Vend Marketplaces ASA

Investor Presentation • Nov 19, 2024

Capital Markets Day 2024

19 November - Port Olímpic, Barcelona

Q&A link: sli.do Event code: #1011554

An experienced team in place to drive value creation

Christian Printzell Halvorsen CEO

Robin Suwe Mobility

Kjersti Høklingen Real Estate

Eddie Sjølie Jobs

Cathrine Laksfoss Recommerce and Delivery

Per Christian Mørland CFO

Sven Størmer Thaulow CPTO

Ruben Søgaard Marketing and Sales

Antonia Brandberg People and Communications

Agenda

13:05 Becoming Schibsted Marketplaces 14:40 Break Christian Printzell Halvorsen

13:20 The new Schibsted Marketplaces Christian Printzell Halvorsen

13:35 Mobility Robin Suwe

14:00 Real Estate Kjersti Høklingen

14:25 Q&A Part 1

15:00 Jobs Eddie Sjølie

15:15 Recommerce Cathrine Laksfoss

15:35 Financial framework Per Christian Mørland

16:10 Wrap-up and Q&A Part 2

Christian Printzell Halvorsen CEO

Becoming Schibsted Marketplaces

< Content

Also known as "SMP"

Pioneering the marketplace industry since the 90s

Verticalisation

Nordic

Value realisation and focus

Unlocking more than 20 years of sustained value creation in Adevinta

Reducing our stake in Adevinta

Largest Nordic PE transaction¹ when Adevinta was taken private

Transacted at a >50% premium2 valuing Adevinta at NOK ~165 billion³

Reduced our stake by 60% while maintaining a financial minority interest (~14%)

Deal closed in May 2024

Realisation of value created from pioneering the industry

8 Note: 1) Mergermarket.com, time period 1997-2023 YTD, Norway, Sweden, Denmark, Finland, private equity buyout, target private and publicly owned, deal value > EUR 5bn; 2) Volume weighted average price over 3- and 6-months up to and including 19 September 2023, representing the day before the article discussing a potential offer for Adevinta; 3) Enterprise value of EUR ~14bn at EUR/NOK of 11.75; 4) Includes c.NOK 1 bn as part of the cash settlement of a total return swap (TRS) previously entered into between Schibsted and Danske Bank A/S

Transforming into a focused marketplace company by separating out News Media

Our largest shareholder, Tinius Trust¹ , acquired our news media operations²

Total transaction value of NOK 6.3 billion

The Trust agreed to support the removal of current dual-class share structure by January 2026

Deal closed in June 2024

Divesting News Media Significant step to become a stronger pure-play marketplace company

NOK 4.6bn³ cash proceeds

Reduced organisationaland technical complexity

Setting the Verticals free - a bold change to meet our user and customer needs

Stronger focus and deeper vertical expertise

Increased speed of innovation

Increased efficiency and reduced duplication of efforts

Swift transfer of products across geographies

Better products and services for our users and customers

11

Continuing our journey with strong momentum

Continued delivery of solid financial results

Expansion of successful new concepts

Good progress in vertical transformation and platform consolidation

ARPA expansion as key driver for financial performance1

12 Note: 1) SMP excl. Delivery; 2) ARPA = Average revenue per ad development (YoY YTD Sep '24 vs '23) in the top three revenue streams: Real Estate and Jobs in Norway, and Mobility in Sweden; 3) YoY YTD Sep '24 vs '23; 4) LTM per Q3 2024 (Q4 2023 + YTD Q3 2024)

Continuing our journey with strong momentum

Driving growth of new transactional business models enabling higher take rates

Transactional rentals C2B Mobility Revenue development NOK m¹ 2020 2021 2022 2023 Recommerce C2C Transactions3 >90% CAGR2 LTM

Continued delivery of solid financial results

Expansion of successful new concepts

Good progress in vertical transformation and platform consolidation

(NOK million)

13 Note: LTM per Q3 2024 (Q4 2023 + YTD Q3 2024); 1) Including pro-forma Autovex (2020-2022) and HomeQ (2020-2024) revenues. Focusing on transactional concepts as opposed to all transactional revenues (e.g., excl. sales of shipping labels in DBA); 2) CAGR '20-23; 3) Revenues from transactional "ship-it" products (Fiks Ferdig, Blocket Frakt med köpskydd, ToriDiili, and Plick)

Continuing our journey with strong momentum

Continued delivery of solid financial results

Expansion of successful new concepts

Good progress in vertical transformation and platform consolidation

Ability to replicate and roll out services across multiple markets - milestone reached with launch of Tori on our new Nordic platform

50% have heard about ToriDiili¹

14 Note: 1) Of the Finnish population, based on Schibsted traffic and market research data (NEPA)

Becoming Schibsted Marketplaces

We are transforming into a pure-play marketplace powerhouse, ready to Accelerate !

New name and identity to be launched soon…

The new Schibsted Marketplaces

Empowering people to make smart choices for themselves and future generations

Significant growth runway

Higher take rate Optimised classifieds models and scaling transactional models unlock potential

Schibsted Marketplaces revenues¹ NOK ~6bn

Not to scale (indicative)

NOK ~45bn

Larger market Tapping into large and growing markets in medium- to long-term

Total addressable market

19 Note: 1) SMP excl. Delivery; LTM per Q3 2024 (Q4 2023 + YTD Q3 2024) Source: Internal data and analysis (sum of Vertical's Total Addressable Market)

Accelerate Future Winners

Streamline the organisation and strategy to focus on key winners, reduce complexity and improve cost efficiency

Simplify Verticalise

Strengthen vertical expertise to go deeper and cater to increasing demands of our customers and users

Expand

Invest in future winners, particularly in areas like Mobility C2B, and Real Estate

Simplifying the portfolio

Near-term exits planned

… and majority of venture portfolio

Delivery kept during transition to pure-play parcel delivery company

Strong portfolio of marketplace positions across the Nordics

Legend: – Market position % – Top of Mind awareness1	Mobility	Real Estate	Jobs	3 Recommerce	Monthly visits per capita2
	83%	80%	66%	81%	24.4
	60%	31% Rentals	-	52%	7.4
	18%	-	-	47%	4.5
	37%	-	-	-	1.2
	-	-	-	72%	8.1
	-	37%	-	-	2.7
Several strong niche brands

22 Note: 1) Average of Top of Mind awareness (first place) during L3M (July-Sep '24); 2) Average of monthly visits during last 12 months (Sep '23 - Aug '24) divided by the full population in the country at 1 January '24; 3) Compared against Generalist recommerce players, not niche specialists. | Source: National Statistics offices; Schibsted traffic and market research data (NEPA)

A value-focused agenda across all Verticals

Innovate to unlock monetisation opportunities in classifieds. Win C2B in the Nordics.

Grow winning position in Norway, win in Finland, scale transactional rentals

Transform the Norwegian business model, exit Jobs in Sweden and Finland

Grow into strong Nordic Recommerce winners, monetise our positions and increase efficiency

Addressing legacy complexities and current cost base

In 2026 we expect to be able to launch new innovations in four different markets at the same time

Positioned for margin increase by delivering value and achieving cost efficiency

Capture the significant growth opportunity

Strengthen winning positions across the Nordics

Improve monetisation through superior products in Mobility, Real Estate, Jobs and Recommerce

Scale transactional models to capture higher take rates

Achieve cost efficiency on a solid foundation

Realise efficiency gains from a simpler company structure

Unlock scale benefits and speed by consolidating and closing legacy platforms

Leverage AI solutions to increase productivity

Financial medium-term targets

	Mobility	Real Estate	Jobs	Recommerce
Revenue growth	12-17%	12-17%	5-10%	>20%
EBITDA margin	55-60%	45-50%	>55%	Single-digit

Time to Accelerate Future Winners

Simplify

Simplify our portfolio and organisation, focusing on existing leadership positions

Verticalise

Deepen our vertical capabilities and scale to deliver superior products

Expand

Accelerate positions and concepts where we have the capabilities and playbook needed to win

Robin Suwe EVP Mobility

Mobility Vertical Deep Dive

30

SMP Mobility is the leading destination for used cars in the Nordics

Macro trends impact the pace of change, but the markets we are operating in remain highly attractive

Selected industry trends Opportunities for us

Shifting macroeconomics – creating unforeseen volatility in the auto industry

0%1 +1.5%1 +3%1

Used car markets in the Nordics remain stable and market insights become increasingly vital

Electrification – changing the value chain for dealers and established OEMs

C2C car market – continuing to decline with 6-8% decrease per year in the Nordics

Dealers intensify their focus on used cars through optimised sourcing and marketing

C2B and trade-ins are becoming increasingly important for market participants

We have delivered a robust financial performance with our classifieds positions and transactional models will lead the way

Financial overview

We are building our foundation to create more value for professional and private customers in the long-term

Monetisation in line with value delivered

We will focus on three key growth opportunities to take a larger share of the ~16bn Nordic addressable market

Growth opportunities and addressable market

We will unlock 2x opportunity from professionals through Nordic harmonisation and accelerated value delivery

ARPA is rising, with room for further growth (peer comparison)

Strategic launch of packages in Norway will boost value for dealers and drive ARPA growth

Liten Premium

Advertise on FINN

We will enhance dealer value continuously by leveraging unique data and integrated tool solutions

New packages allow more customers

Insights Optimise pricing by advanced car valuation - accessible for all through Basic

Platform tools Efficiently manage inventory and stay relevant for buyers

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Dealer branding Build reputation & reach by top-of-theline offerings

Lead attribution Understand impact of actions through clear effect communication

We are accelerating Private growth by transitioning to a differentiated pricing model and optimising the seller journey

Current gap in revenue per listing within SMP markets and vs peers

ARPA comparison to selected peers

Improved private seller value through a harmonised, differentiated listing model and optimised seller journey

We are accelerating Private growth by transitioning to a differentiated pricing model and optimising the seller journey

Current gap in revenue per listing within SMP markets and vs peers

ARPA comparison to selected peers

39

Note: 1) Internal analysis (2024)

Improved private seller value through a harmonised, differentiated listing model and optimised seller journey

We are accelerating Private growth by transitioning to a differentiated pricing model and optimising the seller journey

Current gap in revenue per listing within SMP markets and vs peers

ARPA comparison to selected peers

Improved private seller value through a harmonised, differentiated listing model and optimised seller journey

Optimised private seller experience

Guide sellers to make the best informed decisions in their journey

• Classified ad

• Online transaction (C2C)

• Dealer auction (C2B, Nettbil)

By guiding private sellers towards the right channel, we create better user experiences while increasing monetisation

C2B is growing and we aim to capture more of the Nordic TAM by scaling our existing positions and nailing Sweden

away

Number of cars sold on platform Breakdown of C2B models (YTD Sep 2024)

Mobility medium-term targets: 12-17% revenue growth and 55-60% EBITDA margin

Key drivers

• Utilise price and packaging headroom in Pro used cars
• Implement differentiated pricing models in Private used cars
• Scale C2B with Nettbil and AutoVex
• Margin expansion driven by revenue growth and disciplined cost agenda

We are well positioned to grow in our new and focused vertical set-up

Strong positions in attractive markets

Strong #1 positions in attractive markets with high digital maturity and leading EV penetration

C2B positioned for future growth

Clear plan and conviction to align C2B business models and scale the offering across our markets

Significant potential in classifieds

Solid headroom for growth in our classifieds positions across the Nordics

Innovation at scale

Firmly on the way towards innovation at scale with one common Nordic Mobility platform

44

Kjersti Høklingen

EVP Real Estate

Real Estate Vertical Deep Dive

46

Diverse portfolio with leading Real Estate positions in attractive Nordic markets

47 Note: 1) Last 3 month average, internal Schibsted traffic data; 2) Web traffic analysis (excluding app traffic) last 3 month average, SimilarWeb; 3) Internal analysis based on last 3 month average in monthly visits, internal and publicly disclosed competitor traffic data; 4) Based on new approved ads YTD Sep 2024 vs YTD Sep 2020, for Sweden only Qasa rental ads included Source: Schibsted data; SimilarWeb; Publicly disclosed competitor traffic data

Strong revenue performance driven primarily by Norway

Revenues and split by country NOK m, share for LTM in %

Norway revenue split LTM NOK m

Classified and transactional revenues NOK m

We are strengthening our flywheel across the housing journey to increase value creation

Unique marketplace data

Leveraging data driven insights to optimise product development and pricing strategies

Vertical expertise

Powering effective solutions & stakeholder engagement via deep Real estate expertise

Cross-Nordic synergies

Boosting innovation speed and operational efficiency through Nordic synergies

Vertical operating model powers rapid product expansion¹

Empowering informed decisions with comprehensive neighborhood insights

Interactive floor plans for increased engagement and future search optimisation

Note: 1) >2x increase in product release frequency compared to before vertical operating model (2023) 50

Three main value levers with opportunities across large addressable markets

52 Note: 1) Estimated Real Estate marketing spend excluding rental properties 2027; 2) New business models on total Nordic rental market inventory (C2C and B2C) and tenant monetisation 2027 Source: Internal data and research; National Statistics offices

FINN continues to be Norway's undisputed marketplace leader for Real Estate

98% Of all homes sold yearly are listed on FINN

5% Increase YoY YTD Sep '24 in monthly visits (all time high)

40min

Time that each Norwegian spends monthly

>1bn Notifications sent yearly

Agent satisfaction

53 Source: Schibsted data; National statistics

Robust growth in ARPA within Residential for sale, with clear headroom for further value creation

We are optimising value creation by enhancing the product package strategy in Norway

Increased value and optimised content & discount structure in packages

	Large	Medium	Small
Property marketing	✔ ✔ ✔	✔ ✔	✔
Insights	✔ ✔ ✔	✔	✔
Branding & visibility	✔ ✔	✔
Lead gen products	✔ ✔

Value-based pricing based on location and property value

Clear consumer communication on package offering and pricing

	Large
…	Medium
	Small

The Finnish market presents substantial growth potential from obtaining a clear #1 position

Revenue capture benchmarks of clear market leaders ARPA as share (%) of avg. property price

• Real Estate marketplaces demonstrate "winner takes most" dynamics
• Clear audience and lead attribution leadership is the most important threshold and enabler for monetisation

We have achieved strong momentum to accelerate growth

57 Note: 1) Monthly visits; 2) Internal analysis based on last 3 month average in monthly visits, internal and publicly disclosed competitor traffic data; 3) Active Pro and Private for sale ads; 4) Buying and selling Top of Mind; 5) Leads defined as contacts/applications on residential for sale ads Source: Schibsted data and market research data (NEPA); Publicly disclosed competitor traffic data

We have a focused strategy to achieve clear leadership and strong monetisation

Actively leveraging Nordic synergies and expertise

In Sweden, we have transformed our #1 rental classifieds position into a leading transactional offering with Qasa

GMV transacted¹ Qasa Sweden (SEK m)

We have acquired HomeQ which is highly complementary to Qasa

Complementary E2E solutions and attractive business models

Complementary E2E rental solutions

Breakdown of business models (LTM Sweden)

We have the prerequisites to scale transactional rentals across our Nordic brands with attractive profits

From three separate assets to one integrated, enabling efficient scaling across the Nordics

We are able to operate with a lean organisation and cost-efficient structure to grow revenues substantially

Projected transactional rental Revenues and EBITDA (NOK m)

61 Note: LTM per Q3 2024 (Q4 2023 + YTD Q3 2024)

~ 35% EBITDA

2030FC

1b

Real Estate medium-term targets: 12-17% revenue growth and 45-50% EBITDA margin

Key drivers

• Elevating product packages and new pricing model in Norway
• Scale transactional rental model
• Accelerating efforts to expand #1 position in Finland
• Margin expansion driven by revenue growth and disciplined cost agenda

Driving growth and leadership across the Nordic real estate market

Our Real Estate portfolio remains resilient, with leading positions across the Nordics

Expansion in the housing journey

We are continuing to expand in the housing journey, strengthening our network effects and empowering stakeholders

Strong leadership positions Focused growth strategy in classifieds

In Norway, we are elevating our offerings with product packages. In Finland, we are accelerating efforts to expand #1 position.

Scaling transactional rentals

Building on the success in Sweden we are scaling our transactional rental models across all markets with significant growth potential

Q&A

Link: sli.do Event code: #1011554

Break

Welcome back

Eddie Sjølie EVP Jobs

Jobs Vertical Deep Dive

We are a clear market leader and well positioned for future growth

	Top of Mind (vs closest competitor)	Monthly visits (vs closest competitor)	Ads published	Applications
Clear #1 position	66%1 (22x)	10.5m2 (12x)	281,8113	6.5m4

69 Note: 1) Average of Top of Mind awareness (first place) during L3M (July-Sep '24), compared to closest commercial player; 2) Average monthly total visits 2024 (FINN Data Warehouse), Competitor comparison: Web traffic only (Similarweb); 3) Unique ads 2023 including sourced/non-paid ads (c. 114k); 4) Apply clicks 2023 (FINN Data Warehouse)

Jobs Vertical has delivered strong growth for several years and over economical cycles

Classified revenue growth, FINN Jobs (NOK bn) ARPA development, FINN Jobs (NOK)

We have a great opportunity to grow our revenues, taking a larger share of a growing jobs market in Norway

Total recruitment market NOK ~6-7bn

Product innovation & New business models NOK ~4-5bn

Not to scale (indicative)

Unlocking potential from

• Growing number of job switches1, 2, 3
• Increased value of each job⁴
• Larger share of customer recruitment spending

71 Note: Addressable Market defined as willingness to pay for recruitment marketing for all job switches in Norway, adjusted for internal-only recruitments; 1) Internal data and research, Zippia, Business News Daily; 2) SSB total annual positions, Internal data and research; 3) Annual Jobs market survey 2021-24 (Schibsted marketing services), N= c. 2000 Q: "The last job you got, was it published? " A: "Yes, it was published externally"; 4) Internal data and research, SSB annual wage statistics, Market.us Europe Recruitment Marketing Platform Market Outlook

We have a balanced strategy combining growth opportunities with future-proof innovation

Value-based pricing represents substantial growth potential

Value-based pricing evolution (illustrative)

Growth drivers

• Increased granularity of segments
• Real time and predictive matching
• Utilise AI as an enabler in pricing
• Salary data and take rate
• Performance business models (e.g., CPA)

Pricing segments

Scope / revenue impact

Continued growth in the passive candidates market with great potential ahead

Significant growth opportunities amongst our largest and most professional customers

We have an all-time high position amongst candidates, leading in both active and passive job seekers

66%¹ Top of Mind

Traffic 10.5m²

Usage (active candidates) Usage (passive candidates) Job ads

Most job opportunities⁴

Government player Commercial player

76 Note: 1) Average of Top of Mind awareness (first place) during L3M (July-Sep '24); 2) Average monthly total visits 2024 (FINN Data Warehouse); 3) Survey Ipsos MMI, N = 1000 per month April 2024: Actives = looked for job online last 30 days, Passives = discovered job opportunities online without actively looking last 30 days; % refers to share of candidates using the particular service in this context; 4) Snapshot Ad count from sites as of 29/10/2024 (Indeed not enabling ad count in Norway)

A unique starting point to deepen our relationship with candidates that will improve our business further

77 Note: 1) FINN Data Warehouse / Amplitude data: Log-in rate and app visits 2023 monthly average, organic users YTD Sep 2024, unique users from non-paid traffic sources; 2) FINN Data Warehouse data / Amplitude, Avg. Apr-Sep 2024, logged-in users with profile vs non logged-in users

By fully leveraging AI, we will enhance our competitiveness and create a future-proof Jobs marketplace

Examples of our AI implementations Smart search

Candidate value

• Conversational search
• AI ad summary and application letters

Customer value

• AI enriched ad quality for improved effect
• Ad performance prediction

Efficiency gains

• Code generation, AI tools, and training
• AI detection of non-inclusive job ads

Natural language

+80% Apply rate¹

search

Our ambition Being a forerunner in AI in jobs marketplaces

We are on a solid path to create equal job opportunities for everyone

Raise the awareness and knowledge around DIB¹ amongst employers

Reduce bias in recruitment processes and create a more transparent jobs market

Customer consultation

Salary transparency Removing discriminating ads with the help of AI

89% of future employees consider responsibility as an important criterion when choosing a workplace²

79 Note: 1) Diversity, inclusion and belonging; 2) Candidate questionnaire 2023 N = 13,162

Jobs medium-term targets: 5-10% revenue growth and >55% EBITDA margin

Key drivers

• Value-based business models
• Audience extension products
• Customer-segment-based offerings tapping into underserved customer groups
• Margin expansion driven by revenue growth and disciplined cost agenda

We are better positioned than ever to tap into the growing recruitment market

Deepening the relationship with candidates

With a strong brand, high user engagement and unique data we will continue to deepen our relationship with candidates

Creating equal job opportunities for everyone

We will continue our journey to drive more fair and transparent job market

Expanding in a growing market

Recruitment market is growing and we are well positioned to take a larger part of the market

Accelerating growth through innovation

We have a solid growth trajectory driven by value-based business models and product innovation

Cathrine Laksfoss

EVP Recommerce and Delivery

Recommerce Vertical Deep Dive

< Content

83

Nordic recommerce is a young market with fast growth and untapped potential

Shift in consumer behaviour

Up to 80% of consumers purchased second-hand instead of new1

Investment and innovation

Incumbents, international specialists and start-ups drive new habits

New regulation

Circular Economy Action Plan, Sustainable Product Initiative, Digital Product Passport, and more

Nordics are still catching up

Mature recommerce markets have 4-5 times as many ads per capita²

The Nordic recommerce market is being shaped now

Our Recommerce portfolio is strongly positioned to capitalise on the accelerating market growth

Nordic recommerce leader

85

Recommerce has steadily grown revenues and improved profitability since the verticalisation of SMP

Recommerce continues to deliver competitive advantages benefiting the other Verticals

Traffic and leads

Recommerce is the primary driver of visit frequency and duration; showing a high

Recommerce is the primary driver of app downloads, app usage and log ins in the SMP portfolio, significantly contributing to data capture

Recommerce drives Top of Mind awareness and liking of our horizontal brands

Two main value levers position Recommerce for long-term financial success

To make circular consumption the obvious choice

monetise our winning positions Simplify the way we work and increase efficiency

We have achieved steady growth of C2C transactions, with further opportunities on the horizon

89 Note: 1) Measured as accepted bids, C2C.; 2) Q3 2023 vs Q3 2023

Our playbook for scaling C2C transactions delivers improvements every step of the funnel

Main drivers of C2C transactional growth YoY growth rate Q3 2024, FINN transactions Private new approved ads +8% Conversion to transactions +7% Opt-in rate +20% Headroom Average order value +7% +48% GMV Sold¹ +40% # of transactions1

FINN

We have successfully increased monetisation of C2C transactions in parallel with the strong volume growth

FINN

Our monetisation today

• Safe payment
• Shipping
• Insurance

Further levers to increase take rate

• Pricing
• Other value-added services
• Category management
• …and more

91 Note: 1) Q3 2024 vs Q3 2022

The successful launch of ToriDiili demonstrates our ability to replicate our transactional playbook across multiple markets

Conversion1		indexed	Purchase frequency2	Monetisation3
Launch	Scaling	Launch	Scaling	Launch	Scaling
10-15%	~20%	100	160-190	9-13%	16%
12%		100		16%
			Nordic C2C transactional model coming soon to all Nordic markets

Recommerce is leading the way in implementing the SMP Nordic operating model

consultancy cost respectively Nordic operating model

One Nordic platform One Nordic business model One Nordic business operation 3-4x

-25% and -60%

Reduction in FTEs¹ and

The amount of marketing campaigns and content produced with the same resources

AI-driven automation efforts already deliver results

	Customer Service Automated issue resolution, AI
	chatbot and ticketing automation effects:
	-50%
	Customer Service cost per
	transaction1

Recommerce medium-term targets: >20% revenue growth and positive single-digit EBITDA margin

Key drivers

• Market growth
• C2C transactions scaled in all four Nordic markets
• Gross profit expansion of C2C transactions
• Margin expansion driven by revenue growth and disciplined cost agenda

Unlocking value in the fast-growing Nordic recommerce market

Fast growing recommerce market

We are the Nordic recommerce leader, strongly positioned to capitalise on the opportunities of a fast growing market

Recommerce fuels the flywheel

Recommerce is the heartbeat of the horizontal brands and delivers valuable traffic, leads and data to all Verticals

Nordic operating model and AI

The Nordic operating model and AI enables us to innovate faster and the efficiency gains accelerate our path to profitability

Strong transactional playbook that scales

Our business is growing fast and our strong playbook will enable us to scale and monetise C2C transactions across all Nordic countries

Per Christian Mørland CFO

Financial framework

Shareholder value created by strategic moves

Transforming into a pure-play marketplace company

Reporting focused on the four Verticals

Significant revenue potential across all Verticals

	Mobility	Real Estate	Jobs	Recommerce
Revenue growth (medium-term)	12-17%	12-17%	5-10%	>20%
Key drivers	Utilise price and packaging headroom in Pro used cars Implement differentiated pricing models in Private used cars Scale C2B with Nettbil and AutoVex	Elevating product packages and new pricing model in Norway Scale transactional rental model Accelerating efforts to expand #1 position in Finland	Value-based business models Audience extension products Customer-segment based offerings tapping into underserved customer groups	Market growth C2C transactions scaled in all four Nordic markets Gross profit expansion of C2C transactions

Overview of current cost structure excluding Delivery

103 Note: 1) Numbers excluding Delivery; 2) Common product & technology

Structural cost efficiencies support margin expansion

1

Fit-for-purpose support functions All support functions like Finance, People, Enterprise IT etc. simplified and scaled to new company scope

Common technology platform 2

Efficiencies in Product and Technology function from operating on a single technology platform

Commercial efficiencies

More efficient commercial functions like Customer Service, Marketing and Sales. Improved return on marketing spend.

104 Note: 1) Numbers excluding Delivery

Significant margin expansion driven by revenue growth combined with structural cost agenda

105

Disciplined capital allocation

• Investing in selective acquisitions to create shareholder value
• Pay a progressive annual dividend¹
• Any surplus cash post the above will be returned to shareholders over time
• Maintain a conservative balance sheet

106 Note: 1) 2024 ambition: dividend of NOK 2.25 per share

Financial framework for sustainable value creation

Accelerate Future Winners

Simplify

Verticalise Expand

Strategy Medium-term targets Capital allocation

Mobility	Revenue growth: 12-17% EBITDA margin: 55-60%
Real Estate	Revenue growth: 12-17% EBITDA margin: 45-50%
Jobs	Revenue growth: 5-10% EBITDA margin: >55%

Revenue growth: >20% EBITDA margin: single-digit Recom.

• Investing in selective acquisitions to create shareholder value
• Pay a progressive annual dividend¹
• Any surplus cash post the above will be returned to shareholders over time
• Maintain a conservative balance sheet

Wrap-up

and Q&A

Time to Accelerate Future Winners

Build on our strong legacy

Continue being a front-runner in the marketplace industry

Focus on marketplaces

Become a pure-play marketplace company by exiting several assets

Be a force for good for society and the planet

Empowering people to make smart choices for themselves and future generations

Accelerate Future Winners

Simplify, verticalise, and expand to boost value creation

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Q&A

Link: sli.do Event code: #1011554