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0.5in;">1.1</td> <td style="text-align: justify;">Reporting entity</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">ADS-TEC Energy PLC and its subsidiaries (“ADSE”) provide intelligent and decentralized energy storage systems to municipalities, automotive OEMs (Original Equipment Manufacturers), charging operators, dealerships, fleets, residential areas, offices, and industrial sites in North America and Europe. Its scalable systems are designed for use in private homes, public buildings, commercial enterprises, industrial and infrastructure solutions, and self-sufficient energy supply systems, with capacities up to the multi-megawatt range.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">ADS-TEC Energy PLC (“ADSE Holdco” or “the Company”) is domiciled at 10 Earlsfort Terrace, Dublin 2 D02 T380, Ireland. The Company is a public limited company incorporated in Ireland. The main operating company is ads-tec Energy GmbH, which is located in Heinrich-Hertz-Str. 1, 72622 Nürtingen, Germany.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The board of directors of ADSE Holdco authorized the unaudited interim condensed consolidated financial statements on September 21, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;" width="100%"><tbody><tr style="vertical-align: top;"><td style="width: 0;"></td> <td style="width: 0.5in;">1.2</td> <td style="text-align: justify;">Group information</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The consolidated financial statements of ADSE include:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="padding-bottom: 1.5pt; font-weight: bold;">Jun. 30, 2026</td> <td style="padding-bottom: 1.5pt;"> </td> <td> </td> <td style="padding-bottom: 1.5pt;"> </td> <td> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center;">Shareholding</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom;"><td style="border-bottom: Black 1.5pt solid; font-weight: bold;">Group companies</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">City</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">Country</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">Direct or indirect</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom;"> <td>ADS-TEC Energy PLC (“ADSE Holdco”)</td> <td> </td> <td style="text-align: center;">Dublin</td> <td> </td> <td style="text-align: center;">Ireland</td> <td> </td> <td colspan="2" style="text-align: center;">Parent company</td> <td> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 53%; text-align: left; padding-bottom: 1.5pt;">ads-tec Energy GmbH (“ADSE GM”)</td> <td style="width: 1%; padding-bottom: 1.5pt;"> </td> <td style="width: 15%; padding-bottom: 1.5pt;">Nürtingen</td> <td style="width: 1%; padding-bottom: 1.5pt;"> </td> <td style="width: 15%; padding-bottom: 1.5pt;">Germany</td> <td style="width: 1%; padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; width: 1%; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; width: 12%; text-align: right;">100</td> <td style="width: 1%; padding-bottom: 1.5pt; text-align: left;">%</td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt;">ads-tec Energy, INC. (“ADSE US”)</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;">Auburn</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;">USA</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; text-align: right;">100</td> <td style="padding-bottom: 1.5pt; text-align: left;">%</td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt;">ads-tec Energy Service GmbH (“ADSE Service”)</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;">Nürtingen</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;">Germany</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; text-align: right;">100</td> <td style="padding-bottom: 1.5pt; text-align: left;">%</td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt;">ads-tec Energy Schweiz GmbH (“ADSE CH”)</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;">Zurich</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;">Switzerland</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; text-align: right;">100</td> <td style="padding-bottom: 1.5pt; text-align: left;">%</td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt;">ads-tec Energy Austria GmbH (“ADSE Austria”)</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;">Kötschach-Mauthen</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;">Austria</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; text-align: right;">100</td> <td style="padding-bottom: 1.5pt; text-align: left;">%</td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The consolidated financial statements of ADSE include:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="padding-bottom: 1.5pt; font-weight: bold;">Jun. 30, 2026</td> <td style="padding-bottom: 1.5pt;"> </td> <td> </td> <td style="padding-bottom: 1.5pt;"> </td> <td> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center;">Shareholding</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom;"><td style="border-bottom: Black 1.5pt solid; font-weight: bold;">Group companies</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">City</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">Country</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">Direct or indirect</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom;"> <td>ADS-TEC Energy PLC (“ADSE Holdco”)</td> <td> </td> <td style="text-align: center;">Dublin</td> <td> </td> <td style="text-align: center;">Ireland</td> <td> </td> <td colspan="2" style="text-align: center;">Parent company</td> <td> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 53%; text-align: left; padding-bottom: 1.5pt;">ads-tec Energy GmbH (“ADSE GM”)</td> <td style="width: 1%; padding-bottom: 1.5pt;"> </td> <td style="width: 15%; padding-bottom: 1.5pt;">Nürtingen</td> <td style="width: 1%; padding-bottom: 1.5pt;"> </td> <td style="width: 15%; padding-bottom: 1.5pt;">Germany</td> <td style="width: 1%; padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; width: 1%; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; width: 12%; text-align: right;">100</td> <td style="width: 1%; padding-bottom: 1.5pt; text-align: left;">%</td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt;">ads-tec Energy, INC. (“ADSE US”)</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;">Auburn</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;">USA</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; text-align: right;">100</td> <td style="padding-bottom: 1.5pt; text-align: left;">%</td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt;">ads-tec Energy Service GmbH (“ADSE Service”)</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;">Nürtingen</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;">Germany</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; text-align: right;">100</td> <td style="padding-bottom: 1.5pt; text-align: left;">%</td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt;">ads-tec Energy Schweiz GmbH (“ADSE CH”)</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;">Zurich</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;">Switzerland</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; text-align: right;">100</td> <td style="padding-bottom: 1.5pt; text-align: left;">%</td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt;">ads-tec Energy Austria GmbH (“ADSE Austria”)</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;">Kötschach-Mauthen</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;">Austria</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; text-align: right;">100</td> <td style="padding-bottom: 1.5pt; text-align: left;">%</td> </tr></tbody></table> Dublin Ireland Ireland Nürtingen Germany 1 Auburn USA 1 Nürtingen Germany 1 Zurich Switzerland 1 Kötschach-Mauthen Austria 1 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;" width="100%"><tbody><tr style="vertical-align: top;"><td style="width: 0;"></td> <td style="width: 0.5in;">2.</td> <td style="text-align: justify;">Accounting policies</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;" width="100%"><tbody><tr style="vertical-align: top;"><td style="width: 0;"></td> <td style="width: 0.5in;">2.1</td> <td style="text-align: justify;">Basis of preparation</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Applied IFRS</p> <p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">The unaudited interim condensed consolidated financial statements of ADSE for the six months ended June 30, 2026, have been prepared in accordance with IAS 34 - <i>Interim Financial Reporting</i>. They do not include all disclosures that would otherwise be required in a complete set of financial statements and should be read in conjunction <span style="font-family: Times New Roman, Times, Serif;">with the Company’s last annual financial statements as at and for the </span>year ended December 31, 2025 <span style="font-family: Times New Roman, Times, Serif;">(“last annual financial statements”). </span>However, selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in ADSE<span style="font-family: Times New Roman, Times, Serif;">’s financial position </span>and performance since the last annual financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0;">ADSE<span style="font-family: Times New Roman, Times, Serif;">’s interim financial statements have been prepared on a going concern basis. The reporting periods are the six months ended June 30, 2026 and June 30, 2025. The interim financial </span>statements are presented in Euro, which is the functional currency of ADSE. All amounts have been rounded to the nearest thousand, unless otherwise indicated. In some cases, rounding could mean that values in this report do not add up to the exact sum given or percentages do not equal the values presented.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;" width="100%"><tbody><tr style="vertical-align: top;"><td style="width: 0;"></td> <td style="width: 0.5in;">2.2</td> <td style="text-align: justify;">Material uncertainty regarding the ability to continue as a going concern</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> Management assessed the Company’s ability to continue as a going concern and evaluated whether there are certain conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern using all information available about the future, focusing on the twelve-month period after the issuance date of the financial statements. Historically, the Company has funded its operations primarily through capital raises and shareholder loans. Since its inception, the Company has incurred recurring losses and negative cash flows from operations, including net losses of kEUR 42,025 for the first half of financial year 2026, kEUR 55,878 for the financial year 2025 and kEUR 97,959 for the financial year 2024. The Company has decreased its inventory stock from kEUR 63,666 as of December 31, 2024 to kEUR 51,010 as of December 31, 2025 and to kEUR 48,818 as of June 30, 2026. In the first half of the financial year 2026 the Company has significantly decreased its long-term and short-term loans and payables position in total (2024: kEUR 126,381 and kEUR 61,834; 2025: kEUR 59,184 and kEUR 41,609; HY 2026: kEUR 27,276 and kEUR 46,560). </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> For the fiscal years 2024 and 2025, the revenue stream “Charging” mainly includes the production and delivery of ChargeBox (CBX) and ChargePost (CPT). Revenue from the CBX and CPT is recognized once the product is transferred to the customer. In 2025, revenues from this stream declined to 83.8 Mio. EUR, or 82%, compared to 2024, primarily due to the insolvency of a key customer in the EV-charging hardware business. In addition, some customers did not manage to roll out their stock and did not generate new demand. Management consequently revised its strategy and began targeting customers that purchase smaller packages containing fewer units. Customers initially test these units before expanding their installed base, resulting in smaller orders spread over a longer period. In parallel, management began using chargers held in inventory to launch an Own &amp; Operate business model that generates revenue from charging, advertising and energy management, also offering this model to customers. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> The revenue stream “Service” increased by EUR 4.7 million, or 83%, from the year ended December 31, 2024, to December 31, 2025, reflecting continued expansion of the installed base and demonstrating the growing contribution of recurring revenue streams. This development continued in 2026 with service revenue amounting to EUR 4.5 million in the first half of financial year 2026. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> Finally, the revenue stream “Commercial and industrial” in fiscal year 2024 and 2025 includes the delivery of a large-scale modular battery storage solution. Revenues in this business line increased in 2025 by kEUR 513, or 31%, compared to 2024, primarily due to the timing of project execution. The “Commercial and industrial” business line only began generating commercial activity in the second half of 2025, and as a result, many projects were still in the early stages of delivery or had not yet progressed to revenue recognition by year-end. While the Company has approximately EUR 156 million in pending project proposals and has established an order backlog of approximately EUR 18 million, revenues from these projects are expected to be recognized in future periods as delivery progresses. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">During the first half of 2026, the Company completed several transactions that enhanced its capital structure. These transactions included the acquisition and partial cancellation of warrants related to convertible notes, the repricing and exercise of certain warrants related to shareholder loans, and the issuance and partial exercise of subscription rights by certain investors. As a result, the Company significantly reduced its warrant exposure and strengthened its equity position.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company plans to intensify sales efforts across Europe and the US with new staff and reduce working capital. In addition, the Company will continue to invest in the development, redesign and cost-optimization programs for existing and new products as well as further productivity increases in operations and continue to expand its business model into a full-service provider model, enabling multi-revenue streams including ultra-fast charging, energy trading and advertising. As of the date of this report, the Company has installed 16 CPT units under its Own &amp; Operate model, which have started generating sales from charging and advertising.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> As of June 30, 2026, the Company has total available credit lines from shareholders of EUR 56.4 million, of which EUR 41.1 million undrawn. The maturity of the loans was extended to July 2027. The Company’s business plan assumes drawings of EUR 30 million and forecasts that the Company will maintain positive cash availability throughout the upcoming 12 months. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> The Company is advancing the development of the large-scale battery project to ready-to-build (“RTB”), which we expect to achieve in Q4 2026. Thereafter, the Company intends to seek an equity investor to sell up to 51% of the project. We are in talks with multiple parties. Management and its advisers are constantly monitoring the relevant equity and debt capital markets that are relevant to the Company. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">There can be no assurance that the Company will be successful in achieving its operational and strategic plans or that any additional financing will be available in a timely manner or on acceptable terms.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Even though the Company deems a successful business development and an improvement in cash flow generation and operating result to be very likely, the Company has concluded, based on its recurring losses from operations since inception, that there is still substantial doubt about its ability to continue as a going concern, as cash flows generated by its operating activities may deviate significantly from the Company’s forecast and its ability to secure additional financing is uncertain. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Accordingly, the financial statements have been prepared on a basis that assumes the Company will continue as a going concern and contemplates the realization of assets and satisfaction of liabilities and commitments in the ordinary course of business.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;" width="100%"><tbody><tr style="vertical-align: top;"><td style="width: 0;"></td> <td style="width: 0.5in;">2.3</td> <td style="text-align: justify;">New accounting standards and interpretations</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">ADSE applied all effective standards and interpretations issued by the IASB and the IFRS IC in the preparation of the consolidated financial statements where their application was required for annual periods beginning on or after January 1, 2026. However, none of the new accounting standards had an impact on ADSE, as they were either not relevant to ADSE’s activities or did not require accounting treatment inconsistent with ADSE’s current accounting policies.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">New accounting standards and amendments to standards or interpretations effective as of January 1, 2026:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom; background-color: White;"><td style="border-bottom: Black 1.5pt solid; width: 16%; font-weight: bold;">Standard</td> <td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="text-align: center; border-bottom: Black 1.5pt solid; width: 67%; font-weight: bold;">Name</td> <td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; width: 15%; font-weight: bold; text-align: center;">Effective date</td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt;">IFRS 9 &amp; IFRS 7</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left; padding-bottom: 1.5pt;">Amendments to IFRS 9 and IFRS 7 - Financial Instruments: Classification and measurement of financial instruments</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt;">Jan. 01, 2026</td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt;">IFRS 9 &amp; IFRS 7</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left; padding-bottom: 1.5pt;">Amendments to IFRS 9 and IFRS 7 - Financial Instruments: Contracts referencing nature-dependent electricity</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt;">Jan. 01, 2026</td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The standards and amendments to standards and interpretations below have been published by the IASB but are not mandatorily effective for annual periods beginning on or after January 1, 2026. ADSE has therefore not early adopted them.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom; background-color: White;"><td style="border-bottom: Black 1.5pt solid; width: 16%; font-weight: bold;">Standard</td> <td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="text-align: center; border-bottom: Black 1.5pt solid; width: 67%; font-weight: bold;">Name</td> <td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; width: 15%; font-weight: bold; text-align: center;">Effective date</td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="padding-bottom: 1.5pt;">IFRS 18</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left; padding-bottom: 1.5pt;">Presentation and Disclosure in Financial Statements</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: center; padding-bottom: 1.5pt;">Jan. 01, 2027</td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="padding-bottom: 1.5pt;">IFRS 19</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left; padding-bottom: 1.5pt;">Subsidiaries without Public Accountability: Disclosures</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: center; padding-bottom: 1.5pt;">Jan. 01, 2027</td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">On April 09, 2024, the IASB published IFRS 18 – Presentation and Disclosure in Financial Statements, which is effective for periods beginning on or after January 1, 2027. ADSE is currently analyzing the expected impact of the initial application of IFRS 18. Other accounting standards issued by the IASB that are not yet applied or that become effective in the future are not expected to have a material impact on the consolidated financial statements.</p> <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;" width="100%"><tbody><tr style="vertical-align: top;"><td style="width: 0;"></td> <td style="width: 0.5in;">2.1</td> <td style="text-align: justify;">Basis of preparation</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Applied IFRS</p> <p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">The unaudited interim condensed consolidated financial statements of ADSE for the six months ended June 30, 2026, have been prepared in accordance with IAS 34 - <i>Interim Financial Reporting</i>. They do not include all disclosures that would otherwise be required in a complete set of financial statements and should be read in conjunction <span style="font-family: Times New Roman, Times, Serif;">with the Company’s last annual financial statements as at and for the </span>year ended December 31, 2025 <span style="font-family: Times New Roman, Times, Serif;">(“last annual financial statements”). </span>However, selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in ADSE<span style="font-family: Times New Roman, Times, Serif;">’s financial position </span>and performance since the last annual financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0;">ADSE<span style="font-family: Times New Roman, Times, Serif;">’s interim financial statements have been prepared on a going concern basis. The reporting periods are the six months ended June 30, 2026 and June 30, 2025. The interim financial </span>statements are presented in Euro, which is the functional currency of ADSE. All amounts have been rounded to the nearest thousand, unless otherwise indicated. In some cases, rounding could mean that values in this report do not add up to the exact sum given or percentages do not equal the values presented.</p> <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;" width="100%"><tbody><tr style="vertical-align: top;"><td style="width: 0;"></td> <td style="width: 0.5in;">2.2</td> <td style="text-align: justify;">Material uncertainty regarding the ability to continue as a going concern</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> Management assessed the Company’s ability to continue as a going concern and evaluated whether there are certain conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern using all information available about the future, focusing on the twelve-month period after the issuance date of the financial statements. Historically, the Company has funded its operations primarily through capital raises and shareholder loans. Since its inception, the Company has incurred recurring losses and negative cash flows from operations, including net losses of kEUR 42,025 for the first half of financial year 2026, kEUR 55,878 for the financial year 2025 and kEUR 97,959 for the financial year 2024. The Company has decreased its inventory stock from kEUR 63,666 as of December 31, 2024 to kEUR 51,010 as of December 31, 2025 and to kEUR 48,818 as of June 30, 2026. In the first half of the financial year 2026 the Company has significantly decreased its long-term and short-term loans and payables position in total (2024: kEUR 126,381 and kEUR 61,834; 2025: kEUR 59,184 and kEUR 41,609; HY 2026: kEUR 27,276 and kEUR 46,560). </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> For the fiscal years 2024 and 2025, the revenue stream “Charging” mainly includes the production and delivery of ChargeBox (CBX) and ChargePost (CPT). Revenue from the CBX and CPT is recognized once the product is transferred to the customer. In 2025, revenues from this stream declined to 83.8 Mio. EUR, or 82%, compared to 2024, primarily due to the insolvency of a key customer in the EV-charging hardware business. In addition, some customers did not manage to roll out their stock and did not generate new demand. Management consequently revised its strategy and began targeting customers that purchase smaller packages containing fewer units. Customers initially test these units before expanding their installed base, resulting in smaller orders spread over a longer period. In parallel, management began using chargers held in inventory to launch an Own &amp; Operate business model that generates revenue from charging, advertising and energy management, also offering this model to customers. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> The revenue stream “Service” increased by EUR 4.7 million, or 83%, from the year ended December 31, 2024, to December 31, 2025, reflecting continued expansion of the installed base and demonstrating the growing contribution of recurring revenue streams. This development continued in 2026 with service revenue amounting to EUR 4.5 million in the first half of financial year 2026. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> Finally, the revenue stream “Commercial and industrial” in fiscal year 2024 and 2025 includes the delivery of a large-scale modular battery storage solution. Revenues in this business line increased in 2025 by kEUR 513, or 31%, compared to 2024, primarily due to the timing of project execution. The “Commercial and industrial” business line only began generating commercial activity in the second half of 2025, and as a result, many projects were still in the early stages of delivery or had not yet progressed to revenue recognition by year-end. While the Company has approximately EUR 156 million in pending project proposals and has established an order backlog of approximately EUR 18 million, revenues from these projects are expected to be recognized in future periods as delivery progresses. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">During the first half of 2026, the Company completed several transactions that enhanced its capital structure. These transactions included the acquisition and partial cancellation of warrants related to convertible notes, the repricing and exercise of certain warrants related to shareholder loans, and the issuance and partial exercise of subscription rights by certain investors. As a result, the Company significantly reduced its warrant exposure and strengthened its equity position.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company plans to intensify sales efforts across Europe and the US with new staff and reduce working capital. In addition, the Company will continue to invest in the development, redesign and cost-optimization programs for existing and new products as well as further productivity increases in operations and continue to expand its business model into a full-service provider model, enabling multi-revenue streams including ultra-fast charging, energy trading and advertising. As of the date of this report, the Company has installed 16 CPT units under its Own &amp; Operate model, which have started generating sales from charging and advertising.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> As of June 30, 2026, the Company has total available credit lines from shareholders of EUR 56.4 million, of which EUR 41.1 million undrawn. The maturity of the loans was extended to July 2027. The Company’s business plan assumes drawings of EUR 30 million and forecasts that the Company will maintain positive cash availability throughout the upcoming 12 months. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> The Company is advancing the development of the large-scale battery project to ready-to-build (“RTB”), which we expect to achieve in Q4 2026. Thereafter, the Company intends to seek an equity investor to sell up to 51% of the project. We are in talks with multiple parties. Management and its advisers are constantly monitoring the relevant equity and debt capital markets that are relevant to the Company. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">There can be no assurance that the Company will be successful in achieving its operational and strategic plans or that any additional financing will be available in a timely manner or on acceptable terms.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Even though the Company deems a successful business development and an improvement in cash flow generation and operating result to be very likely, the Company has concluded, based on its recurring losses from operations since inception, that there is still substantial doubt about its ability to continue as a going concern, as cash flows generated by its operating activities may deviate significantly from the Company’s forecast and its ability to secure additional financing is uncertain. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Accordingly, the financial statements have been prepared on a basis that assumes the Company will continue as a going concern and contemplates the realization of assets and satisfaction of liabilities and commitments in the ordinary course of business.</p> -42025000 55878000 97959000 63666000 51010000 48818000 126381000 61834000 59184000 41609000 27276000 46560000 83800 0.82 4700000 0.83 4500000 513000 0.31 156000000 18000000 56400000 41100000 30000000 0.51 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;" width="100%"><tbody><tr style="vertical-align: top;"><td style="width: 0;"></td> <td style="width: 0.5in;">2.3</td> <td style="text-align: justify;">New accounting standards and interpretations</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">ADSE applied all effective standards and interpretations issued by the IASB and the IFRS IC in the preparation of the consolidated financial statements where their application was required for annual periods beginning on or after January 1, 2026. However, none of the new accounting standards had an impact on ADSE, as they were either not relevant to ADSE’s activities or did not require accounting treatment inconsistent with ADSE’s current accounting policies.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">New accounting standards and amendments to standards or interpretations effective as of January 1, 2026:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom; background-color: White;"><td style="border-bottom: Black 1.5pt solid; width: 16%; font-weight: bold;">Standard</td> <td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="text-align: center; border-bottom: Black 1.5pt solid; width: 67%; font-weight: bold;">Name</td> <td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; width: 15%; font-weight: bold; text-align: center;">Effective date</td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt;">IFRS 9 &amp; IFRS 7</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left; padding-bottom: 1.5pt;">Amendments to IFRS 9 and IFRS 7 - Financial Instruments: Classification and measurement of financial instruments</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt;">Jan. 01, 2026</td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt;">IFRS 9 &amp; IFRS 7</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left; padding-bottom: 1.5pt;">Amendments to IFRS 9 and IFRS 7 - Financial Instruments: Contracts referencing nature-dependent electricity</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt;">Jan. 01, 2026</td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The standards and amendments to standards and interpretations below have been published by the IASB but are not mandatorily effective for annual periods beginning on or after January 1, 2026. ADSE has therefore not early adopted them.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom; background-color: White;"><td style="border-bottom: Black 1.5pt solid; width: 16%; font-weight: bold;">Standard</td> <td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="text-align: center; border-bottom: Black 1.5pt solid; width: 67%; font-weight: bold;">Name</td> <td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; width: 15%; font-weight: bold; text-align: center;">Effective date</td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="padding-bottom: 1.5pt;">IFRS 18</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left; padding-bottom: 1.5pt;">Presentation and Disclosure in Financial Statements</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: center; padding-bottom: 1.5pt;">Jan. 01, 2027</td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="padding-bottom: 1.5pt;">IFRS 19</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left; padding-bottom: 1.5pt;">Subsidiaries without Public Accountability: Disclosures</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: center; padding-bottom: 1.5pt;">Jan. 01, 2027</td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">On April 09, 2024, the IASB published IFRS 18 – Presentation and Disclosure in Financial Statements, which is effective for periods beginning on or after January 1, 2027. ADSE is currently analyzing the expected impact of the initial application of IFRS 18. Other accounting standards issued by the IASB that are not yet applied or that become effective in the future are not expected to have a material impact on the consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">New accounting standards and amendments to standards or interpretations effective as of January 1, 2026:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom; background-color: White;"><td style="border-bottom: Black 1.5pt solid; width: 16%; font-weight: bold;">Standard</td> <td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="text-align: center; border-bottom: Black 1.5pt solid; width: 67%; font-weight: bold;">Name</td> <td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; width: 15%; font-weight: bold; text-align: center;">Effective date</td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt;">IFRS 9 &amp; IFRS 7</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left; padding-bottom: 1.5pt;">Amendments to IFRS 9 and IFRS 7 - Financial Instruments: Classification and measurement of financial instruments</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt;">Jan. 01, 2026</td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt;">IFRS 9 &amp; IFRS 7</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left; padding-bottom: 1.5pt;">Amendments to IFRS 9 and IFRS 7 - Financial Instruments: Contracts referencing nature-dependent electricity</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt;">Jan. 01, 2026</td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The standards and amendments to standards and interpretations below have been published by the IASB but are not mandatorily effective for annual periods beginning on or after January 1, 2026. ADSE has therefore not early adopted them.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom; background-color: White;"><td style="border-bottom: Black 1.5pt solid; width: 16%; font-weight: bold;">Standard</td> <td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="text-align: center; border-bottom: Black 1.5pt solid; width: 67%; font-weight: bold;">Name</td> <td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; width: 15%; font-weight: bold; text-align: center;">Effective date</td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="padding-bottom: 1.5pt;">IFRS 18</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left; padding-bottom: 1.5pt;">Presentation and Disclosure in Financial Statements</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: center; padding-bottom: 1.5pt;">Jan. 01, 2027</td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="padding-bottom: 1.5pt;">IFRS 19</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left; padding-bottom: 1.5pt;">Subsidiaries without Public Accountability: Disclosures</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: center; padding-bottom: 1.5pt;">Jan. 01, 2027</td> </tr></tbody></table> Amendments to IFRS 9 and IFRS 7 - Financial Instruments: Classification and measurement of financial instruments Jan. 01, 2026 Amendments to IFRS 9 and IFRS 7 - Financial Instruments: Contracts referencing nature-dependent electricity Jan. 01, 2026 Presentation and Disclosure in Financial Statements Jan. 01, 2027 Subsidiaries without Public Accountability: Disclosures Jan. 01, 2027 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;" width="100%"><tbody><tr style="vertical-align: top;"><td style="width: 0;"></td> <td style="width: 0.5in;">3.</td> <td style="text-align: justify;">Significant events and transactions</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The following significant events and transactions have occurred since December 31, 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-weight: bold;">Shareholder loans</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">During the reporting period, the credit facilities under two shareholder loans were increased and the applicable interest rates were amended. Additional drawdowns were made under both facilities. Furthermore, the maturity dates of these two shareholder loans, as well as of an additional shareholder loan, were extended. Please refer to Note 4.2.7.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-weight: bold;">Repurchase of warrants related to convertible notes</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> In April 2026, Lucerne Capital Master Fund L.P. acquired the rights and warrants related to the May 1, 2025 financing through convertible notes agreements for cash consideration of kUSD 12,500. Subsequently, the Company and Lucerne Capital Master Fund entered into a cancellation agreement pursuant to which these rights and warrants were cancelled for total consideration of kUSD 12,557. As of June 30, 2026, the Company had made a partial payment of kUSD 5,000 (kEUR 4,245), resulting in the cancellation of 742,924 warrants, while 1,084,360 warrants remained outstanding. Please refer to Note 4.2.5. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-weight: bold;">Exercise of warrants</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> Following a reduction of the exercise price from USD 6.20 to USD 1.00 per share on April 9, 2026, 5,172,045 Warrants relating to shareholder loans were exercised, generating proceeds of kUSD 5,172 and resulting in the issuance of 5,172,045 Ordinary Shares. In addition, 40,859 public warrants were exercised during the first half of fiscal year 2026, generating cash proceeds of kUSD 470. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> As a result, the carrying value of the Company’s warrant liability decreased from kEUR 54,809 as of December 31, 2025, to kEUR 11,396 as of June 30, 2026. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Please refer to Note 4.2.5.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-weight: bold;">Issue of Subscription Rights</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> In May 2026, the Company entered into subscription agreements with certain investors, pursuant to which the Company agreed to issue non-transferable subscription rights to purchase up to an aggregate of 11,324,000 Ordinary Shares at an exercise price of $1.00 per Ordinary Share, in exchange for support in connection with the Company’s efforts to simplify its capital structure. On May 8, 2026, and May 28, 2026, investors exercised their rights to subscribe for 9,324,000 Ordinary Shares. As of June 30, 2026, 2,000,000 Ordinary Shares remain outstanding and are exercisable until December 31, 2029. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> The Company received gross proceeds of kUSD 9.324 (kEUR 7,947) from the exercise of the subscription rights. The Company intends to use the proceeds for general corporate purposes, which may include working capital, capital expenditure, and other business investments. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Please refer to Note 4.2.4.</p> 12500000 12557000 5000000 4245000 742924000 1084360000 6.2 1 5172045 5172000 5172045 40859 470000 54809000 11396000 11324000 1 9324000 9324000 2000000 9324 7947000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;" width="100%"><tbody><tr style="vertical-align: top;"><td style="width: 0;"></td> <td style="width: 0.5in;">4.</td> <td style="text-align: justify;">Disclosure on individual items of the consolidated financial statements</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;" width="100%"><tbody><tr style="vertical-align: top;"><td style="width: 0;"></td> <td style="width: 0.5in;">4.1</td> <td style="text-align: justify;">Statements of comprehensive income</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;" width="100%"><tbody><tr style="vertical-align: top;"><td style="width: 0;"></td> <td style="width: 0.5in;">4.1.1</td> <td>Revenue and functional costs from contracts with customers</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-weight: bold;">Revenue</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">ADSE develops, produces, and distributes battery storage solutions for different areas of application (“multi-use-case”). The product portfolio encompasses the field of “Charging”, which provides charging solutions for the expansion of e-mobility infrastructure at power-limited network points; the field of ‘Battery Energy Storage Systems’ (‘BESS’), which covers commercial, industrial and infrastructure applications; and the field of ‘Own &amp; Operate’ (‘O&amp;O’), which includes charging, energy trading and other energy-related services. Additionally, ADSE provides its customers with software solutions for intelligent control and monitoring of battery storage solutions. Service revenues include service contracts available for separate purchase or maintenance services. Other revenues relate to miscellaneous income generated in connection with the different revenue streams.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> In the first half of the year 2026, 61.8% of revenue was generated from Service. In the prior year period, Charging was the largest revenue stream, contributing 67.1% of total revenue. The following table presents the revenue from contracts with customers disaggregated by revenue stream: </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td><span style="font-weight: bold;">Revenue by revenue streams</span></td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">For the six months ended<br/> June 30,</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom;"><td style="border-bottom: Black 1.5pt solid; font-weight: bold;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 76%;">Service</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">4,541</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">4,623</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td>Charging</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">2,383</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">9,804</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">Own &amp; Operate</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">132</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_768201915;">-</span></td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Battery Energy Storage System</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">73</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">103</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="padding-bottom: 1.5pt;">Other</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">223</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">85</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; padding-bottom: 4pt;">Total</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">7,352</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">14,614</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Cost of goods sold</p> <p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%;"> <tbody><tr style="vertical-align: bottom;"><td> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">For the six months ended<br/> June 30,</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom;"><td style="border-bottom: Black 1.5pt solid; font-weight: bold;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 76%; text-align: left;">Personnel expenses</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">5,440</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">5,468</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td>Cost of materials</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">4,156</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">12,307</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">Depreciation and amortization</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">3,290</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">2,904</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt;">Other expenses</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">1,313</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">599</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; padding-bottom: 4pt;">Total</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">14,198</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">21,277</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Selling, general and administrative expenses</p> <p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">For the six months ended<br/> June 30,</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 76%; text-align: left;">Personnel expenses</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">5,696</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">5,755</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Legal and consulting fees</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">2,522</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">5,004</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">Administration fee</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,683</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,837</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Insurance expenses</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,176</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,208</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">Marketing costs</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">485</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">760</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Depreciation and amortization</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">391</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">354</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt;">Other expenses</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">3,233</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">3,705</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; padding-bottom: 4pt;">Total</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">15,187</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">18,624</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">Other expenses primarily consist of expenses for general warranties, travel costs, IT and logistics costs.</p> <p style="margin-top: 0; margin-bottom: 0;"> </p> <p style="margin-top: 0; margin-bottom: 0;"></p> <p style="margin-top: 0; margin-bottom: 0;"> </p> <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;" width="100%"><tbody><tr style="vertical-align: top;"><td style="width: 0;"></td> <td style="width: 0.5in;">4.1.2</td> <td>Finance result</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The finance income and expenses recognized in profit or loss are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">For the six months ended<br/> June 30,</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 76%; text-align: left;">Finance income from remeasurement of warrant liabilities</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">13,794</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">24,909</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Foreign currency gains</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">2,956</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">13,833</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt;">Income from other interest and similar income</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">1</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">1</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt;">Finance income</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">16,751</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">38,743</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">Finance expense from remeasurement of warrant liabilities</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-28,898</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-122</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Interest expense from shareholder loans</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-786</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-19,332</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">Interest expense from convertible note</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_1177069901;">-</span></td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-1,633</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Foreign currency losses</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-3,006</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-2,450</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">Interest expense from leasing</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-73</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-71</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Interest expense from guarantee commissions</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_817055166;">-</span></td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-5</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt;">Other interest expense</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_933259095;">-</span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_699493771;">-</span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt;">Finance expenses</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-32,763</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-23,613</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt;">Net finance result</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-16,012</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">15,130</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> Finance income from remeasurement of warrant liabilities in the first half of 2026 in the amount of kEUR 13,794 (2025: kEUR 24,909) resulted from the remeasurement of the fair value of public and private warrant liabilities, warrant liabilities from shareholder loans and warrant liabilities from the convertible notes and was caused by a decline in ADSE’s share price. The foreign currency gains mainly resulted from the valuation of the warrants which are denominated in USD. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> In the first half of 2026, finance expense from remeasurement of warrant liabilities in the amount of kEUR 28,898 resulted from the remeasurement of the fair value of public and private warrant liabilities, warrant liabilities from shareholder loans and warrant liabilities from capital increases. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> In 2026, interest expenses from shareholder loans amounted to kEUR 786 (2025: kEUR 19,332). This resulted mainly from the effective interest of the shareholder loan. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;" width="100%"><tbody><tr style="vertical-align: top;"><td style="width: 0;"></td> <td style="width: 0.5in;">4.2</td> <td style="text-align: justify;">Statements of financial position</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;" width="100%"><tbody><tr style="vertical-align: top;"><td style="width: 0;"></td> <td style="width: 0.5in;">4.2.1</td> <td>Other investments and other assets</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Other investments and other assets include the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">June 30,<br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Dec. 31,<br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 76%; text-align: left;">Other investments</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">859</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">6</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt;">Other assets</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">137</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">137</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; padding-bottom: 4pt;">Total</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">996</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">144</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> Other investments include the interests in SKM Speicherkraftwerk Markgröningen GmbH &amp; Co. KG (SKM KG) and in SKM Markgröningen Verwaltungs-GmbH (SKM VW) with a carrying amount of kEUR 32. SKM KG and SKM VW were acquired as shelf companies on March 23, 2026. The purpose of SKM KG is the planning, acquisition, development, construction, and operation of energy storage power plants, as well as the marketing and commercial exploitation of such facilities. SKM VW serves as the general partner and assumes management and representation of the GmbH &amp; Co. KG. As of June 30, 2026, SKM KG did not commence any significant business activities. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> Other investments also include a 33% interest in Speicheranlagenbetreibergesellschaft mbH, Nürtingen with a carrying amount of kEUR 820. Speicheranlagenbetreibergesellschaft mbH was established by ADSE GM and two other partners on May 28, 2026, to implement an energy storage project for the City of Nürtingen. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> Other assets include a deposit for a rental building amounting to kEUR 137 (December 31, 2025: kEUR 137). </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;" width="100%"><tbody><tr style="vertical-align: top;"><td style="width: 0;"></td> <td style="width: 0.5in;">4.2.2</td> <td>Inventories</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Inventories include the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Jun. 30,<br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Dec. 31,<br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 76%; text-align: left;">Finished goods</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">28,260</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">30,950</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Work in progress</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">3,467</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">5,019</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt;">Raw materials</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">44,278</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">42,230</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; padding-bottom: 4pt;">Total</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">76,006</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">78,198</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Jun. 30,<br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Dec. 31,<br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 76%; text-align: left;">Write-downs finished goods</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">-9,206</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">-9,206</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Write-downs work in progress</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-1,318</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-1,318</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt;">Write-downs raw materials</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-16,664</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-16,664</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; padding-bottom: 4pt;">Total</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-27,188</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-27,188</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> During the first half of 2026, ADSE recognized write-downs of inventories in an amount of kEUR 0 as an expense in the cost of sales in the statement of profit or loss. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;" width="100%"><tbody><tr style="vertical-align: top;"><td style="width: 0;"></td> <td style="width: 0.5in;">4.2.3</td> <td>Other accrued items</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">As of December 31, 2025, other accrued items included lender warrants for which the exercise conditions had not been met, as the related shareholder loans had not been drawn down. The lender warrants were initially recognized at their fair value on the grant date, adjusted for a 5% probability of drawdown of the related shareholder loans based on management’s assessment and ADSE’s projected cash flow requirements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Following the restructuring of ADSE’s shareholder loans (please also refer to Note 4.2.7), management has concluded that these shareholder loans are no longer expected to be drawn down in the future. Consequently, other accrued items relating to the lender warrants were derecognized.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;" width="100%"><tbody><tr style="vertical-align: top;"><td style="width: 0;"></td> <td style="width: 0.5in;">4.2.4</td> <td>Equity</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The changes in the various components of equity are shown in ADSE’s statements of changes in equity for the past two half-year periods.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The issued and outstanding shares as of June 30, 2026, and as of June 30, 2025, are shown in the table below.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">in k units</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 76%;">Outstanding as of Jan. 01</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">60,436</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">52,362</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td>Exercise of warrants</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">5,213</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">2,469</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td>Exercise of options</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_285171889;">-</span></td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">47</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td>Share based compensation</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">29</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">26</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">Conversion from convertible note</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_1769308389;">-</span></td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">922</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="padding-bottom: 1.5pt;">Share subscription</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">9,324</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_831356211;">-</span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold;">Outstanding as of Jun. 30</td> <td style="font-weight: bold;"> </td> <td style="font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; text-align: right;">75,002</td> <td style="font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold;"> </td> <td style="font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; text-align: right;">55,826</td> <td style="font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="padding-bottom: 1.5pt;">Treasury shares</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">80</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">80</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt;">Issued and outstanding as of Jun. 30</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">75,082</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">55,906</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> In the first half of financial year 2025, the exercise of public, private and shareholder warrants increased the number of outstanding shares by 2,468,837 shares and led to an increase in capital reserves of kEUR 34,168. Moreover, the conversion of debt from the convertible note into equity resulted in an issue of 922,195 shares which increased the capital reserve by kEUR 7,011. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> In the first half of financial year 2026, 5,212,904 public warrants and warrants related to shareholder loans were exercised, which led to an increase in capital reserves of kEUR 52,179. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> On May 8, 2026, and May 28, 2026, the Company granted non-transferable subscription rights to certain investors to purchase up to an aggregate of 11,324,000 Ordinary Shares at an exercise price of USD 1.00 per Ordinary Share, in exchange for support in connection with the Company’s efforts to simplify its capital structure. On May 8, 2026, 6,324,000 Ordinary Shares were exercised, and on May 28, 2026, a further 3,000,000 Ordinary Shares were exercised. As of June 30, 2026, 2,000,000 Ordinary Shares remain outstanding and are exercisable until December 31, 2029. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> Based on management’s judgment, the transaction qualifies as an equity transaction with owners acting in their capacity as owners and therefore falls within the scope of IAS 1.109. In accordance with IAS 1.109, transactions with owners in their capacity as owners are recognized directly in equity and do not affect profit or loss. Consequently, the fair value of the subscription rights at the grant date, amounting to kEUR 100,319 (kUSD 117,328), was recognized within capital reserves, with a corresponding reduction of retained earnings. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> Upon the exercise of the subscription rights, the Company received gross cash proceeds of kEUR 7,947 (kUSD 9,324). Net of transaction costs recognized directly in equity, the exercise of the subscription rights resulted in an increase of share capital of EUR 798 and an increase in capital reserves of kEUR 7,852. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;" width="100%"><tbody><tr style="vertical-align: top;"><td style="width: 0;"></td> <td style="width: 0.5in;">4.2.5</td> <td>Warrant liabilities</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">As of the reporting date, warrant liabilities include the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">No. of warrants issued</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Jun. 30,<br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 76%; text-align: left;">Public warrants</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">5,006,836</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">2,645</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Private warrants</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">2,773,255</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">3,042</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt;">Warrants relating to shareholder loans</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">3,466,668</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">5,709</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; padding-bottom: 4pt;">Total</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">11,246,759</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">11,396</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">As of December 31, 2025, warrant liabilities included the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">No. of warrants issued</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Dec. 31, <br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 76%; text-align: left;">Public warrants</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">5,047,695</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">5,112</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Private warrants</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">2,773,255</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">3,061</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">Warrants relating to shareholder loans</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">8,638,713</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">35,376</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt;">Warrants relating to Convertible Note</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">1,827,284</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">11,259</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; padding-bottom: 4pt;">Total</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">18,286,947</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">54,808</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-weight: bold;">Public and private warrants</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> As of June 30, 2026, the fair value of public and private warrant liabilities amounts to kEUR 5,687 (December 31, 2025: kEUR 8,173) and relates to 5,006,836 public warrants and 2,773,255 private warrants including 100,000 lender warrants issued. In comparison to December 31, 2025, 40,859 public warrants were exercised at an exercise price of 11,50 USD per warrant. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-weight: bold;">Warrants relating to shareholder loans</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> On April 9, 2026, the Company issued a Warrant Adjustment Notice to The Lucerne Capital Master Fund, L.P. and The Lucerne Capital Special Opportunity Fund, Ltd. (together, “Lucerne”), reducing the exercise price of the amended and restated warrants dated August 26, 2024 (the “Lucerne Warrants”) from $6.20 to $1.00 per share. Thereafter, Lucerne exercised all 5,172,045 outstanding Lucerne Warrants for aggregate proceeds of kUSD 5,172, and the Company issued 5,172,045 Ordinary Shares to Lucerne, consisting of 5,105,379 shares to Lucerne Master Fund and 66,666 shares to Lucerne Special Opportunity Fund. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-weight: bold;">Warrants relating to convertible note</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> Lucerne Master Fund acquired from Alto Opportunity Master Fund SPC – Master Segregated Portfolio B (“Ayrton”), AEMF SPV LLC and AIMF SPV LLC (together, “Anson”) all of their respective rights under that certain Securities Purchase Agreement, dated May 1, 2025, by and among the Company, Ayrton and Anson (the “Ayrton/Anson SPA”), together with the warrants issued thereunder (the “Ayrton/Anson Warrants”), pursuant to (i) a Warrant Purchase Agreement between Lucerne Master Fund and Ayrton dated April 6, 2026, and (ii) Securities Purchase Agreements between Lucerne Master Fund and each of AEMF SPV LLC and AIMF SPV LLC, each dated April 2, 2026, for aggregate cash consideration of kUSD 12,500. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> Subsequently, the Company and Lucerne Master Fund entered into a cancellation agreement, pursuant to which Lucerne Master Fund has agreed that rights under the Ayrton/Anson SPA and the Ayrton/Anson Warrants previously acquired by Lucerne Master Fund will be cancelled in consideration of a total cash payment by the Company to Lucerne Master Fund in an amount of kUSD 12,557. Until June 30, 2026, the Company made a partial payment of kUSD 5,000 (kEUR 4,245) towards this obligation. As a result, 742,924 Ayrton/Anson Warrants were cancelled while 1,084,360 warrants remain outstanding. The remaining obligation of kUSD 7,557 (kEUR 6,490) is included in trade and other payables. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;" width="100%"><tbody><tr style="vertical-align: top;"><td style="width: 0;"></td> <td style="width: 0.5in;">4.2.6</td> <td>Trade and other payables</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Trade and other payables include the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">June 30,<br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Dec. 31,<br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 76%; text-align: left;">Trade payables</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">11,096</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">16,731</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Sales tax liabilities</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">421</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">599</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">Accrued expenses</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">2,229</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">819</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Trade payables due to related parties</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,069</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,822</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">Other payables non-financial</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">357</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">561</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt;">Other payables financial</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">6,839</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">333</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; padding-bottom: 4pt;">Total</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">22,012</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">20,865</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Trade payables mainly consist of trade accounts payable and accruals for outstanding invoices.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Accrued expenses mainly relate to employee benefit accruals.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> Other payables financial includes the remaining obligation of kUSD 7.557 (kEUR 6.490) from the repurchase of warrants related to convertible notes. See also to Note 4.2.5. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;" width="100%"><tbody><tr style="vertical-align: top;"><td style="width: 0;"></td> <td style="width: 0.5in;">4.2.7</td> <td>Loans and borrowings</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> As of June 30, 2026, loans and borrowings include shareholder loans with a book value of kEUR 15,863 and interest payable of kEUR 17 (December 31, 2025: book value of kEUR 5,006 and interest payable of kEUR 5). The shareholder loans are classified as current loans and borrowings. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> In the first half of 2026, various tranches of one shareholder loan were combined into one tranche with an aggregate amount of kUSD 25,000, and the interest rate was increased from 10% p.a. to 11% p.a. Furthermore, the maturity date was extended from August 31, 2026, to July 31, 2027. As of the reporting date, the amount of kUSD 500 had been drawn. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> Furthermore, another shareholder loan was extended from March 31, 2026, to July 31, 2026. As of June 30, 2026, the nominal amount drawn under this shareholder loan amounted to kUSD 2,580. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> On February 25, 2026, another tranche of shareholder loans was amended, increasing the nominal amount from kEUR 5,000 to kEUR 32,500 and the fixed interest rate from 10% p.a. to 16% p.a. In addition, the maturity date of this shareholder loan was extended from June 30, 2026, to July 31, 2027. In the first half of 2026, ADSE drew kEUR 9,780 under this shareholder loan. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;" width="100%"><tbody><tr style="vertical-align: top;"><td style="width: 0;"></td> <td style="width: 0.5in;">4.2.8</td> <td>Financial instruments</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The following table provides the carrying amounts and fair values of all financial assets and financial liabilities, including their levels in the fair value hierarchy.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Classification</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Fair value<br/> hierarchy</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Carrying amount<br/> Jun. 30, <br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Fair value<br/> Jun. 30,<br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Carrying amount<br/> Dec. 31,<br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Fair value<br/> Dec. 31,<br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom;"><td style="padding-bottom: 1.5pt; font-weight: bold;">Financial assets</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: right;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: right;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td colspan="2" style="text-align: right;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td colspan="2" style="text-align: right;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td colspan="2" style="text-align: right;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td colspan="2" style="text-align: right;"> </td> <td style="padding-bottom: 1.5pt;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 30%; text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Cash and cash equivalents</td> <td style="width: 1%;"> </td> <td style="width: 15%; text-align: left;">At amortized cost</td> <td style="width: 1%;"> </td> <td style="width: 9%; text-align: center;">n/a</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 8%; text-align: right;">4,589</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 8%; text-align: right;">4,589</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 8%; text-align: right;">6,987</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 8%; text-align: right;">6,987</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Trade receivables (current)</td> <td> </td> <td style="text-align: left;">At amortized cost</td> <td> </td> <td style="text-align: center;">n/a</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">3,472</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">3,472</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">5,289</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">5,289</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Other investments (non-current)</td> <td> </td> <td style="text-align: left;">At amortized cost</td> <td> </td> <td style="text-align: center;">n/a</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">859</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">859</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">6</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">6</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Other financial receivables (current)</td> <td> </td> <td style="text-align: left;">At amortized cost</td> <td> </td> <td style="text-align: center;">n/a</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">200</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">200</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">903</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">903</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Other financial receivables (non-current)</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left; padding-bottom: 1.5pt;">At amortized cost</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: center; padding-bottom: 1.5pt;">n/a</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">26</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">26</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">25</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">25</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in;">Total</td> <td style="padding-bottom: 4pt;"> </td> <td style="text-align: right; padding-bottom: 4pt;"> </td> <td style="padding-bottom: 4pt;"> </td> <td style="text-align: right; padding-bottom: 4pt;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">9,146</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">9,146</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">13,212</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">13,212</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; text-align: left; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Classification</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Fair value<br/> hierarchy</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Carrying amount<br/> Jun. 30,<br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Fair value<br/> Jun. 30,<br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Carrying amount<br/> Dec. 31, <br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Fair value<br/> Dec. 31,<br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom;"><td style="padding-bottom: 1.5pt; font-weight: bold;">Financial liabilities</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: right;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: right;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td colspan="2" style="text-align: right;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td colspan="2" style="text-align: right;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td colspan="2" style="text-align: right;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td colspan="2" style="text-align: right;"> </td> <td style="padding-bottom: 1.5pt;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 30%; text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Warrant liabilities - private</td> <td style="width: 1%;"> </td> <td style="width: 15%;">FVTPL</td> <td style="width: 1%;"> </td> <td style="width: 9%; text-align: center;">3</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 8%; text-align: right;">3,042</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 8%; text-align: right;">3,042</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 8%; text-align: right;">3,061</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 8%; text-align: right;">3,061</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Warrant liabilities - public</td> <td> </td> <td>FVTPL</td> <td> </td> <td style="text-align: center;">1</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">2,645</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">2,645</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">5,112</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">5,112</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Warrant liabilities - Shareholder loan</td> <td> </td> <td>FVTPL</td> <td> </td> <td style="text-align: center;">3</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">5,708</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">5,708</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">35,376</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">35,376</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Warrant liabilities - Convertible Notes</td> <td> </td> <td>FVTPL</td> <td> </td> <td style="text-align: center;">3</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_1467525240;">-</span></td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_1068935746;">-</span></td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_937299303;">11,259</span></td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_1164243954;">11,259</span></td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Loans and borrowings (current)</td> <td> </td> <td style="text-align: left;">At amortized cost</td> <td> </td> <td style="text-align: center;">n/a</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">15,880</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">15,880</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">48,560</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">48,560</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Trade payables (current)</td> <td> </td> <td style="text-align: left;">At amortized cost</td> <td> </td> <td style="text-align: center;">n/a</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">11,096</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">11,096</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">16,731</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">16,731</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Trade payables due to related parties<br/> (current)</td> <td> </td> <td style="text-align: left;">At amortized cost</td> <td> </td> <td style="text-align: center;">n/a</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,069</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,069</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,822</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,822</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Lease liabilities (non-current)</td> <td> </td> <td style="text-align: left;">At amortized cost</td> <td> </td> <td style="text-align: center;">n/a</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,286</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_1858157824;">-</span></td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,866</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_296071456;">-</span></td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Lease liabilities (current)</td> <td> </td> <td style="text-align: left;">At amortized cost</td> <td> </td> <td style="text-align: center;">n/a</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,334</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_1439724677;">-</span></td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,322</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_434515213;">-</span></td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Other payables financial (current)</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left; padding-bottom: 1.5pt;">At amortized cost</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: center; padding-bottom: 1.5pt;">n/a</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">6,839</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">6,839</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">333</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">333</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in;">Total</td> <td style="padding-bottom: 4pt;"> </td> <td style="text-align: right; padding-bottom: 4pt;"> </td> <td style="padding-bottom: 4pt;"> </td> <td style="text-align: right; padding-bottom: 4pt;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">48,900</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">46,280</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">125,442</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">122,254</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The significant decrease in financial liabilities resulted from the exercise of warrants, the remaining obligation arising from the repurchase of warrants related to the convertible note (refer to Note 4.2.5), and the adjusted drawdown probability for shareholder loans (refer to Note 4.2.3).</p> 0.618 0.671 The following table presents the revenue from contracts with customers disaggregated by revenue stream:<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td><span style="font-weight: bold;">Revenue by revenue streams</span></td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">For the six months ended<br/> June 30,</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom;"><td style="border-bottom: Black 1.5pt solid; font-weight: bold;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 76%;">Service</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">4,541</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">4,623</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td>Charging</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">2,383</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">9,804</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">Own &amp; Operate</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">132</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_768201915;">-</span></td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Battery Energy Storage System</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">73</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">103</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="padding-bottom: 1.5pt;">Other</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">223</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">85</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; padding-bottom: 4pt;">Total</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">7,352</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">14,614</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> 4541000 4623000 2383000 9804000 132000 73000 103000 223000 85000 7352000 14614000 <p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Cost of goods sold</p> <p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%;"> <tbody><tr style="vertical-align: bottom;"><td> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">For the six months ended<br/> June 30,</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom;"><td style="border-bottom: Black 1.5pt solid; font-weight: bold;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 76%; text-align: left;">Personnel expenses</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">5,440</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">5,468</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td>Cost of materials</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">4,156</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">12,307</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">Depreciation and amortization</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">3,290</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">2,904</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt;">Other expenses</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">1,313</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">599</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; padding-bottom: 4pt;">Total</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">14,198</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">21,277</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> 5440000 5468000 4156000 12307000 3290000 2904000 1313000 599000 14198000 21277000 <p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Selling, general and administrative expenses</p> <p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">For the six months ended<br/> June 30,</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 76%; text-align: left;">Personnel expenses</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">5,696</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">5,755</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Legal and consulting fees</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">2,522</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">5,004</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">Administration fee</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,683</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,837</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Insurance expenses</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,176</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,208</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">Marketing costs</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">485</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">760</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Depreciation and amortization</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">391</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">354</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt;">Other expenses</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">3,233</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">3,705</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; padding-bottom: 4pt;">Total</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">15,187</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">18,624</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> 5696000 5755000 2522000 5004000 1683000 1837000 1176000 1208000 485000 760000 391000 354000 3233000 3705000 15187000 18624000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The finance income and expenses recognized in profit or loss are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">For the six months ended<br/> June 30,</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 76%; text-align: left;">Finance income from remeasurement of warrant liabilities</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">13,794</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">24,909</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Foreign currency gains</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">2,956</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">13,833</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt;">Income from other interest and similar income</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">1</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">1</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt;">Finance income</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">16,751</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">38,743</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">Finance expense from remeasurement of warrant liabilities</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-28,898</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-122</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Interest expense from shareholder loans</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-786</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-19,332</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">Interest expense from convertible note</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_1177069901;">-</span></td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-1,633</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Foreign currency losses</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-3,006</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-2,450</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">Interest expense from leasing</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-73</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-71</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Interest expense from guarantee commissions</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_817055166;">-</span></td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-5</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt;">Other interest expense</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_933259095;">-</span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_699493771;">-</span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt;">Finance expenses</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-32,763</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-23,613</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt;">Net finance result</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-16,012</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">15,130</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> 13794000 24909000 2956000 13833000 1000 1000 16751000 38743000 -28898000 -122000 786000 19332000 1633000 -3006000 -2450000 73000 71000 5000 -32763000 -23613000 -16012000 15130000 13794000 24909000 28898000 786000 19332000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Other investments and other assets include the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">June 30,<br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Dec. 31,<br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 76%; text-align: left;">Other investments</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">859</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">6</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt;">Other assets</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">137</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">137</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; padding-bottom: 4pt;">Total</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">996</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">144</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> 859000 6000 137000 137000 996000 144000 32000 0.33 820000 137000 137000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Inventories include the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Jun. 30,<br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Dec. 31,<br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 76%; text-align: left;">Finished goods</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">28,260</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">30,950</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Work in progress</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">3,467</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">5,019</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt;">Raw materials</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">44,278</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">42,230</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; padding-bottom: 4pt;">Total</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">76,006</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">78,198</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Jun. 30,<br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Dec. 31,<br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 76%; text-align: left;">Write-downs finished goods</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">-9,206</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">-9,206</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Write-downs work in progress</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-1,318</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-1,318</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt;">Write-downs raw materials</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-16,664</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-16,664</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; padding-bottom: 4pt;">Total</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-27,188</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-27,188</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> 28260000 30950000 3467000 5019000 44278000 42230000 76006000 78198000 9206000 9206000 1318000 1318000 16664000 16664000 27188000 27188000 0 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The issued and outstanding shares as of June 30, 2026, and as of June 30, 2025, are shown in the table below.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">in k units</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 76%;">Outstanding as of Jan. 01</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">60,436</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">52,362</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td>Exercise of warrants</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">5,213</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">2,469</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td>Exercise of options</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_285171889;">-</span></td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">47</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td>Share based compensation</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">29</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">26</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">Conversion from convertible note</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_1769308389;">-</span></td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">922</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="padding-bottom: 1.5pt;">Share subscription</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">9,324</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_831356211;">-</span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold;">Outstanding as of Jun. 30</td> <td style="font-weight: bold;"> </td> <td style="font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; text-align: right;">75,002</td> <td style="font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold;"> </td> <td style="font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; text-align: right;">55,826</td> <td style="font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="padding-bottom: 1.5pt;">Treasury shares</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">80</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">80</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt;">Issued and outstanding as of Jun. 30</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">75,082</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">55,906</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> 60436000 52362000 5213000 2469000 47000 29000 26000 922000 9324000 75002000 55826000 80000 80000 75082000 55906000 2468837 34168000 922195 7011000 5212904 52179000 11324000 11324000 1 1 6324000 3000000 2000000 100319000 117328000 7947000 9324000 798000 7852000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">As of the reporting date, warrant liabilities include the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">No. of warrants issued</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Jun. 30,<br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 76%; text-align: left;">Public warrants</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">5,006,836</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">2,645</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Private warrants</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">2,773,255</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">3,042</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt;">Warrants relating to shareholder loans</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">3,466,668</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">5,709</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; padding-bottom: 4pt;">Total</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">11,246,759</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">11,396</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">As of December 31, 2025, warrant liabilities included the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">No. of warrants issued</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Dec. 31, <br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 76%; text-align: left;">Public warrants</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">5,047,695</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">5,112</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Private warrants</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">2,773,255</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">3,061</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">Warrants relating to shareholder loans</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">8,638,713</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">35,376</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt;">Warrants relating to Convertible Note</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">1,827,284</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">11,259</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; padding-bottom: 4pt;">Total</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">18,286,947</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">54,808</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> 5006836 2645000 2773255 3042000 3466668 5709000 11246759 11396000 5047695 5112000 2773255 3061000 8638713 35376000 1827284 11259000 18286947 54808000 5687000 8173000 5006836 2773255 100000 40859 1150 6.2 1 5172045 5172000 5172045 5105379 66666 12500000 12557000 5000000 4245000 742924 1084360 7557000 6490000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Trade and other payables include the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">June 30,<br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Dec. 31,<br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 76%; text-align: left;">Trade payables</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">11,096</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">16,731</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Sales tax liabilities</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">421</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">599</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">Accrued expenses</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">2,229</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">819</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Trade payables due to related parties</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,069</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,822</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">Other payables non-financial</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">357</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">561</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt;">Other payables financial</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">6,839</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">333</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; padding-bottom: 4pt;">Total</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">22,012</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">20,865</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> 11096000 16731000 421000 599000 2229000 819000 1069000 1822000 357000 561000 6839000 333000 22012000 20865000 7557 6490 15863000 17000 5006000 5000 25000000 0.10 0.11 500000 2580000 5000000 32500000 0.10 0.16 9780000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The following table provides the carrying amounts and fair values of all financial assets and financial liabilities, including their levels in the fair value hierarchy.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Classification</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Fair value<br/> hierarchy</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Carrying amount<br/> Jun. 30, <br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Fair value<br/> Jun. 30,<br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Carrying amount<br/> Dec. 31,<br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Fair value<br/> Dec. 31,<br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom;"><td style="padding-bottom: 1.5pt; font-weight: bold;">Financial assets</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: right;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: right;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td colspan="2" style="text-align: right;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td colspan="2" style="text-align: right;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td colspan="2" style="text-align: right;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td colspan="2" style="text-align: right;"> </td> <td style="padding-bottom: 1.5pt;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 30%; text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Cash and cash equivalents</td> <td style="width: 1%;"> </td> <td style="width: 15%; text-align: left;">At amortized cost</td> <td style="width: 1%;"> </td> <td style="width: 9%; text-align: center;">n/a</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 8%; text-align: right;">4,589</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 8%; text-align: right;">4,589</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 8%; text-align: right;">6,987</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 8%; text-align: right;">6,987</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Trade receivables (current)</td> <td> </td> <td style="text-align: left;">At amortized cost</td> <td> </td> <td style="text-align: center;">n/a</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">3,472</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">3,472</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">5,289</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">5,289</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Other investments (non-current)</td> <td> </td> <td style="text-align: left;">At amortized cost</td> <td> </td> <td style="text-align: center;">n/a</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">859</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">859</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">6</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">6</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Other financial receivables (current)</td> <td> </td> <td style="text-align: left;">At amortized cost</td> <td> </td> <td style="text-align: center;">n/a</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">200</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">200</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">903</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">903</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Other financial receivables (non-current)</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left; padding-bottom: 1.5pt;">At amortized cost</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: center; padding-bottom: 1.5pt;">n/a</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">26</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">26</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">25</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">25</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in;">Total</td> <td style="padding-bottom: 4pt;"> </td> <td style="text-align: right; padding-bottom: 4pt;"> </td> <td style="padding-bottom: 4pt;"> </td> <td style="text-align: right; padding-bottom: 4pt;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">9,146</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">9,146</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">13,212</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">13,212</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; text-align: left; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Classification</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Fair value<br/> hierarchy</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Carrying amount<br/> Jun. 30,<br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Fair value<br/> Jun. 30,<br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Carrying amount<br/> Dec. 31, <br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Fair value<br/> Dec. 31,<br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom;"><td style="padding-bottom: 1.5pt; font-weight: bold;">Financial liabilities</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: right;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: right;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td colspan="2" style="text-align: right;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td colspan="2" style="text-align: right;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td colspan="2" style="text-align: right;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td colspan="2" style="text-align: right;"> </td> <td style="padding-bottom: 1.5pt;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 30%; text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Warrant liabilities - private</td> <td style="width: 1%;"> </td> <td style="width: 15%;">FVTPL</td> <td style="width: 1%;"> </td> <td style="width: 9%; text-align: center;">3</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 8%; text-align: right;">3,042</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 8%; text-align: right;">3,042</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 8%; text-align: right;">3,061</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 8%; text-align: right;">3,061</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Warrant liabilities - public</td> <td> </td> <td>FVTPL</td> <td> </td> <td style="text-align: center;">1</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">2,645</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">2,645</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">5,112</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">5,112</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Warrant liabilities - Shareholder loan</td> <td> </td> <td>FVTPL</td> <td> </td> <td style="text-align: center;">3</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">5,708</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">5,708</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">35,376</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">35,376</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Warrant liabilities - Convertible Notes</td> <td> </td> <td>FVTPL</td> <td> </td> <td style="text-align: center;">3</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_1467525240;">-</span></td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_1068935746;">-</span></td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_937299303;">11,259</span></td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_1164243954;">11,259</span></td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Loans and borrowings (current)</td> <td> </td> <td style="text-align: left;">At amortized cost</td> <td> </td> <td style="text-align: center;">n/a</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">15,880</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">15,880</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">48,560</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">48,560</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Trade payables (current)</td> <td> </td> <td style="text-align: left;">At amortized cost</td> <td> </td> <td style="text-align: center;">n/a</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">11,096</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">11,096</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">16,731</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">16,731</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Trade payables due to related parties<br/> (current)</td> <td> </td> <td style="text-align: left;">At amortized cost</td> <td> </td> <td style="text-align: center;">n/a</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,069</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,069</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,822</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,822</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Lease liabilities (non-current)</td> <td> </td> <td style="text-align: left;">At amortized cost</td> <td> </td> <td style="text-align: center;">n/a</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,286</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_1858157824;">-</span></td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,866</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_296071456;">-</span></td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Lease liabilities (current)</td> <td> </td> <td style="text-align: left;">At amortized cost</td> <td> </td> <td style="text-align: center;">n/a</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,334</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_1439724677;">-</span></td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,322</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_434515213;">-</span></td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Other payables financial (current)</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left; padding-bottom: 1.5pt;">At amortized cost</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: center; padding-bottom: 1.5pt;">n/a</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">6,839</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">6,839</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">333</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">333</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in;">Total</td> <td style="padding-bottom: 4pt;"> </td> <td style="text-align: right; padding-bottom: 4pt;"> </td> <td style="padding-bottom: 4pt;"> </td> <td style="text-align: right; padding-bottom: 4pt;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">48,900</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">46,280</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">125,442</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">122,254</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> At amortized cost 4589000 4589000 6987000 6987000 At amortized cost 3472000 3472000 5289000 5289000 At amortized cost 859000 859000 6000 6000 At amortized cost 200000 200000 903000 903000 At amortized cost 26000 26000 25000 25000 9146000 9146000 13212000 13212000 FVTPL 3042000 3042000 3061000 3061000 FVTPL 2645000 2645000 5112000 5112000 FVTPL 5708000 5708000 35376000 35376000 FVTPL At amortized cost 15880000 15880000 48560000 48560000 At amortized cost 11096000 11096000 16731000 16731000 At amortized cost 1069000 1069000 1822000 1822000 At amortized cost 1286000 1866000 At amortized cost 1334000 1322000 At amortized cost 6839000 6839000 333000 333000 48900000 46280000 125442000 122254000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;" width="100%"><tbody><tr style="vertical-align: top;"><td style="width: 0;"></td> <td style="width: 0.5in;">5.</td> <td style="text-align: justify;">Seasonal business</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The business performance of ADSE is not subject to regular seasonal or cyclical fluctuations that affect the unaudited interim condensed financial statements. Thus, the results of the six-month period ended June 30, 2026, may not be indicative of the full year.</p> <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;" width="100%"><tbody><tr style="vertical-align: top;"><td style="width: 0;"></td> <td style="width: 0.5in;">6.</td> <td style="text-align: justify;">Segment reporting</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> Information reported to ADSE’s chief operating decision maker (CODM) for the purposes of resource allocation and assessment of segment performance is focused on the geographic regions of ADSE’s business activities. Therefore, ADSE manages its operations based on two operating segments corresponding to its business activities in Europe and North America. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The CODM has been identified as the board of directors of ADSE Holdco. The board of directors regularly reviews operating results and makes decisions about the allocation of ADSE’s resources. ADSE’s focus is on the research, development and manufacturing of products and services in the fields of energy management, energy storage and e-mobility.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">ADSE evaluates segmental performance based on segment revenue and segment earnings before interest, taxes, depreciation and amortization (EBITDA). Inter-segment sales are priced along the same lines as sales to external customers.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Jun. 30, 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Europe</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">North<br/> America</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Total<br/> reportable segments</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Eliminations</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Total Group</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 40%; text-align: left; text-indent: -0.125in; padding-left: 0.125in;">External revenues</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">7,004</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">348</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">7,352</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;"><span style="-sec-ix-hidden:fc_1722421181;">-</span></td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">7,352</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Inter-segment revenues</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">634</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_1538647295;">-</span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">634</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-634</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_515993065;">-</span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in;">Total revenue</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">7,638</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">348</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">7,986</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-634</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">7,352</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td style="text-align: right; text-indent: -0.125in; padding-left: 0.125in;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in;">Earnings before interest taxation depreciation and amortization (EBITDA)</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-21,518</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-915</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-22,433</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;"><span style="-sec-ix-hidden:fc_1621936510;">-</span></td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-22,433</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Depreciation and amortization</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-3,683</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-137</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-3,820</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_887827338;">-</span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-3,820</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in;">Operating result (EBIT)</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-25,201</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-1,052</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-26,253</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; text-align: right;"><span style="-sec-ix-hidden:fc_775550172;"> </span></td> <td style="padding-bottom: 4pt; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-26,253</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Financial income</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">21,642</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_1107026396;">-</span></td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">21,642</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-4,891</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">16,751</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Financial costs</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-35,884</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-1,771</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-37,654</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">4,891</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-32,764</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Financial result</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-14,242</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-1,771</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-16,012</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-0</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-16,012</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Profit before tax</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-39,443</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-2,822</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-42,265</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-0</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-42,265</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Income tax expenses</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">240</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_1560378474;">-</span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">240</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_819000896;">-</span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">240</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in;">Profit for the year</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-39,203</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-2,822</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-42,025</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-0</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-42,025</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Jun. 30, 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Europe</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">North America</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Total reportable segments</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Eliminations</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Total Group</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 40%; text-align: left; text-indent: -0.125in; padding-left: 0.125in;">External revenues</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">13,790</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">825</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">14,614</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;"><span style="-sec-ix-hidden:fc_703419354;">-</span></td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">14,614</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Inter-segment revenues</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">4,250</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_1863219585;">-</span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">4,250</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-4,250</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_1290154362;">-</span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in;">Total revenue</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">18,039</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">825</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">18,864</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-4,250</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">14,614</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td style="text-align: right; text-indent: -0.125in; padding-left: 0.125in;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in;">Earnings before interest taxation depreciation and amortization (EBITDA)</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-25,164</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-1,425</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-26,589</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;"><span style="-sec-ix-hidden:fc_1749906173;">-</span></td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-26,589</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Depreciation and amortization</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-3,346</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-80</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-3,426</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_1617058807;">-</span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-3,426</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in;">Operating result (EBIT)</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-28,510</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-1,506</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-30,015</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; text-align: right;"><span style="-sec-ix-hidden:fc_666726236;"> </span></td> <td style="padding-bottom: 4pt; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-30,015</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Financial income</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">38,611</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">132</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">38,743</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-456</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">38,287</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Financial costs</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-6,916</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-16,696</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-23,613</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">456</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-23,157</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Financial result</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">31,694</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-16,565</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">15,130</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;"><span style="-sec-ix-hidden:fc_902869288;">-</span></td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">15,130</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Profit / Loss before tax</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">3,185</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-18,070</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-14,885</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;"><span style="-sec-ix-hidden:fc_1754308952;">-</span></td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-14,885</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Income tax expenses</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">120</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-1</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">120</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_184298191;">-</span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">120</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in;">Profit / Loss for the year</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">3,305</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-18,071</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-14,766</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;"><span style="-sec-ix-hidden:fc_976776485;">-</span></td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-14,766</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Total non-current assets of both reportable segments can be broken down as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Jun. 30,<br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Dec. 31,<br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Dec. 31,<br/> 2024</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 64%;">Europe</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">62,607</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">64,414</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">78,109</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">North America</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">754</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">868</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-6,328</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="padding-bottom: 1.5pt;">Eliminations</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-41,593</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-41,593</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-41,593</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt;">Total non-current assets</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">21,768</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">23,689</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">30,188</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Total current assets of both reportable segments can be broken down as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Jun. 30,<br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Dec. 31,<br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Dec. 31,<br/> 2024</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 64%;">Europe</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">145,202</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">130,346</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">108,877</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">North America</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">7,708</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">9,613</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">33,870</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="padding-bottom: 1.5pt;">Eliminations</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-93,073</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-73,398</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-27,705</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt;">Total current assets</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">59,837</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">66,560</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">115,042</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Total liabilities of both reportable segments can be broken down as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Jun. 30,<br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Dec. 31,<br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Dec. 31,<br/> 2024</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 64%;">Europe</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">71,228</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">98,044</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">182,960</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">North America</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">24,716</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">23,440</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">10,697</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="padding-bottom: 1.5pt;">Eliminations</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-22,106</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-20,413</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-5,618</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt;">Total liabilities</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">73,838</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">101,071</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">188,039</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Total revenues of both reportable segments can be broken down as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Jun. 30, <br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Jun. 30, <br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Jun. 30, <br/> 2024</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 64%;">Europe</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">7,638</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">18,039</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">78,346</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">North America</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">348</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">825</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,227</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="padding-bottom: 1.5pt;">Eliminations</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-634</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-4,250</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-310</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt;">Total revenues</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">7,352</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">14,614</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">79,263</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> Revenues from two major customers of ADSE amounted to kEUR 1,102 and kEUR 914 of ADSE’s total revenues, respectively (2025: two customers, kEUR 6,615 and kEUR 1,312). </p> 2 Inter-segment sales are priced along the same lines as sales to external customers.<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Jun. 30, 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Europe</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">North<br/> America</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Total<br/> reportable segments</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Eliminations</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Total Group</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 40%; text-align: left; text-indent: -0.125in; padding-left: 0.125in;">External revenues</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">7,004</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">348</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">7,352</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;"><span style="-sec-ix-hidden:fc_1722421181;">-</span></td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">7,352</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Inter-segment revenues</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">634</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_1538647295;">-</span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">634</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-634</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_515993065;">-</span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in;">Total revenue</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">7,638</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">348</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">7,986</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-634</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">7,352</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td style="text-align: right; text-indent: -0.125in; padding-left: 0.125in;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in;">Earnings before interest taxation depreciation and amortization (EBITDA)</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-21,518</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-915</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-22,433</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;"><span style="-sec-ix-hidden:fc_1621936510;">-</span></td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-22,433</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Depreciation and amortization</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-3,683</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-137</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-3,820</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_887827338;">-</span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-3,820</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in;">Operating result (EBIT)</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-25,201</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-1,052</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-26,253</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; text-align: right;"><span style="-sec-ix-hidden:fc_775550172;"> </span></td> <td style="padding-bottom: 4pt; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-26,253</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Financial income</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">21,642</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_1107026396;">-</span></td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">21,642</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-4,891</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">16,751</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Financial costs</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-35,884</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-1,771</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-37,654</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">4,891</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-32,764</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Financial result</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-14,242</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-1,771</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-16,012</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-0</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-16,012</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Profit before tax</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-39,443</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-2,822</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-42,265</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-0</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-42,265</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Income tax expenses</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">240</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_1560378474;">-</span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">240</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_819000896;">-</span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">240</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in;">Profit for the year</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-39,203</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-2,822</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-42,025</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-0</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-42,025</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Jun. 30, 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Europe</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">North America</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Total reportable segments</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Eliminations</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Total Group</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 40%; text-align: left; text-indent: -0.125in; padding-left: 0.125in;">External revenues</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">13,790</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">825</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">14,614</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;"><span style="-sec-ix-hidden:fc_703419354;">-</span></td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">14,614</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Inter-segment revenues</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">4,250</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_1863219585;">-</span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">4,250</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-4,250</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_1290154362;">-</span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in;">Total revenue</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">18,039</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">825</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">18,864</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-4,250</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">14,614</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td style="text-align: right; text-indent: -0.125in; padding-left: 0.125in;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in;">Earnings before interest taxation depreciation and amortization (EBITDA)</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-25,164</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-1,425</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-26,589</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;"><span style="-sec-ix-hidden:fc_1749906173;">-</span></td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-26,589</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Depreciation and amortization</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-3,346</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-80</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-3,426</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_1617058807;">-</span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-3,426</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in;">Operating result (EBIT)</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-28,510</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-1,506</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-30,015</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; text-align: right;"><span style="-sec-ix-hidden:fc_666726236;"> </span></td> <td style="padding-bottom: 4pt; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-30,015</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Financial income</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">38,611</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">132</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">38,743</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-456</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">38,287</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Financial costs</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-6,916</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-16,696</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-23,613</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">456</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-23,157</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Financial result</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">31,694</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-16,565</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">15,130</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;"><span style="-sec-ix-hidden:fc_902869288;">-</span></td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">15,130</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Profit / Loss before tax</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">3,185</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-18,070</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-14,885</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;"><span style="-sec-ix-hidden:fc_1754308952;">-</span></td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">-14,885</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Income tax expenses</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">120</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-1</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">120</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_184298191;">-</span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">120</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in;">Profit / Loss for the year</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">3,305</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-18,071</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-14,766</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;"><span style="-sec-ix-hidden:fc_976776485;">-</span></td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">-14,766</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> 7004000 348000 7352000 7352000 634000 634000 -634000 7638000 348000 7986000 -634000 7352000 21518000 915000 22433000 22433000 3683000 137000 3820000 3820000 25201000 1052000 26253000 26253000 21642000 21642000 -4891000 16751000 35884000 1771000 37654000 -4891000 32764000 -14242000 -1771000 -16012000 -0 -16012000 -39443000 -2822000 -42265000 -0 -42265000 240000 240000 240000 39203000 2822000 42025000 0 42025000 13790000 825000 14614000 14614000 4250000 4250000 -4250000 18039000 825000 18864000 -4250000 14614000 25164000 1425000 26589000 26589000 3346000 80000 3426000 3426000 28510000 1506000 30015000 30015000 38611000 132000 38743000 -456000 38287000 6916000 16696000 23613000 -456000 23157000 31694000 -16565000 15130000 15130000 3185000 -18070000 -14885000 -14885000 120000 -1000 120000 120000 -3305000 18071000 14766000 14766000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Total non-current assets of both reportable segments can be broken down as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Jun. 30,<br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Dec. 31,<br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Dec. 31,<br/> 2024</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 64%;">Europe</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">62,607</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">64,414</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">78,109</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">North America</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">754</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">868</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">-6,328</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="padding-bottom: 1.5pt;">Eliminations</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-41,593</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-41,593</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-41,593</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt;">Total non-current assets</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">21,768</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">23,689</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">30,188</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> 62607000 64414000 78109000 754000 868000 6328000 -41593000 -41593000 -41593000 21768000 23689000 30188000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Total current assets of both reportable segments can be broken down as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Jun. 30,<br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Dec. 31,<br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Dec. 31,<br/> 2024</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 64%;">Europe</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">145,202</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">130,346</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">108,877</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">North America</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">7,708</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">9,613</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">33,870</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="padding-bottom: 1.5pt;">Eliminations</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-93,073</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-73,398</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-27,705</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt;">Total current assets</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">59,837</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">66,560</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">115,042</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> 145202000 130346000 108877000 7708000 9613000 33870000 93073000 73398000 27705000 59837000 66560000 115042000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Total liabilities of both reportable segments can be broken down as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Jun. 30,<br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Dec. 31,<br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Dec. 31,<br/> 2024</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 64%;">Europe</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">71,228</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">98,044</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">182,960</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">North America</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">24,716</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">23,440</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">10,697</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="padding-bottom: 1.5pt;">Eliminations</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-22,106</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-20,413</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-5,618</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt;">Total liabilities</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">73,838</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">101,071</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">188,039</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> 71228000 98044000 182960000 24716000 23440000 10697000 22106000 20413000 5618000 73838000 101071000 188039000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Total revenues of both reportable segments can be broken down as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="font-weight: bold; border-bottom: Black 1.5pt solid;">kEUR</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Jun. 30, <br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Jun. 30, <br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Jun. 30, <br/> 2024</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 64%;">Europe</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">7,638</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">18,039</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: right;">78,346</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">North America</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">348</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">825</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1,227</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="padding-bottom: 1.5pt;">Eliminations</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-634</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-4,250</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">-310</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt;">Total revenues</td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">7,352</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">14,614</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 4pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">79,263</td> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> 7638000 18039000 78346000 348000 825000 1227000 -634000 -4250000 -310000 7352000 14614000 79263000 1102000 914000 6615000 1312000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;" width="100%"><tbody><tr style="vertical-align: top;"><td style="width: 0;"></td> <td style="width: 0.5in;">7.</td> <td style="text-align: justify;">Related party transactions</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Related parties are natural persons or companies that can be influenced by the reporting entity, that can exert an influence on the reporting entity or that are under the influence of another related party of the reporting entity. Transactions between related parties mainly include loans, leases, and management services.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Relationships with related parties have changed since December 31, 2025, due to the acquisition of an investment in Speicheranlagenbetreibergesellschaft mbH (see Note 4.2.1). Furthermore, the Company issued new shares upon the exercise of warrants (see Note 4.2.5) and subscription rights (see Note 4.2.4) to existing shareholders. The Company intends to use the proceeds from the issue of these shares for general corporate purposes, which may include working capital, capital expenditure, and other business investments. With regard to the development of shareholder loans, please refer to Note 4.2.7.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Other than this, there have been no significant changes in related-party relationships. All business transactions, receivables and liabilities with related parties existing at the reporting date result from ordinary business activities and are conducted at arm’s length.</p> <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;" width="100%"><tbody><tr style="vertical-align: top;"><td style="width: 0;"></td> <td style="width: 0.5in;">8.</td> <td style="text-align: justify;">Authorization of the financial statements</td> </tr></tbody></table> <p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif;"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The board of directors of ADSE Holdco authorized the consolidated financial statements on September 21, 2026.</p>