Slide 1: Second quarter results
Second quarter results 2 Lars Olav Olaussen, CEO Krister Pedersen, CFO 19 July 2022 KOMPLETT°GROUP
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 ou
Slide 3: Highlights for the quarter
Highlights for the quarter: | Attractively positioned for the long-term - but recent performance has been hampered by challenging markets o 12 per cent revenue CAGR since 2019 despite challenging markets in recent quarters o Higher inventory levels across the industry puts pressure on gross margins
Slide 4: Revenue growth from M&A
| Revenue growth from M&A © Contribution from NetOnNet of NOK 1500 million drives revenue growth RATES EOS o Revenue decline of 14 per cent excluding nae ed NetOnNet due to challenging market conditions, || especially in B2C 2409 2.061 © Soft demand in core B2C categories following | |_| periods of
Slide 5: Gross margins under pressure
| Gross margins under pressure o Softer demand has led to higher inventory levels across the industry which entailed increased campaign activity and price pressure o Price pressure and efforts to reduce inventory has impacted gross margin o Efficient inventory reduction for the Group (incl. NetOnNet
Slide 6: EBIT hit by lower gross margins, strong cost control
| EBIT hit by lower gross margins, strong cost control EBIT (adj.) and EBIT margin (adj.)(%)* 94 o Volume decline in B2C and pressure on gross margins resulted in negative EBIT o Effects from NetOnNet combination include: o Marginal EBIT impact from NetOnNet operations o Amortisation of acquired cus
Slide 7: B2C: Attractively positioned segment for long-term
B2C Attractively positioned segment for long-term prospects, but operating in a challenging market o Revenue base increased to NOK 2 504 million including contribution from NetOnNet o Excluding NetOnNet, revenues declined by 27 per cent due to: o More conservative consumer spending © Lower demand in
Slide 8: B2B: Temporary impact from stock clearance and price pressure
B2B Temporary impact from stock clearance and price pressure 330 351 © Solid demand from medium-sized enterprises offset 246 260 by softer demand from smaller businesses o Supply issues due to Covid-19 lockdown in China; major constraints on Apple products 02-19 02-20 02-21 02-22 © Gross margin decl
Slide 9: Distribution
Distribution Stable revenue, while customer and product mix hamper gross margin o Revenue amounted to NOK 713 million, representing 708 ub an increase from 2021, which included major new 332 4 distribution agreements (e) Supply issues due to Covid-19 lockdown in China; Q2-19 02-20 Q2-21 Q2-22 major
Slide 10: Financial performance
| Financial performance Krister Pedersen, CFO Nes @ KompPtett’GRouP
Slide 11: Profit and loss
| Profit and loss o Strong reported revenue pLowth driven by M&A - NetOnNet consolidated from 1 April 202 o Revenue decline excluding NetOnNet, driven by the B2C segment © Strong cost control on operations o Depreciation and amortisation includes NOK 12 million related to amortisation of acquired cu
Slide 12: Cash flow & working capital
s KOMPLETT’GROUP | Cash flow & working capital The positive net cash flow from operating activities is driven by successfully reduction of the inventory by NOK 359 million Cash flow from investing activities is mainly driven by the acquisition of NetOnNet. In addition, NOK 42 million including the l
Slide 13: Financial position
| Financial position o Netinterest-bearing dept (NIBD) incl. IFRS 16 for the period was NOK 3 171 million compared with NOK 937 million last year o NOK1500 million is related to the bridge facility following the acquisition of NetOnNet, and NOK 633 million from leasing liability. The leasing liabili
Slide 14: Summary and outlook
| Summary and outlook Lars Olav Olaussen, CEO Ss @ kompLettT’cRouP
Slide 15: Solid progress on strategic initiatives
| Solid progress on strategic initiatives a) Competitive position strengthened through combination with NetOnNet Oo “Synergy realisation on track Oo, Delivering on ambition of zero emissions from our own operations, including outbound transportation, by Dd 2025 - new packaging line will reduce plast
Slide 16: Key takeaways
| Key takeaways o 12 per cent revenue CAGR since 2019 o Financial performance impacted by temporary market decline and fluctuations in consumer behaviour o Combination with NetOnNet completed and synergies on track © Komplett’s cost leadership position remains well intact with its scalable business
Slide 17: ( KOMPLETT’GROUP
( KOMPLETT’GROUP
Slide 18: Alternative Performance Measures (APMs)
| Alternative Performance Measures (APMs) ‘The APMs used by Komplett Group are set out below (presented in alphabetical order): EBIT adjusted: Derived from Financial Statements.as operating result (EBIT)excluding one-off costs. The Group has presented this, Item becauseit considers it to be auseful
Slide 19: Pro forma figures
KOMPLETT’GROUP == net Pro forma figures KOMPLETT’GROUP 19
Slide 20: Komplett + NetOnNet pro forma key figures
| Komplett + NetOnNet pro forma key figures Key figures 02 2022 ‘Amounts in NOK milion Operating revenue Growth (%) Gross profit’ Gross margin (%)! Operating expenses (ex dep and one-off) (adj.) Depreciation and amortisation Total operating expenses (adj.) Operating Cost Percentage (adj.)" EBIT (adj
Slide 21: Komplett + NetOnNet pro forma key figures
| Komplett + NetOnNet pro forma key figures Key figures YTD 2022 ‘Amounts in NOK milion Operating revenue Growth (%) Gross profit’ Gross margin (%)! Operating expenses (ex dep and one-off) (adj.) Depreciation and amortisation Total operating expenses (adj.) Operating Cost Percentage (adj.)" EBIT (ad
Slide 22: Komplett + NetOnNet pro forma IFRS P&L
| Komplett + NetOnNet pro forma IFRS P&L Q2 2022 InclIFRS ‘Amounts in NOK milion Total operating income Cost of goods sold Employee benefit expenses Depreciation and amortisation expense Other operating expenses Total operating expenses OPERATING RESULT Net finance income and expenses PROFIT BEFORE
Slide 23: Komplett + NetOnNet pro forma IFRS P&L
| Komplett + NetOnNet pro forma IFRS P&L YTD 2022 InclIFRS ‘Amounts in NOK milion Total operating income Cost of goods sold Employee benefit expenses Depreciation and amortisation expense Other operating expenses Total operating expenses OPERATING RESULT Net finance income and expenses PROFIT BEFORE
Slide 24: ( KOMPLETT’GROUP
( KOMPLETT’GROUP