On 29 February 2024, UIE Plc. ("UIE") announced its Annual Report 2023.

In 2023, UIE's net result was USD 120.6 million compared to a net loss of USD 22.1 million in 2022, reflecting another record-high result from UP as well as a significant fair value increase of the Schörling investment.

UIE's Business Reporting Highlights 2023:

• UIE's share of UP's result increased by 13% to USD 74.3 million in 2023
• UP reported a record-high net profit of MYR 711.0 million due to higher production volumes of CPO and PK as well as higher selling prices of CPO
• In local currency, UP's result increased by 17%. However, when measured in USD, the increase was only 13% due to a weaker MYR in 2023

• The fair value of UIE's investment in Schörling amounted to USD 225.5 million at the end of 2023 - an increase of USD 35.7 million, or 19%, since year-end 2022. In addition, UIE received USD 0.8 million in dividends from Schörling in 2023
• The increase in fair value can be attributed to strong operational performance paired with a favourable year for the global equity markets with each of Schörling's listed investments achieving a double-digit percentage increase in share price. The fair value was further positively impacted by a strengthening of the SEK

• The fair value of UIE's investment in Greenbridge amounted to USD 48.6 million at the end of 2023. This corresponds to an increase of 5.3 million, or 12%, since year-end 2022
• The increase in fair value is due to valuation parameters affected positively by the general equity markets as well as a continued growth within the portfolio companies

• Other Items generated a net gain of USD 5.4 million, mainly representing gains deriving from the liquidity reserves invested in a diversified and liquid portfolio of equities, bonds and Government Securities

For more information, please download the full Annual Report 2023 or visit UIE's website (http://www.uie.dk).