Tieto Corporation · OMXHEX:TIETO
Tieto — Investor Presentation (April 2026)
72 slides from Tieto's investor presentation, April 2026
Slide 1: Tieto Investor Presentation
Tieto Investor Presentation April 2026
Slide 2: Investment highlights
1. Leading position in resilient Nordic markets 2. Focused software mix with high recurring revenue 3. Clear path to margin Investment highlights expansion 4. Scalable growth through selective European expansion 5. Strong positioning to benefit from AI transformation Investor presentation 2
Slide 3: Tieto in brief
Tieto in brief Investor presentation 3
Slide 4: Leading software and digital consulting company with a strong Nordic heritage
Leading software and digital consulting company with a strong Nordic heritage and global capabilities 14 000 professionals globally Global delivery centres Customers deliveries Thousands The Nordics of customers Serving customers worldwide Annual revenue ⁓ € 1.9 billion Investor presentation 4
Slide 5: Our businesses
Our businesses Technology consulting Healthcare and social Financial services Portfolio of niche care software software software and data platforms Investor presentation 5
Slide 6: Tieto in numbers
Tieto in numbers Revenue Adjusted operating profit (EBITA) 2025 2025 14 % 13 % 32 % 13 % 21 % € € 1,852 million 42 % 257 million 31 % 34 % Tech Consulting Banktech Caretech Indtech Tech Consulting Banktech Caretech Indtech Investor presentation 6
Slide 7: Trusted by leading brands in the Nordics and globally
Trusted by leading brands in the Nordics and globally Investor presentation 7
Slide 8: Advancing in sustainability
Advancing in sustainability Achievements in 2025 Our focus Rating A in Climate category on Carbon Disclosure Project (CDP) Science Based Targets initiative (SBTi) validated Tieto’s new long- Climate term ambitions and net-zero in full action Social value chain by 2040 impact Tieto India recognized a
Slide 9: Group Executive Team
Group Executive Team Ari Järvelä Mario Blazevic Bent Philipps Johan Enger Nygaard Jussi Tokola Tieto Caretech Tieto Banktech Tieto Indtech Tieto Tech Consulting General Counsel, Managing Director Managing Director Interim Managing Director Interim Managing Director Head of Group Legal and Compliance
Slide 10: Largest shareholders
Largest shareholders # Owner Capital 1 Silchester International Investors LLP 14.1% 2 Solidium Oy 10.8% 3 Incentive AS 5.9% 4 Norges Bank Investment Management 3.6% 5 Vanguard 3.6% 6 BlackRock 3.4% 7 Dimensional Fund Advisors 2.9% 8 Ilmarinen Mutual Pension Insurance Company 2.3% 9 JPMorgan Asset Ma
Slide 11: Strategy and financial targets
Strategy and financial targets Investor presentation 11
Slide 12: Strategy rejuvenated – execution through 4 strategic priorities
Strategy rejuvenated –execution through 4 strategic priorities Our strategy We execute through Our success is measured for 2026-2028 4 strategic priorities by our financial targets Become European software and technology consulting market leader within selected 01 Customer first Growth (CAGR 2027-20
Slide 13: Customer first
Customer first Targets – growth through stronger customer relationships Actions – sharpen our commercial focus From product-driven to customer-centricity Improved customer Strengthen client ownership satisfaction and • Segmentation and prioritization loyalty • • Roles and responsibilities Key accoun
Slide 14: Simplified core
Simplified core Focused software Industry verticals Care providers Banks Niche industries and services supplier to strengthen customer centricity Tech Consulting Caretech Banktech Indtech • Focus on core • Grow Nordic • Leverage • Optimize portfolio verticals and healthcare software Nordic position
Slide 15: Selective expansion
Selective expansion Nordic Grow faster From strong Nordic roots to than market broader European growth Strengthen market leadership in core Nordic markets Europe >€500 million 03 Total Contract Value from Europe by 2028 • Selected software products • Spain, Portugal, Germany, Switzerland, Austria, U
Slide 16: Competitive cost base
Competitive cost base Driving a leaner, more 130 competitive cost base • Reduce SG&A • Adjust delivery capacity • Consolidate supplier base • Reduce purchasing volumes • Rationalize and right-size facilities million 04 run-rate savings by end of 2026 Investor presentation 16
Slide 17: Solid progress in execution of 4 strategic priorities
Solid progress in execution of 4 strategic priorities 01 Customer 02 Simplified 03 Selective 04 Competitive first core expansion cost base ▪ Long–term contracts secured ▪ Divestment of Bekk Consulting ▪ Tieto Iberia established to drive ▪ Run-rate savings of €105m closed expansion in the Iberian mar
Slide 18: AI reshaping our industry – Tieto well positioned
AI reshaping our industry – Tieto well positioned to capture the AI opportunities WHO WINS IN AN AI-DRIVEN MARKET? OUR COMPETITIVE EDGE Q1’26 AT TIETO Vendors with Tieto has a strong Tangible AI advancements • Vertical software foundation to scale AI • AI tooling embedded in all • Business-critical
Slide 19: We measure our success by realistic and achievable financial targets
>5% We measure our Growth1) success by realistic and achievable financial (CAGR 2027–2028) targets >16% Profitability2) 60-80% Dividend distribution of net profit <2 x Net debt/ EBITDA 1) Revenue growth, mainly organic 2) Adj. EBITA in 2028 19
Slide 20: Profitable growth is driven by rigorous execution
Profitable growth is driven by rigorous execution – 2026 to be a year of execution and transition Revenue Profit Adj. EBITA CAGR >5% >16% Cost optimization Year of programme execution & transition €240 m €1.9 bn LTM Q3’25 End of 2026 Nordic core Selective Tech 2028 LTM Q3’25 End of 2026 Growth Produ
Slide 21: Our new capital allocation principles
Our new capital allocation principles enable growth focus while delivering attractive shareholder returns 01 Invest in With excess capital organic growth 02 Dividend 60-80% Share buybacks of net profit Extraordinary dividends 03 Deleveraging to <2x net debt/EBITDA 21
Slide 22: Tieto Tech Consulting
Tieto Tech Consulting Investor presentation 22
Slide 23: Tieto Tech Consulting
Tieto Tech Consulting Global digital engineering expertise with Nordic heritage Nordics 2160 Baltics 220 Western Europe 320 Eastern China USA Europe 800 80 3400 India 1080 Markets (GTM) LATAM 130 Competence Centers Investor presentation 23
Slide 24: World-class digital engineering services
World-class digital engineering services Digital Product, Service & Applications development Human centric Design-led engineering and Customer experience Data driven and Intelligent business Data and AI Data and AI strategy, Data management & Platforms, Analytics, Data & AI Engineering Cloud and Adv
Slide 25: Industry knowledge expertise
Industry knowledge expertise Healthcare Financial Services Telecommunications Automotive Manufacturing Photo placeholder Public Energy & Utilities Agriculture CPG & Retail Transportation Investor presentation 25
Slide 26: Tieto Tech Consulting in figures
Tieto Tech Consulting in figures Revenue, €m Adj. EBITA, €m Personnel, end of period Revenue composition 13.8% 13.4% 9 618 8 989 8 831 849 851 837 12.0% 11.9% 7 675 789 117 114 100 94 a 2022 2023 2024 2025 2022 2023 2024 2025 2022 2023 2024 2025 Offshore Onshore International Finland Sweden Norway a
Slide 27: We are executing a change in three key areas to improve performance
We are executing a Customer Focus on strategic change in three key centricity customers areas to improve performance Service mix Prioritize high growth areas as part of IT services Operational Simplification of organization to improve efficiency decision making and SG&A Investor presentation 27
Slide 28: Clear targets to improve customer centricity, service mix and efficiency
Clear targets to improve customer centricity, service mix and efficiency 60 Customer Focus on strategic • Industry focus on Banking, Healthcare, Public and Telecom customers centricity and prospects • Strengthen key account management and increase hunting sales +15% • Expand in AI, cloud and data •
Slide 29: Our strategic choices set the course for growth
Our strategic choices set the course for growth Revenue Profit Adj. EBITA CAGR >3% Year of execution & Cost optimization transition >12% €789m programme €94m 2025 End of 2026 Strategic Service 2028 2025 End of 2026 Growth Productivity 2028 customers mix Investor presentation 29
Slide 30: We have a clear path to improve growth and profitability
We have a clear path to improve growth and profitability >3% 01 Improved customer Growth centricity and service mix to accelerate growth 02 AI, cloud and data are creating new >12% opportunities Profitability 03 Focus on internal efficiency to improve profitability Investor presentation 30
Slide 31: Tieto Banktech
Tieto Banktech Investor presentation 31
Slide 32: We are positioned at the sweet spot of banking digitalization
We are positioned at the sweet spot of banking digitalization Banking revenue Key capabilities 2025 Proven track-record for driving 15% 25% digital bank transformations savings and payments investments 24% 68% 78% recurring revenue BaaP software* € 586 software suite 10% 35% 400+ million loans and c
Slide 33: Tieto Banktech in figures
Tieto Banktech in figures Revenue, €m Adj. EBITA, €m Personnel, end of period Software business revenue streams 17.3% 586 3 454 3 509 3 296 580 14.2% 3 139 Share of recurring revenue 571 12.1% 12.4% 78%, comprised mainly of 567 maintenance, as-a-Service 101 and application 81 72 management (part of
Slide 34: Our Nordic market leader position sets a solid foundation
Our Nordic market leader position sets a solid foundation for future growth Unique position Nordic growth strategy Ambition > 1 bn • Deeply rooted trust Increase • Grow at or above share-of-wallet by: € market >5% relationship with Nordic banks • Up-selling Nordic order backlog • Maintaining • Prove
Slide 35: Selected SaaS solutions suited for European roll-out
Selected SaaS solutions with proven Nordic success are well suited for of European roll-out Expansion in UK, Spain, Germany, Austria, Switzerland Card, Payment , Financial Crime Prevention, ATM Flexible go-to-market model with local sales Our highly competitive solutions fit for market Home market w
Slide 36: Transitioning to a pure play standardised and scalable SaaS portfolio
Transitioning to a pure play standardised and scalable SaaS portfolio Portfolio mix Growth levers Drivers 70% 80% 87% Scalable SaaS Core banking modernization and customer migrations Payments and cards solutions from 4 to 1 platform Legacy solutions to be phased out 30% Sunsetting highly customized
Slide 37: Clear path to margin expansion and profitable growth
Clear path to margin expansion and profitable growth Revenue Profit Adj. EBITA CAGR >6% Year of execution Cost optimization >18% & transition programme €586m €101m 2025 End of 2026 Nordic core Selective 2028 2025 End of 2026 Growth Productivity 2028 international expansion Investor presentation 37
Slide 38: Our performance is best-in-class with consistent development
Our performance is best-in-class with consistent development Strategic growth levers Business enablers 2025 2028 € 15 € 18 Increased market Product and platform Addressable market share in the Nordics investments bn bn 78% 80% Recurring revenue 53% 65% Selective market Flexible SaaS expansion go-to-
Slide 39: We have a tangible route to achieve improved growth and solid profitability
We have a tangible route to achieve improved growth and solid profitability >6% 01 We are leading Nordic banking digitalization Growth 02 Our proven Nordic success is the foundation of European roll-out >18% Profitability 03 We access a €18 billion market in selected European countries Investor pres
Slide 40: Tieto Caretech
Tieto Caretech Investor presentation 40
Slide 41: Market leading care software in the Nordics
Healthcare Social care Data, AI and Analytics Laboratory Healthcare software Social Care software Advanced analytics Laboratory software covering the full value covering the case and AI-based software covering the production Market leading process, automation chain of primary and management and care
Slide 42: Leading with technology: the open and modular Lifecare software portfolio
Leading with technology: the open and modular Lifecare software portfolio Caretech revenue Key differentiators Go-to-market offerings 2025 Interoperability 86% Nordic care core “best of suite” of Caretech revenue 233 Flexibility Data-driven care € “AI enablement” • Comprehensive software portfolio m
Slide 43: Tieto Caretech in figures
Tieto Caretech in figures Revenue, €m Adj. EBITA, €m Personnel, Software business end of period revenue streams 31.1% 30.1% 29.5% 231 233 231 233 27.4% 1 480 1 557 1 553 1 516 Share of recurring revenue 74%, comprised mainly of maintenance, as-a-Service 73 70 and application management 68 64 (part o
Slide 44: Secured Nordic leadership – accelerating growth with best-of-suite solutions
Secured Nordic leadership – accelerating growth with best-of-suite solutions Secured position Growth areas #1 16 21 • Nordics as a leader1) • Increase share of in the future of care wallet in Finland of • We are central to building • Gain market share Nordic healthcare in health and social new wellb
Slide 45: Entering Europe with Lifecare – leveraging partnerships for growth
Entering Europe with Core Nordic market Lifecare – leveraging Selective expansion partnerships for growth Focus on markets where Selected markets national reforms drive demand for interoperability • High need of EHR modernization Offer modern, data-driven and • National focus on modular clinical cor
Slide 46: Transforming our portfolio for higher performance and scale
Transforming our portfolio for higher performance and scale Portfolio mix Growth levers Drivers 86% 90% 89% Nordics Above market best of suite growth European Expansion clinical core to selected European markets Non-core Discontinuing 14% products 7% mostly during 2025-2026 8% 4% 2025 2026 End of ye
Slide 47: Growth is fuelled by our Lifecare expansion
Growth is fuelled by our Lifecare expansion Revenue Profit CAGR Adj. EBITA >7% Cost >28% optimization programme Year of execution & €64m transition €233m 2025 End of 2026 Nordic core Selective 2028 2025 End of 2026 Growth Productivity 2028 international expansion Investor presentation 47
Slide 48: Our performance is best-in-class with consistent development
Our performance is best-in-class with consistent development Strategic growth levers Business enablers 2025 2028 650 3,650 Increased market Product Addressable € € market share in the Nordics and platform m m with best of suite investments 74% 78% Recurring revenue 4% 15% Selected expansion Partner-
Slide 49: We have a tangible route to achieve improved growth and solid profitability
We have a tangible route to achieve improved growth and solid profitability >7% 01 We have technological leadership with our open and modular Growth Lifecare software portfolio 02 Our position in the Nordics offers us strong add-on >28% sales opportunities Profitability 03 Through partners, we acces
Slide 50: Tieto Indtech
Tieto Indtech Investor presentation 50
Slide 51: Our business consists of 8 distinct products with strong position
Our business consists Multichannel & BIX 20% of 8 distinct products Messaging, invoicing, logistics market share in Sweden and Norway with strong position Public 360° Case management for public sector 20% in the Nordics… market share Nordics 87% TIPS Production system for paper industry #1 standard
Slide 52: Tieto Indtech in figures
Tieto Indtech in figures Revenue, €m Adj. EBITA, €m Personnel, end of period Software business revenue streams 16.9% 16.5% 1 682 1 644 1 593 15.0% 14.9% Share of recurring revenue 273 263 264 270 1 402 80%, comprised mainly of maintenance, as-a-Service 46 and application management 43 39 40 (part of
Slide 53: We have identified clear steps to improve our financial performance
We have identified clear steps to improve our financial performance Growth, % Profitability, % -15% +15% -20% +40% Spread of Portfolio Spread of Portfolio product units average Target product units average Target Identified growth products Total Contract Value & book-to-bill SG&A costs Product turna
Slide 54: Steps towards a stronger portfolio of Software products
Steps towards a stronger portfolio of Software products Strategic assets Application of growth lever 2025 2028 7.2 9.2 Strong Activate Nordic Addressable € € products customer base market bn bn 80% 84% Recurring revenue 61% 68% Strong Focused niche SaaS customer base expansion 7% 7% Investments1) St
Slide 55: …and strengthen our growth and profitability
…and strengthen our growth and profitability Revenue Profit CAGR Adj. EBITA >6% Cost Year of optimization >17% programme execution & transition €270m €40m 2025 End of 2026 Nordic core Selective 2028 2025 End of 2026 Growth Productivity international 2028 expansion Investor presentation 55
Slide 56: We have a tangible route to achieve improved growth and solid profitability
We have a tangible route to achieve improved growth and solid profitability >7% 01 We have technological leadership with our open and modular Growth Lifecare software portfolio 02 Our position in the Nordics offers us strong add-on >28% sales opportunities Profitability 03 Through partners, we acces
Slide 57: Latest financial results: Q1’26
Latest financial results: Q1’26 Investor presentation 57
Slide 58: Q1: Strong profitability and solid performance in software businesses
Q1: Strong profitability and solid performance in software businesses Organic growth -3% ▪ Growth -3%, 2 pp. negative ▪ Tieto Tech Consulting impact from known headwinds impacted by weak market – software businesses conditions – additional cost delivered healthy underlying saving measures initiated
Slide 59: Tieto Group Q1 key figures
Tieto Group Q1 key figures Revenue, EUR million Organic growth1 Adjusted operating profit (EBITA)2, EUR million 448 -3% 66 / 14.7% (471) (-4%) (50 / 10.6%) Net debt/EBITDA Order backlog1 Cash flow from operating activities3, EUR million 1.3 +8% 85 (n/a) year-on-year (97) 1) Adjusted for currency eff
Slide 60: Tieto Tech Consulting
Tieto Tech Consulting Organic growth Market weakness impacting performance – significant AI partnership with Microsoft -7% • Growth impacted by challenging • Simplification and upskilling (-6%) €185m (215) market conditions continues • Profitability impacted by lower • Strengthened AI capabilities u
Slide 61: Tieto Banktech
Tieto Banktech Organic growth Strong profitability and good underlying growth 1% • Strong growth in Financial • Improved profitability (-3%) €141m (137) Crime Prevention and BaaS supported by cost optimization measures • Growth impacted by legacy contract run-off (–5 pp.) • Strong order backlog with
Slide 62: Tieto Caretech
Tieto Caretech Organic growth Continued strong performance -2% • Solid growth in modern • Strong order intake (-2%) €58m (57) software portfolio • Significant win for Lifecare • Growth impacted by legacy solutions with City of business decline (–5 pp.) Stockholm • Consistent strong profitability • N
Slide 63: Tieto Indtech
Tieto Indtech Organic growth Continued solid performance 2% • Solid growth in all businesses • Divestment of Edlevo & HR & (-2%) €71m (68) except Pulp, Paper & Fibre Payroll announced - expected and Energy & Utilities to close in Q2 • Profitability improved driven • Bent Philipps appointed as by str
Slide 64: Significant profitability uplift - solid performance in software businesses
Significant profitability uplift - solid performance in software businesses Q1’26 Q1’25 Revenue and growth ▪ Organic growth -3% Revenue 448 471 - Good underlying growth in Banktech and Caretech - negative 2pp impact Organic growth, % -3% -4% at Group level from legacy contract run-off Acquisitions &
Slide 65: Seasonally strong Q1 operating cash flow of €85m
Seasonally strong Q1 operating cash flow of €85m Free cash flow1 (€m) ▪ Cash flow from operations €85m (97) – underlying Operating cash flow (€m) improvement YoY approx. €7m/9% Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 - Supported by improved profitability 217 202 - Seasonal net working capital decrease of €14m
Slide 66: Cost optimization programme on track to deliver €130m
Cost optimization programme on track to deliver €130m – with €105m run rate realized by end of Q1 €130m cost optimization programme ▪ Cost optimization target to deliver €130m run 35 130 rate savings by end of 2026 ▪ Execution on track with €105m run rate 95 executed by end of Q1’26 (€95m in Q4’25)
Slide 67: Personnel reductions across all businesses
Personnel reductions across all businesses ▪ LTM attrition at 7.6%, reflecting continued soft market 8.0 7.9 7.5 7.8 7.6 environment Attrition % last twelve ▪ Cost optimization continuing – net reduction of ~800 months (voluntary) FTEs during the quarter Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 - Tech Consulti
Slide 68: Outlook remarks – Q2’26
Outlook remarks – Q2’26 Group revenue growth expected to improve from Q1 level Growth ▪ Tieto Tech Consulting: Impacted by continued weak demand across all drivers markets - growth expected to improve, but still remain negative ▪ Tieto Banktech: Impacted by ending of a significant (margin-dilutive)
Slide 69: Q2 profitability outlook
Q2 profitability outlook Business Q2’25 Profitability outlook adj. EBITA % Tech Consulting 10.0% Above Q2’25 level Banktech 10.5% Above Q2’25 level Caretech 24.4% At or above Q2’25 level Indtech 10.2% Above Q2’25 level 69
Slide 70: 2026 revenue growth dynamics – unchanged from Q4’25
2026 revenue growth dynamics – unchanged from Q4’25 Q1 Q2 Q3 Q4 Positive growth Tech Consulting momentum Neutral growth Market softness expected to persist for the year momentum Growth Banktech headwind Legacy run-off -5 pp. Legacy run-off -6 pp. SB1 comparison effect -14 pp. Legacy run-off -4 pp. C
Slide 71: Guidance for 2026 – step-change in profitability
Guidance for 2026 – step-change in profitability Organic growth • Soft market environment expected to continue into 2026, affecting Tech Consulting growth -2% to 0%2025: €1 852m / -2% • ~3 pp. known growth headwinds − ~2 pp. run-off of legacy contracts in Banktech and Caretech − ~1 pp. one-off SB1 c
Slide 72: 2026 Key priorities
Focused execution in 2026 – building momentum towards 2028 2026 Key priorities • Strengthen client relationships • Selective international expansion • Leverage strategic partnerships • Continue simplification activities • Finalize the cost efficiency program