PHM Danmark ApS

The Company's activities consist of owning equity interests in other companies and any activity that, in the opinion of the management, is related thereto.

The Company's income statement for 2025 shows a loss of DKK 58,502,100 as against a loss of DKK 31,749,363 in 2024. Equity in the Company's balance sheet at 31 December 2025 stood at DKK 514,872,623 as against DKK -51,625,277 at 31 December 2024.

In the financial year, intercompany interest costs related to the debt conversion amounting to DKK 39.567.143 have been recorded. The costs belonging hereto is considered as a non recurring item which is not a part of the Group's ordinary financing. The costs are also disclosed as a special item in note 5 of the financial statement to which we refer.

Also, a capital increase has been recorded in the financial year amounting to DKK 625.000.000.

No events have occurred after the balance sheet date of material importance to the annual report for 2025.

Contingent liabilities, including guarantee commitments

PHM Danmark ApS is the administration Company. The Company is subject to the Danish scheme of joint taxation and unlimitedly, jointly, and severally liable, along with the other jointly taxed companies, for the total corporation tax.…