Haypp Group Ab · OMXSTO:HAYPP
Haypp Group Ab — Investor Presentation (May 2026)
26 slides from Haypp Group Ab's investor presentation, May 2026
Slide 1: Investor Meetings May 2026
Investor Meetings May 2026 1
Slide 2: Forward-Looking and Cautionary Statements
Forward-Looking and Cautionary Statements • This presentation contains projections of future results and goals and other forward-looking statements, including statements regarding expected financial or operational performance; capital allocation plans; investment strategies; market expectations; reg
Slide 3: Haypp Group - At a Glance
Haypp Group - At a Glance World’s leading Integral value chain position creates flywheel for growth nicotine pouch retailer Continually improving assortment of innovative products • An e-commerce company leveraged to the secular shift by consumers toward reduced risk nicotine products (RRPs), primar
Slide 4: Haypp's assortment focused on RRPs
Haypp’s assortment focused on RRPs % risk of cigarette smoking HAYPP GROUP OFFERING 100 80 60 40 20 0 Cigarettes Cut tob. Bidis Cigarillos Water pipe Smokeless Cigars US chewing US MST Snus Heat-not-Burn Nicotine Non-tob. nic tob. tob. (RoW) tob. vaping pouches Murkett R, Rugh M and Ding B. Nicotine
Slide 5: Strategy for success
Strategy for success Underpinned by Media & Insights and high compliance standards for sustainable long-term growth 5
Slide 6: Search dominance
Search dominance Controlling the digital AAA locations Generating high share of free traffic Paid 3% Organic 97% Organic Paid 2 effects of search dominance: • Marketing costs 1-2% revenue • Barrier to entry due to traffic to AAA locations 6
Slide 7: Consumers demand wide-range of continuously improving products
Consumers demand wide-range of continuously improving products Haypp market share of products launched LTM Number of new NP launches 8.6 New SKUs 45% 200 tried per Year 40% 8.9 6.3 35% New SKUs New SKUs 150 tried per tried per Year Year 30% 25% SE 100 20% UK US 15% 50 PRODUCT EXPLORATION 10% 5% 0 0%
Slide 8: Sustainable lower price for consumers
Sustainable lower price for consumers Haypp offers lower prices Market model differs by geography than physical POS Offline retail Core Market type margin NP Media & Insights contribution Growth ~30% ~50% discount discount ~20% discount ~40% discount Core Mid High Growth High Medium and rapidly grow
Slide 9: Haypp's Media eco-system
Haypp’s Media eco-system Activation tools (examples) On-site marketing with +3M impressions per month Awareness BRAND PAGES ON SITE COMMUNICATION SEARCH BAR VISIBILITY 2-4x Richest awareness offer with broad reach share of trials SPONSORED LISTING MAIL COMMUNICATION One of our primary trial drivers
Slide 10: Industry's largest Insights provider
Industry’s largest Insights provider Providing invaluable category intelligence to brand owners CONCEPT M&A GOVERNMENTS LAUNCH AWARENESS ACTIONABLE INSIGHTS CONSIDERATION TRIAL RESEARCHERS REGULATORS REPURCHASE LOYAL 10
Slide 11: Haypp's categories optimal for e-comm
Haypp’s categories optimal for e-comm Leveraged with highly automated scalable infrastructure • Limited & standardised SKU’s compared to other products sold online • Low weight to value means pick/pack/ship friendly product • Low consumer returns (< 0.4%) • Limited seasonality enables accurate deman
Slide 12: Compliance priorities & regulatory status
Compliance priorities & regulatory status Regulated environments reinforce scale advantages Haypp has built the necessary processes and infrastructure Haypp operates in 2 broad regulatory environments • Legal Age Access Only is the priority Europe • Systems are rigorous and fully tested using leadin
Slide 13: Seasoned management aligned with shareholders
Seasoned management aligned with shareholders Successful veterans of e-commerce and nicotine industries ▪ Management team selected for expertise, motivation and cultural fit ▪ 6 yrs on average with Haypp; CEO joined in 2017 ▪ Backgrounds in e-commerce / tech and nicotine ▪ Many with experience in si
Slide 14: Haypp's competitive and sustainable moats
Haypp’s competitive and sustainable moats Widening advantages driven by increasing scale Lower inbound pricing (~8 ppt) Financial moats Media & Insights (~8-10 ppt) Fulfilment scale (~5-10 ppt) SEO position & sophistication Operational moats Product & compliance knowledge Supplier relationships Note
Slide 15: Haypp vs Challenger example
Haypp vs Challenger example Scale advantages require significant losses by new competitor 4-5% 15
Slide 16: Strong performance since IPO
Strong performance since IPO Nicotine Pouch Vol. Growth Net Sales Adjusted EBIT 80 100% 4.5 160 5.5% 4.0 +14% +38% 150.7 70 +32% 140 CAGR CAGR CAGR 4.5% 80% 134.5 3.5 60 120 3.0 3.5% 50 +38% 100 60% cans mn 2.5 SEK mn SEK bn 2.3 2.5 40 1.7 80 2.5% 2.0 0.7 1.2 78.2 40% 30 60 1.5 58.5 1.5% 20 40 1.0 4
Slide 17: Haypp's 2028 targets
Haypp’s 2028 targets Haypp Group’s Board of Directors adopted the following financial targets for 2028 18-25% 5.5% ±150 basis points Reinvest Revenue CAGR Adj. EBIT Margin Dividend Policy 2024-28 at constant currency 3.9% 2025 All FCF reinvested into expansion 17
Slide 18: Haypp's Opportunities
Haypp’s Opportunities 18
Slide 19: Addressable consumer base expected to double
Addressable consumer base expected to double Projected NP Consumers 2024 to 2028E +5.2 11,5 2028 6,3 2024 +0.7 +0.4 +0.7 +0.2 +0.1 +0.1 1,1 1,0 0,9 0,3 0,5 0,4 0,3 0,4 0,3 0,1 0,1 0,0 US UK Sweden Germany Norway Switzerland Austria Source: Euromonitor, FDA, UKGOV, Arthur D. Little. Note: millions of
Slide 20: Online penetration with upside to Nordic levels
Online penetration with upside to Nordic levels O N L I N E P E N E T R AT I O N % | 2 0 2 4 49* 36 22 15 7 3 NP NP NP NP NP Vape * DACH penetration high due to DE restrictions on offline sales 20
Slide 21: Q1 key takeaways
200.00 180.00 160.00 Q1 key 140.00 120.00 takeaways 100.00 80.00 60.00 40.00 20.00 0.00
Slide 22: Nicotine pouch volume growth accelerating from high base
Nicotine pouch volume growth accelerating from high base Group NP volume and Group NP growth YoY(%) 45% 69% 23 46% 45% 50% 41% 41% 42% 40% 21 19 36% 36% 40% NP volume (mn cans) 17 28% 30% 15 13 21 14% 19 20% 11 16 17 15 16 15 11% 15 9 13 14 8% 10% 10 11 3% 7 10 5 0% Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2
Slide 23: Q1 2026 Performance Highlights
Q1 2026 Performance Highlights Q1 2026 Performance Highlights ▲ Sustained Consumer ▲ Volume Acceleration ▲ Net Sales > Consumer Momentum Growth • Group Active Consumers +17.8% vs. Q1 25 • Group volume +23% YoY • Net Sales +19.6% vs. Q1 25 (+24.3% cc**) • NP* volume +40% YoY; 69% of Group vol • Growt
Slide 24: Q1 2026 Summary
Summary Q1 2026 Summary • Volume and sales are accelerating driven by increasing consumer acquisition, especially in US & UK • Invested in capabilities and marketing in US & UK • Marketing window limited • Absolute G&A cost growth expected to slow through 2026 and scale in future years • On track to
Slide 25: Haypp investment takeaways
Haypp investment takeaways Nicotine RRP pure play ▪ Leveraged to secular shift to RRPs and online purchases in most attractive markets ▪ Scale economies shared philosophy delivers value & builds relationships with consumers and brand owners, ultimately benefiting shareholders ▪ Scale advantages incr
Slide 26: HAYPP.ST | HAYPP SS
HAYPP.ST | HAYPP SS hayppgroup.com/investor-relations/ Follow us on X: @HayppGroup For inquiries, please contact: Erik Bloomquist, CFA Head of Investor Relations erik.bloomquist@hayppgroup.com 26