Vend Marketplaces Asa · OSL:VEND

Vend Marketplaces Asa — Vend Marketplaces Asa B — Q1 2026 Earnings Presentation

33 slides from Vend Marketplaces Asa's earnings presentation, Apr 30, 2026

  1. Slide 1: Q1 2026 Results

    Q1 2026 Results 30 April 2026 Christian Printzell Halvorsen, CEO Per Christian Mørland, CFO

  2. Slide 2: Disclaimer

    Q1 2026 Results | Disclaimer Disclaimer This presentation (hereinafter referred to as the “Presentation”) has been prepared by Vend Marketplaces ASA ("Vend" or the “Company”) exclusively for information purposes and does not constitute an offer to sell or the solicitation of an offer to buy any fina

  3. Slide 3: Summary

    Q1 2026 Results Summary Key financials Strategic highlights * 2% • Monetisation and efficiency: Continued delivery on ARPA growth and cost discipline across the Group. • Capital allocation: Completed the NOK 2 billion share buyback programme during Q1. Announcing a new NOK 4 Revenues YoY billion pro

  4. Slide 4: Transition status: Blocket still recovering, but gaining momentum

    Q1 2026 Results Transition status: Blocket still recovering, but gaining momentum Current transition status Current focus for future success Next steps for transition User satisfaction score recovered to 2.6 for Improving trust and net promoter score remains Key migration milestone reached in Q1 for

  5. Slide 5: Reimagining marketplaces with AI-native experiences

    Q1 2026 Results Reimagining marketplaces with AI-native experiences Advancing AI in our verticals AI Mode – a new step in our AI strategy Real Estate: Establishing an independent “AI Mode” Launched conversational search pilot in unit to build a new, AI-native marketplace Norway, helping home seekers

  6. Slide 6: Mobility

    Q1 2026 Results Mobility blocket dba BILINFO Bilbasen # Nettbil bytbil > carwes AutoVex m Vend

  7. Slide 7: Strong ARPA in Norway; headwinds in Sweden and Denmark

    Q1 2026 Results | Mobility Strong ARPA in Norway; headwinds in Sweden and Denmark ARPA NAA Q1 2026, YoY change % Q1 2026, YoY change % Professional Private Professional Private NOK 586¹ NOK 793¹ 159k¹ 64k¹ 27% YoY 13% YoY 2% YoY -4% YoY SEK 715³ SEK 267³ 205k³ 81k³ 0% YoY³ 9% YoY³ -6% YoY³ -28% YoY³

  8. Slide 8: Revenues up 5% YoY driven by Norway; EBITDA grew 2% following increased marketing investment in Sweden

    Q1 2026 Results | Mobility Revenues up 5%* YoY driven by Norway; EBITDA grew 2% following increased marketing investment in Sweden Mobility Highlights Revenues (NOKm), EBITDA margin (%) • Classifieds revenues up 3% YoY. Strong growth in Norway (+21%) was partly offset YoY growth 5% * by Sweden (-7%)

  9. Slide 9: Real Estate

    Q1 2026 Results Real Estate ASA @Homea m Vend

  10. Slide 10: Strong ARPA growth in Norway; Finland successfully pivoted to a new business model

    Q1 2026 Results | Real Estate Strong ARPA growth in Norway; Finland successfully pivoted to a new business model ARPA Volume Q1 2026, YoY change % Q1 2026, YoY change % Total Residential Total Residential for sale³ for sale NOK 3,782¹ NOK 5,866¹ 52k¹ 27k¹ 20% YoY 19% YoY -5% YoY -5% YoY EUR 4302 1,5

  11. Slide 11: Improved monetisation driving revenue and EBITDA growth

    Q1 2026 Results | Real Estate Improved monetisation driving revenue and EBITDA growth Real Estate Highlights Revenues (NOKm), EBITDA margin (%) • Classifieds revenues up 11% YoY, with solid growth across all segments YoY growth 13% * • Finland pivoted to a new business model to drive improved moneti

  12. Slide 12: Jobs

    Q1 2026 Results Jobs

  13. Slide 13: Strong ARPA growth continues; volumes remain under pressure from market headwinds

    Q1 2026 Results | Jobs Strong ARPA growth continues; volumes remain under pressure from market headwinds ARPA NAA Q1 2026, YoY change % Q1 2026, YoY change % Total Total NOK 8,899¹ 38k¹ 13% YoY –4% YoY ARPA: Average Revenue Per Ad NAA: New Approved Ads 1) Sourced ads not included 13

  14. Slide 14: Revenue increase driven by ARPA growth

    Q1 2026 Results | Jobs Revenue increase driven by ARPA growth Jobs Jobs Highlights Revenues (NOKm), EBITDA margin (%) • Revenue increased 8% YoY; ARPA gains from upsell products and discount YoY growth 8%* model changes partly offset the volume decline • OPEX excl. COGS improved 2% compared to last

  15. Slide 15: Recommerce

    Q1 2026 Results Recommerce blocket dba tori m Vend

  16. Slide 16: Robust GMV growth in Norway and Finland; Sweden GMV declined due to platform transition

    Q1 2026 Results | Recommerce Robust GMV growth in Norway and Finland; Sweden GMV declined due to platform transition Transacted GMV Take rate Q1 2026, YoY change % Q1 2026, YoY change pp. Total Total NOK 634m 16% 19% YoY 0.2pp. YoY SEK 180m 11% -10% YoY 0.5pp. YoY EUR 17m 17% 44% YoY 2pp. YoY DKK 57

  17. Slide 17: Revenues grew 20% YoY driven by volume increase; Strong EBITDA margin expansion

    Q1 2026 Results | Recommerce Revenues grew 20% YoY driven by volume increase; Strong EBITDA margin expansion Recommerce Highlights Revenues (NOKm), EBITDA margin (%) • Transactional revenues increased 24% YoY, driven by strong volume growth YoY growth 20% * • Classified revenues grew 4% YoY, support

  18. Slide 18: Finance

    Q1 2026 Results o 3) = c = re m Vend

  19. Slide 19: Q1 revenue grew 2% YoY and 10% excluding Other/HQ; EBITDA up 36% YoY

    Q1 2026 Results | Finance Q1 revenue grew 2%* YoY and 10%* excluding Other/HQ; EBITDA up 36% YoY Vend Group revenues 1,543m Vend Group EBITDA 563m Q1 revenues per segment (NOKm) 2%* YoY Q1 EBITDA per segment (NOKm) 36% YoY YoY growth YoY growth 5%* 13%* 8%* 20%* -63%* 2% 30% 18% 67% 28% Mobility Rea

  20. Slide 20: Cost decreased 12% compared to last year

    Q1 2026 Results | Finance Cost decreased 12% compared to last year Vend Highlights OPEX excl. COGS (NOKm) • Total OPEX excl. COGS down 12% YoY, driven by declining other operating YoY growth costs. This decline is primarily driven by the exit of Schibsted TSA 12% agreements. ○ Personnel costs incre

  21. Slide 21: Significant reduction in FTEs since CMD in 2024

    Q1 2026 Results | Finance Significant reduction in FTEs since CMD in 2024 Q3 2024 FTEs Q1 2026 CMD Change Highlights Mobility 372 312 60 • Total number of FTEs declined by approximately 290 since the CMD in 2024. Real Estate 255 215 41 • Support Functions and Customer Operations reduced FTEs signi

  22. Slide 22: Adevinta valuation revised down to NOK 7.2bn since Q4 2025 following cash proceeds and multiple contraction

    Q1 2026 Results | Finance Adevinta valuation revised down to NOK 7.2bn since Q4 2025 following cash proceeds and multiple contraction Adevinta valuation Highlights Q1 2026, changes since Q4 2025 (NOKbn) • The carrying value of Vend's 14% stake in Adevinta has been revised to NOK 7.2 billion, down NO

  23. Slide 23: Q1 income statement

    Q1 2026 Results | Finance Q1 income statement Income statement First quarter 2026 2025 NOK million) (represented) Operating revenues 1,543 1,518 Operating expenses 981 1,104 Gross operating profit (loss) - EBITDA 563 413 Depreciation and amortisation 146 124 Other expenses in Q1 2026 comprise N

  24. Slide 24: Q1 cash flow from continuing operation

    Q1 2026 Results | Finance Q1 cash flow from continuing operation Cash flow First quarter 2026 2025 NOK million) (represented) Profit (loss) before taxes from continuing operations 5,467 2,220 Depreciation, amortisation and impairment losses (recognised or reversed) 146 147 Net interest expense (i

  25. Slide 25: Robust balance sheet supports disciplined shareholder returns

    Q1 2026 Results | Finance Robust balance sheet supports disciplined shareholder returns Financial gearing Highlights (NIBD/EBITDA according to bank definition) • Continuous return of excess capital to shareholders into 2026 ○ Share buybacks in Q1 of NOK 1.4bn. Programme announced 12 November 2025 co

  26. Slide 26: Financial framework for sustainable value creation

    Q1 2026 Results | Finance Financial framework for sustainable value creation Strategy Medium-term targets Capital allocation Accelerate Future Winners Mobility Revenue growth: 12-17%, • Any surplus cash post the below will be EBITDA margin: 55-60% returned to shareholders over time Simplify Revenue

  27. Slide 27: Q&A

    Q1 2026 Results | Q&A Q&A 30 April 2026 Christian Printzell Halvorsen, CEO Per Christian Mørland, CFO

  28. Slide 28: Appendices

    Q1 2026 Results | Appendices Appendices Spreadsheet containing detailed Q1 2026 and historical information can be downloaded at vend.com/ir 28

  29. Slide 29: Historical ARPA trends per vertical

    Q1 2026 Results | KPIs Historical ARPA trends per vertical ARPA Vertical Country Category Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Mobility¹ Norway Professional NOK 428 NOK 434 NOK 461 NOK 497 NOK 518 NOK 540 NOK 586 Norway Private NOK 653 NOK 698 NOK 704 NOK 715 NOK 734 NOK 766 NOK 793 Sweden Prof

  30. Slide 30: Historical listing trends per vertical

    Q1 2026 Results | KPIs Historical listing trends per vertical NAA Vertical Country Category Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Mobility¹ Norway Professional 158k 162k 156k 152k 148k 154k 159k Norway Private 106k 62k 67k 116k 106k 67k 64k Sweden Professional 242k 240k 217k 226k 225k 221k 205k

  31. Slide 31: Historical Recommerce KPIs

    Q1 2026 Results | KPIs Historical Recommerce KPIs Transactional KPIs Vertical Country Category Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Recommerce Norway Transacted GMV¹ NOK 481m NOK 540m NOK 531m NOK 549m NOK 569m NOK 620m NOK 634m Norway Take rate² 16% 16% 16% 15% 16% 17% 16% Sweden Transacted GM

  32. Slide 32: Shareholders analysis

    Q1 2026 Results | Shareholders Shareholders analysis Rank Name Shares % ISC 1 Blommenholm Industrier AS 43,167,130 19.80% 2 Folketrygdfondet 19,311,889 8.90% 3 DNB Asset Management AS 10,373,476 4.80% 4 The Vanguard Group, Inc. 6,187,838 2.80% 5 HMI Capital Management, L.P. 6,172,713 2.80% 6 ODIN Fo

  33. Slide 33: Investor contact

    Q1 2026 Results | Investor contact Investor contact Visit Vend’s website: vend.com Email: ir@vend.com Jann-Boje Meinecke SVP FP&A and IR Vend Marketplaces ASA Visiting address: Grensen 5-7, 0159 Oslo Postal address: P.O. Box 747 Sentrum, 0106 Oslo Norway

Vend Marketplaces Asa B — Q1 2026 Earnings Presentation on 6ix