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Q3 2026 presentation 29 October 2026 CEO Espen Eldal CFO Stina Byre
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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 29 October 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 384 stores 92 292 Figures are based on figures last 12 months at 30 September 2026 for all group companies. Number of stores comprise all group companies including franchises (Norway: Europris chain 290 and Lekekassen 2. Sweden: ÖoB chain 92.). Annual EBIT NOK ~1.4bn Annual sales NOK ~15.1bn Annual footfall ~61 million transactions Customer club ~4.8 million members
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Group - financial highlights - third quarter 4 • Total sales of NOK 3.5bn, down 1.6% but up 0.6% in constant currency • Earlier onset of summer in the Nordics compared with last year – negative timing impact on footfall and sales in the third quarter this year • Growth in campaign sales growth - but performance below expectations • Like-for-like sales decline of 0.1% for the Europris chain • Like-for-like sales increase of 2.1% for the ÖoB chain in local currency • Gross margin of 42.0%, up 1.3 pp • EBIT of NOK 244m (256) • Net profit to parent of NOK 129m (154) • EPS of NOK 0.79 (0.94)
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Group - financial highlights - first nine months 5 • Total sales of NOK 10.5bn, up 1.9% and up 3.1% in constant currency • Like-for-like sales increased 3.7% for the Europris chain • Like-for-like sales increased 1.7% for the ÖoB chain in local currency • Gross margin of 41.4%, up 1.3 pp • EBIT of NOK 710m (642) • Net profit to parent of NOK 378m (350) • EPS of NOK 2.31 (2.14) • Cash flow from operating activities of NOK 900m (254) • Net debt excluding lease liabilities of NOK 1,401m (1,795)
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Timing of summer impacting a seasonal concept 6 • Good overall performance for the summer season • Seasonal ranges important drivers of store footfall and sales of both seasonal items and the broader assortment – earlier onset of summer supported second-quarter sales this year, and weighed on third-quarter sales compared with last year • Consumers remain price-conscious – campaigns and private labels key sales drivers • Despite higher campaign sales, the overall campaign programme fell short of expectations in the third quarter – corrective measures have been initiated
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Europris is a relevant concept for price conscious consumers 7 • Higher footfall to stores and volume-led basket growth in both the third quarter and for the first nine months • Europris offers value for money – growth driven by campaigns and private labels • Higher share of private labels – important driver for the increase in gross margin • Europris opened one new store, relocated/expanded three and closed one store in the third quarter • The board has approved a further eight openings for 2026 and beyond, of which four are pending planning approval
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Building ÖoB as a non-food and seasonal destination 8 • The turnaround in Sweden is continuing, with good traction on the ÖoB store remodelling programme and the product harmonisation with Europris • Swedish consumers welcome the upgraded non-food range, which delivered 9% sales growth in the third quarter and 10% for the first nine months • Share of non-food sales up 2 pp to 28% for the first nine months • A stronger non-food offering supports gross margins and will be crucial to attract new customer groups and increase longer-term profitability
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Store remodelling programme continuing to plan 9 • Store remodelling is key to re-establish ÖoB as an attractive shopping destination with a broader customer appeal • Executed ten store remodelling projects in the third quarter and 34 during the first nine months • Upgraded stores continue to outperform remaining portfolio on both sales and gross margin • Planning for ten store projects in the fourth quarter, bringing the total number of upgraded stores to 48 by end of 2026 • Remaining stores to be remodelled in 2027, with some exceptions • The group will carry out a series of marketing initiatives during the Christmas season to attract customers and further strengthen ÖoB’s position as a preferred destination for seasonal shopping • Full-scale national marketing activities will be launched in autumn 2027, once the store remodelling programme has been completed 38 out of 92 stores have been upgraded and modernised
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Maintaining our high ambitions to grow ÖoB revenues to SEK 5bn by 2028 with 5% EBIT margin 10 SEK 5bn 5% EBIT Category harmonisation and joint sourcing Improve customer experience Strengthen execution across the value chain
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Financials CFO Stina C Byre 11
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Highlights Norway Segment Norway – third quarter 12 • Sales of NOK 2.5bn, 0.3% above last year • Like-for-like sales decline of 0.1% for the Europris chain • Earlier onset of summer vs last year – negative timing impact on footfall and sales in the third vs second quarter • Growth in campaign sales - but performance below expectations • Sales of NOK 144m for pure play, down 6.9%, negatively impacted by EU tariffs • Gross margin of 45.8%, up 1.2 pp and up 1.5 pp excluding unrealised currency effects • Positive impact from higher share of private labels • Opex of NOK 677m, up 4.4%, with opex-to-sales ratio increasing 1.0 pp • EBIT of NOK 294m, up 0.5% Key figures – Norway (Q3) 2,5 2,5 Sales (NOK bn) 2025 2026 44,6 45,8 Gross margin (%) 293 294 EBIT (NOK m) 25,9 26,9 Opex-to-sales (%)
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Highlights Norway Segment Norway – first nine months 13 • Sales of NOK 7.5bn, up 4.0% • Like-for-like sales increase of 3.7% for the Europris chain, including one additional sales day • Sales of NOK 427m for pure play, in line with last year • Gross margin of 44.8%, up 0.6 pp and up 0.3 pp excluding unrealised currency effects • Positive impact from higher share of private labels, partly offset by higher share of campaigns • Opex of NOK 1.95bn, up 6.4%, with opex-to-sales ratio increasing 0.6 pp • Impacted by combined effect of volume-driven sales growth, wage growth and higher distribution costs • EBIT of NOK 867m, up 4.7% Key figures – Norway (first nine months) 7,2 7,5 Sales (NOK bn) 2025 2026 44,2 44,8 Gross margin (%) 828 867 EBIT (NOK m) 25,4 26,0 Opex-to-sales (%)
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Highlights Sweden Segment Sweden – third quarter 14 • Sales of NOK 1.0bn, a reported decline of 6.1% and growth of 1.3% in local currency • Like-for-like sales increase of 2.1% for the ÖoB chain in local currency – negatively impacted by temporary store closures • Non-food sales up 9% • Gross margin of 32.0%, up 0.9 pp and up 1.2 pp excluding unrealised currency effects • Opex of NOK 272m, a reported growth of 1.8% and up 9.7% in local currency • Impacted by remodelling of ten stores • Opex-to-sales ratio up 2.2 pp • EBIT-loss of NOK 50m (-37) Key figures – Sweden (Q3) 2025 2026 1,0 1,0 Sales (NOK bn) 31,1 32,0 Gross margin (%) -37 -50 EBIT (NOK m) 26,2 28,4 Opex-to-sales (%)
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Highlights Sweden Segment Sweden – first nine months 15 • Sales of NOK 3.0bn, a reported decline of 3.0% and growth of 0.9% in local currency • Like-for-like sales increase of 1.7% for the ÖoB chain in local currency – negatively impacted by temporary store closures • Non-food sales up 10%, with share of sales up 2 pp to 28% • Gross margin of 32.7%, up 2.4 pp and up 2.2 pp excluding unrealised currency effects • Opex of NOK 867m, a reported growth of 1.9% and 5.6% in local currency • Impacted by remodelling of 34 stores this year and by ERP project last year • Opex-to-sales ratio up 1.4 pp • EBIT-loss of NOK 157m, an improvement of NOK 29m Key figures – Sweden (first nine months) 2025 2026 3,1 3,0 Sales (NOK bn) 30,3 32,7 Gross margin (%) -186 -157 EBIT (NOK m) 27,9 29,3 Opex-to-sales (%)
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Group financials – third quarter highlights 16 Key figures group, third quarter 2026 Sales NOK 3.5bn Gross margin 42.0% Opex-to-sales 27.3% • Reported decrease of 1.6% and increase of 0.6% in constant currency • Negative impact from earlier summer this year and campaign programme below expectations • Up 1.3 pp and 1.6 pp excluding unrealised currency effects • Unrealised losses from currency of NOK 4m (unrealised gains of 7) • Reported opex growth of 3.7% and 6.0% in constant currency • Opex-to-sales up 1.4 pp • Includes remodelling of ten stores EBIT NOK 244m • Decline of 4.7% • EBIT-margin of 7.0% (7.3%) Net profit to parent NOK 129m • Decline of 16.2% • EPS of NOK 0.79 (0.94)
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Group financials – first nine months highlights 17 Key figures group, first nine months 2026 Sales NOK 10.5bn Gross margin 41.4% Opex-to-sales 26.9% • Reported increase of 1.9% and 3.1% in constant currency • Up 1.3 pp and 0.9 pp excluding unrealised currency effects • Unrealised gains from currency of NOK 11m (unrealised losses of 17) • Reported opex growth of 5.0% and 6.2% in constant currency • Opex-to-sales up 0.8 pp • Includes remodelling of 34 stores EBIT NOK 710m • Growth of 10.6% • EBIT-margin of 6.8% (6.2%) Net profit to parent NOK 378m • Growth of 8.1% and EPS of NOK 2.31 (2.14) • Unrealised losses on interest rate swaps of NOK 1m (unreal. losses of 13) • One-off gain this year from terminated hedge of NOK 13
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Group – cash, debt and liquidity 18 Comments cover YTD development • Cash flow from operating activities of NOK 900m (254) • Change in net working capital showing cash outflow of NOK 162m (-735), reflecting normal seasonality – year-on-year improvement reflected last year’s planned inventory build-up and timing differences in accounts payable • Cash outflow from investing activities of NOK 203 (90) – increase reflected store remodelling in Sweden • Net cash outflow from financing activities of NOK 643m (411) • Net change in cash increased by NOK 54m (-247) • Net debt of NOK 4,753m (5,140) • Net debt excluding lease liabilities of NOK 1,401m (1,795) • Cash and liquidity reserves of NOK 2,514m (1,160) Group cash flow, NOK million Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Cash from operating activities 473 294 900 254 1,471 - of which change in net working capital 59 (167) (162) (735) (396) Cash used in investing activities (51) (24) (203) (90) (127) Cash from financing activities (211) (243) (643) (411) (960) Net change in cash 210 27 54 (247) 384 Cash at beginning of period 830 329 988 603 603 Cash at end of period 1,039 356 1,039 356 988 Key financials Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Net debt excluding lease liabilities 1,401 1,795 1,401 1,795 858 Cash and liquidity reserves 2,514 1,160 2,514 1,160 2,108
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Outlook 19
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Ready for the upcoming Christmas season 20 • Interest rate hike in Norway in September – projected policy rate path revised upwards in both Norway and Sweden • May weigh on consumer sentiment, although real wage growth is expected in both countries in 2026 and 2027 • Geopolitical situation still volatile with limited cost visibility for certain cost components – any impact is expected to affect the market broadly • Consumers are expected to remain price conscious and seek value for money – Europris and ÖoB are well positioned in this environment • Well-stocked and prepared for the important upcoming Christmas season
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92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 LTM 26 Acquired by Nordic Capital Opened Shanghai sourcing office (JV with Tokmanni) Listed on Oslo Børs Acquired by Terje Høili Our growth story Retail sales of NOK ~15.4bn* * 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) 21 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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Q&A Next event: Q4 presentation 27 January 2027
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Appendix
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Long-term financial and operational ambitions Sales days and store projects Analytical information Alternative Performance Measures (APM’s) 24 Content
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Long-term financial and operational ambitions 25 Segment Norway Segment Sweden Group • Europris chain to deliver like-for-like sales growth above the market over time • On average open a net average of five new Europris stores per year • Increase the EBIT margin over time • Reach SEK 5 billion in sales, with 5% EBIT margin, in 2028 • Pay dividend of 50-60% of net profit attributable to parent, while maintaining an efficient balance sheet
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Number of sales days * Number of projects is subject to change based on operational considerations Year Q1 Q2 Q3 Q4 Total 2024 75 73 79 80 307 2025 76 71 79 80 306 2026 76 72 79 80 307 •Number of store projects (franchise projects in brackets) Segment Norway: Sales days and store projects 26 2026E* Q1 Q2 Q3 Q4 Total New stores - 1 1 1 3 Store closures - - 1 - 1 Relocations / expansions 4 1 3 3 10 Modernisations 3 7 - 1 11 2025 Q1 Q2 Q3 Q4 Total New stores 3 2 1 2 8 Store closures 1 - - 1 2 Relocations / expansions 1 2 2 1 6 Modernisations 4 3 - 1 8
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Number of sales days Year Q1 Q2 Q3 Q4 Total 2024 90 91 92 91 364 2025 89 91 92 91 363 2026 89 91 92 91 363 Segment Sweden: Sales days and store projects 27 * Number of projects is subject to change based on operational considerations •Number of store projects 2026E* Q1 Q2 Q3 Q4 Total New stores - - - - - Store closures - - - - - Relocations / expansions - - - - - Modernisations 9 15 10 10 44 2025 Q1 Q2 Q3 Q4 Total New stores - - - - - Store closures - 1 - - 1 Relocations / expansions - - - - - Modernisations - 1 1 2 4
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Analytical information1 1 All figures are approximations and subject to change without further notice 28 Seasonality • As a rule-of-thumb, the Easter impact is estimated to NOK 130-200 million in revenue Capex • New store: NOK 2.4 million per store • Relocation: NOK 1.7 million per store • Modernisation/remodelling: NOK 1.5-2.5 million per store • Category development: NOK 25-35 million per year • IT and maintenance: NOK 50 million per year Rent • Majority of contracts are CPI-adjusted • Recognised under IFRS-16 leases
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Alternative performance measures (APMs) 29 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-known 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. 29