Envipco Holding-Third UK contract announced – ~10% share by value reached-07/15/2026

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Envipco Holding-Third UK contract announced – ~10% share by value reached-07/15/2026

Envipco Holding

NEWSFLASH | 15 JUL 2026

Third UK contract announced – ~10% share by value reached

Envipco has been appointed supplier to a "major national UK retailer" for approximately 1,000 Flex RVMs, representing an

order value of around EUR 15m. This brings the company's announced UK order intake to 4,800 RVMs, equivalent to roughly

14% market share by machine count and around EUR 80m, or approximately 10% by value. As with previously announced

contracts, deliveries are scheduled to begin in H1'27, supporting our expectation of a hard UK DRS launch. We currently

forecast EUR 112m of UK revenue in 2027e, implying that around 70% of our UK estimates are now supported by announced

orders. While the retailer has not been disclosed, the wording suggests a UK-only national chain. As Envipco has not been

described as the sole supplier, we believe the retailer likely operates well in excess of 1,000 stores, making Asda,

Sainsbury's or Tesco the most plausible candidates in our view.

Fabian Jørgensen

+47 22 87 88 43, fabian.jorgensen@paretosec.com

Helene Tingvold

+47 24 02 81 11, helene.tingvold@paretosec.com

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applicable to equity/debt research reports prepared for retail investors. This material is considered by Pareto Securities to qualify as an acceptable minor non-monetary benefit according to Directive