Slide 1: First quarter 2024
-© KOMPLETT’GROUP First quarter 2024 Jaan Ivar Semlitsch, CEO Thomas Rakke, CFO 24 April 2024 LETT) §=net@net _{webhallen
Slide 2: Disclaimer
| Disclaimer This presentation has been prepared by Komplett ASA (the “Company’) solely for information purposes. The presentation does not constitute an invitation or offer to acquire, purchase or subscribe for securities. This presentation includes forward-looking statements which are based on our
Slide 3: Market
Market1 ICT Retailers2 Market1 ICT Retailers2
Slide 4: Q1-24 Highlights
| 01-24 Highlights Revenue [Ps] = 3874 54 3618 363: 3045 O23 02-23 03-23 04-23 O24 Opex share 16.3% % 41% a's 125% 121% O23 02-23 03-23 04-23 O24 (@ kompPett’cRouP Gross margin 141% 11% 43.5% 14.0% 15.0% 01-23 02-23 0%23 04-23 1-24 EBIT (adj.) 01-23 92-23 93-23 ll 04-23 “40 or24 Continued challengin
Slide 5: Actions to secure financial, commercial and operational benefits
| Actions to secure financial, commercial and operational benefits Store expansions in Extended product range and cost Improving market share with NetOnNet Norway programme in Webhallen leaner set-up in Komplett Successful store opening in Stavanger Mobile with subscripti d New store front and impro
Slide 6: Financial performance
Financial performance Thomas Rakke, CFO
Slide 7: Key financials
Key financials Sales-driven fall in profitability year-over-year in challenging market with continued inflationary pressure Revenue o Revenue decline of 10.3 per cent in a continued difficult market 3618 ft0ss profit co Adjusted for currency translation effects, revenue declined by 11.8 per —¥Y y's
Slide 8: B2C: Gross margin improvement in a challenging demand and competitive environment
B2C Gross margin improvement in a challenging demand and competitive environment 3513 o Revenue decline of 9.5 per cent YoY (-11.5 per cent LFL) o Norway -9.4 per cent, Sweden -12.5 per cent and Denmark 2503 2585 2594 -9.5 per cent (LFL, YoY) = ~~ — 2205 © Persistent demand challenges in Sweden; Nor
Slide 9: B2B: Gross margin maintained in a challenging market
B2B Gross margin maintained in a challenging market 01-23 02-23 03-23 04-23 Q1-24 fl Revenue (NOK million) @ Gross margin(%) 01-23 02-23 03-23 04-23 Q1-24 EBIT(NOK million) @ EBIT margin(%) ° ° Revenue decline of 7.5 per cent (-7.9 per cent LFL) ° ° Norway -5.5 per cent and Sweden -24.2 per cent LFL
Slide 10: Distribution
Distribution Resellers impacted by weaker consumer spending o Revenue decline of 14.2 per cent year-over-year © The operations in Norway had a revenue decline of 13.9 per cent, while Sweden had a 19.5 per cent revenue decline LFL © Cautious consumer spending, especially among smaller SME's, leading
Slide 11: Profit and loss
| Profit and loss Operating performance in the quarter causing a decline in profit for the period of NOK 29 million which: Operating revenue 3245 3618 15 861 oo oo . o NOK 13 million linked to amortisation of acquired Depreciation and amortisation 95 -81 -335 customer value . o YoY increase mainly d
Slide 12: Cash flow & working capital
Cash flow & working capital Net working capital optimisation maintained Net cash flow from operating activities Net cash used in investing activities Net cash (used in)/from financing activities Net change in cash and cash equivalents Inventory Trade receivables - regular Trade payables Other assets
Slide 13: Financial position
| Financial position Financial position and liquidity remain controlled, yet with a temporarily elevated leverage ratio ° Net interest-bearing debt Liquidity reserve 1438 1478 975 ° ° 1-23 01-24 1-23 01-24 Leverage ratio 3.8x ° | a : Q1-23 02-23 03-23 04-23 Q1-24 NIBD/LTM EBITDA Equity ratio of 38.7
Slide 14: Summary and outlook
Slide 15: Key takeaways
| Key takeaways A difficult start to the year, but effective measures taken (@ kompPett’cRouP Continued challenging demand environment especially in core categories Gross margin progress despite intensifying price competition in the quarter Good progress on existing cost measures and commercial init
Slide 16: Outlook
| Outlook Strong underlying market fundamentals for consumer electronics and appliances (@ kompPett’cRouP Limited growth potential in H1 2024 coupled with tough competition Commercial and cost initiatives expected to have an increasing positive impact in H2 2024 Indications of improved consumer conf
Slide 17: Our medium- to long-term targets remain
l Our medium- to long-term targets remains Recap from CMD Fundamentally attractive market Strong strategic platform for further expansion Retail brands with industry leading customer satisfaction (@ kompPett’cRouP Positioned in the fastest growing online segment Cost leadership position and scalable
Slide 18: Alternative Performance Measures (APMs)
| Alternative Performance Measures (APMs) ThadPe snd Kango repre end set eto ecoctation tut wring capa Waring ests cepring enn age cas, ado section cuom oma sydleseckahesattansctonganies Te stares Seedonsuasiescntings : eats Nn 008 wire intoodsscorasporeante, The " ‘rm pot: oa peat revenue les cont
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