SCAPE TECHNOLOGIES A/S

Scape Technologies A/S is a robotics company whose main activities for years have been development and sale of standardized and modular picking systems. These are based on 3D computer vision combined with gripper technology and advanced robot control complemented with a series of hardware modules, which are part of the overall solution.

SCAPE systems are generally sold in partnership with systems integrators who are responsible for building and implementing systems into a customer’s production machinery. In connection with the run-in of the systems the Company provides a well-defined range of paid services, which ensure the high quality and reliability of the SCAPE system.

Description of material changes in activities and financesIn 2024 the Company secured additional financing through loans facilitated by Scape China at USD 1,92 mio. The Company needs further supply of capital for the continued operation and execution of the company's growth and development strategy.

In order to ensure flexibility in the capitalization of the company, it was approved on the extraordinary general assembly February 27, 2024 to renew the board's existing authorizations in the articles of association, so that the Board of Directors can carry out capital increases with up to nominal DKK 15,000,000 in the period until February 26, 2029. These planned capital increases have not yet been completed.…

Development in activities and financesThe company reached a revenue of DKK 4.5 million for 2024 and the operating loss for 2024 is DKK 11.5 million. ​By end of 2024 the company had contract work in progress of DKK 0.4 million to be implemented and booked as revenue in 2025. ​​Sales and revenue in 2024 was negatively impacted by prolonged and delayed investment decisions in the industrial market, primarily due to the German industry experiencing a decline in 2024, with a decline in industrial production and exports, as well as a technical recession. At the same time the company did maintain a relatively high investment in development causing an operating loss.

Based on the increased activity level in the company’s traditional markets combined with the new product introductions such as SCAPE CoCreator, SCAPE Scanners and SCAPE Workcells, the company is expecting a significant growth in revenues in 2025 and going forward.

We expect revenue within the interval of DKK 10 -12 million, and the result in the interval of a loss of DKK 2-5 million in 2025.

Profit/loss for the year in relation to expected developmentsIn relation to expected developments in 2024 the industry market decline were deeper and longer than expected which impacted the company’s sale of traditional SCAPE systems as well as new SCAPE products as the introduction of new products to the market took longer than anticipated by end of 2023.

As the Company is a development company, there is a natural uncertainty associated with the measurement of the Company’s completed development projects.

Management has made an impairment test for the completed development projects based on discounted cashflows. The expected cashflows generated are planned to be positive in 2026. The discount factor used for the impairment test is a market conform 20 % p.a.

The Company has deferred tax assets of DKK 24 mio. not recognized in the balance sheet as of 1. january 2024. Management expect that the deferred tax will be used when the company realizes profits in the future.

As the Company is a development company, there is a natural uncertainty associated with the measurement of the Company's completed development projects as described in Note 6 & 7.

Lease liabilities The company has entered into rent contracts with a yearly rent of tDKK 954, and a remaining lease obligation of tDKK 5.081, which will expire in 2029.

13 Assets charged and collateralThe Company's bank debt is secured on a company charge of a nominal amount of DKK 3,5 mio.

Other debt raised by the issuance of bonds is secured on a company charge of a nominal amount of DKK 6 mio. These securities comprises the assets below, stating the carrying amounts: DKK in thousands Intangible assets 9.060 Property, plant, and equipment 623 Inventories 1.697 Trade receivables 177