EQVA ASA (OSE: EQVA) reported revenue of NOK 364.9 million in the second quarter
of 2026, up 4.6 per cent year-over-year, and EBITDA was NOK 19 million. Revenue
growth year-over-year was driven by contributions from completed acquisitions.
Revenue for the first half was NOK 735 million, up 22 per cent from
corresponding period last year, driven by acquired companies.

Key figures and events in the quarter

o	Order backlog (next 12 months) of NOK 1.1 billion, with framework agreements
accounting for 52 per cent
o	Solid financial position, with a cash position of NOK 245 million and a book
value of equity of NOK 413 million
o	Acquisition of Einar Øgrey Farsund AS completed in June, with integration well
under way and joint projects already delivered with sister companies
o	Fossberg Kraft commenced construction of the Gjosa power plant, with expected
revenue of NOK 62-67 million through to delivery in Q2 2027

Subsequent events

o	New contract with Data Center Installations for multidisciplinary industrial
deliveries across several EQVA companies
o	IMTAS awarded contract for fabrication of steel structures in the defence
segment

Underlying market activity improved, although some customers continue to take
time on investment decisions. Activity picked up towards the end of the period,
and postponed projects are now being reactivated.

"The second quarter confirms the direction we have set. Market activity is
starting to pick up, and the contracts we have secured within data centres and
defence demonstrate the strength of our multidisciplinary model," says Olav
Hilmar Koløy, CEO of EQVA.

EQVA held a cash position of NOK 245 million at the end of the quarter. Net
interest-bearing debt was NOK 360 million under the bond loan definition,
corresponding to a leverage ratio of 3.4x pro forma EBITDA, and the equity ratio
was 30 per cent.

Key figures (second quarter 2026)

o	Revenue: NOK 364.9 million (Q2-25: NOK 348.7 million)
o	EBITDA: NOK 19 million (Q2-25: NOK 18 million)
o	Pro forma LTM revenue: NOK 1 567 million
o	Pro forma LTM EBITDA: NOK 106 million, a margin of 6.8 per cent
o	Order backlog: NOK 1.1 billion
o	Cash position: NOK 245 million
o	Net interest-bearing debt (bond loan definition): NOK 360 million
o	Pro forma leverage (bond loan definition): 3.4x EBITDA
o	Equity: NOK 413 million, equity ratio of 30 per cent

Pro forma LTM shows the last twelve months, adjusted for completed acquisitions
and other relevant structural changes.

Key events of the quarter

The acquisition of Einar Øgrey Farsund AS was completed in June. The acquisition
strengthens EQVA's position in Southern Norway, expands the service offering and
broadens the customer base. The integration has progressed well, and the company
is already executing joint projects together with other EQVA companies.

Fossberg Kraft commenced construction of the Gjosa power plant in Sirdal (Agder,
NO2), following the agreement to sell the plant to Norsk Vannkraft AS for NOK
62-67 million, with delivery estimated in Q2 2027.

Outlook

EQVA enters the second half with an order backlog of NOK 1.1 billion, of which
52 per cent consists of framework agreements providing a repetitive baseline
volume. Market activity is gradually improving, and previously postponed
projects are being reactivated.

The priorities for the second half are margin improvement across the portfolio
and closer collaboration between the Group companies on joint projects in the
pipeline. EQVA sees continued opportunities within data centres, defence and
land-based aquaculture, both through joint deliveries and through the individual
companies. With a solid backlog and a strengthened platform, EQVA is well
positioned for the second half.

Webcast

A presentation of the results will be held today by CEO Olav Hilmar Koløy and
CFO Daniel Hjertaker Molvik from 10:00-11:00 CEST. Follow the presentation and
Q&A session at: https://ir.eqva.no/events/6a45c93c27640d75dfe78042

A recording of the presentation will be available on the group's web site:
https://www.eqva.no/reports-presentations 

For more information, please contact: 
Daniel Hjertaker Molvik, Chief Financial Officer: +47 952 26 991,
daniel.molvik@eqva.no 

EQVA ASA in brief

EQVA is a full-service provider of industrial services, built on development and
long-term ownership of strong and complementary industrial companies.

EQVA's customers include leading industrial players across smelting operations,
process industry, aquaculture, the maritime sector, and offshore. The Group's
core competencies span engineering services and mechanical solutions, steel
structures, piping and tank systems, ventilation, power and automation, as well
as the development and operation of hydropower plants.

EQVA combines organic growth with targeted acquisitions to strengthen cash flow,
core operations, and its geographical footprint. Portfolio companies operate
with a high degree of autonomy, within clearly defined frameworks for
governance, reporting, and shared support functions. This model enables
efficient operations, economies of scale, and the realization of synergies -
while preserving close proximity to customers and end markets.

EQVA's asset-light model and strong focus on cash generation support an
attractive capital structure and enable profitable growth over time. With more
than 750 specialized employees and a strong presence across several of Norway's
key industrial regions, EQVA is well positioned for continued growth.

Read more on www.eqva.no

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
ed growth.\
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Read more on www.eqva.no\
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This information is subject to the disclosure requirements pursuant to section\
5-12 of the Norwegian Securities Trading Act.\