POLYTECH A/S

Polytech companies' develops and produces a wide portfolio of products and solutions supporting the global wind industry, onshore and offshore. Products are primarily sold to wind turbine manufacturers (OEMs), asset owners developers, distributors, and independent service providers.

Polytech companies' offers unique value propositions within the business line areas: Lightning Protection, Leading Edge Protection, Blade Monitoring, Transport Track & Protect, Blade Performance Upgrades, Test & Validation Services, and future development areas such as subsea solutions.

Development in activities and financial and economic position

The income statement for 2025 shows a profit of TEUR 15,777 and the balance sheet shows an equity at

TEUR 30,024. The development and result exceed the management's expectations. In China the 14th Five-Year Plan (2021-2025), provided a temporary market upturn.

Research and development activities

Innovation and development are key to Polytech, and during 2025 further activities took place regarding both continuous improvements of existing products as well as new products solutions. Consequently, high intellectual capital resources from employees are key to the performance of Polytech in the years to come.

Profit/loss for the year compared to the expected development

The overall explanation for the positive development compared to both last year and expectations in budget are the increase in external revenue across business lines and additionally higher intercompany sale to the subsidiary in China also related to the five-year plan mentioned above. The profit for the year is positively impacted by higher royalty and dividend from China compared to the expectation.

Significant events after the end of the financial year

No events have occurred after the end of the financial year of material importance for the Company's financial position.

Liabilities under rental or lease agreements until maturity constitutes of TEUR 406.

Joint liabilitiesThe Company is jointly and severally liable together with the Parent Company and the other group companies in the joint taxable group for tax on the group’s joint taxable income and for certain possible withholding taxes, such as dividend tax, etc.

Tax payable on the Group’s joint taxable income is stated in the annual report of Polytech Group ApS, which serves as management Company for the joint taxation.

16 | Charges and securities

The entity has secured its parent company's commitment with Nykredit Bank through a registered company charge of TEUR 28,521 nominal. The registrered company charge includes patents, goodwill, property, plant and equipment, inventories and trade receivables.

The carrying amount of pledged assets amounts to TEUR 23,294.