Zaptec AS

Investor Presentation • Nov 5, 2025

Zaptec powers adventure

Q3 2025

Financial results

November 5th 2025

Steady progress

• Strong EV market across Europe 1
• Revenue, gross margin, and EBITDA increasing year-over-year 2
• Record installations and strong order intake point to future growth 3
• Robust performance reinforces leadership in core markets 4
• Strengthening position in major markets 5
• Inventory normalized, driving robust cash flow and improved liquidity 6

Financial highlights

369

+23% vs. Q3'24

Revenue Order intake

330

+35% vs. Q3'24

Order backlog

524

+44% vs Q3'24

Gross margin

39%

vs. 39% vs. Q3'24

OPEX

124

vs. 112 in Q3'24

EBITDA

21

vs. 4 in Q3'24

23% revenue increase in the third quarter

MNOK

35% increase in order intake

→ Order backlog of 524 MNOK at the end of Q3

MNOK

Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25

Strong gross margin

EBITDA significantly improved

LTM EBITDA continues to show steady improvement

~7% LTM EBITDA margin

MNOK

Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25

EV market continues to strengthen

Plug-in vehicle sales Q3 2025 vs Q3 2024 (%)

Expand in major markets 1 Accelerate rollout of new products Build on success in core markets 2 3 4 Optimize cash flow

• Build on success in core markets 1.
• Accelerate rollout of new products 2.
• Expand in major markets 3.
• Optimize cash flow 4.

Strong growth in mature markets

• Build on success in core markets 1.
• Accelerate rollout of new products 2.
• Expand in major markets 3.
• Optimize cash flow 4.

Installation rates at all time high

Q3 installations up 20% vs last year, with a record 25,000 in October

LTM = Last Twelve Months

• Build on success in core markets 1.
• Accelerate rollout of new products 2.
• Expand in major markets 3.
• Optimize cash flow 4.

Production delivered according to plan

Well-positioned to further scale production if needed

• Build on success in core markets 1.
• Accelerate rollout of new products 2.
• Expand in major markets 3.
• Optimize cash flow 4.

54% growth in major markets in Q3

Revenue, MNOK

• Build on success in core markets 1.
• Accelerate rollout of new products 2.
• Expand in major markets 3.
• Optimize cash flow 4.

Sustainable Opex level focused on growth and innovation

• Build on success in core markets 1.
• Accelerate rollout of new products 2.
• Expand in major markets 3.
• Optimize cash flow 4.

Inventory reduced by 74 MNOK, now approaching target level

• Build on success in core markets 1.
• Accelerate rollout of new products 2.
• Expand in major markets 3.
• Optimize cash flow 4.

Liquidity strengthened further, supported by robust cash flow

Outlook

• European EV market expected to stay strong
• Positioned to maintain leadership in core markets
• Record installation rates creating new growth opportunities
• Strategic sales initiatives and new product features in large markets
• Continued outlook for profitable growth