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Thomas Røkke, CFO 7 January 2026 SEB Nordic Seminar 2026 The great Nordic comeback? Photo: Istock
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Agenda 2 01 Overview of Komplett 02 Our brands 03 Market environment 04 Q3 - 25 highlights 05 Summary Photo: Bjørn Wad Photo: Bjørn Wad
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This presentation has been prepared by Komplett ASA (the “Company”) solely for information purposes. The presentation does no t c onstitute an invitation or offer to acquire, purchase or subscribe for securities. This presentation includes forward - looking statements which are based on our current expectations and projections about future e vents. All statements other than statements of historical facts included in this report, including statements regarding our future finan cia l position, risks and uncertainties related to our business, strategy, capital expenditures, projected costs and our plans and objectives for f utu re operations, including our plans for future costs savings and synergies may be deemed to be forward - looking statements. Words such as “believ e,” “expect,” “anticipate,”, “may,” “assume,” “plan,” “intend,” “will,” “should,” “estimate,” “risk” and similar expressions or the negativ es of these expressions are intended to identify forward - looking statements. By their nature, forward - looking statements involve known and unknown risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward - looking statements are not guarantees of future performance. You should not place undue reliance on these forward - looking statements. In addition, any forward - looking statements are made only as of the date of this notice, and we do not intend and do not assume any obligation to upda te any statements set forth in this notice. Disclaimer 3
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The leading Nordic online - first electronics retailer Overview of the Komplett Group 4 B2C B2B Distribution 71.0% 10.0% 19.0% Norway 50.3% Sweden 2.0% Denmark 47.3% NOK 15.3 bn NOK 15.3 bn Revenues by segment Revenues by country Note: Revenues FY 2024 Introduced e - commerce to the Norwegian market in 1996 - born online Five well - known brands that cater to the B2C, B2B, and Distribution segments Online - first supported by 34 NetOnNet self - service shops and 12 Webhallen small - box stores Commercial, tech and cost advantages through shared functions and capabilities Supported by an efficient warehouse set - up in Sandefjord (Norway) and Borås (Sweden) A portfolio of online - first pioneers
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A multi - segment family of online - first brands Overview of the Komplett Group 5 Note: Revenues FY 2024 ✓ High customer satisfaction ✓ Loyal and engaged customers ✓ Excellent customer services ✓ Fast and convenient delivery Common brand traits B2C NOK 10.9 bn B2B NOK 1.6 bn Distribution NOK 2.9 bn The pure play online electronics specialist with expert authority The low - price challenger with strong omnichannel offering The gaming destination with an engaged and loyal community The simple and secure IT service partner for SME Large - scale distribution for resellers and retailers Portfolio of strong Nordic brands within electronics & IT products and services
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Strong B2C brand portfolio tailored to distinct customer needs Our brands 6 Fast, simple and everyday low price Low - price challenger with strong omnichannel offering to price conscious customers seeking hassle - free shopping Gaming and tech for all your worlds – for nerds, by nerds The gaming destination with an engaged and loyal community of hardcore gamers and early technology adopters The smart, safe, and easy way to buy technology. Online electronics specialist with expert authority targeting tech enthusiast and self - serviced online shoppers Pure online Omnichannel: 60 - 65% online – 12 small - box retail shops Omnichannel: 40 - 45% online – 34 self - service warehouse shops
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Unique value proposition confirmed by consumers Our brands Source: Consumer research in Sweden and Norway (October 2025) 7 Clear owner of the low - price position and second most loved electronics retail brand in Sweden Known for the most convenient and efficient shopping experience Most trusted retail brand for electronics in Norway Highly regarded for efficient shopping experience and a broad and attractive assortment Highly trusted retail brand – excelling on innovation and inspiration Niche brand for gamers and tech enthusiasts with high scores on emotional needs
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8 Attractive market supported by structural drivers of demand Market environment Unprecedented speed of innovation in industry New technologies introduced e.g., appliances with IoT Continuous product upgrades with technology improvements Product lineups updated and products replaced frequently Digitalisation of workplaces and everyday life From luxury goods historically to everyday necessities today Lifestyle trends, e.g., gaming, health and home office Lifestyle trends driving growth and installed base Acceleration through swiftly increasing use of Artificial Intelligence
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The great Nordic comeback? Market environment Note: Norwegian sales statistics include CE only, Swedish extended to SNI 2025 47.5 for Sept - Nov 2025 Source: SCB, NEIR, SSB, Finans Norge Change in sales index for CE and IKT products Jan 2019 – Nov 2025 1 Continued gradual improvement in consumer sentiment…. Household view on own financial situation 2019 - Q4 2025 … real expenditure of households on goods returning … … with Consumer Electronics spending recovering Per cent Per cent Index Growth YoY in real consumption expenditures 2019 - Q3 2025 9 2019 2020 2021 2022 2023 2024 2025 0 0 - 1 - 2 - 7 - 7 - 46 - 48 - 45 - 28 - 24 - 22 - 24 - 17 - 6 - 11 - 12 - 9 - 2 - 2 - 15 - 24 - 37 Economy last 12 months - 44 - 33 Purchase intention of durables Change in purchase intention YoY - 48 - 22 - 38 2019 2020 2021 2022 2023 2024 2025 24 2 3 1 - 1 - 43 - 44 - 32 - 28 - 15 - 9 - 9 14 13 17 - 17 - 6 - 8 - 6 - 38 - 47 - 46 - 40 Economy last 12 months - 33 4 Purchase intention of durables - 55 - 14 Change in purchase intention YoY - 20 - 2 - 1 3 2 3 - 1 2 2 10 12 8 1 1 - 2 - 6 - 7 - 6 - 4 0 3 0 3 1 3 5 Product consumption Overall consumption 7 0 2019 2020 2021 2022 2023 2024 2025 - 1 - 2 1 - 1 6 11 13 13 9 4 3 - 3 - 4 - 9 - 1 - 4 - 5 - 4 - 8 2 3 4 4 6 Product consumption Overall consumption 0 - 3 2 2019 2020 2021 2022 2023 2024 2025 7 12 6 8 3 8 5 4 - 5 2 - 2 - 3 7 10 8 3 1 3 0 1 5 6 10 10 9 19 Volume Value 2019 2020 2021 2022 2023 2024 2025 2019 2020 2021 2022 2023 2024 2025 - 8 - 15 - 10 - 8 1 - 9 - 3 - 5 4 6 8 8 10 0 5 5 7 8 6 6 - 16 - 6 - 4 - 2 2 1 Volume Value
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10 Continued market improvement Market environment Photo: Bjørn Wad Positive effects from recent attractive products launches • Components and console launches helped boost demand • Continued strong demand for novelties across segments Replacement demand further supporting market development • PC & Peripherals benefitting from refresh cycles • Strong demand for customised gaming PCs observed throughout the year Continued need to manage and balance value - for - money • Good demand for private label products across categories • Volume vs. profits trade - off most visible in Telecom in 2025 Outlook supported by positive consumer fundamentals • Good environment in Norway and improving conditions in Sweden • Less impetus expected from innovation cycles Photo: Bjørn Wad
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Sales growth of 2.3 per cent including positive FX, reflecting more positive market dynamics Positive gross margin trajectory maintained Continued solid liquidity and financial position in line with agreed financial arrangements Stable operating costs, as expansion investments were offset by cost measures Progress in key financial metrics Q3 - 25 Highlights NOK 3 842 million Q3 - 24: NOK 3 755 million Operating revenue: 13.9 per cent Q3 - 24: 12.7 per cent Gross margin: NOK 33 million Q3 - 24: NOK 346 million Net working capital: 3.0x Q3 - 24: 3.9x NIBD/EBITDA: 13.8 per cent Q3 - 24: 13.9 per cent Opex share incl. depreciation: NOK 3 million Q3 - 24: NOK - 46 million EBIT (adj.): 11 Photos: Bjørn Wad
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12 Cost and efficiency measures Q3 - 25 Highlights Structural cost and efficiency measures progressing • Improving cost efficiency across the group • Measures include consolidation of warehouses and back - office functions and reducing the workforce Gross profit growth through disciplined commercial execution • Rebalanced pricing and campaigns, improved product mix have driven margin uplift • Further support from a more normalised pricing environment Initiatives supporting growth with improved profitability • New product launches, private label expansion and targeted category growth support profitability • Additional positive impact from stronger commercial execution Improved working capital and liquidity management • Improved cash flow and liquidity through better supplier terms • Disciplined capital management supports financial position Combining brand strength and an efficient logistics set - up Photo: Bjørn Wad
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Well positioned to leverage position in the «Nordic comeback» Summary Online - first business model with speed, convenience and leading tech Differentiated retail brands with leading customer satisfaction A structurally attractive market supported by strong long - term drivers Strengthened scale and increasing impact from the group’s commercial and cost agenda Photos: Bjørn Wad 01 02 04 03 Well - positioned to benefit from a gradually improving market momentum 05 13
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Photo: Bjørn Wad