Crown Energy

Third quarter 1 July - 30 September 2025
Turnover amounted to SEK 12,843 thousand (11,778).
Unrealised changes in the value of properties amounted to SEK 2,012 thousand (23,434).
Operating profit was SEK -17,869 thousand (-787).
Net financial items amounted to SEK -1,995 thousand (-823).
Profit/loss before tax was SEK -19,863 (-1,610) thousand, and profit/loss after tax amounted to SEK -19,277 (-2,275) thousand.
Profit/loss attributable to owners of the parent company amounted to SEK -17,091 thousand (1,457) corresponding to SEK -0.04 (0.00) per share.

Period 1 January - 30 September 2025
Turnover amounted to SEK 28,546 thousand (29,194).
Unrealised changes in the value of properties amounted to SEK -12,494 thousand (46,404).
Operating profit was SEK -91,900 thousand (-21,942).
Net financial items amounted to SEK -3,385 thousand (-31,337).
Profit/loss before tax was SEK -95,285 thousand (-53,279) and profit/loss after tax amounted to SEK -83,449 thousand (-45,808).
Profit/loss attributable to owners of the parent company amounted to SEK -76,448 thousand (-39,106), corresponding to SEK -0.16 (-0.08) per share.

EVENTS DURING THE REPORTING PERIOD 1 January - 30 September 2025
At an extraordinary general meeting in September 2024, minority shareholders voted to appoint a special examiner. The Swedish Companies Registration Office appointed an examiner based in Gothenburg, which Crown Energy appealed on the basis that a Stockholm-based examiner would be more practical. The Administrative Court in Härnösand rejected the appeal, and the examination is now proceeding. Crown Energy is cooperating fully with the appointed examiner.

In the second quarter of 2025, Crown Energy received an additional USD 8 million under the October 2021 agreement for the sale of the Company’s oil assets, bringing the total received to USD 131 million.

On 4 July 2025, Crown Energy announced further changes in the management of AccYouRate Group S.p.A., including the departure of CEO and Chairman Boris Tuzza, whose appointment had been announced in April. The Board concluded that a different leadership approach was required to meet the company’s strategic goals. A new management team has been appointed.

On 9 July 2025, Crown Energy announced that its subsidiary AccYouRate Group S.p.A. had been granted a US patent for its sensorized garment technology, which integrates conductive ink electrodes into textiles for continuous monitoring of biomedical signals. The patent strengthens AccYouRate’s intellectual property portfolio and supports its positioning in the digital health and smart textiles markets.

Crown Energy announced changes in the management and Board of Directors. Board member Patrik Fagerholm was appointed Chief Financial Officer effective 1 January 2026 and will therefore step down from the Board. Current CFO Michail Shatkus will remain in his role until then and continue as Deputy CEO with ongoing responsibilities within the finance function.
 
EVENTS AFTER THE PERIODS END

Crown Energy announced that Board member Fanny Wallér has decided to step down from the Board for personal reasons. She will continue to support the Company through consulting services within communication and sustainability.

Crown Energy entered into a non-binding term sheet with ND Industrial Investments B.V. (ND Group) and approved a new Business Plan for AccYouRate’s commercialization. The partnership marks a significant step in positioning AccYouRate for large-scale market deployment and commercial growth.

Crown Energy, through its subsidiary Y.B.E. Imobiliária Angola Lda, signed a 30-year concession agreement with ICB URBE S.A. for the development of the Neo project at the new Dr António Agostinho Neto International Airport in Luanda. The concession covers four land parcels within the Airport City zone and forms the basis for a phased development of corporate accommodation and office facilities. Construction is planned to begin in 2026, subject to final design, permitting and project financing. For more information see Note 10, events after period end.

CEO STATEMENT

Dear Shareholders and Investors
The third quarter of 2025 has been a period of continued progress across all areas of the Group, marked by tangible operational developments and important steps in advancing our long-term strategic direction.
In Angola, our work within both climate initiatives and community engagement has gained strong momentum. Through KAYA Climate Solutions, we have continued to advance the legal and regulatory groundwork required for high-integrity carbon credit generation. This process, carried out in close coordination with public authorities, is essential for enabling future commercialization under internationally recognised standards.
At the same time, our community-focused platform WAKAYA has moved from establishment to active implementation. October saw the inauguration of Wakaya Camp in Malanje, an important milestone that demonstrates the speed and commitment with which our team and local partners are working. The launch brought together provincial leadership, community representatives, and partner organisations, and showcased the educational, cultural, and environmental programmes now underway. With training facilities, community spaces, and early educational initiatives already active, WAKAYA is strengthening our social presence in the region and reinforcing Crown Energy’s position as a long-term and responsible partner.
Our asset development and services operations in Angola continue to benefit from stable demand and a favourable macroeconomic environment, supported by the country’s major infrastructure investments. The launch of the new international airport in Luanda and the ongoing development of key transport corridors continue to underpin the strategic relevance of our operations and the opportunities ahead.
Building on this momentum, we have also taken an important strategic step through the signing of a 30-year concession for the development of our Neo project within the Airport City zone at the new international airport. This agreement represents a significant expansion of our long-term presence in Angola and positions the Group as one of the earliest movers in what is expected to become a major commercial and operational hub for the country. Neo strengthens our asset development platform with a modern accommodation and office concept designed to meet the needs of companies operating around the airport, and marks the beginning of a multi-year development phase with substantial future growth potential for Crown Energy.
Within AccYouRate Group S.p.A., there has been important strategic progress. The non-binding term sheet entered with ND Industrial Investments that Crown Energy announced on 7 November 2025 marks a significant step in preparing the company for commercial scale-up. The partnership combines AccYouRate’s technological strengths with ND Group’s industrial capabilities, bringing additional execution capacity to the newly approved Business Plan. This represents a key milestone in the transition from product development and pilot projects to broader industrialisation and market deployment.
The special examination initiated in 2024 is progressing as planned. We continue to cooperate fully with the appointed examiner, and we expect the process to move toward completion in the coming period.
We enter the final quarter of the year with strong operational momentum. In Angola, our integrated approach, combining commercial operations, climate project development, and active community engagement, is reinforcing our long-term position in one of Africa’s most dynamic environments. In Europe, we are progressing a unique health-technology asset toward industrialisation and commercial adoption. Together, these developments reflect Crown Energy’s commitment to creating sustainable value for our shareholders, our partners, and the communities where we operate.
 
Yoav Ben-Eli
CEO, Crown Energy