We are proud to share our integrated annual report for 2023. The report provides a comprehensive review of our work, achievements, and future strategy. All employees of ScaleAQ Group are encouraged to read the report.

In 2023, we reached significant milestones and strengthened our market position. We have focused on sustainable growth, innovation, and continuous improvement to meet the needs of our customers and partners.

Highlights from the report include:

???? Economic growth: Our financial performance has been solid, with increased revenues and improved profitability.

???? Innovation: New products and technologies have been developed to enhance the efficiency and quality of our services.

???? Customer stories: We share success stories from our customers that demonstrate how our solutions have contributed to their growth and success.

???? Sustainability:

• Our new venture, «Scale Circular», represents a major step forward for circular economy, with an increased focus on reuse and recycling of equipment.
• Increased use of recycled plastic material from 2 to 23% from 2022 to 2023 in non-bearing structures.
• By offering lifespan extension of the floating collars to our customer the use of virgin plastic material has been reduced by almost 400 tons.
• The climate account for 2023 has been significantly improved, with a shift towards quantity details replacing financial data and an inclusion of all the ScaleAQ divisions. Transparency and accurate reporting are crucial for effective sustainability efforts.
• Environmental Product Declaration two products have been published, floating collar and sinker tube.
• Almost all delivered vessels from Moen Marin in 2023 were with hybrid solution and large battery packages. With charging infrastructure and short distances to sites, many vessels now operate fully electric.
• Compliance with the EU directive on sustainability reporting (CSRD/ESRS) is underway. Double material assessments for all divisions reflect a thorough approach to understanding environmental impacts.
• Implemented a software solution for increased social control and monitoring of strategic suppliers in line with The Transparency Act requirements
• Biological documentation program developed
• An overall positive trend in the number of recordable injuries (25% decrease) and a decrease of more than 30% of the Total Recordable Injury Frequency
• ScaleAQ Podcast (Spotify+++) focusing on technology, sustainability and aquaculture. Sharing knowledge and insights is essential for driving sustainability awareness.