Noahs Global ApS

The company's primary activities comprise the development, operation and commercialization of the Noahs concept – a network of smart, data-driven kitchens built on Noahs' proprietary technological platform and brand univers. The Company develops both the hardware and software infrastructure supporting kitchen operations, brand consistency, and customer experience.

Furthermore, the Company establishes National License agreements with strategic partners in key markets, who are responsible for the local rollout and management of Master Franchise structures in their respective countries.

2.Uncertainty concerning recognition and measurementIn the financial statements for the financial year 01.05.24 - 30.04.25, management has identified an uncertainty related to recognition and measurement that has had a significant impact on the assets and liabilities in the financial statements.

The Company has recognized completed development projects with a carrying amount of DKK 6,019k and development projects in progress with a carrying amount of DKK 1,846k. The valuation is based on budgets for the financial years 2025/26 and 2026/27 and assumes improved earnings and cash flows from the Company's operations, including the conlusion of new customer agreements.

If the underlying assumptions and budgets are not achieved, the carrying amounts of the completed development projects and development projects in progress may be subject to impairment, which could affect the valuation. Management considers the assumptions to be reasonable and achievable but acknowledges that the uncertainty decribed above exists.

Other contingent liabilities

The company is taxed jointly with the other companies in the group and has joint, several and unlimited liability for income taxes for the jointly taxed companies. The liability also includes any subsequent corrections to the calculated tax liability as a consequence of changes made to the jointly taxable income etc.

The company has until 30 April 2026 expressed its commitment to ensuring that its subsidiary has sufficient liquidity to continue its operations and meet its obligations as they fall due.

16.Charges and securityAs security for debt to credit institutions of DKK 4,154k, a company charge has been provided of DKK 3,000k comprising intangible assets, other fixed assets, trade receivables, operating materials and inventory. The total carrying amount of the comprised assets is DKK 13,881k.