Autostore Holdings Ltd.

Investor Presentation • Nov 6, 2025

20325

Financial Results | November 6, 2025

Disclaimer

Certain statements included in this presentation includes forwardlooking statements that reflect the Company's current views with respect to future events and financial and operational performance. These forward-looking statements may be identified by the use of forward-looking terminology, such as the terms "anticipates", "assumes", "believes", "can", "could", "estimates", "expects", "forecasts", "intends", "may", "might", "plans", "should", "projects", "will", "would" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements as a general matter are all statements other than statements as to historic facts or present facts and circumstances.

The forward-looking statements regarding the Company's intentions, beliefs or current expectations concerning, among other things, the Group's financial strength and position, backlog, pipeline, operating results, liquidity, prospects, growth, the implementation of strategic initiatives, as well as other statements relating to the Group's future business development and financial performance, and the industry in which the Group operates, such as but not limited to the Group's expansion in existing and entry into new markets in the future.

Forward-looking statements are not guarantees of future performance and that the Group's actual financial position, operating results and liquidity, and the development of the industry and potential market in which the Group may operate in the future, may differ materially from those made in, or suggested by, the forward-looking statements. The Company cannot guarantee that the intentions, beliefs or current expectations upon which its forward-looking statements are based will occur. By their nature, forward-looking Statements involve, and are subject to, known and unknown risks, uncertainties and assumptions as they relate to events and depend on circumstances that may or may not occur in the future. Because of these known and unknown risks, uncertainties and assumptions, the outcome may differ materially from those set out in the forward-looking statements.

Agenda

01 Highlights of the quarter & business update

02 Financials

03 Q&A

Q3 2025 overview

Maintaining stable sequential trend

Financial overview

• Revenue \$139.0 million, +3.7% QoQ and -3.6% YoY
• Order intake \$152.4 million, stable QoQ and +5.9% YoY
• Gross margin of 73.1%, +4.3 p.p. QoQ, -0.4 p.p. YoY; Q2 margin impacted by one-time inventory write-down of the B1 Robot business line
• Adj. EBITDA¹ margin 47.1%, stable QoQ and YoY

Business overview

• Introduced seven new products in October, including AutoCase and FlexBins
• Established partnership with Veloq, an end-to-end grocery automation solution provider

The cubic storage pioneers

Global scale and leading position in an underpenetrated warehouse automation market

Scaled and global platform

Countries	63
Robots 1	~82,500
Systems 1	~1,850
R&D FTE 2	238

Customers and partners

Partners	23
Certified sales representatives	~3,000
Unique customers	~1,250
Customer payback period	1-3 years
Broad exposure to all end markets 3	~50% Sales to existing customers

Superior financial profile

FY 2024 revenue	\$601m
Gross margin LTM	72%
Adj. EBITDA margin LTM	43%
FCF conversion 4 LTM	70%

Opportunities for expansion across a wide range of end-markets

End-market	# of systems1	2024 share of revenue	Selected blue-chip customers
Apparel / Sports accessories	~ 260	20%
Industrials2	~ 610	22%
3PL	~ 210	14%
Other retail3	~ 180	12%
Grocery	~ 160	7%
Automotive	~ 160	9%
Healthcare	~ 170	8%
Luxury & Personal Care	~ 40	4%
Consumer electronics	~ 60	4%

2025 Fall product announcement

Expanding our capabilities

AutoCase

Automate the induction and extraction of cases into the AutoStore system

FlexBins

Improve density and SKU coverage, unlock new workflows by utilizing different bin sizes in the AutoStore system

CarouselAI enhancement

Flexible outbound and performance enhancements

MTS¹: Frozen only

Expand the grid into grocery and healthcare with frozen separate from the chilled module

Making it easy to optimize and save

CubeDeploy

Single software installer that enables installation/upgrade of Cube Control Software on AutoStore systems

Floor flatness

Removing floor flatness challenges from pain point to competitive advantage

Fire standards

Reducing discharge pressure on the sprinklers reduces cost without impacting fire safety

Customer case: e-commerce high throughput

Alza from initial site to extensions-and now scaling further

Alza processes around 125,000 order lines per day, with volumes doubling during peak season, and has improved its

Alza, founded in 1994 in Prague, is the Czech Republic's

largest online retailer, offering >700K products in

electronics, home, toys, beauty, and sports

order picking speed by 75%

" We chose AutoStore because it offers the best combination of speed, accuracy, and density. In addition, the integration is easier compared to other automation technologies. After careful comparison, AutoStore proved to be the best fit for our operational needs.

Jan Linhart

Head of Warehouse Innovation, Alza

Launching 2nd site with 650 robots and 400K bins in 2026, leveraging integrated systems to drive automation and operational efficiency

Q3: Financials

Key financial overview

Continued positive sequential revenue trend and stable order intake. Solid margins supported by cost initiatives and operational efficiency

\$139m

Revenue +4% QoQ and -4% YoY

76%

Cash conversion²

73%

Gross margin +4 p.p. QoQ, due to B1 writedown in Q2. Stable development YoY

\$152m

Order intake stable QoQ and +6% YoY

47%

Adj. EBITDA margin¹ stable QoQ and YoY

\$543m

Order backlog +3% QoQ and +13% YoY

Solid order intake and healthy backlog

Sequential revenue stability

Delivering consistent profitability through operational discipline

Solid gross margin supported by consistent operational efficiency. Recovery from Q2, which was impacted by one-time writedown related to B1 Robot

Adj. EBITDA margin¹

Adj. EBITDA margin remains strong, underscoring our continued organizational discipline

Continued strong cash position

Observations

Operating cash flow came in at \$73.4 million compared to \$25.9 million in Q3 2024, which reflects our highly cash generative business model and favorable working capital timing

Total liquidity stands at \$498.0 million, including \$348.0 million in cash and \$150.0 million in RCF headroom. A new \$500.0 million facility will be drawn by year-end, with surplus cash primarily used to reduce debt while maintaining strong financial headroom

Q&A

Key takeaways

• 01 Massive under-penetrated market driven by megatrends
• 02 Adapting to uncertainty by executing on our growth strategy
• 03 Multiple ways to win
• 04 Innovation remains core
• 05 Positioned for long-term value creation

Appendix

Presentation of Adj. EBITDA¹ breakdown

USD million	Third quart	er	YTD
	2025	2024	2025	2024
Profit/loss for the period	32.2	31.1	40.9	96.4
Income tax	9.2	6.9	11.5	25.2
Net financial items	7.2	15.9	31.9	41.1
EBIT	48.6	54.0	84.3	162.8
Depreciation	5.0	4.6	13.9	11.6
Amortization of intangible assets	11.1	10.2	31.1	37.3
Impairment	0.5	-	0.5	-
EBITDA1	65.3	68.8	129.8	211.7
Ocado Group litigation costs	-	-	-	0.4
Option costs	0.2	-1.3	1.5	-6.2
Transformation costs 2	-	-	19.0	-
Total adjustments	0.2	-1.3	20.5	-5.8
Adj.EBITDA¹	65.5	67.5	150.3	205.9
Total revenue and other operating income	139.0	144.2	358.9	436.5
EBITDA margin¹	47.0%	47.7%	36.2%	48.5%
Adj.EBITDA margin¹	47.1%	46.8%	41.9%	47.2%

^1. Adj. EBITDA and other alternative performance measures (APMs) throughout the presentation are defined and reconciled to the financial results as part of the APM section of the Q3 2025 report