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Year-End Report 2025 – Q4

The fourth quarter of 2025 represented a transformative shift for Byhmgard AB in connection with the completion of the reverse listing in November, whereby Byhmgard Construct AB was acquired by the previously listed company Spiffbet AB, which subsequently changed its name to Byhmgard AB (publ).

During the quarter, focus was placed on the integration of operations and the implementation of measures to strengthen the Group’s financial position and establish a stable platform for continued development within battery energy storage systems (BESS) and critical energy infrastructure.

In parallel with the integration process, the Company continued to execute on its growth strategy. On December 30, the Company signed its largest agreement to date — a BESS project in Finland with an order value of SEK 43 million — confirming market demand for the Company’s business model of developing and packaging energy storage projects for investors and industrial clients.

During the quarter, Byhmgard also strengthened its strategic position through international partnerships in China and initiated the establishment of Joint Ventures in Italy and Finland.

Subsequent to the end of the quarter, an additional agreement with Solarigo System Oy was signed with an order value of SEK 33 million, which, together with previous orders, contributes to a strengthened foundation for continued growth during 2026.

Byhmgard currently operates through two complementary business areas: development of proprietary BESS projects and the sale of turnkey energy solutions. The Company intends to continue scaling its project portfolio through strategic partnerships and investments in critical energy infrastructure.

Significant Events During the Fourth Quarter of 2025

On October 20, 2025, an Extraordinary General Meeting in Spiffbet AB resolved to acquire Byhmgard AB.
On November 24, 2025, Byhmgard Construct AB was approved for listing on Nordic Growth Market through a reverse acquisition of Spiffbet AB.
On November 25, 2025, changes in the Company’s management were announced in connection with the transaction.
On November 27, 2025, the name change from Spiffbet AB to Byhmgard AB (publ) was registered.
On December 1, 2025, the Company entered into a strategic partnership with Jiangxi Ship Group regarding large-scale BESS projects in Europe.
On December 11, 2025, a Joint Venture in Italy was established as part of the Company’s international expansion strategy.
On December 15, 2025, CTO Johan Thorsted increased his shareholding in the Company by 385,000 shares.
On December 30, 2025, the Company entered into an agreement with Solarigo System Oy regarding a BESS project with an order value of approximately SEK 43 million.

Significant Events After the End of the Reporting Period

On January 2, 2026, CFO Dragan Cadjo increased his shareholding in the Company by 270,000 shares.
On January 7, 2026, the Company announced its intention to acquire a 30 MW battery energy storage project in Latvia.
On January 13, 2026, Patrik Bloemer was appointed Head of Engineering.
On January 14, 2026, Board member Fredrik Crafoord increased his shareholding by 5,000,000 shares.
On January 21, 2026, Chairman of the Board Mikael Odenberg increased his shareholding to 550,000 shares.
On January 22, 2026, the Finnish subsidiary Byhmgard Oy was established together with Several Oy, in which Byhmgard AB holds a 90 percent ownership stake.
On January 23, 2026, an Extraordinary General Meeting, based on an established second balance sheet for liquidation purposes (KBR 2) showing that the share capital had been fully restored, resolved that the Company’s operations shall continue.
On February 9, 2026, an additional order from Solarigo System Oy was signed regarding a BESS project with an order value of approximately SEK 33 million.