Slide 1: Zaptec powers adventure
Zaptec powers adventure Q1 2026 Financial results 6th May 2026
Slide 2: Q1 summary
Q1 1• Record revenue and EBITDA driven by continued high growth summary 2• Positive cash flow generation and strengthened liquidity position 3• Strong momentum in the European EV market 4• Sustained market leadership in core European regions 5• All-time-high installation rates supported by a solid o
Slide 3: Financial highlights
Financial Revenue Order intake 457 467 highlights +32% vs. Q1’25 +28% vs. Q1’25 Order backlog Gross margin 737 43% +45% vs Q1’25 vs. 39% in Q1’25 OPEX EBITDA 143 51 vs. 120 in Q1’25 vs. 14 in Q1’25 3
Slide 4: Revenue increase of 32%
Revenue increase of 32% Strong growth trend continued in 2026 MNOK +32% 457 433 407 408 383 369 347 341 347 327 300 299 265 220 239 129 148 Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26
Slide 5: Order intake up 28%
Order intake up 28% Order intake is seasonal, with higher volumes in Q2 and Q4 Backlog of 737 MNOK at the end of the first quarter MNOK +28% 645 587 445 456 461 467 362 342 366 317 306 330 276 244 218 233 193 Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q
Slide 6: LTM revenue and order intake demonstrate consistent progress
LTM revenue and order intake demonstrate consistent progress MNOK 1.888 1.802 1.711 1.625 1.613 1.541 1.527 1.430 1.408 1.314 1.327 1.348 1.254 1.642 1.462 1.456 1.532 1.427 1.348 1.356 1.426 1.258 1.267 1.314 1.071 872 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 LT
Slide 7: Gross margin improved further
Gross margin improved further Product mix primary driver of increase in the first quarter Focus on mitigating geopolitical uncertainty via smart design and scale 41,4% 42,5% 40,1% 39,7% 40,6% 38,9% 38,6% 38,9% 37,7% 38,6% 39,4% 36,9% 34,6% Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25
Slide 8: Quarterly EBITDA record
Quarterly EBITDA record Scalability evident with 3.6x EBITDA compared to first quarter 2025 11% EBITDA margin in the first quarter 2026 MNOK 3.6x 51 44 45 38 34 21 19 14 14 11% 10% 11% margin (%) 4 6% 6% 9% 10% 4% -1% 4% -2% -1% 1% -2 -2 -8 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25
Slide 9: LTM EBITDA lifted to 160 MNOK
LTM EBITDA lifted to 160 MNOK LTM EBITDA margin up from 8% in Q4’25 to 10% in Q1’26 MNOK 160 123 98 81 71 62 55 43 43 29 12 -18 -24 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 LTM = Last Twelve Months
Slide 10: Market trends
Market • Strong growth in EV sales in Europe in the first quarter Driving electric is the rational choice both in terms of fuel cost trends • and total ownership cost for all vehicle archetypes • Europe is still early in the EV adoption with 20% growth per year expected in the next decade • Huge add
Slide 11: Strong EV market in Europe
Strong EV market in Europe Plug-in vehicle sales Q1 2026 vs Q1 2025 (%) France 40% Denmark 38% Germany 33% Europe plug-in Europe 28% vehicle sales up 28% compared to United Kingdom 24% Q1 2025 Switzerland 14% Sweden 9% Benelux -8% Norway -11% Source: ACEA. Sum of battery electric and plug-in hybrid
Slide 12: Europe is on the S-curve toward mass EV adoption
Europe is on the S-curve toward mass EV adoption EV share above 19% in Q1 marks clear inflection point toward mass adoption across European markets The primary driver is economics: EVs outperform on cost per kilometer and offer lower total cost of ownership Battery Electric Vehicles (BEV) share of t
Slide 13: Europe is still early in the EV transition
Europe is still early in the EV transition Vehicle fleet (million units) 282,0 95% of Europe’s vehicle fleet is still non-electric, expected to be replaced by EVs over time 14,3 14,1 2,4 Electric Vehicles Petrol / Diesel Nordics Europe Source: IEA Global EV Data Explorer 2025 13
Slide 14: Europe requires a major charging infrastructure build-out to reach 55 million charge points by 2035
Europe requires a major charging infrastructure build-out to reach 55 million charge points by 2035 Number of charge point installations in Europe (million units) 54,8 0,4 3,3 20% annual growth in European charge +20% pa 30,4 2,6 0,2 points expected 51,1 until 2035 10,4 27,6 8,0 1,1 0,2 6,1 0,1 1,0
Slide 15: From chargers to a connected EV charging ecosystem
From chargers to a connected EV charging ecosystem Smart charging infrastructure Data-driven intelligence Cloud platforms & connectivity Europe’s EV transition requires charging to evolve from hardware into a connected, The EV user & energy system Customer & energy-aware Ecosystem stakeholders opera
Slide 16: Executing the strategy
Executing the strategy 4 Optimize cash flow 3 Expand in major markets 2 Accelerate product roll-outs and integrations 1 Build on success in core markets 16
Slide 17: Strong growth in core markets
Executing the strategy Strong growth in core markets 1. Build on core Revenue growth Q1’26 vs Q1’25 in Zaptec’s top 3 markets markets 2. Accelerate products +102% and integrations 3. Expand in major +73% markets 4. Optimize cash flow +23% 17
Slide 18: Installation growth: +20%
Executing the strategy Installation growth: +20% Trend continuous upward with LTM average above 21,000 1. Build on core +20% markets 30 000 Monthly Zaptec installations 2. Accelerate products and integrations 25 000 21 060 20 000 3. Expand in major markets 15 000 10 000 4. Optimize cash flow 5 000 0
Slide 19: Production on plan
Executing the strategy Production on plan Preparations for new production site on track 1. Build on core Well-positioned to further scale production if needed markets 2. Accelerate products and integrations 3. Expand in major markets Westcontrol Sanmina Sanmina 4. Optimize cash flow Norway Germany H
Slide 20: Continuous product improvements and new EV ecosystem integrations
Executing the strategy Continuous product improvements and new EV ecosystem integrations 1. Build on core markets 2. Accelerate products Data-driven iteration across hardware, firmware, and cloud and integrations 3. Expand in major markets OTA upgrades continuously improving device performance 4. Op
Slide 21: 55% growth in Tier 1 markets
Executing the strategy 55% growth in Tier 1 markets Continued focus on unlocking potential in Europe’s top 3 1. Build on core markets Germany, UK and France markets 2. Accelerate products +55% and integrations 33 3. Expand in major 21 markets 4. Optimize cash flow Q1’25 Q1’26 Revenue, MNOK Tier 1 ma
Slide 22: Scalable business model
Executing the strategy Scalable business model Continued trend of declining Opex share as revenue grows 1. Build on core markets 2. Accelerate products Opex as % of revenue and integrations 35,9% 3. Expand in major 33,8% 34,4% 33,7% 33,6% markets 34,2% 32,8% 32,0% 31,3% 4. Optimize cash flow Q1’24 Q
Slide 23: Inventory reduced 70 MNOK
Executing the strategy Inventory reduced 70 MNOK Lifting production to meet strong sales and higher demand 1. Build on core Target inventory range is 2-300 MNOK to secure deliveries markets 2. Accelerate products and integrations MNOK 3. Expand in major markets 610 574 541 4. Optimize cash flow 447
Slide 24: Liquidity further improved
Executing the strategy Liquidity further improved 1. Build on core markets MNOK +7% 2. Accelerate products and integrations 3. Expand in major markets 789 736 4. Optimize cash flow 532 466 318 327 272 250 241 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Available liquidity includes cash, ca
Slide 25: Liquidity improved 53 MNOK from profitable operations and working capital improvements
Executing the strategy Liquidity improved 53 MNOK from profitable operations and working capital improvements 1. Build on core markets MNOK 2. Accelerate products and integrations +53 -11 3. Expand in major +68 -20 -10 789 markets 736 +26 4. Optimize cash flow Q1 opening Profit Net working Other acc
Slide 26: Dividend information
Dividend information Dividend policy Ambition to distribute up to 50% of annual net profit as announced in the Q4 2025 report 2025 dividend: NOK 2.0 per share* - Ordinary: NOK 0.3 - Extraordinary: NOK 1.7 Timeline - Approval of dividend: AGM 10th June 2026 - Ex. date: 11th June 2026 - Distribution d
Slide 27: Long-Cycle EV Infrastructure at Scale
Why Zaptec: Long-Cycle EV • European leader in AC EV infrastructure, positioned for long-cycle, regulated growth Infrastructure • Strong financial base in Nordics, Switzerland & Benelux at Scale • Structural EV infrastructure tailwinds anchored in Zaptec’s installed base, ecosystem, and regulatory d
Slide 28: Outlook
Outlook Continued market growth backed by improving EV cost advantage Strong revenue growth expected driven by Nordics and Benelux Tier 1 market share gains remains top priority Product focus on continuous improvements, integrations and R&D execution Maintaining gross margin focus amid geopolitical
Slide 29: Disclaimer
Disclaimer This presentation contains stata fard-looking statemer uare performance and invoive:risks and! uncertainties. Actual results I — forward-looking s in the quarterly report published togethenwith this presentation, which applies sim|