Slides
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BUSINESS REVIEW Q3 2026 CEO OTTO-PEKKA HUHTALA AND CFO MATTI EILONEN 29 OCTOBER 2026
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Content ▪ Q3 highlights ▪ Strategy and growth ▪ Figures for Q3 2026 ▪ Guidance for 2026 ▪ Investment highlights
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82 543 Q3/2025 Q3/2026 Q3/2026: Rapid expansion of the partner network is starting to generate growth Number of company clients (thousand) +11.4% Number of partner accounting offices +562.2% Net sales growth (EUR million) 13.8 15.4 Q3/2025 Q3/2026 5.0 5.4 Q3/2025 Q3/2026 +8.5%
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Strategy and growth
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Easor leads accounting offices into the AI era AI handles the routines and every successful partner accounting office brings in new entrepreneur customers. 1 The accounting office becomes more efficient AI and automation handle the routines, giving accountants time for clients and new customers. → 2 The accounting office brings in more customers A satisfied partner acquires new customers and migrates them to Easor. → 3 The benefits grow and Easor wins Each new customer strengthens the benefit for the partner, and the model is replicated from one country to another.
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Growth comes from new customer acquisition Number of company clients* Number of partner accounting offices Growth in the number of company clients supports short-term and mid-term growth. Growth in the number of partner accounting offices supports mid-term and longer-term growth. 0 2 000 4 000 6 000 8 000 10 000 12 000 14 000 16 000 18 000 Q1/2025 Q2/2025 Q3/2025 Q4/2025 Q1/2026 Q2/2026 Q3/2026 Company clients, Finland Company clients, International 0 100 200 300 400 500 600 Finland International * Client numbers are now reported based only on charged customers. Reporting the number of company clients that are not charged has been discontinued. The number of clients for the quarter is calculated as the average of clients invoiced monthly. International clients from previous periods that began being charged at the beginning of 2026 have been counted as charged clients for all periods to facilitate comparability.
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Strategic priorities for 2026 • We succeeded in growing the network of partner accounting offices in all operating countries and supported the broader use of Easor among accounting offices’ customer base. • The estimated implementation of Verifactu has been postponed to October 2028 (previously in phases during 2027). Currently, the partner accounting offices are gained based on the efficiency gains provided by Easor. We estimate that the implementation of Verifactu will further accelerate growth. • We have continued developing software interfaces to facilitate the integration of customers and partners into our ecosystem. 01. Growth
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Strategic priorities for 2026 • We initiated the Easor AI pilot with selected partner accounting offices and company clients. In the pilot, partners and customers are able to access AI tools via interfaces, and we help them build agents. The aim is to introduce agent-based AI features to our platform. • We started piloting next-generation posting automation in Finland to further increase the automation rate. Easor's software has utilized artificial intelligence and machine learning in accounting processes since 2016. The automation rate for all material in Easor's accounting software currently stands at approximately 80%, which reflects the results of our long-term development work. 02. AI
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Figures for Q3 2026
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Comparable net sales development Comparable net sales Q3 2026 (EUR million) • The growth originated in Finland and Spain. The number of customers increased due to a broader distribution channel network. • Software fees were initiated in Spain in the beginning of the year. • The partner accounting office network developed well. • New customer accounts in the broader distribution channel network supported growth. +7.2% Comparable net sales 1-9/2026 (EUR million) 5.0 5.4 0 2 4 6 7-9/2025 7-9/2026 15.3 16.4 0 4 8 12 16 1-9/2025 1-9/2026 +8.5%
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11.2 9.0 0 2 4 6 8 10 12 1-9/2025 1-9/2026 Comparable EBITDA development Comparable EBITDA Q3 2026 (EUR million) • Comparable profitability decreased as planned due to costs associated with accelerating growth and increased costs as an independent listed company. Comparable EBITDA 1-9/2026 (EUR million) 3.7 2.9 0 1 2 3 4 7-9/2025 7-9/2026 -19.5% 73.9% 53.3% 73.2% 55.0% -21.7%
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Comparable EBIT development Comparable EBIT Q3 2026 (EUR million) • Comparable profitability decreased as planned due to costs associated with accelerating growth and increased costs as an independent listed company. • Comparable operating profit was weighed down by higher depreciation resulting from a higher investment level than before. Comparable EBIT 1-9/2026 (EUR million) -81.7% 0.9 0.1 0 0,2 0,4 0,6 0,8 1 7-9/2025 7-9/2026 17.6% 1.0% -93.7% 3.0 0.6 0 1 2 3 1-9/2025 1-9/2026 19.9% 3.4%
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Investments development Total net investments Q3 2026 (EUR million) • The company invests the cash flow released by the decrease in investments into growth investments. • Technology investments focused on developing customer interfaces, further developing automation, and expanding platform services. -7.8% 2.2 1.9 0 1 2 3 7-9/2025 7-9/2026 Total net investments 1-9/2026 (EUR million) -11.9% 7.4 6.8 0 2 4 6 8 1-9/2025 1-9/2026
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Easor financial guidance for the year 2026 Guidance (unchanged, published December 16, 2025) • The net sales are estimated to increase by 3–10% compared to the carve-out based net sales in year 2025 • The operating profit margin is expected to decrease due to the building of distribution channels and growth investments. These measures lay the foundation for long-term growth. The operating profit margin is also weakened by the costs of operating as a standalone listed company Background for the guidance (highlights) • Easor has a strong contract base in Finland • Growth is driven by partner network and their new customers in all functional countries • Upselling of current customers supports growth
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Investment highlights
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Why invest in Easor? 1 2 3 4 Strong player in financial management digitalization • A long track record of digitalizing financial management in the Nordics • Deep expertise to accelerate digitalization in European markets Readiness for scalable growth • Easor already operates in several European countries • Big investments and architectural renewal completed High recurring revenue creates stable cash flow • Reduces the risk level of the business Targeting over 20% annual revenue growth rate • Medium-term goal (2-4 years) through organic sales
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Welcome to Easor’s strategy review Friday, 30 October 2026 at 10:00 am EET Easor's CEO Otto-Pekka Huhtala and other members of the Executive Board will present the company's business, operating environment, and strategy. Follow the webcast events.inderes.com/easor/strategiakatsaus Questions can be asked during the event or in advance via the registration page. The event will be held in Finnish. Live captioning and AI -generated simultaneous interpretation into English and Swedish will be available. The presentation material and recording will be published on Easor's investor website after the event https://investors.easor.com/en
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Thank You