Appendix to Fiven 2022 Annual report - Alternative Performance Measures (APMs) An APM is defined as a financial measure of historical or future financial performance, financial position, or cash flows, other than a financial measure defined or specified in the applicable financial reporting framework (IFRS). Fiven uses Adjusted EBITDA to measure operating performance at the group and segment level. In particularly management regards Adjusted EBITDA as relevant performance measures at segment level because intangible assets, income tax and finance expenses/ finance income, are managed on a group basis. The APMs presented herein are not measurements of performance under IFRS or other generally accepted accounting principles and should not be considered as a substitute for measures of performance in accordance with IFRS. Because companies calculate the APMs presented herein differently, Fiven’s presentation of these APMs may not be comparable to similarly titled measures used by other companies. Fiven’s financial APMs defined: Adjusted EBITDA Adjusted EBITDA shows the Group’s operating profit before Depreciation and amortization, before items that require special explanation and is defined as reported EBITDA before “Other income and expenses” (OIE). OIE include one-off and non-recurring operating expenses, but excludes operating income from excess power sales for 2022. The Adjusted EBITDA is the Group`s key financial figure, internally and externally. The figure is used to identify and analyze the Group’s operating profitability from normal operations and operating activities, excluding the effects from depreciation and amortization. Please note there is a discrepancy between the Adjusted EBITDA measure and the EBITDA (defined in the bond agreement) as per Fiven’s bond terms (i.e., the one reported to the Bond Trustee), as the APM does not cap other non-recurring costs at 12.5% as does the bond terms. Fiven Annual Report 2022 104 Alternative Performance Measures
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