Vend Marketplaces Asa · OSL:VEND
Vend Marketplaces Asa — Q3 2026 Earnings Presentation
36 slides from Vend Marketplaces Asa's earnings presentation, Oct 27, 2026
Slide 1: Q3 2026 Results
Q3 2026 Results 27 October 2026 Christian Printzell Halvorsen, CEO Per Christian Mørland, CFO
Slide 2: Disclaimer
Q3 2026 Results | Disclaimer Disclaimer This presentation (hereinafter referred to as the “Presentation”) has been prepared by Vend Marketplaces ASA ("Vend" or the “Company”) exclusively for information purposes and does not constitute an offer to sell or the solicitation of an offer to buy any fina
Slide 3: Summary
Q3 2026 Results Summary Key financials Strategic highlights * +6% • Monetisation: Continued ARPA-led growth across the verticals • AI: Turning trust and data into agentic products – AI features live in every vertical, from FINN’s Talent Search Revenues YoY to dealer recommendations via Dealer Hub (N
Slide 4: Blocket recovery continues
Q3 2026 Results Blocket recovery continues BLOCKET TOTAL MOBILITY RECOMMERCE 1.5 → 3.5 -26% → -5% +17% User satisfaction recovering towards Private car listings YoY, Q1 to September Transacted GMV YoY in Q3 pre-transition levels +1% outperforming the B2C market (-5%**) Professional car listings YoY,
Slide 5: Beyond the search box: Building the agentic future
Q3 2026 Results Beyond the search box: Building the agentic future Strong and robust positions Leading the agentic future Our market is getting bigger with unique data AI agents are only as good as their data Serving needs beyond search and discovery 99% Brand awareness* for FINN Real-time ad data V
Slide 6: New products and AI features keep launching
Q3 2026 Results New products and AI features keep launching MOBILITY ● Dealer Hub AI recommendations ✦ ● AI-assisted OEM brand stores ✦ 89% positive feedback on AI recommendations in Dealer Hub; ● New Car ✦ ● Tryggad Bilaffär usage doubled Aug–Sep REAL ESTATE ● Bytt stil ✦ ● Visual search, Oikotie ✦
Slide 7: Talent Search: AI-powered recruitment from FINN
Q3 2026 Results Talent Search: AI-powered recruitment from FINN Adjust criteria Candidates Delivering interview-ready talent 30 candidates matched in 3 days Candidate 1 ☆ Selected Siri, you have been handpicked for this job Talent Search uses AI and agentic capabilities to Candidate 2 ☆ Select help
Slide 8: Mobility
Q3 2026 Results Mobility blocket dba BILINFO Bilbasen # Nettbil bytbil > carwes AutoVex m Vend
Slide 9: AI at the core of product improvements as we introduce new value into the market
Q3 2026 Results | Mobility AI at the core of product improvements as we introduce new value into the market NEW VALUE IN PLATFORM AND PACKAGES BOOST CORE MONETISATION SCALING DEALER HUB TO SWEDEN FOLLOWING A SUCCESSFUL LAUNCH IN NORWAY Increased info on EVs +50% Messages on FINN Our unique data make
Slide 10: Strong ARPA in Norway; professional ARPA in Sweden back to double-digit growth
Q3 2026 Results | Mobility Strong ARPA in Norway; professional ARPA in Sweden back to double-digit growth ARPA NAA Q3 2026, YoY change % Q3 2026, YoY change % Professional Private Professional Private NOK 608¹ NOK 809¹ 155k¹ 105k¹ 17% YoY 10% YoY 4% YoY -1% YoY SEK 786³ SEK 300³ 220k³ 137k³ 12% YoY³
Slide 11: Revenues up 8%* YoY; EBITDA up 7% following cost actions
Q3 2026 Results | Mobility Revenues up 8%* YoY; EBITDA up 7% following cost actions Mobility Highlights Revenues (NOKm), EBITDA margin (%) • Classifieds revenues increased 3% YoY, or 8% in constant currency. Strong YoY growth growth in Norway (+16%), Sweden returned to growth in constant currency, a
Slide 12: Real Estate
Q3 2026 Results Real Estate ASA @Homea m Vend
Slide 13: New products and packages drive results for agents and sellers
Q3 2026 Results | Real Estate New products and packages drive results for agents and sellers PRODUCT & PACKAGE IMPROVEMENTS THAT BOOST LARGE PACKAGE EFFICIENCY FROM REACH TO PROOF AI REDECORATION AGENT PROMOTION — SELLER LEADS PRISTIPS — SELLER LEADS Shifting focus from clicks and views to high-valu
Slide 14: Strong ARPA growth in Norway
Q3 2026 Results | Real Estate Strong ARPA growth in Norway ARPA Volume Q3 2026, YoY change % Q3 2026, YoY change % Total Residential Total Residential for sale³ for sale NOK 4,020¹ NOK 6,083¹ 57k¹ 29k¹ 16% YoY 17% YoY -6% YoY -4% YoY EUR 4562 1,5404 1% QoQ -1% QoQ Norway - ARPA: Average Revenue Per
Slide 15: Revenues up 14%* YoY; EBITDA up 23%
Q3 2026 Results | Real Estate Revenues up 14%* YoY; EBITDA up 23% Real Estate Highlights Revenues (NOKm), EBITDA margin (%) • Classifieds revenues increased 12% YoY, driven by ARPA growth in residential for YoY growth 14% * sale in Norway • Total revenues in Finland increased 13% YoY (22% in constan
Slide 16: Jobs
Q3 2026 Results Jobs
Slide 17: Strong ARPA growth continues; volume decline easing
Q3 2026 Results | Jobs Strong ARPA growth continues; volume decline easing ARPA NAA Q3 2026, YoY change % Q3 2026, YoY change % Total Total NOK 9,122¹ 29k¹ 11% YoY –3% YoY ARPA: Average Revenue Per Ad NAA: New Approved Ads 1) Sourced ads not included 17
Slide 18: Revenues up 8% YoY on ARPA growth; EBITDA up 7%
Q3 2026 Results | Jobs Revenues up 8% YoY on ARPA growth; EBITDA up 7% Jobs Jobs Highlights Revenues (NOKm), EBITDA margin (%) • Revenues increased 8% YoY, as ARPA gains from discount model changes and YoY growth 8% upsell products offset the volume decline • OPEX excl. COGS increased 6%, driven by
Slide 19: Recommerce
Q3 2026 Results Recommerce blocket dba tori m Vend
Slide 20: GMV growth accelerated in Norway and Sweden
Q3 2026 Results | Recommerce GMV growth accelerated in Norway and Sweden Transacted GMV Take rate Q3 2026, YoY change % Q3 2026, YoY change pp Total Total NOK 727m 15% 28% YoY -0.7pp YoY SEK 231m 10% 17% YoY -0.1pp YoY EUR 21m 16% 33% YoY 0.0pp YoY DKK 62m 14% 52% YoY -0.1pp YoY GMV: Gross merchandi
Slide 21: Revenues up 16%* YoY on higher volumes; EBITDA down NOK 8m on growth investment
Q3 2026 Results | Recommerce Revenues up 16%* YoY on higher volumes; EBITDA down NOK 8m on growth investment Recommerce Highlights Revenues (NOKm), EBITDA margin (%) • Transactional revenues increased 19% YoY, driven by record transaction YoY growth volumes, up 31%, partly offset by shipping campaig
Slide 22: Finance
Q3 2026 Results o 3) = c = re m Vend
Slide 23: Q3 revenues up 6%* YoY and 11%* excl. Other/HQ; EBITDA up 11% YoY
Q3 2026 Results | Finance Q3 revenues up 6%* YoY and 11%* excl. Other/HQ; EBITDA up 11% YoY Vend Group revenues 1,641m Vend Group EBITDA 711m Q3 revenues per segment (NOKm) 6%* YoY Q3 EBITDA per segment (NOKm) 11% YoY YoY growth YoY growth 8%* 14%* 8%* 16%* -58%* 7% 23% 7% -23% 50% Mobility Real Est
Slide 24: OPEX excl. COGS down 6% YoY; FTEs down from Q2
Q3 2026 Results | Finance OPEX excl. COGS down 6% YoY; FTEs down 83 from Q2 Vend Highlights OPEX excl. COGS (NOKm) • Total OPEX excl. COGS decreased 6% YoY YoY growth ○ Personnel costs declined 2% YoY, following the reorganisation of around 70 FTEs effective July 6% ■ FTEs ended at 1,565, down 83 f
Slide 25: Adevinta valuation up NOK 3.9bn to NOK 11.1bn
Q3 2026 Results | Finance Adevinta valuation up NOK 3.9bn to NOK 11.1bn, driven mainly by removal of the peer discount Adevinta valuation Highlights Q3 2026, changes since Q2 2026 (NOKbn) • Carrying value of Vend’s 14% stake: NOK 11.1bn, up NOK 3.9bn vs Q2 2026 • Multiple expansion of NOK 4.0bn is t
Slide 26: Q3 income statement
Q3 2026 Results | Finance Q3 income statement Income statement Third quarter NOK million) 2026 2025 (restated) Operating revenues 1,641 1,595 Operating expenses 929 955 Gross operating profit (loss) - EBITDA 711 640 Depreciation and amortisation 139 149 Impairment loss - 4 Other expenses compr
Slide 27: Q3 cash flow from continuing operations
Q3 2026 Results | Finance Q3 cash flow from continuing operations Cash flow Third quarter NOK million) 2026 2025 (restated) Profit (loss) before taxes from continuing operations 4,469 635 Depreciation, amortisation and impairment losses (recognised or reversed) 152 153 Net interest expense (income
Slide 28: Robust balance sheet supports continued disciplined shareholder returns
Q3 2026 Results | Finance Robust balance sheet supports continued disciplined shareholder returns Financial gearing Highlights (NIBD/EBITDA according to bank definition) • Continued return of excess capital to shareholders through 2026 ○ First NOK 2bn tranche of NOK 4bn share buyback programme compl
Slide 29: Financial framework for sustainable value creation
Q3 2026 Results | Finance Financial framework for sustainable value creation Strategy Medium-term targets Capital allocation Accelerate Future Winners Mobility Revenue growth: 12-17%, • Any surplus cash post the below will be EBITDA margin: 55-60% returned to shareholders over time Simplify Revenue
Slide 30: Q&A
Q3 2026 Results | Q&A Q&A 27 October 2026 Christian Printzell Halvorsen, CEO Per Christian Mørland, CFO
Slide 31: Appendices
Q3 2026 Results | Appendices Appendices Spreadsheet containing detailed Q3 2026 and historical information can be downloaded at vend.com/ir 31
Slide 32: Historical ARPA trends per vertical
Q3 2026 Results | KPIs Historical ARPA trends per vertical ARPA Vertical Country Category Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Mobility¹ Norway Professional NOK 428 NOK 434 NOK 461 NOK 497 NOK 518 NOK 540 NOK 586 NOK 592 NOK 608 Norway Private NOK 653 NOK 698 NOK 704 NOK 715 NOK 734
Slide 33: Historical listing trends per vertical
Q3 2026 Results | KPIs Historical listing trends per vertical NAA Vertical Country Category Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Mobility¹ Norway Professional 158k 162k 156k 152k 148k 154k 159k 159k 155k Norway Private 106k 62k 67k 116k 106k 67k 64k 113k 105k Sweden Professional 242
Slide 34: Historical Recommerce KPIs
Q3 2026 Results | KPIs Historical Recommerce KPIs Transactional KPIs Vertical Country Category Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Recommerce Norway Transacted GMV¹ NOK 481m NOK 540m NOK 531m NOK 549m NOK 569m NOK 620m NOK 634m NOK 644m NOK 727m Norway Take rate² 16% 16% 16% 15% 16
Slide 35: Shareholders analysis
Q3 2026 Results | Shareholders Shareholders analysis Rank Name Shares % ISC 1 Blommenholm Industrier AS 43 167 130 20.5% 2 Folketrygdfondet 18 058 885 8.6% 3 DNB Asset Management AS 10 793 715 5.1% 4 ODIN Forvaltning AS 8 961 232 4.2% 5 Storebrand Asset Management AS 5 648 977 2.7% 6 KLP Kapitalforv
Slide 36: Investor contact
Q3 2026 Results | Investor contact Investor contact Visit our website: vend.com Email: ir@vend.com Malin Ebenfelt IR Manager +47 916 86 710 Jann-Boje Meinecke SVP FP&A and IR Vend Marketplaces ASA Visiting address: Grensen 5-7, 0159 Oslo, Norway Postal address: P.O. Box 747 Sentrum, 0106 Oslo, Norwa