Slide 1: Zaptec powers adventure
Zaptec powers adventure Q4 2025 Financial results 18 Feb 2026
Slide 2: Setting records
Setting 1• Strong EV market across Europe records 2• Record quarterly revenue, EBITDA and order intake 3• Installations and order backlog point to continued growth 4• Market leadership in core regions 5• Growing traction in major markets 6• Strong cash flow and liquidity; initiating dividend distrib
Slide 3: Financial highlights
Financial Revenue Order intake 433 645 highlights +32% vs. Q4’24 +41% vs. Q4’24 Order backlog Gross margin 729 41% +47% vs Q4’24 vs. 39% in Q4’24 OPEX EBITDA 134 45 vs. 111 in Q4’24 vs. 19 in Q4’24 3
Slide 4: Increased growth rate with 32% higher revenue
Increased growth rate with 32% higher revenue Fastest revenue growth since 2023 MNOK +32% 433 407 408 383 369 347 341 347 327 300 299 265 239 220 148 129 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
Slide 5: Significant step-change with 41% growth in order intake
Significant step-change with 41% growth in order intake Order backlog of 729 MNOK MNOK +41% 645 587 445 456 461 362 342 366 317 306 330 276 244 218 233 193 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 Q4’25
Slide 6: Stronger gross margin, exceeding 41%
Stronger gross margin, exceeding 41% 40,6% 41,4% 40,1% 39,7% 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 Q3’25 Q4’25 Trend
Slide 7: EBITDA significantly improved
EBITDA significantly improved MNOK 2.4x 44 45 38 34 21 19 14 14 11% margin (%) 10% 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 Q3’25 Q4’25
Slide 8: LTM EBITDA continues to show steady improvement
LTM EBITDA continues to show steady improvement ~8% LTM EBITDA margin MNOK 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 LTM = Last Twelve Months
Slide 9: EV market continues to strengthen
EV market Plug-in vehicle sales Q4 2025 vs Q4 2024 (%) continues Norway 89% to strengthen Germany 57% Europe 40% Switzerland 32% Denmark 29% Benelux 29% France 21% United Kingdom 14% Sweden -3% Source: ACEA. Sum of battery electric and plug-in hybrid electric vehicles. 9
Slide 10: 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 10
Slide 11: Strong growth in mature markets
Executing the strategy Strong growth in mature markets 1. Build on core Revenue growth Q4’25 vs Q4’24 markets 2. Accelerate products +51% and integrations 3. Expand in major +35% markets 4. Optimize cash flow +29% 11
Slide 12: Installation growth: +22%
Executing the strategy Installation growth: +22% 70,000+ installations in Q4; LTM average above 20,000 1. Build on core markets +22% 25 000 Monthly Zaptec installations 2. Accelerate products and integrations 20 000 20 163 3. Expand in major 15 000 markets 10 000 4. Optimize cash flow 5 000 0 May’25
Slide 13: Production on plan
Executing the strategy Production on plan Well-positioned to further scale production if needed 1. Build on core markets 2. Accelerate products and integrations 3. Expand in major markets Westcontrol Sanmina Sanmina 4. Optimize cash flow Norway Germany Hungary Established Established Production star
Slide 14: 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 and integrations Data-driven iteration across hardware, firmware, and cloud 3. Expand in major markets OTA upgrades continuously improving device performance 4. Op
Slide 15: Strengthening Zaptec's strategic role in the connected EV ecosystem
Executing the strategy Strengthening Zaptec’s strategic role in the connected EV ecosystem Energy Infrastructure 1. Build on core markets Energy provider Energy platform CPO platform Installers Infrastructure providers Wholesale 2. Accelerate products and integrations 3. Expand in major markets 4. O
Slide 16: 79% growth in major markets
Executing the strategy 79% growth in major markets Focusing development and strengthening sales to drive growth in 1. Build on core Germany, UK and France; Europe’s top three vehicle markets markets 2. Accelerate products +79% and integrations 89 3. Expand in major markets 50 4. Optimize cash flow Q
Slide 17: Scalable cost structure
Executing the strategy Scalable cost structure 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 34,2% 33,8% 34,4% 33,7% 33,6% markets 32,8% 32,0% 4. Optimize cash flow Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2
Slide 18: Inventory reduced by 92 MNOK
Executing the strategy Inventory reduced by 92 MNOK 1. Build on core markets 2. Accelerate products and integrations MNOK 3. Expand in major markets -29% 610 574 541 4. Optimize cash flow 447 492 456 388 300 314 242 222 167 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 18
Slide 19: Liquidity significantly improved
Executing the strategy Liquidity significantly improved 1. Build on core markets MNOK +38% 2. Accelerate products and integrations 3. Expand in major markets 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 Available liquidity includes cash, cash
Slide 20: Positive earnings and working capital normalization drive liquidity
Executing the strategy Positive earnings and working 1. Build on core capital normalization drive liquidity markets MNOK 2. Accelerate products and integrations +203 17 736 141 3. Expand in major markets 45 4. Optimize cash flow 532 Q4 opening EBITDA AR/Inventory/AP Other Q4 closing balance balance
Slide 21: Initiating dividend distribution
Initiating dividend distribution New dividend policy Ambition to distribute up to 50% of annual net profit Proposed dividend totalling NOK 2.0 per share* - Ordinary: NOK 0.3 - Extraordinary: NOK 1.7 Rationale - Solid liquidity and financial flexibility - Balance sheet remains strong after dividend p
Slide 22: Why Zaptec
Why Zaptec • European leader in AC charging • Strong financial base in Nordics, Switzerland & Benelux • Large growth runway in major European markets • Smart and reliable technology, offering lower total cost of ownership • Scalable production and mature commercial organization • Strategic partnersh
Slide 23: Outlook
Outlook EV market growth remains strong across Europe Continued expansion in Germany, UK, France and Benelux Product focus on continuous improvements, integrations and R&D execution Margin improvement through COGS reduction and scale Profitable growth expected to continue in 2026 23
Slide 24: 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|