Release of Third Quarter 2025 Results

Highlights:

• Chemical sales grew by 33% compared to 3Q 2024 (79% compared to YTD 2024), strengthening both margins, EBITDA and the foundation for recurring revenue.

• Purchase order from METHA for the Long-Tem Trial in Q4 2025.

• Two follow-up orders from existing customers: a second NORWAPOL® retrofit at a Norwegian oil terminal and an optimization project at SAR Mongstad, both following two years of successful operations.

• Our sensor-based and adaptive chemical treatment technology, implemented at a Norwegian salmon slaughterhouse in Q2 2025, has demonstrated stable operation and high purification efficiency.

• Strong development in opportunities and tender activity.

• Private Placement completed at a subscription price 25% above the recent market trading price, raising NOK 8 million in gross proceeds and converting an additional NOK 12.6 million in shareholder loans.

The Executive Chairman, Tor Olav Gabrielsen, comments “By the end of the third quarter, our production volumes had increased to 250,000 liters, representing a 67% year-over-year growth. Sales of our NORWAFLOC® products rose to NOK 14.5 million, a 79% increase compared to the same period last year. This growth was primarily driven by the aquaculture segment, confirming the profitability of this market. Our goal is to achieve similar profitability across our other segments. The strong pipeline of pilots and tenders within the dredging and oil & gas sectors provides a solid foundation for further growth. Notably, long-term pilot with the dredging company METHA at the Port of Hamburg is progressing according to plan, while promising projects in the Middle East represent significant long-term opportunities for MVW. The recent Private Placement, completed at a 25% premium, reflects our shareholders’ confidence in our technology, and the proceeds will provide working capital to advance our ongoing projects.”

Executive Chairman Tor Olav Gabrielsen and CFO Morten Hilton Thomassen will present the company’s results today on Tuesday, November 18th, 2025, at 10:00 CET, and invite investors, analysts, and other stakeholders to join the presentation.

Register for the presentation by using the following link:

Microsoft Virtual Events Powered by Teams

Expected duration: 30 minutes including Q&A.

The recording of the webcast and the presentation material will be published on MVW’s website afterwards.