Slide 1: Q1 2026
Q1 2026 May 13th 2026 Leading mobile & circular technology company
Slide 2: The presenters today
The presenters today: New CFO from May 1st Morten Meier – Chief Executive Officer Mr. Meier is a seasoned senior executive with more than 25 years of experience from the software and technology industry, including leadership, strategy, business development, sales, marketing and operations. He has a
Slide 3: Business update, strategy and execution
Business update, strategy and execution
Slide 4: Techstep at a glance
Techstep at a glance We make mobile technology work for you CONSULTANCY 190 EMPLOYEES IN 4 COUNTRIES SOFTWARE HARDWARE END-TO-END SOLUTIONS 2,000+ CUSTOMERS in enterprise and public sector. 80+ PARTNERSHIPS GARTNER MARKET GUIDE with leading tech companies, resellers, Recognised Managed Mobility Serv
Slide 5: Q1 heavily impacted by divestment and ERP/dCom project
Q1 heavily impacted by divestment and ERP/dCom project 1. Successful carve-out A strategic move to focus resources, expertise and offerings Impact on Q1: • Carve-out closing on February 2nd 2. Decisive cost-base reductions • New and optimized organization effective from March 1sft. Right sizing and
Slide 6: Our growth engine: Two distinct market channels and strategies
Our growth engine: Two distinct market channels and strategies Indirect sales channel Volume growth scale in Gross Profit Growth 35% volume Indirect Sales (partners) expanding in Europe 15% Margin growth Direct sales channel Direct Sales (customers) 65% growth in 85% margin 2025 2029 in our Nordic h
Slide 7: Clear focus on our core business and channels
Clear Focus on our core business and channels Indirect sales Direct sales Scale in volume via Growth in margin via Mobile Operators and IT Service Direct customers in the Nordics Providers Increase value for customers by up- Increase value and complement their sell and cross-sell Managed Mobility of
Slide 8: Commercial highlights Q1
Commercial highlights Q1 Key wins and commercial update Generalitat de Catalunya – Secured our largest agreement in Spain with our partner Vodafone following the successful Proof-of-Concept for Mobile Device Management (MDM) and Security (MTD) we delivered during Q4. This agreement covers all public
Slide 9: Financials Q1 2026
Financials Q1 2026 techStep
Slide 10: Q1 2026 overview
Q1 2026 overview 1 Revenues NGP margin NOK 219.4m 26% +4% y/y -7pps y/y EBITA adjusted ARR adjusted 2 NOK -11.5m NOK 261.0m -12.5m +8% 1 All numbers compared to proforma historical figures excluding divested business 2 ARR is adjusted for the termination of the contract on legacy Telecom Expense sol
Slide 11: EBITA impacted by discontinued Telecom Expense solution and delayed rollouts in Health sector
EBITA impacted by discontinued Telecom Expense solution and delayed rollouts in Health sector Quarter NGP impacted by higher revenues, termination of legacy Telecom Expense solution and delayed Health sector rollout Q1 2025 Q 1 y/y (Amounts in NOK 1 000) Q1 2026 Proforma • Total revenues above Q1 25
Slide 12: Growth in recurring revenues when excl terminated contract
Growth in Recurring revenues when excl terminated contract related to legacy Telecom Expense solution Recurring revenue annualized (ARR) 1 NOK million 263 263 261 242 241 Actual ARR of NOK 261 million for Q1 2026 • ~ NOK 65 million in ARR divested, less than 20% of total ARR Proforma/Actual • Increa
Slide 13: LTM NGP at stable level, following the divestment
LTM NGP at stable level, following the divestment Net gross profit LTM NOK million 400 300 Q1 Net gross profit LTM proforma of NOK ~248 million • The anticipated growth has taken longer to materialize than expected. 200 • Continued focus on tuning the commercial strategy to improve margins 100 • The
Slide 14: Cash flow impacted by positive working capital development
Cash flow impacted by positive working capital development Operating cash flow after investments in DaaS of NOK 12.5 (Amounts in NOK 1000) Q1 2026 Q1 2025 2) FY 2025 2) million EBITDA adjusted 12 574 31 010 123 496 • Weaker EBITDA adjusted in the period Change in working capital (1 621) (24 403) (1
Slide 15: Balance sheet
Balance sheet (Amounts in NOK 1000) Q1 2026 Q1 2025 2025 Non-current assets 600 172 801 443 614 606 Assets related to DaaS 146 594 168 481 154 640 • Non-current assets Total non-current assets 746 766 969 924 769 246 • Non-current assets include goodwill of NOK 485 million Current assets excl cash 1
Slide 16: Summary
Summary Optimised, streamlined and focused • Core own software platforms grew 17% y/y We are on a mission to • Organisation and cost base optimised become: • New ERP, commerce (webshop) and automation platform The Leading • Core systems and organisation are AI-enabled European • Growing eco-system a
Slide 17: Disclaimer
Disclaimer This presentation (the “Presentation”) has been prepared by Techstep ASA (“Techstep” or the “Company” and together with its subsidiaries the "Techstep Group"). The Presentation has been prepared and is delivered for information purposes only. It has not been reviewed or registered with or
Slide 18: We make mobile technology work for you
We make mobile technology work for you