LINK Mobility Group Holding

Investor Presentation • Jun 16, 2021

The acquisition of Message Broadcast

June 2021

ABOUT THIS PRESENTATION

This presentation (the Presentation) has been prepared by LINK Mobility Group Holding ASA (the Company, and together with its consolidated subsidiaries, LINK) for a brief presentation of LINK in connection with the announcement by LINK of the acquisition of Message Broadcast LLC by LINK (the Transaction). This Presentation should not be used for any other purpose.

This Presentation is prepared based on information obtained from LINK, Message Broadcast and public sources on or prior to the date hereof and has not been independently verified. This Presentation only contains summary information and no representation or warranty, express or implied, is or will be made in relation to and no reliance should be placed on the fairness, accuracy, correctness or completeness of the information or opinions contained in this Presentation.

This Presentation contains forward-looking statements, which are based on current expectations, projections and assumptions about future events. Statements contained in the Presentation, other than statements of historical fact, regarding future events or prospects, are forward-looking statements. The words "may", "will", "should", "expect", "anticipate", "believe", "estimate", "plan", "predict", "intend" or variations of these words, as well as other statements regarding matters that are not historical fact or regarding future events or prospects, constitute forward-looking statements. The Company has based these forward-looking statements on its current views with respect to future events and financial performance. These views involve a number of known or unknown risks, uncertainties and assumptions, which could cause actual results to differ materially from those predicted in the forward-looking statements and from the past performance of LINK. As a result, you should not and may not rely on these forward-looking statements. No representation or warranty is made that any forward-looking statement will occur.

Forward-looking statements speak as of the date of this Presentation and no one undertakes to publicly update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise. Neither the Company nor its subsidiaries or affiliates, or their respective directors, offices, employees, advisers or agents accepts any responsibility or liability whatsoever or makes any representation or warranty, expressed or implied, as to the truthfulness, fairness, accuracy, completeness or verification of such information. Accordingly, undue reliance should not be placed on any forward-looking statement contained in this Presentation.

Certain numbers in the Presentation are unaudited or are based on internal company records or based on preliminary calculations by LINK on the effects of the Transaction. Some of these number may be subject to further review in due course, may be amended and the final numbers may differ from those set out in this Presentation. Until such time as that review is complete and any final numbers are published, no reliance shall be placed on, and LINK shall not be liable in any way in respect of such numbers.

Further, this Presentation may include market and industry data obtained by LINK from industry publications and surveys. LINK may not have access to the facts and assumptions underlying the numerical data, market data and other information extracted from public sources and as a result neither LINK nor any of LINK's advisors or representatives are able to verify such information, and assume no responsibility for the correctness of any such information.

Any information contained or views expressed in this Presentation do not purport to be comprehensive and are based on financial, economic, market and other conditions prevailing as of the date of this Presentation and are subject to change without notice. Neither LINK nor any other person undertakes any obligation to update or revise any information or statement contained in the Presentation, whether as a result of new information, future events or otherwise, except to the extent required by law.

No representation, warranty, or undertaking, express or implied, is made by LINK or its affiliates or their respective directors, officers, employees, agents or advisers (collectively Representatives), and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein, for any purpose whatsoever. Neither LINK nor its Representatives shall have any responsibility or liability whatsoever (for negligence or otherwise) for any loss howsoever arising from any use of this Presentation or its contents or otherwise arising in connection with this Presentation. Nothing contained in this Presentation is or should be relied upon as a promise or representation as to the future. Except where otherwise expressly indicated, this Presentation speaks as of the date hereof. All information in this Presentation is subject to updating, revision, verification, correction, completion, amendment and may change materially and without notice. In giving this Presentation, none of LINK or Representatives undertake any obligation to provide the Recipient with access to any additional information or to update the contents of the Presentation, or to correct any inaccuracies in any such information, including any financial data or forward-looking statements. The information contained in this Presentation should be considered in the context of the circumstances prevailing at this time and has not been, and will not be, updated to reflect material developments which may occur after the date of the Presentation.

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LINK has signed a definitive agreement to acquire leading U.S. CPaaS player Message Broadcast

Financing and timeline

• LINK has signed a SPA with Message Broadcast LLC (Message Broadcast), a leading CPaaS player in the U.S. market at an enterprise value of USD 260m

• Message Broadcast is a fast growing, high margin CPaaS player in the U.S. market with NOK ~330m in expected revenue (60% growth) and NOK ~200m

• Highly accretive transaction - Implied EV/GP multiple of 7.6x and EV/EBITDA

• The transaction is fully financed through a completed tap issue priced at

• (approx. NOK 2,174m)
• in expected adj. EBITDA (60% margin) in FY21E¹
• multiple of 10.8x 2021E
• 100% of par
• -
  -
• approvals expected

• The purchase consideration will be settled with 26% shares and 74% cash • Share issuance of 16,755,069 million new shares at closing • Cash consideration of USD 192 million (approx. NOK 1.6bn) settled by a successful tap issue of EUR 170m (approx. NOK 1.7bn) • Closing to take place shortly after settlement of tap issue. No US regulatory

LINK Mobility Group has signed a definitive share purchase agreement (SPA) with leading U.S. CPaaS player Message Broadcast

Purchase Price: USD 260m Deal structure: 26% shares | 74% cash Closing: Shortly after settlement of tap issue. No US regulatory approvals expected

Significant growth from post-IPO completed - Ongoing acquisitions taking LINK outside its European footprint to create a leading global player

Acquisitions of Message Broadcast and Soprano fundamentally enhance global reach, scale, and expansion potential for Link through level up transactions

(1) Source: Unaudited Q2 20 to Q1 21 financials for LINK, including full-year effect of Websms, Tismi, Marketing Platform, AMM. Unaudited financial figures for Soprano (Australian GAAP) for Q2 20 to Q1 21 obtained from Soprano, including full year-effect of the Silver Street acquisition, converted at a LTM FX rate of NOK/AUD 6.57. Unaudited financial figures for Message Broadcast (USGAAP) for Q2 20 to Q1 21, converted at a LTM FX rate of NOK/USD 9.172. Note that the combined figures (a) are unaudited and have been summarized by LINK for the purpose of this presentation using its best estimate and are based on available financial information as of the date of this Presentation, (b) may be amended and that the final numbers may differ from those set out herein, and (c) are presented for illustration purposes only and does not intend to be, nor shall be construed as, pro forma financial information as calculated and presented in accordance with the EU Prospectus Regulation.

Compelling strategic and financial rationale for the transaction

Attractive purchase price at 10.8x 21e EBITDA providing gateway for further opportunities

• Immediately accretive transaction Implied EV/GP multiple of 7.6x and EV/EBITDA multiple of 10.8x 2021E
• Expected to increase Link's pro forma margins (Gross profit and EBITDA) by over +400bps across both metrics

Experienced and motivated Message Broadcast management team backed by a solid organisation

• Founder-led team with over 25 years of industry experience
• Deep bench of management talent to act as the "tip of the spear" for additional U.S. bolt on acquisitions

Strategic expansion into the rapidly growing U.S. CPaaS market

• U.S. represents a large market opportunity due to low penetration resulting in a high growth market
• Strengthened U.S. footprint will expand our relationships with existing multi-national customers

3

Message Broadcast is a leading CPaaS player with outstanding financial performance

• Leading provider of mission critical customer engagement solutions to blue chip enterprise customers in the U.S.
• 65% revenue CAGR, 69% gross profit CAGR and 123% EBITDA CAGR for (2018-2020) EBITDA expected to nearly double y-o-y in '21e
• Sticky business model with >150% net revenue retention and <3% churn

1

Strong complementary CPaaS solutions provides meaningful revenue synergy potential

• Potential to cross-sell Link product portfolio across the Message Broadcast base and vice versa
• Combined entities will ramp up product innovation and GTM which will drive future growth

1

2

4

5

Utility Telecom Healthcare Finance

Strong customer base across multiple verticals

Message Broadcast is leading customer engagement platform for mission critical and automated workflow communications

Sticky revenue model generating >150% net revenue retention as a result of expanding use cases with existing customers

Founded in 1998, Message Broadcast is a leading provider of customer engagement solutions to large enterprise customers in the U.S.

Deeply entrenched enterprise relationships with strong market position in the American utilities vertical, a substantial share of largest players current customers

Experienced and motivated leadership team to continue leading the business and driving continued growth

Primary use case and customer value proposition - Deliver highly reliable communication to utility consumers during critical times (e.g., natural disasters, planned power outages, etc.)

Facts and figures 1

~330 NOKm

FY21E revenue

~60% YoY revenue growth (local currency)

~285 NOKm

~86% gross margin

FY21E gross profit

~200 NOKm

~60% margin FY21E EBITDA

Approx. 500 bps PF increase in Link margin 2

Approx. 400 bps PF increase in Link margin 2

Message Broadcast delivers exceptional organic growth with proven scalability

CAGR: Organic for 2018-2021E

For FY21e Message Broadcast expects ~60% sales growth and EBITDA to nearly double y-o-y

Source: 2018 – 2020 financial figures based on internal financial statements and trial balances provided by Message Broadcast. 2021 forecast based on LINK and Message Broadcast management

Global CPaaS leadership with significant exposure to high growth geographies

Source: Audited 2020 annual accounts for LINK. Soprano 2020 management accounts (Australian GAAP) obtained from Soprano, including full year-effect of the Silver Street acquisition, converted using FX rate of AUD/NOK 6.48. Message Broadcast 2020 based on audited accounts (USGAAP) converted using FX rate of USD/NOK 9.40

Compelling combined financials

• (3) EBITDA for Soprano and Message Broadcast is cash EBITDA as the companies do not capitalize R&D
  • (4) Source: Unaudited financial figures (USGAAP) for Q2 20 to Q1 21, obtained from Message Broadcast, converted at a LTM FX rate of NOK/USD 9.172.
  • (5) Summarizes the figures set out in the preceding columns. Note that the combined figures (a) are unaudited and have been summarized by LINK for the purpose of this presentation using its best estimate and are based on available financial information as of the date of this Presentation, (b) may be

amended and that the final numbers may differ from those set out herein, and (c) are presented for illustration purposes only and does not intend to be, nor shall be construed as, pro forma financial information as calculated and presented in accordance with the EU Prospectus Regulation.

~3,5x

adj. EBITDA

YE 2021E EBITDA

Further deleveraging

• Message Broadcast has delivered outstanding organic growth with sales, gross profit and EBITDA CAGR of 65%, 69% and 123% respectively between 2018 and 2020

• LINK Mobility expects Message Broadcast to add an additional NOK 200 million to LINK Mobility's 2021 cash EBITDA, further supported by organic EBITDA growth

LINK Mobility retains its financial policy of net debt/adjusted EBITDA below 3.5x. The company will hence strive to quickly de-lever and then maintain a leverage ratio below 3.5x.

Financial policy

Estimated Leverage Ratio development

(1) Should both the Message Broadcast and Soprano transactions close

The 2024 forward looking statement is prepared by the company's management using its best estimate and judgment based on past experience and actual knowledge and progress of the company's performance as of the date of this presentation, and have been based on several assumptions, many of which are outside the influence of the company's management. Any deviation of certain of these assumptions could materially change the outcome of the forecast.

Reiterated Outlook 2020