Robert Bosch A/S

Management's reviewFinancial reviewThe income statement for 2022 shows a gain of DKK 758 thousand against a loss of DKK 2,287thousand last year, and the balance sheet at 31 December 2022 shows equity of DKK 61,512thousand.The new building expected to be completed in the last quarter of 2025.Profit on ordinary activities amounted to DKK 19,477 thousand compared to DKK -2,688 thousand in2021The development in revenue increased slightly as expected and announced in the 2021 annual report. Theexpected profit before tax was as expected in the level of DKK 14-16 million. The company was selectedby the tax authorities to be included in Transfer Pricing turnus of audits as one of the big 500 companiesin Denmark. We have an ongoing Transfer Pricing audit for the years 2017-2020, open 2021 and 2022expect to be audited in fall 2023. We have in the result estimated extra tax payment plus interest of DKK12.5 million.

Business reviewRobert Bosch A/S is a subsidiary of Robert Bosch GmbH, the world's largest supplier to the automobileindustry which is the core segment of the group. The group also operates within the segmentsAutomotive Aftermarket, Power Tools and Thermotechnology which are marketed and sold inDenmark by Robert Bosch A/S.