Fjord Defence Group ASA

Earnings Release • May 8, 2025

Aquila Holdings ASA announces Q1 2025

Aquila Holdings ASA announces Q1 2025

Oslo, 8 May 2025

EVENTS DURING THE QUARTER

• Fair value of multi-client library USD 20.5 million

• Fair value of investment portfolio USD 3.6 million

• Positive cash flow of USD 2.0 million, mainly from financial asset and sale of shares in Arbaflame

• Available liquid funds of USD 6.6 million*

• Cash earnings (loss) for the quarter (USD 0.3) million**

• Net asset value NOK 1.22 per share

* Bank deposits, net trade receivable and marketable securities

** Revenue, cost of sales and SG&A

The first quarter 2025 report and presentation will be available at Aquila Holdings ASA (www.aquilaholdings.no) and Oslo Stock Exchange (www.newsweb.com).

For further information, please contact:

Kristian Zahl, Interim CEO

kristian.zahl@aquilaholdings.no

+47 996 10 117

About Aquila Holdings

Aquila Holdings ASA ("AQUIL") is a Norwegian seismic multi-client and investment company listed on Euronext Expand. Aquila Holdings specializes in 3D ocean bottom node seismic multi-client data for near-field exploration. The company holds two key seismic multi-client assets, one in Norway and one in Egypt. Aquila Holdings also has an investment arm, with focus on investments in listed companies as well as companies expected to be listed. More information on www.aquilaholdings.no

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.