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Company presentation 7 January 2026 CEO Espen Eldal
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Disclaimer This presentation has been produced by Europris ASA (the "Company") exclusively for information purposes. This Presentation has not been approved, reviewed or registered with any public authority or stock exchange. Further to the aforementioned, this presentation is the result of an effort of the Company to present certain information which the Company has deemed relevant in accessible format. This Presentation is not intended to contain an exhaustive overview of the Company's present or future financial condition and there are several other facts and circumstances relevant to the Company and its present and future financial condition that not been included in this Presentation. This Presentation may not be disclosed, in whole or in part, or summarized or otherwise reproduced, distributed or referred to, in whole or in part, without prior written consent of the Company. This Presentation contains certain forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which it operates or intends to operate. Forward-looking statements concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words "believes", expects", "predicts", "intends", "projects", "plans", "estimates", "aims", "foresees", "anticipates", "targets", and similar expressions. The forward-looking statements contained in this Presentation, including assumptions, opinions and views of the Company or cited from third party sources are solely opinions and forecasts which are subject to risks, uncertainties and other factors that may cause actual events to differ materially from any anticipated development. None of the Company or any of its subsidiary undertakings or any such person's officers or employees provides any assurance that the assumptions underlying such forward-looking statements are free from errors nor does any of them accept any responsibility for the future accuracy of the opinions expressed in this Presentation or the actual occurrence of the forecasted developments. The Company assumes no obligation to update any forward-looking statements or to conform these forward-looking statements to our actual results. Furthermore, information about past performance given in this Presentation is given for illustrative purposes only and should not be relied upon as, and is not, an indication of future performance. No representation or warranty (express or implied) is made as to, and no reliance should be placed on, any information, including projections, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and, accordingly, neither the Company nor any of its parent or subsidiary undertakings or any such person’s officers or employees accepts any liability whatsoever arising directly or indirectly from the use of this document. By reviewing this Presentation you acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the businesses of the Company. This Presentation must be read in conjunction with the recent financial reports of the Company and the disclosures therein. The distribution of this Presentation in certain jurisdictions may be restricted by law. Persons in possession of this Presentation are required to inform themselves about, and to observe, any such restrictions. No action has been taken or will be taken in any jurisdiction by the Company that would permit the possession or distribution of this Presentation in any country or jurisdiction where specific action for that purpose is required. No shares or other securities are being offered pursuant to this Presentation. This Presentation does not constitute an offer to sell or form part of, and should not be construed as, an offer or invitation for the sale or subscription of, or a solicitation of an offer to buy or subscribe for, any shares or other securities in any jurisdiction, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any offer, contract, commitment or investment decision relating thereto, nor does it constitute a recommendation regarding the securities of the Company. By reviewing this Presentation you agree to be bound by the foregoing limitations. This Presentation speaks as of 7 January 2026. Neither the delivery of this Presentation nor any further discussions of the Company with any of the recipients shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since such date. The Company does not intend, and does not assume any obligation, to update or correct any information included in this Presentation. This Presentation shall be governed by Norwegian law, and any disputes relating to hereto is subject to the sole and exclusive jurisdiction of Norwegian courts. 2
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A Nordic retailer… Group overview 3 …with strong concepts across 383 stores 92 291 Figures are based on approximate and pro-forma figures last 12 months at 30 September 2025 for all group companies. Number of stores comprise all group companies including franchises at 31 December 2025 (Europris chain with 289, ÖoB with 92 and Lekekassen with 2). Annual EBIT ~NOK 1.3bn Annual sales ~NOK 15bn Annual footfall ~59 million transactions Customer club ~4.5 million members
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Our concepts and categories create “reasons to go” Category-concepts drive traffic Seasonal concepts drive traffic Our ambition is to develop our store concept to deliver an even better customer experience, and offer a more relevant and profitable product range for everyday life, seasons, and special occasions
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Handyman Q3 22 Category upgrades drive growth 5 Pets Q1 22 Toys Q4 22 Personal care Q3 23 Laundry and cleaning Q1 23 Kitchen Q1 24 Home and interior Q1 25Groceries Q3 24
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2,5 2,7 3,3 3,6 3,8 4,1 4,3 4,6 40% 42% 40% 42% 44% 45% 46% 47% 0% 2018 2019 2020 2021 2022 2023 2024 LTM Sep 25 Private labels support growth 6 Private label revenue and share of total sales Share of total sales Private label sales, NOK bn Private labels add variety, new price points and sustainable alternatives → increasing growth and improving gross margins Note: Europris chain (directly operated and franchise stores)
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Strong and improving customer impression 1 EssenceMediacom Brand Tracker from 2007 to 2025 7 20252007 33% 25% 5% 67% Positive NeutralNegative Overall impression of Europris1
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Europris has consistently outperformed the market 2014 2015 2016 2017 20202018 2019 2021 5% 9% 7% 2% 8% 5% 8% 5% 6% 19% 3% 5% 6% 28% -1% 2% Variety retail in Norway1 Europris chain2 Sales growth % year-on-year change 1 Virke retail index (using figures reported by Statistics Norway) 2 Europris chain (both directly operated and franchise stores) 8 2022 2023 2024 2% 4% 4% 4% 0% 3% YTD Sep 25 8% 9%
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Expanding store network 9 • Eight new store openings in central locations in Norway in 2025 • A robust pipeline with more new stores in 2026 and beyond • Also, several store modernisations and relocations annually, to ensure an attractive store portfolio Europris Asker Europris Bekkestua Europris Grim, Kristiansand Europris Fritzøe Brygge, Larvik Europris Holmlia City Europris Arkaden City, Stavanger Europris Tveita City Europris Søgne
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Acquired by Nordic Capital Opened Shanghai sourcing office (JV with Tokmanni) Listed on Oslo Børs Acquired by Terje Høili Our growth story Sales of ~NOK 14.9bn* * Sales includes the Europris chain (directly operated and franchise stores), Lunehjem (consolidated as of March 2021, sold 1 January 2025), the Lekekassen group (consolidated as of August 2021), the Strikkemekka group (consolidated as of July 2022) and ÖoB (Runsvengruppen; consolidated as of May 2024) 10 Acquired by IK Investment Partners Acquired 67% of Lekekassen Acquired 67% of Strikkemekka Acquired remaining 80% of ÖoB Acquired remaining 33% of Lekekassen Acquired 20% of ÖoB Founded by Wiggo Erichsen
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Track record of profitable growth Note: Acquisitions consist of 100% consolidated figures from the subsidiares Lunehjem (consolidated as of March 2021, divested 1 January 2025), Lekekassen (consolidated as of August 2021), the Strikkemekka group (consolidated as of July 2022) and ÖoB (consolidated as of May 2024) 11 Revenue, gross margin and net profit margin 10% 2021 6% 12% 2020 13% 2022 6.2 8.0 8.6 9.0 ▪ More customers and higher basket values ▪ Category upgrades driving growth ▪ New stores and store upgrades ▪ Acquisitions adding to total revenue – with dilutive impact on margins AcquisitionsEuropris Gross margin (%) 2019 46%47%43%43% Net profit margin (%) 2023 9.4 10% 44% LTM Sep 252024 41% 5% 14.6 12.8 42% 7%
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Dividend per share (DPS), NOK Attractive dividend policy 12 1,40 1,50 1,70 1,85 1,95 2,20 2,50 2,75 3,25 3,500,50 0,50 1,50 1,00 2019 2020 2021 2022 2.32 4.86 6.72 6.34 Earnings per share (EPS) , NOK 5.64 2023 Ordinary dividend Additional dividend following strong financial performance affected by Covid-19 in 2020, 2021 and 2022 Additional anniversary dividend in 2016 2024 5.15 ▪ Ambition to continue delivering competitive shareholder return through share appreciation and dividends ▪ Dividend policy of 50-60% payout of net profit 2015 2016 2017 2018 1.51 2.48 2.33 2.59
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Creating a Nordic champion in discount variety retail 13 #1 #2 #3 #4 Leading brands and similar concepts with potential to establish a strong Nordic position Significant synergies throughout the value chain Operational synergies across concepts → sharing “best practice” Shared values and similar business cultures 383 stores across Norway and Sweden NOK 10.4bn NOK 4.2bn Combined sales: NOK 14.6bn Figures are based on approximate and pro-forma figures last 12 months at 30 September 2025 for all group companies. Number of stores comprise all group companies including franchises at 31 December 2025 (Europris chain with 289, ÖoB with 92 and Lekekassen with 2).
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High ambitions in Sweden: Grow ÖoB revenues by SEK 1bn by 2028 with an EBIT margin of 5% 14 +1bn SEK Category harmonisation and joint sourcing Improve customer experience Strengthen execution across the value chain
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Executing a large store remodelling programme over the next two years 15 • Plan to remodel 40-45 stores in both 2026 and 2027 - with initial negative financial effects • Lost sales for 2-4 weeks for each store, and negative margin impact from discounting ahead of closing and reopening campaigns • Remodelling project teams impacting opex • Any improvements in segment Sweden for 2026 anticipated to be offset by costs associated with remodelling of stores • Expect financial results in 2026 on a par with 2025, with gradual improvement from 2027 and main uplift in 2028 • More details on roll-out plan and financial impacts to be shared in the Q4-25 presentation – after evaluating the four pilot stores
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Further long-term upside in adding more stores 16 • First priority is to create like-for-like growth and improve profitability in the existing store network • Current store network in Sweden is smaller than for the most relevant competitors • Long-term opportunity to expand store network by 30-50 stores to 125-145 stores 92
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Outperforming in a stronger market 17 • Strong consumer spending in the first nine months in both countries • Q4 is normally the strongest quarter - and the group is well prepared • Lowered interest rates and real wage growth should support continued positive consumer sentiment • Modest growth in ÖoB – but promising results from category upgrades and early performance from two fully remodelled pilot stores • Remodelling programme across the ÖoB store portfolio in 2026-27 expected to improve the customer shopping experience and attract new customer segments • Remodelling costs expected to offset underlying earnings improvements in segment Sweden in 2026 – gradual improvement expected in 2027, with significant profit uplift in 2028 • Remain confident in the ambition to grow ÖoB sales to SEK 5 billion with a 5% EBIT margin in 2028
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Investment highlights Clear market leader in a growing market segment Strong track record with over 30 years of consecutive growth Well managed with proven ability to adapt to changing market conditions Clear operational and financial strategy Committed to profitable growth and cash distribution 1 2 3 4 5 18
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Q&A Next event: Q4 presentation 29 January 2026
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Alternative performance measures (APMs) 20 APMs are used by Europris for annual and periodic financial reporting to provide a better understanding of the group’s financial performance. APMs are considered as well-know and frequently used by users of the financial statements and are also applied in internal reporting and by management to measure operating performance. Sales Sales is the same as the IFRS definition of total operating income. Gross profit / gross margin Gross profit is defined as Total operating income minus the cost of goods sold (COGS). The gross profit represents revenue that the group retains after incurring the direct costs associated with the purchase of the goods. Gross margin is defined as gross profit divided by total revenue and is useful for benchmarking direct costs associated with the purchase of the goods vs total revenues. Opex / Opex-to-sales ratio Operating expenses (Opex) is the sum of employee benefits expense and other operating expenses. It is useful to look at cost of these two components combined, as they compose a large part of the fixed operating costs. The Opex- to-sales ratio divides the Opex by Total operating income and is useful for benchmarking this cost base vs the development in sales. EBITDA / EBITDA margin EBITDA is earnings before interests, tax, depreciation of property, plant and equipment and right-of-use assets and amortisation of other intangibles. EBITDA is a well-known and widely used term among users of the financial statements and is useful when evaluating operational efficiency on a more variable cost basis as they exclude amortisation and depreciation expense related to capital expenditure. EBITDA margin is EBITDA divided by Total operating income and is useful for benchmarking this profitability parameter vs the development in sales. EBIT / EBIT margin EBIT is earnings before interest and taxes and is the same as the IFRS definition of operating profit. EBIT is a well- known and widely used term among the users of the financial statements and is useful when evaluating operational profitability. EBIT margin is EBIT divided by Total operating income, and thus the same as Operating profit divided by Total operating income. Working capital Net change in working capital is the sum of change in inventories and trade receivables and change in other receivables less the sum of change in accounts payable and other current liabilities. Net change in working capital is a well-known and widely used term among the users of the financial statements and is useful for measuring the group’s liquidity, operational efficiency and short-term financial conditions. Capital expenditure Capital expenditure (Capex) is the sum of purchases of fixed assets and intangible assets as used in the cash flow. Capex is a well-known and widely used term among the users of the financial statements and is a useful measure of investments made in the operations when evaluating the capital intensity. Financial debt / net debt Financial debt is the sum of borrowings and lease liabilities. Financial debt is useful to see total debt as defined by IFRS. Net debt is financial debt less cash. Cash and liquidity reserves Cash and liquidity reserves is defined as available cash plus available liquidity through overdraft and credit facilities. This measure is useful to see total funds available short term. Europris: Total chain sales Total chain sales are sales from all chain stores, that is both directly operated and franchise stores. This KPI is an important measure of the performance of the total Europris chain and considered useful in order to understand the development of the entire chain, regardless of ownership structure of stores. Segment Norway The Norway segment includes Europris and the pure play companies Lekekassen and Strikkemekka. Segment Sweden The Sweden segment includes the ÖoB chain. Pure play Pure play includes the Lekekassen group and the Strikkemekka group. Directly operated store Directly operated store means a store owned and directly operated by the group. Franchise store Franchise store means a store operated by a franchisee under a franchise agreement with the group. Chain Chain means the sum of all stores under the brand name Europris and ÖoB. Europris has both directly operated stores and franchise stores while ÖoB only has directly operated stores. Like-for-like (LFL) sales growth LFL growth is defined as the growth in total chain sales for stores that have been open for every month of both the previous and the current calendar year. LFL is calculated in constant currency. Organic growth Organic growth is defined as the growth excluding any significant structural changes (acquisitions or sale of companies). Constant currency Constant currency is the exchange rate which the group uses to eliminate the effect of exchange rates fluctuations when calculating financial performance numbers. 20