Slide 1: Quarterly Presentation Q2 2026
Quarterly Presentation Q2 2026 August 13th, 2026
Slide 2: Important notice and disclaimer
Important notice and disclaimer These materials have been produced by Pexip Holding ASA (the "Company“, and with subsidiaries the “Group”). The materials have been prepared for the exclusive use of persons attending an oral briefing and meeting to which these materials relate given by a representati
Slide 3: Software-only secure video meeting & infrastructure specialist
Software-only secure video meeting & infrastructure specialist Serving large enterprises and public sector organizations Strong financial performance 140m ARR USD EoQ2 18% ARR growth Y-o-y Unique partnerships with the technology leaders in our industry 91% Gross margin LTM margin 31% EBITDA margin L
Slide 4: Q2 2026 highlights
Q2 2026 highlights +5.2 MUSD 140 End Q2 ARR Q-o-Q • Growth powered by strong performance in Secure & Custom, in particular from Defense and National Security • Defense and National Security is now 15% of Pexip’s ARR, up from 7% in Q2 2025 7.2 MUSD, 22% margin EBITDA1 Q2 2026 • Modest growth in Conne
Slide 5: Continued growth and further improved profitability
Continued growth and further improved profitability Total ARR Adjusted EBITDA1 Free Cash flow2 USDm USDm, Last twelve months USDm, Last twelve months +60% +18% +44% 40.4 140.2 38.8 (31%) 135.0 (30%) 37.9 131.0 119.0 122.2 32.9 32.9 30.2 28.8 (26%) 28.5 25.2 (25%) 26.3 (23%) Q2’25 Q3’25 Q4’25 Q1’26 Q
Slide 6: Pexip's two solution areas
Pexip’s two solution areas Pexip Secure & Custom Pexip Connected Spaces Video meetings that are self-hosted on-premises Video meeting room interoperability or in a private cloud When complete privacy and control When several video technologies need over data is required to work seamlessly together 6
Slide 7: Focused Secure & Custom market opportunity
SECURE AND CUSTOM SPACES Secure & Custom market opportunity Features A niche market with high growth potential Rich • Data sovereignty increasingly relevant, particularly in Europe • Significant investments being made in building sovereign IT infrastructure and solutions in Europe • Pexip is uniquel
Slide 8: Control and sovereignty are among the strongest drivers for choosing Pexip
SECURE AND CUSTOM SPACES Control and sovereignty are among the strongest drivers for choosing Pexip Business area ARR breakdown Share of ARR Connected Spaces - Global SaaS 43% 57% 46% Pexip Secure & Sovereign Meetings of Pexip’s revenues comes from self-hosted and dedicated sovereign clouds 11% Conn
Slide 9: Pexip for Defense across the full ecosystem
SECURE AND CUSTOM SPACES Pexip for Defense across the full ecosystem • Network Defined Security Media streams from drones into video calls • Cross-domain Interoperability • Dedicated Platforms • Attribute Bases Access Control (ABAC) Infinity Mission in operational environments Infinity Mission in ta
Slide 10: Network segmentation isolation
cM NETWORK SEGMENTATION ISOLyr 24
Slide 11: AI with Pexip: integrated, private, and comprehensive
SECURE AND CUSTOM SPACES AI with Pexip: integrated, private, and comprehensive audio • video • chat • documents • transcript • other Custom specialist Productivity applications enhancements Build custom integrations Everything you are used to using AI for Defense, from cloud AI from captions Healthc
Slide 12: Unique position in Connected Spaces
Unique position in Connected Spaces 12
Slide 13: Connect for Microsoft Teams Rooms now available on all MTR platforms
Connect for Microsoft Teams Rooms now available on all MTR platforms Connect for Microsoft Teams Rooms • Enables Microsoft Teams Rooms to join 3rd party meetings Confirmed availability across platforms from June • Currently available on MTRs on Windows Increasing opportunity • Microsoft install base
Slide 14: Sales update
Sales update 14
Slide 15: Secure and Custom Spaces / Connected Spaces
Secure and Custom Spaces Connected Spaces +4.9m ARR change Q-o-Q USD 0.3m ARR change Q-o-Q USD 64.2m ARR USD End of Q2 2026 76.1m ARR USD End of Q2 2026 27% Y-o-Y growth Q2 2026 11% Y-o-Y growth Q2 2026 15
Slide 16: Key Wins in Q2 2026 (1/2)
Key Wins in Q2 2026 (1/2) Accelerated focus on sovereign Winning in classified, mission- solutions and data control critical environments • Large win: European financial services • Large win: Public tender win with a firm displaced its incumbent video platform European Ministry of Defense. 100,000 u
Slide 17: Just had a really good Pacific VTC with the Maritime Ops Centre
Just had a really good Pacific VTC with the Maritime Ops Centre dialling in from eVTC today. Thank you for all the hard work, it is game changing! CSG Staff Operations Officer Carrier Strike Group
Slide 18: Key Wins in Q2 2026 (2/2)
Key Wins in Q2 2026 (2/2) Solving interoperability across mixed platform estates • Large win: A global investment advisor rolled out Pexip Connect for Microsoft Teams Rooms across its estate • Large win: Automobile manufacturer selected Pexip so its Zoom Rooms can join Teams meetings 18
Slide 19: Financial update
Financial update 19
Slide 20: Subscription-based revenue model with ARR base at USD 140m in Q2 2026
Subscription-based revenue model with ARR base at USD 140m in Q2 2026 ARR ARR split USD million Percent of ARR Secure & Custom Connected Spaces Defense and national security 15% Enterprise +18% 27% 140.2 135.0 131.0 Healthcare 17% 119.0 122.2 64.2 +27% +25% 56.3 59.3 17% 24% 50.6 53.4 Government Reg
Slide 21: Combined net retention at 102% in Q2 2026
Combined net retention at 102% in Q2 2026 USD million, quarter-over-quarter Connected spaces Secure and Custom 75.8 0.9 76.1 1.2 1.8 Quarterly net retention of 64.2 4.0 0.6 99% 59.3 1.5 Quarterly net retention of 106% Q1 2026 New Net Upsell Churn Q2 2026 Q1 2026 New Net Upsell Churn Q2 2026 Customer
Slide 22: LTM 20% revenue growth and 31% EBITDA margin
LTM 20% revenue growth and 31% EBITDA margin Revenue Adjusted EBITDA1 USD million USD million (margin) SaaS Software +30% 18% Quarterly revenue increase of 18% y-o-y 7 32 6 (22%) – Software revenue growth of 21% y-o-y 27 (20%) 17 – SaaS revenue growth of 15% y-o-y 14 Quarterly LTM revenue growth of
Slide 23: Modest OPEX increase mainly from inflation and FX impact
Modest OPEX increase mainly from inflation and FX impact Quarterly OPEX development USD million Salary and personnel expenses 21.9 USD 1.3 million increased salary and 21.1 personnel costs, impacted by salary 20.0 18.8 18.4 3.7 4.2 adjustments and USD/NOK currency 3.9 4.4 3.8 2.1 1.8 fluctuations 1.
Slide 24: 34% incremental revenue to EBITDA conversion in Q2'26
34% incremental revenue to EBITDA conversion in Q2’26 Revenue and gross margin EBITDA excl. other gains and losses USD million USD million +4.9 32 +1.7 3 7 27 (22%) COGS 2 6 (20%) 29 Gross 26 (90%) margin (93%) Q2’25 Q2’26 Q2’25 Q2’26 24
Slide 25: Returned $44 million to shareholders YTD Q2 2026
Returned $44 million to shareholders YTD Q2 2026, up from USD 35 million in 2025 Cash flow bridge Q2 2026 USD million • USD 8 million in free cash flow, up from USD 3 million last year 89 – Due to improved profits and working 1 81 10 1 8 capital development 44 • Have distributed dividend of USD 44 m
Slide 26: Q2 2026 Financial results
Q2 2026 Financial results Profit and loss USD million Q2'26 Q2'25 Y-o-Y • 18% revenue growth in line with ARR growth Revenue 32.2 27.3 4.9 • Higher COGS due to received one-time discounts in Q2 Cost of goods sold 3.1 1.8 1.3 2025 and is slightly down from Q1 2026 Gross Profit 29.1 25.5 3.6 Salary an
Slide 27: Outlook and targets
Outlook and targets 27
Slide 28: Outlook
Outlook • Continued positive market outlook across the business areas driven by market trends • Need for sovereign control of data and IT platforms Financial ambition • Use of custom video work-flows is growing Consistently deliver: • Interoperability is highly relevant • Double-digit ARR growth • A
Slide 29: Upcoming dates
Upcoming dates Q3 2026 Quarterly Presentation November 5th, 2026 29
Slide 30: Q&A - Investor.pexip.com
Q&A Investor.pexip.com Jpexip[