Disclaimer

The presentation (the "Presentation") has been produced by Xplora Technologies AS (the "Company") for information purposes only and does not in itself constitute, and should not be construed as, an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction. The distribution of this Presentation may be restricted by law in certain jurisdictions, and the recipient should inform itself about, and observe, any such restriction. Any failure to comply with such restrictions may constitute a violation of the laws of any such jurisdiction.

This Presentation includes and is based, inter alia, on forward-looking information and contains statements regarding the future in connection with the Company's growth initiatives, profit figures, outlook, strategies and objectives. All forward-looking information and statements in this presentation are based on current expectations, estimates and projections about global economic conditions, the economic conditions of the regions and industry in which the Company operates. These expectations, estimates and projections are generally identifiable by statements containing words such as "expects", "believes", "estimates" or similar expressions. Important factors may lead to actual profits, results and developments deviating substantially from what has been expressed or implied in such statements. Although the Company believes that its expectations and the Presentation are based upon reasonable assumptions, it can give no assurance that those expectations will be achieved or that the actual results will be as set out in the Presentation.

The Company is making no representation or warranty, expressed or implied, as to the accuracy, reliability or completeness of the Presentation, and neither the Company nor any of its directors, officers or employees will have any liability to you or any other persons resulting from your use.

This Presentation speaks as at the date set out on herein and will not be updated. The following slides should also be read and considered in connection with the information given orally during the Presentation.

This Presentation is subject to Norwegian law, and any dispute arising in respect of this Presentation is subject to the exclusive jurisdiction of Norwegian courts.

Q3 2025

Results Presentation Xplora Technologies AS

Oslo, November 26

Q3 2025 reporting

1. Q3 highlights
1. Financial update
1. Market & performance update
1. Post quarter events
1. Outlook

Q3 25 at a glance

Group revenue

NOK 510m +103% y/y

Recurring services

NOK 90 m +19% y/y

Subscriptions

443k (+116k) +36% y/y

Gross profit

NOK 263m +122% y/y

Reported EBITDA

NOK 72m + NOK 41m

Cash balance

NOK 426m +141%

Priorities: Doro Sales

Doro has maintained stable —though slightly declining —sales over the past few years. Given that Doro ships twice as many mobile devices as Xplora, and that device volume is a key driver for our high-margin service revenues, increasing total phone units is a strategic priority. To explore if we can accelerate growth, the following initiatives has been executed:

1) Leverage on transition to 4G
2) Sales initiatives in new markets
3) Launch of new Feature phone series
4) Launch of new Smartphone series

Sales increase Year over Year

Priorities: Channel

Optimize channel strategy and increase our D2C focus with building stronger E-commerce team and solutions ²

Further improved quality of earnings and higher service revenues from a higher share of D2C sales, as these generate more SIM attachments

Example on Channel mix development in Germany, our largest market

Develop a second generation X6Play, built on a new platform to reduce COGS ³

Increased unit profitability on new series of devices

Gross profit development Kids & Youth YTD 2024 YTD 2025

Execution yielding clear results

D2C channel driving watch activations

E-commerce investments increasing SIM attachment Driving high-margin subscription growth

Highest quarterly sell-out in the company's history

Top three business KPIs forward:

Gross Profit Growth

✓ Reflects real business performance

Subscription Base Growth (ARR)

✓ Clear indicator of sustainable, competitive growth

EBITDA (after Capex) development

✓ Reflects underlying cash-generating ability

Q Reporting Insight

✓ P&L and balance
✓ Breakdown of markets, channels and products:
✓ Subscriptions
✓ Activations (sell-out)
✓ Unit sales (sell-in)

Financial update

Knut Stålen CFO

NOK 24m YTD one-offs, incl. NOK 4.6m in Q3 (Senior mgmt. changes).

Reported figures

NOK million	Q3 2025	Q3 2024	% change	YTD 2025	YTD 2024	% change
Subscriptions (k)	443	326	36%	443	326	36%
Revenue	510	251	103%	1 312	558	135%
Gross Profit	263	118	122%	685	278	146%
Gross Margin	52%	47%	5pp	52%	50%	2pp
EBITDA reported	72	31	133%	140	52	169%
Capex	13	6	101%	44	14	220%
EBITDA after CAPEX	59	25	141%	96	38	151%

Q3 financial summary

Proforma comparison

NOK million	Q3 2025	Q3 2024 Pro forma	% change	YTD 2025	YTD 2024 Pro forma	% change
Subscriptions (k)	443	326	36%	443	326	36%
Revenue	510	474	8%	1 312	1 187	10%
Gross Profit	263	231	14%	685	566	21%
Gross Margin	52%	49%	Зрр	52%	48%	4pp
EBITDA reported	72	72	0%	140	126	11%
Capex	13	16	-19%	44	41	7%
EBITDA after CAPEX	59	56	5%	96	85	13%

The combined pro forma results reflect the aggregated historical performance of both legacy entities, adjusted for alignment in accounting policies and currency. These are presented for informational purposes and do not represent actual historical results.

Key Figures Q3 25