FIRE EATER A/S

The Company’s principal activities comprise development and production of components for INERGEN fire suppression systems as well as sale, service, and installation of fire suppression systems for industry, data centres, technical installations, energy facilities, museums, military applications, offshore installations, high-bay warehouses, marine applications, and buildings deemed worth preserving.

The Company operates internationally with a strong position within specialized fire suppression solutions where reliability, certification, and technical know-how are key competitive parameters. The Company’s activities are supported by long-standing customer relationships, specialized engineering competencies, and continuous development of products and digital tools supporting customers and authorities.

The income statement of the Company for 2025 shows a profit of DKK 19,700,104, and at 31 December 2025 the balance sheet of the Company shows an equity of DKK 75,661,307.

During the year, the Company continued investments in commercial development, export activities, and digitalization initiatives supporting future growth. The overall activity level increased compared to prior years supported by continued demand across core export markets and selected strategic segments, also raising profitability including the continued investments in market expansion and organizational development.…

The Company expects continued activity growth in 2026 driven by increased penetration of existing markets and further expansion into selected export markets and selected segments.

For 2026, Management expects revenue growth in the range of 5-10%, supporting increased profitability. Earnings may be impacted by continued investments in commercial development, digitalization, and product capabilities and the Company expects profit before tax in the range of DKK 27-32 million.…

In 2025, the Company executed its planned investments in new export markets and increased activities in existing markets, which were expected to have a modest impact on profitability. Compared to last year, the profit before tax improved by DKK 2.4 million and is considered satisfactory in light of these investments and the expectations communicated in the 2024 Annual Report.

Foreign exchange risks

Foreign exchange risks primarily relate to the Company’s operating activities, where revenues and costs are denominated in currencies other than DKK. In addition, the Company is exposed to foreign exchange risks relating to intercompany balances as well as trade receivables and trade payables. The Company is primarily exposed to NOK, SEK and USD. As a result, profit, cash flows and equity are affected by fluctuations in exchange rates.

Research and development

The Company’s employees and technical competencies constitute a significant business resource and an important prerequisite for continued development and growth.…

There has been no uncertainty regarding recognition and measurement in the Annual Report.

The financial position at 31 December 2025 of the Company and the results of the activities of the Company for the financial year for 2025 have not been affected by any unusual events.

No events materially affecting the assessment of the Annual Report have occurred after the balance sheet date.

Rental and lease obligationsThe Company has total future lease payments of DKK 7,913 thousand relating to operating rental and lease agreements.

Other contingent liabilities…

Charges and securityThe following assets have been placed as security with bankers:

Intangible assets,…