Huddly AS — Investor Presentation 2021

May 11, 2021

Huddly Q1 2021

Highlights Q1 2021

• • Revenue at 84.1 MNOK, up 14 % compared to Q1 2020 • EBIT at a loss of 256.4 MNOK, compared to 21.6 MNOK
• in Q1 2020
• in Q1 2020 (excluding option expenses)
• • Channel partnership with Mersive
• • Large room camera with Huddly L1

• Adjusted EBIT at 16.8 MNOK, compared to 21.9 MNOK

Sales

• Crestron, Google and Shure continued to be strong

• We partnered with Mersive Technologies a leading

• • Q1 2021 was a record first quarter for Huddly revenue, despite the 3rd wave of the COVID-19 pandemic
• partners
• provider of wireless media streaming and collaboration software
• • Huddly continued to increase investment in our the USA • Huddly L1 purchase orders commenced

Channels Go-To-Market strategy in both EMEA and

Huddly product portfolio

Channels Go-To-Market USA

Eric Kyler VP Sales, Americas West

Michael McAdams Sales Director, Americas West

Coming Soon Regional Sales Manager, Americas West

Kayla Payne Channel Marketing Executive

Charles Dancoe

Jenna Hassen Administrative Assistant

g

Greg Carswell VP Sales, Americas East

Michael Reilly (starting 5/17) Sales Director, Americas East

Patrick Donnelly Regional Sales Manager, Northeast

Powered by Bing Names, Microsoft, TomTom

Gabe Michaelson Regional Sales Manager, Southeast

Senior Support Manager

Todd Shires Director of Channel and Distribution

Coming Soon Pre- Sales Engineer

Connor Harvey (starting 5/24) Reseller Program Manager

Financials

• Revenue at 84.1 MNOK, up 14 % compared to Q1 2020 • EBIT at a loss of 256.4 MNOK, compared to 21.6 MNOK in Q1 2020 • Adjusted EBIT at 16.8 MNOK, compared to 21.9 MNOK in Q1 2020 (excluding option expenses / IFRS 2) • Balance sheet

• Outlook 2021

Financials – Revenue and Gross margin

• 14 % YoY growth in Revenue in Q1 2021 • Q1 2021 revenue: 73% strategic partners and 27% channel partners • Q1 2021 gross margin percentage: 52%

Financials – Adjusted P&L cost and Adjusted EBIT

• P&L cost base increasing in line with scaling of organization • Costs and EBIT adjusted* for 273.2 MNOK in IFRS 2 option expenses in Q1 2021 and 3.5 MNOK in full year 2020

* See Huddly Q1 2021 Report, Note 4 for further details

Financials – Balance sheet

• Capitalized R&D the majority of intangible assets • Working capital, investing in supply chain

Financials – Outlook 2021

• • Revenue of 400 MNOK to 500 MNOK in FY 2021
• • COVID-19 impact and risk • Mitigating supply chain disturbances
• • Gross margin percentage around 50% in FY 2021
• • Accelerated investments in products, go-to-market and support functions to accommodate for long term growth
• • Product roadmap and Go-to-market strategy supporting growth opportunity in 2nd half 2021 and 2022

R&D and products

R&D and design

• Huddly L1 launch • iF design award and Red Dot design award for Canvas

Huddly L1 AI Collaboration Camera for large meeting rooms

Huddly L1

Huddly Canvas

reddot winner 2021

Disclaimer

This document (the "Presentation") has been produced by Huddly AS (the "Company", "Huddly"), to provide information to authorized recipients of this document"). An authorized recipient is a person to whom Huddly has directly provided a copy of this document or to whom Huddly has made available wa a third party authorized by Huddly. The Recipient acknowledges and agrees that all intellectual property rights in the Company. The Resipient may only use this Presentation for the sole and exclusive purpose of considering potential investment in the Company. No representation or warranty (express or implied) is made as to, and no reliance should be placed on, any information, including but not limited to projections, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein. This Presentation is current as at 31 March 2021, however, relates to Q1 2021. There may have been changes in matters which affect the Company subsequent to the date of this Presentation. Neither the issue nor delivery of this Presentation shall under any incumstance create any implication that the information contained herein is correct as of any time subsequent to the affairs of the Company have not since changed. This Presentation is subject to Norwegian law, and any dispute or claim arising in respect of this Presentation is subject to the exclusive jurisdiction of Norwegian courts.