Announcement • Aug 27

Fjord Defence Group ASA (OB:DFENS) acquired Partnertech Karlskoga Aktiebolag from Permec Group Ab.

Fjord Defence Group ASA (OB:DFENS) entered into an agreement to acquire Partnertech Karlskoga Aktiebolag from Permec Group Ab for approximately SEK 710 million on June 17, 2026. The Acquisition values PartnerTech at a cash-free and debt-free enterprise value of SEK 900 million, of which (i) SEK 887.5 million is attributable to the enterprise value of PartnerTech, and (ii) SEK 12.5 million is attributable to the value of the continued engagement of key management. The corresponding equity value in the Acquisition is approximately SEK 708 million after debt and working capital adjustments. The Acquisition will be completed on the basis of a locked-box mechanism per March 31, 2026 and no additional adjustments will be made to the Purchase Price (except that it will inter alia be subject to customary deduction of any leakage). The Purchase Price will be settled with (i) new shares in the Company to the Seller worth approximately SEK 244.1 million at a price per share equal to the offer price in the Private Placement, and (ii) approximately SEK 451.4 million in cash to the Seller (subject to deductions as set out above). Further, in order to incentivize key managers of PartnerTech, new shares in the Company will be issued to such key managers worth SEK 12.5 million at a price per share equal to the offer price in the Private Placement. The Cash Consideration will be funded by the Company with (i) the net proceeds from the Private Placement, and (ii) the remainder by way of drawdown under the M&A debt facility pursuant to the Company's existing Senior Facilities Agreementbwith Nordea Bank Abp, filial i Norge. The cash consideration will be funded through a contemplated private placement of approximately SEK 370 million (approximately NOK 375 million) and bank debt provided by Nordea. The transaction includes a reinvestment by Permec Group AB in Fjord Defence Group ASA. The Consideration Shares and the Management Shares will be subject to lock-up (with customary exceptions, e.g. to finance taxes), with 50% being released after 12 months, and the remaining 50% after 24 months, counting from the date of completion of the Acquisition. The Acquisition is expected to be completed in Q3 2026 and is subject to (i) certain mandatory regulatory approvals (including FDI approvals in Sweden) and (ii) certain other customary closing conditions. Wikborg Rein Advokatfirma As acted as legal advisor for Fjord Defence Group ASA. Maria Holme and Mathilda Haglund of Mannheimer Swartling Advokatbyrå Aktiebolag acted as legal advisor for Permec Group Ab. Mats Dahlberg, Helene Andersson and Albert Danielsson of Advokatfirman Delphi KB acted as legal advisor for Fjord Defence Group ASA. Fjord Defence Group ASA (OB:DFENS) completed the acquisition of Partnertech Karlskoga Aktiebolag from Permec Group Ab on August 26, 2026.

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Fjord Defence Group ASA (OB:DFENS) acquired Partnertech Karlskoga Aktiebolag from Permec Group Ab.

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