Slides
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FINANCIAL TARGETS 2028 NOVEMBER 2025
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2 Our all -electric fleet of ~1,400 EVs Niche offering to support transport of small goods. Cargo trip duration is longer than our average. C A R G O Our main fleet component. A small car with a spacious feel, perfect for trips in and around the city. C O R EOur offering for a premium trip, longer rides, business or just more space. P R E M I U M Our newest offering, for groups, families, clubs, institutions or a trip to the airport with loads of luggage. BUS
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3 GreenMobility is the leading free -float car -sharing platform in Denmark Notes: 1) Market cap as of November 2025 (Data: Nasdaq) GreenMobility at a glance We have steady revenue growth in part due to increasing trip volumes and higher average revenue per car. 56% 18%25% 72% 15-17% 33 51 64 75 130 2020 2021 2022 2023 2024 2025 Revenue growth in Denmark DKKk Better operations (with scale) and disciplined cost control have been main contributors to EBITDA growth. 13,651 24,077 H1 2024 H1 2025 76%+135,000 t r i p s p e r m o n t h DKK ~500m m a r k e t c a p1 15 -17% e x p . r e v e n u e g r o w t h i n 2 0 2 5 ~1,400 u n i t s i n f l e e t 42 -47% e x p . E B I T D A g r o w t h i n 2 0 2 5 EBITDA growing significantly DKKk
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4 Our purpose: We enable zero -emission, urban mobility today and are building the platform for an autonomous future Change log: New slide. 400 Urbanization Sustainability Sharing economy We launched with 400 cars as the first electric car fleet in Copenhagen. With that, we brought a new mobility option to Denmark. 1,400 We are now the leading free-float car- sharing with +1,400 cars in the fleet. We have proven electric fleets are scalable and profitable. We execute early on new technologies and now we want to redefine urban mobility with self-driving cars in Denmark.
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5 GreenMobility is a sustainable and profitable company TURNAROUND 2023 – 2025 We evaluated our market presence and exited foreign markets in 2023 to focus on Denmark. We focused on efficiency and implemented cost discipline to create a profitable company. PROFITABILITY 2024 – 2025 We achieved profitability in 2024, proving that car- sharing can be profitable. We continue building a better GreenMobility through automation, fleet optimization, and lean management. BLITZSCALING 2016 – 2023 GreenMobility intended to build the leading free- float platform in Europe. We invested and scaled rapidly across markets and captured significant market share. STRATEGY 2028 2026 – 2028 GreenMobility continue to have untapped growth in Denmark. We now intend to make focused investments into organic revenue growth. AUTONOMOUS DRIVING 2028 – We are developing our platform to service self- driving cars in Denmark. We believe GreenMobility has the right foundation for a platform given our customer relationships and local market insights. Change log: Combined turnaround and cost discipline. New box on self-driving cars.
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6 Launch of Financial Targets 2028: Driving towards an autonomous future Our four strategic priorities 1 Denmark remains core as we see untapped growth opportunities 2 Average revenue growth of 8-12% with EBITDA growth of 12-16% per year 3 Strengthening the balance sheet, with an ambition to redistribute excessive cash We have untapped revenue growth and remain focused on the Danish market. We do not believe the time is right for international expansion. We believe car-sharing is still in its early adoption phase. We aim to grow revenues organically on average at a rate of +8-12% p.a. and EBITDA at a rate of +12-16% per year towards 2028. Our balance sheet has strongly improved. We will consider options for capital allocation including share buy-backs and communicate considerations in due course. Our aim is to be able to redistribute cash when solidity1 is above 20%. We will be the frontrunner of autonomous driving and bring it to Denmark. 4 Bring autonomous driving to Denmark We are preparing for a future with self-driving cars Notes: 1) Solidity defined as Equity ratio = Equity / total assets Change log: Changed wording in box 1. Changed wording in box 2. Changed wording in box 3. Changed wording in bullet point 2. Changed wording in bullet point 3.
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7 Delivering sustainable value creation: Achieving 8-12 % organic growth with a focused strategy We aim to expand market presence in Denmark and make focused investments in technology Notes: 1) Statistics Denmark, Population Projection. 2) Statistics Denmark, Transport statistics September 2025. 3) Statistics Denmark, Population Projection. 4) Based on internal analysis and real-world examples by McKinsey & Company, Gartner Research and Uber. Deploy technology in app and cars We seek to invest in technology that unlocks revenue growth. Technology like dynamic pricing can increase revenue and profitability by 5-15%4 and will deploy it with our next-gen platform in 2026. We invested in technology with safety and security sensors in 2025 and already see higher rates of compliance and increased customer satisfaction with the car-sharing experience. Box better; too much info Customer experience 17 y.o., 14k p.a. Tech = cost savings Change log: Revised whole slide. Increasing diversity in our customer segments and types of trips Copenhagen Municipality is forecasting 4.9% population growth from 2025 towards 2030 for a total of 700k citizens. From 2015 to 2025, citizens increased from 580k to 667k, growth of 5.5%2. In the Greater Copenhagen Region, 52% of families do not have a car, in total 555k families. Further, 86k of families have two cars for private use3. We have a limited market share among visitors in Denmark. We are present at Copenhagen Airport and have distribution dialogues with mobility partners to reach more visitors in their trip planning stage. Copenhagen Municipality is forecasting 4.9% population growth from 2025 towards 20301.5% Growing population In the Greater Copenhagen Region, 52% of families do not have a car, in total 555k families. 86k of families have two cars for private use2. 52% Families without a car New customers We have a limited market share among visitors in Denmark. We have distribution dialogues with mobility partners to reach more visitors in their trip planning stage. Dynamic pricing technology can grow revenues by 5-15%4 and we will deploy it with our next-gen platform in 2026.5-15% Dynamic pricing impact New technology We invest in safety and security technology (sensors) and see higher compliance rates, reduced costs and more customer satisfaction with the car-sharing experience. Legislative changes allows 17-year- olds to drive. It generates ~14k new potential customers in Copenhagen3. 17 y.o. Growing customer base
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8 FINANCIALS
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9 We have stronger -than -expected performance in 2025 and revised guidance up 3 times during the year Income statement (‘000) H1 2025 H1 2024 Revenue 74,171 57,369 Other operating income 899 - External expenses - 38,457 - 31,155 Gross profit 36,613 26,214 Staff costs - 12,536 - 12,563 EBITDA 24,077 13,651 Depreciation & amortization - 13,960 -9,350 EBIT 10,117 4,301 Financial expenses -4,228 -5,262 EBT 5,889 - 961 Tax on profit/loss - - Profit/loss 5,889 - 961 Strong execution in H1 of our strategic focus We continue to streamline operations, execute on disciplined cost management, and our data-driven marketing efforts have lifted both customer numbers, revenue and earnings to an all-time high. Our guidance1 is revenue growth of 15-17% YoY and EBITDA growth of 42-47% growth YoY. Revenue grew by 29% YoY and reached DKK 74.2 million. EBITDA improved by 76% YoY and reached DKK 24.1 million EBITDA margin improved to 32.5% for H1 2025 versus EBITDA margin of 23.8% for H1 2024. Our profit reached DKK 5.9 million in H1 2025, up DKK 6.85 million year-over-year. Notes: 1) Company announcement no. 181-2025, October 28th. Change log: Changed headline. Revised guidance in bullet point 2.
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10 We are focused on optimizing the balance sheet – we continue to bring down asset debt (1/2) Assets (‘000) Jun 25 Dec 24 Equity & liabilities (‘000) Jun 25 Dec 24 Software 622 809 Share capital 2,367 2,367 Land and buildings 1,486 1,800 Retained earnings 12,527 6,638 Cars 115,978 129,419 Currency - 2,703 - 2,703 Deferred tax asset 8,388 8,388 Total equity 12,191 6,302 Deposits 398 398 Lease liabilities 34,243 44,788 Total non-current assets 126,872 140,814 Loan 13,896 18,145 Total non-current liabilities 48,139 62,933 Inventories 3,092 3,092 Trade receivables 10,109 10,045 Lease liabilities 58,705 59,542 Other receivables 1,223 2,452 Loan 10,015 11,535 Prepayments 1,948 1,043 Trade payables 7,419 12,720 Cash 8,275 9,526 Other payables 15,050 13,940 Total current assets 24,647 26,158 Total current liabilities 91,189 97,737 Total assets 151,519 166,972 Total equity & liabilities 151,519 166,972 Notes: Equity ratio per June 2025: 12,191 / 151,519 = 8.04%
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29,680 104,330 134,010 23,911 92,948 116,859 Loans Lease liabilities Total loan and lease liabilities 11 We are focused on optimizing the balance sheet – we continue to bring down asset debt (2/2) Disciplined capital allocation to asset debt We have taken decisive steps to improve financial resilience and lower our financing “base” costs. We carefully evaluate the use of our cash flow to reduce exposure to “expensive” loans and leases. We do not have debt related to our operations, all our loan and lease liabilities are committed to our asset base. We continue de-risking our asset values as our asset base is depreciated. We find electric cars last longer than initially expected. Operational costs for aging cars does not accelerate. We reduced all liabilities from Dec 24 to Jun 25 -19% -11% -13%
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12 Our 2025 financial guidance: Revenue growth and continued improvement of EBITDA margin Guidance 2025 Revenue +15-17% (vs. 2024) EBITDA +42-47% (vs. 2024) Focus on building sustainable profitability We have revised our guidance 3 times (July, September and October) in 2025 based on a better-than-expected performance. We expected revenue growth of 7-13% YoY and EBITDA growth of 32-42% growth YoY at the beginning of 2025. We continuously monitor development in costs related to our operational business including spare parts, insurance and electricity. Change log: Updated guidance in call- out. Updated guidance in bullet point 1.
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13 Capital discipline : Profitable revenue growth is our strongest priority Priority remains sustainable and profitable growth We intend to return excess cash Our capital base is sufficient to drive average revenue growth 8-12% and EBITDA growth at 12- 16% per year. We will balance investing excess capital in growth and can return cash to investors when the threshold is exceeded. We expect to receive authorization for share buy- backs with the AGM in 2026. We can redistribute cash if our threshold of an equity ratio of 20% is exceeded. (Equity / total assets). Capital allocation strategy when equity ratio exceeds 20% Excess cash can be returned via cash redistribution. Change log: Adjusted sub-headline (left). Adjusted sub-headline (right). Adjusted bullet point 1 (left).
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14 TECHNOLOGY
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15 We are launching our next -gen app platform in 2026… Technology as a driver for margin expansion We can renew our fleet with 1:1 cars or cars of similar capabilities at approx. 35% reduced costs. Refresh resets the depreciation curve, lowers unit maintenance and downtime and standardizes the fleet. Partnerships can be structured to include co-marketing, preferred supply, and integrated service while aligning with OEM strategies. What this means for us: Improve unit economics Differentiate customer experience (away from unity fleet) Expand partner reach (OEM) “Trip-as-test-drive” exposure Market visibility! We have updated cars with safety and security measures (cameras, smoke and damage detectors). Impact: Preventive effect and better documentation for invoicing of customers. With our next-gen app, we can implement dynamic pricing, better overview of car types etc. Sensors are put in parking spots across Copenhagen – we can check and suggest available parking at the destination.
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Better fleet and vehicle health management AI can analyze data in real-time from sensors in vehicles to detect potential vehicle damages With AI we can identify and address issues immediately 16 … and we are looking to leverage and implement AI to become a fully AI -powered car -sharing platform From a digital platform yesterday to an AI-powered service platform today Expand revenues across fleet and services AI-enabled pricing algorithms (implementing dynamic pricing with GreenMobility app 2.0) AI-enabled car placement to fit demand patterns Enhance our team – focus on strategic development AI enables further automation of internal functions, increased efficiency and reduced costs 95% of Q&A can be resolved with chatbots and we focus human enabled-support for complex issues With more resources, our teams focus on strategic development activities AI - P O W E R E D C U S T O M E R S E R V I C E Chatbots can speed up Q&A as +95% of questions are standard and free up our customer service to focus on complex issues. G R O W R E V E N U E S A C R O S S F L E E T A N D S E R V I C E S AI-enabled dynamic surge pricing algorithms to consider real-time data such as demand, supply, weather, and traffic conditions. S T R E N G T H E N I N T E R N A L F U N C T I O N S We are evaluating opportunities to leverage AI to enhance our internal functions like finance and accounting to increase efficiency, reduce costs, and let our teams to focus on strategic development activities. V E H I C L E H E A L T H M A N A G E M E N T AI can analyze data real-time from sensors installed in vehicles to detect unique vibration patterns that indicate potential damages. With AI we can identify and address issues immediately, minimizing downtime and long- term maintenance costs and streamline the reporting and damage management process with customers. H E R T Z A D O P T S A I Link: https://www.cio.com/article/4017506/hertz- adopts-ai-for-fleet-and-workforce- management.html The system ensures “the right car, at the right place, at the right time,” optimizing customer satisfaction by coordinating three critical components: customers, vehicles, and workforce. AI can predict localized surges—e.g., due to weather or flight delays—and recommend reassigning staff or approving overtime via the app.
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17 We want to bring autonomous car -sharing to Denmark – no one has a better foundation Our advantages in Denmark: Training data Political insights Strong customer relationships Operational excellence Notes: 1) Waymo Safety Impact, comparison to an average human driver over the same distance in their operating cities. 2) Obi , The Road Ahead: Pricing Insights On Waymo, Uber and Lyft, June 2025. 80% fewer injury-causing crashes1 Fewer damages leading to lower damage costs and reduced costs to insurance. 91% 79% Fewer serious injury or worse crashes Fewer airbag deployment crashes … for better urban living Ride-sharing with self-driving cars reduces the need for parking spaces, giving more space to urban residents. Why we build for the future Self-driving cars have 22-26 trips per day while we have 3-6 trips per day. Technology is being commoditized, while customer relationships remains key. … as customers pay more… Ride-sharing customers were willing to pay over $10 more for driverless rides than for a Lyft or Uber during peak demand periods2. Change log: Adjusted boxes with data. Added information on trips per day. Notes (Kasper): WHY? Tech is commoditized Value is customer relationships and trip data Ops expert on local More revenue More earnings Fewer costs Data: Self-driving cars drive 22-26 trips per day GM drives 3-6 trips per day
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18 GreenMobility is stabilized, now we focus our double - down on selected efforts in our Financial Targets 2028 Operational excellence Operational excellence remains key, we focus on disciplined cost control and lean management. We invest in areas backed by data to grow customers, revenue and earnings. Capital allocation We continue to evaluate options to maximize shareholder value with cash redistributions. We can redistribute cash if our threshold of an equity ratio of 20% is exceeded. Deploy new technology Technology creates a better user experience and allows to capture more revenue while reducing costs. Cars with safety and security sensors reduce our operating costs and increase our revenue. Pockets of revenue growth We seek to capture more trips in core markets from urban growth, new customer segments, and new offerings. 52% of families in Greater Copenhagen area do not have a car. Prepare for self-driving cars We believe GreenMobility has the best foundation to manage fleets of self- driving cars, and we are building that platform. We seek to be among the first in Denmark to offer self-driving cars. COST SAVINGS + Revenue Customer exp.++ We capture more revenue with technology like dynamic pricing can grow revenue and profitability by 5-15%. Cars with safety and security sensors reduce our operating costs with single-digit p.a. Change log: Adjusted box 1. Adjusted box 2. Adjusted box 4.
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g r e e n m o b i l i t y . c om CONTACT: Kasper Gjedsted Group CEO kg@greenmobility.com +45 21 41 80 30