Annual Report one particle at a time... #InvestinTekna 2025 January 1—December 31 Tekna Holding ASA

CONTENTS | ANNUAL REPORT 2025 Contents | 2 Sustainability Appendix Contact Information Corporate Governance Introduction Financials Performance VISION Advancing the world with sustainable material solutions, one particle at a time… In a rapidly changing world, a company needs to anchor itself in sustainable values, and a vision and mission to keep it moving forward. It takes ambition as well as patience and persistence to advance the world sustainably and we are determined. We believe advances can be made even in small steps, one particle at a time. MISSION To be the ultimate partner ...for our customers, our employees, our investors We achieve this by leveraging our talented people, our innovations and manufacturing excellence to provide our business partners with plasma technology and material solutions that drive their success, today and tomorrow. Photo credit: Microsoft

CONTENTS | ANNUAL REPORT 2025 Contents | 3 Sustainability Appendix Contact Information Corporate Governance Introduction Financials Performance Contents About Tekna ............................... 5 A message from the Group CEO .............................. 6 Key figures at a glance ............... 8 Highlights and important milestones in 2025...................... 9 Sustainability indicators ............ 10 Shareholder Information............ 11 Business and Location.............. 13 Analysis of the development and performance of the undertaking’s business and its position Market sectors ......................... 13 Important events in 2025 .......... 14 Financial review ........................ 15 Research and development ...... 15 The undertakings likely future developments Subsequent events, Going concern and Outlook ................ 16 Description of the principal risks and uncertainties Risk factors and risk management ............................ 17 Sustainability Environment ............................. 17 Social ...................................... 18 Governance ............................ 19 Statement from the Board of Directors .................... 20 Introduction Board of Directors’ Report Appendix Further resources Presentation of the groups profile and activities. Other available reporting • Remuneration report Tip If you want to return to this index page, click this icon on the top left corner. I. Organization chart, shareholders, entities ..........106 II. Alternative Performance Measures...........................107 III. Carbon Accounting ............ 109 IV. EU Taxonomy Report......... 119 V. Human Rights and Transparency Report ........ 128 VI. Abbreviations ESG .............134 Contact information................ 135 Corporate Governance Report Financial index .......................... 22 Consolidated Income statement ..................... 23 Other comprehensive Income ...... 23 Balance sheet ........................... 24 Changes in equity ..................... 25 Cash flow .................................. 26 Notes ...................................27-48 Parent company Income statement ..................... 49 Other comprehensive Income ...... 49 Balance sheet ........................... 50 Changes in equity ..................... 51 Cash flow .................................. 52 Notes ..................................53-60 ....... 61 Governance and Risk management ...........................65 Board of Directors and Executive Leadership Team ......66 Implementation and reporting on corporate governance ...............68 The business .............................68 Equity and dividends .................69 Equal treatment of shareholders and transactions with close associates ................................69 Shares and negotiability ............69 General meetings ......................69 The nomination committee ........70 Board of Directors: composition and independence.....................70 Work of the Board of Directors...70 Risk Management and Internal Control ......................................71 Board remuneration ..................71 Remuneration for executive personnel ..................................71 Information and communication .71 Take-over situations ..................71 Auditor ......................................72 General disclosures ................. 74 Basis for preparation............. 74 Sustainability governance ..... 75 Strategy, business model and value chain .................... 76 Material impacts, risks and opportunities ........................ 78 Index of Material disclosures . 80 Environment ............................ 81 Climate Change.................... 81 Carbon Footprint .................. 82 Resource use and circular economy .............................. 85 EU taxonomy ....................... 87 Social ..................................... 92 Own workforce ..................... 93 Workers in the value chain .... 98 Human Rights and Transparency ...................... 99 Governance .......................... 102 Business conduct .............. 103 Cyber security ................... 104 Financial Statements Auditors Report Sustainability Report Go to Investors Go to Tekna.com

Introduction INTRODUCTION | ANNUAL REPORT 2025 | 4 Performance Financials Appendix Contact Information Sustainability Corporate Governance Contents About Tekna About Tekna............................... 5 A message from the Group CEO ............................... 6 Key figures at a glance ............... 8 Highlights and important milestones in 2025 ..................... 9 Sustainability indicators ............ 10 Shareholder Information ........... 11 Introduction

Introduction INTRODUCTION | ANNUAL REPORT 2025 | 5 Performance Financials Appendix Contact Information Sustainability Corporate Governance Contents Tekna is a world-leading provider of sustainable, advanced material solutions. The group specializes in the development, manufacturing and sales of advanced metal powders as well as plasma processing solutions. Since we started in 1990, Tekna has developed a unique and proprietary Inductively Coupled plasma technology (“ICP”) plat- form for manufacturing micron-sized and nano-sized powders for a range of industries. Our business model relies on two revenue streams, both with synergistic effects: • Plasma systems: development, manufacturing and sales of sophisticated systems for research and development, includ- ing the PlasmaSonic systems for hypersonic test facilities • Materials: development, manufacturing and sales of metal powders by ICP for the additive manufacturing industry Tekna is developing in major market verticals thriving on global mega trends such as space exploration, increasing defense spending, technology development in aviation, digitalization, Tekna is headquartered in Québec, Canada, and has additional offices in France, China, USA, and seven distributors operating globally (Europe, Asia and North America). Systems for research and development The Systems business area acts as the technology hub of the corporation and has generated derivative opportunities, such as the Materials business, and the newly launched PlasmaSonic product line. The flagship product line, PlasmaSonic, is a wind tunnel engineered to replicate the extreme heat, pressure, and speed conditions of hypersonic flight, enabling our customers to devel- op innovative materials for use in space vehicles. Materials for additive manufacturing Tekna specializes in high quality micron-sized, spherical, high- purity metal powders. Its portfolio includes titanium, aluminum, tungsten and tantalum. Currently our fastest growing business area. This global market is on track to outperform, in terms of growth, traditional machining due to improved environmental efficiency, for in- stance through resource efficiency and speed of availability of parts. ABOUT TEKNA Advancing materials. Empowering Innovation. INTRODUCTION

Introduction INTRODUCTION | ANNUAL REPORT 2025 | 6 Performance Financials Appendix Contact Information Sustainability Corporate Governance Contents 2025 was a transformational year for Tekna—marked by significant commercial and operational progress, strengthened financial performance and foundations, and better strategic clarity for the years ahead. Despite a macro economic environment characterized by geopolitical uncertainty, Tekna delivered several record achievements and reached a profitability inflection point, positioning us strongly for the future. Message from Claude Jean, Group CEO Technologies—supporting the production of more than 50 000 satellite components—is just one example of how Tekna is becoming an integral part of strategic supply chains in high-growth sectors. Tekna also became the first company in the world to receive NADCAP accreditation [1] for metallic powder manufacturing, an achievement that further solidifies our position as a global benchmark in powder quality and reliability. Systems revenues were CAD 7.8 million, reflect- ing low orders and the cyclical nature of this business. However, the pipeline is maturing, with several orders expected in the first half of 2026. Refer to end of letter for notes. Dear partners, Dear shareholders, customers and employees, Developments in business areas Our Materials business continues to be the engine of Tekna’s value creation. It delivered record revenues of CAD 27.8 million and contri- bution margin of 53.2%. This performance was driven by a favorable product mix, higher selling prices for small and large powders, cost structure improvements and disciplined execution. The strong revenues were supported by an all-time high order intake of CAD 33.9 million. The aver- age revenue per Materials customer reached a new high of CAD 170 000, illustrating the matura- tion of customer applications and repeat order (“A&D”) and medical sectors. Our recently announced long-term partnership with Burloak CEO LETTER Tekna enters the next phase with a clear roadmap and a company culture committed to operational excellence, quality control, and customer success. Our baseline ambition is to deliver double-digit annual revenue growth and gradual expansion toward 15%–20% EBITDA margin by 2030. Claude Jean Chief Executive Officer Tekna Holding ASA

Introduction INTRODUCTION | ANNUAL REPORT 2025 | 7 Performance Financials Appendix Contact Information Sustainability Corporate Governance Contents Structural improvements Across the organization, we executed significant structural improvements. From year-end 2023 to the end of 2025, we reduced total headcount by 29%— from 222 to 158 employees, generating annualized direct and indirect salary savings of CAD 7.0 million. These actions were demanding to execute but essen- tial. They have made Tekna leaner, more agile, and well positioned for profitable growth. As a result, we achieved positive EBITDA in Q3 and Q4, culminating in an adjusted EBITDA in 2025 of CAD -1.4 million (-6.9), a significant improvement over previous years. Tekna secured an agreement with Scotiabank provid- ing a total of CAD 10.5 million of credit facilities. We also completed a fully underwritten rights issue, strengthening our balance sheet and ensuring we are fully funded to execute on our business plan. This robust liquidity secures flexibility to deliver on our long -term strategy and capture growth across our core markets. Macro challenges Entering 2025, tariff uncertainty created hesitation in our markets. However, Tekna’s products were ulti- mately confirmed to be exempt under the USMCA framework [2] , allowing us to maintain market momentum. While new tariffs and geopolitical tensions continue to introduce short-term challenges, we firmly believe that they ultimately will reinforce the broader trend The unit economics in Systems remain attractive, and we continue to see upside potential as new applica- tions adopt plasma-based technologies. Furthermore, this business area plays a strategic role in enabling Tekna’s material business’ long-term innovation and customer engagement. toward reshoring, supply-chain security, and domes- tic manufacturing—all of which support long-term demand for additive manufacturing and Tekna’s advanced materials. Desired positions Since joining Tekna in April 2025, I have focused on clarifying our strategic direction and defining Tekna’s desired position across both business areas. Our ambition is to maintain and reinforce our best-in-class global position in metallic powders for additive manu- facturing, with a focus on high value applications in aerospace, defense and medical markets in North America and Europe. With manufacturing operations in Canada and a cur- rently idle site in France [3] , Tekna is uniquely posi- tioned to benefit from increased A&D budgets, reshoring and resilience efforts, and the accelerating adoption of additive manufacturing. We will continue to selectively expand our portfolio of alloys within our core business and advance our nano powder devel- opments in partnership with prospective customers. In Systems, our objective is to enhance commercial focus and penetrate new verticals where our plasma technologies have significant long-term potential. We see strong opportunities in material development and production as well as PlasmaSonic wind tunnel applications. We are ready Looking ahead, Tekna enters the next phase of its journey with a clear roadmap and a company culture committed to operational excellence, quality control, and customer success. Our baseline ambition is to deliver double-digit annual revenue growth and grad- ual improvement of EBITDA margin towards 15%– 20% by 2030. The achievements of 2025 would not have been possible without the passion, expertise, and dedica- tion of our employees, the trust of our customers, and the support of our shareholders. Together, we have laid the groundwork for a new chapter in Tekna’s evolution— defined by profitable growth, technologi- cal leadership, and long-term value creation. Thank you for your continued confidence in Tekna. Sincerely, [1] National Aerospace and Defense Contractors Accreditation Program (NADCAP) is an industry-managed global cooperative program, which standardizes audits and accreditation of “critical processes” to ensure suppliers meet the stringent technical and quality requirements demanded by aerospace and defense OEMs. [2] USMCA is a free trade agreement among the United States, Mexico, and Canada, in effect from July 1, 2020. [3] Manufacturing in France is idle at present. Claude

Introduction INTRODUCTION | ANNUAL REPORT 2025 | 8 Performance Financials Appendix Contact Information Sustainability Corporate Governance Contents [1] Includes after service and spare parts. [2] OEM stands for Original Equipment Manufacturer. [3] Academic, Industrial Research and Distributors Key figures at a glance in CAD million 2025 2024 2023 Revenues 35.6 37.2 40.9 Adjusted EBITDA -1.4 -6.9 -4.1 EBITDA -3.1 -4.0 -8.2 Net profit / loss -11.0 -11.1 -15.0 Cash balance 17.4 12.4 10.1 Employees 158 185 222 Revenue distribution - by business area - by geography North America 56% Europe 28% Asia | Rest of world 16% Revenues 35.6 M CAD vs 37.2 M CAD in 2024. Materials (+4.9%) Systems (-27%) vs 16.7 M CAD in 2024. Materials (+45.7%) Systems (-35%) Adj. EBITDA -1.4 M CAD vs –6.9 M CAD in 2024. Tekna maintained a strong focus on operational discipline, profitability and cash flow Aerospace | Defense 51% Medical 11% Consumer Electronics 7% - by industry Other [3] 23% 3D Machine OEM [2] 7% Order backlog 20.5 M CAD 2025 Systems [1] 22% Materials 78%

Introduction INTRODUCTION | ANNUAL REPORT 2025 | 9 Performance Financials Appendix Contact Information Sustainability Corporate Governance Contents Highlights and important milestones in the year [1] Mr. Jean took over from Luc Dionne in April. Tekna secured an agreement with Scotiabank providing a total of CAD 10.5m of credit facilities. Tekna continued to execute on its comprehensive profitability program. Efforts focused on simplifying the organization, creating a leaner operation (185 to 158 FTE), reducing operating cost and further improving cash flow. Many of the cost reductions executed since 2024 are permanent and will have recurring effect. A Tekna subsidiary became the world’s first accredited metallic powder manufacturer, representing an important quality acknowledgement in the aerospace industry. Tekna completed a Rights Issue of NOK 300m (CAD 41m). CAD 29m of the proceeds were used to repay the AFK shareholder loan, including interest. In the first quarter, Tekna received three orders valued at CAD 5.2m for titanium powder used in metal injection molding (MIM). Tekna completed the year with an order intake of CAD 33.9m (23.5), an increase of 44.4%. Systems order intake remained low, affected by the uncertainty caused by the tariffs. Order intake picked up slightly in Q4. Tekna entered a strategic partnership with Burloak Technologies, Canada’s leading additive manufacturing company, to supply materials for the production of 50 000 satellite components destined to MDA’s Aurora TM program. [1] Read more on all of these highlights in the Board of Directors’ report . Go to Board of Directors’ report 2025 New CEO Claude Jean Record order intake Materials Scotiabank financing agreement 100% underwritten Rights Issue Improved cost position Partnering for satellite components NADCAP certification Systems remained slow

Introduction INTRODUCTION | ANNUAL REPORT 2025 | 10 Performance Financials Appendix Contact Information Sustainability Corporate Governance Contents FY25: 15.1 kWh/kg FY19: 16.3 kWh/kg FY24: 12.1 kWh/kg SOCIAL ENVIRONMENT Carbon-neutral in own operations by 2035. Sustainability indicators at a glance [1] 543 tCO2e vs 577 in 2021 vs 288 by 2030 (target) 30 898 tCO2e vs 41 957 (-26%) in 2024. For scope 3 targets go to page 84 10 tCO2e vs 42 (-76%) in 2021 vs 21 by 2030 (target—achieved) Greenhouse Gas emissions [2] Scope 1 - 6 % +8 pp 73% vs 66% in 2021 vs 100% by 2035 (Location based) Scope 2 -76 % Scope 3 -26 % Energy Intensity per kg metal powder produced [3] baseline -7% -26% The target for 2030 is 10 kWh/kg. Protecting workers, own and supply chain. Diverse leadership. Renewable energy share [2] 30-50 years under 30 51% 34% 15% 72% 28% male Read more on Sustainability GOVERNANCE [1] Historical data should not change, but we always revise historical figures if data quality or science has improved. [2] Performance vs baseline as indicated. [3] Performance vs baseline FY19; Direct electricity of plasma systems within Tekna, Ti64 and AlSiMg, in kWh per kg. Impeccable business conduct. Secure systems. Ethics & Compliance Code of Conduct signature 100% Code of Conduct training 98% Signature of Code of Conduct by high-risk partners 100% Compliance incidents detected 0 Cyber security Successful cyber attacks 0 Internal training 100% over 2025 ESG Health & Safety Fatalities 0 Lost time injuries | LTIFR 1 | 3.4 Employees sick leave rate 3.7 % Human Resources (158) Voluntary turnover rate 15.7 % Age distribution all employees Gender diversity all employees female

Introduction INTRODUCTION | ANNUAL REPORT 2025 | 11 Performance Financials Appendix Contact Information Sustainability Corporate Governance Contents Tekna Holding ("Company") aims to be an attractive investment for shareholders, delivering a competitive return on invest- ment through developing strong positions in high-growth verticals representing opportunities for high profitability going forward. The Company's share capital as of 31 December 2025 was NOK 261 581 568 divided into 227 462 233 shares, each with a nominal value of NOK 1.15. The Company's shares are registered in book-entry form with the Norwegian Central Securities Depository under ISIN NO 0010951577. The account operator of the Company's share register is DNB Bank ASA. The Tekna share was listed on Oslo Børs, the main list at the Oslo Stock Exchange, on 1 July 2022. Rights Issue Q4 2025 In the fourth quarter, Tekna completed its refinancing plan with a rights issue of NOK 300 million (CAD 41 million). Net proceeds from the equity raise were CAD 40 million, after deducting about CAD 1 million in costs. CAD 29 million of the proceeds were used to repay the sharehold- er loan to Arendals Fossekompani ASA (“AFK”), including interest. The balance sheet was strengthened year-over-year as the Equity ratio rose to 77% from 36%, the net debt improved from CAD 19.6 million to net cash of CAD 11.8 million. The cash position at year-end was CAD 17.4 million, up CAD 10.2 million from the previous quarter. Shareholder structure As of 31 December 2025, Tekna had 4 115 sharehold- ers, down from 4 211 at the end of 2024. AFK remained the Company’s largest shareholder, owning 72.4 percent of the shares. No other shareholder held more than five percent, while four shareholders held more than two per- cent. Share price and market valuation On 31 December 2025, the closing share price was NOK 3.15 per share, corresponding to a market capitalization of NOK 0.7 billion. The year-end closing price on 31 December 2024 was NOK 3.25. Option schemes In 2024, the board of directors of Tekna Holding ASA (the "Company") resolved and implemented an employee share option plan (the "Plan") with annual grants for 2024 (completed), 2025 (completed) and 2026 (projected). The Plan is available to eligible individuals as determined by the board of directors. The Plan enables the eligible person to acquire a proprietary interest in the growth and performance of the Company and to enhance the ability of the Company to attract, retain and reward qualified individuals. Options can be granted on an annual or ad hoc basis, all subject to the board's discretion. Upon exercising their options, option holders can choose be- tween acquiring shares after paying the strike price or opting for a cashless transaction. The latter involves the transfer of a number of treasury shares equivalent to the NOK amount of the number of exercised options, multi- plied by the difference between the Company's shares' market price and the strike price. On 21 November 2025, the board of directors has grant- ed a total of 3 410 000 options in the 2025 allocation round. These options have a strike price of NOK 3.25. Issued options vest 1/3 after one year, 1/3 after two years, and 1/3 after three years. The expiry date for any option granted is the date falling 24 months following the vesting date. Link to the 2025 Remuneration Report. Current Authorizations During the 2025 Annual General Meeting (“AGM”) the Board of Directors of the Company received the authori- zation to increase the share capital and to acquire shares of the company. The authorizations remain in force until the AGM of 2026, but in no event later than 30 June 2026. Link to AGM minutes: www.tekna.com/investors Investor Relations Tekna wishes to maintain open communications with its shareholders and other stakeholders. Shareholders and stakeholders are kept informed by announcements to the Oslo stock exchange and press releases. Please refer to the investor relations section of the Tekna website for further information, including contact details: www.tekna.com/investors or contact [email protected]. Upcoming events 7 May 2026 Annual General Meeting 7 May 2026 Interim Report for Q1 2026 AGM Minutes Email Investor Relations Shareholder information 31.12.2025

BOARD OF DIRECTORS’ REPORT | ANNUAL REPORT 2025 | 12 Contents Introduction Performance Financials Corporate Governance Sustainability Appendix Contact Information Board of Directors’ Report Board of Directors’ report 2025 Business and Location.............. 13 Analysis of the development and performance of the undertaking’s business and its position Market sectors ......................... 13 Important events in 2025 .......... 14 Financial review ........................ 15 Research and development ...... 15 The undertakings likely future developments Subsequent events, Going concern and Outlook ................ 16 Description of the principal risks and uncertainties Risk factors and risk management ............................ 17 Sustainability Environment ............................. 17 Social ....................................... 18 Governance ............................. 19 Statement from the Board of Directors .................... 20

BOARD OF DIRECTORS’ REPORT | ANNUAL REPORT 2025 | 13 Contents Introduction Performance Financials Corporate Governance Sustainability Appendix Contact Information Board of Directors’ Report 2025 [1] The macro-economic environment in 2025 remained demanding, characterized by tariffs, moderate and uneven growth, easing inflation and gradually declining interest rates. Market conditions continued to impact investment appetite across most customer segments. Navigating this environment, Tekna Group (“Tekna” or “Group”) maintained a strong focus on operational discipline, profitability and cash flow, while prioritising core growth initiatives. Revenues amounted to CAD 35.6 million (37.2), reflecting gradual recovery in Materials and continued slowdown in Systems. Order intake and backlog developed to CAD 39.4 million (29.1) and CAD 20.5 million (16.7) respectively at year-end. Adjusted EBITDA improved to negative CAD 1.4 million (negative 6.9), supported by cost measures and operational efficiencies. Net working capital was slightly reduced to CAD 14.2 million (14.5), reflecting continued focus on cash management and balance sheet discipline. Business and location The Group currently engages in two main businesses: Materials and Systems (incl. PlasmaSonic). The Group is developing in major market verticals such as space exploration, increasing defense spending, technology development in aviation, digitalization, demography & health care as well as reshoring of manufacturing. Tekna is a world-leading provider of sustainable, advanced material solutions to industry. The company specializes in high-purity, micron-sized metal powders used in critical applications such as additive manufactur- ing (3D printing) across the aerospace, defense, medical and consumer electronics industries. Tekna also develops, manufactures and operates its own plasma systems and sells cutting-edge induction plasma systems designed for both industrial research and pro- duction. Its unique, IP-protected plasma technology is powering its hypersonic wind tunnels, PlasmaSonic, which enable simulating material exposure conditions in space (hypersonic and atmosphere re-entry flight condi- tions). With over 30 years of experience, Tekna is a trusted part- ner to a broad portfolio of multinational blue-chip custom- ers for its high-quality products and innovation. Its materi- al solutions help enhance productivity, enable more effi- cient use of materials and support the transition to more resilient supply chains and a circular economy. Tekna Holding ASA, a Norwegian public limited liability company, is listed on Oslo Stock Exchange. The Group is headquartered in Sherbrooke, Canada, with subsidiaries and teams based across five offices [2] in Canada (2), France, USA and China . Analysis of the development and performance of the undertaking’s business and its position Market sectors Tekna currently has two business areas: • Materials - development, manufacturing and sales of metal powders for the additive manufacturing industry • Systems - development, manufacturing and sales of sophisticated plasma systems for research and devel- opment, including the PlasmaSonic systems for hypersonic test facilities. Materials In 2025, revenues in Materials increased by 4.9% to CAD 27.8 million (26.5), representing 78% of consolidat- ed revenues. The contribution margin improved signifi- cantly to 53.2%, up from 34.3% in 2024, driven by a favorable product mix and better sales opportunities for both small and larger particle sizes. Throughout 2025, Tekna experienced record order intake of CAD 33.9 mil- lion (23.5), an increase of 44.4%, with accelerating de- mand driven primarily by aerospace and defense cus- tomers in North America and Europe. In the fourth quar- ter, Tekna earned NADCAP accreditation for its metallic powder production, confirming that its powders meet the industry’s highest standards for quality and traceability. Systems The slowdown in Systems continued in 2025, with reve- nues declining 27% to CAD 7.8 million (10.7). The de- cline was primarily attributable to a reduced order book, as ongoing uncertainty related to government funding constraints in several countries affected project timelines. [1] All amounts in this document refer to the consolidated financial statements for the Group, unless otherwise stated. The financial statements cover the period from January 1, 2024 to December 31, 2025. [2] The India and South Korea offices are in process of closure.

BOARD OF DIRECTORS’ REPORT | ANNUAL REPORT 2025 | 14 Contents Introduction Performance Financials Corporate Governance Sustainability Appendix Contact Information announced several signifi- cant orders during the year: • In March, three orders were received valued at a total of CAD 5.2 million for titanium powder used in metal injection molding (MIM). The customers will utilize the powder for mass-producing sub-components, such as digital watch cases, hinges, and buttons. Deliveries for these contracts are scheduled for 2025/26. • In July, Tekna received an order of CAD 1.6 million for high-performance titanium powder used in Laser Powder Bed Fusion (LPBF) additive manufacturing (AM) from U.S. Aerospace and Defense Tier-1 Sup- plier. This was followed by a second order of CAD 2.0 million at the end of the year (announced early Janu- ary 2026). Tekna World’s First NADCAP Accredited Metallic Powder Manufacturing Tekna received NADCAP accreditation for metallic pow- der manufacturing, making it the first company in the world to achieve this milestone. The formal audit was completed in August, and the certificate was officially granted in October. The National Aerospace and Defense Contractors Ac- creditation Program (NADCAP) is an industry-managed global cooperative program which standardizes audits and accreditation of “critical processes” (such as heat treatment, chemical processes, non-destructive testing) to ensure suppliers meet the stringent technical and qual- ity requirements demanded by aerospace and defense OEMs. Contribution margin for Systems for the year was 53.5%, compared to 64.9% in 2024, including a negative impact of 5.1 percentage points for a tariff paid in the U.S. that is expected to be recovered in 2026. Order intake for 2025 was CAD 5.5 million (5.7), with three system orders booked in the fourth quarter totaling CAD 3.1 million. While activity in the Systems business remains inherently volatile, the sales pipeline is progressing with several orders anticipated in the first half of 2026. The Systems business is of importance to Tekna as it supports the continued development of the core technol- ogy applicable in the inhouse materials production. Research & Development Tekna has several R&D initiatives in addition to the mate- rial for additive manufacturing. In close cooperation with potential customers, Tekna is developing advanced nano -sized materials that can be used for a variety of industri- al applications, including nickel and copper. Important events in 2025 Tekna welcomed new CEO Claude Jean Mr. Jean is an accomplished senior technology executive with a proven track record of building and leading world- class electronic manufacturing services and R&D. He joined Tekna in April, replacing Luc Dionne, the compa- ny’s CEO since 2014. Record order intake in Materials Tekna completed the year with an order intake of CAD 33.9 million (23.5), an increase of 44.4%. The revenue per customer is steadily increasing and Tekna Tekna completes fully underwritten Rights Issue In the fourth quarter, Tekna completed its refinancing plan with a rights issue of NOK 300 million (CAD 41 mil- lion). Net proceeds from the equity raise were CAD 40 million, after deducting about CAD 1 million in costs. CAD 29 million of the proceeds were used to repay the sharehold- er loan from Arendals Fossekompani ASA, including in- terest. The balance sheet was strengthened year-over- year as the Equity ratio rose to 77% from 36% and the net cash position improved to CAD 11.8 million from CAD 19.6 million net debt. The cash position at year-end was CAD 17.4 million, up from CAD 12.4 million the pre- vious year. Improving cost position Tekna continued to execute on its comprehensive profit- ability improvement program which started in 2023. Ef- forts focused on simplifying the organization, creating a leaner operation, reducing operating cost and further improving cash flow. Key contributors are: • In 2025, headcount was further reduced from 185 to 158 • Continued to make progress on implementing auto- mation on post atomization processes • Organised administrative processes more efficiently Many of the cost reductions executed since 2024 are permanent and will have recurring effect. BOARD OF DIRECTORS’ REPORT (CONTINUED) Partnership with Burloak Technologies in supply chain for cutting-edge satellite components In November, Tekna entered a strategic partnership with Burloak Technologies (Burloak), Canada’s leading addi- tive manufacturing (AM) company, to supply materials for the production of more than 50 000 satellite components. The collaboration supports Burloak’s role in manufactur- ing advanced flight hardware for the MDA Aurora pro- gram. Systems remained slow Systems order intake was affected by the uncertainty caused by the introduction of tariffs. Order intake in the year included six units, three in the second quarter and three in the fourth quarter. Furthermore, a system was shipped to the USA with a tariff charge of CAD 0.4m affecting Contribution Margins. Scotiabank financing agreement The Company entered into a financing agreement with the Bank of Nova Scotia ("Scotiabank"). Under the financing agreement, Scotiabank has agreed to make available multiple credit facilities to Tekna systèmes Plas- ma Inc., Tekna Matériaux Avancés Inc. and Tekna Hold- ings Canada Inc (the "Borrowers") in total of CAD 10.5 million. The credit facilities are divided into three types of credit, (i) an operating on demand credit (the "Demand Credit") of CAD 6 million, (ii) a standby letter of credit/ guarantee of CAD 4 million and (iii) a VISA Business credit card of CAD 0.5 million. The credit facilities will be used for working capital and general corporate purposes and to assist for future projects. Order intake

BOARD OF DIRECTORS’ REPORT | ANNUAL REPORT 2025 | 15 Contents Introduction Performance Financials Corporate Governance Sustainability Appendix Contact Information Financial review The Board of Directors believes that the annual financial statements provide a true and fair view of the net assets, finan- cial position and result of Tekna Holding ASA and the Group for the year. The Group’s consolidated financial state- ments are presented in compliance with International Financial Reporting Stand- ards (IFRS) as adopted by the EU, and the reporting currency is Canadian dol- lars (“CAD”). Profit and loss Revenue was CAD 35.6 million, a 4% decrease from CAD 37.2 million in 2024. Contribution margin improved significantly to 53.3%, up from 43.1% in 2024, driven by strong performance in Materials. EBITDA was negative CAD 3.1 million compared to negative CAD 4.0 million in 2024. Adjusted EBITDA improved markedly to negative CAD 1.4 million from negative CAD 6.9 million in 2024, reflecting the positive trajectory towards profitability with two consecutive EBITDA-positive quarters in the second half of the year. Tekna reported a net loss of CAD 11.0 million for the period, compared to a loss of CAD 11.2 million in 2024. Earnings per share were negative CAD 0.08, compared to negative CAD 0.09 in 2024. Tekna Holding ASA The parent company Tekna Holding ASA is a holding company, with limited activity and a few corporate func- tions. The net loss for the year was CAD 98.8 million, compared to CAD 2.9 million profit in 2024. The negative result of the year was due to an impairment of the invest- ment in Tekna Holdings Canada Inc.. Research and development Investments in research and development (R&D) have been an important part of Tekna’s strategy to develop new and innovative solutions and is expected to remain an important part of the company’s strategy going for- ward. Tekna has a long-term ambition to invest signifi- cantly in R&D. The company’s investments in R&D are critical to its near- and long-term goals and in 2025 it represented 6.6% (7.1%) of its total revenue. The com- pany continued to benefit from the Canadian govern- ment's Strategic Innovation Fund, which supports its re- search and development efforts. This program, running until March 2027, offers Tekna up to CAD 20 million in financial assistance through grants and reimbursable loans. BOARD OF DIRECTORS’ REPORT (CONTINUED) Cash flow Net cash from operating activities was negative CAD 5.3 million, compared to negative CAD 0.1 million in 2024, primarily reflecting the timing of working capital move- ments and the net loss for the year. Net cash used for investing activities was CAD 1.2 million, compared to CAD 2.6 million in 2024, reflecting reduced capital ex- penditures. Net cash from financing activities was CAD 11.8 million, mainly driven by the NOK 300 million rights issue completed in December 2025, which generated net proceeds of approximately CAD 40 million, partially offset by the repayment of the CAD 29 million loan to Arendals Fossekompani ASA. Cash and cash equivalents at year- end were CAD 17.4 million, compared to CAD 12.4 mil- lion at the end of 2024. Financial position Tekna’s financial position was significantly strengthened during the year following the successful completion of the rights issue. At year-end, the long-term debt/equity ratio improved to 0.10, compared to 1.31 at the end of 2024. Interest-bearing debt was reduced to CAD 5.6 million and total non-current liabilities stood at CAD 5.4 million, while the cash position was CAD 17.4 million, resulting in a net cash positive position of CAD 11.8 million. Total assets amounted to CAD 72.5 million. Total equity as of 31 December 2025 amounted to CAD 55.9 million, with an equity ratio of 77%. The credit risk is regarded as low, given that most customers are large multinational companies. A glovebox is used to safely handle the metal powder and keep it under inert conditions with argon.

BOARD OF DIRECTORS’ REPORT | ANNUAL REPORT 2025 | 16 Contents Introduction Performance Financials Corporate Governance Sustainability Appendix Contact Information Subsequent events Litigation appeals in Canada concluded In the first quarter of 2026 Tekna announced a decision issued on January 22, 2026 by the Federal Court of Ap- peal in Canada that unanimously dismissed the appeal filed by AP&C, a subsidiary of GE Aerospace. It found no error in the judgment issued by the Federal Court on June 7, 2024 that found most of the claims of the two Canadian patents asserted against Tekna to be invalid (and all non-infringed). As a result of this, AP&C also withdrew their appeal to get the compensation paid to Tekna in 2024 refunded. Going concern Based on the situation at the end of 2025 as well as the forecast going forward, the company is well-positioned to meet its obligations and continue its business for the foreseeable future. There have been no events to date in 2026 which significantly affect the result for 2026 or valu- ation of the company’s assets and liabilities at the bal- ance sheet date. According to section 3-3a of the Norwegian Accounting Act, the Board confirms that the consolidated financial statements and the financial statements of the parent company have been prepared based on the conditions of going concern and that the conditions are present. Outlook The macroeconomic sentiment continues to be challeng- ing entering 2026. The global economy is being rede- fined and geopolitical tension, trade restrictions and tariffs will make lasting changes to supply chains. In par- ticular, U.S. tariffs have caused a lot of short-term uncer- tainty, but they are ultimately expected to reinforce reshoring and localized manufacturing trends, bolstering growth in additive manufacturing and long-term demand for Tekna’s products. The observed Materials order intake and increasing customer order size, coupled with current market trends, support Tekna’s long-term ambitions of annual double- digit growth towards 2030. The geopolitical uncertainty is also fueling the global trend of increased defense spending. This trend is expected to further generate interesting opportunities in both business areas with increased demand from de- fense OEMs for powders, and for PlasmaSonic systems. Within this environment Tekna will remain focused on profitable growth, working capital reduction and disci- plined capital management. Tekna is already making use and continuously exploring new ways of applying AI tools to improve its administra- tive processes. Furthermore, Tekna has also start- ed exploring the use of AI in powder process develop- ment as well as equipment design. Combined with our extensive base of historical data, these efforts are ex- pected to lead to faster improvement of product and The undertakings likely future developments process parameters, faster and more efficient develop- ment of new alloys as well as better equipment design. Capex for 2026 is expected around CAD 1.5 – 2.0 million, in line with 2025. Operating cost reduction actions will be maintained throughout 2026. In the current environment of economic uncertainty and geopolitical instability, Tekna’s technology and products continue to gain increased relevance, as its customers are transitioning towards new technology and reshoring of manufacturing. At the same time, economic uncertain- ty may also have a dampening effect on the short-term industry growth rate. Even though short term volatility in the additive manufacturing industry must still be ex- pected, several trends support the long term growth per- spective and Tekna is well positioned to benefit from this development. With a strong strategic position, a substantially reduced cost base, a solid balance sheet and a highly committed competent organization, the Board of Directors considers the fundamentals to be in place for Tekna to fully capitalize on the exciting opportunities ahead. BOARD OF DIRECTORS’ REPORT (CONTINUED) Plasma system customization takes place inhouse, whether for Tekna’s own Materials operations or for customers.

BOARD OF DIRECTORS’ REPORT | ANNUAL REPORT 2025 | 17 Contents Introduction Performance Financials Corporate Governance Sustainability Appendix Contact Information Risk factors and risk management Tekna’s Enterprise Risk Management (“ERM”) aims to contribute to the creation, optimization, and protection of enterprise value by managing Tekna’s business risks as it creates value in the marketplace. Tekna’s Board of Directors is ultimately responsible for the governance of risk management. Tekna's Executive Leadership Team is responsible for the ERM, i.e., imple- menting and overseeing the application of efficient risk management processes. The employees of the Company are expected to follow the requirements defined in the Company's policies. Tekna’s Board of Directors and Ex- ecutive Leadership Team conduct risk assessments re- lated to various dimensions and aspects of operations to verify that adequate risk management systems are in place. As a global operator, Tekna is exposed to risk scenarios ranging from controllable risks, such as raw material price fluctuation, currency fluctuation, market changes, competition or fuel price volatility, to uncontrollable ones such as natural disasters. The tariffs imposed by the U.S. Administration increases geopolitical uncertainty and represent a risk of trade war that may have an impact on supply chains. Supply chain disruptions in terms of lead times and shortages can have a significant impact on the company’s business and financial performance. Tekna is currently not able to sell the full production yield of metal powders for additive manufacturing at attractive prices, such that a provision of costs for the accumula- tion of inventory above sales levels is expensed at cost in the financial statements on an ongoing basis. This provi- sion of costs thus limits the financial risk in the financial statements as presented, meanwhile there is a business risk given the uncertainty in timing of market develop- ment and higher sales volumes of the full production yield at attractive prices. The Group's business is subject to price and exchange rate risks. There is no guarantee that the Group will be able to obtain the expected prices for its materials and systems, and any change in the market conditions, including in the global technology and powder markets or in a specific regional and/or end markets in which the Group operates, could lead to lower sales prices or volumes of the Group's products and systems. The most material climate risks in the short and medium term are physical risks in the supply chain and in Tekna’s own operations. There is a risk of extreme weather events impacting Chinese suppliers and their ability to supply Tekna with titanium. Also, extremely high temper- atures put the health and safety of suppliers’ workers in China at risk. Physical climate risks might also impact goods transportation. In the medium and long term, physical risks might impact where the company consid- ers establishing new production locations. A more de- tailed description is to be found in the Sustainability re- port included in that annual report and available on the company’s website from 9 April. Corporate Sustainability Reporting Tekna has prepared a separate Sustainability report in accordance with Section 3-3 of the Norwegian Account- ing Act regarding corporate social responsibility and in line with the European Corporate Sustainability Reporting Directive. The report is included in this annual report and will be available on the company’s website from 9 April. The report describes Tekna’s material impacts, risks and opportunities. The materiality assessment identified the following topics to report on: • Environment: Climate Change (E1) and Resource use and circular economy (E5), • Social: Own workforce (S1) and Workers in the value chain (S2), • Governance: Business Conduct (G1) and Cyber Se- curity (Gx—entity specific). For all these topics it describes the strategy, how it is operationalized through guidelines, targets and an action plan, followed by measurements consisting of 2025 Tekna sets high ethical standards, and communication with the outside world is to be open, clear and honest. The Company is responsible for ensuring safe and good workplaces in the local communities where it is present. Tekna seeks to create value for society, customers, em- ployees and shareholders. Environment Tekna’s environmental impact is two-fold. Tekna has a positive environmental impact through developing prod- ucts which enable a green transition. Tekna produces metal powders for Additive Manufacturing (“AM”) that significantly reduce the metal consumption in product manufacturing processes downstream. In the application of AM parts in airplanes and vehicles parts are usually lighter and therefore more energy efficient (less weight, less fuel consumption). On the other hand, the company also has an environmental impact from internal business operations such as emissions from employee commutes, business travels, energy consumption at the company’s locations and waste generation. Tekna started climate accounting in 2019 and since 2024 it has a complete estimation of material emissions in scope 3, which are mostly up- and downstream GHG emissions. The carbon accounting was updated using CEMAsys’ digital solution, and a full overview can be found in the appendix of the annual report. Tekna has committed to emission reduction targets. For scope 1 and 2 the company has already committed to an absolute reduction of 50% by 2030 over 2021. By 2035 the emissions from Own operations should be carbon neutral. By 2050 the company aims to be able to neutral- ize its upstream emissions. EU Taxonomy Tekna has prepared an EU Taxonomy report, which is part of the annual report and published on the website. Description of the principal risks and uncertainties Sustainability BOARD OF DIRECTORS’ REPORT (CONTINUED)

BOARD OF DIRECTORS’ REPORT | ANNUAL REPORT 2025 | 18 Contents Introduction Performance Financials Corporate Governance Sustainability Appendix Contact Information 80 per cent of Tekna’s global spend comes from suppli- ers based in the EU or North America, which we deem well-governed by legal standards. The remaining 20 per cent is spent on a key raw material, i.e., titanium, sup- plied by two regularly audited manufacturers in China. Both are well-established and qualified suppliers to major western industrial conglomerates. The issue of tantalum and tungsten, sometimes conflict minerals, has been addressed by requiring suppliers to certify the provenance of the material. In addition to ensuring Occupational health and safety, Tekna respects the freedom of association and does not accept any form of forced labor, child labor or work- related discrimination. Reference is made to Sustainabil- ity and Governance documents available at www.tekna.com. People and organization The competence of our employees represents a major asset and competitive advantage for Tekna. At the end of 2025, the Group employed a total of 158 people. The number of employees were divided across locations as follows: The following summarizes the results: • Tekna’s economic activities are eligible under Climate Change Mitigation and not under any of the other five environmental objectives. • Additive manufacturing and PlasmaSonic wind tun- nels are activities assessed as aligned with the EU Taxonomy. However, the substantial contribution criteria are not considered met due to the lack of documentation verified by a third party demonstrating life-cycle GHG emission savings. • All Tekna revenues are eligible except for its R&D revenue (98% in 2025). Total eligible revenue: CAD 35.0 m. • 93% of Tekna’s CapEx is invested in eligible activities, totaling CAD 1.3m. • Tekna does not yet have a CapEx plan aimed at increasing the percentage of aligned activities. • 100% of Tekna’s OpEx is spend on eligible activities, totaling CAD 2.1m. The high percentage of eligible activities reflects the great potential of the company and the challenge for medium-sized companies in niche, high-tech industries to comply with the screening criteria as per the current re- quirements. It is likely that Tekna will not be able to priori- tize the third party research required to prove alignment. Operations The activities covered by the environmental permit as delivered by the Quebec Ministry of Environment, are metallic powders manufacturing and induction plasma systems and auxiliary manufacturing. The manufacturing of both metallic powders and induction plasma systems has relatively low environmental risks. Limited hazardous waste is generated, and mostly from R&D. It is stored and treated according to regulations, air emissions are purified when needed, and wastewater is treated before being disposed of. There are low CO2 emissions (GHG) in our production process. Social Tekna Group is subject to the two following legal frame- works, both having the objective of improving respect for fundamental human rights in supply chains and increas- ing transparency on the topic. • 1 January 2024, the Canadian Fighting Against Forced Labour and Child Labour in Supply Chains Act came into effect. • 1 July 2022, the Norwegian Transparency Act came into effect. The Human Rights and Transparency report is part of the annual report and will be published on the website of the company: www.tekna.com/esg. Tekna takes its social responsibility seriously and contin- ues to embed human rights into company-wide govern- ance and compliance programs. Both Employee and Business Partner Code of Conduct are updated as needed and are approved at board level. Tekna is working to ensure compliance with fundamental human rights and acceptable working conditions in its supply chains and with its business partners. There were no serious work-related accidents and one lost time injury in 2025. Sick leave was 3.7% in 2025, compared to 2.9%in 2024. Activities on gender equality and non- discrimination Tekna is committed to ensuring that people with different backgrounds, irrespective of ethnicity, gender, religion, sexual orientation or age, have the same opportunities for work and career development at Tekna. Women represented 28 per cent of the Tekna workforce in 2025. Out of 33 managers (managers with employees reporting to them) 17 per cent were female. Tekna aspires to substantially increase the share of female employees and is working through the employee life cycle to see where measures could be implemented to enhance diversity across the organization. Tekna’s work- force comprises 21 different nationalities, of which about 2/3 are Canadian. In 2022, Tekna has developed and transitioned its work- ers compensation system to ensure equality, based on an objective job evaluation method that positions employ- ees on the relative value of their jobs. This system is compliant with the legal requirements prescribed by the Commission for labor standards, pay equity and occupa- tional health and safety (CNESST) of the Province of Quebec. Therefore, the average pay for men and women vary due to differences in job categories and years of service, not because of gender. No gender-based differ- ences exist with regard to working hour regulations or the design of workplaces. In 2025, the unadjusted gender pay gap was 20 per cent (17%). Employees per Country 2025 2024 Canada: 137 161 France: 15 18 China: 4 4 South Korea: 1 1 USA: 1 1 Total 158 185 BOARD OF DIRECTORS’ REPORT (CONTINUED)

BOARD OF DIRECTORS’ REPORT | ANNUAL REPORT 2025 | 19 Contents Introduction Performance Financials Corporate Governance Sustainability Appendix Contact Information Currently, Tekna has four Board members, none of whom are members of the company’s management. One Board member is independent of significant business partners. Three Board members, including its Chair Dag Teigland initially elected in 2023, have an affiliation with Arendals Fossekompani ASA, Tekna’s main shareholder. The Audit Committee consists of one dependent and one independent Board member. Tekna’s Board of Directors met for a total of 13 board meetings with 95% participa- tion. The Board members and the Executive Leadership Team are covered by liability insurance. The policy has world- wide coverage, and in addition to financial loss, it pro- vides cover for aggravated, punitive and exemplary dam- ages imposed on the insured, where these are insurable by law. Cyber security Information and Communications Technology (ICT) secu- rity relates to the internal policies and protocols specific The Remuneration policy on determination of salary and other remuneration for leading persons was approved by the Extraordinary General Meeting in October 2022 and a full disclosure can be found in the separate Remunera- tion report. Guidelines for remuneration of leading per- sons are available in the Corporate Governance Policy on the company’s website. The province of Quebec (Canada) has strong legislation on discriminatory harassment in the workplace. The Em- ployee as well as the Business Partner Code of Conduct clearly reject any form of discrimination and emphasize the importance of respect and civility. It also includes a clear process for reporting and dealing with inappropriate behavior. In 2025, the Executive Leadership Team had five male and one female members. The Board of Directors has two female members and two male members. Refer to the Sustainability report for further statistical mapping on gender equality (page 95-97). Governance The Company is subject to corporate governance report- ing requirements as defined in the Norwegian Accounting Act, section 3-3b and the Norwegian Code of Practice for Corporate Governance (the “Code”) available at www.nues.no. Reference is made to the Corporate Gov- ernance Report , which is included in the annual report and will be published on the company’s website on 9 April. Tekna launched a new online independent whistleblowing system. Necessary compliance policies were approved by the board and implemented prior to 2025, particularly the Human Rights policy and the Business Partner Code of Conduct in line with principle 10 of the UN Global Compact 2 . The Ethics and Compliance Committee, which reports to the Audit Committee, is operational. Tekna’s Board of Directors has the overall responsibility for ensuring that the company has a high standard of corporate governance. The Company’s corporate gov- ernance model is designed to provide a foundation for long-term value creation and to ensure good control. The Board has adopted a corporate governance policy to safeguard the interests of the company’s shareholders, employees and other stakeholders. The policy describes the company’s main principles for corporate governance and addresses the framework of guidelines and principles regulating the interaction between the company’s share- holders, the Board of Directors and the Executive Lead- ership Team. These principles and associated rules and practices are intended to increase predictability and transparency, and thus reduce uncertainties related to the business. The company follows the Norwegian Code of Practice for Corporate Governance. The company’s practice is largely in accordance with these recommen- dations. Tekna Holding ASA is a public limited company and is organized under Norwegian law with a governance struc- ture based on Norwegian corporate law and other regula- tory requirements. The company’s shares are freely transferable and are not subject to ownership restrictions pursuant to law, licensing conditions, articles of associa- tion or similar restrictions. to the Group that help ensure that information and data are protected and secure from unwanted breaches or incidents, and handled in such a manner that protect company-specific data and individual rights, and adhere to applicable external regulations. Executives and Finance positions are at risk for their ac- cess to sensitive data and presumed ability to authorize or move money (25 employees in 2025). Tekna does not store personal data of a sensitive nature, except of its own employees. Tekna keeps a log of (attempted) cyber attacks. No suc- cessful cyberattacks have taken place in 2025. Tekna is implementing a cyber security roadmap based on con- clusions of a third party vulnerability test performed in 2023. All employees pass compulsory security aware- ness training on an annual basis and simulated phishing attacks throughout the year. Additional training is im- posed to employees failing security training, simulated phishing attacks or as determined by management. BOARD OF DIRECTORS’ REPORT (CONTINUED)

BOARD OF DIRECTORS’ REPORT | ANNUAL REPORT 2025 | 20 Contents Introduction Performance Financials Corporate Governance Sustainability Appendix Contact Information Declaration by the Board of Directors and CEO We hereby confirm that, to the best of our knowledge, the consolidated annual financial statements for 1 January to 31 December 2025 have been prepared in accordance with applicable accounting standards and that the information in the financial statements give a true and fair view of the assets, liabilities, financial position and profit or loss of the company. We confirm that the financial statements give an accurate and fair view of the development, profit and position of the company, as well as a description of the principal risks and uncertainties it is facing. From left to right: Torkil Sigurd Mogstad (Board observer), Lars Magnus Eldrup Fagernes, Dag Teigland (Chair), Kristin Skau Åbyholm, Ann-Kari Amundsen Heier. “We would like to express our gratitude to all of Tekna's employees for their dedication and contributions to the company's growth and success.” Arendal, 8 April 2026 The Board of Directors and CEO of Tekna Holding ASA This document was electronically signed. Kristin Skau Åbyholm Member of the Board Claude Jean CEO Dag Teigland Chair of the Board Ann-Kari Amundsen Heier Member of the Board Lars Magnus Eldrup Fagernes Member of the Board BOARD OF DIRECTORS’ REPORT (CONTINUED)

FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR’S REPORT | ANNUAL REPORT 2025 | 21 Contents Introduction Performance Financials Corporate Governance Sustainability Appendix Contact Information Findex Financial Statements Financial Index “Findex” ........... 22 Consolidated Income statement..................... 23 Other comprehensive Income ..... 23 Balance sheet .......................... 24 Changes in equity..................... 25 Cash flow ................................. 26 Notes .................................. 27-48 Parent company Income statement..................... 49 Other comprehensive Income ..... 49 Balance sheet .......................... 50 Changes in equity..................... 51 Cash flow ................................. 52 Notes ................................. 53-60 ...... 61 Financial Statements

FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR’S REPORT | ANNUAL REPORT 2025 | 22 Contents Introduction Performance Financials Corporate Governance Sustainability Appendix Contact Information Findex Financial index “Findex” Income statement ............................................................................... 23 Other comprehensive income ............................................................. 23 Balance sheet..................................................................................... 24 Changes in equity ............................................................................... 25 Cash flow ........................................................................................... 26 Notes to the Consolidated Financial Statements Organization and accounting principles............................................... 27 Note 1 Research and Development..................................................... 30 Note 2 Revenue from contracts with customers .................................. 31 Note 3 Other income ......................................................................... 32 Note 4 Remuneration and employee benefits ...................................... 32 Note 5 Other operating expenses ....................................................... 34 Note 6 Income tax .............................................................................. 35 Note 7 Inventories .............................................................................. 36 Note 8 Trade and other receivables .................................................... 36 Note 9 Cash and cash equivalents ...................................................... 37 Note 10 Property, plant and equipment ............................................... 37 Note 11 Intangible assets ................................................................... 38 Note 12 Non-current receivables ........................................................ 39 Note 13 Leases .................................................................................. 39 Note 14 Trade payables and other current liabilities .............................40 Note 15 Financial risk and financial instruments ...................................40 Note 16 Borrowings ............................................................................44 Note 17 Finance items ........................................................................45 Note 18 Share information ..................................................................45 Note 19 Earnings per share.................................................................46 Note 20 Subsidiaries ...........................................................................46 Note 21 Related parties.......................................................................47 Note 22 Contingent liabilities ...............................................................48 Note 23 Subsequent events ...............................................................48 *Appendix Alternative Performance Measures ...................................108 Index Parent Financial Statements Income statement ............................................................................... 49 Other comprehensive income ............................................................. 49 Balance sheet .................................................................................... 50 Changes in equity ............................................................................... 51 Cash flow ........................................................................................... 52 Notes to the Parent Financial Statements Accounting principles ......................................................................... 53 Note 1 Remuneration and employee benefits ...................................... 54 Note 2 Other expenses ...................................................................... 54 Note 3 Tax ......................................................................................... 55 Note 4 Investments in subsidiaries ...................................................... 56 Note 5 Cash and cash equivalents ...................................................... 56 Note 6 Intercompany balances and transactions ................................. 57 Note 7 Financial items ........................................................................ 57 Note 8 Financial risk ........................................................................... 58 Note 9 Share capital and shareholder information ............................... 58 Note 10 Subsequent events................................................................ 60 Index Tip If you want to return to this financial index page, press the red “Findex” button at the top center of a financial page. Independent Auditor’s report ................................................... 61 Consolidated Financial Statements

FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR’S REPORT | ANNUAL REPORT 2025 | 23 Contents Introduction Performance Financials Corporate Governance Sustainability Appendix Contact Information Findex Consolidated Financial Statements Income Statement Other Comprehensive Income Amounts in CAD 1000 Notes FY2025 FY2024 Revenues 2 35 576 37 166 Other income 3 652 3 914 Materials and consumables used 16 613 21 165 Employee benefit expenses 4 15 049 16 392 Other operating expenses 5 7 624 7 515 EBITDA -3 059 -3 993 Depreciation and amortisation 10, 11 4 866 4 021 Net operating income/(loss) -7 925 -8 014 Share of net income (loss) from associated companies and joint ventures - 1 Finance income 17 986 691 Finance costs 17 3 016 2 977 Profit/(loss) before income tax -9 955 -10 299 Income tax expense 6 1 093 851 Profit/(loss) for the period -11 048 -11 150 Attributable to equity holders of the company -11 048 -11 036 Attributable to non-controlling interests - -114 Basic earnings per share 19 -0.08 -0.09 Diluted earnings per share 19 -0.08 -0.09 Amounts in CAD 1000 Notes FY2025 FY2024 Items that may be reclassified to statement of income Exchange differences on translation of foreign operations -139 35 Items that may be reclassified to statement of income -139 35 Items that will not be reclassified to statement of income Items that will not be reclassified to statement of income - - Other comprehensive income/(loss) for the period, net of tax -139 35 Total comprehensive income/(loss) for the period -11 188 -11 115 Attributable to equity holders of the company -11 188 -10 999 Attributable to non-controlling interests - -116                        

FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR’S REPORT | ANNUAL REPORT 2025 | 24 Contents Introduction Performance Financials Corporate Governance Sustainability Appendix Contact Information Findex CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) Balance sheet Arendal, 8 April 2026 The Board of Directors and CEO of Tekna Holding ASA This document was electronically signed. Kristin Skau Åbyholm Member of the Board Claude Jean CEO Dag Teigland Chair of the Board Ann-Kari Amundsen Heier Member of the Board Lars Magnus Eldrup Fagernes Member of the Board Notes 31.12.2025 31.12.2024 Amounts in CAD 1000 Non-current assets Property, plant and equipment 10 22 099 24 446 Intangible assets 11 6 018 6 962 Non-current receivables 12 4 107 4 085 Total non-current assets 32 225 35 493 Current assets Inventories 7 14 394 17 261 Contract assets 2 506 1 502 Trade and other receivables 8 7 964 6 421 Cash and cash equivalents 9 17 424 12 352 Total current assets 40 288 37 536 Total assets 72 513 73 029 Notes 31.12.2025 31.12.2024 Amounts in CAD 1000 Equity Share capital and share premium 18 522 546 497 260 Other reserves -466 642 -470 723 Capital and reserves attributable to holders of the company 55 904 26 537 Total equity 55 904 26 537 Non-current liabilities Borrowings 16 3 755 31 486 Lease liabilities 13 1 251 1 637 Deferred tax liabilities 6 395 1 649 Total non-current liabilities 5 401 34 771 Current liabilities Bank loan 16 1 496 - Lease liabilities 13 660 647 Trade and other payables 14 2 742 3 741 Provision for warranties 182 182 Contract liabilities 2 955 1 513 Other current liabilities 14 4 792 5 217 Borrowings short-term portion 16 380 420 Total current liabilities 11 208 11 721 Total liabilities and equity 72 513 73 029                   

FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR’S REPORT | ANNUAL REPORT 2025 | 25 Contents Introduction Performance Financials Corporate Governance Sustainability Appendix Contact Information Findex Changes in Equity CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) Share capital and share premium Other reserves Total Amounts in CAD 1000 Balance at 1 January 2024 494 956 -455 405 39 552 -1 197 38 354 Profit/(loss) for the period - -11 036 -11 036 -114 -11 150 Other comprehensive income/(loss) - 37 37 -2 35 Settlement/conversion share based 18 payment 2 304 -4 338 -2 034 1 312 -722 Share-Based Compensation - 20 20 - 20 Balance at 31 December 2024 497 260 -470 723 26 537 - 26 537 Balance at 1 January 2025 497 260 -470 723 26 537 - 26 537 Profit/(loss) for the period - -11 048 -11 048 - -11 048 Other comprehensive income/(loss) - -139 -139 - -139 Reduction of share capital 18 -15 102 15 102 - - - Issuance of shares 18 40 388 - 40 388 - 40 388 Share-Based Compensation 4 - 167 167 - 167 Balance at 31 December 2025 522 546 -466 642 55 904 - 55 904 Notes Attributable to equity holders of the Company Non- controlling interests Total equity                   

FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR’S REPORT | ANNUAL REPORT 2025 | 26 Contents Introduction Performance Financials Corporate Governance Sustainability Appendix Contact Information Findex Amounts in CAD 1000 Notes FY2025 FY2024 Cash flow from operating activities Net profit/(loss) -11 048 -11 150 Depreciation, amortization and impairment 10, 11 4 866 4 021 Variation in deferred taxes 6 -1 254 486 Accretion of discounted loan 16 443 402 Loan discount recognition 10, 11, 16 -228 -354 Share-based compensation 167 20 (Gain)/Loss from sales of assets -31 - Net gain from settlement in subsidiary via equity instruments 18 - -722 Capitalized interests on loan 16 1 535 1 946 Investing interest received -155 -334 Financing interest paid 125 108 Share of results from associated companies and joint ventures - -1 Total after adjustments to profit before income tax -5 580 -5 579 Change in inventories 7 2 867 345 Change in other assets -568 4 823 Change in other liabilities -1 981 339 Total after adjustments to net assets -5 263 -72 Net cash from operating activities -5 263 -72 Cash flow CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) Notes FY2025 FY2024 Amounts in CAD 1000 Cash flow from investing activities Proceeds from the sales of PPE 10 67 4 Purchase of PPE and intangible assets, net of grants 10, 11 -1 451 -2 891 Interest received 155 334 Net cash flow from investing activities -1 230 -2 552 Cash flow from financing activities Proceeds from issue of shares 40 388 - Increase (decrease) of bank loan 16 1 496 - New loans 16 613 6 873 Repayment of loans 16 -29 944 -1 263 Repayment of lease liabilities 16 -596 -661 Interest paid -125 -108 Net cash flow from financing activities 11 831 4 840 Change in cash and cash equivalents 5 338 2 216 Cash and cash equivalents at the beginning of the period 12 352 10 148 Effects of exchange rate changes on cash and cash equivalents -266 -13 Cash and cash equivalents at end of the period 17 424 12 352                

FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR’S REPORT | ANNUAL REPORT 2025 | 27 Contents Introduction Performance Financials Corporate Governance Sustainability Appendix Contact Information Findex Notes to the Consolidated Financial Statements Organization and accounting principles Information about the company Tekna Holding ASA is domiciled in Norway, and with headquarters in Sherbrooke, Canada. The consolidated financial statements for financial year 2025 include the company and its subsidiaries (as a whole, referred to as "the Group"). Information about the companies included in the scope of consolidation is disclosed in Note 20. Basis for preparation The consolidated financial statements have been prepared in accordance with International IFRS® Accounting Stand- ards as adopted by the EU and associated interpretations, as well as Norwegian disclosure requirements pursuant to the Norwegian Accounting Act applicable as of 31 December 2025.The annual and consolidated financial statements were approved by the board of directors on 8 April 2026. The financial statements are presented in Canadian dollar (“CAD”), which is the functional currency of the parent com- pany. All amounts disclosed in the financial statements and notes have been rounded off to the nearest thousand CAD units unless otherwise stated. The financial statements have been prepared using the historical cost principle, with the exception of the following assets, which are presented at fair value: Financial instruments at fair value through profit or loss and financial instru- ments at fair value through other comprehensive income. The Group recognizes changes in equity arising from transactions with owners in the statement of changes in equity. Other changes in equity are presented in the statement of comprehensive income (total return). Preparation of financial statements in accordance with IFRS requires the use of assessments, estimates and assump- tions that influence which accounting policies shall be applied, and also influence recognized amounts for assets and liabilities, revenues and costs. Actual amounts can deviate from estimated amounts. Estimates and underlying assumptions are reviewed on an ongoing basis. Changes in accounting estimates are recog- nized in the period in which they arise if they only apply to that period. If the changes also apply to subsequent periods, the effect is allocated over the current and subsequent periods. Areas with significant estimation uncertainties, and where assumptions and assessments made have significantly influ- enced the application of the accounting policies, are disclosed in each relevant note. Accounting policies The accounting policies applied in the preparation of the annual and consolidated financial statements are described below. With the exception of effects described in the section on changes in accounting policies below, the policies are applied consistently for all periods. In case that subsidiaries have used other principles to prepare their separate an- nual financial statements, adjustments have been made so the consolidated financial statements are prepared accor- ding to common policies. Changes in accounting policies for 2025 No new standards have been adopted by the Company and the Group with effect from 1 January 2025.

FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR’S REPORT | ANNUAL REPORT 2025 | 28 Contents Introduction Performance Financials Corporate Governance Sustainability Appendix Contact Information Findex Principles of consolidation Foreign currency translation Functional and presentation currency Items included in the financial statements of each of the group’s entities are measured using the currency of the primary economic environment in which the entity operates (‘the functional curren- cy’). All amounts disclosed in the consolidated financial statements have been rounded off to the nearest thousand CAD units unless otherwise stated. The functional currency of the parent company, Tekna Holding ASA, is the Canadi- an dollar (CAD), reflecting that the Group’s operations, revenues, and primary cost base are predominantly located in Canada. While the parent company is domiciled and listed in Norway, its economic activities are driven by the Canadi- an operating subsidiaries. The presentation currency of the consolidated financial statements is also CAD. Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions, and from the translation of monetary assets and liabilities denominated in foreign currencies at year end exchange rates, are gener- ally recognized in profit or loss. They are deferred in equity if they relate to qualifying cash flow hedges and qualifying net investment hedges or are attributable to part of the net investment in a foreign operation. Foreign exchange gains and losses that relate to borrowings are presented in the statement of profit or loss, within finance costs. All other for- eign exchange gains and losses are presented in the statement of profit or loss on a net basis within other gains/ (losses). Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. Translation differences on assets and liabilities carried at fair value are reported as part of the fair value gain or loss. For example, translation differences on non-monetary assets and liabili- ties such as equities held at fair value through profit or loss are recognized in profit or loss as part of the fair value gain or loss, and translation differences on non-monetary assets such as equities classified as at fair value through other comprehensive income are recognized in other comprehensive income. Revenue recognition Revenues from contracts with customers Under IFRS 15, Revenue from Contracts with Customers, the Group recognizes revenue at the agreed transaction price when control of promised goods or services transfers to the customer, reflecting the consideration the Group expects to be entitled to in exchange for those goods or services. Revenue is recognized either at a point in time or over time, depending on when control transfers, as determined at the inception of each contract. The timing of reve- nue recognition varies based on the nature of the goods or services provided and the specific terms agreed with the customer. The Group’s primary revenue sources are the sale of Materials and the delivery of Systems. Contracts differ based on customer needs, ranging from straightforward material sales to complex system projects involving design, manufactur- ing, and testing. Customers include universities, research laboratories, niche companies, domain experts, small to large industrial firms, and government research centers across industries such as aerospace, defense, medical, con- sumer electronics, and 3D printing. Transaction price - Sale of Materials The Group determines the transaction price for Materials sales as the amount of consideration it expects to be entitled to in exchange for transferring the promised goods to the customer, net of discounts and sales-related taxes, which are collected on behalf of tax authorities. Revenue is typically recognized at a point in time, upon shipment under EXW (Ex Works) or similar terms, when control transfers to the customer. However, this timing may shift depending on ship- ping methods, customer location, export/import regulations, or local trade customs. Materials are sold on standardized or custom specifications, serving a wide range of applications. Pricing is based on market conditions, with discounts periodically offered or applied to high-volume purchases. Payment terms generally align with standard commercial practices (e.g., net 30 days) and may vary depending on customer relationships or order specifics. Customers include small to large industrial companies and government research centers, reflecting a diverse base with needs spanning bulk standardized orders to high-precision custom materials. Fixed price contracts - Sale of Systems Revenue from the sale of Systems is recognized in accordance with IFRS 15, with control transferring over time due to the custom-designed nature of the systems, which have no alternative use, and the Group’s enforceable right to pay- ment for work completed to date. These fixed-price contracts typically span 6 to 18 months, depending on complexity and standardization, and involve activities such as design, manufacturing, testing, and delivery. Revenue is recognized progressively using the percentage-of-completion method, where income and profits are recorded based on the de- NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (- NOTE ORGANIZATION AND ACCOUNTING PRINCIPLES—CONTINUED)

FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR’S REPORT | ANNUAL REPORT 2025 | 29 Contents Introduction Performance Financials Corporate Governance Sustainability Appendix Contact Information Findex gree of work completed. The cost-to-cost method is applied, comparing actual costs incurred to total expected costs, provided the sales price is fixed or determinable and collection is reasonably assured. Payment terms are structured around project milestones, typically including a significant prepayment upon placement of the Purchase Order, a downpayment at design approval, a downpayment at Site Acceptance Test (SAT), and a final payment at Factory Acceptance Test (FAT). Customers, such as universities, research labs, niche companies, and domain experts, collaborate closely with the Group to meet tailored specifications, influencing project timelines and the revenue recognition process. Contract balances Contract balances consist of client-related assets and liabilities. Contract assets relate to consideration for work com- pleted, but not yet invoiced at the reporting date. The contract assets are transferred to trade receivables when the right to payment has become unconditional, which usually occurs when invoices are issued to the customers. When a client pays consideration in advance, or an amount of consideration is due contractually before transferring of the li- cense or service, then the amount received in advance is presented as a liability. Contract liabilities represent mainly prepayments from clients for unsatisfied or partially satisfied performance obliga- tions in relation to licenses and services. Contract assets are within the scope of impairment requirements in IFRS 9. For contract assets the simplified approach is applied, and the expected loss provision is measured at the estimate of the lifetime expected credit losses. Other accounting principles Share-based compensation For share-based compensation by equity instruments granted that do not vest until the employee completes a speci- fied period of service, it is assumed that the services to be rendered as consideration for the equity instruments will be received in the future, during the vesting period. Such services are accounted for as they are rendered by the employ- ee during the vesting period, with a corresponding increase in equity. Government Grants Government grants are recognized when there is reasonable assurance that the grant will be received, and all at- tached conditions will be complied with. The grants related to an expense are presented as other revenues, not against the expense. The grants related to fixed assets or intangible assets are recorded against the cost on a system- atic basis over the periods that the related costs, for which it is intended to compensate, are expensed. When the grant relates to an asset, it is presented in the statement of financial position by deducting the grant in arriving at the carrying amount of the asset. The grant is recognized in the income statement over the useful life of a depreciable asset as a reduced depreciation. Financial Liabilities: Interest-Free Loans The Group recognizes interest-free loans initially at fair value, determined by discounting the future cash flows using a market-related interest rate that reflects the time value of money, and the credit risk associated with the loan. The dif- ference between the nominal amount of the loan and its fair value at initial recognition is recorded as a loan discount in the statement of financial position. Subsequently, the loan is measured at amortized cost using the effective interest method in accordance with IFRS 9 Financial Instruments. The loan discount is amortized over the term of the loan, with the amortization recognized under “Loan discount recognition” as a reduction of purchase in PPE and intangible assets in the balance sheet (note 10 and 11), reduction of non-current debt (note 16) and as an increase of grant as other income in the income statement. Additionally, the unwinding of the discount, representing the theoretical or imputed interest, is presented as “Accretion of discounted loan” within finance costs (note 17) in income statement and an increase of non-current debt (note 16). This approach ensures that the interest-free loans are presented in a manner consistent with the economic substance of the transactions, as required by IFRS. Segment information The Chief Operating Decision Maker (CODM) assesses the financial performance and position of the Group and makes strategic decisions. The internal financial reporting to the CODM is on a consolidated basis. As a result, the Group has only one reportable segment. The CODM is identified as the Board of Directors. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (- NOTE ORGANIZATION AND ACCOUNTING PRINCIPLES—CONTINUED)

Contents Introduction Performance Financials Findex NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (- NOTE ORGANIZATION AND ACCOUNTING PRINCIPLES—CONTINUED) Climate Risk Considerations The company has assessed climate-related risks and their potential impact on the financial statements. In the short and medium term, key physical risks include extreme weather and higher temperatures, which may disrupt the supply of materials like titanium or pose health and safety risks to workers, such as in regions like China, potentially raising costs or delaying production. These risks may also increase transportation costs. In the medium to long term, physical risks could affect decisions on new production locations, impacting future capital expenditures. As of 31 December 2025, no material financial impacts from climate risks have been identified. Management continues to monitor these risks for effects on inventory valuation, cost of sales, and asset impairments, as part of its accounting estimates and judgments. Key Accounting Estimates and Judgments The preparation of these financial statements in accordance with International Financial Reporting Standards (IFRS) requires management to make judgments, estimates, and assumptions. These are based on historical experience, current conditions, and expectations of future events that are considered reasonable under the circumstances. How- ever, actual results may differ from these estimates due to their inherent uncertainty. A key area of estimation uncertainty is: • Provision for slow-moving inventory (Note 7 – Inventories): The provision reflects inventory that may not be sold due to fluctuating demand and market penetration levels, assessed using historical sales, growth rates and order intake. Movements in the provision are also considered material and are driven by changes in inventory levels and historical sales performance. This is deemed a key accounting estimate under IAS 1.125, as it is material and depends on future market conditions (demand) and operational outcomes (production). The provi- sion is sensitive to production (inventory build-up) and demand (sales and orders): Illustrative example: If inven- tory increases while expected sales decline, excess inventory rises and an additional provision may be re- quired, which reduces profit before tax. Conversely, if production is reduced and inventory levels decrease, the amount of inventory considered slow-moving declines, and the provision may be reversed, increasing profit before tax. Estimates are regularly reviewed and updated as new information becomes available. FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR’S REPORT | ANNUAL REPORT 2025 Corporate Governance Sustainability Appendix Contact Information Note 1 Research and development

Amounts in CAD 1000	2025	2024
Salaries	1 828	1 814
Materials and other costs	538	842
R & D Tax credits	-88	-87
Research and Development costs	2 278	2 569
Less: development capitalized	-351	-448
Research expensed	1 926	2 121

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Contents Introduction Performance Financials Findex NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) Note 2 Revenue from contracts with customers Accounting principles and information related to external customers are described in Organization and accounting principles. Disaggregation of revenue from contracts with customers

FY 2025 Amounts in CAD 1000	Systems & Equipment	Materials	Spare parts	Other	Total
Revenue recognized at a point in time	-	27 793	738	613	29 144
Revenue recognized over time	6 431	-	-	-	6 431
Revenue from external customers	6 431	27 793	738	613	35 576
Contribution margin	3 496	14 798	446	223	18 962
Contribution margin %	54.4%	53.2%	60.4%	36.4%	53.3%
Revenue from external customers specified per geographical area:
America	2 622	16 245	556	380	19 803
Europe	-	9 804	-	232	10 036
Asia	3 809	1 744	182	1	5 737
Total	6 431	27 793	738	613	35 576
Order backlog	3 105	17 368	-	-	20 473

The backlog is expected to be recognised as revenue within 24 months. Overview of non-current asset per geography

Amounts in CAD 1000	2025	2024
Canada	30 053	31 884
France	2 101	3 486
Norway	-	-
China	3	17
South Korea	-	3
USA	67	103
Total non-current assets	32 225	35 493

3FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR’S REPORT | ANNUAL REPORT 2025 Corporate Governance Sustainability Appendix Contact Information Customer concentration

Amounts in CAD 1000	2025	2024
Top 1 customer	6.7%	6.7%
Top 10 customers	30.5%	38.3%
Top 20 customers	45.2%	55.5%

There are no customers that represent ten per cent or more of the Group's total revenues on an annual basis in 2025.

2024 Amounts in CAD 1000	Systems & Equipment	Materials	Spare parts	Other	Total
Revenue recognized at a point in time	-	26 504	915	380	27 799
Revenue recognized over time	9 367	-	-	-	9 367
Revenue from external customers	9 367	26 504	915	380	37 166
Contribution margin	5 931	9 083	607	380	16 001
Contribution margin %	63.3%	34.3%	66.4%	100.0%	43.1%
Revenue from external customers specified per geographical area:
North America	3 606	12 608	544	238	16 997
Europe	496	9 331	219	142	10 188
Asia	5 265	4 564	152	-	9 981
Total	9 367	26 504	915	380	37 166
Order backlog	4 781	11 921	-	-	16 702

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Contents Introduction Performance Financials Findex NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) Note 3 Other income Accounting principles and information related to grants and other income are described in the Organization and ac- counting principles. Disaggregation of other income

Amounts in CAD 1000	2025	2024
Grant	620	973
Gain/loss disposals	31	3
Other (Litigation payment)	-	2 938
Other Income	652	3 914

In 2025, the recognised grant includes CAD 564 thousand (2024: CAD 815 thousand) from the Canadian Federal Government's Strategic Innovation Fund (“SIF”), as part of an amended contribution agreement originally announced on June 28, 2018. The SIF program supports research and development initiatives aimed at advancing technology transfer, commercialization, and the growth of innovative firms. The agreement, extended to March 31, 2027, main- tains a maximum disbursement of CAD 20 million, with an accumulated CAD 11.7 million disbursed as of 2025 (2024: CAD 11.2 million). Other income derived from litigation payments pertains to the settlement received from AP&C as reimbursement for a portion of the legal expenses incurred by Tekna. Refer to Note 22 for additional details. Under the Investissement Québec government assistance program that ended in 2024, Tekna received funding tied to the creation of 75 new jobs in addition to the 105 existing jobs in Quebec as of 2017. These 75 jobs must be main- tained through at least March 31, 2028. The assistance has been recognized in the financial statements based on cash received to date. As of the reporting date, there are no related accruals recorded in the balance sheet, as the company has met the job creation and maintenance conditions thus far. However, a contingency exists: non- compliance with the job maintenance commitment could require repayment of the contribution at a rate of CAD 10 700 per year for each of the 75 jobs not sustained. Management continues to monitor compliance with the terms and conditions of the program, including employment- related commitments, and remains in ongoing communication with Investissement Québec regarding the application and interpretation of these conditions over the remaining period of the agreement. FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR’S REPORT | ANNUAL REPORT 2025 Corporate Governance Sustainability Appendix Contact Information Note 4 Remuneration and employee benefits

Amounts in CAD 1000	2025	2024
Salaries	13 032	15 884
Social security contributions	2 202	2 770
Pension costs	460	476
Other benefits	590	802
Share-Based Compensation	167	20
Capitalized as development, inventories etc.	-1 402	-3 559
Total employee benefit expenses	15 049	16 392
Average number of full time employees	170	201

Share option plan—Tekna Group The guidelines for remuneration of leading persons in the Tekna group was approved by the shareholders at the annu- al general assembly dated 3 May 2023. The establishment of the share option plan was approved by the shareholders at the annual general assembly dated 15 May 2024. The board of directors of Tekna Holding ASA (the "Company") has resolved to implement an employee share option plan (the "Plan"). The Plan is available to eligible individuals as determined by the board of directors. The Plan enables the eligible person to acquire a proprietary interest in the growth and performance of the Company and to enhance the ability of the Company to attract, retain and reward qualified individuals. Options can be granted on an annual or ad hoc basis, with annual grants projected for 2024, 2025, and 2026, all subject to the board's discretion. Upon exercis- ing their options, option holders can choose between acquiring shares after paying the strike price or opting for a cashless transaction. The latter involves the transfer of a number of treasury shares equivalent to the NOK amount of the number of exercised options, multiplied by the difference between the Company's shares' market price and the strike price. On 21 November 2025, the board of directors has granted a total of 3,410,000 options in the 2025 allocation round. These options have a strike price of NOK 3.25. Issued options vest 33% after one year, 33% after two years, and 33% after three years. The expiry date for any option granted is the date falling 24 months following the vesting date and will lapse if not exercised. The share options plan has been treated as an equity-settled plan under IFRS. The strike price of the share options will be based on the volume weighted average share price over the last five last trading days preceding the grant date. The total profit each option holder may achieve shall be limited to the lesser of 400% of the fair market value of the | 32

Contents Introduction Performance Financials Findex NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (- NOTE 4 CONTINUED) share at grant, and 400% of annual fixed salary of the option holder in the year of grant. Set out below are summaries of options granted under the plan:

	2025		2024
	Average exercise price per share option	Number of options	Average exercise price per share option	Number of options
As at 1 January	4.88	2 124 000	-	-
Granted during the year	3.25	3 410 000	4.88	2 124 000
Exercised during the year	-	-	-	-
Forfeited during the year	4.88	-659 000	-	-
As at 31 December	3.74	4 875 000	4.88	2 124 000

During 2025, certain share options were forfeited in connection with employee departures, resulting in a reduction in the number of outstanding options. No options expired during the periods covered by the tables above. Share options outstanding at the end of the year have the following expiry dates and exercise prices:

Grant Date	End of period	Contractual days remaining	Expiry date price	Exercise options 2025	Share Share options 2024
23 Oct 24	31 Dec 24	1 026	23 Oct 27	4.88	488 333
23 Oct 24	31 Dec 24	1 392	23 Oct 28	4.88	488 333
23 Oct 24	31 Dec 24	1 757	23 Oct 29	4.88	488 333
21 Nov 25	31 Dec 25	1 055	20 Nov 28	3.25	1 136 667
21 Nov 25	31 Dec 25	1 421	21 Nov 29	3.25	1 136 667
21 Nov 25	31 Dec 25	1 786	21 Nov 30	3.25	1 136 667
Total				3 410 000	1 465 000

Weighted average remaining contractual life (years) of options outstanding at end of period: 3.92 FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR’S REPORT | ANNUAL REPORT 2025 Corporate Governance Sustainability Appendix Contact Information

Name	Title	Share options
		2025	2024
Luc Dionne	CEO	-319 000	319 000
Espen Schie	CFO	200 000	140 000
Claude Jean	CEO	1 000 000	-
Other executive management		720 000	560 000
Other key employees		1 150 000	1 105 000
Total share options		2 751 000	2 124 000

Fair value of options granted The assessed fair value at grant date of options granted during the year ended 31 December 2025 was NOK 0.8, 0.98 and 1.11 for the different vesting periods. The fair value at grant date is independently determined using an adjusted form of the Black-Scholes model that considers the exercise price, the term of the option, the share price at grand date and expected price volatility of the risk-free interest rate for the term of the option, and the volatilities of the peer group companies. The model inputs for options granted during the year ended 31 December 2025 included:

Vesting Year	2025	2026	2027
a) Options are granted for no consideration and vest after one, two and three years (service condition). Vested options are exerciseable for a period of 24 months years after vesting.
b) Share price	4.6	4.6	4.6
c) Exercise price	4.88	4.88	4.88
d) Risk free-rate (3, 4 and 5 year)	3.53%	3.53%	3.53%
e) Volatility	35%	38%	39%
f) Maturity	3	4	5
g) Days (360 per year)	1 080	1 440	1 800
h) Date of exercise	23 Oct 27	23 Oct 28	23 Oct 29
i) Valuation date	23 Oct 24	23 Oct 24	23 Oct 24

The estimated expected price volatility is based on the median of volatilities of the peer group companies over an his- torical period of 3-5 years since Tekna has a short historical period only. The estimated expected lifetime of the options is set at 3,4 and 5 years. | 33

Contents Introduction Performance Financials Findex NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (- NOTE 4 CONTINUED) Total expenses arising from share options are recognized during the period as part of employee benefit expenses and based on vesting of 84% regarding service condition from share options granted 2024 and 100% for share options granted 2025, which represent the actual churn, and adjusted for the profit cap of 400% of the fair market value of the share at grant.

Vesting Year	2026	2027	2028
a) Options are granted for no consideration and vest after one, two and three years (service condition). Vested options are exerciseable for a period of 24 months years after vesting.
b) Share price	3.15	3.15	3.15
c) Exercise price	3.25	3.25	3.25
d) Risk free-rate (3, 4 and 5 year)	3.81%	3.86%	3.91%
e) Volatility	32%	34%	34%
f) Maturity	3	4	5
g) Days (360 per year)	1 080	1 440	1 800
h) Date of exercise	20 Nov 28	21 Nov 29	21 Nov 30
i) Valuation date	21 Nov 25	21 Nov 25	21 Nov 25

Expenses arising from share-based payment transactions Total expenses arising from share-based payment transactions recognized during the period as part of employee ben- efit expense were as follows:

Amounts in CAD 1000	2025	2024	2023
Expense of options issued under employee share option plan	167	20	-
Total share options expenses	167	20	-

Amounts in CAD 1000	2025	2024	2023
Share price 31 Dec 2025	3.15	3.25	-
Intrinsic value (out-of-the money @ 4.88 exercise price)	-0.10	-1.63	-
Number of subscription rights	3 410 000	2 124 000	-
Accrual payroll tax	-	-	-

For this share-based incentive program no new shares have been issued during 2025. The share incentive program was only applicable in 2025 and no new shares have been purchased. For further information see the Remuneration Report. FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR’S REPORT | ANNUAL REPORT 2025 Corporate Governance Sustainability Appendix Contact Information Note 5 Other operating expenses

Amounts in CAD 1000	2025	2024
Maintenance equipment & buildings	441	792
Marketing, travel and representation costs	731	1 020
Consultants and professional fees	1 243	1 348
IT costs	1 244	1 291
Bad debts	-15	-513
Manufacturing overhead costs	3 980	3 577
Total operating expenses	7 624	7 515

For additional details regarding bad debt, please refer to Note 8 and note 15. Remuneration to auditor

Amounts in CAD 1000	2025	2024
Statutory audit	460	500
Other assurance services	30	28
Tax advisory	42	52
Other non-audit services	-	-
Total remuneration to auditor	532	581

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Contents Introduction Performance Financials Findex NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) Note 6 Income tax

Amounts in CAD 1000	2025	2024
Tax payable on ordinary income	2 347	366
Adjustment for previous years	-	-
Current tax expense	2 347	366
Deferred tax expense	-1 254	486
Total tax expense in the income statement	1 093	851
Reconciliation of effective tax rate
Profit / (loss) before income tax	-9 955	-10 299
Tax based on current ordinary tax rate	-2 638	-2 729
Effect of non-deductible expenses	416	524
Effect of unrecognised tax loss carryforward	3 362	3 026
Effect of changed tax assessments for previous years	-47	30
Total tax expense	1 093	851
Effective tax rate	-10.97%	-8.26%

Differed tax assets and liabilities

Amounts in CAD 1000	2025	Assets	Liabilities	Net assets
Property, plant and equipment		1 198	-	1 198
Intangible assets		-	-1 119	-1 119
Other items		233	-	233
Restricted interest - EIFEL		999	-	999
Tax loss carryforward		20 986	-	20 986
Unrecognised tax assets		-22 297	-	-22 297
Recognised tax loss carryforward		-	-	-
Deferred tax asset/liability		1 119	-1 119	-
Offsetting of assets and liabilities		-	-395	-395
Net deferred tax asset/liability		1 119	-1 514	-395

FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR’S REPORT | ANNUAL REPORT 2025 Corporate Governance Sustainability Appendix Contact Information

Amounts in CAD 1000	2024	Assets	Liabilities	Net assets
Property, plant and equipment		767	-	767
Intangible assets		-	-1 179	-1 179
Other items		113	-	113
Restricted interest - EIFEL		1 241	-	1 241
Tax loss carryforward		21 225	-	21 225
Unrecognised tax assets		-22 167	-	-22 167
Recognised tax loss carryforward		-	-	-
Deferred tax asset/liability		1 179	-1 179	-
Offsetting of assets and liabilities		-	-1 649	-1 649
Net deferred tax asset/liability		1 179	-2 828	-1 649

The Group discloses tax losses carried forward on a gross basis in the expiry analysis by jurisdiction. For Canadian purposes, federal and provincial loss balanc- es are computed under separate tax regimes and are presented side by side for expiry profile purposes; they should not be aggregated. Deferred tax assets related to tax losses are recognized only to the extent it is probable that future taxable profit will be available against which the losses can be utilized, and are measured using the enacted (or substantively enact- ed) tax rates applicable in each jurisdiction. Accordingly, amounts presented in the deferred tax table represent the tax effect of losses (i.e., losses multiplied by the applicable tax rate) and may differ from the gross loss carry forwards disclosed in the expiry analysis. The amount of losses carried forward subject to expi- ration represent CAD 65.8m for federal income tax purposes and CAD 67.6m for provincial tax purposes and CAD 7.6m from France that do not expire. The federal income tax rate is 15% and the provincial in- come tax rate is 11%. Some of the losses are expiring according to the following table:

Amounts in	Canada		France
CAD 1000 Year	Federal	Provincial
2044	1 769	1 542	-
2043	7 545	8 093	-
2042	19 726	19 726	-
2041	13 166	13 132	-
2040	3 258	3 171	-
2039	4 929	5 052	-
2038	3 297	3 300	-
2037	4 457	4 644	-
2036	2 288	2 288	-
2035	1 864	1 897	-
2034	1 890	3 151	-
2033	115	115	-
2032	292	291	-
2031	585	585	-
2030	260	260	-
2029	326	328	-
No expiry	-	-	7 634
	65 767	67 574	7 634

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Contents Introduction Performance Financials Findex NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) Note 7 Inventories Inventory stock

Amounts in CAD 1000	2025	2024
Raw materials	5 998	8 104
Work in progress	622	493
Finished goods	7 774	8 664
Total inventories (net after provision for obsolescence)	14 394	17 261

Provision for obsolescence related to finished goods

Amounts in CAD 1000	2025	2024
Balance at 1 january	5 894	4 737
New provisions recognised during the year	4	2 156
Provisions reversed	-1 480	-999
Balance at 31 December	4 418	5 894

Provision slow moving When producing powder of a specific alloy, the process generates a distribution of size fractions, which are dedicated to various markets and applications. Some of the size fractions could accumulate in inventory, depending on the de- mand and on the level of market penetration. A provision for slow moving inventory is recorded by Tekna following a periodic review of historical sales data for each fraction as well as the growth rate of sales and order intake. The provi- sion could fluctuate depending on the level of inventory and the historic performance of sales. FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR’S REPORT | ANNUAL REPORT 2025 Corporate Governance Sustainability Appendix Contact Information Note 8 Trade and other receivables Trade receivables

Amounts in CAD 1000	2025	2024
Trade receivables from contracts with customers	6 681	4 823
Loss allowance	-102	-136
Total	6 579	4 687

Provision for losses *

Amounts in CAD 1000	2025	2024
Balance at 1 january	-136	-4 075
Change in expected losses and outstanding receivables	-99	-121
Provisions reversed	114	1 078
Realized bad debts	19	3 044
Exchange differences on translation of foreign operations		-61
Balance at 31 December	-102	-136

*For more information about credit risk and write-downs, see note 15. Other receivables

Amounts in CAD 1000	2025	2024
Indirect Tax Receivable	312	735
Refundable deposit on Raw material	397	308
Grant and Investment tax credit receivable	258	273
Loan to employees	-	-
Prepaid Expenses	418	418
Total	1 385	1 734
Total trade and other receivables	7 964	6 421

*For more information about credit risk and write-downs, see note 15. | 36

Contents Introduction Performance Financials Findex NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) Note 9 Cash and cash equivalents

Amounts in CAD 1000	2025	2024
Total cash at bank	17 424	12 352
Restricted cash	-	-

Note 10 Property, plant and equipment

Amounts in CAD 1000	2025	Vehicles, machinery and equipment	Buildings and land	RoU assets	Total
Year ended 31 December 2025
Cost at 1 January 2025		29 607	13 387	5 105	48 099
Purchase of PPE, net of grants		979	120	133	1 232
Loan discount recognition		-128	-20	-	-148
Disposal		-356	-	-	-356
Translation adjustments		346	97	181	624
Cost at 31 December 2025		30 448	13 584	5 419	49 451
Accumulated depreciation at 1 January 2025		14 761	6 035	2 857	23 653
Depreciation		2 366	626	617	3 609
Disposal		-320	-	-	-320
Translation adjustments		253	65	92	409
Accumulated depreciation at 31 December 2024		17 059	6 726	3 566	27 352
Carrying amount at 31 December 2025		13 389	6 858	1 853	22 099

FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR’S REPORT | ANNUAL REPORT 2025 Corporate Governance Sustainability Appendix Contact Information (- Note 10 continued)

Amounts in CAD 1000	2024	Vehicles, machinery and equipment	Buildings and land	RoU assets	Total
Year ended 31 December 2024
Cost at 1 January 2024		27 909	13 145	3 471	44 525
Purchase of PPE, net of grants		2 114	329	1 548	3 991
Loan discount recognition		-510	-92	-	-602
Disposal		-13	-23	-	-36
Translation adjustments		107	28	86	221
Cost at 31 December 2024		29 607	13 387	5 105	48 099
Accumulated depreciation at 1 January 2024		13 031	5 469	2 131	20 631
Depreciation		1 673	568	668	2 909
Disposal		-13	-18	-	-31
Translation adjustments		70	16	58	144
Accumulated depreciation at 31 December 2024		14 761	6 035	2 857	23 653
Carrying amount at 31 December 2024		14 846	7 352	2 248	24 446

Property, plant and equipment is recognized at historical cost less depreciation. Depreciation is calculated using the straight-line method over their estimated useful lives as follows:

Asset:	Period:
Building	25 years
Equipment incl. development cost	5-8 years
Mobile infrastructure incl. development cost	25 years
Permanent systems incl. development cost	10 years
RoU assets	5-8 years

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