The statements of financial position shows the following amounts relating to leases:

Additions to the right-of-use assets amounted to $20 million for the year ended December 31, 2025, compared to $26

million and $11 million for the years ended December 31, 2024 and 2023 respectively.

The table below shows a maturity analysis of the lease liabilities:


	Year Ended December 31,
(in thousands of $)	2025		2024		2023
Lease liabilities
Less than 1 year	$	12,458	$	8,047	$	4,286
Years 1 through 5		32,718		25,670		13,890
Greater than 5 years		7,786		11,829		1,824
Total contractual cash flows	$	52,962	$	45,546	$	20,000
Total carrying amount	$	47,160	$	39,053	$	20,000

1)Comparative figures have been aligned with the presentation adopted in the current year.

The consolidated statements of profit or loss and the consolidated statements of other comprehensive income or loss


	Year Ended December 31,
(in thousands of $)	2025		2024		2023
Depreciation charges
Buildings	$	6,135	$	3,657	$	2,839
Vehicles		4,272		2,067		971
Equipment		34		35		36
	$	10,441	$	5,759	$	3,846

Interest expense (included in finance cost)	$	3,175	$	2,072	$	693

The total cash outflows for leases in 2025, 2024 and 2023 were $4 million, $8 million and $4 million respectively.

The Company applies the short-term lease recognition exemption (i.e., those leases that have a lease term of 12 months

or less from the commencement date and do not contain a purchase option) and the lease of low-value assets recognition

exemption. Lease payments on short-term leases and leases of low-value assets are immaterial and are recognized as an

expense within the operating category in the statement of profit on a straight-line basis over the lease term.

The Company does not have any lease agreement with variable lease payments or residual value guarantees. The

Company has several leases that include extension and termination options. These options provide flexibility in

managing the leased-asset portfolio and align with the Company’s business needs. The Company exercises judgment in

determining whether these extension and termination options are reasonably certain to be exercised. The undiscounted

potential future rental payments relating to periods following the exercise date of extension and termination options that