Slide 1: Verisure: Protecting What Matters Most
Verisure: Protecting What Matters Most May 2026
Slide 2: Vision Mission
Vision Mission We believe everyone has the right to feel safe and secure. We protect what matters most. We bring peace of mind to families and small businesses. Source: Company information. 2
Slide 3: Our DNA Defines who we are
Our DNA Defines who we are Source: Company information. 3
Slide 4: Q1 2026 Highlights
Q1 2026 Highlights • Strong Q1 financial performance ahead of expectations – ARR €3,533m, +12.2% y/y (o/w ~2pp Mexico) 1 – Adjusted EBIT €277m, +19.3% y/y – Positive Fre e Cash Flow 2, €39m in Q1 • Global category leadership confirmed – Portfolio now ~6.3m customers – Spain rebrand launched in April
Slide 5: Global Leadership: Long-Term, Uninterrupted Growth
Global Leadership: Long-Term, Uninterrupted Growth Customer Portfolio (m) 7.0 #1 Globally by portfolio size (18 countries) 6.0 Leader in US (US only 1) 5.0 4.0 Leader in Asia (14 countries) #1 In 14 of our 18 Markets 3.0 2.0 1.0 ~6.3m 0.0 Customers protected Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Slide 6: Strategy & Business Review
Strategy & Business Review verisure
Slide 7: Our Verisure Playbook to Unlock The Market
Our Verisure “Playbook” to Unlock The Market Category Creating Go-to-Market Customer Innovation Marketing Excellence Experience Culture & Talent Source: Company information. 7
Slide 8: Long History, Strong Execution Behind Our Playbook
Long History, Strong Execution Behind Our “Playbook” Foundation and initial Becoming independent and H&F acquisition. New management team. international expansion creating the Verisure brand Industrialised business model First steps Became Listed on Verisure H&F & H&F IPO Foundation of Austin toward
Slide 9: Leader in Security Services Across our Footprint With Uninterrupted Growth Track Record
Leader in Security Services Across our Footprint With Uninterrupted Growth Track Record Track Record of Uninterrupted Double - Digit Growth Leaders in Europe, LatAm , and Globally, >6x Larger Than #2 Player 2 1 (€bn) Europe 88% Group Portfolio 3 LatAm 12% Group Portfolio 3 Annualised Recurring Reven
Slide 10: Verisure Operates in the Professionally Monitored Security Market Segment
Verisure Operates in the Professionally Monitored Security Market Segment One Job, Three Levels of Security, Three Segments Complete 24/7 protection solutions featuring all round detection, professional monitoring, Professionally verification, and intervention. Monitored Security Detection - based p
Slide 11: Highly Integrated Business Model with Full Control Over the Value Chain
Highly Integrated Business Model with Full Control Over the Value Chain Focus on the Most Attractive Segments Vertically Integrated Business Model Where we play Product and service innovation Segments: Residential homes, small businesses and selected adjacencies Category - creating marketing Proposi
Slide 12: Self-funding Organic Growth: Re-investing Portfolio Cash Flows to Acquire New Customers
Self-funding Organic Growth: Re-investing Portfolio Cash Flows to Acquire New Customers Recurring Revenue, High Growth, DISCRETIONARY GROWTH INVESTMENTS Profit and Cash High Returns Portfolio Services Customer Acquisition Avg. Customer Portfolio New Installations x x EBITDA per Customer (EPC) x 12 m
Slide 13: Exceptional Consumer Subscription Business
Exceptional Consumer Subscription Business Category 1 Leader Clear Leadership Clear leader ( #1 in 14 out of 18 geographies; #1 worldwide 1) with unique self -funding growth model 2 Long Runway for Growth Monitored security is highly underpenetrated, offering a strong opportunity for growth Differen
Slide 14: Building #1 Brand Positions And Driving Market Segment Growth
1 Building #1 Brand Positions And Driving Market Segment Growth Verisure Brand Awareness 1 Verisure Segment Share 3 2 2 Installed Base in Verisure Footprint 3 (m) CAGR Increase Europe 88% Group Portfolio LatAm 12% Group Portfolio ~15.8 ~5% ~3.3m 79% ~12.5 81% 62% 69% 68% 52% 78% 84% 73% 25% 36% 11%
Slide 15: Significant Penetration Opportunity Means Long Growth Runway Ahead
2 Significant Penetration Opportunity Means Long Growth Runway Ahead Monitored Security Penetration Key Levers for Continued Growth Residential Dwellings and Small Businesses 1 (m), 2025 ~437 <4% • Significant penetration runway ahead: Increase Penetration – <4% current TAM 1 current penetration vs.
Slide 16: We Operate a Portfolio of Geographies at Different Stages of Their Lifecycle
2 We Operate a Portfolio of Geographies at Different Stages of Their Lifecycle Proven, Replicable Expansion Model New Market Entry, Fast Scaling of Value Creation Adaptation, Early Scaling Proven Unit Economics Revenue Growth EBIT Margins Revenue Growth EBIT Margins Revenue Growth EBIT Margins +++ -
Slide 17: Our Geographic Regions
2 Our Geographic Regions Iberia and Nordics Other Europe LatAm Revenue ( €m) Revenue ( €m) Revenue ( €m) 1.853 1.999 1.731 1.340 1.044 1.200 263 303 345 2023 2024 2025 2023 2024 2025 2023 2024 2025 Adjusted EBIT 1 (€m) Adjusted EBIT 1 (€m) Adjusted EBIT 1 (€m) 38% 40% 41% 24% 7% 21% 3% 743 812 0% 66
Slide 18: Significant Penetration Opportunity Remains in Each of Our Geographic Regions
2 Significant Penetration Opportunity Remains in Each of Our Geographic Regions Iberia and Nordics Other Europe Latin America TAM Penetration Residential Dwellings and Small Businesses 1 (m), estimates for 2025 ~4% Monitored security ~195m penetration ~186m Verisure 18 Markets ~56m ~24% ~79m ~40m ~1
Slide 19: Best-In-Class Proposition Designed Around Four Pillars
3 Best-In-Class Proposition Designed Around Four Pillars DETER DETECT VERIFY INTERVENE Deter intruders by showing Cannot ever miss a real Filter false positives. 3 levels of intervention. that the property is incident, Total Shield. Required for effective “It’s what customers protected by the #1 bra
Slide 20: Differentiated Customer Value Proposition Contributes to Leading Attrition
3 Differentiated Customer Value Proposition Contributes to Leading Attrition Ensuring Our Attrition Remains Best - in- Class Best - in- Class Attrition 1 (%) ~14% Quality Customer Intake ~12% ~12% ~10% Super - Serve Customers in Early Life 7.4% Excellent Customer Service (Remote + On - Site) Deep An
Slide 21: Competitive Advantage From Our Vertically Integrated Technology Stack
3 Competitive Advantage From Our Vertically Integrated Technology Stack Award - winning Product and Services Offering. Deter, Detect, Verify and Intervene Arlo TM Arlo TM Solar GuardVision TM GuardVision TM GuardVision TM Central Customer Fire Starkey TM Hold -up Zero LockGuard TM Outdoor VoicePad T
Slide 22: Innovation Built With AI at the Core
3 Innovation Built With AI at the Core Guardian (launched in France) Seniors Protection (launched in Spain) • Outside -the -home, personal protection • Personalised AI models • Geo -location technology • Monitor behavioural changes • Real -time support • Detection of potential emergencies • Connecte
Slide 23: Powerful Economic Model. Continued Margin Expansion
4 Powerful Economic Model. Continued Margin Expansion Average Revenue per User (ARPU) 1 | Recurring Monthly Cost (RMC) ( €) Portfolio Profitability Metrics, Excluding Initial Customer Acquisition Costs 50 Pricing ARPU 45 ARPU CAGR 2 (%) 40 2004 ARPU + inflation (L10Y) (L5Y) Innovation 35 2.0% 2.5% C
Slide 24: Already Capitalising on AI – And Growing Opportunities Ahead
4 Already Capitalising on AI – And Growing Opportunities Ahead Verification Accuracy Cost Reduction Revenue Growth • Better verification of false positives • Increased DIY issue fix rates • Invisible detraction using AI -backed speech analytics • Improving verification speed • AI-backed knowledge to
Slide 25: Proven Resilience Through the Cycle (1/2)
5 Proven Resilience Through the Cycle (1/2) Annualised Recurring Revenue ( €bn) 1 Customer Attrition (%) 3,4 CAGR (%) (L15Y) (L10Y) (L5Y) 14% 14% 13% 8% 7,4% 6% Verisure’s attrition corridor 2011 2017 2012 2013 2015 2021 2019 2014 2016 2010 2018 2022 2023 2025 2024 2020 2009 2008 2008 2010 2012 2014
Slide 26: Proven Resilience Through the Cycle (2/2)
5 Proven Resilience Through the Cycle (2/2) New Installations (‘000) Acquisition Multiple 1 (x) 873 CAGR (%) (L15Y) (L10Y) (L5Y) 10% 11% 6% 4.00x 3,7x 3.25x Disciplined evolution of customer acquisition costs within target corridor 2011 2017 2012 2013 2015 2021 2019 2014 2016 2010 2018 2022 2023 202
Slide 27: Resilient Business Model - Algorithm for Double-Digit Growth
5 Resilient Business Model - Algorithm for Double-Digit Growth Medium - Term Guidance 10% ARR: Balanced, Quality Growth Low Penetration Resilient Portfolio Growing ARPU Expansion ~4% penetration ~15 years1 +2.5% 5yr ARPU CAGR2 New Markets across footprint average customer lifetime no “front -book/ba
Slide 28: Compounding Long-Term Value
5 Compounding Long-Term Value Cash to reinvest in growth Quality customer intake Shareholder returns Quality growth, Margin expansion, Cash generation Stable growing Strong portfolio portfolio economics Source: Company information. 28
Slide 29: Talented, Proven, Experienced Leadership Team
Talented, Proven, Experienced Leadership Team | “Ownership Mindset” Austin Lally Antonio Anguita Olivier Allender Chief Executive Officer President Southern Europe, President Central Europe, UK, Nordics and LatAm Ireland and Arlo 12 Years at Verisure 13 Years at Verisure 14 Years at Verisure 38 Year
Slide 30: High Calibre Evolving Board Composition, Strengthening Independence
High Calibre Evolving Board Composition, Strengthening Independence Evolution Principles Board Composition Post - IPO Other Board Chair Succession Members Chairman role to pass onto a fully independent Chair latest once H&F falls below Dominique Graeme Cecilia Beck - Adrien Motte 25% ownership Andre
Slide 31: Recognised Externally as a Best-in-Class Employer
Recognised Externally as a Best-in-Class Employer Consistently leading the way in Employer Excellence across our Key Countries FT Best Employers ® in Europe in 2025 and 2026 Top Employer ® in Europe in 2024, 2025 and 2026 Top Employer ® and/or Great Place to Work ® in 17 countries 2 2019-20 2021 202
Slide 32: Financial Review
a Financial Review e verisure
Slide 33: Financial Performance
Financial Performance Financial Headlines ( €m) Quarterly Q1 2025 Q1 2026 y/y y/y @ cc ARR 3,150 3,533 +12.1% +12.2% ARR - Previous Definition 1 3,225 3,635 +12.7% +12.2% Revenue 920 1,019 +10.8% +10.3% Adjusted EBITDA 419 472 +12.8% +12.3% Adjusted EBIT 231 277 +20.1% +19.3% Adjusted EBIT Margin (%
Slide 34: Portfolio Services
Portfolio Services ARPU ( €) RMC (€) EPC ( €) +2.2% +0.6% +2.8% @ constant currency @ constant currency @ constant currency +2.7% 47,0 48,3 +3.3% 34,4 35,5 1.2% 12,6 12,7 Q1 Q1 Q1 Q1 Q1 Q1 2025 2026 2025 2026 2025 2026 RMC slightly higher due to Mexico integration Portfolio margin expansion, 2026 pr
Slide 35: Customer Acquisition
Customer Acquisition New Installations (‘000) Cost per Acquisition (CPA) ( €) Acquisition Multiple 3 (x) +6.7% +2.7% @ constant currency +0.1x 217 223 3,7x +7.1% 3,6x 1.574 1.469 Q1 Q1 Q1 Q1 Q1 Q1 2025 2026 2025 2026 2025 2026 Disciplined growth, Attractive returns Broadly stable, attractive focus o
Slide 36: Free Cash Flow Positive in Q1 2026
Free Cash Flow Positive in Q1 2026 Operating Cash Flow Reinvested into Accretive Customer Acquisition and Delivering Positive FCF Q1 2026 Cash Flow Bridge ( €m) Customer Acquisition ~117k ~106k customers customers 196 acquired acquired to offset to grow attrition portfolio (122) 499 195 (48) Q1 incl
Slide 37: 2026 Outlook and Reminder of Medium-Term Guidance
2026 Outlook and Reminder of Medium-Term Guidance 2026 Outlook Medium Term Guidance Annual growth • ARR growth around 10% (excluding Mexico) ARR around 10% • Adjusted EBIT margin above 26% Up to 100 bps Total below ARR growth • Free Cash Flow positive Revenue Total Revenue • Interim Dividend expecte
Slide 38: Key Takeaways
Key Takeaways • Strong performance across the board in Q1 2026 • Global leadership confirmed – growing scale advantage • Resilient business model • Cash Flow positive – first dividend expected in H2 2026 • 2026 outlook and medium -term guidance fully reiterated Source: Company information. 38
Slide 39: Appendix
Appendix @ verisure
Slide 40: Verisure Key Numbers: 2025
Verisure Key Numbers: 2025 Customer Portfolio Revenue Adjusted EBIT ~6.2m €3,745m €953m +10.0% y/y +10.3% y/y +15.5% y/y New Installations Annual Recurring Revenue (ARR) Adjusted EBIT Margin 873k €3,448m 25.4% +12.7% y/y +115 bps y/y +3.9% y/y Source: Company information. Notes: All y/y growth rates
Slide 41: 2025 Financial Performance
2025 Financial Performance Financial Headlines ( €m) Quarterly Full Year Q4 2024 Q4 2025 y/y y/y @ cc 2024 2025 y/y y/y @ cc ARR 3,068 3,448 +12.4% +12.7% 3,068 3,448 +12.4% +12.7% Revenue 870 965 +10.9% +10.7% 3,408 3,745 +9.9% +10.3% Adjusted EBITDA 382 421 +10.2% +9.4% 1,534 1,708 +11.3% +11.2% A
Slide 42: Leverage and Net Debt
Leverage and Net Debt Deleveraging on track, now at 2.8x WACD Reduction Progress 1 (x) Total Net Leverage 1 (x) Total Net Leverage Recap 2,8x 2.50-2.75x 6,2x 5,9x 5,7x 5,5x 5,4x 5,2x 5,0x 4,9x 4,9x 4,8x 4,7x Q1 2026 2026 Objectives 2,9x 2,8x WACD2 (%) ~4.9% 4.0-4.5% €200 -220m Interest interest savi
Slide 43: Improving Cash Flow Conversion
Improving Cash Flow Conversion Decreasing Portfolio Reinvestment Rate 1… … Delivers Increasing Cash Conversion CAGR Portfolio Cash Flow ( A €m) 2 (19-25 ) Customer Acquisition Cost ( €m) 3 B 2.218 +14% 68% 69% 130 70 Portfolio Reinvestment Rate (%) 1 B A 60% 120 60 110 44% 45% 50 42% 100 40 30% ~€90
Slide 44: Geographic Regions: Profitability and Cash Flow
Geographic Regions: Profitability and Cash Flow Adjusted EBIT ( €m) Adjusted Operating Cash Flow ex. Change in WC ( €m) 40% 41% 21% 24% 3% 7% 24% 25% 89% 89% 53% 66% n.m. n.m. 68% 69% +16% +9% 953 +9% 812 819 +19% 743 720 661 661 553 +23% +52% 317 258 208 +146% 137 9 23 (21) (13) Iberia and Other La
Slide 45: Monitoring Return on Investment
Monitoring Return on Investment Customer Lifetime Value (CLV) New Customer IRR 1 Return on Capital Employed (ROCE) 2 Capital Employed (€m) ( ) /( ) Book 1 / L5Y x Acquired + - Adjusted EPC*12 EBIT Value of Borrowings Intangibles Attrition (€) Equity (€m) (%) (€m) (€m) (€m) ~€5,700 ~20% ~27% in 2025
Slide 46: Recap: Capital Allocation and Dividend Policy
Recap: Capital Allocation and Dividend Policy 1 Invest in • Increasing New Installations Organic Growth • Technology Innovation 2 Balance Sheet • IPO leverage ~3.0x Management • Leverage post -IPO 2.50x - 2.75x, by end of 2026 3 Selective M&A • Company growth strategy will remain very largely organi
Slide 47: Income Statement and Cash Flow Statement
Income Statement and Cash Flow Statement Quarterly Summary Income Statement ( €m) Quarterly Summary Cash Flow Statement ( €m) Q1 2025 Q1 2026 Q1 2025 Q1 2026 Revenue 919.9 1,019.3 CF from Operating Activities Before Δ in WC 391.6 453.0 Adjusted EBITDA 418.8 472.3 1 D&A and Asset Retirements (188.2)
Slide 48: Balance Sheet
Balance Sheet Assets ( €m) Equity and Liabilities ( €m) Mar25 Mar26 Mar25 Mar26 Property, Plant and Equipment 1,617.3 1,745.6 Total Equity 5,977.2 8,882.9 Right of Use Assets 193.3 212.0 Long -term Borrowings 7,687.2 4,947.8 Goodwill 7,675.5 7,738.2 Derivatives 23.3 3.4 Customer Portfolio 4,176.8 4,
Slide 49: Disclaimer
Disclaimer This presentation does not constitute or form part of, and should not be construed as, an offer to sell or issue, or the solicitation of an offer to purchase, subscribe to or acquire our securities, or an inducement to enter into investment activity in any jurisdiction in which such offer