Condensed interim consolidated and combined financial statements

Note: Numbers are unaudited, and for comparison Q4 2025 is displayed since there was no material activity before Q4 2025.

NOK million	Note	Q3 2026	YTD 2026	Q4 2025
Operating revenue	4	1.1	3.0	0.9
Direct costs of service		-0.6	-1.5	-0.7
Operating expenses	5, 6, 7	-23.4	-44.1	-4.3
EBITDA		-22.8	-42.6	-4.1
Depreciation and amortisation		-0.2	-0.8	-0.2
Operating profit/(loss)		-23.1	-43.3	-4.3
Financial income/(expense)		7.4	7.0	-0.1
Net financial items		7.4	7.0	-0.1
Profit/(loss) before tax		-15.6	-36.3	-4.4
Tax income/(expense)		-	-	0.2
Net profit/(loss)		-15.6	-36.3	-4.2
Net profit/(loss) attributable to:
Equity holders of the parent		-15.9	-35.4	-4.1
Non-controlling interests		0.3	-0.9	-0.1

NOK million	Q3 2026	YTD 2026	Q4 2025
Net profit/(loss)	-15.6	-36.3	-4.2
Other comprehensive income
Items which may be reclassified to profit/(loss)
Foreign currency translation	-	-	-
Total comprehensive income	-15.6	-36.3	-4.2
Total comprehensive income attributable to:
Equity holders of the parent	-15.9	-35.4	-4.1
Non-controlling interest	0.3	-0.9	-0.1

Earnings per share

	Q3 2026	YTD 2026
Earnings per share (NOK):
- Basic	-0.16	-0.50
- Diluted	-0.16	-0.50
Weighted avg. no. of shares outstanding	99,029,395	70,969,020
Weighted diluted avg. no. of shares outstanding	99,029,395	70,969,020

NOK million	Note	30.09.2026	31.12.2025
ASSETS
Goodwill		0.2	0.2
Intangible assets		9.6	-
Fixed assets		5.7	4.7
Right-of-use asset		2.8	3.2
Associated companies and joint ventures		3.3	-
Total non-current assets		21.5	8.1
Trade and other receivables		15.7	2.0
Cash and cash equivalents	3	568.6	5.6
Total current assets		584.3	7.6
TOTAL ASSETS		605.8	15.7
EQUITY AND LIABILITIES
Contributed equity and retained earnings		581.4	2.7
Total equity attributable to owners of the parent		581.4	2.7
Non-controlling interest		0.7	1.5
TOTAL EQUITY		582.1	4.2
Deferred taxes		0.2	-
Loan from owners	6	4.9	-
Lease liability		2.2	2.6
Bank loans		2.7	3.4
Total non-current liabilities		10.0	6.0
Lease liability		0.6	0.6
Loan from owners	6	9.2	0,0
Trade and other payables		2.6	4.5
Other current liabilities		1.3	0.4
Total current liabilities		13.6	5.5
TOTAL LIABILITIES		23.7	11.5
TOTAL EQUITY AND LIABILITIES		605.8	15.7

NOK million	Note	Share capital	Share premium	Other equity	Total	Non-controlling interest	Total equity
Equity as of 1 January 2026		-	-	2.7	2.7	1.5	4.2
Total comprehensive income		-	-	-35.4	-35.4	-0.9	-36.3
Capital increase IPO	3	3.0	610.9	-	613.9	-	613.9
Sale shares in share incentive programme		-	-	4.4	4.4	-	4.4
Cash contribution		1.0	-	-	1.0	-	1.0
Contribution in kind		2.0	17.7	-9.8	9.8	-	9.8
Share issue		0.0	19.8	-	19.8	-	19.8
Movements between controlling and non-controlling interests		-	-	-2.6	-2.6	2.6	-
Transaction with non-controlling interest		-	-	-36.4	-36.4	-2.6	-38.9
Cost share incentive programme	7	-	-	4.1	4.1	-	4.1
Equity as of 30 September 2026		6.0	648.4	-73.0	581.4	0.7	582.1
Equity as of 4 October 2025		-	-	-	-	-	-
Acquisition Storespeed		-	-	4.7	4.7	1.6	6.3
Capital contribution from parent		-	-	2.2	2.2	-	2.2
Total comprehensive income for the period		-	-	-4.1	-4.1	-0.1	-4.2
Equity as of 31 December 2025		-	-	2.7	2.7	1.5	4.2

NOK million	Note	Q3 2026	YTD 2026
Cash flows from operating activities
Profit/(loss) before tax		-15.6	-36.3
Depreciation		0.2	0.8
Share incentive programme	7	3.3	4.1
Changes in working capital:
Trade and other receivables		-1.6	2.8
Trade and other payables		-5.6	3.4
Other current liabilities		0.6	4.2
Other changes in working capital		0.6	0.6
Net cash flow from operating activities		-18.0	-20.4
Cash flows from investing activities
Acquisition of intangible assets		0,0	-5.7
Investments in fixed assets		-1.3	-1.3
Investments in projects and joint ventures		-25.3	-25.3
Loans to projects		-10.0	-10.0
Net cash flow from investing activities		-36.6	-42.3
Cash flows from financing activities
Loan from parent		0.0	0.3
Cash from companies transferred via contribution in kind		-	7.3
Net proceeds from IPO	3	-1.6	613.9
Sale of own shares as part of the employee incentive programme		-	4.4
Capital increase from parent		-	1.0
Repayment bank loans		-0.1	-0.7
Lease payment		-0.2	-0.4
Net cash flow from financing activities		-1.9	625.8
Net change in cash and cash equivalents		-56.5	563.0
Cash and cash equivalents at start of period		625.2	5.6
Cash and cash equivalents at end of period		568.6	568.6