THE FORWARD PROJECT AS

Operating

Selv, gjennom hel- eller deleide selskaper eller ved samarbeid med andre virksomheter, å forestå investeringer i aksjer, obligasjoner, selskapsandeler og andre verdipapirer, samt å yte økonomisk støtte og tildele gaver til humanitære og allmennyttige formål.

Investeringsvirksomhet direkte eller gjennom hel- eller deleide selskaper, samt å yte gaver til veldedige og allmennyttige formål.

Organization

CEO: KS
Knut-Olav Skjetne1975
Chairman of the board: GM
Gustav Magnar Witzøe1993
Years since formation: 5 years; since Sep 29, 2021
Type: Limited company
VAT registered: No
Number of employees: 0

Ownership

Number of shares and share classes: 10,000; 1 share class
Total number of shareholders: 1; company
Belongs to group of

Financials

Annual total result 2025: -136,193,465; NOK
Total equity 2025: 7,224,171; NOK

Last update: Aug 15, 2026

Management

Management / administration

Name	Role	Shares
KS Knut-Olav Skjetne 1975	Managing Director/CEO	-

Board

Name	Role	Shares
GM Gustav Magnar Witzøe 1993	Chairman	97 % indirectly
EE Eirik Edvardsen 1970	Board Member	-

Others

Name	Role	Shares
P PRICEWATERHOUSECOOPERS AS	Auditor	-

Top 10 individual shareholders

Name	Role	Shares
GM Gustav Magnar Witzøe 1993	Chairman	97 % indirectly
TJ Thomas Johan Jessen 1976	-	1.04 % indirectly
GW Gustav Witzøe 1953	-	1 % indirectly

Last update: Jun 22, 2026

Ownership

Company shareholders

Name	Share class	Total number of shares	Share
K KVARV AS	Ordinary shares	10,000	100 %

Shares owned by the THE FORWARD PROJECT AS

Name	Share class	Total number of shares	Share
F FUTURE INITIATIVE AS	Ordinary shares	1,000	100 %
D DIGITAL COLLECTIVE AS	Ordinary shares	1,000	100 %
K KVARVHEIM AS	Ordinary shares	9,010	90.1 %
M MGM EIENDOM AS	Ordinary shares	15,000	50 %
V VER2.0 AS	Ordinary shares	1,500	50 %
D DØGN AS	Ordinary shares	1,550	34.07 %
S SIGNATURE GROUP AS	Ordinary shares	250	25 %
F FUTURUM VENTURES FUND I AS	A-shares	50,000,000	10 %

Last update: Jun 2, 2025

Group structure

KVARV AS
Total operating income 2025: NOK 218,000
Operating profit 2025: NOK -35,715,000
Employees: 5

Financials

in NOK

Summary

Year	2025	2024	2023	2022	2021
Total operating income	0	0	232,081	0	0
Annual Total Result	-136,193,465	-102,897,387	-116,684,947	-18,589,257	-112,194,880
Total assets	366,162,511	384,896,762	205,411,757	114,061,989	8,450,851
Total liabilities	358,938,340	271,479,125	179,096,734	14,851,830	651,301
Total equity	7,224,171	113,417,637	26,315,023	99,210,159	7,799,550

P&L

Year	2025	2024	2023	2022	2021
Total operating income	0	0	232,081	0	0
Total operating costs	107,211,785	113,986,487	109,236,286	14,286,675	112,756,175
Operating result	-107,211,785	-113,986,487	-109,004,205	-14,286,675	-112,756,175
Financial income/costs	-28,981,681	11,089,101	-7,972,106	-3,779,277	37,856
Profit before tax	-136,193,465	-102,897,387	-116,976,311	-18,065,952	-112,718,319
Total tax & extraordinary income/cost	0	0	-291,364	523,305	-523,439
Annual Total Result	-136,193,465	-102,897,387	-116,684,947	-18,589,257	-112,194,880

Balance overview

Year	2025	2024	2023	2022	2021
Total fixed assets	277,823,527	140,120,647	92,745,810	1,301,858	5,553,439
Total current assets	88,338,983	244,776,115	112,665,947	112,760,131	2,897,412
Total assets	366,162,511	384,896,762	205,411,757	114,061,989	8,450,851
Short term debt	358,938,340	271,479,125	179,096,734	14,851,830	651,301
Long term debt	0	0	0	0	0
Total liabilities	358,938,340	271,479,125	179,096,734	14,851,830	651,301
Contributed capital	7,567,754	113,417,637	26,315,023	99,210,159	119,994,430
Retained earnings	-343,583	0	0	0	-112,194,880
Total equity	7,224,171	113,417,637	26,315,023	99,210,159	7,799,550
Total equity and liabilities	366,162,511	384,896,762	205,411,757	114,061,989	8,450,851

Classification

21st company classification

BETA

Industrial daughter company

Type of organization

Limited company

Classification of institutional sector

INNL

Domestic sectors

A_IKKE-FIN

Non-financial corporations

2100

Private non-financial incorporated enterprises

THE FORWARD PROJECT AS927 835 134