Huddlestock Fintech

Investor Presentation • Mar 21, 2024

Empowering modern financial solutions

Company presentation | DNB SME Conference March 21, 2024

Leif Arnold Thomas Group CEO

Made for business, used by people

Delivering platform infrastructure through:

Investment-as-a-Service and consulting services

We enable any company to launch an innovative new investment service, or transform their existing one, in a matter of weeks. ''

Self-reinforced market growth

Evolving preferences More platforms More investors

Investment-as-a-Service

Our eco partners

API Aggregators

CRM & Productivity

Established a unique North European market position ...

... with a limited competitive landscape

Our competitive advantages

• The only complete Investment-asa-Service offering
• We offer a broad set of instruments enabling product choice and future expansion
• EU license and white label frontend reduces cost and go-to-market time significantly for our customers
• Significant domain expertise to meet the needs of a diverse customer base

Geographical foothold and relative size of competitors

Serving a growing customer base

Value proposition

• Delivering our customers full control over end-users' holdings
• Trading and order management
• Safekeeping and regulatory umbrella
• Investment aggregator
• End-user interface
• Increasing scalability for customers

Wealth managers Investment platforms Fund companies Example Customers Example Customers Example Customers

• Consultancy customers

Recurring customer examples Investment as a Service offering

Focus on building and growing pipeline of profitable products

• Technology revenue from recurring sales of Investment as a service driven by,
• Monthly recurring licenses
• Assets under management (AuM/AuA)
• Transaction fees
• Consulting revenue from professional services business related to technology implementation
• Key priorities going forward

-

- Focus on recurring 'Investment as a service'-sales • Continue to grow professional services business • Enhance sales efforts in existing sales organization

Prioritising cost control and cost reduction going forward

Condenced P&L

NOK million

	2023	2022
Income	87,7	46,7
Cost of material/subcontractors	3,0	12,8
Personell cost	75,3	43,6
Other operating expenses	26,1	5,0
Operating expenses	101,4	48,6
EBITDA	-16,7	-14,7
Depreciation and amortisation	62,8	18,4
EBIT	-79,5	-33,1
Net financials	-8,1	-0,4
Pre-tax profit	-87,5	-33,5
Net result	-86,9	-15,7

88% revenue growth mainly from M&A activities

73% personnel cost increase related to M&A activities

Other operating expense increase mainly related to one-off costs related to acquisitions

Increased Depreciation and Amortisation related to developed technology and goodwill from acquired companies

Key priorities going forward

-

• Increase efficiency and enhance structures

• Cost control and cost reduction

Unique Nordic position established through M&A

Operating cash flow negative NOK 17 million

Investments include acquisitions of Dtech, Bricknode, Tracs Investor Services, Tracs Technologies, and R&D, offset by sale of Huddlestock Solutions

Financing mainly reflects proceeds form capital increase and increased loans

Key priorities going forward

• Identify long-term financing partners to support strategy including potential non-organic growth

Executing on roadmap toward EBITDA positive

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-

• Focus on recurring 'Investment as a service'-sales • Continue to grow professional services business • Enhance sales efforts in existing sales organization • Increase efficiency and enhance structures • Cost control and cost reduction

New management implemented Q1 2024 Our first priority

Leif Arnold Thomas CEO

Morten Bernhardsen CFO

• Established a strong North European position in a self-reinforced growth market
• Servicing clients on a recurring basis and through professional consultancy services
• Proven M&A growth abilities
• Scalable business model with identified growth opportunities
• New management established in Q1 2024
• Executing on roadmap to EBITDA positive
• Prioritizing activities and business development that build long-term shareholder values

Summary