Slides
Page 1
Bittium Capital Markets Day 2025 23 September 2025
Page 2
© Bittium 20252 Forward-looking Statements CMD 2025 | Introduction Some statements made in this material relating to future circumstances or status, including, without limitation, the future performance of the company, expectations regarding market growth, trend projections as well as any statements preceded by the words “expect”, “believe”, “foresee” or similar expressions are forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty, and actual results may, therefore, differ materially from the results that are expressed or implied by these forward-looking statements. Bittium Corporation disclaims all obligations to update such forward-looking statements except as required by mandatory law.
Page 3
© Bittium 20253 Agenda CMD 2025 | Introduction 1.Introductions 2. Strategy – Accelerating International Growth + Q&A 3. Engineering Services – Seizing Growth Opportunities with Embedded AI + Q&A 4. Medical – Re-focusing Business for Future Growth +Q&A 10 minutes break, Coffee 5. Defense & Security – Leveraging on Strong Defense Market Growth + Q&A 6. Summary & Closing Q&A Networking & Cocktails, Products & Services Show Room
Page 4
© Bittium 20254 CMD 2025 | Introduction Previous Work History • HT Growth Partners Oy, CEO, 2022–2025. • Keysight Technologies Inc., NEMO Wireless Network Testing, Vice President and Keysight Technologies Finland Oy, Managing Director and Chairman of the Board, 2017–2022. • Anite Finland Oy, Managing Director and Anite Network Testing Business Unit, Managing Director, 2013–2017. • Pulse Electronics, Mobile Division Director and Pulse Finland, Managing Director 2011–2013. • Elektrobit Wireless Communications Ltd., various management positions 2005–2010. • Elektrobit GmbH, Business Development Director, 2004–2005. • Elektrobit Oy, various product development, project management and business positions, 1996–2004. Positions of Trust • Bittium Corporation, Member of the Board and Member of the Audit Committee, 2021–2025. • Bittium Corporation, Member of the Board, 2018–2020. • Creowave Oy, Chairman of the Board, 2023–. • HT Growth Partners Oy, Founder and Chairman of the Board, 2022–. • Manea Capital Oy, Chairman of the Board, 2016–2023, Member of the Board 2023–.
Page 5
5 © Bittium 2025 CMD 2025 | Introduction Niina Huikuri SVP , Medical Tommi Kangas SVP , Defense & Security Jari Inget VP , Engineering Services Petri Hiljanen CFO Kari Jokela CLO Karoliina Malmi VP , Communications & ESG Erik Ahnger VP , Business Development Teemu Hannula VP , Operations
Page 6
Accelerating International Growth Strategy update | Bittium Journey Petri Toljamo, CEO
Page 7
Bittium – 40 Years of Innovations © Bittium 2025 7 Founded in 1985 About Bittium Bittium offers high-technology products and services worldwide. We operate in growing markets, where advanced technology provides a competitive advantage. With 40 years of experience, Bittium is committed to building a more secure, sustainable, and healthier future, benefiting both people and societies. Headquarters in Oulu Finland Employees 500+ Offices in Finland, UK, Germany, USA Net sales 85.2 M€ in 2024 Operating result 8.6 in 2024 M€ R&D investments 15.9% of net sales Listed in Nasdaq Helsinki BITTI NPS score 48 in 2024 Business segments 3 Bittium CMD 2025 | Strategy update
Page 8
© Bittium 2025 8 Bittium tactical communication solutions 75 000+ Government, soldier, national safety, business, maintenance Bittium’s information security solutions 50+ countries R&D projects 500+ Engineering Services Bittium-designed devices 50.000.000+ pieces Tough Mobile 2C NATO certified in 2024 Sales permit 30+ Bittium Faros Sold devices ~600.000+ Bittium Faros Bittium-designed World’s 1. satellite-cellular mobile phone Published clinical articles 300+ Bittium Faros Forerunner in 2G/3G/4G/5G/6G technology development Bittium – 40 Years of Innovations Bittium CMD 2025 | Strategy update Bittium tactical communication solutions used in 5 countries as part of defense command and control system
Page 9
Defense & Security Medical Engineering Services Business Segments © Bittium 2025 9 Bittium net sales in 2024 Defense & Security Medical Engineering 60% 23% 17% Bittium CMD 2025 | Strategy update
Page 10
Strong Position to Accelerate International Growth © Bittium 2025 10 1. Technology forerunner, high-end reliable solutions Bittium is an international product house operating in growing markets, where advanced technology provides a competitive advantage. Bittium CMD 2025 | Strategy update 2. Momentum in growing markets 3. Strong balance sheet as stability enabling opportunities
Page 11
Bittium CMD 2025 | Strategy update Growth Drivers © Bittium 2025 11 Increasing geopolitical tensions and security threats Growing defense funds Modernization of tactical communications Rising demand for secure, high-quality data transfer Aging population and increasing healthcare costs IoT Strong market drivers support growth in all Business Segments.
Page 12
Bittium CMD 2025 | Strategy update Positive Financial Development © Bittium 2025 12 Equity and Liabilities 31.12.2024 Liabilities MEUR 52.3 (31.7%)Equity MEUR 112.8 (68.3%) MEUR Net Sales & Operating Profit 2024 -10,0 0,0 10,0 20,0 30,0 40,0 50,0 60,0 70,0 80,0 90,0 100,0 110,0 2023 2024 2025 MEUR
Page 13
Accelerating International Growth
Page 14
Bittium CMD 2025 | Strategy update T owards Accelerated International Growth © Bittium 2025 14 R&D Phase 2015–2023 Restoring Profitability 2023–2024 • R&D in the center of the business • Strong own product development in tactical product portfolio and secure communications • Enter MedTech product market through an acquisition • Profitability • Preparations for growth • Positive cash flow • Key account management • Focused R&D • Lean organization Current State 2025 • Strong momentum and technological leadership in Defense market • Supporting megatrends on all segments • Expanding geographical reach • Continuing transformation from R&D house to customer- centric international product house Accelerating International Growth 2026- • Accelerating International growth • Expanding to new markets / verticals on Defense • Executing Medical growth strategy • Enhancing software/AI capabilities • Data-driven scalable product operational mode
Page 15
Bittium CMD 2025 | Strategy update Strong Position to Accelerate International Growth © Bittium 2025 15 Accelerating international sales and developing strategic partnerships for growth 1 T echnological forerunner- Strengthening software/AI capabilities and offering 2 Expanding to new markets and verticals in defense and security – exploring inorganic growth opportunities 3 Transformation to a data-driven, scalable product operational mode 4 4 Pillars of the Growth Strategy
Page 16
Bittium CMD 2025 | Strategy update Expanding to New Markets © Bittium 2025 16 Exploring Inorganic Growth Opportunities New verticals • Target adjacent markets with security and reliability requirements, leveraging existing technology base • Utilizing the partnership and investment into Marshall AI to create a giant leap in integrating AI- services and capabilities to tactical communication and medical products • Utilize strategic partnerships to gain market access, compliment offering and build stronger winning concepts Inorganic growth • Assess M&A and strategic investment opportunities that accelerate market entry or bring complementary capabilities • Focus on building synergies from a customer Use Case perspective and building capabilities to compliment and strengthening Bittium products market presence • M&A focus on high technology assets with clear growing markets
Page 17
Bittium CMD 2025 | Strategy update T ransformation © Bittium 2025 17 To a Data-Driven, Scalable Product Operational Model Scalable Product Offering Establishing a Data-Driven Decision Culture From Standard Delivery → Repeatable, Scalable Operating Model Investing in Product Management Excellence From Resource Focus → Value Creation Focus Enabling Organizational Agility and Cross-Functional Collaboration 1. 2. 3. 4. 5. 6. BITTIUM is evolving from a project-based to a scalable, product-driven model. Customer projects will fuel product development, decision-making will be data-driven, and value will be optimized across the product lifecycle - transforming operations, structure, and culture toward sustainable growth.
Page 18
Q&A
Page 19
Seizing Growth Opportunities with Embedded AI Jari Inget Vice President Engineering Services Business Segment Engineering Services
Page 20
CMD 2025 – Engineering Services © Bittium 2025 | Engineering Services20 Engineering Services We provide engineering services that bring ideas to life.
Page 21
Engineering Services © Bittium 2025 | Engineering Services21 Net sales 14.3Engineering in brief As a trusted technology partner with 40 years of experience and over 600 successful projects, we provide world- class engineering and product development services for a wide range of industries. Over 50 Customer manufactured products designed by Bittium Operating result 1.2 in 2024 M€ NPS score 48 in 2024 Employees 129 M€ in 2024 M in 2024 CMD 2025 – Engineering Services
Page 22
Financial Development Defense & Security Medical Engineering Services 17% Defense & Security Medical Engineering Services CMD 2025 – Engineering Services -5 0 5 10 15 20 2023 2024 Net Sales Operating Profit Share of Bittium’s Net Sales in 2024Net Sales and Operating Profit, MEUR -15.6% y-on-y © Bittium 2025 | Engineering Services22
Page 23
CMD 2025 – Engineering Services Growth Drivers © Bittium 2025 | Engineering Services23 Embedded wireless devices Defense sector growth Continuous technology development IoT and e2e services Edge / Embedded AI AI Embedded AI has now evolved to a situation where technology is available and real use case deployments can be made.
Page 24
© Bittium 2025 | Engineering Services24 Productized Services We bring value to our customers with our wireless technology know-how and productized services. CMD 2025 – Engineering Services
Page 25
© Bittium 2025 | Engineering Services25 From HW to SW Centric – Differentiating with Embedded AI CMD 2025 – Engineering Services 1 2 3 4 Embedded AI Offering Defense Segment Opportunity Productized Services Partner Ecosystem
Page 26
© Bittium 2025 | Engineering Services26 From HW to SW Centric – Differentiating with Embedded AI CMD 2025 – Engineering Services 1 Embedded AI Offering Embedded AI Offering • AI run on-device, not in data centers • Technology available • Market pull • Understand customers’ business and use case • Excellent synergy with existing offering • Optimizing overall product features and cost • Ramping up team + utilize partners
Page 27
© Bittium 2025 | Engineering Services27 From HW to SW Centric – Differentiating with Embedded AI CMD 2025 – Engineering Services Embedded AI Offering Defense Segment Opportunity • Market pull • Leveraging on strong brand, references and industry know-how • Turnkey project delivery focus, full lifecycle • Core offering and differentiating with embedded AI • Targeting defense segment OEMs in Europe 2 Defense Segment Opportunity
Page 28
© Bittium 2025 | Engineering Services28 From HW to SW Centric – Differentiating with Embedded AI CMD 2025 – Engineering Services Embedded AI Offering Productized Services • Enabling a more customer-oriented offering • Enhances understanding and facilitates buying of engineering services • More focus in product maintenance phase 2 Productized Services
Page 29
© Bittium 2025 | Engineering Services29 From HW to SW Centric – Differentiating with Embedded AI CMD 2025 – Engineering Services Partner Ecosystem • Value creation through a wider and comprehensive offering • Partners for core offering e.g. ID, EMS • Partners for complementary offering e.g. cloud SW • Better customer service and competitiveness 4 Partner Ecosystem
Page 30
CMD 2025 – Engineering Services © Bittium 2025 | Engineering Services30 1. Existing Engineering Services strong core offering related to wireless technology and embedded devices will remain as the backbone 2. Engineering Services is seeking both growth and competitiveness with enhanced offering o Embedded AI o Productized services o Utilizing partner ecosystem 3. Defense sector will be our main growth driver o New focus area o Recognized brand o Target customers defence OEMs in Europe NATO countries Summary
Page 31
Q&A
Page 32
Medical Re-focusing Business for FutureGrowth Niina Huikuri Senior Vice President, Medical Business Segment
Page 33
© Bittium 2025 | Medical33 “Our vision is to improve people’s health by providing world’s most reliable biosignal measuring solutions – powered by technological innovations and partnerships.”
Page 34
CMD 2025 | Medical © Bittium 2025 | Medical34 With over 40 years of expertise in biosignal measurement, we develop and offer next generation high-tech solutions for cardiac, sleep apnea and brain monitoring. Medical in Brief 600.000+ Faros EKG devices sold 300+ Clinical studies with Faros Employees 103 in 2024 Net sales 19.3 in 2024 M€ R&D investments 27% of net sales Sales in countries Sleep 30+Cardiac Neuro EMG
Page 35
Financial Development Defense & Security Medical Engineering 23% Defense & Security Medical Engineering Services CMD 2025 | Medical -5 0 5 10 15 20 25 2023 2024 Net Sales Operating Result Share of Bittium’s Net Sales in 2024Net Sales and Operating Result, MEUR -12.6% y-on-y © Bittium 2025 | Medical35
Page 36
CMD 2025 | Medical Growth Drivers © Bittium 2025 | Medical36 Global Megatrends • Growing and aging population • Increasing economical well-being • Increasing life-expectancy • Digitalization • Urbanization • Telecommuting • Data security Healthcare Trends • Focus in preventive healthcare • Improved healthcare awareness • At-home remote monitoring • Wearables in healthcare • Technology innovations and AI Market Trends • Atrial fibrillation detection: updated guidelines • EKG monitoring: favorable reimbursement (US) • Sleep apnea detection: new clinical studies • AI in data analysis
Page 37
CMD 2025 | Medical Country-spesific care guidelines Clinical practice KOL adoption Regulatory approvals Clinical validation Reimbursement Competitive landscape Sales channel strategy / availability Respiro HSAT Remote EKG EU marketNeurology segment © Bittium 2025 | Medical37 Market Factors Impacting Medical Device Commercialization
Page 38
© Bittium 2025 | Medical38 CMD 2025 | Medical Our Sales Channels Cardiac Sleep We offer and develop reliable and high-tech solutions for cardiac and sleep monitoring. Our customers include healthcare and medical device companies seeking reliable and patient-friendly products.
Page 39
Remote EKG
Page 40
What is Remote EKG Monitoring? © Bittium 2025 | Medical40 CMD 2025 | Medical Consumer Products/Wearables Holter Patch EKG Event Recorder Loop Recorder 12-Lead EKG (gold standard)
Page 41
CMD 2025 | Medical Remote EKG Monitoring / Holter Market T rends © Bittium 2025 | Medical • Approximately 2/3 of all arrhythmias are atrial fibrillation (AF) and there are 59.7 million diagnosed sufferers worldwide.1 The number of sufferers has increased over 130% since 1990. • AF causes about 15–25% of all ischemic strokes, particularly in the elderly.2 • Holter monitoring is used to detect rhythm disorders in patients with symptoms of dizziness, fainting, palpitations, or chest pain not detected with a standard EKG. • The Holter/remote EKG monitoring market is valued at 5–9 billion USD and growing at 7–10% CAGR.3 1 Atrial fibrillation: epidemiology, screening and digital health. Lancet Regional Health. Linz. Et al. 2024 Feb 1;37:100786. doi.; 2 Atrial Fibrillation and Mechanisms of Stroke. AHA, Volume 47, Number 3; 3 Multiple sources: Grand View Research, MarketResearch.com, Precedence Research 41
Page 42
Patient Pathway – Remote EKG 42 © Bittium 2025 | Medical Embedded wireless devicesDefense sector growthContinuous technology development Patient with symptoms receives a referral to remote EKG/Holter monitoring. Device placed on patient either at healthcare clinic or sent home. EKG measured at home for a period ranging from 24h to one month. Device taken back to healthcare professional for data analysis. Patient receives a report/diagnosis and instructions on further referrals. CMD 2025 | Medical
Page 43
Sleep © Bittium 2025 | Medical43
Page 44
CMD 2025 | Medical Sleep Apnea T ypes © Bittium 2025 | Medical There are three main types of sleep apnea, classified by what causes the breathing pauses during sleep: 1. Obstructive Sleep Apnea (OSA) Most common, representing 80–90% of cases and caused by the airway collapsing or becoming blocked during sleep. 2. Central Sleep Apnea (CSA) Much less common. Caused by the brain failing to send proper signals to the breathing muscles. 3. Complex (Mixed) Sleep Apnea A combination of OSA and CSA. HSAT market size8-9 CAGR8-9 Sleep apnea prevalence is very high4-7 • 9–13% of general adult population • 30–60% of adults over 60–65 years • 50–70% of obese adults (BMI >30) • 936 million diagnosed sufferers ~10–17% USD 2.9 billion 4 Benjafield AV, et al. Lancet Respir Med. 2019. Estimation of the global prevalence and burden of obstructive sleep apnea: a literature-based analysis.; 5 Young T, et al. N Engl J Med. 1993 (Wisconsin Sleep Cohort, classic study); 6 Peppard PE, et al. Am J Epidemiol. 2013 (updated Wisconsin Sleep Cohort, reflecting obesity trends); 7 Senaratna CV, et al. Sleep Med Rev. 2017 (systematic review & meta-analysis); 8 https://www.zionmarketresearch.com/report/home-sleep-screening-devices-market; 9 https://www.zionmarketresearch.com/report/home-sleep- screening-devices-market 44
Page 45
Type 2 HSAT Type 3 HSAT Sleep Apnea Detection © Bittium 2025 | Medical Type 4 HSAT CMD 2025 | Medical 45 1. Polysomnography (PSG): Gold standard, in-lab overnight study recording EEG, EMG, EKG, respiratory effort, airflow, and SpO₂. 2. Home Sleep Apnea Test (HSAT): Portable home device assessing airflow, respiratory effort, oxygen saturation, ±heart rate. 3. Screening Tools: Questionnaires (Epworth, STOP-BANG, Berlin) and clinical exam (BMI, neck circumference, airway) to stratify risk and guide referral. Sleep Apnea Diagnostics:
Page 46
Patient Pathway – Home Sleep Apnea Test (HSAT) © Bittium 2025 | Medical46 Embedded wireless devices Patient with symptoms gets a referral to a HSAT. Device placed on patient either at healthcare clinic or sent home. HSAT measurement done at home for 1–2 nights. Device sent/taken back to healthcare professional and data analyzed. If mild-to-moderate OSA, patient gets referral to treatment. In central, mixed or unclear result, referral to PSG. CMD 2025 | Medical
Page 47
© Bittium 2025 | Medical Bittium’s Medical Business builds on 40 years of expertise and the world’s most reliable biosignal measuring. Technology 40 years of developing superior biosignal measurement devices Credibility 300+ peer-reviewed clinical articles and 600.000+ devices sold globally Partnerships / Global Reach Collaborations with Boston Scientific and major European cardiac service providers Ecosystem Network Expertise in biosignal quality, materials, and electrode technology Synergistic Segments Cardiac and HSAT segments share clinical pathways and product features CMD 2025 | Medical 47 OurStrengths
Page 48
© Bittium 2025 | Medical • Potential BrainStatus US entry (long-term) Bittium BrainStatus Wireless EEG Amplifier Neuro • Market analysis for continuous EEG in the USA • NeurOne cooperation discussion Product development, short term • Next generation, innovative remote EKG device (medium-term) Bittium Faros Among the top-3 remote EKG monitoring devices globally, reference leader in signal quality Cardiac • Upgraded Faros for Boston and for OUS • Innovative patch technology • Cooperation in analytics Product development, medium/long term StrongCardiacBusiness –HighGrowthPotentialin Sleep CMD 2025 | Medical 48 • Respiro FDA clearance and related product update (medium-term) • Updates to Respiro accessories • Updates to Respiro analytics Bittium Respiro Home Sleep Apnea Testing (HSAT) Solution Sleep
Page 49
CMD 2025 | Medical © Bittium 2025 | Medical 32 4 Sales channel focus on strategic partnerships. Expand US market presence to other segments in addition to EKG monitoring. 1 Strengthen our position in the remote EKG monitoring market with new product innovations (core market). Expand global market reach for our (HSAT) product portfolio with partnerships. 49 Re-focusingBusiness for FutureGrowth
Page 50
CMD 2025 | Medical Summary © Bittium 2025 | Medical 50 • Focusing on EKG and HSAT business areas in this strategy period and concentrating our resources to enable profitable global expansion. • Building on excellent technology by strengthening commercialization and partnerships. • Exploring opportunities to strengthen SW and AI for analytics. • Strengthening clinical validation for market access. • Market research on the US market in the continuous EEG monitoring domain – long-term growth possibility.
Page 51
Q&A
Page 52
Leveraging on Strong Defense and Security Market Growth T ommi Kangas Senior Vice President, Defense & Security Business Segment Defense & Security
Page 53
© Bittium 2025 | Defense & Security53 Our comprehensive solutions ensure the resilience and security needed to modernize critical defense and communication capabilities. We are ready for global competition.
Page 54
Defense & Security © Bittium 2025 | Defense & Security54 Net sales 51.6 Defense & Security in Brief We deliver next-generation products and solutions for tactical and secure communications. We bring broadband data and voice to troops in the battlefield, as well as ultra-secure mobile devices and solutions to government and public authorities. Bittium TACWIN used in 5 Operating result 8.6 in 2024 M€ NPS score 48 in 2024 Employees 233 M€ in 2024 in 2024 R&D investments 12 % of net salescountries CMD 2025 | Defense & Security 75K users Tough Mobile
Page 55
Bittium name registered CMD 2025 | Defense & Security Defense & Security Development Highlights © Bittium 2025 | Defense & Security55 2015 2016 2017 Framework agreement with FDF TAC WIN products Launch of Tough SDR radios LOI: Tough SDR radios for FDF for ~130m€ 2018 Tough SDR purchase agreement with FDF for ~10.5m€ including opportunity for ~207 m€ Framework agreement with FDF Tough Comnode for ~8 m€ 2019-2020 Framework agreement with FDF TAC WIN ~30 m€ 2021-2022 Mexsat development start Estonia as new defense customer Tough SDR deliveries to FDF start Tough Mobile 2 launched 2023-2024 2025 Partnership agreement with FDF Tough SDR serial deliveries start Tough Mobile 3 launched Framework agreement with FDF TAC WIN and Comnode ~52 m€ MexSat deliveries start Austria as new defense customer NATO adopts ESSOR waveform as interoperability standard Croatia as new defense customer BAE Systems Cooperation Lockheed Martin cooperation 2014 Tough Mobile smartphone launched Indra Group Letter of Intent on strategic cooperation to develop an SDR solution European country as new defense customer Cooperation since 1998 Tough Mobile 2 NATO R 2009 Development of ESSOR as the pan- European waveform starts
Page 56
Financial Development © Bittium 2025 | Defense & Security56 CMD 2025 | Defense & Security Defense & Security Medical Engineering 61% Defense & Security Medical Engineering Services -5 5 15 25 35 45 55 2023 2024 Net Sales Operating Profit Share of Bittium’s Net Sales in 2024Net Sales and Operating Profit, MEUR +42.3% y-on-y
Page 57
CMD 2025 | Defense & Security Growth Drivers © Bittium 2025 | Defense & Security57 Increasing geopolitical tensions NATO countries increasing defense funds Need for air defense modernization 5G/6G/satellite hybrid networking 6G Digitalization of command-and-control systems More demand for mobility and data throughput Automation, AI, unmanned platforms Cybersecurity threats, quantum computing
Page 58
© Bittium 2025 | Defense & Security58 • Demand is driven by continued growth of the defense market due to increased defense funds. • National radio demand through partnering. • 5G to complement tactical networks where suitable and safe to use. Strong Market Outlook CMD 2025 | Defense & Security
Page 59
Defense
Page 60
Next-Generation Solutions © Bittium 2025 | Defense & Security60 Bittium Tactical Wireless IP Network Mobile broadband IP backbone network CMD 2025 | Defense & Security Bittium Tough SDR product family Next-generation tactical radios for vehicles, and dismounted soldiers Bittium Tough VoIP product family VoIP terminals, services and routing for resilient voice Tactical Waveforms Wideband and narrowband waveforms at the core of the high performance of the communications systems Tactical Management Easy and intuitive deployment and management with tactical network and device management systems Tactical 5G Solutions Secure mobile communications seamlessly integrated with tactical communications networks Life Cycle Services for Tactical Communications
Page 61
Life Cycle Services © Bittium 2025 | Defense & Security61 CMD 2025 | Defense & Security Training Spare part stock Localized service capability Hardware life cycle support Technical support Software life cycle support Preventive maintenance Product disposal Repair services Training On-site support Extended warranty Factory acceptance testing Obsolescense management In-service Support End of life Support Additional services based on customer requirements Available based on a separate support & maintenance contract and annual charging model Support Establishment Product life cycle
Page 62
5 5 1 1 6 6 7 7 4 4 Battlegroup wireless backbone Artillery Navy GBAD4G/5G interoperability 8 Legacy interoperability Dismounted soldier awareness Coalition communications 2 2 3 3 9 SATCOM
Page 63
CMD 2025 | Defense & Security OurStrengths © Bittium 2025 | Defense & Security63 Entire system offering Ability to provide the entire tactical communication system and lifecycle services CUSTOMER VALIDATED offering Tested with FDF in Finland´s demanding environment Most modern products Tactical communication radios, TACWIN, Tough VoIP and Tough SDR, Tactical Management Multiple waveforms available ESSOR WF, TACWIN, NB implemented and available for customers, and capability to add new waveforms Delivery capability Faster delivery times than market standard and scaled up operations
Page 64
CMD 2025 | Defense & Security AcceleratingInternational Growth © Bittium 2025 | Defense & Security64 1 2 3 Sharpened market focus Utilizing the operational directions of defense alliances 4 4 Pillars of the Growth Strategy T echnological forerunner Strengthening software/AI capabilities and offering Accelerating international sales and developing strategic partnerships for growth Expanding to new markets and verticals Exploring inorganic growth opportunities
Page 65
CMD 2025 | Defense & Security AcceleratingInternational Growth © Bittium 2025 | Defense & Security65 1 Radio as a Core – SW as an Enabler for International Growth • Continuous agile feature development of SDR SW to enable competitiveness • Regular HW updates to maintain and improve HW competitive advantage • Continuously enhancing platform capabilities based on customer and market requirements • Futher enhancing Eletronic Warfare capabilities • Utilize AI for increased efficiency in development and for creating leading product differentiators • Bittium tactical network will be scaled up to hybrid networks (5G, SATCOM) T echnological forerunner- Strengthening software/AI capabilities and offering
Page 66
CMD 2025 | Defense & Security AcceleratingInternational Growth © Bittium 2025 | Defense & Security66 Developing strategic partnerships for growth • Increase international sales capabilities • Countries have different needs for business models based on their sovereignty requirements • Adapt to the customer country's customized winning concept • Offer localized life-cycle services • Strengthen Bittium’s role as global provider of tactical communication solutions 2 Accelerating international sales and developing strategic partnerships for growth
Page 67
CMD 2025 | Defense & Security Sales Channels © Bittium 2025 | Defense & Security67 Sales channels: Direct in Finland, local integrators & system providers elsewhere Sales channels: Local integrators & system providers Sales channels: Local integrators & system providers NATO & North operational direction European countries Individual attractive large countries Tactical product portfolio Cooperation with Global System Suppliers
Page 68
CMD 2025 | Defense & SecurityBusiness AcceleratingInternational Growth © Bittium 2025 | Defense & Security68 Expanding to new markets and verticals - MarshallAI as a first step • End customers are looking for complete solutions • Bittium target is to empower C6ISTAR communication, end-customer use cases as a basis • Acquire know-how to use AI for speeding-up agility to respond to changing warfare needs • Develop new features with AI supported methods • Implement AI to tactical communications products as a part of system to improve Eletronic Warfare capabilities • Grow and maintain AI know-how 3 Expanding to new markets and verticals – Exploring inorganic growth opportunities
Page 69
CMD 2025 | Defense & SecurityBusiness AcceleratingInternational Growth © Bittium 2025 | Defense & Security69 Sharpened Market Focus • Countries and defense alliances co-operational and regional interests as a basis. • Targeting alliances with common synergies and solutions (e.g. NATO, JEF, NORDEFCO) • Three main areas are NATO & North direction, Europe and Individual attractive large countries • Finnish Defense forces as a reference and support in internationalization • Command and control systems and modernization plans monitored in the target countries 4 Sharpened market focus Utilizing the operational directions of defense alliances
Page 70
Security
Page 71
Product and Service Offering © Bittium 2025 | Defense & Security71 CMD 2025 | Defense & Security Current strategy Device with Security SW New strategy Comprehensive Security Solutions provider with a software focus, complemented with devices SafeMove Mobile VPN SafeMove MDM / EMM Mobile Application Management (MAM) Bittium Secure Call SafeMove Analytics Bittium Secure OS / Dual Boot TM2 TM3 MIL RadioHybrid Network Multi-channel routeriOS WindowsAndroid
Page 72
© Bittium 2025 | Defense & Security72 Bittium Tough Mobile 3 CMD 2025 | Defense & Security The most secure phone in the market Product introduction • 5G smart phone based on AndroidTM • Featuring Bittium’s quantum-safe security technology and applications • EU R&D and manufacturing • Designed for EU and NATO certifications • Deliveries of the phones will begin during 2026 • Current solutions certified and used by over 50 organizations across the globe HMD Secure manufactures the device hardware Bittium integrates and finalizes the phone with Bittium’s software
Page 73
CMD 2025 | Defense & Security Sales Channels © Bittium 2025 | Defense & Security73 Bittium Tough Mobile 3 Three phone variants for different security levels Certified solution together with Secure Suite Bittium Secure Suite Device management and encryption software Bittium Secure Call End-to-end encrypted communications Direct Sales Local resellers Channels Targeted customer types Software-only customers Governmental customers Technology integrators
Page 74
CMD 2025 | Defense & Security OurStrengths © Bittium 2025 | Defense & Security74 European vendor from NATO member country Quantum safe products Security has a strong existing customer base and a deep knowledge of the market and its requirements. Most modern products available for sales New Secure mobile device TM3 with 5G, secure SW offering Device Firmware / OS security Dual-boot, Bittium Secure OS, multi- container Government level VPN & comms solutions Secure solutions such as TL3, NATO-R
Page 75
CMD 2025 | Defense & Security Comprehensive Security Solutions Complemented with Devices © Bittium 2025 | Defense & Security75 Accelerate international salesSecurity SW as Core New Tough Mobile 3 • Will be deployed to other commercial HW platforms • End customers have several different devices and operating systems in use, we offer them common SW solution for multiple HW platforms • Current Secure Suite offering will seamlessly transition to Tough Mobile 3 • SW solutions support customers commercial off-the-shelf devices (Android, iOS, Windows) • Complete solution for ultra secure communications • Strategic Partnership with HMD Secure Oy announced in DSEI London • Bittium is the first to launch ultra secure device on new HMD platform • HMD´s own tactical device will have Bittium technology inside - hardened Android and device security features • Supply chain and manufacturing in Europe • Expand addressable market • More secure communications specialized resellers to expand customer reach • SW licensing and applications sales to • 3rd party/OEM HW platforms and products • Defense applications
Page 76
© Bittium 2025 | Defense & Security76 1. Further strengthening the technology and market leadership position in Defense and Security. 2. Building tactical networks as a core and standard in the defense sector on top of which additional complementary solutions can be integrated on (AI, 5G, SATCOM). 3. Accelerating international sales, developing strategic partnerships and seeking inorganic growth to increase market share. 4. Transformation from Device with SW to Comprehensive Security Solutions with a SW focus, complemented with devices, Tough Mobile 3 as new complete solution for ultra secure segment. 5. Defense market focus on the alliance's operational direction as well as selected countries. Security to have more specialized resellers to expand customer reach. Summary CMD 2025 | Defense & Security
Page 77
Q&A
Page 78
Summary & Closing
Page 79
TACTICAL AND SECURITY ENGINEERING SERVICESMEDICAL 79 © Bittium 2025 W e are Committed to Building a Sustainable, Safer and Healthier Future. • Bittium is in a strong position to accelerate international growth. • Markets and strong balance sheet support both organic and inorganic growth opportunities. • All segments are positioned for growth based on updated strategy. • Investments will focus on scaling our business, developing new opportunities and international sales channel. • With all the opportunities for growth, the net sales are expected to grow clearly faster and operating profit to improve.
Page 80
Bittium Corporation | Outlook 2025 Financial Outlook 2025 © Bittium 2025 80 Net sales 2025 95-105 MEUR (EUR 85.2 million in 2024) More Information More information about Bittium’s market outlook is presented on the company's internet pages at www.bittium.com Operating result 2025 10-13 MEUR (EUR 8.6 million in 2024)
Page 81
New Long-T ermFinancial T argets © Bittium 2025 81 Net sales growth 20-30 % The net sales are expected to grow clearly faster and operating profit to improve. Operating profit level 10-20 % Bittium CMD 2025 | Strategy update Previously Bittium aimed at an average annual net sales growth of more than 10% and an operating profit level of more than 10%. * Growth expects also inorganic growth.
Page 82
Bittium CMD 2025 | StrategyUpdate © Bittium 2025 82 Bittium’s Dividend Policy Bittium Corporation follows a dividend policy that takes into account: net income, financial situation, need for capital and financing of growth.
Page 83
Bittium CMD 2025 | Strategy Update InvestorCalendar2025 © Bittium 2025 83 Q1/2025 Q2/2025 Q3/2025 Q4/2025 AGM 7.5.2025 1Q 2025 29.4.2025 3Q 2025 24.10.2025 CMD 23.9.2025 2Q 2025 8.8.2025
Page 84
Q&A