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team internet. Powering identity and discovery online. H1 2026 Interim Results 7 September 2026
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DISCLAIMER This presentation has been prepared by Team Internet Group plc (“the Company”) in connection with its H1 2026 results (the “I nvestor Update”). The information set out in this presentation is not intended to form the basis of any contract. By attending ( whether in person, by telephone or webcast) this presentation or by reading the presentation slides, you agree to the conditions set out below. This presentation (including a ny oral briefing and any question-and-answer session in connection with it) is for information only. The presentation is not intend ed to, and does not constitute, represent or form part of any offer, invitation, inducement or solicitation of any offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction. It must not be acted on o r relied on in connection with any contract or commitment whatsoever. It does not constitute a recommendation regarding any securities. Nothing herein should be construed as financial , legal, tax, accounting, actuarial or other specialist advice. No shares are being offered to the public by means of this presentation. You should conduct your own independent analysis of the Company and the Investor Update, including consulting your own independent advisers in order to make an independent determina tion of the suitability, merits and consequences of the Investor Update. The release, presentation, publication or distribution of this presentation in jurisdict ions other than the United Kingdom may be restricted by law and therefore any persons who are subject to the laws of any jurisdi ction other than the United Kingdom should inform themselves about and observe any applicable requirements. It is your responsibility to satisfy yourself as to the full observ ance of any relevant laws and regulatory requirements. 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The Company has not independently verified the market d ata or other information ( i) contained in third-party sources or (ii) on which such third -party sources are based, nor does the Company make any representa tion or give any warranty as to the accuracy or completeness of such information. The information from third -party sources that is cited here has been reproduced accurately. This presentation, along with any oral statements made in connection therewith, contains “forward -looking statements” including within the meaning of the US Private Securities Litigation Reform Act of 1995 with respect to the Company’s financial conditi on, results of operations and businesses, including, but not limited to, the Company’s plans and objectives, which are subject to risks and uncertainties because they relate to f uture events. All statements other than statements of historical fact are, or may be deemed to be, forward -looking statements. 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No assurances can be given that the forward -looking statements in or made in connection with this presentation will be realised. Any forward-looking statements are made as of the date of this presentation. The Company does not undertake any obligation to release publicly any revisions to any information (including forward -looking statements) to reflect events and circumstances aft er the date of this presentation, or to reflect the occurrence of unanticipated events, except as may be required under applicable laws and regul ations. None of the Company or its shareholders, subsidiaries, affiliates, associates, or their respective directors, officers, partn ers, employees, representatives and advisers (the “Relevant Parties”) makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained in this presentation, or otherwise made available, nor as to the reasonableness of any assumption contained in such information, and any liability therefor (including in respect of direct, indirect, consequential loss or damage) is expressly d isclaimed. No information contained herein or otherwise made available is, or shall be relied upon as, a promise, warranty or representation, whether as to the past or the future an d no reliance, in whole or in part, should be placed on the fairness, accuracy, completeness or correctness of such information. None of the Relevant Parties has independently verified the material in this presentation. 1
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team internet. 01 What we said, what we delivered 02 H1 2026 results, by segment 03 Balance sheet and financing 04 Strategic review and value 05 Outlook 2
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D E L I V E R Y What we said, what we delivered W H A T W E S A I D W H A T W E D E L I V E R E D H1 2026 trading in line with consensus Trading update, Jun 2026 Delivered: in line with consensus, EBITDA ahead of H2 2025, and Group operating profit back in the black Build Comparison into a second earnings pillar of the Group FY 2025 results and AGM, Jun – Jul 2026 Delivered: net revenue +33%, adjusted EBITDA +56%; GMV outside DACH 5.2%; new conversion funnels opened a substantial new acquisition channel Complete the Search transition and return it to profitability Guided through 2025; FY 2025 results, Jun 2026 Delivered: AFD wound down to negligible levels; profitable in June 2026 (real EBITDA); RSOC detail provided at these results Strengthen the balance sheet Committed through FY 2025 reporting Jun 2026 Delivered: facilities amended, covenant headroom materially widened, volume rightsized; full refinancing advancing Net debt to reduce significantly over the second half Trading update, Jul 2026 Reaffirmed: year-end net debt to be broadly in line with market consensus Strategic review outcome within 2026 Guidance since Nov 2025 Update given at these results: Strategic review is at an advanced stage, with discussions ongoing with a view to reaching a transaction in the near term, while the Board remains engaged with multiple parties interested in all or parts of the division. Source(s): Company announcements and investor presentations, June – July 2026. 3
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H 1 2 0 2 6 F I N A N C I A L R E S U L T S In line with consensus, ahead of H2 2025, with a step-up in quality of earnings G R O S S R E V E N U E $179.1m H1 2025: $263.9m (-32%) · decline reflects the completed Search transition N E T R E V E N U E $61.0m H1 2025: $72.8m (-16%) · Gross margin 34.1% (H1 2025: 27.6%) A D J U S T E D E B I T D A ¹ $19.5m H1 2025: $24.6m (-21%) · H2 2025: $18.1m (+8%) O P E R A T I N G P R O F I T $3.0m First half-year operating profit since H1 2024: H1 2025: $(7.0)m · H2 2025: $(42.9)m N E T D E B T ² $117.6m 31 Dec 2025: $87.6m (+34%) · YE 2026 consensus: $93.8m⁴ A D J U S T E D E P S ³ ¢3.24 H1 2025: ¢5.93 (-45%) · P/E 6.7x on FY 2026 consensus adj. EPS Notes: (1) Earnings before interest, tax, depreciation, amortisation and impairment, non-core operating expenses, foreign exchange gains and losses, and share-based payment expenses. (2) Includes cash, bank debt and prepaid finance costs. (3) Diluted adjusted EPS; P/E based on analyst consensus FY 2026 basic adjusted EPS of ¢8.54 and TIG share price as of 4 September 2026 (Zeus, Berenberg, Edison, Cantor). (4) Analyst net debt consensus as of 4 September 2026; before the impact of any transaction resulting from the strategic review. 4
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H 1 2 0 2 6 F I N A N C I A L R E S U L T S 87% of net revenue sits in DIS and Comparison, and both are growing; Search profitable in June Domains, Identity & Software 67% of net revenue Gross revenue $97.9m H1 2025: $103.9m (-6%) · H2 2025: $90.7m (+8%) Net revenue $40.8m H1 2025: $37.9m (+8%) · H2 2025: $37.7m (+8%) Adjusted EBITDA $13.7m H1 2025: $10.7m (+28%) · H2 2025: $10.7m (+28%) Comparison 20% of net revenue Gross revenue $32.9m H1 2025: $27.9m (+18%) · H2 2025: $37.4m (-12%) Net revenue $12.4m H1 2025: $9.0m (+38%) · H2 2025: $11.8m (+5%) Adjusted EBITDA $8.4m H1 2025: $5.4m (+56%) · H2 2025: $6.9m (+22%) Search 13% of net revenue Gross revenue $48.3m H1 2025: $132.1m (-63%) · H2 2025: $89.9m (-46%) Net revenue $7.8m H1 2025: $25.9m (-70%) · H2 2025: $13.9m (-44%) Adjusted EBITDA $(2.6)m Profitable in June 2026; H2 2025: $0.5m Source(s): H1 2026 interim report; Growth rates are year-on-year and versus H2 2025 as indicated. 5
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H 1 2 0 2 6 F I N A N C I A L R E S U L T S / D I S DIS keeps compounding: value discipline with time on our side N E T R E V E N U E G R O W T H +8% H1 2026 vs H1 2025 and vs H2 2025 A D J U S T E D E B I T D A G R O W T H +28% vs both 2025 halves; margin 34% of net revenue V A L U E- A D D E D S E R V I C E S S H A R E 18.9% of revenue; H1 2025: 17.1% • Volume traded for quality, deliberately: LTM domain years -6% while adjusted EBITDA rose 28%, as lower-margin relationships were actively optimised. • Growing value-added services: registry, SSL, trustee and software services contribute an increasing share of revenue and profitability. • Scale that anchors fair value: one of the world’s leading registry platforms, supporting more than half of the top twenty newTLDs; 17k channel partners reaching 7M+ SMEs; only ~3% of customers change suppliers each year. • A growing asset needs no discount for urgency: DIS’s momentum under our ownership supports the Board in concluding the review at fair value. Source(s): H1 2026 trading update; interim results presentation KPIs (LTM domain years 12.1m, -6%; segment analysis coverage per interim report notes). 6
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H 1 2 0 2 6 F I N A N C I A L R E S U L T S / C O M P A R I S O N Comparison: the second earnings pillar, compounding internationally N E T R E V E N U E G R O W T H +38% H1 2026: $12.4m net revenue; gross revenue +18% to $32.9m A D J U S T E D E B I T D A G R O W T H +56% H1 2026: $8.4m, at 68% of net revenue G M V O U T S I D E D A C H 5.2% H1 2025: 5.0%; FY 2024: 0.4% • Paid on completed purchases at the e-commerce partner, not per click and not per impression: we take conversion risk and are rewarded for it. • From German market leadership to a multi-market platform: France a meaningful contributor; Italy, Spain and the UK maturing; dedicated brand per market. • New acquisition surface: new conversion funnels engage currently untapped demand, opening a substantial acquisition channel alongside classical search. • The endgame of online discovery: we take all the conversion risk and are paid only on completed purchases. For e-commerce partners it does not get better than that; doing it is hard, few can, and we lead the largest European market. Whichever channel discovery starts in, classical search, social or, should they scale, AI ad formats, we buy intent on the same economics; we serve it with pre-built AI comparison pages that are faster, cheaper and more reliable thanlive generation. Source(s): H1 2026 trading update; interim results presentation KPIs (segment analysis coverage per interim report notes). 7
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H 1 2 0 2 6 F I N A N C I A L R E S U L T S / S E A R C H Search: transition complete, profitable in June, margin maturity ahead N E X T - G E N M O N E T I S A T I O N S H A R E 90.1% of segment revenue; H1 2025: 23.7% R E T U R N E D T O P R O F I T A B I L I T Y June 2026 Real EBITDA, not gross profit; H1 2026: $(2.6)m after the transition; positioned for a profitable H2 Y E A R S O F J O U R N E Y O P T I M I S A T I O N 1+ vs 9 RSOC today vs AFD at exit: the margin gap is an age gap • The move away from AFD to next-generation monetisation is complete; legacy AFD revenue is negligible in H1 2026, and nil in H2 2026 to date. • RSOC revenues are already in line with what the business generated with AFD at the point of takeover in December 2019. • Industry consolidation and competitor retrenchment have strengthened the position in RSOC. • Profitability, not traffic, is the management metric from H2 2026: yield management, automation and mix drive gradual improvement as our models mature, though progress may not be linear Source(s): H1 2026 trading update; interim results presentation KPIs; RSOC-vs-2019 claim made publicly at the June 2026 IMC presentation. 8
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team internet. 03 Balance sheet and financing Cash flow, net debt, leverage and the refinancing 9
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H 1 2 0 2 6 F I N A N C I A L R E S U L T S Cash flow: strong underlying generation, two non-recurring offsets ($, m) H1 2026 H1 2025 Cash (outflow)/inflow from operations (3.1) 19.7 Income tax paid (14.8) (3.0) Net cash from operating activities (17.9) 16.7 Net cash outflow from investing activities (4.2) (3.1) Net cash outflow from financing activities¹ (6.1) (32.6) Net decrease in cash (28.2) (19.0) Exchange differences on cash (1.0) 7.3 Cash and cash equivalents at period end 52.0 76.6 Continued strong underlying cash generation, partially offset in the period by non-recurring factors: • the scheduled settlement of corporation tax on prior- year profits (FY 2022 and FY 2023), against which cash reserves had been held; and • the non-renewal of a registry contract, which reduced associated working capital financing with minimal impact on future profitability. Neither reflects any increase in borrowings (see net debt slide). Notes: Condensed from the consolidated statement of cash flows, H1 2026 interim report. (1) H1 2025 financing outflow includes USD 6.9m of share repurchases and USD 16.8m net RCF repayment. 10
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H 1 2 0 2 6 F I N A N C I A L R E S U L T S Net debt: planned cash deployment, not new borrowing 87.6 FY 2025 +14.8 Corporation tax re FY 2022/FY 2023¹ +15.2 Registry partner WC and other, net² 117.6 H1 2026 ~93.8 YE 2026 consensus³ $m • Cash was deployed to reduce current liabilities: gross interest- bearing debt rose just 1%. • Corporation tax on prior-year profits settled as scheduled; cash reserves had been held against it. • Non-renewal of a registry contract reduced associated working-capital financing, with minimal impact on future profitability. • The Board expects net debt to reduce significantly in H2 and to be broadly in line with market consensus at year end. Notes: (1) Corporation tax payments of USD 14.8m in respect of profit years FY 2022 and FY 2023, against which cash reserves had been held. (2) Residual of the USD 30.0m increase, shown net: includes the working capital impact of a departing registry partner together with other movements. Registrar prepayments are pooled across registry customers, so the standaloneimpact of a single departing partner cannot be precisely isolated. (3) Analyst net debt consensus as of 4 September 2026 for FY ending 31 December 2026: USD 93.8m (range USD 83.0m–102.0m); before the impact of any transaction resulting from the strategic review. 11
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H 1 2 0 2 6 F I N A N C I A L R E S U L T S Two leverage lenses: reported basis and covenant basis R E P O R T E D ( I F R S ) B A S I S Net debt, 30 Jun 2026 $117.6m LTM adjusted EBITDA (H2 25 + H1 26) $37.6m Net debt / LTM adjusted EBITDA 3.1x Consensus implies ~2.1x at year end (net debt $93.8m / FY26 adjusted EBITDA $45.7m): on market numbers, the ratio falls by a third in six months. C O V E N A N T ( F A C I L I T I E S ) B A S I S • Net debt includes items that are correctly off-balance sheet under IFRS, for example letters of credit. • EBITDA includes customary facility add-backs, for example rent capitalised under IFRS 16. • The covenant ratio is therefore not derivable from the reported figures alone; the Group discloses it directly. • The covenant ratio is therefore not derivable from the reported figures alone; the Group discloses it directly: 3.9x at 30 June 2026 (31 December 2025: 2.9x), within the amended covenants. • We will continue to enable the market to track both bases. Notes: LTM adjusted EBITDA computed from interim-report figures (H1 2026 $19.5m + H2 2025 $18.1m). Covenant-basis leverage per the H1 2026 interim report; basis per the facility definitions. Year-end figure on the reported lens is illustrative arithmetic on analyst consensus (net debt and adjusted EBITDA as of 4 September 2026), not guidance. The covenant basis principally treats rent as an operating expense rather than capitalising it under IFRS 16, reducing EBITDA, and includes guarantee-type items in net debt. 12
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F I N A N C I N G The balance sheet does not depend on a transaction Aligned maturities Facilities amended Wider covenant headroom Materially strengthened position Rightsized volume Aligned with current needs; unnecessary commitment cost removed Full refinancing advancing Discussions with fixed income investors active • Capital allocation prioritises liquidity preservation, deleveraging and selective high-return investment. • The amendments create headroom and time; the full refinancing is well advanced and still to complete. • USD 78.2m of liquidity at 30 June 2026: cash of USD 52.0m plus an undrawn RCF of USD 26.2m. • Net debt unwinds over H2 through trading and seasonality: the deleverage path does not require disposal proceeds. Source(s): FY 2025 results presentation (June 2026); liquidity per the going-concern note of the H1 2026 interim report. 13
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team internet. 04 Strategic review and value Maximising value per share, from a position of strength: the review, the damages claim, and the capital allocation sequence 14
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S T R A T E G I C R E V I E W Unlocking shareholder value from a position of strength • The strategic review is at an advanced stage, with discussions ongoing with a view to reaching a transaction in the near term, while the Board remains engaged with multiple parties interested in all or parts of the division. • If a transaction is agreed, it is still expected to complete around the year end, subject to customary conditions and regulatory approvals; there can be no certainty that any transaction will be agreed, or as to its terms. • DIS continues on its multi-year earnings growth trajectory throughout the process: a growing asset needs no discount for urgency. > USD 160m DIS disposal guidance: materially exceeding USD 160 million, reaffirmed G U I D A N C E A N D T I M I N G 11 Nov 2025 Guidance issued 24 Apr 2026 Reaffirmed 24 Jul 2026 Reaffirmed 7 Sep 2026 This update Source(s): RNS announcements of 11 November 2025, 24 April 2026, 15 June 2026 and 24 July 2026. 15
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A N T I T R U S T C L A I M A substantial damages claim, a further potential source of value Established competitive disadvantage Conduct and damage of interest established by final regulatory decisions. Recent court cases Courts in several jurisdictions have ruled favourably for claimants. Recovery process underway The Group is pursuing recovery of the value lost. Self- funded: assessed as economically superior to litigation funding given the final regulatory decision. A successful outcome could be material in the context of the Company’s current market capitalisation. Outcome, timing and amount remain uncertain, and no asset has been recognised. Independent value: the claims runs on its own track and would be additive to any outcome of the strategic review. 16
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C A P I T A L A L L O C A T I O N F R A M E W O R K A fixed sequence; quantum and timing set by the Board on completion 1 Retire debt Deleverage on completion of any transaction. An appropriate balance sheet precedes every other use of capital. 2 Return excess capital A distribution of excess capital following any disposal; method (tender offer, buyback or special dividend) determined by the Board at the time 3 Reinstate the dividend policy The 2022 policy was suspended for liquidity preservation, never cancelled. Reinstatement follows deleveraging. 4 Selective, adjacent M&A Only assets that fit tightly around Comparison and Search: diversification with discipline, later in the sequence. Principle: financial leverage will not again be allowed to constrain strategic flexibility. Distribution decisions follow delivery, in this order, on completion of the strategic review. Consistent with management commentary at the June 2026 Investor Meet Company presentation. No decision on quantum or timing has been taken; any distribution remains subject to Board approval and completion of the strategic review. 17
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O U T L O O K Navigating change, building for scale • Executing the 2026 business plan across the Group: DIS growing net revenue and EBITDA, Comparison broadening and growing strongly, Search operating profitably on a next-generation monetisation base since June. • The strategic review is at an advanced stage, with discussions ongoing with a view to reaching a transaction in the near term, while the Board remains engaged with multiple parties interested in all or parts of the division. The Board reaffirms its expectation of a valuationmaterially exceeding USD 160 million; any agreed transaction is expected to complete around the year end. There can be no certainty that a transaction will be agreed. • Net debt is expected to reduce significantly over the second half and be broadly in line with market consensus at year end. • Capital allocation remains focused on strengthening the balance sheet while investing selectively for attractive returns; future capital returns will be assessed against earnings visibility and strategic flexibility. • With the Group’s earnings traditionally weighted to the second half, the Board is confident of a stronger H2 and a return to year-on-year earnings growth in the second half of 2026. Interim results webinar: 7 September 2026, 10:00am UK (analysts) and 12:00pm UK (Investor Meet Company). Registration via SEC Newgate. Notes: FY 2026 analyst consensus as of 4 September 2026: revenue USD 405.3m (range USD 377.5m–474.0m), adjusted EBITDA USD 45.7m(range USD 44.9m–46.2m); Zeus, Berenberg, Edison, Cantor. Forward-looking statements qualified by the disclaimer on slide 2. 18
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Everything begins with a name. team internet.