Slide 1: Verisure Q3 2025 Results Presentation
Verisure Q3 2025 Results Presentation 26th November 2025
Slide 2: Strong Q3 operating and financial performance
• Strong Q3 operating and financial performance – New installations +214k, +5.2% y/y – ARR €3,292m, +10.2% y/y – Adjusted EBIT €250m, +17.1% y/y – Adjusted EBIT margin 26.8% +165 bps y/y • Acquisition in Mexico completed end October – ~125k high-quality customers added – Largest customer portfolio i
Slide 3: Customer Portfolio, Revenue, Adjusted EBIT key metrics
Customer Portfolio Group Revenue Adjusted EBIT +8.0% y/y +9.9% y/y cc +17.1% y/y cc New Installations Annual Recurring Revenue (ARR) Adjusted EBIT Margin +10.2% y/y cc +165 bps y/y cc +5.2% y/y Source: Company information. 3
Slide 4: +439k Customer Growth; Q3 Attrition at 7.1%
+439k Customer Growth vs. Prior Year Q3 Attrition at 7.1% (7.4% LTM) Customer Portfolio (‘000) Attrition Rate (%) +8.0% 5,940 5,831 Verisure attrition corridor 5,722 8% 5,612 7.4 7.1 5,502 6% Q3 Q4 Q1 Q2 Q3 2024 2024 2025 2025 2025 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q/Q
Slide 5: Financial Review
Financial Review e verisure
Slide 6: Financial Headlines (€m)
Financial Headlines (€m) Quarterly YTD Q3 2024 Q3 2025 y/y y/y @ cc Q3 2024 Q3 2025 y/y y/y @ cc Revenue 854 933 +9.2% +9.9% 2,538 2,781 +9.6% +10.2% ARR1 3,003 3,292 +9.6% +10.2% 3,015 3,321 +10.1% +10.7% Adjusted EBITDA 396 443 +11.6% +11.6% 1,152 1,287 +11.7% +11.7% Adjusted EBIT 213 250 +17.7% +
Slide 7: New Installations, CPA and Acquisition Multiple
New Installations (‘000) Cost per Acquisition (CPA) (€) Acquisition Multiple (x) +5.2% +6.2% @ constant currency @ constant currency 0.00x +0.03x +3.2% 3.60x 3.60x 3.54x 3.57x 628 649 +3.6% +4.7% 1,434 1,486 1,476 1,410 +5.2% 204 214 Q3 Q3 9M 9M Q3 Q3 9M 9M Q3 Q3 9M 9M 2024 2025 2024 2025 2024 2025
Slide 8: ARPU, RMC and EPC
ARPU (€) RMC (€) EPC (€) +2.1% +2.5% (3.8%) (2.2%) +4.2% +4.2% @ constant currency @ constant currency @ constant currency @ constant currency @ constant currency @ constant currency +1.5% +2.0% 45.5 46.2 45.7 46.6 +3.7% +3.7% 33.2 34.4 33.2 34.4 (4.3%) (2.6%) 12.3 11.8 12.5 12.2 Q3 Q3 9M 9M Q3 Q3 9
Slide 9: Net Cash Flow before Δ in Borrowings and Expected Evolution
Net Cash Flow before Δ in Borrowings (€m) Expected Evolution LTM Cash Conversion 60% 62% 64% 68% 68% 68% 69% 69% (Excl. Change in NWC)1 • Cash flow inflection point following IPO: (7) – Declining Portfolio Reinvestment Rate2 generates incremental cash (29) (27) (32) – Working capital normalization (
Slide 10: Consistent Deleveraging Post-IPO
Consistent Deleveraging Post-IPO Leverage and Finance Charges Total Net Leverage1 (x) Post-IPO Capital Structure Total Net 4.7x ~3.0x 6.4x Leverage1 (x) 6.2x 7.8 5.9x ~3.0x 5.7x pro forma 5.5x IPO 5.4x ~5.0 5.2x Net Financial 5.0x 4.9x 4.9x Debt (€bn) 4.8x 4.7x Pre-IPO Pro Forma IPO (Q3 2025) (Q3 20
Slide 11: 2025E & Mid-Term Targets
2025E & Mid-Term Targets1 2024 2025E Mid-Term Targets ARRARR €3,068m above 12% y/y growth ~10% growth 11.7% y/y growth (>10% organic | ~2% Mexico) per annum TotalTotal €3,408m Up to 100 bps Revenue ~10% y/y growth2,3 Revenue 10.3% y/y growth below ARR growth Adjusted Adjusted €819m Progressive margi
Slide 12: Strategy Review
Strategy Review verisure
Slide 13: Culture & Talent
Culture & Talent Source: Company information. 13
Slide 14: LockGuard
LockGuardTM Connected, monitored electronic lock >20% ~175k Attach rate to new Installed to-date sales in Spain Early signs of lowering attrition Source: Company information. 14
Slide 15: GuardVision
GuardVisionTM AI-enabled outdoor detection camera >15% 4 Attach rate to new Country launches sales in France Product designed in response to our #1 customer request Source: Company information. 15
Slide 16: Further improving verification accuracy with AI
Further improving verification accuracy • Computer Vision AI technology in cameras & detectors • Driving even better identification of “false positives” Lowering Cost • AI-backed knowledge tools – shorter call durations and better resolution • Speech Analytics tools auto-transcribing call notes Incr
Slide 17: Strong Q3 performance and confident on outlook
• Strong Q3 operating and financial performance • Confident on outlook for FY25 – ARR growth above 12% (above 10% organic, ~2% Mexico) – Adjusted EBIT €940-950m • On track to deliver Mid-Term guidance – ARR growth ~10% – Progressive EBIT margin expansion to 30% long term Source: Company information.
Slide 18: Thank you!
Thank you! 18
Slide 19: Appendix
Appendix @ verisure
Slide 20: Pricing, Innovation, Upselling: ARPU and RMC
Average Revenue per User (ARPU) | Recurring Monthly Cost (RMC) (€) Portfolio Profitability Metrics, Excluding Initial Customer Acquisition Costs 47.5 ARPU Pricing 45.0 42.5 2004 ARPU 40.0 + inflation 37.5 35.0 Innovation 32.5 Continuous EBITDA per 30.0 Customer 27.5 (EPC) margin 25.0 expansion 22.5
Slide 21: Quarterly and YTD Summary P&L (€m)
Quarterly Summary P&L (€m) YTD Summary P&L (€m) Q3 2024 Q3 2025 Q3 2024 Q3 2025 Revenue 854 933 Revenue 2,538 2,781 Adjusted EBITDA 396 443 Adjusted EBITDA 1,152 1,287 D&A and Asset Retirements1 (184) (193) D&A and Asset Retirements1 (529) (570) Adjusted EBIT 213 250 Adjusted EBIT 623 717 SDIs – EBI
Slide 22: Assets and Equity and Liabilities (€m)
Assets (€m) Equity and Liabilities (€m) Q3 2024 Q3 2025 Q3 2024 Q3 2025 Property, Plant and Equipment 1,533 1,649 Share Capital & Other Paid in Capital 7,160 7,154 Right of Use Assets 177 203 Reserves (369) (332) Goodwill 7,595 7,619 Retained Earnings (834) (1,017) Customer Portfolio Total Equity 5,
Slide 23: Quarterly and YTD Summary Cash Flow (€m)
Quarterly Summary Cash Flow (€m) YTD Summary Cash Flow (€m) Q3 2024 Q3 2025 Q3 2024 Q3 2025 CF from Operating Activities Before Δ in WC 373 379 CF from Operating Activities Before Δ in WC 1,085 1,151 CF from Δ in WC (36) (20) CF from Δ in WC (77) (161) CF from Operating Activities 337 358 CF from Op
Slide 24: This presentation does not constitute or form part of, and should not be construed
This presentation does not constitute or form part of, and should not be construed as, an offer to sell or issue, or the solicitation of an offer to purchase, subscribe to or acquire our securities, or an inducement to enter into investment activity in any jurisdiction in which such offer, solicitat