Aqua Bio Technology (ABTEC) investor relations material

Executive summary

• Underwent major restructuring, divestments, and refinancing preparations to secure financial stability and future growth, including the sale of several subsidiaries and a focus on core ingredient business for the cosmetics industry.

• Jetcarrier AS is now treated as a financial investment, not consolidated, following a correction of previous accounting treatment.

• Significant reduction in workforce and administrative costs, with the head office relocated to reduce expenses.

Financial highlights

• 2025 sales revenue was NOK 7.5 million, down from NOK 10.9 million in 2024, mainly due to subsidiary sales.

• Other income in 2025 included NOK 5.0 million from a settlement agreement.

• EBITDA improved to NOK -10.8 million from NOK -81.7 million in 2024, reflecting cost reductions and absence of large write-downs and losses from prior year.

• Operating loss was NOK -11.7 million (2024: NOK -85.7 million).

• Net result from continuing operations was NOK -24.6 million (2024: NOK -120.7 million).

• Net result from discontinued operations was NOK 122.3 million (2024: NOK -242.6 million), driven by gains on subsidiary sales and reversal of previously written-down assets.

• Total assets at year-end were NOK 130.0 million (2024: NOK 175.4 million).

• Equity at year-end was NOK -0.5 million (2024: NOK -107.8 million).

• Total liabilities reduced to NOK 130.5 million (2024: NOK 283.2 million).

• Cash and equivalents at year-end were NOK 2.7 million (2024: NOK 6.0 million).

Outlook and guidance

• Focus on ingredient business with three patent families and 25 patents, aiming for renewed growth from 2026.

• Further sales of ingredients expected in 2026, with ongoing cost reductions to improve liquidity.

• Recent refinancing and capital increases in early 2026 have strengthened equity and reduced debt burden.

• No material uncertainty identified regarding continued operations for at least 12 months after balance sheet date.