompanying ERISA-required Supplemental Schedule H, line 4i – Schedule of Assets (Held at End of Year) as of December 31, 2025 and the ERISA-required Supplemental Schedule H, line 4a – Schedule of Delinquent Participant Contributions for the year ended December 31, 2025 have been subjected to audit procedures performed in conjunction with the audit of the Plan's financial statements. The supplemental information is presented for the purpose of additional analysis and is not a required part of the financial statements but included supplemental information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental information is the responsibility of the Plan's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness

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#### **Table of Contents**
and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ BDO USA, P.C.

We have served as the Plan's auditor since 2004.

Dallas, Texas

June 26, 2026

------

ERICSSON US 401(k) PLAN

#### STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

#### DECEMBER 31, 2025 AND 2024

#### (Thousands of dollars)

---

| | | |
|:---|:---|:---|
|  | 2025 | 2024 |
| Assets |  |  |
| Investments |  |  |
| Investments, at fair value | $3750364 | $3497057 |
| Investments, at contract value | 263644 | 263101 |
| Total investments | 4014008 | 3760158 |
| Receivables |  |  |
| Notes receivable from participants | 10440 | 11424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Participants' contributions receivable | 54 | 49 |
| Employer's contributions receivable | 1199 | 1273 |
| Other receivables | 288 | 656 |
| Total receivables | 11981 | 13402 |
| Total Assets | 4025989 | 3773560 |
| Payables |  |  |
| Operating and other payables | 301 | 655 |
| Net assets available for benefits | $4025688 | $3772905 |

---

See accompanying notes to the financial statements.

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#### **Table of Contents**
ERICSSON US 401(k) PLAN

#### STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS

#### FOR THE YEAR ENDED DECEMBER 31, 2025

#### (Thousands of dollars)

---

| | |
|:---|:---|
| ADDITIONS |  |
| Investment income: |  |
| Net appreciation in fair value of investments | $547360 |
| Dividends and interest | 18554 |
| Total investment income | 565914 |
| Interest on participant notes receivable | 909 |
| Contributions: |  |
| Participants | 66479 |
| Employer | 41953 |
| Rollover | 5622 |
| Total contributions | 114054 |
| Total Additions | 680877 |
| DEDUCTIONS |  |
| Benefits paid to participants | (423448) |
| Corrective distributions | (17) |
| Deemed distributions | (446) |
| Administrative expenses | (4183) |
| Total Deductions | (428094) |
| Net increase | 252783 |
| Net assets available for benefits: |  |
| Beginning of year | 3772905 |
| End of year | $4025688 |

---

See accompanying notes to the financial statements.

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#### **Table of Contents**
ERICSSON US 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

#### AS OF DECEMBER 31, 2025 AND 2024, AND FOR THE YEAR ENDED DECEMBER 31, 2025

#### (Thousands of dollars)
1. THE PLAN

The Plan is a single employer plan.

Effective August 24, 2009, a Master Trust was created to permit the commingling of trust assets of both the Plan and the Ericsson Services 401(k) Plan. On December 28, 2012 the Ericsson Services 401(k) Plan was merged into the Ericsson US 401(k) Plan formerly called the Ericsson Capital Accumulation and Savings Plan. Total assets transferred into the Plan due to the merger were approximately $140,800. Effective July 18, 2016 Great-West Trust Company or now called Empower Trust Company, LLC ("Trustee") was made trustee of the Plan and the Master Trust was dissolved. Empower Retirement, the retirement services business of Great-West Financial, is the recordkeeper of the Plan.

Each pay period participant contributions are remitted to the Plan made to the Trustee for investment. There is currently one stable value fund, three mutual funds, ten commingled funds, twelve common collective trusts and one separately managed account. In addition, there is a self – directed brokerage account ("SDA") to which participants may direct their investments. The SDA allows access to a wide variety of mutual funds, stocks and bonds. Brokerage services are provided through the Trustee. Participants can choose these options for their contributions as well as the Company contributions.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

#### Basis of Accounting
The Plan's financial statements are presented using the accrual method of accounting in conformity with U.S. generally accepted accounting principles ("GAAP").

#### Use of Estimates
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities and changes therein. Actual results could differ from those estimates.

#### Risks, Uncertainties and Concentrations
The Plan provides for various investment options as described in Note 1. The underlying investments held by the investment options may include stocks, bonds, fixed income securities, mutual funds and other investment securities. Such investments are exposed to various risks, such as interest rate, market and credit risk. Due to the level of risk associated with certain investment securities and the

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#### **Table of Contents**
ERICSSON US 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

#### AS OF DECEMBER 31, 2025 AND 2024, AND FOR THE YEAR ENDED DECEMBER 31, 2025

#### (Thousands of dollars)
level of uncertainty related to changes in the value of investment securities, it is at least reasonably possible that changes in the values of investment securities in the near term could materially affect participants' account balances and the amounts reported in the statement of net assets available for benefits.

As of December 31, 2025 and 2024, there was one investment that represented 26% of investments, respectively. See the schedule of assets (held at end of year) for a complete list of investments as of December 31, 2025.

#### Contributions and Contributions Receivables
Contributions are recorded in the period in which payroll deductions are made. Contributions receivable are obligations arising from amounts owed to the Plan from participants or the Employer that have not been included in the Plan's investments at year end. Contributions receivable are recorded at cost, which approximates their fair value. Total contributions receivable were $1,253 and $1,322 at December 31, 2025 and 2024, respectively.

#### Valuation of Investments
The Plan's investments are reported at fair value. At December 31, 2025 and 2024 the Plan held a Stable Value Fund which was reported at contract value. The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (the exit price). See Note 4 for further discussion of fair value and fair value measurements. See Note 8 for further discussion of the investment carried at contract value.

#### Investment Income
Purchases and sales of the investments within the Plan are reflected on a trade-date basis. Dividend income is recorded on the ex-dividend date. Interest income is recorded on the accrual basis.

#### Security Transactions
The Plan presents in the Statement of Changes in Net Assets Available for Benefits the net appreciation or depreciation in the fair value of its investments which consists of the realized gains and losses and the unrealized appreciation (depreciation) on those investments. Realized gains and losses on security transactions are determined on the trade date (the date the order to buy or sell is executed) as the difference between proceeds received and historical cost. Unrealized gains and losses represent the net change in market value of investments held during the year which are presented at fair value, with adjustments for investments sold.

Upon withdrawal from the Plan, participants invested in Company stock may elect to receive cash or Company stock. Whenever a participant receives stock, the difference between the cost of such stock and the market value on the applicable valuation date is reflected as a realized gain or loss of the Plan. Gains or losses are also realized whenever stocks are sold in satisfaction of the participants' election to take cash upon withdrawal.

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#### **Table of Contents**
ERICSSON US 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

#### AS OF DECEMBER 31, 2025 AND 2024, AND FOR THE YEAR ENDED DECEMBER 31, 2025

#### (Thousands of dollars)

#### Vesting and Forfeitures
Company and active participants' capital accumulation contributions, and participants' savings contributions, and the earnings thereon, are fully and immediately vested, with the exception of non-active participants transferred in from other plans, which continue to be subject to the former plans' vesting requirements. Any amounts which became forfeitures since the last Plan year may be made available to reinstate the previously forfeited account balance of former participants, if any, or used to pay any administrative expenses of the Plan, in that order. Forfeitures may also be used during the Plan year to correct the improper exclusion of any otherwise eligible employees. The remaining forfeitures, if any, may be used to offset any owed Company contribution to be made. Accordingly, the forfeiture balance as of December 31, 2025 and 2024 was $1,192 and $853, respectively. During 2025, $304 of forfeitures were used to pay Plan administrative expenses.

#### Expenses of the Plan
Certain expenses of the Plan and its administration, including fees and expenses of the Trustee, are paid by the Company, which are excluded from these financial statements. All taxes, commissions and other charges on purchases, sales and transfers of Company stock and other securities are paid by the Trustee out of the fund or account involved in such purchase or sale. Participants are responsible for their own managed account fees, brokerage fees, and loan fees. A quarterly administrative fee is charged to each participant's account.

#### Administration
The Committee is responsible for the general administration of the Plan and for carrying out its provisions. Members of the Committee serve without compensation from the Plan.

#### Notes Receivable from Participants
Notes receivables from participants may be granted to participants in an amount not to exceed 50% of the participant's contribution account. The maximum loan amount is fifty thousand dollars minus the participant's highest loan balance (if any) during the previous 12 months; the minimum loan amount is one thousand dollars. Loans may be repaid through payroll deductions over a selected period between 12 months and 60 months. An employee is allowed only one loan at a time. If an employee misses payments, he/she will be required to make up the payments and accrued interest immediately. Failure to keep the loan current could result in the loan being classified as a "deemed distribution", which is taxable income to the employee. Interest on the loan is set at the time of issuance, and the rate is the prime rate plus 1%. At December 31, 2025, interest rates range from 4.25% to 9.50%. Notes receivable from participants are reported at their outstanding principal plus any accrued interest.

#### Termination Priorities
The Company reserves the right, by action of the board, to amend, suspend or terminate the Plan. In the event that the Plan is terminated or the Company discontinues its contributions, all amounts allocated to the participants' accounts and all assets held under the Plan will be fully vested and will be held for distribution to the participants.

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#### **Table of Contents**
ERICSSON US 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

#### AS OF DECEMBER 31, 2025 AND 2024, AND FOR THE YEAR ENDED DECEMBER 31, 2025

#### (Thousands of dollars)
The Company currently has no plans to terminate the Plan.

#### Benefit Payments
At December 31, 2025 and 2024, there were no benefit claims which had been processed and approved for payment but not yet paid. At Empower Retirement, benefit payments are determined, paid and taxed to participants based upon the date the check is first processed. For financial statement purposes, benefit payments are recorded when paid.

3. PLAN PARTICIPATION

The Company offers the Plan for eligible U.S. employees to which qualified employees may elect to contribute stated percentages of eligible pay. Participation by eligible employees is voluntary and is defined as any regular salaried or hourly employee who is employed by a participating employer and receives regular compensation in the form of a weekly, biweekly, semi-monthly or monthly salary from an Ericsson U.S. payroll. All eligible employees may immediately participate in the Plan. At December 31, 2025 and 2024, the number of active participants were roughly 4,254 and 4,400, respectively.

Eligible participants may contribute on a pre-tax and/or Roth basis any whole percentage from 1% to 75% of their eligible earnings up to current IRS limits into the Capital Accumulation 401(k) portion of the Plan; participants may also contribute any whole percentage from 1% to 6% of their eligible earnings to the Savings portion on an after-tax basis. The Company contributes 3% of a participant's eligible pay for employees who are not actively participating in the Company's Defined Benefit Plan, whether or not the employee contributes. The Company also matches 100% of the first 3% and an additional 50% on the 4<sup>th</sup>% and 5<sup>th</sup>% contributed. All employee and Employer contributions are 100% vested immediately.

The Plan includes an auto-enrollment provision whereby all newly eligible employees are automatically enrolled in the Plan unless they affirmatively elect not to participate in the Plan. Automatically enrolled participants have their deferral rate set at 5% of eligible compensation and their contributions invested in a designated balanced fund until changed by the participant. Automatic enrollment deferral contributions are increased by 1% in April of each year subsequent to enrollment up to 50%. Participants may also contribute amounts representing distributions from other qualified defined benefit or defined contribution plans (rollover).

Participants may change their percentage payroll deduction elections at anytime during the year using the web-based Empower Retirement system. Participants may change investment percentages between funds at any time during the year. Participants may transfer existing fund balances to other available investment options at any time during the year. There are no restrictions on the transfer of investment balances from LM Ericsson Telephone Co. shares of Common Stock to other investment funds.

Each participant's account is credited with the participant's contributions, Company contributions and Plan earnings. The benefit to which a participant is entitled is the benefit that can be provided from the participant's vested account. Participants may direct the investment of their account balances into various investment options offered by the Plan.

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#### **Table of Contents**
ERICSSON US 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

#### AS OF DECEMBER 31, 2025 AND 2024, AND FOR THE YEAR ENDED DECEMBER 31, 2025

#### (Thousands of dollars)
A participant's entire interest in the Plan is payable upon death, attainment of normal retirement age, becoming disabled, as defined, or termination of service. Participants may, at any time, request certain in-service withdrawals in the form of a normal or hardship withdrawal. Participants may also withdrawal an amount at age 59<sup>1</sup>⁄2 if certain criteria are met. Normal withdrawals may be requested from the Employee Savings account and Company Savings account for money that has been in the Plan for at least 24 full calendar months. Hardship withdrawals must meet certain requirements including approval by the Committee.

4. FAIR VALUE MEASUREMENTS

The accounting standards establish a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

Assets and liabilities measured at fair value are based on one or more of the following three valuation techniques noted in Accounting Standards Codification "ASC" Topic 820; A) Market approach: Prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. B) Cost approach: Amount that would be required to replace the service capacity of an asset (replacement cost). C) Income approach: Techniques to convert future amounts to a single present amount based upon market expectation (including present value techniques, option-pricing and excess earnings models).

The following is a description of the valuation methodologies used for the investments measured at fair value, including the general classification of such instruments pursuant to the valuation hierarchy.

Mutual Funds

Mutual funds represent investments with various registered investment managers. The fair values of these investments are determined by reference to the fund's underlying assets, which are principally marketable equity and fixed income securities. Shares held in mutual funds traded on national securities exchanges are valued at the quoted market price as of December 31, 2025 and 2024 and classified as Level 1 assets.

Self-Directed Brokerage Accounts (SDA)

A majority of the SDA accounts include investments in cash and cash equivalents, common stock, and registered investment companies and are classified as Level 1 investments. Cash and cash equivalent investments include cash and short-term interest-bearing investments with initial maturities of three months or less. Such amounts are recorded at cost, plus accrued interest. Common stock traded in active markets on national securities exchanges are valued at closing prices on the last business day of each period presented. Securities traded in markets that are not considered active are valued based on quoted market prices, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency. Securities that trade infrequently and therefore have little or no price transparency are valued using the Plan's investment manager's best estimates. Mutual funds in registered investment companies are valued as mentioned above.

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#### **Table of Contents**
ERICSSON US 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

#### AS OF DECEMBER 31, 2025 AND 2024, AND FOR THE YEAR ENDED DECEMBER 31, 2025

#### (Thousands of dollars)
Commingled Funds and Common Collective Trusts

Valued using the Net Asset Value ("NAV") provided by the administrator of the fund. The NAV is based on the value of the underlying assets owned by the fund minus applicable costs and liabilities and then divided by the number of shares outstanding. As these assets are measured at NAV, they are therefore excluded from the fair value hierarchy and included in other.

Pooled Separate Accounts

These investments consist of insurance company separate accounts whose investors include only qualified retirement plans and certain governmental retirement plans. The value of each pooled separate account is determined at the close of each business day based on the fair value of the underlying assets, which can consist of a single mutual fund or multiple securities. The value of the account is expressed as the NAV. The unit value is the dollar value of one unit and is determined at the close of each business day by dividing the fair value of the entire account by the total number of units in the account. Contributions to the account increase the number of units. Withdrawals from the account decrease the number of units. The increase or decrease in number of units is determined by dividing the amount of the contribution or withdrawal by the unit value for the day the transaction is made. As these assets are measured at NAV, they are therefore excluded from the fair value hierarchy and included in other.

Stock Funds

LM Ericsson Telephone Company common stock ("Ericsson stock fund"), is a unitized stock fund consisting primarily of the Company's common stock and cash. The Ericsson stock fund and common stocks held in participant-directed brokerage accounts are stated at fair value as quoted on a recognized securities exchange and are valued at the last reported sales price on the last business day of the Plan year and are classified as Level 1 investments.

Separately Managed Accounts

Self-managed fund consisting of a portfolio of assets under the management of a professional investment firm and primarily consist of common stock valued using prices obtained from independent pricing services and are classified as Level 1 investments.

During 2025, the Plan re-evaluated the fair value hierarchy classification of certain investments and concluded that these investments should be classified within Level 1 rather than Level 2, based on the availability of quoted market prices in active markets for identical assets. Accordingly, the 2025 fair value hierarchy tables reflect this change in classification.

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#### **Table of Contents**
ERICSSON US 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

#### AS OF DECEMBER 31, 2025 AND 2024, AND FOR THE YEAR ENDED DECEMBER 31, 2025

#### (Thousands of dollars)
The following tables provide information about the financial assets carried at fair value on a recurring basis as of December 31, 2025 and 2024.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| December 31, 2025 | Level 1 | Level 2 | Level 3 | Other (a) | Total |
| Mutual funds | $431574 | $— | $— | $— | $431574 |
| Separately managed accounts | 308345 |  |  |  | 308345 |
| Ericsson stock fund | 29767 |  |  |  | 29767 |
| Commingled funds |  |  |  | 1683583 | 1683583 |
| Common collective trusts |  |  |  | 798105 | 798105 |
| Pooled separate accounts |  |  |  | 318456 | 318456 |
| Self-directed brokerage accounts | 180534 |  |  |  | 180534 |
| Total investments at fair value | $950220 | $— | $— | $2800144 | $3750364 |
| December 31, 2024 | Level 1 | Level 2 | Level 3 | Other (a) | Total |
| Mutual funds | $436474 | $— | $— | $— | $436474 |
| Separately managed accounts |  | 296571 |  |  | 296571 |
| Ericsson stock fund | 29474 |  |  |  | 29474 |
| Commingled funds |  |  |  | 1570395 | 1570395 |
| Common collective trusts |  |  |  | 706878 | 706878 |
| Pooled separate accounts |  |  |  | 304100 | 304100 |
| Self-directed brokerage accounts |  | 153165 |  |  | 153165 |
| Total investments at fair value | $465948 | $449736 | $— | $2581373 | $3497057 |

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(a) As these assets are measured at net asset value using the practical expedient they are therefore excluded from the fair value hierarchy and included in other.

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#### **Table of Contents**
ERICSSON US 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

#### AS OF DECEMBER 31, 2025 AND 2024, AND FOR THE YEAR ENDED DECEMBER 31, 2025

#### (Thousands of dollars)
5. NET ASSET VALUE PER SHARE

The following table for December 31, 2025 and 2024, sets forth a summary of the Plan's investments with a reported NAV using the practical expedient.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Fair Value Estimated Using NAV per Share | Fair Value Estimated Using NAV per Share | Fair Value Estimated Using NAV per Share | Fair Value Estimated Using NAV per Share | Fair Value Estimated Using NAV per Share | Fair Value Estimated Using NAV per Share |
| Investment | December 31<br>2025 Fair Value<sup>(a)</sup> | December 31<br>2024 Fair Value<sup>(a)</sup> | Unfunded<br>Commitment | Redemption<br>Frequency | Other<br>Redemption<br>Restrictions | Redemption Notice Period |
| Asset allocation fund<sup>(b)</sup> | $798105 | $706878 | $— | Daily |  | Daily |
| Intermediate-Term Bond <sup>(c)</sup> | 89345 | 81948 |  | Daily |  | Daily |
| Multiple Investment Trust<sup>(d)</sup> | 215872 | 208681 |  | Daily |  | Daily |
| Mid-Cap Value Equity Trust <sup>(e)</sup> | 1153058 | 1103870 |  | Daily |  | Daily |
| International Large Blend Trust <sup>(f)</sup> | 380712 | 329063 |  | Daily |  | Daily |
| Small-Cap Value Equity Trust <sup>(g)</sup> | 25987 | 30919 |  | Daily |  | Daily |
| Large-Cap Value Equity Trust <sup>(h)</sup> | 137065 | 120014 |  | Daily |  | Daily |

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<sup>(a)</sup> The fair values of the investments have been estimated using the NAV of the investment.

<sup>(b)</sup> The asset allocation fund uses a strategy designed for investors expecting to retire around the year indicated in each fund's name, with the allocation changing on an annual basis, becoming more conservative as the Fund nears the target retirement date. The funds invest in a combination of equity, fixed income and short-term JPMorgan Chase Bank, N.A Commingled Pension Trust Funds and/or funds maintained by unaffiliated banks and trust companies, which includes vehicles with lower levels of active risk. 

<sup>(c)</sup> Intermediate-term bond funds aim to generate excess return from top-down sector allocation and bottom-up subsector/security selection. Duration and yield curve are tactically managed.

<sup>(d)</sup> Multiple investment trust is a combination of funds including large cap growth equity trust, mid cap value equity trust, small cap value equity trust, value yield equity trust, global growth equity trust and real estate securities trust.

<sup>(e)</sup> Mid-cap value equity trust invests its assets in a majority of equity securities of medium-sized companies.

<sup>(f)</sup> International Large Blend Trust measures the investment return of stocks issued by companies located in developed and emerging markets, excluding the United States.

<sup>(g)</sup> Small-cap value equity trust invests its assets in a majority of equity securities of small-sized companies.

<sup>(h)</sup> Large-cap value equity trust invests its assets in a majority of equity securities of large, well-established companies.

6. PARTY-IN-INTEREST AND RELATED PARTY TRANSACTIONS

Certain Plan investments are Common Stock shares of LM Ericsson Telephone Company, a related party of Ericsson Inc. Ericsson Inc. sponsors the plan; therefore, these investments qualify as related party transactions. The Plan recorded purchases of $8,014 and sales of $13,784 of the Company's stock during the year ended December 31, 2025.

Plan assets include investments in funds managed by the Trustee and affiliates of the Trustee. These transactions are covered by an exemption from the prohibited transaction provisions of ERISA and

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#### **Table of Contents**
ERICSSON US 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

#### AS OF DECEMBER 31, 2025 AND 2024, AND FOR THE YEAR ENDED DECEMBER 31, 2025

#### (Thousands of dollars)
the IRC. Notes receivable are secured by the vested balance of participant accounts, and, as such, these transactions qualify as party-in-interest transactions. Fees paid by the Plan for the investment management services are included in net appreciation (depreciation) in fair value of investments.

7. TAX STATUS OF THE PLAN

Management believes that the Plan is qualified under section 401(a) of the Internal Revenue Code ("IRC") and therefore, the trust is exempt from taxation under section 501(a). The Internal Revenue Service granted a favorable letter of determination to the Plan covering its most recent amendments on April 6, 2017. Generally, contributions to a qualified plan are deductible by the Company when made, earnings of the trust are tax exempt and participants are not taxed on their benefits until withdrawn from the Plan.

Although the Plan has been amended since receiving the determination letter, management believes that the Plan is designed, and is currently being operated, in compliance with the applicable requirements of the IRC and, therefore, believe that the Plan is qualified, and the related trust is tax-exempt.

GAAP requires plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the organization has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. The Plan Administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2025, there are no uncertain positions taken or expected to be taken that would require recognition of the liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

8. FINANCIAL ASSETS CARRIED AT CONTRACT VALUE

The following table provides information as of December 31, 2025 and 2024 about the financial assets carried at contract value:

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| | | |
|:---|:---|:---|
| As of December 31, | 2025 | 2024 |
| Financial assets at contract value: |  |  |
| Putnam Stable Value Fund | $263644 | $263101 |

---

The Plan holds investments in synthetic guaranteed investment contracts ("synthetic GICs") as part of the stable value fund. The investments in synthetic GICs are presented at fair value on the table of the investments held in the Plan. The fair value of the synthetic GICs equals the total of the fair value of the underlying assets plus the total wrap rebid value, which is calculated by discounting the annual rebid fee, due to rebid, over the duration of the contract assets.

In determining the net assets available for benefits, the synthetic GICs are recorded at their contract values, which are equal to principal balance plus accrued interest. As provided in ASC 962, an investment contract is generally valued at contract value, rather than fair value, to the extent it is fully benefit-responsive.

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#### **Table of Contents**
ERICSSON US 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

#### AS OF DECEMBER 31, 2025 AND 2024, AND FOR THE YEAR ENDED DECEMBER 31, 2025

#### (Thousands of dollars)
The Stable Value Funds are credited with earnings on the underlying investments and charged for participant withdrawals and administrative expenses. The synthetic GICs issuers are contractually obligated to repay the principal and a specified interest rate that is guaranteed to the Plan.

The GICs are included in the financial statements at contract value as reported to the Plan by the Trustee, the investment manager. Contract value represents contributions made under the contract, plus earnings, less participant withdrawals and administrative expenses. Participants may ordinarily direct the withdrawal or transfer of all or a portion of their investment at contract value. There are currently no reserves against contract values for credit risk of the contract issuers or otherwise.

9. SUBSEQUENT EVENTS

Effective May 1, 2026, the Ericsson stock fund was frozen to new contributions. The Plan has evaluated the effects of events that have occurred subsequent to December 31, 2025, through the issuance of these financial statements.

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#### **Table of Contents**

#### ERICSSON US 401(k) PLAN

#### SCHEDULE H, LINE 4a – SCHEDULE OF DELINQUENT PARTICIPANT CONTRIBUTIONS

#### AS OF DECEMBER 31, 2025

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| | | | | |
|:---|:---|:---|:---|:---|
| EIN: 06-1119960<br> Plan Number: 006 | EIN: 06-1119960<br> Plan Number: 006 | EIN: 06-1119960<br> Plan Number: 006 | EIN: 06-1119960<br> Plan Number: 006 | EIN: 06-1119960<br> Plan Number: 006 |
|  | Totals That Constitute Non-Exempt Prohibited Transactions | Totals That Constitute Non-Exempt Prohibited Transactions | Totals That Constitute Non-Exempt Prohibited Transactions |  |
|  | Contributions Not<br>Corrected | Contributions<br>Corrected Outside<br>VFCP\* | Contributions<br>Pending<br>Correction in<br>VFCP\* | Total Fully<br>Corrected Under<br>VFCP\* and<br>PTE\*\*<br>2002-51 |
| Check here if late participant loan repayments are included: ☐ |  |  |  |  |
|  | $— | $— | $— | $2422.50 |

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\* Voluntary Fiduciary Correction Program (DOL)

\*\* Prohibited Transaction Exemption (DOL)

For the year ended December 31, 2024, the Company did not remit certain participant contributions to the Plan on a timely basis pursuant to Department of Labor Regulations. Untimely remittances identified on the Schedule H, Line 4(a) -Schedule of Delinquent Participant Contributions totaled $2,422.50.

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#### **Table of Contents**

#### ERICSSON US 401(k) Plan

#### SCHEDULE H, LINE 4i – SCHEDULE OF A SS ETS (HELD AT END OF YEAR) DECEMBER 31, 2025

#### (Thousands of dollars)

---

| | | | | |
|:---|:---|:---|:---|:---|
| EIN: 06-1119960<br>Plan Number: 006 | EIN: 06-1119960<br>Plan Number: 006 | EIN: 06-1119960<br>Plan Number: 006 | EIN: 06-1119960<br>Plan Number: 006 | EIN: 06-1119960<br>Plan Number: 006 |
| (a) | (b)<br>Identity of Issue, Borrower,<br>Lessor or Similar Party | (c)<br>Description of Investment, Including Maturity Date, Rate<br>of Interest, Collateral, Par or Maturity Value | (d)<br>Cost | (e)<br>Current Value |
|  | Stable Value Fund: |  |  |  |
| \* | Putnam Fiduciary Trust | PUTNAM STABLE VALUE FUND | \* | $263644 |
| \*\*\* | Company |  |  |  |
|  | Common Collective Trusts: |  |  |  |
|  | Vanguard Funds | VANGUARD TARGET RETIRE TRUST PLUS INCOME | \* | 29754 |
|  | Vanguard Funds | VANGUARD TARGET RETIRE TRUST PLUS 2020 | \* | 41176 |
|  | Vanguard Funds | VANGUARD TARGET RETIRE TRUST PLUS 2025 | \* | 95808 |
|  | Vanguard Funds | VANGUARD TARGET RETIRE TRUST PLUS 2030 | \* | 145525 |
|  | Vanguard Funds | VANGUARD TARGET RETIRE TRUST PLUS 2035 | \* | 146877 |
|  | Vanguard Funds | VANGUARD TARGET RETIRE TRUST PLUS 2040 | \* | 113497 |
|  | Vanguard Funds | VANGUARD TARGET RETIRE TRUST PLUS 2045 | \* | 92620 |
|  | Vanguard Funds | VANGUARD TARGET RETIRE TRUST PLUS 2050 | \* | 75401 |
|  | Vanguard Funds | VANGUARD TARGET RETIRE TRUST PLUS 2055 | \* | 31428 |
|  | Vanguard Funds | VANGUARD TARGET RETIRE TRUST PLUS 2060 | \* | 17268 |
|  | Vanguard Funds | VANGUARD TARGET RETIRE TRUST PLUS 2065 | \* | 7263 |
|  | Vanguard Funds | VANGUARD TARGET RETIRE TRUST PLUS 2070 | \* | 1488 |
|  |  |  |  | 798105 |
|  | Mutual Funds: |  |  |  |
|  | T. Rowe Price | T. ROWE PRICE QM US SMALL-CAP GR EQ I | \* | 34919 |
|  | Vanguard Funds | VANGUARD SMALL-CAP INDEX-INST PLUS | \* | 129395 |
|  | Vanguard Funds | VANGUARD MID-CAP INDEX-INST PLUS | \* | 267260 |
|  |  |  |  | 431574 |
|  | Commingled funds and pooled separate accounts: |  |  |  |
|  | Reliance Trust Company | DRIEHAUS EMERGING MARKETS GROWTH CL C | \* | 23394 |
|  | T. Rowe Price Funds | T ROWE PRICE MID-CAP VALUE EQUITY TRUST-D | \* | 51670 |
|  | Vanguard Funds | VANGUARD INST TOTAL INTL STK MKT IDX TST | \* | 230130 |
|  | Vanguard Funds | VANGUARD INSTITUTIONAL 500 INDEX TRUST | \* | 1025452 |
|  | Vanguard Funds | VANGUARD INSTL TOTAL BOND MRKT IDX TRUST | \* | 215872 |
| \* | Empower Annuity Insurance Company of America | CAPITAL GROUP EUROPACIFIC GROWTH FUND SA | \* | 127187 |
| \* | Empower Annuity Insurance Company of America | EAGLE MID CAP GROWTH FUND (IS PLATFORM) | \* | 75936 |
| \* | Empower Annuity Insurance Company of America | SMALL CAP VALUE/VICTORY | \* | 25987 |
| \* | Empower Annuity Insurance Company of America | CORE PLUS BOND/PGIM FUND | \* | 89345 |
|  | Putnam | PUTNAM LARGE CAP VALUE TRUST IA | \* | 137066 |
|  |  |  |  | 2002039 |
|  | Separately managed<br>accounts: |  |  |  |
|  | Jennison | ADVANCED MICRO DEVICES INC COMMON STOCK | \*\* | 4357 |
|  | Jennison | ALPHABET INC COMMON STOCK CL.A | \*\* | 11763 |
|  | Jennison | ALPHABET INC COMMON STOCK CL.C | \* | 11727 |
|  | Jennison | AMAZON.COM INC COMMON STOCK | \* | 22833 |
|  | Jennison | AMPHENOL CORP COMMON STOCK CL.A | \* | 3395 |
|  | Jennison | APPLE INC COMMON STOCK | \* | 23333 |
|  | Jennison | APPLOVIN CORP COMMON STOCK | \* | 4656 |

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#### **Table of Contents**

#### ERICSSON US 401(k) Plan

#### SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR) DECEMBER 31, 2025

#### (Thousands of dollars)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>EIN: 06-1119960<br>Plan Number: 006 | <br>EIN: 06-1119960<br>Plan Number: 006 | <br>EIN: 06-1119960<br>Plan Number: 006 | <br>EIN: 06-1119960<br>Plan Number: 006 | <br>EIN: 06-1119960<br>Plan Number: 006 |
| (a) | (b)<br>Identity of Issue, Borrower,<br>Lessor or Similar Party | (c)<br>Description of Investment, Including Maturity Date, Rate<br>of Interest, Collateral, Par or Maturity Value | (d)<br>Cost | (e)<br>Current Value |
|  | Jennison | AXON ENTERPRISE INC COMMON STOCK | \* | 1581 |
|  | Jennison | BOEING CO COMMON STOCK | \* | 5419 |
|  | Jennison | BOSTON SCIENTIFIC CORP COMMON STOCK | \* | 1266 |
|  | Jennison | BROADCOM INC COMMON STOCK | \* | 16773 |
|  | Jennison | CADENCE DESIGN SYSTEMS INC COMMON STOCK | \* | 5454 |
|  | Jennison | CONSTELLATION ENERGY CORP COMMON STOCK | \* | 5537 |
|  | Jennison | COSTCO WHOLESALE CORP COMMON STOCK | \* | 4282 |
|  | Jennison | CROWDSTRIKE HOLDINGS INC COMMON STOCK CL.A | \* | 4682 |
|  | Jennison | DATADOG INC COMMON STOCK CL.A | \* | 2417 |
|  | Jennison | DISNEY WALT CO THE COMMON STOCK | \* | 5336 |
|  | Jennison | EDWARDS LIFESCIENCES CORP COMMON STOCK | \* | 3118 |
|  | Jennison | ELI LILLY & CO COMMON STOCK | \* | 12401 |
|  | Jennison | GENERAL ELECTRIC CO COMMON STOCK | \* | 5744 |
|  | Jennison | HILTON WORLDWIDE HLDGS INC COMMON | \* | 1692 |
|  | Jennison | INDITEX COMMON STOCK | \* | 1861 |
|  | Jennison | INTUITIVE SURGICAL INC COMMON STOCK | \* | 3887 |
|  | Jennison | KKR & CO INC COMMON STOCK CL.A | \* | 935 |
|  | Jennison | MASTERCARD INC COMMON STOCK CL.A | \* | 8056 |
|  | Jennison | MERCADOLIBRE INC COMMON STOCK | \* | 1541 |
|  | Jennison | MERCK & CO INC COMMON STOCK | \* | 1549 |
|  | Jennison | META PLATFORMS INC COMMON STOCK | \* | 12838 |
|  | Jennison | MICROSOFT CORP COMMON STOCK | \* | 20857 |
|  | Jennison | NETFLIX INC COMMON STOCK | \* | 7091 |
|  | Jennison | NVIDIA CORP COMMON STOCK | \* | 33941 |
|  | Jennison | O REILLY AUTOMOTIVE INC COMMON STOCK | \* | 2624 |
|  | Jennison | ORACLE CORP COMMON STOCK | \* | 3511 |
|  | Jennison | SERVICENOW INC COMMON STOCK | \* | 3147 |
|  | Jennison | SHOPIFY INC COMMON STOCK CL.A | \* | 4366 |
|  | Jennison | SNOWFLAKE INC COMMON STOCK | \* | 5129 |
|  | Jennison | SPOTIFY TECHNOLOGY SA COMMON STOCK | \* | 4013 |
|  | Jennison | TAIWAN SEMICONDUCTOR COMMON STOCK - ADR | \* | 4943 |
|  | Jennison | TESLA INC COMMON STOCK | \* | 11887 |
|  | Jennison | TEXAS INSTRUMENTS INC COMMON STOCK | \* | 1432 |
|  | Jennison | TOAST INC COMMON STOCK | \* | 1130 |
|  | Jennison | UBER TECHNOLOGIES INC COMMON STOCK | \* | 1567 |
|  | Jennison | VERTEX PHARMACEUTICALS INC COMMON STOCK | \* | 2713 |
|  | Jennison | VISA INC COMMON STOCK CL.A | \* | 5636 |
|  | Jennison | WALMART INC COMMON STOCK | \* | 5261 |
|  | Jennison | FEDERATED GOVERNMENT OBLIGATIONS IS #5 | \* | 664 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;308345 |
| \* | Self-Directed Brokerage Account | Various Investments, Including Registered Investment Companies, Common Stocks, Money Market Funds and Cash | \* | 180534 |
| \* | Ericsson | Ericsson Stock Fund | \* | 29767 |

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#### **Table of Contents**

#### ERICSSON US 401(k) Plan

#### SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR) DECEMBER 31, 2025

#### (Thousands of dollars)

---

| | | | | |
|:---|:---|:---|:---|:---|
| EIN: 06-1119960<br>Plan Number: 006 | EIN: 06-1119960<br>Plan Number: 006 | EIN: 06-1119960<br>Plan Number: 006 | EIN: 06-1119960<br>Plan Number: 006 | EIN: 06-1119960<br>Plan Number: 006 |
| (a) | (b)<br>Identity of Issue, Borrower,<br>Lessor or Similar Party | (c)<br>Description of Investment, Including Maturity Date, Rate<br>of Interest, Collateral, Par or Maturity Value | (d)<br>Cost | (e)<br>Current Value |
|  | Total Investments |  |  | 4014008 |
| \* | Participant Loans | Interest rates of 4.25% to 9.50% with various maturity dates | \* | 10440 |
|  | Total |  |  | $4024448 |

---

\* Party In Interest

\*\* Not Required For Participant Directed Accounts

\*\*\* All investments were stated at fair value as of December 31, 2025 with the exception of the Stable Value Fund, which is stated at contract value.

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#### EXHIBIT INDEX

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| |
|:---|
| Exhibit No. |
| 99.1 [Consent of Independent Accountants – Filed herewith](d154613dex991.htm) |

---

------

SIGNATURES

The Plan. Pursuant to the requirements of the Securities and Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

Ericsson US 401(k) Plan

Date: 06/26/2026

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| |
|:---|
| ![LOGO](g154613g35g87.jpg) <br>|
| Mert Canberk |
| Head of Total Rewards, Market Area Americas |

---

## Exhibit 99.1

**Exhibit 99.1** 

---

| | | |
|:---|:---|:---|
| ![LOGO](g154613dsp0003.jpg) | Tel: 214-969-7007<br> Fax: 214-953-0722<br> **www.bdo.com** | 600 North Pearl, Suite 1700<br> Dallas, TX 75201 |

---

<u>Consent of Independent Registered Public Accounting Firm</u> 

We hereby consent to the incorporation by reference in the Registration Statement on Form S-8 No. 333-161683 of Ericsson Inc. of our report dated June 26, 2026, relating to the financial statements and supplemental schedules of Ericsson US 401(k) Plan which appear in this Form 11-K for the year ended December 31, 2025.

/s/ BDO USA, P.C.

Dallas, Texas

June 26, 2026

BDO USA, P.C., a Virginia professional corporation, is the U.S. member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms.

BDO is the brand name for the BDO network and for each of the BDO Member Firms.