Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

Sign up Log in

Zaptec AS Interim / Quarterly Report 2025

Feb 18, 2026

3796_rns_2026-02-18_06d5924c-8a45-4df1-9fb2-43110ddd122b.pdf

Interim / Quarterly Report

Open in viewer

Opens in your device viewer

{0}------------------------------------------------

Q4 2025

Quarterly update

{1}------------------------------------------------

Update from the CEO Highlights Financial summary Market development Executing the strategy Outlook Financial statements

Zaptec powers adventure

{2}------------------------------------------------

Setting records

Dear shareholders,

The fourth quarter rounds off a milestone year for Zaptec. We delivered record revenue and EBITDA, strengthened our market position across Europe, and entered 2026 with strong momentum. Order intake and backlog continue to signal profitable growth.

During Q4, installation activity remained high, with LTM in‑ stallations exceeding 20,000 units per month in December. This sustained pace confirms that our products, platform, and go‑to‑market model continue to resonate with install‑ ers and end customers.

We also saw strong progress in our major markets, deliver‑ ing 79% revenue growth across Benelux, the UK, Germany, and France. Combined with continued strength in the Nor‑ dics and Switzerland, Zaptec is now well positioned to cap‑ ture the next phase of European EV charging expansion.

Financially, the quarter marked another step forward. Gross margin rose above 41%, EBITDA improved, and liquidity strengthened with more than 200 MNOK, supported by robust cash flow and inventory normalization. Our solid

balance sheet allows us to initiate dividend payments, which we trust will be welcomed by shareholders.

With a solid backlog and scalable cost structure, we enter 2026 with confidence. Looking ahead, our strategic pri‑ orities remain clear: expand in major markets, accelerate new product rollout, and enhance integration and R&D capabilities to support scale. At the same time, we remain committed to COGS improvements, operational leverage, and disciplined cash flow management to ensure sustaina‑ ble long‑term value creation.

Zaptec's momentum reflects the strength of our team, partners, and customers. As we step into 2026, we do so with ambition, resilience, and confidence in our ability to lead Europe's EV charging future.

Thank you for your ongoing trust and support.

{3}------------------------------------------------

Q4 highlights

  • Revenue of 433 MNOK
  • Order intake of 645 MNOK
  • Order backlog of 729 MNOK
  • Gross margin of 41%
  • Opex of 134 MNOK
  • EBITDA of 45 MNOK
  • Inventory reduced by 92 MNOK
  • Available liquidity 736 MNOK
  • Dividend of 2.0 NOK per share*

Key financial figures

MNOK/% Q4 2025 Q4 2024 YTD 2025 YTD 2024
Revenues 433 327 1532 1267
Export Share 74% 75% 77% 78%
Gross margin 41% 40% 40% 39%
Opex 134 111 491 436
Opex share of revenue 31% 34% 32% 34%
EBITDA 45 19 123 55
EBITDA Margin 10% 6% 8% 4%
Available liquidity* 736 318 736 318

available overdraft facility

Quarterly revenue and order intake (MNOK)

* Sum of ordinary and extraordinary dividend, subject to approval at AGM and from financial creditors.

{4}------------------------------------------------

Financial summary

Revenue

The quarterly revenue was 433 MNOK compared to 327 MNOK in the same period last year. The backlog of firm orders amounted to 729 MNOK by the end of 2025, following an order intake of 645 MNOK.

Export share

The export share was 74% in the fourth quarter compared to 75% in the same period last year and versus 77% for 2025 in total due to strong sales in Norway in Q4 2025.

Gross margin

The gross margin in the quarter was 41.4%, which means the long-term trend of driving gross margin higher continued. The increase was driven by product mix, with higher Zaptec Go 2 sales. The gross margin in Q4 last year was 39.7%.

Opex

Total employee benefit expenses and other operating expenses in the fourth quarter were 134 MNOK, versus 111 MNOK in the same period last year. That said, it is important to see the Opex increase in the right context; Opex as share of revenue declined from 34% in Q4'24 to 31% in Q4'25.

EBITDA

EBITDA in the fourth quarter was 45 MNOK compared to 19 MNOK in the same period last year.

Inventory

Inventory was reduced to 222 MNOK at the end of Q4, a decrease of 92 MNOK compared to the previous quarter.

Available Liquidity

The cash balance with total cash, available overdraft facility, deposits, and other funds at the end of 2025 was 736 MNOK, compared to 318 MNOK at the end of 2024. The net cash position at the end of December 2025 was 436 MNOK.

Initiating Shareholder Distributions

In the fourth quarter, Zaptec initiated shareholder distributions for the first time, introducing a dividend policy targeting payouts of up to 50% of annual net profit. The Board has proposed a total dividend of NOK 2.0 per share — NOK 0.3 as an ordinary div‑ idend and NOK 1.7 as an extraordinary dividend reflecting the company's solid liquidity and strong financial position. Even after the proposed distribution, Zaptec maintains the financial flexibility needed to support continued investment in growth, innovation, and operational scaling.

{5}------------------------------------------------

European EV adoption continued

European plug-in vehicle sales increased 40% compared to the same quarter last year.

EV adoption continues to accelerate as electric mobili‑ ty becomes increasingly cost‑effective for consumers, supported by a rapidly expanding charging ecosystem across Europe. In 2025, plug‑in vehicles accounted for 26.4% of all new cars sold—up from 20.7% in 2024 highlighting the strength of the underlying trend.

With incentives, declining vehicle prices, and stronger charging networks, industry forecasts indicate sus‑ tained momentum, with the EV market expected to grow 15–20% annually in the coming years. This trajec‑ tory will continue to drive demand for smart, scalable AC charging solutions.

{6}------------------------------------------------

Executing the strategy

Zaptec is delivering on a four-pillar strategy focused on long-term value creation.

  1. Building upon strong momentum in core markets

Installation activity remains strong

Installation rates continued their positive trajectory through Q4, with LTM installations rising steadily and surpassing 20,000 units per month in December. This sustained growth confirms robust underlying demand for Zaptec's solutions and reflects both a larger in‑ stalled base and increasing adoption across Europe.

Strong growth in mature markets

Zaptec delivered solid performance in its established markets during Q4. Revenue grew 51% in Norway, 35% in Denmark, and 29% in Sweden, demonstrating the company's ability to maintain high market shares while driving further expansion. These results under‑ line the strength of Zaptec's position in its core regions and provide a solid platform for continued European growth.

Over 240 000 Zaptec installations

across Europe in 2025, more than 650 per day.

Revenue growth Q4'25 vs Q4'24

2. Accelerate product roll-outs and integrations

Zaptec continued progress across production, prod‑ uct development, and ecosystem positioning. On the operational side, production remained fully on plan, supported by established manufacturing capacity at Westcontrol in Norway and Sanmina in Germany, while preparations for a new production line in Hunga‑ ry are underway and expected to commence during 2026. This expanded footprint ensures the company is well‑positioned to scale output in line with future growth needs.

Product development also advanced during the quar‑ ter, driven by continuous, data‑based improvements across hardware, firmware, and cloud services. Regular over‑the‑air updates further enhanced device perfor‑ mance, and Zaptec broadened its integrations with EVs, energy systems, and grid‑service platforms strengthening the performance and adaptability of the overall charging ecosystem.

{7}------------------------------------------------

04 Highlights

05 Financial Summary

06 Market Development

07 Executing the strategy →

10 Outlook

11 Financial Statements

At the same time, Zaptec reinforced its strategic role at the intersection of mobility, energy, and infrastructure. By engaging with a broad network of partners—includ‑ ing mobility service providers, installers, infrastructure operators, wholesalers, energy suppliers, and digital energy platforms—the company continues to deepen its position within the connected EV landscape. This in‑ tegration across the value chain supports high‑quality customer experiences and improves the scalability of Zaptec's solutions as electrification accelerates across Europe

3. Expanding in major markets

Benelux on fire

In the Benelux Zaptec is gaining momentum with rev‑ enue almost doubling year-on-year in Q4 to 58 MNOK, driven by strong Zaptec Go 2 adoption and continued momentum in Zaptec Pro and Zaptec Go sales.

Growth back on the agenda in the UK

While progress takes time, Zaptec's growth returned in the UK market in Q4, with revenue increasing 15% year‑on‑year. This recovery was supported by growing visibility from the UK launch of Zaptec Go 2. Expansion in the wholesale channel also contributed positively, with the UK team adding new regional business devel‑ opment managers and strengthening its go‑to‑market setup.

Strong growth in France

Q4 revenue in France exceeded 10 MNOK— around three times higher than in Q4 2024—driven by strong Zaptec Pro momentum. To further accelerate growth, Zaptec is preparing to enter the French home‑charging segment with a local version of Zaptec Go 2, signifi‑ cantly expanding the addressable market. The launch is planned for first half of 2026.

Zaptec's expansion in Germany continued with revenue above 6 MNOK—more than 3x from the same peri‑ od last year. This growth reflects progress in securing new partners and actively marketing Zaptec Go 2 and Zaptec Pro M&E. We also continued with intensified customer training and support in Germany to ensure readiness for adoption and deployment.

Revenue, MNOK

{8}------------------------------------------------

4. Drive improvements to maximize cash flow

Scalable and sustainable cost structure

Operating expenses remained at a sustainable level in Q4 as Zaptec continued to focus investment on growth and innovation. Opex increased slightly compared to earlier quarters, but revenue continued to scale faster than costs, reinforcing Zaptec's scalable cost structure, with Opex declining as a share of revenue over time from 34% in Q4 2024 to 32% in Q4 2025 on LTM basis. This disciplined approach ensures Zaptec maintains competitiveness while supporting long‑term profitable growth.

Inventory normalised to target levels

Inventory levels continued to normalize in Q4, with a further reduction of 92 MNOK during the quarter. This brings Zaptec to its target of finished‑goods inventory in the 2-300 MNOK target range, strengthening work‑ ing‑capital efficiency and improving cash flow.

Strong cash flow and strengthened liquidity

Zaptec delivered another quarter of robust cash gen‑ eration, driving a significant improvement in liquidity. By the end of Q4, available liquidity had increased to 736 MNOK, up from 532 MNOK in Q3, supported by solid earnings, disciplined Opex, and continued inven‑ tory reductions.

Scalable cost structure: Declining Opex share as revenue grows Inventory reduced by 92 MNOK

{9}------------------------------------------------

Summary and outlook

Q4 summary

  • Strong EV market across Europe
  • Record quarterly revenue, EBITDA and order intake
  • High installation levels and solid order backlog
  • Leadership strengthened in core markets
  • Revenue in major markets up 79% YoY
  • Inventory normalized with available liquidity at 736 MNOK at year-end
  • New dividend policy and initiation of shareholder distributions with total dividend of 2.0 NOK per share:
  • 0.3 NOK ordinary dividend, plus
  • 1.7 NOK extraordinary dividend
  • Balance sheet remains strong after dividend payment, enabling continued investment in growth

Outlook

  • EV market growth remains strong across Europe
  • Continued expansion in Germany, UK, France and Benelux
  • Product focus on continuous improve‑ ments, integrations and R&D execution
  • Margin improvement through COGS reduction and scale
  • Profitable growth expected to continue in 2026

{10}------------------------------------------------

Financial statements

Consolidated statement of profit or loss 12
Consolidated statement of comprehensive income 12
Consolidated statement of financial position 13
Consolidated statement of cash flows 14
Consolidated statement of changes in equity 15

Notes

Note 1 - Basis of preparation 16
Note 2 - Significant accounting policies 16
Note 3 - Significant events and transactions 16
Note 4 - Segment information 18
Note 5 - Revenues from contracts with customers 22
Note 6 - Financial income and expense 26
Note 7 - Income tax 26
Note 8 - Intangible assets and goodwill 27
Note 9 - Inventories 27
Note 10 - Trade receivables 27
Note 11 - Other current assets 27
Note 12 - Other non-current assets 27
Note 13 - Provisions 27
Note 14 - Loans and borrowings 28
Note 15 - Other current liabilities 29
Note 16 - Events after the reporting date 29

{11}------------------------------------------------

Consolidated statement of profit or loss

Unaudited Fourth quarter YTD
In NOK 1000 Note 2025 2024 2025 2024
Operating income
Revenues from contracts with customers 4,5 432 620 326 808 1 531 969 1 266 988
Other operating income 77 0 77 0
Total operating income 432 697 326 808 1 532 046 1 266 988
Operating expenses
Cost of inventories 4 253 729 196 908 917 971 775 743
Employee benefit expenses 3,4 82 492 58 952 288 587 242 072
Depreciation and amortisation expense 4,8 13 303 10 740 37 653 33 952
Other operating expenses 4 51 841 51 829 202 006 193 902
Total operating expenses 401 365 318 429 1 446 216 1 245 669
Operating profit/loss 31 331 8 379 85 829 21 318
Financial income and expenses
Finance income 6 3 801 16 083 4 149 2 764
Finance expense 6 3 021 11 003 20 310 26 851
Net financial income (+) and expenses (-) 780 5 080 -16 161 -24 087
Profit (+)/loss (-) before tax 32 111 13 459 69 668 -2 769
Tax expense (+)/benefit (-) 7 -134 -2 912 15 779 468
Profit (+)/loss (-) after tax 32 245 16 371 53 889 -3 236
Total profit/loss attributable to:
Owners of the parent 32 245 16 371 53 889 -3 236
Non-controlling interest 0 0 0 0
Basic earnings per shares 0,368 0,187 0,616 -0,037

Consolidated statement of comprehensive income

Unaudited Fourth quarter YTD
In NOK 1000 Note 2025 2024 2025 2024
Profit (+)/loss (-) for the period 32 245 16 371 53 889 -3 236
Items that will or may be reclassified to profit or loss:
Exchange gains arising on translation of foreign
operations		 15 326 6 510 11 001 4 283
Total comprehensive income 47 571 22 881 64 889 1 046
Total comprehensive income attributable to:
Owners of the parent 47 571 22 881 64 889 1 046
Non-controlling interest 0 0 0 0

{12}------------------------------------------------

Consolidated statement of financial position

In NOK 1000 Note 31.12.2025 31.12.2024
ASSETS
Goodwill and intangible assets
Goodwill 8 82 931 81 734
Other intangible assets 8 118 536 101 930
Deferred tax asset
Deferred tax asset 7 43 182 37 219
Tangible assets
Property, plant and equipment 8 10 559 14 490
Right-of-use assets 8 47 623 41 079
Other non-current assets 12 521 392
Total non-current assets 303 352 276 844
Inventories
Inventories 9 221 754 491 779
Receivables
Trade receivables 10 182 409 170 404
Other current assets
Other current assets 11 11 893 95 521
Cash and cash equivalents
Cash and cash equivalents 435 520 177 744
Total current assets 851 577 935 448

Consolidated statement of financial position

Unaudited
In NOK 1000 Note 31.12.2025 31.12.2024
EQUITY AND LIABILITIES
Equity
Share capital 1 313 1 313
Treasury shares 0 -1
Share premium 646 945 646 945
Other paid in equity 35 871 20 851
Foreign exchange reserve 47 689 36 686
Other reserves 20 260 -27 212
Total equity 752 078 678 581
Non-current liabilities
Deferred tax 7 889 5 475
Long-term lease liabilities 8 41 891 36 453
Long-term deferred income 5 65 999 59 626
Long-term provisions 13 0 574
Total non-current liabilities 108 779 102 127
Current liabilities
Trade payables 132 703 138 963
Short-term loans and borrowings 14 0 159 971
Short-term lease liabilities 8 7 841 6 439
Short-term deferred income 5 36 562 28 227
Tax payable 7 25 525 10 412
Other current liabilities 15 68 084 65 264
Short-term provisions 13 23 356 22 309
Total current liabilities 294 070 431 585
Total liabilities 402 849 533 713
TOTAL EQUITY AND LIABILITIES 1 154 928 1 212 293

{13}------------------------------------------------

Consolidated statement of cash flows

Unaudited Fourth quarter YTD
In NOK 1000 Note 2025 2024 2025 2024
Cash flow from operating activities
Profit (+)/loss (-) before tax 32 111 13 459 69 668 -2 769
Taxes paid -8 555 0 -18 967 -20 984
Depreciation and amortisation expense 8 13 305 10 740 37 653 33 952
Shared based payment expense 3 8 514 -2 150 18 291 5 869
Change in trade receivables 10 25 536 39 409 -12 005 15 641
Change in inventories 9 92 583 48 933 270 025 -44 430
Change in trade payables 23 191 18 933 -6 260 -105 641
Change in other accrual items* 30 310 -50 964 81 201 69 221
Net cash flow from operating activities 216 996 78 360 439 605 -49 141
Cash flow from investment activities
Purchases of property, plant and equipment 8 -13 396 -15 271 -47 164 -44 393
Proceeds from sale of PP&E 0 0 0 0
Advances/loans to suppliers 11 6 943 22 823 36 984 -7 720
Net cash flow from investment activities -6 453 7 552 -10 180 -52 114

* From 2024 change in other accrual items includes financial items

Consolidated statement of cash flows

Unaudited Fourth quarter YTD
In NOK 1000 Note 2025 2024 2025 2024
Cash flow from financing activities
Repayment of loans and borrowings 14 0 0 -159 971 0
Draw down on credit facility 14 0 -26 548 0 159 971
Lease liabilities 8 -7 782 -4 036 -8 866 -9 934
Interest on lease liabilities 8 -799 -577 -2 482 -2 442
Interest on debts and borrowings 1 096 -3 992 -1 648 -11 366
Purchase of treasury shares 0 0 -1 469 0
Proceeds from equity 0 0 0 0
Sale of treasury shares 0 0 2 787 1 125
Net cash flow from financing activities -7 486 -35 153 -171 649 137 355
Net change in cash and cash equivalents 203 057 50 759 257 776 36 100
Cash and cash equivalents at start of period 232 463 126 985 177 744 141 643
Cash and cash equivalents at end of period 435 520 177 743 435 520 177 743

{14}------------------------------------------------

Consolidated statement of changes in equity

03 Update from the CEO

04 Highlights

05 Financial Summary

06 Market Development

07 Executing the strategy

10 Outlook

11 Financial Statements →

In NOK 1000 Share Capital Own shares Share premium Other paid in
capital		 Foreign exchange
reserve		 Other equity Total equity
holders of the
parent		 Non-controlling
interest		 Total equity
1 January 2024 1 313 -3 646 945 14 982 28 960 -27 373 664 823 0 664 823
Profit (+)/loss (-) after tax 0 0 0 0 0 -3 236 -3 236 0 -3 236
Other comprehensive Income 0 0 0 0 7 726 -3 443 4 283 0 4 283
Purchase of treasury shares 0 2 0 0 0 1 123 1 125 0 1 125
Capital increase 0 0 0 0 0 0 0 0 0
Share based payments 0 0 0 5 869 0 0 5 869 0 5 869
Differences from earlier periods* 0 0 0 0 0 5 717 5 717 0 5 717
31 December 2024 1 313 -1 646 945 20 851 36 686 -27 212 678 581 0 678 581
1 January 2025 1 313 -1 646 945 20 851 36 686 -27 212 678 581 0 678 581
Profit (+)/loss (-) after tax 0 0 0 0 0 53 889 53 889 0 53 889
Other comprehensive Income 0 0 0 0 11 001 0 11 001 0 11 001
Purchase of treasury shares 0 1 0 0 0 -1 469 -1 468 0 -1 468
Share based payments 0 0 0 15 021 0 2 787 17 808 0 17 808
Differences from earlier periods* 0 0 0 0 0 -7 732 -7 732 0 -7 732
31 December 2025 1 313 0 646 945 35 871 47 689 20 260 752 078 0 752 078

* Relates to differences in opening balance versus consolidated financial statement for 2024.

{15}------------------------------------------------

Notes

Note 1 - Basis of preparation

These interim condensed consolidated financial statements have been prepared in accordance with IAS 34 Interim Financial Reporting. They were authorised for issue by the board of directors on 17 February 2026. They do not include all disclosures that would otherwise be required in a complete set of financial statements and should be read in conjunction with the 2024 IFRS financial statement issued by the company on 26 March 2025.

Note 2 - Significant accounting policies

The Group has applied the same accounting policies and methods of computation in its interim consolidated financial statements as in its 2024 annual financial statements.

Note 3 - Significant events and transactions

Share based payments

New programs in 2022

Share-based incentive program for all employees

As of 01.01.2023 The Group implemented a new share-based incentive program for new employees in 2022. Under the program all employees are entitled to a bonus equal to 20% of the annual salary at 31.12.2022. The shares will be allocated to the employees after the three year vesting period, i.e. shortly after 01.01.2026. Under the program the number of shares received is fixed at 01.01.2023. The number of shares equals 20% of the annual salary divided by the share price of Zaptec ASA based on average stock price last 15 days of 2022.

The share portion is accounted for as an equity settled share-based payment program, that is the fair value of the equity instruments at grant date will be expensed over the vesting period (01.01.2026). Fair value is measured by using the actual average stock price of the last 15 days of 2022.

The company operates two equity-settled share-based remuneration schemes for key management:

Share-based incentive program for management

As of 01.01.2025 The Group implemented a new share-based incentive program for management. The program consist of a share element and a cash element defined by the board on a year-to-year basis. The bonus will be determined based on achievement of certain metrics. One half of the bonus is paid in form of shares, and the other half is in the form of a cash payment. The employee may choose to utilize the cash payment, in whole or in part, to acquire additional shares. If the Employees utilize the cash payment to acquire additional shares, the company will give each employee one share for each additional share acquired by said employee (1:1 matching). All shares acquired by the employee will be valued at market value at the time of acquisition, with a deduction of 15 per cent for the purposes of determining the number of shares which each employee is entitled to receive under the bonus program. The market value of the shares shall be equal to the volume weighted average listed price of the shares in the company during the two-week period prior to the date when the employee elected whether to use the cash payment to acquire additional shares.

Share-based payment program for key management and board of directors (Stock option program)

Share based payment expense is charged to the income statement with the following amounts per Q4 2025, full year 2024 and 2025.

Fourth
quarter		 Full year
In NOK 1000 2025 2024 2025
Share-based incentive program for all employees 1 152 2 206 5 005
Share-based incentive program for management* 4 562 -4 356 10 488
Provision for social security contribution 1 331 -1 348 2 798
Total 7 045 -3 498 18 291

All sales or purchases of treasury shares are related to options and/or the share-based incentive programs.

{16}------------------------------------------------

Note 4 - Segment information

The Group consists of several legal entities where most of the entities are established to handle sales in a specific country. For management purposes, financial information is reported to the group management based on a legal entity basis. The group management is identified as the chief operating decision maker. Based on the internal reporting the following reportable segments are identified.

Zaptec Charger AS

This segment is involved in the sale of Zaptec products in Norway, and to customers in other countries where the Group has not established an entity or sales organization. Zaptec Charger AS also handles procurement of goods and internal sales.

Zaptec Sverige AB

This segment is involved in the sale and distribution of Zaptec products in Sweden.

Zaptec Schweiz AG

This segment is involved in the sale and distribution of Zaptec products in Switzerland.

Zaptec Danmark ApS

This segment is involved in the sale and distribution of Zaptec products in Denmark.

Zaptec Netherlands B.V.

This segment is involved in the sale and distribution of Zaptec products in Netherlands and Belgium.

Other

Consist of all other legal entities in the group.

{17}------------------------------------------------

Year-to-date 31.12.2025

In NOK 1000 Zaptec Charger AS Zaptec Sverige AB Zaptec Schweiz AG Zaptec Danmark ApS Zaptec Netherlands BV Other Adjustments and
eliminations		 Total
Operating income
Revenues from contracts with customers 413 787 385 962 224 090 199 819 218 316 104 777 -14 705 1 532 046
Revenues from internal sales 772 166 0 0 0 0 1 750 -773 916 0
Revenues from shared services 13 326 11 796 1 706 0 10 210 7 483 -44 522 0
Total operating income 1 199 279 397 759 225 796 199 819 228 526 114 010 -833 143 1 532 046
Operating expenses
Cost of inventories 886 726 289 596 122 228 155 704 155 826 83 922 -776 031 917 971
Employee benefit expenses 166 957 28 027 38 322 9 461 16 985 35 463 -6 627 288 587
Depreciation and amortisation expense 20 824 110 0 0 209 527 15 982 37 653
Other operating expenses 127 907 30 564 -2 014 12 598 20 288 41 405 -28 742 202 006
Total operating expenses 1 202 413 348 297 158 536 177 764 193 308 161 316 -795 418 1 446 216
Operating result -3 134 49 462 67 260 22 055 35 219 -47 306 -37 725 85 829

Year-to-date 31.12.2024

In NOK 1000 Zaptec Charger AS Zaptec Sverige AB Zaptec Schweiz AG Zaptec Danmark ApS Zaptec Netherlands BV Other* eliminations Total
Operating income
Revenues from contracts with customers 369 534 339 309 237 811 148 427 0 185 493 -13 586 1 266 988
Revenues from internal sales 590 710 0 0 0 0 1 750 -592 460 0
Revenues from shared services 16 768 7 761 0 736 0 12 407 -37 672 0
Total operating income 977 012 347 070 237 811 149 163 0 199 650 -643 718 1 266 988
Operating expenses
Cost of inventories 739 900 258 926 112 695 112 686 0 135 001 -583 464 775 743
Employee benefit expenses 151 445 19 679 36 834 9 473 0 45 635 -20 994 242 072
Depreciation and amortisation expense 16 224 73 0 0 0 673 16 982 33 952
Other operating expenses 131 881 15 952 20 344 16 235 0 43 759 -34 269 193 902
Total operating expenses 1 039 450 294 630 169 872 138 394 0 225 068 -621 745 1 245 669
Operating result -62 438 52 439 67 939 10 770 0 -25 418 -21 973 21 318

*Includes Zaptec Netherlands BV in 2024

Adjustments and

{18}------------------------------------------------

04 Highlights

05 Financial Summary

06 Market Development

07 Executing the strategy

10 Outlook

11 Financial Statements →

Quarter 31.12.2025

In NOK 1000 Zaptec Charger AS Zaptec Sverige AB Zaptec Schweiz AG Zaptec Danmark ApS Zaptec Netherlands BV Other Adjustments and
eliminations		 Total
Operating income
Revenues from contracts with customers 133 723 115 303 57 153 44 614 58 016 30 927 -7 038 432 697
Revenues from internal sales 208 063 0 0 0 0 438 -208 501 0
Revenues from shared services 13 326 2 180 431 0 2 917 1 696 -20 549 0
Total operating income 355 112 117 483 57 583 44 614 60 933 33 060 -236 088 432 697
Operating expenses
Cost of inventories 244 028 89 501 32 589 37 203 41 997 25 871 -217 461 253 729
Employee benefit expenses 48 638 8 348 13 091 3 025 3 791 10 458 -4 859 82 492
Depreciation and amortisation expense 8 609 30 0 0 72 144 4 448 13 303
Other operating expenses 43 954 4 238 -10 496 4 602 2 707 12 753 -5 918 51 841
Total operating expenses 345 229 102 118 35 184 44 831 48 567 49 227 -223 790 401 365
Operating result 9 883 15 365 22 399 -217 12 366 -16 167 -12 298 31 331

Quarter 31.12.2024

In NOK 1000 Zaptec Charger AS Zaptec Sverige AB Zaptec Schweiz AG Zaptec Danmark ApS Zaptec Netherlands BV Other* eliminations Total
Operating income
Revenues from contracts with customers 102 970 83 578 55 623 36 825 0 47 936 -124 326 808
Revenues from internal sales 164 617 0 0 0 0 438 -165 055 0
Revenues from shared services 8 244 2 126 0 0 0 3 774 -14 143 0
Other operating income 0 0 0 0 0 0 0 0
Total operating income 275 831 85 704 55 623 36 825 0 52 147 -179 322 326 808
Operating expenses
Cost of inventories 189 580 64 273 30 337 27 904 0 36 118 -151 304 196 908
Employee benefit expenses 38 906 4 582 11 711 2 052 0 11 006 -9 305 58 953
Depreciation and amortisation expense 6 521 22 0 0 0 171 4 026 10 739
Other operating expenses 32 515 7 740 4 187 5 151 0 8 321 -6 086 51 828
Total operating expenses 267 522 76 616 46 235 35 108 0 55 616 -162 669 318 429
Operating result 8 309 9 087 9 388 1 717 0 -3 468 -16 653 8 379

*Includes Zaptec Netherlands BV in 2024 19

Adjustments and

{19}------------------------------------------------

Adjustments and eliminations

The Group evaluates segmental performance on the basis of profit or loss from operations calculated based on local financial statements. Adjustments for IFRS 16 and eliminations are included in the column adjustments and eliminations. Depreciation and amortisation excess values from business combinations are not allocated to individual segments as the underlying assets are managed on a group basis.

0 Adjustments and eliminations is as follows:

0 Year-to-date 31.12.2025

0
In NOK 1000		 Revenues from
internal sales		 Cost of
inventories		 Employee benefit
expenses		 Depreciation and
amortisation expense		 Other operating
expenses
0
Elimination of internal sales(1)		 -773 916 -774 302 0 0 0
0
Elimination of shared services (2)		 -44 444 0 -27 484 0 -18 716
0
IFRS 16 adjustments (3)		 0 0 0 9 035 -11 348
0
GAAP-adjustment to inventory (4)		 0 -1 122 0 0 0
0
Amortization of excess values (5)		 0 0 0 6 947 0
0
Gains on internal transactions (6)		 0 -607 0 0 0
0
Share-based incentive program (7)		 0 0 20 856 0 0
0
Provision for warranty claims (8)		 0 0 0 0 2 536
0
Other (9)		 0 0 0 0 -1 214
0
IFRS 15 adjustments (10)		 -14 705 0 0 0 0
Total
0		 -833 065 -776 031 -6 627 15 982 -28 742

0 Year-to-date 31.12.2024

0
In NOK 1000		 Revenues from
internal sales		 Cost of
inventories		 Employee benefit
expenses		 Depreciation and
amortisation expense		 Other operating
expenses
0
Elimination of internal sales(1)		 -592 460 -589 034 0 0 0
0
Elimination of shared services (2)		 -37 672 0 -17 805 0 -21 627
0
IFRS 16 adjustments (3)		 0 0 0 10 136 -11 093
0
GAAP-adjustment to inventory (4)		 0 4 661 0 0 0
0
Amortization of excess values (5)		 0 0 0 6 845 0
Gains on internal transactions (6) 0 1 021 0 0 0
Share-based incentive program (7) 0 0 5 550 0 0
Provision for warranty claims (8) 0 0 0 0 2 160
Other (9) 540 -112 -8 739 0 -3 709
IFRS 15 adjustments (10) -14 127 0 0 0 0
Total -643 718 -583 465 -20 994 16 982 -34 269

{20}------------------------------------------------

Quarter 31.12.2025

In NOK 1000 Revenues from internal sales Cost of inventories Employee benefit expenses Depreciation and amortisation expense Other operating expenses
Elimination of internal sales(1) -346 510 -336 569 0 0 0
Elimination of shared services (2) -20 916 0 -14 636 0 4 591
IFRS 16 adjustments (3) 0 0 0 1 178 -2 761
GAAP-adjustment to inventory (4) 0 -5 725 0 0 0
Amortization of excess values (5) 0 0 0 1 849 0
Gains on internal transactions (6) 0 1 390 0 0 0
Share-based incentive program (7) 0 0 11 989 0 0
Provision for warranty claims (8) 0 0 0 0 2 536
Other (9) 0 -2 966 7 709 0 -4 926
IFRS 15 adjustments (10) -1 243 0 0 0 0
Total -368 669 -343 870 5 061 3 027 -559
Quarter 31.12.2024
In NOK 1000 Revenues from internal sales Cost of inventories Employee benefit expenses Depreciation and amortisation expense Other operating expenses
Elimination of internal sales (1) -165 055 -151 301 0 0 0
Elimination of shared services (2) -14 143 0 -4 958 0 1 680
IFRS 16 adjustments (3) 0 0 0 2 279 -2 505
GAAP-adjustment to inventory (4) 0 59 0 0 0
Amortization of excess values (5) 0 0 0 1 748 0
Gains on internal transactions (6) 0 3 017 0 0 0
Share-based incentive program (7) 0 0 -3 317 0 0
Provision for warranty claims (8) 0 0 0 0 2 160
Other (9) 540 -3 078 -1 030 0 -7 420
IFRS 15 adjustments (10) -664 0 0 0 0
Total -179 322 -151 303 -9 305 4 027 -6 086
  • (1) Elimination of internal sales relates to sale of inventory from Zaptec Charger AS eliminated against cost of inventory, and purchases made by Zaptec Charger from other group companies eliminated against other operating expenses.
  • (2) The group have global functions in several of the group companies that provides significant services to companies within the group. The amount charged for these services is presented as income in the company providing the service. The amount is eliminated on consolidation.
  • (3) Lease payment are expensed on a linear basis under local gaap. In the IFRS financial statement the leases are accounted for in accordance with IFRS 16, by recognition of are right of use asset and a lease liability. The expenses are included as amortization of the right-of-use asset and interest on the lease liability.

  • (4) Zaptec Schweiz AG includes an additional reduction of the carrying amount of inventory in line with local gaap. In the consolidated IFRS statement these reduction is reversed.

  • (5) Excess value from the acquisition of Zaptec Schweiz AG is included on group level.

  • (6) Gains on internal transaction of inventory.
  • (7) Share-based incentive program, ref. note 3
  • (8) Provision for warranty claims, ref. note 13
  • (9) Other
  • (10) IFRS 15 adjustments, ref. note 5

{21}------------------------------------------------

Note 5 - Revenues from contracts with customers

Disaggregation of Revenue

The Group has disaggregated revenue into various categories in the following table which is intended to:

  • Depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic date; and
  • Enable users to understand the relationship with revenue segment information provided in Note 4

Set out below is the disaggregation of the Group's revenue from contracts with customers:

Year-to-date 31.12.2025

Segments

In NOK 1000 Zaptec Charger AS Zaptec Sverige AB Zaptec Schweiz AG Zaptec Danmark ApS Zaptec Netherlands BV Other Total
Product sales 413 787 385 962 224 090 199 819 218 316 90 072 1 532 046
Total operating income 413 787 385 962 224 090 199 819 218 316 90 072 1 532 046
By business area - Geographical distribution
Norway 350 418 0 0 0 0 -15 070 335 347
Sweden 6 439 385 962 0 0 0 0 392 401
Switzerland 0 0 224 090 0 0 0 224 090
Denmark 0 0 0 199 819 0 0 199 819
Iceland 7 702 0 0 0 0 0 7 702
Finland 35 958 0 0 0 0 0 35 958
Belgium 0 0 0 0 32 405 0 32 405
France 0 0 0 0 0 29 289 29 289
Netherlands 0 0 0 0 185 911 0 185 911
Ireland 4 630 0 0 0 0 0 4 630
Germany 0 0 0 0 0 23 813 23 813
UK 0 0 0 0 0 51 653 51 653
Portugal 6 198 0 0 0 0 0 6 198
Rest of Europe 1 964 0 0 0 0 0 1 964
Other 480 0 0 0 0 386 866
Total operating income 413 787 385 962 224 090 199 819 218 316 90 071 1 532 046
Timing of revenue recognition
Goods transferred at a point in time 399 082 385 962 224 090 199 819 218 316 90 071 1 517 340
Goods and services transferred over time 14 705 0 0 0 0 0 14 705

Total operating income 413 787 385 962 224 090 199 819 218 316 90 071 1 532 046

{22}------------------------------------------------

04 Highlights

05 Financial Summary

06 Market Development

07 Executing the strategy

10 Outlook

11 Financial Statements →

Year-to-date 31.12.2024

Segments

In NOK 1000 Zaptec Charger AS Zaptec Sverige AB Zaptec Schweiz AG Zaptec Danmark ApS Zaptec Netherlands BV Other* Total
Product sales 369 534 339 309 237 811 148 427 0 171 907 1 266 988
Total operating income 369 534 339 309 237 811 148 427 0 171 907 1 266 988
By business area - Geographical distribution
Norway 295 188 0 0 0 0 -13 586 281 601
Sweden 22 899 339 309 0 0 0 0 362 208
Switzerland 0 0 237 811 0 0 0 237 811
Denmark 0 0 0 148 427 0 0 148 427
Iceland 7 781 0 0 0 0 0 7 781
Finland 26 208 0 0 0 0 0 26 208
Belgium 0 0 0 0 0 22 311 22 311
Poland 1 735 0 0 0 0 0 1 735
Netherlands 0 0 0 0 0 102 335 102 335
Ireland 6 691 0 0 0 0 0 6 691
Germany 0 0 0 0 0 6 721 6 721
UK 74 0 0 0 0 43 183 43 257
Portugal 4 211 0 0 0 0 0 4 211
Rest of Europe 1 925 0 0 0 0 10 942 12 868
Other 2 823 0 0 0 0 0 2 823
Total operating income 369 534 339 309 237 811 148 427 0 171 907 1 266 988
Timing of revenue recognition
Goods transferred at a point in time 356 072 339 309 237 811 148 427 0 171 907 1 253 526
Goods and services transferred over time 13 462 0 0 0 0 0 13 462
Total operating income 369 534 339 309 237 811 148 427 0 171 907 1 266 988

*Includes Zaptec Netherlands BV in 2024

{23}------------------------------------------------

04 Highlights

05 Financial Summary

06 Market Development

07 Executing the strategy

10 Outlook

11 Financial Statements →

Quarter 31.12.2025

Segments

In NOK 1000 Zaptec Charger AS Zaptec Sverige AB Zaptec Schweiz AG Zaptec Danmark ApS Zaptec Netherlands BV Other Total
Product sales 133 723 115 303 57 153 44 614 58 016 23 888 432 697
Total operating income 133 723 115 303 57 153 44 614 58 016 23 888 432 697
By business area - Geographical distribution
Norway 118 714 0 0 0 0 -6 962 111 751
Sweden 1 805 115 303 0 0 0 0 117 109
Switzerland 0 0 57 153 0 0 0 57 153
Denmark 0 0 0 49 802 0 0 49 802
Iceland 2 114 0 0 0 0 0 2 114
Finland 9 376 0 0 0 0 0 9 376
Belgium 0 0 0 0 8 139 0 8 139
France 0 0 0 0 0 10 112 10 112
Netherlands 0 0 0 0 49 877 0 49 877
Ireland 1 0 0 0 0 0 1
Germany 0 0 0 0 0 6 156 6 156
UK 0 0 0 0 0 14 523 14 523
Portugal 722 0 0 0 0 0 722
Rest of Europe 992 0 0 0 0 -327 665
Other 0 0 0 -5 188 0 386 -4 802
Total operating income 133 723 115 303 57 153 44 614 58 016 23 887 432 697
Timing of revenue recognition
Goods transferred at a point in time 126 056 115 303 57 153 44 614 58 016 23 888 425 030
Goods and services transferred over time 7 667 0 0 0 0 0 7 667
Total operating income 133 723 115 303 57 153 44 614 58 016 23 888 432 697

{24}------------------------------------------------

04 Highlights

05 Financial Summary

06 Market Development

07 Executing the strategy

10 Outlook

11 Financial Statements →

Quarter 31.12.2024

Segments

In NOK 1000 Zaptec Charger AS Zaptec Sverige AB Zaptec Schweiz AG Zaptec Danmark ApS Zaptec Netherlands BV Other* Total
Product sales 102 970 83 578 55 623 36 825 0 47 812 326 808
Total operating income 102 970 83 578 55 623 36 825 0 47 812 326 808
By business area - Geographical distribution
Norway 78 702 0 0 0 0 -124 78 578
Sweden 7 486 83 578 0 0 0 0 91 064
Switzerland 0 0 55 623 0 0 0 55 623
Denmark 0 0 0 36 825 0 0 36 825
Iceland 308 0 0 0 0 0 308
Finland 10 220 0 0 0 0 0 10 220
Belgium 0 0 0 0 0 5 577 5 577
Poland 228 0 0 0 0 0 228
Netherlands 0 0 0 0 0 24 587 24 587
Ireland 28 0 0 0 0 0 28
Germany 0 0 0 0 0 1 856 1 856
UK 0 0 0 0 0 12 659 12 659
Portugal 2 349 0 0 0 0 0 2 349
Rest of Europe 1 264 0 0 0 0 3 256 4 521
Other 2 385 0 0 0 0 0 2 385
Total operating income 102 970 83 578 55 623 36 825 0 47 812 326 808
Timing of revenue recognition
Goods transferred at a point in time 95 237 83 578 55 623 36 825 0 47 812 319 074
Goods and services transferred over time 7 734 0 0 0 0 0 7 734
Total operating income 102 970 83 578 55 623 36 825 0 47 812 326 808

*Includes Zaptec Netherlands BV in 2024

{25}------------------------------------------------

04 Highlights

05 Financial Summary

06 Market Development

07 Executing the strategy

10 Outlook

11 Financial Statements →

The table below shows the movement in deferred income during 2025.

Deferred income

31.12.2025

In NOK 1000

Opening balance 87 853
Movement 14 708
Closing balance 102 561

Note 6 - Financial income and expense

Full year
In NOK 1000 2025 2024
Finance income
Other finance income 1 369 2 764
Foreign currency gain 2 780 0
Total finance income 4 149 2 764
Finance expense
Interest on debts and borrowings 1 648 11 366
Interest from leases 2 482 2 442
Other finance expense 7 433 12 597
Foreign currency loss 8 746 447
Total finance expense 20 310 26 851

Note 7 - Income tax

The tax expense is calculated as 22% of the profit (+)/loss (-) before tax adjusted for items that will impact the effective tax rate. The calculation for the twelve month period ended 31.12.2025 follows:

Full year
In NOK 1000 2025 2024
Profit (+)/loss (-) before tax 69 668 -2 768
Adjustment for losses not recognised as
deferred tax asset		 -258 -342
Difference in tax rates 18 207 2 048
Non deductible share based payment
arrangement		 0 5 869
Not taxable income -11 386 3 191
Other differences -4 508 -5 869
Estimated basis for tax expense 71 724 2 129
Tax expense
22%
15 779
468
-------------------------------------

Deferred tax asset is not recognized for losses generated in jurisdiction where the group has not yet identified convincing evidence of future taxable income.

{26}------------------------------------------------

Note 8 - Intangible and Tangible Assets, Including Right-of-Use Assets

31.12.2025

In NOK 1000 Goodwill Intangible
asset		 Property,
plant and
equitpment		 Right of use
assets		 Total
Opening balance 81 734 101 930 14 490 41 079 239 233
- Amortisaton and depreciation 0 -22 503 -6 114 -9 035 -37 653
- Impairment 0 -5 561 0 0 -5 561
+ Purchases and new leases 0 45 131 2 033 15 480 62 644
- Disposals 0 0 0 0 0
+/- Foreign currency effects 1 197 -461 150 99 985
Closing Balance 82 931 118 536 10 559 47 623 259 648

In 2025 the Group recognised a full impairment of capitalised development costs related to DC charging technology of NOK 5.6 million, following updated strategic and commercial assessments, as future growth initiatives are expected to be driven by AC charging solutions.

Note 9 - Inventories

The inventory consists solely of finished goods (acquired goods produced for the Group for resale).

Total current purchase obligations of EV chargers from Westcontrol and Sanmina amounts to 301 MNOK from Q1 2026 to Q2 2026. A significant portion of the committed production may be postponed based on quarterly updated forecasts.

The Group has an inventory balance at the end of the fourth quarter of 222 MNOK versus 492 MNOK in the same period previous year. In 2025 0.1 MNOK of the inventory was identified as obsolete and written down to zero. The remaining stock consists only of current goods.

Note 10 - Trade receivables

Provision for credit losses is 6,2 MNOK at 31 December 2025 and 4 MNOK at 31 December 2024.

Note 11 - Other current assets

Breakdown of other current assets:
In NOK 1000 31.12.2025 31.12.2024
Loan to finance inventory* 6 585 43 569
VAT refund 0 19 203
Other 5 307 32 749
Total 11 893 95 521

* The Group has not identified any impairment indicators related to the loan to Sanmina.

Note 12 - Other non-current assets

Breakdown of other non-current assets
In NOK 1000 31.12.2025 31.12.2024
Investment in Switch EV Ltd.* 0 0
Other 521 392
Total 521 392

* The value of Swicth EV Ltd. has been written off to zero in 2024.

Note 13 - Provisions

The Group has a provision for warranty claims of 22 MNOK at period end.

{27}------------------------------------------------

Note 14 - Loans and borrowings

In NOK 1000 31.12.2025 31.12.2024
Start of period:
Non-current 0 0
Current 159 971 0
Total 159 971 0
Draw down on credit facility -159 971 159 971
Loans 0 0
Other changes 0 0
Net changes -159 971 159 971
End of period:
Non-current 0 0
Current 0 159 971
Total 0 159 971

The Group has an undrawn credit facility of 300 MNOK at period end. The interest rate is 5,95 % of drawn credit.

The terms are as follows:

  • Short term overdraft facility.
  • Annual maturity, will be renewed automatically when a credit rating is performed.

The financial covenants are as follows:

  • Overdraft shall not exceed 60% of the sum of external trade receivables (not older than 90 days), booked values of projects in progress, and inventory of finished goods. Monthly reporting based on group numbers. Overdraft above this limit will be deemed a breach of covenant.
  • The lender shall approve any new owners with controlling influence and/or if the company is taken of the stock exchange.
  • IP-rights shall not be transferred or sold between the borrower and/or subsidiaries without approval from the bank.
  • The Group's patents and other IP-rights shall not be pledged or in any other way be put as security in advantage for other creditors of the group.
  • Cash deposits for the whole Group and available cash liquidity on the credit facility, shall at a minimum be 50 MNOK at each monthly reporting.
  • Dividend from Zaptec ASA to be approved by the bank and Eksfin
  • The borrower shall not produce coal or sell/produce coal.
  • The borrower shall ensure that not any subsidiary are pledging shares or other activa without written approval from the lender.

The Group has complied with all covenants as at, and for the twelve months ended 31 December 2025.

Security:

  • First priority pledge in inventory, accounts receivables and machinery/equipment in Zaptec ASA. Face value of 350 MNOK of each pledged item.
  • Pledge in inventory, trade receivables and machinery/equipment in Zaptec Charger AS. Face value of 350 MNOK of each pledged item.

Apart from transaction with key management and board members included in Note 7 there are no transactions with related parties.

{28}------------------------------------------------

Note 15 - Other current liabilities

Breakdown of other current liabilities:
In NOK 1000 31.12.2025 31.12.2024
VAT -10 468 16 187
Accrued expenses 30 957 -28 830
Public taxes 17 967 20 726
Holiday pay 16 108 13 362
Other 13 520 43 820
Total 68 084 65 264

Note 16 - Events after the reporting date

There have been no events after the reporting date of significance that would require disclosure or adjustment in the financial statement.

End of financial statement

Alternative Performance Measures

Zaptec may disclose alternative performance measures as part of its financial reporting as a supplement to the financial statements prepared in accordance with IFRS. Zaptec believes that the alternative performance measures provide useful supplemental information to management, investors, security analysts and other stakeholders and are meant to provide an enhanced insight into the financial development of Zaptec's business operations and to improve comparability between periods.

Available Liquidity

Cash, cash equivalents, other funds (financial investments) and available overdraft facility. The Group has presented this APM because it considers it to be an important supplemental measure for investors to understand the overall picture of the Group's financial position.

Gross Margin

Gross profit as a percentage of revenues. Gross profit is defined as revenues from contracts with customers less cost of goods sold. The Group has presented this APM because it considers it to be an important supplemental measure for investors to understand the profit generation in the Group's operating activities.

EBITDA

The profit/(loss) for the period before tax expense, finance expense, finance income and depreciation and amortisation expense. The Group has presented this APM because it considers it to be an important supplemental measure for investors to evaluate the operating performance of the Group.

EBITDA Margin

EBITDA as a percentage of revenues. The Group has presented this APM because it considers it to be an important supplemental measure for investors to understand to evaluate the operating performance of the Group.

OPEX

Employee benefit expenses plus other operating expenses.

{29}------------------------------------------------

Disclaimer – forward looking statements

Cautionary Statement Regarding Forward-Looking Statements

In addition to historical information, this presentation contains statements relating to our future business and/or results. These statements include certain pro‑ jections and business trends that are "forward-look‑ ing." All statements, other than statements of his‑ torical fact, are statements that could be deemed forward-looking statements, including statements preceded by, followed by or that include the words "estimate," pro forma numbers, "plan," project," "fore‑ cast," "intend," "expect," "predict," "anticipate," "be‑ lieve," "think," "view," "seek," "target," "goal", "outlook" or similar expressions; any projections of earnings, revenues, expenses, synergies, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations, including integration and any potential restructuring

plans; any statements concerning proposed new prod‑ ucts, services, developments or industry rankings; any statements regarding future economic conditions or performance; any statements of belief; and any state‑ ments of assumptions underlying any of the foregoing.

Forward-looking statements do not guarantee future performance and involve risks and uncertainties. Actual results may differ materially from projected results/pro forma results as a result of certain risks and uncertainties. Further information about these risks and uncertainties are set forth in our most recent annual report for the Year ending December 31, 2024. These forward-looking statements are made only as of the date of this press release. We do not undertake any obligation to update or revise the forward-look‑

ing statements, whether as a result of new informa‑ tion, future events or otherwise. The forward-looking statements in this report are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, man‑ agement's examination of historical operating trends, data contained in our records and other data available from Fourth parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies, which are impossi‑ ble to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.

{30}------------------------------------------------

Zaptec ASA P.O. Box 163 4068 Stavanger, Norway www.zaptec.com

More from Zaptec AS

Proxy Solicitation & Information Statement 2026
May 20
AGM Information 2026
May 20
Notice of Dividend Amount 2026
May 6
Interim / Quarterly Report 2026
May 6
Interim / Quarterly Report 2026
May 6
Earnings Release 2026
May 6
Annual Report 2026
Mar 25
Annual Report 2026
Mar 25
Report Publication Announcement 2026
Mar 25
Investor Presentation 2026
Feb 18
View all filings →