Goodtech

Earnings Release • Oct 26, 2023

Data driven decisions in Nordic industry

The preferred partner for industrial efficiency

Margrethe Hauge CEO

Øyvind Osjord CFO

Highlights from Q3 2023 Goodtech ASA Webcast

Webcast Goodtech ASA Q3 2023

Summary

376 MNOK Order backlog

Takes on larger project scope and responsibility in increasingly larger digital transformation projects

Strengthened market position through the acquisition of Skala Flytende

Continuous looking for talents

• 91% growth in revenues from Q3 2023
• 3,5 MNOK (+83%) growth in EBITDA from Q3 2023
• 71% growth in order backlog from Q3 2023

Increased COGS % of revenue from 27% in Q3 2022 to 51% in Q3 2023

Large contract wins in the quarter; Aker Solutions Verdal, Inmotion Technologies and Hokuren

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• Acquired Skala Flytende – 24 engineers in Oslo, Trondheim, and Rogaland
• 100 MNOK revenue potential (5 MNOK ARR)

Always on the lookout for the best people to join our journey

Webcast Goodtech ASA Q3 2023 Announced contracts Q3 2023

• Semi-automated assembly lines
• Built on Goodtechs modular assembly-
• concept enabling flexibility and scalability

• Digital transformation of production processes at Aker Solutions Verdal
  • Systems integration and data infrastructure

PORTABULK® technology, packaging products and services

On 16.08.2023 Goodtech announced the acquisition of Skala AS's business unit for Industrial IT, automation and process technology within liquid consumer goods production industries – Skala Flytende.

Rogaland

Webcast Goodtech ASA Q3 2023

Key financials*

EBITDA | MNOK

EBITDA-margin

Highlights

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• Continuing growth in order backlog from larger digital transformation projects results in increased revenue

• Solid performance in all Goodtech regions

• Successful strategic shift upwards in the value chain taking a bigger part of large industrial transformation projects – which involves an increase in COGS as % of revenues and consequently also revenues and nominal EBITDA

• EBITDA increased by 3,5 MNOK (+83%) from Q3 2022, continuing trend of nominally higher EBITDA compared to 2022

EBITDA-margin impacted by higher non-recurring opex costs (~4 MNOK) in the quarter related to the Skala Flytende transaction, legal fees and a project write-down in the Groups activity in Sweden

* All figures contain Goodtech Solutions Manufacturing AB up until (and including) the transfer date to new owners at 31.08.2022. Goodtech has classified the business at Åland as "Held for sale" in accordance with the guidelines in IFRS 5. Revenues and EBITDA related to the business at Åland for the entire 2022 is also excluded in the figures above

Webcast Goodtech ASA Q3 2023 Consolidated Balance Sheet (non-audited)

Webcast Goodtech ASA Q3 2023 Sales and order backlog*

Order backlog* | MNOK

* All values include Goodtech Solutions Manufacturing AB (Goodtech's former CNCmachining business at Arvika) up until, and including, take-over from new owners at 31.08.2023. The group's discontinued operations at Åland are not included

Development in order backlog | Continuing operations

The order backlog for the group's discontinued operations at Åland was 0,47 MEUR by the end of Q3 2023

Well positioned in a growing market within all segments of industrial transformation and digitalisation

Continuing to grow in our core business areas; automation, robotisation and digitalisation

Continued strong order backlog, increased project scope and responsibility. Stable activity in all business areas

Positioned to be the key player in the market for enabling OT-data for AI and machine learning in Nordic industries

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An attractive employer with exciting projects and good resource capacity

Summary of Q3 2023

increasingly larger digital transformation projects

Strengthened market position through the acquisition of Skala Flytende

Continuous looking for talents

Webcast Goodtech ASA Q3 2023

Margrethe Hauge CEO

Øyvind Osjord CFO