Slide 1: Q2 2026 – Leading mobile & circular technology company
Q2 2026 August 20th 2026 Leading mobile & circular technology company
Slide 2: The presenters today
The presenters today: Morten Meier – Chief Executive Officer Mr. Meier is a seasoned senior executive with more than 25 years of experience from the software and technology industry, including leadership, strategy, business development, sales, marketing and operations. He has a proven track record o
Slide 3: Techstep at a glance
Techstep at a glance We make mobile technology work for you CONSULTANCY 190 EMPLOYEES IN 4 COUNTRIES SOFTWARE HARDWARE END-TO-END SOLUTIONS 2,000+ CUSTOMERS in enterprise and public sector. 80+ PARTNERSHIPS with leading tech companies, resellers, GARTNER MARKET GUIDE telecom providers, and IT expert
Slide 4: Financials Q2 2026
Financials Q2 2026 techStep
Slide 5: Q2 2026 overview
Q2 2026 overview 1 Revenues NGP margin NOK 228.8m NOK 52m / 23% +12% y/y -11pps y/y EBITA adjusted ARR adjusted 2 NOK -12.9m NOK 244.0m -13.3m +1% y/y 1 All numbers compared to proforma historical figures excluding divested business 2 ARR is adjusted for the termination of the contract on legacy Tel
Slide 6: EBITA impacted by discontinued Telecom Expense solution and delayed rollouts in Health sector
EBITA impacted by discontinued Telecom Expense solution and delayed rollouts in Health sector Quarter NGP impacted by lower margins, partly due to delayed Q2 2025 Q2 y/y Health sector rollout (Amounts in NOK 1 000) Q2 2026 H1 2026 H1 2025 Proforma • Total revenues 12% above Q2 25 lifted by higher De
Slide 7: NGP LTM, following the divestment
NGP LTM, following the divestment Net gross profit LTM 1) Proforma basis, NOK million Net gross profit LTM for Q2 at NOK ~235m • The 11% decline is resulting from the lower NGP for Q2 and Q1 in 2026 • The shortfall of NGP of is largely due to the terminated Telecom Expense solution and delayed rollo
Slide 8: Techstep Improvement programme – annualised NOK 218m target
Techstep Improvement programme – annualised NOK 218m target NOK million • Key competence protected and maintained • New cost savings targets introduced - comparing to baseline May 2026 • New annualised costbase of NOK 218m covering P&L personel and Other operating cost • External consultants replace
Slide 9: Growth in Recurring revenues when excl terminated contract related to legacy Telecom Expense solution
Growth in Recurring revenues when excl terminated contract related to legacy Telecom Expense solution Recurring revenue annualized (ARR) 1 Proforma basis, NOK million Actual ARR of NOK 244m for Q2 2026 • ARR increased by +1% y/y • ARR from Devices remains flat q/q • Underlying decline in Own Softwar
Slide 10: Cash flow pressured by weaker earnings and working capital movements
Cash flow pressured by weaker earnings and working capital movements Operating cash flow after investments in DaaS of NOK 11.1m (Amounts in NOK 1000) Q2 2026 Q2 2025 H1 2026 H1 2025 • Weaker EBITDA adjusted in the period EBITDA adj. 9,832 33,126 22,406 64,136 • Negative working capital development r
Slide 11: Balance sheet
Balance sheet (Amounts in NOK 1000) Q2 2026 Q2 2025 2025 • Non-current assets Non-current assets 594,147 796,610 614,606 • Non-current assets include goodwill of NOK 485m Assets related to DaaS 137,189 162,013 154,640 • Customer relations and technology of NOK 88m Total non-current assets 731,336 95
Slide 12: Rights Issue planned for completion in Sept/Oct 2026
Rights Issue planned for completion in Sept/Oct 2026 • During Q2 Techstep faced detoriating fundamentals resulting from delays and additional cost from integrations, even though long-term potential remains strong • A NOK 40m bridge facility secured untill the equity raise • A Rights issue underwritt
Slide 13: Rights issue – main steps and timeline
Rights issue – main steps and timeline Indicative milestones | August–October 2026 PREPARE REVIEW & APPROVE SUBSCRIBE SETTLE MEDIO–ULTIMO AUG ULTIMO AUG–ULTIMO SEP ULTIMO SEP–MEDIO OCT MEDIO–ULTIMO OCT ULTIMO SEP–MEDIO 20 AUG ULTIMO AUG PRIMO SEP ULTIMO SEP MEDIO OCT ULTIMO OCT OCT Publish H1 / Q2 S
Slide 14: Business update, strategy and execution
Business update, strategy and execution
Slide 15: Q2 execution lowers cost and builds scalability
Q2 execution lowers cost and builds scalability Three execution moves—supported by measurable operating-leverage targets FOCUS Sharpen market position FTE development 260 • Sweden repositioning underway 190 • Scale software- and services-led growth in 160 # FTE’s Europe COST Reset the structural cos
Slide 16: Three priorities to strengthen profitability and cash generation
Three priorities to strengthen profitability and cash generation TECHSTEP IMPROVEMENT PROGRAMME PRIORITY 1 PRIORITY 2 PRIORITY 3 Expand margins Profitable growth Structural cost reduction • Centralise and simplify • Increase software & services mix • Focus on priority customers and operations • Upse
Slide 17: Indirect GP share targeted at ~40% by 2029
Indirect GP share targeted at ~40% by 2029 Up from 15% in 2025; direct remains larger and both channels grow. DIRECT Nordic innovation + margin engine GROSS PROFIT MIX Directional CUSTOMERS Deepen enterprise relationships MIX Raise software & services mix 40% OUTCOME Grow recurring gross profit Indi
Slide 18: Commercial highlights Q2
Commercial highlights Q2 Q2 results were below expectations; demand, market potential and Techstep’s position have strengthened. Key wins — with conversion still to prove Q2 performance was not satisfactory. Commercial proof points are encouraging, but conversion must accelerate. Healthcare — Helse
Slide 19: Summary – A leaner platform, execution is now the priority
Summary A leaner platform — execution is now the priority We are on a mission to • Completed divestment, Group-wide ERP rollout and initial become: organisational right-sizing The Leading • Repositioning Sweden around scalable, differentiated software and services • Q2 profitability was below expect
Slide 20: Disclaimer
Disclaimer This presentation (the “Presentation”) has been prepared by Techstep ASA (“Techstep” or the “Company” and together with its subsidiaries the "Techstep Group"). The Presentation has been prepared and is delivered for information purposes only. It has not been reviewed or registered with or
Slide 21: We make mobile technology work for you
We make mobile technology work for you