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Research evidence excerpt

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, neither ABG Sundal Collier nor any of their affiliated or associated companies and their

directors, officers, representatives, and employees have any required regulatory disclosures to make in relation to an ownership

position for the analyst(s) and members of the analyst's household, ownership by ABG Sundal Collier and/or its affiliates,

ownership in ABG Sundal Collier Holding ASA by the company(ies) to whom the recommendation(s) refer(s) to, liquidity

provision/market making agreement, managed or co-managed public offerings, compensation for provision of certain services,

directorship of the analyst, or a member of the analyst's household, or in relation to any contractual obligations to the issuance

of this research report.

Within the last 12 months, ABG Sundal Collier ASA, ABG Sundal Collier Denmark, filial af ABG Sundal Collier ASA, Norge and/

or ABG Sundal Collier AB has received compensation for Corporate Finance services from Conapto.

ABG Sundal Collier acted as sole manager and bookrunner to Conapto, a portfolio company of Marguerite, in connection with

their SEK 500 million tap issue

ABG Sundal Collier is not aware of any other actual, material conflicts of interest of the analyst or ABG Sundal Collier of which

the analyst knows or has reason to know at the time of the publication of this report.

All prices are as of market close on 27 May, 2026 unless otherwise noted.

Disclaimer

This report has been prepared by ABG Sundal Collier ASA, ABG Sundal Collier Denmark, filial af ABG Sundal Collier ASA, Norge,

ABG Sundal Collier AB and/or ABG Sundal Collier Limited and any of their directors, officers, representatives and employees

(hereinafter collectively referred to as “ABG Sundal Collier”).