Season's Greeting from Niels Aage Kjaer

The year 2022 has not been easy. Many conditions, which we cannot control, have had an impact on our business and in our personal lives. Despite having challenges, AVK still managed to get good results by continuous delivery of high-quality products to support sustainable development within all our business segments.

I would like to take this opportunity to thank our customers and business partners for their trust in us and for a very successful collaboration in 2022.

In 2022, we reached our best annual performance across our three business units: AVK Water, AVK Industrial and AVK Advanced Manufacturing. Our accomplishment is the result of our long-term planning and extensive investments in our operations, processes, products, business segments, and organization.

In 2022, we have also increased the number of employees by 300 and we are a total of 4,886 employees worldwide. This year's result would not have been possible without you, our dedicated employees, who care for our customers, partners, and each other in difficult times. This is true team spirit. Every person across the company is part of our great team and contributes to our journey of growth. I would like to thank each of you personally and on behalf of our management team. Thank you for your commitment and your effort.

We expect that 2023 will be another challenging year for us. However, we are looking forward about the future and expect continued growth in our main business areas. Our fundamental values of quality, innovation, reliability, sustainability, and customer service will serve as our guiding principles for the development in all areas of our operations. We pledge to keep these ideals at the forefront by making continual investments in our people, processes and products.

Now it's time to take some time off and relax. I hope each of you can spend more time with the people dearest to you.

I wish you all and your families a Merry Christmas and a Happy New Year 2023. And to all of you who do not celebrate, I wish you a peaceful time. I look forward to our collaboration next year.

Best Regards,

Niels Aage Kjaer, CEO & Owner, the AVK Group