Interim report
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED REPORT THIRD-QUARTER 2026
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 2 THIRD QUARTER 2026 Revenue EBITDA adj. EBITDA adj. % NOK 132m NOK 39m 29% + 30% YoY + 61% YoY 24% Q3 25 Profit before tax Profit before tax % Earnings per share NOK 21m 16% NOK 1.84 + 119% YoY 9% Q3 25 NOK 0.92 Q3 25 ROCE 12 months rolling NIBD / EBITDA 12 months rolling 16% 2.05x 16% YTD 25 2.21x YTD 25 FIRST NINE MONTHS 2026 Revenue EBITDA adj. EBITDA adj. % NOK 363m NOK 99m 27% + 21% YoY + 44% YoY 23% YTD 25 Profit before tax Profit before tax % Earnings per share NOK 48m 13% NOK 4.34 + 69% YoY 10% YTD 25 NOK 2.76 YTD 25 ROCE 12 months rolling NIBD / EBITDA 12 months rolling 16% 2.05x 16% YTD 25 2.21x YTD 25 Key figures
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 3 SOILTECH DELIVERS A STRONG QUARTER AND STARTS PAYING DIVIDEND FROM Q4 2026 THIRD QUARTER RESULTS Revenue in third quarter amounted to NOK 132 million, up 30% year- over-year. Adjusted EBITDA was NOK 39 million, up 61% year-over- year, while profit before tax was NOK 21 million, an increase of 119% year-over-year. Margins improved sequentially, with an adjusted EBITDA margin of 29% and a profit before tax margin of 16% for the quarter. “I am pleased to see that we maintained a high level of activity across operations in the third quarter. Revenue remained at an all-time high, in line with the second quarter, while margins continued to improve, supported by high operational efficiency. Our fluid treatment business delivered strong results during the quarter, demonstrating the success of our strategy to expand our service offering by integrating tank cleaning services into our fluid treatment operations”, says Soiltech CEO Jan Erik Tveteraas. NEW DIVIDEND POLICY Soiltech intends to distribute quarterly dividends of 30% of its net profit after tax for the respective quarter, commencing with the fourth quarter of 2026. This is supported by the Company’s strong financial position and the positive market outlook and is in line with the Company’s objective of delivering an attractive total shareholder return, while maintaining its ability to invest in future growth opportunities. An extraordinary general meeting will be convened to authorise the Board of Directors to resolve dividend distributions in accordance with the new dividend policy. FIRST NINE MONTHS RESULTS For the first nine months of 2026, Soiltech had revenue of NOK 363 million, up 21% year-over-year. Adjusted EBITDA was NOK 99 million, up 44% year-over-year, while profit before tax was NOK 48 million, an increase of 69% year-over-year. The adjusted EBITDA margin was 27% (23% YTD 25) for the first nine months, whereas the profit before tax margin was 13% (10%). The return on capital employed last 12 months (ROCE) was 16% (16%). “We delivered strong operational performance during the first nine months of 2026, thanks to the dedication and excellent efforts of our field personnel and support teams in Norway and internationally. By expanding our scope of work and integrating additional services into our operations, we can offer tailored, cost-effective solutions that create value for our clients. We are encouraged by the positive feedback from the clients,” says Tveteraas. REVENUE BY GEO MARKET AND SERVICE LINE Revenue from both business segments in the first nine months of 2026 increased compared to the same period last year. Revenue from Fluid treatment was NOK 192 million or 53% (54% in 2025) of total revenue. Revenue from Solid waste management was NOK 172 million or 47% (46%) of total revenue. Norway accounted for 75% (78%) of revenue in the first nine months, while International contributed 25%. Commercial uptime was 100% across all projects.
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 4 INVESTMENTS Supported by the strong market outlook, Soiltech placed additional equipment orders of approximately NOK 50 million in the quarter, bringing total equipment orders year-to-date 2026 to approximately NOK 250 million, whereof NOK 81 million has been paid as at end 3rd quarter. The equipment is scheduled for delivery in Q4 2026 and Q1 2027, supporting the start-up of new projects and positioning Soiltech to capture further growth opportunities. NEW CONTRACTS Since last quarterly report published on 20 August 2026, we have secured the following new contracts: Awarded a contract by an undisclosed operator to provide waste management services in Norway on a mobile drilling unit. Scope includes Fluid treatment and Solid waste management on the rig, including Soiltech’s SmartTransfer™ system with remote operations capabilities. Expected startup is the second quarter of 2027, with an expected duration of two years. Classified as a large contract. Announced post-quarter. Scope on Deepsea Yantai under a contract with DNO and Elemental Energies in Norway has been expanded to include Soiltech’s SmartTransfer™ technology, covering solid waste management services on the rig and the transfer of drill cuttings to shore by PSV, with startup in fourth quarter 2026. Classified as a large contract. For full details of the contracts, please refer to Soiltech.no/News CASH FLOW, FINANCING AND LIQUIDITY Net cash flow from operating activities was NOK 41 million in the first nine months of 2026. Investments in new equipment amounted to NOK 81 million. Net cash flow from financing activities was NOK 25 million, including new borrowings of NOK 40 million, proceeds from capital increase in connection with share option exercise of NOK 25 million, repayment of borrowings and lease liabilities of NOK 21 million, interest payments of NOK 14 million and purchase of treasury shares of NOK 5 million. Net cash flow for the period was - NOK 15 million. The cash balance was NOK 41 million at the end of the quarter, compared to NOK 58 million at year-end 2025. The Group had undrawn loan facilities of NOK 222 million and an unused overdraft facility of NOK 30 million, resulting in total available liquidity of NOK 294 million as at 30 September 2026.
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 5 OUTLOOK Soiltech is well positioned for continued profitable growth, based on a strong order backlog, solid financial position and strong operational reputation. Market visibility for Soiltech’s technology portfolio is high, driven by global demand for secure energy and clients’ ambition to maintain or increase exploration and production levels. The outlook for Soiltech’s core European market incl. Norway remains strong, whereas the Middle East is still impacted by the regional unrest. Based on the project outlook, revenue in Q4 is expected to be in line with Q3, subject to the start-up of awarded projects, and we see solid growth in 2027 compared to 2026. The Board emphasizes that any forward-looking statements contained in this report are dependent on factors beyond its control and are subject to risks and uncertainties. Accordingly, actual results may differ materially. Sandnes, 30 October 2026 The Board of directors Soiltech ASA
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 6 Key Financials INCOME STATEMENT (MNOK) Q3 26 % Q3 25 % YTD 26 % YTD 25 % Revenue 131.7 101.5 363.4 299.5 Operating cost 73.9 61.5 206.8 184.4 Gross profit 57.9 44% 40.0 39% 156.6 43% 115.1 38% SG&A 19.2 15% 16.0 16% 57.8 16% 46.6 16% EBITDA adj. 38.6 29% 23.9 24% 98.8 27% 68.5 23% Adjustments* (0.4) (0.2) (4.1) (2.6) EBITDA 38.3 23.8 94.7 65.9 Depreciation 11.0 8.5 30.8 23.1 Operating profit 27.3 21% 15.3 15% 63.9 18% 42.8 14% Net financial items (6.2) (5.6) (15.7) (14.3) Profit before tax 21.1 16% 9.6 9% 48.1 13% 28.5 10% *Adjustments YTD: share incentive programmes of MNOK 2.4 and uplisting costs of MNOK 1.7. FINANCIAL METRICS (MNOK) Q3 26 YTD 26 Earnings per share (EPS) NOK 1.84 NOK 4.34 Return on capital employed (ROCE) 16 % NIBD/EBITDA (12-month rolling) 2.05 EPS = Profit after tax / weighted average shares (see note 9). ROCE = Adjusted operating profit / average capital employed (12 months). Information on Alternative Performance Measures (APM) can be found in the appendix at the end of the report. BALANCE SHEET (MNOK) 30 SEP26 30 SEP25 Total assets 689 541 Current liabilities 104 77 Non-current liabilities 280 230 Total equity 305 234 Total equity and liabilities 689 541 Equity ratio % 44 % 43 % CASHFLOW (MNOK) 30 SEP26 30 SEP25 Net cashflow from operating activities 41 56 Net cashflow from investing activities (81) (36) Net cashflow from financing activities 25 (8) Total net cash flow (15) 12 Cash at beginning of period 58 35 Cash at end of period 41 46
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 7 Performance at a glance 137 178 229 274 401 465 - 100 200 300 400 5002021 2022 2023 2024 2025 2026LTM Q3Revenue MNOK 26 44 51 63 96 127 - 20 40 60 80 100 120 1402021 2022 2023 2024 2025 2026LTM Q3EBITDA adj. MNOK 14 19 32 11 41 61 - 10 20 30 40 50 60 702021 2022 2023 2024 2025 2026LTM Q3Profit before tax* MNOK *2023 includes a net gain of MNOK 10 due to Sorbwater transaction. 2024 includes merger and IPOI expenses of MNOK 18 16%0%2%4%6%8%10%12%14%16%18%2021 2022 2023 2024 2025 2026LTMQ3Return on capital employed
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 8 Condensed consolidated financial statements
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 9 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED) NOK million Note Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Profit or loss Revenue 3 131.7 101.4 363.3 299.3 400.8 Other operating income 3 - 0.1 0.1 0.2 0.1 Total operating income 3 131.7 101.5 363.4 299.5 401.0 Cost of materials (30.2) (18.0) (82.8) (62.5) (81.4) Personnel expenses (54.2) (51.6) (156.9) (145.5) (193.0) Depreciation and amortisation (11.0) (8.5) (30.8) (23.1) (32.1) Other operating expenses (9.1) (8.1) (29.0) (25.6) (34.9) Total operating expenses (104.4) (86.2) (299.5) (256.7) (341.3) Operating profit 27.3 15.3 63.9 42.8 59.7 Net foreign exchange gains (losses) (1.0) (1.1) (2.1) (1.5) (1.4) Financial income 0.4 0.1 1.1 0.1 0.5 Financial expenses (5.6) (4.6) (14.7) (12.8) (17.4) Net financial items (6.2) (5.6) (15.7) (14.3) (18.4) Profit before tax 21.1 9.6 48.1 28.5 41.3 Income tax expense 4 (4.6) (2.1) (10.6) (6.3) (9.3) Profit for the period 16.4 7.5 37.5 22.2 32.0 Earnings per share (NOK) Basic earnings per share 9 1.84 0.92 4.34 2.76 3.95 Diluted earnings per share 9 1.80 0.88 4.23 2.66 3.80
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 10 NOK million Note Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Other comprehensive income Items that may be reclassified to profit or loss Currency translation differences - - - - - Income tax relating to these items - - - - - Net other comprehensive income - - - - - Total comprehensive income for the period 16.4 7.5 37.5 22.2 32.0 Total comprehensive income is attributable to: Owners of Soiltech ASA 16.4 7.5 37.5 22.2 32.0 Transfers to other equity 16.4 7.5 37.5 22.2 32.0 Total allocations 16.4 7.5 37.5 22.2 32.0
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 11 CONSOLIDATED STATEMENT OF FINANCIAL POSITION (UNAUDITED) NOK million Note 30.09.2026 30.09.2025 31.12.2025 NOK million Note 30.09.2026 30.09.2025 31.12.2025 Non-current assets Equity Deferred tax assets 4 - 1.7 - Share capital 1.2 1.1 1.1 Intangible assets 1.2 1.8 1.8 Other paid-in equity 143.1 116.2 118.5 Property, plant & equipment 368.9 228.3 279.1 Other reserves 4.4 3.0 3.1 Right-of-use assets 159.8 167.6 165.1 Retained earnings 156.4 113.8 123.6 Total non-current assets 529.9 399.5 446.0 Total equity 305.1 234.1 246.3 Current assets Non-current liabilities Trade receivables 6 97.2 72.6 59.3 Borrowings 5,6 151.5 105.6 125.7 Cash and cash equivalents 5 41.1 46.1 57.5 Lease liabilities 7,8 117.4 124.1 122.7 Contract assets 3 2.8 11.3 8.7 Deferred tax liabilities 4 10.8 - 0.5 Other current assets 17.8 11.6 19.7 Other non-current liabilities 0.3 0.4 0.4 Total current assets 158.9 141.5 145.2 Total non-current liabilities 280.0 230.1 249.2 TOTAL ASSETS 688.7 540.9 591.2 Current liabilities Trade payables 7 48.3 11.9 18.4 Borrowings 5,6 17.5 12.1 14.4 Lease liabilities 7,8 12.8 12.8 12.0 Tax payable 4 - - - Contract liabilities 3 2.5 13.1 9.8 Other current liabilities 22.5 26.9 41.0 Total current liabilities 103.6 76.7 95.7 Total liabilities 383.6 306.9 344.9 Total equity and liabilities 688.7 540.9 591.2
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 12 CONSOLIDATED STATEMENT OF CASH FLOWS NOK million Note YTD 2026 YTD 2025 Cash flows from operating activities Profit/(loss) before tax 48.1 28.5 Income taxes paid 4 (0.3) (0.1) Depreciation, amortisation and impairment 30.8 23.1 Interest expense 5 14.1 12.8 Changes in trade receivables, contract assets/liabilities (39.4) 1.4 Changes in trade payables 1.5 (3.9) Changes in other accruals and prepayments (14.3) (5.6) Net cash flow from operating activities 40.5 56.2 Cash flows from investment activities Purchase of property, plant & equipment & Intangible assets (81.1) (36.3) Net cash flow from investment activities (81.1) (36.3) Cash flows from financing activities Proceeds from new borrowings 5 40.0 130.6 Transaction costs attributable to obtaining financing 5 (0.5) (0.6) Repayments on borrowings 5 (11.0) (119.1) Payment of principal portion of lease liabilities 5 (9.6) (13.0) Interest paid 5 (13.8) (12.9) Proceeds from capital increase 24.7 6.8 Purchase of treasury shares (4.7) - Net cash flow from financing activities 25.1 (8.2) NET CASH FLOW FOR THE PERIOD (15.4) 11.8 Effect of exchange rate fluctuations on cash held (1.0) (0.4) Cash and cash equivalent 01.01 57.5 34.7 Cash and Cash equivalents 41.1 46.1
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 13 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (UNAUDITED) NOK million Share capital Other paid-in equity Other reserves Retained earnings Total equity 2026 Balance at 1 January 2026 1,1 118,5 3,1 123,6 246,3 Balance at 1 January 2026 1,1 118,5 3,1 123,6 246,3 Profit/(loss) for the period - - - 37,5 37,5 Other comprehensive income - - - - - Total comprehensive income - - - 37,5 37,5 Transactions with owners Share-based payment 0,1 24,6 1,3 - 26,0 Purchase of treasury shares - - - (4,7) (4,7) Balance at 30 SEP 2026 1,2 143,1 4,4 156,4 305,1 2025 Balance at 1 January 2025 1,0 109,5 2,4 91,5 204,5 Balance at 1 January 2025 1,0 109,5 2,4 91,5 204,5 Profit/(loss) for the period - - - 32,0 32,0 Other comprehensive income - - - - - Total comprehensive income - - - 32,0 32,0 Transactions with owners Share-based payment - 9,0 0,7 - 9,7 Balance at 31 Dec 2025 1,1 118,5 3,1 123,6 246,3
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 14 Notes to the Consolidated interim financial statements Note 1 – General information Soiltech ASA (the 'Company') is a limited company domiciled in Norway. The registered office of the Company is Koppholen 25, 4313, Sandnes, Norway. The Company is an innovative technology company specializing in the treatment, recycling and sustainable handling of contaminated water and solid industrial waste streams on site. The Company was listed on Euronext Expand on 11.09.2024 with the ticker code 'STECH' and as part of the listing converted into a public limited company (Nw.: "Allmennaksjeselskap"). On 30.04.2026, the Company was subsequently uplisted to Euronext Oslo Børs. In connection with this, the Group incurred NOK 1.7 million in costs related to listing fees, legal advisory fees, and fees for financial advisory services. These costs are recognised as other operating cost in the income statement. The consolidated financial statements comprise the financial statements of the Company and its subsidiaries (together referred to as the 'Group' or 'Soiltech'). The interim consolidated financial statements have not been subject to external audit. Note 2 – Summary of general accounting policies The Group has applied the same accounting policies and methods of computation in its interim consolidated financial statements as in its 2025 annual financial statements. Specific accounting policies related to the individual areas in the interim consolidated financial statements are described in the relevant notes. Basis for preparation These interim consolidated financial statements are presented in accordance with IAS 34 Interim Financial Reporting. They were authorised for issue by the board of directors on 30 October 2026. They do not include all disclosures that would otherwise be required in a complete set of financial statements and should be read in conjunction with the 2025 IFRS consolidated financial statement issued by the Company on 14.04.2026. The interim consolidated financial statements are presented in Norwegian Kroner (NOK) and have been rounded to the nearest million unless otherwise stated. As a result of rounding adjustments, amounts and percentages may not add up to the total. Accounting estimates and judgements Items in the financial statements are to a varying degree affected by estimates and assumptions made by management; reference is made to the relevant notes for the affected items. Estimates with a material impact on the interim financial statements, combined with significant estimation uncertainty, relate to the recognition of deferred tax assets arising from tax loss carryforwards, including the outcome of ongoing
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 15 tax audits (note 4). Recognised deferred tax assets are offset against deferred tax liabilities where the applicable offsetting criteria are met. Segment information Given the uniform nature of the Group's services and the centralized management from its head office in Norway, the entire Group is considered as a single operating segment for internal reporting purposes. New and amended IFRS standards Of new standards and interpretations that are not mandatory for the current reporting period, none are expected to have a material impact on the Group in the current or future reporting periods and on foreseeable future transactions. IFRS 18 ‘Presentation and Disclosure in Financial Statements’, issued in April 2024 and effective from 01.01.2027, introduces new requirements for the presentation and aggregation of information in the primary financial statements and related disclosures. The Group is currently assessing the impact of this standard and has initiated preparatory work, including adjustments to its chart of accounts, to facilitate future implementation and comparability of financial information. Share-based payment During YTD 2026, a total of 210,000 new share options were granted to employees. In the same period, 626,150 share options were exercised and 15,000 shares forfeited. Per 30.09.2026, there were 590,000 share options outstanding. Note 3 – Revenues Accounting policies The contracts are considered to consist of only one performance obligation, which is satisfied over time. Progress is measured based on the time the equipment and personnel is available to service the customer. In practice, revenue based on daily rates is thus recognized by the amount that the Company has a right to invoice. As a practical simplification based on materiality, any consideration associated with mobilization and demobilization are recognized over the period of the underlying contract. Mobilization cost is considered to be cost to fulfil a contract and are recognized as an asset when incurred. These costs are presented under the accounting line item “Contract assets” in the balance sheet. The asset is subsequently amortized over the contract period, as cost of materials and personnel expenses. Correspondingly, mobilization revenue is presented under the accounting line item Contract liabilities in the balance sheet and is recognized as income systematically over the contract period, in line with the amortization of mobilization costs.
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 16 Revenues by product category NOK million Q3 2026 Q3 2025 YTD 2026 YTD 2025 Fluid treatment 73.1 53.7 191.7 161.0 Solid waste management 58.6 47.8 171.7 138.5 Total 131.7 101.5 363.4 299.5 Revenues by geography NOK million Q3 2026 Q3 2025 YTD 2026 YTD 2025 Norway 91.2 76.6 271.8 234.2 Europe (Excl. Norway) 40.5 24.9 90.6 64.5 Rest of the world - - 1.0 0.8 Total 131.7 101.5 363.4 299.5 Revenues from major customers NOK million YTD 2026 YTD 2025 Customer 1 91.8 89.8 Customer 2 51.6 15.6 Customer 3 49.8 56.3 Customer 4 34.2 14.6 Customer 5 31.3 25.1 Total from major customers 258.7 201.3 Other (less than 10% each) 104.6 98.1 Total 363.4 299.5
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 17 Note 4 – Income tax Accounting policies The Group consists of companies subject to ordinary corporate taxation in Norway, and within the same tax group with respect to offsetting of deferred tax. Income tax is therefore recognized on the basis of a general application of IAS 12 without the need for further judgments or policies of significance. Basis for recognition of deferred tax assets Deferred tax assets are recognized when it is probable that the company will have a sufficient profit for tax purposes in subsequent periods to utilize the tax asset. The Group recognize previously unrecognized deferred tax assets to the extent it has become probable that the Group can utilize the deferred tax asset. Similarly, the Group will reduce a deferred tax asset to the extent that the Group no longer regards it as probable that it can utilize the deferred tax asset. Deferred tax and deferred tax assets are measured on the basis of the expected future tax rates applicable to the companies in the Group where temporary differences have arisen based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax and deferred tax assets are recognized at their nominal value and classified as non-current asset (non-current liabilities) in the consolidated statement of financial position. Basis for tax expense in interim periods The tax expense in interim periods is measured by multiplying profit before tax by estimated average annual effective income tax rate. Tax loss carryforwards and tax audits The tax audits initiated by the Norwegian Tax Administration, as described in the 2025 annual financial statements, remain ongoing. With respect to the audit of Soiltech ASA, the Norwegian Tax Administration issued a notice in June 2026 proposing to disallow the tax loss carryforward assumed in connection with the 2024 merger with Oceanteam ASA. Soiltech ASA submitted its response in July 2026 and maintains its previous assessment and accounting treatment. There were no developments in respect of the tax audit for Sorbwater Technology AS during the period.
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 18 Note 5 – Cash and cash equivalents Cash and cash equivalents comprise mostly ordinary bank deposits. The statement of cash flows is prepared using the indirect method. Interest income and expenses are presented as investing and financing activities, respectively. Restricted cash NOK million 30.09.2026 30.09.2025 Payroll withholding tax account - 3.8 Reconciliation of cash flows from financing activities – 2026 NOK million Lease liabilities Borrowings Total Carrying amount 31.12.2025 134.7 140.1 274.8 Cash flows - Proceeds from new borrowings 40.0 40.0 Repayment of principal borrowings (11.0) (11.0) Repayment of principal portion of lease liability (9.6) (9.6) Interest paid (6.4) (7.4) (13.8) Other changes 0.1 0.1 Interest expenses 6.4 7.7 14.1 Additions lease 4.5 4.5 Transaction costs attributable to obtaining financing (0.5) (0.5) New lease and index regulation 0.6 - 0.6 Carrying amount 30.09.2026 130.1 169.1 299.2 Non-current 117.4 151.5 Current 12.8 17.5
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 19 Note 6 – Borrowings Accounting policies Borrowings are initially recognized at fair value, including transaction costs directly attributable to the transaction, and are subsequently measured at amortized cost. There has not been any material transaction cost during the year. In July 2025, Soiltech entered into new financing agreements with SpareBank 1 Sør-Norge, replacing the Group’s previous credit facilities. The agreements included a NOK 150 million term loan and a NOK 30 million overdraft facility. In August 2026, Soiltech entered into an agreement with SpareBank 1 Sør-Norge for an additional NOK 150 million term loan facility. The new facility is on the same terms as the existing term loan and increases Soiltech’s committed financing facilities by NOK 150 million. Undrawn facility as of 30.09, is NOK 222 million. Covenants The loan facilities with Sparebank 1 Sør-Norge have the following covenants: -Net-interest bearing debt (NIBD)/Earnings before interest taxes, depreciation and amortization (EBITDA) 12-month rolling < 3.50 -Book equity > 30% -Bank approval required for dividends or group contributions The covenants are tested quarterly, and the Company is not in breach with any of the covenants above. Specification of borrowings – 30.09.2026 NOK million Nominal amount Capitalized financing fees Carrying amount Sparebank 1 Sør Norge 169.9 (0.9) 169.1 Carrying amount as per 30.09.2026 169.9 (0.9) 169.1 Non-current borrowings 151.5 Current borrowings 17.5 Specification of borrowings – 30.09.2025 NOK million Nominal amount Capitalized financing fees Carrying amount Sparebank 1 Sør Norge 117.7 - 117.7 Carrying amount as per 30.09.2025 117.7 - 117.7 Non-current borrowings 105.6 Current borrowings 12.1
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 20 Contractual payments on borrowings – 30.09.2026 NOK million Next year 1-2 years 2-5 years More than 5 years Sparebank 1 Sør Norge 28.3 161.6 - - Total 28.3 161.6 - - Contractual payments on borrowings – 30.09.2025 NOK million Next year 1-2 years 2-5 years More than 5 years Sparebank 1 Sør Norge 20.0 18.4 99.6 - Total 20.0 18.4 99.6 - Carrying amount of assets pledged as security NOK million 30.09.2026 30.09.2025 31.12.2025 Property, plant & equipment 368.9 228.3 279.1 Trade receivables 97.2 72.6 59.3 Total 466.0 300.9 338.4
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 21 Note 7 – Financial assets and liabilities Current Financial assets per category NOK million 30.09.2026 30.09.2025 31.12.2025 Financial assets at amortised cost Trade receivables 97.2 72.6 59.3 Contract asset 2.8 11.3 8.7 Other assets 17.8 11.6 19.7 Financial assets at fair value through profit or loss Cash and cash equivalents 41.1 46.1 57.5 Carrying amount as at 30.09.2026 158.9 141.5 145.2 Financial liabilities per category NOK million 30.09.2026 30.09.2025 31.12.2025 Current Non-current Current Non-current Current Non-current Financial liabilities at amortised cost Borrowings 17.5 151.5 12.1 105.6 14.4 125.7 Lease liabilities 12.8 117.4 12.8 124.1 12.0 122.7 Trade payables 48.3 11.9 18.4 Financial liabilities at fair value through profit or loss Currency forward contracts - - - - Carrying amount as at 30.09.2026 78.6 268.9 36.8 229.7 44.9 248.3 Fair value For items measured at amortized cost, carrying amount is considered to be a reasonable approximation to fair value.
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 22 Note 8 – Financial risk and capital management The Group’s policies for management of capital and financial risk aim to support the current strategy and target of maintaining a high rate of growth and developing prospective business opportunities. The Group’s capital structure shall be robust enough to maintain the desired freedom of action and utilize growth opportunities, based on strict assessments relating to the allocation of capital. The Group debt financing consist of bank and leasing financing. The loan covenants to which the Group is subject play a key role in how capital is managed and allocated, to maintain a low financing risk and financial flexibility. See note 6 borrowings for further details on the Group’s financing. Market risk The Group's exposure to financial market risk is mainly related to interest rates on external financing and various forms of currency risks. The Group has a diversified client list and evaluates changes in pricing structure contract by contract, as part of its mitigation process to cover for increased interest cost. The Group has not entered into any interest swap agreements. Currency risk The Group has Norwegian kroner (NOK) as its base currency. However, through its operations outside Norway, the Group is exposed to fluctuations in certain exchange rates, mainly Euro (EUR), British Pound (GBP), American dollar (USD) and Romanian leu (RON). The Group also has currency risks linked to both balance sheet monetary items and investments in foreign countries. Interest rate risk The Company loan and leasing agreements have floating interest rates based on NIBOR according to the financial strategy, see Note 6 borrowings, and is thereby influenced by changes in the interest market. A change of increase of 1 percentage point in 3M NIBOR means a change in yearly net interest expenses of approximately MNOK 2.8. Credit risk Assets that may give rise to credit risk comprise mainly trade receivables and bank deposits. For the latter, the counterparties are mainly banks established in the Nordic countries, which indicates that the credit risk should be regarded as negligible. Trade receivables are characterized by a concentration in the customer base, in terms of country and industry. The customers, however, are primarily large companies with high credit ratings, and the agreed payment terms in the contracts typically ensure that any overdue amounts are kept at low level. Thus, credit losses have historically been insignificant.
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 23 Liquidity risk As at 30 September 2026, the Group had total borrowings and lease liabilities of NOK 299 million. In addition, the Group had undrawn loan facilities of NOK 222 million and an unused overdraft facility of NOK 30 million, resulting in total undrawn bank facilities of NOK 252 million. The additional NOK 150 million term loan facility agreed in August 2026 is included in the available undrawn facilities as at 30 September 2026. See Note 6 for further information. Capital Commitments As at 30.09.2026, the Group had equipment purchase commitments of approximately NOK 250 million, of which NOK 81 million had been paid. The remaining amount is expected to be paid, and the equipment delivered, in Q4 of 2026 and Q1 2027. The commitments will be financed through available credit facilities and equity. Summary of contractual maturities 30.09.2026 NOK million Next year 1-2 years 2-5 years More than 5 years Lease liabilities 21.9 21.9 63.8 61.4 Borrowings 28.3 161.6 - - Trade payables 48.3 - - - Total non-derivative 98.5 183.5 63.8 61.4 Currency forward contracts - - - - Total derivative - - - - Total 98.5 183.5 63.8 61.4
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 24 Summary of contractual maturities 30.09.2025 NOK million Next year 1-2 years 2-5 years More than 5 years Lease liabilities 18.9 18.0 53.2 70.3 Borrowings 20.0 18.4 99.6 - Trade payables 11.9 - - - Total non-derivative 50.7 36.4 152.8 70.3 Currency forward contracts - - - - Total derivative - - - - Total 50.7 36.4 152.8 70.3 Note 9 – Earnings per share Earnings per share (NOK) Q3 2026 Q3 2025 YTD 2026 YTD 2025 Basic earnings per share 1.84 0.92 4.34 2.76 Diluted earnings per share 1.80 0.88 4.23 2.66 Earnings Million NOK Profit (loss) for the period 16.40 7.52 37.55 22.23 Shares used as the denominator Weighted average number of shares 8 894 8 215 8 648 8 069 Adjustments for calculation of diluted earnings per share Options* 222.0 293.0 222.0 293.0 Weighted average number of shares and potential shares 9 116 8 508 8 870 8 362
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 25 Note 10 – Share capital and shareholder information Share capital and ownership structure As of 30 September 2026, the share capital of the parent company, Soiltech ASA amount to NOK 1 158 050.01 and consist of 8 908 077 ordinary shares, each with a nominal value of NOK 0.13. The increase in share capital for the first nine months results from the exercise of 626,150 share options. Consequently, share capital increased from NOK 1,076,650.51 at 31 December 2025 to NOK 1,158,050.01 at 30 September 2026. As at 30 September 2026, the Company held 55,000 treasury shares acquired in connection with its Employee Share Purchase Plan, of which 49,147 shares will be transferred to participating employees in the fourth quarter of 2026. Shareholders as at 30.09.2026 Shareholders Number of shares Ownership interest BNP PARIBAS 977 269 11.0 % DNB CARNEGIE INVESTMENT BANK AB 662 090 7.4 % KNATTEN I AS, Associated with Jan Erik Tveteraas (CEO) 617 405 6.9 % SKAGENKAIEN INVESTERING AS, Associated with Mona H.S. Freuchen (Board Member) 591 000 6.6 % KRISTIANRO AS 562 676 6.3 % DNB BANK ASA 390 491 4.4 % WELLEX AS, Associated with Glenn Åsland (Vice President Technology) 347 147 3.9 % RIVERBORG B.V. Associated with Karin Govaert (Board Member) 340 000 3.8 % PIMA AS, Associated with Eirik Flatebø (Board Member) 303 500 3.4 % HILDR AS 196 043 2.2 % HAVNEBASE EIENDOM AS 193 470 2.2 % VI CAPITAL AS 187 500 2.1 % CACEIS Bank 181 774 2.0 % AVANZA BANK AB 162 420 1.8 % PONDERUS INVEST AB 149 740 1.7 % TIGERSTADEN MARINE AS 136 348 1.5 % NIDAROS EQUITY FUND AS 98 016 1.1 % WESTMENT AS 95 000 1.1 % Vestlie, Tove Iren (CFO) 81 000 0.9 % GAVIN RYDER 78 000 0.9 % Top 20 shareholders 6 350 889 71.3 % OTHER 2 557 188 28.7 % Total 8 908 077 100.0 % Note 11 – Events after the reporting period After the balance sheet date there are only events in the ordinary course of business and no events of an adjusting or non-adjusting nature.
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 26 Statement of responsibility
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 27 Responsibility statement We confirm that, to the best of our knowledge, the condensed consolidated interim financial statements as of and for the three and nine months ended 30 September 2026, prepared in accordance with IFRS Accounting Standards as adopted by the EU, additional Norwegian disclosure requirements in the Norwegian Accounting Act and IAS 34 Interim Financial Reporting, give a true and fair view of the Company’s consolidated assets, liabilities, financial position and results for the period. To the best of our knowledge, the interim report for the first nine months of 2026 includes a fair review of important events that have occurred during the period and their impact on the condensed consolidated interim financial statements, the principal risks and uncertainties for the remaining three months of 2026, and significant related party transactions. Sandnes, 30 October 2026 For the Board of Directors and Chief Executive Officer Soiltech ASA
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 28 Appendix Alternative Performance Measures
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 29 Alternative Performance Measures The Group presents certain alternative measures of financial performance, financial position and cash flows that are not defined or specified in IFRS Accounting Standards. The Group considers these measures to provide valuable supplementary information for Management, Board of Directors and investors, as they provide additional useful information regarding the Group's financial performance and position. As not all companies define and calculate these measures in the same way, they are not always directly comparable with those used by other companies. These measures should not be regarded as replacing measures that are defined or specified in IFRS Accounting Standards but should be considered as supplemental financial information. In this report, the Alternative Performance Measures used by the Group are defined, explained and reconciled to the most directly reconcilable line item, subtotal or total presented in the financial statements of the corresponding period. The APMs used by the Group are set out below: Operating cost Operating cost is defined as the total of cost of materials, personnel expenses and other operating expenses less expenses related to onshore personnel and other onshore operating expenses, share incentive program, severance payment, legal cost related to Merger & IPO and other items defined by the Management to not relate to offshore operations. Management defines that Operating cost illustrates the expenses directly related to offshore activities. This measure provides additional information for the Management, Board of Directors and investors in order to evaluate underlying profitability of offshore operating activities and their ability to generate cash. SG&A Selling, general and administrative expenses (“SG&A”) is defined as the sum of Cost of materials, Personnel expenses and other operating expenses less operating costs (as defined above), share incentive program, severance payment, legal cost related to Merger & IPO and other items defined by management that impact comparability between periods. Management defines that SG&A illustrates the expenses directly related to onshore support activities. This measure provides additional information for management, the board and investors, in order to evaluate underlying profitability and their ability to generate cash. Gross Profit and Gross profit margin (%) Gross Profit is defined as total operating income less Operating cost (as defined above). Gross profit margin is defined as gross profit divided by total operating income. Gross profit and Gross profit margin provide additional information for Management, Board of Directors and investors to evaluate the underlying profitability generated from offshore operating activities. EBITDA and EBITDA margin EBITDA is defined as Operating profit before other gains, impairment, depreciation and amortization. EBITDA margin is defined as EBITDA divided by total operating income. These measures provide additional information for Management, Board of Directors and investors to evaluate the underlying profitability of operating activities and their ability to generate cash before investment in fixed assets and service of debt. EBITDA adj. and EBITDA adj. margin EBITDA adj. is defined as EBITDA (as defined above) adjusted for items affecting comparability such as expenses related to share incentive programs, severance payment, legal cost related to Merger & IPO and other items defined by Management that impact comparability. EBITDA adj. margin is defined as EBITDA adj. divided
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 30 by total operating income. These measures provide additional information for Management, the Board of Directors and investors to evaluate underlying profitability of operating activities and their ability to generate cash before investments in fixed assets and service of debt. Net interest-bearing debt Net interest-bearing debt is defined as the total of non-current borrowings, non-current lease liabilities, current borrowings and current lease liabilities less cash and cash equivalents. This measure provides additional information for Management, Board of Directors and investors to assess the Group's financial indebtedness and as an input to assess its capacity to meet its financial commitments. Equity ratio Equity ratio is defined as total equity divided by total assets. This measure provides additional information for Management, Board of Directors and investors to assess the Group's financial position and capital structure. All margins are shown under % column in the table. Reconciliation of the APMs Operating cost NOK million Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Cost of materials 30.2 18.0 82.8 62.6 81.4 Personnel expenses 54.2 51.6 156.9 145.5 193.0 Other operating expenses 9.1 8.1 29.0 25.5 34.9 Less: Onshore expenses 19.3 16.0 57.8 46.5 63.4 Share incentive program (Adjustments) 0.4 0.2 2.4 2.6 4.1 Expenses related to uplisting (Adjustments) - 1.7 - Operating cost 73.8 61.5 206.9 184.4 241.6 Quarterly report 73.9 61.5 206.8 184.4 241.6
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 31 SG&A NOK million Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Cost of materials 30.2 18.0 82.8 62.6 81.4 Personnel expenses 54.2 51.6 156.9 145.5 193.0 Other operating expenses 9.1 8.1 29.0 25.5 34.9 Less: Operating cost 73.8 61.5 206.9 184.4 241.6 Share incentive program (Adjustments) 0.4 0.2 2.4 2.6 4.1 Expenses related to uplisting (Adjustments) - - 1.7 - SG&A 19.3 16.0 57.7 46.5 63.4 Quarterly report 19.2 16.0 57.8 46.6 63.5 Gross profit and Gross profit margin NOK million Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 (a) Total operating income 131.7 101.5 363.4 299.5 401.0 Operating cost 73.8 61.5 206.9 184.4 241.6 (b) Gross profit 57.9 40.0 156.5 115.1 159.4 (b/a) Gross profit margin 44 % 39 % 43 % 38 % 40 %
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SOILTECH ASA REPORT THIRD-QUARTER 2026 UNAUDITED Page | 32 EBITDA and EBITDA adj. NOK million Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Operating profit 27.3 15.3 63.9 42.8 59.7 Depreciation and amortization 11.0 8.5 30.8 23.1 32.1 (a) EBITDA 38.3 23.8 94.7 65.9 91.8 Adjusted for: (Adjustments) 0.4 0.2 4.1 2.6 4.1 (b) EBITDA adj. 38.6 23.9 98.8 68.5 95.9 (c) Total operating income 131.7 101.5 363.4 299.5 401.0 (a/c) EBITDA margin 29 % 23 % 26 % 22 % 23 % (b/c) EBITDA adj. Margin 29 % 24 % 27 % 23 % 24 % Net interest-bearing debt NOK million 30.09.2026 30.09.2025 31.12.2025 Non-current Borrowings 151.5 105.6 125.7 Non-current Lease liabilities 117.4 124.1 122.7 Current Borrowings 17.5 12.1 14.4 Current Lease liabilities 12.8 12.8 12.0 Cash and cash equivalents (41.1) (46.1) (57.5) Net interest-bearing debt 258.2 208.5 217.3 Equity ratio NOK million 30.09.2026 30.09.2025 31.12.2025 (a) Total equity 305.1 234.1 246.5 (b) Total assets 688.7 540.9 591.2 (a/b) Equity ratio 44 % 43 % 42 %