Questback Group AS — Earnings Release 2021

Nov 30, 2021

Questback Group – Q3 results and update

Questback Group – Q3 results and update

Oslo, Stockholm November 30, 2021

Questback offers the leading Software-as-a-Solution in the Nordics for collecting, reporting, and acting on customer and employee feedback. Our goal is to make companies and organizations smarter by providing the insights they need for better decision making to increase their revenue and to reduce their costs.

Q3 key highlights include:

•New customer sales growth by 26 % vs same period last year

•Net Retention Rate increased by 9 % vs same period last year

•Y/Y positive growth in total Annual Recurring Revenue (ARR) from core business, i.e., excluding resellers and brokerage agreements, for the first time since 2014

•Organization significantly strengthened by recruitments of 15 new great talents

•Expansion outside the Nordics, by local recruitments, and early customer wins, in DACH, UK and the Netherlands

•Strong EBITDA, despite investments in growth, of 47 %

Questback CEO, Saeid Mirzaie comments;

"Our work towards growth in our core business developed according to plan and the quarter has shown early signs of the strength of the plan we are now executing towards. I’m thoroughly impressed by our team and how our launched initiatives are already bearing fruit in the market as can be seen in our annual recurring revenue (ARR) development.

With the new focus on growth, which started back in August 2020, we have worked to slow down the overall decline in our ARR. And, by the end of Q3, we finally achieved Y/Y growth in our core ARR, for the first time since year 2014.”

For further queries, please contact:

Saeid Mirzaie

Chief Executive Officer

Ph. +46 733414407

Email: saeid.mirzaie@questback.com

John M. Edminson

CFO, Investor relations

Ph. +47 952 16162

Email: investor@questback.com

The attached Q3 report is available at our Investor Relations site: www.questback.com/ir

DISCLOSURE REGULATION

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

About Questback:

Questback is a leading platform for conducting Employee and Customer Experience projects. The company was founded in Oslo in 2000 and today has customers all around the world. With an ambition to fuel curious organisations with customer and employee insights, Questback has helped thousands of organisations make smarter decisions through the power of its easy to use platform. Learn more at Questback.com