Slide 1: Results for 2025
INL} TECHNOLOGY RESULTS FOR 2025 07/04/2026
Slide 2: INVL Technology overview
2 „INVL Technology“ overview On 14 July 2016, the Bank of Lithuania granted INVL Technology a permit to operate as a CEF for 10 years with a possible extension for 2 more years. On 5 INVL Technology operates as a closed- February 2026, the Extraordinary General end fund (CEF) which invests in and IN
Slide 3: Structure of the portfolio companies of INVL Technology (31 December 2025)
3 Structure of the portfolio companies of INVL Technology (31 December 2025) * NRD Bangladesh Ltd. is in the process of liquidation.
Slide 4: Members of INVL Technology Investment Committee
Members of INVL Technology Investment Committee Kazimieras Tonkūnas Vytautas Plunksnis Vida Tonkūnė Nerijus Drobavičius Co-founder & managing Member of the Board and Head Partner of INVL Technology, Member of the Investment partner of INVL Technology of the Private Equity Unit of Member of the Inves
Slide 5: INVL Technology shareholder structure
5 INVL Technology shareholder structure 31 December 2025, a total of 3,744 shareholders owned shares of INVL Technology. Shareholders who held title to more than 5% of INVL Technology’s authorized capital and/or votes as of 31 December 2025 Own shares Number of shares held Share of the 1.73% Name of
Slide 6: INVL Technology timeline
6 INVL Technology timeline Period of investment Period of value creation Period of exit 2016-2021 2021-2024 2024-2028 2015 2016 2019-2021 2024 2026*-2028 • INVL Technology and BAIP Group merge and • INVL Technology obtains • INVL Technology completes • Start of exit • *The term has been continue ope
Slide 7: Net asset value and stock information of INVL Technology
7 Net asset value and stock information of INVL Technology 6 5,4 5 4,29 4 3,61 2,99 3,17 2,77 3,86 3 2,3 2,38 1,99 1,96 1,96 3,22 2 1,62 2,74 2,01 2,08 2,16 1,8 1,76 1,76 1,9 1 1,51 1,43 0 Stock price in the market, EUR Net asset value per share, EUR 31-12-2015 14-07-2016 31-12-2016 Title 08-07-2015
Slide 8: History of shares trading
History of shares trading Share price, Eur 2023 2024 2025 Open price, EUR 2.16 1.90 3.22 High price, EUR 2.24 3.78 4 Low price, EUR 1.78 1.80 3.12 Average price, EUR 2.00 2.58 3.52 Last price, EUR 1.90 3.22 3.86 Turnover, units 237,514 224,749 133,920 Turnover, EUR 473,884.27 579,028.10 471,767.38 T
Slide 9: Key financial figures of INVL Technology
9 Key financial figures of INVL Technology NAV, EUR 31-12-2023 31-12-2024 31-12-2025 NAV 43,528,832 51,432,175 64,624,072 NAV per share 3,6052 4.2896 5.4013 Key figures, thous. EUR 12 months of 2023 12 months of 2024 12 months of 2025 Change in the fair value of financial assets 9,949 9,172 16,186 D
Slide 10: Financial assets of managed companies
10 Financial assets of managed companies Financial asset, thous. Eur Company 31-12-2024 31-12-2025 NRD Cyber Security 17,782 23,748 NRD Companies (includes Norway Registers Development AS, NRD Digital) 14,141 16,935 Novian (includes Novian Technologies, Novian Systems, Novian Eesti OU, 21,991 29,427
Slide 11: Dynamics of financial assets, thous. EUR
11 Dynamics of financial assets, thous. EUR Dividends(-)/ Company 31-12-2016* 31-12-2025 Internal rate of return** Investments (+) NRD Cyber Security 1,908 (4,500) 23,748 38,5% NRD Companies 2,870 - 16,935 21,8% Novian 11,665 (2,020) 29,427 12,3% Of which Technology and digitization area 6,691 (3,90
Slide 12: Aggregated financial indicators of INVL Technology portfolio companies
12 Aggregated financial indicators of INVL Technology portfolio companies, thous. EUR Aggregated revenue Aggregated EBITDA 90 000 8 000 80 000 7 000 70 000 60 000 6 000 50 000 5 000 40 000 4 000 30 000 3 000 20 000 10 000 2 000 0 1 000 2021 2022 2023 2024 2025 0 -1 000 2021 2022 2023 2024 2025 H1 H2
Slide 13: INVL Technology companies' activities geography
13 INVL Technology companies‘ activities geography In 2025 INVL Technology companies carried out projects in 74 countries around the world
Slide 14: Revenue by country of INVL Technology
14 Revenue by country of INVL Technology 2024 2025 Lithuania 16% Lithuania 18% Other Other European 17% 18% European 67% countries 64% countries Non-European Non-European countries countries
Slide 15: Financial results of managed companies for 2025
15 Financial results of managed companies for 2025
Slide 16: NRD Companies Group
INL] TECHNOLOGY NRD Companies Group
Slide 17: Key profit (loss) items, thous. Eur
Key profit (loss) items, thous. Eur NRD Companies* 2024 2025 Revenue 9,954 11,929 Gross profit 4,589 5,345 EBITDA 1,164 1,926 EBIT 851 1,599 Net profit (Loss) 458 906 * The unaudited consolidated results of NRD Companies group are presented. The audits of standalone financial statements for 2025 of
Slide 18: Key balance sheet items, thous. Eur
18 Key balance sheet items, thous. Eur NRD Companies* 31-12-2024 31-12-2025 Tangible assets 524 428 Intangible assets 193 103 Other non-current assets 363 21 Current assets 6,038 6,348 Of which cash 1,181 1,137 Total assets 7,118 6,900 Equity 2,427 3,079 Non-current liabilities 388 165 Of which fina
Slide 19: NRD Companies key financial results, thous. Eur
19 NRD Companies key financial results, thous. Eur Consolidated revenue Consolidated EBITDA 2 500 14 000 12 000 2 000 10 000 1 500 8 000 1 000 6 000 500 4 000 0 2 000 2021 2022 2023 2024 2025 -500 0 2021 2022 2023 2024 2025 -1 000 H1 H2 H1 H2 Thous. EUR 2021 2022 2023 2024 2025 Revenue 6,347 8,079 1
Slide 20: NRD Companies revenue by country and sector
20 NRD Companies revenue by country and sector 2025 2025 Registry authorities 8% Lithuania Government 15% 20% institutions 37% Other European Tax authorities 56% countries 20% Non-European 37% Financial countries institutions 7% Retailers and post offices Number of countries 40 32 28 28 30 25 21 20
Slide 21: NOVIAN Group
Offices operate in 6 countries Norway Estonia Latvia Lithuania Moldova NOVIAN Group Rwanda
Slide 22: Key profit (loss) items, thous. EUR
Key profit (loss) items, thous. EUR Novian* 2024 2025 Revenue** 40,043 40,250 Gross profit** 8,979 9,214 EBITDA 2,838 3,502 EBIT 1,729 2,507 Net profit (Loss) 563 1,605 * The unaudited consolidated results of Novian group are presented. The audits of standalone financial statements for 2025 of the k
Slide 23: Key balance sheet items, thous. EUR
23 Key balance sheet items, thous. EUR Novian* 31-12-2024 31-12-2025 Tangible assets 1,753 1,020 Intangible assets 5,279 5,223 Other non-current assets 840 516 Current assets 15,342 12,860 Of which cash 3,063 2,228 Total assets 23,214 19,619 Equity 6,630 6,135 Non-current liabilities 2,748 1,941 Of
Slide 24: Novian group main financial figures, thous. EUR
24 Novian group main financial figures, thous. EUR Consolidated revenue Consolidated EBITDA 45 000 4 000 40 000 3 500 35 000 3 000 30 000 2 500 25 000 2 000 20 000 15 000 1 500 10 000 1 000 5 000 500 0 0 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 H1 H2 H1 H2 Thous. EUR 2021 2022 2023 2024 202
Slide 25: Novian group revenue by country, sector and line of business
25 Novian group revenue by country, sector and line of business 2025 2025 2025 13% 9% Public* Lithuania 6% IT solutions 27% Private* 14% IT services Other European 15% 70% Finance 57% 73% countries 16% Software development Non-European Aviation, countries aeronautics * Excluding revenue from the fin
Slide 26: NRD Cyber Security
in| TECHNOLOGY ($) NRD Cyber Security NRD Cyber Security et ot So i7=-: e < Ele a —
Slide 27: Key profit (loss) and key balance sheet items, thous. EUR
27 Key profit (loss) and key balance sheet items, thous. EUR NRD Cyber Security* 2024 2025 Revenue** 11,415 14,152 Gross profit** 3,539 4,471 EBITDA 1,333 2,036 EBIT 1,185 1,888 Net profit (Loss) 1,112 1,640 * The unaudited consolidated results of NRD Cyber Security group are presented. The audit of
Slide 28: Key Balance Sheet Items, thousand EUR
28 Key Balance Sheet Items, thousand EUR NRD Cyber Security* 31-12-2024 31-12-2025 Tangible assets 245 182 Intangible assets 11 3 Other non-current assets 89 69 Current assets 5,671 4,400 Of which cash 4,190 2,540 Total assets 6,016 4,654 Equity 1,437 1,941 Non-current liabilities 318 404 Of which f
Slide 29: Key financial figures of NRD Cyber Security, thous. EUR
29 Key financial figures of NRD Cyber Security, thous. EUR Consolidated EBITDA Consolidated revenue 2500 16000 14000 2000 12000 1500 10000 8000 1000 6000 4000 500 2000 0 0 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 H1 H2 H1 H2 Thous. EUR 2021 2022 2023 2024 2025 Revenue* 6,139 6,678 8,146 11,
Slide 30: Revenue by country and sector of NRD Cyber Security
30 Revenue by country and sector of NRD Cyber Security 2025 2025 7% 14% Lithuania 14% Public 11% Other European Private countries 75% 79% Non-European Finance countries * excluding revenue from the finance sector. Number of countries 50 44 40 34 29 30 24 24 20 10 0 2021 2022 2023 2024 2025
Slide 31: Reconciliation of Adjusted Profit Metrics
31 Reconciliation of Adjusted Profit Metrics Profit metrics* are adjusted for material one-off items not related to normal business operations. Thousand EUR Managed Companies Item / Description 2021 2022 2023 2024 2025 EBITDA (by managed company) NRD companies 297 127 1 446 1 164 1 841 Novian 1 722
Slide 32: Reconciliation of Adjusted Profit Metrics
32 Reconciliation of Adjusted Profit Metrics Profit metrics* are adjusted for material one-off items not related to normal business operations. Continued from the previous slide TOTAL Items Affecting Comparability 15 79 (161) 397 2 080 Adjusted EBITDA (by managed company) NRD companies 312 179 1 058
Slide 33: Important information for closed-end investment company (CEF) INVL Technology
33 Important information for closed-end investment company (CEF) INVL Technology Investments in the shares of closed-end investment companies (hereinafter You should also carefully read closed-end investment company‘s ’s may be referred as “CEF“) are associated with investment risk and others Prospe
Slide 34: Thank you for your attention
THANK YOU FOR YOUR ATTENTION INVL TECHNOLOGY Gynėjų Str. 14, 01110 Vilnius, Lietuva www.invltechnology.lt info@invltechnology.lt