INVESTOR PRESENTATION
Q1 2026 Results
May 2026
1
Today's presenters
Claus Rydkjær
President & CEO
Carsten Ringius
Executive Vice President & CFO
MAY 2026 | NNIT | Q1 2026 RESULTS | INVESTOR PRESENTATION2
Agenda
Key business highlights
Regional performance, group financials & outlook
Closing remarks and Q&A
FORWARD-LOOKING STATEMENTS
This presentation contains forward-looking statements, which include estimates of financial performance and targets. These statements are not guarantees of future performance and involve certain risks and uncertainties. Therefore, actual future results and trends may differ materially from what is forecast in this report due to a variety of factors.
MAY 2026 | NNIT | Q1 2026 RESULTS | INVESTOR PRESENTATION3
01 | KEY BUSINESS HIGHLIGHTS
The first days at NNIT
Highlights
Meeting an engaged and professional organization
Launching initiatives to restore growth and support profitability
Assessing the operating model and NNIT's
value proposition
Priorities on the CEO agenda
Regain the path to profitable growth
Sharpen the strategic focus and service/product portfolio of NNIT
Strengthen the go-to-market approach
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MAY 2026 NNIT | Q1 2026 RESULTS | INVESTOR PRESENTATION 4
01 | KEY BUSINESS HIGHLIGHTS
Challenging start to the year
Revenue
DKKm
Q1 2026 KEY FIGURES
Constant currency
%
422.5(-9.0% growth vs LY)
-7.3%(-0.8% Q1 25)
Group EBIT
excl. special items, DKKm
1.1(DKK 18.0m Q1 25)
Group EBIT margin
excl. special items, %
0.3%(3.9% Q1 25)
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MAY 2026 NNIT | Q1 2026 RESULTS | INVESTOR PRESENTATION 5
01 | KEY BUSINESS HIGHLIGHTS
Financial outlook updated on 7 May
CONSTANT CURRENCY REVENUE GROWTH
GROUP EBIT MARGIN EXCL. SPECIAL ITEMS
SPECIAL ITEMS
Single-digit negative
(previously 0-5%)
4% to 7%
(previously 6-9%)
Below last year's level of
DKK 83m
(previously "Significantly below last year's level of DKK 83m")
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MAY 2026 NNIT | Q1 2026 RESULTS | INVESTOR PRESENTATION 6
01 | KEY BUSINESS HIGHLIGHTS
Maintained a laser focus on operational improvements
Strong building blocks to leverage
Go-live of two
AI platforms, shifting focus to scale
Operational metrics improving as planned
Next step to restore profitable growth
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MAY 2026 NNIT | Q1 2026 RESULTS | INVESTOR PRESENTATION 7
Agenda
Key business highlights
REGIONAL PERFORMANCE, GROUP FINANCIALS &
OUTLOOK
Closing remarks and Q&A
MAY 2026 | NNIT | Q1 2026 RESULTS | INVESTOR PRESENTATION8
01 | KEY BUSINESS HIGHLIGHTS
Life science regions affected by industry slowdown
REGION EUROPE
REGION US
REGION ASIA
Q1 2026
Constant currency growth Regional EBIT margin
Q1 2026
Constant currency growth Regional EBIT margin
Q1 2026
Constant currency growth Regional EBIT margin
-15.3%
(-4.3% Q1 25)
11.9%
(13.8% Q1 25)
-15.8%
(-9.5% Q1 25)
2.9%
(30.4% Q1 25)
-7.8%
(12.6% Q1 25)
2.8%
(7.6% Q1 25)
Continued customer hesitation impacting revenue generation and leading to lower order entry
AI solution offering starting to gain traction
Profit and margin decreasing due to material decline in revenue which was partly offset by cost reductions
Revenue decline impacted by the unexpected slowdown that occurred in Q4 last year affecting the backlog Q1 26
Focus on being on the forefront with NDC-12 progressing to the phase 2
Regional EBIT margin was moderate due to lower revenue and the composition of revenue
Constant currency growth contracting mainly due to a material decline from an existing large tier-1 customers
Customer base expanding with more local biotech companies
Regional EBIT margin decline vs last year due to revenue shortfall, partly offset by cost savings and operational efficiency gains
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MAY 2026 NNIT | Q1 2026 RESULTS | INVESTOR PRESENTATION 9
01 | KEY BUSINESS HIGHLIGHTS
Solid momentum inPUBLIC DK
Q1 2026
Constant currency growth Regional EBIT margin
SCALES
Q1 2026
Constant currency growth Regional EBIT margin
4.8%
(-5.0% Q1 25)
7.3%
(3.1% Q1 25)
10.8%
(29.1% Q1 25)
23.5%
(23.7% Q1 25)
Public DK and SCALESSolid growth positively impacted by ramping up on projects signed during 2025
Order entry development impacted by the Danish general election
Regional EBIT increase driven by uplift in
operational efficiency and cost reductions
Growth momentum continued in Q1 26
Completion of the integration of the former Microsoft service offering team from the former Region DK to leverage synergies
Solid regional EBIT margin in line with last
year
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MAY 2026 NNIT | Q1 2026 RESULTS | INVESTOR PRESENTATION 10
02 | GROUP FINANCIALS & OUTLOOK
Financial results were below initial expectations
Q1 2026 FINANCIAL HIGHLIGHTS, DKKm & %
KEY FINANCIALS, DKKm
Q1 2026
Q1 2025
FY 2025
Revenue
422.5
464.1
1,787.6
Regional EBIT
46.8
74.4
292.1
Group EBIT excl. special items
1.1
18.0
94.2
Special items
8.3
25.3
83.3
Free cash flow
41
-73
-47
FINANCIAL RATIOS
Q1 2026
Q1 2025
FY 2025
Reported revenue growth, %
-9.0%
0.2%
-3.4%
Constant currency growth, %
-7.3%
-0.8%
-2.8%
Regional EBIT margin, %
11.1%
16.0%
16.3%
Group EBIT margin excl. special items, %
0.3%
3.9%
5.3%
HIGHLIGHTS
Revenue and Constant currency growth dampened by a lower-than-usual backlog and modest order entry
Continued tier-1 customer hesitation impacting Life Science regions
Group EBIT excl. special items negatively impacted by the lower revenue generation than expected
Cost savings materializing as planned including further capacity adjustments made
Special items fully consist of restructuring costs
Free cash flow materially improving mainly due lower cost base, improvement in DSO and completion of earn-out payments
MAY 2026 | NNIT | Q1 2026 RESULTS | INVESTOR PRESENTATION 1102 | GROUP FINANCIALS & OUTLOOK
Financial outlook updated on 7 May
FINANCIAL OUTLOOK 2026 KEY DRIVERS & ASSUMPTIONS BEHIND THE ADJUSTED OUTLOOK 2026
Single-digit negative
(previously 0-5%)
CONSTANT CURRENCY REVENUE GROWTH
Constant currency revenue growth adjusted due to lower order entry in Q1 2026 than expected impacting the revenue generation for the rest of the year
Initiatives are being launched to regain growth momentum with impact expected in the
second half of the year
Below last year's level of DKK 83m
(previously Significantly below last year's level of DKK 83m)
SPECIAL ITEMS
4% to 7%
(previously 6-9%)
GROUP EBIT MARGIN EXCL. SPECIAL ITEMS
Group EBIT margin excl. special items adjusted due to the updated constant currency revenue growth outlook
Emphasized focus on further reducing the full cost base through capacity adjustments and other structural levers to partly offset the revenue shortfall
Special items updated to "Below last year's level of DKK 83m"
Key assumptions
No further deterioration of the current macroeconomic environment and the geopolitical uncertainty
No M&A activity assumed in financial outlook for 2026
12
Agenda
Key business highlights
Regional performance, group financials & outlook
CLOSING REMARKS AND Q&A
MAY 2026 | NNIT | Q1 2026 RESULTS | INVESTOR PRESENTATION13
03 | CLOSING REMARKS & Q&A
Closing remarks
STRONG BUILDING BLOCKS TO LEVERAGE
ACCELERATION OF AI PRODUCT OFFERINGS
ACTING TO RECOVER SHORT-TERM
SHARPENING THE STRATEGIC FOCUS
FULL-YEAR OUTLOOK UPDATED
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MAY 2026 NNIT | Q1 2026 RESULTS | INVESTOR PRESENTATION 14
03 | CLOSING REMARKS & Q&A
Q&A|
MAY 2026 NNIT | Q1 2026 RESULTS | INVESTOR PRESENTATION 15
APPENDIX
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MAY 2026 NNIT | Q1 2026 RESULTS | INVESTOR PRESENTATION 16
Group P&L
NNIT A/S | Quarterly performance | FY performance | ||||
DKKm | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | FY25 FY24 |
Revenue | 422.5 | 430.0 | 431.6 | 462.2 | 464.1 | 1,788 1,851 |
Production cost | 337.5 | 324.0 | 318.5 | 353.5 | 344.3 | 1,341 1,372 |
Gross profit | 84.9 | 106.0 | 113.1 | 108.7 | 119.8 | 447 479 |
Gross margin | 20.1% | 24.7% | 26.2% | 23.5% | 25.8% | 25.0% 25.8% |
Regional overhead cost | 38.2 | 41.9 | 34.1 | 33.5 | 45.4 | 155 180 |
Regional operating profit | 46.8 | 64.1 | 78.9 | 75.1 | 74.4 | 292 299 |
Regional operating profit margin | 11.1% | 14.9% | 18.3% | 16.3% | 16.0% | 16.3% 16.2% |
Corporate cost | 45.6 | 46.0 | 43.4 | 52.2 | 56.4 | 198 182 |
Group operating profit excl. special items | 1.1 | 18.1 | 35.6 | 22.9 | 18.0 | 94 117 |
Group operating profit margin excl. special items | 0.3% | 4.2% | 8.2% | 5.0% | 3.9% | 5.3% 6.3% |
Special items | 8.3 | 29.8 | 7.9 | 20.3 | 25.3 | 83 69 |
Group operating profit incl. special items | -7.2 | -11.9 | 27.7 | 2.7 | -7.3 | 11 48 |
Group operating profit margin incl. special items | -1.7% | -2.8% | 6.4% | 0.6% | -1.6% | 0.6% 2.6% |
17
Region Europe P&L
Region Europe | Quarterly performance | FY performance | ||||
DKKm | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | FY25 FY24 |
Revenue | 142.8 | 151.7 | 148.0 | 160.5 | 168.5 | 629 699 |
Production cost | 116.1 | 115.9 | 115.7 | 126.4 | 128.2 | 486 543 |
Gross profit | 26.7 | 35.8 | 32.3 | 34.1 | 40.3 | 143 157 |
Gross margin | 18.7% | 23.6% | 21.8% | 21.3% | 23.9% | 22.7% 89.4% |
Regional overhead cost | 9.7 | 9.9 | 10.6 | 8.1 | 17.0 | 46 57 |
Regional operating profit | 17.0 | 25.9 | 21.7 | 26.0 | 23.2 | 97 100 |
Regional operating profit margin | 11.9% | 17.1% | 14.7% | 16.2% | 13.8% | 15.4% 56.8% |
Corporate cost | 21.1 | 16.2 | 15.4 | 18.9 | 21.1 | 72 61 |
Group operating profit excl. special items | -4.1 | 9.7 | 6.4 | 7.1 | 2.1 | 25 39 |
Group operating profit margin excl. special items | -2.9% | 6.4% | 4.3% | 4.4% | 1.3% | 4.0% 21.8% |
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Region US P&L
Region US | Quarterly performance | FY performance | ||||
DKKm | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | FY25 FY24 |
Revenue | 66.6 | 53.8 | 82.7 | 89.2 | 87.0 | 313 346 |
Production cost | 53.8 | 37.2 | 53.0 | 59.6 | 50.1 | 200 207 |
Gross profit | 12.8 | 16.6 | 29.7 | 29.6 | 36.9 | 113 139 |
Gross margin | 19.2% | 30.9% | 35.9% | 33.2% | 42.5% | 36.1% 40.0% |
Regional overhead cost | 10.9 | 12.5 | 8.9 | 10.2 | 10.5 | 42 66 |
Regional operating profit | 1.9 | 4.1 | 20.8 | 19.4 | 26.4 | 71 73 |
Regional operating profit margin | 2.9% | 7.6% | 25.2% | 21.7% | 30.4% | 22.6% 21.2% |
Corporate cost | 10.2 | 8.0 | 8.0 | 9.7 | 10.4 | 36 34 |
Group operating profit excl. special items | -8.3 | -3.9 | 12.8 | 9.7 | 16.1 | 35 39 |
Group operating profit margin excl. special items | -12.5% | -7.2% | 15.5% | 10.9% | 18.5% | 11.1% 11.3% |
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Region Asia P&L
Region Asia | Quarterly performance | FY performance | ||||
DKKm | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | FY25 FY24 |
Revenue | 32.3 | 36.1 | 41.8 | 37.9 | 37.0 | 153 149 |
Production cost | 27.6 | 27.6 | 33.0 | 31.2 | 30.2 | 122 123 |
Gross profit | 4.7 | 8.5 | 8.8 | 6.7 | 6.8 | 31 26 |
Gross margin | 14.6% | 23.5% | 21.0% | 17.7% | 18.3% | 20.2% 17.2% |
Regional overhead cost | 3.8 | 3.4 | 3.7 | 4.0 | 3.9 | 15 18 |
Regional operating profit | 0.9 | 5.1 | 5.1 | 2.8 | 2.8 | 16 8 |
Regional operating profit margin | 2.8% | 14.1% | 12.1% | 7.3% | 7.6% | 10.3% 5.2% |
Corporate cost | 5.2 | 3.9 | 3.8 | 4.4 | 4.7 | 17 14 |
Group operating profit excl. special items | -4.3 | 1.2 | 1.2 | -1.6 | -1.9 | -1 -6 |
Group operating profit margin excl. special items | -13.3% | 3.3% | 2.9% | -4.2% | -5.1% | -0.7% -4.0% |
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Public DK incl. passthrough
Public DK incl. passthrough DKKm Revenue Production cost | Quarterly performance | FY performance | ||||
Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | FY25 FY24 352.3 389.1 304.1 309.0 | |
88.1 72.8 | 97.7 80.3 | 77.7 67.7 | 89.0 77.2 | 87.9 78.9 | ||
Gross profit | 15.3 | 17.4 | 10.0 | 11.8 | 9.0 | 48.2 80.1 |
Gross margin | 17.4% | 17.8% | 12.9% | 13.3% | 10.2% | 13.7% 20.6% |
Regional overhead cost | 10.1 | 10.6 | 7.2 | 7.6 | 6.9 | 32.3 21.6 |
Regional operating profit | 5.2 | 6.8 | 2.8 | 4.2 | 2.1 | 15.9 58.5 |
Regional operating profit margin | 5.9% | 7.0% | 3.6% | 4.7% | 2.4% | 4.5% 15.0% |
Corporate cost | 9.1 | 17.9 | 16.0 | 19.2 | 20.3 | 73.4 72.5 |
Group operating profit excl. special items | -3.9 | -11.1 | -13.2 | -15.0 | -18.2 | -57.5 -14.0 |
Group operating profit margin excl. special items | -4.4% | -11.4% | -17.0% | -16.9% | -20.7% | -16.3% -3.6% |
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Public DK excl. passthrough
Public DK excl. passthrough DKKm Revenue Production cost | Quarterly performance | FY performance | ||||
Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | FY25 FY24 259.7 285.6 211.5 205.5 | |
71.5 56.2 | 64.8 47.4 | 61.0 51.0 | 65.7 53.9 | 68.2 59.2 | ||
Gross profit | 15.3 | 17.4 | 10.0 | 11.8 | 9.0 | 48.2 80.1 |
Gross margin | 21.4% | 26.9% | 16.4% | 18.0% | 13.2% | 18.6% 28.0% |
Regional overhead cost | 10.1 | 10.6 | 7.2 | 7.6 | 6.9 | 32.3 21.6 |
Regional operating profit | 5.2 | 6.8 | 2.8 | 4.2 | 2.1 | 15.9 58.5 |
Regional operating profit margin | 7.3% | 10.5% | 4.6% | 6.4% | 3.1% | 6.1% 20.5% |
Corporate cost | 9.1 | 17.9 | 16.0 | 19.2 | 20.3 | 73.4 72.5 |
Group operating profit excl. special items | -3.9 | -11.1 | -13.2 | -15.0 | -18.2 | -57.5 -14.0 |
Group operating profit margin excl. special items | -5.5% | -17.1% | -21.6% | -22.8% | -26.7% | -22.1% -4.9% |
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SCALES
SCALES | Quarterly performance | FY performance | ||||
DKKm | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | FY25 FY24 |
Revenue | 92.7 | 92.7 | 92.7 | 92.7 | 92.7 | 92.7 92.7 |
Production cost | 67.2 | 67.2 | 67.2 | 67.2 | 67.2 | 67.2 67.2 |
Gross profit | 25.5 | 25.5 | 25.5 | 25.5 | 25.5 | 25.5 25.5 |
Gross margin | 27.5% | 27.5% | 27.5% | 27.5% | 27.5% | 27.5% 27.5% |
Regional overhead cost | 3.7 | 3.7 | 3.7 | 3.7 | 3.7 | 3.7 3.7 |
Regional operating profit | 21.8 | 21.8 | 21.8 | 21.8 | 21.8 | 21.8 21.8 |
Regional operating profit margin | 23.5% | 23.5% | 23.5% | 23.5% | 23.5% | 23.5% 23.5% |
Corporate cost | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 0.0 |
Group operating profit excl. special items | 21.8 | 21.8 | 21.8 | 21.8 | 21.8 | 21.8 21.8 |
Group operating profit margin excl. special items | 23.5% | 23.5% | 23.5% | 23.5% | 23.5% | 23.5% 23.5% |
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MAY 2026 | NNIT | Q1 2026 RESULTS | INVESTOR PRESENTATION 24