Interim report
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1NOS Nova Half-Yearly Report 2026 Half-Yearly Report 2026 Six months ended 30 June 2026 NOS Nova AS Formerly Horisont Energi AS https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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2NOS Nova Half-Yearly Report 2026 About NOS Nova 3 Financial Position 4 CEO Statement 5 Project Review 6 Intellectual Property Rights 12 Financial Statements 13 Notes to Financial Statements 17 Outlook 29 Responsibility Statement 30 Content https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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3NOS Nova Half-Yearly Report 2026 NOS Nova AS, formerly Horisont Energi AS, is a Norwegian company founded in 2019 to accelerate the transition to a carbon-neutral future. The company is headquartered in Sandnes, Norway. NOS Group AS became NOS Nova’s largest shareholder in September 2025 and currently holds 64.35% ownership. NOS Nova’s shares are listed on Euronext Growth under the ticker “NOSN”. The NOS Nova Group includes three subsidiaries: Horisont Infra AS (NOS CarbonGrid AS) for mid-stream CCS Infrastructure, Horisont Karbon AS for CO2 business and NOS Technology AS providing innovative engineering solutions. The NOS Nova Group began 2026 with a workforce of 25 employees. The number of technical employees working on CCS Infrastructure has been reduced during 2026, and the NOS Nova Group currently has 21 employees. About NOS Nova https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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4NOS Nova Half-Yearly Report 2026 • Total income of NOK 31.6 million in the first half of 2026, compared to NOK 1.0 million in the same period of 2025. • The operating loss narrowed to NOK 1.05 million from NOK 30.5 million in H1 2025, bringing the Group close to break-even at the operating level. The improvement reflects the earnings contribution from NOS Technology together with the effect of the cost reductions and reduced headcount carried out during 2025 and 2026. • Cash flow from operating activities improved by NOK 33.9 million year on year, to negative NOK 2.2 million in H1 2026 from negative NOK 36.1 million in H1 2025. NOS Technology generated positive operating cash flow in the first half of 2026. • Cash and equivalents at NOK 8.4 million compared to NOK 29.3 million in 2025. Financial Position NOK million H1 2026 Unaudited H1 2025 Unaudited Full Year 2025 Audited Total Income 31.60 1.00 8.15 Operating profit (loss) (1.05) (30.50) (46.04) Net financial Income (loss) (0.30) (3.76) (2.87) Net Profit (loss) (1.42) (34.22) (48.91) Cash/cash equivalents at the end of period 8.4 29.3 18.6 https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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5NOS Nova Half-Yearly Report 2026 The integration of NOS Technology has been a top priority during the first half of 2026. This includes the strengthening of the company’s management team to better support the organisation, and the implementation of new management processes with focus on project execution to further improve earnings. NOS Technology secured 34.4 MNOK in new contracts during the first six months of 2026. Focus is given on delivering quality products to our existing customers, while securing new customers to expand the company’s customer base and reduce market risk. We have been successful in our efforts, and a majority of our recent contracts are signed with new customers. A range of projects were finalised and handed over to our customers in this period, including a rocket launcher to Andøya Space, and several hose loading systems and equipment for well intervention operations to the oil and gas industry. CEO Statement In NOS CarbonGrid the option in our option agreement with Haugaland Næringspark to secure a plot in the park has been executed, and we are currently finalizing some details before the plot becomes under NOS Nova ownership. We have further continued our efforts to find commercial solutions for our Gismarvik CO2 terminal project in Haugaland Næringspark. This has proven to be challenging, and we have decided to pause our activity on the Gismarvik CO2 terminal project until the business environment for CCS has improved. The Company’s EXL003 CO2 storage license in the Barents Sea, Polaris, was relinquished upon expiry on 30 April 2026. The background for this was that NOS Nova does not have the required competency for progressing technical work on the licence and it has proven difficult to get a new license group in place. The Company’s portfolio has continued to expand and currently comprises of 58 patent applications across multiple jurisdictions, of which approximately 79% have been granted. NOS Nova engages with industry partners to explore potential collaboration and commercial opportunities related to the intellectual property portfolio. NOS Technology has tremendously improved the NOS Nova Group’s financial position, and the company continues its efforts to secure new contracts, increase its customer base and ‘work smarter’ to improve earnings while delivering quality projects. Contracts being secured during the last months of 2026 will also be important for the company’s earnings in 2027. Brita Holstad CEO NOS Nova & NOS Technology https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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6NOS Nova Half-Yearly Report 2026 Project Review NOS Technology. Examples of projects finalized during first half of 2026 Rocket launcher U5 ramp developed for Andøya Space’s launch site in Andenes, Norway A big and important, but rather challenging project The Rocket Launcher U5 ramp is designed for research rockets. The system features a 20.5-meter boom with a fixed launch rail and has a lifting capacity of 85 tonne-meters. This enables the handling of rockets with a total weight of up to 8.5 tonnes, depending on the rocket's centre of gravity. The launch rail is electrically operated and can be controlled both locally from the rail itself and from the bunker control room. This solution therefore offers increased operational flexibility and helps to ensure safety during launch operations. https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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7NOS Nova Half-Yearly Report 2026 Bunkering Hose Loading Station Hydraulically driven reel for installation on an offshore platform on the Norwegian Continental Shelf. Project Review NOS Technology. Examples of projects finalized during first half of 2026 Bunkering Hose Loading Stations Two hydraulically driven reels for bunkering fresh water and diesel oil on an FPSO built in China. https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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8NOS Nova Half-Yearly Report 2026 Operational Support and Equipment for Well Intervention Operations Equipment designed and constructed for Operator on the Norwegian Continental Shelf • Performed operational analysis and wind calculations • Lashing calculations and lashing equipment • Planning support and installation plan Project Review NOS Technology. Examples of projects finalized during first half of 2026 https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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9NOS Nova Half-Yearly Report 2026 Access Solution for Well Intervention Operations Equipment designed and constructed for operator on the Norwegian Continental Shelf • Delivered 1 off flexible access solution for Coiled Tubing • The equipment saves time and cost for building scaffolding Project Review NOS Technology. Examples of projects finalized during first half of 2026 https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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10NOS Nova Half-Yearly Report 2026 NOS Nova, formerly Horisont Energi, has developed the NOS CarbonGrid® Project at Gismarvik in Rogaland, Norway, since 2023. The terminal was initially designed to ultimately be a very large terminal for receiving CO2 and sending this in pipelines to several CO2 storage licenses. The market development in Carbon Capture and Storage (CCS) has taken more time than anticipated and the project’s focus was shifted towards smaller volumes (in the range 1-3 million tonnes CO2 per year) where volumes from regional emitters could play a relatively larger part. Through active cooperation with emitters, including work done within CCS Haugalandet, it has been demonstrated that the concept is attractive to the regional emitters and work has been done with storage licences to access their storage through a pipeline system. One important challenge has been to secure sufficient commitment as a basis for further work to mature the business case both technically, commercially and financially. Based on the lack of tangible progress towards realizing the project in the current operating environment, the Board of Directors has decided to pause the active maturation and development of the project. The project has produced a significant knowledge base. It is of the opinion of the Company/Board of Directors that the project is still viable given a clearer political framework for application of CCS in the industry and targeted risk alleviation through public support or co-investments in CCS infrastructure. An innovative project in NOS Nova’s NOS CarbonGrid AS Project Review NOS CarbonGrid® at Gismarvik https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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11NOS Nova Half-Yearly Report 2026 Project Review Polaris CO₂ Storage Licence EXL003, Polaris, was planned as CO2 storage for the Horisont Energi operated Barents Blue Ammonia project planned at Markoppneset in Hammerfest, Norway. In the summer of 2025, Barents Blue AS was spun off from Horisont Energi as a separate company. In 2025, Horisont Energi was granted one year of EXL003 license extension by the Ministry of Energy, until 30 April 2026. NOS Nova lack the required competency for progressing technical work on the licence, and it has proven difficult to get a new license group in place. It was therefore decided to relinquish the license at the end of the extended license period. Licence relinquished upon expiry on 30 April 2026 https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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12NOS Nova Half-Yearly Report 2026 NOS Nova’s intellectual property portfolio continued to mature in the first half of 2026, with patents now granted in 12 of the Company’s 13 patent families. The portfolio has continued to expand and currently comprises of 58 patent applications across multiple jurisdictions, of which approximately 79% have been granted. The patents protect key elements of the Company’s technology platform for CO₂ processing, transport and storage solutions. The innovative patented technical solutions could support the development of scalable CO₂ transport and storage infrastructure and play an important role in the further development of the CCS value chain. NOS Nova will continue to engage with industry partners to explore potential collaboration and commercial opportunities related to its intellectual property portfolio. Intellectual Property Rights Patent Portfolio https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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13NOS Nova Half-Yearly Report 2026 Income statement 14 Note 8 T axes 24 Balance sheet 15 Note 9 Construction contracts 25 Cash flows 16 Note 10 Other receivables 25 Accounting principles and basis for preparation 18 Note 11 Cash and cash equivalents 25 Note 1 Sales revenue 20 Note 12 Share capital 25 Note 2 Payroll expenses, number of employees, Note 13 Share capital, subscription rights and remunerations, loans to employees, etc. 20 shareholder information 26 Note 3 Leases IFRS 16 21 Note 14 Other-long term liabilities 27 Note 4 Intangible assets / Fixtures and fittings, tools, Note 15 Other current liabilities 27 office machinery, etc 21 Note 16 Risk and risk management 27 Note 5 Other operating costs 22 Note 17 Subsequent events and going concern 28 Note 6 Interest income 22 Note 7 Group and associated companies 23 Financial Statements NOS Nova AS Group https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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14NOS Nova Half-Yearly Report 2026 Income Statement NOS Nova Group - previously Horisont Energi Group https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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15NOS Nova Half-Yearly Report 2026 Balance Sheet NOS Nova Group - previously Horisont Energi Group Sandnes, 3rd of September 2026 Olav Østhus Chairperson of the Board Silje Christine Augustson Board Member Bjørn Rygg Board Member Brita Holstad Chief Executive Officer https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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16NOS Nova Half-Yearly Report 2026 Cash Flows NOS Nova Group - previously Horisont Energi Group https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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17NOS Nova Half-Yearly Report 2026 Notes NOS Nova AS Group https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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18NOS Nova Half-Yearly Report 2026 Accounting Principles and Basis for Preparation https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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19NOS Nova Half-Yearly Report 2026 Accounting Principles and Basis for Preparation https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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20NOS Nova Half-Yearly Report 2026 Notes NOS Nova Group https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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21NOS Nova Half-Yearly Report 2026 Notes NOS Nova Group https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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22NOS Nova Half-Yearly Report 2026 Notes NOS Nova Group https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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23NOS Nova Half-Yearly Report 2026 Notes NOS Nova Group https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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24NOS Nova Half-Yearly Report 2026 Notes NOS Nova Group https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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25NOS Nova Half-Yearly Report 2026 Notes NOS Nova Group https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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26NOS Nova Half-Yearly Report 2026 Notes NOS Nova Group https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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27NOS Nova Half-Yearly Report 2026 Notes NOS Nova Group https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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28NOS Nova Half-Yearly Report 2026 Notes NOS Nova Group https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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29NOS Nova Half-Yearly Report 2026 NOS Technology is expected to continue to generate cash for the NOS Nova Group through delivering high-quality products for its customers. The customer base has been expanded through the first half of 2026, and the company will continue its efforts to diversify its customer base. The Board of Directors has decided to pause the active maturation and development of the NOS CarbonGrid® Project at Gismarvik in Haugaland Industrial Park in Norway, based on lack of tangible progress towards realizing the project in the current operating environment. The project has produced a significant knowledge base. It is of the opinion of the Company/Board of Directors that the project is still viable given a clearer political framework for application of CCS in the industry and targeted risk alleviation through public support or co-investments in CCS infrastructure. The Polaris project development activities were put on hold as NOS Nova no longer had the required competency for progressing work on the licence. The Polaris license subsequently expired and was relinquished upon expiry on 30 April 2026. NOS Nova will continue to engage with industry partners to explore potential collaboration and commercial opportunities related to its intellectual property portfolio. The portfolio currently comprises 58 patent applications across multiple jurisdictions, of which approximately 79% have been granted. The innovative patented technical solutions could support the development of scalable CO₂ transport and storage infrastructure and play an important role in the further development of the CCS value chain. Outlook https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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30NOS Nova Half-Yearly Report 2026 Olav Østhus Chairman of the Board of Directors Silje Christine Augustson Independent Board Member Responsibility Statement We confirm, to the best of our knowledge, that the set of financial statements for the period 1st pf January to 30th of June 2026 has been prepared in accordance with the Accounting Act 3-9 and Simplified IFRS and gives a true and fair view of the assets, liabilities, financial position and profit or loss. We also confirm, to the best of our knowledge, that the management report includes a fair review of major events that have occurred and their impact on the financial statements, a description of the principal risks and uncertainties, and major related parties’ transactions. Bjørn Rygg Board Member Brita Holstad Chief Executive Officer The Board of Directors for NOS Nova AS Sandnes, 3rd of September 2026 https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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31NOS Nova Half-Yearly Report 2026 www.nosnova.com https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com
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SIGNATURES ALLEKIRJOITUKSET UNDERSKRIFTER SIGNATURER UNDERSKRIFTER This document contains 31 pages before this page Tämä asiakirja sisältää 31 sivua ennen tätä sivua Detta dokument innehåller 31 sidor före denna sida Dokumentet inneholder 31 sider før denne siden Dette dokument indeholder 31 sider før denne side authority to sign asemavaltuutus ställningsfullmakt autoritet til å signere myndighed til at underskrive representative nimenkirjoitusoikeus firmateckningsrätt representant repræsentant custodial huoltaja/edunvalvoja förvaltare foresatte/verge frihedsberøvende https://sign.visma.net/nb/document-check/86cd6d38-e297-4cdc-92da-15d3553d1ecc Electronically signed / Sähköisesti allekirjoitettu / Elektroniskt signerats / Elektronisk signert / Elektronisk underskrevet www.vismasign.com