Slide 1: Q1 2026 Interim financial results presentation
Q1 2026 Interim financial results presentation 28 May 2026
Slide 2: Disclaimer
Disclaimer The following disclaimer applies to this document, any oral or video presentation of the information in this document by Azerion Group N.V. (“Azerion Group”) or any person on behalf of Azerion Group and any question-and-answer session that follows the oral or video presentation (collectiv
Slide 3: Forward-looking statement
Forward-looking statement The Information includes statements, including Azerion Group's financial and operational objectives that are, or may be deemed to be, “forward-looking statements”. These forward-looking statements may be identified by the use of forward-looking terminology, including the te
Slide 4: Message from the CEO
Q1 2026 Message from the CEO Record Q1 profitability Optimised Platform Scaling smart partnerships fueled by efficiencies focus on advertising and focus on growth AAA Game distribution
Slide 5: Europe represents a large and high-growth market for digital advertising
Europe represents a large and high-growth market for digital advertising $179.9B Ad spend 22.0% Global Ad spend 7.6% Digital Ad spend growth 5 Source: Dentsu Global Ad Spend Forecast December 2024
Slide 6: European leader in digital advertising - delivering global reach and engaged audiences
European leader in digital advertising - delivering global reach and engaged audiences Azerion at a glance (3) 844 HQ FTE 30 offices in 17 countries Notes: (1) Total number of unique monthly active users that are reached through all our products, including through our digital publisher network; aver
Slide 7: Business achievements
Continues top line delivering Business achievements Everyone, Everywhere/ precision • Using "agentic" AI approach, redesigned our core platform to launch tools like the Deal Troubleshooter to automate Demand-side platform yield, and the generative-AI Personas tool to cut audience profiling from week
Slide 8: Financial Highlights
Q1 2026 Financial Highlights
Slide 9: Bottom line focus, best Q1 profitability
Continuing operations Bottom line focus, best Q1 profitability Revenue Adj. EBITDA EBITDA Operating profit Q1 2026 ~€117.4M ~€9.4M ~€6.7M ~€(2.0)M YoY +1.6% +11.9% +42.6% +67.7%
Slide 10: Growth and increasing profitability
Continuing operations Growth and increasing profitability €m Revenue 116 117 108 • By stripping out one-off and non-cash items, Adjusted 89 EBITDA shows the underlying advertising business is growing stronger every year, with adj. Ebitda margins expanding from 2.9% in Q1 '23 to 8.0% in Q1 ’26 • The
Slide 11: Operating performance; growing revenue per FTE
Efficiency gains Operating performance; growing revenue per FTE €m 250 2,450 2,250 196 200 2,050 167 152 1,850 143 147 150 142 136 126 129 1,650 117 96 100 1,450 93 100 76 78 74 73 1,250 50 1,050 850 - 650 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 202
Slide 12: Highly flexible cost base and accelerating operational leverage
Resulted 2026 start Highly flexible cost base and accelerating operational leverage €m Costs of services and materials Personnel expenses Other opex Revenue (continuing operations) Opex % of revenues • Our cost base is primarily driven by costs of services and materials (~75% of total costs) and 543
Slide 13: A cleaner financial foundation
A cleaner financial foundation Debt profile and refinancing Liquidity and settlement ✓ Deal Whow upfront payment € 55M ✓ Settled majority of loan with Principion Holding B.V. ✓ Successful bond refinancing provides • Reclaimed 10.54M treasury shares in transaction structural interest savings for the
Slide 14: Strategy Update
Qs azerion | Ql 2026. Strat
Slide 15: European market under pressure
European market under pressure
Slide 16: Fragmented digital advertising landscape creates inefficiencies
Fragmented digital advertising landscape creates inefficiencies Demand -side Supply -side Advertiser Agency platform Ad networks platform Publisher Ad servers Facilitate digital Create Buy Facilitate digital ads media inventory purchases inventory sale Spends Ad exchange Receives Data platform Brand
Slide 17: Helping European partners accelerate their business
Helping European partners accelerate their business Media Agencies Media Saleshouses Online Publishers SME Resellers
Slide 18: Outlook
Business update Outlook FY 2026 and Medium-Term Guidance EURm 595 541 497 • Despite global macroeconomic and geopolitical 437 uncertainties, our platform remains resilient and 363 positioned to outpace the market. 235 • H2 partnerships to accelerate revenue 151 • We remain optimistic in our ability
Slide 19: Q&A
As azerion Q&A
Slide 20: END
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