Tieto Corporation · OMXHEX:TIETO
Tieto — TietoEVRY — Q3 2025 Earnings Presentation
20 slides from Tieto's earnings presentation, Oct 23, 2025
Slide 1: Early signs of margin recovery with transformation execution ongoing
ws tietoeucy Early signs of margin recovery with transformation execution ongoing Ger: Ps Ne *€ndre Rangnes, President and CEO * , Tomi Hyryldinen, CFO
Slide 2: Our company
, 7 Our cu a i” Born in the Nordi¢se- Tietoevry Tietoevry ; Create Banking Trusted everyw, mp , = 15 000 experts around the world combining deep industry know-how with cutting-edge tech Tietoevry Tietoevry to accelerate customers’ business. ° Care Industry "=< 4, tietoeuny
Slide 3: Q3 highlights: organic growth 4%, adjusted operating margin 19.3%
Organic growth 4%, or -1% eliminating the revenue related to a court ruling in Tietoevry Banking Tietoevry Care and Industry back to growth fh Adjusted operating margin 19.3% (12.8%), or 15.2% eliminating the court ruling effect in aan Tietoevry Banking Improved profitability ~ in all businesses Cos
Slide 4: Progressing with actions to get back on track
Progressing with actions to get back on track #, tietoevry Customer first Restore growth Competitive cost base Sales focus programme to reinforce customer trust, incl. * New sales governance model * Harmonization of CRM systems * Targeted sales training * Rejuvenation of the salesforce Al boost prog
Slide 5: Tietoevry Group Q3 key figures
Tietoevry Group Q3 key figures Revenue, EUR million 404 Net debt/EBITDA 2.4 11) Adjusted for currency effects, acquisitions and divestments 2) Adjustment items include restructuring costs, capital gains/losses, impairment charges and other items affecting comparability 3) Continuing and discontinued
Slide 6: Business units
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Slide 7: Tietoevry Create
Tietoevry Create Organic growth fe) Cost optimization resulting in profitability improvement -3% 4%) * Growth impacted by challenging market conditions across geographies fiaen (191) * Profitability improvement driven by delivery capacity management and SG&A reductions — partly offset by salary Adj.
Slide 8: Tietoevry Banking
Tietoevry Banking Organic growth 1 4 % Improved profitability {e) . (4%) * Revenue includes EUR 22 million related to a customer dispute court ruling — underlying revenue growth -2% and margin 16.1% (13.3%) oe (138) . oo . . . * Expired margin-dilutive contract having a negative revenue impact (-2 p
Slide 9: Tietoevry Care
Tietoevry Care Organic growth Profitability remained strong ? % ¢ Healthy growth particularly in Finland ie) * InFinland, 16/21 wellbeing services counties won — full growth (3%) contribution starting in 2027 €55m (53) ¢ Four won customer contracts waiting for market court decisions Adi EBITA impact
Slide 10: Tietoevry Industry
Tietoevry Industry Organic growth oO 3% (1%) €64m (62) Adj. EBITA 19.4% (16.3%) €12m (10) SpareBank @ Unified platform for procurement and invoice management to SpareBank 1 Utvikling 4; tietoevy Improved performance — strong order backlog ¢ Healthy growth across all business units, except Pulp, Pape
Slide 11: Financials
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Slide 12: Q3 profitability improved — Tech Services divestment closed
Q3 profitability improved — Tech Services divestment closed * Organic growth of 4% (-1% excl. Court ruling in Banking) * Court ruling resulted in positive revenue contribution of €22m related to prior periods * Impact from the court ruling for Q3’25 deliveries was €2m Adj. EBITA 19.3% (15.2% excl. C
Slide 13: Run rate savings of €75m executed — on track to achieve €115m
Run rate savings of €75m executed — on track to achieve €115m by end of 2026 * Cost optimization aiming for €115m run rate €115m cost optimization programme savings by end of 2026, with €75m 25-30 "5 executed by end of Q3’25 a ¢* Q3 result supported by approximately €15m 85-90 _ in savings * Total o
Slide 14: Key financial profile changes post Tech Services divestment
Key financial profile changes post Tech Services divestment Profitability has been impacted by IFRS5 cost burden CAPEX shifting from tangible to intangible assets — to be offset by TSA income from Q4'25 onwards (CAPEX in €m) 19.3% 66 12.4% (~3% of revenue) q 4 10.6% 9 9.4% 29 (~3% of revenue) 7H A —
Slide 15: Cash flow from operations €45m — Tech Services divestment impacting free cash flow
Cash flow from operations €45m — Tech Services divestment impacting free cash flow * Cash flow from operations! €45m (58) * Net working capital increase of €52m (20), driven mainly by seasonal decrease in vacation accruals * Free cash flow? of €217m (26) impacted by net cash flow on disposal of €201
Slide 16: Cost measures visible in reduced personnel across all businesses
Cost measures visible in reduced personnel across all businesses + LTMattrition at 7.5%, reflecting continued soft market environment Attrition 8.2 79 79 8.0 75 % last twelve ar soe : months * Cost optimization ongoing in all businesses — net (voluntary) Q3 24 Q424 Q125 Q2 25 Q3 25 reduction of ca.
Slide 17: Outlook remarks — Q4'25
Outlook remarks — Q4’25 Growth Tietoevry Create: Impacted by continued weak demand across all markets Tietoevry Banking: Impacted by ending of a significant margin-dilutive mainframe contract — negative ~5 pp. Tietoevry Care: Headwind from declining legacy product business in Norway and Sweden (nega
Slide 18: Q4 profitability outlook
\ ¥, O04 profitability outlook Business adj EBITA % Profitability outlook Tietoevry Create 11.2% At or above Q4'24 level Tietoevry Banking 14.6% Above 04'24 level Tietoevry Care 32.1% At or below 04'24 level Tietoevry Industry 12.1% Above 04'24 level
Slide 19: Closing
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Slide 20: Capital Markets Day on 25 Nov 2025
Tietoevry rstrong Capital Markets Day onand focusing uU we aim for on 25 Nov 2025 in London