INEOS Energy (Lulita) A/S — Financial report

CVR 67145313

Latest financial period

2025 • 2025-01-01 • 2025-12-31 • entity • DKK • 0 • -833000 • 305000 • 29195000 • 160744000 • 108582000 • 0

Financial history

2024 • 2024-01-01 • 2024-12-31 • entity • DKK • 0 • -573000 • -573000 • 2467000 • 133301000 • 79387000
2023 • 2023-01-01 • 2023-12-31 • entity • DKK • 0 • -1183000 • -1183000 • 634000 • 129480000 • 76920000
2022 • 2022-01-01 • 2022-12-31 • entity • DKK • 0 • -125000 • -125000 • 2568000 • 125955000 • 76287000
2021 • 2021-01-01 • 2021-12-31 • entity • DKK • 1109000 • 2081000 • 2081000 • 4354000 • 123774000 • 73718000
2020 • 2020-01-01 • 2020-12-31 • entity • DKK • 9313000 • 2549000 • 2549000 • -516000 • 121529000 • 69364000
2019 • 2019-01-01 • 2019-12-31 • entity • DKK • 13110000 • 15163000 • 2168000 • 83295000 • 128390000 • 69880000
2018 • 2018-01-01 • 2018-12-31 • entity • DKK • 9204000 • 6988000 • -26457000 • -26452000 • 40318000 • -13415000
2017 • 2017-01-01 • 2017-12-31 • entity • DKK • 14279000 • 8383000 • -5831000 • -3729000 • 66118000 • 13037000

Annual report highlights

primary activities • Business activitiesThe Company’s object is exploration and development of hydrocarbons as well as ancillary activities.The Company has an interest of 36.41% in the 1/90 and 7/86 Lulita license. The production consists primarily of oil.The Company is a 100% owned subsidiary of INEOS E&P A/S. • entity
management review • Business reviewProduction is currently shut in and, according to TotalEnergies, expected to restart in July 2026 following com-pletion of the Tyra Redevelopment Project which is a prerequisite for Lulita production to resume and ongoing work to handle production challenges in the Tyra processing train. Lulita license extension to 2035 was ap-proved in March 2026.The Company's income statement for the year ended 31 December shows a profit of DKK 29.2 million, and thebalance sheet at 31 December 2025 shows equity of DKK 108.6 millionThe result from the year is impacted by an adjustment of the deferred tax asset of DKK 28 million. It is the expectation that the deferred tax asset can be utilised in the joint Danish taxation.The production asset in 2025 is impacted by an adjustment of the decommissioning provision of DKK 1.6 mil-lion.Financial performance before tax matched expectation for 2025.Recognition and measurement uncertaintiesThe recognition of Deferred Tax, Fixed Assets (impairments) and decommissioning liabilities are all subject to a high degree of uncertainty due to the level and nature of assumptions made when estimating the outcome of subsequent events. The assumptions which would change future measurement includes: - General price development or development in market prices - Expected useful live of production assets - Weighted average cost of capital (WACC) and risk free rate - Exchange rates, etc. - Development of existing technologiesThe recognition and measurement of items in the financial statements is not subject to any other significant uncertainty. • entity
unusual matters • The Company's financial position at 31 December 2025 and the results of its operations for the financial yearended 31 December 2025 are not affected by any unusual matters. • entity
subsequent events • 9Subsequent eventsNo events have occurred after the balance sheet date that could significantly affect the Company's financial position. • entity
contingent liabilities • 10Contingent assets, liabilities and other financial obligationsINEOS Energy (Lulita) A/S has deferred tax assets of DKK 3,727 million (2024: DKK 3,725 million) that havenot been recognised and relate primarily to unutilised losses in hydrocarbon income. It is considered unlikely that these losses can be utilised in the foreseeable future.According to legislation, INEOS Energy (Lulita) A/S is liable to pay compensation for damage caused by its oil and gas activities, even where there is no proof of negligence (strict liability). The usual insurance has been taken out to cover any such claims. • entity