Cardlay Holding ApSAktiv

The purpose of the Company and its wholly owned subsidiaries (the “Group”) is to provide IT consultancy and, in the opinion of the Board, all related activities. The Group’s main activity is to develop a product stack which connects financial infrastructure with digital services to make it easy for its customers to handle cards, payments and expenses.

The income statement for 2025 for the Company shows a loss of DKK 46,637 thousand against a loss of DKK 13,454 thousand last year. Income from investments in group enterprises has been negatively impacted by provisions of DKK 9,472 thousand plus estimated interest costs regarding tax credit for 2022 and 2023 which has not been approved by the Danish tax authorities. The company will submit a complaint to have the case appealed during 2026/2027. Management believes the chances of winning the legal action are good, but has not considered it possible to recognise a receivable due to uncertainty as to the final outcome of the legal action. The result of the Company’s ordinary operations is considered in line with expectations. The balance sheet at 31 December 2025 shows equity of DKK 7,636 thousand. The Group plans to continue to invest significantly into its product to enhance its value to partners and the experience for end-users. The Group further plans to invest into organization building and development of its employees. As such Management expects the Company to operate at a net loss also in the coming year. In line with its financial strategy, the Company has raised additional capital in the first half of 2026, totalling DKK 3,071 thousand from existing investors and USD 500 thousand from new investors in the shape of convertible loans. Furthermore, the Company has entered an agreement regarding other non-current payments, ensuring that no payments have to be made before sp

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