Core Insights - Vow ASA achieved record revenues and improved operational performance in Q4 2025, with a strategic focus on Maritime Solutions and Aftersales segments while adopting a selective approach in Industrial Solutions [1][2] Financial Performance - Revenues for Q4 2025 reached NOK 347.4 million, an increase of NOK 81.7 million compared to Q4 2024, driven by high activity in the cruise newbuild market and an increase in operational vessels [3] - Adjusted EBITDA for the quarter was NOK 15.8 million, slightly down from NOK 16.6 million in Q4 2024, with profitability improvements in Maritime Solutions and Aftersales offset by negative results in Industrial Solutions [5] - Total order backlog at year-end was approximately NOK 1.7 billion, providing visibility with confirmed contracts extending to 2034 [4] Strategic Developments - A comprehensive strategy revision was completed, leading to the appointment of leadership with defined P&L responsibilities and performance targets for each business segment [9][10] - The Group aims to strengthen its position in Maritime Solutions and Aftersales while pursuing a more cautious and selective approach in Industrial Solutions to balance risk and opportunities [2][10] Liquidity and Financial Management - The liquidity position improved significantly, with available liquidity at NOK 136.2 million at year-end, although fluctuations are expected in the coming quarters due to delivery timings and payment milestones [7] - Vow maintains a constructive dialogue with its financing partner, securing covenant waivers for the reporting periods and establishing a new covenant structure for future periods [8]

Oslo, 23 February 2026: Vow ASA (ticker OSE: VOW) and its subsidiary Scanship have received a purchase order from a major European shipyard of EUR 27 million. This order covers equipment for four new build Cruise vessels. The vessels are a continuation of an existing platform. Equipment deliveries have been agreed for four confirmed vessels under the contract. Deliveries will start in April 2027 for the first vessel and continue for sister vessels throughout 2029. The first vessel is scheduled to enter ope ...

Company Overview - Vow ASA is focused on preventing pollution through advanced technologies that convert biomass and waste into valuable resources and clean energy [2] - The company operates subsidiaries such as Scanship, C.H. Evensen, and Etia, which contribute to its mission of industry decarbonisation and material recycling [2] - Vow ASA is a leader in wastewater purification and waste valorisation in the cruise market, with strong positions in food safety, robotics, and heat-intensive industries [2] Upcoming Financial Report - Vow ASA will release its fourth quarter 2025 report on February 25, 2026, which will be available on their website and news platforms [1] - A live audio webcast will take place on the same day at 08:30 CET, featuring CEO Gunnar Pedersen and CFO Cecilie Brænd Hekneby, including a Q&A session for participants [1]

Company Overview - Vow ASA is focused on preventing pollution through advanced technologies that convert biomass and waste into valuable resources and clean energy for various industries [2] - The company is a leader in wastewater purification and waste valorisation in the cruise market, with strong positions in food safety, robotics, and heat-intensive industries [2] Upcoming Financial Report - Vow ASA will release its fourth quarter 2025 report on February 25, 2026, which will be available on the company's website and news platforms [1] - A live audio webcast will take place on the same day at 08:30 CET, hosted by CEO Gunnar Pedersen and CFO Cecilie Brænd Hekneby, including a Q&A session for participants [1] Contact Information - For further inquiries, contact details for CEO Gunnar Pedersen and CFO Cecilie Brænd Hekneby are provided, including phone numbers and email addresses [2]

Core Viewpoint - Vow ASA expects a non-cash accounting impairment of intangible assets in the range of NOK 100–120 million due to a reassessment of assumptions in the Industrial Solutions segment and a cautious outlook on market adoption timing [1][2]. Group 1: Financial Impact - The impairment will be reflected in the financial statements for the fourth quarter of 2025 [2]. - Vow ASA will publish its results for the fourth quarter and full year 2025 on 25 February 2026, at 07:00 CET [2]. Group 2: Market Outlook - Management sees significant long-term potential in the Industrial Solutions markets, but visibility on technology adoption pace remains limited [2]. Group 3: Company Overview - Vow ASA and its subsidiaries focus on preventing pollution by converting biomass and waste into valuable resources and clean energy [4]. - The company is a leader in wastewater purification and valorisation of waste, providing technology that enables industries to transition towards a fossil-free future [4]. - Vow ASA has strong niche positions in food safety, robotics, and heat-intensive industries with a strong decarbonising agenda [4].

Group 1 - Thomas Fredrick Borgen, chairman of the board of Vow ASA, purchased 400,000 shares at 2.58 NOK per share on 23 December 2025 [1] - Tfbconsulting AS, associated with Thomas Fredrick Borgen, sold 310,000 shares at the same price of 2.58 NOK per share on the same day [1] - Following these transactions, Thomas Fredrick Borgen and close associates hold a total of 1,997,392 shares in Vow ASA [1]

Group 1 - Vow ASA and its subsidiary Scanship received a purchase order worth EUR 29.6 million from a major European shipyard for equipment deliveries starting in July 2027 for two vessels [1] - The first vessel is scheduled to enter operation by the end of 2029, with equipment deliveries continuing throughout 2028 [1] Group 2 - The contract reinforces the long-standing cooperation between Vow ASA, the shipyard, and the cruise line, emphasizing a commitment to reliable and sustainable solutions [2] - Scanship technology will ensure that all wastewater on the ships is purified to meet the highest standards at sea, specifically for the Baltic Sea and Alaskan State waters [3] Group 3 - The waste management system enhances the circular economy on board, recovering valuable materials such as glass and aluminum [4] - Scanship's integrated clean ship solutions are designed to comply with maritime environmental requirements, reduce greenhouse gas emissions, and prevent pollution [4] Group 4 - Vow ASA is a leader in wastewater purification and waste valorization in the cruise market, providing technology that enables industries to transition towards a fossil-free future [9] - The company offers advanced technologies that convert biomass, sewage sludge, plastic waste, and end-of-life tires into clean energy and low carbon fuels [7][9]

Core Insights - Vow ASA's primary insiders have made significant share purchases, indicating confidence in the company's future performance [1] Insider Transactions - Thomas Fredrick Borgen, chair of the board, purchased 300,000 shares [1] - Tbfconsulting AS, associated with Thomas Fredrick Borgen, acquired 81,101 shares [1] - Egil Haugsdal, board member, bought 200,000 shares [1] - Cecilie Brænd Hekneby, CFO, purchased 1,140,000 shares [1] - Ulf Tore Hekneby, a close associate of the CFO, acquired 771,000 shares [1] - Ulrik Hekneby, another close associate of the CFO, purchased 65,000 shares [1]

Core Insights - Vow ASA's primary insiders have made significant share purchases, indicating confidence in the company's future performance [1] Insider Transactions - Thomas Fredrick Borgen, chair of the board, purchased 300,000 shares [1] - Tbfconsulting AS, associated with Thomas Fredrick Borgen, purchased 81,101 shares [1] - Egil Haugsdal, board member, purchased 200,000 shares [1] - Cecilie Brænd Hekneby, CFO, purchased 1,140,000 shares [1] - Ulf Tore Hekneby, a close associate of the CFO, purchased 771,000 shares [1] - Ulrik Hekneby, another close associate of the CFO, purchased 65,000 shares [1]

Core Insights - Vow ASA and its subsidiary Scanship received a purchase order worth EUR 13.8 million from a major European shipyard for equipment deliveries starting in July 2026, with the first vessel expected to be operational by the end of 2028 [1] - The agreement includes options for the customer to order equipment for an additional six vessels, valued at EUR 22 million, with deliveries extending to 2032 [1] Group 1: Contract Details - The contract signifies a continuation of the long-standing cooperation between Vow ASA, the shipyard, and the cruise line, emphasizing a commitment to reliable and sustainable solutions [2] - Equipment deliveries are planned for four firm vessels, with two vessel deliveries expected per year [1] Group 2: Environmental Impact - Scanship technology will ensure that all wastewater on the ships is purified to meet the highest standards in the Baltic Sea and Alaskan State waters, involving multiple processing steps for waste management [3] - The waste management system promotes a circular economy by recovering valuable materials such as glass and aluminum [4] - Vow ASA's integrated clean ship solutions are designed to comply with maritime environmental requirements, reduce greenhouse gas emissions, and prevent pollution [4] Group 3: Company Overview - Vow ASA and its subsidiaries focus on preventing pollution and converting biomass and waste into valuable resources, generating clean energy for various industries [6] - The company is a leader in the cruise market for wastewater purification and waste valorization, supporting industries in transitioning towards a fossil-free future [8] - Vow ASA's advanced technologies enable decarbonization and material recovery, with scalable and patented solutions for converting waste into clean energy and low carbon fuels [7]