credit impaired as per 31 December 2023. The Group’s assessment concludes that the loans had defaulted and been

assessed as stage 3 for ECL calculations in the second half of 2023. Consequently, the loan receivables, interest

income and the profit for the year were overstated in the financial statements for 2023. The errors have been

corrected by restating each of the affected financial statement line items for the prior periods, see note 2.5 for

further details.

Navamedic’s vision is to become a leading Nordic pharma company. The company’s midterm goal is to become a

company with 1 BNOK revenues through profitable growth. Management and the Board evaluates the strategy

annually and the base strategy has stayed firm over the last years. However, as the business evolves, the strategy is

adapted to reflect the current environment. Over the last 2-3 years, and particularly after the acquisitions of Impolin

risk, interest rate risk, and price risk), credit risk, and liquidity risk.

climate change, biodiversity loss and resource depletion. While the geo-political development arguably worsened

the outlook for global sustainability efforts, Navamedic’s commitment to sustainability and the environment has

proceeded with undeterred determination.

mostly headquartered around the Nordics and western European countries. The implication of this is that most of

these countries score high on many sustainability measures, such as labor laws, human rights, transparency etc.

There are however still risks present, not the least that some of our partners may have sub-contractors in higher risk

countries, hence the importance for Navamedic to continue gaining a higher level of detailed knowledge about its

supply chain.

management.