Interim Report Q1 2026 (Presentation)

Interim report Q1 2026 January - March

Q1 2026 Interim Report presentation

Agenda

1. Introduction

2. Quarterly update

3. Financials

4. Closing remarks

Magnus Lönn

President & CEO

Åsa Regen Jansson

Interim CFO

3

Q1 2026 Interim Report presentation

Introduction

Magnus Lönn

President and Chief Executive Officer

4

Q1 2026 Interim Report presentation

European technology specialist in secure, sovereign hybrid cloud for mission- and societal-critical data infrastructure

Proact in brief

Financial performance

Geographical footprint

• Founded in 1994, Proact has secured business critical data & pushed the limits of technology while

  Revenue

  Adjusted EBITA
  
  

• Present in 12 countries across Europe and North America, combining

  delivering business agility for 3 decades

• Serving ~4,000 medium and large enterprise

  customers across Europe

• SEK ~5 billion turnover with stable finances

  3.683

  27%

  4.679

  198

  60%

  316

  international reach with local understanding

• Business units: Nordic & Baltics,

  UK, West and Central

• Listed on Nasdaq Stockholm since 1999 (ticker:

  PACT)

• A local trusted European partner with ~1,100

2021 2025

Revenue split, 2025

2021 2025

Employees with industry-leading skills & expertise

Flexible &

agile scalability

Any application. Anywher e.

Faster

digitalization & DevOps

Self-service and automation

Modern

workspace

9%

23%

Systems

Support Services Managed Cloud

Services (MCS)

Start ut ilising theadvantages with

Hybrid cloud

55%

Consulting Services

private

hosted

public

14%

Customer dat a cen ter

Proact data cent ers

Deployment models

Hyper-scaler data center

Q1 2026 Interim Report presentation

We offer best-in-class services; Our broad offering enable us to support our customers wherever they are in their cloud journey

Proact offering

Revenue streams1

55%

14%

9%

23%

Systems

Independent provider and value-added reseller of hardware and software, and system architectured solution

Support services

Premium support for the Systems business (high attach rate of c. 70% to system sales)

Managed Cloud Services

Wide range of services, such as Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Storage and Security, as well as modern platforms based on Kubernetes

Consulting services

Broad spectrum of services from strategic consulting services and solution architect design to installation (incl. Kubernetes and Public cloud transformation services)

Selected expert skills (non-

exhaustive)

Cybersecurity solutions

Proact has two 24/7 Security Operations Centers (SOCs) that protect Proact and customer infrastructure all day, every day

Cloud Native services

Through Conoa & BlakYaks, we help companies build the cloud native, container and Kubernetes infrastructure incl. Server as a Code and DevOps services

AI infrastructure

Proact can support customers on their AI journey, offering modern solutions that enable automation and innovation.

Microsoft consulting

Strong consulting expertise, supporting with digital transformation services based on "cloud-first" technologies from Microsoft Azure and Microsoft 365

1) % of revenue roll ing 12 months 2025 6

Q1 2026 Interim Report presentation

Balanced industry exposure and strengthening customer satisfaction, supported by diversified revenue streams

Industry coverage Revenue by industry1

Energy

Telecom Public Sector

NPS from 46 to 62

1%

6%

7%

10%

13%

35%

Public Sector

Retail and Services

Manufacturing Industry Energy

Telecom

Banking, Finance

Media

Other

Retail and Services

in the last 4 years

Banking, Finance

12%

17%

Media

1 Full-year 2025 numbers..

Other Manufacturing Industry

7

Q1 2026 Interim Report presentation

Quarterly update

Magnus Lönn

President and Chief Executive Officer

8

Q1 2026 Interim Report presentation

Margin expansion driven by both market tailwinds and structural improvements

Summary of the quarter Adjusted EBITA margin, R12

• Strong results were driven by higher gross margins and the impact of our

  cost-efficiency programme, which is delivering improved profitability and 12

  operational efficiency across the Group.

• Market characterised by sharp price increases in memory components and extended 10

  lead times. 8

• Proact was appointed an authorized VMware Cloud Service Provider (VCSP) 6

  within the Broadcom Advantage Partner Program.

  4

  After the quarter end 2

• Divestment of Netherlands staffing operations completed post-quarter, to standardise 0

  our offering and increase operational efficiency.

  -2

• Q2 expected to remain relatively good, driven by continued customer pull-forward investments. System sales anticipated to face a dampening effect as pull-forward effects normalise later during the year.

  Q4'

  21

  Q1'

  22

  Q2'

  22

  Q3'

  22

  Q4'

  22

  Q1'

  23

  Q2'

  23

  Nordic & Baltics UK West Central

  Cost-efficiency

  program

  Q3' Q4' Q1' Q2' Q3' Q4' Q1' Q2' Q3' Q4' Q1'

  23 23 24 24 24 24 25 25 25 25 26

  1,243

  Total revenue, MSEK

  (1,215)

  429

  Recurring revenue, MSEK

  (429)

  115

  Adjusted EBITA, MSEK

  (79)

  9.3

  Adjusted EBITA margin, %

  (6.5)

  3.04

  Earnings per share, SEK

  (1.79)

  9

  Q1 2026 Interim Report presentation

  Memory prices up 300-400% since late 2025, driven by extensive global investments in AI.

  Current market conditions Memory component prices - quarterly price index1

• Both implemented and announced price increases have characterised the

  quarter, with lead times extending significantly.

• Manufacturers are prioritising advanced memory for AI accelerators, reducing available supply of conventional DRAM and NAND.

• The situation is assessed to persist for the majority of 2026, with meaningful new capacity not expected before late 2027.

• Customers accelerated investments ahead of further price increases and extended lead times.

• During H1, we expect to see a pull-forward effect from announced and implemented price increases, while in H2 we anticipate the subsequent impact of these increases to become more evident.

Price index

Q1'25 = 100)

0

0

0

0

Q1'25

Q2'25

Q3'25

Q4'25

Q1'26 Q2'26E Q3'26E Q4'26E

2.000

1.50

1.00

DRAM NAND

50

1 Q2-Q4 2026 based on analyst estimates. Sources: TrendForce, Kingston, Counterpoint Research. Actual

prices may differ. 10

Q1 2026 Interim Report presentation

From restructuring to profitability - all four business units in positive territory

Business Units

58%1

Nordic & Baltics

746

Total revenue, MSEK

(718)

98

Adjusted EBITA, MSEK

(80)

13.1

Adjusted EBITA margin, %

(11.2)

14%1

UK

172

Total revenue, MSEK

(159)

9

Adjusted EBITA, MSEK

(1)

5.5

Adjusted EBITA margin, %

(0.6)

16%1

West

198

Total revenue, MSEK

(180)

5

Adjusted EBITA, MSEK

(-4)

2.7

Adjusted EBITA margin, %

(-2.3)

12%1

Central

149

Total revenue, MSEK

(182)

1

Adjusted EBITA, MSEK

(-1)

0.7

Adjusted EBITA margin, %

(-0.6)

1Share of total revenue 11

Q1 2026 Interim Report presentation

Financials

Åsa Regen Jansson

Interim Chief Financial Officer

12

Q1 2026 Interim Report presentation

Total revenue up 2.3% - organic growth of 2.9% as currency effects weigh on reported figures

Total revenue

MSEK

4,888

4,706

1,215

1,243

1,172

1,208

1,084

1,500

1,250

1,000

750

5,000

4,000

3,000

500

250

0

Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026

Revenue LTM

Total revenue

2,000

1,000

0

• Total revenue increased 2.3% to SEK 1,243m (1,215), driven by higher system sales across Nordic & Baltics, UK and West, complemented by consulting revenues from the acquired BlakYaks business.

• Currency headwinds of -3.4% masked the underlying performance.

• Acquisitions contributed 2.7%, reflecting the integration of BlakYaks and Consular.

  13

  Q1 2026 Interim Report presentation

  System revenues up 3.5% - services share stable at 43% and growth in new cloud contracts 24%

  MSEK	Q1/26	Q1/25	Change
  System revenues	712	688	3.5%
  Service revenues	531	524	1.3%
  of which support revenue	165	158	4.1%
  of which revenue from cloud services	264	271	-2.6%
  of which consulting revenue	102	95	7.7%
  Other	0	3	-91.8%
  Total revenue	1,243	1,215	2.3%
  Services share of revenue, %	43%	43%	-

  Revenue by revenue stream

  MSEK

  Services

  • System revenues grew 3.5% to SEK 712m, driven by a combination of customer

    +2,3%

    1.243

    1.215

    -3

pull-forward investments and price increases.

1.243

Q1 2025

Nordic & UK Baltics

West

Central

Other Q1 2026

• Nordic & Baltics, UK and West all grew, up 4%, 8% and 10%, respectively.

• Central declined 18% driven by lower system sales in a challenging market with high price levels and extended lead times.

• Central's revenue decline was compensated by growth in the other business units, resulting in total group revenue growth of 2.3%.

15

Q1 2026 Interim Report presentation

Annualised recurring revenue up 44% since 2021 - building a resilient revenue base over time

Annualised recurring revenue (ARR), LTM

MSEK

1,693

1,755

1,740

1,715

1,457

1,194

1,800

ARR of total revenue

%

34%

31%

35%

36%

37%

36%

66%

69%

65%

64%

63%

64%

100%

75%

1,200

50%

600

25%

0

2021 2022 2023 2024 2025 Q1 2026

0%

2021 2022 2023 2024 2025 Q1 2026

Annualised recurring revenue (ARR), LTM Total revenue

16

Q1 2026 Interim Report presentation

Adjusted EBITA up 46% to SEK 115m - margin expands to 9.3% with improvement across all business areas

Adjusted EBITA, margin

MSEK

9.3%

115

7.0%

7.0%

6.5%

6.5%

85

79

76

76

150 10

100

5

50

0

Q1 2025

Q2 2025

Q3 2025

Q4 2025

0

Q1 2026

• Adjusted EBITA increased 46% to SEK 115m (79), driven by higher gross margins and the structural impact of our cost-efficiency programme.

• Margin expansion to 9.3% (6.5%) reflects both current market conditions and improved operational efficiency.

• All four business areas contributed positively - UK up from SEK 1m to

Adjusted EBITA Adjusted EBITA margin

SEK 9m, West and Central both turning positive.

17

Q1 2026 Interim Report presentation

Disciplined capital allocation - strong operating cash flow funds M&A, share buybacks and dividends

Net cash development

MSEK

Cash flow from operations

Capital structure adaption and shareholder value creation

101

20

2

Q1 2025

EBIT

Depreciation and other non-cash

Tax

Working

Capital

M&A

CapEx

Dividend and share repurchases

Leasing

Other

Interest

FX Q1 2026

18

Q1 2026 Interim Report presentation

Consistent shareholder returns - growing dividend and accelerating share buybacks

Dividend1

SEK

2,60

2,40

2,00

1,85

1,50

3

2

1

Share buybacks

Thousand shares, MSEK

1.148

118

509

386

52

44

218

20

1.200

1.100

1.000

900

800

700

600

500

400

300

200

100

150

100

50

0

2021 2022 2023 2024 2025E

0

2023 2024

2025

0

Q1 2026

1The proposed dividend corresponds to 55% (29) of the Net profit for the year and is motivated by the Company's strong

financial position.

Total volume

Number of shares

19

Q1 2026 Interim Report presentation

Closing remarks

Magnus Lönn

President and Chief Executive Officer

20

Q1 2026 Interim Report presentation

Executing on our strategy, delivering on our communicated plan

Summary of the quarter

• Strong results were driven by higher gross margins and the impact of our cost-efficiency programme, which is delivering improved profitability and operational efficiency across the Group.

• Market characterised by sharp price increases in memory components and extended lead times.

• Proact was appointed an authorized VMware Cloud Service Provider (VCSP) within the Broadcom Advantage Partner Program.

• Divestment of Netherlands staffing operations completed post-quarter, to standardise our offering and increase operational efficiency.

• Q2 expected to remain relatively good, driven by continued customer pull-forward investments. System sales anticipated to face a dampening effect as pull-forward effects normalise later during the year.

Adjusted EBITA margin, R12

Cost-efficiency program

12

10

8

6

4

2

Nordic & Baltics UK West Central

0

-2

Q4'

21

Q1'

22

Q2'

22

Q3'

22

Q4'

22

Q1'

23

Q2'

23

Q3'

23

Q4'

23

Q1'

24

Q2'

24

Q3'

24

Q4'

24

Q1'

25

Q2'

25

Q3'

25

Q4'

25

Q1'

26

21

Financial calendar

May 5, 2026

Annual General Meeting

July 16, 2026

Interim report January - June 2026

October 22, 2026

Interim report

January - September 2026

February 12, 2027

Year-end report

January - December 2026

IR contacts

Åsa Regen Jansson Interim CFO asa.regen.jansson@proact.eu

Christopher Ramstedt,

Investor Relations & Communications Manager christopher.ramstedt@proact.eu