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IDEX Biometrics ASA Third quarter 2025 Presentation 13 November 2025
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This presentation includes forward-looking information and statements that are subject to risks and uncertainties that could cause actual results to differ. Such forward -looking information and statements are based on current expectations, estimates and projections about global economic conditions, the economic conditions of the regions and industries that are major markets for IDEX Biometrics ASA (IDEX) and its subsidiaries. These expectations, estimates and projections are generally identifiable by statements containing words such as "expects", "believes", "estimates" or similar expressions denoting uncertainty. Important factors that could cause actual results to differ materially from those expectations include, among others, economic and market conditions in the geographic areas and industries that are or will be markets we target, market acceptance of new products and services, changes in governmental regulations, interest rates, fluctuations in currency exchange rates, and such other factors as may be discussed from time to time. Although IDEX believes its expectations and the information set forth in this presentation were based upon reasonable assumptions at the time when they were made, it can give no assurance that those expectations will be achieved or that the actual results will be as described in this presentation. IDEX is not making any representation or warranty, expressed or implied, as to the accuracy, reliability, or completeness of the information in this presentation, and neither I DEX nor any of its directors, officers, or employees will have any liability to you or any other persons resulting from your use of the information in this presentation. IDEX undertakes no obligation to publicly update or revise any forward - looking information or statements in this presentation. Disclaimer 2
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3 Delivering on our commitments: Progress against March 2025 objectives Delivered: Transform the business from component supplier to product company Delivered: Launch world-class Access products (Physical and Logical): Delivered: Streamline operations and reduce OpEx to $1.5M - $1.7M by Q3 Exceeded: Stay in the game on payment cards In progress: Generate sales exceeding OpEx on a monthly basis by year-end
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Many of today's authentication methods have already been hacked or are just not capable of keeping up with AI driven attacks. 4
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Breaches grow and costs soar, while people struggle with complex authentication processes. Cybercrime-as-a-Service As AI fuels the growth of Cybercrime-as-a-Service, traditional authentication is increasingly compromised by phishing, malware, and large-scale automated attacks. Password chaos Employees struggle with forgotten passwords and high support friction, yet expect faster access and stronger safeguards. Stricter regulations underway Across industries, regulators are raising the bar for authentication and documented security (DORA, NIS2, GDPR). Authentication needs a reset to handle the rise of AI 5
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6 Biometric Access Cards and Payment Cards IDEX’s two world-leading product lines
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A finger touching a card AI-generated content may be incorrect. IDEX core competitive advantage 8 State-of-the-art fingerprint sensor
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IDEX core competitive advantage 10 Fingerprint securely stored offline inside the card
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11 Multi-application architecture meets world-class biometrics The technology advantage
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12 IDEX Access Card One biometric card that replaces passwords, PINs, and weak two-factor authentication – with zero tolerance for unauthorised access, stopping phishing, stolen credentials, and AI-driven attacks. Vault-level security at lightning speed
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IDEX Access Card 14 Secure online authentication
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A familiar sight in today’s workplace IDEX Access Card Get digital login, door entry, and ID – all in one familiar format you already carry. Hardware key Login to office computers and accounts. Key fob For building and room access. ID card For identification and physical access. Mobile authenticator SMS or OTP-based 2FA for digital services. Contactless power The reader wirelessly powers the card – no battery needed. ID card Serves as your employee ID and access card in one. Fingerprint sensor Biometric authentication certified by Visa, MasterCard and FIDO. 15
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16 NXP partnership In a commercial first, IDEX has integrated its biometric technology with NXP Semiconductors. This enables the IDEX's market leading access card to support MIFARE DESFire EV3¹. ¹ MIFARE DESFire EV3: NXP’s leading secure contactless smart card platform, widely adopted by major providers in global access control.
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17 Strong customer feedback validating market demand IDEX Access Card market validation "The IDEX card is attractive to customers for its unique combination of PIN-free biometric access, high security, and battery-free design." Trygve Daae Sales Manager at Buypass AS "For customers, IDEX offers a clear advantage – a secure, easy-to-use, battery-free card that replaces both ID badges and USB keys.” Andreas K Fjeld Senior Manager at Sopra Steria | CIO Advisory
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18 IDEX now offers a commercial payment card with support for biometric 3D Secure – reducing online fraud losses that impact bank profitability, while delivering lightning- fast, seamless payments customers will love. A breakthrough in secure online payments
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IDEX Payment Card 20 Lightning-fast online payments with 3DS
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Update on Bangladesh and India 21 IDEX Payment Card
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22 Operational efficiency gains • Operating expenses reduced to USD 1.8 million in Q3 2025 – a 60% decrease vs Q3 2024 and 62% lower than the 2024 quarterly average of USD 4.6 million. • Further improvements already implemented are expected to lower OPEX by ~USD 150 thousand in Q4 2025 and by ~USD 250 thousand per quarter from 2026. Major restructuring impact realised in 2025 Operating expenses excluding the cost of goods sold, amortization, depreciation, impairment, and restructuring charges.
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23 A new economic reality • Costs significantly reduced after restructuring and operational focus • Shift from components to complete biometric cards → ~10× higher profitability per unit • Break-even level now significantly lower than in 2024 • Further strengthened by introducing Biometrics as a Service (BaaS) IDEX has fundamentally reshaped its cost and business model
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Investor relations contact Anders Storbråten – CEO anders@idexbiometrics.com +47 416 38 582 https://idexbiometrics.com