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before interest, taxes, depreciation and amortisation (EBITDA) Current liabilities other than provisions (venstre underskriver) (venstre underskriver) Current liabilities other than provisions Earnings before interest, taxes, depreciation and amortisation (EBITDA) EBITDA-margin (venstre underskriver) (venstre underskriver) (venstre underskriver) Profit before tax Fixed assets Profit before interest and tax (EBIT) Profit before tax Profit before interest and tax (EBIT) Non-current liabilities other than provisions Non-current liabilities other than provisions Earnings before interest, taxes, depreciation and amortisation (EBITDA) Earnings before interest, taxes, depreciation and amortisation (EBITDA) Earnings before interest, taxes, depreciation and amortisation (EBITDA) Profit before interest and tax (EBIT) Profit before interest and tax (EBIT) Profit before interest and tax (EBIT) Share capital Profit before tax Profit before tax Profit before tax Fixed assets Fixed assets Fixed assets Fixed assets Non-fixed assets Non-fixed assets Non-fixed assets Non-fixed assets Non-fixed assets Share capital Share capital Share capital Share capital Non-current liabilities other than provisions Non-current liabilities other than provisions Non-current liabilities other than provisions Current liabilities other than provisions Current liabilities other than provisions Current liabilities other than provisions EBITDA-margin EBITDA-margin EBITDA-margin EBITDA-margin Årsrapport 30700228 EY Godkendt Revisionspartnerselskab Værkmestergade 25 Postboks 330, 8100 Aarhus C 2025-01-01 2025-12-31 2024-01-01 2024-12-31 21662534 Kitron A/S Ane Staunings Vej 21C 8700 Horsens, Denmark 1998-12-21 Horsens 76251000 76251010 www.kitron.com (venstre underskriver) PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab 33771231 33771231 Herredsvej 32 Herredsvej 32 7100 Vejle 7100 Vejle Danmark Danmark 79212700 79212700 2026-06-29 Hanne Merete Thorborg Regnskabsklasse C, stor virksomhed Revisionspåtegning Grundlag for konklusion Konklusion 2026-06-29 2026-06-29 CaseWare Working Papers Today, the Board of Directors and the Executive Board have discussed and approved the annual report of Kitron A/S for the financial year 1 January - 31 December 2025. The annual report is prepared in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the financial position of the Company at 31 December 2025 and of the results of the Company's operations for the financial year 1 January - 31 December 2025. Further, in our opinion, the Management's review gives a fair review of the matters discussed in the Management's review. We recommend that the annual report be approved at the annual general meeting. Horsens Jimi Klitholm Sandgreen Hans Petter Thomassen Chairman Mona Cathrin Nylander Deputy Chair Hasse Faxe Henning Dahlen Steen Moeskjær Jensen Employee representative Maibrit Lindgaard Paulsen Employee representative To the shareholders of Kitron A/S We have audited the financial statements of Kitron A/S for the financial year 1 January - 31 December 2025, which comprise an income statement, balance sheet, statement of changes in equity and notes, including accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act.In our opinion, the financial statements give a true and fair view of the financial position of the Company at 31 December 2025, and of the results of the Company's operations for the financial year 1 January - 31 December 2025 in accordance with the Danish Financial Statements Act. We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements 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 believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.IndependenceWe are independent of the Company in accordance with the International Ethics Standards Board for Accountants' International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. Management is responsible for the preparation of financial statements that give a true and fair view in accordance 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 continue 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 liquidate the Company or to cease operations, or has no realistic alternative but to do so. Our objectives are to obtain reasonable assurance as to 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, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement 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 or error, 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.Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management.Conclude on the appropriateness of Management's use of the going concern basis of accounting in preparing the financial statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.Evaluate the overall presentation, structure and contents of the financial statements, including the note disclosures, and whether the financial statements represent the underlying transactions and events in a manner that 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. Management is responsible for the Management's review.Our opinion on the financial statements does not cover the 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 the Management's review and, in doing so, consider whether the Management's review is materially inconsistent with the financial statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated.Moreover, it is our responsibility to consider whether the Management's review provides the information required under the Danish Financial Statements Act.Based on the work we have performed, we conclude that the Management's review is in accordance with the financial statements and has been prepared in accordance with the requirements of the Danish Financial Statement Act. We did not identify any material misstatement of the Management's review. Trekantsområdet Henrik Forthoft Lind Morten Elbæk Jensen State Authorised Public Accountant mne34169 State Authorised Public Accountant mne27737 695462000 1175712000 734558000 71789000 114500000 61286000 33317000 18416000 44018000 79345000 36787000 33590000 70136000 27580000 25473000 11508000 37538000 73903000 31301000 116256000 -2458000 3848000 -1831000 -2773000 141729000 9050000 41386000 72071000 28527000 31892000 55857000 21950000 128948000 123437000 119443000 157072000 111810000 287044000 203251000 252029000 381420000 299358000 371472000 538492000 411168000 13090000 8201000 8564000 11789000 6965000 7634000 7634000 7634000 7634000 7634000 197663000 184366000 128060000 5566000 5758000 5809000 5693000 45699000 174546000 137772000 168000000 348433000 237409000 12.8 12.0 10.3 9.7 8.3 10.2 4.6 6.3 6.7 5.0 56.7 56.1 53.2 34.2 31.1 63.3 2.9 16.7 35.8 18.8 The financial ratios stated under "Financial highlights" have been calculated as follows:Operating profit/loss Profit/loss before net financials +/- Other operating income and other operating expensesGross margin Gross profit/loss x 100RevenueEBITDA-margin Earnings before interest, taxes and amortisations (EBITDA) x 100RevenueEquity ratio Equity, year-end x 100Total equity and liabilities, year-endReturn on equity Profit/loss after tax x 100Average equity ReportKitron A/S is a provider of full range Electronics Manufacturing Services (EMS) which comprise development, production and sales of electronics and EMS solutions. The company, Kitron A/S is headquartered in Horsens, Denmark, where production also takes place. Furthermore, the Group has six subsidiaries – two in China, Kitron Electronics Manufactoring (Suzhou) Co. Ltd. and Kitron Electromechanical (Suzhou) Co. Ltd., two in Czech, Kitron Holding Czech a.s. and Kitron Czech a.s., one in Denmark, Kitron India ApS, and another in India. There are production sites in Denmark, China, India and Czech. 2025 was a year marked by both significant transformation and important milestones for Kitron A/S. Building on the strategic initiatives begun in recent years—including the integration into the Kitron Group and the successful launch of IFS ERP system in December 2024—the company continued to strengthen its operational foundation amid ongoing geopolitical uncertainty and fluctuating customer demand. Despite challenging market conditions, Kitron A/S maintained a stable order backlog across all sectors, supported by long-term customer relationships and the flexibility of our production setup. The strategic actions taken in 2024 and early 2025 to optimize cost, enhance efficiency, and secure competitiveness have started to take effect and will continue into 2026.Implementation of ISO 27001In 2025, Kitron A/S successfully completed the implementation and certification of the ISO 27001 information security management standard. This initiative reinforces the Group’s established commitment to data ethics, GDPR compliance, and responsible handling of information across the organization, as outlined in its existing frameworks. Achieving ISO 27001 certification ensures a stronger and more structured approach to safeguarding customer data, securing internal systems, and mitigating risks associated with increasingly complex digital and cyber environments. This certification complements our existing IT and GDPR policies and supports customers’ growing expectations for security in Electronics Manufacturing Services.50-Year AnniversarySeptember 2025 marked a major milestone: the 50th anniversary of Kitron A/S in Denmark.The anniversary was celebrated with employees, partners, and key stakeholders, honoring five decades of Danish electronics manufacturing, innovation, and customer collaboration. The event provided an opportunity to reflect on the company’s history—while also reinforcing our long-term commitment to investing in people, technology, and sustainable growth.The celebration highlighted the dedication of our workforce, whose development and retention continue to be a strategic focus for the Group.Financial DevelopmentThe sales for 2025 were DKK 326 million, which is a decrease of 19% compared to 2024 (DKK 404 million), this is also lower than the expectations for 2025. The revenue was heavily effected by the situation of tariffs in US and a customer decomitting on a large order with a very short time horizon in 2025. Profit after tax was DKK 132 million which was DKK 5 million in 2024. Profit is higher than expected due to received dividents from group enterprises. At the end of the financial year the balance sheet for Kitron A/S was DKK 416 million compared with DKK 327 million in 2024. Equity as of 31 December 2025 ammounted to DKK 236 million (2024: DKK 183 million).InvestmentsInvestments in 2025 followed the company’s strategy of renewing technology and strengthening manufacturing capabilities, consistent with the approach taken in 2024 to support a broad range of customer needs and ensure competitive production costs. The year's investments were focused on:Continued modernization of production equipmentEnhancements of cybersecurity and IT infrastructure aligned with ISO 27001Strengthening capabilities linked to high-mix, low-volume manufacturingDividendsIn 2025 DKK 80 million dividends has been paid. DKK 40 million has been proposed as divident for the financial year of 2025. No recognition and measurement uncertainties have been identified in the annual report. Kitron A/S centrally manages the Group's financial risks and coordinates the Group's liquidity management, including funding and placement of surplus liquidity. Kitron A/S operates with a low risk profile, meaning that currency, interest rate and credit risks only occur based on commercial factors. The majority of customers as well as inventory are guaranteed via external credit insurance, however some large groups are not insured via external credit insurance due to their risk profile. Where deemed appropriate to reduce financial risk, financial instruments in the form of forward contracts and interest rate swaps are included. Business risksThe primary business risk faced by Kitron A/S is the continued ability to deliver good service and produce quality at competitive prices.Management regularly evaluates whether Kitron A/S has an ample capital structure, and the Board regularly evaluates whether the capital basis is in keeping with the company's interests and those of its stakeholders. The overall goal is to ensure a capital structure that will support long-term financial growth. In 2025, the company maintained its focus on the competitive situation. The staff of the full-time employees is end of the year 145. To continually be able to deliver and develop competitive products and solutions, it is paramount that the Group can retain and develop employees so that they have the best possible skill set for performing in their job. Consequently, our HR department works with a strategic perspective focusing on goal-oriented work with attraction, development, and job satisfaction amongst the staff. ResponsibilityThe Group's CSR efforts are described in the annual report for 2025 prepared by Kitron ASA. The report complies with the Danish Financial Statements Act section §99b. The annual report is available at: https://sanoekitroncomprod.blob.core.windows.net/storage-prod/public/files/Annual-Reports/Kitron%20Annual-Report%202025.pdfWhistle blowers Employees at Kitron A/S can contact an external company anonymously if there should be events that they wish to report. There were no such contacts made under this arrangement in 2025. With a stabilized order backlog and strategic initiatives underway, Kitron A/S enters 2026 with cautious optimism. The company expects moderate growth driven by new customer opportunities, technology investments, and improved operational efficiency.With a stabilized order backlog and strategic initiatives underway, Kitron A/S enters 2026 with cautious optimism. The company expects moderate growth driven by new customer opportunities, technology investments, and improved operational efficiency.The expected revenue for 2026 is between DKK 360-380 million and the expected result after tax is in the range of DKK 21-23 million before divident from subsidiaries. The Company's policy on data ethics is integrated into the IT policy and GDPR set-up. The focus and handling of data ethics is handled through the following:The IT Policy, which contains requirements for employees regarding the handling of IT systems and data in the Company.The Group's GDPR set-up, which supports the legislation's requirements for GDPR, including data collection and processing, data subjects' rights, and that there are requirements for subcontractors' use of data processing agreements.The Group continuously educates employees in data ethics by continuously updating and informing employees about the above.The Board of Directors is responsible for continuously, and at least once a year, assessing whether the policy on data ethics needs to be updated. The Executive Board is responsible for ensuring that the policy is implemented in the day-to-day operations of the Company. No events materially affecting the Company's financial position have occurred subsequent to the financial year-end. 325665000 403970000 283966000 355557000 41699000 48413000 13782000 16373000 20132000 29092000 17942000 8616000 254000 56000 25473000 11508000 116315000 0 7431000 846000 7490000 3304000 141729000 9050000 9007000 3555000 132722000 5495000 658000 325000 658000 325000 25545000 19747000 50000 95000 1504000 2127000 27099000 21969000 96457000 96457000 2506000 2506000 2228000 2180000 101191000 101143000 128948000 123437000 85804000 99716000 9939000 4558000 16111000 17082000 111854000 121356000 40581000 48721000 17939000 6944000 1702000 1742000 1477000 2276000 50000 696000 2491000 2363000 64240000 62742000 110950000 19153000 287044000 203251000 415992000 326688000 7634000 7634000 188246000 95524000 40000000 80000000 235880000 183158000 5566000 5758000 5566000 5758000 292000 0 47013000 58883000 49916000 58488000 68903000 7034000 8422000 13367000 174546000 137772000 180112000 143530000 415992000 326688000 7634000 170029000 20000000 -74505000 80000000 0 20000000 7634000 95524000 80000000 92722000 40000000 0 80000000 7634000 188246000 40000000 The annual report of Kitron A/S for 2025 has been prepared in accordance with the provisions in the Danish Financial Statements Act applying to large reporting class C entities. In accordance with section 112(1) of the Danish Financial Statements Act, the Company has not prepared consolidated financial statements. The Group financial statements are prepared by the parent company Kitron ASA. With reference to section 86(4) of the Danish Financial Statements Act, no cash flow statement is prepared for the parent company, as its cash flows are reflected in the consolidated cash flow statement. Reporting currencyThe financial statements are presented in Danish kroner (DKK'000). Foreign currency transactions throughout the year have been converted to the rate in force on the transaction date. Gains and losses arising between rates on transaction and payment days are recognised in the income statement under financial items.Receivables, liabilities and other monetary items in foreign currencies are converted to the rate on the reporting date. The exchange rate difference between the reporting date and transaction date is included in the income statement under financial items. On initial recognition, derivative financial instruments are recognised at cost in the balance sheet and are subsequently measured at fair value. Positive and negative fair values of derivative financial instruments are presented as separate items in the balance sheet.Changes in fair value of derived financial instruments classified as and which satisfy the conditions for securing the fair value of an included asset or an included liability are recognised in the income statement together with any changes in the fair value of the secured asset or the secured liability. Changes in fair value of derivative financial instruments classified as and which satisfy the conditions for securing expected future transactions regarding purchases and sales in foreign currencies are included under other receivables or other liabilities and in equity. If the expected future transaction leads to recognition of assets or liabilities, amounts deferred under equity are transferred from equity and recognised in the cost of the asset or liability. Amounts deferred under equity are transferred to the income statement for the period in which the secured item affects the income statement. The Company has chosen IAS 11/IAS 18 as interpretation for revenue recognition.Net sales from the sale of goods and manufactured products is recognised in the income statement, provided delivery and risk transferral to the buyer has taken place before the end of the year. Net sales are recognised exclusive of value added tax, other taxes and sales-related discounts. Production costs comprise costs incurred in generating the revenue for the year. Such costs include direct and indirect costs of raw materials, consumables and production staff, rent and leases, as well as depreciation on production plant. Distribution costs comprise costs related to the distribution of goods sold in the year and to sales campaigns, etc. carried out in the year, including costs related to sales staff, advertising, exhibitions and amortisation/depreciation. Sales and marketing costs are recognised in the income statement when the Company obtains control of the sales or marketing product. Administrative expenses include expenses incurred in the year for company management and administration, including expenses relating to administrative staff, Management, office premises and expenses as well as amortisation/depreciation of assets used for administrative purposes. Other operating income comprise items secondary to the principal activities of the Company, including invoiced IT-costs to subsidiaries, royalties regarding sales of assets and profit from sales of non-current assets. The item comprises amortisation/depreciation of intangible assets and property, plant and equipment.The basis of amortisation/depreciation, which is calculated as cost less any residual value, is amortised/depreciated on a straight line basis over the expected useful life. The expected useful lives of the assets are as follows:Software 5 years Plant and machinery 5-8 yearsOther fixtures and fittings 3-8 yearsLeasehold improvements 5 years Depreciation is based on the residual value of the asset and is reduced by impairment losses, if any. The depreciation period and the residual value are determined at the acquisition date and are reassessed annually. Where the residual value exceeds the carrying amount of the asset, no further depreciation charges are recognised.In the case of changes in the depreciation period or the residual value, the effect on the depreciation charges is recognised prospectively as a change in accounting estimates. Other operating expenses comprise items of a secondary nature relative to the Company's core activities, including losses on the sale of fixed assets. Financial income and expenses are recognised in the income statement at the amounts that relate to the financial reporting period. The items comprise interest income and expenses, e.g. from group entities, dividends, financial expenses relating to realised and unrealised capital gains and losses relating to exchange gains and losses and amortisation of financial assets and liabilities. The tax for the year consists of the current corporate tax and changes in deferred tax for the year due to changes in the tax rate and is recognised in the income statement as the part directly associated with the profit or loss for the year, while tax directly relating can be attributed to items recognised directly in equity. Software is calculated at cost less accumulated amortisation. Software is amortised over the estimated useful life, but not more than 5 years. Property, plant and equipmentItems of property, plant and equipment are measured at cost less accumulated depreciation and impairment losses. Cost includes the acquisition price and costs directly related to the acquisition until the time at which the asset is ready for use.Gains or losses are calculated as the difference between the selling price less selling costs and the carrying amount at the date of disposal. Gains and losses from the disposal of property, plant and equipment are recognised in the income statement as other operating income or other operating expenses. Investments in subsidiaries are measured at cost. Dividends received that exceed the accumulated earnings in the subsidiary during the period of ownership are treated as a reduction in the cost of acquisition. Further dividends are recognised in the profit and loss accounts. The carrying amount of intangible assets, property, plant and equipment and investments in subsidiaries is assessed for impairment on an annual basis.Impairment tests are conducted on assets or groups of assets when there is evidence of impairment. The carrying amount of impaired assets is reduced to the higher of the net selling price and the value in use (recoverable amount). The recoverable amount is the higher of the net selling price of an asset and its value in use. The value in use is calculated as the present value of the expected net cash flows from the use of the asset or the group of assets and the expected net cash flows from the disposal of the asset or the group of assets after the end of the useful life.Previously recognised impairment losses are reversed when the reason for recognition no longer exists. Inventories are calculated at cost based on the FIFO principle. Where cost is higher than the fair value less costs to sell, the value is written down.Cost for goods, raw materials and consumables are recognised at the purchase price plus delivery costs.Cost for finished goods and goods-in-process include cost for raw materials, consumables, direct salaries and indirect production costs. Indirect production costs include indirect materials and salaries, maintenance of and depreciation on machines and equipment used in production, and factory administration and management costs.The fair value less costs to sell for inventories is calculated as the sales price excluding costs of completion and costs related to achieving sales, and is established with due consideration of merchantability, obsolescence and development in expected sales price. The Company has chosen IAS 39 as interpretation for impairment write-down of financial receivables.Receivables are measured at amortised cost and reduced by write-downs for bad debt risk of expected losses according to an individual assessment. Prepayments recognised under "Assets" comprise prepaid expenses regarding subsequent financial reporting years. Proposed dividendsDividend proposed for the year is recognised as a liability once adopted at the annual general meeting (declaration date). Dividends expected to be distributed for the financial year are presented as a separate item under "Equity". Dividend proposed for the year is recognised as a liability once adopted at the annual general meeting (declaration date). Dividends expected to be distributed for the financial year are presented as a separate item under "Equity". Current tax payables and current tax receivables are recognised in the balance sheet as estimated tax on the taxable income for the year, adjusted for tax from the previous year’s taxable income and tax paid on account.Deferred tax is calculated using the balance sheet liability method on all temporary differences between the carrying amount and the tax base of assets and liabilities. Where alternative tax rules can be applied to determine the tax base, deferred tax is measured based on Management's intended use of the asset or settlement of the liability, respectively.Deferred tax assets, including the tax value of tax loss carryforwards, are recognised at the expected value of their utilisation; either as a set-off against tax on future income or as a set-off against deferred tax liabilities. The Company has chosen IAS 39 as interpretation for liabilities.Financial liabilities are recognised at the date of borrowing at the proceeds received less transaction costs paid. In subsequent periods, financial liabilities are recognised at amortised cost corresponding to the capitalised value using the effective interest rate. Accordingly, the difference between the proceeds received and the nominal value is recognised in the income statement throughout the loan period.Other liabilities, including payables to suppliers, group entities and other payables are calculated at amortisised cost essentially net realisable value. Sales are specified in geographic markets. Information about geographic markets is based on revenue and risk based on the internal financial reports. No events materially affecting the Company's financial position have occured subsequent to the financial year-end. Breakdown of revenue by geographical segment: Denmark296,457346,994Other countries29,20856,976 325,665 403,970 6830000 8591000 11083000 0 29000 25000 Audit fees are not disclosed with reference to section 96(3) of the Danish Financial Statements Act. The fee is specified in the consolidated financial statements for Kitron ASA. 136000 103000 4919000 0 2376000 743000 2954000 0 4536000 3304000 8967000 3061000 40000 494000 40000000 80000000 92722000 -74505000 11548000 604000 833000 11319000 11223000 271000 833000 10661000 658000 65084000 5279000 8308000 13090000 0 0 30807000 1308000 2169000 47367000 3971000 6139000 45337000 5184000 6181000 6906000 45000 623000 30421000 1308000 2169000 21822000 3921000 4635000 25545000 50000 1504000 96457000 2506000 2180000 0 0 48000 96457000 2506000 2228000 96457000 2506000 2228000 Kitron Electronics Manufactoring (Suzhou) Co. Ltd. China 100.00 119287 25476 Kitron Electromechanical (Suzhou) Co. Ltd China 100.00 3718 -254 Kitron Holding Czech a.s. Czech Republic 100.00 20421 257 Kitron Czech a.s. Czech Republic 100.00 158677 50274 Kitron India ApS Denmark 100.00 -29 -6 Kitron India Services Private Ltd India 100.00 1434 2408 Prepayments consist of rent, insurance premiums, subscriptions and interest. As of 31 December 2025, equity consisted of 76,340 shares of DKK 100 each. The share capital has remained unchanged for the past 5 years. -1742000 -2236000 -1702000 -1742000 The deferred tax asset primarily relates to tangible fixed assets and is expected to be realized within a relatively short period under normal operating conditions. 5858000 292000 5566000 4633000 Payments due within 1 year are recognised under current liabilities. The outstanding non-current liabilities 5 years after the reporting date is DKK 4,633 thousand. 61730000 68843000 7309000 6698000 1949000 1428000 70988000 76969000 Staff costs are recognised as follows in the financial statements: Production costs47,87649,729 Distribution costs14,59813,534 Administrative expenses8,51413,706 70,988 76,969 135 161 By reference to section 98b(3), (ii), of the Danish Financial Statements Act, remuneration to Management is not disclosed. Other contingent liabilities Kitron A/S’ insurance coverage of receivables from sales of goods and services has been provided as security to the Company's banks. A company charge security for DKK 80,000 thousand and shares in Kitron Holding Czech a.s. Kitron Czech a.s. has been provided as security for payables to credit institutions. The Company has agreed with the bank, that it is not allowed to pledge assets without prior approval. Kitron A/S is jointly taxed with its parent company and the other danish companies in the group. The Company is jointly liable with the danish companies in the group for Danish corporate tax within the tax group. The Parent Company has given letters of support in favor of the subsidiary Kitron India ApS, in which the company declares that it will provide the necessary liquidity to secure ordinary day-to-day operations for the subsidiaries up to and including the date of approval of the annual report of 2026. The Company has entered operating lease liabilities with payments in the non-cancellation period totaling DKK 232 thousand (2024: DKK 480 thousand). The leasing contracts have non-cancellation periods of up to 14 months. The rental contracts are not subject to cancellation until 30 June 2027, after which it can be terminated with 12 months’ notice. The annual rent is DKK 3,465 thousand (2024: DKK 3,277 thousand). Related party transactions Kitron A/S was engaged in the below related party transactions: DKK'00020252024Purchase of finished goods049,545Sales of finished goods and components6,8435,193Sales of IT services6,82910,448Interest income from loans136103Interest expences from loans2,9530Intercompany receiveables (non-current)2,5062,506Purchases of services21,0760Intercompany receiveables (current)17,9396,944Royalties received11,0830Intercompany payable68,9037,034 Divident received116,3150Divident paid80,0000 Ownership NameDomicile Kitron ASA (Ultimate parent)Plan 2 Olav Brunborgs vei 4 1396 BILLINGSTAD Norge The financial report for Kitron ASA 2025, is to be downloaded at www.Kitron.com/investors#annual-reports. Kitron Holding A/S Denmark Ane Staunings Vej 21C 8700 Horsens Denmark