Cyviz AS

Investor Presentation • Aug 17, 2022

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Today's agenda and presenters

Second-quarter in brief

Business highlights

Strategic partnerships

Q2 financials

Outlook

Q&A

Espen Gylvik CEO

Marius Skagen CFO

Cyviz is a leading global provider of advanced collaboration solutions

"Cyviz helped us transform our Envisioning Theatres to a next generation digital platform that supports the new hybrid work model with Microsoft Teams."

• David Rogers, Microsoft – Director of Operations & Technology, Executive Briefing Centers

Cyviz provides solutions for digital collaboration in meeting rooms, innovation centers, boardrooms and command & control centers

Cyviz' in-house developed software platform and hardware is integrated with third party technology into standardized turnkey solutions which are:

• Easy to deploy
• Easy to use
• Easy to support

Cyviz provides one platform for any type of room to increase productivity, harness innovation and enable decision making. Our solutions are versatile and can be converted at the touch of a button to accommodate different workflows

Return to the office place and the advent of hybrid workplaces continues to drive demand, as the workplace becomes a destination to support hybrid collaboration

EBITDA of NOK 5.0m with all-time-high revenues of NOK 120m

Second-quarter in brief

NOK 5.0m in EBITDA

driven by a strong backlog built up during the last year Gross profit up 21% compared to Q2'21 ending at NOK 54m for the quarter

Signed new strategic partnership deals with Atea Group and Techlit SCM accelerating Cyviz' ability to sale software and cloud platform services

Order intake of NOK 117m leaving the rolling 12-months trend at NOK 445m, up 45% compared to same period last year

Business highlights

• More diversified portfolio across both geographies and verticals
• Several large contracts awarded in government & defense-vertical
• Signed NOK 24m deal with Fortune 500 company

ORDER INTAKE BY VERTICALS

Q2 SIGNIFICANT WINS USD 2.4m CEO Office Board room, multi-function rooms and broadcast studio USD 1.3m Aker BP onshore collaboration center USD 2.5m Defense command & control center Partnership agreements Techlit SCM and Atea Group USD 0.7m National Security Center HQ meeting rooms USD 0.7m MS Envisioning Theatre Johannesburg USD 0.6m Oil & gas advanced visualization and collaboration room USD 0.6m HQ upgrade New York

ORDER INTAKE BY REGION

New strategic partnerships

• Managed services for enterprise customers with Microsoft Teams Rooms (MTRs) in Scandinavia
• Cyviz Easy Agent for Teams integration in the Italian market
• Accelerating recurring revenue models and scaling of software and cloud platform services

YEARLY ROLL-OUT OF MTRs*

COMMENTS

• Atea strategic partnership for building managed services for customers with Microsoft Teams Rooms (MTRs) in Scandinavia
• Techlit SCM Italian integrator helping companies exploit advantages of hybrid working. Collaborating with Cyviz to implement Cyviz Easy Agent for Teams integration in the Italian market and open up opportunities for new Cyviz core business.
• Worksphere Dutch multitechnical facility management making buildings smarter and more sustainable. Strategic partnership to develop Cyviz business in Benelux.
• DMS global service provider for Unified Communication and Collaboration (UCC). Partnership accelerates Cyviz' ability to scale services to global Fortune 500 strategic accounts

*source: MS Partners

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Financial highlights

• Revenue growth of 17% compared to a strong Q2'21
• All-time-high reported gross profit
• EBITDA of NOK 5.0m in line with expectations
• Order intake up 21% year-to-date compared to 2021
• Order backlog NOK 219m, up NOK 100m compared to Q2'21

(all figures in NOK)	Q2 2022	Q2 2021	∆ Q2 2021	YTD	LYTD
REVENUES	119.8m	102.2m	17.6m	189.3m	159.0m
GROSS PROFIT	54.2m 45.2%	44.8m 43.8%	9.4m	83.6m 44.2%	69.6m 43.8%
EBITDA	5.0m 4.2%	7.4m 7.2%	-2.4m	-13.3m -7.0%	-0.2m -0.1%
ORDER INTAKE	116.9m	107.8m	9.1m	237.6m	195.8m

KEY FINANCIAL FIGURES QUARTERLY DEVELOPMENT

Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22

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Order intake rolling 12 months trend

ORDER INTAKE ROLLING 12-MONTHS GOVERNMENT & DEFENSE VERTICAL (MNOK)

COMMENTS

• NOK 138m growth in order intake rolling 12-months trend year over year
• Performance in Q1 2021 was boosted by NOK 65m in new orders for Microsoft Technology Centers
• This year's booking performance driven by 40 unique customers across several industry verticals and regions
• Relative decrease in the corporate segment was offset by an increased demand for command & control roomsolutions in the government and defense-vertical
• 154% growth for the government & defense-vertical over the last two years

Cash flow and accounts receivables

COMMENTS OPERATING CASH FLOW AND ACCOUNTS RECEIVABLES (MNOK)

BREAK-DOWN OF ACCOUNTS RECEIVABLES IN JULY AND AUGUST (MNOK)

• Cyviz had a net cash flow from operating activities of -NOK 54.5m in Q2
• NOK 40m derived from a short-term increase in accounts receivables due in July and August driven by the high level of project activities during the quarter
• High operational activity also led to inventories increasing by NOK 7m to secure hardware components from our main suppliers for Q3-projects

Strongest backlog entering the second half of any year with NOK 219m

Performance drivers for next quarters

Continue good trend in backlog conversion and continuous increased demand from customers for Cyviz solutions

Maintain cost control on operating expenses at current levels and secure key components in supply chain

Convert strong pipeline opportunities within government and defense, corporate and energy verticals

Monetize and execute on strategic partnerships entered during 2022 with DMS, Worksphere, Techlit SCM and Atea

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We transform how people work