Viridien : 2026 Q1 Quarterly Report (viridien quarterly report Q1 2026)

About this update from Viridien

27, avenue Carnot 91300 Massy France Condensed Interim Financial Report First quarter 2026 Results March 31, 2026 TABLE OF CONTENTS OPERATING AND FINANCIEL REVIEW 3 2026 1Q OPERATING RESULTS 3 CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS 10 CONDENSED INTERIM CONSOLIDATED STATEMENT OF OPERATIONS 10 CONDENSED INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS) 11 CONDENSED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION 12 CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS 13 CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY 15 NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS 16 ‌OPERATING AND FINANCIEL REVIEW 2026 1Q OPERATING RESULTS ‌ PARIS, France – March 31, 2025 – VIRIDIEN (ISIN: FR001400PVN6), a world leader in Geoscience , announced today its first quarter 2026 results. Sophie Zurquiyah, Chair and Chief Executive Officer of VIRIDIEN, commented: Sophie Zurquiyah, Chair and CEO of Viridien: “As expected, we experienced a softer start to the year, reflecting increased caution from E&Ps in recent months. The situation in the Middle East added further volatility, with some deliveries in the region postponed at Sensing & Monitoring, as well as delayed project sanctioning at Geoscience. In this context, we delivered solid cash generation, underscoring the strength of our asset-light model and disciplined cash management. We also continued to deleverage, allocating an additional $41m to bond repayment, reducing net debt to around $700m. We reiterate our Net Cash Flow objective for the full year 2026, with performance expected to be more weighted towards the second half as in 2025.” Results of operations Financial information is presented under IFRS standards, some sections of this report contain non-IFRS financial measures such as EBITDAs and Net Cash Flow which are fully described in the glossary of the 2025 annual consolidated financial statements. This operating and financial review and prospects should be read in conjunction with our consolidated interim financial state ments and the notes thereto. Our significant accounting policies are fully described in note 1 of our 2025 consolidated annual financial statements. Statement of income Q1 - Three months ended March 31, 2026 2025 % Change Segment Figures As Reported Segment Figures As Reported Segment Figures As Reported DDE Revenues 152.8 139.4 214.0 170.4 (29%) (18%) SMO Revenues 60.9 60.9 87.1 87.1 (30%) (30%) Eliminated revenues and others 0.0 0.0 0.0 0.0 - - Total Operating Revenues 213.7 200.3 301.1 257.6 (29%) (22%) DDE EBITDAs 87.8 74.4 135.7 92.1 (35%) (19%) SMO EBITDAs (5.1) (5.1) 14.0 14.0 (137%) (137%) Eliminations and Other (6.1) (6.1) (7.2) (7.2) (15%) (15%) EBITDAs 76.5 63.1 142.5 98.9 (46%) (36%) EBITDAs margin % 36% 32% 47% 38% Earth Data surveys amortization & impairment (36.1) (25.6) (59.0) (24.3) (39%) 5% Depreciation and amortization (excl. Earth Data surveys) (20.7) (20.7) (21.2) (21.2) (2%) (2%) Depreciation and amortization capitalized to Earth Data surveys 4.9 4.9 4.2 4.2 17% 17% Share-based compensation expenses (1.9) (1.9) (1.1) (1.1) 72% 72% Operating income 22.7 19.7 65.3 56.4 (65%) (65%) Operating income margin % 11% 10% 22% 22% Net income (loss) from equity affiliates 0.0 0.0 (0.2) (0.2) - - EBIT 22.7 19.7 65.1 56.2 (65%) (65%) Financial income and expenses (26.0) (26.0) (72.0) (72.0) (64%) (64%) Income taxes (3.4) (3.4) (12.9) (12.9) (74%) (74%) Net income from continuing operations (6.7) (9.7) (19.8) (28.6) - - Net income from discontinuing operations (0.1) (0.1) 0.7 0.7 - - Minority Interest 0.7 0.7 0.2 0.2 307% 307% Net income (6.2) (9.1) (19.0) (27.8) - - (In millions of US$) IFRS15 adjustment impact Q1 - Three months ended March 31, 2026 2025 Segment figures IFRS 15 adjustment As reported Segment figures IFRS 15 adjustment As reported Revenue 213.7 (13.4) 200.3 301.1 (43.6) 257.6 of which Earth Data Prefunding revenue 24.9 (13.4) 11.4 45.0 (43.6) 1.4 Operating expenses (191.0) 10.5 (180.6) (235.9) 34.7 (201.2) of which Earth Data surveys amortization (36.1) 10.5 (25.6) (59.0) 42.2 (16.8) Operating income 22.7 (3.0) 19.7 65.3 (8.9) 56.4 Net income (6.2) (3.0) (9.1) (19.0) (8.8) (27.8) (In millions of US$) For internal reporting purposes VIRIDIEN's management continues to apply the pre-IFRS 15 revenue recognition principles, with Earth Data prefunding revenues recorded based on percentage of completion methods. Business segments highlights The Group continues to present its financial information under two reporting segments, Data, Digital & Energy Transition (DDE) and Sensing & Monitoring (SMO) as described in Note 19 to our 2025 consolidated annual financial statements. Data, Digital & Energy Transition (DDE) Q1 - Three months ended March 31, 2026 2025 % Change (In millions of US$) Segment figures As reported Segment figures As reported Segment figures As reported Geoscience 98.4 98.4 110.2 110.2 (11%) (11%) Earth Data 54.5 41.0 103.8 60.3 (48%) (32%) DDE Revenue 152.8 139.4 214.0 170.4 (29%) (18%) DDE EBITDAs 87.8 74.4 135.7 92.1 (35%) (19%) DDE EBITDAs margin % 57% 53% 63% 54% DDE OPINC 40.9 37.9 64.8 56.0 (37%) (32%) DDE OPINC margin % 27% 27% 30% 33% Geoscience (GEO) Geoscience operating revenues as reported were down 11% year-on-year to US$98 million in Q1 2026 compared to US$110 million in 2025 due to lower project sanctioning levels by clients in recent months, as well as some delayed project start-ups following the escalation of the conflict in the Middle East. Earth-Data (EDA) Earth Data operating revenues as reported were down 47% to US$41 million in Q1 2026 from US$60 million in Q1 2025. Excluding IFRS 15 adjustments EDA business was down 48% to US$54 million. EDA Cash EBITDA Q1 2026 at US$15 million decrease from US$39 million in Q1 2025. The table below presents a reconciliation of EDA adjusted Segment EBITDAs with the Cash EBITDA. EDA cash EBITDA is defined in the glossary of our 2025 consolidated annual financial statements as Adjusted segment EBITDAs less investment in Earth Data surveys for the period and less inactivity compensation fees related to the Capacity Agreement between Viridien and Shearwater. Q1 - Three months ended March 31, 39.3 79.5 (24.6) (52.4) 0.0 12.0 14.7 39.0 In millions of US$ 2026 2025 Segment adjusted EBITDA Investments in Earth Data surveys Adjustment of inactivity compensations fees related to the Capacity Agreement between Viridien and Shearwater EDA CASH EBITDA Q1 key headlines – Data, Digital & Energy (DDE) Viridien launches major multi-client reimaging program in Malaysia. | Jan 7, 2026 Viridien launches integrated multi-client data project offshore Malta. | Jan 13, 2026 Viridien and SLB announce agreement with EGAS for large multi-client OBN program over Eastern Mediterranean Offshore. | Jan 22, 2026 Viridien announces strategic initiative to advance HPC for seismic imaging workflows with NVIDIA. | Feb 18, 2026 Viridien announces Charrua 3D seismic survey offshore Uruguay. | Mar 5, 2026 Viridien advances exploration for India’s offshore basins, starting with launch of Phase 1 Mahanadi Basin Reimaging. | Mar 10, 2026 Viridien and BGP announce agreement with government of Guyana for multi-client 3D seismic program over shallow water acreage. Mar 11, 2026 Sensing & Monitoring (SMO) Q1 - Three months ended March 31, (In millions of US$) 2026 2025 % Change SMO Revenue 60.9 87.1 (30%) SMO EBITDAs (5.1) 14.0 (137%) SMO EBITDAs margin % (8%) 16% SMO OPINC (11.0) 8.4 - SMO OPINC margin % (18%) 10% SMO operating revenue was down 30% year-on-year to US$61 million in Q1 2026 in comparison to $87 million in 2025. Activity remains largely driven by the Land segment, with a mix of flagship high-productivity surveys ongoing in North America and medium-to-small crews ensuring business resilience across South America, the Middle East, and Asia. The Marine segment remains largely subdued in Q1 2026. Land equipment sales represented 50% of SMO revenue, compared to 58% in Q1 2025, down 8bps year-on-year. Land equipment sales of US$30 million in Q1 2026 were down from US$51 million in 2025. Marine equipment sales represented 31% of SMO revenue, compared to 29% in Q1 2025, up 2bps year-on-year. Marine equipment sales of US$19 million in Q1 2026 were down from US$25 million in 2025. Beyond the Core revenues were at US$12 million, up 6% year-on-year. Q1 key headlines – Sensing & Monitoring (SMO) Viridien announces new Global Tailings Monitoring Service to deliver more comprehensive, automated safety intelligence to the mining industry. | Mar 24, 2026 Net financial income and expenses Net financial income and expenses amounted to a US$26 million expense in Q1 2026, down from US$76 million in Q1 2025. This decrease is mainly due to the refinancing expenses of our bonds in 2025. Liquidity and Capital Resources Cash flow statement Net Cash flow from continuing operations was a US$26 million inflows in Q1 2026 from a US$20 million outflows in 2025. Net Cash flow from discontinued operations represented a $0M outflow compared to the $0M outflow last year. (In millions of US$) Segment figures As reported Segment figures As reported EBITDAs 76.5 63.1 142.5 98.9 Income Tax Paid (7.7) (7.7) (4.0) (4.0) Change in working capital & Provisions 11.5 24.9 (46.6) (3.0) Other items calculated 0.3 0.3 (1.3) (1.3) Net cash flow provided by operating activities 80.6 80.6 90.5 90.5 Investments in Earth Data surveys (24.6) (24.6) (52.4) (52.4) Industrial capital expenditures & Capitalized development costs (excl. Earth Data surveys) (15.7) (15.7) (8.8) (8.8) Total Capex (40.3) (40.3) (61.2) (61.2) Net proceeds and acquisitions 0.9 0.9 (0.0) (0.0) Dividends received from affiliates - - - - Variation in subsidies for capital expenditures - - - - Lease repayments (14.2) (14.2) (9.8) (9.8) Payments and/or proceeds net from asset financing transactions (0.0) (0.0) 0.0 0.0 Financial expenses paid (1.2) (1.2) (39.1) (39.1) Net cash flow incurred by continuing operations 25.8 25.8 (19.6) (19.6) Net cash flows incurred by discontinued operations (0.1) (0.1) (0.3) (0.3) Net cash flow 25.6 25.6 (19.9) (19.9) Q1 - Three months ended March 31, 2026 2025 The Net Cash Flow indicator presented in this interim financial report is not a standardized IFRS measure. It is provided as additional information to facilitate understanding of the Group’s financial performance and may differ from similarly titled measures used by other companies. Financial debt (In millions of US$) March 31, 2026 December 31, 2025 Bank overdrafts - 0.0 Gross financial debt – Current (a) 42.2 38.5 Gross financial debt - Non-current 959.8 1 004.8 Less cash and cash equivalents (155.2) (173.0) NET FINANCIAL DEBT (a) 846.8 870.2 As from Q1 2026 Gross and Net financial debt excludes accrued interests Liquidity Group Liquidity of US$273 million on March 31, 2026, includes US$173 million of cash and US$100 million of undrawn RCF (US$125 million o/w US$25 million ancillary guarantee facility). ‌CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS ‌Condensed Interim Consolidated statement of operations Three months ended March 31, (In millions of US$, except per share data) Notes 2026 2025 Operating revenues 9 200,3 257,5 Other income from ordinary activities 0,0 0,1 Total income from ordinary activities 200,3 257,6 Cost of operations (153,2) (171,0) Gross profit 47,1 86,6 Research and development expenses - net (2,0) (4,0) Marketing and selling expenses (7,6) (7,7) General and administrative expenses (18,3) (18,1) Other revenues (expenses) - net 10 0,6 (0,3) Operating income (loss) 9 19,7 56,4 Cost of financial debt - gross (26,5) (27,4) Income provided by cash and cash equivalents 1,2 1,6 Cost of financial debt, net (25,3) (25,8) Other financial income (loss) 11 (0,7) (46,2) Income (loss) before incomes taxes and share of income (loss) from companies accounted for under the equity method (6,3) (15,5) Income taxes (3,4) (12,9) Net income (loss) before share of income (loss) from companies accounted for under the equity method (9,7) (28,4) Net income (loss) from companies accounted for under the equity method 0,0 (0,2) Net income (loss) from continuing operations (9,7) (28,6) Net income (loss) from discontinued operations 3 (0,1) 0,7 Consolidated net income (loss) (9,8) (28,0) Attributable to : Owners of Viridien S.A $ (9,1) (27,8) Non-controlling interests $ (0,7) (0,2) Net income (loss) per share Basic $ (1,27) (3,88) Diluted $ (1,27) (3,88) Net income (loss) from continuing operations per share Basic $ (1,26) (3,97) Diluted $ (1,26) (3,97) Net income (loss) from discontinued operations per share (a) Basic $ (0,01) 0,09 Diluted $ (0,01) 0,09 See the notes to the Condensed Interim Consolidated Financial Statements. ‌Condensed Interim Consolidated statement of comprehensive income (loss) Three months ended March 31, (In millions of US$) Notes 2026 (a) 2025 (a) Net income (loss) from statements of operations (9,8) (28,0) Other comprehensive income to be reclassified in profit (loss) in subsequent period: Net gain (loss) on cash flow hedges (0,4) (0,3) Variation in translation adjustments (0,4) 9,9 Net other comprehensive income (loss) to be reclassified in profit (loss) in subsequent period (1) (0,8) 9,6 Other comprehensive income not to be classified in profit (loss) in subsequent period: Variation in translation adjustments generated by the parent company (b) 8,0 (17,7) Net gain (loss) on actuarial changes on pension plan 0,2 (0,5) Net other comprehensive income (loss) not to be reclassified in profit (loss) in subsequent period (2) 8,2 (18,2) Total other comprehensive income (loss) for the period. net of taxes (1) + (2) 7,4 (8,6) Total comprehensive income (loss) for the period (2,4) (36,6) Attributable to : Owners of Viridien S.A. (2,4) (36,5) Non-controlling interests 0,0 (0,1) Including other comprehensive income related to the discontinued operations. Foreign exchange differences relating to the parent company, which were previously included in “Other changes in equity”, are now presented within “Non-recyclable OCI”. ‌Condensed Interim Consolidated statement of financial position (In millions of US$) Notes March 31, 2026 December 31, 2025 ASSETS Cash and cash equivalents 155,2 173,0 Trade accounts and notes receivable, net 249,7 315,0 Inventories and work-in-progress, net 159,5 164,3 Income tax assets 33,3 31,7 Other current assets, net 76,0 74,9 Assets held for sale, net 3 15,8 15,8 Total current assets 689,5 774,7 Deferred tax assets 46,9 43,4 Other non-current assets, net 10,0 10,0 Investments and other financial assets, net 30,0 30,3 Investments in companies under the equity method 0,1 0,1 Property, plant and equipment, net 4 239,1 227,4 Intangible assets, net 5 578,0 571,9 Goodwill, net 6 1 090,4 1 092,2 Total non-current assets 1 994,6 1 975,3 TOTAL ASSETS 2 684,1 2 750,0 LIABILITIES AND EQUITY Financial debt – current portion 7 78,6 56,2 Trade accounts and notes payables 56,7 66,5 Accrued payroll costs 79,7 97,5 Income taxes payable 20,4 22,3 Advance billings to customers 20,9 17,9 Provisions — current portion 11,5 14,4 Other current financial liabilities 0,0 0,0 Other current liabilities 254,3 256,7 Liabilities associated with non-current assets held for sale 3 1,0 1,0 Total current liabilities 523,0 532,6 Deferred tax liabilities 10,2 9,1 Provisions — non-current portion 33,7 33,3 Financial debt – non-current portion 7 959,8 1 004,8 Other non-current financial liabilities 0,0 0,0 Other non-current liabilities 1,0 2,0 Total non-current liabilities 1 004,7 1 049,2 Common stock: 11,194,372 shares authorized and 7,189,314 shares with a nominal value of €1.00 outstanding at March 31, 2026. 8,8 8,8 Additional paid-in capital 119,5 119,1 Retained earnings 1 091,1 1 110,2 Treasury shares (20,1) (20,1) Cumulative income and expense recognized directly in equity (1,8) (1,4) Cumulative translation adjustment (79,0) (86,2) Equity attributable to owners of Viridien S.A. 1 118,5 1 130,4 Non-controlling interests 37,9 37,8 Total equity 1 156,4 1 168,3 TOTAL LIABILITIES AND EQUITY 2 684,1 2 750,0 See the notes to the Condensed Interim Consolidated Financial Statements. ‌Condensed Interim Consolidated statement of cash flows Three months ended March 31. (In millions of US$) Notes 2026 2025 OPERATING ACTIVITIES Consolidated net income (loss) (9,8) (28,0) Less: Net income (loss) from discontinued operations 3 0,1 (0,7) Net income (loss) from continuing operations (9,7) (28,6) Depreciation, amortization and impairment 9 20,7 21,2 Impairment and amortization of Earth Data surveys 9 25,6 24,3 Amortization and depreciation of Earth Data surveys, capitalized (4,9) (4,2) Variance on provisions (2,4) (0,7) Share-based compensation expenses 1,9 1,1 Net (gain) loss on disposal of fixed and financial assets 0,6 0,1 Share of (income) loss in companies recognized under equity method (0,0) 0,2 Other non-cash items 0,3 30,9 Net cash-flow including net cost of financial debt and income tax 32,2 44,3 Less : Cost of financial debt 25,3 25,8 Less : Income tax expense (gain) 3,4 12,9 Net cash-flow excluding net cost of financial debt and income tax 60,9 83,0 Income tax paid (7,7) (4,1) Net cash-flow before changes in working capital 53,2 78,9 Changes in working capital 27,4 11,6 - change in trade accounts and notes receivable 74,1 24,9 - change in inventories and work-in-progress 1,1 6,3 - change in other current assets (5,0) (0,2) - change in trade accounts and notes payable (10,9) (19,8) - change in other current liabilities (32,0) 0,0 Net cash-flow from operating activities 80,6 90,5 INVESTING ACTIVITIES Total capital expenditures (tangible and intangible assets) net of variation of fixed assets suppliers and excluding Earth Data surveys 4 (15,7) (8,8) Investments in Earth Data surveys 5 (24,6) (52,4) Proceeds from disposals of tangible and intangible assets 0,9 0,0 Variation in other non-current financial assets 2,1 2,3 Net cash-flow from investing activities (37,2) (58,9) Three months ended March 31. (In millions of US$) Notes 2026 2025 FINANCING ACTIVITIES Repayment of long-term debt 7 (41,6) (1 074,2) Total issuance of long-term debt 7 - 964,2 Call premium (1,2) (21,9) Refinancing transaction costs paid - (11,7) Lease repayments 7 (14,2) (9,8) Interests paid 7 (1,2) (38,8) Net proceeds from capital increase: — to owners of Viridien 0,4 - — to non-controlling interests of integrated companies - - Net cash-flow from financing activities (57,9) (192,2) Effects of exchange rates on cash 0,2 6,0 Impact of changes in consolidation scope (3,4) Net cash flows incurred by discontinued operations 3 (0,1) (0,3) Net increase (decrease) in cash and cash equivalents (17,8) (155,0) Cash and cash equivalents at beginning of year 173,0 301,7 Cash and cash equivalents at end of period 155,2 146,6 See the notes to the Condensed Interim Consolidated Financial Statements. ‌Condensed Interim Consolidated statements of changes in equity ⯈ Amounts in millions of Number of Shares issued Share capital Additional paid-in capital Retained earnings Other reserves Treasury shares Income and expense recognized directly in equity Cumulative translation adjustment (a) Equity attributable to owners of Viridien S.A. Non-controlling interests Total equity US$. except share data Balance at January 1, 2025 7,161,465 8.7 118.7 1,036.5 (20.1) (1.1) (58.0) 1,084.7 38.1 1,122.9 Net gain (loss) on actuarial changes on pension plan (1) (0.5) (0.5) (0.5) Net gain (loss) on cash flow hedges (2) (0.3) (0.3) (0.3) Net gain (loss) on translation - - - - - - (7.8) (7.8) 0.0 (7.8) Other comprehensive income - - - (0.5) - - (0.3) (7.8) (8.7) 0.0 (8.6) Net income (loss) (4) (27.8) (27.8) (0.2) (28.0) Comprehensive income (1)+(2)+(3)+(4) (28.4) (0.3) (7.8) (36.5) (0.1) (36.6) Dividends adjustments (3) (a) (1)+(2)+(3) Share-based payment - - 0.7 0.7 0.7 Changes in consolidation scope and other 0,2 0,2 0,2 Balance at March 31, 2025 7,161,465 8.7 118.7 1,009.0 (20.1) (1.4) (65.8) 1,049.2 38.0 1,087.2 (a) Foreign exchange differences relating to the parent company, which were previously included in “Other changes in equity”, are now presented within “Non recyclable OCI”. Amounts in millions of US$. except share data Number of Shares issued Share capital Additional paid-in capital Retained earnings Other reserves Treasury shares Income and expense Cumulative recognized translation directly in adjustment equity Equity attributable to owners of Viridien S.A. Non-controlling interests Total equity Balance at January 1, 2026 7,184,962 8.8 119.1 1,109.9 (20.1) (1.4) (85.9) 1,130.4 37.8 1,168.3 Net gain (loss) on actuarial changes on pension plan (1) 0.2 0.2 0.2 Net gain (loss) on cash flow hedges (2) (0.4) (0.4) (0.4) Net gain (loss) on translation - - - - - - 6.9 6.9 0.7 7.6 Other comprehensive income - - - 0.2 - - (0.4) 6.9 6.7 0.7 7.4 Net income (loss) (4) (9.1) (9.1) (0.7) (9.8) Comprehensive income (1)+(2)+(3)+(4) (8.9) (0.4) 6.9 (2.4) 0.0 (2.4) Dividends - - - Share based payment 4,352 0.0 0.4 1.0 1.4 1.4 Changes in consolidation scope and other (10,9) (10,9) (10,9) Balance at March 31, 2026 7,189,314 8.8 119.5 1,091.1 (20.1) (1.8) (79.0) 1,118.5 37.9 1,156.4 adjustments (3) (1)+(2)+(3) ‌Notes to the Condensed Interim Consolidated Financial Statements NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Viridien S.A. (“the Company”), along with its subsidiaries (together, the “Group”) is a global geoscience technology leader. Employing around 3 100 people worldwide, Viridien provides a comprehensive range of data, products, services and solutions in the fields of earth sciences, data science, sensing and monitoring. The Group's unique portfolio helps its clients to more efficiently and responsibly solve complex digital, energy transition, natural resources, environmental and infrastructure challenges. As the Company is listed in a European country, and pursuant to European regulation n°1606/2002 dated July 19, 2002, the accompanying Condensed Interim Consolidated Financial Statements ending March 31, 2026 have been prepared in accordance with IAS 34 Interim Financial Reporting, as issued by the International Accounting Standards Board (IASB) and as adopted by the European Union and in force at March 31, 2026. The Board of Directors has authorized these Condensed Interim Consolidated Financial Statements for issue on May 5, 2026. The Condensed Interim Consolidated Financial Statements are presented in U.S. dollars and have been prepared on a historical cost basis, except for certain financial assets and liabilities that have been measured at fair value. - Critical accounting policies The Condensed Interim Consolidated Financial Statements do not include all the information and disclosures required in the annual financial statements, and should be read in conjunction with the Group’s annual financial statements as of and for the year ended December 31, 2025 included in its Universal Registration Document for the year 2025 filed with the AMF on April 2, 2026. The accounting policies adopted in the preparation of the Condensed Interim Consolidated Financial Statements are consistent with those followed in the preparation of the Group’s annual financial statements for the year ended December 31, 2025. The following standards, amendments and interpretations are applicable from January 1, 2026: ⯈ Amendments to the Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7) (issued on 30 May 2024) ⯈ Contracts Referencing Nature-dependent Electricity -Amendments to IFRS 9 and IFRS 7 (issued on 18 December 2024) ⯈ Annual Improvements Volume 11 (issued on 18 July 2024) The Group is currently assessing the impact of the adoption of these new standards, amendments and interpretations on its Condensed Interim Consolidated Financial Statements, with no significant impact expected to date. A review of the amendments not yet adopted is currently underway with a view to measuring their potential impact on the consolidated financial statements. The impacts of the application of IFRS 18 on the presentation of the financial statements, effective January 1, 2027, are currently under assessment. At the date of issuance of these Condensed Interim Consolidated Financial Statements, no early application has been made of any standards, amendments or interpretations not yet adopted by the European Union. - Use of judgment and estimates The preparation of Condensed Interim Consolidated Financial Statements in accordance with IFRS requires management to make estimates, assumptions and judgments that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the interim consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates due to changes in economic conditions, changes in laws and regulations, changes in strategy and the inherent imprecision associated with the use of estimates. Key judgments and estimates used in the financial statements are summarized in the following table: Note Judgments and estimates Key assumptions Trajectory and recovery outlook of Exploration and Production Recoverable amount of goodwill and intangible assets Recoverable value of Earth Data surveys spending New businesses growth dynamic Discount rate (WACC) Expected sales for each survey Deferred tax assets Assumptions supporting the achievement of future taxable profits Note 7 Transaction costs related to the refinancing are deducted from the nominal amount of the new bonds Amortised cost Effective Interest Rate (EIR) method Note 9 Revenue recognition Estimated Geoscience contract completion rates Income tax liabilities – Uncertain tax positions Estimate of most likely tax amount Provisions for restructuring Assessment of future costs related to restructuring plans Notes 4 and 7 Discount rate IFRS 16 Assessment of incremental borrowing rate Recoverability of client receivables Assessment of clients’ credit default risk Note 4 and 5 Depreciation and amortization of tangible and intangible assets Useful life of assets Note 5 Development costs Assessment of future benefits of each project Discount rate Post-employment benefits Provisions for risks, claims and litigations Valuation of investments in companies accounted for under the equity method Enrollment rate in post-employment benefit plans Inflation rate Assessment of risks considering court rulings and attorney’s positions Estimated recoverable value Rounding Some figures in this document, including financial data, have been rounded. As a result, the totals shown in this document may not be the exact sum of the preceding figures. NOTE 2 SIGNIFICANT EVENTS Repayment of notes On March 26, in line with its commitment to prioritize the allocation of net cash flow to deleveraging, Viridien carried out partial repayments of its outstanding notes by exercising the option included in the relevant documentation allowing it to redeem up to 10% of the then-outstanding principal at a pre-established price of 103. This option, valid for any 12-month period from the issuance date (i.e., March 25, 2025), reset on March 25, 2026 for a new period running until March 24, 2027. An amount of US$40.7 million of the USD tranche has been repaid, bringing the remaining outstanding principal to approximately US$367 million as of the date of this report. NOTE 3 ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS Assets held for sale In 2024, Viridien entered in discussion with several potential buyers for Gauges business. The assets of this business, which is part of the SMO segment, have been classified as “assets held for sale” and the liabilities as “liabilities directly associated with assets held for sale”. As the Gauges business is not a major Viridien activity, it has not been presented as a discontinued operation in the consolidated profit and loss statements and cash flow statement (no retroactive presentation). In 2025, the US-based Gauges business was sold, generating proceeds of US$11.5 million. This partial exit explains the decrease in the net value of assets held for sale compared to December 31, 2024. No change since December 31, 2025. Disaggregation of assets and liabilities In millions of US$ March 31 2026 December 31 2025 Gauges Business [SMO] Other [SMO] Gauges Business [SMO] Other [SMO] Goodwill 5.0 - 5.0 - Intangible assets, net 1.4 - 1.4 - Property plant & equipment, net 0.8 2.0 0.8 2.0 Inventories and work-in-progress, net 5.5 - 5.5 - Trade accounts and notes receivable, net 1.1 - 1.1 - ASSETS HELD FOR SALE, NET 13.8 2.0 13.8 2.0 Trade accounts and notes payable (0.3) - (0.3) - Other current liabilities (0.7) - (0.7) - LIABILITIES DIRECTLY ASSOCIATED WITH THE ASSETS CLASSIFIED AS HELD FOR SALE (1.0) - (1.0) - ASSETS (LIABILITIES) HELD FOR SALE, NET 12.8 2.0 12.8 2.0 Net income (loss) from discontinued operations Three months ended March 31, (In millions of US$) 2026 2025 Operating revenues - - Operating expenses (0.2) 0.2 Other revenues (expenses) – net - - Operating income (0.2) 0.2 Other financial income (loss) - - Income taxes 0.1 0.5 Net income (loss) from companies accounted for under the equity method - - Net income (loss) from discontinued operations (0.1) 0.7 Net cash flows incurred by discontinued operations are as follows The following table presents the net cash flow from discontinued operations for each of the periods stated: Three months ended March 31, (In millions of US$) 2026 2025 Net cash flow from operating activities (0.1) 0.2 Net cash flow used in investing activities - - Net cash flow from financing activities - (0.5) Net cash-flow from discontinued operations (0.1) (0.3) NOTE 4 PROPERTY, PLANT AND EQUIPMENT (In millions of US$) March 31, 2026 December 31, 2025 Gross Accumulated depreciation Net Gross Accumulated depreciation Net Land 5.2 - 5.2 5.2 - 5.2 Buildings 146.4 (93.0) 53.4 147.6 (92.7) 55.0 Machinery & Equipment 239.4 (213.1) 26.3 245.5 (216.8) 28.7 Other tangible assets 102.9 (83.3) 19.7 95.6 (82.0) 13.6 Right-of-use assets 238.8 (104.3) 134.5 221.0 (96.1) 124.9 - Property 97.3 (41.9) 55.4 97.1 (41.0) 56.2 - Machinery & Equipment 141.5 (62.4) 79.1 123.8 (55.1) 68.7 TOTAL PROPERTY, PLANT and EQUIPMENT 732.8 (493.7) 239.1 715.0 (487.6) 227.4 Short-term leases and leases of low-value assets As allowed by IFRS 16, the Group decided to use exemptions for short-term leases ( Revenues from subleases The Group signed arrangements with third parties to sublease leased real estate assets. The income generated by these sublease agreements, which are classified as operating leases was not material on March 31, 2026, and on December 31, 2025. Variation over the period (In millions of US$) March 31, 2026 December 31, 2025 Balance at beginning of period 227.4 220.6 Acquisitions (a) 30.5 68.7 Depreciation (b) (16.4) (65.1) Disposals (0.4) (1.4) Translation adjustments (0.8) 5.3 Change in consolidation scope (1.1) 0.1 Reclassification of tangible assets as “Assets held for sale” (0.0) (2.0) Other (0.1) 1.4 BALANCE AT END OF PERIOD 239.1 227.4 Including US$ 20.9 million additional right-of use assets during the first three months of 2026 compared to US$ 48.2 million in 2025. Including US$ (10.9) million depreciations of right-of-use assets during the first three months of 2026 compared to US$ 43.2 million in 2025. Reconciliation of acquisitions with the consolidated statements of cash flows and capital expenditures Three months ended March 31, (In millions of US$) 2026 2025 Acquisitions of tangible assets, excluding leases 9.6 3.5 Capitalized development costs 6.0 4.3 Acquisitions of other intangible assets, excluding Earth Data surveys - 0.0 Change in fixed asset suppliers 0.0 1.1 TOTAL PURCHASES OF TANGIBLE AND INTANGIBLE ASSETS ACCORDING TO CASH FLOW STATEMENT (“CAPITAL EXPENDITURES”) 15.7 8.8 NOTE 5 INTANGIBLE ASSETS (In millions of US$) March 31, 2026 December 31, 2025 Gross Accumulated depreciation Net Gross Accumulated depreciation Net Multi-client surveys Marine 6,139.2 (5,639.9) 499.3 6,092.4 (5,598.3) 494.1 Development costs capitalized 441.3 (372.9) 68.3 438.5 (373.6) 65.0 Software 72.9 (71.6) 1.3 74.3 (72.8) 1.5 Customer relationships 176.8 (170.5) 6.3 176.9 (169.4) 7.5 Other intangible assets 200.2 (197.5) 2.8 205.3 (201.5) 3.8 Total intangible assets 7,030.4 (6,452.3) 578.0 6,987.5 (6,415.7) 571.9 Variation over the period (In millions of US$) March 31, 2026 December 31, 2025 Balance at beginning of period 571.9 535.4 Increase in multi-client surveys 29.5 183.0 Development costs capitalized 6.0 18.8 Other acquisitions - 0.9 Depreciation on multi-client surveys (25.6) (147.0) Other depreciation (4.3) (24.0) Disposals - (0.0) Change in exchange rates 0.5 6.0 Change in consolidation scope - (0.9) Reclassification of intangible assets as "Assets held for sale" 0.0 (0.3) Other - (0.0) Balance at end of period 578.0 571.9 Reconciliation of acquisitions with the consolidated statements of cash flows and capital expenditures Three months ended March 31, (In millions of US$) 2026 2025 Increase in multi-client surveys 29.5 56.6 Multi-client depreciations & amortizations capitalized (4.9) (4.2) Investment in multi-client surveys according to cash flow statement 24.6 52.4 NOTE 6 GOODWILL (In millions of US$) March 31, 2026 December 31, 2025 Balance at beginning of period 1,092.2 1,082.8 Additions - - Impairment - - Perimeter change - - Reclassification of goodwill as “Assets held for sale” - - Translation adjustments (1.8) 9.4 BALANCE AT END OF PERIOD 1,090.4 1,092.2 NOTE 7 FINANCIAL DEBT Financial debt as of March 31, 2026, was US$1,038.4 million compared to US$1,061.0 million as of December 31, 2025. The breakdown of our financial debt is as follows: (In millions of US$) March 31, 2026 December 31, 2025 Current Non-current Total Total 2030 Notes - 845.1 845.1 895.0 Bank loans and other loans 3.3 8.5 11.8 12.9 Lease liabilities 38.9 106.2 145.1 135.3 Gross financial debt (a) 42.2 959.8 1,002.0 1,043.2 Accrued interests 36.3 - 36.3 17.7 Financial debt 78.6 959.8 1,038.4 1,060.9 Bank overdrafts - - - 0.0 TOTAL 78.6 959.8 1,038.4 1,061.0 (In millions of US$) March 31, 2026 December 31, 2025 Bank overdrafts - 0.0 Gross financial debt – Current (a) 42.2 38.5 Gross financial debt - Non-current 959.8 1 004.8 Less cash and cash equivalents (155.2) (173.0) NET FINANCIAL DEBT (a) 846.8 870.2 As from Q1 2026 Gross and Net financial debt excludes accrued interests. Changes in liabilities arising from financing activities (In millions of US$) March 31, 2026 December 31, 2025 Balance at beginning of period 1,060.9 1,222.6 Decrease in long term debts (41.6) (1,200.4) Increase in long-term debts (a) - 955.5 Lease repayments (14.2) (54.7) Financial interests paid (1.2) (91.7) Total Cash flows (57.0) (391.3) Cost of financial debt. Net (excluding EIR impact) (c) 23.9 103.6 Impact of the EIR method on HYB 2030 (c) 1.4 3.7 Increase in lease liabilities 20.8 48.2 Gain and loss on bonds Buyback - (0.0) Translation adjustments (b) (c) (11.6) 74.8 Other - (0.5) BALANCE AT END OF PERIOD 1,038.4 1,060.9 In 2025, US$19.5 million of transaction costs, directly attributable to the new Notes, were deducted from the nominal amount, in accordance with IFRS9. Mainly EUR/USD exchange rate fluctuation on 2027 and 2030 Notes tranche EUR. The 2025 figures have been adjusted for better comparison of the impact of the EIR method. US$ 125 million Revolving Credit Facility (In millions of US$) Date Maturity Authorized amount Used amount Ancillary amount Available amount Revolving Credit Facility 2025 2030 125.0 - 25.0 100.0 On March 25, 2025, Viridien entered into a US$125 million Super Senior Revolving Credit Facility Agreement with a 5-year maturity secured by the same security package as the 2030 Notes. NOTE 8 CONTRACTUAL OBLIGATIONS. COMMITMENTS AND CONTINGENCIES Contractual obligations (In millions of US$) March 31, 2026 December 31, 2025 Long-term debt obligations 1,270.3 1,348.3 Lease obligations 184.1 174.5 Interest on lease obligations 56.7 66.5 TOTAL 1,511.0 1,589.3 The following table sets forth our future cash obligations (not discounted) on our contractual obligations and commitments as of March 31, 2026: Payments due by period (In millions of US$) Less than 1 year After 5 years 2-3 years 4-5 years Total Financial debt 3.3 6.9 861.2 - 871.5 Other long-term obligations (cash interests) 80.3 160.2 158.4 - 398.8 Total Long-term debt obligations 83.6 167.1 1,019.6 - 1,270.3 lease obligations 39.5 58.5 21.1 25.9 145.1 Interest in lease obligations 11.7 14.0 7.1 6.1 39.0 Total Lease repayment 51.2 72.6 28.2 32.1 184.1 Trade Accounts and Notes Payable 56.7 - - - 56.7 Total Contractual Obligations (a) 191.5 239.6 1,047.8 32.1 1,511.0 (a) Payments in other currencies are converted into US dollars on March 31, 2026, and exchange rates. NOTE 9 ANALYSIS BY OPERATING SEGMENT Segment presentation and discontinued operations Financial information by segment is reported in accordance with our internal reporting system and provides internal segment information that is used by the chief operating decision maker to manage and measure performance. The 2021 strategic roadmap announced in November 2018 aimed at implementing an asset light business model by reducing Viridien’s exposure to the contractual data acquisition business. As a result of the strategic announcements and actions undertaken subsequently, we presented our contractual data acquisition operations and the costs of implementation of the related measures, referred to as the Viridien 2021 Plan, in accordance with IFRS 5, as discontinued operations and assets held for sale. Data. Digital & Energy Transition (DDE) This operating segment comprises the Geoscience business lines (processing and imaging of geophysical data, reservoir characterization, geophysical consulting and geoscience software sales and services) and the Earth Data (ex multi-client) business line (development and management of a seismic and geological data library that we undertake and license to several clients on a non-exclusive basis). Both activities regularly combine their offerings, generating overall synergies between their respective activities. Beyond the core, Viridien is leveraging on its technologies and expertise to address the fast-growing markets of Digital Sciences and Energy Transition. In Digital Sciences, we focused on our long-standing leadership in digital technology, especially as applied to geoscience, to develop an integrated expert solution including the hardware platform, middleware and software services that are required to cost effectively support advanced cloud-based High-Performance Computing (HPC) workflows and data transformation services. In this platform, we notably propose data, algorithms and software as a service (DaaS/SaaS) on our Viridien cloud. In Energy Transition, we propose services and technologies dedicated to Carbon Capture Utilization and Storage (CCUS), Geothermal, Environmental and Minerals and Mining, CCUS, which represents a substantial submarket, is one of the key enablers to reduce carbon footprint. Many energy companies are planning significant CCUS projects and increasingly incorporate this technology in their development. Low carbon energy, such as hydrogen, will also require long term storage and monitoring. To be successful, these new businesses require a detailed understanding of the subsurface domain where Viridien excels, through its advanced geoscience and digital science technologies and its global earth data library. Sensing & Monitoring (SMO) This operating segment comprises manufacturing and sales activities for land, marine and OBN geophysical equipment used for data seismic acquisition. Additionally, its unique portfolio of industry leading sensor technology allows to bring the benefits of its advanced sensor technology to the fast-growing Monitoring and Observation market, from structural health monitoring (SHM) to monitoring solutions for energy transition (CCUS notably) and environment. The SMO segment carries out its activities through our subsidiary Sercel. Internal reporting and segment presentation Before the implementation of IFRS 15, the Group applied the percentage of completion method for recognizing Earth Data prefunding revenues. Following the implementation of IFRS 15, the Group recognizes Earth Data prefunding revenues upon delivery of processed data (when performance obligation is fulfilled). Although IFRS fairly presents the Group’s statement of financial position, for internal reporting purposes Viridien's management continues to apply the pre-IFRS 15 revenue recognition principles, with Earth Data prefunding revenues recorded based on percentage of completion. Viridien's management believes this method aligns revenues closely with the activities and resources used to generate it and provides useful information as to the progress made on Earth Data surveys, while also allowing for useful comparison across time periods. Viridien therefore presents the Group’s results of operations in two ways: the “Reported” or “IFRS” figures, prepared in accordance with IFRS, with Earth Data prefunding revenues recognized upon delivery of the data (when performance obligation is fulfilled); and the “Segment” figures, for purposes of internal management reporting, prepared in accordance with the Group’s previous method for recognizing Earth Data prefunding revenues. Other companies may present segment and related measures differently than we do. Segment figures are not a measure of financial performance under IFRS and should not be considered as indicators of our operating performance or an alternative to other measures of performance in accordance with IFRS. Alternative performance measures As a complement to Operating Income, EBIT may be used by management as a performance measure for segments because it captures the contribution to our results of the significant businesses that are managed through our joint ventures. We define EBIT as Operating Income plus our share of income in companies accounted for under the equity method. We define EBITDAs as earnings before interest, tax, income from equity affiliates, depreciation, amortization net of amortization expense capitalized to Earth Data, and cost of share-based compensation. Share-based compensation includes both stock options and shares issued under our share allocation plans. EBITDAs is presented as additional information because we understand that it is a measure used by certain investors to determine our operating cash flow and historical ability to meet debt service and capital expenditure requirements. Inter-segment transactions are made at arm’s length prices. They relate primarily to geophysical equipment sales made by the SMO segment to the Contractual Data Acquisition business lines and only include intra-segment sales between the business sectors, rather than all intra-group sales. These inter-segment revenues and the related earnings are eliminated in consolidation in the tables that follow under the column “Eliminations and other”. Operating Income, EBITDAs and EBIT may include non-recurring or restructuring items. General corporate expenses, which include Group management, financing, and legal activities, have been included in the column “Eliminations and other” in the tables that follow. The Group does not disclose financial expenses or financial revenues by segment because they are managed at the Group level. Identifiable assets are those used in the operations of each segment. The group does not track its assets based on the country of origin. Capital employed is defined as "total assets" excluding “Cash and cash equivalents” less (i) “Current liabilities” excluding “Bank overdrafts” and “Current portion of financial debt” and (ii) noncurrent liabilities excluding “Financial debt”. Analysis by segment (continuing operations) Q1 - Three months ended March 31, 2026 Amounts in million of US$. Except forassets and capital employed. (in billion of US$) DDE SMO Eliminations & other Segment figures IFRS 15 adjustments Consolidated Total As reported Revenues from unaffiliated customers 152.8 60.9 0.0 213.7 (13.4) 200.3 Inter-segment revenues (0.1) 0.0 0.0 (0.1) 0.0 (0.1) Operating revenues 152.7 60.9 0.0 213.6 (13.4) 200.1 Depreciation and amortization (excluding Earth Data surveys) (14.8) (5.6) (0.4) (20.7) 0.0 (20.7) Depreciation and amortization of Earth Data surveys (36.1) - - (36.1) 10.5 (25.6) Operating income (a) 40.9 (11.0) (7.2) 22.7 (3.0) 19.7 EBITDAs 87.8 (5.1) (6.1) 76.5 (13.4) 63.1 Share of income in companies accounted for under the equity method 0.0 0.0 0.0 0.0 0.0 0.0 Earnings Before Interest and Tax (a) 40.9 (11.0) (7.2) 22.7 (3.0) 19.7 Capital expenditures (excluding Earth Data surveys) (b) 10.2 5.4 (0.0) 15.7 (0.0) 15.7 Investments in Earth Data surveys. Net cash 24.6 - - 24.6 0.0 24.6 Capital employed (c) 1.6 0.4 0.0 2.0 0.0 2.0 Total identifiable assets (c) 2.0 0.5 0.0 2.5 0.0 2.5 “Eliminations and other” corresponded mainly to general corporate expenses Capital expenditures included capitalized development costs of US$(6.0) million for the three months ended March 31, 2026. “Eliminations and other” corresponded to the variance of suppliers of assets for the three months ended March 31, 2026. Capital employed and identifiable assets related to discontinued operations are included under the column “Eliminations and other”. Q1 - Three months ended March 31, 2025 Amounts in million of US$. Except forassets and capital employed. (in billion of US$) DDE SMO Eliminations & other Segment figures IFRS 15 adjustments Consolidated Total As reported Revenues from unaffiliated customers 214.0 87.0 0.0 301.1 (43.6) 257.5 Inter-segment revenues (0.0) 2.6 (2.6) (0.0) 0.0 (0.0) Operating revenues 214.0 89.6 (2.5) 301.1 (43.6) 257.5 Depreciation and amortization (excluding Earth Data surveys) (16.1) (5.4) 0.2 (21.2) 0.0 (21.2) Depreciation and amortization of Earth Data surveys (59.0) - - (59.0) 34.7 (24.3) Operating income (a) 64.8 8.4 (8.0) 65.3 (8.9) 56.4 EBITDAs 135.7 14.0 (7.2) 142.5 (43.6) 98.9 Share of income in companies accounted for under the equity method (0.1) 0.0 (0.1) (0.2) 0.0 (0.2) Earnings Before Interest and Tax (a) 64.7 8.4 (8.1) 65.1 (8.9) 56.2 Capital expenditures (excluding Earth Data surveys) (b) 4.4 3.3 1.1 8.9 (0.0) 8.9 Investments in Earth Data surveys. Net cash 52.4 - - 52.4 0.0 52.4 Capital employed (c) 1.6 0.5 0.0 2.1 0.0 2.1 Total identifiable assets (c) 2.0 0.6 0.0 2.6 0.0 2.6 “Eliminations and other” corresponded mainly to general corporate expenses Capital expenditures included capitalized development costs of US$(4.3) million for the three months ended March 30, 2026. “Eliminations and other” corresponded to the variance of suppliers of assets for the three months ended March 30, 2026. Capital employed and identifiable assets related to discontinued operations are included under the column “Eliminations and other”. NOTE 10 OTHER REVENUES AND EXPENSES Three months ended March 31, (In millions of US$) 2026 2025 Restructuring costs (2.5) (1.7) Change in restructuring provisions 2.4 1.3 Other restructuring expenses (0.0) (0.0) Impairment and restructuring expenses – net (0.1) (0.4) Other revenues (expense) (0.0) (0.0) Exchange gains (losses) on hedging contracts 0.3 0.2 Gains (losses) on sales of assets 0.5 (0.1) OTHER REVENUES (EXPENSES)-NET (a) 0.6 (0.3) Other revenues (expenses) – net excluding income (loss) on discontinued operations The other revenues (expenses) as of March 2026 amounted to US$0.6 million. They mainly include: ⯈ US$0.3 million gain on hedging contracts; and ⯈ US$0.5 million of capital gains on asset disposals, mainly relating to US$ 0.4 million of insurance compensation at Sercel. The other revenues (expenses) as of March 2025 amounted to US$(0.3) million, mainly reflecting redundancy payments processed through the UK payroll. NOTE 11 OTHER FINANCIAL INCOME (LOSS) Three months ended March 31, (In millions of US$) 2026 2025 Exchange gains (losses), net 0.2 (2.1) Other financial income (loss), net (0.9) (44.1) OTHER FINANCIAL INCOME (LOSS) (0.7) (46.2) As of March 31, 2026, the Other Financial Income (Loss) was a US$(0.7) million loss, including: ⯈ US$(1.2) million charges related to the prepayment premium of the existing senior note 2030. ⯈ US$0.2 million foreign exchange loss. mainly driven by the Euro, the Brazilian real, British pound, Norwegian krone and Chinese yuan exposures. As of March 31, 2025 the Other Financial Income (Loss) was a US$(46.2) million loss, including: ⯈ US$(44.1) million loss related to refinancing transaction including a US$(21.9) million charge related to the prepayment premium of the existing senior note. As from the June 2025 closing, in accordance with IFRS 9, US$19.5 million of transaction costs directly attributable to the new Notes were treated as a deduction from the nominal amount of the debt, rather than being expensed in profit or loss. ⯈ US$0.6 million interest income related to a court-ordered ISS tax refund (Brasil). ⯈ US$ (2.1) million foreign exchange loss, mainly driven by the Euro, Norwegian Krone, British pound and Chinese yuan exposures. NOTE 12 SUBSEQUENT EVENTS New BPI loans In April 2026, Bpifrance granted Viridien SA three loans to support development and the green transition, for a total amount of €10 million. All loans have a 3-year maturity (April 2029) and are repayable in quarterly installments starting in July 2026. An annual interest rate of 4.81% applies to all facilities.

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