Aker Horizons — Audit Report / Information 2026

Mar 30, 2026

Liquidation balance sheet
as of 28 February 2026
Aker Horizons ASA (under liquidation)

Org no: 925 978 558

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Docusign Envelope ID: 5E767116-CEC7-4D26-91C0-19DFE662C4F9

Aker Horizons ASA - under liquidation

Liquidation balance sheet

Amounts in NOK thousand
28.02.2026

Assets

Current operating assets	100
Cash and cash equivalents	15 417
Total current assets	15 517
Total assets	15 517

Equity and liabilities

Share capital	6 903
Other equity	(1 909)
Total equity	4 995
Current liabilities and accruals	10 522
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Total current liabilities	10 522
Total equity and liability	15 517

Fornebu, 27 March 2026

The Board of Directors of Aker Horizons ASA (under liquidation)

Signed by:
Trond Brandsrud
7173C7C1582F4B9
Trond Brandsrud
Chair

Signed by:
Svein Oskar Stoknes
152A4A908EC9420
Svein Oskar Stoknes
Director

DocuSigned by:
Lone Fønss Schrøder
100A96CE7BEE7498
Lone Fønss Schrøder
Director

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Aker Horizons ASA (under liquidation)

Note 1 - General information

The main office of Aker Horizons ASA (the Company) is located at Fornebu, Norway, and the Company is listed on the Oslo Stock Exchange under the ticker AKH.

In 2025, structural changes were implemented within the Aker Horizons group. Aker Horizons ASA's former subsidiary, Aker Horizons Holding AS - which comprised all business activities of the Aker Horizons group, including its shareholding in Aker Carbon Capture ASA (ACC), its investments in Mainstream Renewable Power and SuperNode, as well as Aker Horizons Asset Development - was merged with Aker HoldCo AS, a subsidiary of Aker ASA. The transaction was completed on 11 September 2025 and followed a comprehensive strategic review for Aker Horizons ASA. Following completion of the merger, Aker Horizons ASA held a cash position of approximately NOK 20 million, a NOK 1.6 billion convertible bond loan, and a corresponding receivable of NOK 1.6 billion from Aker HoldCo AS. Following the merger, the Company had no operational activities and no remaining investment portfolio.

The convertible bond loan and the corresponding receivable was settled in February 2026. After settlement, the Company had no material outstanding commitments or assets. As part of its strategic review, the Board of Directors considered several alternative courses of action for the Company. No viable alternatives were identified, and the Board of Directors concluded that any new activity would have required substantial new equity funding.

Based on this assessment, the Board of Directors proposed to the General Meeting that the Company is liquidated and that an application is submitted for the delisting of the Company's shares from Euronext Oslo Børs. These proposals were approved on an extraordinary general meeting in the Company on 26 February 2026 and a proposal for delisting was sent to Euronext Oslo Børs. On 18 March 2026, Euronext Oslo Børs announced its decision to delist the shares from trading on Euronext Oslo Børs. The last day of trading will be 17 April 2026.

Note 2 - Basis for preparation

The liquidation balance sheet has been prepared in accordance with Section 16-6 of the Norwegian Public Limited Liability Companies Act (Almennaksjeloven). It does not include all of the information and disclosures required for a complete set of financial statements. The accounting policies applied are the same as those used in the Company's financial statements for the year ended 31 December 2024, available at www.akerhorizons.com. The financial statements for the year ended 31 December 2025 are not yet available.

The liquidation balance sheet includes all estimated liabilities up to the final liquidation of the Company. In the preparation of the liquidation balance sheet, assets are measured at realizable fair value, and liabilities are measured at their expected settlement value. Actual results may differ from the amounts calculated based on these assumptions.

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pwc

To the General Meeting of Aker Horizons ASA under liquidation

Independent Auditor's Report

Opinion

We have audited the List of Aker Horizons ASA - under liquidation's assets, rights and obligations, and the Balance Sheet as of 28 February 2026 prepared with a view to liquidate the company. In our opinion, the List is prepared in all material respects in accordance with the requirements of the Norwegian Public Limited Liability Companies Act.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the List and the Balance Sheet section of our report. We are independent of the Company as required by relevant laws and regulations in Norway and the International Ethics Standards Board for Accountants' International Code of Ethics for Professional Accountants (including International Independence Standards) (IESBA Code) as applicable to audits of financial statements of public interest entities, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Responsibilities of the Board of Directors for the List and the Balance Sheet

The Board of Directors is responsible for the preparation of the List of assets, rights and obligations and the Balance Sheet in accordance with the requirements of the Norwegian Public Limited Liability Companies Act and for such internal control as the Board of Directors determine is necessary to enable the preparation of a List and a Balance Sheet that are free from material misstatement, whether due to fraud or error.

Auditor's Responsibilities for the Audit of the List and the Balance Sheet

Our objectives are to obtain reasonable assurance about whether the List and the Balance Sheet as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs, will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this List and Balance Sheet.

As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

• identify and assess the risks of material misstatement of the List and the Balance Sheet, whether due to fraud or error. We design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control.

PricewaterhouseCoopers AS, org.no.: 987 009 713 MVA, Statsautoriserte revisorer, medlemmer av Den norske Revisorforening og autorisert regnskapsførerselskap
Advokatfirmaet PricewaterhouseCoopers AS, Org.no.: 988 371 084 MVA, Medlemmer av Advokatforeningen. advokatfirmaet@pwc.com
PwC Tax Services AS, Org.no.: 962 066 321 MVA, Autorisert regnskapsførerselskap, Medlem av Regnskap Norge

Dronning Eufemias gate 71, Postboks 748 Sentrum, NO-0106 Oslo, T: 02316 (+47 952 60 000) www.pwc.no

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• evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Board of Directors.
• evaluate the overall presentation, structure and content of the List and the Balance Sheet, including the disclosures, and whether the List and the Balance Sheet represent fairly the underlying transactions and events.

We communicate with the Board of Directors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Oslo, 27 March 2026
PricewaterhouseCoopers AS

Therese Thoresen
State Authorised Public Accountant

(This document is signed electronically)

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2026-03-27 09:35:49 UTC+01:00

Therese Thoresen

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