Slide 1: Interim Report Q3 2025
Interim Report Q3 2025 Per Norén CEO André Löfgren CFO
Slide 2: Ovzon on a page
Ovzon on a page VISION OVZON PERFORMANCE MSEK Ovzon delivers fully integrated, 600 565 60% high-performance mobile 500 40% satellite communication 400 355 20% 334 solutions — bringing resilient, 300 290 0% secure connectivity to the 200 190 -20% world’s most demanding 100 -40% environments 0 -60% 20
Slide 3: Satellite communications — the unbreakable link in a fragile world
Satellite communications — the unbreakable link in a fragile world • Over 60% of Earth lacks reliable terrestrial connectivity • Global SATCOM market > $100B by 2030 (CAGR >9%) • Critical to NATO, EU, US and national security strategies 4 FRAGILE INFRASTRUCTURE RESILIENCY FROM SPACE CRITICAL FOR SEC
Slide 4: Ovzon value proposition
Ovzon value proposition proposition Integrated SATCOM Ovzon provides solutions unique for critical SATCOM missions solutions with market leading performance, mobility and resiliency. We enable critical missions for defense, national security and public safety customers. SPACE SEGMENT MOBILE SATELLIT
Slide 5: Ovzon
Live radar sharing Ovzon Secure Reliable broadband for Secure broadband connections transport aircraft for fast aircraft at sea Fast data for boats and ships Works even through helicopter rotors Stable link for remote- controlled vessels Connected Headquarters Support for small drones Internet acces
Slide 6: Q3 accomplishments
Q3 accomplishments Strong growth and continued improved profitability During the quarter • Completed refinancing – new Loan Facility with Danske Bank • Jeanette Irekvist appointed Chief Commercial Officer – brings extensive international experience in technology and telecommunications • Additional o
Slide 7: Solid order book
Solid order book ORDER INTAKE (MUSD) ORDER BOOK (MUSD) 180 140,0 160 121,9 143,0 120,0 140 108,0 120 113,9 100,0 100 80,0 80 60,0 60 40 40,0 31,3 17,8 19,0 22,0 25,0 20 7,4 2,2 20,0 0 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 0,0 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 QTD R12 • Order intake in the quarter totaled 7.4 (1
Slide 8: Delivering on our commitments
Delivering on our commitments Operational excellence • Utilizing Ovzon 3 while scaling up third party capacity • Full third party satellite capacity activated from September • Delivered mobile satellite terminals to a total value of 94 MSEK in Q2 and Q3, 2025 Customer trust reinforced • Actively ens
Slide 9: Increasing revenue
Increasing revenue REVENUE (MSEK) RUN RATE SERVICE REVENUE (MSEK)* 202 700 645 200 166 600 175 150 500 450 125 107 400 101 95 322 91 90 312 305 100 78 73 300 252 247 259 255 69 65 67 217 223 230 75 57 200 145 50 25 100 0 0 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25
Slide 10: Profitability continues to improve
Profitability continues to improve EBITDA AND EBITDA MARGIN (MSEK) EBIT AND EBIT MARGIN (MSEK) 110 50% 60 54 40% 100 95 40% 50 90 30% 30% 40 80 20% 63 20% 27 70 30 60 10% 10% 50 0% 20 40 -10% 10 0% 30 18 -20% 0 17 -10% 20 12 -30% 10 -10 -40% -20% 0 -20 - 12 - 14 -50% - 17 - 18 - 16 -30% -10 -20 -5 -
Slide 11: Strong cash flow and solid financial position
Strong cash flow and solid financial position CASH FLOW FROM OPERATIONS (MSEK) NET DEBT (MSEK) 300 300 700 636 649 250 250 587 600 199 529 200 200 500 150 150 400 100 100 60 66 328 50 50 300 0 0 200 -50 -14 -50 100 -100 -69 -100 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 0 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 QTD R12 •
Slide 12: Refinancing
Refinancing New loan facility in place • Solid foundation with flexibility – serving as a base for future growth • 300 MSEK Revolving Credit Facility • 300 MSEK Term Loan • Tenor 2+1 Year • Interest rate: STIBOR 3m + 2.2 to 2.9% Significantly reduced interest cost – starting Q4 2025 Ovzon / CMD 2025
Slide 13: Strong growth and continued improved profitability
Strong growth and continued improved profitability REVENUE (MSEK) EBITDA (MSEK), 250 600 100 95 250 565 202 500 80 193 200 200 63 166 400 150 60 150 100 300 107 40 100 95 90 50 200 18 17 20 12 0 50 100 0 -50 0 0 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 QTD R12 QTD R12 OPERATING CA
Slide 14: Ovzon business model
Ovzon business model Services • Customer networks generate monthly service revenue • Profits through strong service margins • Positive cashflow and progressive payment terms Mobile satellite terminals • Revenue and profits generated when delivered • Larger orders allows for more cost effective suppl
Slide 15: Going forward
Going forward DELIVER FINANCIAL ENSURE COMMERCIAL ACTIVELY PERFORMANCE SUCCESS SCALE UP
Slide 16: Thank you!
THE OVZON COEFFICIENT Performance Mobility Resiliency Thank you!