Slide 1: Revenue and adjusted operating result decreased in the fourth quarter, operating cash flow was strong
REVENUE AND ADJUSTED OPERATING RESULT DECREASED IN THE FOURTH QUARTER, OPERATING CASH FLOW WAS STRONG Q4 2025 Results CEO Juha Kalliokoski CFO Enel Sintonen Q4 2025 RESULTS 25.2.2026 1
Slide 2: Table of contents
TABLE OF CONTENTS Q4 2025 RESULTS 1. Q4 in brief 2. Market position, Changes in showroom network 3. Review by country 4. Financial development & Outlook 5. Long-term targets, Strategy 6. Q&A Q4 2025 RESULTS 25.2.2026 2
Slide 3: Strong cash flow and healthy inventory prioritized in tough operating environment
STRONG CASH FLOW AND HEALTHY INVENTORY PRIORITIZED IN TOUGH OPERATING ENVIRONMENT Revenue decreased 13.3% to EUR Adjusted operating result was Revenue from integrated The Group’s customer 205.2 million (236.7) due to decrease EUR -1.9 million (0.7), or -0.9% services was EUR 13.3 million satisfactio
Slide 4: Kamux continues as #1 in number of cars sold in Finland
KAMUX CONTINUES AS #1 IN NUMBER OF CARS SOLD IN FINLAND Market size Kamux market Market development in Kamux position and In 2025, new passenger car Market (2025) share* Q4 2025 development in Q4 2025 registrations in the EU increased by 1.8% (ACEA). ~7.0% Kamux maintained its ~0.8 million Market co
Slide 5: Changes in showroom network
CHANGES IN SHOWROOM NETWORK Finland Sweden Germany Total Mäntsälä and Savonlinna showrooms closed, Schwerin showroom 2025 Jyväskylä showroom - opened in July 2025 -1 moved in new premises Total showrooms on 42 17 9 68 December 31, 2025 Malmi and Herttoniemi Announced showrooms to be closed - - -2 op
Slide 6: Finland: Kamux continued as market leader
FINLAND: KAMUX CONTINUED AS MARKET LEADER MEUR % 250,0 5 200,0 4 • Market contracted slightly in the quarter, 4% growth 150,0 3 for the full year but only +0.6% via dealerships, 100,0 2 competition remained tough 50,0 1 • Consumers continued to prefer affordable cars – used car prices at a lower lev
Slide 7: Sweden: Direction is right, more volume needed
SWEDEN: DIRECTION IS RIGHT, MEUR % MORE VOLUME NEEDED 50 0 40 -1 30 -2 • Market contracted slightly, consumers continued to 20 -3 prefer older and affordable cars 10 -4 • Volumes stable, revenue impacted by lower average 0 -5 price following consumer preferences Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 • Margi
Slide 8: Germany: Challenges continued
GERMANY: CHALLENGES MEUR % CONTINUED 30 0 -1 25 -2 20 -3 • Market was at the same level as in Q4/24, 15 -4 -5 used car prices at a higher level than PY 10 -6 5 • Number of cars sold grew but at the cost -7 0 -8 of margin Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 • Revenue increased as a result of volume Revenue
Slide 9: Financial development and outlook
FINANCIAL DEVELOPMENT AND OUTLOOK Q4 2025 RESULTS 25.2.2026 9
Slide 10: Strong cash flow and healthy inventory in focus
STRONG CASH FLOW AND HEALTHY INVENTORY IN FOCUS • Sold volumes and revenue declined, yet decline was slowing in Q4 • Gross margin improved for the third consecutive quarter • Gross profit EUR 1,291 per car (1,358), -4.9% Right • Strong cash flow and healthy inventory prioritized direction, • Unlocki
Slide 11: Key figures
KEY FIGURES (MEUR) 10-12/2025 10-12/2024 Change, % 1-12/2025 1-12/2024 Change, % Revenue 205.2 236.7 -13.3% 875.9 1,010.2 -13.3% Gross profit 17.9 20.2 -11.3% 85.3 96.8 -11.9% as percentage of revenue, % 8.7% 8.5% 9.7% 9.6% Operating result (EBIT) -2.6 -0.7 -305.0% 0.6 7.9 -92.8% as percentage of re
Slide 12: Focus on profitable deals continued in a challenging operating environment
FOCUS ON PROFITABLE DEALS CONTINUED IN A CHALLENGING OPERATING ENVIRONMENT… Sold cars (pcs) 20,000 19,364 18,484 1,567 18,000 17,215 17,037 1,515 16,354 -6.7% 1,414 16,137 16,000 3,529 1,684 15,727 15,324 1,322 2,774 1,428 14,890 14,694 1,300 1,239 1,209 13,889 14,000 3,493 3,046 1,344 13,208 2,770
Slide 13: Low volumes key driver for operating result
LOW VOLUMES KEY DRIVER FOR OPERATING RESULT Revenue (EUR million) Adjusted operating profit (EUR million) 13 280 12 260 11 240 10 220 9 200 8 180 7 160 6 140 5 120 4 100 3 80 2 60 1 40 0 20 -1 Q1 Q2 Q3 Q4 0 -2 Q1 Q2 Q3 Q4 -3 2022 2023 2024 2025 2022 2023 2024 2025 Revenue was EUR 205.2 million (236.
Slide 14: Operating cash flow improved significantly following prudent inventory management
OPERATING CASH FLOW IMPROVED SIGNIFICANTLY FOLLOWING PRUDENT INVENTORY MANAGEMENT Components of Cash Flow from Operating Activities 1-12/2025 (EUR million) 55 34.6 0.4 50.4 50 45 40 35 30 25 20 17.6 15 10 5 0 -5 -2.3 Net result 1-12/2025 Depreciation and Change in Paid financial Cash flow from other
Slide 15: Revenue from integrated services remained stable
REVENUE FROM INTEGRATED SERVICES REMAINED STABLE Revenue from integrated services MEUR 18 10% -0.4 / +0.7% 16 15,4 9% 14,6 13,6 13,6 13,7 13,7 8% 14 13,4 13,2 13,0 13,3 12,4 11,5 6,4% 6,3% 6,5 % 7% 12 5,8% 5,7% 5,9% 5,5% 5,4% 6% 10 5,2% 5,2% 4,9% 4,8% 5% 8 4% 6 3% 4 2% 2 1% 0 0% Q1/23 Q2/23 Q3/23 Q4
Slide 16: Inventory levels adjusted to season
INVENTORY LEVELS ADJUSTED TO SEASON Net Working Capital (EUR million) Inventories (EUR million) 140 140 -30.8 m / -23.5% -35.3 m / -30.9% 120 120 100 100 80 80 60 60 40 40 20 20 0 0 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q4 2025 RESULTS 25.2.2026 16
Slide 17: Outlook for 2026
OUTLOOK FOR 2026 Kamux expects its adjusted operating profit for 2026 to increase from the previous year. Q4 2025 RESULTS 25.2.2026 17
Slide 18: Dividend from 2025
DIVIDEND FROM 2025 • The Board of Directors proposes a dividend of EUR 0.05 per share to be distributed for the year 2025 (EUR 0.07 per share) • Kamux Corporation’s distributable earnings totaled EUR 88 million on December 31, 2025 • The Board proposes that the dividend be paid in one instalment on
Slide 19: Share buy-back program
SHARE BUY-BACK PROGRAM • According to the authorization of the AGM 2025, Kamux commenced a share buy-back program on November 17, 2025 • The Board of Directors has decided to extend the program to 2.000.000 shares, corresponding to approximately 5% of the company’s total number of shares • The maxim
Slide 20: Long-term targets and strategy
LONG-TERM TARGETS AND STRATEGY Q4 2025 RESULTS 25.2.2026 20
Slide 21: Tracking progress towards our long-term targets
TRACKING PROGRESS TOWARDS OUR LONG-TERM TARGETS LONG-TERM TARGET FY 2022 FY 2023 FY 2024 LTM(1 FINANCIAL Sold cars, pcs 100,000 / year 62,922 68,257 66,548 57,518 Revenue, MEUR 1,500 / year 969 1,002 1,010 876 Adj. EBIT margin, % 4% 1.8% 1.8% 1.1% 0.4% NON-FINANCIAL Q4/25 NPS(2 60 50 51 65 eNPS(3 40
Slide 22: Group management team
GROUP MANAGEMENT TEAM Juha Kalliokoski Enel Sintonen Johan Kempas Marcus Mezödi Joni Tuominen CEO CFO Managing Director, Sweden Managing Director, Germany Managing Director, Finland Joanna Clark Aino Hökeberg Jarkko Lehtismäki Chief People Officer Chief Business Development Chief Digital Officer and
Slide 23: One Kamux – productivity improvement
ONE KAMUX – PRODUCTIVITY IMPROVEMENT Optimizing volume and Data-driven profitability pricing and S&OP PASSIONATE AND CAPABLE EMPLOYEES One Kamux way, Inventory and showrooms, Consistent way of working, fit selection, no lazy capital clear standards and controls Q4 2025 RESULTS 25.2.2026 23
Slide 24: Customer promise, operational efficiency, M&A to accelerate growth
CUSTOMER PROMISE OPERATIONAL EFFICIENCY Become the most friendly, Industrialize convenient and standardize operations and trustworthy used car across value chain retailer M&A TO ACCELERATE GROWTH Customer-centric Global and local purchasing offering for consumers teams to utilize power of and profes
Slide 25: Our vision: become the #1 used car retailer in Europe
OUR VISION BECOME THE #1 USED CAR RETAILER IN EUROPE Q4 2025 RESULTS 25.2.2026 25
Slide 26: Q&A
Q&A Q4 2025 RESULTS 25.2.2026 26
Slide 27: Thank you!
THANK YOU! Q4 2025 RESULTS 25.2.2026 27
Slide 28: Disclaimer
DISCLAIMER It should be noted that Kamux and its business are exposed to various risks and uncertainties, and certain statements herein which are not historical facts, including without limitation, those regarding expectations for market growth and developments; expectations for growth and profitabi