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Q3/9M 2026 Results Presentation4 November 2026 Unlocking newPotential
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Disclaimer ThispresentationdoesnotconstituteanofferorinvitationtosellorissuesecuritiesoftheCompany,norshoulditbeconstruedasanofferorinvitationtopurchaseorsubscribeforsecuritiesoftheCompany,norshouldanypartofitorthefactofitsdistributionbeconstruedaspartoforrelieduponinconnectionwithanycontractorinvestmentdecision,nordoesitconstitutearecommendationregardingthesecuritiesoftheCompanyoranypresentorfuturememberoftheGroup.Thepresentationcontainscarefullypreparedinformation.However,theCompanydoesnotguaranteetheaccuracy,completenessorreliabilityoftheinformationandassumesnoliabilityforlossesresultingfromtheuseofthisinformation.Thepresentationanddiscussionmaycontainforward-lookingstatementsaboutthebusiness,financialandearningssituationaswellasprofitforecastsoftheScout24Group,whichareonlyvalidatthetimeofpublicationofthisdocument.Termssuchas‘may’,‘will’,‘expect’,‘anticipate’,‘consider’,‘intend’,‘plan’,‘believe’,‘continue’and‘estimate’,variationsofsuchtermsorsimilarexpressionscharacterizetheseforward-lookingstatements.Suchforward-lookingstatementsarebasedonthecurrentassessments,expectations,assumptionsandinformationoftheScout24ManagementBoard,manyofwhicharebeyondScout24’scontrol.Thestatementsaresubjecttoavarietyofknownandunknownrisksanduncertainties.Actualresultsanddevelopmentsmaythereforediffermateriallyfromtheseforward-lookingstatements.TheCompanyassumesnoobligationanddoesnotintendtoupdate,revieworcorrecttheseforward-lookingstatementsduetonewinformationorfutureeventsorforotherreasons,unlessthereisanexpresslegalobligationtodoso.AlternativeperformancemeasuresareusedthatarenotdefinedaccordingtoIFRSandshouldbeconsideredsupplementary.Specialitemsusedtocalculatesomealternativemetricsmaynotderivefromordinarybusinessactivities.Duetorounding,numbersandpercentagesmaynotaccuratelyreflecttheabsolutefigures.Incaseofanydivergence,theGermanversionshallhaveprecedenceovertheEnglishtranslation.Financialfiguresincludedinthisdocumenthaveneitherbeenauditedinaccordancewith§317HGBnorreviewedbyanauditor. 2Q3/9M 2026 Results | November 2026
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Business &MarketUpdate 3Q3/9M 2026 Results | November 2026
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Q3/9M 2026 Highlights YoY growth, Q3 2026Revenue +19.7%ooEBITDA +15.9%Adj. EPS +21.5% Strong Q3 performance:Revenue increased by 19.7% and 10.1% organically, alongside accelerating ooEBITDA and adjusted EPS growth.Broad-based growth across product portfolio:Balanced contributions from B2B and B2C subscriptions, Transaction Enablement and Pay-per-Ad.Private subscriptions revenue returned to double-digit growthsupported by growing adoption of higher-value memberships, including grey-market access and AI-powered features.AgenticOS comes to life:Rapidly growing AI-powered search adoption among seekers; launch of Proppi brings agentic assistance into everyday professional workflows.Spain integration gaining momentum:+2.4% customers added since June, improving revenue momentum and a significantly stronger ooEBITDA margin.FY2026 guidance: Revenue growth specified to c. 18%, including 7-8pp from Spain; ooEBITDA margin guidance unchanged at up to 61% reported and up to 64% organically.4Q3/9M 2026 Results | November 2026
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Q3/2025Q4/2025Q1/2026Q2/2026Q3/2026# of Subscriber24,01624,21424,38324,66824,945Growth y-o-y +6.2%+5.2%+3.7%+3.6%+3.9% Q3/2025Q4/2025Q1/2026Q2/2026Q3/2026# of Subscriber526,740503,590507,602517,739534,003Growth y-o-y +14.5%+7.1%+2.5%+3.1%+1.4% 2022 Q3/20262023202420252022 Q3/2026202320242025 5Q3/9M 2026 Results | November 2026 B2B customer growth remains strong, while sequential growth in the B2C subscriber base acceleratesAvg. number of professional customers (GER)in k Avg. number of private customersin k
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Sales market remains resilient despite higher interest rates, while rental enquiries pick upScout24 Transaction Momentum¹ and Listings² Index Contact request to agents³ 179 91 152109 1 Index includes residential as well as commercial transactions, and is derived from various data sources and proprietary Sprengnetter data.2 Listings Index contains all German listings on the platform.3 Index is based on contact requests for existing properties for sale or rent.6Q3/9M 2026 Results | November 2026
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Asking prices have edged higher in 2026, while transaction prices remain flat as mortgage rates rise●Asking prices●Transaction pricesGermany, apartments and single-family homes, indexed Sep 2025 –Sep 2026: flat Stable prices at subdued volumes: Prices fell about 10% from the 2022 peak to the trough and are now 4–6% below the peak.Sources: Sprengnetter / ImmoScout24; indexed asking and transaction prices, Germany, Jan 2020–Sep 2026; average of apartments and single-family homes. Mortgage rates: Interhyp, average 10-year fixed rate, Sept. 2026 vs. Sept. 2025. Transaction prices ±0%Mortgage rates (10-yr fixed) Sept. 2026 vs. Sept. 2025 +70 bp7Q3/9M 2026 Results | November 2026 4.4% in Sept. 2026 vs. 3.7% in Sept. 2025
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ImmoPunkte continues to scale as AI and ecosystem 01Strong platform engagement with accelerating AI adoption 02Exclusive content and AI-powered services accelerate B2C growth 03Propstack becoming CRM of choice for German agents, with Proppi adding an agentic layer 04ImmoPoints expands usage-based monetisation across our ecosystem AgenticOS execution gains momentum 05Scout24’s unique moats power specialist AI for the real estate journey, beyond generalist LLMs8Q3/9M 2026 Results | November 2026
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We are seeing stable user numbers, deeper engagement and rising search activity, with lead volumes up 8% versus Q2 2026Monthly users 19m-1% YoYQ3 2026 average Search requestsin million +3.5% YoY Registered accounts +17%YoYSeptember 2026 Saved searches +5%YoYSeptember 2026 Total lead volume +8%since Q2 2026 9Q3/9M 2026 Results | November 2026 01
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Scout24´s AI-powered search grows strongly year-on-year, reaching 2.5% of total search requestsAI-powered search requests on IS24, Q3 2026 >10m+26xYoY growth AI share of total search requests on IS24 0.1%→2.5%August 2025August 2026 #1on ChatGPT●ImmoScout24●Next best in categoryVisibility, weekly #1on Google AI Overviews●ImmoScout24●Next best in categoryVisibility, weekly Source: peec.ai, 12 Mar–7 Sep 2026, peer set shown; illustrative representation. 01 10Q3/9M 2026 Results | November 2026
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B2C subscription revenue growth accelerates further, driven by increasing adoption of premium memberships 40%in higher-value memberships4×more viewing invitations+4ppUnlimited subscription sharevs. Q2 2026 Subscription / mixStandardc. 60%Proc. 30%Unlimitedc. 10%Rent journeyGrey market—Buy journey— —AI Application AssistantNEW— — Subscription revenue growth (% y-o-y) 02 11Q3/9M 2026 Results | November 2026 5%of total rent leads via Unlimited AI Application Assistantwith Unlimited AI Application Assistant
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Propstack growth also accelerating as Proppi brings agentic AI into everyday workflowsPropstack revenue growth (% y-o-y)Three-layer workflow + + Proppi in daily work Start preparedEmails, notes and tasks in one briefing Communicate smarterCRM-powered email drafts, ready to review Drive next stepsFinds meeting slots. Turn notes into follow-ups Connect AI with workflows to turn insights into actionCapture new contacts directly in Propstack Answers. Thinks along. Acts. 03 12Q3/9M 2026 Results | November 2026
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ImmoPoints revenue grows 37% y-o-y as usage-based monetisation expands across the ecosystem EUR 3.4m+37% YoYRevenue in September 2026 >10k+41% YoYCustomers using ImmoPoints within new memberships Strong and consistent monetisation growthMonthly revenue ImmoPoints (EUR m) Scaling usage-based monetisationImmoPoints can be used for a growing range of products in our ecosystem Listing visibilityPanorama, Rotation, Push Me Up Data & valuationSprengnetter Value, energy certificates AI-powered marketingAI Videos, Social Media Boost 04 13Q3/9M 2026 Results | November 2026
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We believe our AgenticOS will deliver the best real estate experience, while remaining open to external AI agents ChatGPT dots Claude Duet Gemini Tasks Meta Muse Perplexity Computer Scout24 competitive moatsVerified unique dataTrusted PlatformTransaction BackendExclusive Content Agent factory HeyImmo 05 14Q3/9M 2026 Results | November 2026
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15Q3/9M 2026 Results | November 2026 Financial Update
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Financial Metrics DashboardRevenueEUR m ooEBITDAEUR m Adjusted EPSEUR Operating cash flowEUR m +19.7% +17.9% +15.9% -2.0pp62.9%60.9% -1.5pp61.9%60.4% +15.1% +21.5% +19.7% -19.6% ooEBITDA marginin % ExcludingLTIP settlementsand Sprengnetter acquisition +16.5% 16Q3/9M 2026 Results | November 2026
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Professional subscriptions continue to grow strongly, supported by customer additions and higher ARPU in Germany. Subdued project activity for developers and new-build providers tempered ARPU growth.Transaction Enablement growth accelerates from 4.2% in Q2 to 8.8% in Q3; CRM and digital data & valuation with strongest contributionsReported ooEBITDA margin improved sequentially to 60.7%, up 0.8pp from Q2.Organic profitability remains strong, with a Q3 ooEBITDA margin of 63.9%, up 1.2pp year on year. EUR mQ3 2026Q3 2025Change9M 20269M 2025ChangeProfessional revenue146.7119.0+23.3%424.3350.0+21.2%Subscription revenue 111.886.3+29.6%321.5252.2+27.5%Subscription revenue GER91.381.9+11.5%271.5239.3+13.4%# Customers (period avg.) GER24,94524,016+3.9%24,66523,780+3.7%ARPU (EUR) GER1,2201,136+7.4%1,2231,118+9.4%Subscription revenue RoE20.54.4>100%50.012.9>100%Transaction enablement revenue29.126.7+8.8%85.180.3+6.0%Other revenue5.86.0-3.1%17.517.6+0.7%Professional ooEBITDA89.174.6+19.4%256.1216.5+18.3%Professional ooEBITDA margin60.7%62.7%-2.0pp60.4%61.8%-1.5ppooEBITDA margin (organic)63.9%62.7%+1.2pp64.0%61.8%+2.2pp Professional:Subscription revenues continue to grow strongly, complemented by accelerating growth in Transaction Enablement 17Q3/9M 2026 Results | November 2026
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Momentum building in Spain as key metrics improveSpain · Q3 2026 Growth reacceleratingEUR 15.8mRevenueup 2% from EUR 15.5m in Q2 Profitability improving34.2%ooEBITDA marginQ3 2026 Customer base expanding+2.4%Professional customersend June to end September Record lead volume+14%Leads (Fotocasa)total leads YoY, September Double-digit sessions growth+12%Traffic (Fotocasa)sessions YoY, September 18Q3/9M 2026 Results | November 2026
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EUR mQ3 2026Q3 2025Change9M 20269M 2025ChangePrivate revenue51.646.7+10.5%146.2133.8+9.3%Subscription revenue30.727.8+10.4%86.380.2+7.6%# Customers (period avg.)534,003526,740+1.4%519,781508,052+2.3%ARPU (EUR)19.117.6+8.9%18.517.5+5.2%PPA revenue16.415.0+9.8%46.642.2+10.6%Other revenue4.43.9+13.8%13.211.4+15.6%Private ooEBITDA31.829.6+7.3%88.683.1+6.6%Private ooEBITDA margin61.6%63.5%-1.9pp60.6%62.1%-1.5pp Private segment:Subscription revenue growth accelerates to double-digits in 3Q 19Q3/9M 2026 Results | November 2026 Private delivered its strongest revenue growthof the year at 10.5%, with broad-based contributions from subscriptions and Pay-per-Ad.Subscription revenue accelerated further to 10.4%, supported by ARPU growth of 8.9% and stronger sequential subscriber growth: the average base increased by approximately 4k in Q1, 10k in Q2 and 16k in Q3, reaching 534k.Pay-per-Ad revenue grewby 9.8%, supported by higher listing volumes, longer marketing periods and continued demand from private landlords.Profitability improved sequentially, with the ooEBITDA margin reaching 61.6%, while temporarily higher marketing spending weighed on the year-on-year comparison.
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EUR mQ3 2026Q3 2025Change9M 20269M 2025ChangeRevenue198.2165.6+19.7%570.5483.8+17.9%Revenue (organic)182.4165.6+10.1%534.2483.8+10.4%Own work capitalised7.14.4+60.7%19.514.4+35.3%Personnelcosts-31.8-29.5-7.8%-94.7-86.8-9.1%Marketing costs-15.8-10.7-47.8%-49.3-34.0-45.0%IT costs-8.5-5.7-50.2%-23.4-16.9-38.6%Purchasing costs-13.8-11.2-23.2%-39.7-34.5-15.1%Other operating costs-14.5-8.7-66.0%-38.3-26.6-44.2%Total operating effects-84.5-65.8-28.3%-245.3-198.7-23.4%ooEBITDA120.8104.2+15.9%344.7299.6+15.1%ooEBITDAmargin60.9%62.9%-2.0pp60.4%61.9%-1.5ppooEBITDA margin (organic)63.3%62.9%+0.4pp63.1%61.9%+1.2pp Slower cost growth and improving profitability in Spain support sequential margin expansion to 60.9% 20Q3/9M 2026 Results | November 2026 Personnel and marketing (two largest cost categories) declined vs. Q2, helping slow year-on-year operating cost growth, driving sequential margin improvementReported ooEBITDA margin improvedto 60.9%, from 60.2% in Q2. Organic margin reached 63.3%, up 0.4pp year on year.Organic personnel costs fell by 7.0% year on year, compared with 2.2% in Q2, as organisational changes, automation and AI adoption improved productivity. 60.1%60.2%60.9%
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Building our AI-native organisation is gaining momentum, supporting lower personnel costsAI efficiency priorities 1Build faster and moreExpansion of coding capacity due to AI coding agent 2Automate routine workAgent-supported workflows to free capacity for higher-value tasks 3Scale efficientlyMore output per employee, with less reliance on additional hiring Organic personnel cost developmentChange y-o-y -2.2% Q2 2026 -7.0% Q3 2026Q4 20262027–2028 15.4%Q2 2026vs. 17.4% (Q2 ’25) 15.0%Q3 2026vs. 17.8% (Q3 ’25)21Q3/9M 2026 Results | November 2026 Organic personnel costs in % of revenue Further y-o-ysavings expecteddriven by AI efficiencies
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EUR mQ3 2026Q3 2025Change9M 20269M 2025ChangeooEBITDA120.8104.2+15.9%344.7299.6+15.1%Non-operating effects-4.2-7.2+41.6%-14.7-42.8+65.6%Reported EBITDA116.697.0+20.2%330.0256.8+28.5%D&A -14.2-12.1-17.0%-42.3-36.3-16.6%EBIT 102.484.9+20.7%287.7220.5+30.5%Financial result-1.7-0.8<−100 %0.6-8.8>+100 %Earnings before tax100.784.1+19.8%288.2211.7+36.2%Taxes on income-29.717.4<−100 %-85.5-21.2<-100 %Net income71.1101.5-30.0%202.8190.5+6.4%Basic EPS (EUR)1.031.41-26.5%2.902.64+10.1%Adjusted net income75.164.8+15.8%213.6184.5+15.8%Adjusted EPS (EUR)1.090.90+21.5%3.062.55+19.7%Weighted avg. # shares 68,694,83672,070,026-4.7%69,873,89872,277,470-3.3% Non-operating effects declined significantly year-on-year, supporting reported earnings growth (details on the following page). Reported net income increased in 9M, despite absorbing the impact of the deferred tax benefit in Q3 2025. Adjusted EPS growth accelerates to 21.5%, supported by strong operating performance and buybacks 22Q3/9M 2026 Results | November 2026
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Non-operating effects were significantly lower y-o-y. SBC contributed a positive EUR 1.7m effect in 9M, mainly reflecting the lower share price (9M 2025: EUR -23.1m); lower M&A expenses were partly offset by higher reorganisation costs.PPA D&A increase due to Spainacquisition.The financial result was also adjusted, mainly for fair value gains on VC fund investments (EUR 5.8m). Adjusted net income: Net Income is adjusted for: (1) non-operating effects (2) D&A and impairment losses on assets acquired in mergers, and (3) effects from mergers included in the financial result, such as measurement of purchase price liabilities and tax impacts. 23Q3/9M 2026 Results | November 2026 Lower share-based compensation and M&A expenses improve non-operating effectsEUR 2.90Reported EPS EUR 3.06Adjusted EPS Adjusted net income bridgeEUR m
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Free cash flow remains strong, excluding LTIP settlements and the 25% Sprengnetter stake paymentEUR 55.3m including:EUR 27.2m LTIP settlementsEUR 23.5m Sprengnetter acquisition1 Free cash flow developmentEUR m Free cash flow conversion ratios for 9M 2026 71%as % of adjusted net income44%as % of ooEBITDA 24Q3/9M 2026 Results | November 2026 Free cash flow bridgeEUR m 1 The total payment for the remaining 25% stake in Sprengnetter amounted to EUR 46.0 million, comprising EUR 23.5 million recognised in operating cash flow and EUR 22.5 million recognised in investing cash flow. +14.6%-25.3%
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Balance sheet remains strong while supporting shareholder returns and strategic M&ALeverage increase driven by shareholder returns and strategic M&ANet debt, EUR m Leverage1Net debt / ooEBITDA LTM 1 Leverage = Net Debt / ooEBITDA LTM; share buy-back liabilities excluded corresponding to leverage calculation within RCF agreement25Q3/9M 2026 Results | November 2026 Fotocasa and Sprengnetter
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Accelerating buybacks at historically low multiples, confident in delivering our targets01What we deployed in 202602Why we do it03Impact for shareholdersShare buybacks EUR 292m>4m shares repurchased in 9M 2026Average price paid EUR 72.78per shareShares repurchased 5.3%of share capital at start of 2026 Value creationBuybacks funded at a pre-tax cost of debt of about 4% Consistent delivery & strong outlookScout24 continues to deliver consistent results and is confident to deliver CMD2026 financial targets Attractive entry pointA unique opportunity to invest in Scout24 at historically low multiples Increased buybacks support adjusted EPS growth Adjusted EPS growth (YoY)Adjusted net income growth (YoY)Reduction in weighted average shares (YoY)26Q3/9M 2026 Results | November 2026
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FY 2026 revenue guidance specified to c. 18%; profitability targets reaffirmedRevenue growth ofc. 18%thereof Spain / M&A7-8ppooEBITDA marginup to 61%organic ooEBITDA marginup to 64%27Q3/9M 2026 Results | November 2026
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Key takeaways 01Delivering consistent double digit revenue growth and margin expansion while executing Agentic OS 02Further customer growth across B2B and B2C 03AI-powered products drive growth and ARPU04AgenticOS positions Scout24 as agent-friendly for the “AI-first world” –with our own AI agents and access for external agents 05Integration of Fotocasa progressing well06FY2026 revenue growth guidance specified to c. 18%, the upper end of the previous range; ooEBITDA margin guidance confirmed 28Q3/9M 2026 Results | November 2026
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Q&A29Q3/9M 2026 Results | November 2026
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Preliminary Q4/FY 2026 results25 February 2027 Filip Lindvall –Vice President Group Strategy & Investor Relationsir@scout24.com
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Appendix 9M 20269M 2026 y-o-y EUR m 9M 2026thereof organicthereof Spain1 Totalthereof organicTotal operating cost3 245.3214.630.7+23.4%+8.0%Personnel Costs94.782.712.0+9.1%-4.7%Marketing 49.341.28.1+45.0%+21.1%IT Costs 23.418.84.5+38.6%+11.7%Purchasing Costs39.738.11.6+15.1%+10.5%Other operating expenses38.333.84.5+44.2%+27.1%1 Includes seven months of contribution from the Spanish business following its initial consolidation.2 Including EUR 4.2m of TSA costs in 9M 2026; 9M 2026 Spain margin: 32.7% (adjusted for TSA costs)3Operating costs before capitalisation. 2 31Q3/9M 2026 Results | November 2026