Uno-X Mobility Annual and Sustainability Report 2022

Highlights 2022

Women’s team

Uno-X Pro Cycling women’s team participated in the worlds first Tour de France Femmes, an important step for more gender equality in international pro cycling.

Uno-X Ultrafast EV Chargers

Successful launch of our concept for ultrafast EV charging in Norway and Denmark. Seven locations in operation at the end of the year.

Men’s team

Uno-X Pro Cycling men’s team invited to Tour de France 2023, a major recognition of the team’s achievements.

Swan Ecolabelled Car Wash

Continued roll-out of Nordic Swan ecolabelled car wash in Norway and Denmark, with a total of 52 locations up and running at the end of the year.

Uno-X Pro Cycling Team

Promoting cycling as an important measure for reducing emissions from road transport.

Photo: Wordup Projects

Uno-X Mobility Annual and Sustainability Report 2022

CEO’s Corner

Uno-X Mobility is one of four business areas in Reitan Retail, besides REMA 1000 in Norway, REMA 1000 in Denmark and Reitan Convenience. Our subsidiaries in Norway and Denmark have business operations under the Uno-X and YX brands.

Uno-X Mobility’s mission is to develop and promote solutions for sustainable mobility.

2022 has in many ways been a challenging year. In February Russia attacked Ukraine, a war that is still ongoing. Consequently, the world economy and the markets for refined fuel have been characterised by great uncertainty throughout the year. At the same time, the aftermath of Covid 19 has been affecting the world economy.

Transportation is a reality of our life and without effective and affordable transportation it becomes impossible for any kind of movement from one place to another. At Uno-X Mobility we have an important societal role offering fuel for road transportation, and as always, we have been committed to conducting our operations in a safe and responsible manner, securing fuel and energy for transportation purposes.

Road transportation still generates a large share of the world’s greenhouse gas emissions, due to the continued dependence on fossil fuels. As a significant actor in

the Norwegian and Danish markets Uno-X Mobility has a major responsibility to offer solutions for more sustainable mobility.

One of our contributions is to offer ultrafast EVs charging at easily accessible locations operated by Reitan Retail in Norway and Denmark. We believe road transport electrification will form a substantial part of international strategies to mitigate greenhouse gas and air pollutant emissions. Uno-X offer fast, simple, and low-priced charging with the price visible as for fuel, and easy payment by tapping of ordinary payment cards without the customer having to deal with

OUR VALUES GUIDE US IN THE WAY WE WORK:

1. We stick to our business model

2. We keep high moral standards

3. We are committed to be debt-free

4. We encourage a winning culture

5. We are positive and proactive

6. We talk with each other, not about each other

7. The customer is our ultimate boss

8. We work for fun and profit

We operate our business based on the REITAN mindset

Our mission Develop and promote solutions for sustainable mobility.

complicated mobile phone apps. By year end we have opened 7 locations offering ultrafast charging. In the medium term, 1 000 EVs will be able to charge with us simultaneously.

Authorities report environmental concerns when people wash their cars at home, releasing hazardous contaminants in wash wastewater. We have ambitious plans for our Uno-X Nordic Swan ecolabelled car wash, being gentler to health and environment compared to an ordinary car wash, or a wash at home in the driveway. Naturally, the concept offers an easy and efficient customer experience. During 2022 we opened 35 Nordic Swan

ecolabelled car washes, comprising 52 at year end, and we will continue further developing our network at a rapid pace.

As a part of our marketing strategy and our passion for sports, we engage in ownerships and sponsorships in elite sports, and cycling is our main priority. Cycling for various purposes is gaining increasingly more international attention in connection with the world’s climate challenges. Boosting cycling levels will reduce CO2 emissions and contribute to more sustainable mobility in society at large. Uno-X Mobility owns and operates Uno-X Pro Cycling Team, consisting of a women’s and a men’s team, supporting our efforts to promote sustainable mobility.

Both teams participate in Tour de France 2023, providing interesting opportunities for engagement and global visibility.

Going forward we will continue to work hard to further develop and promote solutions for sustainable mobility, aiming for independence of fossil fuels, while adapting to changes in demand from our customers.

In 2022 our subsidiaries have once again delivered solid results, and Uno-X Mobility is well positioned for the future.

UNO-X IN NORWAY

▪ Low-priced fuel

▪ Nordic Swan ecolabelled car wash

▪ Nationwide network of self-service stations

▪ Efficient and convenient customer experience

▪ Leading in its market

UNO-X IN DENMARK

▪ Low-priced fuel

▪ Nordic Swan ecolabelled car wash

▪ Nationwide network of self-service stations

▪ Efficient and convenient customer experience

UNO-X E-MOBILITY IN NORWAY AND DENMARK

▪ Ultrafast EV charging at Reitan Retail locations in Norway and Denmark

▪ Efficient and convenient customer experience

YX IN NORWAY

▪ Fuel supplier and partner for YX dealers that owns and operates service stations

▪ Supplier and forecourt partner for YX 7-Eleven locations

▪ Self-service truck locations complement the network in the truck market

YX IN DENMARK

▪ Fuel from self-service truck locations customised for the transport sector

▪ Fuels for commercial and agricultural markets

▪ Heating fuels for private and commercial customers

LUBRICANTS IN NORWAY AND DENMARK

▪ Texaco lubricants

▪ Anderol food grade lubricants and Panolin environment considerate lubricants

▪ Exports to Greenland, Iceland, the Faroes, Finland and the Baltics

SOURCING, STORAGE AND DISTRIBUTION

▪ Uno-X Forsyning handles sourcing and storage in Norway, including operation of tank facilities

▪ In Denmark sourcing lies with YX Danmark A/S, and tank facilities are operated by the accociated company Samtank A/S

▪ Distribution of liquid fuels is handled by the associated company Skanol in both countries

UNO-X KONCEPTDESIGN

▪ Develops and pre-fabricates concept elements for Uno-X locations

▪ Fuel location concept

▪ Nordic Swan ecolabelled car wash concept

▪ Ultrafast EV charging concept

ASSOCIATED COMPANIES

▪ Skanol is responsible for distribution of fuels in Norway and Denmark

▪ Scanlube produces Texaco lubricants on licence from Chevron Texaco

▪ Samtank operates tank facilities for fuels in Denmark

Module built for quick install and lower enviromental impact.

Nordic Swan Ecolabelled Car Wash by Uno-X

Photo: Wordup Projects

Our business

About the organisation

Uno-X Mobility is a business area in Reitan Retail, besides REMA 1000 in Norway, REMA 1000 in Denmark and Reitan Convenience – owned by REITAN.

Our mission is to develop and promote solutions for sustainable mobility.

When further developing and positioning Uno-X Mobility for the future, we have a holistic view of our operations to mitigate our key areas of impact on society. In this report, we will go into further detail on how environmental, social, and governance topics are an integrated part of our business and highlight our approach to minimise our negative impact in the value chain while maximising the positive.

Activities and Value Chain

The company has operations in Norway and Denmark under the Uno-X and YX brands, and offers fuels, ultrafast EV charging and Nordic Swan ecolabelled car wash to the marked. Uno-X also have a passion for more everyday cycling as an important measure for more sustainable mobility.

Uno-X Mobility’s operations mainly fall into the sector of oil and gas, as our main sales products are fuels, consisting of fossil fuels and biofuels. Though it is important to note, as we offer EV charging and car wash at many of our locations, the scope of this

reporting extends further than oil and gasrelated topics. The complete value chain stretches from producing and processing raw materials from different parts of the world to the consumption of fuels by private and business customers - in Denmark and Norway. In the value chain of our owned and controlled operations, we cover storage, distribution, and operations of the unmanned stations.

In the value chain context our business relationships with our suppliers are crucial. We emphasise the importance of trust and have therefore made the conscious decision to have longstanding supplier partnerships with reputable suppliers.

Governance Structure and Composition

CEO in Uno-X Mobility AS is the highest governance body for decision-making on economic, environmental, and social topics in daily operations, and reports to the Board of Directors. The General Manager in each subsidiary of Uno-X Mobility has the overall responsibility for creating, planning, implementing, and integrating the strategic direction of each subsidiary.

Uno-X Mobility is a part of Reitan Retail, a family-owned business. Uno-X Mobility board members are assessed and appointed by the owners, the Reitan family. Ole Robert Reitan is the CEO of Reitan Retail and chairman of the Board of Uno-X Mobility AS.

Uno-X Mobility’s Sustainability Officer has the responsibility of coordinating the management of the organisation’s impacts on a day-today basis, and reports directly to the CEO

of Uno-X Mobility. The CEO, alongside the Sustainability Officer and the administration, develops the organisation’s purpose, mission statements, strategies, policies and goals related to sustainable development. They also conduct relevant analyses to identify and manage the organisation’s impacts on the economy, environment, and people. This is presented to the Board of Directors, who assess the organisation’s implemented processes and their effectiveness on an ongoing basis. The Board of Directors holds the ultimate responsibility for decisionmaking in relation to Uno-X Mobility’s impacts and the connected mitigation, prevention, and remediation strategies.

Reitan Retail has outlined a plan for quarterly board meetings in each business area, but more frequent meetings are set up if needed. The company´s impacts on the economy, environment and people are addressed at every meeting. In terms of sustainability reporting, The Board of

Directors is responsible for reviewing and approving the reported information, including the organisation’s Material Topics. This also applies to the verification of Uno-X Mobility’s GHG accounting. The Annual and Sustainability Report is presented and reviewed by the board before publication.

COMMUNICATION OF CRITICAL CONCERNS

As outlined in our employee Code of Conduct, if any employee of Uno-X Mobility suspects a possible violation of the Code or other unethical conduct, they should report this immediately. Any possible violations or other unethical conduct can be reported to their manager, their manager’s manager, or the company’s whistleblowing channel (through a third party). Whistleblower notifications are anonymous. Critical concerns are put on the agenda in board meetings.

External Framework and Stakeholder Dialogue

GOVERNMENT DIALOGUE

At Uno-X Mobility, we recognise that achieving a society independent of fossil fuels for road transport is crucial in mitigating climate change. Therefore, we believe that engaging in constructive and close dialogue with governing bodies in Denmark and Norway is essential. Public regulations play a significant role in governing the emission reduction technologies used for road transport and stimulating market growth.

Reducing CO2 emissions and addressing climate change will be a central part of Uno-X Mobility’s discussions with decisionmakers in the coming years. As a major player in our markets, we are positioned to make a significant positive impact and are committed to developing and promoting sustainable mobility solutions to contribute to reducing pollution and improving air quality in Denmark and Norway.

EUROPEAN UNION

At Uno-X Mobility, we recognise the importance of monitoring regulatory policies prepared by the EU. Denmark is part of the EU and implements its regulations on an ongoing basis, while Norway takes more time to evaluate before implementation.

The EU Commission has signalled the establishment of a new system for trading emission quotas for road transport and buildings. This system will apply to fuel suppliers who must cover emissions from fuel sales. To address rising emissions from road transport, the EU also plans to complement emissions trading with other measures, including stricter CO2 standards for cars and delivery vans. The EU’s goal is for 100 percent of new registered cars to be zero-emission by 2035, which means a possible ban on the sale of new ICE (Internal Combustion Engine) vehicles. The EU has also proposed setting emission requirements for new vehicles for heavy transport. While the electrification of the car fleet takes time, with the lifespan of an ICE vehicle close to 20 years, it is important

for authorities to set long-term objectives that enable a responsible transition to new technologies to be offered in the market. At Uno-X Mobility, we are committed to supporting and promoting sustainable mobility solutions as we work towards achieving a society independent from fossil fuels.

NATIONAL GOVERNING BODIES Fuel

Our collaboration with governing bodies in Denmark has been in coordination with the national industry association Drivkraft Danmark. Together we have achieved significant outcomes. New regulations implemented by the Danish government, a CO2 displacement requirement, is effective from 2022 along with indirect land use change (ILUC) effects from 2025. Biofuels derived from palm and soy are excluded, and limits have been set for biofuels produced from animal fats and used cooking oil.

We believe that the CO2 displacement requirement extended to include multiple technologies that can reduce emissions, will

provide an even better framework to enable faster and more cost-effective emission reductions in the transport sector.

In Norway, we also align our government dialogue with the industry association Drivkraft Norge. We will continue to work towards establishing a CO2 displacement requirement in Norway, in conjunction with the industry association. In December 2022, major EV charging operators in Norway joined Drivkraft Norge as members. Hence, the Norwegian industry association now represents a broader range of players and technologies in the transport sector than just fuels, as seen in the Danish industry association.

EV Charging

Establishing an infrastructure for electric vehicle (EV) charging is a critical step in reducing emissions from road transport. In both countries, we are working with industry associations to promote regulations that support the development of an EV charging infrastructure. One of the key obstacles to overcome is the need for faster access to electricity at locations where EV charging stations are established. The authorities have identified the most important obstacles through dialogue with the market players and are currently working to adapt regulations to facilitate faster development of an EV charging infrastructure.

STAKEHOLDER ENGAGEMENT

Uno-X Mobility and our subsidiaries have a continuous dialogue with key stakeholders, both internal and external, as part of daily operations. This gives important input and knowledge about how to further develop our businesses.

The identified key stakeholders are listed on the next page. These were identified and outlined during our 2021 materiality assessment and are still applicable for this year’s reporting.

CUSTOMERS EMPLOYEES

AND PARTNERS SUPPLIERS AUTHORITIES COMMUNITIES

NGO’S (NON-GOVERNMENTAL ORGANISATIONS)

▪ Environment, health and safety (EHS)

▪ Affordable prices

▪ Efficient and convenient customer experience

▪ E-mobility

▪ Environment, health and safety (EHS)

▪ Business strategy

▪ Value-based culture

▪ Training and development

▪ An active and healthy lifestyle

▪ Suppliers Code of Conduct (SCoC)

▪ The Norwegian Transparency Act (Åpenhetsloven)

▪ Fossil fuels

▪ Biofuel feedstocks, no soy or palm oil

▪ Transportation of fuels

▪ Fossil fuels

▪ Biofuel feedstocks, no soy or palm oil

▪ E-mobility

▪ Suppliers Code of Conduct (SCoC)

▪ The Norwegian Transparency Act (Åpenhetsloven)

▪ Environment, health and safety (EHS)

▪ Sustainable mobility

▪ Nordic Swan ecolabelled car wash

▪ E-mobility

▪ Uno-X Pro Cycling Team, inspiring more everyday cycling

▪ Emissions reductions from road transport

▪ E-mobility

▪ Nordic Swan ecolabelled car wash

▪ Biofuel feedstocks, no soy or palm oil

Materiality Assessment

In preparation for this year’s sustainability report, Uno-X Mobility has conducted an impact-based materiality assessment, in line with the GRI Standards 2021. Our materiality assessment lay the foundation for our ESG pathway conducted though a thorough review of our own operations and value chain. During the winter of 2022-23, we have identified key material topics for our disclosure to ensure that all relevant and significant company impacts are included. As part of the updated GRI 2021 disclosure, an Oil and Gas (O&G) Sector Standard has been published. All relevant material topics from this sector standard has been included in our disclosure of significant impacts on the economy, environment, and people, including impacts on human rights. Though it is worth noting, that due to the structure of our operations, some topics are not applicable and will not be reported on. The reason for omission is indicated, with an explanation in the GRI Content Index found on Uno-X Mobility’s website.

The process of identifying significant impacts was achieved through a materiality analysis in which all company activities were listed, followed by an assessment of actual and potential negative and positive impacts related to each activity in our value chain. All impacts were ranked according to scale, scope, and likelihood of significance where a threshold for material topics was set. Negative and positive impacts were scored separately, to ensure that negative impacts were not deprioritised. Negative impacts concerning human rights were appointed additional scoring points, as the severity of human rights violations will always outweigh their likelihood. Once ranked, the impacts were grouped into material topics. The naming of the topics is company specific, as this gives the most accurate representation of Uno-X Mobility’s most significant impacts. The applicable disclosures outlined in the O&G Sector Standard have been merged into the material topics. The linkage is indicated in the GRI Content Index.

ENVIRONMENT

▪ GHG Emissions

▪ Spills

▪ Water and Effluents Management

ETHICAL VALUE CHAIN

▪ Human Rights

▪ Business Ethics and Anti-Corruption

PEOPLE AND CULTURE

▪ Employer- and Employment Practises

▪ Environment, Health and Safety

Seven material topics were included over threshold and grouped under three strategic focus areas for Uno-X Mobility – Environment, Ethical Value Chain, and People and Culture.

Prioritised list of Material Topics

Based on our business operations and associated value chain, some material topics were identified for this year’s reporting but placed under threshold for the reporting year 2022, including

Local Communities, Biodiversity, Safe and Compliant Infrastructure and Procedures, Land and Resource Rights, Indigenous People, Closure and Rehabilitation.

Following, the threshold was set for the material topics, as indicated in the list over prioritised material topics.

LIST OF PRIORITISED MATERIAL TOPICS WITH THRESHOLD

▪ GHG Emissions

▪ Business Ethics and Anti-Corruption

▪ Human Rights

▪ Water and Effluents Management

▪ Spills

▪ Environment, Health and Safety

▪ Employer- and Employment Practises

▪ Local Communities

▪ Biodiversity

▪ Safe and Compliant Infrastructure and Procedures

▪ Land and Resource Rights

▪ Indigenous People

▪ Closure and Rehabilitation

Many new disclosures have been deemed material for reporting this year (compared to the ones identified using the GRI 2016 approach to materiality) and Uno-X Mobility is prepared to set up processes and routines for disclosures within the topics where data is currently missing or unavailable. This year’s assessment has created a foundation, which we will dynamically build upon every year on year. Before each reporting period in the years to come, we will review the material topics, in order to assess if the content and ordering is still representative of Uno-X Mobility’s most significant impacts. Then it will be decided if changes should be made to the prioritisation, if the threshold should be moved, and/or if new topics should be added.

CHANGES FROM PREVIOUS PERIOD

As the GRI 2021 Standard now include Sector Standards, the list of material topics has changed from the previous reporting

year, initiating a need for a new materiality assessment in which was conducted in the winter of 2022-23, thus altering both the overall list of material topics as well as the prioritisation list and threshold.

DUE DILIGENCE

When negative impacts are identified, Uno-X Mobility follows the guidelines from Organisation for Economic Co-operation and Development (OECD), regarding due diligence and supporting measures. In cases where actual or potential negative impacts are identified, measures are taken promptly, in order to cease, prevent or mitigate them. The General Manager of each subsidiary holds the responsibility of upholding the standards and principles of Uno-X Mobility and the effectiveness of the process of Uno-X’s due diligence work is assessed annually by the board.

SDG SUB TARGET

6.3 By 2030, improve water quality by reducing pollution, eliminating dumping, and minimizing release of hazardous chemicals and materials, halving the proportion of untreated wastewater, and substantially increasing recycling and safe reuse globally

6.5 By 2030, implement integrated water resources management at all levels, including through transboundary cooperation as appropriate

MATERIAL TOPIC

Employer and Employment Practises, Water and Effluents Management

Water and Effluents Management

8.3 Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity, and innovation, and encourage the formalization and growth of micro-, small- and mediumsized enterprises, including through access to financial services

8.5 By 2030, achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value

8.8 Protect labour rights and promote safe and secure working environments for all workers, including migrant workers, in particular women migrants, and those in precarious employment

Employer and Employment Practises

Employer and Employment Practises

Human Rights

10.2 By 2030, empower and promote the social, economic and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin, religion or economic or other status

10.3 Ensure equal opportunity and reduce inequalities of outcome, including by eliminating discriminatory laws, policies and practices and promoting appropriate legislation, policies and action in this regard

10.4 Adopt policies, especially fiscal, wage and social protection policies, and progressively achieve greater equality

Human Rights

Employer and Employment Practises

13.1. Strengthen resilience and adaptive capacity to climaterelated hazards and natural disasters in all countries

13.2 Integrate climate change measures into national policies, strategies and planning

Employer and Employment Practises

17.14 Enhance policy coherence for sustainable development

17.17 Encourage and promote effective public, public-private and civil society partnerships, building on the experience and resourcing strategies of partnerships

GHG Emissions

GHG Emissions

Business Ethics and Anti-Corruption

Business Ethics and Anti-Corruption

Environment

At Uno-X Mobility we are committed to implementing measures that promote environmentally sustainable resource management, which naturally is an integral part of our business model and sustainability strategy – as we are on a mission to develop and promote solutions for sustainable mobility.

At Uno-X Mobility, we consider emissions and other environmental concerns to be significant factors that affect both our company and our stakeholders. This is due to the environmental advantages and disadvantages of our products, as well as the need to manage the risk of emissions impact on the environment. While our value chain (scope 3) - particularly the use of our sold fuels - is the primary source of our negative environmental impact, our own operations have considerably lower emissions. Therefore, we will concentrate our efforts on addressing emissions within our value chain.

At the forefront of our agenda are innovations and activities aimed at enhancing our processes through the reduction of emissions and avoidance of spills, as well as the improvement of water and energy efficiency. Hence our focus for 2022 e.g., has been to increase the number of ecolabelled car washes and EV charging stations.

The focus area, Environment, has been divided in three material topics: GHG Emissions, Spills, and Water and Effluents Management.

UNO-X MOBILITY NORDIC SWAN ECOABELLED CAR WASH

As a result of our ambitions, we saw a noteworthy rise in the number of Uno-X ecolabelled car washes in 2022, which aligns with our objective of providing a more environmentally friendly alternative to conventional car washes. Both the car wash installation and the detergents are Nordic

Swan ecolabelled based on the Nordic Swan ecolabels comprehensive and detailed criteria.

E.g., the wastewater is about 90 % better treated for hazardous contaminants and the water consumption is reduced by about 80 %. The customer experience is easy and efficient. When a customer relationship is registered in the mobile app, the customer can drive to the gate, the registration number is automatically recognised, and the gate opens. From there, three simple steps are occurring: The customer drives in, the car is washed with eco-labelled products, once complete the gate opens and the customer can drive off. The whole experience is executed without any need for customer interaction in the app. Our car wash facilities are rolled-out at targeted Uno-X locations in Norway and Denmark, as well as co-located with REMA 1000 in both countries. During the year we have opened 34 new washes, and by year end we operate 52 ecolabelled car wash facilities in Norway and Denmark.

It is inspiring to follow a major player such as Uno-X Mobility setting the direction and pace for a green transition. The commitment to more environmentally friendly car washing is an example of compliance.

A Nordic Swan ecolabelled car wash uses significantly less water and captures hazardous emissions, and cleans the water so well that it can be used wash after wash. It is a circular economy in practice and provides an enormous environmental achievement.

Cathrine Pia Lund, CEO Nordic Swan Ecolabel

Official opening

Uno-X Gulskogen, Norway

Minister of Transport Jon-Ivar Nygård opened the first Uno-X ultrafast EV charging location in Norway together with with Ole Robert Reitan. Uno-X Gulskogen is located in Drammen, a major city south of Oslo.

Photo: Wordup Projects

Uno-X Nyborg, Denmark

Minister of Transport Trine Bramsen opened the first Uno-X ultrafast EV charging location in Denmark together with with Ole Robert Reitan. Uno-X Nyborg is located on the eastern side of the island Funen.

Official opening

UNO-X ULTRAFAST EV CHARGING

To reduce emissions from the transport sector the EU and Norway have set targets to reduce the number of ICE vehicles sold by 2035 and 2025 respectively, with the objective of prohibiting the sale, thus clearly signalling a gradually decline of the market for fuels.

In response, Uno-X Mobility follow up with ambitious plans for increasing the number of EV charging locations available in Norway and Denmark, by offering EV charging at locations operated by Reitan Retail in both countries. Often co-located with REMA 1000 or 7-Eleven. The state-of-the-art solutions for the best possible customer experience, including clear and simple price information, 300 kW output together with tap and drive payment solution have quickly been adopted by the customers. By year end 2022 we had opened 7 locations. In mid long term our ambition is to offer EV charging for 1000 EV´s simultaneously.

EV charging for trucks is a market in its early phases and in March 2023

Uno-X Mobility opened Denmark’s first EV charger for trucks in Nyborg. Going forward, Uno-X Mobility is devoted to providing the energy demanded by the market while embracing all solutions that reduce emissions and protect the environment, including future technologies. We have an ambition of becoming independent of fossil fuels as quickly as time and market will allow for.

UNO-X PRO CYCLING TEAM

Uno-X Mobility is proud of owning and operating both a men’s and women’s Pro Cycling Team competing at the highest international level, thus hoping to increase awareness and contribute to boosting cycling in the society, not just at a competition level. A primary driver behind our significant investment in the team

is to increase the visibility and popularity of cycling. As our cycling ambassadors, the team riders play a crucial role in generating greater interest and excitement for this sport.

The use of cycling for various purposes is gaining significant international attention, especially considering the world’s climate challenges. Increasing cycling levels can play a crucial role in reducing CO2 emissions and promoting both more sustainable mobility and better personal health in society. At Uno-X Mobility, we recognise this, and that is why we own and operate the Uno-X Pro Cycling Team, with the primary aim of promoting cycling as a key measure for sustainable mobility.

In 2022 our women´s team took part in the world´s first Tour the France for women. In 2023 our men´s team will have the privilege to promote our sustainable mobility ambitions at the Tour de France as the first, in history, Norwegian-Danish men’s team to competing in this iconic cycling race.

“With our ultrafast EV charging solution we have achieved the goal of offering our customers a simple and efficient charging experience.

The kWh price is clearly visible both on the charger and price pylon, and payment is easily done by tapping a regular payment card in exactly the same way as for fuels.

Ole Johannes Tønnessen, CEO Uno-X eMobility

Photo: Wordup Projects

“ Tour de France is the ultimate dream, and just being a part of this is a victory for the team.

Jens Haugland, Head of Uno-X operations in Norway and General Manager of Uno-X Pro Cycling Team

Photo: Wordup Projects

EU TAXONOMY

On January 1, 2023, the Sustainable Finance Act was implemented in Norway, which requires entities of public interest to report on sustainability in 2024. The EU taxonomy Regulation is included in this Act; however, Reitan Retail, as a Norwegian non-public interest entity, is not subject to the EU taxonomy. Consequently, submission of data for 2022 is voluntary for Reitan Retail and Uno-X Mobility.

In 2020, the EU launched the European Green Deal, which is an action plan aimed at achieving carbon neutrality by 2050. The EU taxonomy is an essential component of this plan, providing a classification system for environmentally

sustainable economic activities, known as eligible activities. The taxonomy’s objective is to offer appropriate definitions of sustainable economic activities to companies, investors, and policymakers. This will provide investors with greater certainty, protect private investors from greenwashing, help companies become more climate-friendly, mitigate market fragmentation, and direct investments towards areas that require them the most.

As of 2022, only the first and second objectives of the EU taxonomy have been published, covering nine sectors and associated activities that are considered to have significant climate impact. However, the taxonomy is still under development, and it

is expected that several more sectors and economic activities will be added soon, along with criteria for the remaining four objectives.

In 2022, we carried out a screening in our business area to identify potentially sustainable economic activities that are eligible according to the current EU taxonomy activities. Based on the screening, Uno-X Mobility found one activity that is eligible in accordance with the taxonomy in our business, where our new EV-Charging is considered an eligible under activity 4.9 for the transmission and distribution of electricity.

More information on the EU Taxonomy can be found in Reitan Retails Annual and Sustainability Report 2022.

Uno-X Pro Cycling

Women’s team

The team participated in the worlds first Tour de France Femmes, a major step for more gender equality in international pro cycling.

Photo: Wordup Projects

Uno-X Mobility Annual and Sustainability Report 2022

Uno-X Pro Cycling

Men’s team

Uno-X Pro Cycling men’s team invited to Tour de France 2023, an important recognition of the team’s achievements.

Photo: Wordup Projects

GHG Emissions

At Uno-X Mobility we are committed to be transparent with our carbon emissions and report emissions in our own operations and value chain based on the Green House Gas Protocol. Data for carbon accounting are collected from our slightly over 800 unmanned fuel locations, 52 Nordic Swan ecolabelled car washes and 34 conventional car washes, 7 E-mobility locations, 4 tank park facilities for fuel storage in Norway, as well as our own internal office operations.

The carbon accounting calculation is based on the following methodology. The emissions considered for scope 1, 2, and 3 are CO2, CH4, N20, SF6, HFC, PFC, and NF3, expressed in ton CO2 equivalents (tCO2e). The global warming potential (GWP) used to calculate

CO2e is based on the Fourth Assessment Report (AR4) by the Intergovernmental Panel on Climate Change (IPCC) for a 100-year period. For both Scope 1 and 2, the emission consolidation method is through operational control. All calculations for scope 1, 2, and 3 are consistent with the GHG Protocol, using recognised emission factor sources. All Scope 1 and 2 data is calculated using consumption data, as well as the majority of Scope 3; Category 7 Employee Commuting has been estimated based on national statistics and employee data. We have in 2022 expanded our Scope 3 screening, now including more categories, such as employee commuting and upstream transportation and distribution, and expanded on others such as waste. This year’s reporting has also seen the inclusion of activities in our new EV charging business.

Uno-X Mobility tracks all operational and value chain emissions according to the GHG Protocol and has been using a carbon accounting software tool to record emissions since 2019. Presented are the aggregated results from our fully owned subsidiaries from 2020-2022, reported on an operational control approach. In accordance with Reitan Retail, Uno-X Moblity has chosen 2020 as the base year for carbon accounting in Scope 1 and 2, and 2022 as base year for Scope 3, and will use this for emissions reference and target settings in the future. Please note, Uno-X Koncepdesign A/S, a company acquired in November 2022, is not included in this year’s carbon accounting and will be included in 2023.

1 & 2 Emissions Breakdown (location based)

Uno-X Mobility GHG emissions data is verified by DNV, as part of Reitan Retail GHG emissions data. For more information see Reitan Retail Annual and Sustainability Report published at www.reitanretail.no.

Uno-X Mobility GHG emissions data is verified by DNV, as part of Reitan Retail GHG emissions data. For more information see Reitan Retail Annual and Sustainability Report published at www.reitanretail.no.

Photo: Wordup Projects

Scope 1 includes all our direct company emissions. Specifically, emissions from cars owned by the company and those that have been leased, including our Pro Cycling Team. To ensure control over the emission sources, our policy dictates that only liquid fuels from our own mobility locations are to be purchased by the users of these cars, except when travelling outside Norway and Denmark.

Our Scope 1 emissions in 2021 and 2022 accounted for 351.7 tCO2e and 440.2 tCO2e, respectively. Thus, equivalent to a 25 % increase from 2021. The increase is seen because of post pandemic behaviour where company cars are more frequently used. Another contributor to the increasing Scope 1 emissions is the Uno-X Pro Cycling Team having more activity in 2022. Emissions in Scope 1 are calculated on a consumption basis and multiplied with globally recognised emission factors from the known Department for Environment, Food and Rural Affairs (DEFRA).

Scope 2 is presented using both a locationbased and market-based method. The location-based method has seen an increase of 10 % in CO2 emissions, and a 25 %

Photo: Wordup Projects

increase using the market-based method. District heating emissions have decreased by 62 % because of an office merger where all Norway subsidiaries are now gathered under one roof along with Reitan Retail, resulting in a direct energy consumption decline of 65.2 %. Electricity emissions have seen an increase of 10 % in 2022, with an increased energy consumption of 21.6 % as a direct result of new Nordic Swan ecolabelled car wash facilities being established in 2022. The Swan ecolabelled car wash facilities increased from 18 to 52 facilities during the year, thus increasing electricity demands at certain locations. Emissions in Scope 2 are calculated on a consumption basis and multiplied with globally recognised emission factors from the International Energy Agency (IEA) and Association of Issuing Bodies (AIB).

Uno-X Mobility GHG emissions data is verified by DNV, as part of Reitan Retail GHG emissions data. For more information see Reitan Retail Annual and Sustainability Report published at www.reitanretail.no.

Our Scope 3 emissions includes indirect emissions related to goods and services in the value chain. Categories included in this year’s reporting is waste, business travels, lifecycle of our fuels, water consumption, EV charging activities and fuel- and energy related activities for electricity and district heating consumption related to Scope 2. EV charging is included for the first time in 2022 as a result of our new business area in Norway and Denmark. Our Scope 3 emissions for 2022 stand at 5 130 520.3 tCO2e, a 0.9 % increase from 2021. Scope 3 emissions have been calculated using globally recognised DEFRA, IEA and Ecoinvent factors.

Uno-X Mobility GHG emissions data is verified by DNV, as part of Reitan Retail GHG emissions data. For more information see Reitan Retail Annual and Sustainability Report published at www.reitanretail.no.

*The calculations for liquid products are based on volume and not energy.

** Fuel volumes included in carbon accounting are volumes sold to end user either from our unmanned stations in Norway and Denmark, or by direct deliveries to our bulk customers in Denmark.

WASTE

Waste has seen a drastic increase from 2021, as more subsidiaries have now included this category in their reporting, reporting 1 219.9 tCO2e compared to 113.0 tCO2e in 2021. In this year’s reporting, wastewater treatment from our car wash facilities have been included in this category, as well as removal of contaminated grounds, thus supporting the increased emission in this category. In our Uno-X Mobility subsidiaries, regular waste, such as various types of packaging, is not deemed a significant impact. Since all stations are unmanned, only a minor quantity of waste is collected in bins, such as waste from cars and used paper for cleaning fuel spills. The frequency of emptying these bins is typically only once a week or once every two weeks due to the small amount of waste. As the quantity of waste is limited, it is not recorded in our carbon accounting.

BUSINESS TRAVEL

All subsidiaries have seen a significant rise in business travel activities in 2022, much because of post pandemic behaviour, accounting at 4 343.9 tCO2e compared to 685.3 tCO2e in 2021. The use of company cars has increased, thus resulting in the increased emissions. With the majority of the emissions linked to our Pro Cycling Team, who had an increase in activities and competition participation from 2021 to 2022.

WATER CONSUMPTION

In 2021 we launched our new business area Uno-X Nordic Swan ecolabelled car wash; the expansion of this business continues the steady increase of water consumption in 2022 with 9.1 tCO2e. In 2021 we operated 18 Nordic Swan ecolabelled car wash facilities, this number has increased to 52 in 2022, and more will be added in the years to come. As a result, our water consumption is expected to rise in the future. Nonetheless, our goal is to assist in reducing society’s water consumption for car washing. This is because a Nordic Swan

ecolabelled car wash uses approximately 80 % less water compared to a conventional car wash. Please note that our emission for this category has changed in 2021 due to a calculation error. This has been altered and the standing number is now correct.

FUELS

Our product emissions are categorised into two types: Well to Tank (WTT) emissions, which represent the refining and distribution of our products, and Tank to Wheel (TTW) emissions, which reflect the use of our products by our customers. The complete cycle of these two categories represents the Well to Wheel (WTW) calculation. Emission factors for fossil fuels are based on DEFRA’s recommendations, while the emissions from biofuels are based on the Proof of Sustainability Certificates provided by our suppliers. Our WTT emissions from fossil fuels are at 971 890.7 tCO2e and 78 044.0tCO2e for biofuels. The majority of our total Scope 3 emissions stem from liquid fuels during its use stage (TTW emissions), accounting for 4 068 920.3 tCO2e and

constituting for 79.45 % of our Scope 3. Please see the topic “Spills” on page 47 for more information on our fuels.

LUBRICANTS

In our Scope 3 accounting for 2022, lubricants have not been considered due to an increased focus on meeting the GRI 2021 Standards. However, starting from the 2023 reporting, lubricants will be considered included in our Scope 3 accounting.

Through our business within lubrication oils, we are a leading supplier to business customers. We offer Texaco lubricating oils produced at the factory Scanlube AB (50 % owned) and food-grade Anderol lubricating oils. In addition, we offer Panolin, a brand that provides energy-efficient and rapidly degradable lubricating oils suitable for use in environmentally sensitive areas. Panolin’s popularity is growing in the offshore, marine, and contracting industries, and major players in these fields are increasingly choosing to use it.

Concerning packaging Scanlube has finalised all open questions related to the use of 30 percent recycled plastic in selected packages and will introduce this during 2023. Scanlube is also in the process of introducing carbon accounting. Parameters such as electricity consumption, district heating, and waste are today fully monitored.

EV CHARGING

During 2022 we opened our first 7 EV chargers in Norway and Denmark, and these are included in our carbon accounting. The reporting is separated in use of sold product and upstream processing of the electricity. Fuel and Energy related activities account for 122.2 tCO2e in 2022 using location-based method and are the upstream emissions from our own and sold electricity activities from our EV chargers. The emissions in this category account for both upstream production of electricity and district heating as well as transmission and

distribution losses (T&D losses). The use of the electricity sold from our EV chargers account for 4.2 tCO2e and is expected to increase in the coming years in line with our ambitious investments plans in more charging stations. Using a market-based method, we have green certificates for all electricity operations on own and distributed electricity, thus have an emission of 0 tCO2e. In 2023 we aim to do an avoided emissions project to calculate the potential emissions avoided from the transition to more EV chargers compared to fossil fuel usage in cars, contributing to the Reitan Retail journey of becoming carbon neutral by 2050.

UPSTREAM TRANSPORTATION AND DISTRIBUTION

The category of Upstream Transportation and Distribution have been incorporated for the first time in 2022, including AdBlue usage in trucks. This category accounts for 5 801.0 tCO2e. AdBlue is a fluid that is administered into the exhaust system of diesel-powered engines to minimise the discharge of CO and NOx. Through the utilisation of AdBlue and catalyst technology, detrimental emissions undergo a transformation, resulting in the creation of water vapor, nitrogen, and CO2.

EMPLOYEE COMMUTING

This year’s carbon accounting has also seen the inclusion of employee commuting at 165 tCO2e. This category has been estimated based on national statistics number of employees in each of the countries.

Additional Emissions Calculations

Nitrogen Oxide (NOx) and Surplus Oxide (SOx) have been calculated in addition to GHG emission gasses in our relevant Scope 1 activities.

In Scope 3 our most significant air emissions have been calculated for NOx and SOx, as well as for Non-Metane Volatile Organic Compounds (NMVOC) and Particular Matter (PM) which stems from the use of our sold products. Calculations of air emissions are done based on conversion factors from Statistisk Sentralbyrå (SSB) and Drivkraft Norge. The emissions are calculated on the assumption that all fuel sold from fuel stations is used by passenger cars and all fuel sold at truck stations is used for heavy transport.

Significant Air Emissions in KG - Use of Sold Products

Spills

We operate unmanned fuel stations and tank park facilities in Norway and Denmark where we strictly adhere to governmental regulations and procedures for spill management and hazardous waste treatment. Uno-X Forsyning AS manages the complete sourcing and storage operations in Norway, which includes operating tank facilities along the Norwegian coast. In Denmark, YX Danmark A/S bears the responsibility for these procedures operated by Samtank A/S (50 % owned), while the associated company Skanol (50 % owned) is responsible for the distribution of fuels in both countries.

Our focus is on spill prevention, but in the event of a spill, we have clear on-site procedures to manage it. We have conducted a risk analysis of our outlets and our tank park facilities to identify and mitigate potential spills.

E.g., the risk analysis of our tank park facilities includes a number of scenarios related to spills on land and sea of petrol, diesel, and biofuel which are stored at the tank parks, including spills scenarios such as smaller and larger leakage with dock offloading of fuel, leakage or breakage of pipes or tanks, and spills at truck loading sites.

present to respond to spills by deploying bilges to contain spilled diesel fuel in the water. Trained personnel are always on-site to oversee the offloading and filling of fuel, and they are capable of stopping the pipes in case of an emergency, overfilling or leakage.

Uno-X Mobility’s overall ambition is to do no harm to people or environment.

Multiple collection tanks have been installed in the ground at the sites to gather any liquid spills that may occur. At locations without such collection tanks, such as a sea docking station, on-site personnel are

Uno-X Mobility’s subsidiaries occasionally handle hazardous waste at stations, and this is done in accordance with comprehensive laws and regulations regarding this area. In addition, each subsidiary has a strong Environment, health and safety (EHS) framework with procedures and policies, e.g., programs for tank cleaning, tank replacement and intervals for emptying oil separators at stations, and preparedness on how to act if there are spills/leakage. Notification plans at fuel station facilities is in place.

Fuels

As mentioned earlier in this report, we categorise the emissions from our products into two categories: “Well to Tank” (WTT), which refers to the emissions generated during the refining and distribution of our products, and “Tank to Wheel” (TTW), which reflects the emissions produced by our customers when using our products. The sum of these two categories is known as the “Well to Wheel” (WTW) calculation. Our emission factors for fossil fuels are sourced from DEFRA, while the emission data for biofuels is based on the Proof of Sustainability Certificates provided by our suppliers.

Denmark and Norway’s national statistics measure emissions by taking into account the use of sold products, or “Tank to Wheel” calculation. Biofuels are considered to have zero emissions in these calculations in accordance with the GHG Protocol, and our national emissions are based on this premise. However, we also conduct a life cycle analysis that encompasses the entire lifecycle of our products, including their refining, distribution, and usage, both for biofuels and fossil fuels. The ILUC (Indirect Land Use Change) emission factors we use are based on standardised factors outlined in the EU directive. We acknowledge that as the demand for biofuels increases more efforts need to be made to account for their climate impact. As part of

the country´s commitment to meeting CO2 displacement requirements, Denmark is considering developing national ILUC factors, while the EU system is also under evaluation. We support and encourage further research and regulations in this area to ensure that biofuels are sourced from the most sustainable feedstocks and raw materials, which can be facilitated by the ILUC methodology.

As presented in the Fuel Breakdown table, our emissions per litre inclusive LCA and ILUC have seen a decline from 2021. We believe this is as an important parameter to monitor going forward, as it shows the development in emissions from a worldwide perspective.

Uno-X Mobility GHG emissions data is verified by DNV, as part of Reitan Retail GHG emissions data. For more information see Reitan Retail Annual and Reponsibility Report published at www.reitanretail.no.

Photo: Wordup Projects

BIOFUELS

Fuels currently meet society’s energy needs for road transport, but fossil fuels still make up a significant portion of it. The refining, distribution, and usage of fossil fuels have a high environmental footprint, and we at Uno-X Mobility are committed to minimising our impact on the value chain.

Our goal at Uno-X Mobility is to achieve independence from fossil fuels as soon as possible, and we recognise that blending biofuels can play an important role in reducing emissions from the transport sector. However, we acknowledge the complexity of the use of biofuels, including advanced biofuels and those based on feedstocks with the highest climate benefits. Therefore, we approach this area with humility and openness, conducting thorough assessments of the raw materials to be used. We have also implemented a no-tolerance policy regarding the use of palm and soy oil in biofuels, as we believe this is an obvious choice.

Denmark and Norway have implemented mandates or CO2 displacement requirements that regulate the biofuels required by the

Uno-X Mobility GHG emissions data is verified by DNV, as part of Reitan Retail GHG emissions data. For more information see Reitan Retail Annual and Sustainability Report published at www.reitanretail.no.

fuel industry to blend into liquid fuels in order to achieve their national emission targets for road transportation. However, these regulations also impose an implicit limit on the amount of biofuel that companies can blend without sacrificing competitiveness in the market. This is due to the fact that biofuels are more costly than fossil fuels.

Up until 2021, both Denmark and Norway only required biofuels to be used in road traffic, excluding off-road applications like construction and agriculture. The bio mandate in Denmark was based on energy content, while in Norway it is based on volume. Until 2021 both countries count advanced biofuels as double toward fulfilling the mandate. However, Denmark distinguished between secondgeneration biofuels and advanced biofuels, with the latter limited to waste- and residue-based feedstocks categorised as inedible. Therefore,

animal fats and used cooking oil was not considered advanced in Denmark, resulting in a relatively low mandate for advanced biofuels.

Denmark, as per the European Union’s Fuels Quality Directive, must reduce Well to Wheel emissions by 6 % in 2022, measured against 2010 levels, for both on-road and off-road fuels. The directive allows the use of credits from Upstream Emission Reductions (UERs). YX and Uno-X in Denmark fulfil the national reduction mandate of 3.4 % greenhouse gas savings compared to 2010. The biovolume blended corresponds to a minimum of 3.4 %, inclusive of both on-road and off-road fuels. The remainder of the requirement is met through the purchase of UER credits to achieve the 6 % Well to Wheel emission reduction target.

In Norway, the biofuel blend in 2022 was 12.3 % by volume (24.5 % when the doublecounting effect is included), with more than 90 % of the volume being advanced

biofuels made from waste and residues. The Norwegian government aims to increase the share of advanced biofuels in both petrol and diesel sales continuously, while ensuring that biofuel purchases are palm oil and soy oil free to minimize the negative global climate effect from deforestation.

Looking ahead, Denmark aims to achieve a 5.2 % CO2 displacement requirement in 2025, including indirect land use change (ILUC factor). The new regulations aim to ensure that sustainable liquid fuels (renewable energy) will be increasingly used in the road and off-road transport that is not electrified. Meanwhile, the Norwegian government will continue to increase the mandate in road transport and secure a larger proportion of advanced biofuels while implementing a mandate in off-road fuels from 2023. The mandate will continue to be based on a volume blend requirement rather than a CO2 reduction requirement like in Denmark.

Feedstock

BIOFUEL FEEDSTOCKS AND ORIGIN

These illustrations show our purchased feedstocks and their origin.

Denmark 2022

79,4 % Europe

8,3 % Australia

4,1 % South America

1.0 % Africa

5,2 % Russian Federation*

21.0 % Advanced

6,2 % Used cooking oil

35,7 % Rapeseed

8,7 % Biomass fraction of industrial waste

6.0 % Animal fats classified as categories 1 and 2

*The

2.0 % Asia

24,4 % Corn (maize)

13,2 % Sugar beet

2,6 % Wheat

3,1 % Sugar cane

Russian raw materials were purchased by our suppliers before the invasion of Ukraine. In 2022, we had no contractual options to reject Russian raw materials. In the contracts for 2023, it is ensured that we will not receive Russian raw materials.

Water and Effluents Management

In addition to managing water and effluents regarding petroleum-based substances (covered under the material topic ‘’Spills’’), this topic is highly relevant for Uno-X Mobility, due to our car wash products and services. Traditional car wash practices entail having to use potent chemicals to remove oil and dirt from cars and constitute highly likely, and potentially severe, negative impacts on the environment. These conventional car wash products can also have negative impacts on employees, other workers, and customers, due to their contents.

Being aware of these potential negative impacts, Uno-X Mobility has since 2021 offered ecolabelled car washes, through Nordic Swan Ecolabel, by year-end at 52 locations. In Norway, the company has offered only ecolabelled carwash locations from the start of this initiative in 2021. The Nordic Swan Ecolabel is the official environmental label of Norway and Denmark and enforces strict requirements for approval. The ambition to only offer Nordic

Swan Ecolabel car wash has been a conscious choice to mitigate the negative impacts associated with conventional products. As per the requirements of Nordic Swan ecolabelled car wash, contaminated water from washing is 90 % more thoroughly rinsed and requires approximately 80 % less water consumption compared to a conventional car wash. Our conventional car wash locations in Denmark are covered by national regulatory frameworks, ensuring the mitigation of negative impacts on the environment and people. All conventional car wash locations in Denmark are required to obtain clearance from local authorities to operate, and standards for discharge quality are controlled annually. Recording of water and effluents usage and discharge per wash is done on a daily basis, in order to ensure compliance. Though the timeframe is not set yet, Uno-X Mobility’s long-term goal is to only operate ecolabelled car wash locations.

As of 2022, Uno-X Mobility owns and operates 52 ecolabelled car wash facilities at selected locations in Norway and Denmark, and car wash has become a central part of Uno-X Mobility’s offering. The management approach on the

Photo: Wordup Projects

topics is firstly that we as of this year have included water consumption and discharge in our carbon accounting. By doing this, we can track our developments and mitigate our water and effluents related impacts. Uno-X Mobility plan for a rapid increase in the number of locations offering Nordic Swan ecolabelled car wash, which we expect will increase our own water consumption. However, due to the less negative attributes of ecolabelled car wash, this will have a positive effect in a broader context.

As the table below shows, many water-related impacts, such as those due to extensive consumption, are less severe in Uno-X Mobility’s operating countries, compared to the world average:

Tables show water consumption and water discharge by category

Source: WWF Water Risk Index

Our guideline

High standards carved in stone

The REITAN philosophy is characterised by a set of strong values and attitudes. Our subsidiaries are operating and developing their business accordingly. One of our values is to keep high moral standards, which reflects that we always strive to run our business according to a high ethical conduct.

Ethical Value Chain

It is important to minimise our social and environmental negative impact through cooperation with our suppliers and work closely with our suppliers through the entire value chain. Key indicators such as health, safety, human rights, integrity, and security risks are inherent in our supply chain activities. However, we are aware of human rights issues being central within the oil and gas industry and therefore have close communication with our main suppliers. As a result, we trade goods mainly from large oil and gas suppliers located in Scandinavia in which have strict human right policies and close monitoring of their supply chains. Biofuel on the other hand is prone to risk related to land use change, at Uno-X Mobility

we take a strong stance towards no soy or palm oil in our purchased products, and acquire sustainability certificates from certified institutes on all purchases. Biofuel purchases are verified by a third party in accordance with official requirements in Norway and Denmark in order to mitigate this potential risk. Thus, the value chains for biofuels are followed up in detail. Further, we have an internal Code of Conduct and an external Supplier Code of Conduct in order to address both physical and social risk in own operations and supply chains, thus screening and monitoring our supply chain for potential risks in accordance with The Norwegian Transparency Act.

Business Ethics and Anti-Corruption Code of Conduct

Uno-X Mobility´s Code of Conduct serve as the foundation for the day-to-day operations of Uno-X Mobility and our subsidiaries. This Code is based on the REITAN philosophy, and the ethical standard of each subsidiary outlines our commitments and expectations for conducting business at Uno-X Mobility in an even more detailed manner. The Code was set in effect from the second quarter of 2022 after being reviewed by the board and is a further development of earlier versions. It applies to the board, employees, and hired personnel, and requires the company to act in a sustainable, social, and ethical manner, in compliance with applicable laws. It is the responsibility of the Board and each subsidiary’s General Manager to train their employees on how to implement the REITAN philosophy and the Code of Conduct in their daily work. Additionally, we expect our suppliers to adhere to our Code of Conduct.

Our Code of Conduct explicitly prohibits all forms of bribery and corruption at Uno-X Mobility. We recognise that corruption and bribery can undermine legitimate business practices, distort competition, and prevent the realisation of human rights. To maintain our professionalism and ethical standards, we are committed to complying with all applicable anti-corruption laws and avoiding any actions that could call into question our integrity. The risk of corruption has been assessed to be low based on our supplier portfolio, however, we continuously monitor this area to ensure that we remain vigilant and proactive in identifying and addressing any potential risks. At Uno-X Mobility, we take a zero-tolerance approach to bribery and corruption, and we are committed to conducting our business with the utmost transparency and integrity.

Supplier Code of Conduct

Uno-X Mobility sources products from multiple suppliers across various countries. As our subsidiaries’ purchases of goods and services can impact society in various ways, we prioritise minimising any negative social and

environmental impact through cooperation with our suppliers. Our primary value chains include fossil fuels, biofuels, and transportation, and we believe that working collaboratively with our suppliers can promote responsible trading practices in our related markets. Our culture is founded on a robust set of values and principles, such as maintaining high business ethics. We assess all our suppliers to determine whether they align with the REITAN mindset as outlined in our philosophy of conduct. Our Supplier Code of Conduct (SCoC) provides even more detailed and structured guidelines and has adopted a risk-based approach In line with the Norwegian Transparency Act.

Our goal at Uno-X Mobility is to strengthen our relationships with suppliers and improve together. The safety and well-being of our ownand third-party employees, and stakeholders are paramount, and we take responsibility for managing risks that could cause harm to people and the environment. Our SCoC outlines our expectations for anti-corruption, human rights, and environmental practices, which all suppliers must follow. The SCoC is available on Uno-X Mobility’s website.

While there is no legislation requiring open traceability in the fossil fuel supply chain, we understand the risks associated with the crude oil industry and work with our suppliers to ensure that they are taking measures to protect people and the environment. Further, we view biofuels as a key component in reducing our dependency on fossil fuels and lowering CO2 emissions in the transportation sector. We purchase biofuels from both large and small suppliers, and all purchases are regulated by government requirements for traceability and verified by third-party sustainability certificates. We avoid purchasing biofuels based on feedstocks that contribute to deforestation or conflict with the rights of indigenous peoples, such as palm oil and soy oil.

Tax

Uno-X Mobility has operations in Norway and Denmark and pays tax in accordance with the two countrie’s taxation regimes. The tax rate is the same in both countries, standing at 22 %. We have no tax strategy beyond following laws and regulations in the two countries in which we operate and do not have any activities related to public policy advocacy on tax. Our internal financial department secures regulatory compliance.

In order to raise concerns regarding the company’s integrity in relation to tax, Uno-X Mobility has a whistle-blower channel, administrated by a third party, available on the company web site. All stakeholders may notify regarding all forms of conditions through this channel.

More on assurance processes on taxation to the government can be found in our financial report.

Transparency

Uno-X Mobility values transparency in all our operations, and we strive to uphold the highest standards of competition law compliance. In Norway, we are governed by the Competition Act, which aligns with the EU and EEA Competition regulations that Denmark falls under. The primary objective of the Competition Act is to promote competition, which contributes to the efficient use of societal resources and benefits consumers.

The Act prohibits any cooperation that restricts competition and the abuse of a dominant market position. Companies are solely responsible for complying with the rules set out in the Competition Act, which is a prohibition law. The Authority cannot grant exceptions or dispensations from the Act, and Uno-X Mobility is legally obligated to comply with this legislation. We take our responsibility to comply with the Competition Act seriously and work to ensure that our operations align with the principles of fair competition and benefit our customers and society as a whole.

REPORTED CORRUPTION INCIDENTS 2022

Total number of confirmed incidents of corruption.

Total number of confirmed incidents in which employees were dismissed or disciplined for corruption.

Total number of confirmed incidents when contracts with business partners were terminated or not renewed due to violations related to corruption.

Public legal cases regarding corruption brought against the company or its employees during the reporting period.

Human Rights

Norwegian Transparency Act

In 2022

The Norwegian Transparency Act came into force and companies are obligated to publicly report on the Act by 30th of June 2023. The Transparency Act in Norway is a law that guarantees the public’s right to access documents held by public bodies, provided they are not exempt from public disclosure by law or regulation. Its aim is to promote transparency, information, and democratic participation by ensuring public insight into the administration’s activities. The Act also sets out guidelines for handling requests for access, deadlines for responses, and access to appeals. As a critical element of Norwegian democracy and the rule of law, the Transparency Act empowers citizens to hold public bodies accountable for their actions.

Uno-X Mobility has developed guidelines for all subsidiaries for supplier screenings and risk evaluation regarding human rights and workers’ rights, as part of implementing our SCoC and secure compliance with the Norwegian Transparency Act.

The Norwegian Transparency Act imposes a duty to provide information to the public if inquiries are made with referral to the Act. The table shows inquiries received and replied to in 2022.

DUTY TO PROVIDE INFORMATION

31/12/2022

The screening of suppliers is based on a set criterion in which all suppliers are categorised from A - D as following and thereafter a risk evaluation regarding breach of human rights or workers’ rights in the value chain is conducted per supplier in each category:

Category A: Suppliers/partners who are directly included in the company’s delivery (e.g. resold products).

Category B. Suppliers/partners who are essential for the company’s ability to deliver (e.g. IT systems).

Category C: Suppliers/partners who do not pose a major commercial risk, but a significant liability risk.

Category D: Suppliers/partners who pose neither commercial nor liability risk.

People and Culture

Our founder, Odd Reitan, developed the REITAN philosophy established on years of experience operating REMA 1000, building on trust-based leadership and a strong belief in the individual. This philosophy has helped businesses succeed over the long term and enables companies to protect the environment, social issues, people, and human rights. Since the acquisition of Hydro Texaco in 2006, Uno-X Mobility has been continuously developing its corporate culture based on the REITAN philosophy, which consists of eight values and eleven success criteria. Each business area in Reitan Retail is responsible for operating and developing according to this philosophy, and each manager is responsible for culture development. Subsidiaries offer tailormade cultural building initiatives, and new employees must familiarise themselves with the philosophy. Moreover, leaders in REITAN

companies are invited to participate in courses offered by the REITAN value academy to further develop value-based leadership skills.

Uno-X Mobility is committed to promoting positive attitudes towards people, maintaining healthy relationships, and providing equal opportunities to all. The organisation’s recruitment, training, and organisational development processes prioritise assessing competence, personality, and potential, regardless of gender, age, religion, sexual orientation, or ethnic origin. While corporate values prioritize equality, Uno-X Mobility recognises the need to take concrete steps to ensure that its practices align with its values. For example, the organisation aims for gender balance during the last phase of recruitment and considers diversity when promoting employees to new responsibilities. For more details, please refer to the Appendix section of the Annual and Sustainability Report.

OUR VALUES GUIDE US IN THE WAY WE WORK:

1. We stick to our business model

2. We keep high moral standards

3. We are committed to be debt-free

4. We encourage a winning culture

5. We are positive and proactive

6. We talk with each other, not about each other

7. The customer is our ultimate boss

8. We work for fun and profit

We operate our business based on the REITAN mindset

Environment, Health, and Safety (EHS)

At our company, we consider Environmental, Health, and Safety (EHS) standards to be an integral part of our business operations, given that the safety of our customers, employees, and communities is a top priority. Therefore, we have defined EHS as a material topic. We are committed to providing a safe workplace for our employees and have a zero-accident policy in place.

ISO 9001 and 14001. All internal employees are covered by the EHS framework of their respective companies, and our workforce is trained in emergency and preparedness.

Our common goal is to do no harm to people or the environment.

Due to the inherent risks associated with our industry, we follow comprehensive laws and regulations to maintain a secure EHS practice. Additionally, we have implemented several ISO certifications for our subsidiaries, even though they are not strictly required. For instance, Uno-X Forsyning maintains ISO 9001 certification annually, covering all employees, and YX Smøreolje N/DK has implemented

All subsidiaries have made a commitment to prioritise safety, implementing effective risk management strategies and systematic measures to prevent both physical and mental injuries and illnesses. It is imperative to provide a safe and healthy workplace in order to ensure sustainable business operations. Uno-X Mobility recognises the importance of promoting physical and mental health, and therefore strives to inspire employees and society at large to maintain an active lifestyle.

To meet the specific needs of the company, all subsidiaries have established practices, routines, and occupational health and safety management systems with a focus on EHS. These systems provide employees and third parties with EHS handbooks, easy-to-use deviation reporting mechanisms, and other important information related to safety, such as explosion hazards. All employees are required to adhere to EHS reporting routines and must report safety incidents and unsafe

conditions. Employees play a crucial role in the implementation, ongoing development, and evaluation of the occupational health and safety management systems. Uno-X Mobility and its subsidiaries provide regular reports on selected EHS key performance indicators to their Board of Directors.

Risk identification and evaluation

Uno-X Mobility conducts risk identification and evaluation across all subsidiaries, involving relevant personnel coordinated by the EHS responsible. Each of our subsidiaries has its own EHS responsible which controls EHS tasks in their dedicated area, where part of their task is to report a brief summary of EHS related indicators for each board meeting. This process is essential for anticipating potential hazards and staying ahead of potential dangers. While the majority of Uno-X Mobility’s employees work in office-based administrative roles, operations at the company’s tank facilities and fuel station locations pose risks to the health and safety of hired third parties and are included in the risk assessment process. In close collaboration with these third parties, Uno-X Mobility’s subsidiaries

establish standard risk assessments and routine descriptions to ensure that employees can remove themselves from dangerous situations that could cause injuries or illness. This is a crucial aspect of maintaining a safe work environment. As each subsidiary has a relatively small number of employees, communication travels quickly, thus making EHS related input from employees an integrated part of daily communication and routines.

Particularly important for tank park facilities that handle large volumes of fuel have strict procedures for handling these fuels – from boat offloading at the sea docs, to storage in tanks and further loading to tankers. These processes are closely monitored by trained personnel in order to prevent potential risks, in the event of

a breach, shut down of operations. All tank park facilities have undergone a risk assessment where relevant risks on the facilities were evaluated in accordance with health and safety of employees and environment to prevent these as a part the procedure of hazard mitigation. For more information about tank park facilities, see page “Spills” on page 47.

Further, in 2022, YX in Norway introduced a new digital EHS reporting system that includes the EHS handbook for truck partners, owners of YX stations, and YX 7-Eleven store managers. The system enables the maintenance of processes such as document management and hazard reporting, with a particular emphasis on risk evaluation at all YX 7-Eleven stations.

**Data missing on cyclist

Injuries and incident reporting

In 2022, there was reported three injuries resulting in harm to people and four incidents lead to harm to the environment.

Uno-X in Norway reported injuries – two people (subcontractor) were harmed during the construction of a car wash facility in Kjørbekk, Skien. One person (subcontractor) was harmed during explosion at a fuel location during control check of storage tank for petrol at Uno-X Mjøndalen.

Uno-X Denmark reported incidents - three incidents of fuel spillage of a maximum of 20 liters each due to an error on the sensors for overfilling emergency stop. Spillage is collected via oil separator and concrete substrate is cleaned by use of an absorbent.

YX Denmark reported incidents – spill of 100 litres fuel at YX Truck facility due to operational error, Skanol secured cleanup.

*Data missing on Uno-X Konceptdesign A/S acquired November 2022

Employer-, and employment practises

Health promotive work environment

At Uno-X Mobility, we maintain a value-based culture and strive to contribute positively to the health of our employees. We prioritise creating an inclusive and supportive work environment with meaningful tasks, where employees receive regular feedback and support from colleagues and managers. To ensure employee health and well-being, all subsidiaries offer voluntary medical examinations and continuously seek feedback regarding the working environment. In addition, Uno-X Mobility provides all employees with health and accident insurance that offers a high level of coverage.

The primary work-related illnesses that have been identified as potential health risks are neck and back ailments. Although this is not considered a high-consequence injury, we have taken several steps to mitigate this risk. We

have implemented several health-promoting initiatives, such as ergonomic chairs and electric adjustable desks. We also offer our employees individual supplies like glasses, as well as offering free flu shots. To further encourage physical and mental health, we cover employee gym expenses, recognising the importance of regular physical activity. Uno-X Mobility offers several social and physical activities to ensure a holistic and healthy work environment. Such as participating in weekly spinning and biking events. Several biking tours are arranged both on road racing bikes and mountain bikes and each year we encourage employees to participate in the 86 kilometres

long mountain bike race, Birkebeinerrittet, in Norway. Inspiring an active and healthy lifestyle is also one of the key motives behind our commitment to engage and promoting sports. Moreover, as mandated by Danish authorities, our companies in Denmark conduct a survey every three years on health, well-being, safety, and security in the workplace. We encourage our employees to communicate their level of satisfaction regarding the occupational health and management systems they are covered by, highlight any areas for improvement, and provide feedback on their overall mental and physical health.

Training

To ensure that all involved parties have the necessary competence, Uno-X Mobility’s subsidiaries provide relevant courses and training on health and safety, covering both employees and relevant hired third parties. For instance, market managers at Uno-X in Norway (third party) are required to complete an annual EHS course followed by an exam with a perfect score. Following any EHS training, employees and third parties are required to follow protocols, including the correct usage of safety tools and personal protective equipment like safety vests, gas masks, glasses, and safety shoes. EHS practice and routine information are always accessible through digital solutions. All employee and third-party training is conducted during working hours and is free of charge for participants. Feedback on the training is solicited through dialogue or surveys. As a result of the new EHS reporting system for YX in Norway, extra training has been completed for all employees (inc. third party) on how to correctly use the system, where we will continue with training and development in 2023. For workers at

tank park facilities Uno-X Forsyning regularly conducts crisis preparedness training in order to prepare for different risk scenarios.

Labour/Management Relations

As Uno-X Mobility operates in Norway and Denmark we are bound to follow public legislation when it comes to salary, parental leave and notice period agreements. Norwegian Collective Bargaining agreement gives the right for employees to negotiate salary once a year. Our Danish companies are not required to comply with or conclude collective bargaining, except for Uno-X Konceptdesign A/S. In order to ensure that we remain an attractive employer in Denmark and Norway, we regularly benchmark the employees’ compensation packages (salary, retirement, insurance, health care, etc.) against the market to ensure that they are up to par. Our assessments show that our compensation packages are competitive.

Internal integrity and trust

Uno-X Mobility is strongly committed to promoting internal integrity, and to ensure this, we have conducted anonymous third-party questionnaires in collaboration with Reitan

COLLECTIVE BARGAINING AGREEMENTS

Retail to evaluate our employees’ opinions. This approach allows for unbiased and transparent feedback on our company’s credibility, respect, fairness, pride, and community. The questionnaire results reveal that our company has achieved high scores on all indicators, surpassing the Norwegian National Integrity Index (National Trust Index) on all parameters.

Promoting a Healthy and Active Lifestyle

Encouraging active lifestyles is essential to us, as we firmly believe that it not only helps build a more sustainable society, but also helps alleviate the interconnected challenges of physical and mental health in the world. Hence, it’s crucial to inspire an active lifestyle, not just for our own employees but for society as a whole.

MOT partnership

At Uno-X Mobility, our goal is to inspire the younger generations to make informed decisions and prioritise their physical and mental well-being. To achieve this, we

have established a long-term partnership with the non-profit organisation, MOT (“Courage”). Their program promotes resilience, independence, and awareness among individuals, which fosters healthy relationships, creates safe environments, and cultivates sustainable communities.

Partner- and SponsorshipsInspiration from Role Models

Role models can be a powerful source of inspiration for promoting choices that benefit both physical and mental health. We at Uno-X Mobility understand this, and that’s why we have established partnerships and sponsorships with prominent athletes who embody our values. For instance,

our subsidiary Uno-X in Norway is a main partner with cross-country skier Johannes Høsflot Klæbo, with a focus on promoting development and performance while maintaining strong values and a mindset for good mental and physical health.

Similarly, our subsidiary YX in Norway has formed a long-term partnership with biathlete Johannes Thingnes Bø and renewed its collaboration with Norway’s Biathlon Association (NSSF) in 2021. As part of this partnership, there is a joint initiative with MOT, where biathletes promote “The biathlete with courage award.” This award recognises inspiring role models within their communities who contribute to positive team culture.

Team effort

Active lifestyle for our employees

Uno-X Mobility offers several social and physical activities to ensure a holistic and healthy work environment. Such as participating in weekly spinning and biking events. On average, our employees exercise more than half an hour per day, which is the Norwegian health authority’s recommendation.

Photo: Wordup Projects Uno-X Mobility Annual and Sustainability Report

People, culture and cycling

Our Pro Cycling Team is central in our fight for gender equality in sports cycling in terms of wages and television coverage. At Uno-X Mobility, promoting overall equality is a core value that we prioritise. To this end, we have established the Uno-X Pro Cycling team with both a women’s and a men’s team on equal footing. Our commitment to equality is reflected in the fact that the women’s team has achieved a significant milestone in receiving a UCI Women’s WorldTeam license. This achievement places the team at the top level of international pro cycling and is a significant step for us as our own team participated in Tour de France Femmes which was completed for the very first time in history in 2022, where we again will compete in 2023.

We have partnered with MOT to imbue all our cycling initiatives with their philosophy, aimed at fostering a robust culture grounded in strong values. By creating an environment that upholds positive attitudes and values, we enable the riders on the Uno-X Pro Cycling Team to grow and develop not just as athletes, but also as individuals, within a secure framework. Our collaboration with MOT plays a crucial role in our efforts to cultivate riders who can serve as strong and inspiring role models, promoting greater participation in cycling.

At Uno-X Mobility, we are committed to giving back to the communities where our journey started, and our first initiative was to sponsor local cycling clubs. We recognise the vital role these clubs play in fostering opportunities for young people to be part of a team, develop their skills, and have fun together. The primary

mission of these local sports teams is to inspire mastery, foster unity, and provide enjoyment for as many people as possible. As a result, we will continue to support selected regional cycling clubs in Norway and add new partnerships to our roster. Our partnerships with the Norwegian Cycling Union (NCF) and the Danish Cycling Union (DCU) are also crucial components of our commitment to cycling. NCF and DCU have significant societal roles in making cycling an accessible activity for everyone. In particular, our partnership with DCU is focused on creating opportunities for young female riders and has been described as a game-changer for young Danish female cyclists. In Denmark, we have also established a long-term partnership with Team Rytger, a women’s team (U17, junior and elite).

COMPANY

NAME OF HEALTH PROMOTING PARTNERSHIPS CATEGORY BRIEF DESCRIPTION

Uno-X Mobility in Norway MOT

Mental health MOT promote individual resilience, independence and awareness, targeting youth.

Uno-X Danmark and YX Danmark MOT Mental health MOT promote individual resilience, independence and awareness, targeting youth.

Uno-X Mobility Uno-X Pro Cycling Team

Uno-X Mobility Uno-X DARE Development Team

Uno-X Norge Bicycle races

Uno-X Danmark Team Rytger

Uno-X Danmark and Uno-X Norge

DCU and NCF

Uno-X Norge Johannes Høsflot Klæbo

YX Norge Johannes Thingnæs Bø and NSSF

Uno-X Forsyning Norwegian gymnasts national team

Uno-X Norge Cycling Clubs

Physical health Own and operate Uno-X Pro Cycling Team, women and men

Physical health Own and operate Uno-X DARE Development Team

Physical health Partner with races

Physical health Partnership withTeam Rytger, a danish womens cycling team (U17, junior and elite)

Physical health Partnerships with the Danish Cycling Union (DCU) and the Norwegian Cycling Union (NCF)

Physical health Partnership with the Norwegian nordic ski atlethe Johannes Høsflot Klæbo

Physical health Partnership with the Norwegian biathlete Johannes Thingnes Bø and the Norwegian Biathlete association (NSSF)

Physical health Sponsor agreements with the Norwegian gymnastics national team, men and women

Physical health Sponsor agreements with the cycling clubs: Lillehammer, Ringerike, Stavanger, Glåmdal and Kristiansand

Photo: Wordup Projects

Uno-X Mobility Annual and Sustainability Report 2022

Photo: Wordup Projects

Uno-X Mobility Annual and Sustainability Report 2022

Directors’ Report

Uno-X Mobility is one of four business areas in Reitan Retail beside REMA 1000 in Norway, REMA 1000 in Denmark and Reitan Convenience - owned by REITAN.

Mission

Uno-X Mobility’s mission is to develop and promote solutions for sustainable mobility.

Operations

Today, Uno-X Mobility consists of ten operating companies under the Uno-X and YX brands in Norway and Denmark.

Norway: Uno-X Norge AS - Uno-X

E-Mobility Norge AS - YX Norge AS - Uno-X

Forsyning AS - YX Smøreolje AS

Denmark: Uno-X Danmark A/S - Uno-X

E-Mobility Danmark A/S – YX Danmark A/S - YX

Smøreolie A/S – Uno-X Konceptdesign A/S

In addition, Uno-X Mobility AS has a 50 % interest in the Danish company Skanol A/S and a 50 % interest in the Swedish company Scanlube AB. YX Danmark A/S also holds a 50 % interest in Samtank A/S, a Danish company operating depots for storage of liquid fuel products.

Uno-X Mobility AS and its Norwegian operations are headquartered at Ensjø/ Oslo, while the Danish operations are headquartered in Søborg/Copenhagen. Uno-X Konceptdesign’s production takes place in Hammel, in Jutland, Denmark.

REVIEW OF THE ANNUAL ACCOUNTS

The financial statements have been prepared in accordance with the International Financial Reporting Standards (IFRS) as endorsed by the European Union. The separate financial statements of the parent company have been prepared in accordance with

provisions of simplified IFRS, provided in the regulations to the Norwegian Accounting Act, section 3-9, subsection 5.

Results

Uno-X Mobility’s revenue was NOK 21 756 million in 2022, an increase from NOK 13,251 million in 2021. The product volume sold was 1,785 (1,000 mÑ), compared to 1,785 (1,000 mÑ) in 2021. Revenue increased in 2022, primarily related to prices for oil products being higher in 2022 than in 2021.The average Brent Spot price was USD 99 per barrel in 2022, compared to USD 71 per barrel in 2021. The oil price started the year at about USD 79 per barrel and increased to about USD 86 at the end of the year. Earnings before interest, tax, depreciation, and amortisation (EBITDA) amounted to NOK 1,191 million (NOK 1,336 million), while operating profits were NOK 723 million (NOK 972 million). Profit before income tax was NOK 734 million (NOK 910 million). Profit for the year amounted to NOK 560 million (NOK 704 million). The results in 2022 is at

a high level historically, impacted by strong performance and positive inventory effects from increasing oil prices, but somewhat below 2021 which was even more positively impacted by positive inventory effects.

Balance Sheet and Liquidity

Total assets as at 31. December 2022 were NOK 8,163 million (NOK 6,159 million), while liquid assets as at 31 December 2022 were NOK 132 million (NOK 85 million). Net interestbearing debt ex. lease liabilities was NOK 1,121 million (NOK 599 million), and investments in non-current assets were NOK 778 million (NOK 560 million). Equity at the end of the year was NOK 3,171 million (NOK 2,163 million), which gives an equity ratio of 39 % (35 %).

Cash Flow from Operations

Cash flow from operations amounted to NOK 270 million (NOK 828 million). EBITDA was NOK 1,191 million (NOK 1,336 million). The difference between cash flow from operations and EBITDA is mainly due to changes in working capital. Changes in working capital resulted in a cash flow of NOK -920 million (NOK -515 million). The group has a solid financial position.

In the opinion of the board of directors, the financial statements provide a true and fair view of the company’s operations and financial status. In according with Section 3-3a of the Norwegian Accounting Act, the Board confirms that the prerequisites for the going-concern assumption exist and that financial statements have been prepared on a going-concern basis.

Financial Risk

Uno-X Mobility has its core business in trading of oil products and is consequently exposed to risk relating to oil price changes. Liquid reserves and available credit facilities are of considerable importance to the group’s liquidity situation. The limits of the credit facilities available to the group vary according to its outstanding receivables and inventories. Consequently, its access to debt financing varies largely with the fluctuations in its need for working capital. Fossil fuel prices saw a spike in the middle of 2022 because of the Russian invasion in Ukraine and the sanctions EU started to impose on Russian oil and gas import.

It is worth mentioning that fossil prices were significantly low at the start of the year coming out of the pandemic. The biggest effect of the Ukrainian situation was a reduction in Russian diesel imports into Europe, putting pressure in both availability and prices in an already short diesel market. Biofuel prices also saw an increase throughout the year, with sharp peaks in summer.

The group’s revenue consists of sales to private, commercial, and industrial customers, and to dealers that own and operate stations under the YX brand. The group has established routines for credit assessment and continuous follow-up of individual customers. In addition, the Danish subsidiaries have reduced its risk for losses on accounts receivable using credit insurance. Historically, defaults and losses on accounts receivable have been low, the group experienced a loss of NOK 9 million in 2022 (NOK 19 million) on its accounts receivable. In the Danish subsidiaries the procurement of oil products is mainly settled in USD while the procurement of oil products in Norway is mainly settled in NOK. Uno-X Mobility seeks to limit exposure related to ownership interests in

foreign operations by adjusting the composition of the debt portfolio to reflect the importance of the individual currency and country in relation to the group’s total activities.

Note 4 – Financial risk management provides a more detailed description of the group’s financial risk and sensitivity to changes in oil prices, interest levels and currency rates.

UNO-X COMPANIES

Self-service Stations and Car Wash in Norway

The nationwide network of Uno-X branded self-service stations in Norway offers the customer an efficient and convenient experience and the lowest priced fuels. At the end of year the network consisted of 202 stations. In 2021, the concept Uno-X Nordic Swan ecolabelled car wash was launched, making it easier for customers to choose a more environmentally car wash. With 22 new locations during 2022, 35 Uno-X locations offer ecolabelled car wash by year end. The company has strengthened its position as a market leader in the self-service segment in 2022 and will continue to invest in its portfolio

going forward. Uno-X Norge has further developed its commitment to cycling during 2022, both as an integrated marketing strategy and to inspire to more cycling in daily life.

Self-service Stations and Car Wash in Denmark

The nationwide network of self-service stations in Denmark offers low-priced fuels at easily accessible locations. As in Norway the concept Uno-X Nordic Swan ecolabelled car wash was launched during 2021, making it easier for customers to choose a more environmentally friendly car wash. 17 Uno-X locations offer ecolabelled cars wash by year end. In total the company had 224 stations by year end, 147 Uno-X stations and 77 Bonus stations. 132 Uno-X stations have been upgraded with a new design focusing on user-friendliness and safety for the customer. A continuous effort to modify and restructure the network going forward will enable the company to operate at a lower cost level and strengthen its position in the Danish market. Uno-X will take over as supplier of liquid fuel along the road when the agreement between Shell/DCC and Reitan Convenience expires on 31 December 2023.

Today, this is a portfolio of 56 locations branded as Shell 7-Eleven. As a marketing strategy and to inspire more everyday cycling Uno-X Danmark has continued its commitment to sponsor the Danish cycling union.

Uno-X eMobility in Norway and Denmark

Due to a favourable regulatory framework, Norway is at the forefront when it comes to EVs proportion of the passenger car fleet. The number of EV is also increasing rapidly in Denmark. During 2021 the board of Uno-X Mobility decided to develop and build Uno-X Ultrafast EV Charging at locations operated by Reitan Retail in Norway and Denmark, e.g. including Uno-X, REMA 1000 and YX 7-Eleven. Uno-X’s EV charging concept offers stateof-the-art solutions for the best possible customer experience. E.g. digital solutions with clear and simple price information and flexible payment choices. The first EV charging location opened in April 2022, in Nyborg, Denmark. In Norway, the first EV charging location opened in November 2022, in Drammen. Seven locations offer EV charging by year end, five of these are co-located with a REMA 1000 sales outlet. On medium-term

1 000 EVs will be able to charge simultaneously at Reitan Retail location. The network can be a major contributor to sustainable mobility in both Norway and Denmark, and gradually cause a transfer of Uno-X Mobility’s revenue from liquid fuels to electricity.

Uno-X Sykkel (Bikes)

Uno-X Mobility owns and operates Uno-X Pro Cycling Team consisting of a women’s and a men’s team, naturally on equal terms. The operations are run by the company Uno-X Sykkel, both as a marketing strategi and to promote cycling as an important measure for reducing emissions from road transport. The cyclists compete at the highest levels in international cycling and in 2023 both the men’s and women’s teams will participate in the iconic Tour de France. This is one of the world’s largest sporting events, a great opportunity both for branding and enthusiasm for cycling.

Uno-X Konceptdesign

In December 2022, Uno-X Mobility AS’ newly founded subsidiary Uno-X Konceptdesign A/S acquired 100 % of the shares in the companies in the Ipart Group, i.e. Ipart ApS,

Washbox ApS, MVK Eiendomme ApS, E-Unit A/S and Car Care Digital A/S. All companies registered in Denmark. Ipart Group is mainly active in module-based building concepts and is an entrepreneurial company, based on a role as a supplier to the Uno-X companies in Norway and Denmark. Ipart has developed into an important supplier of module-based solutions for car washers, fuel stations and EV charging stations for the Uno-X companies.

YX COMPANIES

Full-service Stations and Truck Stations in Norway

With station formats YX, YX 7-Eleven (both full-service) and YX Truck (self-service) YX

Norge aims to be the best and most efficient supplier and partner for dealers that own and operate full-service stations. The company has a well-functioning cooperation with the dealers through GIR NORGE AS (YX Dealers’ Forum) with a chain of 187 YX stations by the end of the year, and a strong cooperation with Reitan Convenience Norway (7-Eleven)

with a chain of 83 YX 7-Eleven stations at year end. YX is also well positioned in the transport sector with 41 company owned and operated YX Truck self-service locations complementing the network in the truck market. To strengthen the YX brand, a longterm sponsorship agreement was established with NSSF (Norway’s Biathlon Association) in 2017. Furthermore, in 2021, YX entered a long-term, individual agreement with Johannes Thingnes Bø, the world’s no.1 biathlete. Together with MOT and NSSF, YX has honoured young biathletes with courage that stands out as role models in their respective local communities. (“The biathlete with courage award”). All in all, YX Norge is well positioned for the future with a strong market presence for both private and professional customers.

Truck Stations, Commercial Fuels and Heating Fuel in Denmark

YX Danmark mainly serves the Danish corporate market and delivers some heating fuel to the private market. With the objective of making the YX brand a strong symbol of the company’s commitment to its customers, YX focus on three market

segments: YX Ervherv (commercial fuels), YX Landbrug (agriculture) and YX Fyringsolie (heating fuel). YX Erhverv is a major supplier to Danish companies and transport and has the largest dedicated truck network in the country, counting 73 locations by year end. YX wants to contribute to the renewable energy transition and offers 100 % HVO (biofuel) from four of its YX Truck locations in Denmark, and for bulk delivery at customer locations. This product has a CO2 displacement of at least 85 % and is free of soy and palm oil. All in all, YX is well positioned to meet the strong competition in its markets going forward.

Lubricants in Norway and Denmark

The activity in the two YX lubrication companies include sales, marketing, technical support, distribution, and storage of lubricating oil products throughout the counties. In addition, the company in Denmark handle sales and delivery to Greenland, Iceland, the Faroe Islands, Finland, Estonia, Latvia, and Lithuania. Local partnerships allow the companies to meet customer expectations for service, product, and logistics. YX aims to provide the best service for its customers representing

a wide range of industries from marine, contractor, agriculture to a small workshop. The company offers the market high quality Texaco lubricants produced at the associated company Scanlube AB, synthetic speciality lubricants from Anderol, and environmentally adapted lubricants from Panolin. Also contributing to the high level of quality is the Danish laboratory, offering product analyses.

SOURCING, STORAGE AND DISTRIBUTION

Sourcing and Storage in Norway

Uno-X Forsyning AS is responsible for sourcing, storing, and supplying transport fuels on behalf of Uno-X Mobility’s subsidiaries in Norway. The company’s main objective is to secure reliable supply of transport fuels at competitive rates contributing to its customers competitiveness in the marketplace. This is achieved by collaborating with strategic partners to supply the right quality fuels safely and responsibly at the most competitive prices across the country. It is precisely these partnerships that enables a successful management of

product supply, especially in challenging environments like aftermath of the pandemic COVID-19 or the Russian invasion in Ukraine.

Uno-X Forsyning operates its own terminals along the coast of Norway and provides access to other terminals through third party commercial agreements. In 2022, the company increased the share of sustainable biofuels in its product mix and sourced nearly all of its biofuels from waste and residue feedstock, free from palm or soya oil. As a result, the company contributes to significantly reduce greenhouse gas emissions in the Norwegian road transport sector. The company continued in 2022 to be the main sponsor of the Men and Women Norwegian national gymnastics teams, with the intention to promote healthy physical activity and seek inspiration from top sports performance.

Sourcing and Storage in Denmark

YX Danmark A/S handles sourcing and supplying of fuel products to both YX Danmark A/S and Uno-X Danmark A/S. Sourcing and supply are vital functions, and significant demands are made regarding

availability, product quality and competitive prices. Storage is handled by Samtank A/S, a company owned 50 % by YX Danmark A/S.

Distribution in Norway and Denmark

The cooperation with the distribution company Skanol A/S, an associated company in the group, is crucial both in Norway and in Denmark. With its professional route planning function and tanker fleet for transportation, Skanol ensures that all Uno-X Mobility companies can offer their customers the right products, at the right place and at the right time.

PEOPLE AND CULTURE

REITAN aims to be recognised as the most value-driven company, and the REITANmindset is based on eight values and eleven key success factors. Value-based leadership has been crucial, building a strong corporate culture in all business areas of Uno-X Mobility.

Values

1. We stick to our business model

2. We keep high moral standards

3. We are committed to be debt-free

4. We encourage a winning culture

5. We are positive and proactive

6. We talk with each other, not about each other

7. The customer is our ultimate boss

8. We work for fun and profit

Value-based Culture

Based on the REITAN - mindset Uno-X Mobility places considerable trust in its subsidiaries, which subsequently organize their operations in a way that makes the distance between responsibility, authority, and operative implementation as short as possible. Uno-X leaders practice value-based leadership defined as “developing great people who take action through trust”. An Uno-X leader is clear about expectations and combines it with trust. Then, by being an inspirational performance coach, Uno-X leaders enable people to make good decisions based on a strong overall understanding of the business.

Employee Development Programs

Uno-X Mobility seeks talented and dedicated people, and the organisational structure supports development and growth for the individual employee, based on the REITANmindset. As part of the continuous work to maintain a strong value-based culture, Uno-X Mobility completes tailormade development initiatives for companies, groups, and individuals. Uno-X leaders also participate in programmes offered at REITAN’s Value Academy for leaders.

MOT

Since 2010 Uno-X Mobility has been a committed partner to the organisation MOT. The main objective of MOT is to strengthen youth’s robustness and quality of life, their mental and physical health and well-being. Working proactively MOT is a major contributor to society, inspiring youth to take good care of themselves and others and being good role models. Based on a common set of values the cooperation with MOT is an important part of all internal culture development as well.

Diversity and Equality

Uno-X Mobility emphasises a positive attitude towards people, healthy relations, and equal opportunities for all. Recruiting, training, or organisational development is based on an assessment of competence, personality and potential, regardless of gender, age, religion, sexual orientation, or ethnic origin. Although the corporate values represent equality, Uno-X Mobility still need to be focused on providing the right measurements and efforts to ensure the business walks the talk. When recruiting Uno-X for example aim for gender balance in the last phase of the recruitment process. The same applies when considering promotion of employees to new responsibilities. For further information, see the Appendix section of this Annual and Sustainability Report.

Employees

At the end of 2022, Uno-X Mobility had 299 employees (hereby 65 employed by Uno-X Koncepdesign, 35 employed by Uno-X Sykkel/ Uno-X Pro Cycling Team, and 39 temporary employed or nonguaranteed hours employed).

There is 70 % male employees and 30 % female employees of the total 299 employees. 136 employees in Norway and 163 in Denmark.

The overall sick leave including long-term sick leave was 1,8 %. Lost time injuries have not been registered in 2022.

Uno-X Mobility top management group consist of seven men and one woman. Liability insurance has been taken out for the board members and the general manager for their possible personal liability to the company and third parties.

Due to the war in Ukraine, and the aftermath of the Covid 19 pandemic, 2022 has been yet another challenging year for Uno-X Mobility subsidiaries and employees. Nevertheless, all Uno-X Mobility companies have performed well, and the board would like to extend its thanks to all employees for a positive and proactive approach and good performance during the year.

ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG)

Uno-X Mobility identifies as a strong valuebased company and is committed to develop and promote solutions for sustainable mobility. Since 2019 Uno-X Mobility has worked to align its sustainability reporting with international standards. Uno-X Mobility Annual and Sustainability Report 2022 has been prepared in accordance with the Global Reporting Initiative (GRI) Standards 2021, and the corresponding GRI 11 sector standard for Oil and Gas. Targeted UN Sustainable Development goals are included the reporting. Greenhouse gas emissions is calculated aligned with the GHG Protocol to manage climate impact both from own operations and value chain. The company is highly qualified in its product operations and has a strong focus on compliance with high safety and environmental standards. During 2022, a Suppliers Code of Conduct (SCoC) was implemented in all subsidiaries. Due diligence assessments related to the risk of violations of human rights and employee rights have been carried out in all subsidiaries in accordance with the Norwegian Transparency act (Åpenhetsloven), entering

into force the 1st of January 2022. For further information, see the responsibility section of this Annual and Sustainability Report.

OUTLOOK

General Considerations

There is always uncertainty regarding the future. As a consequence of the ongoing war in Ukraine the world economy and the market for refined fuel is expected to be continuously characterised by increased uncertainty, and securing fuel supply will be a high priority going forward.

A slow decline in the market for liquid fuels are expected to continue in coming years due to electrification of road transport. Uno-X Mobility aims to deliver the energy demanded by the market going forward, acknowledging all solutions contributing to reducing emissions as well as technologies that help to conserve and protect the environment.

In the years ahead, Uno-X Mobility will continue its ambitious plans for roll-out of Nordic Swan ecolabelled car wash and ultrafast EV charging on locations operated by Reitan Retail.

Uno-X Mobility expect another year of stable value creation for its stakeholders in 2023.

Oslo, 14.04 2023

OLE ROBERT REITAN Chairman of the Board and CEO Reitan Retail

MONICA ØDEGAARD Board member

KRISTIN S. GENTON Board member

VEGAR KULSET CEO Uno-X Mobility

Consolidated Financial Statements

Uno-X Mobility

Consolidated Comprehensive income

Balance Sheet at 31 December - Assets

Balance Sheet at 31 December - Equity and liabilities

Statement of Cash Flow

The group's financing solution is classified as an overdraft facility, this scheme is included in cash in this statement.

of 31 December 2022 Uno-X Mobility has unused credit facilities of NOK 434 (NOK 719 million as of 31 December 2021).

Notes to the Financial Statements

Note 1 – General information

Uno-X Mobility is a group consisting of the trade companies Uno-X Danmark A/S (Denmark), YX Danmark A/S (Denmark), YX Smøreolje (Norway and Denmark), Uno-X E-Mobility (Norway and Denmark), Uno-X Norge AS (Norway), YX Norge AS Norway), Uno-X Forsyning AS (Norway) and Uno-X Konceptdesign A/S (Denmark).

The parent company, Uno-X Mobility AS is registered and domiciled in Norway, and its head office is located in Oslo. Uno-X Mobility AS is 100

Note 2 – Accounting policies

The principal accounting policies applied in the preparation of these consolidated financial statements are set out in the respective notes, more general principles are discussed below. These policies have been consistently applied to all the years presented, unless otherwise stated.

2.1 Basis of preparation

The consolidated financial statements of Uno-X Mobility AS have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the EU.

The consolidated financial statements are prepared under the historical cost convention, as modified by the revaluation of land and buildings, financial assets and financial liabilities (including derivative instruments) at fair value through profit or loss.

The preparation of financial statements in conformity with IFRS requires the use of estimates. Furthermore, the application of accounting principles requires management to exercise judgment. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 4 - Critical accounting estimates and jugdments

The consolidated financial statements are prepared under the going concern assumption.

2.2 Consolidation

2.2.a Subsidiaries

Subsidiaries are all entities (including structured entities) over which the group has control. The group controls an entity when the group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date that control ceases.

percent owned by Reitan Retail AS. Odd Reitan Private Holding AS is the group’s ultimate parent company. Reitan Retail AS’ head office is located in Oslo. Uno-X Mobility AS is included in the consolidated financial statements of Reitan Retail AS.

The consolidated financial statements of Uno-X Mobility AS were approved by the company’s Board of Directors on 14 April 2023.

2.2.b Associates

Associates are companies in which the group has significant influence but not control. Significant influence normally exists where the group has between 20 and 50 percent of the voting rights. Investments in associates are included using the equity method.

2.3 Foreign currency translation

Items included in the financial statements of each of the group’s entities are measured using the currency of the primary economic environment in which the entity operates (‘the functional currency’). The consolidated financial statements are presented in Norwegian krone (NOK), which is the group’s presentation currency.

Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or valuation where items are re-measured. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the income statement. Foreign exchange gains and losses that relate to working capital are classified as operating profit/loss. Currency items related to financing activities are included in net financial income (expenses).

2.4 New and amended standards adopted by the group

There are no new interpretations that have material effect on our financial statements.

2.5 New standards and amendments to / interpretations of existing standards that are not yet effective and not have been early adopted by the group

There are no other IFRSs or IFRIC interpretations that are not yet effective that are expected to have any material impact on our financial statements.

The group has its core operations in the market for sale, distribution and marketing of petroleum products.

The group’s activities involve various financial risks: market risk (including currency risk, fair value interest risk, floating interest risk and price risk), credit risk and liquidity risk. The group’s overall risk management plan focuses on the capital markets’ unpredictability and represents an attempt to minimize potential negative effects on the group’s financial performance. The board of directors approves the principles for overall risk management, and provides guidelines for specific areas such as currency risk, credit risk, use of financial derivatives and use of surplus cash.

3.1

Market risk

3.1.a Currency risk

The major part of the group’s operations is located in Scandinavia, and the group is exposed to currency risk in several currencies. This risk is particularly related to Danish kroner. Currency risk arises from future trading transactions, assets and liabilities recognised in the balance sheet, and net investments in international operations. This risk is still limited, as our operational units mainly have their income and cost and keep their accounts in local currency. The group has investments in foreign subsidiaries, where net assets are exposed to currency risk in foreign currency translation. We try to limit this exposure by ensuring an overall debt portfolio composition that to the greatest possible extent is adapted to the individual currency’s and country’s relative importance in the group’s activities.

The effect of a 10 percent change against the Norwegian krone is shown in the table below. The effects are calculated on the basis of the group’s net assets (liabilities) in each currency at 31 December 2022.

-10% + 10%

(loss) -21 21

Effect on equity 144 -144

3.1.b Price risk

The prices of oil products follow an international market. Because of turnover in stock, we are exposed to price changes. It is company policy not to hedge against such changes. This can have a significant impact on the individual annual accounts.

Our products are subject to price changes due to fluctuations in the international market and strong price competition in our market. With close monitoring and frequent list price changes in line with cost developments, we have managed to keep our margins at a satisfactory level.

3.1.c Interest risk

Since the group has no major interest-bearing assets, its profits and cash flows from operating activities are mainly independent of fluctuations in the market interest rates.

The group’s interest risk is related to borrowings, lending and bank deposits. Loans with floating interest represent an interest risk for the group’s cash flow. The effects are calculated on the basis of the group’s net interest bearing receivables (liabilities) at 31 December 2022.

Interest -5%-point +5%-point

Effect on interest income -40 40

Effect on equity -31 31

3.2 Credit risk

Historically, defaults and losses on accounts receivables have been low in the Scandinavian market. However, the group also has a considerable turnover relating to customers. In such cases, we perform a thorough analysis of the credit quality of new customers, and corresponding routines have been implemented for assessment of existing customer relations. A certain credit risk also arises from committed transactions with customers and derivatives and deposits with financial institutions. Counterparties in derivative contracts and financial deposits are limited to financial institutions with high creditworthiness.

3.3 Liquidity risk

The group operates in a market with high turnover. Cash flows are high and relatively stable, but volatile within a week/month. The group manages its liquidity risk by ensuring a sufficient amount of cash in combination with sufficient headroom on its undrawn borrowing facilities.

Management monitors the group’s liquidity reserves (consisting of various borrowing facilities (note 25) and cash (note 21)) through rolling forecasts based on expected cash flow. Management follows its liquidity reserves separately for each main currency (NOK and DKK).

The table below specifies the group’s borrowings and net-settled derivative financia liabilities into relevant maturity groups based on the remaining period at the balance sheet date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows. Balances with less than 12 months maturity equal the balance sheet amounts, as the discounting effect is insignificant.

31 December 2022 <1 yr 1-2 yr 2-5 yr >5 yr Total

Note 3 – Financial risk management - continued

3.5 Assessment of fair value

The fair value of financial instruments traded in active markets (such as securities available for sale or held for trading purposes) is based on quoted market prices at the balance sheet date. The quoted market price for financial assets is the current bid price. For financial liabilities, the current sales price is used.

The fair value of financial instruments that are not traded in an active market is determined by using valuation techniques. The group utilises various methods and makes assumptions based on the prevailing market conditions at the balance sheet date. For long-term liabilities, quoted prices

Note 4 – Critical accounting estimates and judgments

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

4.1 Critical accounting estimates and assumptions

for the actual instrument or for a similar instrument are used. Other techniques, such as the discounted value of future cash flow, are used to determine the fair value of other financial instruments. The fair value of nterest rate swaps is calculated as the present value of the estimated future cash flows.

The accounting value of accounts receivable and payable is assumed to equal the fair value of these items. The fair value of financial liabilities (calculated for note purposes) is estimated by discounting future contractual cash flows with the group’s alternative market interest for similar financial instruments.

3.4 Risk related to financing and capital structure

The group’s ambition regarding financing and capital structure is based on Reitangruppen’s value principle no. 3: “We shall be debt-free.” This entails that the parent company should be debt-free, while the group seeks an optimal business solution within the framework of appropriate risk management.

This value principle is operationalised by the board of directors in REITAN, who has established decision rules for each individual business area. The decision rules define the scope for financing alternatives and capital structure. The decision rule for Uno-X is that its debt should not exceed 1.5 times EBITDA. Financing is resolved within each individual business area, as long as the capital structure is within the scope defined by the decision rules.

The board is authorised to approve arrangements beyond the decision rules for each business area.

In order to improve capital structure, the group may adjust its investment level, exploit available credit facilities sell financial investments or adjust the amount of dividend paid to shareholders.

Gearing ratios, expressed as net borrowings divided by total assets and as net borrowings divided by EBITDA before FIFO, are shown in the table below.

The group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below

4.1.a Environmental liabilities

The group purchases, stores and sells products based on petroleum. We have introduced routines to ensure regular environmental inspections, in order to assess costs incurred for environmental restoration and handling our environmental liability.

Every year, the group calculates environmental restoration liabilities. The calculations make use of accumulated knowledge and specific information for each service station, e.g. age, number of tanks, and a specific assessment of the stations’ environmental conditions and environment factors such as distance to sources of drinking water. These estimates are uncertain average judgments of expenses and time of settlement. External experts assist to various degree in the calculation of these estimates

See also note 24.

4.1.b Asset retirement obligations

The group has in some cases assumed a liability to reestablish properties/locations used for energy activities to its original condition when the activities at a service station cease. When entering such contracts, a iability corresponding to the present value of expected reestablishment costs is entered in the accounts. Similarly, the cost of the right of use asset is increased and depreciated over the expected lease period. The estimate, which is recognized in the balance sheet as a liability and an asset, is continuously object for revaluation.

The present value of the reestablishment cost is determined by considering all assumptions and uncertain estimates which are included in the present value of expected reestablishment cost. These include the asset’s economic life, cost of reestablishment, discount rate and rate of inflation.

See also note 24.

4.1.c Leases

The group has a significant number of leases that are recognised in the balance sheet. In accordance with IFRS 16 - Leases, assessments must be made of the rental period, discount rate and recognition of any option periods. The assessments involve a considerable degree of estimates and assumptions, and these may be different from the actual future rental conditions.

See also note 15 and note 27

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker. The chief operating decisionmaker, who is responsible for allocating resources and assess ing performance of the operating segments, has been identified as the Board of Directors.

Note 6 – Revenue

Revenue is recognised when control of the goods or services are transferred to the customer. The revenues is measured at an amount that reflects th e consideration to which the group expects to be entitled in exchange for those goods or services, net of discounts, returns, e xcise duties and value added taxes. Revenue from sale of goods is recognised at the point in time when control of the goods is transferred to the customer generally on delivery of the goods

Sales of goods

The activities of Uno-X Mobility mainly include sales, distribution and marketing of fuel through its own nationwide network of self-service stations and sales of goods to retailers. The group also sells other energy-related products directly to consumers.

A number of the products are subject to excise duties. These duties accrue when products are removed from duty -free inventories, and it is the supply and storage companies (Uno-X Forsyning (NO) and YX Danmark (DK)) that collects the duties from our customers, both internal customers in Uno -X Mobility and external customers. Excise duties that apply to our companies are lubricant duties, petrol and diesel duties, CO2 duties on all gas oil products, sulphur duties on some of our products, and bio-duties on products with bio-elements. Group revenue are presented excluding excise duties, and accordingly they are not included in cost of goods sold. In the consolidated comprehensive income, the group presents the amount of the excise duties that have been charged in the period, in addition to revenue.

Sales of services

Revenue from sales of services includes revenues from Nordic Swan ecolabelled car wash.

See note 5 - Segment reporting operational for disaggregated revenue information.

Note 7

Other income

Investments are presented as investments in operating activities.

FIFO effect is a calculated effect reflecting realised gains (losses) on oil products sold in the period. The calculated effect reflects the difference between cost price at the day the product is sold (which is the basis for the daily price settings in the market) and the historical cost paid for the product. In average products are sold 20-30 days after they are bought, and the cost price is changing in that period resulting in the calculated FIFO effects.

Note 8 - Net other gains (losses)

Note 9 - Salaries and personnel costs

Loans and guarantees to employees

The group had no loans or guarantees to employees as at 31 December 2022 nor as at 31 December 2021

Pensions

The group has both defined benefit and defined contribution plans.

For defined contribution plans, the group pays contributions to publicly or privately administered pension insurance plans on a mandatory, contractual or voluntary basis. The group has no further payment obligations once the contributions have been paid. The contributions are recognised as employee benefit expense when they are due.

A defined benefit plans typically define an amount of pension benefit that an employee will receiv e on retirement, usually dependent on one or more factors such as age, years of service and compensation. In addition to funded defined benefit plans funded through insurance companies, the group also has unfunded pension liabilities covered by operations.

The liability recognised in the balance sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method. Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charge d or credited to equity in other comprehensive income in the period in which they arise

Both the Norwegian and the Danish subsidiaries have mainly defined contribution plans.

As at 31 December 2022 the group has defined contribution plans with 257 members (171 in 2021) and defined benefit plans with 21 members (28 in 2021) Uno-X Mobility in Norway is obligated to provide an occupational pension scheme in accordance with the Mandatory Occupational Pension Act. The company’s pension scheme satisfy the requirements of the Act.

Note 9 – Salaries and personnel costs - Continued

Key management compensation

The CEO has in 2022 received incentives of 11 8 million (10,3 million in 2021) of which 9,4 million is salary and 2,4 million is pension costs (8,6 million is salary and 1,7 million is pension costs). In additon, the CEO has a long-term bonus agreement determined by financial metrics. The contract period is five years, with payment at the end of the period. For 2022, a bonus of 6,5 million was recognised (7,5 million in 2021).

The CEO is entitled to severance pay equal to twelve months of the annual base salary from the expiry of the notice period. A ny severance pay entitlement is conditional upon the CEO waiving the employee protection rights under local law and is applied in situations where the resignation is requested by the company. The CEO’s own resignation will not trigger severance payment, and the severance payment is also f orfeited in cases of summary dismissal from the company.

The group has not paid any remuneration to the Board of Directors in 2022 (NOK 0.0 million in 2021). The Chairman has no other bonus or special compensation on termination of office.

As of 31 December 2022, there are no loans or guarantees to executives, directors, shareholders or related parties.

The group has not provided any guarantees on behalf of executives, directors, shareholders or related parties.

There has not been any significant purchase or sale of goods or services between group companies and executives, directors, s hareholders or related parties.

All amounts relating to audit fees specified above are exclusive of VAT.

Note 10 - Other operating expenses

Note 11 - Net financial items

Note 12 – Income tax - Continued

Note 12

Income tax

The tax expense for the period comprises current and deferred tax.

The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the balance shee t date in the countries where the company and its subsidiaries operate and generate taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. However, deferred tax liabilities are not recognised if they arise from the initial recognition of goodwill; deferred income tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantively enacted by the balance sheet date and are expected to apply when the related deferred income tax asset is realised or the deferred income tax liability is settled.

Deferred income tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised

Deferred income tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when the deferred income taxes assets and liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities where there is an intention to settle the balances on a net basis. Based on this deferred tax asse ts and deferred tax liabilities are offset for the Danish subsidiaries, but not for the other subsidiaries. Income tax expenses and tax payable

The movement in deferred income tax assets and liabilities during the year, without taking into consideration the offsetting of balances within the same tax jurisdiction is as follows:

Note 13 – Intangible assets

Goodwill

Goodwill arises on the acquisition of subsidiaries and represents the excess of the consideration transferred over the group’s interest in net fair value of the net identifiable assets, liabilities and contingent liabilities of the acquiree at the time of acquisition.

For the purpose of impairment testing, goodwill acquired in a business combination is allocated to each of the CGUs, or group s of CGUs, that is expected to benefit from the synergies of the combination.

Goodwill impairment reviews are undertaken annually or more frequently if events or changes in circumstances indicate a potential impa irment. The carrying value of goodwill is compared to the recoverable amount, which is the higher of value in use and the fair valu e less costs to sell. Any impairment is recognised immediately as an expense and is not subsequently reversed

Software and rights

Separately acquired software and rights are shown at historical cost. software and rights are acquired in a business combination are recognised at fair value at the acquisition date. Software and rights have a finite useful life and are carried at cost less accumulated amortisation. Amortisation is calculated using the straight-line method to allocate the cost of software and rights are over their estimated useful lives of 4 - 5 years

Impairment of non-financial assets

Assets that have an indefinite useful life – for example, goodwill or intangible assets not ready to use – are not subject to amortisation and are tested annually for impairment. Assets that are subject to amortisation are reviewed for impairment whenever events or changes in circumstanc es indicate that the carrying amount may not be recoverable

An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are gro uped at the lowest levels for which there are separately identifiable cash flows (cash-generating units). Non-financial assets other than goodwill that suffered impairment are reviewed for possible reversal of the impairment at each reporting date

The carrying amounts of rights are primarily related to the trademark Uno-X and customer portfolio.

Uno-X Mobility acquired Ipart Group in 2022. Assets from this acquisition are classified as Additions from acquisition of subsidiaries.

Goodwill by segment at 31 December

Goodwill is allocated to the group’s cash generating units expected to benefit from the acquisition.

Note 14 – Property, plant and equipment

Property, plant and equipment is stated at historical cost less depreciation and impairment. Historical cost includes expenditure that is directly attributable to the acquisition of the items.

Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as ap propriate, only when it is probable that future economic benefits associated with the item will flow to the group and the cost of the item can be measured reliably. All othe r repairs and maintenance are charged to the income statement during the financial period in which they are incurred.

The asset retirement obligation is recognised as part of the acquisition cost of the asset. The estimate may be changed as a result of renewed judgment. Such changes are recognised as an increase or reduction of the asset’s carrying amount. If the reduction is greater than the asset’s carrying amount, the excess amount will be recognised in profit and loss. If the carrying amount is increased, the company will consider whether t his is an indication of impairment according to IAS 36.

Land is not depreciated. Depreciation on other assets is calculated using the straight-line method to allocate their cost or revalued amounts to their residual values over their estimated useful lives, as follows: Buildings

Station fixtures

Fixtures

Vehicles

10-25 years

5-10 years

5-10 years

5-18 years

Furniture, fittings and equipment 3-5 years

IT-eqipment 3-5 years

Fuel pumps and tanks 5-25 years

The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within ‘Net other gains (losses)’ in the income statement.

Note 14 – Property, plant and equipment - Continued

Investments in and sale of property, plant and equipment

Note 15 – Right-of-use assets

Right-of-use assets

The group measures the right-of-use asset at cost, less any accumulated depreciation and impairment losses, adjusted for any remeasurement of lease liabilities The cost of the right-of-use asset comprise:

• The amount of the initial measurement of the lease liability recognised

• Any lease payments made at or before the commencement date, less any incentives received

• Any initial direct costs incurred by the group. An estimate of the costs to be incurred by the group in dismantling and removing the underlying asset, restoring the site on which it is located or restoring the underlying asset to the condition required by the terms and condit ions of the lease, unless those costs are incurred to produce inventories.

The group applies the depreciation requirements in IAS 16 Property, Plant and Equi pment in depreciating the right-of-use asset, except that the right-of-use asset is depreciated from the commencement date to the earlier of the lease term and the remaining useful life of the right-of-use asset.

The Group applies IAS 36 Impairment of Assets to determine whether the right-of-use asset is impaired and to account for any impairment loss identified

Recognition of leases and exemptions

At the lease commencement date, the group recognises a lease liability and corresponding right-of-use asset for all lease agreements in which it is the lessee, except for the following exemptions applied:

• Short-term leases (defined as 12 months or less)

• Low value assets

For these leases, the group recognises the lease payments as other operating expenses in the statement of profit or loss when they incur.

The group has no restrictions on property, plant and equipment.

Uno-X Mobility acquired Ipart Group in 2022. Assets from this acquisition are classifies as Additions from acquisition of subsidi aries.

The remeasurements are mainly resulting from changes in lease terms as well as changes in indexes used to determine the lease payments. Information regarding changes in the group's lease obligations is specified in Note 27 – Lease liabilities

Note 16 – Investments in associated companies

group

Scanlube AB Gøteborg, Sweden 50.0 % Lubricants manufacturer

Skanol A/S Århus, Denmark 50.0 % Logistics and distribution

Samtank A/S Århus, Denmark 50.0 % Storage in tanks

Firstcycling AS Sogndal, Norway 50.0 % Development of cycling statistics website None of the group's associated companies are listed.

Summarised financial information for the associated companies

Note 17 - Investments in subsidiaries

Interests in joint operations

The group has a 25 % ownership share in Sisterne Drift DA, which operates the group’s storage facilities for oil products at Ekeberg, Oslo. The group recognises its share of assets, liabilities, revenues and expenses related to the joint operation.

Denmark Liquid fuel, business to business 100.0 % 100.0 %

YX Smøreolie A/S Søborg, Denmark Lubricants 100.0 % 100.0 %

Uno-X E-Mobility Danmark A/S Søborg, Denmark EV charging 100.0 % 100.0 %

Uno-X Konceptdesign A/S Søborg, Denmark Holding 100.0 % 100.0 % Ipart ApS Hammel, Denmark Industry 100.0 % 100.0 %

MVK Ejendomme ApS Hammel, Denmark Property 100.0 % 100.0 %

Acquisition of Ipart in December 2022

The Danish entrepreneurial company Ipart has for many years been an important partner for concept design and prefabrication. Ipart is based in Hammel, west of Århus.

Uno-X Mobility has started a rollout of Ultrafast EV Charging and Nordic Swan ecolabelled car wash in Norway and Denmark. Ipart h as a central role in this rollout, and we have therefore aquired Ipart through Uno-X Konceptdesign A/S.

This acquisition does not have material effect on the financial statements of 2022.

Note 18 – Financial instruments by category

Recognition

At initial recognition, the group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial as sets carried at fair value through profit or loss are expensed in profit or loss.

All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of directly at tributable transaction costs.

Financial assets

The classification of financial assets depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows. The group classifies its financial assets in the following measurement categories:

- Financial assets at fair value through profit or loss

- Financial assets at amortised cost

- Derivative financial assets at fair value through other comprehensive income

Financial

Financial liabilities are classified, at initial recognition, as:

- Loan and receivables at amortised cost

- Derivative financial liabilities at fair value through other comprehensive income

Amortised

After initial recognition, financial assets and liabilities at amortised cost are subsequently measured using the effective interest rate method.

Financial instruments and their carrying amounts recognised in the consolidated statement of financial position at 31 December.

Note 19 – Trade and other receivables

There is no difference between the carrying value and fair value of interest bearing assets.

The aging analysis of non-current receivables is as follows

Movement in the group provision for impairment of trade receivables

The aging analysis of overdue trade receivables is as follows

Note 19 – Trade and other receivables - Continued

Carrying amount of trade receivables and provision

Note 22 - Share capital, premium and shareholders

The carrying amounts of the group's trade and other receivables are in the following currencies

Note 20

Inventories

Inventories are stated at the lower of cost and net realisable value. Cost is determined using the first-in, first-out (FIFO) method. The cost of finished goods and work in progress comprises design costs, raw materials, direct labour, other direct costs and related production overhead s (based on normal operating capacity). It excludes borrowing costs. Net realisable value is the estimated selling price in the ordinary course of busines s, less applicable variable selling expenses. The group’s inventory substantially consists of purc hased finished goods for resale

Note 23 - Other reserves

Note 21

Cash

In the consolidated statement of cash flows, cash includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the consolidated balance sheet, b ank overdrafts are shown within borrowings in current

following for the purposes of the statement of cash flows

Note 24– Provisions for other liabilities

Provisions for environmental restoration, restructuring costs and legal claims are recognised when: the group has a present l egal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount has been reliab ly estimated. Restructuring provisions comprise lease termination penalties and employee termination payments. Provisions are not r ecognised for future operating losses.

Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre -tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.

Note 25 – Borrowings

Borrowings are recognised initially at fair value, net of transaction costs incurred. Borrowings are subsequently carried at amortised cost; any difference between the proceeds (net of transaction costs) and the redemption value is recognised in the income statement over the period of the borrowings using the effective interest method.

Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates.

Borrowings are classified as current liabilities unless the group has an unconditional right to defer set tlement of the liability for at least 12 months from the balance sheet date.

Current and non-current borrowings

Asset retirement obligations includes the obligation to return property and land to its original condition by the end of the lease period. Environmental restoration includes expenses related to the removal of contaminants that have arised as a result of operations in Uno-X Mobility

As part of the acquisition of Ipart Group at the end of 2022, a short-term loan was consolidated into the group's financial statements. The loan is related to a building and will be refinanced in accordance with the group's financial solutions in 2023.

Carrying amount of assets held as collateral for debt

Book value of building in acquired subsidiaries

The exposure of the group's borrowings to interest rate changes and the contractual re-pricing dates at the end of the reporting period are as follows:

The carrying amounts of the group's borrowings are in the following currencies:

Undrawn borrowing facilities

In 2010, the parent company Uno-X Mobility signed an agreement with DNB The agreement includes an overdraft facility of NOK 1,400 million, of which NOK 966 million was drawn at 31 December 2022. See Note 26 – Loan Agreements for a description of the facility. Unused credit facilities are at floating rates and mature within a year.

Note 26 – Loan agreements

The parent company has the following loan agreements as of 31 December 2022:

Working capital and facility agreement

Uno-X Mobility AS and DNB entered into a credit and corporate account agreement in 2010 with collateral in subsidiaries, receivables and inventories, the latter limited to Norwegian subsidiaries only. The agreement includes an overdraft facility of NOK 1‚400 million, limited to a percentage of the group’s outstanding receivables and the Norwegian companies’ inventories. The parent company is the owner of the facility. The group’s net deposits (borrowings) are presented in the parent company’s accounts.

Subsidiaries’ deposits (drawing) are presented as deposits (receivables) for the parent company. The amount as of 31 December 2022 is included in Note 25

Borrowings under ”Bank overdrafts – current assets”.

All subsidiaries are members of the credit and corporate account agreement and have provided an on -demand guarantee as collateral for Uno-X Mobility AS and its obligations according to the working capital facility agreement.

The following financial covenants apply to the credit facility in Uno-X Mobility:

Note 27 – Lease Liabilities - Continued

Equity share are measured excluding IFRS 16 leases. EBITDA is adjusted for IFRS 16 lease payments. During 2022 Uno-X Mobility AS was in compliance with these covenants.

Note 27 – Lease Liabilities

The lease liability is recognised at the commencement date of the lease. The group measures the lease liability at the present value of the lease payments for the right-to-use the underlying asset during the lease term that are not paid at the commencement date. The lease term represents the non -cancellable period of the lease, together with periods covered by an option either to extend or to terminate the lease when the group is reasonably certain to exercise this option.

The lease payments included in the measurement comprise of:

• Fixed lease payments (including in-substance fixed payments), less any lease incentives receivable

• Variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date

• Amount expected to be payable by the group under residual value guarantees

• The exercise price of a purchase option, if the group is reasonably certain to exercise that option

• Payments of penalties for terminating the lease, if the lease term reflects the group exercising an option to terminate the lease.

The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability, re ducing the carrying amount to reflect the lease payments made and remeasuring the carrying amount to reflect any reassessment or lease modifications, or to reflect adjustments in lease payments due to an adjustment in an index or rate.

The group does not include variable lease payments in the lease liability. Instead, the group recognises these variable lease expenses in profit or loss.

The discount rate used to calculate the present value of future rental payments is the lease's implicit interest rate, if available. The lease's implicit interest rate is not available for most of the group's eases. In such cases, the lessees marginal loan rate is used, which consists of a base rate and a credit premium. The base rate is a market rate based on a combination of the tenant's home country and the term of the lease. The term is ass igned to one of three maturity intervals, either 1-5 years, 5-10 years or over 10 years. Interest rates of 2, 4 and 10 years are used for the three intervals respectively. Credit premiums correspond to market credit premiums for companies with similar credit ratings as tenants. Credit rating is determined through individual credit assessment of the individual tenant. Interest expenses related to the lease obligations are recognized as a separate line in the in come statement. The group presents its lease liabilities as separate line items in the statement of financial position.

The remeasurements are mainly resulting from changes in lease terms as well as changes in indexes used to determine the lease payments. Information regarding changes in the group's lease assets is specified in Note 15

Rights-of-use assets.

Guarantees

Company guarantees for others

Note 31 – Related parties

Shareholders

Uno-X Mobility AS is a 100 percent owned subsidiary of Reitan Retail AS, se note 22 – Share capital, premium and shareholders. Reitan Retail AS is 100 percent controlled by the Reitan family through three holding companies. Reitan Retail AS also owns shares of other companies. Uno-X Mobility AS has office location in Oslo, Norway

Related parties

Uno-X Mobility AS has direct and indirect ownership in 22 companies. The subsidiaries of Uno-X Mobility AS are presented in Note 17 - Investment in subsidiaries.

Associated companies of Uno-X Mobility AS are shown in Note 16 – Associated companies.

Current receivables are related to claims arising from the purchase and sale of goods and services as well a s accrued interest on the loan. The receivables are unsecured and non-interest bearing.

The group has not made any provisions for losses on current receivables from related parties as of 31 December 2021 or 31 December 2020, nor have any such losses been realised in 2021 or 2020

The subsidiaries' joint guarantee for parent company liabilities

All subsidiaries of Uno-X Mobility AS have jointly and separately guaranteed for Uno-X Mobility AS’ liabilities related to the credit and corporate account agreement of NOK 1,400 million. See Note 26 – Loan agreements

Note 29 - Net interest bearing liabilities

Current liabilities are related to the purchase and sale of goods and services, and accrued interest on the loan.

Note 30 - Trade and other payables

Trade payables are recognised initially at fair value and subsequently measured at amortised cost using the effective interes t method. The interest element is disregarded if it is insignificant.

Uno-X Mobility has some leases with subsidiaries of Reitan Eiendom (other related parties) in Norway. Following the implementation of IFRS 16, the cost of leases recognised is presented as depreciation of the right-of-use asset and as interest expense on the lease liability. The following categories of leases with related parties has been identified.

• Uno-X Norge AS leases land for some self-service stations with a total rental payment in 2022 of NOK 4 million (2021 NOK 3 million). The agreements have a total lease liability as of 31 December 2022 of NOK 15 million (2021 NOK 13 million).

• Uno-X Forsyning AS leases storage facilities with a total rental payment in 2022 of NOK 1 million (2021 NOK 1 million). The agreements have a total lease liability as of 31 December 2022 of NOK 4 million (2021 NOK 3 million).

• YX Norge AS leases storage facilities with a total rental payment in 2022 of NOK 1 million (2021 NOK 1 million). The agreements have a total lease liability as of 31 December 2022 of NOK 0 million 2021 NOK 0 million).

Financial Statements Uno-X Mobility AS

Comprehensive income

Balance Sheet at 31 December - Assets

Balance Sheet at 31 December - Equity and liabilities

Statement of Cash Flow

Notes to the Financial Statements

Note 1 – Accounting policies

Uno-X Mobility AS is the group’s parent company. The separate financial statements of Uno-X Mobility AS have been prepared in accordance with the provisions of simplified IFRS in separate financial statements, provided in regulations to the Norwegian Accounting Act, section 3-9, subsection 5 (“Regulations on simplified use of international accounting standards, chapter 4”), as laid down by the Norwegian Ministry of Finance 3 November, 2014.

Applying the simplified version of IFRS to the parent company accounts means that valuation rules and accounting policies applied in the consolidated accounts also apply to the parent company, Uno-X Mobility AS. See the group accounting policies for further information. A simplified application of IFRS enables the financial statements and note information to accord with the Accounting Act. The financial statements and notes for the parent company have been organised in accordance with the Accounting Act, with the exception of the comprehensive income statement, which follows IFRS.

Note 2 - Total revenue

1.1

Shares in subsidiaries

Shares in subsidiaries are entered at cost in Uno-X Mobility AS’ financial statements (cf. IAS 27.37).

1.2

Dividend and group contribution

Accountable entities that prepare separate financial statements according to the regulations of the Accounting Act, section 3-9, without prejudice to other provisions in these regulations, enter dividends and group contributions in accordance with other provisions of the Act. This means that any dividends and group contributions given or received by the parent company are entered in the accounts the year before the decision to give or receive such dividend or group contribution is made. This also applies to any tax effects relating to such transactions.

Note 3 - Salaries and personnel costs

The group had no loans or guarantees to employees as at 31 December 2022, nor as at 31 December 2021.

Retirement benefit obligations

As of 31 December 2022, the parent company had two active members in its plan (two as of 31 December 2021). The parent compan y’s pension costs in 2022 were NOK 2 million (NOK 2 million in 2021). The company’s net pension liability at 31 December 2022 was NOK 7 million (NOK 7 million as of 31 December 2021). Uno-X Mobility AS is obligated to provide an occupational pension sheme in accordance with the Mandatory Occupational Pension Act

The company’s pension scheme satisfy the requirements of the Act.

Key management compensation

The CEO has in 2022 received incentives of 11.8 million (NOK 10.3 million in 2021) of which 9.4 million is salary and 2.4 mil lion is pension costs (8 6 million is salary and 1.7 million is pension costs) In additon, the CEO has a long-term bonus agreement determined by financial metrics. The contract period is five years, with payment at the end of the period. For 2022, a bonus of 6 5 million was recognised (7 5 million in 2021).

The CEO is entitled to severance pay equal to twelve months of the annual base salary from the expiry of the notice period. A ny severance pay entitlement is conditional upon the CEO waiving the employee protection rights under local law and is applied in situations where the resignation is requested by the company. The CEO’s own resignation will not trigger severance payment, and the severance payment is also forfeited in cases o f summary dismissal from the company.

The group has not paid any remuneration to the Board of Directors in 2022 (NOK 0.0 million in 2021). The Chairman has no other bonus or special compensation on termination of office.

As of 31 December 2022 there are no loans or guarantees to executives, directors, shareholders or related parties, nor as at 31 December 2021. Fees to auditors

The parent company had audit fees of NOK 0.7 million exclusive of VAT in 2022 (NOK 0.4 million in 2021).

Note 4 - Other operating expenses

Note 7 - Investments in subsidiaries

Note 5 - Net financial items

Note 8 - Investments in associated companies

6 - Income tax

Note 9 - Financial instruments

category

Note 10 - Trade and other receivables

Note 11 - Cash and cash equivalents

include the following for the purposes of the statement of cash flows

Note 13 – Borrowings

The parent company has the following loan agreements as of 31 December 2022:

Working capital and facility agreement

Uno-X Mobility AS and DNB entered into a credit and corporate account agreement in 2010 with collateral in subsidiaries, receivables and inventories, the latter limited to Norwegian subsidiaries only. The agreement includes an overdraft facility of NOK 1‚400 million, limited to a percentage of the group’s outstanding receivables and the Norwegian companies’ inventories. The parent company is the owner of the facility. The group’s net deposits (borrowings) are presented in the parent company’s accounts. Unused credit facilities are at floating rates and matur e within a year.

Subsidiaries’ deposits (drawing) is presented as deposits (receivables) for the parent company.

All subsidiaries are members of the credit and corporate account agreement, and have provided an on-demand guarentee as collateral for Uno-X Mobilty AS and its obligations according to the working capital facility agreement.

The following financial covenants apply to the credit facility in Uno-X Mobility:

As of 31 December 2022 Uno-X Mobility has unused credit facilities of NOK 434 million (NOK 719 million as of 31 December 2021). See note 13 for more information about borrowings.

Note 12 - Share capital, premium and shareholders

Carrying amount of assets held at collateral for debt at 31 December

Accountable entities that prepare separate financial statements according to the regulations of the Accounting Act paragraph 3–9 may, without prejudice to other provisions in these regulations, enter dividends and group contributions in accordance with oth er provisions of the Act. This means that any dividends and group contributions given or received by the parent company must be entered in the accounts the year before the decision to give or receive such dividend or group contribution is made. This also applies to any tax effects relating to such transactions.

The exposure of the group's borrowings to interest rate changes and the contractual re-pricing dates at the end of the reporting period are as follows:

The carrying amounts of the group's borrowings are in the following currencies

Note 14 - Trade and other payables

- Related parties

Shareholders

Uno-X Mobility AS ia a 100 percent owned subsidiary of Reitan Retail AS, se note 12 – Share capital, premium and shareholders. Reitan Retail AS is a 100 percent subsidiary of REITAN AS. REITAN AS is 100 percent owned by the Reitan family through three holding companies. Reitan Retail AS also owns shares of other companies. Uno-X Mobility AS has office location in Oslo, Norway.

Related parties

Uno-X Mobility AS has direct and indirect ownership in 24 companies. The subsidiaries of Uno-X Mobility AS are presented in Note 8 - Investment in subsidiaries. Associated companies of Uno-X Mobility AS are shown in Note 8 – Associated companies.

Purchase and sales of goods and services

All transactions with related parties are made on an arm's-length basis.

Loans to subsidiaries

Uno-X Mobility AS has provided loans to subsidiaries. The interest rate is determined by Uno-X Mobility AS’s average borrowing rate for loans with similar risk.

Current receivables

Uno-X Mobility AS prepares its financial statements according to the regulations of the Accounting Act, paragraph 3 –9 and may, without prejudice to other provisions in these regulations, enter dividends and group contributions in accordance with other provisions of the Act. The proposed dividends from subsidiaries recognised by the parent company as of 31 December are pending approval by the General Assemblies, and are class ified as current receivables until such approval is granted. As of 31 December 2022 the amount recognised is NOK 554 million (NOK 655 million as of 31 December 2021).

Current receivables are related to claims arising from the purchase and sale of goods and services as well as accrued interes t on the loan. The receivables are unsecured and non-interest bearing.

The parent company has not made any provisions for losses on current receivables from related parties as of 31 December 202 2 or 31 December 2021, nor have any such losses been realised in 2022 or 2021

Group contribition

Current receivables, REITAN and current liabilities, REITAN is retated to group contributions. Uno -X Mobility AS makes a group contribution with tax effect of NOK 235 mill. to Reitan Retail AS. Uno-X Mobility AS also receives a group contribution without tax effect of NOK 183 mill. from Reitan Retail AS.

Current liabilities are related to the purchase and sale of goods and services, and accrued interest on the loan.

The parent has the following transactions with its owners

Definition of Key Figures and Alternative Performance Measures

Excise duties

- A number of the products sold by our companies are subject to excise duties. These duties accrue when products are taken from our main inventories, and thus it is our supply and storage companies (Uno-X Forsyning (NO) and YX Danmark) that collects the duties from our customers, both internal customers in Uno-X Mobility and external customers. Excise duties that apply to our companies are lubricant duties, petrol and diesel duties, basic duties (grunnavgift), CO2 duties on all gas oil products, sulphur duties on some of our products, and bio-duties on products with bio-elements

FIFO effect

- The FIFO effect is a calculated effect, reflecting realised gain (loss) on oil products sold during the period. The calculated effect reflects the difference between the current cost on the day the product is sold (which is the basis for the day-to-day price in the market), and its historical cost. On average, oil products are sold about 20–30 days after they are purchased.

Value academy

As an employee of a REITAN company, one is obliged to familiarise oneself with the REITAN philosophy and adhere to it in one’s daily behavior.

Partner

Promoting

with cross-country skier

Johannes Høsflot Klæbo

development and performance while maintaining strong values and a mindset for good mental and physical health.

Photo: Wordup Projects

Adresses

Uno-X Mobility

VEGAR KULSET

CEO

Gladengveien 2, N-0661 Oslo, NORWAY unoxmobility.com

Uno-X Danmark

ELO ANDERSEN

Managing Director

Buddingevej 195, DK- 2860 Søborg unox.dk

YX Danmark

ELO ANDERSEN

Managing Director

Buddingevej 195, DK-2860 Søborg yx.dk

YX Smøreolie

ELO ANDERSEN

Managing Director

Buddingevej 195, DK- 2860 Søborg yxlube.dk

Uno-X eMobility

OLE JOHANNES TØNNESSEN

Managing Director

Buddingevej 195, DK- 2860 Søborg www.unox.dk/el

Uno-X Norge

JENS HAUGLAND

Managing Director

Gladengveien 2, N-0661 Oslo unox.no

YX Norge

THOR KRISTIAN KORSVOLD

Managing Director

Gladengveien 2, N-0661 Oslo yx.no

YX Smøreolje

ELO ANDERSEN

Managing Director

Gladengveien 2, N-0661 Oslo olje.yx.no

Uno-X eMobility

OLE JOHANNES TØNNESSEN

Managing Director

Gladengveien 2, N-0661 Oslo unox.no/lading

Uno-X Forsyning

ALEXANDRE GUINDOS

Managing Director

Gladengveien 2, N-0661 Oslo unoxforsyning.no

Auditor’s Report

INDEPENDENT AUDITOR'S REPORT

To the Annual Shareholders' Meeting of Uno-X Mobility AS Opinion

We have audited the financial statements of Uno-X Mobility AS (the Company), which comprise the financial statements of the Company and the consolidated financial statements of the Company and its subsidiaries (the Group). The financial statements of the Company and the Group comprise the balance sheet as at 31 December 2022, the income statement, statement of comprehensive income, statement of cash flows and statement of changes in equity for the year then ended, and notes to the financial statements, including a summary of significant accounting policies.

In our opinion the financial statements comply with applicable legal requirements and give a true and fair view of the financial position of the Company and the Group as at 31 December 2022 and their financial performance and cash flows for the year then ended in accordance with International Financial Reporting Standards as adopted by the EU.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Company and the Group in accordance with the requirements of the relevant laws and regulations in Norway and the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (including International Independence Standards) (IESBA Code), and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Other information

Other information consists of the information included in the annual report other than the financial statements and our auditor’s report thereon. Management (the board of directors and the CEO) is responsible for the other information. Our opinion on the financial statements does not cover the other information, and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information, and, in doing so, consider whether the board of directors’ report contains the information required by legal requirements and whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information or that the information required by legal requirements is not included, we are required to report that fact.

We have nothing to report in this regard, and in our opinion, the board o f directors’ report is consistent with the financial statements and contains the information required by applicable legal requirements.

Responsibilities of management for the financial statements

Management is responsible for the preparation and fair presentation of the financial statements in accordance with International Financial Reporting Standards as adopted by the EU, and for such internal

control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is responsible for assessing the Company’s and the Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or the Group, or to cease operations, or has no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Compa ny’s and the Group’s internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of management’s use of the going conc ern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s and the Group’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company and the Group to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.

We communicate with the board of directors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Oslo, 14.04.2023 ERNST & YOUNG AS

The auditor's report is signed electronically

Finn Espen Sellæg State Authorised Public Accountant (Norway)

Appendix

To collect data on employee statistics, Uno-X Mobility follows a set template developed by Reitan Retail, taking both FTE and number of employees into account. The data is collected and reported to Reitan Retail yearly by 31st December.

Verification:

Uno-X Mobility Greenhouse Gas Emissions data (Scope 1, 2 and 3) is verified by DNV, as part of Reitan Retails GHG emissions data. The data has been verified according to requirements set out by the Greenhouse Gas Protocol. Uno-X Mobility’s relationship with DNV regarding the carbon accounting is strictly related to verification, as this is considered best practise and mitigates any risk of conflicting interests. No other parts of our non-financial data have been verified by a third party, and we currently do not have any plans of implementing this as a practice.

*Uno-X Pro Cycling special insurance arrangements for cyclist is in place. **Uno-X Konceptdesign data is not available.

*Increased number of employees from 2021 to 2022 due to acquisition of Uno-X Konceptdesign A/S.

BOARD MEMBERS BY GENDER

EMPLOYEES BY TYPE 2022 2021

*) 31 of total 39 work at Uno-X Konceptdesign A/S a company acquired in November 2022. 8 workers are part-time or ad-hoc in other companies such as part-time working students.

PARENTAL LEAVE 2022

ENTITLED TO PARENTAL LEAVE ON PARENTAL LEAVE RETURNED TO WORK

ENTITLED TO PARENTAL LEAVE ON PARENTAL LEAVE RETURNED TO WORK

*Uno-X Konceptdesign and cyclist not included

*Uno-X Konceptdesign and cyclist not included