Correct. From what I can read in the decision letter, Metas local Norwegian subsidiary, named "Facebook Norway AS", is being held collectively responsible for "fine of up to NOK 1 000 000 per day of non-compliance on Meta Platforms Ireland Limited and/or Facebook Norway AS" - https://www.datatilsynet.no/contentassets/36ad4a92100943439d...
Facebook Norway AS did, however, only have a revenue of about 6.6 million USD in 2022, with a profit of 3.6 million USD, according to https://www.proff.no/selskap/facebook-norway-as/oslo/reklame... . They have 27 employees. The revenue from Norway are however much bigger and was speculated to be 233 million USD in 2021: https://e24.no/naeringsliv/i/A3r1Mz/facebook-bokfoerte-bare-...