Q3/9M 2025 Results

Presentation

21 October 2025

Important Notice / APMs

This presentation as well as any information communicated in connection therewith (the "Presentation") contains information regarding TeamViewer SE (the "Company") and its subsidiaries (the Company, together with its subsidiaries, "TeamViewer"). It is provided for information purposes only and should not be relied on for any purpose and may not be redistributed, reproduced, published, or passed on to any other person or used in whole or in part for any other purpose.

Certain statements in this presentation may constitute forward-looking statements. These statements are based on assumptions that are believed to be reasonable at the time they are made, and are subject to significant risks and uncertainties, including, but not limited to, those risks and uncertainties described in TeamViewer's disclosures. You should not rely on these forwardlooking statements as predictions of future events, and TeamViewer's actual results may differ materially and adversely from any forward-looking statements discussed in these statements due to several factors, including without limitation, risks from macroeconomic developments, external fraud, lack of innovation capabilities, inadequate data security and changes in competition levels. TeamViewer undertakes no obligation, and does not expect to publicly update, or publicly revise, any forward-looking statement, whether as a result of new information, future events or otherwise. All subsequent written and oral forward-looking statements attributable to it or to persons acting on its behalf are expressly qualified in their entirety by the cautionary statements referred to above and contained elsewhere in this Presentation.

All stated figures are unaudited.

Percentage change data and totals presented in tables throughout this presentation are generally calculated on unrounded numbers. Therefore, numbers in tables may not add up precisely to the totals indicated and percentage change data may not precisely reflect the change data of the rounded figures for the same reason.

This document contains alternative performance measures (APM) that are not defined under IFRS. The APMs (non-IFRS) can be reconciled to the key performance indicators included in the IFRS consolidated financial statements and should not be viewed in isolation, but only as supplementary information for assessing the operating performance. TeamViewer believes that these APMs provide an additional, deeper understanding of the Company's performance.

TeamViewer has defined each of the following APMs as follows:

Adjusted EBITDA is defined as operating income (EBIT) according to IFRS, plus depreciation and amortization of tangible and intangible fixed assets (EBITDA), adjusted for certain business transactions (income and expense) defined by the Management Board in agreement with the Supervisory Board. Business transactions to be adjusted relate to sharebased compensation schemes and other material special items of the business that are presented separately to show the underlying operating performance of the business.
Adjusted EBITDA margin means Adjusted EBITDA as a percentage of revenue.
Annual Recurring Revenue (ARR) is annualized recurring revenue for all active subscriptions at the end of the reporting period. It is calculated by multiplying the daily subscription revenue at the end of the reporting period by 365 days (or 366 days for leap years). Daily subscription revenue is calculated as the total active contract value divided by the contract duration in days. The end of the reporting period is defined as the last calendar day of the respective period.
Retained ARR is defined as the ARR at the end of the reporting period from customers that were already a customer at the end of the prior-year reporting period.

Important Notice / APMs (continued)

Net Retention Rate (NRR) (cc) is defined as Retained ARR (cc) at the end of the reporting period divided by the Total ARR at the end of the prioryear reporting period.
Number of customers means the total number of paying customers with an active subscription at the reporting date.
SMB customers means customers with ARR across all products and services of less than EUR 10,000 at the end of the reporting period. If the threshold is exceeded, the customer will be reallocated.
Enterprise customers means customers with ARR across all products and services of at least EUR 10,000 at the end of the reporting period. Customers who do not reach this threshold will be reallocated.
Customer churn rate means the percentage of customers not retained during the last twelve-month period. It is calculated as 100% minus the number of customers that were retained (no new customers) during the last twelve months divided by the total number of customers twelve months ago.
Average Selling Price (ASP) is calculated by dividing the total ARR by the total number of customers at the reporting date.
Net financial liabilities are defined as financial liabilities (without other financial liabilities) less cash and cash equivalents.
Net leverage ratio means the ratio of net financial liabilities to Adjusted EBITDA of the last twelve-month period.
Levered Free Cash Flow (FCFE) means net cash from operating activities less capital expenditure for property, plant and equipment and intangible assets (excl. M&A), payments for the capital element of lease liabilities and interest paid for borrowings and lease liabilities.
Cash Conversion means the percentage share of Levered Free Cash Flows (FCFE) in relation to the Adjusted EBITDA.
Adjusted Net Income is the net income adjusted for certain income and expenses. These adjustments are: share-based compensation, amortization related to business combinations, other non-recurring income and expenses and related tax effects.
Adjusted basic earnings per share is calculated in line with basic earnings per share, whereby Adjusted Net Income is used as the basis for the calculation instead of the net income.
Constant currency (cc) comparisons eliminate the impact of exchange rate fluctuations between different periods.
"Pro forma" refers to TeamViewer group numbers including 1E numbers before closing (unaudited management view at the time of acquisition) as well as a reversal of negative M&A effects on revenue ("haircut") after closing. Pro forma numbers are prepared for comparative purposes and should be read in conjunction with financial statements. They are not necessarily indicative of the results that would have been attained if the transaction had taken place on a different date.

Business Overview

Oliver Steil (CEO) & Mark Banfield (CRO)

Continued profitable topline growth while undergoing strategic transformation

Pro forma Revenue growth of +4 % cc yoy; growth across all regions in cc

Pro forma ARR up 4 % cc yoy on the back of strong TeamViewer standalone Enterprise ARR of 18 % cc yoy; 1E standalone ARR lower than expected

Strong profitability with pro forma Adj. EBITDA Margin of 46 %; pro forma Adj. EPS €0.34 up +15 % yoy

Pro forma net leverage ratio improved to 2.8x, in line with deleveraging target

Further progress with product innovations and integration: autonomous endpoint management (AEM), agentic AI, DEX Essentials, TeamViewer One

Pro forma FY 2025 guidance updated

Revenue growth (cc) across all regions Enterprise ARR up 12% cc and revenue up 8% cc yoy

Regional Development Customer Categories

Q3 Revenue €192.0m (+3 % | 4 % cc)

Continued growth in Enterprise across all ARR value ranges

Continued good progress on 1E post merger integration

Accelerate business growth and maximize customer benefits as quickly as possible

Expected Duration Post-Closing

0-3 months 4-6 months 7-9 months 10-12 months

Go-to-Market

Enabled Enterprise cross-selling and pipeline generation

Mobilized SMB cross-selling with DEX Essentials

Integrated Go-to-Market offering with TeamViewer ONE

Today

Products & Technology

Cross-product integration to enhance visibility and access between solutions

Integrated product strategy and roadmap; continue to invest in joint capabilities across solution suite and bundle it in TeamViewer ONE as our Digital Workplace platform

Processes & Infrastructure

Removed barriers to cross-product adoption Implemented and aligned processes across departments

Harmonized technology infrastructure, network, and business applications

Progress (indicative)

The transformation is still ongoing - concrete actions to address 1E performance

Current Business Impact

1E standalone performance

Pipeline conversion in Q3 slower than expected and several churned customers
Post-merger integration focus impacted original sales motion and product prioritization
US and EU macro headwinds slowed customer decision-making and reduced deal volumes

Concrete Actions

Improve go-to-market setup for DEX ENT

Sales Leadership Consolidation: M. Banfield appointed Chief Revenue Officer (CRO) to unify global sales teams and harmonize go-to-market functions.
Customer-Centric Setup: Chief Customer Officer (CCO) D. Lillitos is building global customer success and support organization to improve experience and loyalty.
Marketing Realignment: Marketing bundled under O. Steil (CEO) to support GTM priorities.
Retention & Pipeline Development: Focus on retaining existing 1E customers and converting Q4 pipeline; building strong DEX ENT pipeline for next year and beyond.

Continue introducing DEX capabilities into TMV' existing customer base

DEX Essentials Adoption: Broaden DEX Essentials penetration in existing SMB customer base.
Platform Development: Combine TMV + 1E technology into TeamViewer ONE to lead in Digital Workplace and Autonomous Endpoint Management (AEM).

Short-term softness in performance, but TeamViewer is taking actions for long-term sustainable growth

DEX Essentials adoption is gaining momentum among SMBs

TeamViewer DEX Essentials

Proactive IT with real-time visibility, automated fixes, and zero disruption.

number of customers using DEX capabilities within last 9 months

100k

endpoints using DEX Essentials as of mid Oct 2025

Agentic AI: Our right to win builds on our unique AI proposition, combining data and capabilities

Transforming the digital workplace management by embedding AI at its core

Financial Overview

Michael Wilkens (CFO)

Q3 2025: Continued topline growth with strong Adj. EBITDA margin

Topline KPIs Q3 2025 Profitability / Cash Q3 2025 (% and pp yoy; pro forma) (% and pp yoy; pro forma) Revenue ARR ENT ARR €192.0m +3 %/+4 % cc €756.8m +3 %/+4 % cc €230.5m +11 %/+12 % cc Adjusted EPS Adjusted EBITDA Margin Adjusted EBITDA €0.34 +15 %¹ 46 % -1 pp €87.7m +1 %

97 % adj. for net upsell from SMB: 102 %

Net Leverage Ratio

2.8x

ENT NRR (cc)

Compared to TeamViewer standalone Q3 2024.

Q3 2025: Top line impacted by ongoing transformation strong profitability with 46% margin

Quarterly Revenue and Growth Rates (€m; %; pro forma, Q3-Q4 2024 yoy growth rates reflect TeamViewer standalone) 195.3 190.3 192.0 190.7 186.8 8 % (9 % cc) 7 % (7 % cc) 5 % (6 % cc) 3 % (4 % cc) Q3 2024 Q4 2024 Q12025 Q2 2025 Q3 2025

Double-digit Enterprise ARR growth on the back of strong performance of TeamViewer ENT standalone

^<sup>1 Since Q1 2025, ASP is calculated based on ARR. Prior year numbers have been restated based on ARR. | ² Since Q1 2025, the number of customers is calculated based on ARR. Prior year numbers have been restated based on ARR.

Strategic investment in SMB ecosystem long-term impacted SMB ARR and related KPIs in short-term

Strong Adj. EBITDA margin of 46 %

in € million	Q3 2025 Pro forma	Q3 2024 Pro forma	Δ%	9M 2025 Pro forma	9M 2024 Pro forma	Δ%
Revenue	192.0	186.8	+3%	572.9	544.7	+5%
Cost of Goods Sold (COGS)	(15.1)	(15.1)	+1%	(46.8)	(44.7)	+5 %
Gross profit	176.8	171.7	+3%	526.1	500.0	+5%
% Margin	92 %	92 %	Орр	92 %	92 %	0 рр
Sales	(30.4)	(28.8)	+5 %	(91.9)	(85.8)	+7%
% of Revenue	-16 %	-15 %		-16 %	-16 %
Marketing	(23.9)	(23.2)	+3 %	(80.2)	(93.7)	-14 %
% of Revenue	-12 %	-12 %		-14 %	-17%
R&D	(21.8)	(21.9)	0 %	(65.4)	(62.4)	+5 %
% of Revenue	-11 %	-12 %		-11 %	-11 %
G&A	(11.3)	(9.9)	+14 %	(30.7)	(27.8)	+10 %
% of Revenue	-6 %	-5 %		-5 %	-5 %
Other ¹	(1.7)	(1.0)	+67 %	(4.5)	(3.7)	+24 %
% of Revenue	-1 %	-1 %		-1 %	-1 %
Total Opex	(89.1)	(84.8)	+5%	(272.7)	(273.4)	0 %
% of Revenue	-46 %	-45 %		-48 %	-50 %
Total Costs ²	(104.2)	(99.9)	+4%	(319.5)	(318.1)	0%
Adjusted EBITDA	87.7	86.9	+1%	253.4	226.6	+12%
% Margin	46 %	47%	- 1 pp	44 %	42 %	3 pp

¹ Incl. other income/expenses and bad debt expenses of €3.6m in Q3 2025 and €2.8m in Q3 2024 / €9.0m in 9M 2025 and €8.1m in 9M 2024.

Q3 2025 pro forma Recurring Cost up 4 % yoy

COGS: Broadly stable yoy
Sales: higher yoy, driven by investment in Enterprise tech stack to support data-driven sales transformation
Marketing: higher yoy, reflects planned phasing and investments in branding, TeamViewer One, and Alrelated product launches
R&D: flat yoy
G&A: mainly due to phasing and regulatory-related costs

^<sup>2 Total Costs are the sum of Cost of Goods Sold (COGS) and Total Opex.

Pro forma Adj. EPS up 15 % yoy vs. TMV standalone

€m	Q3 2025 Pro forma	Q3 2024 TMV standalone	∆ %	9M 2025 Pro forma	9M 2024 TMV standalone	∆ %
EBITDA	82.0	74.1	+11 %	227.8	187.3	+22 %
D&A	(13.4)	(9.1)	+48 %	(40.8)	(37.6)	+8 %
Operating Profit (EBIT)	68.6	65.0	+6 %	187.1	149.7	+25 %
Financial / FX result	(26.4)	(4.1)	>+300 %	(62.4)	(13.9)	>+300 %
Share of profit/loss of associates	(0.5)	(0.8)	-35 %	(3.7)	(2.9)	+27 %
Profit before tax (EBT)	41.7	60.1	-31 %	121.0	132.8	-9 %
Income taxes	(10.6)	(20.6)	-49 %	(40.0)	(44.5)	-10 %
Net income	31.1	39.5	-21 %	81.0	88.4	-8 %
Basic number of shares issued and outstanding1 in m	157.0	158.4	-1 %	157.0	161.4	-3 %
EPS (basic) in €	0.20	0.25	-20 %	0.52	0.55	-6 %
Pro forma Adjusted EPS (basic)2 in €	0.34	0.29	+15 %	0.91	0.75	+21 %

Total interest expenses of €10.4m in Q3 2025, up €6.1m yoy; driven by the financing of the 1E transaction
Lower Financial / FX result due to negative FX translation effect related to an intercompany loan, as required under IFRS
Lower share count due to last year's share buybacks
Lower Income taxes due to a catchup effect due to the German tax rate decrease

Period average, without treasury shares.

Pro forma is only calculated for Q3/9M 2025.

FCFE Conversion of 49 % YTD

€m	Q3 2025 Non-pro forma1	Q3 2024 TMV standalone	∆ %	9M 2025 Non-pro forma2	9M 2024 TMV standalone	∆ %
Pre-Tax net cash from operating activities (IFRS)	46.7	66.3	-30 %	177.3	211.9	-16 %
Capital expenditure (excl. M&A)	(1.4)	(1.3)	+15 %	(5.2)	(4.2)	+23 %
Lease payments	(3.8)	(1.9)	+97 %	(10.6)	(7.3)	+45 %
Pre-tax Unlevered Free Cash Flow (pre-tax UFCF)	41.5	63.2	-34 %	161.6	200.4	-19 %
Cash Conversion (pre-tax UFCF / pro forma Adjusted EBITDA)	47 %	78 %		64 %	94 %
Interest paid for borrowings and lease liabilities	(9.4)	(3.5)	+169 %	(29.1)	(12.9)	+125 %
Pre-tax Levered Free Cash Flow (pre-tax FCFE)	32.1	59.7	-46 %	132.5	187.4	-29 %
Cash Conversion (pre-tax FCFE / pro forma Adjusted EBITDA)	37 %	74 %		52 %	88 %
Income tax paid	(12.7)	(18.4)	-31 %	(32.9)	(44.8)	-27 %
Levered Free Cash Flow (FCFE)	19.4	41.3	-53 %	99.6	142.6	-30 %
Cash Conversion (FCFE / pro forma Adjusted EBITDA)	22 %	51 %		39 %	67 %
Adjustment for 1E acquisition	1.7	–		14.0	–
Adjustment for a one-off payment in connection with special legal disputes	–	–		11.6	–
Levered Free Cash Flow (FCFE) adj. for 1E and legal disputes	21.1	41.3	-49 %	125.1	142.6	-12 %
Cash Conversion (FCFE / Pro forma Adjusted EBITDA) after adjustments	24 %	51 %		49 %	67 %

Decrease of pre-tax UFCF in Q3 2025 driven by moderate top-line growth, primarily due to 1E seasonality, higher operating costs and additional contractual commitments
Lower pre-tax FCFE due to higher interest payments related to the 1E acquisition
Lower tax payments as anticipated due to changes in tax scheme and phasing effects

Includes 1E July through September 2025.

Includes 1E February through September 2025.

Pro forma net leverage ratio improved to 2.8x in line with deleveraging target

^<sup>1 Net cash from operating activities (after tax). | ² Mainly consists of payments capital element of lease liabilities, payments for financial assets and FX effects. | ³ Including lease liabilities. | ⁴ Calculated on proforma Adj. EBITDA LTM of €342.2m.

FY 2025

Pro forma guidance updated

which breaks down approx. into:³ Adj. EBITDA margin % ARR in € (equivalent to YoY %) Revenue in € (equivalent to YoY %) Current FY 2025 Guidance, pro forma 1,2,3 (Jan 1 - Dec 31, 2025) around 43 % 707m - 722m 71m - 75m around 44 % 780m - 800m ( +2.9% to +5.5%) At low end of range: 778m - 797m ( +5.1 % to +7.7 % ) Previous FY 2025 Guidance, pro forma1,3 (Jan 1 - Dec 31, 2025) 815m - 840m ( +7.5 % to +10.8 % ) 778m - 797m ( +5.1 % to +7.7 % ) 697m - 712m 81m - 85m TeamViewer 1E

1. Ranges indicate guidance ranges between the specified values
2. Based on assumptions on main FX rates as of Q4 2024 (12 February 2025): EUR/USD 1.05; EUR/CAD 1.49; EUR/JPY 161.0; EUR/AUD 1.65 3. As 2025 is a transition year, breakdown of TeamViewer & 1E standalone is provided for information purposes only in 2025
Under guided FX rates² , total ARR is now expected in the range of €780m – €800m (previously €815m –€840m)
Despite this ARR shortfall, fullyear Revenue is expected to remain within the original FY 2025 guidance range (€778m – €797m),²albeit at the low end.
The guidance for the Adjusted EBITDA margin is increased to around 44% (previously around 43%),² driven by rigorous costmanagement.

FY 2025 Pro forma ARR and Revenue guidance ranges updated with operational and FX impact

FY 2025 ARR

(pro forma % yoy, in €m)

0.3% to 2.9% 7.5 % to 10.8 % 2.9 % to 5.5 % 840 (40)800 ~(20) 780 815 (35)780 760 FX Prev. FY Operational Current FY Current FY Guidance Guidance Impact Guidance Impact (incl. FX Impact) Of the €(20)m FX headwind,

€(12)m realized in 9M YTD

€/\$: from 1.05 to 1.14

€/CAD: from 1.49 to 1.58

€/¥: from 161.0 to 167.2

€/AUD: from 1.65 to 1.76

FY 2025 Revenue

(pro forma, % yoy, in €m)

Reduced 2025 ARR expectations impact FY 2026 Revenue

FY 2026 Revenue - preliminary view

(pro forma % yoy, in €m)

€/\$: from 1.05 to 1.14 €/CAD: from 1.49 to 1.58 €/¥: from 161.0 to 167.2 €/AUD: from 1.65 to 1.76

Management remains
highly committed to
accelerate ARR growth in
2026 and beyond
However, the reduced 2025
ARR expectations do impact
2026 Revenue
2026 outlook is based on average 2025 FX rates

Q&A

Appendix

Overview Topline KPIs

	Q3 2025 Pro forma	Q2 2025 Pro forma	Q1 2025 Pro forma	Q4 2024 Pro forma	Q3 2024 Pro forma	Q2 2024 Pro forma
SMB
ARR2 in €m	526.3	532.0	535.2	533.4	529.6	528.8
ASP (ARR) in €	821.9	816.9	812.9	802.8	796.3	796.2
Number of customers1	640,342	651,221	658,327	664,461	665,147	664,197
Enterprise
ARR2 in €m	230.5	227.1	224.4	223.9	208.0	201.5
ASP (ARR) in € thousands	44.2	44.2	44.5	45.2	44.3	44.1
Number of customers1	5,216	5,143	5,044	4,957	4,698	4,573
Total
ARR in €m	756.8	759.1	759.5	757.4	737.6	730.3
Revenue in €m	192.0	190.7	190.3	195.3	186.8	180.8

Incremental improvements in methodology of parent-child account relationships / the merging of multiple customer accounts led to minor adjustments in the historical ARR segmentation for TeamViewer ENT and SMB.

After implementation of the ARR methodology, the number of customers is now calculated based on ARR. 2024 numbers have been restated based on ARR.

Q3 2025: Reconciliation management metrics to IFRS

in EUR million	Pro forma Management view adjusted P&L	Pro forma adjustments	Management view Revenue adj. P&L	D&A	Other non-IFRS adjustments	Accounting view IFRS P&L
Revenue	192.0	(2.5)	189.5			189.5
Cost of Goods Sold (COGS)	(15.1)		(15.1)	(9.9)	(0.1)	(25.1)
Gross profit contribution	176.8	(2.5)	174.3			164.4
% of Revenue	92 %	100 %	92 %			87 %
Sales	(30.4)		(30.4)	(1.2)	0.2	(31.4)
Marketing	(23.9)		(23.9)	(0.7)	(0.9)	(25.5)
R&D	(21.8)		(21.8)	(1.2)	(0.5)	(23.5)
G&A	(11.3)		(11.3)	(0.4)	(2.5)	(14.1)
Other1	(1.7)		(1.7)	0.0	(2.0)	(3.7)
Adj. EBITDA	87.7	(2.5)	85.2
% of Revenue	46 %		45 %
D&A (ordinary only)2	(5.2)		(5.2)
Adj. EBIT / Operating profit (EBIT)	82.5	(2.5)	80.1	(8.2)3	(5.7)	66.1
% of Revenue	43 %		42 %			35 %
D&A (total)2+3						13.4
EBITDA						79.5
% of Revenue						42 %

Incl. other income/expenses and bad debt expenses of €3.6m

² D&A excl. amortization intangible assets from PPA

³ Amortization intangible assets from PPA

9M 2025: Reconciliation management metrics to IFRS

€m	Pro forma Management view adjusted P&L	Pro forma adjustments	Management view Revenue adj. P&L	D&A	Other non-IFRS adjustments	Accounting view IFRS P&L
Revenue	572.9	(19.0)	553.9			553.9
Cost of Goods Sold (COGS)	(46.8)	0.7	(46.1)	(26.6)	(1.6)	(74.3)
Gross profit contribution	526.1	(18.4)	507.7			479.6
% of Revenue	92 %	97 %	92 %			87 %
Sales	(91.9)	2.2	(89.7)	(4.8)	(3.9)	(98.4)
Marketing	(80.2)	0.6	(79.6)	(2.5)	(2.8)	(85.0)
R&D	(65.4)	1.7	(63.7)	(5.1)	(2.7)	(71.5)
G&A	(30.7)	0.5	(30.2)	(1.8)	(13.4)	(45.4)
Other1	(4.5)	0.5	(4.1)	0.0	8.0	3.9
Adj. EBITDA	253.4	(13.0)	240.4
% of Revenue	44 %		43 %
D&A (ordinary only)2	(19.1)	0.0	(19.1)
Adj. EBIT / Operating profit (EBIT)	234.3	(12.9)	221.3	(21.7)3	(16.4)	183.2
% of Revenue	41 %		40 %			33 %
D&A (total)2+3						40.7
EBITDA						223.9
% of Revenue						40 %

Incl. other income/expenses and bad debt expenses of €9.0m