Hello everyone, and welcome. My name is Leif Arnold Thomas. I'm the Group CEO of Huddlestock, and together with me today, I have Sabine Merky, who is the Group CFO. I have Øyvind Hovland, who is the Chairman of the Board, and also Simon Lange, who is CEO of ABL and GIGA Broker. I will have this presentation done for 30 minutes, we'll try to keep it in 25 minutes so that we have also some time for some Q&A to the end of the meeting. If you have questions, you have this button on top where we can type in your questions. With that said, let's start. Just give me one sec. Yeah, here it is. It's an honor for me to be able to be here today and present the Q1 results for 2026. As I normally do, I will do the same this time. I think it's natural to start with some highlights from the quarter we have left in the Q1. Much of the focus has been, of course, to focus on commercial development. During that quarter, we were able to sign up a new customer in Germany, Modern Finance Nation, who will launch the products in the autumn. Building the ecosystem, we signed a strategic cooperation agreement with a company called XENIX. XENIX are providing ETF data services that will be available for our B2B customers. Talking about the commercial activities and sales. After the quarter, that was in May, we signed up two new LOIs, both of them with German companies. The one is a B2B company that are focusing on risk management and price protection solutions, which is a perfect fit to what we have to offer. The other one is a company that really would like to come soon into the market using our white-label solution. That's great since it was released and launched in April, so that went fast. We are working with all our eco partners, and we did have a coordinated market communication with Devexperts in the quarter, which also is an example of how we are using the ecosystem and our partners to attract new customers and get also the message from our side and our value proposition also brought out there in the market for interested parties. At the same time, and in parallel, of course, with the Investment-as-a-Service area, we are now working hard on the consulting business. We have set some targets for 2028, where we have said that we were aimed for reaching NOK 100 million in top line and with an EBITDA margin of 20%. We stand behind that objective still. On the short term, we are also happy to see that our long-lasting financial services clients, that means big banks and big financial institutions, have also renewed a contract with us during this quarter. A lot of energy and a lot of good progress when it comes to commercial development in the first quarter. Huddlestock has a European ambition and strategy, and as you all know, we have our base in Germany. Germany is a very interesting market for us. It's big. It's a lot of things happening here. We see that now from 2024 to 2025, the market is growing significantly. What is very interesting for us that provides innovative saving and investment solutions is that it is the younger ones who are driving the growth. If we look at the market growth, very much of that is driven by younger people. That's a perfect fit with our solutions. That is exactly meant for also the coming generation and the investors that are looking for modern and innovative solutions. The German investors are conservative, and we see that ETF and mutual funds are a very important part of the products and the securities they are asking for and investing in. At the same time, we see now that there are different government initiatives that also will drive the market. As we have seen in many other European markets as well, the government is now giving incentives for taking care of long-term savings, and especially when it comes to retirement savings. We expect that this will grow the market even more. As in other markets, and that will happen here in Germany as well, is that the new money will very much come in from those tax-wrapped incentive models driven by government. Then in this space, a big market, a growing market, a market that is growing, basically, and very much driven by young people, supported by the government. We find ourself in a very good place with our white-label solution that can meet the demand for a solution that is possible to provide to the end investors. This is the background where we are. We have a platform, and it's built around our license we have to offer services. We connect our ecosystem partners together with our license, and together we can provide a solution to our B2B customers, meaning that it's not necessary for them to invest heavily in systems to apply for their own license, et cetera. They can just come to us and have everything in place, and we will organize everything for them. In that sake, we will be in the middle of those [inaudible] with our services, and we are attractive, and we see that also from the ecosystem partners, that they perceive and see Huddlestock as an interesting partner because we can also make their products and services available for their customers. This is a platform we are very happy to work around. We see that there are strong incentives from all sides here to go it further. That's also why how it is enlarged from the time to time when I present it. As you can see here on the right-hand side, we have now put in at least two new signed LOIs as potential new B2B customers. It grows. GIGA Broker, that is one of the most exciting things we are working on. In June, the solution is ready for release. That is a big milestone for us because that means that the solution is then moving from a test environment to a live environment. That is a shift where also all the responsibilities from our side is valid, because then we are moving from test information, test use cases, until real assets and real money. Doing that, we will of course then start to extend the user groups and, at some point, we'll gradually start also the launch phase. We are extremely proud of the platform, I must say that. I'm extremely proud of the platform. With a platform with a lot of capabilities, it is also very important to have full control. This is a complex solution, and it's very important that when we go into a live environment, everything from technology, user experience, products, information from information providers, tax, et cetera, must work well together and make money. That is what will happen from June, is that in a live environment and with full control, we'll start then to make sure that everything here are working fine. That is a big milestone for us and demonstrates also how we are moving forward, but with full control. Remember that we have the license and are under supervision from the German BaFin, and it is important for all parties here that everything is worked smoothly. With that said, perhaps I can ask you, Simon, to share a few of your perspectives. Do you hear me? Yes? Yes. Okay. Thank you very much, Leif. I'm Simon, the CEO of GIGA Broker and ABL. I would like to briefly provide an update from GIGA Broker's perspective regarding the joint project with Huddlestock. Over the past months, it has become increasingly clear to everyone involved that we are not building a traditional app or standalone brokerage solution. Together, we are establishing a modern European investment infrastructure with significant regulatory, technological, and operational complexity. Projects of this scale naturally require strong foundations, close coordination, and careful execution. Like many others involved, we would of course have preferred a move even faster in certain areas. However, from GIGA Broker's perspective, it has been extremely important to build the platform correctly from the beginning together with Huddlestock and all involved partners. Our shared ambition is not simply to launch quickly, but to establish a stable, scalable, and strategically important platform with long-term potential. As the project continues to mature, the strategic value of the partnership becomes increasingly clear to us. For GIGA Broker, one of the most attractive aspects is gaining early access to a modern European investment architecture that combines regulated brokerage infrastructure, custody, and over time, also new opportunities with digital and tokenized assets. We believe this combination creates a highly compelling offering initially for the German market, but also with significant potential beyond Germany over time. At the same time, I fully understand that investors are eager to see progress and commercialization. Parts of our own family are already invested in Huddlestock as well, so we naturally follow the development closely ourselves and understand both the expectations and the level of engagement from the investors community. Robert Fuchsgruber, the CEO of Huddlestock Germany, and I remain in close and continuous dialogue with a strong shared focus on strengthening the collaboration, optimizing the processes, and continuously increasing execution speed across the project. Over the coming months, we expect to move through a controlled rollout phase, including selected user onboarding, live operational testing, feedback collection, and final product adjustments. From GIGA Broker's current perspective, we are planning for a proto-commercial market launch during September. We are very excited about the next phase of the project, but most importantly, we look forward to building successful long-term business together with Huddlestock and creating strong results for both companies and their shareholders. Thank you very much. I hand over to you, Leif, back. Thank you very much, Simon, for sharing these thoughts with us. Okay, let's continue. In the Q4 reporting in February, we said that we were going to launch our white-label solution in April, and so we did. We were doing that in combination with the so-called FIBE conference in Berlin in mid of April. It's therefore very good to see. I'm very proud of that actually, that already now in May, we have the first LOI signed with a customer on that solution. Of course, it needs to turn out to a final agreement, but it's a strong signal that our value proposition and our product in the market is something that is well-received and is something that the market wants. As I started to say in the summary of the Q1, we are working on the commercial side and in different channels, and that is from the LinkedIn and web and social media area. It's of course about the personal networks from colleagues here in Germany. We are working through our ecosystem partners, and of course, the participation of different conferences is important as well. What is interesting, and I would just like to share it, is that we have our idea of the typical main customer for our white-label solution. What we see when we talk to potential customers, we can see that the product is also usable for other areas. As for example, this LOI that I talked about earlier, where the product easily can be used also when it comes to securing prices and risk protection, et cetera. It's just about to use other instruments in the solution. We also experienced that the barriers to come into this market are high, and especially then on the regulatory side, but also when it comes to time. This market is moving fast, so to be able to use our solutions without all the time to apply for a license and the cost that comes with that, we feel that we are in a good position. Back to our consulting business. We confirm again that we are aiming for our 2028 objectives that we presented last year, and that is a top line of NOK 100 million and with a EBITDA margin of 20%. We see and we work structurally with the sales, both on the short-term sales with the more typical consulting business, but now also with the Visigon cloud solution, where we take more responsibility for the deliveries and larger contracts, more long-term contracts. That is where we need to succeed in order to reach our goals. We also see that we are then in a space where we also need to do some improvements when it comes to certifications, et cetera. That is in place, and we already are in several very interesting processes with the potential customers, primarily outside the Nordics, which is of course spot on to also an important part of our strategy, to grow outside the Nordics. To be able and to be ready to start to deliver, we have already also set up a structure based in Poland, so that we can have access to competence and capacity at an attractive cost when that time comes. Visigon is, over the years especially, been focused on a system called Calypso, but also when it comes to the latest hirings, it has been important for us to make sure that we also have competence on other large and well-known third-party treasury systems. We are moving out of and preparing out of the Nordics. We have done everything ready when it comes to capacity, and we are also now able to deliver on more treasury systems than historically. We are confident that we are on the way to our ambitious targets for 2028. Then Sabine, I will give the bat to you. Yes. Thank you. [inaudible]. Just making my camera work and the microphone. Well, yes. We've now left 2025. That has been a transitional year, and had, as we all remember, a lot of different impacts on the reported figures. Now looking at the figures, we can actually fully compare the first quarter in 2026 through the last quarter in 2025. Because already in the last quarter in 2025, there were none of the divested units included any longer. If we look at that, at the revenue, the NOK 11 million were completely in line with the last. Both quarters were in line with each other, and the revenue here consists mainly of Visigon. When it comes to the cost side, we've now approached a more normalized and stable level. We have decreased both personal and other operating costs by NOK 3 million compared between the quarters. By that we actually end up with an EBITDA that has improved by more than 30%. Going forward, we expect further cost reductions that will affect especially other operating expenses. When we look at the non-operating items, the depreciation and the net financial items, we now see also a leaner cost base after we've reached a normalized level following the transactions from last year. We can now see that we are definitely moving to a more sustainable cost base. Okay. I think we can go on to the cash, [inaudible]. Thank you. The cash flow development in first quarter. We started the quarter with NOK 4.6 million in cash, as you can see here, and the cash burn from operations was still mainly driven by group functions and our EIS division, Germany. That means by the investment in the expansion of the EIS business. The investment activities are now down to a non-material level and completely in line with our asset-light model. When it comes to the net financing cash flows, they reflect here the net borrowing on our loan facility in the period, so during the first quarter. At quarter end, actually, we secured an additional facility of NOK 10 million in order to strengthen our liquidity going forward. This gave us a total of almost NOK 14 million in available liquidity reserves now entering the second quarter. Thank you. Okay. Thank you, Sabine. To sum up and look forward, we are working hard and continuously on the commercial expansion in Europe. Of course, the most important right now is to work closely together with GIGA Broker and our other partners in that project to make sure that we have a successful release in June, readily can start the launch phase. We will continue with working on sales activities along the different areas I have mentioned, we have still the ambition to make the business area in the EIS area cash positive within late 2026. On the consulting area, we will continue to work along the lines and the strategy to reach the target of 2028, which we confirm we are still aiming for, we have good processes on that. What is important from the consulting business is then to have new customers outside the Nordics, because they are both normally larger, but also that represents a new market for us. We will continue to do whatever we can to improve utilization and be active in the market to improve even more interest and be coming into sales processes, and of course, to utilize our resources as good as possible at the same time. That's the most important for me to say when we look forward. With that said, we have come to the Q&A session. The ones that will be able, or not able, but will be here to answer questions is myself, Sabine, and Øyvind. Now I'll stop the sharing of the presentation and ask you, Sabine or Øyvind, if there has come in some questions here. I can actually not see any questions so far. That's the same with you, Øyvind? Øyvind is muted. I will try to refresh, but no questions. Okay. Let me say, if there have been something going wrong here that makes these questions not being visible for us, please send them to us and we will respond to you, because that's the idea, that we will respond to your questions. If no questions, then the message must have been very clear. That's very good. As I said, if you have then typed in the questions and we cannot see it, please send it to us. Leif Arnold, there has come in a question now through the chat. Okay. Will all 65,000 customers for GIGA Broker go live in June? Is the question. Yeah. The answer to that is no. What will happen in June is that we will turn the solution from a test environment to a live environment, and we will, at that point, start to increase the number of user group of that system. As I mentioned in my presentation, it's a lot of things that needs to be working good together. Then we are in a live situation, and we will need to make sure that we have full control of all these areas working well together. It's in both the Huddlestock's interest and in the GIGA Broker's interest to make sure that the process is taken well care of and under full control. That is fully natural. From that point, we will gradually move to a launch phase. Then, as Simon said, they plan then to have a full public launch phase in September. The launch will happen gradually. Also just to make it clear, these 65,000 customers of ABL, they will be introduced, and we'll do marketing upon them to use the app and the new system. They will not be onboarded, everybody. That is not how it will be. That will be a very good base for the customers onboarding on the GIGA Broker app. No more questions so far, Leif Arnold. I will again say thank you very much, everybody, for participating. Thank you very much for being shareholders in Huddlestock. I am excited about where we are and now where we're heading. Thank you to Simon for sharing your perspectives from your side. It's very good for me, and hopefully also for the audience, to see that both Huddlestock and GIGA Broker are very well aligned when it comes to the path going forward. If, as I said, any questions, send email to me or reach out and we will always answer them as good as possible. Thank you very much, everybody. See you soon. Bye.