ABL Group

Investor Presentation • Sep 11, 2025

Pareto Energy Conference

11 September 2025

abl-group.com

Disclaimer

• This Presentation has been produced by ABL Group ASA (the "Company" or "ABL Group") solely for use at the presentation to investors and other stake holders and may not be reproduced or redistributed, in whole or in part, to any other person. This presentation is strictly confidential, has not been reviewed or registered with any public authority or stock exchange, and may not be reproduced or redistributed, in whole or in part, to any other person. To the best of the knowledge of the Company, the information contained in this Presentation is in all material respect in accordance with the facts as of the date hereof, and contains no material omissions likely to affect its importance. However, no representation or warranty (express or implied) is made as to, and no reliance should be placed on, any information, including projections, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and, accordingly, neither the Company nor any of its subsidiary companies or any such person's officers or employees accepts any liability whatsoever arising directly or indirectly from the use of this Presentation. This Presentation contains information obtained from third parties. Such information has been accurately reproduced and, as far as the Company is aware and able to ascertain from the information published by that third party, no facts have been omitted that would render the reproduced information to be inaccurate or misleading.
• This Presentation contains certain forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which it operates. Forward-looking statements concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words "believes", expects", "predicts", "intends", "projects", "plans", "estimates", "aims", "foresees", "anticipates", "targets", and similar expressions. The forward-looking statements contained in this Presentation, including assumptions, opinions and views of the Company or cited from third party sources are solely opinions and forecasts which are subject to risks, uncertainties and other factors that may cause actual events to differ materially from any anticipated development. None of the Company or any of its parent or subsidiary undertakings or any such person's officers or employees provides any assurance that the assumptions underlying such forward-looking statements are free from errors nor does any of them accept any responsibility for the future accuracy of the opinions expressed in this Presentation or the actual occurrence of the forecasted developments. The Company assumes no obligation, except as required by law, to update any forward-looking statements or to conform these forward-looking statements to our actual results.
• AN INVESTMENT IN THE COMPANY INVOLVES RISK, AND SEVERAL FACTORS COULD CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS THAT MAY BE EXPRESSED OR IMPLIED BY STATEMENTS AND INFORMATION IN THIS PRESENTATION, INCLUDING, AMONG OTHERS, RISKS OR UNCERTAINTIES ASSOCIATED WITH THE COMPANY'S BUSINESS, SEGMENTS, DEVELOPMENT, GROWTH MANAGEMENT, FINANCING, MARKET ACCEPTANCE AND RELATIONS WITH CUSTOMERS, AND, MORE GENERALLY, GENERAL ECONOMIC AND BUSINESS CONDITIONS, CHANGES IN DOMESTIC AND FOREIGN LAWS AND REGULATIONS, TAXES, CHANGES IN COMPETITION AND PRICING ENVIRONMENTS, FLUCTUATIONS IN CURRENCY EXCHANGE RATES AND INTEREST RATES AND OTHER FACTORS.
• SHOULD ONE OR MORE OF THESE RISKS OR UNCERTAINTIES MATERIALISE, OR SHOULD UNDERLYING ASSUMPTIONS PROVE INCORRECT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THIS PRESENTATION. THE COMPANY DOES NOT INTEND, AND DOES NOT ASSUME ANY OBLIGATION, TO UPDATE OR CORRECT THE INFORMATION INCLUDED IN THIS PRESENTATION.
• By attending or receiving this Presentation you acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the Company's business. This Presentation does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make such an offer or solicitation in such jurisdiction.

ABL at a glance

Revenue and Group adjusted EBIT, USDm 55 77 ^{151 168} 251 310 374 1.3 4.8 9.6 15.3 18.8 12.5 13.8 2019 2020 2021 2022 2023 2024 LTM Pro-forma Group revenues Group Adjusted EBIT

LTM revenue by segment LTM adj. segment EBIT² LTM revenue by market

3

77 Offices

2,091 Employees¹

¹Includes freelancers on FTE basis. Calculated as average during Q2 2025 ² Segment EBIT split before group cost

Revenue base increased 10x since 2018

Key acquisitions

• 2014: OWC
• 2019: Braemar Technical Services (BTS), forming AqualisBraemar
• 2020: LOC Group, forming ABL Group
• 2021: East Point Geo, OSD-IMT
• 2022: Add Energy
• 2023: AGR, Delta Wind Partners
• 2024: Ross Offshore, Hidromod
• 2025: Proper Marine, Techconsult

In 2024, ABL Group…

...worked on

500+ wind, solar and battery

projects with a potential capacity of

350+ GW

…worked on

17 CCS projects

6

In 2024, ABL Group…

2,500+ ...received maritime instructions from

1,100+ unique clients

1,500+

of these instructions were casualty related

In 2024, ABL Group…

...carried out

1,500+ rig moves

900+ MWS projects

1,500+ vessel surveys/audits

100+

well & reservoir projects

The ABL Group family

ABL Group ASA – a global brand family combining the deepest pool of expertise across energy, marine, engineering and digital solutions to drive safety and sustainability in energy and oceans throughout the life-cycle of a project of asset.

The Energy & Marine Consultants.

Global, independent energy, marine and engineering consultant working to derisk and drive sustainability across projects and assets in renewables, maritime and oil & gas.

The Energy & Software Consultants.

Multi-disciplinary engineering consultancy and software provider specialising in wells and reservoirs.

The Renewable Energy Consultants.

Dedicated engineering, technical advisory and consultant for the commercial development of offshore and onshore renewable energy.

The Engineering Consultants.

Independent engineering, design and analysis consultants working across marine markets: renewables, oil & gas, maritime, small craft and defence, and infrastructure.

Key services:

• MWS & other asset surveys
• Marine operations support
• Marine casualty support

Key services:

• Wells & reservoir consulting
• Resource solutions
• Software

Key services:

• Renewables consulting
• Owner's engineering
• Technical due diligence

Key services:

• Marine ops engineering
• Vessel & facility design
• Analysis and simulations

Segment overview pro-forma comparison

• MWS & other asset surveys
• Marine operations support
• Marine casualty support

• Wells & reservoir consulting
• Resource solutions
• Marine Operations

• Renewables consulting
• Owner's engineering
• Technical due diligence

• Marine ops engineering
• Vessel & facility design
• Analysis and simulations

Milestone projects during the quarter

Semi-annual dividend of NOK 0.45 per share paid in June

• NOK 0.45 per share dividend paid in June, corresponding to USD 5.8 million
  • ABL Group has implemented a semi-annual dividend schedule
  • The Board expects to resolve and declare an additional dividend of NOK 0.45 per share during the second half of 2025
  • The distribution will for tax purposes be considered a repayment of paid-in capital
• Returning capital to shareholders remains a strategic priority for ABL Group

Summary and outlook

• Revenue base increased 10x since 2018 through transformative acquisitions and organic growth, forming a leading global energy and marine consultancy
• Increased focus on operational excellence and efficiency
  • Accelerating operational and cost efficiency plan in H2 2025
  • Executive management changes from September 2025
• We remain active in consolidation of the energy consultancy industry
  • Acquisitions of Proper Marine and Techconsult in 2025, following Ross Offshore and Hidromod in 2024
• Market outlook
  • O&G: Generally flat market development, with volatility from regional demand and commodity price shifts
  • Renewables: Whilst tendering has increased, some project commencements are still subject to delays
  • Maritime: Maintaining strong position in a relatively stable market
• Improving capital efficiency and returning cash to shareholders on semi-annual schedule
  • Semi-annual dividend of NOK 0.45 paid in June 2025, anticipate second dividend of NOK 0.45 per share in Q4

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