Cyviz AS

Investor Presentation • Jan 22, 2025

Cyviz is next level collaboration. We bring communication, control and interaction together, powered by advanced technology but driven by one important thing: people. Cyviz makes life better by making the complex simple, ensuring work is more immersive, productive and ultimately more enjoyable.

This is Cyviz. The future at work, right here, right now.

Cyviz AS CAPITAL MARKETS DAY 2025 The road to 25% ARR and 25% EBITDA

January 2025 Espen Gylvik

Agenda and Presenters

Welcome & Objectives

Customer Cases

Financial Recap

The Way Forward

Activate Cyviz Core Tech

Financial Future

How We Do It

Our People

Espen Gylvik CEO

Gøran Hansen CTO

Karl Peter Gombrii

CFO

EVP Europe

CSO

Javier Colado

John Harald Grønningen Ellen K. Lome CPCO

Kiril Gurin Head of Customer Success

Sales Director Europe

Rune Syversen Chairman

Objective of today

Who is Cyviz Presenting Cyviz as a leader in collaboration technology, highlighting our mission and market positioning.

Financial Goals Outlining the roadmap to quadruple the EBITDA margin and triple the share of recurring revenue.

New Business Lines Introducing innovative, in-housedeveloped technology and unveiling the potential of two new business lines.

Growth Strategy Sharing insights into Cyviz' innovationdriven approach to scaling and long-term success.

What we do – and will do more of

The "Turn-Key" Business

Ready for use, advanced audio-visual collaboration solutions:

"The brain" is Cyviz' in-house developed hardware and software technology; the core competitive advantage

Cyviz designs solutions around the standardized core to which third-party AV-components are added

Cyviz installs and deliver fully functional, ready for use solutions paired with aftermarket support

Cyviz is next level collaboration. High Impact Solutions

A global technology company delivering high quality, intuitive solutions for Corporate Spaces, Command & Control, and Innovation & Envisioning, powered by our in-house developed Hardware and Software, and unique methodology and expertise.

Our Competitive Advantage

Competitive edge

Providing the "Brain Power" for high impact Audio-Visual (AV) Spaces, built on 26 years of industry experience

Unique AV Software Management Platform

Providing customers and partners the ability to monitor and manage any type of room from any kind of vendor

3 3

Next Level Collaboration

Innovative IT approach to the AV Industry – standard & configurable instead of ad-hoc and programmable

• Microsoft Technology Centers incorporating Cyviz
• Selected Cyviz Customer Locations
• 11 Cyviz Experience Centers (CEC)
• 7 Partner Showrooms

Years of Experience

Employees

Long-term relationships with global customers

90%

Renewal rate on support and maintenance

Net Promoter Score (NPS)

(Industry Average: 35)

Average Customer Retention Time, Top 20 customers

"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 Senior Director of Global Operations

"There were two reasons why this project with Cyviz was a success. The first was the pre -existing relationship, which meant Cyviz was easy to work with, and knew exactly what we needed(…). The second is the technology itself. It worked, we could rely on it!"

Peter Thomas, Accenture Global Marketing and Communications Director

"Our ambition for the OCC is to put us in the top 5% of operators worldwide for collaborative environments and remote operations. With this project we wanted to be cutting edge, to take ourselves out of our comfort zone and do things differently."

Andy Deady, AKER BP OCC Lead

"We were looking for a dependable partner for the audio and visual technology, and Cyviz had a software -based solution that provided some unique advantages."

Tijman Klamer, DNV Maritime Head of Section

Driving our competitive advantage further

How to Get There

Continue to delight existing and new customers with our turn-key solution.

Engaging partners on Integrator Kit and Software Management Platform.

Disrupt and transform the Audio-Visual industry with our Software Management platform.

Scale to new industries with IoT-enabled solutions, building on expertise in mission-critical systems.

Customer Cases

Theatres delivered since 2021

Theatres ordered in 2024

Seamless Collaboration Immersive Storytelling Complex Technology Demo

"The Cyviz team has really gone above and beyond in understanding the overall strategy and goals the Hub program is trying to achieve, and this really shows when they are supporting us with new demos and processes. "

Paul Robinson // Lead Technical Architect – Microsoft Innovation HUBs

\$39M

\$9.2M

LIFETIME VALUE

2024 NEW LOCATIONS

\$3.8M

2024 UPGRADES + RENEWALS

Referred Customers

• VISA
• Eurobank
• BMW Group
• Swiss Airlines
• Veidekke
• Microsoft Amsterdam Holosuite
• Microsoft AI Lab Austria
• Microsoft CELA NYC
• Microsoft SVC Portage Theatre

Future

• Next generation of Envisioning Theatres
• Cyviz EasyServer SaaS
• Cyviz Experience across other parts of the HUB
• Continued co-innovation
• AI innovation workshop in Oslo
• ADVOCACY
• REFERRALS

The Evolution of Cyviz and Aker BP's Journey

From Vision to Reality: Transformative Partnership

"We are creating this evolving journey to find the right way to work with the remote-first principle. (…) Cyviz will gain a larger and much more significant role at the table, contributing to the development of Aker BP in the direction we aim to go."

Bjørn O. Bådsvik // Senior IT Technical Engineer – Aker BP

\$38.5M LIFETIME VALUE

50+ SOLUTIONS IN OPERATION 120+

SOLUTIONS IN SCOPE (GNIST)

CYVIZ FINANCIAL RECAP

Financial Recap On a solid growth trajectory

Since the IPO, Cyviz has demonstrated robust revenue growth and increasing profitability

Double-digit revenue growth

Strategic change and new management propelled Cyviz into "hockey-stick" revenue growth from 2020

Strategic R&D investments

Over NOKm 80 invested in R&D in recent years, enabling the ready-for-commercialization technology-driven business lines

Sustainable EBITDA results

EBITDA trending towards cash-flow neutral levels, balancing growth and operational efficiency despite high R&D expenditure

9

2022

28

2023

Q3-24

LTM

36

-28

2019

-3

2020

-15

2021

Growing ARR share

Historical growth is tied to turnkey business and expansion of support services

Exponential ARR growth from new product lines penciled for the coming years

Diversified & loyal customer base

Strong repeat sales demonstrate loyalty and sustained demand

Vertically diversified customer base (Q3 YTD)

Geographically diversified customer base (Q3 YTD) North America

High share of repeat sales

• Consistent high level repeat sales
• % of order value increasing over time

Order value new customers Order value repeat sales

Top 10 customer retention

• Ranked by size
• Average tenure is over 7 years

Diligent OPEX control and Gross Margin improvement

Positive gross margin trend

• Drift driven by larger projects with repeat accounts, and ARR
• Gross profit fluctuates with product mix cases impacting quarterly performance
• Gross margin 2024 is above average trend over time reversal in 2025 anticipated

Stable OPEX past eight consecutive quarters

• Diligent cost control amid re-org and prepping for new business lines
• Inflation-driven increase anticipated in 2025; about 1/3 of revenue growth
• EBITDA margin expansion anticipated despite GM contraction in 2025

Growth and margin expansion driven by advanced solutions

Overall solid growth last 15 years Average order size increasing

• Double-digit growth since IPO
• Increasing share of large (advanced) solution sales
• Share of sale to large, blue-chip accounts growing

• Larger share of large (advanced) solutions drive average order size
• Advanced solutions drive more aftermarket (ARR) revenue
• Large orders increase sales efficiency and procurement scale advantage

Trending towards positive free cash flow (FCF)

EBITDA

• Approaching cash positive territory despite substantial investments in R&D since IPO

• R&D investments anticipated to contribute to higher margins amid modest future CAPEX growth

CAPEX

R&D Investments dominate CAPEX spend New product lines ready for commercialization

Cash Flow from Operations

Cash flow from operations entering positive territory Operational cash flows impacted by short-term fluctuations

Shift toward higher-margin in-house software and hardware

Cyviz becoming more tech-centric

• Increased focus on high-margin Cyviz Software and Hardware over lower-margin third-party offerings
• Shift to in-house software and hardware drives increased profitability, supported by internal data and peer benchmarks

Value-Added IT Resale

Combines third-party solutions with valueadding services.

Software-centric

Software-driven scalable platforms that enable efficient management and subscription revenue.

Collaboration AV Technology

Provision of hardware and software focused on AV productivity and collaboration.

The Way Forward

Growth Priorities

1 2 3

Direct Focus on Strategic Customers

Prioritize top strategic and local customers with profitable, direct project business

Scale Our Unique Tech Globally through Partners

Expand tech (HW & SW) reach into new markets and sectors through partners: Integrator Kit

Leverage SW Management Platform

Leverage our new Software Platform to manage AV spaces and devices via partners

Driving our competitive advantage further

Contribution margin by business line

1 . - T U R N - K E Y P R O J E C T S | I N C R E A S E E F F I C I E N C Y

Focus on the largest accounts, leveraging best practices (design, installation practices) to increase project efficiency. More profitable for Customers and for Cyviz.

2 . - I N T E G R A T O R K I T | M A R K E T E X P A N S I O N

Access to new geographies and new verticals through partnerships. Increase Cyviz awareness and profitability.

Integrator Kit

Addressable market

M A R K E T S I Z E : \$ 1 0 . 6 B i l l i o n

Integrator Kit: Value for Partners

A P P E A L I N G T O C U S T O M E R S

In the past two years, many customers have demanded their AV Integrators to adopt Cyviz Core Tech after experiencing our solutions at Microsoft, Accenture and similar organizations.

M A R K E T D I F F E R E N T I A T I O N

Partnering with Cyviz gives resellers a competitive edge and allows them to differentiate themselves in their markets.

P R O V E N T E C H N O L O G Y

Access to world class proven technology deployed by many demanding Fortune-500 companies.

H I G H E R P R O F I T S

Partners will have access to deliver worldclass high impact projects without relying on ad-hoc software development improving their current margins.

H I G H V A L U E S E R V I C E S

Partners will be able to provide new and more profitable types of Services, such as preconfigured deployments and remote support.

Software Management Platform

Contribution margin by business line

1 . - T U R N - K E Y P R O J E C T S | I N C R E A S E E F F I C I E N C Y

Focus on the largest accounts, leveraging best practices (design, installation practices) to increase project efficiency. More profitable for Customers and for Cyviz.

2 . - I N T E G R A T O R K I T | M A R K E T E X P A N S I O N

Access to new geographies and new verticals through partnerships. Increase Cyviz awareness and profitability.

3 . - S W M G M T P L A T F O R M | E X P A N D E C O S Y S T E M

Access to a larger addressable market through Partners. Expand into brand new accounts. Further develop our Recurring Revenue.

Software Management Platform

Addressable market

Beyond AV industry

M O S T A N T I C I P A T E D G R O W T H A R E A I N O U R I N D U S T R Y

Facility Management Building Management Systems, IoT Network Aware Devices

Total AV Market beyond Cyviz

Cyviz

M A N A G E M E N T P L A T F O R M : T H E F U T U R E O F A V

Source: Avixa IOTA Report 2024

Software Mgt Platform: Value for Partners

M A N A G E A L L A V R O O M S F O R C U S T O M E R S

Partners will be able to manage all the different types of rooms that their customers have (independently of the size and technology used).

M A N A G E D S E R V I C E S

Partners will be able to create and provide their own Managed Services to their customers leveraging the Cyviz platform and generating a recurring revenue stream for them.

U N I Q U E A R C H I T E C T U R E

The Cyviz innovative and unique architecture enables partners to develop their own integrations, interfaces with different systems and integrate with their own dashboards.

P R O V E N S O F T W A R E

EasyServer Software has been in use for many years by some of the most demanding customers (Accenture, Microsoft, Aker BP and others).

Partner Status

Cyviz Core Technology (Integrator Kit)

• 2 partners signed; targeting 8 more in 2025
• 3 tailored partner packages now ready for launch

Software Management Platform

• 15 partners signed globally
• Subscription-based pricing launched
• Targeting 10 new SW partners in 2025
• 5 Customers in our Cloud

Partner Portal for registered partners

SW Partner distribution:

Our New Competitor Landscape

AV System Integrators AV Technology AV Management Software

The Way Forward

• Shift to technology & platform-led growth
• Drive partner-led revenue growth
• Expand the reach of our unique solutions
• Boost profitability and cash flow
• Build predictable, recurring business

Activate the value of our Core Technology for customers through partners

What do the solutions for Microsoft and Aker BP have in common?

Cyviz Core Technology

In-house developed Hardware and Software.

Cyviz Design Principles

Standardized solutions without custom programming. Easy to buy, easy to use, and easy to own.

Operational Complexity

Both customers have tens/hundreds of solutions spread across a large geographical area. Maintaining and operating them is a real challenge.

3

1

2

Software Management Platform

Cyviz Core Technology

Essential building blocks for multiple types of solutions

Cyviz Core Technology has been used to build more than 4000 solutions globally.

Customer Benefits

Cyviz Software Management Platform

Ensure Reliability and Uptime

Prevent disruptions with proactive monitoring and predictive maintenance.

Optimize Operational Costs

Reduce on-site support and travel through automation and remote management.

Drive Continuous Improvement

Gain actionable insights to optimize system performance and user satisfaction.

Cyviz Software Management Platform

System overview: Overview and health status of all connected Cyviz systems

Monitoring: Detects issues early, before users are impacted

Remote support: Support operators can access Cyviz Controllers remotely

Centralized management: Can initiate software updates for Cyviz Controllers remotely

Usage statistics: Give insights into how users use the Cyviz rooms

Software Management Platform

Activate the value of Cyviz Core Technology

Cyviz Software Management Platform

Beyond Cyviz Solutions

Activate the value of Cyviz Core Technology

FINANCIAL FUTURE

Monetizing years of R&D to reach 2030 ambitions

Cyviz is a cash-positive platform validated by global blue-chip leaders, driving growth through R&D-backed, scalable new business lines

ARR: 25% | EBITDA: 25%

New business lines ready for commercialization.

Growth centered on high-margin, scalable SaaS product lines

EBITDA Margin 2024 (Q3-24 LTM) Target EBITDA margin 2030 Recurring revenue Share (Q3 LTM) Target ARR share 2030

Expanding recurring revenue through SaaS & cloud solutions

Recurring revenue will drive margin expansion

Contract or renewal-based recurring revenue

Subscription-based with automatic renewal ("evergreen")

Breakdown kategori I 2030 I graf her 2024 YE 2030

Support & Maintenance

Support & Maintenance (S&M) is calculated as a percentage of the hardware purchase value, ranging from ~ 3.5% to ~7.0%, depending on the support level

Service Level Agreement

Service Level Agreements (SLAs) provide additional prepaid professional services beyond S&M for physical preventive maintenance or emergency visits

Current

Revenue Share

~6%

1-4 yrs Duration before renewal

Easy Server Subscription (new)

The Cyviz Easy Server is the "heart and brains" of any Cyviz system. It is a web centralizing the management, troubleshooting, and monitoring

Current Starting 2025

Easy Server will be sold as a subscription solution

Agent-based Subscription (new)

All agents (software components and applications), including Monitoring agents, Remote management agents, Teams agents, and Controller agents

Starting 2025

Agents will be sold as a subscription solution

Subscription revenue roadmap

1

Effective 2025, ALL new Cyviz solutions and product lines are sold exclusively with Easy Server as a subscription

2

As of 21 January 2025, the company has already established a subscription base of NOK 3 million from 10 customers; half of which have cloud-based subscriptions

3

Beyond new sales, Cyviz will aim to convert on-prem customers to cloud-based Easy Server subscriptions

Turn-key

Turn-key revenue to stabilize from 2026

• Improve cost efficiency and scale advantage by focusing on repeat business
• Subscription revenue will add to margins
• Margins to stabilize at 48–50% by 2030

ARR renewal-basded (SLA and S&M)

Integrator Kit

Revenues driven by bundling high-margin components

• In-house developed HW and SW with high margins
• Driven by partner sales which require less sales effort

Software Management Platform

The Software Management Platform is a subscription revenue "jet-engine"

• Applicable to any AV room or device volume potential is high
• Pricing structure is different due to the use of multi-tenancy server
• The multi-tenant Easy Server version is charged as a flat subscription rate based on the number of rooms by end-customer – contrary to unique end-user

Connecting the dots…

Moderate revenue growth generates margin expansion through new business lines

2030 Ambitions

ARR: 25% | EBITDA: 25%

Our PEOPLE | The reason we succeed

Strategic Workforce Planning

30% increase in FTE supports 2x revenue growth and 8x EBITDA growth

• Investments in R&D
• Strategic shift to technology & platform-led growth
• Expand the reach of unique solutions
• Strengthen Partner Sales Organization
• Strong Corporate Culture

R&D Resources 2024

The Cyviz Culture

32 nationalities 17 locations

A geographically spread organization united by common goals and values, passion: "to develop next level collaboration"

What defines us?

Global, yet local presence People present in all our key markets, building strong local relationships.

A collective commitment to a shared global mission: developing "next-level collaboration."

Respect for cultural differences, celebrating 32 nationalities and pride in being part of Cyviz.

Pride in our achievements (high employee satisfaction)

Trusted by leading global customers – a testament to our focus on innovation and excellence.

A strong culture

Geographically spread organization united by common goals and values.

Effective internal communication and leadership enabling alignment despite physical distances.

We strive to delight our customers | We bring strength from diversity | We are one team | We enjoy being different | We embrace the adventure

Regional Presence

Closer to where business happens

Speed to market and competitiveness Regional Profit and Loss (P&L) Accountability Leadership with a local presence Cultural preservation Shorter way to decisions Ability to adapt fast to changes Relationships built locally

EVP North America

EVP Europe

EVP ME & APAC

In Summary

• Continue to innovate our inhouse Technology (SW and HW)
• Disrupt the industry and make our Software Management Platform the future of AV
• Scale through partners, building on our 26-year legacy
• Go beyond the AV market with the Software Platform and new services
• Hire, develop and retain the best People
• Embrace the journey

Why now? The foundation is ready

Capital Markets Day 2025 66