NHST GROUP’S DEVELOPMENT IN THE FOURTH QUARTER OF 2024

• The financial results of the Group showed significant progress in the fourth quarter. Earnings before
  depreciation and amortization reached NOK 24.8 million, compared to NOK 9.5 million in the fourth
  quarter 2023. The improvement was mainly driven by higher user market revenues in DN Media Group,
  and by good cost control across the Group.

• Total revenues for the NHST Group were 4.6 per cent higher in the fourth quarter 2024 compared to the
  fourth quarter 2023.

• DN Media Group`s total revenues were 7.1 per cent higher than in the fourth quarter 2023. User market
  revenues grew by 7.8 per cent. The growth in digital subscription revenues was 21.1 per cent in the
  quarter, while the reduction in print-based revenues continued.

• Revenues from advertising and sales of commercial services in DN Media Group continued to recover from
  the low levels seen in 2023 and showed an increase of 2.4 per cent compared to the fourth quarter 2023.

• In the SaaS segment, Mynewsdesk showed a positive development in the quarter with a growth in new
  sales of 5.4 per cent compared to the fourth quarter 2023 and an EBITDA for the quarter at SEK 4.8 million
  compared to SEK 0.8 million in the fourth quarter 2023.

• Mention Solutions experienced a reduction in recognized revenues of 15.0 per cent versus the year before
  The efforts to sell the business of Mention Solutions continued. In December 2024, conciliation
  proceedings were initiated. This procedure aims to negotiate with creditors and to identify potential
  investors who can acquire the business. Within this procedure, bids were received in mid-January 2025 for
  selected assets and contracts of the company and to take over a part of the employees. Final decisions on
  the bids will be made by the commercial court in Paris.

• In the third quarter of 2024, the Group made a provision equal to the net assets of Mention Solutions. Due
  to the level of bids received, the remaining assets related to Mention Solutions in the Group balance sheet
  were written off in the fourth quarter, with an effect of NOK 13.2 million which was reported under
  depreciation.

• Development of products and support systems continues in both segments.
  
• The Group repaid a total of NOK 45 million of bank debt at 31. December 2024. Following the repayment,
  Group liquidity was satisfactory with cash holdings amounting to NOK 111.4 million.

Total revenues for the Group in the fourth quarter were NOK 316.4 million, an increase from NOK 302.5 million in
the fourth quarter 2023.

Group operating expenses were NOK 291.7 million in the quarter, versus NOK 293.0 million in the corresponding
quarter 2023. Excluding non-recurring items, the operating expenses were reduced by NOK 3.5 million or 1.2 per
cent.

Group EBITDA for the quarter, before no-recurring items, was NOK 34.4 million versus NOK 16.9 million in the
fourth quarter 2023 while EBITDA including non-recurring items was NOK 24.8 million (2023 NOK 9.5 million).

Investments in product and process development were NOK 9.1 million in the quarter, compared to NOK 18.1
million in the corresponding quarter last year. The investment level in the media business was reduced, and
capitalization of development expenses in Mention Solutions has ceased.