Second quarter and half-year 2026

EBITDA was a negative NOK 19.7 million for the first half of the year and negative NOK 14.0 million for the quarter. As a data center project developer, the Group incurs development and operating costs on an ongoing basis, while earnings are recognised upon the achievement of specific project milestones or project divestments. Consequently, reported results reflect the timing of project progression and milestone recognition.

The Group reported a net loss of negative NOK 20.7 million for the first half of the year, primarily reflecting the negative EBITDA result from ongoing development and operating activities.

As of 30 June 2026, the Group’s cash and cash equivalents were NOK 625.2 million, following the completion of the IPO. Cash flow from operating activities was negative NOK 2.4 million for the first half of the year, reflecting ongoing project development activities and corporate operating expenses.
Cash flow from investing activities during the period was negative NOK 5.7 million, reflecting investments into a project in Finland.
Cash flow from financing activities amounted to NOK 627.7 million, primarily reflecting proceeds from the IPO.

Total assets amounted to NOK 643.7 million as of 30 June 2026, primarily comprising investments in project companies and cash and cash equivalents. Equity amounted to NOK 615.3 million following completion of the IPO, representing an equity ratio of 96% and providing the Group with a strong financial position to support ongoing project development activities.