SCANSHIP HOLDING WKN: A111AY ISIN: NO0010708068 Kürzel: VOW Forum: Aktien Thema: Hauptdiskussion

Vow ASA: Record Q4 revenues and strategy revision concluded Oslo, 25 February 2026 – In the fourth quarter, Vow ASA (“Vow” or the “Group”) delivered all time high revenues and improved operational performance. Following the strategy revision, which was concluded in the period, the Group aims to reinforce its position in the Maritime Solutions and Aftersales segments, while a more selective approach will be adopted in the Industrial Solutions Segment. “The fourth quarter concludes a transitional year for Vow, involving thorough analysis and clear priorities to improve cost control, project execution and working capital. Following a revisit of our strategy, the Group will pursue a more selective approach in order to balance risk and opportunities in Industrial Solutions, while reinforcing our strong position in the Maritime Solutions and Aftersales segments," says CEO Gunnar Pedersen. Growth in all segments Revenues for the quarter came in at NOK 347.4 million, representing an increase of NOK 81.7 million from the same period in 2024. High activity in the cruise newbuild market and an increasing number of vessels in operations led to record revenues in both the Maritime Solutions and Aftersales segments. At the end of the year, total order backlog remains solid at close to NOK 1.7 billion. The order backlog provides good visibility and includes confirmed contracts for work extending to 2034. Key financials Marked profitability improvements across the Maritime Solutions and Aftersales segments were offset by a negative EBITDA result in Industrial Solutions, in line with the revised assumptions and plans communicated in the Q3 2025 reporting. In sum, adjusted EBITDA was NOK 15.8 million, compared with NOK 16.6 million in Q4 2024. As previously communicated, total non-cash impairments of NOK 119.3 million were recognised in the quarter, of which the majority was related to the Industrial Solutions segment, reflecting updated assumptions and a more cautious outlook. The liquidity position strengthened considerably over the period, and at year-end available liquidity was NOK 136.2 million. Cash available is expected to fluctuate over the coming quarters related to timing of deliveries and payment milestones, and cash management remains a key priority in 2026. Vow maintains a close and constructive dialogue with its financing partner, which has confirmed a covenant waiver for the reporting period ending 31 December 2025. Subsequent to the quarter the covenants for Q1 2026 were waived, and a new covenant structure for Q2 2026 and the following reporting periods were agreed. Strategy revision During the quarter, the revision of the Group’s strategy was concluded, resulting in the appointment of leadership with clearly defined P&L responsibility, performance targets and reporting requirements for each respective business segments. In terms of strategic priorities, the Group will continue to reinforce its position in the Maritime Solutions and Aftersales segments. The management continues to see significant long-term potential in Industrial Solutions, but is pursuing a more selective, risk-balanced approach in this business.