Slide 1: Capital Markets Day 2025
Capital Markets Day 2025 1
Slide 2: Changing gear to deliver growth
Capital Markets Day 2025 Changing gear to deliver growth Endre Rangnes President & CEO
Slide 3: Changing gear to deliver growth
Changing gear to deliver growth Our foundation 4 strategic priorities to Delivering on is strong accelerate execution financial targets – execution underway Growth (CAGR 2027-2028) >5% Profitability (2028) >16% Capital Markets Day 2025 3
Slide 4: My first months as the CEO of Tieto
My first 6 months as the CEO of Tieto Our growth since 2013 “We have the right assets and customer relevance, but execution must step up to realise our potential” <1% CAGR • Insufficient customer orientation • Overly heavy cost structure • Lack of operational focus • Complex structure • Weak M&A tra
Slide 5: Strong foundation to generate future growth
Strong foundation Deep customer • Long-term relationships to generate future relationships • Diversified client base • Leading market position in the Nordics growth • Small international client base Distinctive • Leading software assets and defined industry focus capabilities • Broad competence to d
Slide 6: Success in our home markets proves our ability to win and grow
Success in our 10 million home markets Nordic citizens proves our ability in our integrated care to win and grow 2 billion #1 transactions for invoicing, food distribution, customs, the electricity system €100+ million protected for our customers by Fraud prevention solutions in 2025 ▪ Nordic Bank s
Slide 7: Entering the AI era redefining industries and human capabilities
Entering the AI era redefining industries and human capabilities 2026+ customer • Autonomous • Mobility priorities • Quantum technologies • General process improvements AI era • Sustainable energy driven by IT Digitalization • Bio-engineering era • Cost optimization Information • Data architecture f
Slide 8: Rejuvenated strategy with 4 strategic priorities
With our rejuvenated Customer strategy, we are speeding up execution through 4 strategic priorities 01 first Simplified Strategy 02 core Selective Become European software and technology consulting market leader within selected industries 03 expansion Competitive 04 cost base Capital Markets Day 202
Slide 9: Customer first
Customer first Targets – growth through stronger customer relationships Actions – sharpen our commercial focus From product-driven to customer-centricity Improved customer Strengthen client ownership satisfaction and • Segmentation and prioritization • Roles and responsibilities loyalty • Key accoun
Slide 10: Simplified core
Simplified core Focused software Industry verticals Care providers Banks Niche industries and services supplier to strengthen customer centricity Tech Consulting1) Caretech2) Banktech3) Indtech4) • Focus on core • Grow Nordic • Leverage • Optimize portfolio verticals and healthcare software Nordic p
Slide 11: Selective expansion
Selective expansion Nordic Grow faster From strong Nordic roots to than market broader European growth Strengthen market leadership in core Nordic markets Europe >€500 million 03 Total Contract Value from Europe by 2028 • Selected software products • Spain, Portugal, Germany, Switzerland, Austria, U
Slide 12: Competitive cost base
Competitive cost base Driving a leaner, more €115 competitive cost base • Reduce SG&A • Adjust delivery capacity • Consolidate supplier base million • Reduce purchasing volumes • Rationalize and right-size facilities 04 run-rate savings by end of 2026 Capital Markets Day 2025 12
Slide 13: Profitable growth is driven by rigorous execution
Profitable growth is driven by rigorous execution – 2026 to be a year of execution and transition Revenue Profit Adj. EBITA CAGR >5% >16% Cost optimization Year of programme execution & transition €240 m €1.9 bn LTM Q3’25 End of 2026 Nordic core Selective Tech 2028 LTM Q3’25 End of 2026 Growth Produ
Slide 14: Impact partner
Fundamental mindset change is reflected in the positioning and brand Differentiating position Simplified name Rejuvenated identity Impact partner Capital Markets Day 2025 14
Slide 15: Our people are building a stronger, more customer-focused company
Our people are building Leadership to drive •• Rejuvenation of leadership teams Capabilities to lead a stronger and more transformation through change • Empowering leaders customer-focused company Culture of • Unified culture • KPI-based leadership engagement • Accountability and responsibility • Hi
Slide 16: Building AI competency in our people and products
Building AI competency in our people and products Sales and Value Typical AI project development proposition 1. x1 x2 contract x5 contract x10 value contract value value 3. 2. Growing our AI business Internal efficiency and Internal Products through our large productivity by AI efficiency and Servic
Slide 17: New capital allocation principles
Our new capital allocation principles enable growth focus while delivering attractive shareholder returns 01 Invest in With excess capital organic growth 02 Dividend 60-80% Share buybacks of net profit Extraordinary dividends 03 Deleveraging to <2x net debt/EBITDA Capital Markets Day 2025 17
Slide 18: Realistic and achievable financial targets
We measure our Growth1) success by realistic and achievable financial targets (CAGR 2027–2028) Profitability2) >5% Dividend >16% distribution of net profit 60 -80% <2 x Net debt/ EBITDA 1) Revenue growth, mainly organic Capital Markets Day 2025 2) Adj. EBITA in 2028 18
Slide 19: We are ready for the next chapter
We are ready for the next chapter 2027 -2028 Deliver performance Competitive high >5% performing businesses 2026 consistent growth and international expansion >16 % Year of execution & 2025 transition Conclude simplification and proven growth for Prepare software businesses foundation Simplify opera
Slide 20: Changing to capture future opportunities
Capital Markets Day 2025 Changing to capture future opportunities Pär Johansson Interim Managing Director, Tech Consulting
Slide 21: Changing to capture future opportunities
Changing to capture future opportunities We have a clear AI, cloud and data Our strategic change agenda for are creating new refocus will deliver improved customer opportunities centricity, service Growth mix and efficiency (CAGR 2027-2028) >3% Profitability (2028) >12% Capital Markets Day 2025 21
Slide 22: Tech Consulting has a solid base for future growth
Tech Consulting has a solid base for future growth… Home markets Industries Service portfolio Nordics BFSI AI, cloud, data, Customer base Public enterprise app’s, software engineering, customer experience 1,500 customers Central Europe IT professionals Healthcare Manufacturing Engineering services 8
Slide 23: Challenges causing weak performance
…but we need to address challenges causing weak performance Vast customer Transactional LTM Q3’25 portfolio engagements Growth Adj. EBITA Large position in Federated engineering organization -6% 11% Capital Markets Day 2025 23
Slide 24: Executing a change in three key areas
We are executing a Customer Focus on strategic change in three key centricity customers areas to improve performance Service mix Prioritize high growth areas as part of IT services Operational Simplification of organization to improve efficiency decision making and SG&A Capital Markets Day 2025 24
Slide 25: Clear targets for customer centricity, service mix and efficiency
Clear targets to improve customer centricity, service mix and efficiency Customer Focus on • Industry focus on Banking, 60 Healthcare, Public and Telecom centricity strategic • Strengthen key account management customers and increase hunting sales and prospects • Expand in AI, cloud and data • Deepe
Slide 26: Ambition to become a market leading Tech Consulting provider
Our ambition is to become a market leading Tech Consulting provider Market focus Competence shift Customer relationship Tieto software Software Transactional Consultative Build businesses engineering AI Nordics USA Delivery mix Cloud Customer Staff augmentation Value Enterprise apps Central Europe D
Slide 27: Growing market accelerated by AI, cloud and data
We are operating in a growing market which is accelerated by AI, cloud and data investments Growth opportunities €86 Market size1) Capture AI, cloud and data investments to drive downstream revenues bn Market CAGR1) Expand Tieto software businesses Market CAGR AI, 5% with consulting services Drive r
Slide 28: Our three phases to deliver change
Our three phases Grow with to deliver change 2027 - strategic customers 2028 and improve service mix Build growth 2026 foundation and partnerships Build growth 2025 foundation Capital Markets Day 2025 28
Slide 29: Strategic choices set the course for growth
Our strategic choices set the course for growth Revenue Profit Adj. EBITA CAGR >3% Year of execution & Cost optimization transition >12% €802m programme €91m LTM Q3’25 End of 2026 Strategic Service 2028 LTM Q3’25 End of 2026 Growth Productivity 2028 customers mix Capital Markets Day 2025 29
Slide 30: Clear path to improve growth and profitability
We have a clear path to improve growth and profitability 01 Improved customer Growth >3% centricity and service mix to accelerate growth 02 AI, cloud and data are creating new opportunities Profitability 03 Focus on internal efficiency to improve profitability >12% Capital Markets Day 2025 30
Slide 31: Built in the Nordics, designed for Europe
Capital Markets Day 2025 Built in the Nordics, designed for Europe Ari Järvelä Managing Director, Caretech
Slide 32: Built in the Nordics, designed for Europe
Built in the Nordics, designed for Europe We have secured We are investing to Profitable growth a leading role in the capture growth in an at the core Nordics through evolving European technology care market Growth leadership (CAGR 2027-2028) >7% Profitability (2028) >28% Capital Markets Day 2025 32
Slide 33: Growing market as healthcare reforms accelerate change
We are operating in a growing market as healthcare Addressable market Nordics and targeted expansion markets reforms and regulations accelerate change CAGR 5% €3.7bn Healthcare reforms to address cost pressure € 3.2bn 25% 20% Data-driven care Regulatory demands on openness Data-driven care 75% and s
Slide 34: Open and modular Lifecare software portfolio
Leading with technology: the open and modular Lifecare software portfolio Caretech revenue Key differentiators Go-to-market offerings LTM Q3 '25 Interoperability Nordic care core 86% of Caretech revenue “best of suite” Flexibility Data-driven care € 231 million • Comprehensive software portfolio • A
Slide 35: Secured Nordic leadership with best-of-suite solutions
Secured Nordic leadership – accelerating growth with best-of-suite solutions Secured position Growth areas #1 • Nordics as a leader1) • Increase share of of in the future of care • We are central to building Nordic healthcare Nordic healthcare wallet in Finland • Gain market share in health and soci
Slide 36: Entering Europe with Lifecare
Entering Europe with Lifecare – leveraging Core Nordic market Selective expansion partnerships for growth Focus on markets where Selected markets national reforms drive demand for interoperability • High need of EHR modernization Offer modern, data-driven and • National focus on modular clinical cor
Slide 37: Stable investments, strategic shift to portfolio advancement
Stable investments, strategic shift to portfolio advancement and growth Key investment areas Investments, % of revenue 17% 16% Expansion • International sales • Partner network CAPEX CAPEX Customer lifecycle • SaaS operations • International product support Products • Clinical core and modularizatio
Slide 38: Setting the standard in AI-driven software and processes
Setting the standard in AI-driven software and processes 01 Stand-alone AI • Deep learning AI for Strong internal AI adoption diagnosing rare diseases solutions • Hospital resource optimization, 02 AI embedded in core solutions e.g. shift planning • Automated recording and patient record transcripti
Slide 39: Transforming our portfolio for higher performance and scale
Transforming our portfolio for higher performance and scale Portfolio mix Growth levers Drivers 86% 90% 89% Nordics Above market best of suite growth European Expansion clinical core to selected European markets Non-core Discontinuing 14% products 7% mostly during 2025-2026 8% 4% LTM Q3'25 2026 End
Slide 40: Growth is fuelled by our Lifecare expansion
Growth is fuelled by our Lifecare expansion Revenue Profit CAGR Adj. EBITA >7% Cost >28% optimization programme Year of execution & €65m transition €231m LTM Q3’25 End of 2026 Nordic core Selective 2028 LTM Q3’25 End of 2026 Growth Productivity 2028 international expansion Capital Markets Day 2025 4
Slide 41: Our performance is best-in-class with consistent development
Our performance is best-in-class with consistent development Strategic growth levers Business enablers LTM Q3’25 2028 Increased market Product Addressable € € share in the Nordics with best of suite and platform investments market 650m 3,650 m Recurring revenue 74% 78% Selected expansion Partner-led
Slide 42: Strong Nordic roots – prepared for broader growth
Strong Nordic roots – Market prepared for broader 2027 expansion growth -2028 Year of 2026 execution & transition Portfolio 2025 transformation and simplification Capital Markets Day 2025 42
Slide 43: Tangible route to improved growth and solid profitability
We have a tangible route to achieve improved growth and solid profitability 01 We have technological leadership Growth >7% with our open and modular Lifecare software portfolio 02 Our position in the Nordics offers us strong add-on sales opportunities Profitability 03 Through partners, we access a €
Slide 44: Expanding through scalable software in selected European markets
Capital Markets Day 2025 Expanding through scalable software in selected European markets Johan Nygaard Managing Director, Indtech
Slide 45: Expanding through scalable software in selected European markets
Expanding through scalable software in selected European markets We have leading We have a strong We are selectively position across and scalable expanding to reach multiple industries portfolio of in the Nordics with software units Growth global reach (CAGR 2027-2028) >6% Profitability (2028) >17%
Slide 46: 8 distinct products with strong position
Our business consists Multichannel & BIX 20% of 8 distinct products Messaging, invoicing, logistics market share in Sweden and Norway with strong position Public 360° Case management for public sector 20% market share Nordics in the Nordics… 87% TIPS Production system for paper industry #1 standard
Slide 47: Having a meaningful impact on our society
…having a meaningful impact on our society >80,000 >800,000 300 million kilometres of the Nordic electricity grid active student accounts invoices and documents handled on behalf managed by our energy solutions in Nordic municipalities of more than 2000 companies every year 2 billion >500,000 300 tr
Slide 48: Clear steps to improve financial performance
We have identified clear steps to improve our financial performance Growth, % Profitability, % -15% +15% -20% +40% Spread of Portfolio Spread of Portfolio product units average Target product units average Target Identified growth products Total Contract Value & book-to-bill SG&A costs Product turna
Slide 49: Growth anchored in three winning products
Our growth is anchored in three winning products Why we can grow How we will grow Market, product, Track record Growth lever organization well positioned for growth Eye-share #1 industry solution Dedicated niche New logos across functionality the world Public 360° The only pan-Nordic One SaaS soluti
Slide 50: Modernized product portfolio – shifting focus to AI
We have modernized our product portfolio – shifting focus to AI capabilities Technology stack Outdated State-of-the-art Stand-alone • Case: Public 360 Archive Inspector • higher transparency AI solutions • increased privacy protection • lower costs • Covering 90% of citizens in Norway Competitivenes
Slide 51: Steps towards a stronger portfolio of Software products
Steps towards a stronger portfolio of Software products Strategic assets Application of growth lever LTM Q3’25 2028 Strong Activate Nordic Addressable € € products customer base market 7.2 bn 9.2 bn Recurring revenue 82% 84% Strong Focused niche SaaS customer base expansion 61% 68% Investments1) 7%
Slide 52: Strengthen our growth and profitability
…and strengthen our growth and profitability Revenue Profit CAGR Adj. EBITA >6% Cost Year of optimization >17% programme execution & transition €265m €36m LTM Q3’25 End of 2026 Nordic core Selective 2028 LTM Q3’25 End of 2026 Growth Productivity 2028 international expansion Capital Markets Day 2025
Slide 53: Our gameplan for niche expansion
Our gameplan for High niche expansion 2027 performing portfolio & 2028 Selective 2026 expansion & resilient performance Focus & 2025 simplification Capital Markets Day 2025 53
Slide 54: Consistent results as a leading software business
We are set to deliver consistent results as a leading software business 01 We have a strong Growth >6% position in the Nordics with 8 distinct products 02 We will grow through 3 winning products Profitability 03 We have modernized our product portfolio and shifting focus to AI capabilities >17% Capi
Slide 55: From Nordic success to European growth
Capital Markets Day 2025 From Nordic success to European growth Mario Blazevic Managing Director, Banktech
Slide 56: From Nordic success to European growth
From Nordic success to European growth We are leading Our selected Delivering Nordic banking solutions are driving simplification and digitalisation European expansion margin expansion Growth (CAGR 2027-2028) >6% Profitability (2028) >18% Capital Markets Day 2025 56
Slide 57: Market dynamics change – banks respond by rapid digitalization
Market dynamics change – banks respond by rapid digitalization Addressable Market1) CAGR 5% €18bn €15bn Digital-first generation Revenue streams & tech disrupters challenged Cyber crime, Fraud, Cost-increases Risk Compliance 2025 2028 Capital Markets Day 2025 1) Banking software in Europe. Tieto est
Slide 58: Positioned at the sweet spot of banking digitalization
We are positioned at the sweet spot of banking digitalization Banking revenue Key capabilities LTM Q3’25 Proven track-record for driving 15% 25% digital bank transformations savings and payments investments 24% € 68% 78% recurring revenue BaaP software* 589 million software suite 10% loans and 35% c
Slide 59: Nordic market leader position sets a solid foundation
Our Nordic market leader position sets a solid foundation for future growth Unique position Nordic growth strategy Ambition • Deeply rooted trust Increase € • Grow at or above relationship with Nordic banks share-of-wallet by: > 1 bn market >5% • Up-selling Nordic order backlog • Maintaining • Prove
Slide 60: Selected SaaS solutions suited for European roll-out
Selected SaaS solutions with proven Nordic success are well suited for of European roll-out Expansion in UK, Spain, Germany, Austria, Switzerland Card, Payment , Financial Crime Prevention, ATM Flexible go-to-market model with local sales Our highly competitive solutions fit for market Home market w
Slide 61: Next generation solutions and efficiency with responsible AI
Driving next generation solutions and increased efficiency with responsible AI 01 Rapid implementation EXAMPLE AI embedded into Strong internal AI adoption enhancing current offerings AML and fraud 90% monitoring 02 Innovation and new EXAMPLE NextGen mobile bank of software engineers using GenAI too
Slide 62: Transforming our investments to fuel profitable growth
We are transforming Stable investments1) our investments to fuel profitable growth 8% of revenue 1) Opex/Capex 2026 2027 2028 Modernize Modernize Modernize 75% 50% 20% New product New product New product AI capabilities AI capabilities AI capabilities 25% 50% 80% Capital Markets Day 2025 62
Slide 63: Transitioning to a pure play standardised SaaS portfolio
Transitioning to a pure play standardised and scalable SaaS portfolio Portfolio mix Growth levers Drivers 70% 80% 87% Scalable SaaS Core banking modernization and customer migrations Payments and cards solutions from 4 to 1 platform Legacy solutions to be phased out 30% Sunsetting highly customized
Slide 64: Clear path to margin expansion and profitable growth
Clear path to margin expansion and profitable growth Revenue Profit Adj. EBITA CAGR >6% Year of execution Cost optimization >18% & transition programme €589m €97m LTM Q3’25 End of 2026 Nordic core Selective 2028 LTM Q3’25 End of 2026 Growth Productivity 2028 international expansion Capital Markets D
Slide 65: Our performance is best-in-class with consistent development
Our performance is best-in-class with consistent development Strategic growth levers Business enablers LTM Q3’25 2028 Increased market Product and platform Addressable € € share in the Nordics investments market 15 bn 18 bn Recurring revenue 78% 80% Selective market Flexible SaaS expansion go-to-mar
Slide 66: Strong Nordic roots – prepared for broader growth
Strong Nordic roots Market – prepared for 2027 - expansion broader growth 2028 Year of 2026 execution & transition Portfolio 2025 transformation and simplification Capital Markets Day 2025 66
Slide 67: Tangible route to improved growth and solid profitability
We have a tangible route to achieve improved growth and solid profitability 01 We are leading Nordic Growth >6% banking digitalization 02 Our proven Nordic success is the foundation of European roll-out Profitability 03 We access a €18 billion market in selected European countries >18% Capital Marke
Slide 68: Changing gear to deliver improved financial performance
Capital Markets Day 2025 Changing gear to deliver improved financial performance Tomi Hyryläinen CFO
Slide 69: Execution underway to deliver improved financial performance
Execution underway to deliver improved financial performance Strong foundation Clear strategic Improved priorities shareholder returns • Our software businesses and Tech • Growth in the Nordics with selective • Capital allocation principles Consulting with very strong market international expansion
Slide 70: Resilient businesses with high recurring revenues
Resilient businesses with high recurring revenues Tech Consulting Banktech Caretech Indtech Cyclicality High Medium Low Medium Pricing structure Majority time and material Mainly volume/ Mainly monthly Mainly volume/transaction transaction based and subscription fees for based and monthly monthly su
Slide 71: Clear plans to deliver improved financial performance
Each business with clear plans to deliver improved financial performance Financial targets Tech Consulting Banktech Caretech Indtech Growth1) CAGR 2027-2028 >3% >6% >7% >6% Adjusted EBITA2) 2028 >12% >18% >28% >17% 1) Mainly organic growth, adjusted for FX 2) Adjustment items include restructuring c
Slide 72: Renewed financial targets – realistic and achievable
Renewed financial Growth targets – realistic and achievable (CAGR 2027–2028) Mainly organic1) Profitability >5% (2028) Adjusted EBITA2) Dividend >16% distribution of net profit 60 -80% <2 x Net debt/ EBITDA 1) Mainly organic growth, adjusted for FX. 2) Adjustment items include restructuring costs, c
Slide 73: Normalized growth levels from 2027 onwards
Normalized growth levels from 2027 onwards CAGR >5% Revenue Selective int. expansion 2026 – year of transition Selective int. expansion • Growth expected to be flat or slightly negative Focused Mainly growth Year of Nordics areas -2.5% transition Key growth drivers 2027-28 • Data, cloud, AI and ente
Slide 74: Significant margin expansion in 2026
Significant margin expansion in 2026 – growth contributing 2027 onwards Profit Adj. EBITA Key profit drivers >16% • In 2026, cost optimization programme (€115m) and ending Cost of IFRS 5 cost burden optimization • In 2027-2028, growth as the main driver for profit improvement 12.9% €240m LTM Q3’25 2
Slide 75: Stable investment levels with sharper focus and improved returns
Stable investment levels with sharper focus and improved returns Sharper investment focus Investment level Payback time Strengthen product portfolio • growth investments • deliver on AI technologies Improved return on investments • enhanced investment follow-up • aim for shorter payback time and hig
Slide 76: New capital allocation principles and 2025 dividend consideration
Our new capital allocation principles and 2025 dividend consideration 01 Invest in With excess capital Consideration organic growth for 2025 dividend • Share buybacks or • Distribution expected to 02 Dividend 60-80% extraordinary dividend be 80% of net profits of net profit1) • Net profit to be adju
Slide 77: Attractive dividend profile supported by net profit improvement
Attractive dividend profile supported by consistent net profit improvement Net profit Free cash flow (M&A&D adj.) Cash 1.4-1.5 0.7-0.8 0.8-0.9 0.9 conversion 2025 2026 2027 2028 Net profit adjusted for: Net profit improvement: Net profit and free cash flow improvement: - Non-cash impairments - Cost
Slide 78: Leverage target to be reached already in 2026
Leverage target to be reached already in 2026 – improved profitability as the main driver Net debt/ EBITDA 2.0X Targeted leverage Keep leverage close to 2x excess capital to be distributed to shareholders 2025 2026 2027 2028 Net debt Reported EBITDA Net debt/EBITDA Capital Markets Day 2025 78
Slide 79: Execution underway to deliver improved financial performance
Execution underway to deliver improved financial performance Strong foundation Growth Clear strategic priorities >5% Profitability Improved shareholder returns >16% Capital Markets Day 2025 79