Slide 1: Q1 2026 Results Presentation
o ck i n g U n l i a l o t e nt new P Q1 2026 Results Presentation 29 April 2026
Slide 2: Disclaimer
Disclaimer This presentation does not constitute an offer or invitation to sell or issue securities of the Company, nor should it be construed as an offer or invitation to purchase or subscribe for securities of the Company, nor should any part of it or the fact of its distribution be construed as p
Slide 3: Business & Market Update
Business & Market Update 3 Q1 2026 Results | April 2026
Slide 4: Q1 2026 Highlights
Q1 2026 • Q1 2026 marks a good start to the financial year, with double- digit organic revenue growth and continued margin Highlights expansion. • B2B subscription business delivering industry-leading performance and customer growth, driven by strong demand for our innovative product portfolio. • B2
Slide 5: B2B customer growth remains strong in Germany; B2C customer growth continued despite rollout of new product tiering
B2B customer growth remains strong in Germany; B2C customer growth continued despite rollout of new product tiering Avg. March: Avg. number of Avg. number of 515.6 professional customers (GER) 24.4 private customers 507.6 506.9 23.9 444.8 22.5 357.9 21 .8 304.0 21 .1 in k in k 2022 2023 2024 2025 Q1
Slide 6: Platform relevance drives listing growth; contact requests slightly down
Platform relevance drives listing growth; contact requests for sale and rent are slightly down from high levels due to macro-environment Scout24 Transaction Momentum1 and Listings2 Index Contact request to agents3 6 Q1 2026 Results | April 2026 1 Index includes residential as well as commercial tran
Slide 7: AI is driving user growth and monetisation today
AI is driving user growth and monetisation today HeyImmo User growth is Propstack AI is generating higher accelerating ARPU and faster customer growth Unique monthly users (k) Propstack monthly core ARPU (EUR)2 1 750 ~ 650 ~ 340 500 +55% ~ 220 250 1 72 0 Aug- Sep- Oct- Nov- Dec- Jan-26 Feb- March- A
Slide 8: Financial Update
Financial Update 8 Q1 2026 Results | April 2026
Slide 9: Financial Metrics Dashboard
Financial Metrics Dashboard Revenue (EUR m) ooEBITDA (EUR m) +13.9 % +15.1 % 179.6 157.6 107.9 93.7 ooEBITDA margin (%) 60.1 % +0.6pp 59.5 % Q1 2026 Q1 2025 Q1 2026 Q1 2025 adjusted EPS (EUR) Operating cash flow (EUR m)1 +20.1% +10.0% 0.95 64.2 58.4 0.79 Q1 2026 Q1 2025 Q1 2026 Q1 2025 9 Q1 2026 Res
Slide 10: Professional subscriptions drive strong growth and margin expansion
Professional subscriptions drive strong growth and margin expansion EUR m Q1 2026 Q1 2025 Change Strong subscription growth on Professional revenue 133.6 115.3 +15.8% reported and organic basis Subscription revenue 99.1 82.3 +20.4% Continued customer growth in Subscription revenue GER 89.5 78.1 +14.
Slide 11: Private segment showing solid results, driven by subscriptions and PPA
Private segment showing solid results, driven by subscriptions and PPA Solid mid-single digit subscription EUR m Q1 2026 Q1 2025 Change growth despite rollout of new Private revenue 46.0 42.3 +8.8% product tiering and macro uncertainty Subscription revenue 27.1 25.8 +5.3% # Customers (period avg.) 5
Slide 12: Sustained margin expansion supported by operating leverage and disciplined cost growth
Sustained margin expansion supported by operating Personnel costs declined leverage and disciplined cost growth organically due to AI-driven efficiency gains EUR m Q1 2026 Q1 2025 Change Marketing costs grew mid-teens on Revenue 179.6 157.6 +13.9% organic basis, driven by targeted campaigns (new B2C
Slide 13: Lower non-operating effects and improved financial result drives strong reported EPS growth
Lower non-operating effects and improved financial result drives strong reported EPS growth EUR m Q1 2026 Q1 2025 Change ooEBITDA 107.9 93.7 +15.1% Non-operating effects detailed on next page Non-operating effects 4.5 -7.8 >100% Reported EBITDA 112.4 85.9 +30.8% Positive non-operating effects in Q1
Slide 14: Non-operating effects reflect decreased SBC and reorg expenses
Non-operating effects reflect decreased SBC and reorg expenses EUR 0.95 Adjusted EUR 0.97 EPS Reported EPS Non-operating effects declined (EUR m) significantly y-o-y and were 3.4 68.5 2.8 — 0.1 67.1 positive overall: -7.9 a) Positive revaluation effect from SBC following a decrease in share price b)
Slide 15: Strong Q1 2026 cash generation converting into double-digit FCF growth
Strong Q1 2026 cash generation converting into double-digit FCF growth despite LTIP-related working capital effects 13.6 4.9 (EUR m) 68.5 -8.3 0.7 56.3 -23.2 Net income D&A Capitalised assets & IFRS Non-cash tax impact Changes working capital Net financial impact Free cash flow 16 leasing & provisio
Slide 16: Leverage increase reflects capital returns and M&A
Leverage increase reflects capital returns and M&A, while operating cash generation remains strong Leverage 0.76 100.0 56.3 0.55 0.53 0.47 0.42 0.38 0.40 0.38 0.36 0.0 -77.6 Q1 2024 Q2 Q3 Q4 Q1 2025 Q2 Q3 Q4 Q1 2024 2024 2024 2025 2025 2025 2026 -100.0 Leverage = Net Debt / ooEBITDA LTM; share buy-b
Slide 17: Upsizing share buy-back volume to EUR 350m in 2026
Upsizing share buy-back volume to EUR 350m in 2026, reflecting confidence and attractive valuation Programme volume Acceleration of execution 2026 2026 2026 remaining remaining H1 H1 H2 H1 2028 H1 2028 EUR EUR EUR 400m EUR 250m EUR 150m 100m 100 m EUR 350m in 2026 Strong upsizing vs. proportional Bu
Slide 18: Guidance 2026 confirmed
Guidance 2026 confirmed revenue growth of 16-18% 6-7 thereof Spain / M&A percentage points ooEBITDA margin up to 61% organic ooEBITDA margin up to 64% 18 Q1 2026 Results | April 2026
Slide 19: Q1 2026 Key takeaways
Q1 2026 Key takeaways B2B subscription business 2026 off to a good start, with continues to deliver industry- Wherever we deploy AI in our double-digit organic growth and leading performance through a products, we see faster user continued margin expansion comprehensive membership and growth and imp
Slide 20: Capital Markets Day Reminder
EVENT Capital REMINDER Markets Day 12 May 2026
Slide 21: Q&A
Q&A 21 Q1 2026 Results | April 2026
Slide 22: Financial calendar and investor relations contact
Capital Markets Day – 12 May 2026 Annual General Meeting – 17 June 2026 Q2/H1 2026 results – 6 August 2026 Filip Lindvall – Vice President Group Strategy & Investor Relations ir@scout24.com
Slide 23: Appendix
Appendix 23 Q1 2026 Results | April 2026
Slide 24: Appendix: Simplified reporting enhances transparency and comparability
Appendix: Simplified reporting enhances transparency and comparability 1 Total subscription revenue A total subscription revenue line is provided for Germany, Austria and Spain Until FY 2025 From Q1 2026 2 Separate disclosure for Germany Professional revenue Professional revenue Subscription revenue