DTU Finacial Statements 2025

EXTRACT OF FINANCIAL STATEMENT 2025

Content 3

Company information

4

Statement

6

Independent auditor's report

7

Extract of Financial Statements

9

Income statement

10

Balance sheet as at 31 December

11

Cash flow statement

12

Statement of changes in equity

14

Notes

16

Key figures for the main activities

EXTRACT OF FINANCIAL STATEMENTS 2025

Company information COMPANY

BOARD OF GOVERNORS AS AT 1 FEBRUARY 2026

EXECUTIVE BOARD AS AT 1 FEBRUARY 2026

Margrethe Vestager, Chair

Anders Overgaard Bjarklev

Prev. European Commissioner for Competition and

President

Technical University of Denmark Anker Engelunds Vej 101 DK-2800 Kgs. Lyngby

Executive Vice President of the European MUNICIPALITY OF REGISTRATION Lyngby-Taarbæk Company reg. no. 30 06 09 46

Commission. World Leaders Fellow, Blavatnik School of Government, University of Oxford.

Asmus Jarl Møller Christensen Elected by and among students

AUDIT

Ulrik Juul Christensen

Rigsrevisionen

Chairman and CEO,

Landgreven 4

Area9 Lyceum

DK-1301 Copenhagen K

Henrik Clausen Professional board member,

INSTITUTIONAL AUDITORS EY Godkendt Revisionspartnerselskab Dirch Passers Allé 36 DK-2000 Frederiksberg

Marianne Dahl Professional board member and Senior Tech Advisor, BCG Nina Kjærgaard Hendel Senior Executive Officer (employee representative, technical/administrative staff)

Christine Nellemann Executive Vice President, Provost Claus Nielsen Executive Vice President, University Director Marianne Thellersen Senior Vice President for innovation and entrepreneurship, MSc (Eng), eMBA Lars D. Christoffersen Dean of Education and Student Affairs Carsten Orth Gaarn-Larsen Senior Vice President, Private and Public Sectors Services Camilla Rygaard-Hjalsted Dean of Sustainability, Diversity, Inclusion and Talent Development

Charlotte Rønhof Professional board member Annekatrine Kirketerp-Møller Elected by and among students Kasper Moth-Poulsen ICREA professor at the Polytechnic University of Catalonia and professor at Chalmers University of Technology Ole Sigmund Professor and Villum Investigator (employee representative, scientific staff)

3

STATEMENT

Statement The Financial Statements consist of extracts from the Annual Report 2025 of DTU (Technical University of Denmark). The original report is in Danish. The Annual Report has been approved by the Board of Governors and the Executive Board and the Financial Statements have been audited by the University's institutional auditors, EY Godkendt Revisionspartnerselskab.

Link to the Annual Report 2025

The figures in the Extract of Financial Statements are in DKK (Danish kroner).

25 June 2026

Bjarke Bak Christensen Acting University Director

4

EXTRACT OF FINANCIAL STATEMENTS 2025

Executive Board The Board of Governors and the President have on 7 April 2026 approved the Annual Report of The Technical University of Denmark for the financial year 1 January - 31 December 2025.

Signatures of the Board of Governors and the President are included in the full version of the Annual Report 2025.

Anders Overgaard Bjarklev President

Christine Nellemann Executive Vice President, Provost

Claus Nielsen Executive Vice President, University Director

Lars D. Christoffersen Dean of Education and Student Affairs

Carsten Orth Gaarn-Larsen Senior Vice President, Private and Public Sectors Services

Camilla Rygaard-Hjalsted Dean of Sustainability, Diversity, Inclusion and Talent Development

Marianne Thellersen Senior Vice President innovation and entrepreneur­ ship, MSc (Eng), eMBA

Board of Governors

Margrethe Vestager, Chair

Asmus Jarl Møller Christensen

Ulrik Juul Christensen

Henrik Clausen

Marianne Dahl

Nina Kjærgaard Hendel

Annekatrine Kirketerp-Møller

Kasper Moth-Poulsen

Charlotte Rønhof

Ole Sigmund

5

INDEPENDENT AUDITOR'S REPORT

Independent auditor's report TO THE BOARD OF GOVERNORS OF DTU Conclusion The summary financial statements, which comprise the summary balance sheet at 31 December 2025, summary income statement, summary statement of changes in equity and summary cash flow statement for the financial year 1 January - 31 December 2025 and related notes, are derived from the audited financial statements of DTU for the financial year 1 January – 31 December 2025.

In our opinion, the accompanying summary financial statements are consistent, in all material respects, with the audited financial statements in accordance with the accounting rules of the Danish State, the Danish University Act, Executive order no. 764 of 19 June 2025 on university funding and auditing, etc., and the Danish Agency for Higher Education and Science’s guidelines on the preparation of annual reports (‘the accounting rules’).

Summary financial statements The summary financial statements do not contain all the information required by the accounting rules.

Reading the summary financial statements and the auditor's report thereon is therefore not a substitute for reading the audited financial statements and the auditor's report thereon.

The summary financial statements and the audited financial statements do not reflect the effects of events that occurred subsequent to the date of our report on the financial statements.

The audited financial statements and our auditor's report thereon We expressed an unmodified audit opinion on the audited financial statements in our auditor's report dated 7 April 2026 Management's responsibilities for the summary financial statements Management is responsible for the preparation of summary financial statements in accordance with the accounting rules.

Auditor's responsibilities Our responsibility is to express a conclusion as to whether the summary financial statements are consistent, in all material respects, with the audited financial statements based on our procedures, which were conducted in accordance with ISA 810 Engagements to Report on Summary Financial Statements.

Copenhagen, 15 June 2026 Independent auditor's report EY Godkendt Revisionspartnerselskab CVR no. 30 70 02 28

6

Ulrik Benedict Vassing State Authorised Public Accountant mne44147

EXTRACT OF FINANCIAL STATEMENTS 2025

Extract of Financial Statements ACCOUNTING POLICIES Basis of Accounting DTU’s annual report is prepared in accordance with the Danish State Accounting Act, etc, (Lov om statens regnskabsvæsen mv,), Danish Executive Order no.

116 of 19 February 2018 on state accounting (Bekendtgørelse om statens regnskabsvæsen), the guidelines of the Danish Ministry of Finance’s financial and administrative guide (Finansministeriets Økonomisk Administrative Vejledning), the Danish University Act (Universitetsloven), Consolidated Act no. 391 of 10 April 2024, Danish Executive Order no. 912 of 25 June 2025 on university funding and auditing, etc. (Tilskuds- og revisionsbekendtgørelsen), and the Danish Agency for Higher Education and Science’s guidelines on the preparation of annual reports, In accordance with the accounting rules, no consolidated financial statements have been prepared.

The financial statements are presented in DKK 1,000.

Exemptions DTU has been granted exemptions for the following areas: • Presentation of costs in the income statement classified by nature • Recognition of donations • Internal state purchase and sale Special areas Foreign currency translation Transactions in foreign currencies are converted at the exchange rate prevailing on the transaction date, Gains and losses arising due to differences in the exchange rate prevailing on the transaction date and the exchange rate prevailing on the payment date are recognized in the income statement as a financial item.

Capitalization limit Non-current assets the historical cost of which exceeds the limit of DKK 100,000 is depreciated according to the linear method.

7

8

BALANCE SHEET AS AT 31 DECEMBER

INCOME STATEMENT 1 JANUARY – 31 DECEMBER Note

2025

2024

State subsidies

1

3,148,552

3,010,615

Other subsidies

2

2,834,065

2,570,712

Sale of goods and services

3

592,964

794,533

Other income

4

173,605

175,222

Total operating income

6,749,186

6,551,081

Staff costs

4,242,963

3,964,924

DKK 1,000

Rent

72,243

65,764

Depreciation etc

677,786

644,003

Other operating costs Total operating costs

5

Profit before financial items

1,616,629

1,769,084

6,609,621

6,443,775

139,565

107,307

Financial income

6

30,545

54,930

Financial costs

6

162,543

161,345

7,567

892

Net profit for the year

9

BALANCE SHEET AS AT 31 DECEMBER

ASSETS Note

2025

2024

Acquired concessions, patents, licenses, software, etc.

7

25,974

77,167

Intangible from development

7

2,338

3,140

Intangible assets under development

7

27,515

7,023

55,828

87,330 5,450,103

DKK 1,000

Total intangible assets Land and buildings

8

5,304,152

Contract work in progress

8

632,338

413,524

Installations

8

2,308,181

2,232,000

Leasehold improvement

8

43,861

38,566

Transport equipment including ships

8

11,418

12,286

Plant, machinery, and equipment

8

1,014,238

1,020,612

IT equipment

8

111,494

123,928

Fixtures and equipment

8

35,764

50,514

9,461,446

9,341,532

Total property, plant, and equipment Equity investments in subsidiaries

9

275,763

275,530

Other equity investments

10

9,491

10,250

Deposits

11

2,774

654

288,029

286,435

9,805,303

9,715,297

Total investments Total non-current assets Deposits

11

1,106

1,106

Trade receivables

12

356,014

486,217

Receivables from ongoing funding activities

13

1,280,965

1,017,365

Other receivables

14

90,058

164,846

Other prepayments

15

25,014

27,214

1,753,157

1,696,748 197,100

Total receivables Derivative financial instruments

19.b

386,194

Securities

16

259,049

257,418

Cash

1,367,113

1,139,595

Total current assets

3,765,512

3,290,861

Total assets

13,570,815

13,006,158

10

BALANCE SHEET AS AT 31 DECEMBER

EQUITY AND LIABILITIES DKK 1,000

Note

Equity as at 1 January 2002

2025

2024

1,831,515

1,831,515

Retained earnings

167,103

159,536

Other equity

919,135

671,921

Total equity

2,917,753

2,662,973

41,308

48,840

Provisions

17

Accrued donations

18

895,579

763,059

Mortgage debt

19.a

5,299,435

5,417,719

Derivative financial instruments

19.b

Total non-current liabilities

48,953

107,073

6,243,967

6,287,851

Short-term portion of accrued donations

18

90,731

86,967

Short-term portion of long-term debt to the state, municipalities, banks, and mortgage credit institutions

20

116,077

54,697

Bank debt

21

0

0

45,645

41,559

Payroll liability Holiday pay obligation Prepaid earmarked funding Balance with the Ministry of Children And Education Other deferred income

22

Trade payables Other short-term debt

23

245,828

230,811

2,586,974

2,528,044

0

992

489,906

341,058

396,720

473,014

395,905

249,352

4,367,787

4,006,494

Total liabilities

10,611,754

10,294,345

Total equity and liabilities

13,570,815

13,006,158

Note

2025

2024

Other obligations

24

54,365

87,193

Contingent assets and liabilities

25

5,054

7,795

Total current liabilities

DKK 1,000 Furthermore, the following is disclosed in connection with the balance sheet:

11

STATEMENT OF CHANGES IN EQUITY

EQUITY 2025

2024

Equity, opening balance

2,662,973

2,788,556

Equity as at 1 January 2002

1,831,515

1,831,515

Balance, beginning of year

159,536

158,645

Movements of the year

7,567

892

Balance, end of year

167,103

159,536

DKK 1,000

Retained earnings

Other equity Balance, beginning of year

671,921

798,397

Movements of the year

247,213

-126,475

Balance, end of year

919,135

671,921

Of these, value adjustment of non-callable financial instruments Balance, beginning of year

90,027

216,502

Movements of the year

247,213

-126,475

Balance, end of year

337,240

90,027

586,118

586,118

Of these, adjustments relating to mergers Balance, beginning of year Movements of the year

0

0

Balance, end of year

586,118

586,118

-4,224

-4,224

Other adjustments relating to equity Balance, beginning of year Movements of the year

0

0

Balance, end of year

-4,224

-4,224

2,917,753

2,662,973

Balance, end of year

12

CASH FLOW STATEMENT

CASH FLOW DKK 1,000

2025

2024

Net profit for the year

7,567

892

677,786

644,003

Depreciation etc. of non-current assets Gains/losses on the disposal of non-current assets Accrued asset donations

5,620

9,756

-93,131

-89,517

Gains/losses on the disposal of asset donations

1,746

858

Other non-cash operating items

1,881

-305

593,901

564,794

Reversal of items without effect on cash flow: Changes in receivables, etc. excluding ongoing funding activities

205,071

-51,214

Changes in ongoing funding activities

-263,600

333,988

-7,532

15,330

Change in provisions Changes in current liabilities excluding prepaid earmarked funding

237,219

20,340

Changes in prepaid earmarked funding

58,930

-232,332

Changes in working capital:

230,089

86,112

Total cash flows from operating activities

831,556

651,798

Purchase of intangible assets

-37,497

-24,495

Sale of intangible assets Purchase of property, plant, and equipment Sale of property, plant and equipment Total cash flows from investing activities

1,375

2,540

-739,090

-697,135

293

1,868

-774,919

-717,222

Repayment of bank and mortgage debt

-56,904

-28,823

Asset donations received

229,415

131,760

Total cash flows from financing activities

172,511

102,937

Cash flows for the year

229,148

37,513

Cash including total securities, beginning of year

1,397,013

1,359,500

Cash including total securities, end of year

1,626,162

1,397,013

13

NOTES

Please note that the following is an extract of the full financial statements for 2025

Note 1 State subsidies (DKK 1,000)

Educational subsidies, full-time programmes

2025

2024

1,026,063

937,528

Educational subsidies, part-time/open programmes

3,152

6,748

Educational subsidies from the Ministry of Children and Education

37,391

26,723

Subsidies for other purposes Subsidies for research and development Subsidies for research-based scientific advice

16,174

18,937

1,827,571

1,783,610

238,201

237,069

3,148,552

3,010,615

2025

2024

Subsidies for research activities from public Danish sources, etc.

963,862

785,561

Subsidies for research activities from private Danish sources, etc

1,017,445

991,586

Subsidies for research activities from the EU

400,920

371,252

Subsidies for research activities from foreign sources, etc.

194,627

147,575

Other subsidised activities

164,078

183,847

Accrued asset donations

93,131

89,517

Total

Note 2 Other subsidies (DKK 1,000)

External Requisition Payments Total

0

1,374

2,834,065

2,570,712

2025

2024

Note 3 Sale of goods and services (DKK 1,000)

Course activities (income-generating activities)

10,752

9,303

Other sale of goods and services

582,212

785,230

Of which commercial sale of goods and services

375,247

363,485

Of which sale of notes, etc.

206,965

421,745

592,964

794,533

2025

2024

Tuition fees, full-time programmes

65,939

66,396

Tuition fees, part-time/open programmes

52,930

44,936

Rental of premises and equipment

44,979

44,476

Sale of buildings, land, and equipment

1,534

3,806

Other income

8,222

15,608

173,605

175,222

Total

Note 4 Other income (DKK 1,000)

Total

14

NOTES

Note 12 Trade receivables (DKK 1,000)

Trade receivables, etc.

Receivables from subsidiaries Reserve for losses on trade receivables, etc.

Total

2025

2024

365,813

501,524

84

150

-9,884

-15,458

356,014

486,217

2025

2024

1,958

1,970

Note 24 Other obligations (DKK 1,000)

Contractual obligations: The International Housing Foundation (Boligfonden) DTU, maintenance obligations relating to leases Subsidies from the Danish Building and Property Agency Rental obligations Operating lease obligations Total

5,456

6,168

41,702

62,791

5,249

16,264

54,365

87,193

In 2013, DTU received DKK 16.4 million for joint localization of activities at the Lyngby Campus from the Danish Building and Property Agency. In addition, in 2018, DTU received subsidies of DKK 263 million for joint localization of activities at the Lyngby Campus from the Danish Building and Property Agency. In case of the sale or demolition of the buildings concerned,the University is contractually obliged to repay the subsidies in full.

Note 25 Contingent assets and liabilities (DKK 1,000) 2025

2024

Civil servants, redundancy pay

5,054

7,795

Total

5,054

7,795

In respect of PhD students, the University guarantees the students’ pay during the three-year period in which their employment is non-terminable on the part of the University. This guarantee may be used if the pay costs are not covered by the companies or institutions with which training agreements have been made.

The area where the University is located was formerly Lundtofte Airfield (northern part) and a nursery garden (southern part).

In the south-west end of the area, there used to be a landfill. The area was originally a plain that gently sloped to the north. It was terraced in connection with the construction of the University, which means that a very large part of the buildings and terrain installations were constructed on/established in backfill. There have been a few findings of limited oil and/or heavy metal pollution in the ground.

15

KEY FIGURES FOR THE MAIN ACTIVITIES

Extract of main and key figures 2025

2024

2023

2022

2021

Income statement State subsidies, DKKm Other subsidies, DKKm Sale of goods and services, DKKm Other income, DKKm Total operating income, DKKm Staff costs, DKKm Rent, DKKm Depreciation etc Other operating costs, DKKm Total operating costs, DKKm Profit before financial items and extraordinary items, DKKm Net profit or loss for the year, DKKm

3,148.6 2,834.1 593.0 173.6 6,749.2 4,243.0 72.2 677.8 1,616.6 6,609.6 139.6 7.6

3,010.6 2,570.7 794.5 175.2 6,551.1 3,964.9 65.8 644.0 1,769.1 6,443.8 107.3 0.9

2,892.3 2,413.4 729.0 192.5 6,227.2 3,599.1 63.8 614.6 1,756.5 6,033.9 193.2 79.2

2,802.1 2,186.8 666.6 145.8 5,801.2 3,503.9 65.2 631.8 1,724.0 5,925.0 -123.8 -290.1

2,826.2 2,072.8 776.1 123.9 5,799.1 3,390.1 70.7 593.8 1,550.0 5,604.6 194.4 43.5

Balance sheet Non-current assets, DKKm Balance sheet total, DKKm Equity, DKKm Non-current liabilities, DKKm

9,805.3 13,570.8 2,917.8 6,244.0

9,715.3 13,006.2 2,663.0 6,287.9

9,652.4 13,295.6 2,788.6 6,278.9

9,261.4 13,413.1 2,966.3 6,258.0

9,177.8 12,255.5 1,709.6 7,076.3

0.1% 91.4% 21.5% 55.6% 77.5%

0.0% 87.0% 20.5% 58.2% 83.0%

1.3% 91.0% 21.0% 59.1% 87.9%

-5.0% 105.0% 22.0% 62.0% 94.0%

0.8% 94.5% 13.9% 72.2% 109.7%

10.8

9.3

8.2

7.9

1.6

FINANCIAL RATIOS

Financial ratios Profit margin Acid test ratio Solvency ratio Financing ratio Debt ratio* Course activities, commercial activities Course activities, income-generating activities, revenue in DKKm

16

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EXTRACT OF FINANCIAL STATEMENTS 2025 PRODUCTION STIBO COMPLETE PHOTOS ARNAJARAQ STØVLBÆK, BAX LINDHARDT, PERNILLE BAK ANDREASEN, SVENN HJARTARSON DANMARKS TEKNISKE UNIVERSITET ANKER ENGELUNDS VEJ 101 BYGNING 101A 2800 KGS. LYNGBY WWW.DTU.DK