Slide 1: Financial Statements Release 2022
GOFORE PLC 1- 12/2022 Financial Statements Release 2022 A record year for Gofore — net sales growth 43%, adjusted EBITA +50% 17 February 2023 Unaudited o> GOFORE
Slide 2: Presenters: CFO and CEO
GOFORE Teppo Talvinko CFO Mikael Nylund CEO
Slide 3: Gofore is a growing and profitable digital consultancy
Gofore is a growing and profitable digital 2022 NET SALES H2/2022 NET SALES cons 149.9. 77.4 consultancy MEUR MEUR (52.8 MEUR in H2/2021) @ (104.5 MEUR in 2021) @ 2022 EBITA %, ADJUSTED H2/2022 EBITA %, ADJUSTED 14.7% 14.6% (14.0 in 2021) (14.6 in H2/2021) GOFORE 5
Slide 4: Strategy Update Highlights
STRATEGY UPDATE HIGHLIGHTS Growing & profitable Net sales growth —__________._ CAGR 2018 - 2022: 31% r) a @ @® @@®@® emundo Devecto 499 606 Stuer Planet Q Oentine! mangodesign 104.5 leadin on 6 34.0 €m 6.0 92 12.4 18.6 | ——— — — Zz 2013 2014 2015 2016 2017 218 =| 2019 2020 2021 2022 LTM pro forma 2)
Slide 5: Full-year 2022 Highlights
Full-year 2022 Highlights A record year for Gofore — Net sales +43%, adjusted EBITA +50% Net sales grew by 43% and was 149.9 (104.5) million euros. Organic net sales growth, 32%, was very strong. Profitability was strengthened from comparison period and was 14.7% (14.0%). Number of employees grew by
Slide 6: Customer pricing and salaries in good balance under inflation pressures
FY 2022 Customer pricing and salaries in good balance under inflation pressures * Operatively good year shows that Gofore’s business scales well. Customer demand Average salary was ona very good level and typical growth bottleneck, recruitment, worked very change 2022 * Most important indicators of
Slide 7: Customer size and satisfaction on the rise
LARGE CUSTOMERS STRATEGY Customer size and satisfaction on the rise Customer size grew significantly in 2022 Deepening relationships, returning customers’ share of net sales 82% Large projects with growing impact Excellent customer satisfaction; NPS 43 (benchmark 37) and overall satisfaction with Go
Slide 8: Highlights from the market
HIGHLIGHTS FROM THE MARKET. Digital Society: LahiTapiola See more Intelligent Industry: Metso Outotec LahiTapiola and Metso Outotec customer cases featured in the report Great examples of long customer attachment at relationships on both strategic sectors in the report attachment. https://gofore.com
Slide 9: People Development
PEOPLE DEVELOPMENT Human-centric culture brought results Recruitment growth Strong employer brand and investment into work satisfaction sped 16% up growth in 2022 * Gofore’s number of employees grew by 52% to 1,297 people * Record successful recruiting; 377 people recruited during the year 214 + Emp
Slide 10: Financials
GOFORE
Slide 11: Net sales
149.9 104.5 77.4 52.8 2021 2022 H2/2021 H2/2022
Slide 12: Net Sales Distribution
FY 2022 Net Sales Distribution Geographically By Customer Size 30% By Sector Share of Subcontracting 20% 70% = Finland Abroad mTop 5 m= Other 80% m™ Subcontracting = Crew m Private = Public 12
Slide 13: Adjusted EBITA
22.0 • 14.6 • 10.8 11.3 7.7 • • 2020 2021 2022 H2/2021 H2/2022
Slide 14: Quarterly Performance & January 2023
Quarterly Performance & January 2023 EUR thousand intestine iantereciied Q4/2022 Q3/2022 Q2/2022 1/2022 Q4/2021 Q3/2021 Q2/2021 1/2021 Net sales 45,686 Bir? 37,120 «35398 «31,203 ~~=«2627 «26,446 «25,282 Change in Net sales, % 46% 47% 40% 40% 29% 33% 43% 34% Adjusted EBITA 7,521 3,743 5,613 5,109 4,
Slide 15: Financing
FY 2022 Financing EUR thousand, unless stated otherwise 31 December 2022 Cash and cash equivalents Interest-bearing net debt Equity ratio Net gearing 444 -23.6 54% -29.5% Solid financial situation + Strong cash position Solid balance sheet » Negative debt position * High equity ratio » Enables adequ
Slide 16: Strategy
GOFORE 16
Slide 17: Outperforming targets set in 2020
G STRATEGY UPDATE Outperforming targets set in 2020 KEY GROWTH LEVERS QO crowth in Finland @ international growth © Disciplined M&A ° ~1N® Growing portfolio Increasing presence 2020 targets 20% 10% of large customers in outside Finland, reaching >10% total annual growth annual organic growth and out
Slide 18: Updated long-term financial targets
TARGETING Updated long-term financial targets Gofore’s organic growth has been exceeding both the IT services market overall as well as the company’s own targets. 25% minimum annual growth in net sales. At least 15% organic annual growth LO 40% adjusted EBITA Dividends at least of annual net profit
Slide 19: Three avenues to growth
STRATEGY UPDATE Three avenues to growth Continue successful add-ons to renew offering and customer portfolio ) J Renew by M & A Increase share of wallet & build on local presence in DACH / Leverage leading position in Finnish market Build on Challenge in Digital Intelligent Society Industry success
Slide 20: Proven track record of value-creative M&A
MERGERS & ACQUISITIONS Proven track record of value-creative M&A MBA Track 2017-2022 Net Sales Growth 2022 @ 2022 DEVECTO [fh gapped © MANGO SOLINOR DESIGN 2017 2018 SILVER PLANET QENTINEL Cea FINLAND
Slide 21: Digital transformation's outlook strong in the mid and long term
2023 Digital transformation’s outlook strong in the mid and long term Public sector digitalisation continues Gofore expects digitalisation investments in the Finnish public sector to continue due to continuing digitalisation and the structural reform. Election spring may temporarily slow down demand
Slide 22: Outlook: Public sector digitalisation continues
OUTLOOK Public sector digitalisation continues Gofore expects digitalisation investments in the Finnish public sector to continue, due to continuing digitalisation and the structural reform. Election spring may temporarily slow down demand. Momentum with big projects will carry on from strong 2022 i
Slide 23: Outlook: Private investments cycle dependent
OUTLOOK G Private investments cycle dependent New and more digital * Private sector demand mostly affected by marco-economic cycles products have been a clear - Risk of short-term impact bigger than for public sector priority, although economic * Outlook of customers is still quite good and customer
Slide 24: Outlook: Talent market challenging
OUTLOOK Talent market challenging but may be alleviated in the short term Competition for the best talent will continue in the IT industry, but Gofore may benefit from a slowdown on other sectors than IT services. Gofore mitigates the risk of wage inflation with its own salary agreement. ° Short-ter
Slide 25: Short-term risks and uncertainties in the operating environment
2023 Short-term risks and uncertainties in the operating environment @@@ © © mevumrisk Macro-economical situation Economical uncertainty has been significant in 2023. Uncertainty of the economy and economic growth is seen in investments. Inflation and a changed interest situation affect the operatin
Slide 26: We create significant shareholder value
= SHAREHOLDER VALUE G We create significant shareholder value Cumulative total shareholder return over time. GOFORE RETURN SINCE 2020 Total Per Annum +217% +47% +31% +9% Peer median” +23% +7% ~~ OMX Helsinki?) Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Jul-21 Oct-21 Jan-22 Apr-22 Jul-22 Oct-22 Jan-23
Slide 27: Continuously improving earnings and dividends
SHAREHOLDER VALUE Continuously improving earnings and dividends Earnings per share and dividend payout ratio 0.78 Dividend schedule, estimate een nnnn nanny AGM date 24 March 2023 Ex-dividend date 27 March Record date 28 March 2018 2019 2020 2021 2022 Payment date 4 April Dividend per share ‘iEarnin
Slide 28: Disclosure and Guidance
GOFORE 2023 Disclosure and Guidance As of February 2022, Gofore has not provided forecasts about the revenue or profit for the financial year. Before, Gofore may have presented an estimate of the company’s revenue or performance guidance in the financial statement release or half-year report. Gofore
Slide 29: Upcoming financial reporting
Pioneering an ethical digital worl Upcoming financial reporting + Gofore’s Annual Report 2022 is published on 2 March 2023 + The full Financial Statements are available in the Gofore headquarters at Kalevantie 2, 33100 Tampere, Finland * Q1 Interim Report on 25 April 2023 + Monthly Business Reviews