NORS AFTERMARKET

The year 2022 highlighted the success of the redesign of our logistics process in the Aftermarket sector, carried out in 2021. The area showed a total sales growth of 12.6%, highlighting the positive evolution of business efficiency. This scenario translates into a total EBITDA for the Aftermarket area of 6.2 million Euros, compared to a value close to zero in 2021.

Onedrive Portugal, AS Parts and Civiparts Portugal

OneDrive Portugal and AS Parts are the brands responsible for the retail of parts for light vehicles in Portugal. Civiparts Portugal distributes multi-brand workshop parts and equipment for trucks and buses.

In Portugal, the Aftermarket business presented, in 2022, an increase in sales of 9.9%, when compared with 2021 - an evolution based on the benefits obtained, by improving the company's efficiency, from the implementation of the Core and OCLA projects, and from the restructuring of the logistics process carried out in 2021.

The Aftermarket business in Portugal is currently prepared to react quickly to the challenges that the market may present. Always seeking to meet the expectations of the level of service required by customers, we are convinced that the future of operations will gain importance within the Nors Group.

Civiparts Angola and OneDrive Angola

Civiparts Angola distributes multibrand workshop parts and equipment for trucks and buses. OneDrive Angola is responsible for retail parts for light vehicles in this market.

Aftermarket Angola posted growth in sales of 57.4% and EBITDA of 176.1%reaching an absolute value, for this last indicator, of 2.8 million Euros.

In 2022 the process of integrating the light and heavy Aftermarket businesses was concluded with a view to increasing the efficiency of the businesses - with results already obtained this year. It is our conviction that the foundations are in place for the results to continue to grow in the coming years.

3.2.2.4.

Nors Ventures

The year 2022 was marked by the positive evolution of Amplitude and Vitrum's results, whose EBITDA grew by 23.2% and 2,669.8% respectively - also highlighting Sotkon's absolute EBITDA of 2,049 thousand Euros, which represents 67% of Nors Ventures' EBITDA.

Sotkon

Sotkon is a company with several patented products, dedicated to the design, manufacture and sale of modular systems for recycling and collection of solid urban waste, through underground containers. Sotkon is present in several markets, namely Portugal, Spain and France.

The year 2022 was marked by Sotkon's strong investment in the commercial area, with the growth of the international distribution network which translated, already in 2022, into sales to new markets, such as the Croatian market and the Georgian market.

Sotkon showed a good financial performance - its turnover exceeded 10 million Euros and EBITDA was 2.0 million Euros. Despite representing a decrease in these indicators compared to 2021, we highlight the excellent performance and resilience shown by the company in a less favourable context of the buried container market.

With a view to the sustainability of its growth, Sotkon will continue to invest actively in research and development, evaluating new opportunities for collaboration with entities in the scientific and technological sector.

It will also focus on activities that promote its products and the visibility of the Sotkon brand in markets of strategic priority, in particular Portugal, Spain, France and Eastern Europe.

Amplitude Seguros

Amplitude Insurance is an insurance and risk broker that operates in various segments and sectors of the economy.

In 2022, the company continued to strengthen its position in the Insurance Brokers segment, presenting a turnover of €1.5 million (+11.8% compared to 2021) - growth supported by the acquisition of new clients and the increase in variable commissions related to the quality of the management of the insurance portfolio.

Sales growth translated into a 23.2% growth in Amplitude's EBITDAexcellent performance for the company after a 31.4% growth in 2021.

Amplitude will maintain its strategy of organic growth, always keeping in mind its role as the Nors Group's insurance and risk consultant, while leveraging the business opportunities generated by the sale of complementary services.

Vitrum

Vitrum is positioned in the Angolan market as a company specialised in construction glass and production and application of vinyl projects.

In 2022, Vitrum presented a 61.4% growth in turnover - an evolution supported not only by the growth in sales of construction glass, but also by the growth in vinyl application activity.

The increase in activity translated into an increase in absolute EBITDA, closing 2022 with a growth of 414 thousand Euros, compared to 2021.