41903058 2024-01-01 2024-12-31 41903058 2024-01-01 2024-12-31 1 41903058 2024-01-01 2024-12-31 1 41903058 2024-01-01 2024-12-31 2 41903058 2023-01-01 2023-12-31 41903058 2024-12-31 41903058 2023-12-31 41903058 2023-12-31 fsa:ContributedCapitalMember 41903058 2023-12-31 fsa:RetainedEarningsMember 41903058 2024-01-01 2024-12-31 fsa:ContributedCapitalMember 41903058 2024-01-01 2024-12-31 fsa:RetainedEarningsMember 41903058 2024-12-31 fsa:ContributedCapitalMember 41903058 2024-12-31 fsa:RetainedEarningsMember iso4217:DKK xbrli:pure Morten Olsen AIP II CIV 3 K/S Klareboderne 1 1115 København K 41903058 Copenhagen Strandvejen 44 2900 Hellerup MANAGEMENT REVIEW Primary activities The Company’s main activity is to generate returns on limited partnership capital by making investment in infrastructure assets. The Executive Board have today considered and approved the annual report of AIP II CIV 3 K/S for the finan-cial year 1 January – 31 December 2024. The Annual Report is prepared in accordance with the Danish Financial Statements Act. In my opinion, the Financial Statements give a true and fair view of the financial position at 31 December 2024 of the Company and of the results of the Company operations for the financial year 1 January – 31 De-cember 2024. In my opinion, Management's Review includes a true and fair account of the matters addressed in the Review. I recommend the annual report for adoption at the Annual General Meeting. Copenhagen, Kasper Hansen To the Shareholders of AIP II CIV 3 K/S In our opinion, the Financial Statements give a true and fair view of the financial position of the Company at 31 December 2024, and of the results of the Company’s operations for the financial year 1 January - 31 De-cember 2024 in accordance with the Danish Financial Statements Act. We have audited the Financial Statements of AIP II CIV 3 K/S for the financial year 1 January - 31 December 2024, which comprise income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies (“financial statements”). We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional re-quirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the International Ethics Standards Board for Account-ants’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical re-quirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Management is responsible for Management’s Review. Our opinion on the financial statements does not cover Management’s Review, and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read Management’s Review and, in doing so, consider whether Management’s Review is materially inconsistent with the financial state-ments or our knowledge obtained during the audit, or otherwise appears to be materially misstated. Moreover, it is our responsibility to consider whether Management’s Review provides the information re-quired under the Danish Financial Statements Act. Based on the work we have performed, in our view, Management’s Review is in accordance with the Financial Statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement in Management’s Review. Management is responsible for the preparation of Financial Statements that give a true and fair view in ac-cordance with the Danish Financial Statements Act, and for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, Management is responsible for assessing the Company’s ability to con-tinue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the financial statements unless Management either intends to liqui-date the Company or to cease operations, or has no realistic alternative but to do so. Our objectives are to obtain reasonable assurance about whether the financial statements 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 and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, indi-vidually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Den-mark, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:  Identify and assess the risks of material misstatement of the financial statements, whether due to fraud orerror, design and perform audit procedures responsive to those risks, and obtain audit evidence that issufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material mis-statement 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 thatare appropriate in the circumstances, but not for the purpose of expressing an opinion on the effective-ness of the Company’s internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting esti-mates and related disclosures made by Management. Conclude on the appropriateness of Management’s use of the going concern basis of accounting in pre-paring the financial statements and, based on the audit evidence obtained, whether a material uncer-tainty exists related to events or conditions that may cast significant doubt on the Company’s ability tocontinue as a going concern. If we conclude that a material uncertainty exists, we are required to drawattention in our auditor’s report to the related disclosures in the financial statements or, if such disclo-sures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtainedup to the date of our auditor’s report. However, future events or conditions may cause the Company tocease to continue as a going concern. Evaluate the overall presentation, structure and contents of the financial statements, including the disclo-sures, and whether the financial statements represent the underlying transactions and events in a mannerthat gives a true and fair view.We communicate with those charged with governance 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. Hellerup PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab 33771231 Per Rolf Larssen Casper Larsen State Authorised Public Accountant State Authorised Public Accountant mne24822 mne45855 -16513 -16013 34136 44118 12117 13049 2949 1146 26791 40008 26791 40008 835906 659167 80967 45242 916873 704409 916873 704409 212295 395488 212295 395488 1129168 1099897 1052096 1052096 62697 35906 1114793 1088002 0 11875 14375 20 14375 11895 14375 11895 1129168 1099897 1052096 35906 1088002 0 26791 26791 1052096 62697 1114793 true The Financial Statements for 2024 are presented in DKK. Recognition and measurement Revenues are recognised in the income statement as earned. Furthermore, value adjustments of financial as-sets and liabilities measured at fair value or amortised cost are recognised. Moreover, all expenses incurred to achieve the earnings for the year are recognised in the income statement including depreciation, amortisa-tion, impairment losses and provisions as well as reversals due to changed accounting estimates of amounts that have previously been recognised in the income statement. Assets are recognised in the balance sheet when it is probable that future economic benefits attributable to the asset will flow to the Company, and the value of the asset can be measured reliably. Liabilities are recognised in the balance sheet when it is probable that future economic benefits will flow out of the Company, and the value of the liability can be measured reliably. Assets and liabilities are initially measured at cost. Subsequently, assets and liabilities are measured as de-scribed for each item below. Translation policies Transactions in foreign currencies are translated at the exchange rates at the dates of transaction. Exchange differences arising due to differences between the transaction date rates and the rates at the dates of payment are recognised in financial income and expenses in the income statement. Receivables, payables and other monetary items in foreign currencies that have not been settled at the bal-ance sheet date are translated at the exchange rates at the balance sheet date. Any differences between the exchange rates at the balance sheet date and the rates at the time when the receivable or the debt arose are recognised in financial income and expenses in the income statement. Fixed assets acquired in foreign currencies are measured at the transaction date rates. Income statement Gross profit/loss Gross profit/loss is calculated with reference to Section 32 of the Danish Financial Statements Act as a sum-mary of other external costs. Income from other investments and receivables classified as non-current assets In the income statement, dividends are recognized from other investments in the financial year in which the dividend is declared. Gains or losses on disposal during the year of investments in associates are also recog-nized in the income statement. Financial items Financial income and expenses include interest income and expenses, realized and unrealized gains and losses on debt, fair value of investments & loans and transactions in foreign currencies. Tax on profit/loss for the year The company is not taxable independently, which is why the tax liability is incumbent on the company’s inves-tors. As a result, no tax and deferred tax has been set aside in the accounts. Balance sheet Other investments Other investments are recognized and measured at cost. If there is an indication of a need for impairment, an impairment test is performed. Where the carrying amount exceeds the recoverable amount it is written down to this lower value. Other receivables Other receivables are measured at amortized cost, which usually corresponds to nominal value, less write-down for expected losses and including accrued interests. Cash Cash comprises cash in bank deposits. Equity Dividend distribution proposed by Management for the year is disclosed as a separate equity item. Other liabilities Other liabilities are measured at amortised cost, substantially corresponding to nominal value. true 0 0 Note 3: Financial assets (DKK) Other investments: Cost primo 659,167 538,240 Additions for the year 176,739 120,927 Cost ultimo 835,906 659,167 Other investments 835,906659,167Other receivables: Cost primo 45,242 0 Additions in the year 35,725 45,242 Cost ultimo 80,967 45,242 Other receivables 80,96745,242 Note 4: Contingent assets, liabilities and other financial obligations The company’s obligations to their investments are TDKK 647. Annual report Auditor's report on audited financial statements ParsePort XBRL Converter 2024-01-01 2024-12-31 2023-01-01 2023-12-31 2025-04-11 Reporting class B 2020-11-30 2025-04-11 39504308 AIP Management P/S Klareboderne 1 1115 København Opinion Basis for Opinion 2025-04-11 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup